Japan's top two banks Mitsubishi UFJ and Mizuho Financial said Friday their quarterly profits jumped amid the nation's modest recovery from recession. Mitsubishi UFJ Financial Group, Japan's largest bank, said its net profit more than doubled to 166.3 billion yen ($1.9 billion) in the April-June period from 75.9 billion yen a year earlier. Its rival Mizuho Financial Group Inc., Japan's No. 2 lender, returned to black with a net profit of 149.85 billion yen ($1.7 billion) after a loss of 4.49 billion yen the previous year. The improved results came amid a mild economic recovery in Japan and a rebound in the global economy that has been led by developing nations in Asia.
