Form 6-K

ROE is computed as follows:

Profits attributable to owners of parent × 4 / 3

{(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

6-K 1 d865970d6k.htm FORM 6-K Form 6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

Report of Foreign Private Issuer

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

the Securities Exchange Act of 1934

For the month of February 2020

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. 333-229697) OF MITSUBISHI UFJ FINANCIAL GROUP, INC. AND TO BE A PART THEREOF FROM THE DATE ON WHICH THIS REPORT IS FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED WITH OR FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION.

SIGNATURES

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

Date: February 4, 2020


Mitsubishi UFJ Financial Group, Inc.

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

LOGO

Consolidated Summary Report

<under Japanese GAAP>

for the nine months ended December 31, 2019

February 4, 2020


Company name:		Mitsubishi UFJ Financial Group, Inc.
Stock exchange listings:		Tokyo, Nagoya, New York
Code number:		8306
URL		https://www.mufg.jp/
Representative:		Kanetsugu Mike, President & Group CEO
For inquiry:		Masahisa Takahashi, Managing Director, Head of Financial Accounting Office, Financial Planning Division
		TEL (03) 5218-8890
Quarterly securities report issuing date:		February 14, 2020
Dividend payment date:		-
Trading accounts:		Established
Supplemental information for quarterly financial statements:		Available
Quarterly investor meeting presentation:		None

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

1. Consolidated Financial Data for the Nine Months ended December 31, 2019

(1) Results of Operations


	(% represents the change from the same period in the previous fiscal year)
	Ordinary Income				Ordinary Profits					Profits Attributable to Owners of Parent
For the nine months ended	million yen		%		million yen		%			million yen		%
December 31, 2019		5,303,596		5.6		1,082,505		(8.6	)		584,278		(33.0	)
December 31, 2018		5,023,125		9.7		1,184,876		(1.8	)		872,232		1.0

(*)	Comprehensive income December 31, 2019: 899,721 million yen, 221.7%; December 31, 2018: 279,708 million yen, (81.0)%


	Basic earnings per share		Diluted earnings per share
For the nine months ended	yen		yen
December 31, 2019		45.24		45.07
December 31, 2018		66.68		66.43

(2) Financial Conditions


	Total Assets		Total Net Assets		*Equity-to-asset ratio ()**
As of	million yen		million yen		%
December 31, 2019		314,398,868		17,747,823		5.3
March 31, 2019		311,138,903		17,261,677		5.2

(Reference) Shareholders’ equity as of December 31, 2019: 16,653,239 million yen; March 31, 2019: 16,179,276 million yen

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

(Total net assets - Subscription rights to shares - Non-controlling interests) / Total assets

2. Dividends on Common Stock


	Dividends per Share
	1st quarter-end		2nd quarter-end		3rd quarter-end		Fiscal year-end		Total
For the fiscal year	yen		yen		yen		yen		yen
ended March 31, 2019		—		11.00		—		11.00		22.00
ending March 31, 2020		—		12.50		—
ending March 31, 2020 (Forecast)								12.50		25.00

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

3. Earnings Target for the Fiscal Year ending March 31, 2020 (Consolidated)

MUFG has the target of 750.0 billion yen of profits attributable to owners of parent for the fiscal year ending March 31, 2020. (There is a change to our earnings target released on May 15, 2019.)

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

ø Notes

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

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

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

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

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

(D) Restatements: No

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


(A) Total stocks outstanding including treasury stocks:	December 31, 2019	13,667,770,520 shares
	March 31, 2019	13,667,770,520 shares
(B) Treasury stocks:	December 31, 2019	827,149,070 shares
	March 31, 2019	745,316,531 shares
(C) Average outstanding of total stocks:	Nine months ended December 31, 2019	12,916,075,657 shares
	Nine months ended December 31, 2018	13,081,212,089 shares

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

ø Notes for using forecasted information etc.

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

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

Mitsubishi UFJ Financial Group, Inc.

(Appendix)

Contents of Appendix


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

“Selected Financial Information under Japanese GAAP For the Nine Months Ended December 31, 2019”

Mitsubishi UFJ Financial Group, Inc.

1. Consolidated Financial Statements and Notes

(1) Consolidated Balance Sheets


(in millions of yen)	As of March 31, 2019			As of December 31, 2019
Assets:
Cash and due from banks		74,206,895			73,483,874
Call loans and bills bought		451,668			584,591
Receivables under resale agreements		10,868,179			15,604,252
Receivables under securities borrowing transactions		2,739,363			2,540,468
Monetary claims bought		7,254,708			7,220,357
Trading assets		16,126,188			19,150,200
Money held in trust		912,961			1,045,488
Securities		64,262,463			61,928,846
Loans and bills discounted		107,412,468			106,274,795
Foreign exchanges		2,134,807			1,987,890
Other assets		12,838,412			12,274,053
Tangible fixed assets		1,335,972			1,344,658
Intangible fixed assets		1,136,530			1,593,213
Net defined benefit assets		824,007			881,247
Deferred tax assets		104,451			112,078
Customers’ liabilities for acceptances and guarantees		9,241,062			9,049,557
Allowance for credit losses		(711,236	)		(676,707	)

Total assets		311,138,903			314,398,868

Liabilities:
Deposits		180,171,279			183,174,093
Negotiable certificates of deposit		9,413,420			9,594,996
Call money and bills sold		2,465,093			1,450,060
Payables under repurchase agreements		25,112,121			25,510,834
Payables under securities lending transactions		903,219			658,000
Commercial papers		2,316,338			2,836,422
Trading liabilities		11,624,122			12,190,694
Borrowed money		16,268,170			15,791,945
Foreign exchanges		2,271,145			2,420,466
Short-term bonds payable		793,999			763,699
Bonds payable		12,179,680			13,302,306
Due to trust accounts		10,282,227			9,083,782
Other liabilities		9,452,717			9,303,066
Reserve for bonuses		79,236			64,128
Reserve for bonuses to directors		689			960
Reserve for stocks payment		10,814			10,810
Net defined benefit liabilities		59,540			79,093
Reserve for retirement benefits to directors		1,058			1,018
Reserve for loyalty award credits		17,606			25,418
Reserve for contingent losses		265,707			173,407
Reserves under special laws		4,263			4,262
Deferred tax liabilities		829,418			1,050,371
Deferred tax liabilities for land revaluation		114,292			111,646
Acceptances and guarantees		9,241,062			9,049,557

Total liabilities		293,877,225			296,651,044

Mitsubishi UFJ Financial Group, Inc.


(in millions of yen)	As of March 31, 2019			As of December 31, 2019
Net assets:
Capital stock		2,141,513			2,141,513
Capital surplus		1,034,641			1,038,728
Retained earnings		10,640,655			10,927,050
Treasury stock		(516,649	)		(564,151	)

Total shareholders’ equity		13,300,160			13,543,140

Net unrealized gains (losses) on available-for-sale securities		2,249,231			2,641,122
Net deferred gains (losses) on hedging instruments		122,516			151,687
Land revaluation excess		167,681			164,042
Foreign currency translation adjustments		339,713			181,098
Remeasurements of defined benefit plans		(4,729	)		(19,587	)
Debt value adjustments of foreign subsidiaries and affiliates		4,702			(8,263	)

Total accumulated other comprehensive income		2,879,115			3,110,098

Subscription rights to shares		217			59
Non-controlling interests		1,082,184			1,094,525

Total net assets		17,261,677			17,747,823

Total liabilities and net assets		311,138,903			314,398,868

Mitsubishi UFJ Financial Group, Inc.

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

Consolidated Statements of Income


(in millions of yen)	For the nine months ended December 31, 2018		For the nine months ended December 31, 2019
Ordinary income		5,023,125		5,303,596
Interest income		2,754,145		2,914,182
Interest on loans and bills discounted		1,754,192		1,811,000
Interest and dividends on securities		497,715		502,292
Trust fees		94,525		98,139
Fees and commissions		1,128,234		1,127,348
Trading income		176,475		210,004
Other operating income		282,567		479,459
Other ordinary income		587,177		474,461
Ordinary expenses		3,838,249		4,221,090
Interest expenses		1,304,252		1,532,063
Interest on deposits		414,885		545,767
Fees and commissions		163,858		175,558
Trading expenses		1,200		—
Other operating expenses		137,485		177,335
General and administrative expenses		2,018,267		2,051,862
Other ordinary expenses		213,184		284,270

Ordinary profits		1,184,876		1,082,505

Extraordinary gains		12,524		39,756
Gains on disposition of fixed assets		10,827		7,052
Reversal of reserve for contingent liabilities from financial instruments transactions		52		1
Gains on sales of shares of subsisidiaries		—		30,596
Gains on step acquisitions		—		2,105
Gains on liquidation of subsidiaries		1,645		—
Extraordinary losses		46,380		285,079
Losses on disposition of fixed assets		5,138		6,880
Losses on impairment of fixed assets		23,102		43,388
Losses on change in equity		15,223		21,311
Losses on sales of shares of affiliates		2,916		6,072
Amortization of goodwill		—		207,425

Profits before income taxes		1,151,020		837,183

Income taxes-current		140,027		141,995
Income taxes-deferred		63,969		38,553

Total taxes		203,997		180,548

Profits		947,023		656,634

Profits attributable to non-controlling interests		74,791		72,355

Profits attributable to owners of parent		872,232		584,278

Mitsubishi UFJ Financial Group, Inc.

Consolidated Statements of Comprehensive Income


(in millions of yen)	For the nine months ended December 31, 2018			For the nine months ended December 31, 2019
Profits		947,023			656,634
Other comprehensive income
Net unrealized gains (losses) on available-for-sale securities		(643,863	)		341,979
Net deferred gains (losses) on hedging instruments		14,876			32,252
Land revaluation excess		—			36
Foreign currency translation adjustments		2,984			(102,383	)
Remeasurements of defined benefit plans		17,220			(14,991	)
Share of other comprehensive income of associates accounted for using equity method		(58,534	)		(13,805	)

Total other comprehensive income		(667,315	)		243,087

Comprehensive income		279,708			899,721

(Comprehensive income attributable to)
Comprehensive income attributable to owners of parent		202,648			819,015
Comprehensive income attributable to non-controlling interests		77,059			80,706

Mitsubishi UFJ Financial Group, Inc.

(3)	Notes on Going-Concern Assumption

None.

(4)	Notes for Material Changes in Shareholders’ Equity

None.

Selected Financial Information

under Japanese GAAP

For the Nine Months Ended December 31, 2019


Mitsubishi UFJ Financial Group, Inc.

Mitsubishi UFJ Financial Group, Inc.

[Contents]



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

2. Non Performing Loans Based on the Financial Reconstruction Law	[ BK and TB Combined including Trust Account ]	5
	[ BK Non-consolidated ][ TB Non-consolidated ]
	[ TB Non-consolidated : Trust Account ]

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

4. ROE	[ MUFG Consolidated ]	9

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

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

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

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

(*2)	“BK” means MUFG Bank, Ltd.

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

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

Mitsubishi UFJ Financial Group, Inc.

1. Financial Results

MUFG Consolidated


	(in millions of yen)
	For the nine months ended						Increase (Decrease) (A) - (B)
	December 31, 2019 (A)			December 31, 2018 (B)			Increase (Decrease) (A) - (B)
Gross profits		2,944,298			2,829,281			115,016
Gross profits before credit costs for trust accounts		2,944,298			2,829,281			115,016
Net interest income		1,382,241			1,450,023			(67,782	)
Trust fees		98,139			94,525			3,614
Credit costs for trust accounts (1)		0			—			0
Net fees and commissions		951,789			964,375			(12,586	)
Net trading profits		210,004			175,275			34,728
Net other operating profits		302,124			145,082			157,041
Net gains (losses) on debt securities		195,034			10,274			184,759
General and administrative expenses		2,057,138			1,988,194			68,944
Amortization of goodwill		19,780			13,392			6,388
Net operating profits before credit costs for trust accounts, provision for general allowance for credit losses and amortization of goodwill		906,940			854,480			52,459
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		887,159			841,087			46,071
Provision for general allowance for credit losses (2)		(42,560	)		—			(42,560	)
Net operating profits*		844,598			841,087			3,510
Net non-recurring gains (losses)		237,907			343,788			(105,881	)
Credit costs (3)		(111,424	)		(99,636	)		(11,788	)
Losses on loan write-offs		(115,042	)		(111,216	)		(3,826	)
Provision for specific allowance for credit losses		5,953			—			5,953
Other credit costs		(2,336	)		11,579			(13,916	)
Reversal of allowance for credit losses (4)		—			69,155			(69,155	)
Reversal of reserve for contingent losses included in credit costs (5)		6,481			48,521			(42,039	)
Gains on loans written-off (6)		63,206			49,261			13,945
Net gains (losses) on equity securities		53,500			84,615			(31,114	)
Gains on sales of equity securities		117,937			113,861			4,075
Losses on sales of equity securities		(36,556	)		(16,927	)		(19,629	)
Losses on write-down of equity securities		(27,879	)		(12,319	)		(15,560	)
Equity in earnings of equity method investees		220,880			241,879			(20,998	)
Other non-recurring gains (losses)		5,262			(50,008	)		55,270

Ordinary profits		1,082,505			1,184,876			(102,370	)

Net extraordinary gains (losses)		(245,322	)		(33,855	)		(211,467	)
Losses on impairment of fixed assets		(43,388	)		(23,102	)		(20,286	)
Losses on change in equity		(21,311	)		(15,223	)		(6,087	)
Amortization of goodwill		(207,425	)		—			(207,425	)
Gains on sales of shares of subsidiaries		30,596			—			30,596
Profits before income taxes		837,183			1,151,020			(313,837	)
Income taxes-current		141,995			140,027			1,967
Income taxes-deferred		38,553			63,969			(25,416	)
Total taxes		180,548			203,997			(23,448	)
Profits		656,634			947,023			(290,389	)
Profits attributable to non-controlling interests		72,355			74,791			(2,435	)

Profits attributable to owners of parent		584,278			872,232			(287,953	)

Note:
* 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
(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		(84,296	)		67,302			(151,599	)

Mitsubishi UFJ Financial Group, Inc.

BK and TB Combined


	(in millions of yen)
	For the nine months ended						Increase (Decrease) (A) - (B)
	December 31, 2019 (A)			December 31, 2018 (B)			Increase (Decrease) (A) - (B)
Gross profits		1,443,302			1,442,708			594
Gross profits before credit costs for trust accounts		1,443,301			1,442,708			593
Net interest income		693,518			892,651			(199,133	)
Trust fees		78,461			74,552			3,909
Credit costs for trust accounts (1)		0			—			0
Net fees and commissions		359,848			379,146			(19,298	)
Net trading profits		52,464			37,501			14,962
Net other operating profits		259,009			58,855			200,153
Net gains (losses) on debt securities		190,522			15,380			175,141
General and administrative expenses		1,009,891			996,013			13,878
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		433,409			446,694			(13,284	)
Provision for general allowance for credit losses (2)		—			—			—
Net operating profits		433,410			446,694			(13,284	)
Net non-recurring gains (losses)		155,679			231,738			(76,058	)
Credit costs (3)		(20,577	)		(9,835	)		(10,742	)
Losses on loan write-offs		(18,783	)		(21,402	)		2,619
Provision for specific allowance for credit losses		—			—			—
Other credit costs		(1,794	)		11,567			(13,361	)
Reversal of allowance for credit losses (4)		61,737			111,404			(49,666	)
Reversal of reserve for contingent losses included in credit costs (5)		3,439			55,287			(51,847	)
Gains on loans written-off (6)		19,668			12,647			7,020
Net gains (losses) on equity securities		54,126			79,423			(25,297	)
Gains on sales of equity securities		121,297			110,026			11,271
Losses on sales of equity securities		(36,680	)		(17,396	)		(19,284	)
Losses on write-down of equity securities		(30,490	)		(13,205	)		(17,285	)
Other non-recurring gains (losses)		37,284			(17,189	)		54,474

Ordinary profits		589,089			678,432			(89,343	)

Net extraordinary gains (losses)		(404,679	)		165,377			(570,056	)
Losses on write-down of shares of subsidiaries		(400,165	)		—			(400,165	)
Income before income taxes		184,410			843,809			(659,399	)
Income taxes-current		115,491			76,548			38,942
Income taxes-deferred		30,094			47,496			(17,401	)
Total taxes		145,585			124,044			21,540

Net income		38,825			719,765			(680,940	)


(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		64,268			169,503			(105,234	)

Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities		242,887			431,314			(188,426	)
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		251,139			403,867			(152,728	)

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated


	(in millions of yen)
	For the nine months ended						Increase (Decrease) (A) - (B)
	December 31, 2019 (A)			December 31, 2018 (B)			Increase (Decrease) (A) - (B)
Gross profits		1,198,908			1,196,948			1,959
Net interest income		614,960			784,060			(169,100	)
Net fees and commissions		293,015			315,161			(22,145	)
Net trading profits		47,374			23,063			24,310
Net other operating profits		243,557			74,662			168,895
Net gains (losses) on debt securities		172,447			18,065			154,382
General and administrative expenses		866,966			858,187			8,779
Amortization of goodwill		455			266			189
Net operating profits before provision for general allowance for credit losses and amortization of goodwill		332,396			339,027			(6,630	)
Net operating profits before provision for general allowance for credit losses		331,941			338,761			(6,819	)
Provision for general allowance for credit losses (1)		—			—			—
Net operating profits		331,941			338,761			(6,819	)
Net non-recurring gains (losses)		150,170			228,029			(77,858	)
Credit costs (2)		(20,566	)		(8,661	)		(11,904	)
Reversal of allowance for credit losses (3)		60,938			108,446			(47,508	)
Reversal of reserve for contingent losses included in credit costs (4)		3,407			55,287			(51,880	)
Gains on loans written-off (5)		19,667			12,640			7,026
Net gains (losses) on equity securities		47,608			70,994			(23,386	)
Gains on sales of equity securities		96,862			100,084			(3,222	)
Losses on sales of equity securities		(19,913	)		(16,887	)		(3,025	)
Losses on write-down of equity securities		(29,341	)		(12,202	)		(17,138	)
Other non-recurring gains (losses)		39,115			(10,678	)		49,793

Ordinary profits		482,111			566,790			(84,678	)

Net extraordinary gains (losses)		(405,076	)		151,151			(556,227	)
Losses on write-down of shares of subsidiaries		(400,165	)		—			(400,165	)
Income before income taxes		77,035			717,942			(640,906	)
Income taxes-current		100,429			58,701			41,727
Income taxes-deferred		21,926			29,322			(7,396	)
Total taxes		122,355			88,024			34,331

Net income		(45,319	)		629,918			(675,238	)


(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)		63,447			167,713			(104,266	)
Provision for general allowance for credit losses		(3,192	)		149,994			(153,186	)
Provision for special allowance for credit losses		64,059			(41,792	)		105,852
Allowance for credit to specific foreign borrowers		71			244			(173	)
Losses on loans write-off		(18,771	)		(20,584	)		1,812
Provision for contingent losses included in credit costs		3,407			55,287			(51,880	)
Gains on loans written-off		19,667			12,640			7,026
Losses on sales of other loans, etc.		(1,794	)		11,922			(13,716	)

Net operating profits before provision for general allowance for credit losses, excluding net gains (losses) on debt securities		159,493			320,696			(161,202	)
Net operating profits before provision for general allowance for credit losses, excluding net gains (losses) on debt securities and investment trusts cancellation		160,659			321,676			(161,017	)

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated


	(in millions of yen)
	For the nine months ended						Increase (Decrease) (A) - (B)
	December 31, 2019 (A)			December 31, 2018 (B)			Increase (Decrease) (A) - (B)
Gross profits		244,394			245,759			(1,365	)
Gross profits before credit costs for trust accounts		244,393			245,759			(1,365	)
Trust fees		78,461			74,552			3,909
Credit costs for trust accounts (1)		0			—			0
Net interest income		78,558			108,591			(30,032	)
Net fees and commissions		66,832			63,985			2,846
Net trading profits		5,090			14,437			(9,347	)
Net other operating profits		15,451			(15,807	)		31,258
Net gains (losses) on debt securities		18,074			(2,684	)		20,758
General and administrative expenses		142,925			137,826			5,099
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		101,468			107,933			(6,464	)
Provision for general allowance for credit losses (2)		—			—			—
Net operating profits		101,469			107,933			(6,464	)
Net non-recurring gains (losses)		5,508			3,708			1,800
Credit costs (3)		(11	)		(1,173	)		1,162
Reversal of allowance for credit losses (4)		798			2,957			(2,158	)
Reversal of reserve for contingent losses included in credit costs (5)		32			—			32
Gains on loans written-off (6)		0			6			(6	)
Net gains (losses) on equity securities		6,518			8,429			(1,911	)
Gains on sales of equity securities		24,435			9,941			14,493
Losses on sales of equity securities		(16,767	)		(509	)		(16,258	)
Losses on write-down of equity securities		(1,149	)		(1,002	)		(146	)
Other non-recurring gains (losses)		(1,830	)		(6,510	)		4,680

Ordinary profits		106,977			111,641			(4,664	)

Net extraordinary gains (losses)		397			14,225			(13,828	)
Income before income taxes		107,374			125,867			(18,492	)
Income taxes-current		15,062			17,847			(2,785	)
Income taxes-deferred		8,167			18,173			(10,005	)
Total taxes		23,229			36,020			(12,790	)

Net income		84,144			89,847			(5,702	)


(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		821			1,789			(968	)
Credit costs for trust accounts		0			—			0
Provision for general allowance for credit losses		779			2,945			(2,165	)
Provision for special allowance for credit losses		18			11			7
Allowance for credit to specific foreign borrowers		—			—			—
Losses on loans write-offs		(11	)		(818	)		807
Provision for contingent losses included in credit costs		32			(354	)		387
Gains on loans written-off		0			6			(6	)
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		83,394			110,618			(27,223	)
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		90,480			82,191			8,289

Mitsubishi UFJ Financial Group, Inc.

2. Non Performing Loans Based on the Financial Reconstruction Law

BK and TB Combined including Trust Account


	(in millions of yen)
	As of December 31, 2019			As of March 31, 2019
Bankrupt or De facto Bankrupt		162,533			106,612
Doubtful		289,856			351,417
Special Attention		211,781			181,216
Non Performing Loans		664,171			639,246
Total loans		98,807,022			102,088,618
Non Performing Loans / Total loans		0.67	%		0.62	%

BK Non-consolidated
	(in millions of yen)
	As of December 31, 2019			As of March 31, 2019
Bankrupt or De facto Bankrupt		162,407			106,026
Doubtful		287,504			348,192
Special Attention		211,494			178,838
Non Performing Loans		661,406			633,058
Total loans		94,649,015			97,347,444
Non Performing Loans / Total loans		0.69	%		0.65	%

TB Non-consolidated
	(in millions of yen)
	As of December 31, 2019			As of March 31, 2019
Bankrupt or De facto Bankrupt		125			585
Doubtful		2,347			3,219
Special Attention		171			2,258
Non Performing Loans		2,644			6,063
Total loans		4,145,328			4,727,090
Non Performing Loans / Total loans		0.06	%		0.12	%

TB Non-consolidated: Trust Account
	(in millions of yen)
	As of December 31, 2019			As of March 31, 2019
Bankrupt or De facto Bankrupt		0			0
Doubtful		4			4
Special Attention		115			119
Non Performing Loans		120			124
Total loans		12,678			14,083
Non Performing Loans / Total loans		0.95	%		0.88	%

Mitsubishi UFJ Financial Group, Inc.

3. Securities

MUFG Consolidated

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

(in millions of yen)

As of December 31, 2019

As of March 31, 2019

Amount on
consolidated
balance sheet

Unrealized
gains (losses)

Amount on
consolidated
balance sheet

Unrealized
gains (losses)

Debt securities being held to maturity

4,302,154

27,218

4,448,167

11,047

(in millions of yen)

As of December 31, 2019

As of March 31, 2019

Amount on
consolidated
balance sheet

Unrealized
gains (losses)

Amount on
consolidated
balance sheet

Unrealized
gains (losses)

Available-for-sale securities

58,640,477

3,827,600

60,578,654

3,335,691

Domestic equity securities

5,098,712

3,021,608

4,953,392

2,764,362

Domestic bonds

25,248,688

264,463

27,261,206

357,491

Other

28,293,076

541,528

28,364,055

213,838

Foreign equity securities

112,935

47,725

114,879

52,586

Foreign bonds

21,244,004

383,260

21,532,914

173,648

Other

6,936,136

110,542

6,716,261

(12,396

)

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

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

(in millions of yen)

As of December 31, 2019

As of March 31, 2019

Amount on
balance sheet

Unrealized
gains (losses)

Amount on
balance sheet

Unrealized
gains (losses)

Debt securities being held to maturity

2,088,936

22,008

2,149,931

33,864

Stocks of subsidiaries and affiliates

1,205,043

(130,682

)

1,187,700

(19,953

)

(in millions of yen)

As of December 31, 2019

As of March 31, 2019

Amount on
balance sheet

Unrealized
gains (losses)

Amount on
balance sheet

Unrealized
gains (losses)

Available-for-sale securities

42,021,112

2,796,640

43,913,005

2,553,484

Domestic equity securities

4,159,526

2,379,340

4,032,799

2,162,644

Domestic bonds

23,313,588

233,745

24,613,103

319,638

Other

14,547,997

183,554

15,267,102

71,201

Foreign equity securities

89,006

40,906

95,816

45,829

Foreign bonds

10,977,261

141,678

11,332,011

108,606

Other

3,481,728

968

3,839,275

(83,235

)

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

The tables include beneficiary rights to the trust in “Monetary claims bought” in addition to “Securities”.

(in millions of yen)

As of December 31, 2019

As of March 31, 2019

Amount on
balance sheet

Unrealized
gains (losses)

Amount on
balance sheet

Unrealized
gains (losses)

Debt securities being held to maturity

1,016,159

(8,482

)

942,676

(2,360

)

Stocks of subsidiaries and affiliates

34,388

(982

)

54,072

)

(in millions of yen)

As of December 31, 2019

As of March 31, 2019

Amount on
balance sheet

Unrealized
gains (losses)

Amount on
balance sheet

Unrealized
gains (losses)

Available-for-sale securities

11,889,689

928,572

12,521,803

752,676

Domestic equity securities

992,592

596,938

971,597

545,080

Domestic bonds

1,998,756

29,753

2,759,889

36,881

Other

8,898,340

301,880

8,790,317

170,714

Foreign equity securities

Foreign bonds

6,744,656

194,170

7,065,334

103,400

Other

2,153,637

107,674

1,724,890

67,260

Mitsubishi UFJ Financial Group, Inc.

4. ROE

MUFG Consolidated


	(%)
	For the nine months ended December 31, 2019	For the nine months ended December 31, 2018
ROE	5.69	8.56

Mitsubishi UFJ Financial Group, Inc.

5. Average Interest Rate Spread

BK and TB Combined


	(percentage per annum)
(Domestic business segment)	For the nine months ended December 31, 2019	For the nine months ended December 31, 2018
Average interest rate on loans and bills discounted	0.75	0.78
Average interest rate on deposits and NCD	0.00	0.00
Interest rate spread	0.74	0.77

(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted	0.79	0.83
Interest rate spread	0.79	0.82
BK Non-consolidated
	(percentage per annum)
(Domestic business segment)	For the nine months ended December 31, 2019	For the nine months ended December 31, 2018
Average interest rate on loans and bills discounted	0.78	0.81
Average interest rate on deposits and NCD	0.00	0.00
Interest rate spread	0.77	0.80

(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted	0.80	0.84
Interest rate spread	0.79	0.83
TB Non-consolidated
	(percentage per annum)
(Domestic business segment)	For the nine months ended December 31, 2019	For the nine months ended December 31, 2018
Average interest rate on loans and bills discounted	0.34	0.39
Average interest rate on deposits and NCD	0.04	0.04
Interest rate spread	0.30	0.34

(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted	0.66	0.63
Interest rate spread	0.61	0.58

Mitsubishi UFJ Financial Group, Inc.

6. Loans and Deposits

BK and TB Combined


	(in millions of yen)
	As of December 31, 2019		As of March 31, 2019
Deposits (ending balance)		165,085,976		165,870,252
Deposits (average balance)		166,675,959		164,655,565
Loans (ending balance)		90,068,910		92,521,663
Loans (average balance)		92,706,877		94,785,607

	(in millions of yen)
	As of December 31, 2019		As of March 31, 2019
Domestic deposits (ending balance)*		141,437,874		142,049,459
Individuals		79,684,908		77,010,942

Note:

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

BK Non-consolidated


	(in millions of yen)
	As of December 31, 2019		As of March 31, 2019
Deposits (ending balance)		153,365,560		152,870,674
Deposits (average balance)		154,769,339		150,722,326
Loans (ending balance)		86,040,439		87,877,986
Loans (average balance)		88,273,040		89,463,553

	(in millions of yen)
	As of December 31, 2019		As of March 31, 2019
Domestic deposits (ending balance)*		130,891,718		130,623,932
Individuals		72,709,158		69,773,375

Note:

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

TB Non-consolidated


	(in millions of yen)
	As of December 31, 2019		As of March 31, 2019
Deposits (ending balance)		11,720,416		12,999,578
Deposits (average balance)		11,906,620		13,933,238
Loans (ending balance)		4,028,470		4,643,676
Loans (average balance)		4,433,837		5,322,053

	(in millions of yen)
	As of December 31, 2019		As of March 31, 2019
Domestic deposits (ending balance)*		10,546,155		11,425,527
Individuals		6,975,750		7,237,567

Note:

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

Mitsubishi UFJ Financial Group, Inc.

7. Statements of Trust Assets and Liabilities

TB Non-consolidated

Including trust assets under service-shared co-trusteeship


(in millions of yen)	As of March 31, 2019		As of December 31, 2019
Assets:
Loans and bills discounted		360,708		364,977
Securities		58,002,805		58,504,115
Beneficiary rights to the trust		79,369,495		83,691,899
Securities held in custody accounts		3,367,036		4,034,063
Monetary claims		18,475,973		21,605,455
Tangible fixed assets		14,466,100		15,439,804
Intangible fixed assets		134,221		135,736
Other claims		3,414,876		3,009,231
Call loans		1,062,298		814,697
Due from banking account		9,531,008		8,260,166
Cash and due from banks		5,860,812		4,825,199

Total		194,045,337		200,685,347

Liabilities:
Money trusts		25,237,376		24,950,332
Pension trusts		11,957,774		11,636,544
Property formation benefit trusts		7,528		7,042
Investment trusts		84,634,927		87,596,700
Money entrusted other than money trusts		4,088,974		4,740,228
Securities trusts		5,528,493		6,209,698
Monetary claim trusts		17,364,307		19,756,640
Equipment trusts		80,967		79,455
Land and fixtures trusts		43,889		43,754
Composite trusts		45,101,098		45,664,949

Total		194,045,337		200,685,347


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 1,504 millions of yen as of March 31, 2019 and 812,226 millions of yen as of December 31, 2019, respectively.