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MarketScreener Homepage  >  Equities  >  Japan Exchange  >  Mitsubishi UFJ Financial Group, Inc.    8306   JP3902900004

MITSUBISHI UFJ FINANCIAL GROUP, INC.

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Japan's Nomura to investigate Archegos-related loss: sources

04/08/2021 | 06:23am EDT
FILE PHOTO: Logo of Nomura Holdings is pictured in Tokyo

TOKYO (Reuters) - Japan's Nomura has set up an internal team to investigate a possible $2 billion loss relating to Archegos Capital Management, two people familiar with the matter said.

Archegos, a New York investment fund run by ex-Tiger Asia manager Bill Hwang, collapsed last month when its debt-laden bets on media companies including ViacomCBS unravelled.

Nomura, Credit Suisse and other global banks, which acted as brokers for Archegos, scrambled to sell the shares they held as collateral and unwind the trades.

The loss incurred by Nomura has thrown Japan's biggest brokerage and investment bank's risk management into question and attracted scrutiny from the country's regulators.

Nomura plans to disclose details related to the loss, which it disclosed in March, later this month, possibly on April 27, one of the sources told Reuters.

The bank has set up the team to look into the bank's risk management practices, said the sources, who declined to be named as they were not authorised to speak to the media.

A spokesman for Nomura declined to comment.

Japanese regulators are heightening scrutiny of high-risk trades by financial firms in the wake of Archegos.

The securities unit of Japan's Mitsubishi UFJ Financial Group (MUFG) also said last month its loss related to an unnamed U.S. client was estimated at around $270 million.

A source said the client was Archegos.

(Reporting by Takashi Umekawa; Editing by Sumeet Chatterjee, David Goodman and Alexander Smith)

By Takashi Umekawa


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CREDIT SUISSE GROUP AG 0.35% 9.83 Delayed Quote.-14.07%
MITSUBISHI UFJ FINANCIAL GROUP, INC. 0.09% 583.1 End-of-day quote.27.84%
NOMURA HOLDINGS, INC. -0.85% 580 End-of-day quote.6.42%
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Financials
Sales 2021 3 952 B 36 081 M 36 081 M
Net income 2021 678 B 6 186 M 6 186 M
Net Debt 2021 - - -
P/E ratio 2021 10,9x
Yield 2021 4,29%
Capitalization 7 483 B 68 210 M 68 323 M
Capi. / Sales 2021 1,89x
Capi. / Sales 2022 1,93x
Nbr of Employees 150 800
Free-Float 88,5%
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Technical analysis trends MITSUBISHI UFJ FINANCIAL GROUP, INC.
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Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 645,00 JPY
Last Close Price 582,60 JPY
Spread / Highest target 45,9%
Spread / Average Target 10,7%
Spread / Lowest Target -22,8%
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Managers and Directors
NameTitle
Hironori Kamezawa President & Director
Tetsuya Yonehana Group CFO & Senior Managing Executive Officer
Nobuyuki Hirano Executive Chairman
Hiroki Kameda Group Chief Information Officer
Takayoshi Futae Group Co-COO & GM-Global Commercial Banking
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