Overview

• Mitsubishi UFJ Financial Group raised its annual net profit forecast to a record 1.75 trillion yen after a 90% increase in Q2 profits.
• Mizuho Financial Group reported a 62% rise in second-quarter net profit, lifting its full-year profit guidance to 820 billion yen.
• The Bank of Japan's policy rate hike to 0.25% in July has improved lending margins for Japanese banks.
• Mizuho announced a rare share buyback, repurchasing 50 million shares worth 100 billion yen, and increased its annual dividend forecast.
• Japanese banks have benefited from the end of seven years of negative interest rates, which concluded in March.