FORM 6-K

6-K 1 d907272d6k.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 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FROM THE DATE ON WHICH THIS REPORT IS FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED WITH OR FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION.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: May 15, 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 fiscal year ended March 31, 2020

May 15, 2020


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 Office, Financial Planning Division
		TEL (03) 5218-8890
General meeting of shareholders:		June 29, 2020
Dividend payment date:		June 30, 2020
Securities report issuing date:		June 29, 2020
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, 2020

(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, 2020		7,299,078		9.0		1,235,770		(8.3	)		528,151		(39.5	)
March 31, 2019		6,697,402		10.4		1,348,043		(7.8	)		872,689		(11.8	)

(*)	Comprehensive income

March 31, 2020: 271,456 million yen (60.5) % ; March 31, 2019: 686,992 million yen (48.4) %


	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, 2020		40.95		40.71		3.3		0.4		16.9
March 31, 2019		66.91		66.62		5.4		0.4		20.1

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

March 31, 2020: 277,221 million yen ; March 31, 2019: 284,389 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, 2020		336,571,379		16,855,738			4.8			1,245.33
March 31, 2019		311,138,903		17,261,677			5.2			1,252.03
(Reference) Shareholders’ equity as of March 31, 2020: 15,990,834 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 (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, 2020		8,060,840		(3,368,444	)		(251,664	)		78,335,634
March 31, 2019		5,609,305		(5,627,546	)		(484,359	)		74,206,895

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, 2019		—		11.00		—		11.00		22.00		286,867		32.9		1.8
ended March 31, 2020		—		12.50		—		12.50		25.00		322,909		61.0		2.0
ending March 31, 2021 (Forecast)		—		12.50		—		12.50		25.00				58.4

(*)	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, 2021 (Consolidated)

MUFG has set an earnings target of 550.0 billion yen of profits attributable to owners of parent for the fiscal year ending March 31, 2021. 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.

The COVID-19 pandemic is expected to have a further impact on our business as economic and corporate activity deteriorates and the financial market remains volatile.

At present, the timing of containment of COVID-19 cannot be forecasted and the impact of the pandemic on the real economy is still uncertain. In preparing our earnings target in profits attributable to owners of parent for the Fiscal Year ending March 31, 2021 (Consolidated), referring in part to the baseline scenario in world economic outlook which the International Monetary Fund (IMF) released in April 2020, we assumed that economic activity will gradually resume from the second quarter of the Fiscal Year ending March 31, 2021 as the spread of COVID-19 declines and that economic conditions will recover to the level of calendar 2019 around the end of calendar 2020 globally, and around the end of calendar 2021 in developed countries. However, any outlook or assumption that we referred to or used to prepare our earnings target may prove inaccurate, particularly in light of the highly uncertain circumstances in which such outlook or assumption was made, and our earnings target may be revised or differ from the actual results to a significant extent depending on the actual timing of containment of the virus and the degree of its impact on the real economy, financial markets, etc., as well as on our business operations and financial condition.

We intend to continue to monitor developments relating to the pandemic and, as necessary, revise the earnings target.

øNotes

(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): Yes

(D) Restatements: No

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


(A) Total stocks outstanding including treasury stocks:	March 31, 2020	13,581,995,120 shares
	March 31, 2019	13,667,770,520 shares
(B) Treasury stocks:	March 31, 2020	741,363,277 shares
	March 31, 2019	745,316,531 shares
(C) Average outstanding stocks:	Fiscal year ended March 31, 2020	12,897,317,425 shares
	Fiscal year ended March 31, 2019	13,042,072,097 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			5
2. Basic Views on Selection of Accounting Standards			5
3. Consolidated Financial Statements and Notes			6
(1) Consolidated Balance Sheets			6
(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income			8
(3) Consolidated Statements of Changes in Net Assets			11
(4) Consolidated Statements of Cash Flows			13
Notes to the Consolidated Financial Statements			15
Notes on Going-Concern Assumption
Changes in Accounting Policies
New Accounting Pronouncement
Additional Information
Segment Information
Per Share Information

Supplemental Information:

“Selected Financial Information under Japanese GAAP For the Fiscal Year Ended March 31, 2020”

(*)	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, 2020 (Friday)
Explanation for investors and analysts:		May 20, 2020 (Wednesday)

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, 2020)

Consolidated gross profits for the fiscal year ended March 31, 2020 increased 260.5 billion yen from the previous fiscal year to 3,986.3 billion yen. This was due to increases in net gains on debt securities and fees and commissions due to consolidation of our overseas investees, partially offset by a decrease in net interest income, reflecting a decline in interest rates in the United States. General and administrative (G&A) expenses for the fiscal year ended March 31, 2020 increased 154.7 billion yen from the previous fiscal year to 2,801.8 billion yen, due to increases in expenses for overseas operations because of the expansion of business and expenses for regulatory compliance purposes. As a result, net operating profits increased 105.8 billion yen from the previous fiscal year to 1,184.4 billion yen.

Total credit costs for the fiscal year ended March 31, 2020 increased 217.1 billion yen from the previous fiscal year, mainly due to the lack of reversal of allowance recorded in the previous fiscal year as well as the provisions built for some credit in light of the impact of the COVID-19 pandemic. Net gains on equity securities decreased 81.2 billion yen from the previous fiscal year, mainly due to losses on write-down of equity securities. Other non-recurring losses decreased 87.4 billion yen from the previous fiscal year, mostly due to a decrease in cost of retirement benefits. As a result, ordinary profits for the fiscal year ended March 31, 2020 decreased 112.2 billion yen from the previous fiscal year to 1,235.7 billion yen. Net extraordinary losses for the fiscal year ended March 31, 2020 increased 203.6 billion yen, mainly due to a one-time amortization of goodwill associated with our overseas investees. As a result, profits attributable to owners of parent for the fiscal year ended March 31, 2020 was 528.1 billion yen, a decrease of 344.5 billion yen from the previous fiscal year.

Mitsubishi UFJ Financial Group, Inc.


(in billions of Japanese yen)	For the fiscal year ended March 31, 2020			For the fiscal year ended March 31, 2019			Increase (Decrease)
Gross profits before credit costs for trust accounts		3,986.3			3,725.7			260.5
General and administrative expenses		2,801.8			2,647.1			154.7
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		1,184.4			1,078.5			105.8
Total credit costs		(222.9	)		(5.8	)		(217.1	)
Net gains (losses) on equity securities		31.3			112.6			(81.2	)
Equity in earnings of equity method investees		277.2			284.3			(7.1	)
Other non-recurring gains (losses)		(34.2	)		(121.7	)		87.4
Ordinary profits		1,235.7			1,348.0			(112.2	)
Net extraordinary gains (losses)		(406.3	)		(202.7	)		(203.6	)
Total taxes		220.8			195.5			25.3
Profits attributable to non-controlling interests		80.3			77.0			3.3
Profits attributable to owners of parent		528.1			872.6			(344.5	)

(Impact of the COVID-19 pandemic on MUFG business)

The COVID-19 pandemic is expected to have a further impact on our business as economic and corporate activity deteriorates and the financial market remains volatile.

At present, the timing of containment of COVID-19 cannot be forecasted and the impact of the pandemic on the real economy is still uncertain. In preparing our earnings target of 550.0 billion yen in profits attributable to owners of parent for the Fiscal Year ending March 31, 2021 (Consolidated), referring in part to the baseline scenario in world economic outlook which the International Monetary Fund (IMF) released in April 2020, we assumed that economic activity will gradually resume from the second quarter of the Fiscal Year ending March 31, 2021 as the spread of COVID-19 declines and that economic conditions will recover to the level of calendar 2019 around the end of calendar 2020 globally, and around the end of calendar 2021 in developed countries. However, any outlook or assumption that we referred to or used to prepare our earnings target may prove inaccurate, particularly in light of the highly uncertain circumstances in which such outlook or assumption was made, and our earnings target may be revised or differ from the actual results to a significant extent depending on the actual timing of containment of the virus and the degree of its impact on the real economy, financial markets, etc., as well as on our business operations and financial condition.

We intend to continue to monitor developments relating to the pandemic and, as necessary, revise the earnings target.

Mitsubishi UFJ Financial Group, Inc.


	Major impact that may arise or be anticipated	Estimated impact on pre-tax profit*

Impact on net operating profits	• Decline in foreign currency interest income due to interest rate reductions in various markets and decline in long-term interest rates • Decrease in assets under custody or management due to falling stock prices in various markets	Approx. (300.0) billion yen
	• Decline in new investments and business transactions by customers due to deteriorating economic activity • Change in consumer spending and decreased investor appetite for investment in uncertain financial markets • Restrictions on our business activities, etc.

Impact on credit costs and net gains (losses) on equity securities etc.	• Increase in credit costs due to deterioration in the business performance of borrowers • Decline in gains (or increase in losses) on sales of securities • Decrease in equity earnings in equity method investees and deterioration in other non-recurring gains (losses), etc.	Approx. (300.0) billion yen

* The above figures illustrate some of the major items that we expect to affect pre-tax profit as a result of the COVID-19 pandemic. These effects as well as other COVID-19 pandemic related issues currently being considered by us have been taken into account in our earnings target for the Fiscal Year ending March 31, 2021 (Consolidated).

(Risks resulting from the COVID-19 pandemic)

Major risks that may have a material impact on investors’ decisions regarding the Group’s business, results of operations, etc. include those set forth below. These risks arise primarily from the COVID-19 pandemic continuing and measures being implemented in response to the pandemic, including restrictions on travel, store operations and other economic activities, in Japan and other countries and regions.

•

Risk of impairment or valuation losses due to declines in market value of securities and other assets held due to financial market turmoil or stagnation

•

Risk of an increase in non-performing loans and credit costs due to deterioration in borrowers’ business performance

•

Risk of declining profits due to deterioration in the creditworthiness of counterparties in market transactions

•

Risk of declining profitability, reduction in foreign currency funding liquidity, increase in foreign currency funding costs, increase in risk assets, and decrease in customers’ assets under custody or management due to such factors as deterioration in the economy, volatility or stagnation of financial markets, and changes in monetary policies of various jurisdictions.

•

Risk of suspension of or delay in all or part of our operations, inability to implement business strategic measures or respond to changes in the market or regulatory environment as planned, and incurring additional costs, including those incurred for preventive measures, as a result of the closure of some of our business locations, restrictions on travel, or measures implemented to ensure the safety of our employees or vendors.

•

Risk of temporary or longer-term suspension of or delay in all or part of our operations as a result of a concentrated group of employees or vendors being affected.

Mitsubishi UFJ Financial Group, Inc.

(2) Analysis of financial condition

Total assets as of March 31, 2020 increased 25,432.4 billion yen from March 31, 2019 to 336,571.3 billion yen, and total net assets as of March 31, 2020 decreased 405.9 billion yen from March 31, 2019 to 16,855.7 billion yen. The decrease in total net assets was mainly due to decreases in non-controlling interest and net unrealized gains on available-for-sale securities.

With regard to major items of assets, loans and bills discounted as of March 31, 2020 increased 1,702.1 billion yen from March 31, 2019 to 109,114.6 billion yen and securities as of March 31, 2020 increased 1,292.6 billion yen from March 31, 2019 to 65,555.1 billion yen. With regard to major items of liabilities, deposits as of March 31, 2020 increased 7,452.2 billion yen from March 31, 2019 to 187,623.5 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, 2019			As of March 31, 2020
Assets:
Cash and due from banks		74,206,895			78,335,634
Call loans and bills bought		451,668			727,598
Receivables under resale agreements		10,868,179			24,104,564
Receivables under securities borrowing transactions		2,739,363			3,464,533
Monetary claims bought		7,254,708			6,583,403
Trading assets		16,126,188			20,250,172
Money held in trust		912,961			1,046,323
Securities		64,262,463			65,555,127
Loans and bills discounted		107,412,468			109,114,612
Foreign exchanges		2,134,807			1,741,290
Other assets		12,838,412			13,900,403
Tangible fixed assets		1,335,972			1,319,789
Buildings		361,580			341,984
Land		674,285			680,425
Lease assets		15,078			19,811
Construction in progress		33,618			34,733
Other tangible fixed assets		251,409			242,834
Intangible fixed assets		1,136,530			1,498,407
Software		513,231			552,291
Goodwill		237,310			283,672
Lease assets		198			22
Other intangible fixed assets		385,790			662,421
Net defined benefit assets		824,007			712,206
Deferred tax assets		104,451			127,516
Customers’ liabilities for acceptances and guarantees		9,241,062			8,830,436
Allowance for credit losses		(711,236	)		(740,641	)

Total assets		311,138,903			336,571,379

Mitsubishi UFJ Financial Group, Inc.


(in millions of yen)	As of March 31, 2019			As of March 31, 2020
Liabilities:
Deposits		180,171,279			187,623,551
Negotiable certificates of deposit		9,413,420			7,787,524
Call money and bills sold		2,465,093			3,671,100
Payables under repurchase agreements		25,112,121			31,692,711
Payables under securities lending transactions		903,219			1,058,042
Commercial papers		2,316,338			2,162,329
Trading liabilities		11,624,122			14,067,826
Borrowed money		16,268,170			24,651,574
Foreign exchanges		2,271,145			2,223,010
Short-term bonds payable		793,999			962,295
Bonds payable		12,179,680			13,464,472
Due to trust accounts		10,282,227			9,798,688
Other liabilities		9,452,717			10,407,459
Reserve for bonuses		79,236			110,964
Reserve for bonuses to directors		689			1,446
Reserve for stocks payment		10,814			11,298
Net defined benefit liabilities		59,540			86,547
Reserve for retirement benefits to directors		1,058			1,058
Reserve for loyalty award credits		17,606			31,247
Reserve for contingent losses		265,707			206,029
Reserves under special laws		4,263			4,269
Deferred tax liabilities		829,418			754,111
Deferred tax liabilities for land revaluation		114,292			107,641
Acceptances and guarantees		9,241,062			8,830,436

Total liabilities		293,877,225			319,715,640

Net assets:
Capital stock		2,141,513			2,141,513
Capital surplus		1,034,641			980,102
Retained earnings		10,640,655			10,855,798
Treasury stock		(516,649	)		(505,518	)

Total shareholders’ equity		13,300,160			13,471,894

Net unrealized gains (losses) on available—for-sale securities		2,249,231			2,066,363
Net deferred gains (losses) on hedging instruments		122,516			189,342
Land revaluation excess		167,681			158,633
Foreign currency translation adjustments		339,713			300,838
Remeasurements of defined benefit plans		(4,729	)		(159,766	)
Debt value adjustments of foreign subsidiaries and affiliates		4,702			(36,470	)

Total accumulated other comprehensive income		2,879,115			2,518,940

Subscription rights to shares		217			59
Non-controlling interests		1,082,184			864,844

Total net assets		17,261,677			16,855,738

Total liabilities and net assets		311,138,903			336,571,379

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, 2019		For the fiscal year ended March 31, 2020
Ordinary income		6,697,402		7,299,078
Interest income		3,732,203		3,841,301
Interest on loans and bills discounted		2,353,452		2,363,562
Interest and dividends on securities		685,681		692,854
Interest on call loans and bills bought		10,050		11,125
Interest on receivables under resale agreements		122,455		222,843
Interest on receivables under securities borrowing transactions		20,833		26,707
Interest on deposits		183,081		160,027
Other interest income		356,647		364,181
Trust fees		125,385		130,829
Fees and commissions		1,523,527		1,577,596
Trading income		218,212		203,724
Other operating income		382,491		912,686
Other ordinary income		715,583		632,939
Reversal of allowance for credit losses		15,053		—
Gains on loans written-off		67,063		95,275
Others		633,467		537,664
Ordinary expenses		5,349,359		6,063,308
Interest expenses		1,809,580		1,948,484
Interest on deposits		578,379		689,461
Interest on negotiable certificates of deposit		139,687		151,788
Interest on call money and bills sold		3,885		3,471
Interest on payables under repurchase agreements		312,065		341,923
Interest on payables under securities lending transactions		3,497		2,543
Interest on commercial papers		54,655		58,751
Interest on borrowed money		60,485		69,051
Interest on short-term bonds payable		0		8
Interest on bonds payable		250,560		298,960
Other interest expenses		406,363		332,523
Fees and commissions		219,573		236,329
Trading expenses		2,046		42,267
Other operating expenses		225,052		452,903
General and administrative expenses		2,688,047		2,793,921
Other ordinary expenses		405,058		589,401
Provision for allowance for credit losses		—		130,101
Others		405,058		459,299

Ordinary profits		1,348,043		1,235,770

Mitsubishi UFJ Financial Group, Inc.


(in millions of yen)	For the fiscal year ended March 31, 2019		For the fiscal year ended March 31, 2020
Extraordinary gains		17,797		49,896
Gains on disposition of fixed assets		16,096		16,328
Gains on sales of shares of subsidiaries		—		31,462
Gains on step acquisitions		—		2,105
Reversal of reserve for contingent liabilities from financial instruments transactions		56		—
Gains on liquidation of subsidiaries		1,645		—
Extraordinary losses		220,513		456,223
Losses on disposition of fixed assets		9,456		14,658
Losses on impairment of fixed assets		184,692		65,786
Provision for reserve for contingent liabilities from financial instruments transactions		—		5
Losses on change in equity		15,223		21,311
Losses on sales of shares of subsidiaries		—		3,546
Losses on sales of shares of affiliates		11,140		7,546
Amortization of goodwill		—		343,368

Profits before income taxes		1,145,327		829,443

Income taxes-current		189,195		189,231
Income taxes-deferred		6,373		31,668

Total taxes		195,568		220,899

Profits		949,758		608,543

Profits attributable to non-controlling interests		77,069		80,392

Profits attributable to owners of parent		872,689		528,151

Mitsubishi UFJ Financial Group, Inc.

Consolidated Statements of Comprehensive Income


(in millions of yen)	For the fiscal year ended March 31, 2019			For the fiscal year ended March 31, 2020
Profits		949,758			608,543
Other comprehensive income
Net unrealized gains (losses) on available-for-sale securities		(125,622	)		(221,966	)
Net deferred gains (losses) on hedging instruments		63,366			71,314
Land revaluation excess		—			36
Foreign currency translation adjustments		(82,475	)		(2,681	)
Remeasurements of defined benefit plans		(73,141	)		(154,532	)
Share of other comprehensive income of associates accounted for using equity method		(44,893	)		(29,257	)

Total other comprehensive income		(262,766	)		(337,087	)

Comprehensive income		686,992			271,456

(Comprehensive income attributable to)
Comprehensive income attributable to owners of parent		615,166			177,138
Comprehensive income attributable to non-controlling interests		71,825			94,317

Mitsubishi UFJ Financial Group, Inc.

(3) Consolidated Statements of Changes in Net Assets

For the fiscal year ended March 31, 2019


	(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		1,196,803			10,064,649			(522,158	)		12,880,807			2,388,234			59,360
Cumulative effects due to revision of accounting standards for foreign subsidiaries and affiliates							(2,723	)					(2,723	)		(844	)
Restated balance		2,141,513		1,196,803			10,061,926			(522,158	)		12,878,084			2,387,390			59,360
Changes during the period
Cash dividends							(276,249	)					(276,249	)
Profits attributable to owners of parent							872,689						872,689
Repurchase of treasury stock										(160,985	)		(160,985	)
Disposal of treasury stock				(0	)					3,775			3,774
Retirement of treasury stock				(162,720	)					162,720			—
Reversal of land revaluation excess							2,557						2,557
Changes of application of equity method							(20,269	)					(20,269	)
Changes in subsidiaries’ equity				557									557
Net changes of items other than shareholders’ equity																(138,159	)		63,155

Total changes during the period		—		(162,162	)		578,729			5,509			422,075			(138,159	)		63,155

Balance at the end of the period		2,141,513		1,034,641			10,640,655			(516,649	)		13,300,160			2,249,231			122,516


	(in millions of yen)
	Accumulated other comprehensive income
	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		170,239			499,557			62,182			(35,743	)		3,143,832			274			1,270,123			17,295,037
Cumulative effects due to revision of accounting standards for foreign subsidiaries and affiliates														(844	)								(3,568	)
Restated balance		170,239			499,557			62,182			(35,743	)		3,142,987			274			1,270,123			17,291,469
Changes during the period
Cash dividends																							(276,249	)
Profits attributable to owners of parent																							872,689
Repurchase of treasury stock																							(160,985	)
Disposal of treasury stock																							3,774
Retirement of treasury stock																							—
Reversal of land revaluation excess																							2,557
Changes of application of equity method																							(20,269	)
Changes in subsidiaries’ equity																							557
Net changes of items other than shareholders’ equity		(2,557	)		(159,844	)		(66,912	)		40,446			(263,871	)		(56	)		(187,939	)		(451,867	)

Total changes during the period		(2,557	)		(159,844	)		(66,912	)		40,446			(263,871	)		(56	)		(187,939	)		(29,791	)

Balance at the end of the period		167,681			339,713			(4,729	)		4,702			2,879,115			217			1,082,184			17,261,677

Mitsubishi UFJ Financial Group, Inc.

For the fiscal year ended March 31, 2020


	(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		1,034,641			10,640,655			(516,649	)		13,300,160			2,249,231			122,516
Cumulative effects of changes in accounting policies							(17,550	)					(17,550	)
Restated balance		2,141,513		1,034,641			10,623,105			(516,649	)		13,282,610			2,249,231			122,516
Changes during the period
Cash dividends							(304,543	)					(304,543	)
Profits attributable to owners of parent							528,151						528,151
Repurchase of treasury stock										(50,022	)		(50,022	)
Disposal of treasury stock				(752	)					2,527			1,774
Retirement of treasury stock				(58,625	)					58,625			—
Reversal of land revaluation excess							9,084						9,084
Changes in subsidiaries’ equity				4,839									4,839
Net changes of items other than shareholders’ equity																(182,867	)		66,825

Total changes during the period		—		(54,538	)		232,692			11,130			189,284			(182,867	)		66,825

Balance at the end of the period		2,141,513		980,102			10,855,798			(505,518	)		13,471,894			2,066,363			189,342


	(in millions of yen)
	Accumulated other comprehensive income
	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		167,681			339,713			(4,729	)		4,702			2,879,115			217			1,082,184			17,261,677
Cumulative effects of changes in accounting policies																							(17,550	)
Restated balance		167,681			339,713			(4,729	)		4,702			2,879,115			217			1,082,184			17,244,127
Changes during the period
Cash dividends																							(304,543	)
Profits attributable to owners of parent																							528,151
Repurchase of treasury stock																							(50,022	)
Disposal of treasury stock																							1,774
Retirement of treasury stock																							—
Reversal of land revaluation excess																							9,084
Changes in subsidiaries’ equity																							4,839
Net changes of items other than shareholders’ equity		(9,048	)		(38,874	)		(155,036	)		(41,173	)		(360,175	)		(157	)		(217,340	)		(577,673	)

Total changes during the period		(9,048	)		(38,874	)		(155,036	)		(41,173	)		(360,175	)		(157	)		(217,340	)		(388,388	)

Balance at the end of the period		158,633			300,838			(159,766	)		(36,470	)		2,518,940			59			864,844			16,855,738

Mitsubishi UFJ Financial Group, Inc.

(4) Consolidated Statements of Cash Flows


(in millions of yen)	For the fiscal year ended March 31, 2019			For the fiscal year ended March 31, 2020
Cash flows from operating activities:
Profits before income taxes		1,145,327			829,443
Depreciation and amortization		322,770			330,371
Impairment losses		184,692			65,786
Amortization of goodwill		17,431			372,920
Equity in losses (gains) of equity method investees		(284,389	)		(277,221	)
Increase (decrease) in allowance for credit losses		(83,641	)		20,148
Increase (decrease) in reserve for bonuses		(5,206	)		8,086
Increase (decrease) in reserve for bonuses to directors		68			5
Increase (decrease) in reserve for stocks payment		(792	)		484
Decrease (increase) in net defined benefit assets		(89,588	)		49,212
Increase (decrease) in net defined benefit liabilities		1,132			4,109
Increase (decrease) in reserve for retirement benefits to directors		(30	)		(0	)
Increase (decrease) in reserve for loyalty award credits		(124	)		12,519
Increase (decrease) in reserve for contingent losses		(51,235	)		(59,390	)
Interest income recognized on statement of income		(3,732,203	)		(3,841,301	)
Interest expenses recognized on statement of income		1,809,580			1,948,484
Losses (gains) on securities		(131,439	)		(544,698	)
Losses (gains) on money held in trust		837			(8,476	)
Foreign exchange losses (gains)		(259,172	)		847,932
Losses (gains) on sales of fixed assets		(6,639	)		(1,669	)
Net decrease (increase) in trading assets		(1,207,299	)		(4,120,479	)
Net increase (decrease) in trading liabilities		928,496			2,384,310
Adjustment of unsettled trading accounts		342,532			(240,582	)
Net decrease (increase) in loans and bills discounted		116,865			(227,530	)
Net increase (decrease) in deposits		3,352,158			6,503,304
Net increase (decrease) in negotiable certificates of deposit		(438,845	)		(1,623,847	)
Net increase (decrease) in borrowed money (excluding subordinated borrowings)		63,519			8,353,562
Net decrease (increase) in call loans and bills bought and others		(6,928,266	)		(12,772,206	)
Net decrease (increase) in receivables under securities borrowing transactions		6,443,287			(719,976	)
Net increase (decrease) in call money and bills sold and others		7,350,286			7,697,173
Net increase (decrease) in commercial papers		149,537			(158,147	)
Net increase (decrease) in payables under securities lending transactions		(7,231,076	)		151,607
Net decrease (increase) in foreign exchanges (assets)		803,375			477,953
Net increase (decrease) in foreign exchanges (liabilities)		235,037			(48,568	)
Net increase (decrease) in short-term bonds payable		(53,300	)		168,295
Net increase (decrease) in issuance and redemption of unsubordinated bonds payable		1,288,395			704,633
Net increase (decrease) in due to trust accounts		(100,251	)		(483,538	)
Interest income (cash basis)		3,741,110			3,970,441
Interest expenses (cash basis)		(1,762,774	)		(1,965,180	)
Others		(7,248	)		395,291

Sub-total		5,922,916			8,203,259

Income taxes		(346,496	)		(228,784	)
Refund of income taxes		32,884			86,365

Net cash provided by (used in) operating activities		5,609,305			8,060,840

Mitsubishi UFJ Financial Group, Inc.


(in millions of yen)	For the fiscal year ended March 31, 2019			For the fiscal year ended March 31, 2020
Cash flows from investing activities:
Purchases of securities		(65,103,588	)		(90,417,706	)
Proceeds from sales of securities		33,033,639			64,642,308
Proceeds from redemption of securities		26,809,238			23,887,868
Payments for increase in money held in trust		(570,030	)		(810,487	)
Proceeds from decrease in money held in trust		600,105			701,517
Purchases of tangible fixed assets		(142,393	)		(127,176	)
Purchases of intangible fixed assets		(286,200	)		(318,853	)
Proceeds from sales of tangible fixed assets		33,447			70,574
Proceeds from sales of intangible fixed assets		622			1,922
Payments for acquisition of businesses		—			(559,561	)
Payments for acquisition of subsidiaries’ equity affecting the scope of consolidation		(1,106	)		(494,920	)
Proceeds from sales of subsidiaries’ equity affecting the scope of consolidation		—			58,701
Others		(1,282	)		(2,631	)

Net cash provided by (used in) investing activities		(5,627,546	)		(3,368,444	)

Cash flows from financing activities:
Proceeds from subordinated borrowings		55,000			31,720
Repayments of subordinated borrowings		(173,119	)		(67,945	)
Proceeds from issuance of subordinated bonds payable and bonds with warrants		376,800			586,670
Payments for redemption of subordinated bonds payable and bonds with warrants		(47,020	)		(90,241	)
Proceeds from issuance of common stock to non-controlling shareholders		7,493			3,823
Payments for redemption of preferred securities		(222,000	)		(330,000	)
Dividends paid by MUFG		(276,279	)		(304,535	)
Dividends paid by subsidiaries to non-controlling shareholders		(49,431	)		(42,331	)
Purchases of treasury stock		(159,903	)		(50,022	)
Proceeds from sales of treasury stock		4,141			2,291
Payments for purchases of subsidiaries’ equity not affecting the scope of consolidation		(38	)		(6,494	)
Proceeds from sales of subsidiaries’ equity not affecting the scope of consolidation		—			15,401

Net cash provided by (used in) financing activities		(484,359	)		(251,664	)

Effect of foreign exchange rate changes on cash and cash equivalents		(4,192	)		(311,992	)

Net increase (decrease) in cash and cash equivalents		(506,793	)		4,128,739

Cash and cash equivalents at the beginning of the period		74,713,689			74,206,895

Cash and cash equivalents at the end of the period		74,206,895			78,335,634

Mitsubishi UFJ Financial Group, Inc.

Notes to the Consolidated Financial Statements

(Notes on Going-Concern Assumption)

None.

(Changes in Accounting Policies)

(Accounting Standard for Fair Value Measurement)

Accounting Standards Board of Japan (“ASBJ”) Statement No. 30, “Accounting Standard for Fair Value Measurement” (ASBJ, July 4, 2019; hereinafter referred to as “Accounting Standard for Fair Value Measurement”) and ASBJ Guidance No. 31, “Implementation Guidance on Accounting Standard for Fair Value Measurement” (ASBJ, July 4, 2019), are applied for the end of the current fiscal year. In accordance with Paragraph 8 of “Accounting Standard for Fair Value Measurement”, the risk adjustment method used to determine the fair value of derivatives is revised to maximize the use of relevant observable inputs estimated from derivatives traded in the market. This revision is due to the application of “Accounting Standard for Fair Value Measurement”. In accordance with the transitional measures set forth in Paragraph 20 of “Accounting Standard for Fair Value Measurement”, the cumulative effect of applying the new accounting policy retroactively prior to the beginning of the current fiscal year is reflected in the retained earnings at the beginning of the current fiscal year, and the new accounting policy is applied from the beginning of the current fiscal year as a change in the accounting policy.

As a result, retained earnings at the beginning of the current fiscal year decreased by ¥20,533 million, trading assets decreased by ¥17,428 million, other assets decreased by ¥5,509 million, trading liabilities increased by ¥4,083 million, other liabilities increased by ¥1,680 million, and net assets per share decreased by ¥1.58.

(New Accounting Pronouncement)

(Accounting Standards Update (“ASU”) 2016-13, Measurement of Credit Losses on Financial Instruments)

(1) Summary

The Financial Accounting Standards Boards (“FASB”) issued new guidance “Measurement of Credit Losses on Financial Instruments” on June 16, 2016. It replaces the incurred loss impairment methodology in current U.S. GAAP with a methodology that reflects the expected credit losses across the all term for the reported amount of the financial asset measured at amortized cost basis.

(2) Effective date

The MUFG Group will adopt the guidance at the beginning of fiscal year 2020 where financial statements of some foreign subsidiaries are prepared in accordance with U.S. GAAP.

(3) Impact of amount

It resulted in an increase in the allowance for credit losses of approximately ¥170 billion and decrease in the retained earnings of approximately ¥120 billion on April 1, 2020.

(Additional Information)

(Major overseas subsidiaries’ credit costs which will be reflected to MUFG’s consolidated financial statements in the first quarter of fiscal year 2020)

Major overseas subsidiaries which were consolidated based on their financial statements as of their balance sheet date, December 31, 2019, adopted the new guidance ASU 2016-13, which introduced the concept of current expected credit loss. Mainly due to the outbreak of COVID-19, their credit costs (provision for allowance for credit losses, write-offs of loans and provision for reserve for contingent losses) increased in the first quarter of fiscal year 2020 (from January to March) and will be expected approximately ¥90 billion in total based on the current estimate. These credit costs will be included in the first quarter of fiscal year 2020 in MUFG’s consolidated financial statements.

Mitsubishi UFJ Financial Group, Inc.

(Segment Information)

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

For the Fiscal Year Ended March 31, 2020


	(in millions of yen)
	Retail & Commercial Banking Business Group		Japanese Corporate & Investment Banking Business Group		Global Corporate & Investment Banking Business Group		Global Commercial Banking Business Group		Asset Management & Investor Services Business Group		Total of Customer Business		Global Markets Business Group		Other			Total
Net revenue		1,501,624		551,143		376,831		804,595		242,974		3,477,169		575,175		15,623			4,067,968
Operating expenses		1,203,003		315,817		247,862		571,836		171,705		2,510,225		232,131		150,642			2,892,999
Operating profit (loss)		298,621		235,326		128,969		232,758		71,268		966,943		343,044		(135,019	)		1,174,969

(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.

Assets and liabilities of each reporting segment are not reported since MUFG does not allocate assets and liabilities among the segments for internal management purposes.

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, 2020
Total operating profit of reporting segments		1,174,969
Operating profit of consolidated subsidiaries excluded from reporting segments		12,704
Provision for general allowance for credit losses		(111,408	)
Credit related expenses		(214,966	)
Gains on reversal of reserve for contingent losses included in credit costs		8,148
Gains on loans written-off		95,275
Net gains on equity securities and other securities		31,339
Equity in earnings of equity method investees		277,221
Others		(37,513	)
Ordinary profit in the consolidated statement of income		1,235,770

Mitsubishi UFJ Financial Group, Inc.

(Per Share Information)


	For the fiscal year ended March 31, 2020
Total equity per common share		¥1,245.33
Basic earnings per common share		¥40.95
Diluted earnings per common share		¥40.70

(Notes)

1.	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, 2020
Basic earnings per common share
Profits attributable to owners of parent	million yen	528,151
Profits not attributable to common shareholders	million yen	—
Profits attributable to common shareholders of parent	million yen	528,151
Average number of common shares during the period	thousand shares	12,897,317
Diluted earnings per common share
Adjustment to profits attributable to owners of parent	million yen	(3,155)
Adjustment related to dilutive shares of consolidated subsidiaries and others	million yen	(3,155)
Increase in common shares	thousand shares	166
Subscription rights to shares	thousand shares	166
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 - 1 million units as of December 31, 2019

2. The bases for the calculation of total equity per common share for the period indicated were as follows:
		As of March 31, 2020
Total equity	million yen	16,855,738
Deductions from total equity:	million yen	864,904
Subscription rights to shares	million yen	59
Non-controlling interests	million yen	864,844
Total equity attributable to common shares	million yen	15,990,834
Number of common shares at period end used for the calculation of total equity per common share	thousand shares	12,840,631

Selected Financial Information

under Japanese GAAP

For the Fiscal Year Ended March 31, 2020


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. Risk-Monitored Loans	[ MUFG Consolidated ] [ BK Non-consolidated ][ TB Non-consolidated ] [ TB Non-consolidated : Trust Account ]	14

8. Non Performing Loans Based on the Financial Reconstruction Law (the “FRL”)	[ BK and TB Combined including Trust Account ] [ BK Non-consolidated ][ TB Non-consolidated ] [ TB Non-consolidated : Trust Account ]	18

9. Progress in Disposition of Problem Assets	[ BK Non-consolidated ] [ TB Non-consolidated including Trust Account ]	23

10. Loans Classified by Type of Industry, Domestic Consumer Loans, Domestic Loans to Small/Medium-Sized Companies and Proprietors	[ BK and TB Combined including Trust Accounts ] [ BK Non-consolidated ][ TB Non-consolidated ] [ TB Non-consolidated : Trust Accounts ]	25

11. Overseas Loans	[ BK Consolidated excl. MUAH, KS, BDI ]56*7	29

12. Loans and Deposits	[ BK and TB Combined ] [ BK Non-consolidated ][ TB Non-consolidated ]	30

13. Domestic Deposits	[ BK and TB Combined ] [ BK Non-consolidated ][ TB Non-consolidated ]	31

14. Status of Deferred Tax Assets	[ BK Non-consolidated ][ TB Non-consolidated ]	32

15. Retirement Benefits	[ MUFG Consolidated ] [ BK Non-consolidated ][ TB Non-consolidated ]	34

(References)

1. Financial Statements	[ BK Non-consolidated ][ TB Non-consolidated ]	37

(*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)	“MUAH” means MUFG Americas Holdings Corporation.

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

(*7)	“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, 2020 (A)			March 31, 2019 (B)			(Decrease) (A) - (B)
Gross profits		3,986,304			3,725,720			260,584
Gross profits before credit costs for trust accounts		3,986,304			3,725,720			260,583
Net interest income		1,892,967			1,922,776			(29,808	)
Trust fees		130,829			125,385			5,444
Credit costs for trust accounts (1)		0			—			0
Net fees and commissions		1,341,266			1,303,954			37,312
Net trading profits		161,457			216,165			(54,708	)
Net other operating profits		459,783			157,438			302,344
Net gains (losses) on debt securities		492,989			29,977			463,012
General and administrative expenses		2,801,858			2,647,137			154,720
Amortization of goodwill		29,551			17,431			12,120
Net operating profits before credit costs for trust accounts, provision for general allowance for credit losses and amortization of goodwill		1,213,997			1,096,013			117,983
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		1,184,445			1,078,582			105,863
Provision for general allowance for credit losses (2)		(111,408	)		—			(111,408	)
Net operating profits*		1,073,037			1,078,582			(5,545	)
Net non-recurring gains (losses)		162,733			269,461			(106,728	)
Credit costs (3)		(214,966	)		(143,006	)		(71,959	)
Losses on loan write-offs		(179,213	)		(154,941	)		(24,272	)
Provision for specific allowance for credit losses		(18,237	)		—			(18,237	)
Other credit costs		(17,514	)		11,935			(29,449	)
Reversal of allowance for credit losses (4)		—			15,053			(15,053	)
Reversal of reserve for contingent losses included in credit costs (5)		8,148			55,064			(46,915	)
Gains on loans written-off (6)		95,275			67,063			28,212
Net gains (losses) on equity securities		31,339			112,602			(81,262	)
Gains on sales of equity securities		166,710			203,481			(36,770	)
Losses on sales of equity securities		(74,552	)		(77,486	)		2,933
Losses on write-down of equity securities		(60,817	)		(13,392	)		(47,425	)
Equity in earnings of equity method investees		277,221			284,389			(7,167	)
Other non-recurring gains (losses)		(34,286	)		(121,704	)		87,418

Ordinary profits		1,235,770			1,348,043			(112,273	)

Net extraordinary gains (losses)		(406,326	)		(202,715	)		(203,611	)
Losses on impairment of fixed assets		(65,786	)		(184,692	)		118,906
Losses on change in equity		(21,311	)		(15,223	)		(6,087	)
Amortization of goodwill		(343,368	)		—			(343,368	)
Gains on sales of shares of subsidiaries		31,462			—			31,462
Profits before income taxes		829,443			1,145,327			(315,884	)
Income taxes-current		189,231			189,195			36
Income taxes-deferred		31,668			6,373			25,294
Total taxes		220,899			195,568			25,330
Profits		608,543			949,758			(341,215	)
Profits attributable to non-controlling interests		80,392			77,069			3,323

Profits attributable to owners of parent		528,151			872,689			(344,538	)


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)		(222,950	)		(5,826	)		(217,124	)

Number of consolidated subsidiaries		251			222			29
Number of affiliated companies accounted for under the equity method		54			55			(1	)

Mitsubishi UFJ Financial Group, Inc.

BK and TB Combined


	(in millions of yen)
	For the fiscal year ended						Increase (Decrease) (A) - (B)
	March 31, 2020 (A)			March 31, 2019 (B)			Increase (Decrease) (A) - (B)
Gross profits		1,878,061			1,861,006			17,055
Gross profits before credit costs for trust accounts		1,878,061			1,861,006			17,054
Domestic gross profits		1,175,757			1,242,864			(67,106	)
Net interest income		638,182			773,025			(134,843	)
Trust fees		104,361			99,258			5,102
Credit costs for trust accounts (1)		0			—			0
Net fees and commissions		341,116			337,704			3,411
Net trading profits		10,149			21,580			(11,430	)
Net other operating profits		81,948			11,295			70,652
Net gains (losses) on debt securities		67,069			29,426			37,642
Non-domestic gross profits		702,304			618,142			84,162
Net interest income		292,159			372,184			(80,024	)
Net fees and commissions		159,914			183,941			(24,027	)
Net trading profits		11,641			14,696			(3,054	)
Net other operating profits		238,588			47,320			191,268
Net gains (losses) on debt securities		420,698			4,824			415,873
General and administrative expenses		1,340,421			1,328,014			12,406
Personnel expenses		445,201			455,367			(10,166	)
Non-personnel expenses		819,030			796,293			22,736
Taxes		76,189			76,353			(163	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		537,640			532,991			4,648
Provision for general allowance for credit losses (2)		—			—			—
Net operating profits		537,640			532,991			4,648
Net non-recurring gains (losses)		72,120			205,992			(133,871	)
Credit costs (3)		(45,684	)		(26,996	)		(18,688	)
Losses on loan write-offs		(28,918	)		(37,554	)		8,636
Provision for specific allowance for credit losses		—			—			—
Other credit costs		(16,765	)		10,558			(27,324	)
Reversal of allowance for credit losses (4)		18,859			80,495			(61,636	)
Reversal of reserve for contingent losses included in credit costs (5)		4,861			57,650			(52,789	)
Gains on loans written-off (6)		34,602			18,721			15,881
Net gains (losses) on equity securities		28,186			105,432			(77,245	)
Gains on sales of equity securities		165,853			196,107			(30,253	)
Losses on sales of equity securities		(74,627	)		(77,337	)		2,709
Losses on write-down of equity securities		(63,039	)		(13,338	)		(49,701	)
Other non-recurring gains (losses)		31,295			(29,310	)		60,606

Ordinary profits		609,761			738,983			(129,222	)

Net extraordinary gains (losses)		(997,014	)		156,193			(1,153,207	)
Net gains (losses) on disposition of fixed assets		3,368			3,236			131
Losses on impairment of fixed assets		(31,917	)		(32,278	)		360
Losses on write-down of shares of subsidiaries		(923,076	)		—			(923,076	)
Losses on write-down of shares of affiliates		(54,314	)		—			(54,314	)
Gains on sales of shares of subsidiaries		—			170,955			(170,955	)
Income before income taxes		(387,252	)		895,177			(1,282,430	)
Income taxes-current		128,448			93,917			34,531
Income taxes-deferred		24,290			42,908			(18,618	)
Total taxes		152,739			136,825			15,913

Net income		(539,991	)		758,351			(1,298,343	)


(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		12,639			129,871			(117,231	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities		49,872			498,740			(448,867	)
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		50,157			474,095			(423,938	)

Mitsubishi UFJ Financial Group, Inc.

BK Consolidated


	(in millions of yen)
	For the fiscal year ended						Increase (Decrease) (A) - (B)
	March 31, 2020 (A)			March 31, 2019 (B)			Increase (Decrease) (A) - (B)
Gross profits		2,741,881			2,498,541			243,339
Net interest income		1,605,029			1,606,590			(1,560	)
Trust fees		12,810			13,071			(261	)
Net fees and commissions		701,617			698,607			3,010
Net trading profits		43,290			42,946			343
Net other operating profits		379,134			137,326			241,807
Net gains (losses) on debt securities		483,799			32,929			450,869
General and administrative expenses		1,921,857			1,818,572			103,284
Amortization of goodwill		25,219			16,344			8,874
Net operating profits before provision for general allowance for credit losses and amortization of goodwill		845,243			696,313			148,929
Net operating profits before provision for general allowance for credit losses		820,023			679,969			140,054
Provision for general allowance for credit losses (1)		(107,866	)		—			(107,866	)
Net operating profits*		712,157			679,969			32,188
Net non-recurring gains (losses)		(214	)		171,272			(171,486	)
Credit costs (2)		(109,577	)		(56,424	)		(53,153	)
Losses on loan write-offs		(92,415	)		(68,357	)		(24,058	)
Provision for specific allowance for credit losses		352			—			352
Other credit costs		(17,514	)		11,932			(29,446	)
Reversal of allowance for credit losses (3)		—			32,918			(32,918	)
Reversal of reserve for contingent losses included in credit costs (4)		8,192			55,206			(47,013	)
Gains on loans written-off (5)		73,713			46,773			26,939
Net gains (losses) on equity securities		15,018			128,793			(113,775	)
Gains on sales of equity securities		123,577			165,428			(41,851	)
Losses on sales of equity securities		(53,215	)		(23,842	)		(29,372	)
Losses on write-down of equity securities		(55,344	)		(12,792	)		(42,551	)
Equity in earnings of equity method investees		(2,468	)		14,401			(16,870	)
Other non-recurring gains (losses)		14,908			(50,395	)		65,303

Ordinary profits		711,942			851,241			(139,298	)

Net extraordinary gains (losses)		(371,551	)		(38,822	)		(332,729	)
Net gains (losses) on disposition of fixed assets		3,770			(1,946	)		5,717
Losses on impairment of fixed assets		(58,849	)		(30,756	)		(28,093	)
Amortization of goodwill		(359,323	)		—			(359,323	)
Gains on sales of shares of subsidiaries		31,462			—			31,462
Profits before income taxes		340,391			812,419			(472,027	)
Income taxes-current		196,788			155,166			41,622
Income taxes-deferred		4,047			1,875			2,172
Total taxes		200,836			157,041			43,794
Profits		139,555			655,377			(515,822	)
Profits attributable to non-controlling interests		41,634			42,940			(1,306	)

Profits attributable to owners of parent		97,921			612,437			(514,516	)


Note:
* 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

(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)		(135,538	)		78,473			(214,011	)

Number of consolidated subsidiaries		121			127			(6	)
Number of affiliated companies accounted for under the equity method		42			44			(2	)

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated


	(in millions of yen)
	For the fiscal year ended						Increase
	March 31, 2020 (A)			March 31, 2019 (B)			(Decrease) (A) - (B)
Gross profits		1,546,255			1,535,365			10,889
Domestic gross profits		918,088			974,088			(56,000	)
Net interest income		571,682			693,753			(122,070	)
Net fees and commissions		248,564			248,314			249
Net trading profits		2,039			753			1,286
Net other operating profits		95,801			31,267			64,533
Net gains (losses) on debt securities		73,609			24,620			48,988
Non-domestic gross profits		628,167			561,276			66,890
Net interest income		246,112			317,311			(71,198	)
Net fees and commissions		157,450			182,190			(24,740	)
Net trading profits		10,434			8,101			2,333
Net other operating profits		214,169			53,672			160,497
Net gains (losses) on debt securities		404,863			11,867			392,995
General and administrative expenses		1,150,980			1,146,952			4,027
Personnel expenses		385,391			395,599			(10,207	)
Non-personnel expenses		698,542			683,359			15,183
Amortization of goodwill		825			356			469
Taxes		67,046			67,994			(948	)
Net operating profits before provision for general allowance for credit losses and amortization of goodwill		396,100			388,768			7,331
Net operating profits before provision for general allowance for credit losses		395,274			388,412			6,862
Provision for general allowance for credit losses (1)		—			—			—
Net operating profits		395,274			388,412			6,862
Net non-recurring gains (losses)		63,909			236,052			(172,142	)
Credit costs (2)		(45,675	)		(25,813	)		(19,862	)
Reversal of allowance for credit losses (3)		18,072			77,991			(59,918	)
Reversal of reserve for contingent losses included in credit costs (4)		4,831			57,650			(52,818	)
Gains on loans written-off (5)		34,590			18,714			15,875
Net gains (losses) on equity securities		11,157			126,854			(115,696	)
Gains on sales of equity securities		119,616			162,333			(42,716	)
Losses on sales of equity securities		(52,959	)		(23,096	)		(29,863	)
Losses on write-down of equity securities		(55,499	)		(12,382	)		(43,116	)
Other non-recurring gains (losses)		40,933			(19,344	)		60,277

Ordinary profits		459,184			624,464			(165,280	)

Net extraordinary gains (losses)		(995,111	)		142,809			(1,137,920	)
Net gains (losses) on disposition of fixed assets		3,082			(3,778	)		6,861
Losses on impairment of fixed assets		(29,644	)		(30,304	)		660
Losses on write-down of shares of subsidiaries		(923,076	)		—			(923,076	)
Losses on write-down of shares of affiliates		(54,314	)		—			(54,314	)
Gains on sales of shares of subsidiaries		—			170,955			(170,955	)
Income before income taxes		(535,927	)		767,273			(1,303,200	)
Income taxes-current		96,429			78,258			18,170
Income taxes-deferred		20,716			25,799			(5,082	)
Total taxes		117,145			104,057			13,087

Net income		(653,072	)		663,215			(1,316,288	)


(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)		11,818			128,542			(116,723	)
Provision for general allowance for credit losses		(42,875	)		143,959			(186,835	)
Provision for special allowance for credit losses		60,834			(66,236	)		127,071
Allowance for credit to specific foreign borrowers		113			268			(154	)
Losses on loans write-off		(28,909	)		(36,735	)		7,825
Provision for contingent losses included in credit costs		4,831			57,650			(52,818	)
Gains on loans written-off		34,590			18,714			15,875
Losses on sales of other loans, etc.		(16,765	)		10,922			(27,687	)
Net operating profits before provision for general allowance for credit losses, excluding net gains (losses) on debt securities		(83,198	)		351,924			(435,122	)
Net operating profits before provision for general allowance for credit losses, excluding net gains (losses) on debt securities and investment trusts cancellation		(90,474	)		352,379			(442,854	)

Mitsubishi UFJ Financial Group, Inc.

TB Consolidated


	(in millions of yen)
	For the fiscal year ended						Increase
	March 31, 2020 (A)			March 31, 2019 (B)			(Decrease) (A) - (B)
Gross profits		472,305			437,363			34,941
Gross profits before credit costs for trust accounts		472,304			437,363			34,941
Trust fees		118,336			112,636			5,699
Trust fees before credit costs for trust accounts		118,335			112,636			5,698
Money trusts fees (Jointly operated designated money trusts before credit costs for trust account)		15,864			13,503			2,360
Other trust fees		102,471			99,133			3,337
Credit costs for trust accounts (1)		0			—			0
Net interest income		95,501			128,818			(33,317	)
Net fees and commissions		221,571			181,533			40,038
Net trading profits		13,887			30,161			(16,274	)
Net other operating profits		23,008			(15,787	)		38,795
Net gains (losses) on debt securities		8,695			(2,299	)		10,995
General and administrative expenses		322,364			268,962			53,401
Amortization of goodwill		4,951			1,083			3,867
Net operating profits before credit costs for trust accounts, provision for general allowance for credit losses and amortization of goodwill		154,891			169,484			(14,592	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		149,940			168,400			(18,460	)
Provision for general allowance for credit losses (2)		—			—			—
Net operating profits*		149,940			168,400			(18,459	)
Net non-recurring gains (losses)		11,985			(30,872	)		42,858
Credit costs (3)		(59	)		(875	)		816
Losses on loan write-offs		(23	)		(875	)		851
Provision for specific allowance for credit losses		—			—			—
Other credit costs		(35	)		—			(35	)
Reversal of allowance for credit losses (4)		721			2,498			(1,777	)
Reversal of reserve for contingent losses included in credit costs (5)		—			0			(0	)
Gains on loans written-off (6)		66			35			31
Net gains (losses) on equity securities		19,626			(21,307	)		40,933
Gains on sales of equity securities		48,777			33,832			14,945
Losses on sales of equity securities		(21,682	)		(54,240	)		32,557
Losses on write-down of equity securities		(7,468	)		(899	)		(6,569	)
Equity in earnings of equity method investees		530			510			19
Other non-recurring gains (losses)		(8,899	)		(11,734	)		2,835

Ordinary profits		161,926			137,528			24,398

Net extraordinary gains (losses)		(1,585	)		12,055			(13,641	)
Net gains (losses) on disposition of fixed assets		712			6,983			(6,271	)
Losses on impairment of fixed assets		(2,298	)		(2,227	)		(71	)
Profits before income taxes		160,341			149,584			10,756
Income taxes-current		42,023			24,282			17,741
Income taxes-deferred		3,641			17,333			(13,691	)
Total taxes		45,664			41,615			4,049
Profits		114,676			107,969			6,707
Profits attributable to non-controlling interests		448			3,990			(3,541	)

Profits attributable to owners of parent		114,227			103,979			10,248


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)		729			1,659			(929	)

Number of consolidated subsidiaries		95			57			38
Number of affiliated companies accounted for under the equity method		7			7			—

TB Consolidated (combined operating results of TB and transferred entities to Intermediate Holding Company in the United States)
To comply with the financial regulations in the United States, TB transferred the interests in its subsidiaries in the United States to the Intermediate Holding Company(“IHC”) 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		149,993			169,601			(19,607	)
Profits attributable to owners of parent		114,699			104,546			10,152
Number of the entities transferred to IHC		4			3			1

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated


	(in millions of yen)
	For the fiscal year ended						Increase
	March 31, 2020 (A)			March 31, 2019 (B)			(Decrease) (A) - (B)
Gross profits		331,806			325,640			6,165
Gross profits before credit costs for trust accounts		331,805			325,640			6,165
Domestic gross profits		257,669			268,775			(11,106	)
Trust fees		104,361			99,258			5,102
Trust fees before credit costs for trust accounts		104,360			99,258			5,102
Money trusts fees (Jointly operated designated money trusts before credit costs for trust account)		15,864			13,503			2,360
Other trust fees		88,496			85,754			2,741
Credit costs for trust accounts (1)		0			—			0
Net interest income		66,499			79,272			(12,773	)
Net fees and commissions		92,552			89,389			3,162
Net trading profits		8,109			20,827			(12,717	)
Net other operating profits		(13,853	)		(19,972	)		6,119
Net gains (losses) on debt securities		(6,540	)		4,805			(11,345	)
Non-domestic gross profits		74,137			56,865			17,271
Net interest income		46,046			54,872			(8,825	)
Net fees and commissions		2,464			1,750			713
Net trading profits		1,207			6,594			(5,387	)
Net other operating profits		24,419			(6,352	)		30,771
Net gains (losses) on debt securities		15,835			(7,042	)		22,878
General and administrative expenses		189,440			181,061			8,378
Personnel expenses		59,809			59,767			41
Non-personnel expenses		120,488			112,934			7,553
Taxes		9,142			8,358			784
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		142,365			144,579			(2,213	)
Provision for general allowance for credit losses (2)		—			—			—
Net operating profits		142,366			144,579			(2,213	)
Net non-recurring gains (losses)		8,210			(30,060	)		38,270
Credit costs (3)		(8	)		(1,182	)		1,174
Reversal of allowance for credit losses (4)		786			2,504			(1,718	)
Reversal of reserve for contingent losses included in credit costs (5)		29			—			29
Gains on loans written-off (6)		12			6			5
Net gains (losses) on equity securities		17,028			(21,421	)		38,450
Gains on sales of equity securities		46,236			33,773			12,463
Losses on sales of equity securities		(21,667	)		(54,240	)		32,572
Losses on write-down of equity securities		(7,540	)		(955	)		(6,584	)
Other non-recurring gains (losses)		(9,637	)		(9,966	)		328

Ordinary profits		150,577			114,519			36,057

Net extraordinary gains (losses)		(1,902	)		13,384			(15,286	)
Net gains (losses) on disposition of fixed assets		285			7,015			(6,730	)
Losses on impairment of fixed assets		(2,273	)		(1,973	)		(300	)
Income before income taxes		148,674			127,903			20,770
Income taxes-current		32,019			15,659			16,360
Income taxes-deferred		3,573			17,108			(13,535	)
Total taxes		35,593			32,767			2,825

Net income		113,081			95,135			17,945


(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		820			1,328			(508	)
Credit costs for trust accounts		0			—			0
Provision for general allowance for credit losses		784			2,479			(1,694	)
Provision for special allowance for credit losses		1			25			(23	)
Allowance for credit to specific foreign borrowers		—			—			—
Losses on loans write-offs		(8	)		(818	)		810
Provision for contingent losses included in credit costs		29			(363	)		393
Gains on loans written-off		12			6			5
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		133,070			146,816			(13,745	)
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		140,632			121,716			18,916

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, 2020 (A)			Increase (Decrease) (A) - (B)			For the fiscal year ended March 31, 2019 (B)
Total average interest rate on interest-earning assets (a)		0.49			(0.10	)		0.60
Average interest rate on loans and bills discounted (b)		0.78			(0.02	)		0.80
Average interest rate on securities		0.55			(0.43	)		0.99
Total average interest rate on interest-bearing liabilities (c) <including general and administrative expenses>		0.50			(0.01	)		0.52
Average interest rate on deposits and NCD (d)		0.00			(0.00	)		0.00
Average interest rate on other liabilities		0.21			0.00			0.20
Overall interest rate spread (a)-(c)		(0.00	)		(0.08	)		0.07
Interest rate spread (b)-(d)		0.77			(0.02	)		0.80

(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted (e)		0.80			(0.03	)		0.83
Interest rate spread (e)-(d)		0.79			(0.03	)		0.83

TB Non-consolidated
	(percentage per annum)
(Domestic business segment)	For the fiscal year ended March 31, 2020 (A)			Increase (Decrease) (A) - (B)			For the fiscal year ended March 31, 2019 (B)
Total average interest rate on interest-earning assets (a)		0.62			0.00			0.62
Average interest rate on loans and bills discounted (b)		0.34			(0.04	)		0.38
Average interest rate on securities		1.79			(0.05	)		1.85
Total average interest rate on interest-bearing liabilities (c)		0.12			0.00			0.12
Average interest rate on deposits and NCD (d)		0.04			(0.00	)		0.04
Overall interest rate spread (a)-(c)		0.49			0.00			0.49
Interest rate spread (b)-(d)		0.29			(0.04	)		0.34

(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted (e)		0.66			0.01			0.64
Interest rate spread (e)-(d)		0.61			0.02			0.59

BK and TB Combined
	(percentage per annum)
(Domestic business segment)	For the fiscal year ended March 31, 2020 (A)			Increase (Decrease) (A) - (B)			For the fiscal year ended March 31, 2019 (B)
Average interest rate on loans and bills discounted (a)		0.75			(0.02	)		0.77
Average interest rate on deposits and NCD (b)		0.00			(0.00	)		0.00
Interest rate spread (a)-(b)		0.74			(0.02	)		0.77

(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted (c)		0.79			(0.03	)		0.82
Interest rate spread (c)-(b)		0.79			(0.02	)		0.82

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, 2020

within 1 year

1 year to 5 years

over 5 years

Total

Receive-fix/pay-floater

2,798.5

5,763.0

7,281.5

15,843.1

Receive-floater/pay-fix

766.6

1,738.1

2,061.0

4,565.7

Receive-floater/pay-floater

—

Receive-fix/pay-fix

—

Total

3,565.1

7,501.2

9,342.6

20,408.9

BK Consolidated

(in billions of yen)

As of March 31, 2020

within 1 year

1 year to 5 years

over 5 years

Total

Receive-fix/pay-floater

2,613.1

5,317.7

7,191.9

15,122.7

Receive-floater/pay-fix

259.4

376.3

821.2

1,457.0

Receive-floater/pay-floater

—

Receive-fix/pay-fix

—

Total

2,872.5

5,694.0

8,013.1

16,579.7

TB Consolidated

(in billions of yen)

As of March 31, 2020

within 1 year

1 year to 5 years

over 5 years

Total

Receive-fix/pay-floater

185.4

445.3

89.6

720.4

Receive-floater/pay-fix

495.7

1,284.8

1,196.9

2,977.5

Receive-floater/pay-floater

—

Receive-fix/pay-fix

—

Total

681.1

1,730.1

1,286.6

3,697.9

Mitsubishi UFJ Financial Group, Inc.

4. 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”.

Fair Value Information on Securities


	(in millions of yen)
	As of March 31, 2020									As of March 31, 2019
	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		4,165,781		12,113			43,847		31,734		4,448,167		11,047			46,365		35,317
Domestic bonds		1,100,574		29,855			29,855		—		1,100,701		41,618			41,618		—
Government bonds		1,100,574		29,855			29,855		—		1,100,701		41,618			41,618		—
Municipal bonds		—		—			—		—		—		—			—		—
Corporate bonds		—		—			—		—		—		—			—		—
Other		3,065,206		(17,742	)		13,991		31,734		3,347,466		(30,570	)		4,746		35,317
Foreign bonds		1,034,835		9,696			13,715		4,018		1,213,548		(20,140	)		3,330		23,471
Other		2,030,371		(27,439	)		276		27,715		2,133,918		(10,430	)		1,415		11,846

	(in millions of yen)
	As of March 31, 2020									As of March 31, 2019
	Amount on consolidated balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on consolidated balance sheet		Unrealized gains (losses)			Gains		Losses
Available-for-sale securities		62,151,189		2,888,631			3,361,658		473,026		60,578,654		3,335,691			3,640,100		304,408
Domestic equity securities		4,141,355		2,139,981			2,222,330		82,349		4,953,392		2,764,362			2,827,068		62,706
Domestic bonds		27,473,106		171,378			206,512		35,134		27,261,206		357,491			359,092		1,600
Government bonds		20,643,048		123,911			152,196		28,284		21,542,335		278,970			279,803		833
Municipal bonds		2,952,820		14,076			16,279		2,202		2,226,565		22,588			22,593		4
Corporate bonds		3,877,238		33,389			38,036		4,647		3,492,305		55,932			56,695		762
Other		30,536,727		577,271			932,815		355,543		28,364,055		213,838			453,939		240,101
Foreign equity securities		79,521		12,671			12,690		19		114,879		52,586			52,598		11
Foreign bonds		24,502,462		738,144			798,956		60,811		21,532,914		173,648			285,313		111,665
Other		5,954,743		(173,544	)		121,168		294,712		6,716,261		(12,396	)		116,027		128,424

Redemption schedule of Available-for-sale securities with maturities and debt securities being held to maturity
	(in millions of yen)
	As of March 31, 2020									As of March 31, 2019
	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		10,619,157		9,697,443			4,227,061		4,030,017		11,697,276		8,610,818			4,970,807		3,083,004
Government bonds		10,396,682		7,588,648			1,156,573		2,601,718		11,516,387		7,161,950			2,128,167		1,836,531
Municipal bonds		11,351		763,350			2,178,117		—		7,297		371,107			1,848,072		88
Corporate bonds		211,123		1,345,445			892,370		1,428,299		173,591		1,077,760			994,567		1,246,385
Other		3,803,556		5,844,370			7,626,742		14,049,606		2,809,706		5,551,119			7,151,463		13,030,373
Foreign bonds		3,221,731		4,340,556			6,865,314		11,109,696		2,519,534		3,974,657			6,427,364		9,806,770
Other		581,825		1,503,813			761,428		2,939,909		290,172		1,576,461			724,098		3,223,603
Total		14,422,714		15,541,813			11,853,804		18,079,624		14,506,983		14,161,937			12,122,270		16,113,378

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”.

Fair Value Information on Securities

(in millions of yen)

As of March 31, 2020

As of March 31, 2019

Amount on
balance sheet

Unrealized
gains (losses)

Gains

Losses

Amount on
balance sheet

Unrealized
gains (losses)

Gains

Losses

Debt securities being held to maturity

1,944,533

18,785

30,046

11,260

2,149,931

33,864

42,230

8,366

Stocks of subsidiaries and affiliates

627,818

(17,184

)

4,344

21,529

1,187,700

(19,953

)

14,409

34,362

(in millions of yen)

As of March 31, 2020

As of March 31, 2019

Amount on
balance sheet

Unrealized
gains (losses)

Gains

Losses

Amount on
balance sheet

Unrealized
gains (losses)

Gains

Losses

Available-for-sale securities

46,321,585

1,991,487

2,347,728

356,240

43,913,005

2,553,484

2,757,924

204,440

Domestic equity securities

3,374,636

1,651,395

1,725,564

74,169

4,032,799

2,162,644

2,222,605

59,961

Domestic bonds

25,770,967

154,064

186,191

32,127

24,613,103

319,638

321,025

1,386

Other

17,175,981

186,027

435,971

249,943

15,267,102

71,201

214,292

143,091

Foreign equity securities

53,695

6,530

6,549

95,816

45,829

46,465

636

Foreign bonds

13,997,325

370,202

401,257

31,055

11,332,011

108,606

142,259

33,652

Other

3,124,961

(190,704

)

28,164

218,868

3,839,275

(83,235

)

25,567

108,802

Redemption schedule of Available-for-sale securities with maturities and debt securities being held to maturity

(in millions of yen)

As of March 31, 2020

As of March 31, 2019

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

10,106,478

9,245,170

4,078,218

3,441,674

10,665,367

7,727,089

4,839,031

2,482,315

Government bonds

9,902,705

7,188,369

1,106,011

2,096,962

10,497,931

6,322,360

2,117,947

1,255,705

Municipal bonds

11,351

759,253

2,156,905

—

7,297

368,529

1,825,241

Corporate bonds

192,421

1,297,547

815,301

1,344,712

160,137

1,036,200

895,842

1,226,530

Other

2,600,654

2,410,872

3,474,229

8,298,085

1,891,059

2,000,842

2,821,111

7,639,867

Foreign bonds

2,257,468

1,269,228

3,078,456

7,392,171

1,451,742

931,649

2,453,091

6,477,391

Other

343,186

1,141,643

395,772

905,914

439,316

1,069,192

368,020

1,162,475

Total

12,707,132

11,656,042

7,552,448

11,739,760

12,556,426

9,727,932

7,660,143

10,122,183

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

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

Fair Value Information on Securities


	(in millions of yen)
	As of March 31, 2020									As of March 31, 2019
	Amount on balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on balance sheet		Unrealized gains (losses)			Gains		Losses
Debt securities being held to maturity		1,059,871		(15,289	)		—		15,289		942,676		(2,360	)		795		3,156
Stocks of subsidiaries and affiliates		28,482		(1,873	)		23		1,896		54,072		(9	)		534		544

	(in millions of yen)
	As of March 31, 2020									As of March 31, 2019
	Amount on balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on balance sheet		Unrealized gains (losses)			Gains		Losses
Available—for-sale securities		10,698,869		727,878			834,142		106,263		12,521,803		752,676			804,225		51,549
Domestic equity securities		807,271		432,023			447,382		15,359		971,597		545,080			554,752		9,672
Domestic bonds		1,710,778		16,171			19,308		3,136		2,759,889		36,881			37,225		344
Other		8,180,820		279,683			367,451		87,767		8,790,317		170,714			212,246		41,532
Foreign equity securities		44		35			35		—		92		53			53		—
Foreign bonds		6,616,153		262,471			280,229		17,757		7,065,334		103,400			128,031		24,630
Other		1,564,622		17,176			87,186		70,009		1,724,890		67,260			84,162		16,901
Redemption schedule of Available-for-sale securities with maturities and debt securities being held to maturity
	(in millions of yen)
	As of March 31, 2020									As of March 31, 2019
	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		511,354		462,237			148,843		588,343		1,133,504		893,919			131,775		600,688
Government bonds		492,702		400,279			50,562		504,756		1,120,051		839,796			10,220		580,825
Municipal bonds		—		4,097			21,212		—		—		2,578			22,830		8
Corporate bonds		18,652		57,861			77,068		83,587		13,453		51,545			98,725		19,854
Other		343,946		1,834,493			2,519,427		3,586,770		672,678		1,941,745			3,119,972		3,111,976
Foreign bonds		248,629		1,634,668			2,359,975		3,432,751		605,965		1,574,550			2,890,838		2,925,587
Other		95,317		199,825			159,451		154,018		66,713		367,195			229,134		186,389
Total		855,300		2,296,731			2,668,270		4,175,113		1,806,183		2,835,665			3,251,748		3,712,665

Mitsubishi UFJ Financial Group, Inc.

5. ROE

MUFG Consolidated

(%)

For the fiscal year
ended
March 31, 2020
(A)

Increase
(Decrease)
(A) - (B)

For the fiscal year
ended
March 31, 2019
(B)

ROE

3.85

(2.60

)

6.45

Note:

ROE 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

Mitsubishi UFJ Financial Group, Inc.

6. Risk-Adjusted Capital Ratio



MUFG Consolidated	(in billions of yen)
	As of March 31, 2020 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2019 (B)			As of September 30, 2019
(1) Total capital ratio (4)/(7)		15.87	%		(0.15	)%		16.03	%		16.64	%
(2) Tier 1 capital ratio (5)/(7)		13.56	%		(0.33	)%		13.90	%		14.33	%
(3) Common Equity Tier 1 capital ratio (6)/(7)		11.90	%		(0.32	)%		12.23	%		12.68	%
(4) Total capital		18,279.5			(490.2	)		18,769.7			18,822.1
(5) Tier 1 capital		15,623.3			(652.9	)		16,276.3			16,208.4
(6) Common Equity Tier 1 capital		13,708.3			(614.0	)		14,322.4			14,337.6
(7) Risk weighted assets		115,135.6			(1,955.5	)		117,091.1			113,066.6
(8) Required Capital (7)×8%		9,210.8			(156.4	)		9,367.2			9,045.3

BK Consolidated	(in billions of yen)
	As of March 31, 2020 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2019 (B)			As of September 30, 2019
(1) Total capital ratio (4)/(7)		14.43	%		0.00	%		14.42	%		15.13	%
(2) Tier 1 capital ratio (5)/(7)		12.29	%		(0.16	)%		12.46	%		13.01	%
(3) Common Equity Tier 1 capital ratio (6)/(7)		10.70	%		(0.12	)%		10.83	%		11.39	%
(4) Total capital		14,285.6			(347.0	)		14,632.6			14,606.2
(5) Tier 1 capital		12,170.0			(469.4	)		12,639.4			12,562.6
(6) Common Equity Tier 1 capital		10,597.1			(393.6	)		10,990.8			10,996.3
(7) Risk weighted assets		98,973.6			(2,452.6	)		101,426.3			96,538.5
(8) Required Capital (7)×8%		7,917.8			(196.2	)		8,114.1			7,723.0

TB Consolidated	(in billions of yen)
	As of March 31, 2020 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2019 (B)			As of September 30, 2019
(1) Total capital ratio (4)/(7)		25.46	%		1.06	%		24.40	%		24.35	%
(2) Tier 1 capital ratio (5)/(7)		21.90	%		0.63	%		21.26	%		20.91	%
(3) Common Equity Tier 1 capital ratio (6)/(7)		19.46	%		(0.11	)%		19.57	%		19.09	%
(4) Total capital		1,889.9			(323.2	)		2,213.1			2,050.0
(5) Tier 1 capital		1,625.7			(303.2	)		1,928.9			1,760.6
(6) Common Equity Tier 1 capital		1,444.3			(331.2	)		1,775.5			1,607.2
(7) Risk weighted assets		7,420.6			(1,648.5	)		9,069.2			8,416.2
(8) Required Capital (7)×8%		593.6			(131.8	)		725.5			673.3

BK Non-consolidated	(in billions of yen)
	As of March 31, 2020 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2019 (B)			As of September 30, 2019
(1) Total capital ratio (4)/(7)		14.76	%		(0.82	)%		15.58	%		16.49	%
(2) Tier 1 capital ratio (5)/(7)		12.52	%		(1.01	)%		13.53	%		14.31	%
(3) Common Equity Tier 1 capital ratio (6)/(7)		10.67	%		(1.02	)%		11.69	%		12.48	%
(4) Total capital		12,092.2			(1,468.3	)		13,560.5			13,653.1
(5) Tier 1 capital		10,254.6			(1,519.2	)		11,773.8			11,849.6
(6) Common Equity Tier 1 capital		8,738.9			(1,433.2	)		10,172.2			10,338.0
(7) Risk weighted assets		81,887.1			(5,102.9	)		86,990.0			82,776.8
(8) Required Capital (7)×8%		6,550.9			(408.2	)		6,959.2			6,622.1

TB Non-consolidated	(in billions of yen)
	As of March 31, 2020 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2019 (B)			As of September 30, 2019
(1) Total capital ratio (4)/(7)		25.42	%		1.16	%		24.25	%		23.91	%
(2) Tier 1 capital ratio (5)/(7)		22.27	%		1.15	%		21.12	%		20.89	%
(3) Common Equity Tier 1 capital ratio (6)/(7)		20.11	%		0.68	%		19.42	%		19.29	%
(4) Total capital		2,131.5			(63.5	)		2,195.0			2,287.8
(5) Tier 1 capital		1,867.7			(43.5	)		1,911.2			1,998.9
(6) Common Equity Tier 1 capital		1,686.7			(71.5	)		1,758.2			1,845.9
(7) Risk weighted assets		8,383.9			(665.4	)		9,049.4			9,566.1
(8) Required Capital (7)×8%		670.7			(53.2	)		723.9			765.2


Note	1:	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.

Note	2:	Retained earnings on and after the beginning of the fiscal year ended March 2020 were adjusted in accordance with retroactive application of “Accounting Standard for Fair Value Measurement” (ASBJ Statement No.30) and “Implementation Guidance on Accounting Standard for Fair Value Measurement” (ASBJ Guidance No.31), but the related figures as of September 30, 2019 have not been adjusted.

Mitsubishi UFJ Financial Group, Inc.

7. Risk-Monitored Loans

MUFG Consolidated

(1) Risk-Monitored Loans


	(in millions of yen)
	As of March 31, 2020 (A)		% to total loans and bills discounted			As of March 31, 2019 (B)		% to total loans and bills discounted			Increase (Decrease) (A) - (B)			% to total loans and bills discounted
Loans to bankrupt borrowers		39,125		0.03	%		46,597		0.04	%		(7,471	)		(0.00	)%
Non-accrual delinquent loans		650,698		0.59	%		586,487		0.54	%		64,210			0.05	%
Accruing loans contractually past due 3 months or more		17,238		0.01	%		18,600		0.01	%		(1,361	)		(0.00	)%
Restructured loans		382,772		0.35	%		315,406		0.29	%		67,366			0.05	%
Total risk monitored loans		1,089,835		0.99	%		967,092		0.90	%		122,743			0.09	%
Total loans and bills discounted		109,114,612					107,412,468					1,702,143

Written-off		296,288					332,364					(36,075	)

(2) Allowance for Credit Losses

	(in millions of yen)
	As of March 31, 2020 (A)		% to total risk monitored loans			As of March 31, 2019 (B)		% to total risk monitored loans			Increase (Decrease) (A) - (B)			% to total risk monitored loans
Allowance for credit losses		740,641		67.95	%		711,236		73.54	%		29,405			(5.58	)%
General allowance for credit losses		532,830					440,539					92,291
Specific allowance for credit losses		207,636					270,408					(62,772	)
Allowance for credit to specific foreign borrowers		174					288					(113	)

(3) Classification of Risk-Monitored Loans



Classified by Geographic Area	(in millions of yen)
	As of March 31, 2020 (A)		As of March 31, 2019 (B)		Increase (Decrease) (A) - (B)
Domestic		621,344		584,353		36,990
Overseas		468,490		382,738		85,752
Asia		259,181		170,399		88,781
Indonesia		44,179		4,505		39,673
Singapore		51,358		29,123		22,234
Thailand		150,728		125,845		24,882
Hong Kong		1,806		554		1,251
Other		11,108		10,368		739
Americas		145,574		148,273		(2,699	)
Europe, Middle East and Other		63,735		64,065		(330	)

Total		1,089,835		967,092		122,743


Classified by Industry	(in millions of yen)
	As of March 31, 2020 (A)		As of March 31, 2019 (B)		Increase (Decrease) (A) - (B)
Domestic		621,344		584,353		36,990
Manufacturing		109,416		86,736		22,680
Construction		8,823		9,999		(1,176	)
Wholesale and retail		107,574		108,643		(1,068	)
Finance and insurance		1,157		900		256
Real estate, goods rental and leasing		39,365		36,888		2,476
Services		57,950		32,950		25,000
Other industries		15,104		16,414		(1,309	)
Consumer		281,951		291,819		(9,868	)
Overseas		468,490		382,738		85,752
Financial institutions		1,209		1,109		99
Commercial and industrial		362,389		293,645		68,743
Other		104,892		87,982		16,909

Total		1,089,835		967,092		122,743

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(1) Risk-Monitored Loans


	(in millions of yen)
	As of March 31, 2020 (A)		% to total loans and bills discounted			As of March 31, 2019 (B)		% to total loans and bills discounted			Increase (Decrease) (A) - (B)			% to total loans and bills discounted
Loans to bankrupt borrowers		27,350		0.03	%		34,846		0.03	%		(7,495	)		(0.00	)%
Non-accrual delinquent loans		366,444		0.41	%		331,709		0.37	%		34,735			0.03	%
Accruing loans contractually past due 3 months or more		9,083		0.01	%		11,101		0.01	%		(2,017	)		(0.00	)%
Restructured loans		212,187		0.24	%		167,737		0.19	%		44,450			0.04	%
Total risk monitored loans		615,067		0.69	%		545,395		0.62	%		69,672			0.07	%
Total loans and bills discounted		88,258,295					87,877,986					380,309
Written-off		244,600					280,313					(35,712	)

(2) Allowance for Credit Losses
	(in millions of yen)
	As of March 31, 2020 (A)		% to total risk monitored loans			As of March 31, 2019 (B)		% to total risk monitored loans			Increase (Decrease) (A) - (B)			% to total risk monitored loans
Allowance for credit losses		308,908		50.22	%		344,871		63.23	%		(35,963	)		(13.00	)%
General allowance for credit losses		232,468					188,953					43,515
Specific allowance for credit losses		76,264					155,628					(79,364	)
Allowance for credit to specific foreign borrowers		174					288					(113	)

(3) Classification of Risk-Monitored Loans



Classified by Geographic Area	(in millions of yen)
	As of March 31, 2020 (A)		As of March 31, 2019 (B)		Increase (Decrease) (A) - (B)
Domestic		432,954		394,674		38,279
Overseas		182,113		150,720		31,392
Asia		64,386		40,026		24,360
Indonesia		171		—		171
Singapore		51,358		29,123		22,234
Thailand		—		—		—
Hong Kong		1,806		554		1,251
Other		11,050		10,347		702
Americas		65,863		65,861		1
Europe, Middle East and Other		51,863		44,832		7,030

Total		615,067		545,395		69,672


Classified by Industry	(in millions of yen)
	As of March 31, 2020 (A)		As of March 31, 2019 (B)		Increase (Decrease) (A) - (B)
Domestic		432,954		394,674		38,279
Manufacturing		109,403		86,721		22,682
Construction		8,813		9,979		(1,165	)
Wholesale and retail		107,446		108,505		(1,059	)
Finance and insurance		1,154		897		257
Real estate		30,012		32,542		(2,529	)
Goods rental and leasing		9,335		1,876		7,458
Services		57,940		32,934		25,006
Other industries		15,096		16,405		(1,308	)
Consumer		93,751		104,813		(11,061	)
Overseas		182,113		150,720		31,392
Financial institutions		—		541		(541	)
Commercial and industrial		181,870		144,322		37,548
Other		242		5,857		(5,614	)

Total		615,067		545,395		69,672

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Risk-Monitored Loans


	(in millions of yen)
	As of March 31, 2020 (A)		% to total loans and bills discounted			As of March 31, 2019 (B)		% to total loans and bills discounted			Increase (Decrease) (A) - (B)			% to total loans and bills discounted
Loans to bankrupt borrowers		—		—			—		—			—			—
Non-accrual delinquent loans		2,319		0.05	%		3,714		0.07	%		(1,395	)		(0.02	)%
Accruing loans contractually past due 3 months or more		—		—			190		0.00	%		(190	)		(0.00	)%
Restructured loans		—		—			2,067		0.04	%		(2,067	)		(0.04	)%
Total risk monitored loans		2,319		0.05	%		5,973		0.12	%		(3,653	)		(0.06	)%
Total loans and bills discounted		4,081,093					4,643,676					(562,583	)

Written-off		48					591					(543	)

(2) Allowance for Credit Losses
	(in millions of yen)
	As of March 31, 2020 (A)		% to total risk monitored loans			As of March 31, 2019 (B)		% to total risk monitored loans			Increase (Decrease) (A) - (B)			% to total risk monitored loans
Allowance for credit losses		1,462		63.04	%		2,712		45.41	%		(1,250	)		17.62	%
General allowance for credit losses		999					2,146					(1,147	)
Specific allowance for credit losses		462					566					(103	)
Allowance for credit to specific foreign borrowers		—					—					—

(3) Classification of Risk-Monitored Loans


Classified by Geographic Area	(in millions of yen)
	As of March 31, 2020 (A)		As of March 31, 2019 (B)		Increase (Decrease) (A) - (B)
Domestic		2,319		5,973		(3,653	)
Overseas		—		—		—
Asia		—		—		—
Indonesia		—		—		—
Singapore		—		—		—
Thailand		—		—		—
Hong Kong		—		—		—
Other		—		—		—
Americas		—		—		—
Europe, Middle East and Other		—		—		—

Total		2,319		5,973		(3,653	)


Classified by Industry	(in millions of yen)
	As of March 31, 2020 (A)		As of March 31, 2019 (B)		Increase (Decrease) (A) - (B)
Domestic		2,319		5,973		(3,653	)
Manufacturing		—		—		—
Construction		—		—		—
Wholesale and retail		—		—		—
Finance and insurance		—		—		—
Real estate		16		2,443		(2,426	)
Goods rental and leasing		—		—		—
Services		—		—		—
Other industries		—		—		—
Consumer		2,302		3,529		(1,226	)
Overseas		—		—		—
Financial institutions		—		—		—
Commercial and industrial		—		—		—
Other		—		—		—

Total		2,319		5,973		(3,653	)

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated: Trust Account

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

(1) Risk-Monitored Loans


	(in millions of yen)
	As of March 31, 2020 (A)		% to total loans and bills discounted			As of March 31, 2019 (B)		% to total loans and bills discounted			Increase (Decrease) (A) - (B)			% to total loans and bills discounted
Loans to bankrupt borrowers		—		—			—		—			—			—
Non-accrual delinquent loans		0		0.00	%		0		0.00	%		—			0.00	%
Accruing loans contractually past due 3 months or more		—		—			7		0.04	%		(7	)		(0.04	)%
Restructured loans		3		0.02	%		117		0.83	%		(113	)		(0.80	)%
Total risk monitored loans		3		0.03	%		124		0.88	%		(120	)		(0.85	)%
Total loans and bills discounted		12,285					14,083					(1,798	)

(2) Allowance for Credit Losses


	(in millions of yen)
	As of March 31, 2020 (A)		As of March 31, 2019 (B)		Increase (Decrease) (A) - (B)
Allowance for bad debts		36		42		(5	)

(3) Classification of Risk-Monitored Loans

Classified by Industry
	(in millions of yen)
	As of March 31, 2020 (A)		As of March 31, 2019 (B)		Increase (Decrease) (A) - (B)
Domestic		3		124		(120	)
Manufacturing		—		—		—
Construction		—		—		—
Wholesale and retail		—		—		—
Finance and insurance		—		—		—
Real estate		—		119		(119	)
Goods rental and leasing		—		—		—
Services		—		—		—
Other industries		—		—		—
Consumer		3		4		(1	)

Total		3		124		(120	)

Mitsubishi UFJ Financial Group, Inc.

8. Non Performing Loans Based on the Financial Reconstruction Law (the “FRL”)

BK and TB Combined including Trust Account

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

(1) Non Performing Loans


							(in millions of yen)
							As of March 31, 2020 (A)			As of March 31, 2019 (B)			Increase (Decrease) (A) - (B)
Bankrupt or De facto Bankrupt								121,990			106,612			15,377
Doubtful								310,975			351,417			(40,441	)
Special Attention								221,271			181,216			40,054
Non Performing Loans (1)								654,237			639,246			14,990

Normal								99,954,031			101,449,372			(1,495,340	)
Total								100,608,268			102,088,618			(1,480,349	)

Non Performing Loans / Total								0.65	%		0.62	%		0.02	%

(2) Status of Coverage of Non Performing Loans
							(in millions of yen)
							As of March 31, 2020 (A)			As of March 31, 2019 (B)			Increase (Decrease) (A) - (B)
Covered amount (2)								515,289			534,060			(18,771	)
Allowance for credit losses								140,511			203,342			(62,830	)
Collateral, guarantees, etc.								374,777			330,717			44,059

Coverage ratio (2) / (1)								78.76	%		83.54	%		(4.78	)%

(3) Coverage Ratio

	(in millions of yen)
Category	Loan amount (A)			Allowance for credit losses (B)			Covered by collateral and/ or guarantees (C)			Coverage ratio for unsecured portion (B) /[(A) - (C)]			Coverage ratio [(B) + (C)] / (A)
Bankrupt or De facto Bankrupt		121,990			2,772			119,217			—			100.00	%
		[106,612	]		[4,427	]		[102,184	]					[100.00	%]
Doubtful		310,975			72,607			170,444			—			78.15	%
		[351,417	]		[148,237	]		[141,343	]					[82.40	%]
Special Attention		221,271			65,131			85,115			—			67.90	%
		[181,216	]		[50,677	]		[87,189	]					[76.07	%]
Total		654,237			140,511			374,777			—			78.76	%
		[639,246	]		[203,342	]		[330,717	]					[83.54	%]
Note: The upper figures are as of March 31, 2020. The lower figures with brackets are as of March 31, 2019. (4) Classified by Industry
							(in millions of yen)
							As of March 31, 2020 (A)			As of March 31, 2019 (B)			Increase (Decrease) (A) - (B)
Domestic								442,033			482,874			(40,841	)
Manufacturing								111,393			88,249			23,144
Construction								8,813			10,000			(1,187	)
Wholesale and retail								110,391			111,336			(945	)
Finance and insurance								1,459			1,283			176
Real estate								30,188			35,704			(5,516	)
Goods rental and leasing								9,335			1,876			7,458
Services								58,405			108,140			(49,734	)
Other industries								15,899			17,732			(1,832	)
Consumer								96,146			108,550			(12,403	)
Overseas								212,203			156,371			55,832
Financial institutions								—			541			(541	)
Commercial and industrial								211,851			149,784			62,067
Other								351			6,045			(5,694	)
Total								654,237			639,246			14,990

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(1) Non Performing Loans


							(in millions of yen)
							As of March 31, 2020 (A)			As of March 31, 2019 (B)			Increase (Decrease) (A) - (B)
Bankrupt or De facto Bankrupt								121,940			106,026			15,913
Doubtful								308,695			348,192			(39,496	)
Special Attention								221,271			178,838			42,432
Non Performing Loans (1)								651,907			633,058			18,849

Normal								95,754,905			96,714,385			(959,480	)
Total								96,406,813			97,347,444			(940,630	)

Non Performing Loans / Total								0.67	%		0.65	%		0.02	%

(2) Status of Coverage of Non Performing Loans

							(in millions of yen)
							As of March 31, 2020 (A)			As of March 31, 2019 (B)			Increase (Decrease) (A) - (B)
Covered amount (2)								512,960			529,523			(16,562	)
Allowance for credit losses								140,511			202,948			(62,437	)
Collateral, guarantees, etc.								372,448			326,574			45,874

Coverage ratio (2) / (1)								78.68	%		83.64	%		(4.95	)%
(3) Coverage Ratio
	(in millions of yen)
Category	Loan amount (A)			Allowance for credit losses (B)			Covered by collateral and/ or guarantees (C)			Coverage ratio for unsecured portion (B) / [(A) - (C)]			Coverage ratio [(B) + (C)] / (A)
Bankrupt or De facto Bankrupt		121,940			2,772			119,167			100.00	%		100.00	%
		[106,026	]		[4,342	]		[101,684	]		[100.00	%]		[100.00	%]
Doubtful		308,695			72,607			168,165			51.66	%		77.99	%
		[348,192	]		[148,215	]		[138,218	]		[70.58	%]		[82.26	%]
Special Attention		221,271			65,131			85,115			47.83	%		67.90	%
		[178,838	]		[50,391	]		[86,671	]		[54.67	%]		[76.64	%]
Total		651,907			140,511			372,448			50.27	%		78.68	%
		[633,058	]		[202,948	]		[326,574	]		[66.21	%]		[83.64	%]
Note: The upper figures are as of March 31, 2020. The lower figures with brackets are as of March 31, 2019.
(4) Classified by Industry
							(in millions of yen)
							As of March 31, 2020 (A)			As of March 31, 2019 (B)			Increase (Decrease) (A) - (B)
Domestic								439,704			476,686			(36,982	)
Manufacturing								111,393			88,249			23,144
Construction								8,813			10,000			(1,187	)
Wholesale and retail								110,391			111,336			(945	)
Finance and insurance								1,459			1,283			176
Real estate								30,171			33,141			(2,969	)
Goods rental and leasing								9,335			1,876			7,458
Services								58,405			108,140			(49,734	)
Other industries								15,899			17,732			(1,832	)
Consumer								93,833			104,925			(11,092	)
Overseas								212,203			156,371			55,832
Financial institutions								—			541			(541	)
Commercial and industrial								211,851			149,784			62,067
Other								351			6,045			(5,694	)
Total								651,907			633,058			18,849

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Non Performing Loans


							(in millions of yen)
							As of March 31, 2020 (A)			As of March 31, 2019 (B)			Increase (Decrease) (A) - (B)
Bankrupt or De facto Bankrupt								49			585			(535	)
Doubtful								2,275			3,219			(943	)
Special Attention								—			2,258			(2,258	)
Non Performing Loans (1)								2,325			6,063			(3,737	)

Normal								4,186,844			4,721,027			(534,183	)
Total								4,189,169			4,727,090			(537,920	)

Non Performing Loans / Total								0.05	%		0.12	%		(0.07	)%

(2) Status of Coverage of Non Performing Loans
							(in millions of yen)
							As of March 31, 2020 (A)			As of March 31, 2019 (B)			Increase (Decrease) (A) - (B)
Covered amount (2)								2,325			4,532			(2,206	)
Allowance for credit losses								—			393			(393	)
Collateral, guarantees, etc.								2,325			4,138			(1,812	)

Coverage ratio (2) / (1)								100.00	%		74.74	%		25.25	%

(3) Coverage Ratio

	(in millions of yen)
Category	Loan amount (A)			Allowance for credit losses (B)			Covered by collateral and/ or guarantees (C)			Coverage ratio for unsecured portion (B) / [(A) - (C)]			Coverage ratio [(B) + (C)] / (A)
Bankrupt or De facto Bankrupt		49			—			49			100.00	%		100.00	%
		[585	]		[84	]		[500	]		[100.00	%]		[100.00	%]
Doubtful		2,275			—			2,275			100.00	%		100.00	%
		[3,219	]		[22	]		[3,120	]		[22.60	%]		[97.62	%]
Special Attention		—			—			—			—			—
		[2,258	]		[286	]		[517	]		[16.44	%]		[35.58	%]
Total		2,325			—			2,325			100.00	%		100.00	%
		[6,063	]		[393	]		[4,138	]		[20.44	%]		[74.74	%]
Note: The upper figures are as of March 31, 2020. The lower figures with brackets are as of March 31, 2019. (4) Classified by Industry
							(in millions of yen)
							As of March 31, 2020 (A)			As of March 31, 2019 (B)			Increase (Decrease) (A) - (B)
Domestic								2,325			6,063			(3,737	)
Manufacturing								—			—			—
Construction								—			—			—
Wholesale and retail								—			—			—
Finance and insurance								—			—			—
Real estate								16			2,443			(2,426	)
Goods rental and leasing								—			—			—
Services								—			—			—
Other industries								—			—			—
Consumer								2,309			3,619			(1,310	)
Overseas								—			—			—
Financial institutions								—			—			—
Commercial and industrial								—			—			—
Other								—			—			—
Total								2,325			6,063			(3,737	)

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated: Trust Account

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

(1) Non Performing Loans


							(in millions of yen)
							As of March 31, 2020 (A)			As of March 31, 2019 (B)			Increase (Decrease) (A) - (B)
Bankrupt or De facto Bankrupt								0			0			—
Doubtful								3			4			(1	)
Special Attention								—			119			(119	)
Non Performing Loans (1)								3			124			(120	)

Normal								12,281			13,959			(1,677	)
Total								12,285			14,083			(1,798	)

Non Performing Loans / Total								0.03	%		0.88	%		(0.85	)%

(2) Status of Coverage of Non Performing Loans
							(in millions of yen)
							As of March 31, 2020 (A)			As of March 31, 2019 (B)			Increase (Decrease) (A) - (B)
Covered amount (2)								2			4			(1	)
Allowance for credit losses								—			—			—
Collateral, guarantees, etc.								2			4			(1	)

Coverage ratio (2) / (1)								79.42	%		3.95	%		75.46	%

(3) Coverage Ratio
	(in millions of yen)
Category	Loan amount (A)			Allowance for credit losses (B)			Covered by collateral and/ or guarantees (C)			Coverage ratio for unsecured portion (B) / [(A) - (C)]			Coverage ratio [(B) + (C)] / (A)
Bankrupt or De facto Bankrupt		0			—			0			—			100.00	%
		[0	]		[—	]		[0	]					[100.00	%]
Doubtful		3			—			2			—			79.00	%
		[4	]		[—	]		[ 4	]					[100.00	%]
Special Attention		—			—			—			—			—
		[119	]		[—	]		[—	]					[—	]
Total		3			—			2			—			79.42	%
		[124	]		[—	]		[ 4	]					[3.95	%]
Note: The upper figures are as of March 31, 2020. The lower figures with brackets are as of March 31, 2019.

(4) Classified by Industry
							(in millions of yen)
							As of March 31, 2020 (A)			As of March 31, 2019 (B)			Increase (Decrease) (A) - (B)
Domestic								3			124			(120	)
Manufacturing								—			—			—
Construction								—			—			—
Wholesale and retail								—			—			—
Finance and insurance								—			—			—
Real estate								—			119			(119	)
Goods rental and leasing								—			—			—
Services								—			—			—
Other industries								—			—			—
Consumer								3			4			(1	)
Total								3			124			(120	)

Mitsubishi UFJ Financial Group, Inc.

Overview of Non-Performing Loans

BK and TB Combined

(in billions of yen)

Self-Assessment

Coverage

ratio for

unsecured
portion

Non-Performing Loans

Based on the “FRL”

Risk-Monitored Loans

Category of
Borrowers

Classification

Non-
Classification

Classification
II

Classification
III

Classification
IV

Bankrupt
Borrowers

[119.2]

[1.9]

[0.7]

(*1)

100.00%

i ) Bankrupt or De facto Bankrupt

[121.9]

Loans to bankrupt

borrowers

[27.3]

Substantially
Bankrupt
Borrowers

Non-accrual
delinquent loans

[368.7]

Potentially
Bankrupt
Borrowers

[170.4]

[140.5]

51.66%

ii ) Doubtful

[310.9]

Borrowers
Requiring
Caution
(Special
Attention
Borrowers)

[221.2]

47.83%

iii ) Special Attention

[221.2]

Accruing loans contractually past due 3 months or more

[9.0]

Restructured loans

[212.1]

Borrowers
Requiring
Caution
(Other
Borrowers)

iv ) Normal

[99,941.7]

Normal
Borrowers

Non-Performing Loans Based on the “FRL”

Risk-Monitored Loans

i ) + ii ) + iii )

654.2

617.3

Total

i ) + ii ) + iii ) + iv )

100,595.9

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

Mitsubishi UFJ Financial Group, Inc.

9. Progress in Disposition of Problem Assets

BK Non-consolidated

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


	(in millions of yen)
	As of March 31, 2017		As of March 31, 2018		As of March 31, 2019 (A)		As of March 31, 2020 (B)		(B) - (A)
Assets newly categorized during fiscal 2016		156,527		66,294		45,674		26,295		(19,378	)
Assets newly categorized during fiscal 2017				125,207		33,393		22,912		(10,480	)
Assets newly categorized during fiscal 2018						178,183		27,831		(150,351	)
Assets newly categorized during fiscal 2019								196,249

(2) Progress in Disposition of Problem Assets


	(in millions of yen)
	For the Fiscal Year Ended March 31, 2020
			Bankrupt or De facto Bankrupt		Doubtful
Liquidation		1,381
Reconstructive treatment		17,599
Upgrade due to reconstructive treatment		—
Loan sold to secondary market		12,363
Write-offs		20,223
Others		168,264
Collection / Repayment		48,139
Upgrade		120,125

Total		219,833		36,576		183,257

Amount in process for disposition		111,129

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 “FRL”


	(in millions of yen)
	As of March 31, 2017		As of March 31, 2018		As of March 31, 2019 (A)		As of March 31, 2020 (B)		(B) - (A)
Assets newly categorized during fiscal 2016		1,872		643		380		229		(151	)
Assets newly categorized during fiscal 2017				1,319		491		267		(223	)
Assets newly categorized during fiscal 2018						1,067		381		(685	)
Assets newly categorized during fiscal 2019								841

(2) Progress in Disposition of Problem Assets


	(in millions of yen)
	For the Fiscal Year Ended March 31, 2020
			Bankrupt or De facto Bankrupt		Doubtful
Liquidation		—
Reconstructive treatment		—
Upgrade due to reconstructive treatment		—
Loan sold to secondary market		—
Write-offs		3
Others		3,662
Collection / Repayment		2,284
Upgrade		1,378

Total		3,665		787		2,878

Amount in process for disposition		110

Note:

Mitsubishi UFJ Financial Group, Inc.

10.

Loans Classified by Type of Industry, Domestic Consumer Loans, Domestic Loans to Small/Medium-Sized Companies and Proprietors

BK and TB Combined including Trust Accounts

(1) Loans Classified by Type of Industry


	(in millions of yen)
	As of March 31, 2020 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2019 (B)
Domestic offices (excluding loans booked at offshore markets)		66,575,675			(440,178	)		67,015,853
Manufacturing		10,231,411			406,158			9,825,253
Agriculture, forestry, fishery, mining, quarrying of stone and gravel		185,596			9,798			175,797
Construction		688,269			4,252			684,017
Utilities		1,917,785			(73,693	)		1,991,478
Communication and information services		1,331,334			85,958			1,245,376
Transport and postal activities		2,206,901			4,095			2,202,806
Wholesale and retail		6,452,675			108,671			6,344,004
Finance and insurance		8,426,599			(951,254	)		9,377,853
Real estate		8,728,317			(103,356	)		8,831,673
Goods rental and leasing		2,451,721			276,832			2,174,889
Services		2,756,873			(53,583	)		2,810,456
Municipal government		915,361			202,277			713,084
Other industries (including loans to the Japanese government)		20,282,827			(356,336	)		20,639,163
Overseas offices and loans booked at offshore markets		26,123,546			257,028			25,866,517

Total		92,699,221			(183,149	)		92,882,371

(2) Domestic Consumer Loans
	(in millions of yen)
	As of March 31, 2020 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2019 (B)
Total domestic consumer loans		15,602,034			(315,719	)		15,917,754
Housing loans		14,820,157			(301,777	)		15,121,934
Residential purpose		12,941,284			(247,466	)		13,188,751
Other		781,877			(13,942	)		795,819
(3) Domestic Loans to Small/Medium-Sized Companies and Proprietors
	(in millions of yen)
	As of March 31, 2020 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2019 (B)
Outstanding amount		38,974,286			(147,307	)		39,121,593
% to total domestic loans		58.54	%		0.16	%		58.37	%

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(1) Loans Classified by Type of Industry


	(in millions of yen)
	As of March 31, 2020 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2019 (B)
Domestic offices (excluding loans booked at offshore markets)		62,442,054			362,793			62,079,261
Manufacturing		10,231,400			406,257			9,825,143
Agriculture, forestry, fishery, mining, quarrying of stone and gravel		185,596			9,798			175,797
Construction		688,269			4,252			684,017
Utilities		1,872,785			(73,693	)		1,946,478
Communication and information services		1,321,906			84,144			1,237,762
Transport and postal activities		2,186,064			5,695			2,180,369
Wholesale and retail		6,452,675			108,717			6,343,958
Finance and insurance		6,987,206			(474,748	)		7,461,954
Real estate		8,723,619			30,992			8,692,626
Goods rental and leasing		2,451,721			276,832			2,174,889
Services		2,717,033			(44,340	)		2,761,373
Municipal government		910,845			202,326			708,519
Other industries (including loans to the Japanese government)		17,712,935			(173,441	)		17,886,376
Overseas offices and loans booked at offshore markets		25,816,240			17,515			25,798,724

Total		88,258,295			380,309			87,877,986

(2) Domestic Consumer Loans
	(in millions of yen)
	As of March 31, 2020 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2019 (B)
Total domestic consumer loans		14,611,801			(103,613	)		14,715,414
Housing loans		13,832,237			(90,307	)		13,922,544
Residential purpose		11,954,507			(146,007	)		12,100,514
Other		779,563			(13,306	)		792,869
(3) Domestic Loans to Small/Medium-Sized Companies and Proprietors
	(in millions of yen)
	As of March 31, 2020 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2019 (B)
Outstanding amount		37,299,320			305,350			36,993,970
% to total domestic loans		59.73	%		0.14	%		59.59	%

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Loans Classified by Type of Industry


	(in millions of yen)
	As of March 31, 2020 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2019 (B)
Domestic offices (excluding loans booked at offshore markets)		3,773,787			(802,095	)		4,575,883
Manufacturing		11			(99	)		110
Agriculture, forestry, fishery, mining, quarrying of stone and gravel		—			—			—
Construction		—			—			—
Utilities		—			—			—
Communication and information services		9,428			1,814			7,614
Transport and postal activities		837			(1,600	)		2,437
Wholesale and retail		—			(46	)		46
Finance and insurance		1,364,614			(484,258	)		1,848,872
Real estate		2,400			(133,414	)		135,814
Goods rental and leasing		—			—			—
Services		39,840			(9,243	)		49,083
Municipal government		—			—			—
Other industries (including loans to the Japanese government)		2,356,655			(175,250	)		2,531,905
Overseas offices and loans booked at offshore markets		307,305			239,512			67,793

Total		4,081,093			(562,583	)		4,643,676

(2) Domestic Consumer Loans
	(in millions of yen)
	As of March 31, 2020 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2019 (B)
Total domestic consumer loans		984,787			(211,267	)		1,196,055
Housing loans		982,480			(210,643	)		1,193,124
Residential purpose		981,626			(100,729	)		1,082,356
Other		2,306			(623	)		2,930
(3) Domestic Loans to Small/Medium-Sized Companies and Proprietors
	(in millions of yen)
	As of March 31, 2020 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2019 (B)
Outstanding amount		1,439,431			(433,977	)		1,873,408
% to total domestic loans		38.14	%		(2.80	)%		40.94	%

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated: Trust Accounts

(1) Loans Classified by Type of Industry


	(in millions of yen)
	As of March 31, 2020 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2019 (B)
Domestic offices (excluding loans booked at offshore markets)		359,832			(876	)		360,708
Manufacturing		—			—			—
Agriculture, forestry, fishery, mining, quarrying of stone and gravel		—			—			—
Construction		—			—			—
Utilities		45,000			—			45,000
Communication and information services		—			—			—
Transport and postal activities		20,000			—			20,000
Wholesale and retail		—			—			—
Finance and insurance		74,779			7,752			67,027
Real estate		2,298			(935	)		3,233
Goods rental and leasing		—			—			—
Services		—			—			—
Municipal government		4,516			(49	)		4,565
Other industries (including loans to the Japanese government)		213,237			(7,645	)		220,882
Overseas offices and loans booked at offshore markets		—			—			—

Total		359,832			(876	)		360,708

(2) Domestic Consumer Loans
	(in millions of yen)
	As of March 31, 2020 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2019 (B)
Total domestic consumer loans		5,445			(838	)		6,284
Housing loans		5,438			(826	)		6,265
Residential purpose		5,150			(729	)		5,880
Other		7			(11	)		19
(3) Domestic Loans to Small/Medium-Sized Companies and Proprietors
	(in millions of yen)
	As of March 31, 2020 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2019 (B)
Outstanding amount		235,535			(18,680	)		254,215
% to total domestic loans		65.45	%		(5.02	)%		70.47	%

Mitsubishi UFJ Financial Group, Inc.

11. Overseas Loans

BK Consolidated excl. MUAH, KS, BDI


	(in millions of yen)
	As of March 31, 2020 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2019 (B)
Americas		9,722,581		117,307			9,605,273
United States of America		7,907,514		391,365			7,516,149
Canada		601,204		(86,217	)		687,422
Brazil		571,297		31,057			540,239
Mexico		371,273		(92,129	)		463,402
Others		271,290		(126,768	)		398,059
Asia/Oceania		10,687,305		(252,905	)		10,940,211
Hong Kong		2,283,528		(167,754	)		2,451,282
China		1,561,564		231,076			1,330,487
Singapore		1,342,418		(121,153	)		1,463,572
Australia		1,230,918		(129,335	)		1,360,253
Indonesia		854,520		(185,028	)		1,039,549
India		811,235		39,242			771,992
Malaysia		709,741		5,810			703,930
Taiwan		505,892		89,855			416,037
South Korea		398,172		(27,340	)		425,512
New Zealand		336,380		2,172			334,208
Vietnam		236,991		26,441			210,550
Others		415,941		(16,892	)		432,833
EMEA		7,940,797		7,294			7,933,502
United Kingdom		2,008,282		125,194			1,883,088
Netherlands		887,116		71,541			815,575
Saudi Arabia		602,368		5,043			597,325
Germany		537,783		1,280			536,502
France		415,418		(72,125	)		487,543
Ireland		341,204		107,930			233,274
Switzerland		293,801		20,438			273,363
Luxembourg		261,839		41,663			220,176
UAE		248,943		(12,261	)		261,204
Belgium		244,664		41,187			203,477
Turkey		209,468		(79,077	)		288,545
Qatar		198,355		31,803			166,551
Italy		172,588		(54,106	)		226,694
Russia		171,953		(1,691	)		173,645
Poland		151,547		29,068			122,479
South Africa		134,953		(35,928	)		170,882
Spain		105,509		(40,668	)		146,177
Others		954,997		(171,998	)		1,126,996

Total		28,350,684		(128,303	)		28,478,987

Note:

MUAH (MUFG Americas Holdings Corporation), KS (Bank of Ayudhya Public Company Limited) and BDI (PT Bank Danamon Indonesia, Tbk.) have the following loan balances in the consolidated financial statements.

(in millions of yen)

As of
March 31, 2020
(A)

Increase
(Decrease)
(A) - (B)

As of
March 31, 2019
(B)

MUAH

9,515,440

89,466

9,425,973

4,856,343

581,743

4,274,600

BDI

1,016,947

1,016,947

—

Mitsubishi UFJ Financial Group, Inc.

12. Loans and Deposits

BK and TB Combined


	(in millions of yen)
	As of March 31, 2020 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2019 (B)
Deposits (ending balance)		169,384,048		3,513,796			165,870,252
Deposits (average balance)		166,255,886		1,600,320			164,655,565
Loans (ending balance)		92,339,389		(182,273	)		92,521,663
Loans (average balance)		91,531,796		(3,253,810	)		94,785,607

BK Non-consolidated
	(in millions of yen)
	As of March 31, 2020 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2019 (B)
Deposits (ending balance)		158,248,564		5,377,890			152,870,674
Deposits (average balance)		154,468,309		3,745,983			150,722,326
Loans (ending balance)		88,258,295		380,309			87,877,986
Loans (average balance)		87,207,107		(2,256,446	)		89,463,553

TB Non-consolidated
	(in millions of yen)
	As of March 31, 2020 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2019 (B)
Deposits (ending balance)		11,135,484		(1,864,094	)		12,999,578
Deposits (average balance)		11,787,576		(2,145,662	)		13,933,238
Loans (ending balance)		4,081,093		(562,583	)		4,643,676
Loans (average balance)		4,324,689		(997,363	)		5,322,053

Mitsubishi UFJ Financial Group, Inc.

13. Domestic Deposits

BK and TB Combined

(in millions of yen)

As of
March 31, 2020
(A)

Increase
(Decrease)
(A) - (B)

As of
March 31, 2019
(B)

Individuals

79,317,655

2,306,713

77,010,942

Corporations and others

66,585,553

1,547,035

65,038,517

Domestic deposits

145,903,208

3,853,749

142,049,459



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

BK Non-consolidated

(in millions of yen)

As of
March 31, 2020
(A)

Increase
(Decrease)
(A) - (B)

As of
March 31, 2019
(B)

Individuals

72,414,615

2,641,240

69,773,375

Corporations and others

63,741,084

2,890,527

60,850,557

Domestic deposits

136,155,699

5,531,767

130,623,932



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



TB Non-consolidated

	(in millions of yen)
	As of March 31, 2020 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2019 (B)
Individuals		6,903,040		(334,526	)		7,237,567
Corporations and others		2,844,468		(1,343,491	)		4,187,959
Domestic deposits		9,747,508		(1,678,018	)		11,425,527



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, 2020 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2019 (B)
Deferred tax assets		494.4			13.0			481.4
Allowance for credit losses		159.4			(8.5	)		168.0
Write-down on investment securities		403.3			305.8			97.4
Unrealized losses on Available-for-sale securities		8.1			(2.4	)		10.6
Reserve for retirement benefits		91.5			(6.0	)		97.6
Reserve for contingent losses		17.4			(11.5	)		29.0
Depreciation and Impairment losses		44.3			2.5			41.8
Devaluation on land upon merger		26.1			(1.8	)		27.9
Other		172.4			39.6			132.8
Valuation allowance		(428.5	)		(304.5	)		(124.0	)
Deferred tax liabilities		891.9			(53.1	)		945.0
Unrealized gains on Available-for-sale securities		582.9			(135.9	)		718.8
Net deferred gains on hedging instruments		145.7			62.5			83.1
Revaluation gains on securities upon merger		53.3			(4.0	)		57.4
Gains on securities contributed to employees’ retirement benefits trust		45.2			0.0			45.1
Other		64.7			24.3			40.3
Net deferred tax assets		(397.5	)		66.1			(463.6	)

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


	(in billions of yen)
	FY2014			FY2015			FY2016			FY2017			FY2018			FY2019
Net operating profits before provision for general allowance for credit losses		931.4			888.1			666.9			554.3			388.4			395.2
Total credit costs		(70.7	)		(103.4	)		(25.4	)		56.0			128.5			11.8
Income before income taxes		860.2			884.7			632.2			580.0			767.2			(535.9	)
Reconciliation to taxable income		(12.6	)		(113.3	)		(86.2	)		(156.0	)		(500.2	)		880.5
Taxable income		847.5			771.3			546.0			424.0			267.0			344.6

(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, 2020 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2019 (B)
Deferred tax assets		94.5			39.8			54.7
Net deferred losses on hedging instruments		48.8			33.9			14.8
Gains on securities related to employees’ retirement benefits trust		31.2			4.0			27.1
Write-down on investment securities		11.1			(0.1	)		11.3
Depreciation and Impairment losses		9.3			(2.2	)		11.6
Reserve for contingent losses		4.7			0.0			4.6
Other		19.1			2.3			16.7
Valuation allowance		(29.8	)		1.8			(31.7	)
Deferred tax liabilities		309.1			8.8			300.3
Unrealized gains on Available-for-sale securities		221.9			(1.0	)		223.0
Reserve for retirement benefits		77.9			10.7			67.1
Other		9.2			(0.9	)		10.1
Net deferred tax assets		(214.6	)		31.0			(245.6	)

(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)
	FY2014			FY2015			FY2016			FY2017			FY2018			FY2019
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		190.4			193.0			181.4			162.1			144.5			142.3
Total credit costs		(0.4	)		(0.2	)		(22.5	)		23.4			1.3			0.8
Income before income taxes		201.4			218.6			156.3			249.7			127.9			148.6
Reconciliation to taxable income		(40.4	)		(68.1	)		1.8			(69.5	)		(79.2	)		(39.9	)
Taxable income		160.9			150.4			158.1			180.2			48.7			108.7

(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, 2020 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2019 (B)
Projected benefit obligation (reserve type)	(A)		2,335,331			16,613			2,318,718
Projected benefit obligation (non-reserve type)	(B)		82,084			28,015			54,068
Fair value of plan assets	(C)		3,043,075			(94,178	)		3,137,254
Net amount recorded on the Consolidated Balance Sheet	(A) + (B) - (C)		(625,659	)		138,807			(764,467	)
Net defined benefit liability			86,547			27,006			59,540
Net defined benefit asset			(712,206	)		111,801			(824,007	)
(2) Net periodic cost of retirement benefits
		(in millions of yen)
		For the fiscal year ended March 31, 2020 (A)			Increase (Decrease) (A) - (B)			For the fiscal year ended March 31, 2019 (B)
Net periodic cost of retirement benefits regarding defined benefit pension plans			(26,645	)		(48,012	)		21,367
Service cost			64,791			2,362			62,428
Interest cost			29,558			(182	)		29,741
Expected return on plan assets			(109,356	)		1,310			(110,667	)
Amortization of unrecognized prior service cost			(5,573	)		550			(6,124	)
Amortization of unrecognized net actuarial loss			(20,393	)		(56,842	)		36,448
Other			14,327			4,787			9,540

(3) Assumptions used in calculation of projected benefit obligation


	As of March 31, 2020
Discount rates		Domestic consolidated subsidiaries	0.00% ~ 0.67%
		Overseas consolidated subsidiaries	1.50% ~ 8.70%
Expected return		Domestic consolidated subsidiaries	1.40% ~ 4.10%
		Overseas consolidated subsidiaries	1.50% ~ 8.50%

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(1) Benefit obligation


		(in millions of yen)
		As of March 31, 2020 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2019 (B)
Projected benefit obligation	(A)		1,442,240			(34,348	)		1,476,588
Discount rates			(0.5% ~ 0.6	%)					(0.4% ~ 0.6	%)
Fair value of plan assets	(B)		1,783,825			(123,488	)		1,907,313
Prepaid pension cost	(C)		362,724			65,084			297,639
Reserve for retirement benefits	(D)		5,664			(402	)		6,067
Total amount unrecognized	(A) - (B) + (C) - (D)		15,474			154,627			(139,152	)
Unrecognized net actuarial loss			18,455			152,790			(134,335	)
Unrecognized prior service cost			(2,980	)		1,836			(4,817	)

(2) Net periodic cost

		(in millions of yen)
		For the fiscal year ended March 31, 2020 (A)			Increase (Decrease) (A) - (B)			For the fiscal year ended March 31, 2019 (B)
Net periodic cost of retirement benefits			(16,011	)		(42,667	)		26,656
Service cost			35,729			30			35,698
Interest cost			10,647			(2,211	)		12,859
Expected return on plan assets			(47,993	)		(812	)		(47,181	)
Amortization of unrecognized prior service cost			(1,830	)		6			(1,836	)
Amortization of unrecognized net actuarial loss			(29,455	)		(44,270	)		14,814
Other			16,890			4,589			12,301

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Benefit obligation


		(in millions of yen)
		As of March 31, 2020 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2019 (B)
Projected benefit obligation	(A)		336,648			(2,899	)		339,548
Discount rates			(0.4% ~ 0.6	%)					(0.4% ~ 0.6	%)
Fair value of plan assets	(B)		613,232			(36,846	)		650,079
Prepaid pension cost	(C)		374,419			34,964			339,455
Reserve for retirement benefits	(D)		757			(292	)		1,050
Total amount unrecognized	(A) - (B) + (C) - (D)		97,077			69,203			27,874
Unrecognized net actuarial loss			95,070			69,428			25,641
Unrecognized prior service cost			2,007			(225	)		2,232

(2) Net periodic cost

		(in millions of yen)
		For the fiscal year ended March 31, 2020 (A)			Increase (Decrease) (A) - (B)			For the fiscal year ended March 31, 2019 (B)
Net periodic cost of retirement benefits			(19,335	)		(11,882	)		(7,453	)
Service cost			6,846			110			6,735
Interest cost			1,892			(560	)		2,452
Expected return on plan assets			(27,021	)		249			(27,270	)
Amortization of unrecognized prior service cost			225			—			225
Amortization of unrecognized net actuarial loss			(1,569	)		(11,431	)		9,861
Other			291			(251	)		542

Mitsubishi UFJ Financial Group, Inc.

(Reference)

1. Financial Statements

BK Non-consolidated

(1) Non-consolidated Balance Sheets


(in millions of yen)	As of March 31, 2019			As of March 31, 2020
Assets:
Cash and due from banks		59,746,754			62,272,588
Call loans		252,844			593,434
Receivables under resale agreements		1,866,300			9,870,103
Monetary claims bought		4,612,969			3,824,545
Trading assets		4,643,224			6,834,573
Money held in trust		27,671			50,987
Securities		48,739,675			50,781,265
Loans and bills discounted		87,877,986			88,258,295
Foreign exchanges		1,900,228			1,438,965
Other assets		7,769,316			8,319,339
Tangible fixed assets		851,214			792,725
Intangible fixed assets		405,029			461,508
Prepaid pension costs		297,639			362,724
Customers’ liabilities for acceptances and guarantees		6,951,006			6,236,398
Allowance for credit losses		(344,871	)		(308,908	)

Total assets		225,596,992			239,788,548

Mitsubishi UFJ Financial Group, Inc.


(in millions of yen)	As of March 31, 2019			As of March 31, 2020
Liabilities:
Deposits		152,870,674			158,248,564
Negotiable certificates of deposit		6,943,221			5,301,960
Call money		78,172			1,206,809
Payables under repurchase agreements		12,079,598			13,847,974
Payables under securities lending transactions		532			19,429
Commercial papers		1,341,534			1,524,439
Trading liabilities		2,631,051			2,948,964
Borrowed money		20,551,571			28,952,597
Foreign exchanges		2,911,717			3,059,394
Bonds payable		2,170,606			1,854,358
Other liabilities		5,435,991			6,185,088
Reserve for bonuses		27,470			30,424
Reserve for bonuses to directors		115			144
Reserve for stocks payment		4,931			5,014
Reserve for retirement benefits		6,067			5,664
Reserve for loyalty award credits		1,310			1,412
Reserve for contingent losses		103,747			57,015
Deferred tax liabilities		463,656			397,510
Deferred tax liabilities for land revaluation		110,060			103,409
Acceptances and guarantees		6,951,006			6,236,398

Total liabilities		214,683,037			229,986,579

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		3,832,259			2,932,893
Revenue reserve		190,044			190,044
Other retained earnings		3,642,215			2,742,849
Funds for retirement benefits		2,432			2,432
Other reserve		718,196			718,196
Earned surplus brought forward		2,921,586			2,022,220
Treasury stock		(645,700	)		(645,700	)

Total shareholders’ equity		8,776,793			7,877,427

Net unrealized gains (losses) on available-for-sale securities		1,735,268			1,391,751
Net deferred gains (losses) on hedging instruments		189,167			329,943
Land revaluation excess		212,725			202,845

Total valuation and translation adjustments		2,137,161			1,924,541

Total net assets		10,913,954			9,801,968

Total liabilities and net assets		225,596,992			239,788,548

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(2) Non-consolidated Statements of Income


(in millions of yen)	For the fiscal year ended March 31, 2019		For the fiscal year ended March 31, 2020
Ordinary income		3,568,249		3,661,200
Interest income		2,314,864		2,058,262
Interest on loans and bills discounted		1,495,995		1,350,390
Interest and dividends on securities		492,077		425,875
Fees and commissions		606,936		590,052
Trading income		10,655		12,944
Other operating income		267,735		764,142
Other ordinary income		368,057		235,798
Ordinary expenses		2,943,785		3,202,016
Interest expenses		1,303,805		1,240,473
Interest on deposits		419,000		463,740
Fees and commissions		176,430		184,038
Trading expenses		1,801		470
Other operating expenses		182,795		454,171
General and administrative expenses		1,174,102		1,135,275
Other ordinary expenses		104,848		187,587

Ordinary profits		624,464		459,184

Extraordinary gains		179,490		21,197
Extraordinary losses		36,681		1,016,308

Income (loss) before income taxes		767,273		(535,927	)

Income taxes - current		78,258		96,429
Income taxes - deferred		25,799		20,716

Total taxes		104,057		117,145

Net income (loss)		663,215		(653,072	)

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Non-consolidated Balance Sheets


(in millions of yen)	As of March 31, 2019			As of March 31, 2020
Assets:
Cash and due from banks		13,087,180			11,162,691
Call loans		26,136			90,970
Receivables under resale agreements		—			700,967
Receivables under securities borrowing transactions		143,486			118,575
Monetary claims bought		113,856			143,684
Trading assets		504,804			587,323
Money held in trust		114,048			130,360
Securities		13,755,938			12,369,912
Loans and bills discounted		4,643,676			4,081,093
Foreign exchanges		61,374			87,154
Other assets		698,373			963,619
Tangible fixed assets		137,455			128,874
Intangible fixed assets		71,974			77,920
Prepaid pension costs		339,455			374,419
Customers’ liabilities for acceptances and guarantees		18,760			18,812
Allowance for credit losses		(2,712	)		(1,462	)

Total assets		33,713,809			31,034,919

Mitsubishi UFJ Financial Group, Inc.


(in millions of yen)	As of March 31, 2019			As of March 31, 2020
Liabilities:
Deposits		12,999,578			11,135,484
Negotiable certificates of deposit		2,324,711			2,203,473
Call money		12,858			—
Payables under repurchase agreements		5,302,674			5,511,235
Commercial papers		775,752			456,924
Trading liabilities		44,933			42,670
Borrowed money		1,113,981			1,664,830
Foreign exchanges		41,353			44,956
Bonds payable		621,573			418,160
Due to trust accounts		7,725,909			6,703,133
Other liabilities		401,921			549,934
Reserve for bonuses		4,608			4,763
Reserve for bonuses to directors		97			104
Reserve for stocks payment		3,786			3,765
Reserve for retirement benefits		1,050			757
Reserve for contingent losses		15,272			15,470
Deferred tax liabilities		245,612			214,601
Deferred tax liabilities for land revaluation		4,232			4,232
Acceptances and guarantees		18,760			18,812

Total liabilities		31,658,668			28,993,311

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		1,083,418			1,152,423
Revenue reserve		73,714			73,714
Other retained earnings		1,009,704			1,078,709
Funds for retirement benefits		710			710
Other reserve		138,495			138,495
Earned surplus brought forward		870,499			939,504
Treasury stock		(299,999	)		(299,999	)

Total shareholders’ equity		1,563,668			1,632,673

Net unrealized gains (losses) on available-for-sale securities		526,178			519,790
Net deferred gains (losses) on hedging instruments		(34,115	)		(110,579	)
Land revaluation excess		(590	)		(276	)

Total valuation and translation adjustments		491,472			408,934

Total net assets		2,055,140			2,041,608

Total liabilities and net assets		33,713,809			31,034,919

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(2) Non-consolidated Statements of Income


(in millions of yen)	For the fiscal year ended March 31, 2019		For the fiscal year ended March 31, 2020
Ordinary income		732,794		704,295
Trust fees		99,258		104,361
Interest income		406,442		347,208
Interest on loans and bills discounted		56,557		39,560
Interest and dividends on securities		268,366		243,591
Fees and commissions		123,718		131,739
Trading income		27,445		9,537
Other operating income		27,979		59,800
Other ordinary income		47,950		51,647
Ordinary expenses		618,275		553,718
Interest expenses		272,445		234,807
Interest on deposits		36,218		28,158
Fees and commissions		32,577		36,723
Trading expenses		23		220
Other operating expenses		54,304		49,234
General and administrative expenses		192,226		188,533
Other ordinary expenses		66,698		44,198

Ordinary profits		114,519		150,577

Extraordinary gains		21,196		2,793
Extraordinary losses		7,812		4,696

Income before income taxes		127,903		148,674

Income taxes - current		15,659		32,019
Income taxes - deferred		17,108		3,573

Total taxes		32,767		35,593

Net income		95,135		113,081

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, 2019		As of March 31, 2020
Assets:
Loans and bills discounted		360,708		359,832
Securities		58,002,805		57,931,822
Beneficiary rights to the trust		79,369,495		87,938,640
Securities held in custody accounts		3,367,036		3,798,591
Monetary claims		18,475,973		22,272,297
Tangible fixed assets		14,466,100		15,875,747
Intangible fixed assets		134,221		135,543
Other claims		3,414,876		3,759,125
Call loans		1,062,298		1,147,427
Due from banking account		9,531,008		8,980,934
Cash and due from banks		5,860,812		5,284,528

Total		194,045,337		207,484,491

Liabilities:
Money trusts		25,237,376		25,711,403
Pension trusts		11,957,774		11,700,334
Property formation benefit trusts		7,528		6,842
Investment trusts		84,634,927		92,086,729
Money entrusted other than money trusts		4,088,974		4,939,720
Securities trusts		5,528,493		6,631,349
Monetary claim trusts		17,364,307		20,301,045
Equipment trusts		80,967		90,563
Land and fixtures trusts		43,889		42,300
Composite trusts		45,101,098		45,974,200

Total		194,045,337		207,484,491



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 850,748 millions of yen as of March 31, 2020.

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, 2019		As of March 31, 2020
Assets:
Loans and bills discounted		14,083		12,285
Securities		62,808		59,190
Other		7,555,920		6,673,143

Total		7,632,813		6,744,620

Liabilities:
Principal		7,617,688		6,744,156
Allowance for bad debts		42		36
Other		15,082		426

Total		7,632,813		6,744,620

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(4) Major Items


(in millions of yen)	As of March 31, 2019		As of March 31, 2020
Total funds		52,526,969		50,757,539

Deposits		12,999,578		11,135,484
Negotiable certificates of deposit		2,324,711		2,203,473
Money trusts		25,237,376		25,711,403
Pension trusts		11,957,774		11,700,334
Property formation benefit trusts		7,528		6,842

Loans and bills discounted		5,004,385		4,440,926

Banking account		4,643,676		4,081,093
Trust account		360,708		359,832

Investment securities		71,758,743		70,301,735

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.