Mitsubishi Tokyo Financial Group News

Mitsubishi UFJ Financial Group Inc. , Japana s biggest bank, forecast a return to profit after slumping stock investments and rising bad loans led to its first full- year loss.

Mitsubishi UFJ Financial Group Inc., Japana s biggest bank, posted its first full-year loss after the global financial crisis sent markets tumbling, cutting the value of investments.

Mitsubishi UFJ Financial Group , Japan's biggest bank, said on Monday it plans to close 50 branches and cut 1,000 jobs to continue slimming down its operations since its merger in 2005, as a tumbling stock market depletes its earnings.

Asian stocks and U.S. futures retreated after Chinaa s industrial production slowed, Australiaa s jobless rate rose and Japanese government data confirmed the nationa s economy shrank the most since 1974.

Japanese stocks tumbled Monday with relentless fears about the global economy and financial sector sending the benchmark index to a 26-year closing low.

Mitsubishi UFJ Financial Group Inc., Japana s biggest bank, will book 288 billion yen in charges on stock market investments, threatening to cause the lendera s first loss.

Gravel, sand demand to grow Taiwan s demand for gravel and sand will increase by an estimated 7.2 percent this year, as public works projects launched by the government to revive the local economy come on line.

Japanese megabanks Mitsubishi UFJ and Mizuho Financial appear to have experienced a group net loss in the three months to December due to a plunging stock market, a major daily reported Saturday.