• Bloomberg


Mitsubishi UFJ Financial Group Inc. posted a 66 percent drop in first-quarter profit, missing analysts’ estimates, as bad-loan costs soared, the company said Tuesday.

Net income declined to ¥51.2 billion in the three months ended June 30 from ¥151.3 billion a year earlier, Japan’s biggest bank by market value said. That was less than the average estimate of ¥127.8 billion by four analysts in a recent survey.

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