三菱UFJフィナンシャルGADRの適時開示

6-K 1 d754923d6k.htm FORM 6-K FORM 6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 under

the Securities Exchange Act of 1934

For the month of February 2024

Commission File No. 000-54189

MITSUBISHI UFJ FINANCIAL GROUP, INC.

(Translation of registrant’s name into English)

7-1, Marunouchi 2-chome, Chiyoda-ku

Tokyo 100-8330, Japan

(Address of principal executive office)

Indicate by check mark whether the registrant files or

will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F X Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K

in paper as permitted by Regulation S-T Rule 101(b)(1):

Indicate by check mark if the registrant is submitting the Form 6-K

in paper as permitted by Regulation S-T Rule 101(b)(7):

THIS REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE IN THE REGISTRATION STATEMENT ON FORM F-3 (NO. 333-273681) OF MITSUBISHI UFJ FINANCIAL GROUP, INC. AND TO BE A PART THEREOF FROM THE DATE ON WHICH THIS REPORT IS FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED WITH OR FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: February 5, 2024


Mitsubishi UFJ Financial Group, Inc.

By:		/s/ Toshinao Endo
Name:		Toshinao Endo
Title:		Managing Director, Head of Documentation & Corporate Secretary Department,
		Corporate Administration Division

LOGO

Consolidated Summary Report

for the nine months ended December 31, 2023

February 5, 2024


Company name:		Mitsubishi UFJ Financial Group, Inc.
Stock exchange listings:		Tokyo, Nagoya, New York
Code number:		8306
URL		https://www.mufg.jp/
Representative:		Hironori Kamezawa, President & Group CEO
For inquiry:		Masahisa Takahashi, Managing Director, Head of Financial Accounting and Reporting, Financial Accounting Office, Financial Planning Division
		TEL +81-50-3613-1179
Quarterly securities report issuing date:		February 14, 2024
Dividend payment date:		-
Trading accounts:		Established
Supplemental information for quarterly financial statements:		Available
Quarterly investor meeting presentation:		None

(Amounts of less than one million yen are rounded down.)

1. Consolidated Financial Data for the Nine Months ended December 31, 2023

(1)	Results of Operations


	(% represents the change from the same period in the previous fiscal year)
	Ordinary Income				Ordinary Profits					Profits Attributable to Owners of Parent
	million yen		%		million yen		%			million yen		%
For the nine months ended
December 31, 2023		8,507,676		25.2		1,801,867		112.3			1,297,916		278.2
December 31, 2022		6,793,767		55.7		848,932		(39.1	)		343,175		(67.9	)

(*)	Comprehensive income

December 31, 2023: 2,368,560 million yen, 416.2%; December 31, 2022: 458,855 million yen, (66.1)%


	Basic earnings per share		Diluted earnings per share
	yen		yen
For the nine months ended
December 31, 2023		108.04		107.78
December 31, 2022		27.69		27.42

(2)	Financial Conditions


	Total Assets		Total Net Assets		Equity-to-asset ratio (*)
	million yen		million yen		%
As of
December 31, 2023		397,056,956		19,994,928		4.8
March 31, 2023		386,799,477		18,272,857		4.5

(Reference) Shareholders’ equity as of December 31, 2023: 18,888,090 million yen; March 31, 2023: 17,231,291 million yen

(*)	“Equity-to-asset ratio” is computed under the formula shown below

(Total net assets - Non-controlling interests) / Total assets

2. Dividends on Common Stock


	Dividends per Share
	1st quarter-end		2nd quarter-end		3rd quarter-end		Fiscal year-end		Total
	yen		yen		yen		yen		yen
For the fiscal year
ended March 31, 2023		—		16.00		—		16.00		32.00
ending March 31, 2024		—		20.50		—
ending March 31, 2024 (Forecast)								20.50		41.00

(*)	Revision of forecasts for dividends on the presentation date of this Consolidated Summary Report: None

3. Earnings Target for the Fiscal Year ending March 31, 2024 (Consolidated)

MUFG has the target of 1,300.0 billion yen of profits attributable to owners of parent for the fiscal year ending March 31, 2024. (There is no change to our earnings target released on May 15, 2023.)

MUFG is engaged in financial service businesses such as banking business, trust banking business, securities business and credit card/loan businesses. Because there are various uncertainties caused by economic situation, market environments and other factors in these businesses, MUFG discloses a target of its profits attributable to owners of parent instead of a forecast of its performance.

ø Notes

(1)	Changes in significant subsidiaries during the period: No

(2)	Adoption of any particular accounting methods for quarterly consolidated financial statements: No

(3)	Changes in accounting policies, changes in accounting estimates and restatements

(A) Changes in accounting policies due to revision of accounting standards: No

(B) Changes in accounting policies due to reasons other than (A): No

(D) Restatements: No

(4)	Number of common stocks outstanding at the end of the period


(A) Total stocks outstanding including treasury stocks:	December 31, 2023	12,337,710,920 shares
	March 31, 2023	12,687,710,920 shares
(B) Treasury stocks:	December 31, 2023	457,337,373 shares
	March 31, 2023	664,065,483 shares
(C) Average outstanding of total stocks:	Nine months ended December 31, 2023	12,013,210,809 shares
	Nine months ended December 31, 2022	12,392,140,124 shares

ø This “Consolidated Summary Report” (Quarterly “Tanshin”) is outside the scope of the external auditor’s quarterly review procedure.

ø Notes for using forecasted information etc.

This financial summary report contains forward-looking statements regarding estimations, forecasts, targets and plans in relation to the results of operations, financial conditions and other overall management of the company and/or the group as a whole (the “forward-looking statements”). The forward-looking statements are made based upon, among other things, the company’s current estimations, perceptions and evaluations. In addition, in order for the company to adopt such estimations, forecasts, targets and plans regarding future events, certain assumptions have been made. Accordingly, due to various risks and uncertainties, the statements and assumptions are inherently not guarantees of future performance, may be considered differently from alternative perspectives and may result in material differences from the actual result. For the main factors that may affect the current forecasts, please see Consolidated Summary Report, Annual Securities Report, Disclosure Book, Annual Report, and other current disclosures that the company has announced.

The financial information included in this financial summary report is prepared and presented in accordance with accounting principles generally accepted in Japan (“Japanese GAAP”). Differences exist between Japanese GAAP and the accounting principles generally accepted in the United States (“U.S. GAAP”) in certain material respects. Such differences have resulted in the past, and are expected to continue to result for this period and future periods, in amounts for certain financial statement line items under U.S. GAAP to differ significantly from the amounts under Japanese GAAP. For example, differences in consolidation basis or accounting for business combinations, including but not limited to amortization and impairment of goodwill, could result in significant differences in our reported financial results between Japanese GAAP and U.S. GAAP. Readers should consult their own professional advisors for an understanding of the differences between Japanese GAAP and U.S. GAAP and how those differences might affect our reported financial results. To date, we have published U.S. GAAP financial results only on a semiannual and annual basis, and currently do not expect to publish U.S. GAAP financial results for the period reported in this financial summary report.

Mitsubishi UFJ Financial Group, Inc.

(Appendix)

Contents of Appendix


1. Consolidated Financial Statements and Notes			2
(1) Consolidated Balance Sheets			2
(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income			4
(3) Notes on Going-Concern Assumption			6
(4) Notes for Material Changes in Shareholders’ Equity			6
(5) Changes in Presentation of Financial Information			6
(6) Additional Information			7

Supplemental Information:

“Selected Financial Information under Japanese GAAP For the Nine Months Ended December 31, 2023”

Mitsubishi UFJ Financial Group, Inc.

1. Consolidated Financial Statements and Notes

(1) Consolidated Balance Sheets


(in millions of yen)	As of March 31, 2023			As of December 31, 2023
Assets:
Cash and due from banks		113,630,172			106,403,021
Call loans and bills bought		618,223			1,741,542
Receivables under resale agreements		14,000,846			18,755,039
Receivables under securities borrowing transactions		4,549,792			4,071,865
Monetary claims bought		7,325,185			8,072,494
Trading assets		18,013,184			24,209,756
Money held in trust		1,287,020			1,287,010
Securities		86,746,900			84,005,495
Loans and bills discounted		109,146,272			114,159,902
Foreign exchanges		2,300,198			2,048,384
Other assets		15,195,896			17,330,986
Tangible fixed assets		1,220,172			1,220,594
Intangible fixed assets		1,358,124			1,504,758
Net defined benefit assets		1,325,434			1,387,833
Deferred tax assets		322,021			223,972
Customers’ liabilities for acceptances and guarantees		11,005,758			12,032,953
Allowance for credit losses		(1,245,727	)		(1,398,655	)

Total assets		386,799,477			397,056,956

Liabilities:
Deposits		213,609,501			216,257,583
Negotiable certificates of deposit		13,632,559			16,896,348
Call money and bills sold		3,449,234			2,919,585
Payables under repurchase agreements		39,982,955			37,741,908
Payables under securities lending transactions		1,171,947			999,961
Commercial papers		2,220,723			3,384,552
Trading liabilities		14,716,820			17,397,115
Borrowed money		24,856,340			24,850,609
Foreign exchanges		2,570,412			2,564,477
Short-term bonds payable		1,047,499			1,169,983
Bonds payable		15,708,720			16,315,321
Due to trust accounts		11,689,414			10,171,787
Other liabilities		12,132,972			13,681,899
Reserve for bonuses		196,850			149,762
Reserve for bonuses to directors		3,639			2,201
Reserve for stocks payment		9,304			9,989
Net defined benefit liabilities		86,445			96,215
Reserve for retirement benefits to directors		830			777
Reserve for loyalty award credits		17,962			19,288
Reserve for contingent losses		164,891			137,456
Reserves under special laws		4,659			5,162
Deferred tax liabilities		157,651			170,206
Deferred tax liabilities for land revaluation		89,525			86,880
Acceptances and guarantees		11,005,758			12,032,953

Total liabilities		368,526,620			377,062,027

Mitsubishi UFJ Financial Group, Inc.


(in millions of yen)	As of March 31, 2023			As of December 31, 2023
Net assets:
Capital stock		2,141,513			2,141,513
Capital surplus		349,661			83,412
Retained earnings		12,739,228			13,598,478
Treasury stock		(481,091	)		(395,045	)

Total shareholders’ equity		14,749,310			15,428,358

Net unrealized gains (losses) on available-for-sale securities		800,955			1,196,873
Net deferred gains (losses) on hedging instruments		(387,079	)		(590,192	)
Land revaluation excess		135,526			134,231
Foreign currency translation adjustments		1,792,840			2,644,397
Remeasurements of defined benefit plans		140,485			116,671
Debt value adjustments of foreign subsidiaries and affiliates		(747	)		(42,248	)

Total accumulated other comprehensive income		2,481,980			3,459,732

Non-controlling interests		1,041,565			1,106,838

Total net assets		18,272,857			19,994,928

Total liabilities and net assets		386,799,477			397,056,956

Mitsubishi UFJ Financial Group, Inc.

(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income

Consolidated Statements of Income


(in millions of yen)	For the nine months ended December 31, 2022		For the nine months ended December 31, 2023
Ordinary income		6,793,767		8,507,676
Interest income		3,777,403		5,344,025
Interest on loans and bills discounted		1,962,953		2,867,982
Interest and dividends on securities		1,152,253		978,341
Trust fees		107,390		102,167
Fees and commissions		1,384,135		1,453,913
Trading income		411,522		321,122
Other operating income		376,637		520,845
Other ordinary income		736,678		765,601
Ordinary expenses		5,944,835		6,705,809
Interest expenses		1,445,092		3,544,271
Interest on deposits		531,575		1,365,975
Fees and commissions		243,550		270,981
Trading expenses		19,077		—
Other operating expenses		1,310,837		307,919
General and administrative expenses		2,206,193		2,123,572
Other ordinary expenses		720,083		459,065

Ordinary profits		848,932		1,801,867

Extraordinary gains		10,097		17,172
Gains on disposition of fixed assets		10,097		17,055
Gains on change in equity		—		117
Extraordinary losses		74,664		58,326
Losses on disposition of fixed assets		9,837		9,727
Losses on impairment of fixed assets		11,709		26,037
Provision for reserve for contingent liabilities from financial instruments transactions		3		503
Losses on change in equity		23,711		22,058
Losses on sales of shares of affiliates		29,401		—

Profits before income taxes		784,365		1,760,712

Income taxes-current		324,093		351,264
Income taxes-deferred		57,430		55,946

Total taxes		381,524		407,210

Profits		402,841		1,353,501

Profits attributable to non-controlling interests		59,665		55,585

Profits attributable to owners of parent		343,175		1,297,916

Mitsubishi UFJ Financial Group, Inc.

Consolidated Statements of Comprehensive Income


(in millions of yen)	For the nine months ended December 31, 2022			For the nine months ended December 31, 2023
Profits		402,841			1,353,501
Other comprehensive income
Net unrealized gains (losses) on available-for-sale securities		(1,101,118	)		366,709
Net deferred gains (losses) on hedging instruments		(489,208	)		(203,233	)
Foreign currency translation adjustments		1,101,845			649,146
Remeasurements of defined benefit plans		(28,379	)		(21,193	)
Share of other comprehensive income of associates accounted for using equity method		572,874			223,630

Total other comprehensive income		56,014			1,015,058

Comprehensive income		458,855			2,368,560

(Comprehensive income attributable to)
Comprehensive income attributable to owners of parent		359,186			2,276,962
Comprehensive income attributable to non-controlling interests		99,669			91,597

Mitsubishi UFJ Financial Group, Inc.

(3) Notes on Going-Concern Assumption

None.

(4) Notes for Material Changes in Shareholders’ Equity

None.

(5) Changes in Presentation of Financial Information

“Refund of income taxes”, which was previously presented separately from “Income taxes” on a disaggregated basis for the nine months ended December 31, 2022, is included in “Income taxes” on a net basis from the nine months ended December 31, 2023 due to the decreased significance in the recorded amount. In order to reflect this change in presentation, the consolidated financial statements for the nine months ended December 31, 2022 have been reclassified.

As a result, “Income taxes” of ¥373,662 million and “Refund of income taxes” of ¥(49,569) million previously presented in the consolidated statement of income for the nine months ended December 31, 2022 have been aggregated on a net basis and reclassified into “Income taxes” of ¥324,093 million.

Mitsubishi UFJ Financial Group, Inc.

(6) Additional Information

(Information relevant to an understanding by readers of the consolidated financial statements regarding the calculation of allowance for credit losses)

The process of calculating allowance for credit losses in our principal consolidated domestic banking subsidiaries involves various estimates such as determination of counterparty credit ratings which are based on evaluation and classification of counterparties’ debt-service capacity, assessment of the value of collateral provided by borrowers, and adjustments for future loss projections and other factors to the loss rates calculated based on historical credit loss experience.

Among these, internal credit ratings are assigned to counterparties based on qualitative factors such as the current and expected future business environment of the industry to which they belong as well as their management and funding risks in addition to quantitative financial evaluations through an analysis of their financial results. In particular, determination of internal credit ratings for some counterparties may be highly dependent on our assessment of the prospects of improvements in their operating results and their ability to continue as going concerns.

When calculating allowance for credit losses, MUFG Bank, Ltd., our principal consolidated domestic banking subsidiary, determines expected loss rates primarily by calculating a rate of loss based on a historical average of the credit loss rate or a historical average of the default probability derived from actual credit loss experience or actual bankruptcy experience and making necessary adjustments based on future projections and other factors. The subsidiary makes such adjustments based on future loss projections and other factors to loss rates calculated based on historical loss experience, when and to the extent such adjustments are deemed appropriate, by taking into account additional expected losses that are not reflected in such loss rates calculated based on historical loss experience and other factors, especially in light of the Russia-Ukraine situation. The amount of impact of these adjustments was ¥42,491 million as of December 31, 2023 (¥69,569 million as of March 31, 2023).

Given that actual loss information after the expansion of COVID-19 has been accumulated and the impact of COVID-19 is reflected in the loss rates calculated based on historical loss experience, starting in the semi-annual reporting period ended September 30, 2023, no adjustment is made based on future projections that take into account the rate of increase in the credit loss rate or the default probability in a recent period.

In addition, certain overseas subsidiaries which apply Generally Accepted Accounting Principles in the United States (“U.S. GAAP”) have adopted Accounting Standards Codification Topic 326, “Financial Instruments—Credit losses,” provide for allowance for credit losses by estimating credit losses currently expected for the remaining term of the relevant contracts. Expected credit losses are calculated using a quantitative model that reflects economic forecast scenarios based on macroeconomic variables. The calculation process includes determination of macroeconomic variables used in multiple economic forecast scenarios and the weightings applied to each economic forecast scenario. Expected credit losses are adjusted for qualitative factors to compensate for expected credit losses that are not reflected in a quantitative model.

Mitsubishi UFJ Financial Group, Inc.

Significant assumptions used in our calculation of allowance for credit losses, including those described above, are subject to uncertainty. In particular, some counterparties’ prospects of improvements in their operating results and expectations as to their ability to continue as going concerns, and adjustments to the rate of loss calculated based on actual experience for future projections and other factors, as well as determination of the macroeconomic variables used in, and the weightings applied to, multiple economic forecast scenarios, and adjustments thereto for qualitative factors, by certain subsidiaries which apply U.S. GAAP, are based on estimation relating to factors with respect to which objective data are not readily available such as changes in the economic environment, commodity prices, monetary policy and geopolitical situation in each country.

In particular, the outlook relating to the Russia-Ukraine situation remains subject to significant uncertainty. Accordingly, we make certain assumptions, including that the current Russia-Ukraine situation will remain for some time. The recorded allowance for credit losses represents our best estimation made in a manner designed to ensure objectivity and rationality.

For the nine-month period ended December 31, 2023, the assumptions for making estimates relating to allowance for credit losses remained substantially unchanged because the observable changes subsequent to the end of the previous fiscal year in the factors and circumstances underlying the outlook relating to the Russia-Ukraine situation were not sufficiently significant to cause such change in the assumptions. However, these assumptions are highly uncertain, and significant additional provision for credit losses may be recognized for the fiscal year ending March 31, 2024, and subsequent reporting periods due to these and other factors and circumstances affecting the financial performance of counterparties or the economic environment.

(Provisional closing of accounts of a significant equity-method affiliate)

Morgan Stanley, a significant equity-method affiliate of MUFG, closes its financial accounts based on a fiscal year-end of December 31 and, previously, the equity method of accounting was applied to Morgan Stanley’s consolidated financial statements as of the end of Morgan Stanley’s quarterly reporting period. However, from the perspective of providing financial information in a more timely manner, MUFG has decided to make modifications so that, effective from the nine months ended December 31, 2023, the equity method of accounting will be applied to Morgan Stanley based on a provisional closing of accounts to be implemented as of December 31, which is the end of MUFG’s quarterly reporting period.

Accordingly, for the nine months ended December 31, 2023, the equity method of accounting have been applied to Morgan Stanley’s consolidated financial statements for the twelve-month period from January 1, 2023 to December 31, 2023 based on a provisional closing of accounts, and the impact of implementation of such provisional closing of accounts has been reflected in MUFG’s consolidated financial statements for the nine months ended December 31, 2023.

For the period from January 1, 2023 to March 31, 2023, equity in earnings of the equity method investees related to Morgan Stanley is 99,295 million, losses on change in equity related to Morgan Stanley is 22,058 million, and share of other comprehensive income of associates accounted for using equity method related to Morgan Stanley included in other comprehensive income is 204,599 million.

Selected Financial Information

under Japanese GAAP

For the Nine Months Ended December 31, 2023


Mitsubishi UFJ Financial Group, Inc.

Mitsubishi UFJ Financial Group, Inc.

[Contents]


1. Financial Results	[ MUFG Consolidated ]1[ BK and TB Combined ]234 [ BK Non-consolidated ][ TB Non-consolidated ]	1

2. Loans to Be Disclosed under the Banking Act and the Financial Reconstruction Act (the “FRA”)	[ MUFG Consolidated ] [ BK and TB Combined including Trust Account ] [ BK Non-consolidated ][ TB Non-consolidated ] [ TB Non-consolidated : Trust Account ]	5

3. Securities	[ MUFG Consolidated ] [ BK Non-consolidated ][ TB Non-consolidated ]	6

4. ROE	[ MUFG Consolidated ]	9

5. Average Interest Rate Spread	[ BK and TB Combined ] [ BK Non-consolidated ][ TB Non-consolidated ]	10

6. Loans and Deposits	[ BK and TB Combined ] [ BK Non-consolidated ][ TB Non-consolidated ]	11

7. Statements of Trust Assets and Liabilities	[ TB Non-consolidated ]	12

(*1)	“MUFG” means Mitsubishi UFJ Financial Group, Inc.

(*2)	“BK” means MUFG Bank, Ltd.

(*3)	“TB” means Mitsubishi UFJ Trust and Banking Corporation.

(*4)	“BK and TB Combined” means simple sum of “BK” and “TB” without consolidation processes.

Mitsubishi UFJ Financial Group, Inc.

1. Financial Results

MUFG Consolidated


	(in millions of yen)
	For the nine months ended						Increase (Decrease) (A) - (B)
	December 31, 2023 (A)			December 31, 2022 (B)			Increase (Decrease) (A) - (B)
Gross profits		3,619,126			3,579,828			39,298
Gross profits before credit costs for trust accounts		3,619,126			3,579,828			39,297
Net interest income		1,799,977			2,313,738			(513,760	)
Trust fees		102,167			107,390			(5,222	)
Credit costs for trust accounts (1)		0			—			0
Net fees and commissions		1,182,932			1,140,584			42,348
Net trading profits		321,122			392,691			(71,569	)
Net other operating profits		212,926			(374,575	)		587,502
Net gains (losses) on debt securities		(197,028	)		(572,392	)		375,364
General and administrative expenses		2,098,861			2,198,305			(99,443	)
Amortization of goodwill		15,688			15,637			50
Net operating profits before credit costs for trust accounts, provision for general allowance for credit losses and amortization of goodwill		1,535,953			1,397,161			138,792
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		1,520,264			1,381,523			138,741
Provision for general allowance for credit losses (2)		(96,322	)		78,461			(174,783	)
Net operating profits*1		1,423,942			1,459,984			(36,041	)
Net non-recurring gains (losses)		377,924			(611,052	)		988,976
Credit costs (3)		(242,720	)		(660,826	)		418,105
Losses on loan write-offs*2		(119,478	)		(546,999	)		427,520
Provision for specific allowance for credit losses		(116,192	)		(118,502	)		2,310
Other credit costs		(7,049	)		4,675			(11,725	)
Reversal of allowance for credit losses (4)		—			—			—
Reversal of reserve for contingent losses included in credit costs (5)		—			23,208			(23,208	)
Gains on loans written-off (6)		75,426			74,641			784
Net gains (losses) on equity securities		227,456			203,113			24,343
Gains on sales of equity securities		245,665			237,258			8,406
Losses on sales of equity securities		(12,558	)		(21,183	)		8,624
Losses on write-down of equity securities		(5,650	)		(12,962	)		7,311
Equity in earnings of equity method investees		361,891			357,673			4,217
Other non-recurring gains (losses)*2		(44,128	)		(608,862	)		564,733

Ordinary profits		1,801,867			848,932			952,934

Net extraordinary gains (losses)		(41,154	)		(64,566	)		23,412
Net gains (losses) on disposition of fixed assets		7,327			259			7,067
Losses on impairment of fixed assets		(26,037	)		(11,709	)		(14,328	)
Net gains (losses) on change in equity		(21,941	)		(23,711	)		1,770
Losses on sales of shares of affiliates		—			(29,401	)		29,401
Profits before income taxes		1,760,712			784,365			976,346
Income taxes-current		351,264			324,093			27,171
Income taxes-deferred		55,946			57,430			(1,484	)
Total taxes		407,210			381,524			25,686
Profits		1,353,501			402,841			950,660
Profits attributable to non-controlling interests		55,585			59,665			(4,080	)

Profits attributable to owners of parent		1,297,916			343,175			954,740


Note:
*1. Net operating profits = Banking subsidiaries’ net operating profits + Other consolidated entities’ gross profits - Other consolidated entities’ general and administrative expenses - Other consolidated entities’ provision for general allowance for credit losses - Amortization of goodwill - Inter-company transactions
*2. In connection with the planned sale of the shares in MUFG Union Bank, N.A., an aggregate of ¥1,044,886 million of losses were recognized for the nine months ended December 31, 2022, primarily in accordance with Accounting Standards Codification (“ASC”) Topic 326, “Financial Instruments—Credit losses,” and ASC Topic 310, “Receivables.” These losses consist mainly of ¥594,782 million of valuation losses related to securities held for sale, which are included in Other non-recurring gains (losses), and ¥449,547 million of valuation losses related to loans held for sale, which are included in Losses on loan write-offs.

(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		(263,616	)		(484,515	)		220,899

Mitsubishi UFJ Financial Group, Inc.

BK and TB Combined


	(in millions of yen)
	For the nine months ended						Increase (Decrease) (A) - (B)
	December 31, 2023 (A)			December 31, 2022 (B)			Increase (Decrease) (A) - (B)
Gross profits		2,059,732			1,756,589			303,143
Gross profits before credit costs for trust accounts		2,059,731			1,756,589			303,142
Net interest income		1,209,140			1,482,251			(273,110	)
Trust fees		88,419			83,944			4,474
Credit costs for trust accounts (1)		0			—			0
Net fees and commissions		532,346			426,543			105,802
Net trading profits		51,796			(16,618	)		68,415
Net other operating profits		178,028			(219,532	)		397,560
Net gains (losses) on debt securities		(196,066	)		(571,159	)		375,092
General and administrative expenses		1,104,063			984,733			119,329
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		955,668			771,855			183,812
Provision for general allowance for credit losses (2)		(80,608	)		—			(80,608	)
Net operating profits		875,060			771,855			103,204
Net non-recurring gains (losses)		203,048			386,573			(183,525	)
Credit costs (3)		(25,868	)		(10,627	)		(15,240	)
Reversal of allowance for credit losses (4)		—			72,026			(72,026	)
Reversal of reserve for contingent losses included in credit costs (5)		—			22,312			(22,312	)
Gains on loans written-off (6)		18,428			14,679			3,748
Net gains (losses) on equity securities		220,445			202,037			18,408
Gains on sales of equity securities		239,401			230,158			9,243
Losses on sales of equity securities		(14,410	)		(21,051	)		6,640
Losses on write-down of equity securities		(4,545	)		(7,069	)		2,524
Other non-recurring gains (losses)		(9,957	)		86,144			(96,102	)

Ordinary profits		1,078,108			1,158,429			(80,321	)

Net extraordinary gains (losses)		(3,917	)		(1,643	)		(2,273	)
Income before income taxes		1,074,190			1,156,785			(82,595	)
Income taxes-current		257,089			218,212			38,876
Income taxes-deferred		(25,429	)		82,732			(108,161	)
Total taxes		231,660			300,945			(69,284	)

Net income		842,530			855,840			(13,310	)


(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		(88,048	)		98,391			(186,439	)
Credit costs for trust accounts		0			—			0
Provision for general allowance for credit losses		(80,608	)		85,812			(166,421	)
Provision for special allowance for credit losses		(3,371	)		(19,557	)		16,185
Allowance for credit to specific foreign borrowers		10,619			5,771			4,847
Losses on loans write-offs		(14,400	)		(7,028	)		(7,372	)
Provision for contingent losses included in credit costs		(11,790	)		22,260			(34,051	)
Gains on loans written-off		18,428			14,679			3,748
Losses on sales of other loans, etc.		(6,924	)		(3,547	)		(3,377	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities		1,151,735			1,343,015			(191,280	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities and investment trusts cancellation		1,048,134			802,518			245,615

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated


	(in millions of yen)
	For the nine months ended						Increase (Decrease) (A) - (B)
	December 31, 2023 (A)			December 31, 2022 (B)			Increase (Decrease) (A) - (B)
Gross profits		1,840,167			1,474,911			365,255
Net interest income		1,113,447			1,119,468			(6,021	)
Net fees and commissions		463,398			355,299			108,099
Net trading profits		78,315			54,642			23,673
Net other operating profits		185,005			(54,498	)		239,504
Net gains (losses) on debt securities		(159,368	)		(328,855	)		169,487
General and administrative expenses		946,431			838,585			107,846
Amortization of goodwill		2,755			1,526			1,228
Net operating profits before provision for general allowance for credit losses and amortization of goodwill		896,491			637,853			258,638
Net operating profits before provision for general allowance for credit losses		893,735			636,326			257,409
Provision for general allowance for credit losses (1)		(80,392	)		—			(80,392	)
Net operating profits		813,342			636,326			177,016
Net non-recurring gains (losses)		173,513			350,466			(176,952	)
Credit costs (2)		(25,804	)		(10,575	)		(15,228	)
Reversal of allowance for credit losses (3)		—			71,913			(71,913	)
Reversal of reserve for contingent losses included in credit costs (4)		—			22,312			(22,312	)
Gains on loans written-off (5)		18,428			14,679			3,748
Net gains (losses) on equity securities		176,145			165,465			10,679
Gains on sales of equity securities		191,076			190,217			859
Losses on sales of equity securities		(12,394	)		(19,285	)		6,890
Losses on write-down of equity securities		(2,536	)		(5,466	)		2,930
Other non-recurring gains (losses)		4,744			86,670			(81,925	)

Ordinary profits		986,856			986,792			64

Net extraordinary gains (losses)		(604	)		674			(1,279	)
Income before income taxes		986,251			987,466			(1,215	)
Income taxes-current		234,790			183,685			51,104
Income taxes-deferred		(25,177	)		74,840			(100,017	)
Total taxes		209,612			258,525			(48,912	)

Net income		776,638			728,941			47,697


(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)		(87,769	)		98,329			(186,099	)
Provision for general allowance for credit losses		(80,392	)		85,699			(166,092	)
Provision for special allowance for credit losses		(3,371	)		(19,557	)		16,185
Allowance for credit to specific foreign borrowers		10,619			5,771			4,847
Losses on loans write-off		(14,399	)		(7,028	)		(7,371	)
Provision for contingent losses included in credit costs		(11,727	)		22,312			(34,039	)
Gains on loans written-off		18,428			14,679			3,748
Losses on sales of other loans, etc.		(6,924	)		(3,547	)		(3,377	)
Net operating profits before provision for general allowance for credit losses, excluding net gains (losses) on debt securities		1,053,103			965,182			87,921
Net operating profits before provision for general allowance for credit losses, excluding net gains (losses) on debt securities and investment trusts cancellation		1,023,868			680,793			343,074

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated


	(in millions of yen)
	For the nine months ended						Increase (Decrease) (A) - (B)
	December 31, 2023 (A)			December 31, 2022 (B)			Increase (Decrease) (A) - (B)
Gross profits		219,564			281,677			(62,112	)
Gross profits before credit costs for trust accounts		219,564			281,677			(62,112	)
Trust fees		88,419			83,944			4,474
Credit costs for trust accounts (1)		0			—			0
Net interest income		95,693			362,782			(267,089	)
Net fees and commissions		68,947			71,244			(2,296	)
Net trading profits		(26,518	)		(71,261	)		44,742
Net other operating profits		(6,977	)		(165,033	)		158,055
Net gains (losses) on debt securities		(36,698	)		(242,303	)		205,605
General and administrative expenses		157,631			146,147			11,483
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		61,933			135,529			(73,596	)
Provision for general allowance for credit losses (2)		(216	)		—			(216	)
Net operating profits		61,717			135,529			(73,812	)
Net non-recurring gains (losses)		29,534			36,107			(6,572	)
Credit costs (3)		(63	)		(51	)		(11	)
Reversal of allowance for credit losses (4)		—			112			(112	)
Reversal of reserve for contingent losses included in credit costs (5)		—			—			—
Gains on loans written-off (6)		0			0			0
Net gains (losses) on equity securities		44,300			36,571			7,728
Gains on sales of equity securities		48,324			39,940			8,383
Losses on sales of equity securities		(2,015	)		(1,765	)		(249	)
Losses on write-down of equity securities		(2,008	)		(1,603	)		(405	)
Other non-recurring gains (losses)		(14,702	)		(525	)		(14,176	)

Ordinary profits		91,251			171,637			(80,385	)

Net extraordinary gains (losses)		(3,312	)		(2,317	)		(994	)
Income before income taxes		87,939			169,319			(81,380	)
Income taxes-current		22,299			34,527			(12,227	)
Income taxes-deferred		(251	)		7,891			(8,143	)
Total taxes		22,047			42,419			(20,371	)

Net income		65,891			126,899			(61,008	)


(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		(279	)		61			(340	)
Credit costs for trust accounts		0			—			0
Provision for general allowance for credit losses		(216	)		113			(329	)
Provision for special allowance for credit losses		0			(0	)		0
Allowance for credit to specific foreign borrowers		—			—			—
Losses on loans write-offs		(1	)		(0	)		(0	)
Provision for contingent losses included in credit costs		(62	)		(51	)		(11	)
Gains on loans written-off		0			0			0
Losses on sales of other loans, etc.		—			—			—
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities		98,631			377,833			(279,202	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities and investment trusts cancellation		24,265			121,724			(97,459	)

Mitsubishi UFJ Financial Group, Inc.

2. Loans to Be Disclosed under the Banking Act and the Financial Reconstruction Act (the “FRA”)

MUFG Consolidated

(after write-offs)


	(in millions of yen)
	As of December 31, 2023			As of March 31, 2023
Bankrupt or De facto Bankrupt		242,046			198,312
Doubtful		735,281			746,207
Special Attention		619,714			618,892
Accruing loans contractually past due 3 months or more		26,537			23,679
Restructured loans		593,177			595,212
Subtotal (A)		1,597,042			1,563,411

Normal(B)		127,623,494			121,766,210
Total loans (C=A+B)		129,220,536			123,329,622

Non-performing loans ratio (A)/(C)		1.23	%		1.26	%

BK and TB Combined including Trust Account

(after write-offs)


	(in millions of yen)
	As of December 31, 2023			As of March 31, 2023
Bankrupt or De facto Bankrupt		83,295			74,448
Doubtful		503,507			546,567
Special Attention		465,457			464,199
Accruing loans contractually past due 3 months or more		18,871			17,167
Restructured loans		446,585			447,032
Subtotal (A)		1,052,259			1,085,215

Normal(B)		114,162,631			109,665,679
Total loans (C=A+B)		115,214,891			110,750,895

Non-performing loans ratio (A)/(C)		0.91	%		0.97	%

BK Non-consolidated

(after write-offs)


	(in millions of yen)
	As of December 31, 2023			As of March 31, 2023
Bankrupt or De facto Bankrupt		83,156			74,313
Doubtful		501,438			544,648
Special Attention		465,457			464,199
Accruing loans contractually past due 3 months or more		18,871			17,167
Restructured loans		446,585			447,032
Subtotal (A)		1,050,053			1,083,162

Normal(B)		111,505,739			107,103,161
Total loans (C=A+B)		112,555,792			108,186,323

Non-performing loans ratio (A)/(C)		0.93	%		1.00	%

TB Non-consolidated

(after write-offs)


	(in millions of yen)
	As of December 31, 2023			As of March 31, 2023
Bankrupt or De facto Bankrupt		138			134
Doubtful		2,068			1,919
Special Attention		—			—
Accruing loans contractually past due 3 months or more		—			—
Restructured loans		—			—
Subtotal (A)		2,206			2,053

Normal(B)		2,653,611			2,558,578
Total loans (C=A+B)		2,655,818			2,560,632

Non-performing loans ratio (A)/(C)		0.08	%		0.08	%

TB Non-consolidated: Trust Account

(after write-offs)


	(in millions of yen)
	As of December 31, 2023		As of March 31, 2023
Bankrupt or De facto Bankrupt		—		—
Doubtful		—		—
Special Attention		—		—
Accruing loans contractually past due 3 months or more		—		—
Restructured loans		—		—
Subtotal (A)		—		—

Normal(B)		3,280		3,939
Total loans (C=A+B)		3,280		3,939

Non-performing loans ratio (A)/(C)		—		—

Mitsubishi UFJ Financial Group, Inc.

3. Securities

MUFG Consolidated

The tables include negotiable certificates of deposit in “Cash and due from banks”, securitized products in “Monetary claims bought” and others in addition to “Securities”.


	(in millions of yen)
	As of December 31, 2023					As of March 31, 2023
	Amount on consolidated balance sheet		Unrealized gains (losses)			Amount on consolidated balance sheet		Unrealized gains (losses)
Debt securities being held to maturity		24,929,902		(169,422	)		21,520,080		(133,925	)

	(in millions of yen)
	As of December 31, 2023					As of March 31, 2023
	Amount on consolidated balance sheet		Unrealized gains (losses)			Amount on consolidated balance sheet		Unrealized gains (losses)
Available-for-sale securities		59,120,762		2,064,965			65,121,075		1,420,165
Domestic equity securities		4,672,177		3,220,952			4,271,923		2,720,728
Domestic bonds		24,728,133		(127,295	)		29,751,905		(120,020	)
Other		29,720,451		(1,028,692	)		31,097,247		(1,180,541	)
Foreign equity securities		665,513		2,234			408,377		(65,604	)
Foreign bonds		19,691,732		(947,382	)		21,710,161		(1,116,208	)
Other		9,363,205		(83,544	)		8,978,707		1,271

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

The tables include negotiable certificates of deposit in “Cash and due from banks”, securitized products in “Monetary claims bought” and others in addition to “Securities”.


	(in millions of yen)
	As of December 31, 2023					As of March 31, 2023
	Amount on balance sheet		Unrealized gains (losses)			Amount on balance sheet		Unrealized gains (losses)
Debt securities being held to maturity		22,387,204		(143,512	)		19,047,385		(78,497	)
Stocks of subsidiaries and affiliates		610,147		491,575			610,147		482,330

	(in millions of yen)
	As of December 31, 2023					As of March 31, 2023
	Amount on balance sheet		Unrealized gains (losses)			Amount on balance sheet		Unrealized gains (losses)
Available-for-sale securities		43,769,551		1,900,263			50,631,570		1,276,158
Domestic equity securities		3,936,926		2,667,596			3,566,081		2,212,225
Domestic bonds		22,996,318		(74,396	)		28,013,980		(79,159	)
Other		16,836,306		(692,936	)		19,051,508		(856,907	)
Foreign equity securities		621,407		(7,985	)		367,745		(73,953	)
Foreign bonds		9,837,200		(556,514	)		12,565,104		(672,998	)
Other		6,377,698		(128,435	)		6,118,658		(109,954	)

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

The tables include securitized products in “Monetary claims bought” in addition to “Securities”.


	(in millions of yen)
	As of December 31, 2023					As of March 31, 2023
	Amount on balance sheet		Unrealized gains (losses)			Amount on balance sheet		Unrealized gains (losses)
Debt securities being held to maturity		2,542,697		(25,909	)		2,472,695		(55,428	)
Stocks of subsidiaries and affiliates		15,136		(944	)		11,636		(758	)

	(in millions of yen)
	As of December 31, 2023					As of March 31, 2023
	Amount on balance sheet		Unrealized gains (losses)			Amount on balance sheet		Unrealized gains (losses)
Available-for-sale securities		11,491,687		262,473			10,871,284		208,580
Domestic equity securities		796,251		540,588			745,387		467,925
Domestic bonds		1,711,635		(53,022	)		1,705,587		(40,984	)
Other		8,983,801		(225,092	)		8,420,308		(218,360	)
Foreign equity securities		93		74			81		63
Foreign bonds		6,896,142		(268,231	)		6,367,896		(334,590	)
Other		2,087,564		43,065			2,052,330		116,165

Mitsubishi UFJ Financial Group, Inc.

4. ROE

MUFG Consolidated


	(%)
	For the nine months ended December 31, 2023		For the nine months ended December 31, 2022
ROE (MUFG basis) *1		9.99		2.88
ROE (JPX basis) *2		9.58		2.72

Note:

ROE (MUFG basis) is computed as follows:

Profits attributable to owners of parent × 4 / 3

100

{(Total shareholders’ equity at the beginning of the period + Foreign currency translation adjustments at the beginning of the period) + (Total shareholders’ equity at the end of the period + Foreign currency

translation adjustments at the end of the period)} / 2

Japan Exchange Group

Mitsubishi UFJ Financial Group, Inc.

5. Average Interest Rate Spread

BK and TB Combined


	(percentage per annum)
(Domestic business segment)	For the nine months ended December 31, 2023		For the nine months ended December 31, 2022
Average interest rate on loans and bills discounted		0.78		0.73
Average interest rate on deposits and NCD		0.00		0.00
Interest rate spread		0.77		0.73

(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted		0.80		0.76
Interest rate spread		0.80		0.76

BK Non-consolidated
	(percentage per annum)
(Domestic business segment)	For the nine months ended December 31, 2023		For the nine months ended December 31, 2022
Average interest rate on loans and bills discounted		0.78		0.74
Average interest rate on deposits and NCD		0.00		0.00
Interest rate spread		0.78		0.74

(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted		0.80		0.76
Interest rate spread		0.80		0.76

TB Non-consolidated
	(percentage per annum)
(Domestic business segment)	For the nine months ended December 31, 2023		For the nine months ended December 31, 2022
Average interest rate on loans and bills discounted		0.55		0.37
Average interest rate on deposits and NCD		0.02		0.01
Interest rate spread		0.53		0.35

(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted		0.70		0.74
Interest rate spread		0.68		0.73

Mitsubishi UFJ Financial Group, Inc.

6. Loans and Deposits

BK and TB Combined


	(in millions of yen)
	As of December 31, 2023		As of March 31, 2023
Deposits (ending balance)		204,837,530		203,348,641
Deposits (average balance)		208,424,026		200,346,332
Loans (ending balance)		103,581,454		99,399,851
Loans (average balance)		103,893,282		99,744,310

	(in millions of yen)
	As of December 31, 2023		As of March 31, 2023
Domestic deposits (ending balance)*		172,576,833		173,000,185
Individuals		93,249,553		90,854,622

Note:

* Amounts do not include negotiable certificates of deposit and JOM accounts.

BK Non-consolidated

	(in millions of yen)
	As of December 31, 2023		As of March 31, 2023
Deposits (ending balance)		192,529,501		192,272,289
Deposits (average balance)		196,482,235		189,034,788
Loans (ending balance)		101,234,988		97,127,749
Loans (average balance)		101,616,591		97,137,135

	(in millions of yen)
	As of December 31, 2023		As of March 31, 2023
Domestic deposits (ending balance)*		162,149,085		163,527,394
Individuals		87,261,661		84,718,547

Note:
* Amounts do not include negotiable certificates of deposit and JOM accounts.

TB Non-consolidated
	(in millions of yen)
	As of December 31, 2023		As of March 31, 2023
Deposits (ending balance)		12,308,029		11,076,351
Deposits (average balance)		11,941,791		11,311,544
Loans (ending balance)		2,346,466		2,272,102
Loans (average balance)		2,276,691		2,607,174

	(in millions of yen)
	As of December 31, 2023		As of March 31, 2023
Domestic deposits (ending balance)*		10,427,748		9,472,790
Individuals		5,987,892		6,136,075

Note:
* Amounts do not include negotiable certificates of deposit and JOM accounts.

Mitsubishi UFJ Financial Group, Inc.

7. Statements of Trust Assets and Liabilities

TB Non-consolidated

Including trust assets under service-shared co-trusteeship


(in millions of yen)	As of March 31, 2023		As of December 31, 2023
Assets:
Loans and bills discounted		1,277,875		1,118,916
Securities		70,547,100		74,326,693
Beneficiary rights to the trust		118,934,755		133,775,059
Securities held in custody accounts		2,933,178		3,725,993
Monetary claims		32,819,251		33,654,056
Tangible fixed assets		20,879,125		22,147,745
Intangible fixed assets		165,299		177,438
Other claims		3,189,442		3,229,992
Call loans		3,673,857		2,944,161
Due from banking account		10,620,708		8,887,765
Cash and due from banks		6,927,037		6,927,371

Total		271,967,632		290,915,192

Liabilities:
Money trusts		33,565,350		31,915,680
Pension trusts		12,233,123		12,192,967
Property formation benefit trusts		6,273		5,820
Investment trusts		122,338,610		137,094,266
Money entrusted other than money trusts		6,153,057		7,464,380
Securities trusts		5,361,672		6,198,706
Monetary claim trusts		28,813,961		29,451,982
Equipment trusts		166,695		208,589
Land and fixtures trusts		18,626		18,427
Composite trusts		63,310,260		66,364,372

Total		271,967,632		290,915,192


Note:	1.	The table shown above includes master trust assets under the service-shared co-trusteeship between TB and The Master Trust Bank of Japan, Ltd.
	2.	Trust assets and liabilities under a declaration of trust excluded from above table are 280,332 millions of yen as of March 31, 2023 and 296,784 millions of yen as of December 31, 2023, respectively.