三菱UFJフィナンシャルGADRの適時開示

6-K 1 d834230d6k.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 May 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FROM THE DATE ON WHICH THIS REPORT IS FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED WITH OR FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION.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: May 15, 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 fiscal year ended March 31, 2024

May 15, 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 050-3613-1179
General meeting of shareholders:		June 27, 2024
Dividend payment date:		June 28, 2024
Securities report issuing date:		June 25, 2024
Trading accounts:		Established
Supplemental information for financial statements:		Available
Investor meeting presentation:		Scheduled (for investors and analysts)

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

1. Consolidated Financial Data for the Fiscal Year ended March 31, 2024

(1)	Results of Operations


	(% represents the change from the previous fiscal year)
	Ordinary Income				Ordinary Profits					Profits Attributable to Owners of Parent
	million yen		%		million yen		%			million yen		%
Fiscal year ended
March 31, 2024		11,890,350		28.1		2,127,958		108.5			1,490,781		33.5
March 31, 2023		9,281,027		52.8		1,020,728		(33.6	)		1,116,496		(1.3	)

(*)	Comprehensive income

March 31, 2024: 3,316,519 million yen 186.2%; March 31, 2023: 1,158,800 million yen 45.3%


	Basic earnings per share		Diluted earnings per share		Net Income to Net Assets Attributable to MUFG shareholders		Ordinary Profits to Total Assets		Ordinary Profits to Ordinary Income
	yen		yen		%		%		%
Fiscal year ended
March 31, 2024		124.65		124.33		8.1		0.5		17.9
March 31, 2023		90.73		90.41		6.5		0.3		11.0

(Reference) Income from investment in affiliates (Equity method)

March 31, 2024: 531,803 million yen; March 31, 2023: 425,829 million yen

(2)	Financial Conditions


	Total Assets		Total Net Assets		Equity-to-asset ratio (*)		Total Net Assets per Common Stock
	million yen		million yen		%		yen
As of
March 31, 2024		403,703,147		20,746,978		4.9		1,670.45
March 31, 2023		386,799,477		18,272,857		4.5		1,433.12

(Reference) Shareholders’ equity as of March 31, 2024: 19,587,974 million yen; March 31, 2023: 17,231,291 million yen

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

(Total net assets - Subscription right to share - Non-controlling interests) / Total assets

(3)	Cash Flows


	Cash Flows from Operating Activities			Cash Flows from Investing Activities			Cash Flows from Financing Activities			Cash and Cash Equivalents at the end of the period
	million yen			million yen			million yen			million yen
Fiscal year ended
March 31, 2024		(9,844,860	)		3,986,415			8,307			109,870,502
March 31, 2023		13,431,773			(10,675,096	)		(977,138	)		113,630,172

2. Dividends on Common Stock


	Dividends per Share										Total dividends		Dividend payout ratio (Consolidated)		Dividend on net assets ratio (Consolidated)
	1st quarter-end		2nd quarter-end		3rd quarter-end		Fiscal year-end		Total		Total dividends		Dividend payout ratio (Consolidated)		Dividend on net assets ratio (Consolidated)
	yen		yen		yen		yen		yen		million yen		%		%
Fiscal year
ended March 31, 2023		—		16.00		—		16.00		32.00		389,991		35.3		2.3
ended March 31, 2024		—		20.50		—		20.50		41.00		488,038		32.9		2.6
ending March 31, 2024 (Forecast)		—		25.00		—		25.00		50.00				39.1

(*)	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, 2025 (Consolidated)

MUFG has set an earnings target of 1,500.0 billion yen of profits attributable to owners of parent for the fiscal year ending March 31, 2025. 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 (Changes in specified subsidiaries accompanying change in scope of consolidation): No

(2)	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

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


(A) Total stocks outstanding including treasury stocks:	March 31, 2024	12,337,710,920 shares
	March 31, 2023	12,687,710,920 shares
(B) Treasury stocks:	March 31, 2024	611,522,914 shares
	March 31, 2023	664,065,483 shares
(C) Average outstanding stocks:	Fiscal year ended March 31, 2024	11,959,977,563 shares
	Fiscal year ended March 31, 2023	12,305,714,018 shares

* This “Consolidated Summary Report” (“Tanshin”) is outside the scope of the external auditor’s audit procedure.

* 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. We will publish U.S. GAAP financial results in a separate disclosure document when such information becomes available.

Mitsubishi UFJ Financial Group, Inc.

(Appendix)

Contents of Appendix


1. Results of Operations and Financial Condition			2
(1) Analysis of results of operations			2
(2) Analysis of financial condition			3
2. Basic Views on Selection of Accounting Standards			3
3. Consolidated Financial Statements and Notes			4
(1) Consolidated Balance Sheets			4
(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income			6
(3) Consolidated Statements of Changes in Net Assets			9
(4) Consolidated Statements of Cash Flows			11
Notes to the Consolidated Financial Statements			13
Notes on Going-Concern Assumption
Changes in Presentation of Financial Information
Additional Information
Segment Information
Per Share Information Subsequent Events

Supplemental Information:

“Selected Financial Information under Japanese GAAP For the Fiscal Year Ended March 31, 2024”

(*)	The following is the schedule of internet conference and explanation for investors and analysts. You can confirm those contents over the internet.


Internet Conference:		May 15, 2024 (Wednesday)

Explanation for investors and analysts:		May 17, 2024 (Friday)

Mitsubishi UFJ Financial Group, Inc.

1. Results of Operations and Financial Condition

(1) Analysis of results of operations

(Results of operations for the fiscal year ended March 31, 2024)

Consolidated gross profits for the fiscal year ended March 31, 2024 increased 229.5 billion yen from the previous fiscal year to 4,732.5 billion yen. This was due to an increase in net fees and commissions mainly from overseas business and an increase in net other operating profits resulting from decrease of net losses on debt securities through rebalancing the bond portfolio, partially offset by an decrease in net interest income due to the absence of gains on investment trusts cancellation included in the previous year and the impact of the sale of MUFG Union Bank, N.A. General and administrative expenses decreased 19.9 billion yen from the previous fiscal year to 2,888.7 billion yen, mainly due to the impact of the sale of MUFG Union Bank, N.A. As a result, net operating profits increased 249.4 billion yen from the previous fiscal year to 1,843.7 billion yen.

Total credit costs decreased 176.9 billion yen from the previous fiscal year to 497.9 billion yen, mainly due to the absence of valuation losses on loans held by MUFG Union Bank, N.A., included in the previous fiscal year. Other non-recurring gains improved 491.5 billion yen from the previous fiscal year, mainly due to the absence of valuation losses on bonds held by MUFG Union Bank, N.A., included in the previous fiscal year. As a result, ordinary profits for the fiscal year ended March 31, 2024 increased 1,107.2 billion yen from the previous fiscal year to 2,127.9 billion yen. Net extraordinary losses decreased 627.0 billion yen from the previous fiscal year, mainly due to the absence of gains on the sale of MUFG Union Bank, N.A., included in the previous fiscal year. As a result, profits attributable to owners of parent for the fiscal year ended March 31, 2024 was 1,490.7 billion yen, an increase of 374.2 billion yen from the previous fiscal year.


(in billions of Japanese yen)	For the fiscal year ended March 31, 2024			For the fiscal year ended March 31, 2023			Increase (Decrease)
Gross profits before credit costs for trust accounts		4,732.5			4,503.0			229.5
General and administrative expenses		2,888.7			2,908.7			(19.9	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		1,843.7			1,594.2			249.4
Total credit costs		(497.9	)		(674.8	)		176.9
Net gains (losses) on equity securities		371.2			288.0			83.2
Equity in earnings of equity method investees		531.8			425.8			105.9
Other non-recurring gains (losses)		(120.9	)		(612.5	)		491.5
Ordinary profits		2,127.9			1,020.7			1,107.2
Net extraordinary gains (losses)		(77.8	)		549.1			(627.0	)
Total taxes		478.3			369.6			108.7
Profits attributable to non-controlling interests		80.9			83.8			(2.8	)
Profits attributable to owners of parent		1,490.7			1,116.4			374.2

Mitsubishi UFJ Financial Group, Inc.

(2) Analysis of financial condition

Total assets as of March 31, 2024 increased 16,903.6 billion yen from March 31, 2023 to 403,703.1 billion yen, and total net assets as of March 31, 2024 increased 2,474.1 billion yen from March 31, 2023 to 20,746.9 billion yen. The increase in total net assets was mainly due to an increase of Retained earnings and Foreign currency translation adjustments, etc.

With regard to major items of assets, loans and bills discounted as of March 31, 2024 increased 7,679.3 billion yen from March 31, 2023 to 116,825.6 billion yen and securities as of March 31, 2024 increased 131.6 billion yen from March 31, 2023 to 86,878.5 billion yen. With regard to major items of liabilities, deposits as of March 31, 2024 increased 10,425.5 billion yen from March 31, 2023 to 224,035.0 billion yen.

2. Basic Views on Selection of Accounting Standards

MUFG group, currently adopting Japanese GAAP, is preparing for its future adoption of IFRS by considering the development of its infrastructures and organizations within the group, and the timing of adoption.

Mitsubishi UFJ Financial Group, Inc.

3. Consolidated Financial Statements and Notes

(1) Consolidated Balance Sheets


(in millions of yen)	As of March 31, 2023			As of March 31, 2024
Assets:
Cash and due from banks		113,630,172			109,875,097
Call loans and bills bought		618,223			720,879
Receivables under resale agreements		14,000,846			18,367,908
Receivables under securities borrowing transactions		4,549,792			5,010,399
Monetary claims bought		7,325,185			7,786,978
Trading assets		18,013,184			20,886,546
Money held in trust		1,287,020			1,270,815
Securities		86,746,900			86,878,589
Loans and bills discounted		109,146,272			116,825,660
Foreign exchanges		2,300,198			2,496,308
Other assets		15,195,896			17,912,498
Tangible fixed assets		1,220,172			1,229,007
Buildings		286,879			281,807
Land		629,782			625,557
Lease assets		12,390			15,517
Construction in progress		34,649			29,264
Other tangible fixed assets		256,469			276,860
Intangible fixed assets		1,358,124			1,671,372
Software		555,235			611,287
Goodwill		252,009			405,629
Lease assets		17			26
Other intangible fixed assets		550,862			654,429
Net defined benefit assets		1,325,434			1,982,502
Deferred tax assets		322,021			156,673
Customers’ liabilities for acceptances and guarantees		11,005,758			12,167,164
Allowance for credit losses		(1,245,727	)		(1,535,253	)

Total assets		386,799,477			403,703,147

Mitsubishi UFJ Financial Group, Inc.


(in millions of yen)	As of March 31, 2023			As of March 31, 2024
Liabilities:
Deposits		213,609,501			224,035,035
Negotiable certificates of deposit		13,632,559			16,555,451
Call money and bills sold		3,449,234			5,125,583
Payables under repurchase agreements		39,982,955			35,482,072
Payables under securities lending transactions		1,171,947			1,047,194
Commercial papers		2,220,723			3,105,779
Trading liabilities		14,716,820			16,729,760
Borrowed money		24,856,340			25,955,961
Foreign exchanges		2,570,412			3,465,919
Short-term bonds payable		1,047,499			1,211,769
Bonds payable		15,708,720			16,303,298
Due to trust accounts		11,689,414			7,387,495
Other liabilities		12,132,972			13,312,715
Reserve for bonuses		196,850			243,372
Reserve for bonuses to directors		3,639			2,629
Reserve for stocks payment		9,304			13,331
Net defined benefit liabilities		86,445			102,155
Reserve for retirement benefits to directors		830			822
Reserve for loyalty award credits		17,962			17,809
Reserve for contingent losses		164,891			133,860
Reserves under special laws		4,659			5,058
Deferred tax liabilities		157,651			465,295
Deferred tax liabilities for land revaluation		89,525			86,631
Acceptances and guarantees		11,005,758			12,167,164

Total liabilities		368,526,620			382,956,169

Net assets:
Capital stock		2,141,513			2,141,513
Capital surplus		349,661			83,623
Retained earnings		12,739,228			13,791,608
Treasury stock		(481,091	)		(613,823	)

Total shareholders’ equity		14,749,310			15,402,921

Net unrealized gains (losses) on available-for-sale securities		800,955			1,534,094
Net deferred gains (losses) on hedging instruments		(387,079	)		(687,476	)
Land revaluation excess		135,526			133,967
Foreign currency translation adjustments		1,792,840			2,762,818
Remeasurements of defined benefit plans		140,485			507,085
Debt value adjustments of foreign subsidiaries and affiliates		(747	)		(65,435	)

Total accumulated other comprehensive income		2,481,980			4,185,052

Subscription rights to shares		—			0
Non-controlling interests		1,041,565			1,159,003

Total net assets		18,272,857			20,746,978

Total liabilities and net assets		386,799,477			403,703,147

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 fiscal year ended March 31, 2023		For the fiscal year ended March 31, 2024
Ordinary income		9,281,027		11,890,350
Interest income		5,298,944		7,468,679
Interest on loans and bills discounted		2,810,147		3,969,660
Interest and dividends on securities		1,452,461		1,372,086
Interest on call loans and bills bought		19,104		31,822
Interest on receivables under resale agreements		111,940		421,537
Interest on receivables under securities borrowing transactions		43,509		125,323
Interest on deposits		364,406		709,392
Other interest income		497,373		838,856
Trust fees		140,637		139,363
Fees and commissions		1,883,428		2,047,232
Trading income		373,347		368,172
Other operating income		631,365		679,329
Other ordinary income		953,304		1,187,572
Gains on loans written-off		96,569		101,726
Others		856,735		1,085,846
Ordinary expenses		8,260,299		9,762,391
Interest expenses		2,372,735		5,011,105
Interest on deposits		887,987		1,929,404
Interest on negotiable certificates of deposit		283,076		681,823
Interest on call money and bills sold		3,173		1,718
Interest on payables under repurchase agreements		454,200		1,065,167
Interest on payables under securities lending transactions		2,193		22,801
Interest on commercial papers		78,041		164,313
Interest on borrowed money		61,677		114,617
Interest on short-term bonds payable		135		362
Interest on bonds payable		355,003		470,099
Other interest expenses		247,246		560,796
Fees and commissions		328,660		365,940
Trading expenses		284		—
Other operating expenses		1,622,838		593,515
General and administrative expenses		2,969,325		2,920,875
Other ordinary expenses		966,453		870,954
Provision for allowance for credit losses		225,416		377,978
Others		741,037		492,975

Ordinary profits		1,020,728		2,127,958

Mitsubishi UFJ Financial Group, Inc.


(in millions of yen)	For the fiscal year ended March 31, 2023			For the fiscal year ended March 31, 2024
Extraordinary gains		715,667			19,738
Gains on disposition of fixed assets		16,157			19,621
Gains on change in equity		—			117
Gains on sales of shares of subsidiaries		699,509			—
Extraordinary losses		166,472			97,593
Losses on disposition of fixed assets		17,076			15,027
Losses on impairment of fixed assets		18,167			31,108
Provision for reserve for contingent liabilities from financial instruments transactions		2			399
Losses on change in equity		23,711			50,964
Losses on sales of shares of subsidiaries		—			93
Losses on pension buyout		78,111			—
Losses on sales of shares of affiliates		29,401			—

Profits before income taxes		1,569,923			2,050,104

Income taxes-current		436,968			411,857
Income taxes-deferred		(67,361	)		66,485

Total taxes		369,607			478,342

Profits		1,200,316			1,571,761

Profits attributable to non-controlling interests		83,820			80,979

Profits attributable to owners of parent		1,116,496			1,490,781

Mitsubishi UFJ Financial Group, Inc.

Consolidated Statements of Comprehensive Income


(in millions of yen)	For the fiscal year ended March 31, 2023			For the fiscal year ended March 31, 2024
Profits		1,200,316			1,571,761
Other comprehensive income
Net unrealized gains (losses) on available-for-sale securities		(676,883	)		706,097
Net deferred gains (losses) on hedging instruments		(315,870	)		(297,162	)
Foreign currency translation adjustments		701,427			587,606
Remeasurements of defined benefit plans		(54,790	)		369,769
Share of other comprehensive income of associates accounted for using equity method		304,600			378,446

Total other comprehensive income		(41,515	)		1,744,757

Comprehensive income		1,158,800			3,316,519

(Comprehensive income attributable to)
Comprehensive income attributable to owners of parent		1,038,465			3,195,413
Comprehensive income attributable to non-controlling interests		120,335			121,106

Mitsubishi UFJ Financial Group, Inc.

(3) Consolidated Statements of Changes in Net Assets

For the fiscal year ended March 31, 2023


	(in millions of yen)
	Shareholders’ equity															Accumulated other comprehensive income
	Capital stock			Capital surplus			Retained earnings			Treasury stock			Total shareholders’ equity			Net unrealized gains (losses) on available-for- sale securities			Net deferred gains (losses) on hedging instruments
Balance at the beginning of the period		2,141,513			770,277			11,998,157			(451,288	)		14,458,659			1,615,060			(81,145	)
Cumulative effects of changes in accounting policies								—						—
Restated balance		2,141,513			770,277			11,998,157			(451,288	)		14,458,659			1,615,060			(81,145	)
Changes during the period
Cash dividends								(380,528	)					(380,528	)
Profits attributable to owners of parent								1,116,496						1,116,496
Repurchase of treasury stock											(450,018	)		(450,018	)
Disposal of treasury stock					0						2,118			2,118
Retirement of treasury stock					(418,097	)					418,097			—
Reversal of land revaluation excess								5,102						5,102
Changes in subsidiaries’ equity					1,510									1,510
Change from transaction under common control involving overseas subsidiary					(4,028	)								(4,028	)
Net changes of items other than shareholders’ equity																	(814,104	)		(305,933	)
Total changes during the period		—			(420,616	)		741,070			(29,802	)		290,651			(814,104	)		(305,933	)
Balance at the end of the period		2,141,513			349,661			12,739,228			(481,091	)		14,749,310			800,955			(387,079	)

	(in millions of yen)
	Accumulated other comprehensive income															Non- controlling interests			Total net assets
	Land revaluation excess			Foreign currency translation adjustments			Remeasurements of defined benefit plans			Debt value adjustments of foreign subsidiaries and affiliates			Total accumulated other comprehensive income			Non- controlling interests			Total net assets
Balance at the beginning of the period		140,628			734,588			193,865			(37,883	)		2,565,114			964,471			17,988,245
Cumulative effects of changes in accounting policies																	—			—
Restated balance		140,628			734,588			193,865			(37,883	)		2,565,114			964,471			17,988,245
Changes during the period
Cash dividends																				(380,528	)
Profits attributable to owners of parent																				1,116,496
Repurchase of treasury stock																				(450,018	)
Disposal of treasury stock																				2,118
Retirement of treasury stock																				—
Reversal of land revaluation excess																				5,102
Changes in subsidiaries’ equity																				1,510
Change from transaction under common control involving overseas subsidiary																				(4,028	)
Net changes of items other than shareholders’ equity		(5,102	)		1,058,251			(53,380	)		37,136			(83,133	)		77,094			(6,039	)
Total changes during the period		(5,102	)		1,058,251			(53,380	)		37,136			(83,133	)		77,094			284,612
Balance at the end of the period		135,526			1,792,840			140,485			(747	)		2,481,980			1,041,565			18,272,857

Mitsubishi UFJ Financial Group, Inc.

For the fiscal year ended March 31, 2024


	(in millions of yen)
	Shareholders’ equity														Accumulated other comprehensive income
	Capital stock		Capital surplus			Retained earnings			Treasury stock			Total shareholders’ equity			Net unrealized gains (losses) on available-for-sale securities		Net deferred gains (losses) on hedging instruments
Balance at the beginning of the period		2,141,513		349,661			12,739,228			(481,091	)		14,749,310			800,955		(387,079	)
Changes during the period
Cash dividends							(439,960	)					(439,960	)
Profits attributable to owners of parent							1,490,781						1,490,781
Repurchase of treasury stock										(400,036	)		(400,036	)
Disposal of treasury stock				211						2,295			2,506
Retirement of treasury stock				(265,009	)					265,009			—
Reversal of land revaluation excess							1,559						1,559
Changes in subsidiaries’ equity				(1,239	)								(1,239	)
Net changes of items other than shareholders’ equity																733,139		(300,397	)
Total changes during the period		—		(266,037	)		1,052,380			(132,731	)		653,610			733,139		(300,397	)
Balance at the end of the period		2,141,513		83,623			13,791,608			(613,823	)		15,402,921			1,534,094		(687,476	)


	(in millions of yen)
	Accumulated other comprehensive income												Subscription rights to shares		Non-controlling interests		Total net assets
	Land revaluation excess			Foreign currency translation adjustments		Remeasurements of defined benefit plans		Debt value adjustments of foreign subsidiaries and affiliates			Total accumulated other comprehensive income		Subscription rights to shares		Non-controlling interests		Total net assets
Balance at the beginning of the period		135,526			1,792,840		140,485		(747	)		2,481,980		—		1,041,565		18,272,857
Changes during the period
Cash dividends																		(439,960	)
Profits attributable to owners of parent																		1,490,781
Repurchase of treasury stock																		(400,036	)
Disposal of treasury stock																		2,506
Retirement of treasury stock																		—
Reversal of land revaluation excess																		1,559
Changes in subsidiaries’ equity																		(1,239	)
Net changes of items other than shareholders’ equity		(1,559	)		969,978		366,600		(64,688	)		1,703,072		0		117,437		1,820,510
Total changes during the period		(1,559	)		969,978		366,600		(64,688	)		1,703,072		0		117,437		2,474,121
Balance at the end of the period		133,967			2,762,818		507,085		(65,435	)		4,185,052		0		1,159,003		20,746,978

Mitsubishi UFJ Financial Group, Inc.

(4) Consolidated Statements of Cash Flows


(in millions of yen)	For the fiscal year ended March 31, 2023			For the fiscal year ended March 31, 2024
Cash flows from operating activities:
Profits before income taxes		1,569,923			2,050,104
Depreciation and amortization		314,708			340,137
Impairment losses		18,167			31,108
Amortization of goodwill		19,928			22,230
Equity in losses (gains) of equity method investees		(425,829	)		(531,803	)
Losses on pension buyout		78,111			—
Increase (decrease) in allowance for credit losses		(32,780	)		224,881
Increase (decrease) in reserve for bonuses		71,053			34,279
Increase (decrease) in reserve for bonuses to directors		1,727			(1,239	)
Increase (decrease) in reserve for stocks payment		866			4,027
Decrease (increase) in net defined benefit assets		(53,774	)		(481,644	)
Increase (decrease) in net defined benefit liabilities		123			7,404
Increase (decrease) in reserve for retirement benefits to directors		17			(7	)
Increase (decrease) in reserve for loyalty award credits		(213	)		(1,077	)
Increase (decrease) in reserve for contingent losses		(64,789	)		(32,296	)
Interest income recognized on statement of income		(5,298,944	)		(7,468,679	)
Interest expenses recognized on statement of income		2,372,735			5,011,105
Losses (gains) on securities		481,930			79,574
Losses (gains) on money held in trust		6,088			76,366
Foreign exchange losses (gains)		(2,255,057	)		(4,994,338	)
Losses (gains) on sales of fixed assets		918			(4,594	)
Net decrease (increase) in trading assets		(42,347	)		(2,288,718	)
Net increase (decrease) in trading liabilities		2,219,838			1,387,039
Adjustment of unsettled trading accounts		(651,611	)		(206,076	)
Net decrease (increase) in loans and bills discounted		(4,211,367	)		(6,763,304	)
Net increase (decrease) in deposits		7,118,314			9,410,399
Net increase (decrease) in negotiable certificates of deposit		2,869,240			2,903,887
Net increase (decrease) in borrowed money (excluding subordinated borrowings)		(6,264,775	)		920,095
Net decrease (increase) in call loans and bills bought and others		(1,804,036	)		(4,059,830	)
Net decrease (increase) in receivables under securities borrowing transactions		153,662			(281,434	)
Net increase (decrease) in call money and bills sold and others		12,597,828			(3,720,809	)
Net increase (decrease) in commercial papers		179,650			885,347
Net increase (decrease) in payables under securities lending transactions		83,926			(125,534	)
Net decrease (increase) in foreign exchanges (assets)		(3,533	)		(170,240	)
Net increase (decrease) in foreign exchanges (liabilities)		389,405			895,169
Net increase (decrease) in short-term bonds payable		(269,304	)		164,270
Net increase (decrease) in issuance and redemption of unsubordinated bonds payable		2,595,987			(295,231	)
Net increase (decrease) in due to trust accounts		(1,121,708	)		(4,301,919	)
Interest income (cash basis)		4,923,477			7,250,761
Interest expenses (cash basis)		(2,098,922	)		(4,851,903	)
Others		440,666			(435,455	)

Sub-total		13,909,305			(9,317,949	)

Income taxes		(549,466	)		(607,135	)
Refund of income taxes		71,934			80,225

Net cash provided by (used in) operating activities		13,431,773			(9,844,860	)

Mitsubishi UFJ Financial Group, Inc.


(in millions of yen)	For the fiscal year ended March 31, 2023			For the fiscal year ended March 31, 2024
Cash flows from investing activities:
Purchases of securities		(103,993,341	)		(92,819,270	)
Proceeds from sales of securities		58,441,528			64,100,921
Proceeds from redemption of securities		36,986,139			33,333,232
Payments for increase in money held in trust		(1,040,424	)		(1,378,121	)
Proceeds from decrease in money held in trust		1,075,874			1,333,026
Purchases of tangible fixed assets		(118,147	)		(129,650	)
Purchases of intangible fixed assets		(283,478	)		(333,157	)
Proceeds from sales of tangible fixed assets		46,360			78,282
Proceeds from sales of intangible fixed assets		180			568
Proceeds from transfer of businesses		—			5,070
Payments for acquisition of subsidiaries’ equity affecting the scope of consolidation		—			(205,797	)
Payments for sales of subsidiaries’ equity affecting the scope of consolidation		(1,784,755	)		—
Proceeds from sales of subsidiaries’ equity affecting the scope of consolidation		—			4,406
Others		(5,032	)		(3,092	)

Net cash provided by (used in) investing activities		(10,675,096	)		3,986,415

Cash flows from financing activities:
Proceeds from subordinated borrowings		29,000			123,000
Repayments of subordinated borrowings		(28,000	)		(68,000	)
Proceeds from issuance of subordinated bonds payable and bonds with warrants		670,246			992,021
Payments for redemption of subordinated bonds payable and bonds with warrants		(787,754	)		(155,290	)
Proceeds from issuance of common stock to non-controlling shareholders		227			945
Repayments to non-controlling shareholders		—			(216	)
Dividends paid by MUFG		(380,447	)		(439,755	)
Dividends paid by subsidiaries to non-controlling shareholders		(32,050	)		(44,946	)
Purchases of treasury stock		(450,153	)		(400,156	)
Proceeds from sales of treasury stock		2,237			2,297
Payments for purchases of subsidiaries’ equity not affecting the scope of consolidation		(444	)		(1,592	)

Net cash provided by (used in) financing activities		(977,138	)		8,307

Effect of foreign exchange rate changes on cash and cash equivalents		1,089,328			2,090,467

Net increase (decrease) in cash and cash equivalents		2,868,867			(3,759,669	)

Cash and cash equivalents at the beginning of the period		110,763,205			113,630,172

Increase in cash and cash equivalents resulting from inclusion of subsidiaries in consolidation		—			4,595
Decrease in cash and cash equivalents resulting from exclusion of subsidiaries from consolidation		(1,900	)		—

Cash and cash equivalents at the end of the period		113,630,172			109,875,097

Mitsubishi UFJ Financial Group, Inc.

Notes to the Consolidated Financial Statements

(Notes on Going-Concern Assumption)

None.

(Changes in Presentation of Financial Information)

“Refund of income taxes”, which was previously presented separately from “Income taxes”, on a disaggregated basis for the fiscal year ended March 31, 2023, is included in “Income taxes” on a net basis from the fiscal year ended March 31, 2024 due to the decreased significance in the recorded amount. In order to reflect this change in presentation, the consolidated financial statements for the fiscal year ended March 31, 2023 have been reclassified.

As a result, “Income taxes” of ¥493,256 million and “Refund of income taxes” of ¥(56,288) million previously presented in the consolidated statement of income for the fiscal year ended March 31, 2023 have been aggregated on a net basis and reclassified into “Income taxes” of ¥436,968 million.

(Additional Information)

(Information that is relevant to readers’ understanding of the consolidated financial statements regarding the calculation of allowance for credit losses)

The process of calculating the allowance for credit losses for the Bank and its domestic consolidated subsidiaries, our principal domestic consolidated banking subsidiaries, involves various estimates such as determination of borrower credit ratings which are based on evaluation and classification of borrowers’ debt-service capacity, assessment of the value of collateral provided by borrowers, estimation of future cash flows when applying the cash flow estimation method, 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, those determination of internal credit ratings for these 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.

MUFG Bank, Ltd. (“the Bank”), our principal consolidated domestic banking subsidiary, applies the cash flow estimation method when providing for allowance for credit losses for loans to substantially bankrupt borrowers and borrowers requiring special attention and caution in cases where it is possible to reasonably estimate the cash flows related to the collection of loan principal and receipt of interest payments. The estimation of such future cash flows is based on a borrower-specific assessment regarding the collectability of loans, including past collection experience, evaluation of the borrower’s restructuring plans, the financial condition and operating results of the borrower, and the economic environment of the industry to which the borrower belongs. In this regard, the estimation of future cash flows may be highly dependent on estimation of borrowers’ future performance and business sustainability. Estimates are subject to a high degree of uncertainly especially when made in connection with assessments regarding the collectability of loans to substantially bankrupt borrowers with respect to which objective information is not reasonably available.

In addition, when calculating allowance for credit losses, the Bank determines 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 Bank makes such adjustments based on future projections and other factors to the loss rate calculated based on historical loss experience, when and to the extent such adjustments are deemed appropriate by, for example, considering any additional expected loss amount not reflected in such loss rate calculated based on historical loss experience, especially in light of the Russia-Ukraine situation. The amount of impact of these adjustments as of the end of the current fiscal year is 42,492 million yen (69,569 million yen 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 second quarter of the fiscal year ended March 31, 2024, no adjustments are 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.

Mitsubishi UFJ Financial Group, Inc.

In addition, certain overseas subsidiaries which apply Generally Accepted Accounting Principles in the United States (“U.S. GAAP”) have adopted Accounting Standards Codification (“ASC”) Topic 326, “Financial Instruments—Credit losses,” and 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.

Significant assumptions used in our calculation of allowance for credit losses, including those described above, are subject to uncertainty. In particular, certain 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 there to for qualitative factors, by certain subsidiaries which apply U.S. GAAP, are based on estimation relating to the economic environment, including changes in economic conditions, commodity prices and monetary policy in each country as well as geopolitical situations, with respect to which objective data are not readily available.

In particular, future developments concerning the Russia-Ukraine situation are subject to significant uncertainty. Accordingly, we make certain assumptions, including that the current Russia-Ukraine situation continues for a while. The recorded allowance represents our best estimate made in a manner designed to ensure objectivity and rationality.

These assumptions change to reflect the Russia-Ukraine situation, and changes in the assumptions may result in an increase or decrease in the allowance for credit losses in the following fiscal year.

Mitsubishi UFJ Financial Group, Inc.

(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 fiscal year. However, from the perspective of providing financial information in a more timely manner, MUFG has decided to make modifications so that, effective from the fiscal year ended March 31, 2024, the equity method of accounting is to applied to Morgan Stanley based on a provisional closing of accounts implemented as of March 31, which is the end of MUFG’s fiscal year.

Accordingly, for the fiscal year ended March 31, 2024, the equity method of accounting has been applied to Morgan Stanley’s consolidated financial statements for the fifteen-month period from January 1, 2023 to March 31, 2024 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 from the beginning of the fiscal year ended March 31, 2024.

For the period from January 1, 2023 to March 31, 2023, equity in earnings of the equity method investees related to Morgan Stanley is 106,161 million yen, losses on change in equity related to Morgan Stanley is 22,058 million yen, and share of other comprehensive income of associates accounted for using equity method related to Morgan Stanley included in other comprehensive income is 406,491 million yen.

(Provisional closing of accounts of a significant subsidiary planned for the fiscal year ending March 31, 2025)

Bank of Ayudhya Public Company Limited(“Krungsri”), a significant subsidiary of MUFG, closes its financial accounts based on a fiscal year-end of December 31, and is consolidated based on its consolidated financial statements as of the December 31 fiscal year-end.

However, from the perspective of providing financial information in a more timely manner, MUFG has decided to consolidate Krungsri based on a provisional closing of accounts of Krungsri to be implemented as of March 31, which is MUFG’s fiscal year-end, effective from the beginning of the fiscal year ending March 31, 2025.

Accordingly, for the fiscal year ending March 31, 2025, Krungsri’s financial results for the 15-month period from January 1, 2024 to March 31, 2025 are expected to be reflected in MUFG’s consolidated financial statements.

Mitsubishi UFJ Financial Group, Inc.

(Segment Information)

1.	Information on net revenue, operating profit (loss), and fixed assets for each reporting segment

For the Fiscal Year Ended March 31, 2024


	(in millions of yen)
	Digital Service Business Group		Retail & Commercial Banking Business Group		Japanese Corporate & Investment Banking Business Group		Global Commercial Banking Business Group		Asset Management & Investor Services Business Group		Global Corporate & Investment Banking Business Group		Total of Customer Business		Global Markets Business Group		Other			Total
Net revenue		782,544		709,398		1,013,680		684,992		432,311		863,065		4,485,994		323,387		(37,592	)		4,771,789
Operating expenses		536,613		463,978		343,839		382,862		307,305		361,391		2,395,990		300,033		232,871			2,928,896
Operating profit (loss)		245,931		245,419		669,841		302,130		125,005		501,674		2,090,003		23,353		(270,463	)		1,842,893
Fixed assets at period end		186,829		228,577		169,234		1,636		21,246		170,905		778,429		114,297		502,246			1,394,973

(Notes)

“Net revenue” in the above table is used in lieu of net sales generally used by Japanese non-financial companies.

“Net revenue” includes net interest income, trust fees, net fees and commissions, net trading profit, and net other operating profit.

“Operating expenses” includes personnel expenses and premise expenses.

“Fixed assets at period end” for each reporting segment in the above table represent those related to the Bank and Mitsubishi UFJ Trust and Banking Corporation. Those fixed assets and consolidation adjustments related to MUFG and its other consolidated subsidiaries, which are not allocated to reporting segments, were ¥1,505,407 million. With respect to such fixed assets not allocated to reporting segments, certain related expenses are allocated to each reporting segment on a reasonable basis.

2.	Reconciliation of the total operating profit in each of the above tables to the ordinary profit in the consolidated statement of income for the corresponding fiscal year period


Operating profit	For the fiscal year ended March 31, 2024
Total operating profit of reporting segments		1,842,893
Operating profit of consolidated subsidiaries excluded from reporting segments		(373	)
Provision for general allowance for credit losses		(6,723	)
Credit related expenses		(592,913	)
Gains on loans written-off		101,726
Net gains on equity securities and other securities		371,274
Equity in earnings of equity method investees		531,803
Others		(119,727	)

Ordinary profit in the consolidated statement of income		2,127,958

Mitsubishi UFJ Financial Group, Inc.

(Per Share Information)


	For the fiscal year ended March 31, 2024
Total equity per common share	¥	1,670.44
Basic earnings per common share	¥	124.64
Diluted earnings per common share	¥	124.32

(Notes)

The bases for the calculation of basic earnings per common share and diluted earnings per common share for the periods indicated were as follows:


		For the fiscal year ended March 31, 2024
Basic earnings per common share
Profits attributable to owners of parent	million yen	1,490,781
Profits not attributable to common shareholders	million yen	—
Profits attributable to common shareholders of parent	million yen	1,490,781
Average number of common shares during the period	thousand shares	11,959,977

Diluted earnings per common share
Adjustment to profits attributable to owners of parent	million yen	(3,807)
Adjustment related to dilutive shares of consolidated subsidiaries and others	million yen	(3,807)
Increase in common shares	thousand shares	—
Description of antidilutive securities which were not included in the calculation of diluted earnings per share		Share subscription rights issued by equity method affiliates: Morgan Stanley Stock options and others - 0 million units as of March 31, 2024

The bases for the calculation of total equity per common share for the period indicated were as follows:


		As of March 31, 2024
Total equity	million yen	20,746,978
Deductions from total equity:	million yen	1,159,004
Subscription rights to shares	million yen	0
Non-controlling interests	million yen	1,159,003
Total equity attributable to common shares	million yen	19,587,974
Number of common shares at period end used for the calculation of total equity per common share	thousand shares	11,726,188

Mitsubishi UFJ Financial Group, Inc.

(Subsequent Events)

None.

Selected Financial Information

under Japanese GAAP

For the Fiscal Year Ended March 31, 2024


Mitsubishi UFJ Financial Group, Inc.

Mitsubishi UFJ Financial Group, Inc.

[Contents]


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

2. Average Interest Rate Spread	[ BK Non-consolidated ][ TB Non-consolidated ] [ BK and TB Combined ]	7

3. Notional Principal by the Remaining Life of the Interest Rate Swaps for Hedge-Accounting	[ MUFG Consolidated ] [ BK Consolidated ] [ TB Consolidated ]	8

4. Securities	[ MUFG Consolidated ] [ BK Non-consolidated ] [ TB Non-consolidated ]	9

5. ROE	[ MUFG Consolidated ]	12

6. Risk-Adjusted Capital Ratio	[ MUFG Consolidated ][ BK Consolidated ][ TB Consolidated ] [ BK Non-consolidated ][ TB Non-consolidated ]	13

7. 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 ]	14

8. Progress in Disposition of Problem Assets	[ BK Non-consolidated ] [ TB Non-consolidated including Trust Account ]	20

9. Loans Classified by Type of Industry	[ BK and TB Combined including Trust Accounts ] [ BK Non-consolidated ][ TB Non-consolidated ] [ TB Non-consolidated : Trust Accounts ]	22

10 Domestic Consumer Loans, Domestic Loans to Small/Medium-Sized Companies and Proprietors	[ BK Non-consolidated ] [ TB Non-consolidated including Trust Account ]	26

11. Overseas Loans	[ BK Consolidated excl. KS, BDI ]56	27

12. Loans and Deposits	[ BK and TB Combined ] [ BK Non-consolidated ][ TB Non-consolidated ]	28

13. Domestic Deposits	[ BK and TB Combined ] [ BK Non-consolidated ][ TB Non-consolidated ]	29

14. Status of Deferred Tax Assets	[ BK Non-consolidated ][ TB Non-consolidated ]	30

15. Retirement Benefits	[ MUFG Consolidated ] [ BK Non-consolidated ][ TB Non-consolidated ]	32

(Reference) 1. Financial Statements	[ BK Non-consolidated ][ TB Non-consolidated ]	35

(*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.

(*5)	“KS” means Bank of Ayudhya Public Company Limited.

(*6)	“BDI” means PT Bank Danamon Indonesia, Tbk.

Mitsubishi UFJ Financial Group, Inc.

1. Financial Results

MUFG Consolidated


	(in millions of yen)
	For the fiscal year ended						Increase
	March 31, 2024 (A)			March 31, 2023 (B)			(Decrease) (A) - (B)
Gross profits		4,732,524			4,503,008			229,515
Gross profits before credit costs for trust accounts		4,732,519			4,503,008			229,510
Net interest income		2,457,882			2,907,511			(449,629	)
Trust fees		139,363			140,637			(1,274	)
Credit costs for trust accounts (1)		4			—			4
Net fees and commissions		1,681,291			1,554,767			126,524
Net trading profits		368,172			372,093			(3,920	)
Net other operating profits		85,813			(472,001	)		557,815
Net gains (losses) on debt securities		(450,755	)		(884,618	)		433,862
General and administrative expenses		2,888,747			2,908,709			(19,962	)
Amortization of goodwill		22,230			19,928			2,302
Net operating profits before credit costs for trust accounts, provision for general allowance for credit losses and amortization of goodwill		1,866,003			1,614,227			251,775
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		1,843,772			1,594,299			249,472
Provision for general allowance for credit losses (2)		(6,723	)		(36,608	)		29,884
Net operating profits*1		1,837,053			1,557,691			279,361
Net non-recurring gains (losses)		290,905			(536,963	)		827,868
Credit costs (3)		(592,913	)		(746,353	)		153,439
Losses on loan write-offs*2		(193,119	)		(547,783	)		354,663
Provision for specific allowance for credit losses		(387,362	)		(197,561	)		(189,801	)
Other credit costs		(12,432	)		(1,009	)		(11,422	)
Reversal of allowance for credit losses (4)		—			—			—
Reversal of reserve for contingent losses included in credit costs (5)		—			11,550			(11,550	)
Gains on loans written-off (6)		101,726			96,569			5,156
Net gains (losses) on equity securities		371,274			288,000			83,274
Gains on sales of equity securities		452,125			332,747			119,377
Losses on sales of equity securities		(70,673	)		(28,796	)		(41,877	)
Losses on write-down of equity securities		(10,177	)		(15,950	)		5,773
Equity in earnings of equity method investees		531,803			425,829			105,973
Other non-recurring gains (losses)*2		(120,985	)		(612,559	)		491,574

Ordinary profits		2,127,958			1,020,728			1,107,230

Net extraordinary gains (losses)		(77,854	)		549,195			(627,049	)
Net gains (losses) on disposition of fixed assets		4,594			(918	)		5,513
Losses on impairment of fixed assets		(31,108	)		(18,167	)		(12,940	)
Net gains (losses) sales of shares of subsidiaries*3		(93	)		699,509			(699,603	)
Net gains (losses) on change in equity		(50,847	)		(23,711	)		(27,135	)
Net gains (losses) on sales of shares of affiliates		—			(29,401	)		29,401
Losses on pension buyout		—			(78,111	)		78,111
Profits before income taxes		2,050,104			1,569,923			480,180
Income taxes-current		411,857			436,968			(25,111	)
Income taxes-deferred		66,485			(67,361	)		133,847
Total taxes		478,342			369,607			108,735
Profits		1,571,761			1,200,316			371,444
Profits attributable to non-controlling interests		80,979			83,820			(2,840	)

Profits attributable to owners of parent		1,490,781			1,116,496			374,285


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. (“MUB”), an aggregate of ¥952,590 million of losses were recognized for the fiscal year ended March 31, 2023, primarily in accordance with Accounting Standards Codification (“ASC”) Topic 326, “Financial Instruments—Credit losses,” and ASC Topic 310, “Receivables.” These losses consist mainly of ¥555,421 million of valuation losses related to securities held for sale, which are included in Other non-recurring gains (losses), and ¥400,511 million of valuation losses related to loans held for sale, which are included in Losses on loan write-offs.
*3. “Net gains (losses) sales of shares of subsidiaries” for the fiscal year ended March 31, 2023, includes ¥699,509 million of gains on sales of shares of subsidiaries resulting from the sale of the shares in MUB.

(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		(497,907	)		(674,842	)		176,935
Number of consolidated subsidiaries		253			246			7
Number of affiliated companies accounted for under the equity method		51			46			5

Mitsubishi UFJ Financial Group, Inc.

BK and TB Combined


	(in millions of yen)
	For the fiscal year ended						Increase
	March 31, 2024 (A)			March 31, 2023 (B)			(Decrease) (A) - (B)
Gross profits		2,565,957			2,150,510			415,447
Gross profits before credit costs for trust accounts		2,565,953			2,150,510			415,443
Domestic gross profits		1,179,786			1,129,899			49,887
Net interest income		772,653			734,884			37,768
Trust fees		120,757			111,924			8,833
Credit costs for trust accounts (1)		4			—			4
Net fees and commissions		375,410			358,002			17,407
Net trading profits		(6,719	)		(9,246	)		2,527
Net other operating profits		(82,315	)		(65,666	)		(16,649	)
Net gains (losses) on debt securities		(104,859	)		(102,278	)		(2,581	)
Non-domestic gross profits		1,386,170			1,020,610			365,559
Net interest income		844,261			1,119,761			(275,500	)
Net fees and commissions		389,191			266,557			122,633
Net trading profits		102,432			65,846			36,586
Net other operating profits		50,285			(431,555	)		481,841
Net gains (losses) on debt securities		(345,043	)		(780,359	)		435,316
General and administrative expenses		1,520,862			1,350,891			169,971
Personnel expenses		641,143			476,225			164,917
Non-personnel expenses		809,960			800,355			9,605
Taxes		69,759			74,311			(4,552	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		1,045,090			799,618			245,471
Provision for general allowance for credit losses (2)		5,767			(40,374	)		46,142
Net operating profits		1,050,862			759,243			291,619
Net non-recurring gains (losses)		29,492			315,640			(286,148	)
Credit costs (3)		(283,016	)		(88,696	)		(194,319	)
Reversal of allowance for credit losses (4)		85			—			85
Reversal of reserve for contingent losses included in credit costs (5)		—			9,798			(9,798	)
Gains on loans written-off (6)		26,723			20,450			6,272
Net gains (losses) on equity securities		363,467			286,114			77,353
Gains on sales of equity securities		442,142			322,193			119,948
Losses on sales of equity securities		(71,983	)		(27,596	)		(44,386	)
Losses on write-down of equity securities		(6,691	)		(8,482	)		1,790
Other non-recurring gains (losses)		(77,768	)		87,973			(165,742	)

Ordinary profits		1,080,354			1,074,883			5,470

Net extraordinary gains (losses)		(10,463	)		330,501			(340,965	)
Net gains (losses) on disposition of fixed assets		657			(2,278	)		2,935
Losses on impairment of fixed assets		(20,405	)		(10,125	)		(10,280	)
Gains on sales of shares of subsidiaries*		4,863			415,106			(410,243	)
Gains on extinguishment of tie-in shares		4,319			—			4,319
Gains on negative goodwill		—			11,040			(11,040	)
Losses on sales of shares of affiliates		—			(5,248	)		5,248
Losses on pension buyout		—			(78,111	)		78,111
Income before income taxes		1,069,891			1,405,385			(335,494	)
Income taxes-current		257,985			290,586			(32,601	)
Income taxes-deferred		(50,158	)		(25,200	)		(24,957	)
Total taxes		207,826			265,385			(57,558	)

Net income		862,064			1,139,999			(277,935	)


Note: * “Gains on sales of shares of subsidiaries” for the fiscal year ended March 31, 2023, is related to a transaction with MUFG Americas Holdings Corporation (“MUAH”).

(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		(250,434	)		(98,822	)		(151,612	)
Credit costs for trust accounts		4			—			4
Provision for general allowance for credit losses		5,853			(40,374	)		46,228
Provision for special allowance for credit losses		(237,335	)		(67,550	)		(169,784	)
Allowance for credit to specific foreign borrowers		10,752			5,188			5,564
Losses on loans write-offs		(30,782	)		(15,419	)		(15,362	)
Provision for contingent losses included in credit costs		(12,763	)		9,614			(22,378	)
Gains on loans written-off		26,723			20,450			6,272
Losses on sales of other loans, etc.		(12,887	)		(10,731	)		(2,155	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities		1,494,992			1,682,255			(187,263	)
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		1,396,187			1,126,493			269,693

Mitsubishi UFJ Financial Group, Inc.

BK Consolidated


	(in millions of yen)
	For the fiscal year ended						Increase
	March 31, 2024 (A)			March 31, 2023 (B)			(Decrease) (A) - (B)
Gross profits		3,360,598			3,240,353			120,245
Net interest income		2,145,049			2,388,320			(243,270	)
Trust fees		—			12,258			(12,258	)
Net fees and commissions		914,290			894,410			19,880
Net trading profits		192,345			130,570			61,775
Net other operating profits		108,912			(185,205	)		294,118
Net gains (losses) on debt securities		(375,997	)		(590,505	)		214,507
General and administrative expenses		1,895,166			2,004,252			(109,086	)
Amortization of goodwill		8,479			7,551			928
Net operating profits before provision for general allowance for credit losses and amortization of goodwill		1,473,911			1,243,652			230,259
Net operating profits before provision for general allowance for credit losses		1,465,432			1,236,100			229,331
Provision for general allowance for credit losses (1)		1,284			(34,640	)		35,924
Net operating profits*1		1,466,716			1,201,460			265,256
Net non-recurring gains (losses)		(116,439	)		(914,490	)		798,051
Credit costs (2)		(478,742	)		(646,764	)		168,022
Losses on loan write-offs*2		(96,866	)		(465,102	)		368,235
Provision for specific allowance for credit losses		(369,443	)		(180,652	)		(188,791	)
Other credit costs		(12,432	)		(1,009	)		(11,422	)
Reversal of allowance for credit losses (3)		—			—			—
Reversal of reserve for contingent losses included in credit costs (4)		—			11,551			(11,551	)
Gains on loans written-off (5)		75,872			71,721			4,150
Net gains (losses) on equity securities		285,362			218,639			66,723
Gains on sales of equity securities		363,056			259,129			103,926
Losses on sales of equity securities		(70,881	)		(27,516	)		(43,364	)
Losses on write-down of equity securities		(6,812	)		(12,974	)		6,161
Equity in earnings of equity method investees		39,203			36,824			2,378
Other non-recurring gains (losses)*2		(38,135	)		(606,463	)		568,327

Ordinary profits		1,350,277			286,969			1,063,307

Net extraordinary gains (losses)		(21,686	)		584,103			(605,789	)
Net gains (losses) on disposition of fixed assets		2,373			(384	)		2,757
Losses on impairment of fixed assets		(24,059	)		(6,925	)		(17,134	)
Gains on sales of shares of subsidiaries*3		—			699,509			(699,509	)
Net gains (losses) on sales of shares of affiliates		—			(29,985	)		29,985
Losses on pension buyout		—			(78,111	)		78,111
Profits before income taxes		1,328,591			871,073			457,517
Income taxes-current		328,101			347,320			(19,219	)
Income taxes-deferred		26,974			(94,318	)		121,292
Total taxes		355,075			253,001			102,073
Profits		973,515			618,071			355,444
Profits attributable to non-controlling interests		28,787			16,037			12,749

Profits attributable to owners of parent		944,728			602,034			342,694


Note:
*1. Net operating profits = Net operating profits of BK + 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 MUB, an aggregate of ¥952,590 million of losses were recognized for the fiscal year ended March 31, 2023, primarily in accordance with ASC Topic 326, “Financial Instruments—Credit losses,” and ASC Topic 310, “Receivables.” These losses consist mainly of ¥555,421 million of valuation losses related to securities held for sale, which are included in Other non-recurring gains (losses), and ¥400,511 million of valuation losses related to loans held for sale, which are included in Losses on loan write-offs.
*3. “Gains on sales of shares of subsidiaries” for the fiscal year ended March 31, 2023, includes ¥699,509 million of gains on sales of shares of subsidiaries resulting from the sale of the shares in MUB.

(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)		(401,585	)		(598,131	)		196,546

Number of consolidated subsidiaries		113			108			5
Number of affiliated companies accounted for under the equity method		44			42			2

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated


	(in millions of yen)
	For the fiscal year ended						Increase
	March 31, 2024 (A)			March 31, 2023 (B)			(Decrease) (A) - (B)
Gross profits		2,283,668			1,844,033			439,634
Domestic gross profits		896,600			843,285			53,315
Net interest income		717,094			675,384			41,709
Net fees and commissions		268,500			253,364			15,136
Net trading profits		2,917			3,005			(87	)
Net other operating profits		(91,911	)		(88,469	)		(3,442	)
Net gains (losses) on debt securities		(91,668	)		(97,938	)		6,270
Non-domestic gross profits		1,387,067			1,000,748			386,318
Net interest income		778,723			808,355			(29,631	)
Net fees and commissions		387,188			265,590			121,598
Net trading profits		106,654			75,756			30,898
Net other operating profits		114,500			(148,953	)		263,454
Net gains (losses) on debt securities		(284,229	)		(493,067	)		208,837
General and administrative expenses		1,309,067			1,153,573			155,493
Personnel expenses		571,241			413,043			158,198
Non-personnel expenses		676,244			674,889			1,355
Amortization of goodwill		3,830			2,451			1,379
Taxes		61,580			65,641			(4,061	)
Net operating profits before provision for general allowance for credit losses and amortization of goodwill		978,432			692,911			285,520
Net operating profits before provision for general allowance for credit losses		974,601			690,460			284,141
Provision for general allowance for credit losses (1)		5,767			(40,334	)		46,102
Net operating profits		980,368			650,125			330,243
Net non-recurring gains (losses)		19,402			253,619			(234,217	)
Credit costs (2)		(282,760	)		(88,507	)		(194,253	)
Reversal of allowance for credit losses (3)		—			—			—
Reversal of reserve for contingent losses included in credit costs (4)		—			9,798			(9,798	)
Gains on loans written-off (5)		26,722			20,450			6,271
Net gains (losses) on equity securities		286,136			224,294			61,842
Gains on sales of equity securities		360,191			256,280			103,910
Losses on sales of equity securities		(69,862	)		(25,697	)		(44,165	)
Losses on write-down of equity securities		(4,191	)		(6,289	)		2,097
Other non-recurring gains (losses)		(10,696	)		87,583			(98,279	)

Ordinary profits		999,771			903,744			96,026

Net extraordinary gains (losses)		(5,010	)		335,850			(340,860	)
Net gains (losses) on disposition of fixed assets		303			(1,893	)		2,196
Losses on impairment of fixed assets		(14,496	)		(5,043	)		(9,453	)
Gains on sales of shares of subsidiaries*		4,863			415,106			(410,243	)
Gains on extinguishment of tie-in shares		4,319			—			4,319
Gains on negative goodwill		—			11,040			(11,040	)
Losses on sales of shares of affiliates		—			(5,248	)		5,248
Losses on pension buyout		—			(78,111	)		78,111
Income before income taxes		994,760			1,239,594			(244,834	)
Income taxes-current		244,385			254,747			(10,362	)
Income taxes-deferred		(53,885	)		(30,607	)		(23,278	)
Total taxes		190,499			224,140			(33,640	)

Net income		804,260			1,015,454			(211,193	)


Note:
* “Gains on sales of shares of subsidiaries” for the fiscal year ended March 31, 2023, is related to a transaction with MUAH.

(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)		(250,270	)		(98,592	)		(151,677	)
Provision for general allowance for credit losses		5,767			(40,334	)		46,102
Provision for special allowance for credit losses		(237,335	)		(67,544	)		(169,791	)
Allowance for credit to specific foreign borrowers		10,752			5,188			5,564
Losses on loans write-off		(30,782	)		(15,419	)		(15,362	)
Provision for contingent losses included in credit costs		(12,508	)		9,798			(22,307	)
Gains on loans written-off		26,722			20,450			6,271
Losses on sales of other loans, etc.		(12,887	)		(10,731	)		(2,155	)
Net operating profits before provision for general allowance for credit losses, excluding net gains (losses) on debt securities		1,350,498			1,281,465			69,033
Net operating profits before provision for general allowance for credit losses, excluding net gains (losses) on debt securities and investment trusts cancellation		1,333,729			974,269			359,459

Mitsubishi UFJ Financial Group, Inc.

TB Consolidated


	(in millions of yen)
	For the fiscal year ended						Increase
	March 31, 2024 (A)			March 31, 2023 (B)			(Decrease) (A) - (B)
Gross profits		591,268			549,851			41,417
Gross profits before credit costs for trust accounts		591,264			549,851			41,413
Trust fees		139,740			128,802			10,938
Trust fees before credit costs for trust accounts		139,736			128,802			10,933
Money trusts fees (Jointly operated designated money trusts before credit costs for trust account)		16,537			15,035			1,501
Other trust fees		123,198			113,766			9,432
Credit costs for trust accounts (1)		4			—			4
Net interest income		130,455			352,384			(221,929	)
Net fees and commissions		367,843			324,161			43,682
Net trading profits		(11,307	)		(20,155	)		8,848
Net other operating profits		(35,463	)		(235,340	)		199,877
Net gains (losses) on debt securities		(74,029	)		(291,736	)		217,707
General and administrative expenses		459,133			399,994			59,139
Amortization of goodwill		13,747			12,403			1,344
Net operating profits before credit costs for trust accounts, provision for general allowance for credit losses and amortization of goodwill		145,877			162,260			(16,382	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		132,130			149,856			(17,726	)
Provision for general allowance for credit losses (2)		—			(95	)		95
Net operating profits*		132,134			149,761			(17,626	)
Net non-recurring gains (losses)		8,362			55,481			(47,119	)
Credit costs (3)		(10	)		26			(37	)
Losses on loan write-offs		(10	)		(0	)		(10	)
Provision for specific allowance for credit losses		—			26			(26	)
Other credit costs		—			—			—
Reversal of allowance for credit losses (4)		75			—			75
Reversal of reserve for contingent losses included in credit costs (5)		—			—			—
Gains on loans written-off (6)		6			16			(9	)
Net gains (losses) on equity securities		77,666			61,721			15,945
Gains on sales of equity securities		81,967			65,912			16,055
Losses on sales of equity securities		(2,120	)		(1,913	)		(206	)
Losses on write-down of equity securities		(2,180	)		(2,277	)		96
Equity in earnings of equity method investees		2,676			1,695			980
Other non-recurring gains (losses)		(72,051	)		(7,978	)		(64,073	)

Ordinary profits		140,496			205,242			(64,745	)

Net extraordinary gains (losses)		(3,796	)		(5,733	)		1,937
Net gains (losses) on disposition of fixed assets		2,214			(328	)		2,542
Losses on impairment of fixed assets		(6,033	)		(5,404	)		(628	)
Profits before income taxes		136,700			199,508			(62,808	)
Income taxes-current		37,459			55,066			(17,606	)
Income taxes-deferred		1,712			3,845			(2,132	)
Total taxes		39,172			58,912			(19,739	)
Profits		97,527			140,596			(43,068	)
Profits attributable to non-controlling interests		571			524			46

Profits attributable to owners of parent		96,956			140,072			(43,115	)


Note:
* Net operating profits = Net operating profits of TB + 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

(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		76			(52	)		128

Number of consolidated subsidiaries		109			105			4
Number of affiliated companies accounted for under the equity method		5			4			1
TB Consolidated (combined operating results of TB and transferred entities to MUAH in the United States) TB transferred the interests in its subsidiaries in the United States to MUAH in United States which are owned by BK and MUFG. The combined operating results of TB and transferred entities are as follows (the operating results of transferred entities are prepared for managerial accounting purpose):

Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		134,546			152,632			(18,085	)
Profits attributable to owners of parent		98,679			141,988			(43,309	)
Number of the entities transferred to MUAH		4			4			—

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated


	(in millions of yen)
	For the fiscal year ended						Increase
	March 31, 2024 (A)			March 31, 2023 (B)			(Decrease) (A) - (B)
Gross profits		282,289			306,476			(24,186	)
Gross profits before credit costs for trust accounts		282,284			306,476			(24,191	)
Domestic gross profits		283,186			286,614			(3,427	)
Trust fees		120,757			111,924			8,833
Trust fees before credit costs for trust accounts		120,753			111,924			8,828
Money trusts fees (Jointly operated designated money trusts before credit costs for trust account)		16,537			15,035			1,501
Other trust fees		104,216			96,889			7,326
Credit costs for trust accounts (1)		4			—			4
Net interest income		55,558			59,499			(3,940	)
Net fees and commissions		106,909			104,638			2,271
Net trading profits		(9,637	)		(12,252	)		2,615
Net other operating profits		9,596			22,803			(13,206	)
Net gains (losses) on debt securities		(13,191	)		(4,339	)		(8,851	)
Non-domestic gross profits		(896	)		19,862			(20,759	)
Net interest income		65,538			311,406			(245,868	)
Net fees and commissions		2,002			967			1,034
Net trading profits		(4,222	)		(9,910	)		5,687
Net other operating profits		(64,214	)		(282,601	)		218,386
Net gains (losses) on debt securities		(60,813	)		(287,291	)		226,478
General and administrative expenses		211,795			197,317			14,477
Personnel expenses		69,901			63,182			6,719
Non-personnel expenses		133,715			125,465			8,249
Taxes		8,178			8,670			(491	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		70,489			109,158			(38,669	)
Provision for general allowance for credit losses (2)		—			(40	)		40
Net operating profits		70,493			109,118			(38,624	)
Net non-recurring gains (losses)		10,089			62,020			(51,930	)
Credit costs (3)		(255	)		(189	)		(65	)
Reversal of allowance for credit losses (4)		85			—			85
Reversal of reserve for contingent losses included in credit costs (5)		—			—			—
Gains on loans written-off (6)		1			0			0
Net gains (losses) on equity securities		77,330			61,819			15,511
Gains on sales of equity securities		81,950			65,912			16,038
Losses on sales of equity securities		(2,120	)		(1,899	)		(221	)
Losses on write-down of equity securities		(2,499	)		(2,193	)		(306	)
Other non-recurring gains (losses)		(67,071	)		390			(67,462	)

Ordinary profits		80,583			171,138			(90,555	)

Net extraordinary gains (losses)		(5,453	)		(5,348	)		(104	)
Net gains (losses) on disposition of fixed assets		354			(385	)		739
Losses on impairment of fixed assets		(5,908	)		(5,081	)		(826	)
Income before income taxes		75,130			165,790			(90,659	)
Income taxes-current		13,599			35,838			(22,238	)
Income taxes-deferred		3,727			5,406			(1,679	)
Total taxes		17,326			41,244			(23,917	)

Net income		57,803			124,545			(66,742	)


(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		(164	)		(229	)		65
Credit costs for trust accounts		4			—			4
Provision for general allowance for credit losses		85			(40	)		125
Provision for special allowance for credit losses		0			(6	)		6
Allowance for credit to specific foreign borrowers		—			—			—
Losses on loans write-offs		(0	)		—			(0	)
Provision for contingent losses included in credit costs		(255	)		(183	)		(71	)
Gains on loans written-off		1			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		144,493			400,790			(256,296	)
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		62,458			152,223			(89,765	)

Mitsubishi UFJ Financial Group, Inc.

2. Average Interest Rate Spread

BK Non-consolidated


	(percentage per annum)
(Domestic business segment)	For the fiscal year ended March 31, 2024 (A)		Increase (Decrease) (A) - (B)			For the fiscal year ended March 31, 2023 (B)
Total average interest rate on interest-earning assets (a)		0.52		0.03			0.49
Average interest rate on loans and bills discounted (b)		0.81		0.05			0.75
Average interest rate on securities		0.52		0.03			0.49
Total average interest rate on interest-bearing liabilities (c)
<including general and administrative expenses>		0.32		(0.00	)		0.32
Average interest rate on deposits and NCD (d)		0.00		0.00			0.00
Average interest rate on other liabilities		0.17		0.06			0.11
Overall interest rate spread (a)-(c)		0.19		0.03			0.16
Interest rate spread (b)-(d)		0.81		0.05			0.75

(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted (e)		0.83		0.05			0.77
Interest rate spread (e)-(d)		0.83		0.05			0.77

TB Non-consolidated
	(percentage per annum)
(Domestic business segment)	For the fiscal year ended March 31, 2024 (A)		Increase (Decrease) (A) - (B)			For the fiscal year ended March 31, 2023 (B)
Total average interest rate on interest-earning assets (a)		0.69		0.03			0.66
Average interest rate on loans and bills discounted (b)		0.56		0.16			0.39
Average interest rate on securities		2.66		0.35			2.31
Total average interest rate on interest-bearing liabilities (c)		0.20		0.04			0.16
Average interest rate on deposits and NCD (d)		0.02		0.00			0.01
Overall interest rate spread (a)-(c)		0.49		(0.00	)		0.50
Interest rate spread (b)-(d)		0.54		0.16			0.37

(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted (e)		0.72		(0.02	)		0.75
Interest rate spread (e)-(d)		0.69		(0.03	)		0.73

(Reference)
BK and TB Combined
	(percentage per annum)
(Domestic business segment)	For the fiscal year ended March 31, 2024 (A)		Increase (Decrease) (A) - (B)			For the fiscal year ended March 31, 2023 (B)
Average interest rate on loans and bills discounted (a)		0.80		0.06			0.74
Average interest rate on deposits and NCD (b)		0.00		0.00			0.00
Interest rate spread (a)-(b)		0.80		0.05			0.74

(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted (c)		0.83		0.05			0.77
Interest rate spread (c)-(b)		0.82		0.05			0.77

Mitsubishi UFJ Financial Group, Inc.

3. Notional Principal by the Remaining Life of the Interest Rate Swaps for Hedge-Accounting

MUFG Consolidated


	(in billions of yen)
	As of March 31, 2024
	within 1 year		1 year to 5 years		over 5 years		Total
Receive-fix/pay-floater		3,836.9		27,047.4		10,212.0		41,096.4
Receive-floater/pay-fix		1,415.2		1,795.8		4,789.8		8,000.9
Receive-floater/pay-floater		—		—		—		—
Receive-fix/pay-fix		—		—		—		—

Total		5,252.2		28,843.3		15,001.8		49,097.4

BK Consolidated
	(in billions of yen)
	As of March 31, 2024
	within 1 year		1 year to 5 years		over 5 years		Total
Receive-fix/pay-floater		3,540.2		26,049.4		10,038.5		39,628.1
Receive-floater/pay-fix		1,188.7		321.7		3,536.1		5,046.6
Receive-floater/pay-floater		—		—		—		—
Receive-fix/pay-fix		—		—		—		—

Total		4,728.9		26,371.1		13,574.6		44,674.7

TB Consolidated
	(in billions of yen)
	As of March 31, 2024
	within 1 year		1 year to 5 years		over 5 years		Total
Receive-fix/pay-floater		296.7		843.1		142.3		1,282.2
Receive-floater/pay-fix		216.4		1,395.9		1,215.0		2,827.5
Receive-floater/pay-floater		—		—		—		—
Receive-fix/pay-fix		—		—		—		—

Total		513.1		2,239.1		1,357.3		4,109.7

Mitsubishi UFJ Financial Group, Inc.

4. 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”.

Fair Value Information on Securities


	(in millions of yen)
	As of March 31, 2024									As of March 31, 2023
	Amount on consolidated balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on consolidated balance sheet		Unrealized gains (losses)			Gains		Losses
Debt securities being held to maturity		24,843,961		(286,447	)		13,719		300,167		21,520,080		(133,925	)		49,237		183,163
Domestic bonds		17,310,411		(107,223	)		6,886		114,109		15,052,012		8,012			35,612		27,599
Government bonds		14,643,055		(90,759	)		4,592		95,351		13,513,972		12,778			32,129		19,351
Municipal bonds		1,999,181		(14,279	)		2,047		16,327		1,144,825		(5,334	)		2,473		7,808
Short-term corporate bonds		—		—			—		—		—		—			—		—
Corporate bonds		668,174		(2,184	)		245		2,430		393,214		568			1,009		440
Other		7,533,549		(179,224	)		6,832		186,057		6,468,068		(141,938	)		13,625		155,563
Foreign bonds		4,952,083		(176,384	)		3,151		179,536		3,913,345		(92,148	)		13,606		105,754
Other		2,581,465		(2,839	)		3,681		6,520		2,554,723		(49,790	)		18		49,809

	(in millions of yen)
	As of March 31, 2024									As of March 31, 2023
	Amount on consolidated balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on consolidated balance sheet		Unrealized gains (losses)			Gains		Losses
Available-for-sale securities		61,736,341		2,725,841			4,178,443		1,452,602		65,121,075		1,420,165			3,056,638		1,636,472
Domestic equity securities		5,101,691		3,758,884			3,765,175		6,291		4,271,923		2,720,728			2,745,235		24,506
Domestic bonds		25,074,644		(129,949	)		9,488		139,438		29,751,905		(120,020	)		22,256		142,277
Government bonds		21,365,241		(70,791	)		3,631		74,423		23,518,832		(86,365	)		9,112		95,477
Municipal bonds		1,045,990		(9,573	)		226		9,799		2,759,940		(13,808	)		2,062		15,871
Short-term corporate bonds		—		—			—		—		—		—			—		—
Corporate bonds		2,663,412		(49,584	)		5,630		55,215		3,473,132		(19,846	)		11,081		30,928
Other		31,560,005		(903,093	)		403,779		1,306,872		31,097,247		(1,180,541	)		289,146		1,469,688
Foreign equity securities		709,565		12,752			47,829		35,076		408,377		(65,604	)		23,090		88,695
Foreign bonds		20,990,483		(997,307	)		69,045		1,066,353		21,710,161		(1,116,208	)		61,205		1,177,413
Other		9,859,956		81,461			286,904		205,442		8,978,707		1,271			204,850		203,579
Redemption schedule of Available-for-sale securities with maturities and debt securities being held to maturity
	(in millions of yen)
	As of March 31, 2024									As of March 31, 2023
	within 1 year		1 year to 5 years			5 years to 10 years		over 10 years		within 1 year		1 year to 5 years			5 years to 10 years		over 10 years
Domestic bonds		23,237,264		11,328,117			6,018,587		1,801,087		21,506,334		14,905,051			5,983,826		2,408,704
Government bonds		22,398,893		8,721,368			4,279,478		608,555		20,839,280		11,024,384			4,063,028		1,106,111
Municipal bonds		343,811		1,317,183			1,384,177		—		294,616		2,076,089			1,534,060		—
Short-term corporate bonds		—		—			—		—		—		—			—		—
Corporate bonds		494,559		1,289,564			354,931		1,192,532		372,438		1,804,578			386,737		1,302,593
Other		4,976,257		11,792,107			5,810,612		12,124,762		4,583,721		12,560,637			6,276,327		10,762,201
Foreign equity securities		12,113		20,079			—		—		6,690		27,734			—		—
Foreign bonds		3,741,605		8,640,847			3,955,393		9,604,622		3,759,532		9,126,577			4,383,117		8,354,116
Other		1,222,537		3,131,181			1,855,218		2,520,139		818,601		3,411,810			1,928,496		2,408,084
Total		28,213,521		23,120,225			11,829,199		13,925,850		26,091,159		27,471,175			12,295,440		13,170,906

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”.

Fair Value Information on Securities


	(in millions of yen)
	As of March 31, 2024									As of March 31, 2023
	Amount on balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on balance sheet		Unrealized gains (losses)			Gains		Losses
Debt securities being held to maturity		22,209,137		(260,977	)		10,038		271,015		19,047,385		(78,497	)		49,199		127,696
Stocks of subsidiaries and affiliates		685,292		563,814			572,794		8,979		610,147		482,330			482,914		584

	(in millions of yen)
	As of March 31, 2024									As of March 31, 2023
	Amount on balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on balance sheet		Unrealized gains (losses)			Gains		Losses
Available-for-sale securities		45,454,390		2,491,997			3,340,687		848,693		50,631,570		1,276,158			2,374,166		1,098,007
Domestic equity securities		4,310,320		3,134,194			3,138,838		4,643		3,566,081		2,212,225			2,232,823		20,598
Domestic bonds		23,310,014		(71,482	)		7,994		79,477		28,013,980		(79,159	)		21,133		100,292
Other		17,834,055		(570,714	)		193,854		764,571		19,051,508		(856,907	)		120,209		977,117
Foreign equity securities		669,182		1,235			36,309		35,076		367,745		(73,953	)		15,072		89,026
Foreign bonds		10,234,364		(554,058	)		43,155		597,214		12,565,104		(672,998	)		48,517		721,516
Other		6,930,507		(17,891	)		114,390		132,281		6,118,658		(109,954	)		56,619		166,573
Redemption schedule of Available-for-sale securities with maturities and debt securities being held to maturity
	(in millions of yen)
	As of March 31, 2024									As of March 31, 2023
	within 1 year		1 year to 5 years			5 years to 10 years		over 10 years		within 1 year		1 year to 5 years			5 years to 10 years		over 10 years
Domestic bonds		23,194,822		10,452,409			5,689,499		1,283,696		21,479,460		14,127,226			5,612,956		1,846,349
Government bonds		22,382,849		8,019,918			4,045,541		207,081		20,827,187		10,418,215			3,819,123		670,500
Municipal bonds		342,305		1,218,778			1,291,205		—		292,101		2,002,924			1,413,467		—
Short-term corporate bonds		—		—			—		—		—		—			—		—
Corporate bonds		469,666		1,213,712			352,752		1,076,614		360,171		1,706,086			380,365		1,175,849
Other		3,543,953		6,204,463			2,326,644		8,099,827		2,668,272		9,065,937			2,182,686		7,468,702
Foreign equity securities		12,113		20,079			—		—		6,690		27,734			—		—
Foreign bonds		2,695,045		3,350,904			1,869,018		6,839,540		2,180,275		5,989,003			1,525,102		6,370,025
Other		836,793		2,833,480			457,625		1,260,286		481,305		3,049,198			657,584		1,098,677
Total		26,738,775		16,656,873			8,016,143		9,383,523		24,147,732		23,193,164			7,795,642		9,315,052

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

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

Fair Value Information on Securities


	(in millions of yen)
	As of March 31, 2024									As of March 31, 2023
	Amount on balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on balance sheet		Unrealized gains (losses)			Gains		Losses
Debt securities being held to maturity		2,634,823		(25,470	)		3,681		29,151		2,472,695		(55,428	)		38		55,466
Stocks of subsidiaries and affiliates		15,136		(1,477	)		—		1,477		11,636		(758	)		—		758

	(in millions of yen)
	As of March 31, 2024									As of March 31, 2023
	Amount on balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on balance sheet		Unrealized gains (losses)			Gains		Losses
Available-for-sale securities		12,453,511		348,078			806,876		458,797		10,871,284		208,580			626,109		417,529
Domestic equity securities		858,572		619,081			619,850		769		745,387		467,925			472,431		4,506
Domestic bonds		1,746,579		(58,581	)		1,493		60,074		1,705,587		(40,984	)		1,114		42,098
Other		9,848,360		(212,421	)		185,532		397,953		8,420,308		(218,360	)		152,563		370,923
Foreign equity securities		126		77			77		—		81		63			63		—
Foreign bonds		7,819,817		(306,146	)		20,037		326,183		6,367,896		(334,590	)		9,436		344,026
Other		2,028,416		93,647			165,417		71,769		2,052,330		116,165			143,062		26,897
Redemption schedule of Available-for-sale securities with maturities and debt securities being held to maturity
	(in millions of yen)
	As of March 31, 2024									As of March 31, 2023
	within 1 year		1 year to 5 years			5 years to 10 years		over 10 years		within 1 year		1 year to 5 years			5 years to 10 years		over 10 years
Domestic bonds		26,386		873,712			329,088		517,391		14,781		759,692			368,758		562,355
Government bonds		—		699,455			233,937		401,473		—		588,036			243,905		435,611
Municipal bonds		1,505		98,405			92,972		—		2,515		73,164			120,593		—
Short-term corporate bonds		—		—			—		—		—		—			—		—
Corporate bonds		24,880		75,851			2,179		115,917		12,266		98,491			4,260		126,743
Other		248,926		3,702,030			2,851,138		4,019,724		1,039,868		1,450,370			3,517,807		3,293,498
Foreign equity securities		—		—			—		—		—		—			—		—
Foreign bonds		242,784		3,445,064			2,767,252		3,999,539		1,006,548		1,268,451			3,424,962		3,140,629
Other		6,142		256,966			83,886		20,184		33,320		181,918			92,844		152,868
Total		275,312		4,575,742			3,180,227		4,537,116		1,054,649		2,210,062			3,886,565		3,855,853

Mitsubishi UFJ Financial Group, Inc.

5. ROE

MUFG Consolidated


	(%)
	For the fiscal year ended March 31, 2024 (A)		Increase (Decrease) (A) - (B)		For the fiscal year ended March 31, 2023 (B)
ROE (MUFG basis) *1		8.59		1.55		7.03
ROE (JPX basis) *2		8.10		1.58		6.52

Note:

ROE (MUFG basis) is computed as follows:



Profits attributable to owners of parent	×	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.

6. Risk-Adjusted Capital Ratio

MUFG Consolidated


	(in billions of yen)									(in billions of yen)
	As of March 31, 2024 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)			As of September 30, 2023
(1) Total capital ratio (4)/(7)		17.82	%		3.91	%		13.91	%		14.02	%
(2) Tier 1 capital ratio (5)/(7)		15.72	%		3.67	%		12.04	%		12.13	%
(3) Common Equity Tier 1 capital ratio (6)/(7)		13.53	%		2.76	%		10.76	%		10.61	%
(4) Total capital		19,817.8			2,651.7			17,166.1			18,734.8
(5) Tier 1 capital		17,479.7			2,616.0			14,863.7			16,212.7
(6) Common Equity Tier 1 capital		15,041.3			1,760.4			13,280.8			14,176.5
(7) Risk weighted assets		111,160.1			(12,203.2	)		123,363.3			133,561.4
(8) Required Capital (7)×8%		8,892.8			(976.2	)		9,869.0			10,684.9

BK Consolidated
	(in billions of yen)									(in billions of yen)
	As of March 31, 2024 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)			As of September 30, 2023
(1) Total capital ratio (4)/(7)		18.11	%		5.53	%		12.58	%		12.70	%
(2) Tier 1 capital ratio (5)/(7)		16.11	%		5.06	%		11.04	%		11.17	%
(3) Common Equity Tier 1 capital ratio (6)/(7)		13.80	%		3.90	%		9.89	%		9.78	%
(4) Total capital		15,915.0			1,707.2			14,207.8			15,609.5
(5) Tier 1 capital		14,153.6			1,684.3			12,469.2			13,729.1
(6) Common Equity Tier 1 capital		12,126.4			954.2			11,172.1			12,029.5
(7) Risk weighted assets		87,833.0			(25,037.4	)		112,870.4			122,878.2
(8) Required Capital (7)×8%		7,026.6			(2,002.9	)		9,029.6			9,830.2

TB Consolidated
	(in billions of yen)									(in billions of yen)
	As of March 31, 2024 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)			As of September 30, 2023
(1) Total capital ratio (4)/(7)		20.42	%		(0.24	)%		20.67	%		19.89	%
(2) Tier 1 capital ratio (5)/(7)		17.83	%		(0.10	)%		17.93	%		17.27	%
(3) Common Equity Tier 1 capital ratio (6)/(7)		15.56	%		(0.85	)%		16.41	%		15.50	%
(4) Total capital		2,121.6			80.1			2,041.5			2,174.4
(5) Tier 1 capital		1,852.1			81.2			1,770.9			1,888.6
(6) Common Equity Tier 1 capital		1,616.4			(4.4	)		1,620.8			1,694.5
(7) Risk weighted assets		10,387.4			512.1			9,875.3			10,930.8
(8) Required Capital (7)×8%		830.9			40.9			790.0			874.4

BK Non-consolidated
	(in billions of yen)									(in billions of yen)
	As of March 31, 2024 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)			As of September 30, 2023
(1) Total capital ratio (4)/(7)		16.29	%		5.57	%		10.71	%		10.68	%
(2) Tier 1 capital ratio (5)/(7)		14.38	%		5.08	%		9.30	%		9.25	%
(3) Common Equity Tier 1 capital ratio (6)/(7)		11.77	%		3.66	%		8.11	%		7.80	%
(4) Total capital		12,279.1			1,163.8			11,115.3			12,108.8
(5) Tier 1 capital		10,839.0			1,194.9			9,644.1			10,489.5
(6) Common Equity Tier 1 capital		8,872.4			462.1			8,410.2			8,844.5
(7) Risk weighted assets		75,363.3			(28,324.4	)		103,687.7			113,281.9
(8) Required Capital (7)×8%		6,029.0			(2,265.9	)		8,295.0			9,062.5

TB Non-consolidated
	(in billions of yen)									(in billions of yen)
	As of March 31, 2024 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)			As of September 30, 2023
(1) Total capital ratio (4)/(7)		19.03	%		(0.56	)%		19.60	%		18.61	%
(2) Tier 1 capital ratio (5)/(7)		16.72	%		(0.39	)%		17.11	%		16.21	%
(3) Common Equity Tier 1 capital ratio (6)/(7)		14.71	%		(1.03	)%		15.74	%		14.58	%
(4) Total capital		2,209.6			78.6			2,131.0			2,210.1
(5) Tier 1 capital		1,941.1			79.9			1,861.1			1,925.2
(6) Common Equity Tier 1 capital		1,707.6			(4.0	)		1,711.6			1,731.7
(7) Risk weighted assets		11,605.9			734.7			10,871.2			11,873.8
(8) Required Capital (7)×8%		928.4			58.7			869.6			949.9

Note:

Risk-adjusted capital ratio of MUFG is computed in accordance with the Notification of the Financial Services Agency No.20, 2006.

Risk-adjusted capital ratio of BK and TB are computed in accordance with the Notification of the Financial Services Agency No.19, 2006.

Mitsubishi UFJ Financial Group, Inc.

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

MUFG Consolidated

(1) Loans to Be Disclosed under the Banking Act and the FRA (after write-offs)


								(in millions of yen)
								As of March 31, 2024			As of March 31, 2023			Increase (Decrease)
Bankrupt or De facto Bankrupt									239,004			198,312			40,692
Doubtful									1,134,503			746,207			388,296
Special Attention									634,023			618,892			15,131
Accruing loans contractually past due 3 months or more									26,869			23,679			3,189
Restructured loans									607,154			595,212			11,942
Subtotal (A)									2,007,531			1,563,411			444,120

Normal(B)									130,602,373			121,766,210			8,836,163
Total loans (C=A+B)									132,609,905			123,329,622			9,280,283

Non-performing loans ratio (A)/(C)									1.51	%		1.26	%		0.24	%

Write-offs									217,701			216,625			1,075

(2) Allowance for Credit Losses

	(in millions of yen)
	As of March 31, 2024		Coverage ratio (D)/(A)			As of March 31, 2023		Coverage ratio (D)/(A)			Increase (Decrease)			Coverage ratio (D)/(A)
Allowance for credit losses (D)		1,535,253		76.47	%		1,245,727		79.68	%		289,526			(3.20	)%
General allowance for credit losses		848,536					799,536					49,000
Specific allowance for credit losses		665,305					414,026					251,279
Allowance for credit to specific foreign borrowers		21,412					32,165					(10,752	)

(3) Classification of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)

								(in millions of yen)
Classified by Geographic Area								As of March 31, 2024			As of March 31, 2023			Increase (Decrease)
Domestic									813,702			935,849			(122,147	)
Overseas									1,193,829			627,561			566,268
Asia									420,715			370,222			50,492
Indonesia									50,117			40,496			9,620
Singapore									12,752			25,067			(12,314	)
Thailand									280,757			231,386			49,370
Other									77,088			73,272			3,816
Americas									601,518			102,130			499,388
Europe, Middle East and Other									171,595			155,209			16,386
Total									2,007,531			1,563,411			444,120

								(in millions of yen)
Classified by Industry								As of March 31, 2024			As of March 31, 2023			Increase (Decrease)
Domestic									813,702			935,849			(122,147	)
Manufacturing									283,777			355,468			(71,691	)
Construction									8,226			8,467			(241	)
Wholesale and retail									87,732			90,725			(2,992	)
Finance and insurance									14,109			8,119			5,990
Real estate, goods rental and leasing									37,388			36,097			1,291
Services									80,749			99,295			(18,545	)
Other industries									48,708			77,598			(28,889	)
Consumer									253,008			260,078			(7,069	)
Overseas									1,193,829			627,561			566,268
Financial institutions									3,104			2,601			502
Commercial and industrial									1,021,074			502,318			518,755
Other									169,650			122,640			47,009
Total									2,007,531			1,563,411			444,120

Mitsubishi UFJ Financial Group, Inc.

BK and TB Combined including Trust Account

“Trust account” represents trust account with contracts indemnifying the principal amounts.

(1) Loans to Be Disclosed under the Banking Act and the FRA (after write-offs)


									(in millions of yen)
									As of March 31, 2024			As of March 31, 2023			Increase (Decrease)
Bankrupt or De facto Bankrupt										77,265			74,448			2,817
Doubtful										904,052			546,567			357,484
Special Attention										478,331			464,199			14,131
Accruing loans contractually past due 3 months or more										19,163			17,167			1,996
Restructured loans										459,167			447,032			12,135
Subtotal (A)										1,459,649			1,085,215			374,433

Normal(B)										116,726,530			109,665,679			7,060,850
Total loans (C=A+B)										118,186,179			110,750,895			7,435,283

Non-performing loans ratio (A)/(C)										1.23	%		0.97	%		0.25	%

Write-offs										181,926			182,181			(254	)

(2) Status of Coverage of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)

	(in millions of yen)
	As of March 31, 2024		Coverage ratio [(D)+(E)]/(A)			As of March 31, 2023			Coverage ratio [(D)+(E)]/(A)			Increase (Decrease)			Coverage ratio [(D)+(E)]/(A)
Covered amount		1,042,471		71.41	%		805,937			74.26	%		236,534			(2.84	)%
Allowance for credit losses(D)		609,945					333,135						276,809
Collateral, guarantees, etc.(E)		432,525					472,801						(40,275	)

(3) Coverage Ratio

			(in millions of yen)
Category			Loan amount (A)			Allowance for credit losses (D)			Covered by collateral and/ or guarantees (E)			Allowance coverage ratio for unsecured portion (D) / [(A) - (E)]			Coverage ratio [(D)+(E)]/(A)
Bankrupt or De facto Bankrupt				77,265			5,358			71,907						100.00	%
				[74,448	]		[5,000	]		[69,448	]					[100.00	%]
Doubtful				904,052			441,031			161,324						66.62	%
				[546,567	]		[224,271	]		[215,061	]					[80.38	%]
Special Attention				478,331			163,555			199,294						75.85	%
				[464,199	]		[103,864	]		[188,292	]					[62.93	%]
Total				1,459,649			609,945			432,525						71.41	%
				[1,085,215	]		[333,135	]		[472,801	]					[74.26	%]

Note: The upper figures are as of March 31, 2024. The lower figures with brackets are as of March 31, 2023. (4) Classification of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)

									(in millions of yen)
Classified by Geographic Area									As of March 31, 2024			As of March 31, 2023			Increase (Decrease)
Domestic										621,995			750,949			(128,954	)
Overseas										837,654			334,266			503,388
Asia										89,421			97,915			(8,493	)
Indonesia										—			—			—
Singapore										12,752			25,067			(12,314	)
Thailand										—			—			—
Other										76,669			72,847			3,821
Americas										601,518			102,130			499,388
Europe, Middle East and Other										146,713			134,220			12,492
Total										1,459,649			1,085,215			374,433

									(in millions of yen)
Classified by Industry									As of March 31, 2024			As of March 31, 2023			Increase (Decrease)
Domestic										621,995			750,949			(128,954	)
Manufacturing										282,469			354,298			(71,828	)
Construction										8,050			8,326			(275	)
Wholesale and retail										85,689			88,785			(3,096	)
Finance and insurance										14,088			8,097			5,990
Real estate										22,960			22,638			321
Goods rental and leasing										14,393			13,438			954
Services										80,619			99,205			(18,586	)
Other industries										47,998			77,283			(29,284	)
Consumer										65,724			78,875			(13,150	)
Overseas										837,654			334,266			503,388
Financial institutions										2,611			2,331			280
Commercial and industrial										834,942			325,729			509,213
Other										99			6,204			(6,105	)
Total										1,459,649			1,085,215			374,433

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(1) Loans to Be Disclosed under the Banking Act and the FRA (after write-offs)


								(in millions of yen)
								As of March 31, 2024			As of March 31, 2023			Increase (Decrease)
Bankrupt or De facto Bankrupt									77,210			74,313			2,896
Doubtful									902,706			544,648			358,058
Special Attention									478,331			464,199			14,131
Accruing loans contractually past due 3 months or more									19,163			17,167			1,996
Restructured loans									459,167			447,032			12,135
Subtotal (A)									1,458,248			1,083,162			375,086

Normal(B)									114,178,105			107,103,161			7,074,943
Total loans (C=A+B)									115,636,353			108,186,323			7,450,030

Non-performing loans ratio (A)/(C)									1.26	%		1.00	%		0.25	%

Write-offs									181,894			182,148			(254	)

(2) Status of Coverage of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)

	(in millions of yen)
	As of March 31, 2024		Coverage ratio [(D)+(E)]/(A)			As of March 31, 2023		Coverage ratio [(D)+(E)]/(A)			Increase (Decrease)			Coverage ratio [(D)+(E)]/(A)
Covered amount		1,041,070		71.39	%		803,883		74.21	%		237,187			(2.82	)%
Allowance for credit losses(D)		609,945					333,135					276,809
Collateral, guarantees, etc.(E)		431,124					470,747					(39,622	)

(3) Coverage Ratio

(in millions of yen)

Category

Loan amount
(A)

Allowance for
credit losses
(D)

Covered by
collateral and/or
guarantees (E)

Allowance coverage
ratio for unsecured
portion
(D) / [(A) - (E)]

Coverage ratio
[(D)+(E)]/(A)

Bankrupt or De facto Bankrupt

—

[—

]

[—

]

[—

]

[—

]

[—

]

Doubtful

—

[—

]

[—

]

[—

]

[—

]

[—

]

Special Attention

—

[—

]

[—

]

[—

]

[—

]

[—

]

Total

—

[—

]

[—

]

[—

]

[—

]

[—

]

Note: The upper figures are as of March 31, 2024. The lower figures with brackets are as of March 31, 2023.

(4) Classification of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)

(in millions of yen)

Classified by Industry

As of
March 31, 2024

As of
March 31, 2023

Increase
(Decrease)

Domestic

—

Manufacturing

—

Construction

—

Wholesale and retail

—

Finance and insurance

—

Real estate

—

Goods rental and leasing

—

Services

—

Other industries

—

Consumer

—

Total

—

Mitsubishi UFJ Financial Group, Inc.

Overview of Self-Assessment, Status of Coverage, and Loans to Be Disclosed under the Banking Act and the FRA

BK and TB Combined

LOGO

(*)	“Customers’ liabilities for acceptances and guarantees” in Classification IV are fully reserved.

Mitsubishi UFJ Financial Group, Inc.

8. Progress in Disposition of Problem Assets

BK Non-consolidated

(1) Bankrupt or De facto Bankrupt and Doubtful Assets Based on the “FRA”


	(in millions of yen)
	As of March 31, 2021		As of March 31, 2022		As of March 31, 2023 (A)		As of March 31, 2024 (B)		(B) - (A)
Assets newly categorized during fiscal 2020		274,842		182,845		135,476		55,413		(80,063	)
Assets newly categorized during fiscal 2021				321,978		110,451		68,032		(42,419	)
Assets newly categorized during fiscal 2022						240,324		114,818		(125,505	)
Assets newly categorized during fiscal 2023								642,712

(2) Progress in Disposition of Problem Assets


	(in millions of yen)
	For the Fiscal Year Ended March 31, 2024
			Bankrupt or De facto Bankrupt		Doubtful
Liquidation		4,565
Reconstructive treatment		26,811
Upgrade due to reconstructive treatment		—
Loan sold to secondary market		3,202
Write-offs		29,129
Others		218,047
Collection / Repayment		63,471
Upgrade		154,575

Total		281,757		38,463		243,293

Amount in process for disposition		60,722

Note:

The process for disposition consists of legal liquidation, quasi-legal liquidation, company splits to good companies and bad companies, partial direct write-offs of retail exposure to individuals and small/medium-sized companies, and trusts to The Resolution and Collection Corporation mainly for the purpose of revitalization of companies, which are scheduled to be off-balanced before their maturities.

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated including Trust Account

“Trust account” represents trust account with contracts indemnifying the principal amounts.

(1) Bankrupt or De facto Bankrupt and Doubtful Assets Based on the “FRA”


	(in millions of yen)
	As of March 31, 2021		As of March 31, 2022		As of March 31, 2023 (A)		As of March 31, 2024 (B)		(B) - (A)
Assets newly categorized during fiscal 2020		706		272		124		92		(32	)
Assets newly categorized during fiscal 2021				635		272		204		(68	)
Assets newly categorized during fiscal 2022						986		262		(724	)
Assets newly categorized during fiscal 2023								410

(2) Progress in Disposition of Problem Assets


	(in millions of yen)
	For the Fiscal Year Ended March 31, 2024
			Bankrupt or De facto Bankrupt		Doubtful
Liquidation		—
Reconstructive treatment		—
Upgrade due to reconstructive treatment		—
Loan sold to secondary market		—
Write-offs		—
Others		1,700
Collection / Repayment		171
Upgrade		1,528

Total		1,700		110		1,590

Amount in process for disposition		82

Note:

Mitsubishi UFJ Financial Group, Inc.

9. Loans Classified by Type of Industry

BK and TB Combined including Trust Accounts

Loans Classified by Type of Industry


	(in millions of yen)
	As of March 31, 2024 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Domestic offices (excluding loans booked at offshore markets)		71,342,802		1,934,308			69,408,494

Manufacturing		11,600,570		(68,837	)		11,669,407
Agriculture, forestry, fishery, mining, quarrying of stone and gravel		93,187		(73,317	)		166,504
Construction		927,249		94,429			832,820
Utilities		2,654,904		133,894			2,521,010
Communication and information services		1,250,823		153,917			1,096,905
Transport and postal activities		2,185,557		(124,575	)		2,310,132
Wholesale and retail		6,541,625		45,525			6,496,100
Finance and insurance		9,555,080		509,920			9,045,159
Real estate		10,777,110		685,655			10,091,455
Goods rental and leasing		2,596,865		23,369			2,573,496
Services		2,735,505		61,764			2,673,741
Municipal government		1,542,281		83,296			1,458,985
Other industries (including loans to the Japanese government)		18,882,044		409,265			18,472,778
Overseas offices and loans booked at offshore markets		35,892,376		4,623,144			31,269,232
Governments		314,663		21,493			293,170
Financial Institutions		13,507,038		2,487,590			11,019,448
Other		22,070,674		2,114,061			19,956,613

Total		107,235,179		6,557,452			100,677,726

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

Loans Classified by Type of Industry


	(in millions of yen)
	As of March 31, 2024 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Domestic offices (excluding loans booked at offshore markets)		68,651,467		1,987,481			66,663,986

Manufacturing		11,599,170		(68,837	)		11,668,007
Agriculture, forestry, fishery, mining, quarrying of stone and gravel		93,187		(73,317	)		166,504
Construction		927,249		94,429			832,820
Utilities		2,654,904		133,894			2,521,010
Communication and information services		1,241,789		157,911			1,083,878
Transport and postal activities		2,170,557		(124,575	)		2,295,132
Wholesale and retail		6,541,625		45,525			6,496,100
Finance and insurance		8,096,830		371,804			7,725,026
Real estate		10,747,746		686,032			10,061,714
Goods rental and leasing		2,596,865		23,369			2,573,496
Services		2,734,980		61,973			2,673,007
Municipal government		1,542,020		83,326			1,458,694
Other industries (including loans to the Japanese government)		17,704,545		595,947			17,108,598
Overseas offices and loans booked at offshore markets		34,793,516		4,329,753			30,463,763
Governments		314,663		21,493			293,170
Financial Institutions		12,408,212		2,194,208			10,214,003
Other		22,070,640		2,114,051			19,956,588

Total		103,444,984		6,317,234			97,127,749

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

Loans Classified by Type of Industry


	(in millions of yen)
	As of March 31, 2024 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Domestic offices (excluding loans booked at offshore markets)		1,121,366		(345,267	)		1,466,633

Manufacturing		—		—			—
Agriculture, forestry, fishery, mining, quarrying of stone and gravel		—		—			—
Construction		—		—			—
Utilities		—		—			—
Communication and information services		9,034		(3,993	)		13,027
Transport and postal activities		—		—			—
Wholesale and retail		—		—			—
Finance and insurance		207,951		(184,423	)		392,374
Real estate		3,529		(62	)		3,591
Goods rental and leasing		—		—			—
Services		525		(208	)		734
Municipal government		—		—			—
Other industries (including loans to the Japanese government)		900,326		(156,579	)		1,056,905
Overseas offices and loans booked at offshore markets		1,098,859		293,390			805,468
Governments		—		—			—
Financial Institutions		1,098,826		293,381			805,444
Other		33		9			24

Total		2,220,225		(51,876	)		2,272,102

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated: Trust Accounts

Loans Classified by Type of Industry


	(in millions of yen)
	As of March 31, 2024 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Domestic offices (excluding loans booked at offshore markets)		1,569,969		292,094			1,277,875

Manufacturing		1,400		—			1,400
Agriculture, forestry, fishery, mining, quarrying of stone and gravel		—		—			—
Construction		—		—			—
Utilities		—		—			—
Communication and information services		—		—			—
Transport and postal activities		15,000		—			15,000
Wholesale and retail		—		—			—
Finance and insurance		1,250,299		322,539			927,759
Real estate		25,835		(313	)		26,149
Goods rental and leasing		—		—			—
Services		—		—			—
Municipal government		261		(29	)		291
Other industries (including loans to the Japanese government)		277,173		(30,101	)		307,275
Overseas offices and loans booked at offshore markets		—		—			—
Governments		—		—			—
Financial Institutions		—		—			—
Other		—		—			—

Total		1,569,969		292,094			1,277,875

Mitsubishi UFJ Financial Group, Inc.

10 Domestic Consumer Loans, Domestic Loans to Small/Medium-Sized Companies and Proprietors

BK and TB Combined including Trust Accounts

(1)	Domestic Consumer Loans


	(in millions of yen)
	As of March 31, 2024 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Total domestic consumer loans		14,954,731		(370,182	)		15,324,914
Housing loans		14,236,251		(396,106	)		14,632,358
Residential purpose		12,559,404		(343,551	)		12,902,955
Other		718,480		25,924			692,556

(2)	Domestic Loans to Small/Medium-Sized Companies and Proprietors


	(in millions of yen)
	As of March 31, 2024 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Outstanding amount		41,020,108			701,705			40,318,403
% to total domestic loans		57.49	%		(0.59	)%		58.08	%

BK Non-consolidated

(1) Domestic Consumer Loans


	(in millions of yen)
	As of March 31, 2024 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Total domestic consumer loans		14,315,262		(294,078	)		14,609,341
Housing loans		13,597,362		(320,319	)		13,917,682
Residential purpose		11,920,862		(267,821	)		12,188,683
Other		717,899		26,241			691,658

(2) Domestic Loans to Small/Medium-Sized Companies and Proprietors


	(in millions of yen)
	As of March 31, 2024 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Outstanding amount		39,981,453			849,743			39,131,710
% to total domestic loans		58.23	%		(0.46	)%		58.69	%

TB Non-consolidated

(1) Domestic Consumer Loans


	(in millions of yen)
	As of March 31, 2024 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Total domestic consumer loans		636,906		(75,633	)		712,539
Housing loans		636,325		(75,316	)		711,642
Residential purpose		635,984		(75,266	)		711,251
Other		580		(317	)		897

(2) Domestic Loans to Small/Medium-Sized Companies and Proprietors


	(in millions of yen)
	As of March 31, 2024 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Outstanding amount		785,824			(123,841	)		909,665
% to total domestic loans		70.07	%		8.05	%		62.02	%

TB Non-consolidated: Trust Accounts

(1) Domestic Consumer Loans


	(in millions of yen)
	As of March 31, 2024 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Total domestic consumer loans		2,563		(470	)		3,033
Housing loans		2,563		(470	)		3,033
Residential purpose		2,557		(462	)		3,020
Other		—		—			—

(2) Domestic Loans to Small/Medium-Sized Companies and Proprietors


	(in millions of yen)
	As of March 31, 2024 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Outstanding amount		252,831			(24,196	)		277,027
% to total domestic loans		16.10	%		(5.57	)%		21.67	%

Mitsubishi UFJ Financial Group, Inc.

11. Overseas Loans

BK Consolidated excl. KS, BDI


	(in millions of yen)
	As of March 31, 2024 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Americas		15,567,526		2,338,859			13,228,667
United States		13,474,068		2,214,653			11,259,415
Canada		749,349		(20,842	)		770,191
Brazil		453,903		6,586			447,316
Mexico		331,932		23,172			308,760
Others		558,272		115,289			442,983
Asia/Oceania		12,101,999		884,253			11,217,745
Hong Kong		2,072,004		18,167			2,053,836
Australia		1,724,953		194,938			1,530,014
China		1,523,829		(79,741	)		1,603,570
Singapore		1,457,176		46,357			1,410,819
India		1,358,270		398,749			959,521
Indonesia		1,108,536		307,488			801,047
Malaysia		741,780		(16,607	)		758,388
Korea		602,093		89,275			512,817
New Zealand		424,736		47,044			377,691
Taiwan		415,172		(139,800	)		554,973
Philippines		275,854		72,271			203,582
Others		397,591		(53,890	)		451,482
EMEA		9,546,849		383,902			9,162,946
United Kingdom		2,009,259		(285,302	)		2,294,561
Netherlands		1,133,891		147,199			986,691
Germany		794,459		(21,984	)		816,444
France		731,430		122,420			609,009
Luxembourg		592,202		(1,244	)		593,447
Ireland		442,328		133,407			308,921
Qatar		254,562		113,009			141,553
Switzerland		234,648		32,335			202,313
Italy		229,058		31,694			197,364
Saudi Arabia		221,374		(59,555	)		280,929
Turkey		203,900		(13,078	)		216,978
Spain		202,333		25,944			176,389
Mauritius		156,852		39,257			117,595
United Arab Emirates		153,111		(76,221	)		229,333
Belgium		145,207		(7,349	)		152,556
Russia		109,794		(31,417	)		141,212
Sweden		107,463		65,457			42,005
Others		1,824,968		169,331			1,655,637

Total		37,216,375		3,607,015			33,609,359

KS and BDI have the following loan balances in the consolidated financial statements.


	(in millions of yen)
	As of March 31, 2024 (A)		Increase (Decrease) (A) - (B)		As of March 31, 2023 (B)
KS		6,336,261		658,448		5,677,812
BDI		1,416,667		334,819		1,081,848

Mitsubishi UFJ Financial Group, Inc.

12. Loans and Deposits

BK and TB Combined


	(in millions of yen)
	As of March 31, 2024 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Deposits (ending balance)		212,813,930		9,465,288			203,348,641
Deposits (average balance)		210,432,802		10,086,470			200,346,332
Loans (ending balance)		105,665,210		6,265,358			99,399,851
Loans (average balance)		106,241,940		6,497,630			99,744,310

BK Non-consolidated

	(in millions of yen)
	As of March 31, 2024 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Deposits (ending balance)		200,064,588		7,792,298			192,272,289
Deposits (average balance)		198,236,443		9,201,655			189,034,788
Loans (ending balance)		103,444,984		6,317,234			97,127,749
Loans (average balance)		103,937,886		6,800,750			97,137,135

TB Non-consolidated

	(in millions of yen)
	As of March 31, 2024 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Deposits (ending balance)		12,749,342		1,672,990			11,076,351
Deposits (average balance)		12,196,358		884,814			11,311,544
Loans (ending balance)		2,220,225		(51,876	)		2,272,102
Loans (average balance)		2,304,054		(303,120	)		2,607,174

Mitsubishi UFJ Financial Group, Inc.

13. Domestic Deposits

BK and TB Combined


	(in millions of yen)
	As of March 31, 2024 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Individuals		92,726,562		1,871,939			90,854,622
Corporations and others		83,551,151		1,405,588			82,145,562
Domestic deposits		176,277,713		3,277,528			173,000,185

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

BK Non-consolidated

	(in millions of yen)
	As of March 31, 2024 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Individuals		86,762,670		2,044,123			84,718,547
Corporations and others		79,083,251		274,403			78,808,847
Domestic deposits		165,845,921		2,318,526			163,527,394

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

TB Non-consolidated

	(in millions of yen)
	As of March 31, 2024 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Individuals		5,963,892		(172,183	)		6,136,075
Corporations and others		4,467,899		1,131,185			3,336,714
Domestic deposits		10,431,792		959,002			9,472,790

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

Mitsubishi UFJ Financial Group, Inc.

14. Status of Deferred Tax Assets

BK Non-consolidated

(1) Tax Effects of the Items Comprising Net Deferred Tax Assets


	(in billions of yen)
	As of March 31, 2024 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Deferred tax assets		1,221.6			165.1			1,056.5
Allowance for credit losses		300.8			54.3			246.5
Write-down on investment securities		357.0			(9.0	)		366.0
Unrealized losses on Available-for-sale securities		133.7			(23.6	)		157.4
Reserve for retirement benefits		75.1			(6.7	)		81.9
Reserve for contingent losses		22.3			0.5			21.8
Depreciation and Impairment losses		85.0			1.5			83.5
Devaluation on land upon merger		20.2			(1.3	)		21.5
Net deferred losses on hedging instruments		360.7			146.6			214.0
Other		250.3			(8.0	)		258.3
Valuation allowance		(384.0	)		10.7			(394.7	)
Deferred tax liabilities		955.6			297.7			657.9
Unrealized gains on Available-for-sale securities		747.9			303.0			444.8
Revaluation gains on securities upon merger		44.4			(2.7	)		47.1
Gains on securities contributed to employees’ retirement benefits trust		42.6			(2.4	)		45.1
Other		120.6			(0.0	)		120.7
Net deferred tax assets		265.9			(132.6	)		398.6

(2) Net operating profits before provision for general allowance for credit losses and Taxable Income


	(in billions of yen)
	FY2018			FY2019			FY2020			FY2021			FY2022			FY2023
Net operating profits before provision for general allowance for credit losses		388.4			395.2			388.0			374.4			690.4			974.6
Total credit costs		128.5			11.8			(223.3	)		(234.0	)		(98.5	)		(244.3	)
Income before income taxes		767.2			(535.9	)		205.5			286.1			1,239.5			994.7
Reconciliation to taxable income		(500.2	)		844.6			98.5			343.3			(453.8	)		(57.6	)
Taxable income		267.0			308.7			304.1			629.5			785.7			937.1

(3) Classification Based on Prior Year Operating Results as Provided in the ASBJ Guidance No.26

We are classified as “2” because we are considered to be a company showing stable financial performance.

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Tax Effects of the Items Comprising Net Deferred Tax Assets


	(in billions of yen)
	As of March 31, 2024 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Deferred tax assets		73.4			7.9			65.4
Gains on securities related to employees’ retirement benefits trust		52.2			16.0			36.2
Depreciation and Impairment losses		10.1			0.4			9.6
Write-down on investment securities		7.7			(0.6	)		8.3
Group tax sharing transactions		6.3			(4.4	)		10.8
Reserve for contingent losses		2.1			(0.8	)		3.0
Other		18.2			(3.7	)		21.9
Valuation allowance		(23.4	)		1.1			(24.6	)
Deferred tax liabilities		263.1			53.5			209.6
Reserve for retirement benefits		114.4			10.8			103.6
Unrealized gains on Available-for-sale securities		99.2			45.3			53.8
Net deferred gains on hedging instruments		35.0			(3.7	)		38.7
Other		14.4			1.0			13.3
Net deferred tax assets		(189.7	)		(45.6	)		(144.1	)

(2) Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses and Taxable Income


	(in billions of yen)
	FY2018			FY2019			FY2020			FY2021			FY2022			FY2023
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		144.5			142.3			132.3			176.4			109.1			70.4
Total credit costs		1.3			0.8			0.0			0.1			(0.2	)		(0.1	)
Income before income taxes		127.9			148.6			129.4			210.6			165.7			75.1
Reconciliation to taxable income		(79.2	)		(39.3	)		(26.5	)		(37.4	)		(49.7	)		(18.9	)
Taxable income		48.7			109.3			102.9			173.1			116.0			56.2

(3) Classification Based on Prior Year Operating Results as Provided in the ASBJ Guidance No.26

We are classified as “2” because we are considered to be a company showing stable financial performance.

Mitsubishi UFJ Financial Group, Inc.

15. Retirement Benefits

MUFG Consolidated

(1) Benefit obligation


	(in millions of yen)
	As of March 31, 2024 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Projected benefit obligation (reserve type) (A)		1,579,494			(107,222	)		1,686,716
Projected benefit obligation (non-reserve type) (B)		100,291			15,802			84,488
Fair value of plan assets (C)		3,560,132			549,937			3,010,195
Net amount recorded on the Consolidated Balance Sheet (A) + (B) - (C)		(1,880,346	)		(641,356	)		(1,238,989	)
Net defined benefit liability		102,155			15,710			86,445
Net defined benefit asset		(1,982,502	)		(657,067	)		(1,325,434	)

(2) Net periodic cost of retirement benefits


	(in millions of yen)
	For the fiscal year ended March 31, 2024 (A)			Increase (Decrease) (A) - (B)			For the fiscal year ended March 31, 2023 (B)
Net periodic cost of retirement benefits regarding defined benefit pension plans		(31,364	)		(41,525	)		10,161
Service cost		49,234			(10,914	)		60,149
Interest cost		29,799			(5,884	)		35,683
Expected return on plan assets		(94,319	)		37,578			(131,898	)
Amortization of unrecognized prior service cost		99			3,023			(2,924	)
Amortization of unrecognized net actuarial loss		(40,711	)		3,977			(44,688	)
Losses on pension buyout		—			(78,111	)		78,111
Other		24,533			8,805			15,728

(3) Assumptions used in calculation of projected benefit obligation


	As of March 31, 2024
Discount rates		Domestic consolidated subsidiaries	0.22%~1.83	%
		Overseas consolidated subsidiaries	1.92%~9.63	%
Expected return		Domestic consolidated subsidiaries	1.50%~3.60	%
		Overseas consolidated subsidiaries	3.10%~9.63	%

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(1) Benefit obligation


	(in millions of yen)
	As of March 31, 2024 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Projected benefit obligation (A)		1,211,731			(64,137	)		1,275,869
Discount rates		(1.4% ~ 1.8	%)					(1.1% ~ 1.4	%)
Fair value of plan assets (B)		2,466,312			371,135			2,095,176
Prepaid pension cost (C)		730,933			85,164			645,769
Reserve for retirement benefits (D)		20,421			5,976			14,444
Total amount unrecognized (A) - (B) + (C) - (D)		(544,069	)		(356,085	)		(187,983	)
Unrecognized net actuarial loss		(543,866	)		(356,231	)		(187,634	)
Unrecognized prior service cost		(202	)		146			(348	)

(2) Net periodic cost


	(in millions of yen)
	For the fiscal year ended March 31, 2024 (A)			Increase (Decrease) (A) - (B)			For the fiscal year ended March 31, 2023 (B)
Net periodic cost of retirement benefits		(14,505	)		(48,503	)		33,998
Service cost		32,344			1,434			30,910
Interest cost		21,882			3,112			18,769
Expected return on plan assets		(62,992	)		1,989			(64,982	)
Amortization of unrecognized prior service cost		(194	)		234			(428	)
Amortization of unrecognized net actuarial loss		(38,463	)		11,359			(49,822	)
Losses on pension buyout		—			(78,111	)		78,111
Other		32,917			11,478			21,438

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Benefit obligation


	(in millions of yen)
	As of March 31, 2024 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Projected benefit obligation (A)		279,110			(18,434	)		297,544
Discount rates		(1.3% ~ 1.7%)						(1% ~ 1.3%)
Fair value of plan assets (B)		940,088			185,461			754,626
Prepaid pension cost (C)		492,768			35,335			457,432
Reserve for retirement benefits (D)		—			—			—
Total amount unrecognized (A) - (B) + (C) - (D)		(168,209	)		(168,560	)		350
Unrecognized net actuarial loss		(169,325	)		(168,338	)		(986	)
Unrecognized prior service cost		1,115			(221	)		1,337

(2) Net periodic cost


	(in millions of yen)
	For the fiscal year ended March 31, 2024 (A)			Increase (Decrease) (A) - (B)			For the fiscal year ended March 31, 2023 (B)
Net periodic cost of retirement benefits		(18,653	)		2,106			(20,760	)
Service cost		4,831			(773	)		5,604
Interest cost		3,668			986			2,682
Expected return on plan assets		(27,465	)		637			(28,103	)
Amortization of unrecognized prior service cost		221			—			221
Amortization of unrecognized net actuarial loss		(393	)		1,228			(1,622	)
Other		484			27			457

Mitsubishi UFJ Financial Group, Inc.

(Reference)

1. Financial Statements

BK Non-consolidated

(1) Non-consolidated Balance Sheets (selected items)


(in millions of yen)	As of March 31, 2023			As of March 31, 2024
Assets:
Cash and due from banks		90,898,274			89,284,902
Call loans		750,795			1,266,925
Receivables under resale agreements		1,326,697			1,241,358
Monetary claims bought		4,326,066			4,730,143
Trading assets		6,306,376			6,263,383
Money held in trust		45,161			37,178
Securities		72,253,876			69,957,384
Loans and bills discounted		97,127,749			103,444,984
Foreign exchanges		1,726,923			2,030,007
Other assets		8,923,802			10,604,231
Tangible fixed assets		699,817			688,751
Intangible fixed assets		454,137			493,516
Prepaid pension costs		645,769			730,933
Deferred tax assets		398,626			265,948
Customers’ liabilities for acceptances and guarantees		8,661,518			9,335,180
Allowance for credit losses		(641,107	)		(841,518	)

Total assets		293,904,485			299,533,310

Mitsubishi UFJ Financial Group, Inc.


(in millions of yen)	As of March 31, 2023			As of March 31, 2024
Liabilities:
Deposits		192,272,289			200,064,588
Negotiable certificates of deposit		8,792,227			10,912,738
Call money		23,449			683,360
Payables under repurchase agreements		25,271,176			14,790,983
Payables under securities lending transactions		181,473			—
Commercial papers		1,834,968			2,807,589
Trading liabilities		2,835,605			3,355,951
Borrowed money		33,356,232			34,810,924
Foreign exchanges		2,779,176			3,719,588
Bonds payable		1,284,731			1,250,571
Other liabilities		7,564,963			8,105,838
Reserve for bonuses		71,830			85,950
Reserve for bonuses to directors		148			148
Reserve for stocks payment		3,705			4,597
Reserve for retirement benefits		14,444			20,421
Reserve for loyalty award credits		1,174			—
Reserve for contingent losses		71,357			73,000
Deferred tax liabilities for land revaluation		85,736			82,942
Acceptances and guarantees		8,661,518			9,335,180

Total liabilities		285,106,212			290,104,373

Net assets:
Capital stock		1,711,958			1,711,958
Capital surplus		3,878,275			3,878,275
Capital reserve		1,711,958			1,711,958
Other capital surplus		2,166,317			2,166,317
Retained earnings		3,306,434			3,637,579
Revenue reserve		190,044			190,044
Other retained earnings		3,116,389			3,447,534
Funds for retirement benefits		2,432			2,432
Reserve for investment promotion taxation		260			260
Other reserve		718,196			718,196
Earned surplus brought forward		2,395,500			2,726,645

Treasury stock		(645,700	)		(645,700	)

Total shareholders’ equity		8,250,967			8,582,112
Net unrealized gains (losses) on available-for-sale securities		854,922			1,499,245
Net deferred gains (losses) on hedging instruments		(476,124	)		(814,862	)
Land revaluation excess		168,507			162,441

Total valuation and translation adjustments		547,305			846,824

Total net assets		8,798,272			9,428,937

Total liabilities and net assets		293,904,485			299,533,310

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(2) Non-consolidated Statements of Income (selected items)


(in millions of yen)	For the fiscal year ended March 31, 2023			For the fiscal year ended March 31, 2024
Ordinary income		4,799,567			6,807,405
Interest income		3,202,838			4,942,626
Interest on loans and bills discounted		1,826,196			3,086,665
Interest and dividends on securities		834,551			887,669
Fees and commissions		681,922			807,090
Trading income		80,369			110,789
Other operating income		494,359			491,974
Other ordinary income		340,078			454,925
Ordinary expenses		3,895,822			5,807,634
Interest expenses		1,701,450			3,446,842
Interest on deposits		745,390			1,675,678
Fees and commissions		162,966			151,400
Trading expenses		1,607			1,217
Other operating expenses		664,590			469,385
General and administrative expenses		1,174,267			1,339,058
Other ordinary expenses		190,940			399,730

Ordinary profits		903,744			999,771

Extraordinary gains		437,287			20,745
Extraordinary losses		101,436			25,755

Income before income taxes		1,239,594			994,760

Income taxes - current		254,747			244,385
Income taxes - deferred		(30,607	)		(53,885	)

Total taxes		224,140			190,499

Net income		1,015,454			804,260

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Non-consolidated Balance Sheets (selected items)


(in millions of yen)	As of March 31, 2023			As of March 31, 2024
Assets:
Cash and due from banks		13,673,282			13,589,516
Call loans		230,000			320,000
Receivables under resale agreements		77,370			81,636
Receivables under securities borrowing transactions		106,180			151,538
Monetary claims bought		124,086			15
Trading assets		78,114			70,459
Money held in trust		157,275			14,824
Securities		14,117,360			16,050,790
Loans and bills discounted		2,272,102			2,220,225
Foreign exchanges		248,948			281,805
Other assets		1,352,617			2,124,530
Tangible fixed assets		125,644			125,067
Intangible fixed assets		91,894			91,078
Prepaid pension costs		457,432			492,768
Customers’ liabilities for acceptances and guarantees		36,751			39,201
Allowance for credit losses		(1,045	)		(966	)

Total assets		33,148,018			35,652,492

Mitsubishi UFJ Financial Group, Inc.


(in millions of yen)	As of March 31, 2023			As of March 31, 2024
Liabilities:
Deposits		11,076,351			12,749,342
Negotiable certificates of deposit		4,675,417			5,385,777
Call money		5,165			1,493,171
Payables under repurchase agreements		5,281,893			6,191,612
Payables under securities lending transactions		4,041			—
Commercial papers		368,100			234,941
Trading liabilities		189,453			218,314
Borrowed money		1,679,724			2,087,312
Foreign exchanges		378,171			367,658
Short-term bonds payable		120,999			230,987
Bonds payable		30,000			30,000
Due to trust accounts		6,207,882			3,199,300
Other liabilities		846,818			1,038,897
Reserve for bonuses		5,163			5,571
Reserve for bonuses to directors		98			102
Reserve for stocks payment		2,855			3,891
Reserve for contingent losses		9,820			7,100
Deferred tax liabilities		144,164			189,776
Deferred tax liabilities for land revaluation		3,789			3,689
Acceptances and guarantees		36,751			39,201

Total liabilities		31,066,664			33,476,650

Net assets:
Capital stock		324,279			324,279
Capital surplus		455,970			455,970
Capital reserve		250,619			250,619
Other capital surplus		205,351			205,351
Retained earnings		1,368,530			1,358,924
Revenue reserve		73,714			73,714
Other retained earnings		1,294,816			1,285,210
Funds for retirement benefits		710			710
Reserve for investment promotion taxation		227			281
Other reserve		138,495			138,495
Earned surplus brought forward		1,155,383			1,145,723
Treasury stock		(299,999	)		(299,999	)

Total shareholders’ equity		1,848,780			1,839,173

Net unrealized gains (losses) on available-for-sale securities		144,937			250,557
Net deferred gains (losses) on hedging instruments		87,817			85,588
Land revaluation excess		(182	)		523

Total valuation and translation adjustments		232,573			336,668

Total net assets		2,081,353			2,175,842

Total liabilities and net assets		33,148,018			35,652,492

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(2) Non-consolidated Statements of Income (selected items)


(in millions of yen)	For the fiscal year ended March 31, 2023		For the fiscal year ended March 31, 2024
Ordinary income		1,167,912		1,436,971
Trust fees		111,924		120,757
Interest income		761,508		1,005,801
Interest on loans and bills discounted		34,139		74,186
Interest and dividends on securities		627,380		697,894
Fees and commissions		154,590		163,247
Trading income		45		24
Other operating income		66,866		58,754
Other ordinary income		72,976		88,386
Ordinary expenses		996,773		1,356,388
Interest expenses		390,707		884,979
Interest on deposits		44,937		107,503
Fees and commissions		48,985		54,335
Trading expenses		22,207		13,884
Other operating expenses		326,663		113,372
General and administrative expenses		196,504		212,235
Other ordinary expenses		11,704		77,581

Ordinary profits		171,138		80,583

Extraordinary gains		764		2,177
Extraordinary losses		6,113		7,630

Income before income taxes		165,790		75,130

Income taxes - current		35,838		13,599
Income taxes - deferred		5,406		3,727

Total taxes		41,244		17,326

Net income		124,545		57,803

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(3) Statements of Trust Assets and Liabilities

Including trust assets under service-shared co-trusteeship


(in millions of yen)	As of March 31, 2023		As of March 31, 2024
Assets:
Loans and bills discounted		1,277,875		1,569,969
Securities		70,547,100		80,134,164
Beneficiary rights to the trust		118,934,755		145,116,404
Securities held in custody accounts		2,933,178		3,886,180
Monetary claims		32,819,251		34,138,163
Tangible fixed assets		20,879,125		22,750,084
Intangible fixed assets		165,299		186,122
Other claims		3,189,442		3,312,930
Call loans		3,673,857		4,455,397
Due from banking account		10,620,708		6,170,680
Cash and due from banks		6,927,037		6,181,323

Total		271,967,632		307,901,420

Liabilities:
Money trusts		33,565,350		37,371,516
Pension trusts		12,233,123		12,760,480
Property formation benefit trusts		6,273		5,738
Investment trusts		122,338,610		145,025,458
Money entrusted other than money trusts		6,153,057		7,167,100
Securities trusts		5,361,672		6,145,365
Monetary claim trusts		28,813,961		29,767,810
Equipment trusts		166,695		226,799
Land and fixtures trusts		18,626		18,425
Composite trusts		63,310,260		69,412,725

Total		271,967,632		307,901,420


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 26,247 millions of yen as of March 31, 2024.

Detailed information for “Money trust” with contracts indemnifying the principal amounts

(including trusts for which beneficiary interests are re-entrusted)


(in millions of yen)	As of March 31, 2023		As of March 31, 2024
Assets:
Loans and bills discounted		3,939		3,119
Other		6,405,078		3,289,438

Total		6,409,018		3,292,557

Liabilities:
Principal		6,408,838		3,292,449
Allowance for bad debts		11		9
Other		168		99

Total		6,409,018		3,292,557

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(4) Major Items


(in millions of yen)	As of March 31, 2023		As of March 31, 2024
Total funds		61,556,516		68,272,855

Deposits		11,076,351		12,749,342
Negotiable certificates of deposit		4,675,417		5,385,777
Money trusts		33,565,350		37,371,516
Pension trusts		12,233,123		12,760,480
Property formation benefit trusts		6,273		5,738

Loans and bills discounted		3,549,977		3,790,194

Banking account		2,272,102		2,220,225
Trust account		1,277,875		1,569,969

Investment securities		84,664,460		96,184,954


Note:		The table shown above includes master trust assets under the service-shared co-trusteeship between TB and The Master Trust Bank of Japan, Ltd.