Fitch Ratings believes that profitability at Japan’s four major financial groups - Mitsubishi UFJ Financial Group, Inc. (A-/Stable/a-), Sumitomo Mitsui Financial Group, Inc. (A-/Stable/a-), Mizuho Financial Group, Inc. (A-/Stable/a-) and Sumitomo Mitsui Trust Holdings, Inc. (subsidiary is Sumitomo Mitsui Trust Bank, Limited, A-/Stable/a-) - will remain susceptible to macroeconomic and geopolitical challenges. Fitch forecasts lower rises in profitability leading to slower capital accumulation for the financial year ending March 2024 (FYE24), following the recent highs of reported net incomes in FYE23. Capital ratios ... (full story)