Yesterday, the rarely traded and as it seems not so popular Mitsubishi UFJ Finan (PINK:MBFJF) stock climbed up by 7.83%, following the announcement of the company’s positive financial results for the fiscal year ended March 31, 2010.
Before yesterday’s upward move, MBFJF stock had not been traded for four trading sessions. The latest strong demand for MBFJF stock was noticed at the end of July.
Mitsubishi UFJ Financial Group, Inc. operates its main businesses under an integrated business group, which combines the operations of the company’s subsidiaries in the following three areas -Retail, Corporate and Trust Assets.
In order to better cope with the rapidly changing global business and regulatory environment and to strengthen the group’s global strategic alliance with Morgan Stanley, in May this year MBFJF and Morgan Stanley created two joint venture securities companies in Japan.[BANNER]
These companies were named Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. (MUMSS), and Morgan Stanley MUFG Securities Co., Ltd. (MSMS). MBFJF holds a 60% economic interest in each of the above named joint ventures.
On the background of investors withdrawing their interest from the shares of financial services companies and the slow increasing confidence in financial sector securities, it looks like MBFJF may deserve attention. The announced by MBFJF increase in revenues, assets and total shareholders’ equity sound convincing that the demand for MBFJF stock may also further increase.
