Japan Banks See Another Record Year Despite Mideast Concerns

Mitsubishi UFJ Financial Group Inc. and Mizuho Financial Group Inc. forecast another year of profit growth, even as the Middle East conflict poses risks to Japan’s biggest banks and their clients.

MUFG expects net income to climb about 11% to a record ¥2.7 trillion ($17 billion) in the year ending March 2027, the country’s largest bank said in a statement on Friday. Mizuho forecasts profit will gain 4% to ¥1.3 trillion, also an all-time high.