-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, OwSUittcH+oXcWl9h/sgiaLS8w65U/MAKsrSd5QljPVg9PiL2zVUe8t/18OH7YTh 5BMFygcatu6DKcGqlMcfzA== 0001193125-03-051590.txt : 20030919 0001193125-03-051590.hdr.sgml : 20030919 20030919061239 ACCESSION NUMBER: 0001193125-03-051590 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20030919 FILED AS OF DATE: 20030919 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MITSUBISHI TOKYO FINANCIAL GROUP INC CENTRAL INDEX KEY: 0000067088 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 8880 [8880] IRS NUMBER: 000000000 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-98061-99 FILM NUMBER: 03901891 BUSINESS ADDRESS: STREET 1: 4-1 MARUNOUCHI 2-CHOME STREET 2: CHIYODA-KU CITY: TOKYO 100-6326 STATE: M0 ZIP: 00000 BUSINESS PHONE: 2125301784 MAIL ADDRESS: STREET 1: 48 WALL ST BANK OF NEW YORK STREET 2: C/O J MCSWIGGAN CITY: NEW YORK STATE: NY ZIP: 10286 FORMER COMPANY: FORMER CONFORMED NAME: BANK OF TOKYO MITSUBISHI LTD /ADR/ DATE OF NAME CHANGE: 20010402 FORMER COMPANY: FORMER CONFORMED NAME: MITSUBISHI BANK LTD /ADR/ DATE OF NAME CHANGE: 19920929 6-K 1 d6k.txt FORM 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ---------- Form 6-K Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of September, 2003 ---------- MITSUBISHI TOKYO FINANCIAL GROUP, INC. (Translation of registrant's name into English) 4-1, Marunouchi 2-chome, Chiyoda-ku Tokyo 100-6326, Japan (Address of principal executive offices) ---------- [Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.] Form 20-F __X__ Form 40-F _____ [Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.] Yes ____ No __X__ 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: September 19, 2003 MITSUBISHI TOKYO FINANCIAL GROUP, INC. By: /s/ Atsushi Inamura ------------------------------------- Name: Atsushi Inamura Title: Chief Manager, General Affairs Corporate Administration Division Consolidated Summary Report (under U.S. GAAP) for the Fiscal Year Ended March 31, 2003 Date: September 19, 2003 Company name (code number): Mitsubishi Tokyo Financial Group, Inc. (8306) (URL http://www.mtfg.co.jp) Stock exchange listings: Tokyo, Osaka, New York, London Headquarters: Tokyo Representative: Shigemitsu Miki, President & CEO For inquiry: Katsuhiko Ishizuka, Chief Manager - Financial Policy Division (Phone) +81-3-3240-8211
Consolidated financial data for the year ended March 31, 2003 (1) Operating results
(in millions of yen except per share data and percentages) ---------------------------------------------------------- For the year ended March 31, ----------------------------------------- 2003 2002 ----------- ------------ Total revenue 2,432,004 2,384,668 change from corresponding period of the previous year 2.0 % (23.9)% Income (loss) before income tax expense (benefit) 246,697 (324,233) and cumulative effect of a change in accounting principle change from corresponding period of the previous year - - Net income (loss) 203,288 (216,534) change from corresponding period of the previous year - - Basic earnings (loss) per common share - net income (loss) available to common shareholders (in yen) 33,963.40 (39,733.32) Diluted earnings (loss) per common share - net income (loss) available to common shareholders (in yen) 31,137.71 (39,733.32) Net income (loss) as a percentage of shareholders' equity 8.9 % (8.9)% Income (loss) before income tax expense (benefit) as a percentage of total assets 0.3 % (0.3)% Income (loss) before income tax expense (benefit) as a percentage of total revenue 10.1 % (13.6)%
Notes: 1. Equity in earnings (loss) of affiliates for the year ended: March 31, 2003: (11,746) million of yen March 31, 2002: (9,200) million of yen 2. Average number of shares outstanding for the year ended: March 31, 2003: (common stock) 5,617 thousands of shares (preferred stock-class 1) 81 thousands of shares (preferred stock-class 2) 100 thousands of shares March 31, 2002: (common stock) 5,555 thousands of shares (preferred stock-class 1) 81 thousands of shares (preferred stock-class 2) 100 thousands of shares
-1- (2) Financial condition
(in millions of yen except per share data and percentages) ---------------------------------------------------------- As of March 31, ---------------------------------------------------- 2003 2002 ------------------- ------------------- Total assets 96,531,713 94,365,114 Shareholders' equity 2,552,937 2,626,497 Shareholders' equity as a percentage of total assets 2.6% 2.8% Shareholders' equity per common share (in yen) 338,538.88 391,595.90 Note:
Number of shares outstanding as of: March 31, 2003: (common stock) 6,229 thousands of shares (preferred stock-class 1) 81 thousands of shares (preferred stock-class 2) 100 thousands of shares March 31, 2002: (common stock) 5,573 thousands of shares (preferred stock-class 1) 81 thousands of shares (preferred stock-class 2) 100 thousands of shares
(3) Cash flows
(in millions of yen) ---------------------------------------------------- For the year ended March 31, ---------------------------------------------------- 2003 2002 ------------------- ------------------- Net cash provided by (used in) operating activities 780,982 (922,743) Net cash used in investing activities (399,773) (546,888) Net cash provided by financing activities 2,124,608 1,508,172 Cash and cash equivalents at end of year 4,288,581 1,832,399
Formulas for computing ratios for the year ended March 31, 2003 are as follows: Basic earnings (loss) per common share - net income (loss) available to common shareholders Net income (loss ) - Total dividends for the year on preferred stock - ----------------------------------------------------------------------------------------------------------------- Average number of common stock for the year * Diluted earnings (loss) per common share - net income (loss) available to common shareholders Net income (loss) - Total dividends for the year on preferred stock +Adjustments in net income assuming dilution - ----------------------------------------------------------------------------------------------------------------------------- Average number of common stock for the year * + Number of dilutive potential common stock Net income (loss) as a percentage of shareholders' equity Net income (loss) - Total dividends for the year on preferred stock - ----------------------------------------------------------------------------------------------------------------------------- x 100 { [Shareholders' equity at beginning of the year - Number of preferred stock at beginning of the year x Issue price] + [Shareholders' equity at year end -Number of preferred stock at year end x Issue price] } / 2 Shareholders' equity per common share Shareholders' equity at year end - Number of preferred stock at year end x Issue price - ----------------------------------------------------------------------------------------------------------------- Number of common stock at year end * * excluding treasury stock and parent's common stock owned by subsidiaries - ------------------------------------------------------------------------------------------------------------------------------------ The foregoing forward-looking statements may be materially affected by regulatory developments or changes in governmental policies, laws, regulations, voluntary code of practice and interpretations, including those anticipated to be announced soon in Japan, changes in the level of Japanese stock prices, the occurrence of material new corporate bankruptcies, further developments in the Japanese or world economic environment, and other factors outside MTFG's control. These forward-looking statements are not guaranties of future performance, and actual results may differ materially. Please see our latest annual report for additional information regarding the risks in our business. - ------------------------------------------------------------------------------------------------------------------------------------
-2- Mitsubishi Tokyo Financial Group, Inc. and Subsidiaries Consolidated Balance Sheets
Increase/ As of March 31, (Decrease) (in millions of yen) 2003 (A) 2002 (B) (A) - (B) ------------ ------------- -------------- Assets: Cash and due from banks 4,288,581 1,832,399 2,456,182 Interest-earning deposits in other banks 4,009,986 4,332,180 (322,194) Call loans and funds sold 595,567 1,626,760 (1,031,193) Receivables under resale agreements 1,169,479 1,122,680 46,799 Receivables under securities borrowing transactions 1,848,124 1,953,242 (105,118) Trading account assets 8,363,383 7,497,253 866,130 Investment securities: Securities available for sale 24,364,066 23,282,816 1,081,250 Securities being held to maturity 191,132 272,163 (81,031) Other investment securities 145,431 129,498 15,933 ------------ ------------- -------------- Total investment securities 24,700,629 23,684,477 1,016,152 ------------ ------------- -------------- Loans, net of unearned income and deferred loan fees 48,465,569 50,229,725 (1,764,156) Allowance for credit losses (1,360,136) (1,735,180) 375,044 ------------ ------------- -------------- Net loans 47,105,433 48,494,545 (1,389,112) ------------ ------------- -------------- Premises and equipment - net 643,794 681,366 (37,572) Accrued interest 173,351 213,697 (40,346) Customers' acceptance liability 28,261 37,608 (9,347) Intangible assets 186,898 186,617 281 Goodwill 48,143 41,386 6,757 Deferred tax assets 1,640,046 1,120,831 519,215 Other assets 1,730,038 1,540,073 189,965 ------------ ------------- -------------- Total 96,531,713 94,365,114 2,166,599 ============ ============= ============== Liabilities and Shareholders' Equity: Deposits: Domestic offices: Non-interest-bearing 3,987,854 3,091,407 896,447 Interest-bearing 52,257,085 48,826,155 3,430,930 Overseas offices: Non-interest-bearing 2,434,297 2,166,464 267,833 Interest-bearing 8,624,442 9,575,475 (951,033) ------------ ------------- -------------- Total deposits 67,303,678 63,659,501 3,644,177 ------------ ------------- -------------- Debentures 636,060 2,269,122 (1,633,062) Call money and funds purchased 2,689,892 2,542,489 147,403 Payables under repurchase agreements 4,424,035 3,786,560 637,475 Payables under securities lending transactions 2,205,943 2,913,983 (708,040) Due to trust account 1,401,618 2,282,225 (880,607) Other short-term borrowings 2,854,028 3,318,634 (464,606) Trading account liabilities 3,603,153 2,495,768 1,107,385 Obligations to return securities received as collateral 950,138 315,538 634,600 Bank acceptances outstanding 28,261 37,608 (9,347) Accrued interest 132,655 211,010 (78,355) Long-term debt 5,159,132 5,183,841 (24,709) Other liabilities 2,590,183 2,722,338 (132,155) ------------ ------------- -------------- Total liabilities 93,978,776 91,738,617 2,240,159 ------------ ------------- -------------- Shareholders' equity: Capital stock: Preferred stock - class 1 122,100 122,100 - Preferred stock - class 2 100,000 100,000 - Common stock 984,708 873,156 111,552 Capital surplus 1,058,611 850,835 207,776 Retained earnings: Appropriated for legal reserve 237,474 236,537 937 Unappropriated 168,036 11,593 156,443 Accumulated other changes in equity from nonowner sources, net of taxes (114,790) 523,250 (638,040) ------------ ------------- -------------- Total 2,556,139 2,717,471 (161,332) Less treasury stock - at cost 3,202 90,974 (87,772) ------------ ------------- -------------- Shareholders' equity - net 2,552,937 2,626,497 (73,560) ------------ ------------- -------------- Total 96,531,713 94,365,114 2,166,599 ------------ ------------- --------------
-3- Mitsubishi Tokyo Financial Group, Inc. and Subsidiaries Consolidated Statements of Operations
Increase/ For the year ended March 31, (Decrease) (in millions of yen) 2003 (A) 2002 (B) (A) - (B) ----------- ----------- ---------- Interest income: Loans, including fees 1,047,420 1,276,821 (229,401) Deposits in other banks 72,623 159,784 (87,161) Investment securities: Interest 344,422 336,278 8,144 Dividends 47,004 63,115 (16,111) Trading account assets 12,045 15,144 (3,099) Call loans and funds sold 7,320 19,318 (11,998) Receivables under resale agreements and securities borrowing transactions 54,524 146,501 (91,977) ----------- ----------- ---------- Total 1,585,358 2,016,961 (431,603) ----------- ----------- ---------- Interest expense: Deposits 243,755 485,643 (241,888) Debentures 8,508 20,491 (11,983) Call money and funds purchased 12,708 17,853 (5,145) Payables under repurchase agreements and securities lending transactions 94,713 182,487 (87,774) Due to trust account 8,673 16,683 (8,010) Other short-term borrowings and trading account liabilities 31,320 46,567 (15,247) Long-term debt 140,240 169,339 (29,099) ----------- ----------- ---------- Total 539,917 939,063 (399,146) ----------- ----------- ---------- Net interest income 1,045,441 1,077,898 (32,457) Provision for credit losses 455,630 601,689 (146,059) Net interest income after provision for credit losses 589,811 476,209 113,602 Non-interest income: Fees and commissions 528,108 491,864 36,244 Foreign exchange gains (losses) - net 25,558 (333,034) 358,592 Trading account profits - net 266,816 138,460 128,356 Investment securities gains (losses) - net (21,293) 20,598 (41,891) Other non-interest income 47,457 49,819 (2,362) ----------- ----------- ---------- Total 846,646 367,707 478,939 ----------- ----------- ---------- Non-interest expense: Salaries and employee benefits 499,470 456,568 42,902 Occupancy expenses - net 121,080 134,787 (13,707) Losses on other real estate owned 305 6,233 (5,928) Goodwill amortization - 7,862 (7,862) Amortization of intangible assets 46,917 36,932 9,985 Insurance premiums, including deposit insurance 48,259 43,452 4,807 Communications 22,043 21,266 777 Other non-interest expenses 451,686 461,049 (9,363) ----------- ----------- ---------- Total 1,189,760 1,168,149 21,611 ----------- ----------- ---------- Income (loss) before income tax expense (benefit) and cumulative effect of a change in accounting principle 246,697 (324,233) 570,930 Income tax expense (benefit) 42,877 (101,832) 144,709 Income (loss) before cumulative effect of a change in accounting principle 203,820 (222,401) 426,221 Cumulative effect of a change in accounting principle, net of tax (532) 5,867 (6,399) Net income (loss) 203,288 (216,534) 419,822 Income available to preferred shareholders 12,504 4,168 8,336 Net income (loss) available to common shareholders 190,784 (220,702) 411,486 (in yen) Amounts per share: Basic earnings (loss) per common share - income (loss) available to common shareholders before cumulative effect of a change in accounting principle 34,058.11 (40,789.57) 74,847.68 Basic earnings (loss) per common share - net income (loss) available to common shareholders 33,963.40 (39,733.32) 73,696.72 Diluted earnings (loss) per common share - income (loss) available to common shareholders before cumulative effect of a change in accounting principle 31,228.45 (40,789.57) 72,018.02 Diluted earnings (loss) per common share - net income (loss) available to common shareholders 31,137.71 (39,733.32) 70,871.03
-4- Mitsubishi Tokyo Financial Group, Inc. and Subsidiaries Nonaccrual and restructured loans, and accruing loans contractually past due 90 days or more (unaudited)
As of March 31, Increase/ 2003 2003 (A) 2002 (B) (Decrease) (in million of yen) (New classification) (Old classification) (Old classification) (A) - (B) -------------------- -------------------- -------------------- ---------- Nonaccrual loans: Domestic: Manufacturing 111,107 112,152 142,572 (30,420) Construction 149,918 149,918 213,491 (63,573) Real estate 266,408 266,408 841,414 (575,006) Services 87,492 85,602 214,877 (129,275) Wholesale and retail 224,468 238,986 251,061 (12,075) Banks and other financial institutions 17,794 17,794 58,568 (40,774) Communication and information services 14,081 - - - Other industries 53,922 54,330 39,687 14,643 Consumer 150,989 150,989 166,333 (15,344) ---------- ---------- ---------- ---------- Total domestic 1,076,179 1,076,179 1,928,003 (851,824) ---------- ---------- ---------- ---------- Foreign: Governments and official institutions 1,747 1,747 3,341 (1,594) Banks and other financial institutions 8,387 8,387 9,119 (732) Commercial and industrial 271,090 271,090 226,054 45,036 Other 56,156 56,156 7,059 49,097 ---------- ---------- ---------- ---------- Total foreign 337,380 337,380 245,573 91,807 ---------- ---------- ---------- ---------- Total 1,413,559 1,413,559 2,173,576 (760,017) ---------- ---------- ---------- ---------- Restructured loans: Domestic 1,212,832 1,212,832 1,859,176 (646,344) Foreign 106,236 106,236 109,190 (2,954) ---------- ---------- ---------- ---------- Total 1,319,068 1,319,068 1,968,366 (649,298) ---------- ---------- ---------- ---------- Accruing loans contractually past due 90 days or more: Domestic 17,533 17,533 20,276 (2,743) Foreign 2,866 2,866 2,764 102 ---------- ---------- ---------- ---------- Total 20,399 20,399 23,040 (2,641) ---------- ---------- ---------- ---------- Total 2,753,026 2,753,026 4,164,982 (1,411,956) ---------- ---------- ---------- ----------
Note: During the fiscal year ended March 31,2003, the Bank of Japan changed the industry segment loan classification defined for regulatory reporting purposes. For the purpose of comparison, the information as of March 31, 2003 includes both loans outstanding by type of industry based on the prior years' industry segment classification and the new industry segment classification. -5- -----END PRIVACY-ENHANCED MESSAGE-----