MUFG revises FY 2020 earnings target downward by ¥230bn

Maria Nikolova

MUFG has revised its earnings target for the fiscal year ended March 31, 2020 downward by 230 billion yen to 520 billion yen.

Mitsubishi UFJ Financial Group Inc (TYO:8306), or MUFG, today announces that it has revised its target for profits attributable to owners of parent for the fiscal year ended March 31, 2020.

As announced on March 31, 2020, in the consolidated financial statements for the fiscal year ended March 31, 2020, a one-time amortization of goodwill (130.5 billion yen) is planned associated with an impairment loss on shares of Bank of Ayudhya Public Company Limited , a consolidated subsidiary.

At the same time, the volatile market movements in the fourth quarter are expected to have an impact on profits attributable to owners of parent company of approximately ¥65 billion due to impairment of shareholdings and a one-time amortization of goodwill associated with the impairment loss on shares of equity-method affiliates.

In addition, the recording of provisions for some credit in light of the impact of the COVID-19 pandemic is expected to have an impact of approximately ¥35 billion on profits attributable to owners of parent.

As a result, MUFG has revised its earnings target downward by ¥230 billion to ¥520 billion.

Let’s recall that, earlier this year, MUFG revised its earnings target too. The change was ¥150 billion and reflected an extraordinary loss of ¥207.4 billion due to the one-time amortization of goodwill associated with an impairment of PT Bank Danamon Indonesia, Tbk. Stock. The loss was recorded in the consolidated financial statements for the third quarter of the fiscal year ending March 31, 2020 under Japanese GAAP.

Year-end dividend forecasts for the fiscal year ended March 31, 2020 (fiscal year-end 12.5 yen per share, total 25.0 yen per share) are unchanged.

Read this next


BlockDAG Offering a Fresh Take on Meme Coin Development Amid Solana’s Challenges and Floki Inu’s Price Fluctuations With 30,000x ROI

Dive into how BlockDAG’s innovative presale, low-code platforms, and potential 30,000x ROI, outperform Solana’s technical hurdles and Floki Inu’s market predictions.


BlockDAG Excels With $2.2M In Miner Sales And Moonshot Teaser, Overshadowing Litecoin’s Rally And Dogwifhat’s Market Highs

Explore how BlockDAG’s $2 million Miner Sales & Moonshot Teaser eclipse the Litecoin price recovery and the Dogwifhat all-time high.


BlockDAG Leads Top 6 Cryptocurrencies to Buy in 2024 with a Potential Price Surge to $10 Leaving Cosmos, BNB, and Ethereum Behind

Discover the top six cryptocurrencies in 2024, including BDAG’s remarkable growth potential, BNB’s durability, Cosmos’ connectivity, and ETH’s eco-friendly advances.

Retail FX

Weekly Roundup: Prop firm arbitrarily accounts, Interactive Brokers’ CFDs in Japan

FX, Fintech and cryptocurrency markets have been bustling with activity over the past week, as is often the case. Keep yourself informed and ahead of the curve with a curated selection of crucial stories and developments that are most relevant to those engaged in the markets.


BlockDAG Redefines Crypto Mining as Presale Tops $18.5M, Outshining Ethereum ETF & Dogecoin Dynamics

The recent approval of the first Ethereum ETF in Hong Kong underscores a significant advancement in the cryptocurrency’s mainstream acceptance. While Ethereum continues to attract institutional attention, the Dogecoin price prediction suggests a possible resurgence, despite its current undervaluation from past highs.

Digital Assets

Bitcoin halving is done: ViaBTC mines historic block 840K

The Bitcoin network has confirmed its fourth-ever halving block, mined by the cryptocurrency pool ViaBTC, according to data from This significant event in the Bitcoin ecosystem reduced the mining reward by half, a deflationary measure occurring approximately every four years to control the issuance of new bitcoins and curb inflation.

Retail FX

True Forex Funds now offers Match-Trader and cTrader platforms

Proprietary trading firm True Forex Funds today announced the launch of Match-Trader, a multi-asset trading platform developed by California-based FX technology provider Match-Trade Technologies.

Retail FX

CySEC hits FXORO parent with €360,000 fine

The Cyprus Securities and Exchange Commission (CySEC) has fined MCA Intelifunds, trading as FXORO, a total of €360,000 for multiple violations of the Cypriot investment laws.  

Digital Assets

Binance’s CZ in good mood ahead of sentencing, says partner

Yi He, co-founder of cryptocurrency giant Binance, has shared a positive outlook on the legal situation of the exchange’s former CEO, Changpeng Zhao. Zhao is currently awaiting a sentencing hearing scheduled for April 30 in the United States.