Mitsubishi UFJ Financial Group Inc. earned a net profit of more than 1 trillion yen in the 2005 business year while competitor Mizuho Financial Group Inc. booked a record-high net profit, according to earnings reports released Monday by Japan's top two banks.
MUFG's combined net profit totaled 1.182 trillion yen for the year, making it Japan's second-largest earner after Toyota Motor Corp.
MUFG, created Oct. 1 through the merger of Mitsubishi Tokyo Financial Group Inc. and UFJ Holdings Inc., is the world's largest banking group in terms of assets.