Mitsubishi UFJ Financial Group (8306) Q3 2026 earnings summary

Executive summary

• Net operating profits reached ¥1,905.9bn, up ¥275.0bn year-over-year, achieving 84.7% of the FY25 target, driven by customer segment growth and improved interest income, including benefits from prior bond portfolio rebalancing.

• Net income rose to ¥1,813.5bn, up ¥87.8bn year-over-year, with 86.4% progress toward the revised FY25 target of ¥2.1tn, supported by steady NOP growth and equity in earnings of investees.

• Ordinary income for the nine months ended December 31, 2025, rose 3.6% year-over-year to ¥10,643.8bn, with ordinary profits up 3.6% to ¥2,509.3bn and profits attributable to owners of parent up 3.7% to ¥1,813.5bn.

• Comprehensive income increased 30.0% year-over-year to ¥2,188.8bn.

• Achieved a historical high for 1-3Q net income.

Financial highlights

• Gross profits increased by ¥347.7bn year-over-year to ¥4,469.1bn, reflecting overseas acquisitions, higher JPY interest rates, and increased fee revenues.

• Net interest income grew by ¥19.2bn year-over-year to ¥2,193.3bn.

• Total assets as of December 31, 2025, were ¥418,107.9bn, up from ¥413,113.5bn at March 31, 2025.

• G&A expenses increased by ¥156.5bn year-over-year to ¥2,563.2bn, mainly due to overseas acquisitions and inflation, but the expense ratio improved by 1.0 ppt to 57.3%.

• ROE (JPX basis) was 11.5%, nearly flat year-over-year.

Outlook and guidance

• Progress toward the full-year net income target of ¥2.1tn remains solid at 86.4%, with the target revised upward in interim results.

• The target for profits attributable to owners of parent for the fiscal year ending March 31, 2026, remains at ¥2,100.0bn.

• Dividend forecast for the fiscal year ending March 31, 2026, is ¥74.00 per share, up from ¥64.00 in the prior year.