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Mitsubishi UFJ Financial Group Inc. sank into losses for the fiscal year ended March 31, battered by write-downs on securities amid a market plunge, but Japan's top bank said Tuesday it expects to return to profit this fiscal year.
Japan's biggest bank says it has scrapped plans to buy Citigroup Inc.'s Japan trust banking unit.
Mitsubishi UFJ Financial Group Inc. said Monday it will shutter dozens of branches and cut 1,000 jobs as part of continuing efforts to streamline operations since Japan's biggest bank was formed through a merger three years ago.
Mitsubishi UFJ Financial Group Inc., Japan's largest bank, said first-half net profit plunged 64 percent, battered by an increase in bad loans and losses on its share portfolio.
Mitsubishi UFJ Financial Group Inc. and U.S. investment bank Morgan Stanley are weighing a merger of their brokerage units in Japan, media reports said Friday.
Japan's Mitsubishi UFJ Financial Group says it is investing $9 billion in Morgan Stanley for a 21 percent stake in the U.S. investment bank.
Mitsubishi UFJ Financial Group Inc. and UnionBanCal Corp. agreed on a tender offer at a raised price of $73.50 a share in a deal worth $3.5 billion, the Japanese bank said Monday.
Mitsubishi UFJ Financial Group Inc. said Tuesday its net profit for the fiscal year just ended fell 28 percent from the previous year as it was battered by U.S. subprime credit problems and other credit-related losses.
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