Mitsubishi UFJ Financial Group Inc. (MTU: Quote) posted lower nine-month net income of 532.4 billion yen, compared with 815.8 billion yen last year. According to the company, net income for the period, excluding one-time effect of negative goodwill associated with the application of equity method accounting on the company's investment in Morgan Stanley, remained almost unchanged.
For the nine-month period, net interest income slid to 1.31 trillion yen, from 1.38 trillion yen in the year-ago period, due mainly to tighter domestic deposit-loan margin, lower interest income in Global Markets segment and lower income from consumer-finance unit, partially offset by an increase in loan income in overseas. Gross profits, however, increased to 2.68 trillion yen chiefly due to increases in income from sales and trading and net gains on debt securities.
by RTT Staff Writer
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