Japan's Top Banks Project Record Profits Amid Rising Interest Rates

Mitsubishi UFJ, Sumitomo Mitsui, and Mizuho forecast substantial earnings growth following the end of negative interest rates.

MUFG, Japan's largest lender, anticipates net income of ¥1.5 trillion, a slight increase from last year.
Sumitomo Mitsui expects a 10% profit increase, surpassing ¥1 trillion for the first time.
Mizuho forecasts a 10.5% rise in profits, reaching ¥750 billion.
Higher domestic and overseas interest rates, along with a weaker yen, are boosting bank earnings.
Both MUFG and SMFG plan significant share buybacks, while Mizuho focuses on capital reserves for growth.