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Mitsubishi UFJ and Sumitomo Mitsui will share their earnings on Friday as Japanese banks face a challenge.

ResultsRead the original at Benzinga
Neutral

Mitsubishi UFJ's Q2 estimates show profit per share up 2% from a year ago, but sales down 60%. Its previous Q4 profit-per-share estimate beat is positive, but the new estimates point in different directions.

MUFG · Mitsubishi UFJ Financial Group

AI read · Neutral

The AI's read

These are estimates ahead of Friday's report, not results already announced. A previous-quarter profit-per-share beat is encouraging, but it does not settle the different comparisons in this report.

SMFG · Sumitomo Mitsui Financial Group

AI read · Neutral

The connection

Sumitomo Mitsui's Q2 estimates show profit per share up 20% from a year ago, but sales down 57%. Its previous Q4 profit-per-share estimate beat is positive, but the new estimates point in different directions.

MFG · Mizuho Financial Group

AI read · Bad for MFG

The connection

Mizuho's Q2 estimates put profit per share down 5% and sales down 55% from a year ago. Its Q4 profit-per-share estimate beat is a positive counterpoint, but both current measures point down.

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