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 2016

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: February 1, 2016

 

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 nine months ended December 31, 2015

February 1, 2016

 

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:

    February 12, 2016    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, 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		  
Nine months ended    million yen      %      million yen      %     million yen      %  

December 31, 2015

      4,290,963         0.7        1,340,801         (9.7 )     852,279         (8.1 )

December 31, 2014

      4,260,328         11.7        1,484,363         17.8       926,971         18.0  

 

(*) Comprehensive income     December 31, 2015: 433,130 million yen (81.7) %;     December 31, 2014: 2,365,619 million yen 93.4 %

 

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

December 31, 2015

      61.23        60.95  

December 31, 2014

      65.50        65.20  

(2) Financial Conditions

 

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

December 31, 2015

      295,777,179         17,239,626         5.2   

March 31, 2015

      286,149,768         17,287,533         5.4   

(Reference) Shareholders’ equity as of       December 31, 2015: 15,269,453 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

      —        9.00        —         ——           ——     

ending March 31, 2016 (Forecast)

      ——         ——           ——         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:    December 31, 2015    14,168,853,820 shares   
   March 31, 2015    14,168,853,820 shares   
(B)  Treasury stocks:    December 31, 2015    380,246,747 shares   
   March 31, 2015    151,014,803 shares   
(C)  Average outstanding stocks:    Nine months ended December 31, 2015    13,918,899,596 shares   
   Nine months ended December 31, 2014      14,152,425,073 shares   

ø 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”.

ø 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 Nine Months Ended December 31, 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
December 31, 2015		  

Assets:

     

Cash and due from banks

      40,488,318        50,621,650   

Call loans and bills bought

      604,625        504,704   

Receivables under resale agreements

      7,342,335        7,240,433   

Receivables under securities borrowing transactions

      4,633,544        6,253,417   

Monetary claims bought

      4,570,712        4,931,258   

Trading assets

      20,810,617        22,860,530   

Money held in trust

      700,218        724,433   

Securities

      73,538,191        65,233,402   

Loans and bills discounted

      109,368,340        113,348,181   

Foreign exchanges

      2,187,311        1,961,574   

Other assets

      10,119,936        10,116,082   

Tangible fixed assets

      1,352,727        1,357,124   

Intangible fixed assets

      1,297,277        1,238,600   

Net defined benefit assets

      504,761        569,857   

Deferred tax assets

      114,919        98,931   

Customers’ liabilities for acceptances and guarantees

      9,511,714        9,619,611   

Allowance for credit losses

      (995,784 )      (902,614 ) 
  

 

 

    

 

 

  

Total assets

      286,149,768        295,777,179   
  

 

 

    

 

 

  

Liabilities:

     

Deposits

      153,357,410        156,099,498   

Negotiable certificates of deposit

      16,073,850        15,180,248   

Call money and bills sold

      3,600,104        4,647,829   

Payables under repurchase agreements

      21,899,506        24,960,980   

Payables under securities lending transactions

      8,205,350        10,795,183   

Commercial papers

      2,179,634        2,418,612   

Trading liabilities

      15,521,917        16,048,128   

Borrowed money

      13,866,196        14,750,539   

Foreign exchanges

      1,496,476        2,056,870   

Short-term bonds payable

      789,512        876,985   

Bonds payable

      8,141,713        8,312,697   

Due to trust accounts

      3,183,295        2,469,508   

Other liabilities

      9,530,371        8,966,841   

Reserve for bonuses

      90,360        49,898   

Reserve for bonuses to directors

      454        276   

Net defined benefit liabilities

      62,121        57,538   

Reserve for retirement benefits to directors

      1,086        1,032   

Reserve for loyalty award credits

      15,375        16,940   

Reserve for contingent losses

      204,790        151,404   

Reserves under special laws

      3,771        4,121   

Deferred tax liabilities

      988,550        916,318   

Deferred tax liabilities for land revaluation

      138,669        136,487   

Acceptances and guarantees

      9,511,714        9,619,611   
  

 

 

    

 

 

  

Total liabilities

      268,862,234        278,537,553   
  

 

 

    

 

 

  

 

2

Mitsubishi UFJ Financial Group, Inc.

 

 

(in millions of yen)    As of
March 31, 2015		     As of
December 31, 2015		  

Net assets:

     

Capital stock

      2,141,513        2,141,513   

Capital surplus

      1,428,403        1,426,371   

Retained earnings

      7,860,410        8,485,337   

Treasury stock

      (101,661 )      (298,917 ) 
  

 

 

    

 

 

  

Total shareholders’ equity

      11,328,666        11,754,303   
  

 

 

    

 

 

  

Net unrealized gains (losses) on other securities

      2,835,091        2,419,899   

Net deferred gains (losses) on hedging instruments

      83,194        200,330   

Land revaluation excess

      172,350        172,686   

Foreign currency translation adjustments

      951,547        769,541   

Remeasurements of defined benefit plans

      (52,909 )      (47,308 ) 
  

 

 

    

 

 

  

Total accumulated other comprehensive income

      3,989,274        3,515,149   
  

 

 

    

 

 

  

Subscription rights to shares

      8,271        8,034   

Non-controlling interests

      1,961,322        1,962,139   
  

 

 

    

 

 

  

Total net assets

      17,287,533        17,239,626   
  

 

 

    

 

 

  

Total liabilities and net assets

      286,149,768        295,777,179   
  

 

 

    

 

 

  

 

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 nine months
ended
December 31, 2014		      For the nine months
ended
December 31, 2015		  

Ordinary income

      4,260,328         4,290,963   

Interest income

      2,047,164         2,071,759   

Interest on loans and bills discounted

      1,342,778         1,361,475   

Interest and dividends on securities

      458,696         473,210   

Trust fees

      80,331         84,658   

Fees and commissions

      1,080,952         1,114,399   

Trading income

      252,093         257,422   

Other business income

      354,015         367,458   

Other ordinary income

      445,770         395,265   

Ordinary expenses

      2,775,965         2,950,161   

Interest expenses

      458,565         475,793   

Interest on deposits

      214,760         218,818   

Fees and commissions

      146,756         159,523   

Other business expenses

      96,253         163,831   

General and administrative expenses

      1,917,061         1,941,117   

Other ordinary expenses

      157,329         209,895   
  

 

 

     

 

 

  

Ordinary profits

      1,484,363         1,340,801   
  

 

 

     

 

 

  

Extraordinary gains

      12,514         2,477   

Gains on disposition of fixed assets

      2,871         2,477   

Gains on change in equity

      9,643         —     

Extraordinary losses

      86,095         45,992   

Losses on disposition of fixed assets

      5,496         7,100   

Losses on impairment of fixed assets

      5,997         2,528   

Provision for reserve for contingent liabilities from financial instruments transactions

      669         349   

Losses on change in equity

      33,291         36,013   

Settlement package

      37,097         —     

Losses on sales of equity securities of subsidiaries

      3,542         —     
  

 

 

     

 

 

  

Income before income taxes and others

      1,410,782         1,297,286   
  

 

 

     

 

 

  

Income taxes—current

      306,759         270,583   

Income taxes—deferred

      76,465         84,256   
  

 

 

     

 

 

  

Total taxes

      383,225         354,840   
  

 

 

     

 

 

  

Profits

      1,027,556         942,446   
  

 

 

     

 

 

  

Profits attributable to non-controlling interests

      100,585         90,167   
  

 

 

     

 

 

  

Profits attributable to owners of parent

      926,971         852,279   
  

 

 

     

 

 

  

 

4

Mitsubishi UFJ Financial Group, Inc.

 

Consolidated Statements of Comprehensive Income

 

(in millions of yen)    For the nine months
ended
December 31, 2014		     For the nine months
ended
December 31, 2015		  

Profits

      1,027,556        942,446   

Other comprehensive income

     

Net unrealized gains (losses) on other securities

      1,062,871        (418,271 ) 

Net deferred gains (losses) on hedging instruments

      112,099        114,314   

Land revaluation excess

      —          297   

Foreign currency translation adjustments

      163,705        (190,477 ) 

Remeasurements of defined benefit plans

      7,480        4,820   

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

      (8,093 )      (20,000 ) 
  

 

 

    

 

 

  

Total other comprehensive income

      1,338,062        (509,315 ) 
  

 

 

    

 

 

  

Comprehensive income

      2,365,619        433,130   
  

 

 

    

 

 

  

(Comprehensive income attributable to)

     

Comprehensive income attributable to owners of parent

      2,255,609        366,944   

Comprehensive income attributable to non-controlling interests

      110,010        66,185   

 

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 Nine Months Ended December 31, 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 nine months ended     Increase
(Decrease)
(A) - (B)		  
     December 31, 2015
(A)		     December 31, 2014
(B)		    

Gross profits

      3,096.5        3,113.0        (16.5 ) 

Gross profits before credit costs for trust accounts

      3,096.5        3,112.6        (16.0 ) 

Net interest income

      1,596.0        1,588.7        7.2   

Trust fees

      84.6        80.3        4.3   

Credit costs for trust accounts (1)

      0.0        0.4        (0.4 ) 

Net fees and commissions

      954.8        934.1        20.6   

Net trading profits

      257.4        252.0        5.3   

Net other business profits

      203.6        257.7        (54.1 ) 

Net gains (losses) on debt securities

      93.5        129.8        (36.3 ) 

General and administrative expenses

      1,927.6        1,894.2        33.3   

Amortization of goodwill

      12.5        12.2        0.3   

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

      1,181.5        1,230.6        (49.0 ) 

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

      1,168.9        1,218.3        (49.3 ) 

Provision for general allowance for credit losses (2)

      —          —          —     

Net business profits*

      1,168.9        1,218.8        (49.8 ) 

Net non-recurring gains (losses)

      171.8        265.5        (93.6 ) 

Credit costs (3)

      (136.7 )      (101.8 )      (34.9 ) 

Losses on loan write-offs

      (97.1 )      (87.1 )      (9.9 ) 

Provision for specific allowance for credit losses

      —          —          —     

Other credit costs

      (39.6 )      (14.7 )      (24.9 ) 

Reversal of allowance for credit losses (4)

      34.7        84.4        (49.6 ) 

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

      —          2.1        (2.1 ) 

Gains on loans written-off (6)

      42.8        45.6        (2.7 ) 

Net gains (losses) on equity securities

      63.6        78.9        (15.3 ) 

Gains on sales of equity securities

      85.6        93.2        (7.5 ) 

Losses on sales of equity securities

      (13.2 )      (10.6 )      (2.6 ) 

Losses on write-down of equity securities

      (8.7 )      (3.6 )      (5.1 ) 

Profits (losses) from investments in affiliates

      191.3        161.5        29.7   

Other non-recurring gains (losses)

      (24.0 )      (5.4 )      (18.5 ) 
  

 

 

    

 

 

    

 

 

  

Ordinary profits

      1,340.8        1,484.3        (143.5 ) 
  

 

 

    

 

 

    

 

 

  

Net extraordinary gains (losses)

      (43.5 )      (73.5 )      30.0   

Net gains (losses) on change in equity

      (36.0 )      (23.6 )      (12.3 ) 

Settlement package

      —          (37.0 )      37.0   

Income before income taxes and others

      1,297.2        1,410.7        (113.4 ) 

Income taxes-current

      270.5        306.7        (36.1 ) 

Income taxes-deferred

      84.2        76.4        7.7   

Total taxes

      354.8        383.2        (28.3 ) 

Profits

      942.4        1,027.5        (85.1 ) 

Profits attributable to non-controlling interests

      90.1        100.5        (10.4 ) 
  

 

 

    

 

 

    

 

 

  

Profits attributable to owners of parent

      852.2        926.9        (74.6 ) 
  

 

 

    

 

 

    

 

 

  

 

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)

      (59.1 )      30.9        (90.0 ) 

 

1

Mitsubishi UFJ Financial Group, Inc.

BTMU and MUTB Combined

 

     (in billions of yen)  
     For the nine months ended     Increase
(Decrease)
(A) - (B)		  
     December 31,  2015
(A)		     December 31,  2014
(B)		    

Gross profits

      1,776.7        1,871.7        (94.9 ) 

Gross profits before credit costs for trust accounts

      1,776.7        1,871.2        (94.5 ) 

Net interest income

      1,027.9        1,064.5        (36.6 ) 

Trust fees

      65.3        62.0        3.3   

Credit costs for trust accounts (1)

      0.0        0.4        (0.4 ) 

Net fees and commissions

      426.6        434.4        (7.8 ) 

Net trading profits

      96.0        112.1        (16.0 ) 

Net other business profits

      160.6        198.4        (37.8 ) 

Net gains (losses) on debt securities

      86.5        127.6        (41.0 ) 

General and administrative expenses

      996.0        1,024.4        (28.4 ) 

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

      780.6        846.7        (66.0 ) 

Provision for general allowance for credit losses (2)

      —          —          —     

Net business profits

      780.7        847.2        (66.5 ) 

Net non-recurring gains (losses)

      86.0        135.1        (49.1 ) 

Credit costs (3)

      (67.9 )      (36.1 )      (31.7 ) 

Losses on loan write-offs

      (26.9 )      (20.6 )      (6.2 ) 

Provision for specific allowance for credit losses

      —          —          —     

Other credit costs

      (41.0 )      (15.5 )      (25.5 ) 

Reversal of allowance for credit losses (4)

      80.8        109.3        (28.5 ) 

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

      0.2        5.7        (5.5 ) 

Gains on loans written-off (6)

      13.2        13.4        (0.1 ) 

Net gains (losses) on equity securities

      56.3        52.3        3.9   

Gains on sales of equity securities

      77.1        67.3        9.7   

Losses on sales of equity securities

      (12.3 )      (9.2 )      (3.1 ) 

Losses on write-down of equity securities

      (8.4 )      (5.7 )      (2.6 ) 

Other non-recurring gains (losses)

      3.3        (9.5 )      12.8   
  

 

 

    

 

 

    

 

 

  

Ordinary profits

      866.7        982.4        (115.6 ) 
  

 

 

    

 

 

    

 

 

  

Net extraordinary gains (losses)

      14.3        (44.8 )      59.2   

Net gains (losses) on disposition of fixed assets

      (4.4 )      (2.5 )      (1.8 ) 

Losses on impairment of fixed assets

      (1.5 )      (5.2 )      3.6   

Gains on sales of equity securities of subsidiaries

      18.3        —          18.3   

Gains on sales of equity securities of affiliates

      1.9        —          1.9   

Settlement package

      —          (37.0 )      37.0   

Income before income taxes

      881.1        937.5        (56.4 ) 

Income taxes-current

      198.4        258.1        (59.7 ) 

Income taxes-deferred

      70.3        31.3        39.0   

Total taxes

      268.7        289.4        (20.7 ) 
  

 

 

    

 

 

    

 

 

  

Net income

      612.3        648.0        (35.7 ) 
  

 

 

    

 

 

    

 

 

  

(Reference)

       

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

      26.3        92.8        (66.4 ) 

 

2

Mitsubishi UFJ Financial Group, Inc.

BTMU Non-consolidated

 

     (in billions of yen)  
     For the nine months ended     Increase
(Decrease)
(A) - (B)		  
     December 31, 2015
(A)		     December 31, 2014
(B)		    

Gross profits

      1,507.4        1,601.2        (93.8 ) 

Net interest income

      890.6        932.7        (42.0 ) 

Net fees and commissions

      356.3        368.4        (12.0 ) 

Net trading profits

      77.2        85.4        (8.1 ) 

Net other business profits

      183.0        214.6        (31.5 ) 

Net gains (losses) on debt securities

      89.3        131.7        (42.3 ) 

General and administrative expenses

      857.5        886.2        (28.6 ) 

Amortization of goodwill

      0.2        0.2        0.0   

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

      650.0        715.2        (65.1 ) 

Net business profits before provision for general allowance for credit losses

      649.8        715.0        (65.1 ) 

Provision for general allowance for credit losses (1)

      —          —          —     

Net business profits

      649.8        715.0        (65.1 ) 

Net non-recurring gains (losses)

      78.9        104.4        (25.5 ) 

Credit costs (2)

      (67.8 )      (35.8 )      (31.9 ) 

Losses on loan write-offs

      (26.8 )      (20.6 )      (6.1 ) 

Provision for specific allowance for credit losses

      —          —          —     

Other credit costs

      (41.0 )      (15.1 )      (25.8 ) 

Reversal of allowance for credit losses (3)

      79.6        96.1        (16.5 ) 

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

      —          5.1        (5.1 ) 

Gains on loans written-off (5)

      13.0        12.8        0.1   

Net gains (losses) on equity securities

      52.2        41.7        10.4   

Gains on sales of equity securities

      68.8        54.4        14.4   

Losses on sales of equity securities

      (9.2 )      (7.3 )      (1.9 ) 

Losses on write-down of equity securities

      (7.3 )      (5.3 )      (2.0 ) 

Other non-recurring gains (losses)

      1.8        (15.6 )      17.5   
  

 

 

    

 

 

    

 

 

  

Ordinary profits

      728.7        819.5        (90.7 ) 
  

 

 

    

 

 

    

 

 

  

Net extraordinary gains (losses)

      15.0        (38.6 )      53.6   

Net gains (losses) on disposition of fixed assets

      (4.3 )      (0.9 )      (3.4 ) 

Losses on impairment of fixed assets

      (0.9 )      (0.6 )      (0.3 ) 

Gains on sales of equity securities of subsidiaries

      18.3        —          18.3   

Gains on sales of equity securities of affiliates

      1.9        —          1.9   

Settlement package

      —          (37.0 )      37.0   

Income before income taxes

      743.7        780.8        (37.0 ) 

Income taxes-current

      167.6        214.3        (46.7 ) 

Income taxes-deferred

      60.4        27.0        33.4   

Total taxes

      228.0        241.4        (13.3 ) 
  

 

 

    

 

 

    

 

 

  

Net income

      515.7        539.4        (23.7 ) 
  

 

 

    

 

 

    

 

 

  

(Reference)

       

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

      24.8        78.3        (53.5 ) 

 

3

Mitsubishi UFJ Financial Group, Inc.

MUTB Non-consolidated

 

     (in billions of yen)  
     For the nine months ended     Increase
(Decrease)
(A) - (B)		  
     December 31, 2015
(A)		     December 31, 2014
(B)		    

Gross profits

      269.3        270.4        (1.1 ) 

Gross profits before credit costs for trust accounts

      269.3        269.9        (0.6 ) 

Trust fees

      65.3        62.0        3.3   

Credit costs for trust accounts (1)

      0.0        0.4        (0.4 ) 

Net interest income

      137.3        131.8        5.4   

Net fees and commissions

      70.2        66.0        4.2   

Net trading profits

      18.7        26.6        (7.8 ) 

Net other business profits

      (22.4 )      (16.1 )      (6.2 ) 

Net gains (losses) on debt securities

      (2.7 )      (4.0 )      1.2   

General and administrative expenses

      138.4        138.2        0.2   

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

      130.8        131.7        (0.8 ) 

Provision for general allowance for credit losses (2)

      —          —          —     

Net business profits

      130.8        132.2        (1.3 ) 

Net non-recurring gains (losses)

      7.1        30.6        (23.5 ) 

Credit costs (3)

      (0.1 )      (0.3 )      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 )      (0.3 )      0.3   

Reversal of allowance for credit losses (4)

      1.2        13.1        (11.9 ) 

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

      0.2        0.5        (0.3 ) 

Gains on loans written-off (6)

      0.2        0.5        (0.3 ) 

Net gains (losses) on equity securities

      4.1        10.6        (6.4 ) 

Gains on sales of equity securities

      8.2        12.9        (4.6 ) 

Losses on sales of equity securities

      (3.1 )      (1.8 )      (1.2 ) 

Losses on write-down of equity securities

      (1.0 )      (0.4 )      (0.6 ) 

Other non-recurring gains (losses)

      1.4        6.0        (4.6 ) 
  

 

 

    

 

 

    

 

 

  

Ordinary profits

      137.9        162.9        (24.9 ) 
  

 

 

    

 

 

    

 

 

  

Net extraordinary gains (losses)

      (0.6 )      (6.2 )      5.5   

Net gains (losses) on disposition of fixed assets

      (0.0 )      (1.6 )      1.5   

Losses on impairment of fixed assets

      (0.5 )      (4.5 )      4.0   

Income before income taxes

      137.3        156.6        (19.3 ) 

Income taxes-current

      30.7        43.7        (12.9 ) 

Income taxes-deferred

      9.8        4.3        5.5   

Total taxes

      40.6        48.0        (7.3 ) 
  

 

 

    

 

 

    

 

 

  

Net income

      96.6        108.6        (11.9 ) 
  

 

 

    

 

 

    

 

 

  

(Reference)

       

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

      1.5        14.4        (12.9 ) 

 

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
December 31, 2015		     As of
March 31, 2015		  

Bankrupt or De facto Bankrupt

      119.1        89.8   

Doubtful

      519.2        571.4   

Special Attention

      484.5        561.9   
  

 

 

    

 

 

  

Non Performing Loans

      1,122.9        1,223.2   
  

 

 

    

 

 

  

Total loans

      110,098.0        105,335.6   
  

 

 

    

 

 

  

Non Performing Loans / Total loans

      1.01 %      1.16 % 

BTMU Non-consolidated

 

     
     (in billions of yen)  
     As of
December 31, 2015		     As of
March 31, 2015		  

Bankrupt or De facto Bankrupt

      117.2        87.9   

Doubtful

      502.9        549.6   

Special Attention

      463.0        539.3   
  

 

 

    

 

 

  

Non Performing Loans

      1,083.1        1,176.9   
  

 

 

    

 

 

  

Total loans

      96,389.0        92,293.9   
  

 

 

    

 

 

  

Non Performing Loans / Total loans

      1.12 %      1.27 % 

MUTB Non-consolidated

 

     
     (in billions of yen)  
     As of
December 31, 2015		     As of
March 31, 2015		  

Bankrupt or De facto Bankrupt

      1.9        1.8   

Doubtful

      16.1        21.6   

Special Attention

      21.0        21.8   
  

 

 

    

 

 

  

Non Performing Loans

      39.0        45.4   
  

 

 

    

 

 

  

Total loans

      13,685.0        13,014.6   
  

 

 

    

 

 

  

Non Performing Loans / Total loans

      0.28 %      0.34 % 

MUTB Non-consolidated: Trust Account

 

     
     (in billions of yen)  
     As of
December 31, 2015		     As of
March 31, 2015		  

Bankrupt or De facto Bankrupt

      0.0        0.0   

Doubtful

      0.1        0.1   

Special Attention

      0.5        0.7   
  

 

 

    

 

 

  

Non Performing Loans

      0.6        0.9   
  

 

 

    

 

 

  

Total loans

      23.9        27.0   
  

 

 

    

 

 

  

Non Performing Loans / Total loans

      2.65 %      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 December 31, 2015      As of March 31, 2015  
     Amount on
consolidated
balance sheet		      Differences      Amount on
consolidated
balance sheet		      Differences  

Debt securities being held to maturity

      4,003.1         60.9         4,133.6         53.7   
     (in billions of yen)  
     As of December 31, 2015      As of March 31, 2015  
     Amount on
consolidated
balance sheet		      Differences      Amount on
consolidated
balance sheet		      Differences  

Other securities

      60,760.9         3,491.2         69,336.2         4,133.2   

Domestic equity securities

      5,714.2         2,977.0         5,721.3         2,930.0   

Domestic bonds

      28,150.5         361.2         36,520.2         326.3   

Other

      26,896.1         152.9         27,094.6         876.8   

Foreign equity securities

      132.6         2.4         191.4         58.4   

Foreign bonds

      23,144.8         127.5         22,564.9         597.3   

Other

      3,618.6         23.0         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 December 31, 2015     As of March 31, 2015  
     Amount on
balance sheet		      Differences     Amount on
balance sheet		      Differences  

Debt securities being held to maturity

      2,754.8         37.7        3,102.2         37.8   

Stocks of subsidiaries and affiliates

      843.4         (141.7 )      865.6         206.0   
     (in billions of yen)  
     As of December 31, 2015     As of March 31, 2015  
     Amount on
balance sheet		      Differences     Amount on
balance sheet		      Differences  

Other securities

      41,431.7         2,590.7        48,785.0         3,073.2   

Domestic equity securities

      4,654.1         2,310.7        4,673.9         2,291.3   

Domestic bonds

      22,313.0         305.6        29,967.1         275.0   

Other

      14,464.5         (25.6 )      14,143.9         506.7   

Foreign equity securities

      123.0         (2.9 )      178.5         53.5   

Foreign bonds

      11,923.5         19.4        10,872.2         352.5   

Other

      2,418.0         (42.1 )      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 December 31, 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   

Stocks of subsidiaries and affiliates

      57.7         66.4         57.7         133.9   
     (in billions of yen)  
     As of December 31, 2015      As of March 31, 2015  
     Amount on
balance sheet		      Differences      Amount on
balance sheet		      Differences  

Other securities

      15,888.7         821.1         16,903.4         966.8   

Domestic equity securities

      1,113.6         599.1         1,081.8         556.0   

Domestic bonds

      5,864.0         54.7         6,479.4         50.3   

Other

      8,911.1         167.1         9,342.1         360.4   

Foreign equity securities

      0.0         0.0         0.0         0.0   

Foreign bonds

      8,144.8         103.2         8,455.7         243.3   

Other

      766.2         63.9         886.3         117.0   

 

8

Mitsubishi UFJ Financial Group, Inc.

4. ROE

MUFG Consolidated

 

      (%)  
      For the nine months
ended
December 31, 2015		      For the nine months
ended
December 31, 2014		  

ROE

      9.16         10.68   

 

Note:

      
ROE is computed as follows:   
(profits attributable to owners of parent × 4/3) - 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 nine months
ended
December 31, 2015		      For the nine months
ended
December 31, 2014		  

Average interest rate on loans and bills discounted

      0.89         0.99   

Average interest rate on deposits and NCD

      0.04         0.04   

Interest rate spread

      0.85         0.94   

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

    (percentage per annum)  

Average interest rate on loans and bills discounted

      1.04         1.13   

Interest rate spread

      1.00         1.08   

BTMU Non-consolidated

(Domestic business segment)

 

     (percentage per annum)  
      For the nine months
ended
December 31, 2015		      For the nine months
ended
December 31, 2014		  

Average interest rate on loans and bills discounted

      0.93         1.03   

Average interest rate on deposits and NCD

      0.03         0.03   

Interest rate spread

      0.90         1.00   

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

    (percentage per annum)  

Average interest rate on loans and bills discounted

      1.12         1.21   

Interest rate spread

      1.09         1.17   

MUTB Non-consolidated

(Domestic business segment)

 

     (percentage per annum)  
      For the nine months
ended
December 31, 2015		      For the nine months
ended
December 31, 2014		  

Average interest rate on loans and bills discounted

      0.67         0.76   

Average interest rate on deposits and NCD

      0.13         0.13   

Interest rate spread

      0.54         0.62   

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

    (percentage per annum)  

Average interest rate on loans and bills discounted

      0.67         0.76   

Interest rate spread

      0.54         0.62   

 

10

Mitsubishi UFJ Financial Group, Inc.

6. Loans and Deposits

BTMU and MUTB Combined

 

      (in billions of yen)  
      As of
December 31, 2015		      As of
March 31, 2015		  

Deposits (ending balance)

      141,051.9         137,332.3   

Deposits (average balance)

      138,161.4         132,006.8   

Loans (ending balance)

      100,121.1         95,350.2   

Loans (average balance)

      97,918.6         94,794.2   
     (in billions of yen)  
      As of
December 31, 2015		      As of
March 31, 2015		  

Domestic deposits (ending balance)*

      118,248.2         117,864.3   

Individuals

      71,916.5         70,415.1   

Note:

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

BTMU Non-consolidated

 

      (in billions of yen)  
      As of
December 31, 2015		      As of
March 31, 2015		  

Deposits (ending balance)

      128,205.3         124,590.9   

Deposits (average balance)

      125,379.3         119,381.2   

Loans (ending balance)

      86,887.8         82,740.3   

Loans (average balance)

      85,164.2         82,699.4   
     (in billions of yen)  
      As of
December 31, 2015		      As of
March 31, 2015		  

Domestic deposits (ending balance)*

      106,867.6         106,458.7   

Individuals

      63,959.7         62,194.0   

Note:

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

MUTB Non-consolidated

 

                                     
      (in billions of yen)  
      As of
December 31, 2015		      As of
March 31, 2015		  

Deposits (ending balance)

      12,846.6         12,741.4   

Deposits (average balance)

      12,782.1         12,625.6   

Loans (ending balance)

      13,233.2         12,609.8   

Loans (average balance)

      12,754.3         12,094.8   
     (in billions of yen)  
      As of
December 31, 2015		      As of
March 31, 2015		  

Domestic deposits (ending balance)*

      11,380.6         11,405.5   

Individuals

      7,956.7         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
December 31, 2015		  

Assets:

      

Loans and bills discounted

      112.3         139.2   

Securities

      58,086.9         52,912.2   

Beneficiary rights to the trust

      49,353.2         59,527.1   

Securities held in custody accounts

      3,172.3         3,696.4   

Monetary claims

      10,619.0         9,731.6   

Tangible fixed assets

      10,805.0         11,339.0   

Intangible fixed assets

      192.5         198.7   

Other claims

      5,040.4         5,623.8   

Call loans

      2,307.4         2,395.1   

Due from banking account

      3,184.7         2,469.4   

Cash and due from banks

      3,449.1         3,893.7   
  

 

 

     

 

 

  

Total

      146,323.3         151,926.8   
  

 

 

     

 

 

  

Liabilities:

      

Money trusts

      23,452.5         19,873.4   

Pension trusts

      15,360.6         14,868.2   

Property formation benefit trusts

      8.3         7.8   

Investment trusts

      48,930.3         59,153.3   

Money entrusted other than money trusts

      3,218.8         3,641.4   

Securities trusts

      5,066.0         5,735.3   

Monetary claim trusts

      10,266.6         9,276.7   

Equipment trusts

      44.4         59.3   

Land and fixtures trusts

      82.3         68.2   

Composite trusts

      39,893.1         39,242.7   
  

 

 

     

 

 

  

Total

      146,323.3         151,926.8   
  

 

 

     

 

 

  

 

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 December 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 December 2015 was ¥3.17 trillion in total, a decrease of ¥0.22 trillion from the balance as of the end of March 2015, mainly due to a decrease in CLOs.

 

(2) Net unrealized losses were ¥22 billion, worsened by ¥19 billion compared to the end of March 2015.

 

(3) P/L impact for the quarter ended December 31, 2015 was small, an increase of ¥0.2 billion.

 

      (¥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

      18         (3 )      0        (4 )      0         0   

Sub-prime RMBS

      0         0        0        0        0         0   

CMBS

      399         (7 )      (6 )      (9 )      210         (4 ) 

CLOs

      2,702         (176 )      (17 )      (4 )      1,634         (9 ) 

Other securitized products (card, etc.)

      54         (32 )      1        (2 )      18         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

      3,173         (217 )      (22 )      (19 )      1,862         (13 ) 
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

 

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 88% of our investments in securitized products as of the end of December 2015, an increase of 1 percentage point 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 in an increase in the ratio.

 

(2) AAA and AA-rated products accounted for 99% of our investments in securitized products.

 

     (¥bn)  
     AAA     AA     A     BBB     BB or
lower		     Unrated     Total  

RMBS

      4        1        0        9        4        0        18   

Sub-prime RMBS

      0        0        0        0        0        0        0   

CMBS

      159        240        0        0        0        0        399   

CLOs

      2,588        76        35        3        0        0        2,702   

Other securitized products (card, etc.)

      28        24        0        1        0        2        54   

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

      2,778        340        36        12        5        2        3,173   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Percentage of total

      88 %      11 %      1 %      0 %      0 %      0 %      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 December 2015.

 

     (¥bn)  
     Americas      Europe      Asia      Japan      Total      Change from
end of March
2015		  
LBO Loan3 (Balance on a commitment basis)      7         149         0         408         564         90   

Balance on a booking basis

      7         123         0         379         509         103   

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 December 2015 was ¥4.81 trillion (including ¥2.60 trillion in overseas).

 

(3) The purchased assets are mainly receivables.

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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