August 2, 2018 / 7:14 AM / 4 months ago

Japan's MUFG Q1 profit up 9 pct, helped by stock holdings sale

TOKYO, Aug 2 (Reuters) - Mitsubishi UFJ Financial Group on Thursday said its net profit rose 9 percent for first quarter ended in June, helped by hefty gains from selling equity holdings.

Japan’s largest lender by asset said net profit came in at 315 billion yen ($2.82 billion) for the quarter, up from 289 billion yen a year earlier.

For the full year ending March, the bank retained its net profit forecast of 850 billion yen, down 14 percent from the previous year and below an average estimate of 926.2 billion yen from 13 analysts polled by Thomson Reuters I/B/E/S. ($1 = 111.6200 yen) (Reporting by Taiga Uranaka; Editing by Himani Sarkar)

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