XML 129 R76.htm IDEA: XBRL DOCUMENT

Fair Value (Tables)

12 Months Ended

Mar. 31, 2024

Assets and Liabilities Measured at Fair Value by Level on Recurring Basis

The following tables present the financial instruments carried at fair value by level within the fair value hierarchy as of March 31, 2023 and 2024:


At March 31, 2023	Level 1		Level 2		Level 3		Fair Value
	(in millions)
Assets
Trading account assets:
Trading securities(1)	¥	19,098,208	¥	12,746,415	¥	1,182,319	¥	33,026,942
Debt securities
Japanese national government and Japanese government agency bonds	6,092,523		329,502		—		6,422,025
Japanese prefectural and municipal bonds	—		279,168		—		279,168
Foreign government and official institution bonds	11,760,274		493,691		1,168		12,255,133
Corporate bonds	3,965		2,252,424		—		2,256,389
Residential mortgage-backed securities	—		4,978,709		—		4,978,709
Commercial mortgage-backed securities	—		4,627		—		4,627
Asset-backed securities	—		1,210,381		668,911		1,879,292
Other debt securities	—		—		334,124		334,124
Commercial paper	—		1,931,569		—		1,931,569
Equity securities(2)	1,241,446		1,266,344		178,116		2,685,906
Trading derivative assets	84,406		12,674,978		142,343		12,901,727
Interest rate contracts	40,013		7,311,689		93,833		7,445,535
Foreign exchange contracts	3,909		5,258,511		13,714		5,276,134
Equity contracts	40,484		28,617		20,659		89,760
Commodity contracts	—		17		9,908		9,925
Credit derivatives	—		76,144		3,801		79,945
Other(8)	—		—		428		428
Trading loans(3)	—		13,820		—		13,820
Investment securities:
Available-for-sale debt securities	25,236,359		10,250,511		253,932		35,740,802
Japanese national government and Japanese government agency bonds	23,292,055		2,754,548		—		26,046,603
Japanese prefectural and municipal bonds	—		2,759,941		—		2,759,941
Foreign government and official institution bonds	1,944,304		978,438		—		2,922,742
Corporate bonds	—		1,056,191		1,970		1,058,161
Residential mortgage-backed securities	—		1,110,239		15		1,110,254
Asset-backed securities	—		1,247,377		182,938		1,430,315
Other debt securities	—		343,777		69,009		412,786
Equity securities	4,362,017		101,576		74,761		4,538,354
Marketable equity securities	4,362,017		101,576		—		4,463,593
Nonmarketable equity securities(4)	—		—		74,761		74,761
Other(5)	1,535,446		848,596		92,251		2,476,293
Total	¥	50,316,436	¥	36,635,896	¥	1,745,606	¥	88,697,938


At March 31, 2023	Level 1		Level 2		Level 3		Fair Value
	(in millions)
Liabilities
Trading account liabilities:
Trading securities sold, not yet purchased	¥	232,287	¥	2,620	¥	—	¥	234,907
Trading derivative liabilities	163,129		13,718,992		61,247		13,943,368
Interest rate contracts	85,641		8,566,043		45,204		8,696,888
Foreign exchange contracts	1,679		5,013,909		2,369		5,017,957
Equity contracts	75,809		48,953		3,731		128,493
Commodity contracts	—		—		9,817		9,817
Credit derivatives	—		90,087		62		90,149
Other(8)	—		—		64		64
Obligation to return securities received as collateral(6)	6,664,578		158,763		68,204		6,891,545
Other(7)	—		313,482		73,663		387,145
Total	¥	7,059,994	¥	14,193,857	¥	203,114	¥	21,456,965


At March 31, 2024	Level 1		Level 2		Level 3		Fair Value
	(in millions)
Assets
Trading account assets:
Trading securities(1)	¥	18,626,829	¥	13,457,903	¥	2,041,954	¥	34,126,686
Debt securities
Japanese national government and Japanese government agency bonds	6,278,228		395,745		—		6,673,973
Japanese prefectural and municipal bonds	—		91,683		—		91,683
Foreign government and official institution bonds	10,170,757		662,651		101		10,833,509
Corporate bonds	8,937		2,723,957		—		2,732,894
Residential mortgage-backed securities	—		5,422,286		—		5,422,286
Asset-backed securities	—		1,374,191		1,352,755		2,726,946
Other debt securities	—		2,599		536,846		539,445
Commercial paper	—		1,609,441		—		1,609,441
Equity securities(2)	2,168,907		1,175,350		152,252		3,496,509
Trading derivative assets	90,325		15,081,739		151,242		15,323,306
Interest rate contracts	14,143		9,382,147		110,013		9,506,303
Foreign exchange contracts	10,473		5,604,544		12,647		5,627,664
Equity contracts	65,709		48,606		8,647		122,962
Commodity contracts	—		391		18,282		18,673
Credit derivatives	—		46,047		1,148		47,195
Other(8)	—		4		505		509
Trading loans(3)	—		31,542		—		31,542
Investment securities:
Available-for-sale debt securities	23,569,981		7,620,772		204,619		31,395,372
Japanese national government and Japanese government agency bonds	21,336,860		1,830,540		—		23,167,400
Japanese prefectural and municipal bonds	—		1,045,991		—		1,045,991
Foreign government and official institution bonds	2,233,121		1,046,162		—		3,279,283
Corporate bonds	—		1,016,574		5,017		1,021,591
Residential mortgage-backed securities	—		1,229,510		15		1,229,525
Asset-backed securities	—		1,114,195		132,951		1,247,146
Other debt securities	—		337,800		66,636		404,436
Equity securities	5,401,388		70,823		86,137		5,558,348
Marketable equity securities	5,401,388		70,823		—		5,472,211
Nonmarketable equity securities(4)	—		—		86,137		86,137
Other(5)	1,175,125		1,224,351		139,117		2,538,593
Total	¥	48,863,648	¥	37,487,130	¥	2,623,069	¥	88,973,847


At March 31, 2024	Level 1		Level 2		Level 3		Fair Value
	(in millions)
Liabilities
Trading account liabilities:
Trading securities sold, not yet purchased	¥	103,705	¥	4,508	¥	—	¥	108,213
Trading derivative liabilities	117,567		16,269,035		92,336		16,478,938
Interest rate contracts	30,997		10,591,825		70,527		10,693,349
Foreign exchange contracts	954		5,542,872		2,449		5,546,275
Equity contracts	85,616		72,337		389		158,342
Commodity contracts	—		—		18,327		18,327
Credit derivatives	—		61,999		488		62,487
Other(8)	—		2		156		158
Obligation to return securities received as collateral(6)	6,955,747		195,622		71,399		7,222,768
Other(7)	—		193,599		66,452		260,051
Total	¥	7,177,019	¥	16,662,764	¥	230,187	¥	24,069,970

Notes:

(1)Includes securities measured under the fair value option.

(2)Excludes certain investments valued at net asset value of private equity funds, whose fair values were ¥225,972 million and ¥264,458 million at March 31, 2023 and 2024, respectively. The amounts of unfunded commitments related to these private equity funds were ¥172,562 million and ¥134,429 million at March 31, 2023 and 2024, respectively.

(3)Includes loans measured under the fair value option.

(4)Excludes certain investments valued at net asset value of real estate funds and private equity and other funds, whose fair values at March 31, 2023 were ¥29,308 million and ¥51,458 million, respectively, and those at March 31, 2024 were ¥37,207 million and ¥53,324 million, respectively. The amounts of unfunded commitments related to these real estate funds and private equity and other funds at March 31, 2023 were ¥1,305 million and nil, respectively, and those at March 31, 2024 were ¥869 million and ¥250 million, respectively.

(5)Mainly comprises securities received as collateral that may be sold or repledged under securities lending transactions.

(6)Included in Other liabilities.

(7)Mainly includes other short-term borrowings, long-term debt, and bifurcated embedded derivatives carried at fair value.

(8)Includes certain derivatives such as earthquake derivatives.

Reconciliation of Assets and Liabilities Measured at Fair Value on Recurring Basis Using Level 3 Inputs

Accordingly, the gains and losses in the tables below include changes in fair value due in part to observable inputs used in the valuation techniques.


	March 31, 2022		Total gains (losses) for the period																			March 31, 2023		Change in unrealized gains (losses) for assets and liabilities still held at March 31, 2023
			Included in earnings			Included in other comprehensive income		Purchases		Issues		Sales		Settlements		Transfers into Level 3			Transfers out of Level 3
	(in millions)
Assets
Trading account assets:
Trading securities(1)	¥	797,997	¥	50,044	(2)	¥	—	¥	387,100	¥	—	¥	(21,409)	¥	(30,468)	¥	—		¥	(945)		¥	1,182,319	¥	43,990	(2)
Debt securities
Foreign government and official institution bonds	1,711		16			—		5,718		—		(5,765)		(250)		—			(262)			1,168		(35)
Corporate bonds	683		—			—		—		—		—		—		—			(683)			—		—
Asset-backed securities	315,231		17,132			—		354,978		—		(15,636)		(2,794)		—			—			668,911		15,749
Other debt securities	313,166		21,297			—		8,128		—		—		(8,467)		—			—			334,124		20,646
Equity securities	167,206		11,599			—		18,276		—		(8)		(18,957)		—			—			178,116		7,630
Trading derivatives—net	71,089		(2,045)		(2)	1,138		612		(334)		—		(17,198)		55,211			(27,377)			81,096		45,862		(2)
Interest rate contracts—net	37,493		(27,947)			297		—		—		—		10,932		55,243		(5)	(27,389)		(5)	48,629		10,779
Foreign exchange contracts—net	7,463		8,210			86		—		—		—		(4,484)		(32)			102			11,345		7,877
Equity contracts—net	23,420		16,190			758		19		—		—		(23,369)		—			(90)			16,928		25,646
Commodity contracts—net	(45)		153			(3)		—		—		—		(14)		—			—			91		153
Credit derivatives—net	2,729		1,273			—		—		—		—		(263)		—			—			3,739		1,303
Other—net(8)	29		76			—		593		(334)		—		—		—			—			364		104
Investment securities:
Available-for-sale debt securities	212,936		(1,303)		(3)	16,357		301,283		—		—		(272,638)		1,405			(4,108)			253,932		2,094		(3)
Foreign government and official institution bonds	11,890		—			(925)		128		—		—		(11,093)		—			—			—		—
Corporate bonds	3,089		(164)			142		1,823		—		—		(67)		1,255			(4,108)			1,970		147
Residential mortgage-backed securities	15		—			—		—		—		—		—		—			—			15		—
Asset-backed securities	124,379		(1,174)			14,406		296,645		—		—		(251,318)		—			—			182,938		(823)
Other debt securities	73,563		35			2,734		2,687		—		—		(10,160)		150			—			69,009		2,770
Equity securities	55,883		712		(3)	345		18,963		—		(2,682)		(806)		3,411			(1,065)			74,761		161		(3)
Nonmarketable equity securities	55,883		712			345		18,963		—		(2,682)		(806)		3,411			(1,065)			74,761		161
Other	4,912		61		(7)	(21)		90,986		—		—		(5,612)		1,925			—			92,251		61		(7)
Assets held for sale	76,918		992		(9)	9,263		1,620		—		(77,390)		(11,403)		—			—			—		—
Investment securities	65,262		(3,619)			7,156		297		—		(56,292)		(12,804)		—			—			—		—
Other	11,656		4,611			2,107		1,323		—		(21,098)		1,401		—			—			—		—
Total	¥	1,219,735	¥	48,461		¥	27,082	¥	800,564	¥	(334)	¥	(101,481)	¥	(338,125)	¥	61,952		¥	(33,495)		¥	1,684,359	¥	92,168
Liabilities
Obligation to return securities received as collateral	¥	—	¥	—		¥	—	¥	—	¥	73,595	¥	—	¥	(5,391)	¥	—		¥	—		¥	68,204	¥	—
Other	16,463		35,755		(4)	(3,879)		—		53,887		—		(36,792)		72,173		(6)	(192)			73,663		43,066		(4)
Total	¥	16,463	¥	35,755		¥	(3,879)	¥	—	¥	127,482	¥	—	¥	(42,183)	¥	72,173		¥	(192)		¥	141,867	¥	43,066


	March 31, 2023		Total gains (losses) for the period					Purchases		Issues		Sales		Settlements		Transfers into Level 3			Transfers out of Level 3			March 31, 2024		Change in unrealized gains (losses) for assets and liabilities still held at March 31, 2024
			Included in earnings			Included in other comprehensive income
	(in millions)
Assets
Trading account assets:
Trading securities(1)	¥	1,182,319	¥	213,607	(2)	¥	—	¥	728,692	¥	—	¥	(16,552)	¥	(66,257)	¥	145		¥	—		¥	2,041,954	¥	206,853	(2)
Debt securities
Foreign government and official institution bonds	1,168		123			—		7		—		(7)		(1,190)		—			—			101		—
Asset-backed securities	668,911		143,982			—		552,320		—		—		(12,458)		—			—			1,352,755		143,014
Other debt securities	334,124		61,722			—		141,000		—		—		—		—			—			536,846		61,722
Equity securities	178,116		7,780			—		35,365		—		(16,545)		(52,609)		145			—			152,252		2,117
Trading derivatives—net	81,096		1,979		(2)	1,383		423		(355)		—		(16,407)		49,297			(58,510)			58,906		1,549		(2)
Interest rate contracts—net	48,629		(9,448)			(1,240)		—		—		—		4,784		49,324		(5)	(52,563)		(5)	39,486		(8,541)
Foreign exchange contracts—net	11,345		2,429			922		—		—		—		(582)		98			(4,014)			10,198		3,309
Equity contracts—net	16,928		10,324			1,694		4		—		—		(20,415)		(125)			(152)			8,258		8,070
Commodity contracts—net	91		(128)			7		—		—		—		(15)		—			—			(45)		(128)
Credit derivatives—net	3,739		(1,119)			—		—		—		—		(179)		—			(1,781)			660		(1,087)
Other—net(8)	364		(79)			—		419		(355)		—		—		—			—			349		(74)
Investment securities:
Available-for-sale debt securities	253,932		1,403		(3)	20,914		208,844		—		—		(278,573)		26			(1,927)			204,619		12,786		(3)
Corporate bonds	1,970		(83)			150		2,978		—		—		(4)		26			(20)			5,017		69
Residential mortgage-backed securities	15		—			—		—		—		—		—		—			—			15		—
Asset-backed securities	182,938		1,597			14,325		205,611		—		—		(271,520)		—			—			132,951		6,360
Other debt securities	69,009		(111)			6,439		255		—		—		(7,049)		—			(1,907)			66,636		6,357
Equity securities	74,761		1,223		(3)	524		10,665		—		(2,200)		—		2,015			(851)			86,137		64		(3)
Nonmarketable equity securities	74,761		1,223			524		10,665		—		(2,200)		—		2,015			(851)			86,137		64
Other	92,251		(204)		(7)	186		49,009		—		—		(2,125)		—			—			139,117		(204)		(7)
Total	¥	1,684,359	¥	218,008		¥	23,007	¥	997,633	¥	(355)	¥	(18,752)	¥	(363,362)	¥	51,483		¥	(61,288)		¥	2,530,733	¥	221,048
Liabilities
Obligation to return securities received as collateral	¥	68,204	¥	—		¥	—	¥	—	¥	5,053	¥	—	¥	(1,858)	¥	—		¥	—		¥	71,399	¥	—
Other	73,663		(58,355)		(4)	(8,293)		—		61,123		—		(111,353)		(705)			(22,924)		(6)	66,452		(17,683)		(4)
Total	¥	141,867	¥	(58,355)		¥	(8,293)	¥	—	¥	66,176	¥	—	¥	(113,211)	¥	(705)		¥	(22,924)		¥	137,851	¥	(17,683)

Notes:

(1)Includes Trading securities measured under the fair value option.

(2)Included in Trading account losses—net and Foreign exchange gains (losses)—net.

(3)Included in Investment securities gains (losses)—net and Other comprehensive income—net.

(4)Included in Trading account losses—net and Other comprehensive income—net.

(5)Transfers into (out of) Level 3 for Interest rate contracts—net were mainly caused by changes in the impact of unobservable input to the entire fair value measurement. Unobservable input includes loss given default.

(6)Transfers into (out of) Level 3 for long-term debt in Other were mainly caused by the decrease (increase) in the observability of the key inputs to the valuation models and a corresponding increase (decrease) in the significance of the unobservable inputs.

(7)Included in Other non-interest income.

(8)Includes certain derivatives such as earthquake derivatives.

(9)Included in Investment securities gains (losses)—net, Trading account losses—net and Fees and commissions income.

Quantitative Information about Level 3 Fair Value Measurements

The following tables present information on the valuation techniques, significant unobservable inputs and their ranges for each major category of assets and liabilities measured at fair value on a recurring basis and classified in Level 3:


At March 31, 2023	Fair value(1)		Valuation technique	Significant unobservable inputs	Range	Weighted average(2)
	(in millions)
Assets
Trading securities and Investment securities :
Residential mortgage-backed securities and Asset-backed securities	¥	101,014	Discounted cash flow	Recovery rate	100.0%	100.0%
	591,515		Internal model(4)	Asset correlations	3.0%	3.0%
				Discount factor	2.0%～2.3%	2.0%
				Prepayment rate	13.1%	13.1%
				Probability of default	0.0%~99.0%	—	(3)
				Recovery rate	72.2%	72.2%
Other debt securities	385,046		Discounted cash flow	Liquidity premium	0.9%~3.2%	2.8%

At March 31, 2023

Fair value(1)

Valuation technique

Significant unobservable inputs

Range

Median(2)

(in millions)

Trading derivatives—net:

Interest rate contracts—net

48,209

Option model

Correlation between interest rates

30.0%~60.6%

44.4%

Correlation between interest rate and foreign exchange rate

2.0%~60.0%

36.6%

Volatility

70.3%~106.7%

80.1%

Foreign exchange contracts—net

11,345

Option model

Correlation between interest rates

30.0%~70.0%

50.6%

Correlation between interest rate and foreign exchange rate

14.3%~60.0%

36.8%

Correlation between foreign exchange rates

50.0%~70.6%

66.4%

Volatility

10.6%~23.0%

15.6%

Equity contracts—net

3,316

Option model

Correlation between foreign exchange rate and equity

(58.4)%~55.0%

15.0%

Correlation between equities

5.6%~95.0%

54.1%

Volatility

28.0%~37.0%

32.2%

13,612

Discounted cash flow

Term of litigation

0.1 years~1.0 year

0.5 years

At March 31, 2024

Fair value(1)

Valuation technique

Significant unobservable inputs

Range

Weighted

average(2)

(in millions)

Assets

Trading securities and Investment securities:

Asset-backed securities

1,248,241

Internal model(4)

Asset correlations

3.0%

Discount factor

1.4%~1.6%

1.4%

Prepayment rate

17.7%

Probability of default

0.0%~93.0%

—

(3)

Recovery rate

55.0%

Other debt securities

587,272

Discounted cash flow

Liquidity premium

0.9%~3.2%

2.8%

At March 31, 2024

Fair value(1)

Valuation technique

Significant unobservable inputs

Range

Median(2)

(in millions)

Trading derivatives—net:

Interest rate contracts—net

41,687

Option model

Correlation between interest rates

30.0%~60.7%

44.6%

Correlation between interest rate and foreign exchange rate

(2.0)%~60.0%

35.0%

Volatility

61.2%~80.6%

75.6%

Foreign exchange contracts—net

9,800

Option model

Correlation between interest rates

30.0%~70.0%

48.2%

Correlation between interest rate and foreign exchange rate

17.6%~60.0%

36.3%

Correlation between foreign exchange rates

50.0%~70.6%

66.4%

Volatility

9.9%~21.3%

14.1%

Equity contracts—net

4,414

Option model

Correlation between foreign exchange rate and equity

0.0%~30.0%

20.0%

Correlation between equities

5.0%~76.0%

57.5%

Volatility

25.0%~37.0%

33.9%

Notes:

(1)The fair value as of March 31, 2023 and 2024 excludes the fair value of investments valued using vendor prices.

(2)Weighted average is calculated by weighing each input by the relative fair value of the respective financial instruments for investment securities. Median is used for derivative instruments.

(3)See “Probability of default” in “Changes in and range of unobservable inputs.”

(4)For further detail of Internal model, refer to the last paragraph of “Trading Account Assets and Liabilities—Trading Account Securities.”

Carrying Value of Assets Measured at Fair Value on Nonrecurring Basis by Level

The following table presents the carrying value of assets measured at fair value on a nonrecurring basis by level within the fair value hierarchy as of March 31, 2023 and 2024:


	2023								2024
	Level 1		Level 2		Level 3		Total carrying value		Level 1		Level 2		Level 3		Total carrying value
	(in millions)
Assets
Investment securities(1)(2)	¥	—	¥	13,366	¥	13,271	¥	26,637	¥	—	¥	9,460	¥	45,175	¥	54,635
Loans	1,917		3,388		611,055		616,360		2,271		5,201		626,372		633,844
Loans held for sale	—		—		439,361		439,361		—		—		472,711		472,711
Collateral dependent loans	1,917		3,388		171,694		176,999		2,271		5,201		153,661		161,133
Premises and equipment	—		—		11,835		11,835		—		—		6,950		6,950
Intangible assets	—		—		309		309		—		—		5,174		5,174
Goodwill	—		—		184,364		184,364		—		—		—		—
Other assets	178,592		—		29,003		207,595		—		32,481		18,173		50,654
Investments in equity method investees(1)	178,592		—		12,472		191,064		—		27,801		1,702		29,503
Other	—		—		16,531		16,531		—		4,680		16,471		21,151
Total	¥	180,509	¥	16,754	¥	849,837	¥	1,047,100	¥	2,271	¥	47,142	¥	701,844	¥	751,257

Notes:

(1)Excludes certain investments valued at net asset value of ¥33,595 million and ¥18,037 million at March 31, 2023 and 2024, respectively. The unfunded commitments related to these investments are ¥23,029 million and ¥24,208 million at March 31, 2023 and 2024, respectively. These investments are in private equity funds.

(2)Includes certain nonmarketable equity securities that are measured at fair value on a nonrecurring basis, including impairment and observable price change for nonmarketable equity securities measured under the measurement alternative.

Losses (Gains) Recorded as a Result of Changes in Fair Value Measured on a Nonrecurring Basis

The following table presents losses recorded as a result of changes in the fair value of assets measured at fair value on a nonrecurring basis for the fiscal years ended March 31, 2023 and 2024:


	2023		2024
	(in millions)
Investment securities	¥	3,580	¥	12,628
Loans	73,282		67,955
Loans held for sale	32,146		55,064
Collateral dependent loans	41,136		12,891
Premises and equipment	5,293		2,925
Intangible assets	3,650		14,929
Goodwill	33,553		—
Other assets	74,470		40,867
Investments in equity method investees	58,061		19,978
Other	16,409		20,889
Assets held for sale	282,540		—
Loans held for sale	282,540		—
Total	¥	476,368	¥	139,304

Gains (Losses) Related to Instruments for which Fair Value Option was Elected

The following table presents the gains or losses recorded for the fiscal years ended March 31, 2022, 2023 and 2024 related to the eligible instruments for which the MUFG Group elected the fair value option:


	2022						2023						2024
	Trading account profits (losses)		Foreign exchange gains (losses)		Total changes in fair value		Trading account profits (losses)		Foreign exchange gains (losses)		Total changes in fair value		Trading account profits (losses)		Foreign exchange gains (losses)		Total changes in fair value
	(in millions)
Financial assets:
Trading account securities	¥	(984,605)	¥	1,752,995	¥	768,390	¥	(1,180,311)	¥	1,369,071	¥	188,760	¥	(173,290)	¥	2,176,389	¥	2,003,099
Total	¥	(984,605)	¥	1,752,995	¥	768,390	¥	(1,180,311)	¥	1,369,071	¥	188,760	¥	(173,290)	¥	2,176,389	¥	2,003,099
Financial liabilities:
Other short-term borrowings(1)	¥	5,552	¥	—	¥	5,552	¥	(3,626)	¥	—	¥	(3,626)	¥	3,690	¥	—	¥	3,690
Long-term debt(1)	50,082		—		50,082		40,944		—		40,944		(20,426)		—		(20,426)
Total	¥	55,634	¥	—	¥	55,634	¥	37,318	¥	—	¥	37,318	¥	(16,736)	¥	—	¥	(16,736)

Note:

(1)Changes in the value attributable to the instrument-specific credit risk related to those financial liabilities were not material.

Differences between Aggregate Fair Value and Aggregate Remaining Contractual Principal Balance Outstanding

The following table presents the differences between the aggregate fair value and the aggregate remaining contractual principal balance outstanding as of March 31, 2023 and 2024 for long-term debt instruments for which the fair value option has been elected:


	2023						2024
	Remaining aggregate contractual amounts outstanding		Fair value		Fair value over (under) remaining aggregate contractual amounts outstanding		Remaining aggregate contractual amounts outstanding		Fair value		Fair value over (under) remaining aggregate contractual amounts outstanding
	(in millions)
Financial liabilities:
Long-term debt	¥	501,982	¥	431,338	¥	(70,644)	¥	246,153	¥	234,909	¥	(11,244)
Total	¥	501,982	¥	431,338	¥	(70,644)	¥	246,153	¥	234,909	¥	(11,244)

Summary of Carrying Amounts and Estimated Fair Values of Financial Instruments Not Carried at Fair Value on a Recurring Basis on Consolidated Balance Sheets by Level

The following is a summary of carrying amounts and estimated fair values by level within the fair value hierarchy of financial instruments which are not carried at fair value on a recurring basis in the accompanying consolidated balance sheets as of March 31, 2023 and 2024:


	Carrying amount		Estimated fair value
At March 31, 2023			Total		Level 1		Level 2		Level 3
	(in billions)
Financial assets:
Cash and due from banks	¥	60,051	¥	60,051	¥	60,051	¥	—	¥	—
Interest-earning deposits in other banks	53,990		53,990		—		53,990		—
Call loans and funds sold	1,802		1,802		—		1,802		—
Receivables under resale agreements	14,059		14,059		—		14,059		—
Receivables under securities borrowing transactions	4,556		4,556		—		4,556		—
Investment securities	21,520		21,386		13,527		5,354		2,505
Loans, net of allowance for credit losses(1)	118,679		118,933		2		263		118,668
Other financial assets(2)	10,108		10,108		—		10,108		—
Financial liabilities:
Deposits
Non-interest-bearing	¥	37,804	¥	37,804	¥	—	¥	37,804	¥	—
Interest-bearing	197,500		197,573		—		197,573		—
Total deposits	235,304		235,377		—		235,377		—
Call money and funds purchased	3,438		3,438		—		3,438		—
Payables under repurchase agreements	40,132		40,132		—		40,132		—
Payables under securities lending transactions	1,138		1,138		—		1,138		—
Due to trust account and other short-term borrowings	14,260		14,260		—		14,260		—
Long-term debt	38,704		37,928		—		37,928		—
Other financial liabilities	9,595		9,595		—		9,595		—


	Carrying amount		Estimated fair value
At March 31, 2024			Total		Level 1		Level 2		Level 3
	(in billions)
Financial assets:
Cash and due from banks	¥	4,392	¥	4,392	¥	4,392	¥	—	¥	—
Interest-earning deposits in other banks	105,632		105,632		—		105,632		—
Call loans and funds sold	1,738		1,738		—		1,738		—
Receivables under resale agreements	18,495		18,495		—		18,495		—
Receivables under securities borrowing transactions	5,001		5,001		—		5,001		—
Investment securities	24,844		24,558		14,522		7,457		2,579
Loans, net of allowance for credit losses(1)	126,572		126,746		2		295		126,449
Other financial assets(2)	11,787		11,787		—		11,787		—
Financial liabilities:
Deposits
Non-interest-bearing	¥	38,787	¥	38,787	¥	—	¥	38,787	¥	—
Interest-bearing	207,659		207,808		—		207,808		—
Total deposits	246,446		246,595		—		246,595		—
Call money and funds purchased	5,094		5,094		—		5,094		—
Payables under repurchase agreements	35,711		35,711		—		35,711		—
Payables under securities lending transactions	1,017		1,017		—		1,017		—
Due to trust account and other short-term borrowings	15,743		15,743		—		15,743		—
Long-term debt	39,743		39,010		—		39,010		—
Other financial liabilities	9,473		9,473		—		9,473		—

Notes:

(1)Includes loans held for sale and collateral dependent loans measured at fair value on a nonrecurring basis. Refer to “Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis” for the details of the level classification.

(2)Excludes investments in equity method investees of ¥3,482 billion and ¥4,113 billion at March 31, 2023 and 2024, respectively.