MUFG revises earnings forecasts for fiscal year

Mitsubishi UFJ Financial Group, Inc. (MUFG) has announced the revisions of its forecasts of earnings and dividend per share on common stock for the fiscal year ended 31 March 2009.

From the previous forecast of 350 billion yen for ordinary profits, MUFG revised it to 80 billion yen. The revised forecast was mainly due to impairment losses on marketable equity securities caused by the decline of market share prices.

As for non-consolidated earnings, MUFG has also revised its forecasts for the fiscal year ended 31 March 2009. Due to decrease in dividends received from its subsidiaries, MUFG announced a 205 billion yen revision for its non-consolidated ordinary profits.

MUFG’s forecast for dividend per share on common stock was also revised due to the downward revision of earnings forecasts.

MUFG provides deposit, lending, leasing, investment advice, and trust services in Japan and overseas.

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