Mitsubishi UFJ Financial Group Inc. (MTU, Financial) is traded at close to a 52-week low of $4.4. Mitsubishi Tokyo provides a variety of financial and investment services such as commercial banking, asset management services and trust banking. It is Japan’s largest listed lender. Mitsubishi Ufj Financial Group Inc. has a market cap of $64.77 billion; its shares were traded at around $4.58 with a P/E ratio of 10.9 and P/S ratio of 1.19. The dividend yield of Mitsubishi Ufj Financial Group Inc. stocks is 1.42%.
Over the last five years, Mitsubishi Mitsubishi UFJ Financial Group’s stock has slid down steadily from $15.66 in April 2006, to around $4.56 in April 2011. Year to date, it is down 16.6%. Mitsubishi UFJ has a brokerage joint venture with Morgan Stanley formed when Mitsubishi purchased a 21% stake in Morgan Stanley during the financial crisis in 2008 for $9 billion. The joint venture, Mitsubishi UFJ Financial Group, is 60% owned by MUFG and 40% by Morgan Stanley. Losses in the bond operations of the Mitsubishi UFJ Morgan Stanley brokerage unit have resulted in a $962 million loss for the year ended in March, according to the Nikkei’s website.
Presumably to help mitigate its losses, the bank is considering selling its 29.9% stake in Kim Eng Holdings Ltd., a Singapore brokerage firm.
Recently, Mitsubishi UFJ Financial Group has been in good financial health. It announced that consolidated net income for the interim period of fiscal 2010 increased from 215.8 billion yen in the same period last year, to 356.7 billion yen this year. The bank attributed the rise to increased business profits and a decline in credit costs. Prior years were less positive – from June 2008 to March 2009, the company lost over $2 billion.
On March 11, the International Monetary Fund downgraded its economic growth forecast for Japan, saying that the damage from the earthquake will likely be equivalent to 3-5% of its gross domestic product, which will impede growth. On March 28, Goldman Sachs Group Inc. nearly halved its growth forecast for Japan’s economy.
As of December 31, 2010, two gurus held this stock – Kenneth Fisher and Charles Brandes. Richard Pzena sold out of the stock in the quarter ended June 30, 2010, and Dodge & Cox sold out on the quarter ended Dec. 31, 2008.
Kenneth Fisher has been acquiring the stock almost every quarter since the second quarter of 2006, except for four in which he sold. As of Dec. 31, 2010, he owns 39,197,249 shares. His quarterly trade report is not out yet, which will say whether he purchase more stock after the earthquake.
Over the last five years, Mitsubishi Mitsubishi UFJ Financial Group’s stock has slid down steadily from $15.66 in April 2006, to around $4.56 in April 2011. Year to date, it is down 16.6%. Mitsubishi UFJ has a brokerage joint venture with Morgan Stanley formed when Mitsubishi purchased a 21% stake in Morgan Stanley during the financial crisis in 2008 for $9 billion. The joint venture, Mitsubishi UFJ Financial Group, is 60% owned by MUFG and 40% by Morgan Stanley. Losses in the bond operations of the Mitsubishi UFJ Morgan Stanley brokerage unit have resulted in a $962 million loss for the year ended in March, according to the Nikkei’s website.
Presumably to help mitigate its losses, the bank is considering selling its 29.9% stake in Kim Eng Holdings Ltd., a Singapore brokerage firm.
Recently, Mitsubishi UFJ Financial Group has been in good financial health. It announced that consolidated net income for the interim period of fiscal 2010 increased from 215.8 billion yen in the same period last year, to 356.7 billion yen this year. The bank attributed the rise to increased business profits and a decline in credit costs. Prior years were less positive – from June 2008 to March 2009, the company lost over $2 billion.
On March 11, the International Monetary Fund downgraded its economic growth forecast for Japan, saying that the damage from the earthquake will likely be equivalent to 3-5% of its gross domestic product, which will impede growth. On March 28, Goldman Sachs Group Inc. nearly halved its growth forecast for Japan’s economy.
As of December 31, 2010, two gurus held this stock – Kenneth Fisher and Charles Brandes. Richard Pzena sold out of the stock in the quarter ended June 30, 2010, and Dodge & Cox sold out on the quarter ended Dec. 31, 2008.
Kenneth Fisher has been acquiring the stock almost every quarter since the second quarter of 2006, except for four in which he sold. As of Dec. 31, 2010, he owns 39,197,249 shares. His quarterly trade report is not out yet, which will say whether he purchase more stock after the earthquake.
