Japan’s MUFG to book $890 million loss related to unit, stick to forecast: Nikkei

April 22, 2019

TOKYO (Reuters) – Mitsubishi UFJ Financial Group will book about a 100 billion yen ($893.34 million) loss in the year to March after its credit card unit stopped development of a new system, but it will stick to its full-year profit forecast, the Nikkei said.

MUFG, Japan’s biggest bank by assets, will keep its full-year net profit outlook of 950 billion yen, the newspaper said on Monday.

($1 = 111.9400 yen)

(Reporting by Takashi Umekawa; Editing by David Dolan)

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