Morgan Stanley, owner of the world's largest brokerage, posted the biggest profit among 10 major overseas banks operating in Japan last fiscal year as commissions and fees from equity trading and underwriting rose.
Goldman Sachs Group Inc., JPMorgan Chase & Co. and Barclays PLC joined Morgan Stanley in posting a profit.
The other rivals — Bank of America Corp., Deutsche Bank AG, Citigroup Inc., Credit Suisse Group AG, UBS AG and BNP Paribas SA — had combined losses of ¥170.6 billion, according to individual filings to the government.
The mixed results underscore the difficulties facing foreign banks in Japan even before the record earthquake in March eroded business arranging sales of shares and debt. Morgan Stanley benefited from managing Otsuka Holdings Inc.'s initial public offering in December, the world's biggest health care IPO since at least 2006.
Revenue at Morgan Stanley MUFG Securities Co. more than doubled to ¥80.5 billion, helping it rebound to a ¥22.5 billion profit in the year that ended March 31, the bank said in the filing to the Financial Services Agency. Commissions and fees more than doubled to ¥51 billion, the filing said.
Goldman Sachs' profit sank 51 percent to ¥18.1 billion in the country, while JPMorgan's rose almost fourfold to ¥9.2 billion. Barclays' profit plunged to ¥56 million from ¥8.7 billion, according to their separate filings.