Latest news with #MitsubishiUFJFinancialGroupInc.
Yomiuri Shimbun
2 days ago
- Business
- Yomiuri Shimbun
MUFG Sets Up New Fund for Japanese Movies, Aiming to Inject Some Hollywood-level Cash into Industry
Yomiuri Shimbun file photo The head office of Mitsubishi UFJ Financial Group Inc., in Chiyoda Ward, Tokyo Mitsubishi UFJ Financial Group Inc. has announced a new fund that it has established for investing in film production. Kodansha Ltd. and Credeus Inc., a movie production company known for its Kingdom series, have together set up a new company that will receive contributions from the fund. They will also seek funds from outside investors. Japan's film projects are viewed as less capable of raising funds than their overseas peers. The MUFG and its partners aim to attract money into Japanese projects to make movies that are internationally competitive. For this venture, Mitsubishi UFJ Trust and Banking Corp. is putting together and managing the fund and will also seek out investors. MUFG Bank is contributing ¥6.6 billion and in return will receive part of box-office sales. The total size of the fund has not yet been decided. Generally, Japanese movies are made under the 'production committee method,' in which the companies involved each put up some of the money needed. If the new project is successful, it would broaden the range of options for procuring funds to include investors and financial institutions. In the United States, the movie industry can rely on huge sums of money from investors. This has led to the production of many movies that have become global hits.
Yomiuri Shimbun
16-05-2025
- Business
- Yomiuri Shimbun
3 Major Japan Banks' Net Profit Hits Record High for 2nd Yr
The Yomiuri Shimbun Logos of three major Japanese banking groups TOKYO (Jiji Press) — The combined net profit of three major Japanese banking groups in fiscal 2024 grew 25.3% from the previous year to ¥3,926..3 billion , hitting a record high for the second straight year. The three groups—Mitsubishi UFJ Financial Group Inc., Sumitomo Mitsui Financial Group Inc. and Mizuho Financial Group Inc.—saw their earnings boosted by improved margins and gains on sales of equities and other assets, thanks to higher interest rates following policy rate hikes by the Bank of Japan. Revenues linked to deposits and loans went up on the back of increased lending amid robust corporate activity. The banking groups also sold off cross-held shares, with profits from such moves standing at ¥602.9 billion at Mitsubishi UFJ, ¥485 billion at Sumitomo Mitsui and over ¥200 billion at Mizuho. As a result, they each logged their respective record net profits. At a press conference on Thursday, Mitsubishi UFJ Group CEO Hironori Kamezawa said that the banking group continues to face 'strong growth both in terms of quality and quantity.' For the year that ended this March, the combined net profit of the three megabanks plus two other banking groups—Sumitomo Mitsui Trust Group Inc. and Resona Holdings Inc.—surged 30.5% to ¥4,397.3 billion . All five banking groups projected rises in their net profits for the current fiscal year, with the four excluding Resona predicting that their profits will hit new record highs. In light of U.S. President Donald Trump's high tariffs, the three megabanks said they expect their profits to decrease by ¥80-110 billion due to an economic slowdown and financial market turmoil. Sumitomo Mitsui Group CEO Toru Nakashima said that the negative effects from the Trump tariffs have already started to weigh on his company's businesses.
15-05-2025
- Business
3 Major Japan Banks' Net Profit Hits Record High for 2nd Yr
News from Japan Economy May 15, 2025 21:29 (JST) Tokyo, May 15 (Jiji Press)--The combined net profit of three major Japanese banking groups in fiscal 2024 grew 25.3 pct from the previous year to 3,926.3 billion yen, hitting a record high for the second straight year. The three groups--Mitsubishi UFJ Financial Group Inc., Sumitomo Mitsui Financial Group Inc. and Mizuho Financial Group Inc.--saw their earnings boosted by improved margins and gains on sales of equities and other assets, thanks to higher interest rates following policy rate hikes by the Bank of Japan. Revenues linked to deposits and loans went up on the back of increased lending amid robust corporate activity. The banking groups also sold off cross-held shares, with profits from such moves standing at 602.9 billion yen at Mitsubishi UFJ, 485 billion yen at Sumitomo Mitsui and over 200 billion yen at Mizuho. As a result, they each logged their respective record net profits. [Copyright The Jiji Press, Ltd.] Jiji Press
15-05-2025
- Business
3 Major Japan Banks Log Record Net Profits for 2nd Year
News from Japan Economy May 15, 2025 18:53 (JST) Tokyo, May 15 (Jiji Press)--The combined net profit of three major Japanese banking groups in fiscal 2024 grew 25.3 pct from the previous year to 3,926.3 billion yen, hitting a record high for the second straight year. The three groups--Mitsubishi UFJ Financial Group Inc., Sumitomo Mitsui Financial Group Inc. and Mizuho Financial Group Inc.--saw their earnings boosted by improved margins and gains on sales of equities and other assets, thanks to higher interest rates following policy rate hikes by the Bank of Japan. Revenues linked to deposits and loans went up on the back of increased lending amid robust corporate activity. The banking groups also sold off cross-held shares ahead of schedule amid high stock prices, and each logged their respective record net profits. END [Copyright The Jiji Press, Ltd.] Jiji Press
Bloomberg
02-05-2025
- Business
- Bloomberg
MUFG Joint Venture Stops Selling Structured Loans After Scrutiny
Mitsubishi UFJ Morgan Stanley Securities Co. has stopped selling so-called structured loans after purchases of the products by regional banks prompted a regulatory backlash. The firm discontinued sales this month of the products, including Japanese government bonds repackaged into loans, a representative for the joint venture between Mitsubishi UFJ Financial Group Inc. and Morgan Stanley said in response to queries from Bloomberg News. It's the first known instance of a major brokerage ending this business in what was a booming market.
