Mitsubishi UFJ Raises Profit Forecast

TOKYO (Reuters) – Mitsubishi UFJ (NYSE:MUFG) Financial Group, Japan's top lender by assets, on Thursday raised its annual net profit forecast to a record 1.75 trillion yen ($11.23 billion) after second-quarter profit surged on higher interest rates and the sale of cross-held shares.

Group net profit for the July-September period came to 702 billion yen, up 90% from 369 billion yen in the year-earlier quarter. It had previously forecast a full-year net profit of 1.5 trillion yen.

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