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Japan Major Bank Groups Log 32 Pct Net Profit Fall

Japan Major Bank Groups Log 32 Pct Net Profit Fall

   Tokyo, Aug. 3 (Jiji Press)--The combined consolidated net profits at Japan's five major banking groups totaled 623.8 billion yen for April-June, down 32.3 pct from a year earlier, their latest earnings data have shown.
   Of the five, Mitsubishi UFJ Financial Group Inc. <8306> saw its profit tumble 70.3 pct mainly due to valuation losses on bond holdings following its decision to sell U.S. subsidiary MUFG Union Bank.

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AFP-JIJI PRESS NEWS JOURNAL


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