Morgan Stanley Has Record Year in Japan as It Sees More Growth
- Local unit booked highest net revenue since 2010 formation
- Some foreign banks have gained from equity rally, bond shifts
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Morgan Stanley posted record revenue in Japan driven by gains in share and bond trading as it pledged to help boost investment in the country.
Net revenue at Morgan Stanley MUFG Securities Co., the US firm’s majority-owned brokerage venture with Japan’s largest banking group, rose 13% in the year ended March 2024 to 135.8 billion yen ($923 million), according to filings. That was the highest since the unit was established in 2010 and its second straight year of record revenue performance.