epa03808377 Pedestrians walk in front of a Mizuho Bank Ltd. branch, a banking unit of Mizuho Financial Group Inc., in Tokyo, Japan, 31 July 2013. Mizuho Financial Group Inc. (MHFG) announced that its net income grew by 35 per cent to 247.9 billion yen or 1.91 billion euros over the previous year in the April-to-June first quarter of the fiscal year. EPA/KIYOSHI OTA
TOKYO: Mitsubishi UFJ Financial Group Inc, Japan’s top lender by assets, and No. 2 Mizuho Financial Group Inc said their quarterly net profits had risen by more than a third, driven by a rally in Japanese stocks that pushed up the value of their equity portfolios.
MUFG and Mizuho join third-ranked Sumitomo Mitsui Financial Group Inc in reporting higher profits for April-June, after expectations for Prime Minister Shinzo Abe’s economic policies propelled Tokyo stocks to an over five-year high in May.
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