• Reuters

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Mitsubishi UFJ Financial Group Inc. said on Monday it expects a 12% drop in annual net profit due to market volatility and an uncertain economic outlook, after scoring a record profit for the previous year.

MUFG, Japan’s largest lender, joins Sumitomo Mitsui Financial Group Inc. and Mizuho Financial Group Inc., Japan’s Nos. 2 and 3 lenders respectively, in offering cautious outlooks.

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