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

MITSUBISHI UFJ FINANCIAL GROUP, INC.

(8306)
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S&P revises down credit rating outlook for Japan's megabanks

04/24/2020 | 07:16am EST
The S&P Global logo is displayed on its offices in the financial district in New York

S&P Global Ratings on Friday revised to stable from positive its credit rating outlook for Japan's three major banking groups, as the economic strain from the coronavirus pandemic pushes up credit costs and threatens to erode their revenues.

"We revised the outlooks because we expect the economic strain stemming from the COVID-19 pandemic to put prolonged pressure on the asset quality and revenue of the banking groups," S&P said in a statement.

The revisions affect the ratings on core subsidiaries of Japan's three major banking groups and their holding companies, which are Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group, the rating agency said.

"Creditworthiness of the three banking groups has come under pressure as credit costs rise, unrealized gains on marketable securities fluctuate, and impairment risk grows," it said.

Under a stimulus package unveiled to combat the fallout from the virus, the government has urged financial institutions to offer loans at effectively zero interest to small firms suffering that are slumping sales from the pandemic.

The request exposes Japan's commercial banks, many of which were already faced with falling profits from years of ultra-low interest rates, to the risk of being saddled with huge bad loans that could erode their financial health.

The Bank of Japan warned in a report on Tuesday that the coronavirus pandemic, if prolonged, could trigger a negative feedback loop in which a worsening economy threatens to destabilise Japan's financial system.

(Reporting by Leika Kihara;Editing by Elaine Hardcastle)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. 6.58% 17.99 Delayed Quote.227.09%
JUST GROUP PLC -1.75% 59.6 Delayed Quote.-23.86%
MITSUBISHI UFJ FINANCIAL GROUP, INC. 1.57% 471.4 End-of-day quote.-20.53%
MITSUI & CO., LTD. 2.17% 1882.5 End-of-day quote.-3.26%
MIZUHO FINANCIAL GROUP, INC. 0.39% 1420 End-of-day quote.-15.63%
RISE, INC. 0.00% 24 End-of-day quote.-20.00%
SUMITOMO MITSUI FINANCIAL GROUP, INC. 1.62% 3204 End-of-day quote.-20.65%
THE GLOBAL LTD. 8.48% 243 End-of-day quote.-48.41%
WILL GROUP, INC. 6.52% 980 End-of-day quote.-21.73%
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Financials
Sales 2021 3 993 B 38 237 M 38 237 M
Net income 2021 632 B 6 050 M 6 050 M
Net Debt 2021 - - -
P/E ratio 2021 9,54x
Yield 2021 5,32%
Capitalization 6 055 B 57 865 M 57 988 M
Capi. / Sales 2021 1,52x
Capi. / Sales 2022 1,55x
Nbr of Employees 150 800
Free-Float 88,5%
Chart MITSUBISHI UFJ FINANCIAL GROUP, INC.
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Mitsubishi UFJ Financial Group, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends MITSUBISHI UFJ FINANCIAL GROUP, INC.
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 581,67 JPY
Last Close Price 471,40 JPY
Spread / Highest target 84,6%
Spread / Average Target 23,4%
Spread / Lowest Target -4,54%
EPS Revisions
Managers
NameTitle
Hironori Kamezawa President & Director
Nobuyuki Hirano Executive Chairman
Takayoshi Futae Group Co-COO & GM-Global Commercial Banking
Tetsuya Yonehana Group CFO & Senior Managing Executive Officer
Hiroki Kameda Group Chief Information Officer
Sector and Competitors