Investors will also look for any changes to the bank’s guidance for the fiscal year ending March 2027. Mitsubishi UFJ has targeted an 11% increase in net profit to 2.700 trillion yen for that year.

A key focus is likely to be net interest income, the difference between interest earned on loans and interest paid on deposits. It rose 28% in the first quarter to 882.40 billion yen as domestic lending spreads widened and loan balances grew. Investors will be watching whether that growth continues.

Credit costs are another concern. Mitsubishi UFJ reported total credit costs of 72.06 billion yen in the first quarter, up from 46.94 billion yen a year earlier. Investors will be monitoring credit charges as the Iran war has pushed up energy prices and increased economic uncertainty.

The bank’s stock has gained 40% year to date, supported by prospects for Bank of Japan rate increases and wider lending spreads.