Mitsubishi UFJ earnings date
Mitsubishi UFJ (MFZA) Q2 2026 Earnings Report
DE:MFZA Q2 2026 EPS Results
- Actual EPS
- ―
- Consensus EPS
- EUR 0.39
- Beat/Miss
- ―
- One Year Ago EPS
- EUR 0.38
DE:MFZA Q2 2026 Revenue Results
- Actual Revenue
- ―
- Expected Revenue
- EUR 9.69B
- Beat/Miss
- ―
- YoY Revenue Growth
- ―
Earnings Announcement Details
- Quarter
- Q2 2026
- Date
- 11/13/2026
- Time
- TBA
- Conference Call
- Friday, November 13, 2026
Mitsubishi UFJ's next earnings date is estimated for February 4, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
The call was strongly positive. MUFG reported record first-half profit, higher gross profit and net operating profit, lower credit costs, strong fee growth, improved lending spreads, progress in its strategic initiatives, and an upward revision to its full-year profit target and shareholder returns. The main challenges were higher expenses, lower gains from equity sales, a lower CET1 ratio, slower expected second-half treasury gains, currency and tariff uncertainty, and selected regional and business-group weakness. These lowlights were meaningful but outweighed by the breadth of the reported earnings and strategic progress.
Management revised the FY '25 net income target from JPY 2 trillion to JPY 2.1 trillion, with customer segment expected to exceed the initial plan by around JPY 30 billion, the revision of financial indicators expected to have an impact of approximately JPY 30 billion, one-offs accounting for approximately JPY 40 billion, and NOP expected to have an upside of about JPY 50 billion; the full year credit-cost outlook was kept unchanged, while second-half assumptions include a strong yen toward the end of the fiscal year, slower treasury sales in the second half, credit costs in line with the initial forecast, and an increase in strategic expense allocation, including retail and certain financial measures for FY '26. The company continues to aim for a dividend payout ratio of approximately 40%, revised its FY '25 annual dividend forecast to JPY 74, and plans total full-year share repurchases of JPY 500 billion, including an additional JPY 250 billion in the second half. The CET1 ratio is expected to be somewhere between 10% and 10.5% at the end of FY '25, and the mid- to long-term ROE target remains 12% under assumptions that the policy rate will rise to around 1% and there will be no gain on sale of equity holdings; AI use cases are targeted to increase to over 250 cases by FY '26, with cumulative benefits over the 3 years of the current MTBP approximately JPY 30 billion.
- Record First-Half Net ProfitProfits attributable to owners of parent reached JPY 1,292.9 billion, a record-high first-half profit. Progress toward the initial full-year target of JPY 2 trillion stood at 64.6%, supported by steady growth in net operating profits and equity-accounted earnings, along with one-time gains related to investments and organizational restructuring.
- Gross Profit and Net Operating Profit GrowthGross profits increased by JPY 189.3 billion year-on-year. Net operating profits increased by JPY 61.3 billion year-on-year, reflecting growth in net interest income, net fees and commissions, and customer-segment performance.
- Net Interest Income Benefited from Higher Rates and Portfolio RebalancingNet interest income increased due to the impact of rising yen interest rates, improving lending spreads, and benefits from the prior year's bond portfolio rebalancing.
- Strong Fee and Commission Revenue GrowthNet fees and commissions expanded significantly, primarily due to growth in domestic and overseas solution-service fees and acquisition effects. Acquisitions including WealthNavi, MPMS and NICOS's acquisition of Zenhoren contributed approximately JPY 48 billion. Additional growth came from GCIB's O&D initiatives, MBO and LBO-related lending fees, solution-related fees, asset-management AUM growth, and outsourcing operations at investor services.
- Lower Credit Costs and Healthy Asset QualityCredit costs decreased by JPY 65.7 billion year-on-year. The decline reflected reversals following the sale of large overseas loan-loss provisions, multiple significant reversals in Japan, and lower credit costs at overseas subsidiaries due to stricter screening criteria for new credit transactions in Asian partner banks. The NPL ratio remained at a low level, and the full-year credit-cost outlook was unchanged.
- Growth in Loans and Lending SpreadsLoans increased by approximately JPY 1.8 trillion from the end of FY '24. Excluding government loans, loans increased by approximately JPY 4 trillion in both Japan and overseas. Domestic corporate lending spreads continued to rise for large corporates and SMEs as profitability-improvement measures progressed.
- Improving Overseas Lending Profitability and GCIB FeesMUFG continued working to improve profitability across overseas regions, with a gradual recovery in overseas lending spreads. GCIB experienced a significant increase in fee income as its O&D measures progressed, while the group continued working to improve capital efficiency.
- Equity-Method Earnings Supported by Morgan StanleyEquity in earnings of equity-method investees increased significantly year-on-year, mainly due to Morgan Stanley's extremely strong performance. Morgan Stanley's earnings were also a major contributor to the JPY 150 billion upward revision in ordinary profit.
- Full-Year Net Income Target RaisedMUFG raised its FY '25 net income target by JPY 100 billion, from JPY 2 trillion to JPY 2.1 trillion. The revision reflected better-than-planned customer-segment net operating profit, lower credit costs, upside in Morgan Stanley equity-accounted earnings, and one-time gains not included in the initial forecast.
- Customer Segment and Financial Indicator UpsideCustomer-segment performance is expected to exceed the initial full-year plan by approximately JPY 30 billion. The revision of financial indicators is expected to contribute approximately JPY 30 billion, mainly due to the weak yen. One-time gains from the JACCS share acquisition, Tidlor's acquisition as a subsidiary, and liquidation of local subsidiaries accounted for approximately JPY 40 billion.
- Higher Shareholder ReturnsMUFG maintained its target dividend payout ratio of approximately 40%. The FY '25 annual dividend forecast was raised to JPY 74, up JPY 10 from the previous year and JPY 4 from the initial forecast. The group also approved an additional JPY 250 billion share repurchase for the second half, bringing the full-year total to JPY 500 billion, and announced the cancellation of 200 million treasury shares.
- Progress on Equity-Holding ReductionCumulative equity-holding sales during the current MTBP reached JPY 339 billion on an acquisition-cost basis, approximately half of the JPY 700 billion target. The agreed amount reached nearly 80% of the target, indicating steady progress toward the reduction goal.
- Healthy Investment Securities PositionUnrealized gains on domestic equity securities increased by JPY 0.36 trillion from the end of March 2025, despite continued equity-holding reductions, due to rising stock prices. Unrealized gains and losses on domestic bonds were controlled at just under JPY 0.3 trillion, while foreign bonds were slightly positive. Management described the overall position as extremely healthy with a reasonable degree of flexibility.
- EMUTO Generated Strong Customer ResponseThe new domestic retail service brand EMUTO, launched in June, generated a strong response through credit-card reward programs and group-wide campaigns. These initiatives led to increased transactions for each group company, with MUFG planning to expand services including digital banking.
- AI and Digital Transformation InvestmentMUFG is investing in human capital and strengthening its AI and data foundations while pursuing cultural reform and an AI-native operating model. AI use cases reached 116, with a goal of exceeding 250 cases by FY '26. Management estimates cumulative benefits of approximately JPY 30 billion over the three years of the current MTBP. A new strategic partnership with OpenAI is expected to accelerate company-wide AI use and collaboration on services, primarily in retail and digital banking.
- Progress Toward the 12% ROE TargetMUFG reaffirmed its mid- to long-term ROE target of 12%, based on assumptions including a Japanese policy rate of around 1% and no gains from equity-holding sales. Management said it is pursuing both organic and inorganic growth and is evaluating potential investments based on whether they contribute to achieving the 12% ROE target.
- Sustainable Finance and MTBP Growth Strategy ProgressAll seven growth strategies under the MTBP were described as being on track, contributing approximately JPY 150 billion of additional net operating profit compared with FY '23. Sustainable finance continued building a track record, and MUFG plans to publish another white paper on accelerating transition.
DE:MFZA Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 04, 2027 | 2026 (Q3) | ―- | 0.26 | ― | ― |
| Nov 13, 2026 | 2026 (Q2) | 0.39- | 0.38 | ― | |
| Aug 03, 2026 | 2026 (Q1) | 0.340.41 | 0.29 | 41.30% (+0.12) | |
| May 15, 2026 | 2025 (Q4) | 0.220.31 | 0.06 | 388.57% (+0.25) | |
| Feb 04, 2026 | 2025 (Q3) | 0.260.26 | 0.25 | 5.42% (+0.01) | |
| Nov 14, 2025 | 2025 (Q2) | 0.280.38 | 0.35 | 8.76% (+0.03) | |
| Aug 04, 2025 | 2025 (Q1) | 0.270.29 | 0.29 | -0.62% (-0.00) | |
| May 15, 2025 | 2024 (Q4) | 0.080.06 | 0.09 | -33.33% (-0.03) | |
| Feb 04, 2025 | 2024 (Q3) | 0.160.25 | 0.19 | 32.54% (+0.06) | |
| Nov 14, 2024 | 2024 (Q2) | 0.240.35 | 0.18 | 91.13% (+0.17) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
