Tokyo, July 13 (Jiji Press)–Mitsubishi UFJ Financial Group Inc. became Japan’s most valuable company by market capitalization for the first time Monday, thanks to an improved business environment resulting from the Bank of Japan’s interest rate hikes. On the Tokyo Stock Exchange, MUFG shares briefly soared to 3,564 yen apiece, up 103 yen from Friday’s close, hitting an all-time high. Its market capitalization reached 42 trillion yen, surpassing the market capitalizations of Toyota Motor Corp. and memory chip manufacturer Kioxia Holdings Corp. The Japanese megabank group estimates that a 0.25-percentage-point rise in the BOJ’s policy rate would boost its earnings by 180 billion yen. For fiscal 2026, which ends in March 2027, the group targets a consolidated net profit of 2.7 trillion yen, up 11.2 pct from the previous year, on the assumption that the policy interest rate is around 1 pct. END [Copyright The Jiji Press, Ltd.]
MUFG Becomes Japan’s Most Valuable Firm for 1st Time
Related Posts
CRA Grills Japan Ruling Bloc over Secondary Capital Bill
Tokyo, July 13 (Jiji Press)–Japan’s opposition Centrist Reform Alliance on Monday grilled the ruling bloc over a bill to establish a secondary capital of the country, arguing that the plan is based on a foregone conclusion that the western prefecture of Osaka
Nikkei Average Briefly Sheds Over 1,300 Points in Morning
Tokyo, July 13 (Jiji Press)–Japan’s benchmark Nikkei 225 stock average briefly slipped over 1,300 points Monday morning, led by selling of index futures triggered by a plunge in South Korean chipmaker SK Hynix in South Korea’s stock market. The index of 225
