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 July 2015

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):

 

 

 

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: July 31, 2015

 

Mitsubishi UFJ Financial Group, Inc.
By:  

/s/ Yasuo Matsumoto

Name:   Yasuo Matsumoto
Title:   Chief Manager, Documentation &
Corporate Secretary Department,
  Corporate Administration Division

LOGO

Consolidated Summary Report

<under Japanese GAAP>

for the three months ended June 30, 2015

July 31, 2015

 

Company name:

    Mitsubishi UFJ Financial Group, Inc.    Stock exchange listings:    Tokyo, Nagoya, New York

Code number:

    8306    URL    http://www.mufg.jp/   

Representative:

    Nobuyuki Hirano, President & Group CEO   

For inquiry:

    Kazutaka Yoneda, General Manager - Financial Planning Division / Financial Accounting Office
   TEL (03) 3240-3110      

Quarterly securities report issuing date:

    August 13, 2015    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 Three Months ended June 30, 2015

(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		  
Three months ended    million yen      %     million yen      %     million yen      %  

June 30, 2015

      1,559,954         19.8       485,035         22.8       277,761         15.5  

June 30, 2014

      1,301,827         (1.2 )     394,944         (6.1 )     240,491         (5.8 )

 

(*) Comprehensive income    June 30, 2015: 26,324 million yen, (95.1)%;     June 30, 2014: 541,208 million yen, 103.8%

 

     Basic earnings
per share		      Diluted earnings
per share		  
Three months ended    yen      yen  

June 30, 2015

      19.86        19.74  

June 30, 2014

      16.98        16.89  

(2) Financial Conditions

 

     Total Assets      Total Net Assets      Equity-to-asset ratio (*)  
As of    million yen      million yen      %  

June 30, 2015

      284,991,529        17,079,899        5.3  

March 31, 2015

      286,149,768        17,287,533        5.4  

(Reference) Shareholders’ equity as of       June 30, 2015: 15,117,802 million yen;       March 31, 2015: 15,317,940 million yen

 

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

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

2. Dividends on Common Stock

 

     Dividends per Share  
     1st quarter-end      2nd quarter-end      3rd quarter-end      Fiscal year-end      Total  
Fiscal year    yen      yen      yen      yen      yen  

ended March 31, 2015

      —        9.00        —         9.00         18.00   

ending March 31, 2016

      —        ——           ——         ——           ——     

ending March 31, 2016 (Forecast)

      ——         9.00        —         9.00         18.00   

 

(*) 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, 2016 (Consolidated)

MUFG has the target of 950.0 billion yen of profits attributable to owners of parent for the fiscal year ending March 31, 2016. (There is no change to our earnings target released on May 15, 2015.)

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.

LOGO Notes

 

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

 

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

 

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

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

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

(C)  Changes in accounting estimates: No

(D)  Restatements: No

 

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

 

(A)  Total stocks outstanding including treasury stocks:    June 30, 2015    14,168,853,820 shares   
   March 31, 2015    14,168,853,820 shares   
(B)  Treasury stocks:    June 30, 2015    261,320,276 shares   
   March 31, 2015    151,014,803 shares   
(C)  Average outstanding stocks:    Three months ended June 30, 2015    13,986,676,532 shares   
   Three months ended June 30, 2014      14,162,158,915 shares   

*Disclosure regarding the execution of the quarterly review process

This “Consolidated Summary Report” (Quarterly “Tanshin”) is outside the scope of the external auditor’s quarterly review procedure which is required by “Financial Instruments and Exchange Act”. Therefore, the quarterly review process has not been completed as of this disclosure in the “Consolidated Summary Report”.

*Notes for using forecasted information etc.

 

1. 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.

 

2. 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

    2

(1) Consolidated Balance Sheets

    2

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

    4

(3) Notes on Going-Concern Assumption

    6

(4) Notes for Material Changes in Shareholders’ Equity

    6

 

Supplemental Information:

“Selected Financial Information under Japanese GAAP for the Three Months Ended June 30, 2015”

 

1

Mitsubishi UFJ Financial Group, Inc.

 

1. Consolidated Financial Statements

(1) Consolidated Balance Sheets

 

(in millions of yen)    As of
March 31, 2015		     As of
June 30, 2015		  

Assets:

     

Cash and due from banks

      40,488,318        43,069,788   

Call loans and bills bought

      604,625        527,850   

Receivables under resale agreements

      7,342,335        6,961,798   

Receivables under securities borrowing transactions

      4,633,544        6,493,552   

Monetary claims bought

      4,570,712        4,437,024   

Trading assets

      20,810,617        19,515,674   

Money held in trust

      700,218        770,446   

Securities

      73,538,191        66,565,549   

Loans and bills discounted

      109,368,340        111,153,758   

Foreign exchanges

      2,187,311        1,888,513   

Other assets

      10,119,936        11,601,372   

Tangible fixed assets

      1,352,727        1,354,429   

Intangible fixed assets

      1,297,277        1,284,826   

Net defined benefit assets

      504,761        540,722   

Deferred tax assets

      114,919        96,223   

Customers’ liabilities for acceptances and guarantees

      9,511,714        9,688,796   

Allowance for credit losses

      (995,784 )      (958,799 ) 
  

 

 

    

 

 

  

Total assets

      286,149,768        284,991,529   
  

 

 

    

 

 

  

Liabilities:

     

Deposits

      153,357,410        155,405,520   

Negotiable certificates of deposit

      16,073,850        15,184,605   

Call money and bills sold

      3,600,104        3,233,660   

Payables under repurchase agreements

      21,899,506        19,420,587   

Payables under securities lending transactions

      8,205,350        7,426,473   

Commercial papers

      2,179,634        1,894,284   

Trading liabilities

      15,521,917        15,387,992   

Borrowed money

      13,866,196        13,468,551   

Foreign exchanges

      1,496,476        2,661,184   

Short-term bonds payable

      789,512        816,204   

Bonds payable

      8,141,713        8,456,955   

Due to trust accounts

      3,183,295        3,574,889   

Other liabilities

      9,530,371        9,971,852   

Reserve for bonuses

      90,360        35,918   

Reserve for bonuses to directors

      454        51   

Net defined benefit liabilities

      62,121        61,980   

Reserve for retirement benefits to directors

      1,086        850   

Reserve for loyalty award credits

      15,375        15,966   

Reserve for contingent losses

      204,790        183,473   

Reserves under special laws

      3,771        3,955   

Deferred tax liabilities

      988,550        879,285   

Deferred tax liabilities for land revaluation

      138,669        138,589   

Acceptances and guarantees

      9,511,714        9,688,796   
  

 

 

    

 

 

  

Total liabilities

      268,862,234        267,911,630   
  

 

 

    

 

 

  

 

2

Mitsubishi UFJ Financial Group, Inc.

 

 

(in millions of yen)    As of
March 31, 2015		     As of
June 30, 2015		  

Net assets:

     

Capital stock

      2,141,513        2,141,513   

Capital surplus

      1,428,403        1,427,311   

Retained earnings

      7,860,410        8,036,406   

Treasury stock

      (101,661 )      (201,053 ) 
  

 

 

    

 

 

  

Total shareholders’ equity

      11,328,666        11,404,176   
  

 

 

    

 

 

  

Net unrealized gains (losses) on other securities

      2,835,091        2,621,457   

Net deferred gains (losses) on hedging instruments

      83,194        59,696   

Land revaluation excess

      172,350        172,329   

Foreign currency translation adjustments

      951,547        910,669   

Remeasurements of defined benefit plans

      (52,909 )      (50,527 ) 
  

 

 

    

 

 

  

Total accumulated other comprehensive income

      3,989,274        3,713,625   
  

 

 

    

 

 

  

Subscription rights to shares

      8,271        8,121   

Non-controlling interests

      1,961,322        1,953,976   
  

 

 

    

 

 

  

Total net assets

      17,287,533        17,079,899   
  

 

 

    

 

 

  

Total liabilities and net assets

      286,149,768        284,991,529   
  

 

 

    

 

 

  

 

3

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 three months
ended
June 30, 2014		     For the three months
ended
June 30, 2015		  

Ordinary income

      1,301,827        1,559,954   

Interest income

      633,171        705,685   

Interest on loans and bills discounted

      419,634        460,283   

Interest and dividends on securities

      131,928        161,831   

Trust fees

      24,844        27,134   

Fees and commissions

      331,310        357,567   

Trading income

      59,513        83,506   

Other business income

      143,362        210,820   

Other ordinary income

      109,624        175,239   

Ordinary expenses

      906,882        1,074,919   

Interest expenses

      142,470        160,338   

Interest on deposits

      65,749        77,166   

Fees and commissions

      46,746        51,586   

Other business expenses

      35,536        102,784   

General and administrative expenses

      635,681        656,903   

Other ordinary expenses

      46,447        103,305   
  

 

 

    

 

 

  

Ordinary profits

      394,944        485,035   
  

 

 

    

 

 

  

Extraordinary gains

      221        211   

Gains on disposition of fixed assets

      221        211   

Extraordinary losses

      34,209        37,163   

Losses on disposition of fixed assets

      575        912   

Losses on impairment of fixed assets

      142        54   

Provision for reserve for contingent liabilities from financial instruments transactions

      199        183   

Losses on change in equity

      33,291        36,013   
  

 

 

    

 

 

  

Income before income taxes and others

      360,957        448,084   
  

 

 

    

 

 

  

Income taxes—current

      81,210        107,655   

Income taxes—deferred

      16,496        28,060   
  

 

 

    

 

 

  

Total taxes

      97,707        135,716   
  

 

 

    

 

 

  

Profits

      263,250        312,367   
  

 

 

    

 

 

  

Profits attributable to non-controlling interests

      22,759        34,605   
  

 

 

    

 

 

  

Profits attributable to owners of parent

      240,491        277,761   
  

 

 

    

 

 

  

 

4

Mitsubishi UFJ Financial Group, Inc.

 

Consolidated Statements of Comprehensive Income

 

(in millions of yen)    For the three months
ended
June 30, 2014		     For the three months
ended
June 30, 2015		  

Profits

      263,250        312,367   

Other comprehensive income

     

Net unrealized gains (losses) on other securities

      317,124        (221,005 ) 

Net deferred gains (losses) on hedging instruments

      38,081        (26,663 ) 

Land revaluation excess

      —          (1 ) 

Foreign currency translation adjustments

      (61,769 )      (32,566 ) 

Remeasurements of defined benefit plans

      4,911        1,915   

Share of other comprehensive income of associates accounted for using equity method

      (20,388 )      (7,721 ) 
  

 

 

    

 

 

  

Total other comprehensive income

      277,958        (286,043 ) 
  

 

 

    

 

 

  

Comprehensive income

      541,208        26,324   
  

 

 

    

 

 

  

(Comprehensive income attributable to)

     

Comprehensive income attributable to owners of parent

      520,894        (9,038 ) 

Comprehensive income attributable to non-controlling interests

      20,314        35,362   

 

5

Mitsubishi UFJ Financial Group, Inc.

 

 

(3) Notes on Going-Concern Assumption

Not applicable

 

(4) Notes for Material Changes in Shareholders’ Equity

Not applicable

 

6

 

Selected Financial Information

under Japanese GAAP

For the Three Months Ended June 30, 2015

 

 

 

 

 

 

 

 

 

 

Mitsubishi UFJ Financial Group, Inc.

       LOGO         

Mitsubishi UFJ Financial Group, Inc.

[Contents]

 

1. Financial Results

   [ MUFG Consolidated ]*1[ BTMU and MUTB Combined ]*2*3*4       ——           1   
  [ BTMU Non-consolidated ][ MUTB Non-consolidated ]     

2. Non Performing Loans Based on the Financial Reconstruction Law

   [ BTMU and MUTB Combined including Trust Account ]       ——           5   
  [ BTMU Non-consolidated ][ MUTB Non-consolidated ]     
  [ MUTB Non-consolidated : Trust Account ]     

3. Securities

   [ MUFG Consolidated ]       ——           6   
  [ BTMU Non-consolidated ][ MUTB Non-consolidated ]     

4. ROE

   [ MUFG Consolidated ]       ——           9   

5. Average Interest Rate Spread

   [ BTMU and MUTB Combined ]       ——           10   
  [ BTMU Non-consolidated ][ MUTB Non-consolidated ]     

6. Loans and Deposits

   [ BTMU and MUTB Combined ]       ——           11   
  [ BTMU Non-consolidated ][ MUTB Non-consolidated ]     

7. Statements of Trust Assets and Liabilities

   [ MUTB Non-consolidated ]       ——           12   

(Reference)

       

Exposure to “Securitized Products and Related Investments”

       ——           13   

 

(*1) “MUFG” means Mitsubishi UFJ Financial Group, Inc.
(*2) “BTMU” means The Bank of Tokyo-Mitsubishi UFJ, Ltd.
(*3) “MUTB” means Mitsubishi UFJ Trust and Banking Corporation.
(*4) “BTMU and MUTB Combined” means simple sum of “BTMU” and “MUTB” without consolidation processes.

Mitsubishi UFJ Financial Group, Inc.

1. Financial Results

MUFG Consolidated

 

                                            
     (in billions of yen)  
     For the three months ended     Increase
(Decrease)
(A) -  (B)		  
     June 30, 2015
(A)		     June 30, 2014
(B)		    

Gross profits

      1,070.0                967.4                102.5   

Gross profits before credit costs for trust accounts

      1,070.0        967.4        102.5   

Net interest income

      545.3        490.7        54.6   

Trust fees

      27.1        24.8        2.2   

Credit costs for trust accounts (1)

      —          —          —     

Net fees and commissions

      305.9        284.5        21.4   

Net trading profits

      83.5        59.5        23.9   

Net other business profits

      108.0        107.8        0.2   

Net gains (losses) on debt securities

      79.3        85.4        (6.0 ) 

General and administrative expenses

              653.1        628.2        24.9   

Amortization of goodwill

      4.4        3.8        0.6   

Net business profits before credit costs for trust accounts, provision for general allowance for credit losses and amortization of goodwill

      421.3        343.0        78.2   

Net business profits before credit costs for trust accounts and provision for general allowance for credit losses

      416.8        339.2        77.5   

Provision for general allowance for credit losses (2)

      —          —          —     

Net business profits*

      416.8        339.2        77.5   

Net non-recurring gains (losses)

      68.1        55.6        12.4   

Credit costs (3)

      (75.0 )      (28.2 )      (46.8 ) 

Losses on loan write-offs

      (36.6 )      (28.1 )      (8.5 ) 

Provision for specific allowance for credit losses

      —          —          —     

Other credit costs

      (38.4 )      (0.0 )      (38.3 ) 

Reversal of allowance for credit losses (4)

      21.6        5.8        15.8   

Reversal of reserve for contingent losses included in credit costs (5)

      —          0.4        (0.4 ) 

Gains on loans written-off (6)

      13.7        14.4        (0.7 ) 

Net gains (losses) on equity securities

      31.6        17.9        13.7   

Gains on sales of equity securities

      41.7        22.5        19.2   

Losses on sales of equity securities

      (3.8 )      (4.0 )      0.2   

Losses on write-down of equity securities

      (6.2 )      (0.4 )      (5.7 ) 

Profits (losses) from investments in affiliates

      85.7        44.8        40.8   

Other non-recurring gains (losses)

      (9.4 )      0.3        (9.8 ) 
  

 

 

    

 

 

    

 

 

  

Ordinary profits

      485.0        394.9        90.0   
  

 

 

    

 

 

    

 

 

  

Net extraordinary gains (losses)

      (36.9 )      (33.9 )      (2.9 ) 

Net gains (losses) on change in equity

      (36.0 )      (33.2 )      (2.7 ) 

Income before income taxes and others

      448.0        360.9        87.1   

Income taxes-current

      107.6        81.2        26.4   

Income taxes-deferred

      28.0        16.4        11.5   

Total taxes

      135.7        97.7        38.0   

Profits

      312.3        263.2        49.1   

Profits attributable to non-controlling interests

      34.6        22.7        11.8   
  

 

 

    

 

 

    

 

 

  

Profits attributable to owners of parent

      277.7        240.4        37.2   
  

 

 

    

 

 

    

 

 

  

Note:

*   Net business profits = Banking subsidiaries’ net business 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)

      (39.6 )      (7.4 )      (32.2 ) 

 

1

Mitsubishi UFJ Financial Group, Inc.

BTMU and MUTB Combined

 

     (in billions of yen)  
     For the three months ended    

 

Increase
(Decrease)
(A) - (B)

  
     June 30, 2015
(A)		     June 30, 2014
(B)		    

Gross profits

      658.0        598.7        59.3   

Gross profits before credit costs for trust accounts

      658.0        598.7        59.3   

Net interest income

      393.3        328.5        64.8   

Trust fees

      20.5        18.8        1.6   

Credit costs for trust accounts (1)

      —          —          —     

Net fees and commissions

      130.1        129.2        0.8   

Net trading profits

      19.7        23.4        (3.7 ) 

Net other business profits

      94.2        98.5        (4.3 ) 

Net gains (losses) on debt securities

      76.3        84.7        (8.3 ) 

General and administrative expenses

      332.5        346.0        (13.5 ) 

Net business profits before credit costs for trust accounts and provision for general allowance for credit losses

      325.5        252.6        72.8   

Provision for general allowance for credit losses (2)

      —          —          —     

Net business profits

      325.5        252.6        72.8   

Net non-recurring gains (losses)

      10.8        24.3        (13.4 ) 

Credit costs (3)

      (54.0 )      (10.0 )      (43.9 ) 

Losses on loan write-offs

      (15.8 )      (9.9 )      (5.9 ) 

Provision for specific allowance for credit losses

      —          —          —     

Other credit costs

      (38.1 )      (0.0 )      (38.0 ) 

Reversal of allowance for credit losses (4)

      37.2        25.3        11.9   

Reversal of reserve for contingent losses included in credit costs (5)

      0.5        2.1        (1.6 ) 

Gains on loans written-off (6)

      3.1        3.0        0.1   

Net gains (losses) on equity securities

      26.2        10.9        15.2   

Gains on sales of equity securities

      36.1        15.2        20.8   

Losses on sales of equity securities

      (3.6 )      (3.9 )      0.2   

Losses on write-down of equity securities

      (6.2 )      (0.3 )      (5.8 ) 

Other non-recurring gains (losses)

      (2.3 )      (7.1 )      4.8   
  

 

 

    

 

 

    

 

 

  

Ordinary profits

      336.3        276.9        59.3   
  

 

 

    

 

 

    

 

 

  

Net extraordinary gains (losses)

      17.7        (0.4 )      18.1   

Gains on sales of equity securities of subsidiaries

      18.3        —          18.3   

Income before income taxes

      354.1        276.5        77.5   

Income taxes-current

      95.5        90.6        4.9   

Income taxes-deferred

      10.8        (14.1 )      24.9   

Total taxes

      106.3        76.5        29.8   
  

 

 

    

 

 

    

 

 

  

Net income

      247.7        199.9        47.7   
  

 

 

    

 

 

    

 

 

  

(Reference)

       

Total credit costs (1)+(2)+(3)+(4)+(5)+(6)

      (13.0 )      20.5        (33.6 ) 

 

2

Mitsubishi UFJ Financial Group, Inc.

BTMU Non-consolidated

 

     (in billions of yen)  
     For the three months ended     Increase
(Decrease)
(A) - (B)		  
     June 30, 2015
(A)		     June 30, 2014
(B)		    

Gross profits

      564.7        513.2        51.5   

Net interest income

      336.3        287.5        48.8   

Net fees and commissions

      110.3        110.0        0.2   

Net trading profits

      18.7        13.2        5.5   

Net other business profits

      99.3        102.4        (3.1 ) 

Net gains (losses) on debt securities

      80.2        80.5        (0.2 ) 

General and administrative expenses

      287.5        300.6        (13.1 ) 

Amortization of goodwill

      0.0        0.0        0.0   

Net business profits before provision for general allowance for credit losses and amortization of goodwill

      277.3        212.7        64.6   

Net business profits before provision for general allowance for credit losses

      277.2        212.6        64.6   

Provision for general allowance for credit losses (1)

      —          —          —     

Net business profits

      277.2        212.6        64.6   

Net non-recurring gains (losses)

      11.8        17.1        (5.3 ) 

Credit costs (2)

      (53.8 )      (9.9 )      (43.8 ) 

Losses on loan write-offs

      (15.7 )      (9.9 )      (5.7 ) 

Provision for specific allowance for credit losses

      —          —          —     

Other credit costs

      (38.1 )      (0.0 )      (38.1 ) 

Reversal of allowance for credit losses (3)

      36.9        23.0        13.9   

Reversal of reserve for contingent losses included in credit costs (4)

      0.3        2.1        (1.8 ) 

Gains on loans written-off (5)

      3.1        2.9        0.2   

Net gains (losses) on equity securities

      28.3        5.6        22.6   

Gains on sales of equity securities

      35.3        9.8        25.4   

Losses on sales of equity securities

      (1.5 )      (3.9 )      2.3   

Losses on write-down of equity securities

      (5.4 )      (0.2 )      (5.1 ) 

Other non-recurring gains (losses)

      (3.0 )      (6.6 )      3.6   
  

 

 

    

 

 

    

 

 

  

Ordinary profits

      289.1        229.8        59.3   
  

 

 

    

 

 

    

 

 

  

Net extraordinary gains (losses)

      17.8        (0.4 )      18.3   

Gains on sales of equity securities of subsidiaries

      18.3        —          18.3   

Income before income taxes

      307.0        229.3        77.6   

Income taxes-current

      83.7        76.5        7.1   

Income taxes-deferred

      9.5        (13.9 )      23.5   

Total taxes

      93.3        62.6        30.6   
  

 

 

    

 

 

    

 

 

  

Net income

      213.7        166.7        46.9   
  

 

 

    

 

 

    

 

 

  

(Reference)

       

Total credit costs (1)+(2)+(3)+(4)+(5)

      (13.3 )      18.1        (31.5 ) 

 

3

Mitsubishi UFJ Financial Group, Inc.

MUTB Non-consolidated

 

     (in billions of yen)  
     For the three months ended     Increase
(Decrease)
(A) - (B)		  
     June 30, 2015 (A)     June 30, 2014 (B)    

Gross profits

      93.2        85.4        7.8   

Gross profits before credit costs for trust accounts

      93.2        85.4        7.8   

Trust fees

      20.5        18.8        1.6   

Credit costs for trust accounts (1)

      —          —          —     

Net interest income

      56.9        41.0        15.9   

Net fees and commissions

      19.8        19.2        0.6   

Net trading profits

      0.9        10.1        (9.2 ) 

Net other business profits

      (5.0 )      (3.8 )      (1.1 ) 

Net gains (losses) on debt securities

      (3.8 )      4.2        (8.0 ) 

General and administrative expenses

      45.0        45.4        (0.3 ) 

Net business profits before credit costs for trust accounts and provision for general allowance for credit losses

      48.2        40.0        8.2   

Provision for general allowance for credit losses (2)

      —          —          —     

Net business profits

      48.2        40.0        8.2   

Net non-recurring gains (losses)

      (1.0 )      7.1        (8.1 ) 

Credit costs (3)

      (0.1 )      (0.0 )      (0.1 ) 

Losses on loan write-offs

      (0.1 )      (0.0 )      (0.1 ) 

Provision for specific allowance for credit losses

      —          —          —     

Other credit costs

      —          (0.0 )      0.0   

Reversal of allowance for credit losses (4)

      0.3        2.3        (2.0 ) 

Reversal of reserve for contingent losses included in credit costs (5)

      0.1        —          0.1   

Gains on loans written-off (6)

      0.0        0.1        (0.0 ) 

Net gains (losses) on equity securities

      (2.1 )      5.2        (7.3 ) 

Gains on sales of equity securities

      0.8        5.4        (4.6 ) 

Losses on sales of equity securities

      (2.1 )      (0.0 )      (2.0 ) 

Losses on write-down of equity securities

      (0.8 )      (0.1 )      (0.7 ) 

Other non-recurring gains (losses)

      0.7        (0.5 )      1.2   
  

 

 

    

 

 

    

 

 

  

Ordinary profits

      47.2        47.1        0.0   
  

 

 

    

 

 

    

 

 

  

Net extraordinary gains (losses)

      (0.1 )      0.0        (0.1 ) 

Income before income taxes

      47.0        47.1        (0.0 ) 

Income taxes-current

      11.8        14.0        (2.2 ) 

Income taxes-deferred

      1.2        (0.1 )      1.3   

Total taxes

      13.0        13.9        (0.8 ) 
  

 

 

    

 

 

    

 

 

  

Net income

           34.0          33.2        0.7   
  

 

 

    

 

 

    

 

 

  
(Reference)       

Total credit costs (1)+(2)+(3)+(4)+(5)+(6)

      0.3        2.3        (2.0 ) 

 

4

Mitsubishi UFJ Financial Group, Inc.

2. Non Performing Loans Based on the Financial Reconstruction Law

BTMU and MUTB Combined including Trust Account

 

     (in billions of yen)  
     As of
June 30, 2015		     As of
March 31, 2015		  

Bankrupt or De facto Bankrupt

      125.7        89.8   

Doubtful

      566.3        571.4   

Special Attention

      519.7        561.9   
  

 

 

    

 

 

  

Non Performing Loans

      1,211.7        1,223.2   
  

 

 

    

 

 

  

Total loans

      107,037.7        105,335.6   
  

 

 

    

 

 

  

Non Performing Loans / Total loans

      1.13 %      1.16 % 

BTMU Non-consolidated

 

     
     (in billions of yen)  
     As of
June 30, 2015		     As of
March 31, 2015		  

Bankrupt or De facto Bankrupt

      123.8        87.9   

Doubtful

      549.1        549.6   

Special Attention

      496.4        539.3   
  

 

 

    

 

 

  

Non Performing Loans

      1,169.4        1,176.9   
  

 

 

    

 

 

  

Total loans

      93,853.1        92,293.9   
  

 

 

    

 

 

  

Non Performing Loans / Total loans

      1.24 %      1.27 % 

MUTB Non-consolidated

 

     
     (in billions of yen)  
     As of
June 30, 2015		     As of
March 31, 2015		  

Bankrupt or De facto Bankrupt

      1.8        1.8   

Doubtful

      17.0        21.6   

Special Attention

      22.5        21.8   
  

 

 

    

 

 

  

Non Performing Loans

      41.5        45.4   
  

 

 

    

 

 

  

Total loans

      13,158.6        13,014.6   
  

 

 

    

 

 

  

Non Performing Loans / Total loans

      0.31 %      0.34 % 

MUTB Non-consolidated: Trust Account

 

     
     (in billions of yen)  
     As of
June 30, 2015		     As of
March 31, 2015		  

Bankrupt or De facto Bankrupt

      0.0        0.0   

Doubtful

      0.1        0.1   

Special Attention

      0.6        0.7   
  

 

 

    

 

 

  

Non Performing Loans

      0.8        0.9   
  

 

 

    

 

 

  

Total loans

      25.9        27.0   
  

 

 

    

 

 

  

Non Performing Loans / Total loans

      3.15 %      3.41 % 

 

5

Mitsubishi UFJ Financial Group, Inc.

3. Securities

MUFG Consolidated

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

 

     (in billions of yen)  
     As of June 30, 2015      As of March 31, 2015  
     Amount on
consolidated
balance sheet		      Differences      Amount on
consolidated
balance sheet		      Differences  

Debt securities being held to maturity

      4,071.3         58.1         4,133.6         53.7   
     (in billions of yen)  
     As of June 30, 2015      As of March 31, 2015  
     Amount on
consolidated
balance sheet		      Differences      Amount on
consolidated
balance sheet		      Differences  

Other securities

      62,210.8         3,796.5         69,336.2         4,133.2   

Domestic equity securities

      5,954.6         3,174.3         5,721.3         2,930.0   

Domestic bonds

      33,576.8         254.6         36,520.2         326.3   

Other

      22,679.3         367.4         27,094.6         876.8   

Foreign equity securities

      196.6         64.3         191.4         58.4   

Foreign bonds

      18,290.4         169.6         22,564.9         597.3   

Other

      4,192.2         133.4         4,338.2         220.9   

 

6

Mitsubishi UFJ Financial Group, Inc.

BTMU Non-consolidated

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

 

                                                                   
     (in billions of yen)  
     As of June 30, 2015     As of March 31, 2015  
     Amount on
balance sheet		      Differences     Amount on
balance sheet		      Differences  

Debt securities being held to maturity

      2,942.9         31.8        3,102.2         37.8   

Stocks of subsidiaries and affiliates

      843.4         (2.7 )      865.6         206.0   
     (in billions of yen)  
     As of June 30, 2015     As of March 31, 2015  
     Amount on
balance sheet		      Differences     Amount on
balance sheet		      Differences  

Other securities

      43,098.4         2,823.8        48,785.0         3,073.2   

Domestic equity securities

      4,874.4         2,502.2        4,673.9         2,291.3   

Domestic bonds

      27,205.3         202.5        29,967.1         275.0   

Other

      11,018.7         118.9        14,143.9         506.7   

Foreign equity securities

      185.7         59.6        178.5         53.5   

Foreign bonds

      7,883.7         38.6        10,872.2         352.5   

Other

      2,949.2         20.6        3,093.0         100.5   

 

7

Mitsubishi UFJ Financial Group, Inc.

MUTB Non-consolidated

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

 

                                                                   
     (in billions of yen)  
     As of June 30, 2015     As of March 31, 2015  
     Amount on
balance sheet		      Differences     Amount on
balance sheet		      Differences  

Debt securities being held to maturity

      24.9         0.0        24.9         0.0   

Stocks of subsidiaries and affiliates

      57.7         125.2        57.7         133.9   
     (in billions of yen)  
     As of June 30, 2015     As of March 31, 2015  
     Amount on
balance sheet		      Differences     Amount on
balance sheet		      Differences  

Other securities

      15,619.3            889.5        16,903.4            966.8   

Domestic equity securities

      1,132.0         607.3        1,081.8         556.0   

Domestic bonds

      6,396.7         51.5        6,479.4         50.3   

Other

      8,090.5         230.6        9,342.1         360.4   

Foreign equity securities

      0.0         0.0        0.0         0.0   

Foreign bonds

      7,205.5         121.8        8,455.7         243.3   

Other

      884.9         108.7        886.3         117.0   

 

8

Mitsubishi UFJ Financial Group, Inc.

4. ROE

MUFG Consolidated

 

                                                                                         
      (%)  
      For the three months
ended
June 30, 2015		      For the three months
ended
June 30, 2014		  

ROE

      9.03         8.56   

 

Note:

      
ROE is computed as follows:   
(profits attributable to owners of parent × 4) - Equivalent of annual dividends on nonconvertible preferred stocks      ×100   

{(Total shareholders’ equity at the beginning of the period - Number of nonconvertible preferred stocks at the beginning of the period × Issue price + Foreign currency translation adjustments at the beginning of the period) + (Total shareholders’ equity at the end of the period - Number of nonconvertible preferred stocks at the end of the period × Issue price + Foreign currency translation adjustments at the end of the period)} / 2

   
  
  
  
  
  

 

9

Mitsubishi UFJ Financial Group, Inc.

5. Average Interest Rate Spread

BTMU and MUTB Combined

(Domestic business segment)

 

                                                                                         
     (percentage per annum)  
     For the three months
ended
June 30, 2015		      For the three months
ended
June 30, 2014		  

Average interest rate on loans and bills discounted

      0.93         1.01   

Average interest rate on deposits and NCD

      0.04         0.05   

Interest rate spread

      0.88         0.96   

(After excluding loans to the Japanese government and governmental organizations)

    (percentage per annum)  

Average interest rate on loans and bills discounted

      1.06         1.16   

Interest rate spread

      1.02         1.11   

BTMU Non-consolidated

(Domestic business segment)

 

                                                                                         
      (percentage per annum)  
     For the three months
ended
June 30, 2015		      For the three months
ended
June 30, 2014		  

Average interest rate on loans and bills discounted

      0.97         1.05   

Average interest rate on deposits and NCD

      0.03         0.03   

Interest rate spread

      0.93         1.02   

(After excluding loans to the Japanese government and governmental organizations)

    (percentage per annum)  

Average interest rate on loans and bills discounted

      1.14         1.24   

Interest rate spread

      1.11         1.20   

MUTB Non-consolidated

(Domestic business segment)

 

                                                                                         
      (percentage per annum)  
     For the three months
ended
June 30, 2015		      For the three months
ended
June 30, 2014		  

Average interest rate on loans and bills discounted

      0.68         0.78   

Average interest rate on deposits and NCD

      0.13         0.14   

Interest rate spread

      0.55         0.63   

(After excluding loans to the Japanese government and governmental organizations)

    (percentage per annum)  

Average interest rate on loans and bills discounted

      0.68         0.78   

Interest rate spread

      0.55         0.63   

 

10

Mitsubishi UFJ Financial Group, Inc.

6. Loans and Deposits

BTMU and MUTB Combined

 

                                                 
      (in billions of yen)  
      As of
June 30, 2015		      As of
March 31, 2015		  

Deposits (ending balance)

      139,666.7         137,332.3   

Deposits (average balance)

      137,964.8         132,006.8   

Loans (ending balance)

      97,156.2         95,350.2   

Loans (average balance)

      97,069.0         94,794.2   
     (in billions of yen)  
      As of
June 30, 2015		      As of
March 31, 2015		  

Domestic deposits (ending balance)*

      118,445.4         117,864.3   

Individuals

      70,508.9         70,415.1   

Note:

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

BTMU Non-consolidated

 

                                                 
      (in billions of yen)  
      As of
June 30, 2015		      As of
March 31, 2015		  

Deposits (ending balance)

      126,750.9         124,590.9   

Deposits (average balance)

      125,064.1         119,381.2   

Loans (ending balance)

      84,421.1         82,740.3   

Loans (average balance)

      84,391.2         82,699.4   
     (in billions of yen)  
      As of
June 30, 2015		      As of
March 31, 2015		  

Domestic deposits (ending balance)*

      107,023.4         106,458.7   

Individuals

      62,322.9         62,194.0   

Note:

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

MUTB Non-consolidated

 

                                                 
      (in billions of yen)  
      As of
June 30, 2015		      As of
March 31, 2015		  

Deposits (ending balance)

      12,915.8         12,741.4   

Deposits (average balance)

      12,900.7         12,625.6   

Loans (ending balance)

      12,735.0         12,609.8   

Loans (average balance)

      12,677.8         12,094.8   
     (in billions of yen)  
      As of
June 30, 2015		      As of
March 31, 2015		  

Domestic deposits (ending balance)*

      11,422.0         11,405.5   

Individuals

      8,186.0         8,221.1   

Note:

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

 

11

Mitsubishi UFJ Financial Group, Inc.

7. Statements of Trust Assets and Liabilities

MUTB Non-consolidated

Including trust assets under service-shared co-trusteeship

 

                                                 
(in billions of yen)    As of
March 31, 2015		      As of
June 30, 2015		  

Assets:

      

Loans and bills discounted

      112.3         114.5   

Securities

      58,086.9         56,376.6   

Beneficiary rights to the trust

      49,353.2         53,196.3   

Securities held in custody accounts

      3,172.3         3,592.2   

Monetary claims

      10,619.0         10,302.7   

Tangible fixed assets

      10,805.0         10,944.0   

Intangible fixed assets

      192.5         193.9   

Other claims

      5,040.4         4,381.4   

Call loans

      2,307.4         2,259.5   

Due from banking account

      3,184.7         3,574.8   

Cash and due from banks

      3,449.1         3,532.9   
  

 

 

     

 

 

  

Total

      146,323.3         148,469.3   
  

 

 

     

 

 

  

Liabilities:

      

Money trusts

      23,452.5         21,270.7   

Pension trusts

      15,360.6         15,512.1   

Property formation benefit trusts

      8.3         8.3   

Investment trusts

      48,930.3         52,794.5   

Money entrusted other than money trusts

      3,218.8         3,522.1   

Securities trusts

      5,066.0         5,420.0   

Monetary claim trusts

      10,266.6         9,891.3   

Equipment trusts

      44.4         42.4   

Land and fixtures trusts

      82.3         82.4   

Composite trusts

      39,893.1         39,925.1   
  

 

 

     

 

 

  

Total

      146,323.3         148,469.3   
  

 

 

     

 

 

  

 

Note:

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

 

12

Mitsubishi UFJ Financial Group, Inc.

(Reference)

Exposure to “Securitized Products and Related Investments”

Our exposure to securitized products and related investments as of the end of June 2015 is outlined below. (Figures are on a managerial basis and rounded off to billion yen or to the second decimal point of trillion yen)

 

1. Balance, net unrealized gains (losses), realized gains (losses)

 

(1) The balance as of the end of June 2015 was ¥3.32 trillion in total, a decrease of ¥0.07 trillion from the balance as of the end of March 2015, mainly due to a decrease in CLOs.

 

(2) Net unrealized losses were ¥4 billion, worsened by ¥1 billion compared to the end of March 2015.

 

(3) P/L impact for the quarter ended June 30, 2015 was nil.

 

      (¥bn)  
                              of which securities being
held to maturity2		  
     Balance1      Change from
end of
March 2015		     Net unrealized
gains (losses)		     Change from
end of
March 2015		     Balance      Net unrealized
gains (losses)		  

RMBS

      20         (1 )      4        0        0         0   

Sub-prime RMBS

      0         0        0        0        0         0   

CMBS

      417         12        (4 )      (7 )      217         (3 ) 

CLOs

      2,805         (73 )      (7 )      6        1,836         (4 ) 

Other securitized products (card, etc.)

      74         (12 )      2        0        20         0   

CDOs

      0         0        0        0        0         0   

Sub-prime ABS CDOs

      0         0        0        0        0         0   

SIV

      0         0        0        0        0         0   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Total

      3,316         (74 )      (4 )      (1 )      2,074         (8 ) 
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

 

1. Balance is the amount after impairment and before deducting net unrealized gains (losses).
    The above table does not include mortgage-backed securities arranged and guaranteed by U.S. government sponsored enterprises, etc., Japanese RMBS such as Japanese Housing Finance Agency securities, and products held by funds such as investment trusts. These are also applicable to the tables in this document.
2. Following the publication of “Tentative Solution on Reclassification of Debt Securities” (Practical Issue Task Force No.26, The Accounting Standards Board of Japan, December 5, 2008), some of our securitized products were reclassified into “securities being held to maturity” from “securities available for sale” at and after the end of January 2009. The balance and net unrealized gains (losses) of the securities being held to maturity in the above table are based on book value before reclassification.

 

2. Distribution by rating

 

(1) AAA-rated products accounted for 87% of our investments in securitized products as of the end of June 2015, unchanged from the end of March 2015. The volume of holdings of high-rated securitized product decreased, while the total volume of holdings of securitized product also decreased, resulted unchange in the the ratio.

 

(2) AAA and AA-rated products accounted for 98% of our investments in securitized products.

 

     (¥bn)  
     AAA     AA     A     BBB     BB or
lower		     Unrated     Total  
RMBS      2        3        0        10        5        0        20   

Sub-prime RMBS

      0        0        0        0        0        0        0   
CMBS      174        243        0        0        0        0        417   
CLOs      2,679        80        44        2        0        0        2,805   
Other securitized products (card, etc.)      21        24        0        0        0        29        74   
CDOs      0        0        0        0        0        0        0   

Sub-prime ABS CDOs

      0        0        0        0        0        0        0   
SIV      0        0        0        0        0        0        0   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
Total      2,876        349        44        13        5        29        3,316   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
Percentage of total      87 %      11 %      1 %      0 %      0 %      1 %      100 % 
Percentage of total (End of March 2015)      87 %      10 %      1 %      0 %      0 %      1 %      100 % 

 

13

Mitsubishi UFJ Financial Group, Inc.

 

3. Credit exposure related to leveraged loan (LBO loan)

 

(1) We are not engaged in origination or distribution of securitized products relating to LBO loans, and therefore, there is no balance of LBO loans for securitization.

 

(2) The following table shows the balances of LBO loans as of the end of June 2015.

 

     (¥bn)  
     Americas      Europe      Asia      Japan      Total      Change from
end of March
2015		  
LBO Loan3 (Balance on a commitment basis)      16         130         0         337         484         10   

Balance on a booking basis

      5         106         0         308         419         13   

3 Includes balance after refinancing. (Figures are rounded off.)

 

4. Special Purpose Entities (SPEs)

 

(1) We are engaged in sponsoring ABCP issuance for securitizing our clients’ assets.

 

(2) The balance of assets purchased by ABCP conduits (special purpose companies for issuing ABCP) as of the end of June 2015 was ¥4.66 trillion (including ¥2.53 trillion in overseas).

 

(3) The purchased assets are mainly receivables and they do not include residential mortgages.

End

 

 

<Terminology>

          
RMBS    :    Asset-backed securities collateralized by residential mortgages
CMBS    :    Asset-backed securities collateralized by commercial mortgages
CLOs    :    Collateralized loan obligations backed by whole commercial loans, revolving credit facilities, or letters of credit
CDOs    :    Structured credit securities backed by a pool of securities, loans, or credit default swaps
ABS CDOs    :    Collateralized debt obligations backed by asset backed securities
SIVs    :    Investment companies established mainly for gaining profit margin by raising funds through subordinated notes and short-term CPs, etc. and investing in relatively long-term securitized products and bonds, etc.
LBO Loans    :    Loans collateralized by assets and/or future cash flows of an acquired company
ABCP    :    Commercial papers issued by a Special Purposed Company (SPC) collateralized by receivables

 

 

 

 

14

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