FORM 6-K

6-K 1 d199267d6k.htm FORM 6-K FORM 6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

Report of Foreign Private Issuer

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

the Securities Exchange Act of 1934

For the month of August 2021

Commission File No. 000-54189

MITSUBISHI UFJ FINANCIAL GROUP, INC.

(Translation of registrant’s name into English)

7-1, Marunouchi 2-chome, Chiyoda-ku

Tokyo 100-8330, Japan

(Address of principal executive office)

Indicate by check mark whether the registrant files or

will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F X Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K

in paper as permitted by Regulation S-T Rule 101(b)(1):

Indicate by check mark if the registrant is submitting the Form 6-K

in paper as permitted by Regulation S-T Rule 101(b)(7):

THIS REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE IN THE REGISTRATION STATEMENT ON FORM F-3 (NO. 333-242048) OF MITSUBISHI UFJ FINANCIAL GROUP, INC. AND TO BE A PART THEREOF FROM THE DATE ON WHICH THIS REPORT IS FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED WITH OR FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION.

SIGNATURES

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

Date: August 2, 2021


Mitsubishi UFJ Financial Group, Inc.

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

LOGO

Consolidated Summary Report

<under Japanese GAAP>

for the three months ended June 30, 2021

August 2, 2021


Company name:		Mitsubishi UFJ Financial Group, Inc.
Stock exchange listings:		Tokyo, Nagoya, New York
Code number:		8306
URL		https://www.mufg.jp/
Representative:		Hironori Kamezawa, President & Group CEO
For inquiry:		Masahisa Takahashi, Managing Director, Head of Financial Accounting Office, Financial Planning Division
		TEL (03) 5218-8890
Quarterly securities report issuing date:		August 13, 2021
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, 2021

(1)	Results of Operations


	(% represents the change from the same period in the previous fiscal year)
	Ordinary Income					Ordinary Profits					Profits Attributable to Owners of Parent
	million yen		%			million yen		%			million yen		%
For the three months ended
June 30, 2021		1,503,727		(11.4	)		460,323		65.7			383,082		108.8
June 30, 2020		1,697,631		(5.8	)		277,753		(38.4	)		183,492		(52.9	)

(*)	Comprehensive income

June 30, 2021: 770,361 million yen, 116.8 % ; June 30, 2020: 355,401 million yen, (30.1) %


	Basic earnings per share		Diluted earnings per share
	yen		yen
For the three months ended
June 30, 2021		29.84		29.75
June 30, 2020		14.29		14.25

(2)	Financial Conditions


	Total Assets		Total Net Assets		Equity-to-asset ratio (*)
	million yen		million yen		%
As of
June 30, 2021		362,061,176		18,303,291		4.8
March 31, 2021		359,473,515		17,716,257		4.7

(Reference) Shareholders’ equity as of June 30, 2021: 17,368,190 million yen; March 31, 2021: 16,802,572 million yen

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

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

2. Dividends on Common Stock


	Dividends per Share
	1st quarter-end		2nd quarter-end		3rd quarter-end		Fiscal year-end		Total
	yen		yen		yen		yen		yen
For the fiscal year
ended March 31, 2021		—		12.50		—		12.50		25.00
ending March 31, 2022		—
ending March 31, 2022 (Forecast)				13.50		—		13.50		27.00

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

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

MUFG has the target of 850.0 billion yen of profits attributable to owners of parent for the fiscal year ending March 31, 2022. (There is no change to our earnings target released on May 17, 2021.)

MUFG is engaged in financial service businesses such as banking business, trust banking business, securities business and credit card/loan businesses. Because there are various uncertainties caused by economic situation, market environments and other factors in these businesses, MUFG discloses a target of its profits attributable to owners of parent instead of a forecast of its performance.

ø Notes

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

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

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

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

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

(D) Restatements: No

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


(A) Total stocks outstanding including treasury stocks:	June 30, 2021	13,581,995,120 shares
	March 31, 2021	13,581,995,120 shares
(B) Treasury stocks:	June 30, 2021	748,069,053 shares
	March 31, 2021	737,192,810 shares
(C) Average outstanding stocks:	Three months ended June 30, 2021	12,839,240,666 shares
	Three months ended June 30, 2020	12,840,897,893 shares

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

ø Notes for using forecasted information etc.

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

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

Mitsubishi UFJ Financial Group, Inc.

(Appendix)

Contents of Appendix


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

Supplemental Information:

“Selected Financial Information under Japanese GAAP For the Three Months Ended June 30, 2021”

Mitsubishi UFJ Financial Group, Inc.

1. Consolidated Financial Statements and Notes

(1) Consolidated Balance Sheets


(in millions of yen)	As of March 31, 2021			As of June 30, 2021
Assets:
Cash and due from banks		102,980,711			108,263,514
Call loans and bills bought		730,506			593,519
Receivables under resale agreements		13,942,910			12,509,479
Receivables under securities borrowing transactions		3,394,376			2,773,564
Monetary claims bought		5,982,876			5,973,030
Trading assets		20,552,367			20,252,931
Money held in trust		1,283,179			1,271,140
Securities		77,122,074			79,730,962
Loans and bills discounted		107,183,069			104,834,607
Foreign exchanges		1,915,010			1,965,393
Other assets		12,406,158			11,546,577
Tangible fixed assets		1,296,402			1,286,961
Intangible fixed assets		1,436,098			1,463,661
Net defined benefit assets		1,210,577			1,242,556
Deferred tax assets		137,988			162,464
Customers’ liabilities for acceptances and guarantees		9,004,749			9,259,805
Allowance for credit losses		(1,105,541	)		(1,068,995	)

Total assets		359,473,515			362,061,176

Liabilities:
Deposits		211,521,257			213,851,593
Negotiable certificates of deposit		8,099,119			8,907,698
Call money and bills sold		2,330,808			2,118,364
Payables under repurchase agreements		24,483,519			26,543,816
Payables under securities lending transactions		836,351			564,483
Commercial papers		1,810,350			1,508,196
Trading liabilities		14,002,667			13,105,750
Borrowed money		31,110,465			30,850,491
Foreign exchanges		2,105,245			2,078,187
Short-term bonds payable		1,043,001			978,001
Bonds payable		12,908,505			12,919,495
Due to trust accounts		11,208,570			10,735,881
Other liabilities		9,754,731			8,809,275
Reserve for bonuses		118,358			55,964
Reserve for bonuses to directors		1,816			896
Reserve for stocks payment		10,915			11,012
Net defined benefit liabilities		88,914			91,595
Reserve for retirement benefits to directors		872			719
Reserve for loyalty award credits		18,312			18,860
Reserve for contingent losses		183,855			171,358
Reserves under special laws		4,642			4,642
Deferred tax liabilities		1,008,650			1,072,068
Deferred tax liabilities for land revaluation		101,577			99,723
Acceptances and guarantees		9,004,749			9,259,805

Total liabilities		341,757,258			343,757,885

Mitsubishi UFJ Financial Group, Inc.


(in millions of yen)	As of March 31, 2021			As of June 30, 2021
Net assets:
Capital stock		2,141,513			2,141,513
Capital surplus		977,287			977,287
Retained earnings		11,200,087			11,419,329
Treasury stock		(502,794	)		(509,730	)

Total shareholders’ equity		13,816,094			14,028,399

Net unrealized gains (losses) on available-for-sale securities		2,583,417			2,544,261
Net deferred gains (losses) on hedging instruments		131,566			170,711
Land revaluation excess		149,183			145,488
Foreign currency translation adjustments		9,953			373,640
Remeasurements of defined benefit plans		163,189			154,838
Debt value adjustments of foreign subsidiaries and affiliates		(50,832	)		(49,148	)

Total accumulated other comprehensive income		2,986,478			3,339,790

Non-controlling interests		913,684			935,101

Total net assets		17,716,257			18,303,291

Total liabilities and net assets		359,473,515			362,061,176

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, 2020			For the three months ended June 30, 2021
Ordinary income		1,697,631			1,503,727
Interest income		764,995			632,043
Interest on loans and bills discounted		508,898			406,219
Interest and dividends on securities		113,704			135,153
Trust fees		36,796			35,508
Fees and commissions		348,711			406,998
Trading income		115,423			93,724
Other operating income		330,146			90,667
Other ordinary income		101,558			244,785
Ordinary expenses		1,419,877			1,043,403
Interest expenses		295,994			135,143
Interest on deposits		93,811			49,095
Fees and commissions		72,823			77,203
Trading expenses		—			39,386
Other operating expenses		166,480			50,126
General and administrative expenses		671,620			671,518
Other ordinary expenses		212,958			70,025

Ordinary profits		277,753			460,323

Extraordinary gains		8,927			65,997
Gains on disposition of fixed assets		8,927			9,473
Gains on change in equity		—			56,524
Extraordinary losses		22,845			29,550
Losses on disposition of fixed assets		1,643			2,410
Losses on impairment of fixed assets		4,512			7,482
Provision for reserve for contingent liabilities from financial intruments transactions		108			—
Losses on change in equity		16,580			19,657

Profits before income taxes		263,836			496,770

Income taxes-current		95,641			62,948
Income taxes-deferred		(32,760	)		30,830

Total taxes		62,881			93,779

Profits		200,954			402,991

Profits attributable to non-controlling interests		17,462			19,909

Profits attributable to owners of parent		183,492			383,082

Mitsubishi UFJ Financial Group, Inc.

Consolidated Statements of Comprehensive Income


(in millions of yen)	For the three months ended June 30, 2020			For the three months ended June 30, 2021
Profits		200,954			402,991
Other comprehensive income
Net unrealized gains (losses) on available-for-sale securities		278,183			(18,698	)
Net deferred gains (losses) on hedging instruments		16,602			37,094
Foreign currency translation adjustments		(252,646	)		251,347
Remeasurements of defined benefit plans		5,443			(8,812	)
Share of other comprehensive income of associates accounted for using equity method		106,863			106,439

Total other comprehensive income		154,446			367,369

Comprehensive income		355,401			770,361

(Comprehensive income attributable to)
Comprehensive income attributable to owners of parent		364,293			740,089
Comprehensive income attributable to non-controlling interests		(8,891	)		30,271

Mitsubishi UFJ Financial Group, Inc.

(3) Notes on Going-Concern Assumption

None.

(4) Notes for Material Changes in Shareholders’ Equity

None.

(5) Changes in Accounting Policies

(Accounting Standard for Revenue Recognition)

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

In accordance with the transitional measures set forth in the proviso in paragraph 84 of the Accounting Standard for Revenue Recognition, the cumulative effect of retroactively applying the new accounting policy to reporting periods prior to the beginning of the three months ended June 30, 2021 was recognized as adjustments to retained earnings at the beginning of the three months ended June 30, 2021, and the new accounting policy is applied from the beginning of the three months ended June 30, 2021 as a change in MUFG’s accounting policies. However, due to application of the method set forth in paragraph 86 of the Accounting Standard for Revenue Recognition, the new accounting policy was not retroactively applied to a contract for which substantially all of the revenue had been recognized in accordance with the previous accounting treatment prior to the beginning of the three months ended June 30, 2021.

As a result, at the beginning of the three months ended June 30, 2021, retained earnings decreased by ¥6,617 million. The impact on each of fees and commissions income, ordinary profits and profits before income taxes for the three months ended June 30, 2021 is not significant.

In accordance with the transitional measures set forth in paragraph 28-15 of ASBJ Statement No.12, “Accounting Standard for Quarterly Financial Reporting” (ASBJ, March 31, 2020) information on breakdowns of revenues from contracts with customers for the three months ended June 30, 2020 is not disclosed.

(6) Changes in Presentation of Financial Information

From the beginning of the three months ended June 30, 2021, expenses related to credit cards, which were previously recorded as general and administrative expenses, are recorded as fees and commissions expenses.

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

In order to reflect this change in the presentation of the financial information, the consolidated financial statements for the three months ended June 30, 2020, have been retroactively restated.

As a result, fees and commissions expenses of ¥55,757 million and general and administrative expenses of ¥688,686 million previously presented in the consolidated statement of income for the three months ended June 30, 2020 have been restated, resulting in the current presentation of fees and commissions expenses of ¥72,823 million and general and administrative expenses of ¥671,620 million.

Mitsubishi UFJ Financial Group, Inc.

(7) Additional Information

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

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

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

When calculating allowance for credit losses, the Bank, our principal consolidated domestic banking subsidiary, determines expected loss rates primarily by calculating a rate of loss based on a historical average of the credit loss rate or a historical average of the default probability derived from actual credit loss experience or actual bankruptcy experience and making necessary adjustments based on future projections and other factors. When making adjustments based on future loss projections and other factors to loss rates calculated based on historical loss experience, the subsidiary takes into account the rate of increase in the credit loss rate or the default probability in a more recent period, especially in light of the deterioration in the economic environment under the COVID-19 pandemic. The amount of impact of these adjustments was ¥24,570 million for the three months ended June 30, 2021(¥30,846 million for the fiscal year ended March 31, 2021).

In addition, certain overseas subsidiaries which apply Generally Accepted Accounting Principles in the United States (“U.S. GAAP”) have adopted Adoption of U.S. Accounting Standards Update (“ASU”) 2016-13, “Measurement of Credit Losses on Financial Instruments,” and provide for allowance for credit losses by estimating credit losses currently expected for the remaining term of the relevant contracts. Expected credit losses are calculated using a quantitative model that reflects economic forecast scenarios based on macroeconomic variables. The calculation process includes selection of multiple economic forecast scenarios and determination of the values of the macroeconomic variables used in such economic forecast scenarios and the weightings applied to each economic forecast scenario. Expected credit losses are adjusted for qualitative factors to compensate for expected credit losses that are not reflected in a quantitative model.

Significant assumptions used in our calculation of allowance for credit losses, including those described above, are subject to uncertainty. In particular, certain counterparties’ prospects of improvements in their operating results and expectations as to their ability to continue as going concerns, and adjustments to the rate of loss calculated based on actual experience for future projections and other factors, as well as determination of the macroeconomic variables used in, and the weightings applied to, selected economic forecast scenarios, and adjustments thereto for qualitative factors, by certain subsidiaries which apply U.S. GAAP, are based on estimation relating to the economic environment, including the outlook relating to the COVID-19 pandemic, with respect to which objective data are not readily available. The outlook relating to the COVID-19 pandemic, which is expected to further impact our counterparties’ operating environment and the economic environment, remains subject to significant uncertainty. Accordingly, we make certain assumptions, including that the pace of future economic recovery would be generally gradual, although the pace may vary from country to country, as balancing economic activity and pandemic control continues. The recorded allowance for credit losses represents our best estimation made in a manner designed to ensure objectivity and rationality.

For the three-month period ended June 30, 2021, the assumptions for making estimates relating to allowance for credit losses remained substantially unchanged because the observable changes subsequent to the end of the previous fiscal year in the factors and circumstances underlying the assumptions were not sufficiently significant to cause such change in the assumptions. However, these assumptions are highly uncertain, and significant additional provision for credit losses may be recognized for the six-month period ending September 30, 2021 and subsequent reporting periods due to developments affecting the impact of the COVID-19 pandemic on the financial performance of counterparties or on the economic environment.

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

Major overseas subsidiaries which were consolidated based on their financial statements as of and for the quarter ended March 31, 2021 adopted ASU 2016-13, “Measurement of Credit Losses on Financial Instruments,” the new guidance that introduced the concept of current expected credit loss, as of the beginning of the first quarter of the fiscal year ending December 31, 2020. As a result, these subsidiaries record provision for allowance for credit losses by taking into account certain forecasted information such as macroeconomic indicators.

Under the new guidance, it is currently estimated that the subsidiaries’ total credit costs for the quarter ended June 30, 2021 will be approximately ¥20 billion in total. The subsidiaries’ total credit costs will be reflected in MUFG’s consolidated financial statements as of and for the quarter ending September 30, 2021.

The definition of total credit costs is described in “1. Financial Results” of “Selected Financial Information under Japanese GAAP For the Three Months Ended June 30, 2021”.

Selected Financial Information

under Japanese GAAP

For the Three Months Ended June 30, 2021


Mitsubishi UFJ Financial Group, Inc.

Mitsubishi UFJ Financial Group, Inc.

[Contents]


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

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

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

4. ROE	[MUFG Consolidated]	9

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

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

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

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

(*2)	“BK” means MUFG Bank, Ltd.

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

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

Mitsubishi UFJ Financial Group, Inc.

1. Financial Results

MUFG Consolidated


	(in millions of yen)
	For the three months ended						Increase (Decrease) (A) - (B)
	June 30, 2021 (A)			June 30, 2020 (B)			Increase (Decrease) (A) - (B)
Gross profits		957,131			1,060,824			(103,693	)
Gross profits before credit costs for trust accounts		957,131			1,060,824			(103,693	)
Net interest income		496,949			469,051			27,898
Trust fees		35,508			36,796			(1,288	)
Credit costs for trust accounts (1)		—			—			—
Net fees and commissions		329,795			275,887			53,907
Net trading profits		54,337			115,423			(61,086	)
Net other operating profits		40,540			163,665			(123,125	)
Net gains (losses) on debt securities		38,777			165,925			(127,148	)
General and administrative expenses		673,678			661,717			11,960
Amortization of goodwill		4,486			3,864			621
Net operating profits before credit costs for trust accounts, provision for general allowance for credit losses and amortization of goodwill		287,938			402,971			(115,032	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		283,452			399,106			(115,654	)
Provision for general allowance for credit losses (2)		—			(53,060	)		53,060
Net operating profits*¹		283,452			346,046			(62,593	)
Net non-recurring gains (losses)		176,871			(68,292	)		245,163
Credit costs (3)		(34,696	)		(106,616	)		71,919
Losses on loan write-offs		(32,323	)		(40,372	)		8,049
Provision for specific allowance for credit losses		—			(60,501	)		60,501
Other credit costs		(2,373	)		(5,742	)		3,368
Reversal of allowance for credit losses (4)		8,339			—			8,339
Reversal of reserve for contingent losses included in credit costs (5)		—			—			—
Gains on loans written-off (6)		21,213			14,632			6,581
Net gains (losses) on equity securities		66,049			6,001			60,047
Gains on sales of equity securities		76,049			17,523			58,526
Losses on sales of equity securities		(6,836	)		(8,028	)		1,192
Losses on write-down of equity securities		(3,163	)		(3,493	)		329
Equity in earnings of equity method investees		119,475			56,652			62,822
Other non-recurring gains (losses)		(3,509	)		(38,963	)		35,453

Ordinary profits		460,323			277,753			182,570

Net extraordinary gains (losses)		36,446			(13,917	)		50,364
Net gains (losses) on disposition of fixed assets		7,062			7,284			(221	)
Losses on impairment of fixed assets		(7,482	)		(4,512	)		(2,970	)
Net gains (losses) on change in equity		36,867			(16,580	)		53,448
Profits before income taxes		496,770			263,836			232,934
Income taxes-current		62,948			95,641			(32,692	)
Income taxes-deferred		30,830			(32,760	)		63,590
Total taxes		93,779			62,881			30,898
Profits		402,991			200,954			202,036
Profits attributable to non-controlling interests		19,909			17,462			2,446

Profits attributable to owners of parent		383,082			183,492			199,589

Note:
1. Net operating profits = Banking subsidiaries’ net operating profits + Other consolidated entities’ gross profits - Other consolidated entities’ general and administrative expenses - Other consolidated entities’ provision for general allowance for credit losses - Amortization of goodwill - Inter-company transactions 2. From the beginning of the three months ended June 30, 2021, expenses related to credit cards, which were previously recorded as general and administrative expenses, are recorded as fees and commissions expenses. Accordingly, the financial information for the three months ended June 30, 2020 have been retroactively restated.

(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		(5,143	)		(145,044	)		139,900

Mitsubishi UFJ Financial Group, Inc.

BK and TB Combined


	(in millions of yen)
	For the three months ended						Increase (Decrease) (A) - (B)
	June 30, 2021 (A)			June 30, 2020 (B)			Increase (Decrease) (A) - (B)
Gross profits		498,226			594,891			(96,664	)
Gross profits before credit costs for trust accounts		498,226			594,891			(96,664	)
Net interest income		306,538			249,486			57,051
Trust fees		28,893			30,048			(1,154	)
Credit costs for trust accounts (1)		—			—			—
Net fees and commissions		112,839			102,745			10,094
Net trading profits		16,237			45,570			(29,332	)
Net other operating profits		33,717			167,041			(133,323	)
Net gains (losses) on debt securities		36,099			158,051			(121,951	)
General and administrative expenses		326,406			336,480			(10,074	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		171,820			258,411			(86,590	)
Provision for general allowance for credit losses (2)		—			(6,298	)		6,298
Net operating profits		171,820			252,112			(80,291	)
Net non-recurring gains (losses)		87,890			(55,079	)		142,969
Credit costs (3)		(6,557	)		(33,451	)		26,894
Losses on loan write-offs		(5,374	)		(7,143	)		1,769
Provision for specific allowance for credit losses		—			(23,686	)		23,686
Other credit costs		(1,182	)		(2,621	)		1,438
Reversal of allowance for credit losses (4)		21,806			—			21,806
Reversal of reserve for contingent losses included in credit costs (5)		—			85			(85	)
Gains on loans written-off (6)		3,909			1,210			2,699
Net gains (losses) on equity securities		63,740			3,225			60,514
Gains on sales of equity securities		73,935			16,028			57,907
Losses on sales of equity securities		(6,924	)		(7,922	)		998
Losses on write-down of equity securities		(3,271	)		(4,880	)		1,608
Other non-recurring gains (losses)		4,991			(26,149	)		31,141

Ordinary profits		259,710			197,033			62,677

Net extraordinary gains (losses)		1,810			9,221			(7,410	)
Income before income taxes		261,521			206,255			55,266
Income taxes-current		41,721			55,062			(13,340	)
Income taxes-deferred		16,080			(7,746	)		23,826
Total taxes		57,802			47,316			10,486

Net income		203,719			158,938			44,780


(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		19,158			(38,453	)		57,612

Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities		135,720			100,359			35,361
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities and investment trusts cancellation		107,813			104,019			3,793

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated


	(in millions of yen)
	For the three months ended						Increase (Decrease) (A) - (B)
	June 30, 2021 (A)			June 30, 2020 (B)			Increase (Decrease) (A) - (B)
Gross profits		384,460			513,714			(129,254	)
Net interest income		241,443			211,955			29,488
Net fees and commissions		89,770			83,936			5,834
Net trading profits		11,021			44,628			(33,606	)
Net other operating profits		42,223			173,194			(130,970	)
Net gains (losses) on debt securities		39,708			164,587			(124,879	)
General and administrative expenses		278,185			287,061			(8,876	)
Amortization of goodwill		387			386			1
Net operating profits before provision for general allowance for credit losses and amortization of goodwill		106,662			227,038			(120,376	)
Net operating profits before provision for general allowance for credit losses		106,274			226,652			(120,377	)
Provision for general allowance for credit losses (1)		—			(6,264	)		6,264
Net operating profits		106,274			220,387			(114,113	)
Net non-recurring gains (losses)		78,581			(52,983	)		131,565
Credit costs (2)		(6,458	)		(33,451	)		26,992
Reversal of allowance for credit losses (3)		21,748			—			21,748
Reversal of reserve for contingent losses included in credit costs (4)		—			—			—
Gains on loans written-off (5)		3,909			1,210			2,699
Net gains (losses) on equity securities		54,238			1,848			52,390
Gains on sales of equity securities		64,018			12,792			51,225
Losses on sales of equity securities		(6,903	)		(7,844	)		940
Losses on write-down of equity securities		(2,875	)		(3,099	)		224
Other non-recurring gains (losses)		5,142			(22,590	)		27,733

Ordinary profits		184,855			167,403			17,452

Net extraordinary gains (losses)		1,957			8,844			(6,887	)
Income before income taxes		186,813			176,248			10,564
Income taxes-current		34,764			55,746			(20,981	)
Income taxes-deferred		11,154			(12,307	)		23,461
Total taxes		45,918			43,439			2,479

Net income		140,894			132,809			8,085


(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)		19,199			(38,505	)		57,705
Provision for general allowance for credit losses		16,161			(6,264	)		22,426
Provision for special allowance for credit losses		7,937			(23,686	)		31,623
Allowance for credit to specific foreign borrowers		(2,349	)		37			(2,386	)
Losses on loans write-off		(5,374	)		(7,143	)		1,769
Provision for contingent losses included in credit costs		(626	)		(2,676	)		2,050
Gains on loans written-off		3,909			1,210			2,699
Losses on sales of other loans, etc.		(457	)		17			(475	)

Net operating profits before provision for general allowance for credit losses, excluding net gains (losses) on debt securities		66,566			62,064			4,501
Net operating profits before provision for general allowance for credit losses, excluding net gains (losses) on debt securities and investment trusts cancellation		40,417			62,168			(21,750	)

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated


	(in millions of yen)
	For the three months ended						Increase (Decrease) (A) - (B)
	June 30, 2021 (A)			June 30, 2020 (B)			Increase (Decrease) (A) - (B)
Gross profits		113,766			81,177			32,589
Gross profits before credit costs for trust accounts		113,766			81,177			32,589
Trust fees		28,893			30,048			(1,154	)
Credit costs for trust accounts (1)		—			—			—
Net interest income		65,094			37,530			27,563
Net fees and commissions		23,068			18,809			4,259
Net trading profits		5,216			941			4,274
Net other operating profits		(8,506	)		(6,152	)		(2,353	)
Net gains (losses) on debt securities		(3,608	)		(6,536	)		2,927
General and administrative expenses		48,220			49,418			(1,197	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		65,546			31,758			33,787
Provision for general allowance for credit losses (2)		—			(33	)		33
Net operating profits		65,546			31,725			33,821
Net non-recurring gains (losses)		9,308			(2,095	)		11,404
Credit costs (3)		(98	)		—			(98	)
Reversal of allowance for credit losses (4)		57			—			57
Reversal of reserve for contingent losses included in credit costs (5)		—			85			(85	)
Gains on loans written-off (6)		0			—			0
Net gains (losses) on equity securities		9,501			1,377			8,124
Gains on sales of equity securities		9,917			3,236			6,681
Losses on sales of equity securities		(20	)		(78	)		57
Losses on write-down of equity securities		(395	)		(1,780	)		1,384
Other non-recurring gains (losses)		(151	)		(3,558	)		3,407

Ordinary profits		74,854			29,629			45,225

Net extraordinary gains (losses)		(146	)		376			(523	)
Income before income taxes		74,708			30,006			44,702
Income taxes-current		6,957			(683	)		7,641
Income taxes-deferred		4,926			4,561			365
Total taxes		11,883			3,877			8,006

Net income		62,824			26,128			36,695


(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		(41	)		52			(93	)
Credit costs for trust accounts		—			—			—
Provision for general allowance for credit losses		1			(33	)		34
Provision for special allowance for credit losses		56			—			56
Allowance for credit to specific foreign borrowers		—			—			—
Losses on loans write-offs		—			—			—
Provision for contingent losses included in credit costs		(98	)		85			(184	)
Gains on loans written-off		0			—			0
Losses on sales of other loans, etc.		—			—			—

Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities		69,154			38,295			30,859
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities and investment trusts cancellation		67,395			41,851			25,543

Mitsubishi UFJ Financial Group, Inc.

2. Non Performing Loans Based on the Financial Reconstruction Law

BK and TB Combined including Trust Account


	(in millions of yen)
	As of June 30, 2021			As of March 31, 2021
Bankrupt or De facto Bankrupt		129,039			147,818
Doubtful		398,458			416,668
Special Attention		280,986			293,879
Non Performing Loans		808,484			858,366
Total loans		97,326,736			100,392,617
Non Performing Loans / Total loans		0.83	%		0.85	%

BK Non-consolidated


	(in millions of yen)
	As of June 30, 2021			As of March 31, 2021
Bankrupt or De facto Bankrupt		128,989			147,768
Doubtful		396,478			414,688
Special Attention		280,986			293,879
Non Performing Loans		806,453			856,336
Total loans		94,398,564			96,949,512
Non Performing Loans / Total loans		0.85	%		0.88	%

TB Non-consolidated


	(in millions of yen)
	As of June 30, 2021			As of March 31, 2021
Bankrupt or De facto Bankrupt		50			50
Doubtful		1,978			1,978
Special Attention		—			—
Non Performing Loans		2,028			2,028
Total loans		2,922,703			3,437,052
Non Performing Loans / Total loans		0.06	%		0.05	%

TB Non-consolidated: Trust Account


	(in millions of yen)
	As of June 30, 2021			As of March 31, 2021
Bankrupt or De facto Bankrupt		—			—
Doubtful		2			2
Special Attention		—			—
Non Performing Loans		2			2
Total loans		5,467			6,051
Non Performing Loans / Total loans		0.04	%		0.03	%

Mitsubishi UFJ Financial Group, Inc.

3. Securities

MUFG Consolidated

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

(in millions of yen)

As of June 30, 2021

As of March 31, 2021

Amount on
consolidated
balance sheet

Unrealized
gains (losses)

Amount on
consolidated
balance sheet

Unrealized
gains (losses)

Debt securities being held to maturity

4,215,021

33,103

3,903,764

35,380

(in millions of yen)

As of June 30, 2021

As of March 31, 2021

Amount on
consolidated
balance sheet

Unrealized
gains (losses)

Amount on
consolidated
balance sheet

Unrealized
gains (losses)

Available-for-sale securities

75,859,443

3,732,360

73,892,007

3,749,919

Domestic equity securities

5,190,054

3,345,172

5,216,386

3,350,537

Domestic bonds

41,413,791

134,001

40,552,270

122,506

Other

29,255,597

253,187

28,123,350

276,874

Foreign equity securities

118,089

51,297

86,025

21,102

Foreign bonds

23,050,958

87,503

21,236,699

103,001

Other

6,086,549

114,385

6,800,625

152,770

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

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

(in millions of yen)

As of June 30, 2021

As of March 31, 2021

Amount on
balance sheet

Unrealized
gains (losses)

Amount on
balance sheet

Unrealized
gains (losses)

Debt securities being held to maturity

1,718,706

20,946

1,785,106

14,751

Stocks of subsidiaries and affiliates

625,594

379,892

625,594

527,522

(in millions of yen)

As of June 30, 2021

As of March 31, 2021

Amount on
balance sheet

Unrealized
gains (losses)

Amount on
balance sheet

Unrealized
gains (losses)

Available-for-sale securities

57,510,416

2,735,542

57,463,835

2,711,253

Domestic equity securities

4,302,341

2,707,630

4,320,383

2,703,898

Domestic bonds

38,832,238

125,892

38,401,935

119,605

Other

14,375,836

(97,980

)

14,741,516

(112,250

)

Foreign equity securities

91,482

43,631

61,701

14,126

Foreign bonds

11,270,942

(140,885

)

11,001,832

(179,648

)

Other

3,013,411

(726

)

3,677,982

53,270

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

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

(in millions of yen)

As of June 30, 2021

As of March 31, 2021

Amount on
balance sheet

Unrealized
gains (losses)

Amount on
balance sheet

Unrealized
gains (losses)

Debt securities being held to maturity

1,497,094

13,085

1,259,698

(1,968

)

Stocks of subsidiaries and affiliates

66,545

1,435

67,814

2,389

(in millions of yen)

As of June 30, 2021

As of March 31, 2021

Amount on
balance sheet

Unrealized
gains (losses)

Amount on
balance sheet

Unrealized
gains (losses)

Available-for-sale securities

12,421,059

882,828

11,016,988

853,279

Domestic equity securities

925,115

583,131

939,291

595,246

Domestic bonds

2,563,573

9,733

2,136,137

2,797

Other

8,932,370

289,963

7,941,559

255,235

Foreign equity securities

Foreign bonds

7,191,955

184,216

6,262,308

166,399

Other

1,740,355

105,703

1,679,194

88,794

Mitsubishi UFJ Financial Group, Inc.

4. ROE

MUFG Consolidated


	(%)
	For the three months ended June 30, 2021		For the three months ended June 30, 2020
ROE		10.85		5.39

Note:

ROE is computed as follows:

Profits attributable to owners of parent × 4

×100

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

Mitsubishi UFJ Financial Group, Inc.

5. Average Interest Rate Spread

BK and TB Combined


	(percentage per annum)
(Domestic business segment)	For the three months ended June 30, 2021		For the three months ended June 30, 2020
Average interest rate on loans and bills discounted		0.71		0.71
Average interest rate on deposits and NCD		0.00		0.00
Interest rate spread		0.71		0.70

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

BK Non-consolidated

	(percentage per annum)
(Domestic business segment)	For the three months ended June 30, 2021		For the three months ended June 30, 2020
Average interest rate on loans and bills discounted		0.73		0.73
Average interest rate on deposits and NCD		0.00		0.00
Interest rate spread		0.73		0.72

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

TB Non-consolidated

	(percentage per annum)
(Domestic business segment)	For the three months ended June 30, 2021		For the three months ended June 30, 2020
Average interest rate on loans and bills discounted		0.36		0.31
Average interest rate on deposits and NCD		0.02		0.03
Interest rate spread		0.34		0.28

(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted		0.66		0.63
Interest rate spread		0.64		0.60

Mitsubishi UFJ Financial Group, Inc.

6. Loans and Deposits

BK and TB Combined


	(in millions of yen)
	As of June 30, 2021		As of March 31, 2021
Deposits (ending balance)		192,067,320		193,113,145
Deposits (average balance)		196,180,029		185,829,055
Loans (ending balance)		88,612,421		91,736,843
Loans (average balance)		91,079,896		95,408,988

	(in millions of yen)
	As of June 30, 2021		As of March 31, 2021
Domestic deposits (ending balance)*		165,273,706		165,816,616
Individuals		86,127,037		84,848,585

Note:

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

BK Non-consolidated


	(in millions of yen)
	As of June 30, 2021		As of March 31, 2021
Deposits (ending balance)		181,241,830		182,239,930
Deposits (average balance)		185,197,764		174,690,226
Loans (ending balance)		85,821,207		88,447,036
Loans (average balance)		88,050,540		91,697,219

	(in millions of yen)
	As of June 30, 2021		As of March 31, 2021
Domestic deposits (ending balance)*		155,856,960		156,280,910
Individuals		79,681,941		78,277,523

Note:

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

TB Non-consolidated


	(in millions of yen)
	As of June 30, 2021		As of March 31, 2021
Deposits (ending balance)		10,825,489		10,873,215
Deposits (average balance)		10,982,265		11,138,829
Loans (ending balance)		2,791,213		3,289,807
Loans (average balance)		3,029,355		3,711,769

	(in millions of yen)
	As of June 30, 2021		As of March 31, 2021
Domestic deposits (ending balance)*		9,416,745		9,535,706
Individuals		6,445,096		6,571,062

Note:

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

Mitsubishi UFJ Financial Group, Inc.

7. Statements of Trust Assets and Liabilities

TB Non-consolidated

Including trust assets under service-shared co-trusteeship


(in millions of yen)	As of March 31, 2021		As of June 30, 2021
Assets:
Loans and bills discounted		413,435		437,676
Securities		59,314,971		58,764,726
Beneficiary rights to the trust		93,565,184		96,729,701
Securities held in custody accounts		3,636,243		4,029,725
Monetary claims		32,652,514		33,562,040
Tangible fixed assets		17,354,800		17,700,788
Intangible fixed assets		135,444		135,444
Other claims		3,154,313		1,607,863
Call loans		1,244,794		950,063
Due from banking account		10,043,198		8,890,777
Cash and due from banks		5,567,619		5,115,216

Total		227,082,519		227,924,022

Liabilities:
Money trusts		28,470,351		25,295,092
Pension trusts		12,004,133		12,186,378
Property formation benefit trusts		6,736		6,605
Investment trusts		98,512,832		100,585,445
Money entrusted other than money trusts		5,006,270		5,235,560
Securities trusts		5,949,600		5,934,142
Monetary claim trusts		30,677,531		30,475,388
Equipment trusts		156,727		144,368
Land and fixtures trusts		18,856		18,303
Composite trusts		46,279,479		48,042,737

Total		227,082,519		227,924,022


Note:	1.	The table shown above includes master trust assets under the service-shared co-trusteeship between TB and The Master Trust Bank of Japan, Ltd.

	2.	Trust assets and liabilities under a declaration of trust excluded from above table are 502,487 millions of yen as of March 31, 2021 and 509,587 millions of yen as of June 30, 2021, respectively.