The following is a summary of the Mitsubishi UFJ Financial Group, Inc. (MUFG) Q4 2024 Earnings Call Transcript:
Financial Performance:
MUFG reported a year-on-year increase in gross profits by ¥229.5 billion, partly due to a rise in net fees and commissions by ¥130 billion.
The company decreased G&A expenses by ¥19.9 billion year-on-year, attributing this to effective expense control and fewer expenses related to the sale of MUB.
Net operating profit reached a historic high at ¥1,843.7 billion, while net income attributable to owners was up by ¥374.2 billion to ¥1,490.7 billion.
Total credit costs were ¥497.9 billion, indicating a rise due to overseas allowances and individual company factors.
The Return on Equity (ROE) was at 8.5%; excluding the change in closing date of Morgan Stanley, the ROE was 8.1%.
Business Progress:
All of MUFG's customer business segments saw an increase in net operating profit.
The new medium-term business plan (MTBP) aims to reduce the market value to consolidated net assets ratio to less than 20% by the end of the next MTBP period.
Under the new MTBP, MUFG aims to achieve a Return on Equity (ROE) of around 9% by the final year and maintain an expense ratio of around 60% in FY '26.
The company is focusing on growth strategies and driving social and environmental progress.
MUFG targets to maintain the CET1 ratio around 10% and is considering new strategic investments in India.
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