SEC Form 6-K filed by Mitsubishi UFJ Financial Group Inc.

11/14/24 6:05:51 AM ET

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6-K 1 d851730d6k.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 November 2024

Commission File No. 000-54189

MITSUBISHI UFJ FINANCIAL GROUP, INC.

(Translation of registrant’s name into English)

4-5, Marunouchi 1-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. 333-273681) 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FROM THE DATE ON WHICH THIS REPORT IS FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED WITH OR FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION.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: November 14, 2024


Mitsubishi UFJ Financial Group, Inc.

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

LOGO

Consolidated Summary Report

< under Japanese GAAP >

for the six months ended September 30, 2024

November 14, 2024


Company name:	Mitsubishi UFJ Financial Group, Inc.	Stock exchange listings:	Tokyo, Nagoya, New York
Code number:	8306	URL https://www.mufg.jp/english/
Representative:	Hironori Kamezawa, President & Group CEO
For inquiry:	Masahisa Takahashi, Managing Director, Head of Financial Accounting and Reporting,
	Financial Accounting Office, Financial Planning Division
	TEL +81-50-3613-1179


Semi-annual securities report issuing date:	November 29, 2024	Dividend payment date:	December 5, 2024
Trading accounts:	Established


Supplemental information for financial statements:				Available
Investor meeting presentation:				Scheduled (for investors and analysts)

(Amounts of less than one million yen are rounded down.)

1. Consolidated Financial Data for the Six Months ended September 30, 2024

(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 six months ended
September 30, 2024		6,860,277		21.1		1,756,926		37.3		1,258,195		35.7
September 30, 2023		5,665,663		31.3		1,279,907		116.5		927,281		301.3

(*)	Comprehensive income

September 30, 2024: 1,321,798 million yen, (14.8) % ; September 30, 2023: 1,551,605 million yen, 415.2 %


	Basic earnings per share		Diluted earnings per share
	yen		yen
For the six months ended
September 30, 2024		107.69		107.57
September 30, 2023		77.11		76.89

(2)	Financial Conditions


	Total Assets		Total Net Assets		Equity-to-asset ratio (*)
	million yen		million yen		%
As of
September 30, 2024		399,058,344		21,678,586		5.1
March 31, 2024		403,703,147		20,746,978		4.9

(Reference) Shareholders’ equity as of September 30, 2024: 20,469,922 million yen; March 31, 2024: 19,587,974 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
	yen		yen		yen		yen		yen
For the fiscal year
ended March 31, 2024		—		20.50		—		20.50		41.00
ending March 31, 2025		—		25.00
ending March 31, 2025 (Forecast)						—		35.00		60.00

(*)	Revision of forecasts for dividends on the presentation date of this Consolidated Summary Report : Yes

3. Earnings Target for the Fiscal Year ending March 31, 2025 (Consolidated)

MUFG has an earning target of 1,750.0 billion yen of profits attributable to owners of parent for the fiscal year ending March 31, 2025. (There is a change to our earnings target released on May 15, 2024.)

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)	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): Yes

(D) Restatements: No

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


(A) Total stocks outstanding including treasury stocks:	September 30, 2024	12,337,710,920 shares
	March 31, 2024	12,337,710,920 shares
(B) Treasury stocks:	September 30, 2024	672,444,452 shares
	March 31, 2024	611,522,914 shares
(C) Average outstanding of total stocks:	Six months ended September 30, 2024	11,683,338,019 shares
	Six months ended September 30, 2024	12,024,763,019 shares

* This “Consolidated Summary Report” (Quarterly “Tanshin”) is outside the scope of the external auditor’s interim audit procedure.

* 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. We will publish U.S. GAAP financial results in a separate disclosure document when such information becomes available.

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) Consolidated Statements of Changes in Net Assets			6
(4) Changes in Accounting Policies			8
(5) Notes on Going-Concern Assumption			9
(6) Additional Information			9

Supplemental Information:

“Selected Financial Information under Japanese GAAP For the Six Months Ended September 30, 2024”

(*) The following is the schedule of internet conference and explanation for investors and analysts. You can confirm those contents over the internet.

Internet Conference: November 14, 2024 (Thursday)

Explanation for investors and analysts: November 18, 2024 (Monday)

Mitsubishi UFJ Financial Group, Inc.

1. Consolidated Financial Statements and Notes

(1) Consolidated Balance Sheets


(in millions of yen)	As of March 31, 2024			As of September 30, 2024
Assets:
Cash and due from banks		109,875,097			108,002,412
Call loans and bills bought		720,879			880,404
Receivables under resale agreements		18,367,908			18,595,220
Receivables under securities borrowing transactions		5,010,399			5,532,131
Monetary claims bought		7,786,978			6,517,291
Trading assets		20,886,546			22,492,970
Money held in trust		1,270,815			1,117,384
Securities		86,878,589			81,537,226
Loans and bills discounted		116,825,660			120,588,293
Foreign exchanges		2,496,308			1,876,166
Other assets		17,912,498			16,122,842
Tangible fixed assets		1,229,007			1,228,738
Intangible fixed assets		1,671,372			1,956,766
Net defined benefit assets		1,982,502			2,030,364
Deferred tax assets		156,673			140,991
Customers’ liabilities for acceptances and guarantees		12,167,164			11,874,113
Allowance for credit losses		(1,535,253	)		(1,434,973	)

Total assets		403,703,147			399,058,344

Liabilities:
Deposits		224,035,035			222,446,306
Negotiable certificates of deposit		16,555,451			17,398,159
Call money and bills sold		5,125,583			5,065,427
Payables under repurchase agreements		35,482,072			37,485,066
Payables under securities lending transactions		1,047,194			627,742
Commercial papers		3,105,779			3,328,924
Trading liabilities		16,729,760			15,875,166
Borrowed money		25,955,961			24,581,231
Foreign exchanges		3,465,919			3,670,774
Short-term bonds payable		1,211,769			1,381,421
Bonds payable		16,303,298			14,420,202
Due to trust accounts		7,387,495			5,276,301
Other liabilities		13,312,715			13,019,617
Reserve for bonuses		243,372			158,978
Reserve for bonuses to directors		2,629			2,098
Reserve for stocks payment		13,331			8,373
Net defined benefit liabilities		102,155			107,873
Reserve for retirement benefits to directors		822			761
Reserve for loyalty award credits		17,809			8,306
Reserve for contingent losses		133,860			121,350
Reserves under special laws		5,058			5,345
Deferred tax liabilities		465,295			431,981
Deferred tax liabilities for land revaluation		86,631			84,233
Acceptances and guarantees		12,167,164			11,874,113

Total liabilities		382,956,169			377,379,757

Mitsubishi UFJ Financial Group, Inc.


(in millions of yen)	As of March 31, 2024			As of September 30, 2024
Net assets:
Capital stock		2,141,513			2,141,513
Capital surplus		83,623			76,805
Retained earnings		13,791,608			14,820,920
Treasury stock		(613,823	)		(722,917	)

Total shareholders’ equity		15,402,921			16,316,321

Net unrealized gains (losses) on available-for-sale securities		1,534,094			1,355,221
Net deferred gains (losses) on hedging instruments		(687,476	)		(844,830	)
Land revaluation excess		133,967			128,032
Foreign currency translation adjustments		2,762,818			3,087,741
Remeasurements of defined benefit plans		507,085			483,599
Debt value adjustments of foreign subsidiaries and affiliates		(65,435	)		(57,781	)
Net unrealized gains (losses) on loans of foreign subsidiaries and affiliates		—			1,616

Total accumulated other comprehensive income		4,185,052			4,153,600

Subscription rights to shares		0			6
Non-controlling interests		1,159,003			1,208,657

Total net assets		20,746,978			21,678,586

Total liabilities and net assets		403,703,147			399,058,344

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 six months ended September 30, 2023		For the six months ended September 30, 2024
Ordinary income		5,665,663		6,860,277
Interest income		3,532,387		4,357,421
Interest on loans and bills discounted		1,899,955		2,158,474
Interest and dividends on securities		684,598		819,014
Trust fees		67,414		70,771
Fees and commissions		961,227		1,117,642
Trading income		186,222		227,068
Other operating income		374,268		287,483
Other ordinary income		544,143		799,889
Ordinary expenses		4,385,755		5,103,351
Interest expenses		2,302,876		2,848,886
Interest on deposits		900,318		1,091,459
Fees and commissions		179,900		209,638
Other operating expenses		151,498		90,050
General and administrative expenses		1,425,035		1,576,576
Other ordinary expenses		326,444		378,200

Ordinary profits		1,279,907		1,756,926

Extraordinary gains		9,725		9,549
Gains on disposition of fixed assets		9,725		9,549
Extraordinary losses		52,539		24,625
Losses on disposition of fixed assets		6,343		4,447
Losses on impairment of fixed assets		23,778		16,868
Provision for reserve for contingent liabilities from financial instruments transactions		359		286
Losses on sales of shares of subsidiaries		—		3,023
Losses on change in equity		22,058		—

Profits before income taxes		1,237,093		1,741,849

Income taxes-current		197,629		259,670
Income taxes-deferred		77,293		169,539

Total taxes		274,923		429,210

Profits		962,170		1,312,639

Profits attributable to non-controlling interests		34,888		54,444

Profits attributable to owners of parent		927,281		1,258,195

Mitsubishi UFJ Financial Group, Inc.

Consolidated Statements of Comprehensive Income


(in millions of yen)	For the six months ended September 30, 2023			For the six months ended September 30, 2024
Profits		962,170			1,312,639
Other comprehensive income
Net unrealized gains (losses) on available-for-sale securities		(152,983	)		(210,521	)
Net deferred gains (losses) on hedging instruments		(232,733	)		(151,311	)
Foreign currency translation adjustments		637,119			529,149
Remeasurements of defined benefit plans		(15,179	)		(23,603	)
Net unrealized gains (losses) on loans of foreign subsidiaries and affiliates		—			2,103
Share of other comprehensive income of associates accounted for using equity method		353,212			(136,657	)

Total other comprehensive income		589,435			9,158

Comprehensive income		1,551,605			1,321,798

(Comprehensive income attributable to)
Comprehensive income attributable to owners of parent		1,482,366			1,234,573
Comprehensive income attributable to non-controlling interests		69,238			87,224

Mitsubishi UFJ Financial Group, Inc.

(3) Consolidated Statements of Changes in Net Assets

For the six months ended September 30, 2023

(in millions of yen)


	Shareholders’ equity														Accumulated other comprehensive income
	Capital stock		Capital surplus			Retained earnings			Treasury stock			Total shareholders’ equity			Net unrealized gains (losses) on available-for-sale securities			Net deferred gains (losses) on hedging instruments
Balance at the beginning of the period		2,141,513		349,661			12,739,228			(481,091	)		14,749,310			800,955			(387,079	)
Changes during the period
Cash dividends							(192,859	)					(192,859	)
Profits attributable to owners of parent							927,281						927,281
Repurchase of treasury stock										(16	)		(16	)
Disposal of treasury stock				0						1,663			1,663
Reversal of land revaluation excess							1,422						1,422
Changes in subsidiaries’ equity				(1,239	)								(1,239	)
Net changes of items other than shareholders’ equity																(163,669	)		(231,418	)
Total changes during the period		—		(1,239	)		735,843			1,647			736,251			(163,669	)		(231,418	)

Balance at the end of the period		2,141,513		348,421			13,475,072			(479,444	)		15,485,562			637,286			(618,497	)


	Accumulated other comprehensive income													Non-controlling interests		Total net assets
	Land revaluation excess			Foreign currency translation adjustments		Remeasurements of defined benefit plans			Debt value adjustments of foreign subsidiaries and affiliates			Total accumulated other comprehensive income		Non-controlling interests		Total net assets
Balance at the beginning of the period		135,526			1,792,840		140,485			(747	)		2,481,980		1,041,565		18,272,857
Changes during the period
Cash dividends																	(192,859	)
Profits attributable to owners of parent																	927,281
Repurchase of treasury stock																	(16	)
Disposal of treasury stock																	1,663
Reversal of land revaluation excess																	1,422
Changes in subsidiaries’ equity																	(1,239	)
Net changes of items other than shareholders’ equity		(1,422	)		998,321		(14,967	)		(33,181	)		553,663		53,243		606,907
Total changes during the period		(1,422	)		998,321		(14,967	)		(33,181	)		553,663		53,243		1,343,158

Balance at the end of the period		134,104			2,791,161		125,517			(33,928	)		3,035,644		1,094,809		19,616,016

Mitsubishi UFJ Financial Group, Inc.

For the six months ended September 30, 2024

(in millions of yen)


	Shareholders’ equity														Accumulated other comprehensive income
	Capital stock		Capital surplus			Retained earnings			Treasury stock			Total shareholders’ equity			Net unrealized gains (losses) on available-for-sale securities			Net deferred gains (losses) on hedging instruments
Balance at the beginning of the period		2,141,513		83,623			13,791,608			(613,823	)		15,402,921			1,534,094			(687,476	)
Cumulative effects of changes in accounting policies							6,119						6,119						(1,896	)
Restated balance		2,141,513		83,623			13,797,728			(613,823	)		15,409,041			1,534,094			(689,373	)
Changes during the period
Cash dividends							(240,937	)					(240,937	)
Profits attributable to owners of parent							1,258,195						1,258,195
Repurchase of treasury stock										(118,406	)		(118,406	)
Disposal of treasury stock				0						9,312			9,312
Reversal of land revaluation excess							5,934						5,934
Changes in subsidiaries’ equity				(6,818	)								(6,818	)
Net changes of items other than shareholders’ equity																(178,873	)		(155,456	)
Total changes during the period		—		(6,818	)		1,023,192			(109,093	)		907,280			(178,873	)		(155,456	)

Balance at the end of the period		2,141,513		76,805			14,820,920			(722,917	)		16,316,321			1,355,221			(844,830	)


	Accumulated other comprehensive income																Subscription rights to shares		Non- controlling interests		Total net assets
	Land revaluation excess			Foreign currency translation adjustments		Remeasurements of defined benefit plans			Debt value adjustments of foreign subsidiaries and affiliates			Net unrealized gains (losses) on loans of foreign subsidiaries and affiliates		Total accumulated other comprehensive income			Subscription rights to shares		Non- controlling interests		Total net assets
Balance at the beginning of the period		133,967			2,762,818		507,085			(65,435	)		—		4,185,052			0		1,159,003		20,746,978
Cumulative effects of changes in accounting policies															(1,896	)						4,223
Restated balance		133,967			2,762,818		507,085			(65,435	)		—		4,183,156			0		1,159,003		20,751,202
Changes during the period
Cash dividends																						(240,937	)
Profits attributable to owners of parent																						1,258,195
Repurchase of treasury stock																						(118,406	)
Disposal of treasury stock																						9,312
Reversal of land revaluation excess																						5,934
Changes in subsidiaries’ equity																						(6,818	)
Net changes of items other than shareholders’ equity		(5,934	)		324,923		(23,485	)		7,653			1,616		(29,556	)		5		49,654		20,103
Total changes during the period		(5,934	)		324,923		(23,485	)		7,653			1,616		(29,556	)		5		49,654		927,384

Balance at the end of the period		128,032			3,087,741		483,599			(57,781	)		1,616		4,153,600			6		1,208,657		21,678,586

Mitsubishi UFJ Financial Group, Inc.

(4) Changes in Accounting Policies

(Accounting Standard for Corporate Tax, Inhabitant Tax, Enterprise Tax, etc.)

Accounting Standard Board of Japan (“ASBJ”) Statement No. 27, “Accounting Standard for Corporate Tax, Inhabitant Tax, Enterprise Tax, etc.” (ASBJ, October 28, 2022), etc., have been applied from the beginning of the six months ended September 30, 2024.

The cumulative effect of retroactively applying the new accounting policy to reporting periods prior to the beginning of the six months ended September 30, 2024 was recognized as an adjustment to retained earnings as of the beginning of the six months ended September 30, 2024.

As a result, at the beginning of the six months ended September 30, 2024, retained earnings increased by ¥6,119 million, and deferred hedge decreased by ¥1,896 million, deferred tax liabilities decreased by ¥4,223 million.

(Adoption of IFRS accounting standards by a foreign subsidiary)

The consolidated financial statements of Bank of Ayudhya Public Company Limited (“Krungsri”), which are used in MUFG’s consolidated accounting process, had been previously prepared in accordance with U.S. GAAP, but from the beginning of the six months ended September 30, 2024, have been prepared in accordance with IFRS.

This change has been made pursuant to MUFG’s decision to consolidate Krungsri based on a provisional closing of its accounts through the system put in place to prepare Krungsri’s consolidated financial statements in accordance with IFRS from the perspective of providing MUFG’s consolidated financial statements in a more timely manner as described in “Provisional closing of accounts of a significant subsidiary” under “(6) Additional Information” below. The change is part of the MUFG Group’s ongoing review of infrastructure and system development in considering adoption of IFRS.

The impact of the change on MUFG’s consolidated financial statements and per share information for the previous fiscal year is immaterial.

Mitsubishi UFJ Financial Group, Inc.

(5) Notes on Going-Concern Assumption

None.

(6) Additional Information

(Provisional closing of accounts of a significant subsidiary)

Krungsri, a significant subsidiary of MUFG, closes its financial accounts based on a fiscal year-end of December 31 and, previously, had been consolidated based on its consolidated financial statements as of the end of each immediately preceding quarterly reporting period. However, from the perspective of providing financial information in a more timely manner, MUFG has decided to consolidate Krungsri based on a provisional closing of accounts of Krungsri to be implemented as of MUFG’s quarterly reporting period, effective from the six months ended September 30, 2024.

Accordingly, for the six months ended September 30, 2024, Krungsri’s financial results for the nine-month period from January 1, 2024 to September 30, 2024 have been consolidated based on a provisional closing of accounts of Krungsri, and the impact of implementation of such provisional closing of accounts has been reflected through MUFG’s consolidated statement of income.

Concerning Krungsri’s financial results for the period from January 1, 2024 to March 31, 2024, ordinary income was ¥227,052 million, ordinary profits were ¥37,660 million, and profits before income taxes were ¥37,457 million.

Selected Financial Information

under Japanese GAAP

For the Six Months Ended September 30, 2024


Mitsubishi UFJ Financial Group, Inc.

Mitsubishi UFJ Financial Group, Inc.

[Contents]


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

2. Average Interest Rate Spread	[BK Non-consolidated][TB Non-consolidated] [BK and TB Combined]	7

3. Notional Principal by the Remaining Life of the Interest Rate Swaps for Hedge-Accounting	[MUFG Consolidated][BK Consolidated][TB Consolidated]	8

4. Securities	[MUFG Consolidated] [BK Non-consolidated] [TB Non-consolidated]	9

5. ROE	[MUFG Consolidated]	12

6. Risk-Adjusted Capital Ratio	[MUFG Consolidated][BK Consolidated][TB Consolidated] [BK Non-consolidated][TB Non-consolidated]	13

7. Loans to Be Disclosed under the Banking Act and the Financial Reconstruction Act (the “FRA”)	[MUFG Consolidated][BK and TB Combined including Trust Account] [BK Non-consolidated][TB Non-consolidated] [TB Non-consolidated : Trust Account]	14

8. Progress in Disposition of Problem Assets	[BK Non-consolidated] [TB Non-consolidated including Trust Account]	20

9. Loans Classified by Type of Industry	[BK and TB Combined including Trust Accounts] [BK Non-consolidated][TB Non-consolidated] [TB Non-consolidated : Trust Accounts]	22

10. Domestic Consumer Loans, Domestic Loans to Small/Medium-Sized Companies and Proprietors	[BK Non-consolidated] [TB Non-consolidated including Trust Account]	26

11. Overseas Loans	[BK Consolidated excl. KS, BDI]56	27

12. Loans and Deposits	[BK and TB Combined] [BK Non-consolidated][TB Non-consolidated]	28

13. Domestic Deposits	[BK and TB Combined] [BK Non-consolidated][TB Non-consolidated]	29

14. Status of Deferred Tax Assets	[BK Non-consolidated][TB Non-consolidated]	30

(Reference) 1. Financial Statements	[BK Non-consolidated][TB Non-consolidated]	32

(*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.

(*5)	“KS” means Bank of Ayudhya Public Company Limited.

(*6)	“BDI” means PT Bank Danamon Indonesia, Tbk.

Mitsubishi UFJ Financial Group, Inc.

1. Financial Results

MUFG Consolidated


	(in millions of yen)
	For the six months ended						Increase (Decrease) (A) - (B)
	September 30, 2024 (A)			September 30, 2023 (B)			Increase (Decrease) (A) - (B)
Gross profits		2,911,854			2,487,420			424,433
Gross profits before credit costs for trust accounts		2,911,851			2,487,419			424,431
Net interest income		1,508,577			1,229,687			278,890
Trust fees		70,771			67,414			3,357
Credit costs for trust accounts (1)		2			0			2
Net fees and commissions		908,004			781,327			126,676
Net trading profits		227,068			186,222			40,846
Net other operating profits		197,432			222,769			(25,336	)
Net gains (losses) on debt securities		2,386			(49,802	)		52,189
General and administrative expenses		1,606,497			1,401,632			204,864
Amortization of goodwill		18,388			9,542			8,846
Net operating profits before credit costs for trust accounts, provision for general allowance for credit losses and amortization of goodwill		1,323,742			1,095,329			228,412
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		1,305,354			1,085,787			219,566
Provision for general allowance for credit losses (2)		73,833			(121,516	)		195,350
Net operating profits*		1,379,190			964,271			414,919
Net non-recurring gains (losses)		377,735			315,636			62,099
Credit costs (3)		(318,318	)		(109,791	)		(208,526	)
Losses on loan write-offs		(137,920	)		(75,970	)		(61,949	)
Provision for specific allowance for credit losses		(186,816	)		(33,832	)		(152,984	)
Other credit costs		6,418			10			6,407
Reversal of allowance for credit losses (4)		—			—			—
Reversal of reserve for contingent losses included in credit costs (5)		688			—			688
Gains on loans written-off (6)		58,022			50,080			7,941
Net gains (losses) on equity securities		363,984			130,377			233,607
Gains on sales of equity securities		400,208			143,104			257,104
Losses on sales of equity securities		(20,477	)		(8,458	)		(12,019	)
Losses on write-down of equity securities		(15,745	)		(4,268	)		(11,477	)
Equity in earnings of equity method investees		257,138			305,305			(48,167	)
Other non-recurring gains (losses)		16,219			(60,335	)		76,555

Ordinary profits		1,756,926			1,279,907			477,018

Net extraordinary gains (losses)		(15,076	)		(42,813	)		27,737
Net gains (losses) on disposition of fixed assets		5,102			3,382			1,719
Losses on impairment of fixed assets		(16,868	)		(23,778	)		6,909
Losses on sales of shares of subsidiaries		(3,023	)		—			(3,023	)
Losses on change in equity		—			(22,058	)		22,058
Profits before income taxes		1,741,849			1,237,093			504,756
Income taxes-current		259,670			197,629			62,040
Income taxes-deferred		169,539			77,293			92,246
Total taxes		429,210			274,923			154,286
Profits		1,312,639			962,170			350,469
Profits attributable to non-controlling interests		54,444			34,888			19,556

Profits attributable to owners of parent		1,258,195			927,281			330,913

Note:
* 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

(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		(185,771	)		(181,227	)		(4,543	)
Number of consolidated subsidiaries		340			252			88
Number of affiliated companies accounted for under the equity method		56			46			10

Mitsubishi UFJ Financial Group, Inc.

BK and TB Combined


	(in millions of yen)
	For the six months ended						Increase (Decrease) (A) - (B)
	September 30, 2024 (A)			September 30, 2023 (B)			Increase (Decrease) (A) - (B)
Gross profits		1,563,040			1,509,794			53,245
Gross profits before credit costs for trust accounts		1,563,037			1,509,794			53,243
Domestic gross profits		752,364			706,634			45,730
Net interest income		483,409			433,339			50,069
Trust fees		61,807			58,464			3,343
Credit costs for trust accounts (1)		2			0			2
Net fees and commissions		186,900			158,850			28,049
Net trading profits		3,297			(22,760	)		26,057
Net other operating profits		16,949			78,740			(61,790	)
Net gains (losses) on debt securities		(1,684	)		(16,713	)		15,029
Non-domestic gross profits		810,675			803,160			7,515
Net interest income		421,752			453,182			(31,430	)
Net fees and commissions		185,630			191,481			(5,851	)
Net trading profits		29,334			42,594			(13,259	)
Net other operating profits		173,958			115,901			58,056
Net gains (losses) on debt securities		6,539			(32,939	)		39,478
General and administrative expenses		757,174			747,217			9,956
Personnel expenses		323,196			310,508			12,687
Non-personnel expenses		393,404			401,264			(7,859	)
Taxes		40,572			35,443			5,128
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		805,863			762,577			43,286
Provision for general allowance for credit losses (2)		(39	)		(103,961	)		103,921
Net operating profits		805,826			658,616			147,209
Net non-recurring gains (losses)		385,879			137,043			248,836
Credit costs (3)		(6,536	)		26,455			(32,991	)
Reversal of allowance for credit losses (4)		18,486			—			18,486
Reversal of reserve for contingent losses included in credit costs (5)		1,104			—			1,104
Gains on loans written-off (6)		7,083			12,780			(5,696	)
Net gains (losses) on equity securities		351,128			125,514			225,613
Gains on sales of equity securities		386,979			138,804			248,174
Losses on sales of equity securities		(18,703	)		(10,119	)		(8,583	)
Losses on write-down of equity securities		(17,147	)		(3,170	)		(13,976	)
Other non-recurring gains (losses)		14,613			(27,706	)		42,320

Ordinary profits		1,191,705			795,659			396,046

Net extraordinary gains (losses)		(11,065	)		(3,123	)		(7,941	)
Net gains (losses) on disposition of fixed assets		5,194			2,225			2,969
Losses on impairment of fixed assets		(14,599	)		(14,634	)		34
Gains on extinguishment of tie-in shares		219			4,319			(4,100	)
Losses on sales of shares of subsidiaries		(1,879	)		—			(1,879	)
Gains on sales of shares of subsidiaries		—			4,863			(4,863	)
Income before income taxes		1,180,640			792,535			388,104
Income taxes-current		191,606			140,866			50,740
Income taxes-deferred		108,829			15,176			93,652
Total taxes		300,436			156,043			144,393

Net income		880,204			636,492			243,711


(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		20,100			(64,724	)		84,825
Credit costs for trust accounts		2			0			2
Provision for general allowance for credit losses		63,469			(103,961	)		167,430
Provision for special allowance for credit losses		(52,249	)		40,272			(92,521	)
Allowance for credit to specific foreign borrowers		7,135			1,143			5,991
Losses on loans write-offs		(5,450	)		(12,711	)		7,260
Provision for contingent losses included in credit costs		1,104			(2,718	)		3,822
Gains on loans written-off		7,083			12,780			(5,696	)
Losses on sales of other loans, etc.		(994	)		469			(1,463	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities		801,008			812,230			(11,221	)
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		698,110			719,834			(21,723	)

Mitsubishi UFJ Financial Group, Inc.

BK Consolidated


	(in millions of yen)
	For the six months ended						Increase (Decrease) (A) - (B)
	September 30, 2024 (A)			September 30, 2023 (B)			Increase (Decrease) (A) - (B)
Gross profits		2,161,755			1,802,037			359,718
Net interest income		1,345,408			1,065,638			279,770
Net fees and commissions		494,510			433,771			60,739
Net trading profits		50,875			113,984			(63,108	)
Net other operating profits		270,961			188,644			82,317
Net gains (losses) on debt securities		(5,454	)		(31,124	)		25,669
General and administrative expenses		1,083,435			913,370			170,064
Amortization of goodwill		8,375			2,917			5,457
Net operating profits before provision for general allowance for credit losses and amortization of goodwill		1,086,696			891,584			195,111
Net operating profits before provision for general allowance for credit losses		1,078,320			888,667			189,653
Provision for general allowance for credit losses (1)		77,142			(118,145	)		195,288
Net operating profits*		1,155,463			770,521			384,942
Net non-recurring gains (losses)		84,334			71,070			13,264
Credit costs (2)		(253,532	)		(54,663	)		(198,868	)
Losses on loan write-offs		(86,201	)		(33,726	)		(52,474	)
Provision for specific allowance for credit losses		(173,748	)		(20,947	)		(152,800	)
Other credit costs		6,416			10			6,406
Reversal of allowance for credit losses (3)		—			—			—
Reversal of reserve for contingent losses included in credit costs (4)		354			—			354
Gains on loans written-off (5)		44,119			36,848			7,271
Net gains (losses) on equity securities		249,263			104,305			144,957
Gains on sales of equity securities		283,500			116,523			166,977
Losses on sales of equity securities		(18,199	)		(9,413	)		(8,785	)
Losses on write-down of equity securities		(16,037	)		(2,803	)		(13,234	)
Equity in earnings of equity method investees		26,261			22,320			3,941
Other non-recurring gains (losses)		17,866			(37,741	)		55,607

Ordinary profits		1,239,798			841,591			398,206

Net extraordinary gains (losses)		3,048			(20,107	)		23,155
Net gains (losses) on disposition of fixed assets		5,010			2,040			2,970
Losses on impairment of fixed assets		(1,962	)		(22,147	)		20,184
Profits before income taxes		1,242,846			821,484			421,361
Income taxes-current		199,625			157,114			42,510
Income taxes-deferred		128,637			47,803			80,834
Total taxes		328,262			204,917			123,344
Profits		914,583			616,567			298,016
Profits attributable to non-controlling interests		26,275			13,026			13,248

Profits attributable to owners of parent		888,308			603,540			284,767

Note:
* Net operating profits = Net operating profits of BK + 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)		(131,915	)		(135,960	)		4,045
Number of consolidated subsidiaries		113			113			—
Number of affiliated companies accounted for under the equity method		48			41			7

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated


	(in millions of yen)
	For the six months ended						Increase (Decrease) (A) - (B)
	September 30, 2024 (A)			September 30, 2023 (B)			Increase (Decrease) (A) - (B)
Gross profits		1,340,843			1,341,105			(262	)
Domestic gross profits		562,881			551,583			11,297
Net interest income		409,186			406,622			2,564
Net fees and commissions		133,373			116,057			17,316
Net trading profits		3,006			1,526			1,480
Net other operating profits		17,314			27,377			(10,063	)
Net gains (losses) on debt securities		(2,120	)		(15,637	)		13,516
Non-domestic gross profits		777,961			789,522			(11,560	)
Net interest income		398,121			404,853			(6,732	)
Net fees and commissions		185,819			191,033			(5,213	)
Net trading profits		29,189			65,037			(35,848	)
Net other operating profits		164,831			128,597			36,233
Net gains (losses) on debt securities		(1,376	)		(15,345	)		13,968
General and administrative expenses		654,949			641,831			13,117
Personnel expenses		290,379			275,638			14,741
Non-personnel expenses		328,609			335,372			(6,763	)
Amortization of goodwill		1,749			1,906			(157	)
Taxes		35,960			30,821			5,138
Net operating profits before provision for general allowance for credit losses and amortization of goodwill		687,643			701,180			(13,537	)
Net operating profits before provision for general allowance for credit losses		685,893			699,273			(13,380	)
Provision for general allowance for credit losses (1)		—			(103,849	)		103,849
Net operating profits		685,893			595,423			90,469
Net non-recurring gains (losses)		273,900			130,114			143,786
Credit costs (2)		(6,446	)		26,582			(33,028	)
Reversal of allowance for credit losses (3)		18,486			—			18,486
Reversal of reserve for contingent losses included in credit costs (4)		770			—			770
Gains on loans written-off (5)		7,080			12,780			(5,699	)
Net gains (losses) on equity securities		248,770			103,406			145,363
Gains on sales of equity securities		280,187			114,001			166,186
Losses on sales of equity securities		(16,420	)		(9,238	)		(7,181	)
Losses on write-down of equity securities		(14,997	)		(1,355	)		(13,641	)
Other non-recurring gains (losses)		5,240			(12,655	)		17,895

Ordinary profits		959,794			725,537			234,256

Net extraordinary gains (losses)		4,202			(1,776	)		5,978
Net gains (losses) on disposition of fixed assets		5,059			2,079			2,979
Losses on impairment of fixed assets		(1,075	)		(13,039	)		11,963
Gains on extinguishment of tie-in shares		219			4,319			(4,100	)
Gains on sales of shares of subsidiaries		—			4,863			(4,863	)
Income before income taxes		963,997			723,761			240,235
Income taxes-current		155,314			121,227			34,086
Income taxes-deferred		93,929			17,431			76,497
Total taxes		249,243			138,658			110,584

Net income		714,753			585,102			129,650


(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)		19,890			(64,487	)		84,377
Provision for general allowance for credit losses		63,509			(103,849	)		167,359
Provision for special allowance for credit losses		(52,158	)		40,272			(92,430	)
Allowance for credit to specific foreign borrowers		7,135			1,143			5,991
Losses on loans write-off		(5,450	)		(12,710	)		7,259
Provision for contingent losses included in credit costs		770			(2,592	)		3,362
Gains on loans written-off		7,080			12,780			(5,699	)
Losses on sales of other loans, etc.		(995	)		469			(1,464	)
Net operating profits before provision for general allowance for credit losses, excluding net gains (losses) on debt securities		689,391			730,256			(40,865	)
Net operating profits before provision for general allowance for credit losses, excluding net gains (losses) on debt securities and investment trusts cancellation		604,765			689,204			(84,438	)

Mitsubishi UFJ Financial Group, Inc.

TB Consolidated


	(in millions of yen)
	For the six months ended						Increase (Decrease) (A) - (B)
	September 30, 2024 (A)			September 30, 2023 (B)			Increase (Decrease) (A) - (B)
Gross profits		320,526			310,460			10,066
Gross profits before credit costs for trust accounts		320,524			310,460			10,064
Trust fees		70,942			67,604			3,337
Trust fees before credit costs for trust accounts		70,939			67,603			3,335
Money trusts fees (Jointly operated designated money trusts before credit costs for trust account)		4,857			7,902			(3,044	)
Other trust fees		66,081			59,700			6,380
Credit costs for trust accounts (1)		2			0			2
Net interest income		60,491			74,052			(13,560	)
Net fees and commissions		172,158			165,428			6,729
Net trading profits		1,859			(45,285	)		47,144
Net other operating profits		15,075			48,660			(33,584	)
Net gains (losses) on debt securities		8,351			(18,698	)		27,050
General and administrative expenses		233,396			221,961			11,435
Amortization of goodwill		9,925			6,623			3,302
Net operating profits before credit costs for trust accounts, provision for general allowance for credit losses and amortization of goodwill		97,053			95,122			1,931
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		87,127			88,498			(1,371	)
Provision for general allowance for credit losses (2)		55			(138	)		194
Net operating profits*		87,186			88,360			(1,174	)
Net non-recurring gains (losses)		110,369			6,182			104,186
Credit costs (3)		(70	)		8			(78	)
Losses on loan write-offs		(1	)		(1	)		0
Provision for specific allowance for credit losses		(70	)		10			(80	)
Other credit costs		1			—			1
Reversal of allowance for credit losses (4)		—			—			—
Reversal of reserve for contingent losses included in credit costs (5)		333			—			333
Gains on loans written-off (6)		76			2			73
Net gains (losses) on equity securities		102,350			22,362			79,987
Gains on sales of equity securities		106,843			24,803			82,040
Losses on sales of equity securities		(2,282	)		(880	)		(1,402	)
Losses on write-down of equity securities		(2,210	)		(1,559	)		(650	)
Equity in earnings of equity method investees		843			1,788			(944	)
Other non-recurring gains (losses)		6,836			(17,979	)		24,815

Ordinary profits		197,556			94,543			103,012

Net extraordinary gains (losses)		(15,818	)		(194	)		(15,623	)
Net gains (losses) on disposition of fixed assets		732			1,436			(704	)
Losses on impairment of fixed assets		(13,527	)		(1,631	)		(11,896	)
Losses on sales of shares of subsidiaries		(3,023	)		—			(3,023	)
Profits before income taxes		181,737			94,348			87,388
Income taxes-current		42,963			29,339			13,624
Income taxes-deferred		15,694			(1,758	)		17,452
Total taxes		58,658			27,581			31,076
Profits		123,079			66,767			56,311
Profits attributable to non-controlling interests		134			194			(59	)

Profits attributable to owners of parent		122,945			66,573			56,371

Note:
* Net operating profits = Net operating profits of TB + 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)		398			(127	)		525

Number of consolidated subsidiaries		195			107			88
Number of affiliated companies accounted for under the equity method		6			4			2
TB Consolidated (combined operating results of TB and transferred entities to MUAH in the United States) TB transferred the interests in its subsidiaries in the United States to MUAH in United States which are owned by BK and MUFG. The combined operating results of TB and transferred entities are as follows (the operating results of transferred entities are prepared for managerial accounting purpose):
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		89,356			89,893			(537	)
Profits attributable to owners of parent		124,592			67,574			57,018
Number of the entities transferred to MUAH		4			4			—

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated


	(in millions of yen)
	For the six months ended						Increase (Decrease) (A) - (B)
	September 30, 2024 (A)			September 30, 2023 (B)			Increase (Decrease) (A) - (B)
Gross profits		222,197			168,688			53,508
Gross profits before credit costs for trust accounts		222,194			168,688			53,505
Domestic gross profits		189,483			155,050			34,432
Trust fees		61,807			58,464			3,343
Trust fees before credit costs for trust accounts		61,804			58,463			3,341
Money trusts fees (Jointly operated designated money trusts before credit costs for trust account)		4,857			7,902			(3,044	)
Other trust fees		56,946			50,560			6,386
Credit costs for trust accounts (1)		2			0			2
Net interest income		74,222			26,716			47,505
Net fees and commissions		53,526			42,793			10,732
Net trading profits		290			(24,286	)		24,577
Net other operating profits		(364	)		51,363			(51,727	)
Net gains (losses) on debt securities		436			(1,076	)		1,512
Non-domestic gross profits		32,714			13,638			19,075
Net interest income		23,630			48,329			(24,698	)
Net fees and commissions		(189	)		448			(637	)
Net trading profits		145			(22,443	)		22,588
Net other operating profits		9,127			(12,695	)		21,823
Net gains (losses) on debt securities		7,915			(17,594	)		25,510
General and administrative expenses		102,224			105,385			(3,160	)
Personnel expenses		32,817			34,870			(2,053	)
Non-personnel expenses		64,795			65,891			(1,096	)
Taxes		4,611			4,622			(10	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		119,969			63,303			56,666
Provision for general allowance for credit losses (2)		(39	)		(111	)		71
Net operating profits		119,932			63,192			56,739
Net non-recurring gains (losses)		111,978			6,929			105,049
Credit costs (3)		(89	)		(127	)		37
Reversal of allowance for credit losses (4)		—			—			—
Reversal of reserve for contingent losses included in credit costs (5)		333			—			333
Gains on loans written-off (6)		2			0			2
Net gains (losses) on equity securities		102,357			22,107			80,250
Gains on sales of equity securities		106,791			24,803			81,987
Losses on sales of equity securities		(2,282	)		(880	)		(1,402	)
Losses on write-down of equity securities		(2,150	)		(1,815	)		(335	)
Other non-recurring gains (losses)		9,373			(15,051	)		24,425

Ordinary profits		231,911			70,121			161,789

Net extraordinary gains (losses)		(15,267	)		(1,347	)		(13,919	)
Net gains (losses) on disposition of fixed assets		135			145			(10	)
Losses on impairment of fixed assets		(13,523	)		(1,595	)		(11,928	)
Losses on sales of shares of subsidiaries		(1,879	)		—			(1,879	)
Income before income taxes		216,643			68,773			147,869
Income taxes-current		36,292			19,639			16,653
Income taxes-deferred		14,899			(2,255	)		17,155
Total taxes		51,192			17,384			33,808

Net income		165,450			51,389			114,061


(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		209			(237	)		447
Credit costs for trust accounts		2			0			2
Provision for general allowance for credit losses		(39	)		(111	)		71
Provision for special allowance for credit losses		(91	)		0			(91	)
Allowance for credit to specific foreign borrowers		—			—			—
Losses on loans write-offs		—			(1	)		1
Provision for contingent losses included in credit costs		333			(125	)		459
Gains on loans written-off		2			0			2
Losses on sales of other loans, etc.		1			—			1
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities		111,617			81,973			29,643
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		93,345			30,630			62,714

Mitsubishi UFJ Financial Group, Inc.

2. Average Interest Rate Spread

BK Non-consolidated


	(percentage per annum)
(Domestic business segment)	For the six months ended September 30, 2024 (A)		Increase (Decrease) (A) - (B)			For the six months ended September 30, 2023 (B)
Total average interest rate on interest-earning assets (a)		0.47		(0.12	)		0.59
Average interest rate on loans and bills discounted (b)		0.82		0.03			0.78
Average interest rate on securities		0.62		(0.14	)		0.76
Total average interest rate on interest-bearing liabilities (c) <including general and administrative expenses>		0.34		0.03			0.30
Average interest rate on deposits and NCD (d)		0.02		0.02			0.00
Average interest rate on other liabilities		0.21		0.05			0.16
Overall interest rate spread (a)-(c)		0.13		(0.15	)		0.29
Interest rate spread (b)-(d)		0.79		0.01			0.78

(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted (e)		0.88		0.08			0.80
Interest rate spread (e)-(d)		0.86		0.06			0.80

TB Non-consolidated


	(percentage per annum)
(Domestic business segment)	For the six months ended September 30, 2024 (A)		Increase (Decrease) (A) - (B)			For the six months ended September 30, 2023 (B)
Total average interest rate on interest-earning assets (a)		1.05		0.34			0.71
Average interest rate on loans and bills discounted (b)		0.68		0.12			0.55
Average interest rate on securities		5.26		2.63			2.63
Total average interest rate on interest-bearing liabilities (c)		0.26		0.04			0.21
Average interest rate on deposits and NCD (d)		0.07		0.05			0.01
Overall interest rate spread (a)-(c)		0.79		0.29			0.49
Interest rate spread (b)-(d)		0.61		0.07			0.53

(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted (e)		0.74		0.02			0.71
Interest rate spread (e)-(d)		0.66		(0.03	)		0.69

(Reference)

BK and TB Combined

(percentage per annum)

(Domestic business segment)

For the six months
ended
September 30, 2024
(A)

Increase
(Decrease)
(A) - (B)

For the six months
ended
September 30, 2023
(B)

Average interest rate on loans and bills discounted (a)

0.81

0.04

0.77

Average interest rate on deposits and NCD (b)

0.03

0.02

0.00

Interest rate spread (a)-(b)

0.78

0.01

0.77

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

Average interest rate on loans and bills discounted (c)

0.88

0.08

0.80

Interest rate spread (c)-(b)

0.85

0.05

0.79

Mitsubishi UFJ Financial Group, Inc.

3. Notional Principal by the Remaining Life of the Interest Rate Swaps for Hedge-Accounting

MUFG Consolidated

(in billions of yen)

As of September 30, 2024

within 1 year

1 year to 5 years

over 5 years

Total

Receive-fix/pay-floater

6,033.9

28,879.8

7,979.2

42,893.0

Receive-floater/pay-fix

560.5

7,657.5

5,551.3

13,769.4

Receive-floater/pay-floater

—

Receive-fix/pay-fix

—

Total

6,594.5

36,537.3

13,530.6

56,662.5

BK Consolidated

(in billions of yen)

As of September 30, 2024

within 1 year

1 year to 5 years

over 5 years

Total

Receive-fix/pay-floater

5,734.8

27,927.8

7,809.6

41,472.4

Receive-floater/pay-fix

381.2

6,144.5

4,154.6

10,680.4

Receive-floater/pay-floater

—

Receive-fix/pay-fix

—

Total

6,116.0

34,072.3

11,964.3

52,152.8

TB Consolidated

(in billions of yen)

As of September 30, 2024

within 1 year

1 year to 5 years

over 5 years

Total

Receive-fix/pay-floater

173.5

867.8

134.1

1,175.4

Receive-floater/pay-fix

177.2

1,434.9

1,353.4

2,965.6

Receive-floater/pay-floater

—

Receive-fix/pay-fix

—

Total

350.7

2,302.7

1,487.5

4,141.1

Mitsubishi UFJ Financial Group, Inc.

4. 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”.

Fair Value Information on Securities


	(in millions of yen)
	As of September 30, 2024									As of March 31, 2024
	Amount on consolidated balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on consolidated balance sheet		Unrealized gains (losses)			Gains		Losses
Debt securities being held to maturity		22,739,447		(190,815	)		50,168		240,983		24,843,961		(286,447	)		13,719		300,167
Domestic bonds		16,250,305		(142,605	)		15,790		158,395		17,310,411		(107,223	)		6,886		114,109
Government bonds		13,122,976		(115,428	)		13,961		129,389		14,643,055		(90,759	)		4,592		95,351
Municipal bonds		2,216,346		(22,999	)		987		23,987		1,999,181		(14,279	)		2,047		16,327
Corporate bonds		910,983		(4,176	)		841		5,018		668,174		(2,184	)		245		2,430
Other		6,489,141		(48,210	)		34,378		82,588		7,533,549		(179,224	)		6,832		186,057
Foreign bonds		4,670,795		(52,366	)		29,014		81,380		4,952,083		(176,384	)		3,151		179,536
Other		1,818,346		4,156			5,363		1,207		2,581,465		(2,839	)		3,681		6,520

	(in millions of yen)
	As of September 30, 2024									As of March 31, 2024
	Amount on consolidated balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on consolidated balance sheet		Unrealized gains (losses)			Gains		Losses
Available-for-sale securities		57,563,759		2,190,299			3,321,073		1,130,773		61,736,341		2,725,841			4,178,443		1,452,602
Domestic equity securities		4,074,625		2,891,882			2,902,998		11,115		5,101,691		3,758,884			3,765,175		6,291
Domestic bonds		20,274,962		(134,899	)		12,592		147,491		25,074,644		(129,949	)		9,488		139,438
Government bonds		17,249,035		(62,580	)		10,217		72,797		21,365,241		(70,791	)		3,631		74,423
Municipal bonds		860,618		(11,177	)		11		11,188		1,045,990		(9,573	)		226		9,799
Corporate bonds		2,165,307		(61,142	)		2,363		63,505		2,663,412		(49,584	)		5,630		55,215
Other		33,214,172		(566,683	)		405,482		972,166		31,560,005		(903,093	)		403,779		1,306,872
Foreign equity securities		608,845		32,479			57,359		24,879		709,565		12,752			47,829		35,076
Foreign bonds		23,379,293		(565,530	)		171,335		736,866		20,990,483		(997,307	)		69,045		1,066,353
Other		9,226,033		(33,632	)		176,788		210,420		9,859,956		81,461			286,904		205,442

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”.

Fair Value Information on Securities


	(in millions of yen)
	As of September 30, 2024									As of March 31, 2024
	Amount on balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on balance sheet		Unrealized gains (losses)			Gains		Losses
Debt securities being held to maturity		20,739,599		(182,768	)		44,825		227,594		22,209,137		(260,977	)		10,038		271,015
Stocks of subsidiaries and affiliates		700,929		606,323			611,860		5,536		685,292		563,814			572,794		8,979

	(in millions of yen)
	As of September 30, 2024									As of March 31, 2024
	Amount on balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on balance sheet		Unrealized gains (losses)			Gains		Losses
Available-for-sale securities		41,758,886		1,924,344			2,613,375		689,030		45,454,390		2,491,997			3,340,687		848,693
Domestic equity securities		3,471,718		2,417,889			2,426,851		8,961		4,310,320		3,134,194			3,138,838		4,643
Domestic bonds		17,918,364		(80,355	)		6,262		86,618		23,310,014		(71,482	)		7,994		79,477
Other		20,368,802		(413,189	)		180,261		593,450		17,834,055		(570,714	)		193,854		764,571
Foreign equity securities		557,385		12,597			36,058		23,460		669,182		1,235			36,309		35,076
Foreign bonds		13,289,549		(363,862	)		90,600		454,463		10,234,364		(554,058	)		43,155		597,214
Other		6,521,867		(61,923	)		53,601		115,525		6,930,507		(17,891	)		114,390		132,281

Redemption schedule of Available-for-sale securities with maturities and debt securities being held to maturity

	(in millions of yen)
	As of September 30, 2024									As of March 31, 2024
	within 1 year		1 year to 5 years			5 years to 10 years		over 10 years		within 1 year		1 year to 5 years			5 years to 10 years		over 10 years
Domestic bonds		17,487,835		9,171,681			5,879,328		1,629,824		23,194,822		10,452,409			5,689,499		1,283,696
Government bonds		16,862,061		6,685,631			4,206,356		659,461		22,382,849		8,019,918			4,045,541		207,081
Municipal bonds		321,167		1,253,933			1,309,590		—		342,305		1,218,778			1,291,205		—
Corporate bonds		304,605		1,232,116			363,380		970,363		469,666		1,213,712			352,752		1,076,614
Other		3,678,702		5,703,226			1,425,014		11,319,867		3,543,953		6,204,463			2,326,644		8,099,827
Foreign equity securities		4,483		19,320			—		—		12,113		20,079			—		—
Foreign bonds		3,094,427		3,456,286			925,953		10,098,112		2,695,045		3,350,904			1,869,018		6,839,540
Other		579,791		2,227,619			499,061		1,221,754		836,793		2,833,480			457,625		1,260,286
Total		21,166,537		14,874,908			7,304,343		12,949,691		26,738,775		16,656,873			8,016,143		9,383,523

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

The tables include securitized products in “Monetary claims bought” in addition to “Securities”.

Fair Value Information on Securities

(in millions of yen)

As of September 30, 2024

As of March 31, 2024

Amount on
balance sheet

Unrealized
gains (losses)

Amount on
balance sheet

Unrealized
gains (losses)

Gains

Losses

Gains

Losses

Debt securities being held to maturity

1,999,847

(8,046

)

5,342

13,389

2,634,823

(25,470

)

3,681

29,151

Stocks of subsidiaries and affiliates

19,189

(1,437

)

—

1,437

15,136

(1,477

)

—

1,477


	(in millions of yen)
	As of September 30, 2024									As of March 31, 2024
	Amount on balance sheet		Unrealized gains (losses)							Amount on balance sheet		Unrealized gains (losses)
	Amount on balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on balance sheet		Unrealized gains (losses)			Gains		Losses
Available-for-sale securities		11,794,522		303,777			657,881		354,103		12,453,511		348,078			806,876		458,797
Domestic equity securities		664,289		470,593			472,462		1,868		858,572		619,081			619,850		769
Domestic bonds		2,318,577		(54,666	)		6,328		60,995		1,746,579		(58,581	)		1,493		60,074
Other		8,811,656		(112,149	)		179,089		291,239		9,848,360		(212,421	)		185,532		397,953
Foreign equity securities		128		79			79		—		126		77			77		—
Foreign bonds		6,860,415		(133,933	)		62,985		196,918		7,819,817		(306,146	)		20,037		326,183
Other		1,951,112		21,703			116,024		94,320		2,028,416		93,647			165,417		71,769

Redemption schedule of Available-for-sale securities with maturities and debt securities being held to maturity


	(in millions of yen)
	As of September 30, 2024								As of March 31, 2024
	within 1 year		1 year to 5 years		5 years to 10 years		over 10 years		within 1 year		1 year to 5 years		5 years to 10 years		over 10 years
Domestic bonds		28,472		1,013,757		837,162		439,184		26,386		873,712		329,088		517,391
Government bonds		—		847,513		744,559		328,406		—		699,455		233,937		401,473
Municipal bonds		3,205		102,482		86,583		—		1,505		98,405		92,972		—
Corporate bonds		25,266		63,761		6,018		110,778		24,880		75,851		2,179		115,917
Other		238,608		2,771,421		3,176,770		2,978,741		248,926		3,702,030		2,851,138		4,019,724
Foreign equity securities		—		—		—		—		—		—		—		—
Foreign bonds		197,635		2,605,988		3,118,757		2,937,882		242,784		3,445,064		2,767,252		3,999,539
Other		40,973		165,432		58,013		40,859		6,142		256,966		83,886		20,184
Total		267,081		3,785,179		4,013,932		3,417,926		275,312		4,575,742		3,180,227		4,537,116

Mitsubishi UFJ Financial Group, Inc.

5. ROE

MUFG Consolidated

(%)

For the six months
ended
September 30, 2024
(A)

Increase
(Decrease)
(A) - (B)

For the six months
ended
September 30, 2023
(B)

ROE (MUFG basis) *1

13.39

2.74

10.65

ROE (JPX basis)*2

12.56

2.19

10.37

Note:

*1 ROE (MUFG basis) is computed as follows:

Profits attributable to owners of parent × 2

×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

*2 Japan Exchange Group

Mitsubishi UFJ Financial Group, Inc.

6. Risk-Adjusted Capital Ratio

MUFG Consolidated


	(in billions of yen)
	As of September 30, 2024 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2024 (B)
(1) Total capital ratio (4)/(7)		18.94	%		1.11	%		17.82	%
(2) Tier 1 capital ratio (5)/(7)		16.74	%		1.01	%		15.72	%
(3) Common Equity Tier 1 capital ratio (6)/(7)		14.35	%		0.81	%		13.53	%
(4) Total capital		20,643.5			825.7			19,817.8
(5) Tier 1 capital		18,240.7			761.0			17,479.7
(6) Common Equity Tier 1 capital		15,635.9			594.6			15,041.3
(7) Risk weighted assets		108,956.8			(2,203.3	)		111,160.1
(8) Required Capital (7)×8%		8,716.5			(176.2	)		8,892.8

BK Consolidated

	(in billions of yen)
	As of September 30, 2024 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2024 (B)
(1) Total capital ratio (4)/(7)		19.69	%		1.57	%		18.11	%
(2) Tier 1 capital ratio (5)/(7)		17.68	%		1.56	%		16.11	%
(3) Common Equity Tier 1 capital ratio (6)/(7)		15.15	%		1.35	%		13.80	%
(4) Total capital		16,828.2			913.1			15,915.0
(5) Tier 1 capital		15,106.7			953.1			14,153.6
(6) Common Equity Tier 1 capital		12,950.1			823.7			12,126.4
(7) Risk weighted assets		85,444.5			(2,388.4	)		87,833.0
(8) Required Capital (7)×8%		6,835.5			(191.0	)		7,026.6

TB Consolidated

	(in billions of yen)
	As of September 30, 2024 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2024 (B)
(1) Total capital ratio (4)/(7)		21.02	%		0.59	%		20.42	%
(2) Tier 1 capital ratio (5)/(7)		17.68	%		(0.14	)%		17.83	%
(3) Common Equity Tier 1 capital ratio (6)/(7)		14.84	%		(0.71	)%		15.56	%
(4) Total capital		1,991.4			(130.2	)		2,121.6
(5) Tier 1 capital		1,675.4			(176.6	)		1,852.1
(6) Common Equity Tier 1 capital		1,406.0			(210.4	)		1,616.4
(7) Risk weighted assets		9,472.3			(915.0	)		10,387.4
(8) Required Capital (7)×8%		757.7			(73.2	)		830.9

BK Non-consolidated

	(in billions of yen)
	As of September 30, 2024 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2024 (B)
(1) Total capital ratio (4)/(7)		17.33	%		1.03	%		16.29	%
(2) Tier 1 capital ratio (5)/(7)		15.42	%		1.03	%		14.38	%
(3) Common Equity Tier 1 capital ratio (6)/(7)		12.52	%		0.74	%		11.77	%
(4) Total capital		12,539.5			260.4			12,279.1
(5) Tier 1 capital		11,156.4			317.3			10,839.0
(6) Common Equity Tier 1 capital		9,059.2			186.8			8,872.4
(7) Risk weighted assets		72,347.0			(3,016.2	)		75,363.3
(8) Required Capital (7)×8%		5,787.7			(241.2	)		6,029.0

TB Non-consolidated

	(in billions of yen)
	As of September 30, 2024 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2024 (B)
(1) Total capital ratio (4)/(7)		21.68	%		2.64	%		19.03	%
(2) Tier 1 capital ratio (5)/(7)		18.66	%		1.93	%		16.72	%
(3) Common Equity Tier 1 capital ratio (6)/(7)		16.09	%		1.38	%		14.71	%
(4) Total capital		2,259.9			50.2			2,209.6
(5) Tier 1 capital		1,945.2			4.1			1,941.1
(6) Common Equity Tier 1 capital		1,677.7			(29.8	)		1,707.6
(7) Risk weighted assets		10,423.8			(1,182.1	)		11,605.9
(8) Required Capital (7)×8%		833.9			(94.5	)		928.4

Note:

Risk-adjusted capital ratio of MUFG is computed in accordance with the Notification of the Financial Services Agency No.20, 2006.

Risk-adjusted capital ratio of BK and TB are computed in accordance with the Notification of the Financial Services Agency No.19, 2006.

Mitsubishi UFJ Financial Group, Inc.

7. Loans to Be Disclosed under the Banking Act and the Financial Reconstruction Act (the “FRA”)

MUFG Consolidated

(1) Loans to Be Disclosed under the Banking Act and the FRA (after write-offs)


	(in millions of yen)
	As of September 30, 2024			As of March 31, 2024			Increase (Decrease)
Bankrupt or De facto Bankrupt		290,590			239,004			51,586
Doubtful		1,087,994			1,134,503			(46,509	)
Special Attention		543,769			634,023			(90,254	)
Accruing loans contractually past due 3 months or more		18,648			26,869			(8,220	)
Restructured loans		525,121			607,154			(82,033	)
Subtotal (A)		1,922,354			2,007,531			(85,177	)
Normal(B)		133,420,782			130,602,373			2,818,408
Total loans (C=A+B)		135,343,136			132,609,905			2,733,231
Non-performing loans ratio (A)/(C)		1.42	%		1.51	%		(0.09	)%
Write-offs		205,078			217,701			(12,622	)

(2) Allowance for Credit Losses


	(in millions of yen)
	As of September 30, 2024		Coverage ratio (D)/(A)			As of March 31, 2024		Coverage ratio (D)/(A)			Increase (Decrease)			Coverage ratio (D)/(A)
Allowance for credit losses (D)		1,434,973		74.64	%		1,535,253		76.47	%		(100,280	)		(1.82	)%
General allowance for credit losses		746,118		—			848,536		—			(102,418	)		—
Specific allowance for credit losses		674,578		—			665,305		—			9,272			—
Allowance for credit to specific foreign borrowers		14,276		—			21,412		—			(7,135	)		—

(3) Classification of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)


	(in millions of yen)
Classified by Geographic Area	As of September 30, 2024		As of March 31, 2024		Increase (Decrease)
Domestic		792,895		813,702		(20,807	)
Overseas		1,129,459		1,193,829		(64,370	)
Asia		497,932		420,715		77,216
Indonesia		58,976		50,117		8,859
Singapore		740		12,752		(12,012	)
Thailand		369,906		280,757		89,149
Other		68,308		77,088		(8,780	)
Americas		488,735		601,518		(112,783	)
Europe, Middle East and Other		142,791		171,595		(28,803	)
Total		1,922,354		2,007,531		(85,177	)


	(in millions of yen)
Classified by Industry	As of September 30, 2024		As of March 31, 2024		Increase (Decrease)
Domestic		792,895		813,702		(20,807	)
Manufacturing		308,756		283,777		24,979
Construction		6,939		8,226		(1,287	)
Wholesale and retail		78,913		87,732		(8,818	)
Finance and insurance		12,491		14,109		(1,618	)
Real estate, goods rental and leasing		32,155		37,388		(5,233	)
Services		64,892		80,749		(15,857	)
Other industries		40,836		48,708		(7,872	)
Consumer		247,909		253,008		(5,099	)
Overseas		1,129,459		1,193,829		(64,370	)
Financial institutions		4,389		3,104		1,285
Commercial and industrial		895,259		1,021,074		(125,815	)
Other		229,809		169,650		60,159
Total		1,922,354		2,007,531		(85,177	)

Mitsubishi UFJ Financial Group, Inc.

BK and TB Combined including Trust Account

“Trust account” represents trust account with contracts indemnifying the principal amounts.

(1) Loans to Be Disclosed under the Banking Act and the FRA (after write-offs)


	(in millions of yen)
	As of September 30, 2024			As of March 31, 2024			Increase (Decrease)
Bankrupt or De facto Bankrupt		53,004			77,265			(24,261	)
Doubtful		846,149			904,052			(57,903	)
Special Attention		378,369			478,331			(99,961	)
Accruing loans contractually past due 3 months or more		11,011			19,163			(8,151	)
Restructured loans		367,358			459,167			(91,809	)
Subtotal (A)		1,277,523			1,459,649			(182,126	)
Normal(B)		118,893,861			116,726,530			2,167,331
Total loans (C=A+B)		120,171,384			118,186,179			1,985,205
Non-performing loans ratio (A)/(C)		1.06	%		1.23	%		(0.17	)%
Write-offs		169,096			181,926			(12,830	)

(2) Status of Coverage of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)


	(in millions of yen)
	As of September 30, 2024		Coverage ratio [(D)+(E)]/(A)			As of March 31, 2024		Coverage ratio [(D)+(E)]/(A)			Increase (Decrease)			Coverage ratio [(D)+(E)]/(A)
Covered amount		925,690		72.45	%		1,042,471		71.41	%		(116,781	)		1.04	%
Allowance for credit losses(D)		551,697		—			609,945		—			(58,247	)		—
Collateral, guarantees, etc.(E)		373,992		—			432,525		—			(58,533	)		—

(3) Coverage Ratio

(in millions of yen)

Category

Loan
amount (A)

Allowance for
credit losses
(D)

Covered by
collateral and/or
guarantees
(E)

Allowance coverage
ratio for unsecured
portion
(D) / [(A) - (E)]

Coverage ratio
[(D)+(E)]/(A)

Bankrupt or De facto Bankrupt

53,004

1,396

51,607

—

100.00

[ 77,265

]

[5,358

]

[71,907

]

—

[100.00

Doubtful

846,149

417,499

151,604

—

67.25

[904,052

]

[441,031

]

[161,324

]

—

[66.62

Special Attention

378,369

132,802

170,779

—

80.23

[478,331

]

[163,555

]

[199,294

]

—

[75.85

Total

1,277,523

551,697

373,992

—

72.45

[1,459,649

]

[609,945

]

[432,525

]

—

[71.41

Note: The upper figures are as of September 30, 2024. The lower figures with brackets are as of March 31, 2024.

(4) Classification of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)


	(in millions of yen)
Classified by Geographic Area	As of September 30, 2024		As of March 31, 2024		Increase (Decrease)
Domestic		597,203		621,995		(24,791	)
Overseas		680,319		837,654		(157,334	)
Asia		69,649		89,421		(19,771	)
Indonesia		881		—		881
Singapore		740		12,752		(12,012	)
Thailand		—		—		—
Other		68,027		76,669		(8,641	)
Americas		488,735		601,518		(112,783	)
Europe, Middle East and Other		121,934		146,713		(24,779	)
Total		1,277,523		1,459,649		(182,126	)


	(in millions of yen)
Classified by Industry	As of September 30, 2024		As of March 31, 2024		Increase (Decrease)
Domestic		597,203		621,995		(24,791	)
Manufacturing		307,297		282,469		24,827
Construction		6,863		8,050		(1,187	)
Wholesale and retail		76,375		85,689		(9,313	)
Finance and insurance		12,469		14,088		(1,618	)
Real estate		20,998		22,960		(1,962	)
Goods rental and leasing		11,138		14,393		(3,255	)
Services		64,741		80,619		(15,878	)
Other industries		39,971		47,998		(8,027	)
Consumer		57,347		65,724		(8,377	)
Overseas		680,319		837,654		(157,334	)
Financial institutions		2,550		2,611		(60	)
Commercial and industrial		677,676		834,942		(157,266	)
Other		91		99		(7	)
Total		1,277,523		1,459,649		(182,126	)

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(1) Loans to Be Disclosed under the Banking Act and the FRA (after write-offs)


	(in millions of yen)
	As of September 30, 2024			As of March 31, 2024			Increase (Decrease)
Bankrupt or De facto Bankrupt		52,965			77,210			(24,245	)
Doubtful		845,183			902,706			(57,523	)
Special Attention		378,369			478,331			(99,961	)
Accruing loans contractually past due 3 months or more		11,011			19,163			(8,151	)
Restructured loans		367,358			459,167			(91,809	)
Subtotal (A)		1,276,518			1,458,248			(181,730	)
Normal(B)		116,430,816			114,178,105			2,252,711
Total loans (C=A+B)		117,707,334			115,636,353			2,070,981
Non-performing loans ratio (A)/(C)		1.08	%		1.26	%		(0.17	)%
Write-offs		169,074			181,894			(12,819	)

(2) Status of Coverage of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)


	(in millions of yen)
	As of September 30, 2024		Coverage ratio [(D)+(E)]/(A)			As of March 31, 2024		Coverage ratio [(D)+(E)]/(A)			Increase (Decrease)			Coverage ratio [(D)+(E)]/(A)
Covered amount		924,685		72.43	%		1,041,070		71.39	%		(116,384	)		1.04	%
Allowance for credit losses(D)		551,697		—			609,945		—			(58,247	)		—
Collateral, guarantees, etc.(E)		372,987		—			431,124		—			(58,137	)		—

(3) Coverage Ratio

(in millions of yen)

Category

Loan amount
(A)

Allowance for
credit losses
(D)

Covered by
collateral and/or
guarantees
(E)

Allowance coverage
ratio for unsecured
portion
(D) / [(A) - (E)]

Coverage ratio
[(D)+(E)]/(A)

Bankrupt or De facto Bankrupt

52,965

1,396

51,568

100.00

[77,210

]

[ 5,358

]

[71,852

]

[100.00

Doubtful

845,183

417,499

150,638

60.11

67.22

[902,706

]

[441,031

]

[159,978

]

[59.37

[66.57

Special Attention

378,369

132,802

170,779

63.97

80.23

[478,331

]

[163,555

]

[199,294

]

[58.61

[75.85

Total

1,276,518

551,697

372,987

61.06

72.43

[1,458,248

]

[609,945

]

[431,124

]

[59.38

[71.39

Note: The upper figures are as of September 30, 2024. The lower figures with brackets are as of March 31, 2024.

(4) Classification of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)


	(in millions of yen)
Classified by Geographic Area	As of September 30, 2024		As of March 31, 2024		Increase (Decrease)
Domestic		596,198		620,594		(24,395	)
Overseas		680,319		837,654		(157,334	)
Asia		69,649		89,421		(19,771	)
Indonesia		881		—		881
Singapore		740		12,752		(12,012	)
Thailand		—		—		—
Other		68,027		76,669		(8,641	)
Americas		488,735		601,518		(112,783	)
Europe, Middle East and Other		121,934		146,713		(24,779	)
Total		1,276,518		1,458,248		(181,730	)


	(in millions of yen)
Classified by Industry	As of September 30, 2024		As of March 31, 2024		Increase (Decrease)
Domestic		596,198		620,594		(24,395	)
Manufacturing		307,297		282,469		24,827
Construction		6,863		8,050		(1,187	)
Wholesale and retail		76,375		85,689		(9,313	)
Finance and insurance		12,469		14,088		(1,618	)
Real estate		20,998		22,960		(1,962	)
Goods rental and leasing		11,138		14,393		(3,255	)
Services		64,741		80,619		(15,878	)
Other industries		39,971		47,998		(8,027	)
Consumer		56,342		64,323		(7,981	)
Overseas		680,319		837,654		(157,334	)
Financial institutions		2,550		2,611		(60	)
Commercial and industrial		677,676		834,942		(157,266	)
Other		91		99		(7	)
Total		1,276,518		1,458,248		(181,730	)

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Loans to Be Disclosed under the Banking Act and the FRA (after write-offs)


	(in millions of yen)
	As of September 30, 2024			As of March 31, 2024			Increase (Decrease)
Bankrupt or De facto Bankrupt		38			54			(16	)
Doubtful		965			1,346			(380	)
Special Attention		—			—			—
Accruing loans contractually past due 3 months or more		—			—			—
Restructured loans		—			—			—
Subtotal (A)		1,004			1,401			(396	)
Normal(B)		2,460,272			2,545,305			(85,032	)
Total loans (C=A+B)		2,461,277			2,546,706			(85,428	)
Non-performing loans ratio (A)/(C)		0.04	%		0.05	%		(0.01	)%
Write-offs		21			31			(10	)

(2) Status of Coverage of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)


	(in millions of yen)
	As of September 30, 2024		Coverage ratio [(D)+(E)]/(A)			As of March 31, 2024		Coverage ratio [(D)+(E)]/(A)			Increase (Decrease)			Coverage ratio [(D)+(E)]/(A)
Covered amount		1,004		100.00	%		1,401		100.00	%		(396	)		—
Allowance for credit losses(D)		—		—			—		—			—			—
Collateral, guarantees, etc.(E)		1,004		—			1,401		—			(396	)		—

(3) Coverage Ratio

(in millions of yen)

Category

Loan amount
(A)

Allowance for
credit losses
(D)

Covered by
collateral and/or
guarantees
(E)

Allowance coverage
ratio for unsecured
portion
(D) / [(A) - (E)]

Coverage ratio
[(D)+(E)]/(A)

Bankrupt or De facto Bankrupt

—

100.00

[54

]

[—

]

[54

]

[—

]

[100.00

Doubtful

965

—

965

—

100.00

[1,346

]

[—

]

[1,346

]

[—

]

[100.00

Special Attention

—

[—

]

[—

]

[—

]

[—

]

[—

]

Total

1,004

—

1,004

—

100.00

[1,401

]

[—

]

[1,401

]

[—

]

[100.00

Note: The upper figures are as of September 30, 2024. The lower figures with brackets are as of March 31, 2024.

(4) Classification of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)


	(in millions of yen)
Classified by Geographic Area	As of September 30, 2024		As of March 31, 2024		Increase (Decrease)
Domestic		1,004		1,401		(396	)
Overseas		—		—		—
Asia		—		—		—
Indonesia		—		—		—
Singapore		—		—		—
Thailand		—		—		—
Other		—		—		—
Americas		—		—		—
Europe, Middle East and Other		—		—		—
Total		1,004		1,401		(396	)


	(in millions of yen)
Classified by Industry	As of September 30, 2024		As of March 31, 2024		Increase (Decrease)
Domestic		1,004		1,401		(396	)
Manufacturing		—		—		—
Construction		—		—		—
Wholesale and retail		—		—		—
Finance and insurance		—		—		—
Real estate		—		—		—
Goods rental and leasing		—		—		—
Services		—		—		—
Other industries		—		—		—
Consumer		1,004		1,401		(396	)
Overseas		—		—		—
Financial institutions		—		—		—
Commercial and industrial		—		—		—
Other		—		—		—
Total		1,004		1,401		(396	)

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated: Trust Account

“Trust account” represents trust account with contracts indemnifying the principal amounts.

(1) Loans to Be Disclosed under the Banking Act and the FRA (after write-offs)


	(in millions of yen)
	As of September 30, 2024		As of March 31, 2024		Increase (Decrease)
Bankrupt or De facto Bankrupt		—		—		—
Doubtful		—		—		—
Special Attention		—		—		—
Accruing loans contractually past due 3 months or more		—		—		—
Restructured loans		—		—		—
Subtotal (A)		—		—		—
Normal(B)		2,772		3,119		(347	)
Total loans (C=A+B)		2,772		3,119		(347	)
Non-performing loans ratio (A)/(C)		—		—		—
Write-offs		—		—		—

(2) Status of Coverage of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)

(in millions of yen)

As of
September 30, 2024

Coverage ratio
[(D)+(E)]/(A)

As of
March 31, 2024

Coverage ratio
[(D)+(E)]/(A)

Increase
(Decrease)

Coverage ratio
[(D)+(E)]/(A)

Covered amount

—

Allowance for credit losses(D)

—

Collateral, guarantees, etc.(E)

—

(3) Coverage Ratio

(in millions of yen)

Category

Loan amount
(A)

Allowance for
credit losses
(D)

Covered by
collateral and/or
guarantees
(E)

Allowance coverage
ratio for unsecured
portion
(D) / [(A) - (E)]

Coverage ratio
[(D)+(E)]/(A)

Bankrupt or De facto Bankrupt

—

[—

]

[—

]

[—

]

[—

]

[—

]

Doubtful

—

[—

]

[—

]

[—

]

[—

]

[—

]

Special Attention

—

[—

]

[—

]

[—

]

[—

]

[—

]

Total

—

[—

]

[—

]

[—

]

[—

]

[—

]

Note: The upper figures are as of September 30, 2024. The lower figures with brackets are as of March 31, 2024.

(4) Classification of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)

(in millions of yen)

Classified by Industry

As of
September 30, 2024

As of
March 31, 2024

Increase
(Decrease)

Domestic

—

Manufacturing

—

Construction

—

Wholesale and retail

—

Finance and insurance

—

Real estate

—

Goods rental and leasing

—

Services

—

Other industries

—

Consumer

—

Total

—

Mitsubishi UFJ Financial Group, Inc.

Overview of Self-Assessment, Status of Coverage, and Loans to Be Disclosed under the Banking Act and the FRA

BK and TB Combined

(in billions of yen)

LOGO

(*)	“Customers’ liabilities for acceptances and guarantees” in Classification IV are fully reserved.

Mitsubishi UFJ Financial Group, Inc.

8. Progress in Disposition of Problem Assets

BK Non-consolidated

(1) Bankrupt or De facto Bankrupt and Doubtful Assets Based on the “FRA”


	(in millions of yen)
	As of March 31, 2022		As of March 31, 2023		As of March 31, 2024(A)		As of September 30, 2024(B)		(B) - (A)
Assets newly categorized during fiscal 2021		321,978		110,451		68,032		61,835		(6,196	)
Assets newly categorized during fiscal 2022				240,324		114,818		90,618		(24,200	)
Assets newly categorized during fiscal 2023						642,712		466,442		(176,269	)
Assets newly categorized during fiscal 2024								147,078

(2) Progress in Disposition of Problem Assets


	(in millions of yen)
	For the first half of the fiscal year ended September 30, 2024
			Bankrupt or De facto Bankrupt		Doubtful
Liquidation		4,658		—		—
Reconstructive treatment		25,263		—		—
Upgrade due to reconstructive treatment		—		—		—
Loan sold to secondary market		99,112		—		—
Write-offs		4,432		—		—
Others		95,380		—		—
Collection / Repayment		67,198		—		—
Upgrade		28,181		—		—
Total		228,847		37,446		191,400
Amount in process for disposition		44,654

Note:

The process for disposition consists of legal liquidation, quasi-legal liquidation, company splits to good companies and bad companies, partial direct write-offs of retail exposure to individuals and small/medium-sized companies, and trusts to The Resolution and Collection Corporation mainly for the purpose of revitalization of companies, which are scheduled to be off-balanced before their maturities.

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated including Trust Account

“Trust account” represents trust account with contracts indemnifying the principal amounts.

(1) Bankrupt or De facto Bankrupt and Doubtful Assets Based on the “FRA”


	(in millions of yen)
	As of March 31, 2022		As of March 31, 2023		As of March 31, 2024(A)		As of September 30, 2024(B)		(B) - (A)
Assets newly categorized during fiscal 2021		635		272		204		105		(98	)
Assets newly categorized during fiscal 2022				986		262		121		(141	)
Assets newly categorized during fiscal 2023						410		245		(164	)
Assets newly categorized during fiscal 2024								180

(2) Progress in Disposition of Problem Assets


	(in millions of yen)
	For the first half of the fiscal year ended September 30, 2024
			Bankrupt or De facto Bankrupt		Doubtful
Liquidation		—		—		—
Reconstructive treatment		—		—		—
Upgrade due to reconstructive treatment		—		—		—
Loan sold to secondary market		—		—		—
Write-offs		—		—		—
Others		576		—		—
Collection / Repayment		127		—		—
Upgrade		449		—		—
Total		576		14		561
Amount in process for disposition		81

Note:

Mitsubishi UFJ Financial Group, Inc.

9. Loans Classified by Type of Industry

BK and TB Combined including Trust Accounts

Loans Classified by Type of Industry


	(in millions of yen)
	As of September 30, 2024 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2024 (B)
Domestic offices (excluding loans booked at offshore markets)		76,370,243		5,027,440			71,342,802
Manufacturing		11,869,276		268,706			11,600,570
Agriculture, forestry, fishery, mining, quarrying of stone and gravel		87,047		(6,140	)		93,187
Construction		1,087,738		160,489			927,249
Utilities		2,569,956		(84,948	)		2,654,904
Communication and information services		1,358,986		108,163			1,250,823
Transport and postal activities		2,229,530		43,973			2,185,557
Wholesale and retail		6,273,215		(268,410	)		6,541,625
Finance and insurance		9,116,938		(438,141	)		9,555,080
Real estate		10,971,305		194,195			10,777,110
Goods rental and leasing		2,517,914		(78,951	)		2,596,865
Services		3,498,010		762,505			2,735,505
Municipal government		1,548,441		6,160			1,542,281
Other industries (including loans to the Japanese government)		23,241,884		4,359,839			18,882,044

Overseas offices and loans booked at offshore markets		34,055,458		(1,836,917	)		35,892,376

Governments		396,927		82,264			314,663
Financial Institutions		13,131,081		(375,957	)		13,507,038
Other		20,527,449		(1,543,224	)		22,070,674

Total		110,425,702		3,190,523			107,235,179

Mitsubishi UFJ Financial Group, Inc.


BK Non-consolidated
Loans Classified by Type of Industry
	(in millions of yen)
	As of September 30, 2024 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2024 (B)
Domestic offices (excluding loans booked at offshore markets)		74,016,836		5,365,368			68,651,467
Manufacturing		11,867,876		268,706			11,599,170
Agriculture, forestry, fishery, mining, quarrying of stone and gravel		87,047		(6,140	)		93,187
Construction		1,087,738		160,489			927,249
Utilities		2,569,956		(84,948	)		2,654,904
Communication and information services		1,349,420		107,631			1,241,789
Transport and postal activities		2,214,530		43,973			2,170,557
Wholesale and retail		6,273,215		(268,410	)		6,541,625
Finance and insurance		7,771,778		(325,052	)		8,096,830
Real estate		10,936,618		188,872			10,747,746
Goods rental and leasing		2,517,914		(78,951	)		2,596,865
Services		3,497,493		762,513			2,734,980
Municipal government		1,548,195		6,175			1,542,020
Other industries (including loans to the Japanese government)		22,295,056		4,590,511			17,704,545

Overseas offices and loans booked at offshore markets		32,916,056		(1,877,460	)		34,793,516

Governments		396,927		82,264			314,663
Financial Institutions		11,991,705		(416,506	)		12,408,212
Other		20,527,423		(1,543,217	)		22,070,640

Total		106,932,892		3,487,908			103,444,984

Mitsubishi UFJ Financial Group, Inc.


TB Non-consolidated
Loans Classified by Type of Industry
	(in millions of yen)
	As of September 30, 2024 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2024 (B)
Domestic offices (excluding loans booked at offshore markets)		1,057,573		(63,793	)		1,121,366
Manufacturing		—		—			—
Agriculture, forestry, fishery, mining, quarrying of stone and gravel		—		—			—
Construction		—		—			—
Utilities		—		—			—
Communication and information services		9,566		532			9,034
Transport and postal activities		—		—			—
Wholesale and retail		—		—			—
Finance and insurance		352,466		144,515			207,951
Real estate		9,006		5,477			3,529
Goods rental and leasing		—		—			—
Services		517		(7	)		525
Municipal government		—		—			—
Other industries (including loans to the Japanese government)		686,015		(214,310	)		900,326

Overseas offices and loans booked at offshore markets		1,139,402		40,542			1,098,859

Governments		—		—			—
Financial Institutions		1,139,376		40,549			1,098,826
Other		25		(7	)		33

Total		2,196,975		(23,250	)		2,220,225

Mitsubishi UFJ Financial Group, Inc.


TB Non-consolidated: Trust Accounts
Loans Classified by Type of Industry
	(in millions of yen)
	As of September 30, 2024 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2024 (B)
Domestic offices (excluding loans booked at offshore markets)		1,295,834		(274,134	)		1,569,969
Manufacturing		1,400		—			1,400
Agriculture, forestry, fishery, mining, quarrying of stone and gravel		—		—			—
Construction		—		—			—
Utilities		—		—			—
Communication and information services		—		—			—
Transport and postal activities		15,000		—			15,000
Wholesale and retail		—		—			—
Finance and insurance		992,693		(257,605	)		1,250,299
Real estate		25,681		(153	)		25,835
Goods rental and leasing		—		—			—
Services		—		—			—
Municipal government		246		(14	)		261
Other industries (including loans to the Japanese government)		260,812		(16,360	)		277,173

Overseas offices and loans booked at offshore markets		—		—			—

Governments		—		—			—
Financial Institutions		—		—			—
Other		—		—			—

Total		1,295,834		(274,134	)		1,569,969

Mitsubishi UFJ Financial Group, Inc.


10. Domestic Consumer Loans, Domestic Loans to Small/Medium-Sized Companies and Proprietors
BK and TB Combined including Trust Accounts
(1) Domestic Consumer Loans
	(in millions of yen)
	As of September 30, 2024 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2024 (B)
Total domestic consumer loans		14,858,659			(96,072	)		14,954,731
Housing loans		14,125,944			(110,306	)		14,236,251
Residential purpose		12,492,218			(67,186	)		12,559,404
Other		732,714			14,234			718,480
(2) Domestic Loans to Small/Medium-Sized Companies and Proprietors
	(in millions of yen)
	As of September 30, 2024 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2024 (B)
Outstanding amount		41,385,348			365,239			41,020,108
% to total domestic loans		54.19	%		(3.30	)%		57.49	%
BK Non-consolidated
(1) Domestic Consumer Loans
	(in millions of yen)
	As of September 30, 2024 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2024 (B)
Total domestic consumer loans		14,255,255			(60,006	)		14,315,262
Housing loans		13,523,002			(74,360	)		13,597,362
Residential purpose		11,889,600			(31,261	)		11,920,862
Other		732,253			14,354			717,899
(2) Domestic Loans to Small/Medium-Sized Companies and Proprietors
	(in millions of yen)
	As of September 30, 2024 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2024 (B)
Outstanding amount		40,404,594			423,141			39,981,453
% to total domestic loans		54.58	%		(3.64	)%		58.23	%
TB Non-consolidated
(1) Domestic Consumer Loans
	(in millions of yen)
	As of September 30, 2024 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2024 (B)
Total domestic consumer loans		601,040			(35,865	)		636,906
Housing loans		600,579			(35,746	)		636,325
Residential purpose		600,257			(35,726	)		635,984
Other		460			(119	)		580
(2) Domestic Loans to Small/Medium-Sized Companies and Proprietors
	(in millions of yen)
	As of September 30, 2024 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2024 (B)
Outstanding amount		739,953			(45,870	)		785,824
% to total domestic loans		69.96	%		(0.11	)%		70.07	%
TB Non-consolidated: Trust Accounts
(1) Domestic Consumer Loans
	(in millions of yen)
	As of September 30, 2024 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2024 (B)
Total domestic consumer loans		2,363			(199	)		2,563
Housing loans		2,363			(199	)		2,563
Residential purpose		2,359			(198	)		2,557
Other		—			—			—
(2) Domestic Loans to Small/Medium-Sized Companies and Proprietors
	(in millions of yen)
	As of September 30, 2024 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2024 (B)
Outstanding amount		240,800			(12,030	)		252,831
% to total domestic loans		18.58	%		2.47	%		16.10	%

Mitsubishi UFJ Financial Group, Inc.

11. Overseas Loans

BK Consolidated excl. KS, BDI


	(in millions of yen)
	As of September 30, 2024 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2024 (B)
Americas		13,939,048		(1,628,478	)		15,567,526
United States		12,051,216		(1,422,852	)		13,474,068
Canada		693,203		(56,145	)		749,349
Brazil		395,604		(58,298	)		453,903
Mexico		314,723		(17,208	)		331,932
Others		484,299		(73,973	)		558,272

Asia/Oceania		11,369,380		(732,618	)		12,101,999
Australia		1,851,928		126,975			1,724,953
Hong Kong		1,781,309		(290,694	)		2,072,004
India		1,496,556		138,285			1,358,270
Singapore		1,403,766		(53,409	)		1,457,176
China		1,222,455		(301,374	)		1,523,829
Indonesia		943,803		(164,732	)		1,108,536
Malaysia		613,893		(127,886	)		741,780
Korea		515,167		(86,925	)		602,093
Taiwan		477,306		62,133			415,172
New Zealand		370,306		(54,429	)		424,736
Philippines		295,984		20,130			275,854
Others		396,900		(691	)		397,591

EMEA		8,710,788		(836,060	)		9,546,849
United Kingdom		2,121,672		112,412			2,009,259
Netherlands		1,061,672		(72,218	)		1,133,891
Germany		672,686		(121,773	)		794,459
France		597,050		(134,380	)		731,430
Ireland		512,742		70,413			442,328
Luxembourg		449,664		(142,537	)		592,202
Italy		237,448		8,390			229,058
Saudi Arabia		232,858		11,484			221,374
Qatar		228,575		(25,987	)		254,562
Switzerland		223,874		(10,773	)		234,648
Belgium		190,897		45,690			145,207
Turkey		185,498		(18,402	)		203,900
Spain		149,032		(53,300	)		202,333
United Arab Emirates		131,647		(21,464	)		153,111
Mauritius		91,999		(64,853	)		156,852
Sweden		70,588		(36,875	)		107,463
Russia		70,457		(39,337	)		109,794
Others		1,482,420		(342,548	)		1,824,968

Total		34,019,217		(3,197,157	)		37,216,375

KS and BDI have the following loan balances in the consolidated financial statements.
	(in millions of yen)
	As of September 30, 2024 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2024 (B)
KS		6,517,787		181,526			6,336,261
BDI		1,606,868		190,200			1,416,667

Mitsubishi UFJ Financial Group, Inc.

12. Loans and Deposits

BK and TB Combined


	(in millions of yen)
	As of September 30, 2024 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2024 (B)
Deposits (ending balance)		210,134,595		(2,679,334	)		212,813,930
Deposits (average balance)		214,723,272		4,290,470			210,432,802
Loans (ending balance)		109,129,868		3,464,657			105,665,210
Loans (average balance)		108,691,754		2,449,814			106,241,940
BK Non-consolidated
	(in millions of yen)
	As of September 30, 2024 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2024 (B)
Deposits (ending balance)		196,646,276		(3,418,311	)		200,064,588
Deposits (average balance)		200,926,336		2,689,893			198,236,443
Loans (ending balance)		106,932,892		3,487,908			103,444,984
Loans (average balance)		106,509,048		2,571,162			103,937,886
TB Non-consolidated
	(in millions of yen)
	As of September 30, 2024 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2024 (B)
Deposits (ending balance)		13,488,319		738,977			12,749,342
Deposits (average balance)		13,796,935		1,600,576			12,196,358
Loans (ending balance)		2,196,975		(23,250	)		2,220,225
Loans (average balance)		2,182,706		(121,347	)		2,304,054

Mitsubishi UFJ Financial Group, Inc.

13. Domestic Deposits

BK and TB Combined

(in millions of yen)

As of
September 30, 2024
(A)

Increase
(Decrease)
(A) - (B)

As of
March 31, 2024
(B)

Individuals

93,072,644

346,081

92,726,562

Corporations and others

83,688,923

137,772

83,551,151

Domestic deposits

176,761,568

483,854

176,277,713

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


BK Non-consolidated
	(in millions of yen)
	As of September 30, 2024 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2024 (B)
Individuals		87,014,988		252,318			86,762,670
Corporations and others		78,617,423		(465,827	)		79,083,251
Domestic deposits		165,632,411		(213,509	)		165,845,921

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

TB Non-consolidated

(in millions of yen)

As of
September 30, 2024
(A)

Increase
(Decrease)
(A) - (B)

As of
March 31, 2024
(B)

Individuals

6,057,656

93,763

5,963,892

Corporations and others

5,071,500

603,600

4,467,899

Domestic deposits

11,129,156

697,364

10,431,792

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

Mitsubishi UFJ Financial Group, Inc.

14. Status of Deferred Tax Assets

BK Non-consolidated

(1) Tax Effects of the Items Comprising Net Deferred Tax Assets



	(in billions of yen)
	As of September 30, 2024 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2024 (B)
Deferred tax assets		1,088.9			(132.6	)		1,221.6
Allowance for credit losses		267.3			(33.4	)		300.8
Write-down on investment securities		361.8			4.7			357.0
Unrealized losses on Available-for-sale securities		45.3			(88.4	)		133.7
Reserve for retirement benefits		70.3			(4.8	)		75.1
Reserve for contingent losses		20.1			(2.2	)		22.3
Depreciation and Impairment losses		79.7			(5.2	)		85.0
Devaluation on land upon merger		20.1			(0.1	)		20.2
Net deferred losses on hedging instruments		380.8			20.1			360.7
Other		225.5			(24.7	)		250.3
Valuation allowance		(382.3	)		1.6			(384.0	)
Deferred tax liabilities		786.0			(169.6	)		955.6
Unrealized gains on Available-for-sale securities		547.3			(200.5	)		747.9
Revaluation gains on securities upon merger		39.4			(4.9	)		44.4
Gains on securities contributed to employees’ retirement benefits trust		42.3			(0.2	)		42.6
Other		156.9			36.2			120.6

Net deferred tax assets		302.9			36.9			265.9

(2) Net operating profits before provision for general allowance for credit losses and Taxable Income


	(in billions of yen)
	FY2019			FY2020			FY2021			FY2022			FY2023			Interim FY2024
Net operating profits before provision for general allowance for credit losses		395.2			388.0			374.4			690.4			974.6			685.8
Total credit costs		11.8			(223.3	)		(234.0	)		(98.5	)		(250.2	)		19.8
Income before income taxes		(535.9	)		205.5			286.1			1,239.5			994.7			963.9
Reconciliation to taxable income		844.6			98.5			343.3			(453.8	)		(50.5	)		(256.1	)
Taxable income		308.7			304.1			629.5			785.7			944.2			707.8

(3) Classification Based on Prior Year Operating Results as Provided in the ASBJ Guidance No.26

We are classified as “2” because we are considered to be a company showing stable financial performance.

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Tax Effects of the Items Comprising Net Deferred Tax Assets



	(in billions of yen)
	As of September 30, 2024 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2024 (B)
Deferred tax assets		72.3			(1.0	)		73.4
Gains on securities related to employees’ retirement benefits trust		53.2			1.0			52.2
Depreciation and Impairment losses		12.9			2.8			10.1
Write-down on investment securities		8.5			0.8			7.7
Group tax sharing transactions		4.4			(1.8	)		6.3
Reserve for contingent losses		1.8			(0.3	)		2.1
Net deferred losses on hedging instruments		0.2			0.2			—
Other		18.7			0.4			18.2
Valuation allowance		(27.7	)		(4.2	)		(23.4	)
Deferred tax liabilities		228.5			(34.6	)		263.1
Reserve for retirement benefits		126.0			11.6			114.4
Unrealized gains on Available-for-sale securities		86.0			(13.1	)		99.2
Net deferred gains on hedging instruments		—			(35.0	)		35.0
Other		16.4			1.9			14.4

Net deferred tax assets		(156.2	)		33.5			(189.7	)

(2) Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses and Taxable Income


	(in billions of yen)
	FY2019			FY2020			FY2021			FY2022			FY2023			Interim FY2024
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		142.3			132.3			176.4			109.1			70.4			119.9
Total credit costs		0.8			0.0			0.1			(0.2	)		(0.1	)		0.2
Income before income taxes		148.6			129.4			210.6			165.7			75.1			216.6
Reconciliation to taxable income		(39.3	)		(26.5	)		(37.4	)		(46.1	)		(17.1	)		(102.2	)
Taxable income		109.3			102.9			173.1			119.6			57.9			114.3

(3) Classification Based on Prior Year Operating Results as Provided in the ASBJ Guidance No.26

We are classified as “2” because we are considered to be a company showing stable financial performance.

Mitsubishi UFJ Financial Group, Inc.

(Reference)

1. Financial Statements

BK Non-consolidated

(1) Non-consolidated Balance Sheets (selected items)


(in millions of yen)	As of March 31, 2024			As of September 30, 2024
Assets:
Cash and due from banks		89,284,902			88,259,382
Call loans		1,266,925			1,275,665
Receivables under resale agreements		1,241,358			1,188,621
Monetary claims bought		4,730,143			4,155,664
Trading assets		6,263,383			6,308,128
Money held in trust		37,178			39,074
Securities		69,957,384			64,917,046
Loans and bills discounted		103,444,984			106,932,892
Foreign exchanges		2,030,007			1,289,220
Other assets		10,604,231			9,138,477
Tangible fixed assets		688,751			671,496
Intangible fixed assets		493,516			491,425
Prepaid pension costs		730,933			777,542
Deferred tax assets		265,948			302,932
Customers’ liabilities for acceptances and guarantees		9,335,180			8,771,061
Allowance for credit losses		(841,518	)		(740,520	)

Total assets		299,533,310			293,778,114

Mitsubishi UFJ Financial Group, Inc.


(in millions of yen)	As of March 31, 2024			As of September 30, 2024
Liabilities:
Deposits		200,064,588			196,646,276
Negotiable certificates of deposit		10,912,738			12,416,350
Call money		683,360			416,739
Payables under repurchase agreements		14,790,983			15,664,840
Commercial papers		2,807,589			2,795,179
Trading liabilities		3,355,951			2,710,841
Borrowed money		34,810,924			32,342,019
Foreign exchanges		3,719,588			3,891,992
Bonds payable		1,250,571			1,057,012
Other liabilities		8,105,838			7,542,411
Reserve for bonuses		85,950			48,449
Reserve for bonuses to directors		148			89
Reserve for stocks payment		4,597			3,450
Reserve for retirement benefits		20,421			18,493
Reserve for contingent losses		73,000			65,694
Deferred tax liabilities for land revaluation		82,942			80,544
Acceptances and guarantees		9,335,180			8,771,061

Total liabilities		290,104,373			284,471,444

Net assets:
Capital stock		1,711,958			1,711,958
Capital surplus		3,878,275			3,878,275
Capital reserve		1,711,958			1,711,958
Other capital surplus		2,166,317			2,166,317
Retained earnings		3,637,579			3,817,801
Revenue reserve		190,044			190,044
Other retained earnings		3,447,534			3,627,756
Funds for retirement benefits		2,432			2,432
Reserve for investment promotion taxation		260			260
Other reserve		718,196			718,196
Earned surplus brought forward		2,726,645			2,906,867
Treasury stock		(645,700	)		(645,700	)

Total shareholders’ equity		8,582,112			8,762,334

Net unrealized gains (losses) on available-for-sale securities		1,499,245			1,243,936
Net deferred gains (losses) on hedging instruments		(814,862	)		(860,460	)
Land revaluation excess		162,441			160,858

Total valuation and translation adjustments		846,824			544,335

Total net assets		9,428,937			9,306,669

Total liabilities and net assets		299,533,310			293,778,114

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(2) Non-consolidated Statements of Income (selected items)


(in millions of yen)	For the six months ended September 30, 2023		For the six months ended September 30, 2024
Ordinary income		3,317,956		3,572,670
Interest income		2,444,083		2,588,190
Interest on loans and bills discounted		1,476,329		1,515,370
Interest and dividends on securities		486,495		575,220
Fees and commissions		382,028		400,157
Trading income		68,368		34,346
Other operating income		268,181		230,823
Other ordinary income		155,294		319,153
Ordinary expenses		2,592,418		2,612,876
Interest expenses		1,632,621		1,780,905
Interest on deposits		787,522		880,284
Fees and commissions		74,938		80,963
Trading expenses		1,804		2,150
Other operating expenses		112,206		48,678
General and administrative expenses		663,478		632,399
Other ordinary expenses		107,369		67,779

Ordinary profits		725,537		959,794

Extraordinary gains		15,637		8,168
Extraordinary losses		17,413		3,965

Income before income taxes		723,761		963,997

Income taxes - current		121,227		155,314
Income taxes - deferred		17,431		93,929

Total taxes		138,658		249,243

Net income		585,102		714,753

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Non-consolidated Balance Sheets (selected items)


(in millions of yen)	As of March 31, 2024			As of September 30, 2024
Assets:
Cash and due from banks		13,589,516			13,797,679
Call loans		320,000			570,000
Receivables under resale agreements		81,636			99,910
Receivables under securities borrowing transactions		151,538			114,393
Monetary claims bought		15			15
Trading assets		70,459			63,702
Money held in trust		14,824			13,967
Securities		16,050,790			14,764,441
Loans and bills discounted		2,220,225			2,196,975
Foreign exchanges		281,805			224,195
Other assets		2,124,530			1,491,731
Tangible fixed assets		125,067			111,393
Intangible fixed assets		91,078			93,924
Prepaid pension costs		492,768			530,779
Customers’ liabilities for acceptances and guarantees		39,201			34,376
Allowance for credit losses		(966	)		(1,097	)

Total assets		35,652,492			34,106,388

Mitsubishi UFJ Financial Group, Inc.


(in millions of yen)	As of March 31, 2024			As of September 30, 2024
Liabilities:
Deposits		12,749,342			13,488,319
Negotiable certificates of deposit		5,385,777			4,852,366
Call money		1,493,171			2,198,956
Payables under repurchase agreements		6,191,612			5,563,260
Payables under securities lending transactions		—			7,208
Commercial papers		234,941			239,381
Trading liabilities		218,314			200,310
Borrowed money		2,087,312			1,678,686
Foreign exchanges		367,658			514,438
Short-term bonds payable		230,987			230,890
Bonds payable		30,000			30,000
Due to trust accounts		3,199,300			1,704,014
Other liabilities		1,038,897			1,049,541
Reserve for bonuses		5,571			5,499
Reserve for bonuses to directors		102			58
Reserve for stocks payment		3,891			3,060
Reserve for contingent losses		7,100			5,932
Deferred tax liabilities		189,776			156,232
Deferred tax liabilities for land revaluation		3,689			3,689
Acceptances and guarantees		39,201			34,376

Total liabilities		33,476,650			31,966,225

Net assets:
Capital stock		324,279			324,279
Capital surplus		455,970			455,970
Capital reserve		250,619			250,619
Other capital surplus		205,351			205,351
Retained earnings		1,358,924			1,436,781
Revenue reserve		73,714			73,714
Other retained earnings		1,285,210			1,363,067
Funds for retirement benefits		710			710
Reserve for investment promotion taxation		281			281
Other reserve		138,495			138,495
Earned surplus brought forward		1,145,723			1,223,581
Treasury stock		(299,999	)		(299,999	)

Total shareholders’ equity		1,839,173			1,917,031

Net unrealized gains (losses) on available-for-sale securities		250,557			218,789
Net deferred gains (losses) on hedging instruments		85,588			3,816
Land revaluation excess		523			525

Total valuation and translation adjustments		336,668			223,131

Total net assets		2,175,842			2,140,162

Total liabilities and net assets		35,652,492			34,106,388

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(2) Non-consolidated Statements of Income (selected items)


(in millions of yen)	For the six months ended September 30, 2023			For the six months ended September 30, 2024
Ordinary income		717,169			834,449
Trust fees		58,464			61,807
Interest income		485,490			541,179
Interest on loans and bills discounted		34,401			45,191
Interest and dividends on securities		352,516			382,757
Fees and commissions		69,585			81,600
Trading income		19			436
Other operating income		75,292			38,753
Other ordinary income		28,318			110,672
Ordinary expenses		647,048			602,538
Interest expenses		410,606			443,344
Interest on deposits		47,721			60,290
Fees and commissions		26,343			28,263
Trading expenses		46,749			—
Other operating expenses		36,624			29,990
General and administrative expenses		105,632			94,737
Other ordinary expenses		21,091			6,202

Ordinary profits		70,121			231,911

Extraordinary gains		1,006			616
Extraordinary losses		2,353			15,884

Income before income taxes		68,773			216,643

Income taxes - current		19,639			36,292
Income taxes - deferred		(2,255	)		14,899

Total taxes		17,384			51,192

Net income		51,389			165,450

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(3) Statements of Trust Assets and Liabilities

Including trust assets under service-shared co-trusteeship


(in millions of yen)	As of March 31, 2024		As of September 30, 2024
Assets:
Loans and bills discounted		1,569,969		1,295,834
Securities		80,134,164		79,345,484
Beneficiary rights to the trust		145,116,404		165,092,352
Securities held in custody accounts		3,886,180		3,848,951
Monetary claims		34,138,163		36,172,835
Tangible fixed assets		22,750,084		23,725,850
Intangible fixed assets		186,122		208,228
Other claims		3,312,930		3,528,590
Call loans		4,455,397		5,506,491
Due from banking account		6,170,680		4,357,530
Cash and due from banks		6,181,323		7,102,904

Total		307,901,420		330,185,053

Liabilities:
Money trusts		37,371,516		36,364,765
Pension trusts		12,760,480		12,445,013
Property formation benefit trusts		5,738		5,238
Investment trusts		145,025,458		163,845,137
Money entrusted other than money trusts		7,167,100		6,866,252
Securities trusts		6,145,365		6,242,743
Monetary claim trusts		29,767,810		30,914,861
Equipment trusts		226,799		304,751
Land and fixtures trusts		18,425		18,396
Composite trusts		69,412,725		73,177,894

Total		307,901,420		330,185,053


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 26,247 millions of yen as of March 31, 2024 and 33,861 millions of yen as of September 30, 2024.

Detailed information for “Money trust” with contracts indemnifying the principal amounts

(including trusts for which beneficiary interests are re-entrusted)


(in millions of yen)	As of March 31, 2024		As of September 30, 2024
Assets:
Loans and bills discounted		3,119		2,772
Other		3,289,438		1,881,671

Total		3,292,557		1,884,443

Liabilities:
Principal		3,292,449		1,884,244
Allowance for bad debts		9		8
Other		99		190

Total		3,292,557		1,884,443

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(4) Major Items


(in millions of yen)	As of March 31, 2024		As of September 30, 2024
Total funds		68,272,855		67,155,703

Deposits		12,749,342		13,488,319
Negotiable certificates of deposit		5,385,777		4,852,366
Money trusts		37,371,516		36,364,765
Pension trusts		12,760,480		12,445,013
Property formation benefit trusts		5,738		5,238

Loans and bills discounted		3,790,194		3,492,809

Banking account		2,220,225		2,196,975
Trust account		1,569,969		1,295,834

Investment securities		96,184,954		94,109,926

Note:

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

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