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Mitsubishi UFJ Financial Group Inc. reported higher-than-expected profits in the first quarter due to a decrease in credit costs, maintaining its forecast for a record profit for the year. Japan's largest bank said on Monday that its net profit for the three months ending June 30 fell by 1.8% compared to the same period last year, to 546.1 billion yen (approximately 3.7 billion USD). This figure exceeded analysts' average expectation of 490.1 billion yen.
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