FORM 6-K

6-K 1 d276357d6k.htm FORM 6-K FORM 6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

Report of Foreign Private Issuer

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

the Securities Exchange Act of 1934

For the month of February 2022

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. 333-242048) OF MITSUBISHI UFJ FINANCIAL GROUP, INC. AND TO BE A PART THEREOF FROM THE DATE ON WHICH THIS REPORT IS FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED WITH OR FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION.

SIGNATURES

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

Date: February 2, 2022


Mitsubishi UFJ Financial Group, Inc.

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

LOGO

Consolidated Summary Report

<under Japanese GAAP>

for the nine months ended December 31, 2021

February 2, 2022


Company name:		Mitsubishi UFJ Financial Group, Inc.
Stock exchange listings:		Tokyo, Nagoya, New York
Code number:		8306
URL		https://www.mufg.jp/
Representative:		Hironori Kamezawa, President & Group CEO
For inquiry:		Masahisa Takahashi, Managing Director, Head of Financial Accounting and Reporting, Financial Accounting Office, Financial Planning Division
		TEL 050-3613-1179
Quarterly securities report issuing date:		February 14, 2022
Dividend payment date:		-
Trading accounts:		Established
Supplemental information for quarterly financial statements:		Available
Quarterly investor meeting presentation:		None

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

1. Consolidated Financial Data for the Nine Months ended December 31, 2021

(1)	Results of Operations


	(% represents the change from the same period in the previous fiscal year)
	Ordinary Income					Ordinary Profits					Profits Attributable to Owners of Parent
	million yen		%			million yen		%			million yen		%
For the nine months ended
December 31, 2021		4,362,918		(2.9	)		1,393,611		65.8			1,070,398		76.3
December 31, 2020		4,495,026		(15.3	)		840,619		(22.7	)		607,037		3.3

(*)	Comprehensive income

December 31, 2021: 1,354,948 million yen, 25.5 % ; December 31, 2020: 1,079,332 million yen, 19.5 %


	Basic earnings per share		Diluted earnings per share
	yen		yen
For the nine months ended
December 31, 2021		83.44		83.16
December 31, 2020		47.27		47.09

(2)	Financial Conditions


	Total Assets		Total Net Assets		Equity-to-asset *ratio ()**
	million yen		million yen		%
As of
December 31, 2021		365,775,392		18,623,281		4.8
March 31, 2021		359,473,515		17,716,257		4.7

(Reference) Shareholders’ equity as of December 31, 2021: 17,686,570 million yen; March 31, 2021: 16,802,572 million yen

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

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

2. Dividends on Common Stock


	Dividends per Share
	1st quarter-end		2nd quarter-end		3rd quarter-end		Fiscal year-end		Total
	yen		yen		yen		yen		yen
For the fiscal year
ended March 31, 2021		—		12.50		—		12.50		25.00
ending March 31, 2022		—		13.50		—
ending March 31, 2022 (Forecast)								14.50		28.00

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

3. Earnings Target for the Fiscal Year ending March 31, 2022 (Consolidated)

MUFG has the target of 1,050.0 billion yen of profits attributable to owners of parent for the fiscal year ending March 31, 2022. (There is no change to our earnings target released on November 15, 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.

ø Notes

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

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

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

(A) Changes in accounting policies due to revision of accounting standards: Yes

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

(D) Restatements: No

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


(A) Total stocks outstanding including treasury stocks:	December 31, 2021	13,281,995,120 shares
	March 31, 2021	13,581,995,120 shares
(B) Treasury stocks:	December 31, 2021	559,745,255 shares
	March 31, 2021	737,192,810 shares
(C) Average outstanding of total stocks:	Nine months ended December 31, 2021	12,828,619,616 shares
	Nine months ended December 31, 2020	12,843,043,046 shares

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

ø Notes for using forecasted information etc.

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

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

Mitsubishi UFJ Financial Group, Inc.

(Appendix)

Contents of Appendix


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

Supplemental Information:

“Selected Financial Information under Japanese GAAP For the Nine Months Ended December 31, 2021”

Mitsubishi UFJ Financial Group, Inc.

1. Consolidated Financial Statements and Notes

(1) Consolidated Balance Sheets


(in millions of yen)	As of March 31, 2021			As of December 31, 2021
Assets:
Cash and due from banks		102,980,711			110,385,206
Call loans and bills bought		730,506			832,680
Receivables under resale agreements		13,942,910			11,939,046
Receivables under securities borrowing transactions		3,394,376			3,044,458
Monetary claims bought		5,982,876			5,993,841
Trading assets		20,552,367			18,688,882
Money held in trust		1,283,179			1,299,506
Securities		77,122,074			80,886,046
Loans and bills discounted		107,183,069			106,115,683
Foreign exchanges		1,915,010			2,069,616
Other assets		12,406,158			11,472,801
Tangible fixed assets		1,296,402			1,259,084
Intangible fixed assets		1,436,098			1,419,829
Net defined benefit assets		1,210,577			1,285,141
Deferred tax assets		137,988			146,227
Customers’ liabilities for acceptances and guarantees		9,004,749			9,915,054
Allowance for credit losses		(1,105,541	)		(977,716	)

Total assets		359,473,515			365,775,392

Liabilities:
Deposits		211,521,257			211,413,549
Negotiable certificates of deposit		8,099,119			9,809,610
Call money and bills sold		2,330,808			2,124,309
Payables under repurchase agreements		24,483,519			30,326,079
Payables under securities lending transactions		836,351			358,408
Commercial papers		1,810,350			2,303,120
Trading liabilities		14,002,667			11,841,001
Borrowed money		31,110,465			31,376,323
Foreign exchanges		2,105,245			2,182,324
Short-term bonds payable		1,043,001			1,045,803
Bonds payable		12,908,505			13,455,272
Due to trust accounts		11,208,570			10,626,741
Other liabilities		9,754,731			8,918,706
Reserve for bonuses		118,358			86,432
Reserve for bonuses to directors		1,816			1,336
Reserve for stocks payment		10,915			7,929
Net defined benefit liabilities		88,914			93,249
Reserve for retirement benefits to directors		872			795
Reserve for loyalty award credits		18,312			18,585
Reserve for contingent losses		183,855			158,994
Reserves under special laws		4,642			4,647
Deferred tax liabilities		1,008,650			987,429
Deferred tax liabilities for land revaluation		101,577			96,406
Acceptances and guarantees		9,004,749			9,915,054

Total liabilities		341,757,258			347,152,111

Mitsubishi UFJ Financial Group, Inc.


(in millions of yen)	As of March 31, 2021			As of December 31, 2021
Net assets:
Capital stock		2,141,513			2,141,513
Capital surplus		977,287			770,373
Retained earnings		11,200,087			11,937,436
Treasury stock		(502,794	)		(375,168	)

Total shareholders’ equity		13,816,094			14,474,155

Net unrealized gains (losses) on available-for-sale securities		2,583,417			2,465,420
Net deferred gains (losses) on hedging instruments		131,566			69,020
Land revaluation excess		149,183			140,904
Foreign currency translation adjustments		9,953			432,229
Remeasurements of defined benefit plans		163,189			146,944
Debt value adjustments of foreign subsidiaries and affiliates		(50,832	)		(42,105	)

Total accumulated other comprehensive income		2,986,478			3,212,414

Non-controlling interests		913,684			936,710

Total net assets		17,716,257			18,623,281

Total liabilities and net assets		359,473,515			365,775,392

Mitsubishi UFJ Financial Group, Inc.

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

Consolidated Statements of Income


(in millions of yen)	For the nine months ended December 31, 2020			For the nine months ended December 31, 2021
Ordinary income		4,495,026			4,362,918
Interest income		2,010,750			1,887,228
Interest on loans and bills discounted		1,367,636			1,208,048
Interest and dividends on securities		324,350			397,420
Trust fees		105,146			107,925
Fees and commissions		1,109,868			1,245,749
Trading income		278,365			176,842
Other operating income		552,411			268,460
Other ordinary income		438,483			676,711
Ordinary expenses		3,654,407			2,969,306
Interest expenses		619,710			395,989
Interest on deposits		220,015			135,630
Fees and commissions		218,539			223,068
Trading expenses		—			2,970
Other operating expenses		276,191			113,393
General and administrative expenses		1,999,078			2,006,496
Other ordinary expenses		540,887			227,387

Ordinary profits		840,619			1,393,611

Extraordinary gains		22,883			126,805
Gains on disposition of fixed assets		15,539			21,701
Gains on change in equity		—			64,601
Gains on sales of shares of affiliates		7,344			27,870
Gains on transfer of businesses		—			8,391
Gains on sales of shares of subsidiaries		—			4,240
Extraordinary losses		43,574			64,209
Losses on disposition of fixed assets		7,432			7,791
Losses on impairment of fixed assets		19,425			36,756
Provision for reserve for contingent liabilities from financial instruments transactions		136			4
Losses on change in equity		16,580			19,657

Profits before income taxes		819,927			1,456,207

Income taxes-current		193,897			256,408
Income taxes-deferred		(42,728	)		69,919

Total taxes		151,168			326,327

Profits		668,759			1,129,879

Profits attributable to non-controlling interests		61,721			59,481

Profits attributable to owners of parent		607,037			1,070,398

Mitsubishi UFJ Financial Group, Inc.

Consolidated Statements of Comprehensive Income


(in millions of yen)	For the nine months ended December 31, 2020			For the nine months ended December 31, 2021
Profits		668,759			1,129,879
Other comprehensive income
Net unrealized gains (losses) on available-for-sale securities		639,299			(90,033	)
Net deferred gains (losses) on hedging instruments		41,991			(65,601	)
Foreign currency translation adjustments		(279,095	)		267,237
Remeasurements of defined benefit plans		16,436			(17,113	)
Share of other comprehensive income of associates accounted for using equity method		(8,058	)		130,580

Total other comprehensive income		410,573			225,069

Comprehensive income		1,079,332			1,354,948

(Comprehensive income attributable to)
Comprehensive income attributable to owners of parent		1,040,064			1,303,978
Comprehensive income attributable to non-controlling interests		39,268			50,969

Mitsubishi UFJ Financial Group, Inc.

(3) Notes on Going-Concern Assumption

None.

(4) Notes for Material Changes in Shareholders’ Equity

None.

(5) Changes in Accounting Policies

(Accounting Standard for Revenue Recognition)

Accounting Standard Board of Japan (“ASBJ”) Statement No. 29, “Accounting Standard for Revenue Recognition” (ASBJ, March 30, 2018), and ASBJ Guidance No. 30, “Implementation Guidance on Accounting Standard for Revenue Recognition” (ASBJ, March 30, 2018), are applied from the beginning of the nine months ended December 31, 2021. Under these accounting standards, revenue is recognized in an amount expected to be received in exchange for goods or services when control of promised goods or services is transferred to a customer. A primary change resulting from the application of these accounting standards relates to revenue from annual membership fees recorded as income from the credit card business. Such revenue was previously recognized when received from customers but is currently recognized over the period in which the services are provided.

In accordance with the transitional measures set forth in the proviso in paragraph 84 of the Accounting Standard for Revenue Recognition, the cumulative effect of retroactively applying the new accounting policy to reporting periods prior to the beginning of the nine months ended December 31, 2021 was recognized as adjustments to retained earnings at the beginning of the nine months ended December 31, 2021, and the new accounting policy is applied from the beginning of the nine months ended December 31, 2021 as a change in MUFG’s accounting policies. However, due to application of the method set forth in paragraph 86 of the Accounting Standard for Revenue Recognition, the new accounting policy was not retroactively applied to a contract for which substantially all of the revenue had been recognized in accordance with the previous accounting treatment prior to the beginning of the nine months ended December 31, 2021.

As a result, at the beginning of the nine months ended December 31, 2021, retained earnings decreased by ¥6,617 million. The impact on each of fees and commissions income, ordinary profits and profits before income taxes for the nine months ended December 31, 2021 is not significant.

In accordance with the transitional measures set forth in paragraph 28-15 of ASBJ Statement No.12, “Accounting Standard for Quarterly Financial Reporting” (ASBJ, March 31, 2020), information on breakdowns of revenues from contracts with customers for the nine months ended December 31, 2020 is not disclosed.

(6) Changes in Presentation of Financial Information

From the beginning of the nine months ended December 31, 2021, expenses related to credit cards, which were previously recorded as general and administrative expenses, are recorded as fees and commissions expenses.

This reflects the change made in the presentation of expenses corresponding to income related to credit cards, which is recorded as fees and commissions income, as a result of a review of fees and commissions income that was conducted in connection with the adoption of ASBJ Statement No. 29, “Accounting Standard for Revenue Recognition” and ASBJ Guidance No. 30, “Implementation Guidance on Accounting Standard for Revenue Recognition” from the beginning of the nine months ended December 31 2021, to disclose financial information in a manner that more closely reflects the actual economic situation.

In order to reflect this change in the presentation of the financial information, the consolidated financial statements for the nine months ended December 31, 2020, have been retroactively restated.

As a result, fees and commissions expenses of ¥164,609 million and general and administrative expenses of ¥2,053,007 million previously presented in the consolidated statement of income for the nine months ended December 31, 2020 have been restated, resulting in the current presentation of fees and commissions expenses of ¥218,539 million and general and administrative expenses of ¥1,999,078 million.

Mitsubishi UFJ Financial Group, Inc.

(7) Additional Information

(Estimated impact of the COVID-19 pandemic relating to allowance for credit losses)

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

Among these, internal credit ratings are assigned to counterparties based on qualitative factors such as the current and expected future business environment of the industry to which they belong as well as their management and funding risks in addition to quantitative financial evaluations through an analysis of their financial results. In particular, the COVID-19 pandemic has had a significant impact on the financial position and operating results of certain counterparties. Determination of internal credit ratings for these counterparties may be highly dependent on our assessment of the prospects of improvements in their operating results and their ability to continue as going concerns.

When calculating allowance for credit losses, MUFG Bank, Ltd., our principal consolidated domestic banking subsidiary, determines expected loss rates primarily by calculating a rate of loss based on a historical average of the credit loss rate or a historical average of the default probability derived from actual credit loss experience or actual bankruptcy experience and making necessary adjustments based on future projections and other factors. When making adjustments based on future loss projections and other factors to loss rates calculated based on historical loss experience, the subsidiary takes into account the rate of increase in the credit loss rate or the default probability in a more recent period, especially in light of the deterioration in the economic environment under the COVID-19 pandemic. The amount of impact of these adjustments was ¥5,136 million as of December 31, 2021 (¥30,846 million as of March 31, 2021).

In addition, certain overseas subsidiaries which apply Generally Accepted Accounting Principles in the United States (“U.S. GAAP”) have adopted Accounting Standards Codification (“ASC”) Topic 326, “Measurement of Credit Losses on Financial Instruments,” issued by the Financial Accounting Standards Board and provide for allowance for credit losses by estimating credit losses currently expected for the remaining term of the relevant contracts. Expected credit losses are calculated using a quantitative model that reflects economic forecast scenarios based on macroeconomic variables. The calculation process includes determination of macroeconomic variables used in multiple economic forecast scenarios and the weightings applied to each economic forecast scenario. Expected credit losses are adjusted for qualitative factors to compensate for expected credit losses that are not reflected in a quantitative model. No allowance for credit losses was recorded for the loans reclassified as loans held for sale in connection with the execution of the Share Purchase Agreement pursuant to which all of the shares of MUFG Union Bank, N.A. held by MUFG Americas Holdings Corporation will be sold to U.S. Bancorp because these loans are measured at fair value in accordance with ASC Topic 310, “Receivables”.

Significant assumptions used in our calculation of allowance for credit losses, including those described above, are subject to uncertainty. In particular, certain counterparties’ prospects of improvements in their operating results and expectations as to their ability to continue as going concerns, and adjustments to the rate of loss calculated based on actual experience for future projections and other factors, as well as determination of the macroeconomic variables used in, and the weightings applied to, multiple economic forecast scenarios, and adjustments thereto for qualitative factors, by certain subsidiaries which apply U.S. GAAP, are based on estimation relating to the economic environment, including the outlook relating to the COVID-19 pandemic, with respect to which objective data are not readily available. The outlook relating to the COVID-19 pandemic, which is expected to further impact our counterparties’ operating environment and the economic environment, remains subject to significant uncertainty due to such factors as the impact of virus variants. Accordingly, we make certain assumptions, including that, with progress in vaccines and medications, the outlook will generally be on an improving trend, although it will still take some time before the uncertainty related to future infection trends sufficiently decreases. The recorded allowance for credit losses represents our best estimation made in a manner designed to ensure objectivity and rationality.

Mitsubishi UFJ Financial Group, Inc.

For the nine months ended December 31, 2021, the assumptions for making estimates relating to allowance for credit losses remained substantially unchanged because the observable changes subsequent to the end of the previous fiscal year in the factors and circumstances underlying the assumptions were not sufficiently significant to cause such change in the assumptions. However, these assumptions are highly uncertain, and significant additional provision for credit losses may be recognized for the fiscal year ending March 31, 2022 and subsequent reporting periods due to developments affecting the impact of the COVID-19 pandemic on the financial performance of counterparties or on the economic environment.

(Major overseas subsidiaries’ total credit costs which are expected to be reflected in MUFG’s consolidated financial statements as of and for the fourth quarter of the fiscal year ending March 31, 2022)

Major overseas subsidiaries which were consolidated based on their financial statements as of and for the quarter ended September 30, 2021 adopted ASC Topic 326, “Measurement of Credit Losses on Financial Instruments,” the standard that introduced the concept of current expected credit loss, as of the beginning of the first quarter of the fiscal year ended December 31, 2020. As a result, these subsidiaries record provision for allowance for credit losses by taking into account certain forecasted information such as macroeconomic indicators.

Under the standard, it is currently estimated that the subsidiaries’ total credit costs for the quarter ended December 31, 2021 will be approximately ¥40 billion. The subsidiaries’ total credit costs will be reflected in MUFG’s consolidated financial statements as of and for the quarter ending March 31, 2022.

The definition of total credit costs is described in “1. Financial Results” of “Selected Financial Information under Japanese GAAP For the Nine Months Ended December 31, 2021”.

Selected Financial Information

under Japanese GAAP

For the Nine Months Ended December 31, 2021


Mitsubishi UFJ Financial Group, Inc.

Mitsubishi UFJ Financial Group, Inc.

[Contents]


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

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

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

4. ROE	[MUFG Consolidated]	9

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

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

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

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

(*2)	“BK” means MUFG Bank, Ltd.

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

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

Mitsubishi UFJ Financial Group, Inc.

1. Financial Results

MUFG Consolidated


	(in millions of yen)
	For the nine months ended						Increase (Decrease) (A) - (B)
	December 31, 2021 (A)			December 31, 2020 (B)			Increase (Decrease) (A) - (B)
Gross profits		2,950,895			2,942,262			8,633
Gross profits before credit costs for trust accounts		2,950,846			2,942,262			8,583
Net interest income		1,491,350			1,391,201			100,148
Trust fees		107,925			105,146			2,779
Credit costs for trust accounts (1)		49			(0	)		49
Net fees and commissions		1,022,681			891,329			131,352
Net trading profits		173,871			278,365			(104,493	)
Net other operating profits		155,066			276,220			(121,153	)
Net gains (losses) on debt securities		66,188			208,329			(142,141	)
General and administrative expenses		2,017,815			1,969,235			48,579
Amortization of goodwill		13,147			12,392			754
Net operating profits before credit costs for trust accounts, provision for general allowance for credit losses and amortization of goodwill		946,177			985,419			(39,241	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		933,030			973,026			(39,995	)
Provision for general allowance for credit losses (2)		—			(96,424	)		96,424
Net operating profits*¹		933,079			876,602			56,477
Net non-recurring gains (losses)		460,531			(35,982	)		496,514
Credit costs (3)		(117,703	)		(295,121	)		177,418
Losses on loan write-offs		(110,646	)		(133,218	)		22,572
Provision for specific allowance for credit losses		—			(158,013	)		158,013
Other credit costs		(7,056	)		(3,889	)		(3,166	)
Reversal of allowance for credit losses (4)		25,874			—			25,874
Reversal of reserve for contingent losses included in credit costs (5)		2,511			—			2,511
Gains on loans written-off (6)		61,971			47,884			14,086
Net gains (losses) on equity securities		194,899			72,798			122,101
Gains on sales of equity securities		220,027			120,713			99,313
Losses on sales of equity securities		(19,232	)		(31,220	)		11,987
Losses on write-down of equity securities		(5,894	)		(16,694	)		10,800
Equity in earnings of equity method investees		324,508			235,689			88,819
Other non-recurring gains (losses)		(31,531	)		(97,232	)		65,701

Ordinary profits		1,393,611			840,619			552,992

Net extraordinary gains (losses)		62,595			(20,691	)		83,286
Net gains (losses) on disposition of fixed assets		13,910			8,106			5,803
Losses on impairment of fixed assets		(36,756	)		(19,425	)		(17,331	)
Net gains (losses) on change in equity		44,944			(16,580	)		61,524
Gains on sales of shares of affiliates		27,870			7,344			20,526
Gains on transfer of businesses		8,391			—			8,391
Gains on sales of shares of subsidiaries		4,240			—			4,240
Profits before income taxes		1,456,207			819,927			636,279
Income taxes-current		256,408			193,897			62,511
Income taxes-deferred		69,919			(42,728	)		112,647
Total taxes		326,327			151,168			175,159
Profits		1,129,879			668,759			461,119
Profits attributable to non-controlling interests		59,481			61,721			(2,240	)

Profits attributable to owners of parent		1,070,398			607,037			463,360

Note:
1. Net operating profits = Banking subsidiaries’ net operating profits + Other consolidated entities’ gross profits - Other consolidated entities’ general and administrative expenses - Other consolidated entities’ provision for general allowance for credit losses - Amortization of goodwill - Inter-company transactions 2. From the beginning of the nine months ended December 31, 2021, expenses related to credit cards, which were previously recorded as general and administrative expenses, are recorded as fees and commissions expenses. Accordingly, the financial information for the nine months ended December 31, 2020 have been retroactively restated.

(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		(27,296	)		(343,661	)		316,365

Mitsubishi UFJ Financial Group, Inc.

BK and TB Combined


	(in millions of yen)
	For the nine months ended						Increase (Decrease) (A) - (B)
	December 31, 2021 (A)			December 31, 2020 (B)			Increase (Decrease) (A) - (B)
Gross profits		1,448,889			1,441,357			7,531
Gross profits before credit costs for trust accounts		1,448,840			1,441,358			7,482
Net interest income		856,492			696,879			159,613
Trust fees		87,733			84,739			2,993
Credit costs for trust accounts (1)		49			(0	)		49
Net fees and commissions		369,496			331,987			37,509
Net trading profits		41,908			90,777			(48,869	)
Net other operating profits		93,258			236,973			(143,715	)
Net gains (losses) on debt securities		55,934			189,084			(133,150	)
General and administrative expenses		976,980			1,000,614			(23,634	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		471,859			440,743			31,116
Provision for general allowance for credit losses (2)		—			11,110			(11,110	)
Net operating profits		471,908			451,854			20,054
Net non-recurring gains (losses)		209,454			(89,448	)		298,902
Credit costs (3)		(16,048	)		(101,132	)		85,083
Reversal of allowance for credit losses (4)		16,915			54			16,860
Reversal of reserve for contingent losses included in credit costs (5)		4,068			448			3,619
Gains on loans written-off (6)		12,075			5,494			6,581
Net gains (losses) on equity securities		186,425			63,529			122,895
Gains on sales of equity securities		210,878			111,452			99,426
Losses on sales of equity securities		(19,375	)		(31,225	)		11,849
Losses on write-down of equity securities		(5,076	)		(16,697	)		11,620
Other non-recurring gains (losses)		6,017			(57,843	)		63,861

Ordinary profits		681,362			362,405			318,957

Net extraordinary gains (losses)		4,947			(3,362	)		8,310
Income before income taxes		686,310			359,043			327,267
Income taxes-current		173,992			111,281			62,710
Income taxes-deferred		25,062			(20,517	)		45,580
Total taxes		199,055			90,764			108,291

Net income		487,255			268,278			218,976


(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		17,059			(84,024	)		101,083
Credit costs for trust accounts		49			(0	)		49
Provision for general allowance for credit losses		137,340			11,333			126,006
Provision for special allowance for credit losses		(118,736	)		(80,671	)		(38,065	)
Allowance for credit to specific foreign borrowers		(1,688	)		(367	)		(1,320	)
Losses on loans write-offs		(12,361	)		(17,826	)		5,465
Provision for contingent losses included in credit costs		3,928			448			3,480
Gains on loans written-off		12,075			5,494			6,581
Losses on sales of other loans, etc.		(3,547	)		(2,435	)		(1,112	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities		415,925			251,658			164,266
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		365,011			261,395			103,615

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated


	(in millions of yen)
	For the nine months ended						Increase (Decrease) (A) - (B)
	December 31, 2021 (A)			December 31, 2020 (B)			Increase (Decrease) (A) - (B)
Gross profits		1,163,716			1,202,656			(38,940	)
Net interest income		718,767			605,283			113,484
Net fees and commissions		298,974			267,588			31,385
Net trading profits		35,085			87,974			(52,888	)
Net other operating profits		110,887			241,810			(130,922	)
Net gains (losses) on debt securities		69,653			195,923			(126,270	)
General and administrative expenses		837,077			853,730			(16,652	)
Amortization of goodwill		1,170			1,139			31
Net operating profits before provision for general allowance for credit losses and amortization of goodwill		327,809			350,066			(22,256	)
Net operating profits before provision for general allowance for credit losses		326,638			348,926			(22,288	)
Provision for general allowance for credit losses (1)		—			11,110			(11,110	)
Net operating profits		326,638			360,037			(33,399	)
Net non-recurring gains (losses)		178,153			(90,311	)		268,464
Credit costs (2)		(15,908	)		(101,125	)		85,216
Reversal of allowance for credit losses (3)		16,654			—			16,654
Reversal of reserve for contingent losses included in credit costs (4)		4,068			358			3,709
Gains on loans written-off (5)		12,054			5,494			6,560
Net gains (losses) on equity securities		156,429			41,816			114,612
Gains on sales of equity securities		178,138			76,911			101,227
Losses on sales of equity securities		(17,632	)		(22,800	)		5,167
Losses on write-down of equity securities		(4,076	)		(12,294	)		8,218

Other non-recurring gains (losses)		4,855			(36,855	)		41,710

Ordinary profits		504,792			269,726			235,065
Net extraordinary gains (losses)		6,045			(132	)		6,178
Income before income taxes		510,838			269,593			241,244
Income taxes-current		140,426			93,784			46,641
Income taxes-deferred		19,232			(23,463	)		42,696
Total taxes		159,659			70,321			89,338

Net income		351,178			199,272			151,906


(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)		16,868			(84,162	)		101,030
Provision for general allowance for credit losses		137,081			11,110			125,970
Provision for special allowance for credit losses		(118,738	)		(80,502	)		(38,235	)
Allowance for credit to specific foreign borrowers		(1,688	)		(367	)		(1,320	)
Losses on loans write-off		(12,361	)		(17,820	)		5,458
Provision for contingent losses included in credit costs		4,068			358			3,709
Gains on loans written-off		12,054			5,494			6,560
Losses on sales of other loans, etc.		(3,547	)		(2,435	)		(1,112	)

Net operating profits before provision for general allowance for credit losses, excluding net gains (losses) on debt securities		256,985			153,003			103,981
Net operating profits before provision for general allowance for credit losses, excluding net gains (losses) on debt securities and investment trusts cancellation		208,311			154,857			53,454

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated


	(in millions of yen)
	For the nine months ended						Increase (Decrease) (A) - (B)
	December 31, 2021 (A)			December 31, 2020 (B)			Increase (Decrease) (A) - (B)
Gross profits		285,173			238,700			46,472
Gross profits before credit costs for trust accounts		285,123			238,701			46,422
Trust fees		87,733			84,739			2,993
Credit costs for trust accounts (1)		49			(0	)		49
Net interest income		137,724			91,595			46,128
Net fees and commissions		70,521			64,398			6,123
Net trading profits		6,822			2,803			4,019
Net other operating profits		(17,629	)		(4,836	)		(12,793	)
Net gains (losses) on debt securities		(13,718	)		(6,838	)		(6,879	)
General and administrative expenses		139,902			146,884			(6,981	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		145,221			91,816			53,404
Provision for general allowance for credit losses (2)		—			—			—
Net operating profits		145,270			91,816			53,453
Net non-recurring gains (losses)		31,300			862			30,437
Credit costs (3)		(139	)		(6	)		(133	)
Reversal of allowance for credit losses (4)		260			54			205
Reversal of reserve for contingent losses included in credit costs (5)		—			89			(89	)
Gains on loans written-off (6)		20			0			20
Net gains (losses) on equity securities		29,996			21,712			8,283
Gains on sales of equity securities		32,739			34,541			(1,801	)
Losses on sales of equity securities		(1,743	)		(8,424	)		6,681
Losses on write-down of equity securities		(1,000	)		(4,403	)		3,402
Other non-recurring gains (losses)		1,162			(20,988	)		22,151

Ordinary profits		176,570			92,679			83,891

Net extraordinary gains (losses)		(1,098	)		(3,229	)		2,131
Income before income taxes		175,472			89,449			86,022
Income taxes-current		33,566			17,496			16,069
Income taxes-deferred		5,830			2,946			2,883
Total taxes		39,396			20,443			18,953

Net income		136,076			69,006			67,069


(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		190			138			52
Credit costs for trust accounts		49			(0	)		49
Provision for general allowance for credit losses		258			223			35
Provision for special allowance for credit losses		1			(168	)		169
Allowance for credit to specific foreign borrowers		—			—			—
Losses on loans write-offs		—			(6	)		6
Provision for contingent losses included in credit costs		(139	)		89			(229	)
Gains on loans written-off		20			0			20
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		158,939			98,655			60,284
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		156,700			106,538			50,161

Mitsubishi UFJ Financial Group, Inc.

2. Non Performing Loans Based on the Financial Reconstruction Law

BK and TB Combined including Trust Account


	(in millions of yen)
	As of December 31, 2021			As of March 31, 2021
Bankrupt or De facto Bankrupt		116,123			147,818
Doubtful		543,204			416,668
Special Attention		288,095			293,879
Non Performing Loans		947,423			858,366
Total loans		99,182,097			100,392,617
Non Performing Loans / Total loans		0.95	%		0.85	%

BK Non-consolidated


	(in millions of yen)
	As of December 31, 2021			As of March 31, 2021
Bankrupt or De facto Bankrupt		116,049			147,768
Doubtful		541,429			414,688
Special Attention		288,095			293,879
Non Performing Loans		945,574			856,336
Total loans		96,251,868			96,949,512
Non Performing Loans / Total loans		0.98	%		0.88	%

TB Non-consolidated


	(in millions of yen)
	As of December 31, 2021			As of March 31, 2021
Bankrupt or De facto Bankrupt		74			50
Doubtful		1,772			1,978
Special Attention		—			—
Non Performing Loans		1,847			2,028
Total loans		2,925,232			3,437,052
Non Performing Loans / Total loans		0.06	%		0.05	%

TB Non-consolidated: Trust Account


	(in millions of yen)
	As of December 31, 2021			As of March 31, 2021
Bankrupt or De facto Bankrupt		—			—
Doubtful		1			2
Special Attention		—			—
Non Performing Loans		1			2
Total loans		4,995			6,051
Non Performing Loans / Total loans		0.03	%		0.03	%

Mitsubishi UFJ Financial Group, Inc.

3. Securities

MUFG Consolidated

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

(in millions of yen)

As of December 31, 2021

As of March 31, 2021

Amount on
consolidated
balance sheet

Unrealized
gains (losses)

Amount on
consolidated
balance sheet

Unrealized
gains (losses)

Debt securities being held to maturity

3,552,510

32,094

3,903,764

35,380

(in millions of yen)

As of December 31, 2021

As of March 31, 2021

Amount on
consolidated
balance sheet

Unrealized
gains (losses)

Amount on
consolidated
balance sheet

Unrealized
gains (losses)

Available-for-sale securities

77,015,312

3,604,114

73,892,007

3,749,919

Domestic equity securities

5,134,813

3,377,381

5,216,386

3,350,537

Domestic bonds

40,702,992

104,696

40,552,270

122,506

Other

31,177,506

122,035

28,123,350

276,874

Foreign equity securities

258,047

80,624

86,025

21,102

Foreign bonds

24,578,105

(114,499

)

21,236,699

103,001

Other

6,341,354

155,910

6,800,625

152,770

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

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

(in millions of yen)

As of December 31, 2021

As of March 31, 2021

Amount on
balance sheet

Unrealized
gains (losses)

Amount on
balance sheet

Unrealized
gains (losses)

Debt securities being held to maturity

1,929,252

17,536

1,785,106

14,751

Stocks of subsidiaries and affiliates

625,594

470,736

625,594

527,522

(in millions of yen)

As of December 31, 2021

As of March 31, 2021

Amount on
balance sheet

Unrealized
gains (losses)

Amount on
balance sheet

Unrealized
gains (losses)

Available-for-sale securities

57,646,147

2,693,877

57,463,835

2,711,253

Domestic equity securities

4,292,880

2,764,214

4,320,383

2,703,898

Domestic bonds

37,457,066

97,001

38,401,935

119,605

Other

15,896,200

(167,338

)

14,741,516

(112,250

)

Foreign equity securities

210,748

72,333

61,701

14,126

Foreign bonds

11,901,584

(246,929

)

11,001,832

(179,648

)

Other

3,783,868

7,257

3,677,982

53,270

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

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

(in millions of yen)

As of December 31, 2021

As of March 31, 2021

Amount on
balance sheet

Unrealized
gains (losses)

Amount on
balance sheet

Unrealized
gains (losses)

Debt securities being held to maturity

1,529,901

14,080

1,259,698

(1,968

)

Stocks of subsidiaries and affiliates

68,382

1,349

67,814

2,389

(in millions of yen)

As of December 31, 2021

As of March 31, 2021

Amount on
balance sheet

Unrealized
gains (losses)

Amount on
balance sheet

Unrealized
gains (losses)

Available-for-sale securities

13,138,481

799,317

11,016,988

853,279

Domestic equity securities

873,285

553,044

939,291

595,246

Domestic bonds

3,243,891

7,696

2,136,137

2,797

Other

9,021,304

238,576

7,941,559

255,235

Foreign equity securities

Foreign bonds

7,197,997

103,277

6,262,308

166,399

Other

1,823,246

135,255

1,679,194

88,794

Mitsubishi UFJ Financial Group, Inc.

4. ROE

MUFG Consolidated


	(%)
	For the nine months ended December 31, 2021		For the nine months ended December 31, 2020
ROE		9.93		5.90

Note:

ROE is computed as follows:

Profits attributable to owners of parent × 4 / 3

×100

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

+ (Total shareholders’ equity at the end of the period + Foreign currency translation adjustments at the end of the period)} / 2

Mitsubishi UFJ Financial Group, Inc.

5. Average Interest Rate Spread

BK and TB Combined


	(percentage per annum)
(Domestic business segment)	For the nine months ended December 31, 2021		For the nine months ended December 31, 2020
Average interest rate on loans and bills discounted		0.72		0.70
Average interest rate on deposits and NCD		0.00		0.00
Interest rate spread		0.72		0.69

(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted		0.75		0.74
Interest rate spread		0.75		0.73

BK Non-consolidated

	(percentage per annum)
(Domestic business segment)	For the nine months ended December 31, 2021		For the nine months ended December 31, 2020
Average interest rate on loans and bills discounted		0.73		0.72
Average interest rate on deposits and NCD		0.00		0.00
Interest rate spread		0.73		0.71

(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted		0.75		0.74
Interest rate spread		0.75		0.74

TB Non-consolidated

	(percentage per annum)
(Domestic business segment)	For the nine months ended December 31, 2021		For the nine months ended December 31, 2020
Average interest rate on loans and bills discounted		0.37		0.32
Average interest rate on deposits and NCD		0.02		0.02
Interest rate spread		0.34		0.29

(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted		0.69		0.63
Interest rate spread		0.67		0.60

Mitsubishi UFJ Financial Group, Inc.

6. Loans and Deposits

BK and TB Combined


	(in millions of yen)
	As of December 31, 2021		As of March 31, 2021
Deposits (ending balance)		190,512,788		193,113,145
Deposits (average balance)		194,410,679		185,829,055
Loans (ending balance)		89,707,232		91,736,843
Loans (average balance)		90,472,219		95,408,988

	(in millions of yen)
	As of December 31, 2021		As of March 31, 2021
Domestic deposits (ending balance)*		165,268,123		165,816,616
Individuals		88,392,490		84,848,585

Note:

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

BK Non-consolidated


	(in millions of yen)
	As of December 31, 2021		As of March 31, 2021
Deposits (ending balance)		179,734,553		182,239,930
Deposits (average balance)		183,519,801		174,690,226
Loans (ending balance)		86,954,378		88,447,036
Loans (average balance)		87,608,199		91,697,219

	(in millions of yen)
	As of December 31, 2021		As of March 31, 2021
Domestic deposits (ending balance)*		155,922,983		156,280,910
Individuals		82,103,546		78,277,523

Note:

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

TB Non-consolidated


	(in millions of yen)
	As of December 31, 2021		As of March 31, 2021
Deposits (ending balance)		10,778,234		10,873,215
Deposits (average balance)		10,890,877		11,138,829
Loans (ending balance)		2,752,854		3,289,807
Loans (average balance)		2,864,019		3,711,769

	(in millions of yen)
	As of December 31, 2021		As of March 31, 2021
Domestic deposits (ending balance)*		9,345,139		9,535,706
Individuals		6,288,944		6,571,062

Note:

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

Mitsubishi UFJ Financial Group, Inc.

7. Statements of Trust Assets and Liabilities

TB Non-consolidated

Including trust assets under service-shared co-trusteeship


(in millions of yen)	As of March 31, 2021		As of December 31, 2021
Assets:
Loans and bills discounted		413,435		800,163
Securities		59,314,971		61,721,904
Beneficiary rights to the trust		93,565,184		106,780,074
Securities held in custody accounts		3,636,243		3,806,361
Monetary claims		32,652,514		40,299,576
Tangible fixed assets		17,354,800		18,584,359
Intangible fixed assets		135,444		146,602
Other claims		3,154,313		1,844,190
Call loans		1,244,794		771,226
Due from banking account		10,043,198		9,056,739
Cash and due from banks		5,567,619		5,009,039

Total		227,082,519		248,820,238

Liabilities:
Money trusts		28,470,351		26,843,770
Pension trusts		12,004,133		12,248,308
Property formation benefit trusts		6,736		6,491
Investment trusts		98,512,832		110,639,617
Money entrusted other than money trusts		5,006,270		5,684,592
Securities trusts		5,949,600		6,479,185
Monetary claim trusts		30,677,531		36,238,878
Equipment trusts		156,727		139,595
Land and fixtures trusts		18,856		18,325
Composite trusts		46,279,479		50,521,473

Total		227,082,519		248,820,238


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 502,487 millions of yen as of March 31, 2021 and 505,115 millions of yen as of December 31, 2021, respectively.