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Moody's Japan K.K. says that Japan's two largest banking groups by assets -- Mitsubishi UFJ Financial Group, Inc. (MUFG, A1 stable) and Sumitomo Mitsui Financial Group, Inc. (SMFG, A1 stable) -- share similar credit strengths, while both are also exposed to the contingent liabilities posed by their leasing subsidiaries. "While the primary banking subsidiaries of the two groups have baseline credit assessments (BCAs) of a3, indicating similar credit strength, capitalization and profitability are relative strengths for SMFG, while a greater degree of geographic diversification underpins MUFG's credit profile," says Shunsaku Sato, a Moody's Vice President and Senior Credit Officer.
Moody's Japan K.K. says that its outlook for Japan's banking system is stable, as it has been since 2012, reflecting the expectation that the banks will continue to have strong liquidity at home and sufficient capital, even though pressure on profitability will persist and asset risks are slowly increasing. "Support will come from a stable operating environment, and we forecast that Japan's GDP will continue to increase, by 1.1% in 2018 and 1.0% in 2019, while the unemployment rate will decline further," says Tetsuya Yamamoto, a Moody's Vice President and Senior Credit Officer. "Japan's continued accommodative monetary policy will help the economy sustain growth and, if the Bank of Japan (BOJ) tightens monetary policy, which we do not expect to occur during this outlook period, higher rates will help increase interest income for banks," says Yamamoto.
Moody's Japan K.K. has affirmed the commercial paper ratings of Prime-2 of Hitachi Capital Corporation (Hitachi Capital) and Hitachi Capital America Corp. At the same time, Moody's has removed stable outlook at the issuer level as short-term ratings do not carry rating outlooks.
Saburo Araki said he’s giving a high priority to what he describes as the difficult task of stamping out staff harassment since he took over in April as head of Mitsubishi UFJ Financial Group Inc.’s brokerage venture with Morgan Stanley. “I have come across several harassment complaints from employees since I arrived,” said Araki, chief executive officer at Mitsubishi UFJ Morgan Stanley Securities Co. “I want to eradicate it, but it will be difficult to root out,” he said in an interview in Tokyo. In Japan, awareness of power harassment, known locally as “power hara,” has been increasing due to high-profile sports scandals and rising instances of workplace bullying in a country where respect for authority is prized.
Moody's Japan K.K. says that the fiscal 2017 results for Japan's three megabanks show the challenges they continue to face in improving core revenue, both at home and overseas, although their buildup in capital is credit positive. "Also on a positive note, asset quality improved at all three banks from already strong levels, while credit costs declined, and retained earnings and reduced equity holdings raised capital ratios," says Tetsuya Yamamoto, a Moody's Vice President and Senior Credit Officer. The three megabanks are Mitsubishi UFJ Financial Group, Inc. (MUFG, A1 stable), Mizuho Financial Group, Inc. (A1 stable) and Sumitomo Mitsui Financial Group, Inc. (SMFG, A1 stable).
Mitsubishi UFJ Financial Group Inc said on Thursday Jon Lindenberg has been promoted to head of investment banking for the Americas. Lindenberg, previously deputy head of investment banking and head of ...
Mitsubishi UFJ Financial Group (MUFG) reports impressive earnings for fiscal 2017 (Mar 31, 2018), driven by low credit costs and strong deposits.
Japan's biggest banks have begun major revamps of their domestic retail networks, as the cost of maintaining traditional branches weighs heavily at a time of diminishing revenue and a shift in how consumers conduct financial transactions. Mitsubishi UFJ Financial Group Inc (MUFG) , Japan's largest lender, said on Tuesday it will cut its number of domestic branches by 20 percent over six years from about 500. Under the plan, part of a medium-term strategy, MUFG said the number of conventional retail branches will be halved, as many will be replaced by self service-style branches.
Mitsubishi UFJ Financial Group (MUFG) is scheduled to report fourth-quarter fiscal 2018 (ended Mar 31, 2018) results on May 15. Let's see how the company will perform this time.
The Zacks Analyst Blog Highlights: Autohome, Kingdee International Software Group, Mitsubishi UFJ Financial Group and Woori Bank
HOUSTON, May 1, 2018 /PRNewswire/ -- PurePoint® Financial, a hybrid digital bank and division of MUFG Union Bank, N.A. aimed at committed savers, this week introduced a new art gallery within its Financial Center at The Woodlands. Lynn Lane, an intermedia artist and Houston native, is the official photographer for the Houston Grand Opera and Alley Theatre. Recently named the "Best Photographer in Houston" by the Houston Press and one of the "Top Five Creatives to Watch in 2018" by Free Press Houston, he also teaches photography courses at the Houston Center for Photography and has had his work published internationally.
Japan’s biggest bank has been accused by New York officials of dodging tough oversight by swapping its state license for a federal one, putting itself under a U.S. agency on the front lines of President ...
Charity Babington Falls Joins as Senior Wealth Strategist SAN DIEGO , April 17, 2018 /PRNewswire/ -- Union Bank today announced that Charity Babington Falls has joined the company as a Director and Senior ...
SAN DIEGO , April 12, 2018 /PRNewswire/ -- Union Bank today announced that Barry Wellins has joined its Private Banking team as Regional Director for San Diego reporting to Steve Mahinfar, Managing Director, ...
Mitsubishi UFJ (MUFG) to close unprofitable domestic branches. For this, it will book a charge of 50 billion yen in its results for the fiscal year ended Mar 31, 2018.
BOCA RATON, Fla., April 11, 2018 /PRNewswire/ -- PurePoint® Financial, a hybrid digital bank and division of MUFG Union Bank, N.A., today announced the opening of its latest Financial Center, in Boca Raton, aimed at committed savers. Beginning this week, resident of Boca Raton and those in the surrounding communities will be able to visit the PurePoint Financial Center and enjoy a modern, streamlined and cashless banking experience along with a relaxed setting and hospitality area.
Mitsubishi UFJ Financial Group (MUFG) plans to book a charge of 50 billion yen ($470 million) for the year ended March, as it closes or merges unprofitable domestic branches to cut costs, two people with knowledge of the matter told Reuters. A spokesman for Japan's largest lender declined to comment. MUFG, which has 500 branches in the country, is scheduled to announce its annual results in May. At the end of the first nine months, it had already earned 90 percent of a projected full-year profit of 950 billion yen.
NEW YORK , April 2, 2018 /PRNewswire/ -- Mitsubishi UFJ Financial Group, Inc. (MUFG) today announced that Roger Blissett , 55, has joined the company as Head of the newly created Government Affairs Office ...
LOS ANGELES , March 29, 2018 /PRNewswire/ -- MUFG Union Bank, N.A. (MUFG) today announced the initial results of its partnership with The Student Conservation Association (SCA). In the last five months ...
Sullivan's 'Demonstrated Success,' Will Add Value for Clients, Says Jon Lindenberg, MUFG's Deputy Head of Investment Banking for the Americas NEW YORK , March 27, 2018 /PRNewswire/ -- Mitsubishi UFJ Financial ...
Ringing today's closing bells are Mr. Muneaki Tokunari, Group CFO, MUFG, at the NYSE and Level One Bancorp CEO Patrick Fehring at the Nasdaq.