Morgan Stanley emerges as most profitable investment bank in Japan again

Morgan Stanley emerges as most profitable investment bank in Japan again

Photographer: Mark Kauzlarich/Bloomberg

Morgan Stanley kept its position as the most profitable investment bank in Japan last year, as demand for overseas bonds from yield-hungry investors helped offset weakness in the trading business.

Net income at Morgan Stanley MUFG Securities Co. rose 8% to 21.3 billion yen ($201 million) in the year ended March, the highest among 10 large global banks that filed annual financial reports in Japan. A jump in trading losses at Goldman Sachs Japan Co. helped push the U.S. bank into third place behind BNP Paribas Securities (Japan) Ltd., which benefited from a drop in selling and administrative costs.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter