InfoAnda - Japan's Mitsubishi UFJ posts 64 percent profit drop

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Russia expels British journalist for 'breaking rules' | 9 February 2011
Analysis: Sarkozy, Hollande snipe at EU to woo voters | | 19 March 2012
South Korea imposes new wave of Iran sanctions | 8 September 2010

Libya on edge as Kadhafi forces fight back in west | 25 February 2011

">Forum Views () ">Forum Replies ()

Read more with google mobile : Japan's Mitsubishi UFJ posts 64 percent profit drop

Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Japan's Mitsubishi UFJ posts 64 percent profit drop AFP - Wednesday, November 19 TOKYO (AFP) - - Japanese megabank Mitsubishi UFJ Financial Group (MUFG) said Tuesday its first-half net profits slumped 64 percent, battered by the global financial crisis and a weak domestic economy. MUFG, which is buying a chunk of Wall Street giant Morgan Stanley, said net profit tumbled to 92.0 billion yen (948 million dollars) in the six months to September, down from 256.7 billion a year earlier. The figure was even lower than a preliminary estimate of a 100 billion yen profit given by the group last month. "In addition to sluggish financial markets at home and abroad, rising credit costs and impairment in our shareholdings affected" profits, group president Nobuo Kuroyanagi told reporters. Mitsubishi UFJ kept its forecast for net profit to drop 65 percent to 220 billion yen in the full financial year to March. Last month it slashed the forecast from a previous projection of 640 billion yen. Japan's banks had been seen as relatively resilient to the global financial crisis that brought down once-mighty US banks Bear Stearns and Lehman Brothers and pushed financial firms worldwide to the brink of bankruptcy. But they are now being squeezed by a plunging stock market and a Japanese economy in recession. Credit cost in the first half to September increased by 67.4 billion yen from the previous year to 334.9 billion, and losses from the falling value of shareholdings swelled by 129.7 billion yen to 75.2 billion, the megabank said. Credit costs from its overseas operation stood at roughly 50 billion yen, of which 23.5 billion yen came from losses related to Lehman Brothers, it said. "Credit costs have accumulated primarily from (loans to) small and mid-sized companies, which are different from our past experience when big companies failed" as Japan's own financial bubble burst in the 1990s, Kuroyanagi said. He said the problems were widening from the construction and real estate sectors to a range of industries including manufacturing and services. Mitsubishi UFJ said last month it would tap investors for up to 10.5 billion dollars to weather the financial crisis and pay for the Morgan Stanley deal, which Kuroyanagi said would eventually pay off from the Japanese megabank. "I believe that demand for the banking business... involving mergers and acquisitions and equity will be there at the global level and among globalised Japanese companies" once the global economy turns around, he said. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Oz Minerals warns on profit, possible writedownsReuters - 1 hour 9 minutes ago US sees long road to recovery as economic gloom spreadsAFP - 2 hours 17 minutes ago Ecuador to impose raft of import controlsAP - Wednesday, November 19 Online sales growth in October slowest on recordAP - Wednesday, November 19 Related Articles: Business BofA CEO: There are '1 too many' Detroit 3 membersAP - 28 minutes ago Japan Hot Stocks-Mazda gains as Ford to sell stakeReuters - 33 minutes ago Nikkei edges down as global recession fears weighReuters - 50 minutes ago Seoul shares open higher but quickly lose gainsReuters - 50 minutes ago South Korean won rises early, firmer stocks helpReuters - 54 minutes ago Enlarge Photo Japan's Mitsubishi UFJ posts 64 percent profit drop Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Citigroup to slash 50,000 jobs, expenses worldwide Exercise, sleep cuts cancer risk: study Obama and McCain pledge 'new era of reform' Acinetobacter is emerging hospital superbug: study Earth would be heading to a freeze without CO2 emissions View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

Other News on Tuesday, 18 November 2008
Ten killed in Pakistani Taliban and tribal clashes: official
Israel renews blockade of Gaza crossings | International |
Barclays' proposed Gulf investors amend injection plan
Japan opposition seeks to force early election | International |
Afghans expect more talks soon with ex-Taliban | International |
Congo replaces army chief after defeats by rebels | International |
Russia, China to resume $25 billion loan talks
China denies attempting to get U.S. space data | International |
Experts: Half world faces water shortage by 2080
Iran speaker urges Iraq to resist U.S. pact: report | International |
Taiwan's Hua Nan Fin to write off more bad debts
More Iraqis travel abroad despite airport chaos | International |
Taiwan c.bnk to adjust rates to suitable levels
Hijacked Saudi tanker off Somali coast: US
Iran MPs approve Ahmadinejad's interior minister | International |
Taiwan stocks fall
China oil demand weakens due to global crisis
Sci Fi's Sanctuary a true Web-to-TV pioneer | Technology |
Hong Kong index falls 4.5 pct as bank shares hit
China picks up 3G pace, Mobile completes gear deals | Technology |
ADB says Asia economically dynamic despite crisis
China stocks tumble on profit-taking
Mazda: Ford to cut stake to 13 from 33.4 percent
Nicole Kidman says she's unsure about future acting | Entertainment |
Unhappy people watch more TV: study | Entertainment |
Reunited Kate and Leo lost on Revolutionary Road | Entertainment |
Rock stars tuning up for guitar documentary | Entertainment |
Australia makers vow to protect Aboriginal boy star | Entertainment |
Bon Jovi writing new songs for hits set | Entertainment |
Forest Whitaker and Sundance trying to save Newark | Entertainment |
Sci Fi's Sanctuary a true Web-to-TV pioneer | Entertainment |
Iraq PM tries to rally support for security pact
Archeologists say they found witch doctor skeleton
Hijacked Saudi tanker reaches Somalia | International |
Web 2.0 gives new tools to hate groups: experts
UN resumes food distribution in Gaza
Landmark windpipe transplant uses patient stemcells
Iraq PM says pact's critics want U.S. troops to stay | International |
Iranian parliament chooses new interior minister
Iraq announces date for long-delayed elections
Astronauts begin first spacewalk of Endeavour mission
Iran aims for 2009 launch of nuclear plant | International |
Saudi super-tanker taken to Somali pirate lair
UN to hear Croatia genocide claim against Serbia:
US financial rescue package 'not a panacea': Paulson
Brewer InBev completes takeover of Anheuser-Busch
Accused Syrian arms dealer not a Spanish spy: U.S. | International |
Russia coma reporter had received death threats | International |
Seoul shares open higher but quickly lose gains
Obama's rise forces Brazil to look at racial divide | International |
Obama vows to engage world on climate change
South Korean won rises early, firmer stocks help
Obama vows to engage world on climate change
NATO chief calls for more non-US troops in Afghanistan
Israel renews blockade of Gaza crossings | International |
Schwarzenegger opens climate change summit
Top US military officer: Taliban gains upper hand
Japan's Mitsubishi UFJ posts 64 percent profit drop
World frets about piracy, ignores Somalis' plight: group | International |
Crisis could mean bargains for China
US, Iraq differ on Iranian meddling in military pact
India sees growth accelerating to 9 pct next year
Tech firms turn to social media to reach consumers | Technology |
China calls for US economic talks to continue under Obama
Gulf War syndrome is real: US panel
Taiwan to hand out shopping coupons to boost economy: PM
Cuban responds to SEC, says no secrecy deal | Technology |
Europe stocks hit day high, helped by Wall St, oils
China approves US-Belgian beer merger
DoCoMo, KT Freetel to develop smart phone: report | Technology |
Bakrie squirms as crisis slams Indonesia
IBM says plans to acquire Transitive Corp | Technology |
Stars walk red carpet for Australia premiere | Entertainment |
Cool cat Travolta is a dog in latest role | Entertainment |
Jackson may be too unwell to travel to UK court | Entertainment |
Bond film piles on the millions in Britain | Entertainment |
For Wall-E director, art mixes well with commerce | Entertainment |
New U.N. art work raises controversy | Entertainment |
Opera may be coming to a movie theatre near you | Entertainment |
US commander hopes Obama moves quickly on Afghanistan
US arrests suspected Iranian agent in Iraq
Somali pirates seize Greek carrier | International |
Afghans pushing for a return to public execution
NASA tests "deep space Internet"
Suspected U.S. drone attack kills four in Pakistan | International |
Five killed in US missile strike in northwest Pakistan: officials
Malkin takes ice hockey puck to the face, sees scoring streak end
Strong earthquake strikes Panama | International |
Britain resumes high-level intelligence links with Syria: report
Obama girls visit their future White House home
Iraq PM says pact's critics want U.S. troops to stay | International |
Party politics undermine German economic defences
U.S. commander in Afghanistan has reconciliation plan | International |
China seeks to curb unrest amid finance crisis | International |
China's Hu puts off Cuba debt payments | International |
Texas jury indicts Cheney, Gonzalez in prison abuse case
Seoul shares halve losses; bashed techs bounce
North and South Koreans find cause for unity: Japan | International |
US forsees resususcitation of Doha round at APEC
Socialism and consumerism rub shoulders in Tripoli | International |
Sands blames Beijing and Macau for halt on casino project: report
Obama picks first African-American attorney general: media
S.Korea bond futures jump on BOK liquidity pledge
US museum head says Mexico should get Mayan jade
Microsoft to offer free security software | Technology |
Seoul shares drop but off low; LG Elec up
South Korea won edges up, ends 6-day losing streak
Mazda buys back chunk of own shares from Ford
Wynn backs government's travel curbs in Macau
Hollywood's Wizard of Oz lauded for stunning, sexy epic | Entertainment |
ADB lends 300 mln dlrs to China for railway line
Transporter 3 a new low for the action series | Entertainment |
China to build new oil, gas pipeline across Myanmar: state media
Nissan expects 'zero' second-half profits: CEO
Big changes in store for low-rated Daytime Emmys | Entertainment |
Stars walk red carpet for Australia premiere | Entertainment |
Italy fetes half century of Fellini's Dolce Vita | Entertainment |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01