SEC Info℠ | Home | Search | My Interests | Help | Sign In | Please Sign In | ||||||||||||||||||||
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 7/09/21 Mitsubishi Ufj Fin’l Group Inc. 20-F 3/31/21 214:63M Donnelley … Solutions/FA |
Document/Exhibit Description Pages Size 1: 20-F Annual Report HTML 7.58M 2: EX-1.C Corporation Meetings Regulations HTML 96K 3: EX-2.C Description of Securities HTML 135K 6: EX-13 Certifications Required by Rule 13A-14(B) or Rule HTML 65K 15D-14(B) 9: EX-99.A Capitalization and Indebtedness HTML 69K 10: EX-99.B Unaudited Reverse Reconciliation of Selected HTML 98K Financial Information 4: EX-11 Mufg Group Code of Conduct HTML 123K 5: EX-12 Certifications Required by Rule 13A-14(A) or Rule HTML 76K 15D-14(A) 7: EX-15.A Consent of Independent Registered Public HTML 62K Accounting Firm 8: EX-15.B Consent of Independent Registered Public HTML 62K Accounting Firm 17: R1 Cover Page HTML 133K 18: R2 Consolidated Balance Sheets HTML 217K 19: R3 Consolidated Balance Sheets (Parenthetical) HTML 96K 20: R4 Consolidated Statements of Income HTML 220K 21: R5 Consolidated Statements of Comprehensive Income HTML 105K 22: R6 Consolidated Statements of Equity HTML 169K 23: R7 Consolidated Statements of Equity (Parenthetical) HTML 66K 24: R8 Consolidated Statements of Cash Flows HTML 243K 25: R9 Basis of Financial Statements and Summary of HTML 167K Significant Accounting Policies [Text Block] 26: R10 Business Developments [Text Block] HTML 90K 27: R11 Investment Securities [Text Block] HTML 275K 28: R12 Loans and Allowance for Credit Losses [Text Block] HTML 549K 29: R13 Premises and Equipment [Text Block] HTML 80K 30: R14 Goodwill and Other Intangible Assets [Text Block] HTML 162K 31: R15 Lease Transactions [Text Block] HTML 130K 32: R16 Income Taxes [Text Block] HTML 206K 33: R17 Pledged Assets and Collateral [Text Block] HTML 84K 34: R18 Deposits [Text Block] HTML 76K 35: R19 Call Money and Funds Purchased [Text Block] HTML 71K 36: R20 Due to Trust Account, Short-term Borrowings and HTML 198K Long-term Debt [Text Block] 37: R21 Severance Indemnities and Pension Plans [Text HTML 403K Block] 38: R22 Other Assets and Liabilities [Text Block] HTML 136K 39: R23 Offsetting of Derivatives, Repurchase Agreements, HTML 138K and Securities Lending Transactions [Text Block] 40: R24 Repurchase Agreements, and Securities Lending HTML 130K Transactions Accounted for as Secured Borrowings [Text Block] 41: R25 Preferred Stock [Text Block] HTML 67K 42: R26 Common Stock and Capital Surplus [Text Block] HTML 81K 43: R27 Retained Earnings, Legal Reserve and Dividends HTML 75K [Text Block] 44: R28 Accumulated Other Comprehensive Income (Loss) HTML 338K [Text Block] 45: R29 Regulatory Capital Requirements [Text Block] HTML 239K 46: R30 Earnings Per Common Share Applicable to Common HTML 100K Shareholders of MUFG [Text Block] 47: R31 Derivative Financial Instruments [Text Block] HTML 258K 48: R32 Obligations under Guarantees and Other Off-balance HTML 143K Sheet Instruments [Text Block] 49: R33 Variable Interest Entities [Text Block] HTML 303K 50: R34 Contingent Liabilities [Text Block] HTML 69K 51: R35 Fees and Commissions Income [Text Block] HTML 94K 52: R36 Trading Account Profits and Losses [Text Block] HTML 80K 53: R37 Business Segments [Text Block] HTML 191K 54: R38 Foreign Activities [Text Block] HTML 129K 55: R39 Fair Value [Text Block] HTML 816K 56: R40 Parent Company Only Financial Information [Text HTML 169K Block] 57: R41 Subsequent Events [Text Block] HTML 67K 58: R42 Basis of Financial Statements and Summary of HTML 233K Significant Accounting Policies [Text Block] (Policies) 59: R43 Basis of Financial Statements and Summary of HTML 74K Significant Accounting Policies [Text Block] (Tables) 60: R44 Business Developments [Text Block] (Tables) HTML 80K 61: R45 Investment Securities [Text Block] (Tables) HTML 266K 62: R46 Loans and Allowance for Credit Losses [Text Block] HTML 536K (Tables) 63: R47 Premises and Equipment [Text Block] (Tables) HTML 76K 64: R48 Goodwill and Other Intangible Assets [Text Block] HTML 153K (Tables) 65: R49 Lease Transactions [Text Block] (Tables) HTML 131K 66: R50 Income Taxes [Text Block] (Tables) HTML 206K 67: R51 Pledged Assets and Collateral [Text Block] HTML 78K (Tables) 68: R52 Deposits [Text Block] (Tables) HTML 74K 69: R53 Call Money and Funds Purchased [Text Block] HTML 70K (Tables) 70: R54 Due to Trust Account, Short-term Borrowings and HTML 199K Long-term Debt [Text Block] (Tables) 71: R55 Severance Indemnities and Pension Plans [Text HTML 467K Block] (Tables) 72: R56 Other Assets and Liabilities [Text Block] (Tables) HTML 135K 73: R57 Offsetting of Derivatives, Repurchase Agreements, HTML 135K and Securities Lending Transactions [Text Block] (Tables) 74: R58 Repurchase Agreements, and Securities Lending HTML 129K Transactions Accounted for as Secured Borrowings [Text Block] (Tables) 75: R59 Common Stock and Capital Surplus [Text Block] HTML 75K (Tables) 76: R60 Accumulated Other Comprehensive Income (Loss) HTML 340K [Text Block] (Tables) 77: R61 Regulatory Capital Requirements [Text Block] HTML 214K (Tables) 78: R62 Earnings Per Common Share Applicable to Common HTML 98K Shareholders of MUFG [Text Block] (Tables) 79: R63 Derivative Financial Instruments [Text Block] HTML 246K (Tables) 80: R64 Obligations under Guarantees and Other Off-balance HTML 131K Sheet Instruments [Text Block] (Tables) 81: R65 Variable Interest Entities [Text Block] (Tables) HTML 262K 82: R66 Fees and Commissions Income [Text Block] (Tables) HTML 84K 83: R67 Trading Account Profits and Losses [Text Block] HTML 77K (Tables) 84: R68 Business Segments [Text Block] (Tables) HTML 174K 85: R69 Foreign Activities [Text Block] (Tables) HTML 127K 86: R70 Fair Value [Text Block] (Tables) HTML 778K 87: R71 Parent Company Only Financial Information [Text HTML 168K Block] (Tables) 88: R72 Basis of Financial Statements and Summary of HTML 113K Significant Accounting Policies (Narrative) (Detail) 89: R73 Basis of Financial Statements and Summary of HTML 76K Significant Accounting Policies (Estimated Useful Lives of Premises and Equipment) (Detail) 90: R74 Basis of Financial Statements and Summary of HTML 85K Significant Accounting Policies (Useful Lives of Intangible Assets and Amortization Method by Major Class) (Detail) 91: R75 Business Developments (Narrative) (Detail) HTML 229K 92: R76 Business Developments (Estimated Fair Values of HTML 89K the Assets Acquired and Liabilities Assumed Related to Acquisition of Danamon) (Detail) 93: R77 Business Developments (Estimated Fair Values of HTML 71K the Assets Acquired and Liabilities Assumed Related to Acquisition of DVB Bank SE's Aviation Finance Division) (Detail) 94: R78 Investment Securities (Narrative) (Detail) HTML 80K 95: R79 Investment Securities (Amortized Cost, Gross HTML 139K Unrealized Gains (Losses) and Fair Value of Investment Securities) (Detail) 96: R80 Investment Securities (Amortized Cost and Fair HTML 111K Value by Contractual Maturity) (Detail) 97: R81 Investment Securities (Investments by Length and HTML 155K Category in Continuous Loss Position) (Detail) 98: R82 Investment Securities (Net Realized Gains (Losses) HTML 71K on Sales of Equity Securities and Net Unrealized Gains (Losses) on Equity Securities still held) (Detail) 99: R83 Investment Securities (Carrying Value of HTML 67K Nonmarketable Equity Securities) (Detail) 100: R84 Investment Securities (Related Adjustments for HTML 81K Nonmarketable Equity Securities) (Detail) 101: R85 Loans and Allowance for Credit Losses (Narrative) HTML 135K (Detail) 102: R86 Loans and Allowance for Credit Losses (Loans by HTML 109K Domicile and Industry of Borrower Segment Classification) (Detail) 103: R87 Loans and Allowance for Credit Losses (Nonaccrual HTML 99K Status of Loans by Class) (Detail) 104: R88 Loans and Allowance for Credit Losses (Impaired HTML 108K Loans by Class) (Detail) 105: R89 Loans and Allowance for Credit Losses (Average HTML 90K Recorded Loan Balance and Recognized Interest Income on Impaired Loans by Class) (Detail) 106: R90 Loans and Allowance for Credit Losses (Troubled HTML 102K Debt Restructurings by Class) (Detail) 107: R91 Loans and Allowance for Credit Losses (Credit HTML 135K Quality Indicators of Loans by Class) (Detail) 108: R92 Loans and Allowance for Credit Losses (Credit HTML 235K Quality Indicators of Loans and Year of Origination by Class) (Detail) 109: R93 Loans and Allowance for Credit Losses (Ages of HTML 130K Past Due Loans by Class) (Detail) 110: R94 Loans and Allowance for Credit Losses (Changes in HTML 135K Allowance for Credit Losses by Portfolio Segment) (Detail) 111: R95 Loans and Allowance for Credit Losses (Allowance HTML 134K for Credit Losses and Recorded Investment in Loans by Portfolio Segment) (Detail) 112: R96 Premises and Equipment (Narrative) (Detail) HTML 70K 113: R97 Premises and Equipment (Components of Premises and HTML 82K Equipment) (Detail) 114: R98 Goodwill and Other Intangible Assets (Narrative) HTML 112K (Detail) 115: R99 Goodwill and Other Intangible Assets (Movement in HTML 104K Carrying Amount of Goodwill by Business Segment) (Detail) 116: R100 Goodwill and Other Intangible Assets (Carrying HTML 95K Amount of Other Intangible Assets by Major Class) (Detail) 117: R101 Goodwill and Other Intangible Assets (Estimated HTML 75K Aggregate Amortization Expense for Intangible Assets for Next Five Fiscal Years) (Detail) 118: R102 Lease Transactions (Narrative) (Detail) HTML 82K 119: R103 Lease Transactions (Profit or Loss of Lease HTML 70K Transactions as a Lessee) (Detail) 120: R104 Lease Transactions (Information of Lease HTML 88K Transactions as a Lessee) (Detail) 121: R105 Lease Transactions (Maturities of Lease HTML 104K Liabilities) (Detail) 122: R106 Lease Transactions (Profit or Loss of Lease HTML 71K Transactions as a Lessor) (Detail) 123: R107 Lease Transactions (Component of Sales Type and HTML 74K Direct Financing Lease Transactions) (Detail) 124: R108 Lease Transactions (Maturity of the Lease Payment HTML 84K Receivables of Sales Type and Direct Financing Lease Transactions) (Detail) 125: R109 Income Taxes (Narrative) (Detail) HTML 85K 126: R110 Income Taxes (Income before Income Tax Expense by HTML 72K Jurisdiction) (Detail) 127: R111 Income Taxes (Detail of Current and Deferred HTML 107K Income Tax Expense (Benefit)) (Detail) 128: R112 Income Taxes (Reconciliation of Effective Income HTML 99K Tax Rates) (Detail) 129: R113 Income Taxes (Components of Net Deferred Tax HTML 106K Assets) (Detail) 130: R114 Income Taxes (Operating Loss and Tax Credit HTML 87K Carryforwards) (Detail) 131: R115 Income Taxes (Roll-forward of Unrecognized Tax HTML 81K Benefits) (Detail) 132: R116 Income Taxes (Roll-forward of Interest and HTML 70K Penalties Recognized) (Detail) 133: R117 Income Taxes (Status of Years under Audit or Open HTML 72K to Examination by Major Tax Jurisdictions) (Detail) 134: R118 Pledged Assets and Collateral (Narrative) (Detail) HTML 78K 135: R119 Pledged Assets and Collateral (Assets Mortgaged, HTML 74K Pledged, or Otherwise Subject to Lien) (Detail) 136: R120 Pledged Assets and Collateral (Pledged Assets HTML 74K Classified by Type of Liabilities) (Detail) 137: R121 Deposits (Narrative) (Detail) HTML 77K 138: R122 Deposits (Time Deposits by Maturity) (Detail) HTML 83K 139: R123 Call Money and Funds Purchased (Summary of Funds HTML 72K Transactions) (Detail) 140: R124 Due to Trust Account, Short-term Borrowings and HTML 85K Long-term Debt (Narrative) (Detail) 141: R125 Due to Trust Account, Short-term Borrowings and HTML 66K Long-term Debt (Summary of Due to Trust Account Transactions) (Detail) 142: R126 Due to Trust Account, Short-term Borrowings and HTML 90K Long-term Debt (Components of Other Short-term Borrowings) (Detail) 143: R127 Due to Trust Account, Short-term Borrowings and HTML 315K Long-term Debt (Components of Long-term Debt) (Detail) 144: R128 Due to Trust Account, Short-term Borrowings and HTML 93K Long-term Debt (Summary of Subsequent Maturities of Long-term Debt) (Detail) 145: R129 Severance Indemnities and Pension Plans HTML 82K (Narrative) (Detail) 146: R130 Severance Indemnities and Pension Plans HTML 99K (Components of Net Periodic Cost of Pension Benefits and Other Benefits) (Detail) 147: R131 Severance Indemnities and Pension Plans (Summary HTML 93K of Assumptions Used in Computation) (Detail) 148: R132 Severance Indemnities and Pension Plans (Assumed HTML 75K Health Care Cost Trend Rates and Effect of a One-percentage-point Change for Foreign Offices and Subsidiaries) (Detail) 149: R133 Severance Indemnities and Pension Plans (Combined HTML 150K Funded Status and Amounts Recognized in Consolidated Balance Sheets) (Detail) 150: R134 Severance Indemnities and Pension Plans HTML 71K (Aggregated Accumulated Benefit Obligations) (Detail) 151: R135 Severance Indemnities and Pension Plans (Summary HTML 78K for Plans with Accumulated Benefit Obligations in Excess of Plan Assets) (Detail) 152: R136 Severance Indemnities and Pension Plans (Amounts HTML 90K Recognized in Accumulated OCI) (Detail) 153: R137 Severance Indemnities and Pension Plans (Amounts HTML 100K Recognized in OCI) (Detail) 154: R138 Severance Indemnities and Pension Plans HTML 99K (Weighted-average Target Asset Allocation of Plan Assets for Pension Benefits and Other Benefits) (Detail) 155: R139 Severance Indemnities and Pension Plans (Estimated HTML 87K Future Benefit Payments) (Detail) 156: R140 Severance Indemnities and Pension Plans (Fair HTML 108K Value of Each Major Category of Plan Assets for Pension Benefits and SIP Investments: Domestic Subsidiaries) (Detail) 157: R141 Severance Indemnities and Pension Plans (Fair HTML 112K Value of Each Major Category of Plan Assets for Pension Benefits and SIP Investments: Foreign Offices and Subsidiaries) (Detail) 158: R142 Severance Indemnities and Pension Plans (Fair HTML 101K Values of Investments Valued at Net Asset per Share (or Its Equivalent) for Pension Benefits and SIP Investments) (Detail) 159: R143 Other Assets and Liabilities (Narrative) (Detail) HTML 81K 160: R144 Other Assets and Liabilities (Major Components of HTML 118K Other Assets and Liabilities) (Detail) 161: R145 Other Assets and Liabilities (Major Components of HTML 75K Other Assets and Liabilities) (Parenthetical) (Detail) 162: R146 Other Assets and Liabilities (Summarized Financial HTML 110K Information of Morgan Stanley) (Detail) 163: R147 Other Assets and Liabilities (Summarized Financial HTML 106K Information of Equity Method Investees, Other than Morgan Stanley) (Detail) 164: R148 Offsetting of Derivatives, Repurchase Agreements, HTML 186K and Securities Lending Transactions (Summary of Offsetting of Derivatives, Repurchase Agreements, and Securities Lending Transactions) (Detail) 165: R149 Repurchase Agreements, and Securities Lending HTML 88K Transactions Accounted for as Secured Borrowings (Gross Obligations by Remaining Contractual Maturity and Class of Collateral Pledged) (Detail) 166: R150 Repurchase Agreements, and Securities Lending HTML 97K Transactions Accounted for as Secured Borrowings (Secured Borrowing by the Class of Collateral Pledged) (Detail) 167: R151 Preferred Stock (Narrative) (Detail) HTML 78K 168: R152 Common Stock and Capital Surplus (Narrative) HTML 99K (Detail) 169: R153 Common Stock and Capital Surplus (Changes in HTML 70K Number of Issued Shares of Common Stock) (Detail) 170: R154 Retained Earnings, Legal Reserve and Dividends HTML 101K (Narrative) (Detail) 171: R155 Accumulated Other Comprehensive Income (Loss) HTML 115K (Changes in Accumulated OCI, Net of Tax and Net of Noncontrolling Interests) (Detail) 172: R156 Accumulated Other Comprehensive Income (Loss) HTML 261K (Before Tax and Net of Tax Changes in Each Component of Accumulated OCI) (Detail) 173: R157 Accumulated Other Comprehensive Income (Loss) HTML 140K (Reclassification of Significant Items out of Accumulated OCI) (Detail) 174: R158 Regulatory Capital Requirements (Narrative) HTML 126K (Detail) 175: R159 Regulatory Capital Requirements (Risk-adjusted HTML 147K Capital Amounts and Ratios, Japan) (Detail) 176: R160 Regulatory Capital Requirements (Risk-adjusted HTML 105K Capital Amounts and Ratios, United States of America, MUAH) (Detail) 177: R161 Regulatory Capital Requirements (Risk-adjusted HTML 124K Capital Amounts and Ratios, United States of America, MUB) (Detail) 178: R162 Earnings Per Common Share Applicable to Common HTML 107K Shareholders of MUFG (Reconciliations of Net Income and Weighted Average Number of Common Shares Outstanding Used for Computation of Basic EPS to Adjusted Amounts for Computation of Diluted EPS) (Detail) 179: R163 Derivative Financial Instruments (Narrative) HTML 100K (Detail) 180: R164 Derivative Financial Instruments (Notional Amounts HTML 79K of Derivative Contracts) (Detail) 181: R165 Derivative Financial Instruments (Fair Value HTML 112K Information on Derivative Instruments Recorded on Consolidated Balance Sheets) (Detail) 182: R166 Derivative Financial Instruments (Gains and Losses HTML 99K for Trading and Risk Management Derivatives (Not Designated as Hedging Instruments)) (Detail) 183: R167 Derivative Financial Instruments (Protection Sold HTML 117K Through Credit Default Swaps) (Detail) 184: R168 Obligations under Guarantees and Other Off-balance HTML 82K Sheet Instruments (Narrative) (Detail) 185: R169 Obligations under Guarantees and Other Off-balance HTML 91K Sheet Instruments (Contractual or Notional Amounts of Guarantees with Amount by Expiration Period) (Detail) 186: R170 Obligations under Guarantees and Other Off-balance HTML 98K Sheet Instruments (Maximum Potential Amount of Future Payments Classified Based upon Internal Credit Ratings) (Detail) 187: R171 Obligations under Guarantees and Other Off-balance HTML 73K Sheet Instruments (Contractual Amounts with Regard to Other Off-balance Sheet Instruments) (Detail) 188: R172 Variable Interest Entities (Assets and Liabilities HTML 155K of Consolidated Variable Interest Entities) (Detail) 189: R173 Variable Interest Entities (Assets and Liabilities HTML 107K of Non-consolidated Variable Interest Entities) (Detail) 190: R174 Contingent Liabilities (Narrative) (Detail) HTML 67K 191: R175 Fees and Commissions Income (Details of Fees and HTML 95K Commissions Income) (Detail) 192: R176 Trading Account Profits and Losses (Net Trading HTML 75K Gains (Losses)) (Detail) 193: R177 Business Segments (Narrative) (Detail) HTML 82K 194: R178 Business Segments (Financial Information by HTML 144K Business Segment) (Detail) 195: R179 Business Segments (Reconciliation of Operating HTML 102K Profit (Loss) from Segments to Consolidated Statements of Income) (Detail) 196: R180 Foreign Activities (Estimated Financial HTML 111K Information by Geographic Areas) (Detail) 197: R181 Foreign Activities (Analysis of Certain Asset and HTML 105K Liability Accounts Related to Foreign Activities) (Detail) 198: R182 Fair Value (Assets and Liabilities Measured at HTML 314K Fair Value by Level on Recurring Basis) (Detail) 199: R183 Fair Value (Reconciliation of Assets and HTML 268K Liabilities Measured at Fair Value on Recurring Basis Using Level 3 Inputs) (Detail) 200: R184 Fair Value (Quantitative Information about Level 3 HTML 233K Fair Value Measurements) (Detail) 201: R185 Fair Value (Carrying Value of Assets Measured at HTML 113K Fair Value on Nonrecurring Basis by Level) (Detail) 202: R186 Fair Value (Losses (Gains) Recorded as a Result of HTML 88K Changes in Fair Value Measured on a Nonrecurring Basis) (Detail) 203: R187 Fair Value (Gains (Losses) Related to Instruments HTML 90K for which Fair Value Option was Elected) (Detail) 204: R188 Fair Value (Differences between Aggregate Fair HTML 73K Value and Aggregate Remaining Contractual Principal Balance Outstanding) (Detail) 205: R189 Fair Value (Summary of Carrying Amounts and HTML 128K Estimated Fair Values of Financial Instruments Not Carried at Fair Value on Recurring Basis on Balance Sheets by Level) (Detail) 206: R190 Parent Company Only Financial Information HTML 74K (Narrative) (Detail) 207: R191 Parent Company Only Financial Information HTML 108K (Condensed Balance Sheets) (Detail) 208: R192 Parent Company Only Financial Information HTML 120K (Condensed Statements of Income) (Detail) 209: R193 Parent Company Only Financial Information HTML 129K (Condensed Statements of Cash Flows) (Detail) 210: R194 Subsequent Events (Narrative) (Detail) HTML 74K 212: XML IDEA XML File -- Filing Summary XML 459K 16: XML XBRL Instance -- d137472d20f_htm XML 17.69M 211: EXCEL IDEA Workbook of Financial Reports XLSX 434K 12: EX-101.CAL XBRL Calculations -- mufg-20210331_cal XML 770K 13: EX-101.DEF XBRL Definitions -- mufg-20210331_def XML 3.08M 14: EX-101.LAB XBRL Labels -- mufg-20210331_lab XML 4.64M 15: EX-101.PRE XBRL Presentations -- mufg-20210331_pre XML 3.96M 11: EX-101.SCH XBRL Schema -- mufg-20210331 XSD 766K 213: JSON XBRL Instance as JSON Data -- MetaLinks 1,183± 2.01M 214: ZIP XBRL Zipped Folder -- 0001193125-21-211223-xbrl Zip 2.21M
ANNUAL REPORT |
Title of each class |
Trading symbol(s) |
Name of each exc ha nge on which registered | ||||
i Common stock, without par value |
i New York Stock Exchange (1) | |||||
i American depositary shares, each of which represents one share of common stoc k |
i MUFG | i New York Stock Exchange |
(1) |
The listing of the registrant’s common stock on the New York Stock Exchange is for technical purposes only and without trading privileges. |
i Large accelerated filer ☒ |
Accelerated filer ☐ |
Non-accelerated filer ☐ |
Emerging growth company i ☐ |
i U.S. GAAP ☒ |
International Financial Reporting Standards as issued by the International Accounting Standards Board ☐ |
Other ☐ |
Page |
||||||
3 |
||||||
Item 1. |
5 |
|||||
Item 2. |
5 |
|||||
Item 3. |
5 |
|||||
Item 4. |
25 |
|||||
Item 4A. |
61 |
|||||
Item 5. |
62 |
|||||
Item 6. |
108 |
|||||
Item 7. |
131 |
|||||
Item 8. |
132 |
|||||
Item 9. |
133 |
|||||
Item 10. |
134 |
|||||
Item 11. |
143 |
|||||
Item 12. |
168 |
|||||
Item 13. |
170 |
|||||
Item 14. |
170 |
|||||
Item 15. |
170 |
|||||
Item 16A. |
173 |
|||||
Item 16B. |
173 |
|||||
Item 16C. |
173 |
|||||
Item 16D. |
174 |
|||||
Item 16E. |
174 |
|||||
Item 16F. |
175 |
|||||
Item 16G. |
175 |
|||||
Item 16H. |
176 |
|||||
Item 17. |
177 |
|||||
Item 18. |
177 |
|||||
Item 19. |
177 |
|||||
A-1 |
||||||
F-1 |
• | deterioration in economic conditions in Japan and around the world, |
• | external events, such as natural disasters, COVID-19 and other health pandemics or epidemics, terrorism, and other political and social conflicts, |
• | reforms of London Interbank Offered Rate and other interest rate benchmarks, |
• | climate change and resulting physical damages and changes in the business environment, |
• | competitive pressures resulting from regulatory and market changes, |
• | failure to implement our business expansion strategy as planned and to manage new or expanded risks that entail such strategy, as well as incurrence of impairment or valuation losses on our acquired assets, |
• | negative developments relating to our strategic alliance with Morgan Stanley, |
• | failure to maintain our capital ratios and other regulatory ratios above minimum required levels, |
• | significant unexpected increases in credit costs, |
• | financial difficulties of other financial institutions that affect the overall banking environment and their borrowers, |
• | fluctuations in interest rates, foreign currency exchange rates and stock prices, |
• | reduction in foreign currency funding liquidity, |
• | failure to address regulatory or public concerns or to meet market or industry rules or standards, customer protection requirements, or corporate behavior expectations, |
• | cyber-attacks and other information security threats, |
• | problems with the proper functioning and development of information, communications and transaction management systems, |
• | transactions with counterparties in countries designated by the U.S. Department of State as state sponsors of terrorism, |
• | changes in laws, regulations, rules, policies, accounting standards or methods, voluntary codes of practices, and interpretations, |
• | changes in the business and regulatory environment for consumer finance companies, |
• | damage to our reputation resulting from our failure to prevent or properly address negative perceptions held by customers, investors, regulators and the general public regarding us and our operations, and |
• | other risks and uncertainties discussed in “Item 3.D. Key Information—Risk Factors,” “Item 4.B. Information on the Company—Business Overview,” “Item 5. Operating and Financial Review and Prospects” and elsewhere in this Annual Report. |
Item 1. |
Identity of Directors, Senior Management and Advisers. |
Item 2. |
Offer Statistics and Expected Timetable. |
Item 3. |
Key Information. |
A. |
Selected Financial Data |
2017 |
2018 |
2019 |
2020 |
2021 |
||||||||||||||||
(in millions, except per share data and number of shares) |
||||||||||||||||||||
Statement of income data: |
||||||||||||||||||||
Interest income |
¥ | 2,990,767 | ¥ | 3,259,016 | ¥ | 3,813,379 | ¥ | 3,927,143 | ¥ | 2,751,996 | ||||||||||
Interest expense |
769,639 | 1,028,755 | 1,517,981 | 1,684,344 | 747,902 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net interest income |
2,221,128 | 2,230,261 | 2,295,398 | 2,242,799 | 2,004,094 | |||||||||||||||
Provision for (reversal of) credit losses |
253,688 | (240,847 | ) | 34,330 | 321,713 | 484,210 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net interest income after provision for (reversal of) credit losses |
1,967,440 | 2,471,108 | 2,261,068 | 1,921,086 | 1,519,884 | |||||||||||||||
Non-interest income |
1,196,706 | 1,935,091 | 1,595,244 | 1,875,695 | 3,157,787 | |||||||||||||||
Non-interest expense |
2,891,603 | 2,744,380 | 2,985,470 | 3,363,561 | 3,069,329 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Income before income tax expense |
272,543 | 1,661,819 | 870,842 | 433,220 | 1,608,342 | |||||||||||||||
Income tax expense |
94,453 | 407,823 | 133,237 | 114,505 | 444,948 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net income before attribution of noncontrolling interests |
178,090 | 1,253,996 | 737,605 | 318,715 | 1,163,394 | |||||||||||||||
Net income (loss) attributable to noncontrolling interests |
(24,590 | ) | 25,836 | 18,960 | 12,760 | 46,096 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net income attributable to Mitsubishi UFJ Financial Group |
¥ | 202,680 | ¥ | 1,228,160 | ¥ | 718,645 | ¥ | 305,955 | 1,117,298 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Earnings applicable to common shareholders of Mitsubishi UFJ Financial Group |
¥ | 202,680 | ¥ | 1,228,160 | ¥ | 718,645 | ¥ | 305,955 | 1,117,298 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Amounts per share: |
||||||||||||||||||||
Basic earnings per common share—Earnings applicable to common shareholders of Mitsubishi UFJ Financial Group |
¥ | 14.93 | ¥ | 92.40 | ¥ | 55.03 | ¥ | 23.69 | ¥ | 86.88 | ||||||||||
Diluted earnings per common share—Earnings applicable to common shareholders of Mitsubishi UFJ Financial Group |
14.68 | 92.10 | 54.74 | 23.47 | 86.56 | |||||||||||||||
Number of shares used to calculate basic earnings per common share (in thousands) |
13,574,314 | 13,291,842 | 13,058,698 | 12,912,790 | 12,859,737 | |||||||||||||||
Number of shares used to calculate diluted earnings per common share (in thousands) (1) |
13,584,885 | 13,293,492 | 13,059,182 | 12,912,956 | 12,859,737 | |||||||||||||||
Cash dividends per share paid during the fiscal year: |
||||||||||||||||||||
—Common stock |
¥ | 18.00 | ¥ | 18.00 | ¥ | 21.00 | ¥ | 23.50 | ¥ | 25.00 | ||||||||||
$ | 0.17 | $ | 0.16 | $ | 0.19 | $ | 0.22 | $ | 0.24 |
2017 |
2018 |
2019 |
2020 |
2021 |
||||||||||||||||
(in millions) |
||||||||||||||||||||
Balance sheet data: |
||||||||||||||||||||
Total assets |
¥ | 297,185,019 | ¥ | 300,570,312 | ¥ | 305,228,899 | ¥ | 331,753,283 | ¥ | 353,824,625 | ||||||||||
Loans, net of allowance for credit losses |
117,032,784 | 116,271,771 | 116,225,757 | 117,377,199 | 114,370,472 | |||||||||||||||
Total liabilities |
282,420,311 | 284,924,497 | 289,244,151 | 316,008,767 | 337,580,071 | |||||||||||||||
Deposits |
190,401,623 | 195,674,593 | 199,280,789 | 203,954,528 | 229,206,936 | |||||||||||||||
Long-term debt (2) |
26,131,527 | 27,069,556 | 27,990,543 | 27,926,763 | 35,157,651 | |||||||||||||||
Total equity |
14,764,708 | 15,645,815 | 15,984,748 | 15,744,516 | 16,244,554 | |||||||||||||||
Capital stock |
2,090,270 | 2,090,270 | 2,090,270 | 2,090,270 | 2,090,270 |
2017 |
2018 |
2019 |
2020 |
2021 |
||||||||||||||||
(in millions, except percentages) |
||||||||||||||||||||
Other financial data: |
||||||||||||||||||||
Average balances: |
||||||||||||||||||||
Interest-earning assets |
¥ | 239,192,449 | ¥ | 239,048,981 | ¥ | 241,407,356 | ¥ | 246,283,676 | ¥ | 268,916,481 | ||||||||||
Interest-bearing liabilities |
223,522,296 | 233,857,052 | 234,643,197 | 238,861,520 | 265,912,928 | |||||||||||||||
Total assets |
307,938,699 | 320,589,932 | 321,292,847 | 325,500,449 | 355,992,571 | |||||||||||||||
Total equity |
15,010,829 | 15,423,078 | 16,076,679 | 15,417,885 | 15,681,527 | |||||||||||||||
Return on equity and assets: |
||||||||||||||||||||
Earnings applicable to common shareholders as a percentage of average total assets |
0.07 | % | 0.38 | % | 0.22 | % | 0.09 | % | 0.31 | % | ||||||||||
Earnings applicable to common shareholders as a percentage of average total equity |
1.35 | % | 7.96 | % | 4.47 | % | 1.98 | % | 7.12 | % | ||||||||||
Dividends per common share as a percentage of basic earnings per common share |
120.56 | % | 19.48 | % | 38.16 | % | 99.20 | % | 28.78 | % | ||||||||||
Average total equity as a percentage of average total assets |
4.87 | % | 4.81 | % | 5.00 | % | 4.74 | % | 4.41 | % | ||||||||||
Net interest income as a percentage of average total interest-earning assets |
0.93 | % | 0.93 | % | 0.95 | % | 0.91 | % | 0.75 | % | ||||||||||
Credit quality data: |
||||||||||||||||||||
Allowance for credit losses (4) |
¥ | 1,182,188 | ¥ | 764,124 | ¥ | 658,184 | ¥ | 809,540 | ¥ | 1,348,391 | ||||||||||
Allowance for credit losses as a percentage of loans |
1.00 | % | 0.65 | % | 0.56 | % | 0.68 | % | 1.17 | % | ||||||||||
Net loan charge-offs |
¥ | 169,809 | ¥ | 180,999 | ¥ | 129,924 | ¥ | 179,277 | ¥ | 245,424 | ||||||||||
Net loan charge-offs as a percentage of average loans |
0.14 | % | 0.15 | % | 0.11 | % | 0.15 | % | 0.21 | % | ||||||||||
Average interest rate spread |
0.91 | % | 0.92 | % | 0.93 | % | 0.88 | % | 0.74 | % | ||||||||||
Risk-adjusted capital ratio calculated under Japanese GAAP (3) |
15.85 | % | 16.56 | % | 16.03 | % | 15.87 | % | 16.31 | % |
(1) | Includes the common shares that were potentially issuable upon exercise of stock acquisition rights. See “ Item 6.B. Directors, Senior Management and Employees—Compensation.” |
(2) | Reflects the changes in presentation adopted in the fiscal year ended March 31, 2018, where long-term payables under repurchase agreements are no longer included in long-term debt but are aggregated with short-term payables under repurchase agreements in payables under repurchase agreements, and applied to the fiscal year ended March 31, 2017. |
(3) | Risk-adjusted capital ratios have been calculated in accordance with Japanese banking regulations as applicable on the relevant calculation date, based on information derived from our consolidated financial statements prepared in accordance with Japanese GAAP. For a description of the applicable capital ratio calculation and other requirements applicable, see “Item 4.B. Information on the Company—Business Overview—Supervision and Regulation—Japan—Capital adequacy” and “Item 5.B. Operating and Financial Review and Prospects—Liquidity and Capital Resources—Capital Adequacy.” |
(4) | Adopted the new guidance on measurement of credit losses on financial instruments as of April 1, 2020, which resulted in an increase of allowance for credit losses as of the beginning of the fiscal year ended March 31, 2021. See Note 1 (Accounting Changes) to our consolidated financial statements for more information. |
B. |
Capitalization and Indebtedness |
C. |
Reasons for the Offer and Use of Proceeds |
D. |
Risk Factors |
• | deterioration in economic conditions in Japan because a large portion of our assets as well as our business operations are in Japan, |
• | deterioration in economic conditions in Japan and around the world given our global operations, |
• | natural disasters, terrorism, pandemics and other disruptions caused by external events, |
• | reforms of London Interbank Offered Rate and other interest rate benchmarks, |
• | climate change risks such as physical damage caused by extreme weather conditions and natural disasters as well as governments’ measures to strengthen climate-related regulations and the transition to a decarbonized society, |
• | competitive pressures, which have partly increased due to regulatory changes and recent market changes in the financial industry domestically and globally, |
• | new or expanded risks, if and to the extent we are unable to anticipate or manage, that entail our global expansion strategy because of political and social instability, stagnation of the economy, fluctuations of the financial market, inability to obtain regulatory approvals, changes in the laws, regulations or accounting standards changes in the strategies or financial condition of our acquirees, investees or alliance partners that are inconsistent with our interests, unanticipated changes in the local market, industry or business environment affecting our acquirees, investees or alliance partners, |
• | synergies and other benefits expected from our strategic alliance with Morgan Stanley not being achieved, |
• | failure to maintain our capital ratios and other regulatory ratios above minimum required levels, |
• | fluctuations in foreign currency exchange rates, |
• | credit-related losses, |
• | financial difficulties relating to other financial institutions resulting in losses on our transactions with such financial institutions or systemic problems adversely affecting the financial market and the wider economy, |
• | declines in the Japanese stock market or other global markets, |
• | fluctuations in interest rates, foreign currency exchange rates and stock prices, |
• | a downgrade of our credit ratings adversely affecting our liquidity, |
• | regulatory actions or other legal proceedings, |
• | failure to safeguard personal and other confidential information resulting in liability, reputational damage or financial losses, |
• | cyber-attacks and other information security threats and improper functioning or development of our information, communications and transaction management systems, |
• | transactions with counterparties in countries designated by the U.S. Department of State as state sponsors of terrorism, |
• | legal and regulatory changes, |
• | changes in the business or regulatory environment for consumer finance companies in Japan, |
• | damage to our reputation, |
• | restrictions on U.S. investors to ability to effect service of process on us or to enforce U.S. court judgments against us, |
• | limitations on rights of holders of our American depositary shares as shareholders. |
• | such transition may adversely affect the price, liquidity, profitability, and tradability of a wide range of financial instruments, such as loans and derivatives, included in our financial assets and liabilities that reference LIBOR and other interest rate benchmarks; |
• |
• | such transition may result in disputes with customers and counterparties concerning the interpretation of affected contracts or economic adjustments to the alternative reference rate adopted in connection with the reform of LIBOR and other interest rate benchmarks and the transition to alternative reference rates, or disputes concerning inappropriate trade practices or abuse of a dominant bargaining position in transactions with customers; |
• | such transition may require us to respond to regulatory authorities in connection with the reform of LIBOR and other interest rate benchmarks and the transition to alternative reference rates; and |
• | we may be unable to sufficiently develop or enhance systems needed for risk management and other operations to effectively deal with the reform of LIBOR and other interest rate benchmarks and the transition to alternative reference rates and may incur additional system investment and other costs in connection with such reform and transition |
• | the volume of loans made to borrowers cannot be maintained or does not increase as anticipated; |
• | our income from interest spreads on the existing loans does not improve as anticipated; |
• | our loan interest spread further narrows as a result of the “quantitative and qualitative monetary easing with yield curve control” program being maintained in Japan for an extended period or the negative interest rate being lowered from the current level; |
• | our fee income does not increase as much or quickly as we aim to do; |
• | our strategy to build a business infrastructure for new services and products through digital transformation or otherwise does not proceed as planned; |
• | clients and business opportunities are lost, or costs and expenses significantly exceed our expectations, as a result of the ongoing or planned strategies to streamline our business portfolio, to integrate our systems, or to improve financial and operational efficiency not being achieved as expected; |
• | we are unable to hire or retain sufficient human resources; |
• | our foreign currency funding becomes limited or unavailable; and |
• | we are restricted in agility or flexibility in investing in non-financial institutions under applicable laws and regulations in and outside of Japan. |
• | fluctuations in our or our banking subsidiaries’ portfolios due to deterioration in the creditworthiness of borrowers and the issuers of equity and debt securities; |
• | difficulty in refinancing or issuing instruments upon redemption or at maturity of such instruments to raise capital under terms and conditions similar to prior financings or issuances; |
• | declines in the value of our or our banking subsidiaries’ securities portfolios; |
• | adverse changes in foreign currency exchange rates; |
• | adverse revisions to the capital ratio and other regulatory ratio requirements; |
• | reductions in the value of our or our banking subsidiaries’ deferred tax assets; and |
• | other adverse developments. |
• | we are shareholders of financial institutions; |
• | financial institutions that face difficulties may terminate or reduce financial support to borrowers, putting such borrowers under financial stress and causing our loans to such borrowers to be impaired; |
• | we may be requested to participate in providing support to distressed financial institutions; |
• | the government may elect to provide regulatory, tax, funding or other benefits to financial institutions under its supervision or control to strengthen their capital or increase their profitability or for other purposes, causing our competitiveness against such financial institutions to weaken; |
• | our deposit insurance premiums may rise if deposit insurance funds prove to be inadequate; |
• | bankruptcies or government control or other intervention of financial institutions may generally undermine the confidence of depositors in, or adversely affect the overall business environment for, financial institutions; and |
• | negative media coverage of the financial industry or system, regardless of its accuracy and applicability to us, may harm our reputation as well as market confidence in the financial industry and system. |
• | the jurisdiction of the foreign court be recognized under laws, regulations, treaties or conventions; |
• | proper service of process be made on relevant defendants, or relevant defendants be given appropriate protection if such service is not received; |
• | the judgment and proceedings of the foreign court not be repugnant to public policy as applied in Japan; and |
• | there exist reciprocity as to the recognition by a court of the relevant foreign jurisdiction of a final judgment of a Japanese court. |
Item 4. |
Information on the Company. |
A. |
History and Development of the Company |
B. |
Business Overview |
Main strategies | Main initiatives | |
Digital transformation |
• Strengthen digital service contact points with all customers and promote the digitalization of products and services. Use digital technologies to reduce operation volume. | |
Contribution to addressing environmental and social issues |
• Prioritize issues of “climate change,” “the aging population and low birth rate,” and “inclusion & diversity,” while implementing business strategies, risk management, and social contribution measures. | |
Transform our corporate culture (Speed / Challenge) |
• Promote activities based on our Purpose, cultivate a free and natural corporate culture, accelerate strategies, and encourage employees to actively take on new challenges on their own. |
Main strategies | Main initiatives | |
Wealth Management Business |
• Develop infrastructure and assign personnel to support comprehensive asset management. Strengthen business by providing solutions to corporate owners. | |
Approach of proposing solutions to issues faced by our corporate customers |
• Take on management issues of our corporate customers, enhance our risk-taking capabilities, and work as a united Group to solve problems. | |
Asia Business |
• Achieve growth through Asia as a whole and promote digital transformation, focusing primarily on our consolidated subsidiaries of Krungsri (Bank of Ayudhya) and Bank Danamon. | |
GCIB and Global Markets |
• Enhance asset velocity and flow business (O&D/O to D* and cross-selling) by increasing transactions with institutional investors. | |
Global Asset Management/Investor Services |
• Promote contract business by leveraging our strengths in overseas asset operation and management fields with potential for industry growth. |
Main strategies | Main initiatives | |
Cost and risk asset control |
• Make necessary growth investments, while thoroughly cutting base costs. • Control risk-weighted assets by switching to highly profitable investments. | |
Transformation of our platforms and business base |
• Implement effective and efficient investments necessary for digital shifts. • Streamline procedures and rules necessary for transformation and review decision-making processes. | |
Review of our business portfolios |
• Improve ROE by reconsidering low-profitable businesses.• Enhance business capabilities through collaborations with other companies, including companies in other industries. |
* | Abbreviation for “Origination & Distribution/Origination to Distribution,” which is a business strategy involving structuring financing and sales of receivables to investors. While “O&D” is a general term for all such business strategy, “O to D” refers specifically to efforts to structure deals based on investor needs. |
• | Japan’s other major banking groups: Mizuho Financial Group and Sumitomo Mitsui Financial Group; |
• | Government financial institutions: Japan Finance Corporation, Japan Post Bank, Development Bank of Japan and Japan Bank for International Cooperation; |
• | Other commercial banking institutions: Resona Bank, Shinsei Bank, regional banks, credit associations ( shinkin banks |
• | Securities companies and investment banks: Nomura group and Daiwa group; and |
• | Asset management companies. |
• | the central bank, namely the Bank of Japan; |
• | private banking institutions; and |
• | government financial institutions. |
• | ordinary banks (121 ordinary banks and 55 foreign commercial banks with ordinary banking operations); and |
• | trust banks (13 trust banks, including two Japanese subsidiaries of foreign financial institutions). |
• | The Development Bank of Japan, which was established for the purpose of contributing to the economic development of Japan by extending long-term loans, mainly to primary and secondary sector industries, and which was reorganized as a joint stock company in October 2008 as part of its ongoing privatization process, with the government being required by law to continue to hold 50% or more of the shares in the bank until the completion of certain specified investment operations, which the bank is required to endeavor to achieve by March 2026, and more than one-third for an unspecified period thereafter; |
• | Japan Finance Corporation, which was formed in October 2008, through the merger of the international financial operations of the former Japan Bank for International Cooperation, National Life Finance Corporation, Agriculture, Forestry and Fisheries Finance Corporation, and Japan Finance Corporation for Small and Medium Enterprise, for the primary purposes of supplementing and encouraging the private financing of exports, imports, overseas investments and overseas economic cooperation, and supplementing private financing to the general public, small and medium-sized enterprises and those engaged in agriculture, forestry and fishery. In April 2012, Japan Finance Corporation spun off its international operations to create Japan Bank for International Cooperation as a separate government-owned entity; |
• | Japan Housing Finance Agency, which was originally established in June 1950 as the Government Housing Loan Corporation for the purpose of providing housing loans to the general public, and which was reorganized as an incorporated administrative agency and started to specialize in securitization of housing loans in April 2007; and |
• | The Japan Post Group companies, a group of joint stock companies including Japan Post Bank, which were formed in October 2007 as part of the Japanese government’s privatization plan for the former Japan Post, a government-run public services corporation, which had been the Postal Service Agency until March 2003. In November 2015, approximately 11% of the outstanding shares of each of Japan |
Post Bank, Japan Post Insurance and Japan Post Holdings were sold to the public, and these companies are currently listed on the Tokyo Stock Exchange. In September 2017, an additional 22% of the outstanding shares of Japan Post Holdings were sold to the public. |
• | common stock, |
• | capital surplus, |
• | retained earnings, and |
• | accumulated other comprehensive income. |
• | Basel III compliant subordinated obligations, |
• | during the transition period, capital that meets Tier II requirements under the former Basel II standards, |
• | allowances for credit losses, and |
• | non-controlling interests in subsidiaries’ Tier 2 capital instruments. |
• | a minimum total capital ratio of 8.0%, |
• | a minimum Tier 1 capital ratio of 6.0%, and |
• | a minimum Common Equity Tier 1 capital ratio of 4.5%. |
• | a revised standardized approach for credit risk, which is designed to improve the robustness and risk sensitivity of the existing approach; |
• | revisions to the internal ratings-based approach for credit risk, where the use of the most advanced internally modelled approaches for low-default portfolios will be limited; |
• | revisions to CVA framework, including the removal of the internally modelled approach and the introduction of a revised standardized approach; |
• | a revised standardized approach for operational risk, which will replace the existing standardized approaches and the advanced measurement approaches; |
• | revisions to the measurement of the leverage ratio and a leverage ratio buffer for G-SIBs, which will take the form of a Tier 1 capital buffer set at 50% of a G-SIB’s risk-weighted capital buffer; and |
• | an aggregate output floor, which is designed to ensure that banks’ risk-weighted assets generated by internal models are no lower than 72.5% of risk-weighted assets as calculated by the Basel III framework’s standardized approaches. Banks will also be required to disclose their risk-weighted assets based on these standardized approaches. |
(a) | if the financial institution is not a financial institution whose liabilities exceed its assets, the financial institution shall be placed under the special supervision by the Deposit Insurance Corporation over the financial institution’s business operations and management and the disposal of the financial institution’s assets, and the Deposit Insurance Corporation may provide the financial institution with loans or guarantees necessary to avoid the risk of significant disruption to the financial system in Japan, or subscribe for shares or subordinated bonds of, or extend subordinated loans to, the financial institution, taking into consideration the financial condition of the financial institution (“Specified Item 1 measures” ( tokutei dai ichigo sochi 126-2, Paragraph 1, Item 1 of the Deposit Insurance Act); or |
(b) | if the financial institution is a financial institution whose liabilities exceed, or are likely to exceed, its assets or which has suspended, or is likely to suspend, payments on its obligations, the financial institution shall be placed under the special supervision by the Deposit Insurance Corporation over the financial institution’s business operations and management and the disposal of the financial institution’s assets, and the Deposit Insurance Corporation may provide financial aid necessary to assist a merger, business transfer, corporate split or other reorganization in respect of such failed financial institution (“Specified Item 2 measures” ( tokutei dai nigo sochi 126-2, Paragraph 1, Item 2 of the Deposit Insurance Act). |
• | prohibited further expansion of the types of activities in which bank holding companies, acting directly or through non-bank subsidiaries, may engage; |
• | authorized qualifying bank holding companies to opt to become “financial holding companies,” and thereby acquire the authority to engage in an expanded list of activities; and |
• | modified the role of the FRB by specifying new relationships between the FRB and the functional regulators of non-bank subsidiaries of both bank holding companies and financial holding companies. |
Name |
Country of Incorporation |
Proportion of Ownership Interest (%) |
Proportion of Voting Interest (%) |
|||||||
MUFG Bank, Ltd. |
Japan | 100.00 |
% |
100.00 |
% | |||||
Mitsubishi UFJ Home Loan CREDIT CO., LTD. |
Japan | 99.85 |
% |
99.85 |
% | |||||
Mitsubishi UFJ Information Technology, Ltd. |
Japan | 100.00 |
% |
100.00 |
% | |||||
The Mitsubishi UFJ Factors Limited |
Japan | 100.00 |
% |
100.00 |
% | |||||
Mitsubishi UFJ Trust and Banking Corporation |
Japan | 100.00 |
% |
100.00 |
% | |||||
Mitsubishi UFJ Real Estate Services Co., Ltd. |
Japan | 100.00 |
% |
100.00 |
% | |||||
Japan Shareholder Services Ltd. |
Japan | 100.00 |
% |
100.00 |
% | |||||
The Master Trust Bank of Japan, Ltd. |
Japan | 46.50 |
% |
46.50 |
% | |||||
MU Investments Co., Ltd. |
Japan | 100.00 |
% |
100.00 |
% | |||||
Mitsubishi UFJ Kokusai Asset Management Co., Ltd. |
Japan | 100.00 |
% |
100.00 |
% | |||||
Mitsubishi UFJ Alternative Investments Co., Ltd. |
Japan | 100.00 |
% |
100.00 |
% | |||||
Mitsubishi UFJ Securities Holdings Co., Ltd. |
Japan | 100.00 |
% |
100.00 |
% | |||||
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. |
Japan | 60.00 |
% |
60.00 |
% | |||||
au Kabucom Securities Co., Ltd. |
Japan | 51.00 |
% |
51.00 |
% | |||||
Mitsubishi UFJ NICOS Co., Ltd. |
Japan | 100.00 |
% |
100.00 |
% | |||||
Japan Digital Design, Inc. |
Japan | 86.11 |
% |
86.11 |
% | |||||
MUMEC Visionary Design, Ltd. |
Japan | 60.00 |
% |
60.00 |
% | |||||
Global Open Network, Inc. |
Japan | 80.00 |
% |
80.00 |
% | |||||
MUFG Innovation Partners Co., Ltd. |
Japan | 100.00 |
% |
100.00 |
% | |||||
MUFG Americas Holdings Corporation |
USA | 100.00 |
% |
100.00 |
% | |||||
Bank of Ayudhya Public Company Limited |
Thailand | 76.88 |
% |
76.88 |
% | |||||
PT Bank Danamon Indonesia, Tbk. |
Indonesia | 92.47 |
% |
92.47 |
% | |||||
MUFG Bank (China), Ltd. |
China | 100.00 |
% |
100.00 |
% | |||||
MUFG Bank (Malaysia) Berhad |
Malaysia | 100.00 |
% |
100.00 |
% | |||||
Mitsubishi UFJ Baillie Gifford Asset Management Limited |
UK | 51.00 |
% |
51.00 |
% | |||||
Mitsubishi UFJ Investor Services & Banking (Luxembourg) S.A. |
Luxembourg | 100.00 |
% |
100.00 |
% | |||||
MUFG Lux Management Company S.A. |
Luxembourg | 100.00 |
% |
100.00 |
% | |||||
Mitsubishi UFJ Asset Management (UK) Ltd. |
UK | 100.00 |
% |
100.00 |
% | |||||
MUFG Investor Services Holdings Limited |
Bermuda | 100.00 |
% |
100.00 |
% | |||||
First Sentier Investors Holdings Pty Ltd |
Australia | 100.00 |
% |
100.00 |
% | |||||
Mitsubishi UFJ Trust International Limited |
UK | 100.00 |
% |
100.00 |
% | |||||
MUFG Securities EMEA plc |
UK | 100.00 |
% |
100.00 |
% | |||||
MUFG Securities Asia Limited |
China | 100.00 |
% |
100.00 |
% | |||||
MUFG Securities (Canada), Ltd. |
Canada | 100.00 |
% |
100.00 |
% |
D. |
Property, Plant and Equipment |
As of March 31, |
||||||||
2021 |
||||||||
(in millions) |
||||||||
Land |
¥ | 380,477 | ¥ | 379,560 | ||||
Buildings |
782,367 | 765,341 | ||||||
Equipment and furniture |
623,676 | 564,273 | ||||||
Leasehold improvements |
310,957 | 303,164 | ||||||
Construction in progress |
35,594 | 46,513 | ||||||
|
|
|
|
|||||
Total |
2,133,071 | 2,058,851 | ||||||
Less accumulated depreciation |
1,203,542 | 1,183,859 | ||||||
|
|
|
|
|||||
Premises and equipment—net |
¥ | 929,529 | ¥ | 874,992 | ||||
|
|
|
|
Book Value |
||||
(in millions) |
||||
Owned land |
¥ | 379,560 | ||
Owned buildings |
236,003 |
Item 4A. |
Unresolved Staff Comments. |
Item 5. |
Operating and Financial Review and Prospects. |
Page |
||||||
63 | ||||||
67 | ||||||
68 | ||||||
71 | ||||||
A. |
Operating Results | 72 | ||||
72 | ||||||
81 | ||||||
86 | ||||||
87 | ||||||
B. |
Liquidity and Capital Resources | 87 | ||||
87 | ||||||
100 | ||||||
105 | ||||||
C. |
Research and Development, Patents and Licenses, etc. | 106 | ||||
D. |
Trend Information | 106 | ||||
E. |
Off-Balance Sheet Arrangements | 106 | ||||
F. |
Tabular Disclosure of Contractual Obligations | 107 | ||||
G. |
Safe Harbor | 107 |
• | general economic conditions, |
• | interest rates, |
• | foreign currency exchange rates, and |
• | stock prices. |
• | net interest income, primarily due to lower interest rates in Japan or fluctuations in various markets, |
• | fees and commissions income mainly due to decreases in the value of assets under custody or management, declines in customer investments or other transactions, or changes in consumer spending trends, as any of these negative factors may be exacerbated by, among other things, weakened appetite for investments or other transaction under uncertain or volatile market conditions or governmental restrictions on business activities, |
• | net investment securities losses primarily due to losses on sales of securities or a decline in the value of our securities portfolio, |
• | net equity in earnings of equity method affiliates if the financial performance of our equity method affiliates deteriorates, |
• | other income and expenses, including impairment losses on goodwill or other intangible assets, due to weaker business prospects and other factors causing deterioration in the business environment, and |
• | regulatory capital ratios due to, among other factors, an increase in risk-weighted assets such as loans and a decrease in the value of our equity securities portfolio. |
A. |
Operating Results |
Fiscal years ended March 31, |
||||||||||||
2021 |
% Change |
|||||||||||
(in billions, except percentages) |
||||||||||||
Interest income |
¥ | 3,927.1 | ¥ | 2,752.0 | (29.9 | )% | ||||||
Interest expense |
1,684.3 | 747.9 | (55.6 | ) | ||||||||
|
|
|
|
|||||||||
Net interest income |
2,242.8 | 2,004.1 | (10.6 | ) | ||||||||
|
|
|
|
|||||||||
Provision for credit losses |
321.7 | 484.2 | 50.5 | |||||||||
Non-interest income |
1,875.8 | 3,157.7 | 68.3 | |||||||||
Non-interest expense |
3,363.6 | 3,069.3 | (8.7 | ) | ||||||||
|
|
|
|
|||||||||
Income before income tax expense |
433.3 | 1,608.3 | 271.3 | |||||||||
Income tax expense |
114.6 | 444.9 | 288.6 | |||||||||
|
|
|
|
|||||||||
Net income before attribution of noncontrolling interests |
¥ | 318.7 | ¥ | 1,163.4 | 265.0 | % | ||||||
Net income attributable to noncontrolling interests |
12.7 | 46.1 | 261.3 | |||||||||
|
|
|
|
|||||||||
Net income attributable to Mitsubishi UFJ Financial Group |
¥ | 306.0 | ¥ | 1,117.3 | 265.2 | % | ||||||
|
|
|
|
Fiscal years ended March 31, |
||||||||||||||||||||||||||||||||||||
2021 |
% Change |
|||||||||||||||||||||||||||||||||||
Average balance (2) |
Interest income (expense) |
Average rate |
Average balance (2) |
Interest income (expense) |
Average rate |
Average balance (2) |
Interest income (expense) |
Average rate 2021 minus 2020 (percentage points) |
||||||||||||||||||||||||||||
(in billions, except percentages) |
||||||||||||||||||||||||||||||||||||
Interest-earning assets: |
||||||||||||||||||||||||||||||||||||
Domestic |
¥ | 145,258.9 | ¥ | 998.4 | 0.69 | % | ¥ | 168,888.8 | ¥ | 829.1 | 0.49 | % | 16.3 | % | (17.0 | )% | (0.20 | ) | ||||||||||||||||||
Foreign |
101,024.8 | 2,928.7 | 2.90 | 100,027.7 | 1,922.9 | 1.92 | (1.0 | ) | (34.3 | ) | (0.98 | ) | ||||||||||||||||||||||||
|
|
|
|
|||||||||||||||||||||||||||||||||
Total |
¥ | 246,283.7 | ¥ | 3,927.1 | 1.59 | % | ¥ | 268,916.5 | ¥ | 2,752.0 | 1.02 | % | 9.2 | % | (29.9 | )% | (0.57 | ) | ||||||||||||||||||
|
|
|
|
|||||||||||||||||||||||||||||||||
Financed by: |
||||||||||||||||||||||||||||||||||||
Interest-bearing liabilities: |
||||||||||||||||||||||||||||||||||||
Domestic |
¥ | 172,878.9 | ¥ | (473.4 | ) | 0.27 | % | ¥ | 198,978.3 | ¥ | (283.2 | ) | 0.14 | % | 15.1 | % | (40.2 | )% | (0.13 | ) | ||||||||||||||||
Foreign |
65,982.7 | (1,210.9 | ) | 1.84 | 66,934.7 | (464.7 | ) | 0.69 | 1.4 | (61.6 | ) | (1.15 | ) | |||||||||||||||||||||||
|
|
|
|
|||||||||||||||||||||||||||||||||
Total |
238,861.6 | (1,684.3 | ) | 0.71 | 265,913.0 | (747.9 | ) | 0.28 | 11.3 | (55.6 | ) | (0.43 | ) | |||||||||||||||||||||||
Non-interest-bearing liabilities |
7,422.1 | — | 3,003.5 | — | (59.5 | ) | — | |||||||||||||||||||||||||||||
|
|
|
|
|||||||||||||||||||||||||||||||||
Total |
¥ | 246,283.7 | 0.68 | % | ¥ | 268,916.5 | 0.28 | % | 9.2 | % | (0.41 | ) | ||||||||||||||||||||||||
|
|
|
|
|||||||||||||||||||||||||||||||||
Net interest income and interest rate spread |
¥ | 2,242.8 | 0.88 | % | ¥ | 2,004.1 | 0.74 | % | (10.6 | )% | (0.14 | ) | ||||||||||||||||||||||||
Net interest income as a percentage of total interest-earning assets |
0.91 | % | 0.75 | % | (0.16 | ) |
Increase (decrease) due to changes in |
||||||||||||
Volume (1) |
Rate (1) |
Net change |
||||||||||
(in millions) |
||||||||||||
Domestic |
¥ | 36,673 | ¥ | (15,848 | ) | ¥ | 20,825 | |||||
Foreign |
(86,895 | ) | (172,635 | ) | (259,530 | ) | ||||||
|
|
|
|
|
|
|||||||
Total |
¥ | (50,222 | ) | ¥ | (188,483 | ) | ¥ | (238,705 | ) | |||
|
|
|
|
|
|
(1) | Volume/rate variance is allocated based on the percentage relationship of changes in volume and changes in rate to the total “net change.” |
(2) | Average balances are generally based on a daily average while a month-end average is used for certain average balances when it is not practicable to obtain applicable daily averages. |
Fiscal years ended March 31, |
||||||||||||
2021 |
% Change |
|||||||||||
(in billions, except percentages) |
||||||||||||
Fees and commissions income: |
||||||||||||
Fees and commissions on deposits |
¥ | 53.7 | ¥ | 50.1 | (6.7 | )% | ||||||
Fees and commissions on remittances and transfers |
169.4 | 165.3 | (2.4 | ) | ||||||||
Fees and commissions on foreign trading business |
66.0 | 79.4 | 20.3 | |||||||||
Fees and commissions on credit card business |
238.1 | 199.6 | (16.2 | ) | ||||||||
Fees and commissions on security-related services |
221.5 | 244.0 | 10.2 | |||||||||
Fees and commissions on administration and management services for investment funds |
184.6 | 235.5 | 27.6 | |||||||||
Trust fees |
119.9 | 125.7 | 4.8 | |||||||||
Guarantee fees |
46.3 | 43.9 | (5.2 | ) | ||||||||
Insurance commissions |
44.4 | 42.1 | (5.2 | ) | ||||||||
Fees and commissions on real estate business |
49.8 | 48.1 | (3.4 | ) | ||||||||
Other fees and commissions |
308.4 | 293.6 | (4.8 | ) | ||||||||
|
|
|
|
|||||||||
Total |
1,502.1 | 1,527.3 | 1.7 | |||||||||
Foreign exchange gains (losses)—net |
(281.8 | ) | 99.3 | 135.3 | ||||||||
Trading account profits (losses)—net: |
||||||||||||
Net losses on interest rate and other derivative contracts |
(159.0 | ) | (429.6 | ) | (170.1 | ) | ||||||
Net profits on trading account securities, excluding derivatives |
924.4 | 19.2 | (97.9 | ) | ||||||||
|
|
|
|
|||||||||
Total |
765.4 | (410.4 | ) | (153.6 | ) | |||||||
Investment securities gains (losses)—net: |
||||||||||||
Net gains (losses) on sales of available-for-sale |
106.4 | (6.5 | ) | (106.1 | ) | |||||||
Impairment losses on available-for-sale |
(1.6 | ) | (0.6 | ) | 63.0 | |||||||
Net gains (losses) from marketable equity securities |
(646.0 | ) | 1,454.9 | 325.2 | ||||||||
Other |
9.0 | 10.5 | 16.0 | |||||||||
|
|
|
|
|||||||||
Total |
(532.2 | ) | 1,458.3 | 374.0 | ||||||||
Equity in earnings of equity method investees—net |
282.7 | 355.7 | 25.8 | |||||||||
Gains on sales of loans |
10.0 | 17.9 | 80.1 | |||||||||
Gain on remeasurement of previously held equity method investment (1) |
41.2 | — | (100.0 | ) | ||||||||
Other non-interest income |
88.4 | 109.6 | 24.0 | |||||||||
|
|
|
|
|||||||||
Total non-interest income |
¥ | 1,875.8 | ¥ | 3,157.7 | 68.4 | % | ||||||
|
|
|
|
(1) | Represents profits recognized in connection with our acquisition of Bank Danamon. See Note 2 to our consolidated financial statements. |
Fiscal years ended March 31, |
||||||||||||
2021 |
% Change |
|||||||||||
(in billions, except percentages) |
||||||||||||
Foreign exchange gains (losses)—net: |
||||||||||||
Net foreign exchange losses on derivative contracts |
¥ | (434.1 | ) | ¥ | (79.6 | ) | 81.7 | % | ||||
Net foreign exchange gains (losses) on other than derivative contracts |
748.3 | (544.6 | ) | (172.8 | ) | |||||||
Net foreign exchange gains (losses) related to the fair value option |
(596.0 | ) | 723.5 | 221.4 | ||||||||
|
|
|
|
|||||||||
Total |
¥ | (281.8 | ) | ¥ | 99.3 | 135.3 | % | |||||
|
|
|
|
• | Net foreign exchange gains (losses) on derivative contracts |
• | Net foreign exchange gains (losses) on other than derivative contracts |
• | Net foreign exchange gains (losses) related to the fair value option |
Fiscal years ended March 31, |
||||||||||||
2021 |
% Change |
|||||||||||
(in billions, except percentages) |
||||||||||||
Trading account profits (losses)—net: |
||||||||||||
Net profits (losses) on interest rate and other derivative contracts |
||||||||||||
Interest rate contracts |
¥ | (173.2 | ) | ¥ | 70.1 | 140.5 | % | |||||
Equity contracts |
29.8 | (269.4 | ) | N/M | ||||||||
Credit derivatives |
14.9 | (52.7 | ) | (454.4 | ) | |||||||
Other |
(30.5 | ) | (177.6 | ) | (482.4 | ) | ||||||
|
|
|
|
|||||||||
Total |
¥ | (159.0 | ) | ¥ | (429.6 | ) | (170.1 | )% | ||||
|
|
|
|
|||||||||
Net profits (losses) on trading account securities, excluding derivatives |
||||||||||||
Trading account securities |
¥ | 86.6 | ¥ | 389.4 | 349.8 | % | ||||||
Trading account securities under the fair value option |
837.8 | (370.2 | ) | (144.2 | ) | |||||||
|
|
|
|
|||||||||
Total |
¥ | 924.4 | ¥ | 19.2 | (97.9 | )% | ||||||
|
|
|
|
|||||||||
Total |
¥ | 765.4 | ¥ | (410.4 | ) | (153.6 | )% | |||||
|
|
|
|
• | trading purpose activities, which are conducted mainly for the purpose of generating profits either through transaction fees or arbitrage gains and involve frequent and short-term selling and buying of securities, commodities or others; and |
• | trading account assets relating to the application of certain accounting rules, which are generally not related to trading purpose activities, but simply classified as trading accounts due to the application of certain accounting rules. |
• |
• |
• | Credit derivatives |
• | Net profits (losses) on trading account securities |
• | Net profits (losses) on trading account securities under the fair value option |
Fiscal years ended March 31, |
||||||||||||
2021 |
% Change |
|||||||||||
(in billions, except percentages) |
||||||||||||
Salaries and employee benefits |
¥ | 1,242.6 | ¥ | 1,253.5 | 0.9 | % | ||||||
Occupancy expenses—net |
182.9 | 178.1 | (2.6 | ) | ||||||||
Fees and commissions expenses |
332.0 | 318.8 | (4.0 | ) | ||||||||
Outsourcing expenses, including data processing |
303.6 | 298.8 | (1.6 | ) | ||||||||
Depreciation of premises and equipment |
113.5 | 87.3 | (23.1 | ) | ||||||||
Amortization of intangible assets |
237.3 | 250.1 | 5.4 | |||||||||
Impairment of intangible assets |
3.7 | 21.7 | 480.9 | |||||||||
Insurance premiums, including deposit insurance |
98.4 | 90.5 | (8.0 | ) | ||||||||
Communications |
60.0 | 59.8 | (0.3 | ) | ||||||||
Taxes and public charges |
100.2 | 97.8 | (2.4 | ) | ||||||||
Impairment of goodwill |
383.8 | 147.6 | (61.6 | ) | ||||||||
Reversal of off-balance sheet credit instruments |
(62.3 | ) | (56.7 | ) | 8.9 | |||||||
Other non-interest expenses |
367.9 | 322.0 | (12.4 | ) | ||||||||
|
|
|
|
|||||||||
Total non-interest expense |
¥ | 3,363.6 | ¥ | 3,069.3 | (8.7 | )% | ||||||
|
|
|
|
Fiscal years ended March 31, |
||||||||||||
2021 |
% Change |
|||||||||||
(in billions, except percentages) |
||||||||||||
Income before income tax expense |
¥ | 433.2 | ¥ | 1,608.3 | 271.3 | % | ||||||
Income tax expense |
114.5 | 444.9 | 288.6 | % | ||||||||
Effective income tax rate |
26.4 | % | 27.7 | % | — | |||||||
Combined normal effective statutory tax rate |
30.6 | % | 30.6 | % | — |
Fiscal years ended March 31, |
||||||||||||
2021 |
Net Change (percentage points) |
|||||||||||
Combined normal effective statutory tax rate |
30.6 | % | 30.6 | % | — | |||||||
Increase (decrease) in taxes resulting from: |
||||||||||||
Nondeductible expenses |
1.2 | 0.3 | (0.9 | ) | ||||||||
Impairment of goodwill |
26.1 | 2.4 | (23.7 | ) | ||||||||
Foreign tax credit and payments |
(9.2 | ) | (0.9 | ) | 8.3 | |||||||
Lower tax rates applicable to income of subsidiaries |
(3.2 | ) | (1.0 | ) | 2.2 | |||||||
Change in valuation allowance |
7.9 | (0.9 | ) | (8.8 | ) | |||||||
Realization of previously unrecognized tax effects of subsidiaries |
(19.8 | ) | 0.0 | 19.8 | ||||||||
Nontaxable dividends received |
(15.6 | ) | (1.9 | ) | 13.7 | |||||||
Undistributed earnings of subsidiaries |
3.6 | 0.0 | (3.6 | ) | ||||||||
Tax and interest expense for uncertainty in income taxes |
0.0 | (0.1 | ) | (0.1 | ) | |||||||
Noncontrolling interest income (loss) |
(0.1 | ) | 0.1 | 0.2 | ||||||||
Effect of changes in tax laws |
— | (0.1 | ) | (0.1 | ) | |||||||
Expiration of loss carryforward |
1.9 | 0.1 | (1.8 | ) | ||||||||
Other—net |
3.0 | (0.9 | ) | (3.9 | ) | |||||||
|
|
|
|
|
|
|||||||
Effective income tax rate |
26.4 | % | 27.7 | % | 1.3 | |||||||
|
|
|
|
|
|
Customer Business |
||||||||||||||||||||||||||||||||||||
Fiscal year ended March 31, 2019 |
Retail & Commercial Banking Business Group |
Japanese Corporate & Investment Banking Business Group |
Global Corporate & Investment Banking Business Group |
Global Commercial Banking Business Group |
Asset Management & Investor Services Business Group |
Total |
Global Markets Business Group |
Other |
Total |
|||||||||||||||||||||||||||
(in billions) |
||||||||||||||||||||||||||||||||||||
Net revenue |
¥ | 1,502.5 | ¥ | 569.6 | ¥ | 417.4 | ¥ | 682.0 | ¥ | 203.0 | ¥ | 3,374.5 | ¥ | 436.0 | ¥ | (11.4 | ) | ¥ | 3,799.1 | |||||||||||||||||
BK and TB (1) : |
718.9 | 436.9 | 279.2 | (1.3 | ) | 93.2 | 1,526.9 | 259.8 | 74.3 | 1,861.0 | ||||||||||||||||||||||||||
Net interest income |
458.2 | 175.8 | 120.6 | (1.3 | ) | — | 753.3 | 201.1 | 190.8 | 1,145.2 | ||||||||||||||||||||||||||
Net fees |
229.8 | 202.9 | 158.0 | — | 93.2 | 683.9 | (16.6 | ) | (46.4 | ) | 620.9 | |||||||||||||||||||||||||
Other |
30.9 | 58.2 | 0.6 | — | — | 89.7 | 75.3 | (70.1 | ) | 94.9 | ||||||||||||||||||||||||||
Other than BK and TB |
783.6 | 132.7 | 138.2 | 683.3 | 109.8 | 1,847.6 | 176.2 | (85.7 | ) | 1,938.1 | ||||||||||||||||||||||||||
Operating expenses |
1,220.9 | 319.5 | 254.9 | 477.8 | 124.6 | 2,397.7 | 226.0 | 103.1 | 2,726.8 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Operating profit (loss) |
¥ | 281.6 | ¥ | 250.1 | ¥ | 162.5 | ¥ | 204.2 | ¥ | 78.4 | ¥ | 976.8 | ¥ | 210.0 | ¥ | (114.5 | ) | ¥ | 1,072.3 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) | “BK and TB” is a sum of MUFG Bank on a stand-alone basis and Mitsubishi UFJ Trust and Banking on a stand-alone basis. |
Customer Business |
||||||||||||||||||||||||||||||||||||
Fiscal year ended March 31, 2020 |
Retail & Commercial Banking Business Group |
Japanese Corporate & Investment Banking Business Group |
Global Corporate & Investment Banking Business Group |
Global Commercial Banking Business Group |
Asset Management & Investor Services Business Group |
Total |
Global Markets Business Group |
Other |
Total |
|||||||||||||||||||||||||||
(in billions) |
||||||||||||||||||||||||||||||||||||
Net revenue |
¥ | 1,485.5 | ¥ | 572.7 | ¥ | 402.2 | ¥ | 795.4 | ¥ | 243.0 | ¥ | 3,498.8 | ¥ | 536.0 | ¥ | 19.8 | ¥ | 4,054.6 | ||||||||||||||||||
BK and TB (1) : |
706.6 | 439.1 | 287.1 | (0.4 | ) | 94.6 | 1,527.0 | 319.3 | 31.9 | 1,878.2 | ||||||||||||||||||||||||||
Net interest income |
444.4 | 185.7 | 121.4 | 0.4 | 2.5 | 754.4 | 129.5 | 46.4 | 930.3 | |||||||||||||||||||||||||||
Net fees |
231.8 | 203.2 | 148.1 | — | 92.2 | 675.3 | (14.8 | ) | (55.1 | ) | 605.4 | |||||||||||||||||||||||||
Other |
30.4 | 50.2 | 17.6 | (0.8 | ) | (0.1 | ) | 97.3 | 204.6 | 40.6 | 342.5 | |||||||||||||||||||||||||
Other than BK and TB |
778.9 | 133.6 | 115.1 | 795.8 | 148.4 | 1,971.8 | 216.7 | (12.1 | ) | 2,176.4 | ||||||||||||||||||||||||||
Operating expenses |
1,195.9 | 324.4 | 260.8 | 564.3 | 171.7 | 2,517.1 | 233.2 | 129.3 | 2,879.6 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Operating profit (loss) |
¥ | 289.6 | ¥ | 248.3 | ¥ | 141.4 | ¥ | 231.1 | ¥ | 71.3 | ¥ | 981.7 | ¥ | 302.8 | ¥ | (109.5 | ) | ¥ | 1,175.0 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) | “BK and TB” is a sum of MUFG Bank on a stand-alone basis and Mitsubishi UFJ Trust and Banking on a stand-alone basis. |
Customer Business |
||||||||||||||||||||||||||||||||||||
Fiscal year ended March 31, 2021 |
Retail & Commercial Banking Business Group |
Japanese Corporate & Investment Banking Business Group |
Global Corporate & Investment Banking Business Group |
Global Commercial Banking Business Group |
Asset Management & Investor Services Business Group |
Total |
Global Markets Business Group |
Other |
Total |
|||||||||||||||||||||||||||
(in billions) |
||||||||||||||||||||||||||||||||||||
Net revenue |
¥ | 1,389.4 | ¥ | 559.9 | ¥ | 426.3 | ¥ | 783.2 | ¥ | 293.5 | ¥ | 3,452.3 | ¥ | 634.8 | ¥ | (4.8 | ) | ¥ | 4,082.3 | |||||||||||||||||
BK and TB (1) : |
645.1 | 448.8 | 269.3 | 0.8 | 99.4 | 1,463.4 | 389.0 | 30.4 | 1,882.8 | |||||||||||||||||||||||||||
Net interest income |
405.2 | 183.8 | 133.2 | 1.5 | 5.5 | 729.2 | 213.1 | 34.1 | 976.4 | |||||||||||||||||||||||||||
Net fees |
216.4 | 216.8 | 150.2 | — | 94.0 | 677.4 | (4.3 | ) | (66.8 | ) | 606.3 | |||||||||||||||||||||||||
Other |
23.5 | 48.2 | (14.1 | ) | (0.7 | ) | (0.1 | ) | 56.8 | 180.2 | 63.1 | 300.1 | ||||||||||||||||||||||||
Other than BK and TB |
744.3 | 111.1 | 157.0 | 782.4 | 194.1 | 1,988.9 | 245.8 | (35.2 | ) | 2,199.5 | ||||||||||||||||||||||||||
Operating expenses |
1,130.4 | 319.3 | 269.8 | 509.0 | 210.1 | 2,438.6 | 234.0 | 161.1 | 2,833.7 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Operating profit (loss) |
¥ | 259.0 | ¥ | 240.6 | ¥ | 156.5 | ¥ | 274.2 | ¥ | 83.4 | ¥ | 1,013.7 | ¥ | 400.8 | ¥ | (165.9 | ) | ¥ | 1,248.6 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) | “BK and TB” is a sum of MUFG Bank on a stand-alone basis and Mitsubishi UFJ Trust and Banking on a stand-alone basis. |
• | increasing the operating profits of Other, the Global Corporate & Investment Banking Business Group and the Japanese Corporate & Investment Banking Business Group by ¥33.8billion, ¥20.2billion and ¥14.2billion, respectively, for the fiscal year ended March 31, 2019, |
• | reducing the operating profits of the Global Markets Business Group, the Retail & Commercial Banking Business Group and the Global Commercial Banking Business Group by ¥46.3billion, ¥19.1billion and ¥2.8billion, respectively, for the fiscal year ended March 31, 2019, |
• | increasing the operating profits of Other, the Japanese Corporate & Investment Banking Business Group and the Global Corporate & Investment Banking Business Group by ¥25.5billion, ¥13.0billion and ¥12.4billion, respectively, for the fiscal year ended March 31, 2020, and |
• | reducing the operating profits of the Global Markets Business Group, the Retail & Commercial Banking Business Group and the Global Commercial Banking Business Group by ¥40.2billion, ¥9.0billion and ¥1.7billion, respectively, for the fiscal year ended March 31, 2020. |
Fiscal years ended March 31, |
||||||||||||
2021 |
% Change |
|||||||||||
(in billions) |
||||||||||||
Total revenue (interest income and non-interest income): |
||||||||||||
Domestic |
¥ | 1,596.8 | ¥ | 3,348.7 | 109.7 | % | ||||||
|
|
|
|
|||||||||
Foreign: |
||||||||||||
United States of America |
2,224.0 | 741.1 | (66.7 | ) | ||||||||
Europe |
89.4 | 356.1 | 298.3 | |||||||||
Asia/Oceania excluding Japan |
1,326.4 | 1,134.3 | (14.5 | ) | ||||||||
Other areas (1) |
566.2 | 329.6 | (41.8 | ) | ||||||||
|
|
|
|
|||||||||
Total foreign |
4,206.0 | 2,561.1 | (39.1 | ) | ||||||||
|
|
|
|
|||||||||
Total |
¥ | 5,802.8 | ¥ | 5,909.8 | 1.8 | % | ||||||
|
|
|
|
|||||||||
Income (loss) before income tax expense (benefit): |
||||||||||||
Domestic |
¥ | (969.1 | ) | ¥ | 1,032.4 | 206.5 | % | |||||
|
|
|
|
|||||||||
Foreign: |
||||||||||||
United States of America |
1,172.8 | 27.7 | (97.6 | ) | ||||||||
Europe |
(129.2 | ) | 92.4 | 171.6 | ||||||||
Asia/Oceania excluding Japan |
152.2 | 244.7 | 60.8 | |||||||||
Other areas (1) |
206.6 | 211.1 | 2.3 | |||||||||
|
|
|
|
|||||||||
Total foreign |
1,402.4 | 575.9 | (58.9 | ) | ||||||||
|
|
|
|
|||||||||
Total |
¥ | 433.3 | ¥ | 1,608.3 | 271.3 | % | ||||||
|
|
|
|
|||||||||
Net income (loss) attributable to Mitsubishi UFJ Financial Group |
||||||||||||
Domestic |
¥ | (1,001.5 | ) | ¥ | 627.1 | 162.6 | % | |||||
|
|
|
|
|||||||||
Foreign: |
||||||||||||
United States of America |
1,114.0 | (231.1 | ) | (120.7 | ) | |||||||
Europe |
(140.4 | ) | 74.2 | 152.9 | ||||||||
Asia/Oceania excluding Japan |
142.6 | 366.9 | 157.3 | |||||||||
Other areas (1) |
191.3 | 280.2 | 46.4 | |||||||||
|
|
|
|
|||||||||
Total foreign |
1,307.5 | 490.2 | (62.5 | ) | ||||||||
|
|
|
|
|||||||||
Total |
¥ | 306.0 | ¥ | 1,117.3 | 265.2 | % | ||||||
|
|
|
|
(1) | Other areas primarily include Canada, Latin America, the Caribbean and the Middle East. |
B. |
Liquidity and Capital Resources |
As of March 31, |
||||||||||||
2021 |
% Change |
|||||||||||
(in billions, except percentages) |
||||||||||||
Japan |
¥ | 207,532.3 | ¥ | 240.603.9 | 15.9 | % | ||||||
Foreign (1) : |
||||||||||||
United States |
60,587.9 | 49,478.9 | (18.3 | ) | ||||||||
Europe |
19,099.4 | 21,126.6 | 10.6 | |||||||||
Asia/Oceania excluding Japan |
30,845.9 | 31,368.4 | 1.7 | |||||||||
Other areas (2) |
13,687.8 | 11,246.8 | (17.8 | ) | ||||||||
|
|
|
|
|||||||||
Total foreign |
124,221.0 | 113,220.7 | (8.9 | ) | ||||||||
|
|
|
|
|||||||||
Total |
¥ | 331,753.3 | ¥ | 353,824.6 | 6.7 | % | ||||||
|
|
|
|
(1) | Foreign assets are denominated primarily in the U.S. dollar. Geographic regions are based principally on the domicile of the obligors. |
(2) | Other areas primarily include Canada, Latin America, the Caribbean and the Middle East. |
As of March 31, |
||||||||||||
2021 |
% Change |
|||||||||||
(in billions, except percentages) |
||||||||||||
Domestic: |
||||||||||||
Manufacturing |
¥ | 11,448.8 | ¥ | 13,133.4 | 14.7 | % | ||||||
Construction |
733.2 | 764.0 | 4.2 | |||||||||
Real estate |
12,054.7 | 11,997.3 | (0.5 | ) | ||||||||
Services |
2,585.1 | 2,909.0 | 12.5 | |||||||||
Wholesale and retail |
7,504.6 | 7,766.1 | 3.5 | |||||||||
Banks and other financial institutions (1) |
5,161.1 | 6,443.3 | 24.8 | |||||||||
Communication and information services |
1,572.3 | 1,407.7 | (10.5 | ) | ||||||||
Other industries |
8,673.9 | 8,838.7 | 1.9 | |||||||||
Consumer |
15,319.7 | 15,066.9 | (1.6 | ) | ||||||||
|
|
|
|
|||||||||
Total domestic |
65,053.4 | 68,326.4 | 5.0 | |||||||||
|
|
|
|
|||||||||
Foreign: |
||||||||||||
Governments and official institutions |
726.3 | 655.4 | (9.8 | ) | ||||||||
Banks and other financial institutions (1) |
11,788.2 | 10,649.0 | (9.7 | ) | ||||||||
Commercial and industrial |
32,565.0 | 29,574.1 | (9.2 | ) | ||||||||
Other |
8,404.1 | 6,822.8 | (18.8 | ) | ||||||||
|
|
|
|
|||||||||
Total foreign |
53,483.6 | 47,701.3 | (10.8 | ) | ||||||||
|
|
|
|
|||||||||
Unearned income, unamortized premium—net and deferred loan fees—net |
(350.3 | ) | (308.8 | ) | 11.8 | |||||||
|
|
|
|
|||||||||
Total (2) |
¥ | 118,186.7 | ¥ | 115,718.9 | (2.1 | )% | ||||||
|
|
|
|
(1) | Loans to so-called “non-bank finance companies” are generally included in the “Banks and other financial institutions” category. Non-bank finance companies are primarily engaged in consumer lending, factoring and credit card businesses. |
(2) | The above table includes loans held for sale of ¥344.8 billion and ¥353.1 billion as of March 31, 2020 and 2021, respectively, which are carried at the lower of cost or fair value. |
As of March 31, 2020: |
Normal |
Close Watch |
Likely to become Bankrupt or Legally/ Virtually Bankrupt |
Total (1) |
||||||||||||
(in billions) |
||||||||||||||||
Commercial |
||||||||||||||||
Domestic |
¥ | 49,695.9 | ¥ | 1,186.1 | ¥ | 220.2 | ¥ | 51,102.2 | ||||||||
Foreign (2) |
34,719.1 | 636.5 | 128.1 | 35,483.7 | ||||||||||||
Loans acquired with deteriorated credit quality |
8.2 | 9.7 | 19.0 | 36.9 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
¥ | 84,423.2 | ¥ | 1,832.3 | ¥ | 367.3 | ¥ | 86,622.8 | ||||||||
|
|
|
|
|
|
|
|
Accrual |
Nonaccrual |
Total (1) |
||||||||||
(in billions) |
||||||||||||
Residential |
¥ | 13,256.8 | ¥ | 61.7 | ¥ | 13,318.5 | ||||||
Card |
¥ | 504.3 | ¥ | 61.3 | ¥ | 565.6 |
Credit Quality Based on the Number of Delinquencies |
Credit Quality Based on Internal Credit Ratings |
Total (1)(3) |
||||||||||||||||||||||
Accrual |
Nonaccrual |
Pass |
Special Mention |
Classified |
||||||||||||||||||||
(in billions) |
||||||||||||||||||||||||
MUFG Americas Holdings |
¥ | 4,590.8 | ¥ | 15.1 | ¥ | 4,877.9 | ¥ | 87.6 | ¥ | 84.0 | ¥ | 9,655.4 |
Performing |
Under- Performing |
Non- Performing |
Total (1) |
|||||||||||||
(in billions) |
||||||||||||||||
Krungsri |
¥ | 6,241.7 | ¥ | 508.9 | ¥ | 161.0 | ¥ | 6,911.6 |
Accrual |
Nonaccrual |
Total (1) |
||||||||||
(in billions) |
||||||||||||
Other |
¥ | 1,086.5 | ¥ | 31.4 | ¥ | 1,117.9 |
As of March 31, 2021: |
Normal |
Close Watch |
Likely to become Bankrupt or Legally/ Virtually Bankrupt |
Total (1) |
||||||||||||
(in billions) |
||||||||||||||||
Commercial |
||||||||||||||||
Domestic |
¥ | 52,580.4 | ¥ | 1,806.7 | ¥ | 246.1 | ¥ | 54,633.2 | ||||||||
Foreign (2) |
30,249.2 | 788,9 | 254.2 | 31,292.3 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
¥ | 82,829.6 | ¥ | 2,595.6 | ¥ | 500.3 | ¥ | 85,925.5 | ||||||||
|
|
|
|
|
|
|
|
Accrual |
Nonaccrual |
Total (1) |
||||||||||
(in billions) |
||||||||||||
Residential |
¥ | 13,116.6 | ¥ | 66.2 | ¥ | 13,182.8 | ||||||
Card |
¥ | 419.1 | ¥ | 60.2 | ¥ | 479.3 |
Credit Quality Based on the Number of Delinquencies |
Credit Quality Based on Internal Credit Ratings |
Total (1)(3) |
||||||||||||||||||||||
Accrual |
Nonaccrual |
Pass |
Special Mention |
Classified |
||||||||||||||||||||
(in billions) |
||||||||||||||||||||||||
MUFG Americas Holdings |
¥ | 3,260.9 | ¥ | 19.0 | ¥ | 4,807.7 | ¥ | 216.9 | ¥ | 191.3 | ¥ | 8,495.8 |
Performing |
Under- Performing |
Non- Performing |
Total (1) |
|||||||||||||
(in billions) |
||||||||||||||||
Krungsri |
¥ | 5,939.4 | ¥ | 503.9 | ¥ | 161.3 | ¥ | 6,604.6 |
Accrual |
Nonaccrual |
Total (1) |
||||||||||
(in billions) |
||||||||||||
Other |
¥ | 960.1 | ¥ | 26.6 | ¥ | 986.7 |
(1) | Total loans in the above table do not include loans held for sale, and represent balances without adjustments in relation to unearned income, unamortized premiums and deferred loan fees. |
(2) | Excludes the loans held by MUFG Americas Holdings, Krungsri and Other. |
(3) | Total loans of MUFG Americas Holdings do not include FDIC covered loans and small business loans which are not individually rated totaling ¥0.4 billion and nil as of March 31, 2020 and 2021, respectively. We will be reimbursed for a substantial portion of any future losses on FDIC covered loans under the terms of the FDIC loss share agreements. |
Fiscal year ended March 31, 2020: |
Commercial |
Residential |
Card |
MUFG Americas Holdings |
Krungsri |
Other |
Total |
|||||||||||||||||||||
(in billions) |
||||||||||||||||||||||||||||
Allowance for credit losses: |
||||||||||||||||||||||||||||
Balance at beginning of fiscal year |
¥ | 389.6 | ¥ | 38.6 | ¥ | 32.6 | ¥ | 52.6 | ¥ | 144.8 | ¥ | — | ¥ | 658.2 | ||||||||||||||
Provision for (reversal of) credit losses |
153.8 | (1.0 | ) | 26.5 | 30.9 | 70.0 | 41.5 | 321.7 | ||||||||||||||||||||
Charge-offs |
85.3 | 3.3 | 25.1 | 27.9 | 77.9 | 23.6 | 243.1 | |||||||||||||||||||||
Recoveries collected |
26.4 | 0.4 | 1.2 | 4.1 | 23.2 | 8.5 | 63.8 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Net charge-offs |
58.9 | 2.9 | 23.9 | 23.8 | 54.7 | 15.1 | 179.3 | |||||||||||||||||||||
Other (1) |
(2.2 | ) | — | — | (0.7 | ) | 9.5 | 2.3 | 8.9 | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Balance at end of fiscal year |
¥ | 482.3 | ¥ | 34.7 | ¥ | 35.2 | ¥ | 59.0 | ¥ | 169.6 | ¥ | 28.7 | ¥ | 809.5 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fiscal year ended March 31, 2021: |
Commercial |
Residential |
Card |
MUFG Americas Holdings |
Krungsri |
Other |
Total |
|||||||||||||||||||||
(in billions) |
||||||||||||||||||||||||||||
Allowance for credit losses: |
||||||||||||||||||||||||||||
Balance at beginning of fiscal year |
¥ | 482.3 | ¥ | 34.7 | ¥ | 35.2 | ¥ | 59.0 | ¥ | 169.6 | ¥ | 28.7 | ¥ | 809.5 | ||||||||||||||
Effect of adopting new guidance on measurement of credit losses on financial instruments (2) |
83.8 | 49.5 | 14.2 | 25.0 | 118.4 | 32.8 | 323.7 | |||||||||||||||||||||
Provision for credit losses |
235.6 | 1.4 | 17.9 | 90.1 | 90.1 | 49.1 | 484.2 | |||||||||||||||||||||
Charge-offs |
77.9 | 2.7 | 24.6 | 40.4 | 93.2 | 51.7 | 290.5 | |||||||||||||||||||||
Recoveries collected |
9.3 | 0.0 | 1.5 | 4.4 | 23.4 | 6.5 | 45.1 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Net charge-offs |
68.6 | 2.7 | 23.1 | 36.0 | 69.8 | 45.2 | 245.4 | |||||||||||||||||||||
Other (1) |
1.5 | — | — | (6.3 | ) | (14.9 | ) | (3.9 | ) | (23.6 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Balance at end of fiscal year |
¥ | 734.6 | ¥ | 82.9 | ¥ | 44.2 | ¥ | 131.8 | ¥ | 293.4 | ¥ | 61.5 | ¥ | 1,348.4 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) | Other is principally comprised of gains or losses from foreign exchange translation. |
(2) | See Note 1 (Accounting Changes) to our consolidated financial statements for more information. |
As of March 31, |
||||||||||||
2021 |
% Change |
|||||||||||
(in billions, except percentages) |
||||||||||||
Commercial |
¥ | 440.0 | ¥ | 824.0 | 87.3 | % | ||||||
Domestic |
313.0 | 565.6 | 80.7 | |||||||||
Foreign (1) |
127.0 | 258.4 | 103.5 | |||||||||
Residential |
64.0 | 68.0 | 6.2 | |||||||||
Card |
61.2 | 60.2 | (1.6 | ) | ||||||||
MUFG Americas Holdings |
35.8 | 73.7 | 105.7 | |||||||||
Krungsri |
149.7 | 161.3 | 7.8 | |||||||||
Other |
27.8 | 26.6 | (4.3 | ) | ||||||||
|
|
|
|
|||||||||
Total (2) |
¥ | 778.5 | ¥ | 1,213.8 | 55.9 | % | ||||||
|
|
|
|
(1) | Excludes the loans held by MUFG Americas Holdings, Krungsri and Other. |
(2) | The above table does not include loans held for sale of ¥0.3 billion and ¥8.6 billion as of March 31, 2020 and 2021, respectively, and loans acquired with deteriorated credit quality of ¥25.4 billion as of March 31, 2020. |
As of March 31, |
% Change |
|||||||||||||||||||||||||||||||||||
2020 |
2021 |
|||||||||||||||||||||||||||||||||||
Amortized cost |
Fair value |
Net unrealized gains (losses) |
Amortized cost |
Fair value |
Net unrealized gains (losses) |
Amortized cost |
Fair value |
Net unrealized gains (losses) |
||||||||||||||||||||||||||||
(in billions, except percentages) |
||||||||||||||||||||||||||||||||||||
Available-for-sale |
||||||||||||||||||||||||||||||||||||
Japanese government and Japanese government agency bonds |
¥ | 23,308.5 | ¥ | 23,462.9 | ¥ | 154.4 | ¥ | 35,166.2 | ¥ | 35,273.2 | ¥ | 107.0 | 50.9 | % | 50.3 | % | (30.7 | )% | ||||||||||||||||||
Japanese prefectural and municipal bonds |
2,938.7 | 2,952.8 | 14.1 | 3,719.2 | 3,731.5 | 12.3 | 26.6 | 26.4 | (12.6 | ) | ||||||||||||||||||||||||||
Foreign government and official institution bonds |
2,936.1 | 3,037.5 | 101.4 | 2,854.0 | 2,927.0 | 73.0 | (2.8 | ) | (3.6 | ) | (28.1 | ) | ||||||||||||||||||||||||
Corporate bonds |
1,261.6 | 1,272.8 | 11.2 | 1,123.3 | 1,134.3 | 11.0 | (11.0 | ) | (10.9 | ) | (2.1 | ) | ||||||||||||||||||||||||
Mortgage-backed securities |
1,840.0 | 1,841.6 | 1.6 | 1,895.0 | 1,931.6 | 36.6 | 3.0 | 4.9 | N/M | |||||||||||||||||||||||||||
Asset-backed securities |
1,461.1 | 1,469.5 | 8.4 | 1,373.5 | 1,384.5 | 11.0 | (6.0 | ) | (5.8 | ) | 31.5 | |||||||||||||||||||||||||
Commercial paper |
— | — | — | 564.1 | 564.1 | 0.0 | N/M | N/M | N/M | |||||||||||||||||||||||||||
Other debt securities |
161.8 | 163.1 | 1.3 | 168.5 | 171.6 | 3.1 | 4.1 | 5.2 | 147.2 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Total available-for-sale |
¥ | 33,907.8 | ¥ | 34,200.2 | ¥ | 292.4 | ¥ | 46,863.8 | ¥ | 47,117.8 | ¥ | 254.0 | 38.2 | % | 37.8 | % | (13.2 | )% | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Held-to-maturity (1) |
¥ | 4,165.8 | ¥ | 4,177.9 | ¥ | 12.1 | ¥ | 3,903.8 | ¥ | 3,939.1 | ¥ | 35.3 | (6.3 | )% | (5.7 | )% | 192.1 | % | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
(1) | See Note 3 to our consolidated financial statements for more details. |
As of March 31, |
% Change |
|||||||||||
2020 |
2021 |
|||||||||||
(in billions, except percentages) |
||||||||||||
Marketable equity securities |
¥ | 4,768.3 | ¥ | 5,759.5 | 20.8 | % | ||||||
Nonmarketable equity securities: |
||||||||||||
Unlisted preferred securities (1) |
350.0 | 159.3 | (54.5 | ) | ||||||||
Other (2) |
226.9 | 258.5 | 13.9 | |||||||||
Investment securities held by investment companies and brokers and dealers (3) |
40.0 | 45.6 | 14.0 | |||||||||
|
|
|
|
|||||||||
Total |
¥ | 5,385.2 | ¥ | 6,222.9 | 15.6 | % | ||||||
|
|
|
|
(1) | These securities are mainly issued by public companies, including preferred stocks issued by Morgan Stanley, and other unlisted preferred securities issued by several public companies. Those securities are primarily carried at cost. |
(2) | These securities are equity securities issued by unlisted companies other than unlisted preferred securities. Those securities are primarily carried at cost. |
(3) | These investment securities are held by certain subsidiaries subject to specialized industry accounting principles for investment companies and brokers and dealers, and are measured at fair value. |
As of March 31, |
% Change |
|||||||||||
2020 |
2021 |
|||||||||||
(in billions, except percentages) |
||||||||||||
Capital stock |
¥ | 2,090.3 | ¥ | 2,090.3 | 0.0 | % | ||||||
Capital surplus |
5,533.5 | 5,533.8 | 0.0 | |||||||||
Retained earnings |
8,319.1 | 8,829.5 | 6.1 | |||||||||
Retained earnings appropriated for legal reserve |
239.6 | 239.6 | 0.0 | |||||||||
Unappropriated retained earnings |
8,079.5 | 8,589.9 | 6.3 | |||||||||
Accumulated other comprehensive losses, net of taxes |
(420.4 | ) | (289.5 | ) | 31.1 | |||||||
Treasury stock, at cost |
(506.0 | ) | (503.2 | ) | 0.6 | |||||||
|
|
|
|
|||||||||
Total Mitsubishi UFJ Financial Group shareholders’ equity |
¥ | 15,016.5 | ¥ | 15,660.9 | 4.3 | % | ||||||
Noncontrolling interests |
728.0 | 583.6 | (19.8 | ) | ||||||||
|
|
|
|
|||||||||
Total equity |
¥ | 15,744.5 | ¥ | 16,244.5 | 3.2 | % | ||||||
|
|
|
|
|||||||||
Ratio of total equity to total assets |
4.75 | % | 4.59 | % |
As of March 31, 2020 |
Minimum ratios required (1) |
As of March 31, 2021 |
Minimum ratios required (1) |
|||||||||||||
(in billions, except percentages) |
||||||||||||||||
Capital components: |
||||||||||||||||
Common Equity Tier 1 |
¥ | 13,708.3 | ¥ | 14,113.7 | ||||||||||||
Additional Tier 1 |
1,914.9 | 1,869.0 | ||||||||||||||
Tier 1 capital |
15,623.3 | 15,982.7 | ||||||||||||||
Tier 2 capital |
2,656.2 | 2,686.7 | ||||||||||||||
Total capital |
¥ | 18,279.5 | ¥ | 18,669.5 | ||||||||||||
Risk-weighted assets |
¥ | 115,135.6 | ¥ | 114,419.3 | ||||||||||||
Capital ratios: |
||||||||||||||||
Common Equity Tier 1 capital |
11.90 | % | 8.51 | % | 12.33 | % | 8.50 | % | ||||||||
Tier 1 capital |
13.56 | 10.01 | 13.96 | 10.00 | ||||||||||||
Total capital |
15.87 | 12.01 | 16.31 | 12.00 | ||||||||||||
Leverage ratio (2) |
4.42 | 3.00 | 5.45 | 3.00 | ||||||||||||
External TLAC ratios |
||||||||||||||||
Risk-weighted assets basis (3) |
18.62 | 16.00 | 18.94 | 16.00 | ||||||||||||
Leverage exposure basis |
7.38 | 6.00 | 8.96 | 6.00 |
(1) | The minimum capital ratios required as of March 31, 2020 include a capital conservation buffer of 2.5%, a G-SIB surcharge of 1.5% and a countercyclical buffer of 0.01%. The minimum capital ratios required as of March 31, 2021 include a capital conservation buffer of 2.5%, a G-SIB surcharge of 1.5% and a countercyclical buffer of 0.00%. |
(2) | Deposits with the Bank of Japan are excluded from the leverage exposure as of March 31, 2021, based on notification issued by the FSA. |
(3) | The TLAC ratio on a risk-weighted assets basis and the required minimum ratios as of March 31, 2020 do not include the regulatory capital buffers consisting of a capital conservation buffer of 2.5%, a G-SIB surcharge of 1.5% and a countercyclical buffer of 0.01%. The TLAC ratio on a risk-weighted assets basis and the required minimum ratios as of March 31, 2021 do not include the regulatory capital buffers consisting of a capital conservation buffer of 2.5%, a G-SIB surcharge of 1.5% and a countercyclical buffer of 0.00%. |
As of March 31, 2020 |
Minimum capital ratios required |
As of March 31, 2021 |
Minimum capital ratios required |
|||||||||||||
Consolidated: |
||||||||||||||||
MUFG Bank |
||||||||||||||||
Common Equity Tier 1 capital ratio |
10.70 | % | 4.50 | % | 11.17 | % | 4.50 | % | ||||||||
Tier 1 capital ratio |
12.29 | 6.00 | 12.76 | 6.00 | ||||||||||||
Total capital ratio |
14.43 | 8.00 | 15.04 | 8.00 | ||||||||||||
Leverage ratio (1) |
4.21 | 3.00 | 5.22 | 3.00 | ||||||||||||
Mitsubishi UFJ Trust and Banking |
||||||||||||||||
Common Equity Tier 1 capital ratio |
19.46 | 4.50 | 17.99 | 4.50 | ||||||||||||
Tier 1 capital ratio |
21.90 | 6.00 | 20.02 | 6.00 | ||||||||||||
Total capital ratio |
25.46 | 8.00 | 22.47 | 8.00 | ||||||||||||
Leverage ratio (1) |
4.51 | 3.00 | 7.53 | 3.00 | ||||||||||||
Stand-alone: |
||||||||||||||||
MUFG Bank |
||||||||||||||||
Common Equity Tier 1 capital ratio |
10.67 | 4.50 | 10.66 | 4.50 | ||||||||||||
Tier 1 capital ratio |
12.52 | 6.00 | 12.42 | 6.00 | ||||||||||||
Total capital ratio |
14.76 | 8.00 | 14.60 | 8.00 | ||||||||||||
Leverage ratio (1) |
4.02 | 3.00 | 5.14 | 3.00 | ||||||||||||
Mitsubishi UFJ Trust and Banking |
||||||||||||||||
Common Equity Tier 1 capital ratio |
20.11 | 4.50 | 17.92 | 4.50 | ||||||||||||
Tier 1 capital ratio |
22.27 | 6.00 | 19.73 | 6.00 | ||||||||||||
Total capital ratio |
25.42 | 8.00 | 21.91 | 8.00 | ||||||||||||
Leverage ratio (1) |
5.87 | 3.00 | 8.95 | 3.00 |
Three months ended |
||||||||||||||||||||
2020 (1),(6) |
2020 (2),(6) |
2020 (3),(6) |
2020 (4),(6) |
2021 (5),(6) |
||||||||||||||||
MUFG (consolidated) |
154.6 | % | 151.0 | % | 160.8 | % | 166.4 | % | 168.4 | % | ||||||||||
MUFG Bank (consolidated) |
165.9 | 160.0 | 172.2 | 177.6 | 181.2 | |||||||||||||||
MUFG Bank (stand-alone) |
179.2 | 170.8 | 184.5 | 189.7 | 193.3 | |||||||||||||||
Mitsubishi UFJ Trust and Banking (consolidated) |
114.1 | 113.7 | 118.9 | 122.7 | 121.3 | |||||||||||||||
Mitsubishi UFJ Trust and Banking (stand-alone) |
130.0 | 127.6 | 137.2 | 144.1 | 140.9 |
(1) | Each of the ratios is calculated as the average balance of High-Quality Liquid Assets on the business days between January 6, 2020 and March 31 2020 divided by the average amount of net cash outflows for the same fifty-eight business days. |
(2) | Each of the ratios is calculated as the average balance of High-Quality Liquid Assets on the business days between April 1, 2020 and June 30, 2020 divided by the average amount of net cash outflows for the same sixty-one business days. |
(3) | Each of the ratios is calculated as the average balance of High-Quality Liquid Assets on the business days between July 1, 2020 and September 30, 2020 divided by the average amount of net cash outflows for the same sixty-one business days. |
(4) | Each of the ratios is calculated as the average balance of High-Quality Liquid Assets on the business days between October 1, 2020 and December 30, 2020 divided by the average amount of net cash outflows for the same 63 business days. |
(5) | Each of the ratios is calculated as the average balance of High-Quality Liquid Assets on the business days between January 4, 2021 and March 31, 2021 divided by the average amount of net cash outflows for the same 60 business days. |
(6) | The LCR is to be calculated as an average based on daily values in accordance with the Japanese banking regulations. |
As of December 31, 2019 |
As of December 31, 2020 |
Ratio OCC requires to be “well capitalized” as of December 2020 |
||||||||||||||||||
MUFG Americas Holdings: |
||||||||||||||||||||
Common Equity Tier I Capital (to risk-weighted assets) |
14.10 | % | 7.00 | % | 15.28 | % | 8.90 | % | — | |||||||||||
Tier I capital (to risk-weighted assets) |
14.10 | 8.50 | 15.28 | 10.40 | — | |||||||||||||||
Total capital (to risk-weighted assets) |
14.73 | 10.50 | 16.29 | 12.40 | — | |||||||||||||||
Tier I capital (to quarterly average assets) (3) |
8.88 | 4.00 | 9.56 | 4.00 | — | |||||||||||||||
MUFG Union Bank: |
||||||||||||||||||||
Common Equity Tier I Capital (to risk-weighted assets) |
14.47 | % | 7.00 | % | 15.62 | % | 7.00 | % | 6.50 | % | ||||||||||
Tier I capital (to risk-weighted assets) |
14.47 | 8.50 | 15.62 | 8.50 | 8.00 | |||||||||||||||
Total capital (to risk-weighted assets) |
15.11 | 10.50 | 16.68 | 10.50 | 10.00 | |||||||||||||||
Tier I capital (to quarterly average assets) (3) |
10.65 | 4.00 | 11.12 | 4.00 | 5.00 |
(1) | As of December 31, 2019, the minimum capital requirement for MUFG Americas Holdings and MUFG Union Bank includes a capital conservation buffer of 2.50%. |
(2) | As of December 31, 2020, the minimum capital requirement for MUFG Americas Holdings includes its standardized capital conservation buffer of 4.40%, and the requirement for MUFG Union Bank includes a capital conservation buffer of 2.50%. |
(3) | Excludes certain deductions. |
Fiscal years ended March 31, |
||||||||
2021 |
||||||||
(in millions) |
||||||||
Net fair value of contracts outstanding at beginning of fiscal year |
¥ | 990 | ¥ | 653 | ||||
Changes attributable to contracts realized or otherwise settled during the fiscal year |
(706 | ) | 20 | |||||
Fair value of new contracts entered into during the fiscal year |
719 | 359 | ||||||
Changes in fair values attributable to changes in valuation techniques and assumptions |
— | 1 | ||||||
Other changes in fair value, principally revaluation at end of fiscal year |
(350 | ) | (353 | ) | ||||
|
|
|
|
|||||
Net fair value of contracts outstanding at end of fiscal year |
¥ | 653 | ¥ | 680 | ||||
|
|
|
|
As of March 31, 2021 |
||||||||
Net fair value of contracts—unrealized gains |
||||||||
Prices provided by other external sources |
Prices based on models and other valuation methods |
|||||||
(in millions) |
||||||||
Maturity less than 1 year |
¥ | — | ¥ | 15 | ||||
Maturity less than 3 years |
— | 728 | ||||||
Maturity less than 5 years |
— | — | ||||||
Maturity 5 years or more |
— | (63 | ) | |||||
|
|
|
|
|||||
Total fair value |
¥ | — | ¥ | 680 | ||||
|
|
|
|
C. |
Research and Development, Patents and Licenses, etc. |
D. |
Trend Information |
E. |
Off-Balance Sheet Arrangements |
As of March 31, 2021 |
||||||||||||||||
Amount of commitment by expiration period |
||||||||||||||||
1 year or less |
1-5 years |
Over 5 years |
Total |
|||||||||||||
(in billions) |
||||||||||||||||
Guarantees: |
||||||||||||||||
Standby letters of credit and financial guarantees |
¥ | 3,174 | ¥ | 698 | ¥ | 183 | ¥ | 4,055 | ||||||||
Performance guarantees |
2,315 | 755 | 123 | 3,193 | ||||||||||||
Derivative instruments |
15,534 | 15,104 | 7,861 | 38,499 | ||||||||||||
Liabilities of trust accounts |
5,667 | 718 | 4,271 | 10,656 | ||||||||||||
Other |
6 | 34 | — | 40 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total guarantees |
26,696 | 17,309 | 12,438 | 56,443 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Other off-balance sheet instruments: |
||||||||||||||||
Commitments to extend credit |
56,298 | 25,801 | 2,515 | 84,614 | ||||||||||||
Commercial letters of credit |
790 | 44 | 1 | 835 | ||||||||||||
Commitments to make investments |
25 | 110 | 146 | 281 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total other off-balance sheet instruments |
¥ | 57,113 | ¥ | 25,955 | ¥ | 2,662 | ¥ | 85,730 | ||||||||
|
|
|
|
|
|
|
|
F. |
Tabular Disclosure of Contractual Obligations |
As of March 31, 2021 |
||||||||||||||||||||
Payments due by period |
||||||||||||||||||||
Less than 1 year |
1-3 years |
3-5 years |
Over 5 years |
Total |
||||||||||||||||
(in billions) |
||||||||||||||||||||
Contractual obligations: |
||||||||||||||||||||
Time deposit obligations |
¥ | 56,683 | ¥ | 7,464 | ¥ | 1,420 | ¥ | 826 | ¥ | 66,393 | ||||||||||
Estimated interest expense on time deposit obligations (1) |
95 | 12 | 2 | 1 | 110 | |||||||||||||||
Long-term debt obligations |
3,864 | 4,942 | 18,670 | 7,673 | 35,149 | |||||||||||||||
Financing lease obligations |
8 | 10 | 2 | 2 | 22 | |||||||||||||||
Operating lease obligations |
106 | 143 | 92 | 163 | 504 | |||||||||||||||
Purchase obligations |
90 | 117 | 123 | 45 | 375 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total (2)(3) |
¥ | 60,846 | ¥ | 12,688 | ¥ | 20,309 | ¥ | 8,710 | ¥ | 102,553 | ||||||||||
|
|
|
|
|
|
|
|
|
|
(1) | Contractual obligations related to estimated interest expense on time deposit obligations are calculated by applying the March 31, 2021 weighted-average interest rate on outstanding time deposits. |
(2) | The total amount of expected future pension payments is not included in the above table or the total amount of commitments outstanding as of March 31, 2021. We expect to contribute approximately ¥23.3 billion for pension and other benefits for our employees for the fiscal year ending March 31, 2022. For further information, see Note 13 to our consolidated financial statements. |
(3) | The above table does not include unrecognized tax benefits and interest and penalties related to income tax associated with the guidance on accounting for uncertainty in income taxes as we cannot estimate reasonably the timing of cash settlement of the liabilities for unrecognized tax benefits. The total amount of the liabilities for unrecognized tax benefits is ¥13.8 billion as of March 31, 2021. Among the liabilities for unrecognized tax benefits, it is reasonably possible that the unrecognized tax benefits will not increase or decrease during the next twelve months. For further information, see Note 8 to our consolidated financial statements. |
G. |
Safe Harbor |
Item 6. |
Directors, Senior Management and Employees. |
A. |
Directors and Senior Management |
Name (Date of Birth) |
Position in MUFG |
Business Experience | ||||
Mariko Fujii (March 9, 1955) |
Member of the Board of Directors (Outside Director) |
April 1977 |
Joined Ministry of Finance of Japan | |||
July 1997 |
Director, International Affairs and Research Division, Customs and Tariff Bureau, Ministry of Finance | |||||
April 1999 |
Associate Professor, Research Center for Advanced Science and Technology, The University of Tokyo | |||||
March 2001 |
Professor, Research Center for Advanced Economic Engineering, The University of Tokyo | |||||
April 2004 |
Professor, Research Center for Advanced Science and Technology, National University Corporation, The University of Tokyo | |||||
June 2014 |
Outside Director of Electric Power Development Co., Ltd. | |||||
October 2015 |
Resigned from Professor of The University of Tokyo | |||||
Resigned from an Outside Director of Electric Power Development Co., Ltd. | ||||||
Ambassador Extraordinary and Plenipotentiary of Japan to the Republic of Latvia | ||||||
June 2016 |
Emeritus Professor of The University of Tokyo (incumbent) | |||||
January 2019 |
Retired from Ambassador Extraordinary and Plenipotentiary of Japan to the Republic of Latvia | |||||
June 2019 |
Outside Director of NTT DATA CORPORATION (incumbent) | |||||
Member of the Board of Directors (Outside Director) of MUFG (incumbent) | ||||||
Keiko Honda (September 27, 1961) |
Member of the Board of Directors (Outside Director) |
April 1984 |
Joined Bain & Company Japan, Incorporated | |||
May 1986 |
Joined Shearson Lehman Brothers Securities Co., Ltd. | |||||
July 1989 |
Joined McKinsey & Company, Inc. Japan | |||||
July 1999 |
Partner of McKinsey & Company, Inc. Japan | |||||
July 2007 |
Director (Senior Partner) of McKinsey & Company, Inc. Japan | |||||
July 2013 |
Executive Vice President & CEO of Multilateral Investment Guarantee Agency (World Bank Group) |
Name (Date of Birth) |
Position in MUFG |
Business Experience | ||||
October 2019 |
Retired from Multilateral Investment Guarantee Agency (World Bank Group) | |||||
January 2020 |
Joined Columbia University School of International and Public Affairs as Adjunct Professor and Adjunct Senior Research Scholar (incumbent) | |||||
March 2020 |
Outside Director of AGC Inc. (incumbent) | |||||
June 2020 |
Member of the Board of Directors (Outside Director) of MUFG (incumbent) | |||||
Kaoru Kato (May 20, 1951) |
Member of the Board of Directors (Outside Director) |
April 1977 |
Joined Nippon Telegraph and Telephone Public Corporation (NTT) | |||
July 1999 |
General Manager of Plant Department of NTT Kansai Mobile Communications Network, Inc. | |||||
April 2000 |
General Manager of Plant Department of NTT DoCoMo Kansai, Inc. | |||||
June 2002 |
General Manager of Corporate Strategy and Planning Department, Member of the Board of Directors of NTT DoCoMo Kansai, Inc. | |||||
July 2005 |
Representative Director and Senior Corporate Executive Officer of Sumitomo Mitsui Card Co., Ltd. | |||||
July 2007 |
Executive Vice President, General Manager of Corporate Strategy and Planning Department, Member of the Board of Directors of NTT DoCoMo Kansai, Inc. | |||||
June 2008 |
Executive Vice President, General Manager of Corporate Strategy and Planning Department, Member of the Board of Directors of NTT DOCOMO, INC. | |||||
June 2012 |
President and Chief Executive Officer, Member of the Board of Directors of NTT DOCOMO, INC. | |||||
June 2016 |
Corporate Advisor, Member of the Board of Directors of NTT DOCOMO, INC. | |||||
June 2018 |
Corporate Advisor of NTT DOCOMO, INC. (incumbent) | |||||
June 2019 |
Member of the Board of Directors (Outside Director) of MUFG (incumbent) | |||||
March 2021 |
Non-executive Director of Kirin Holdings Company, Limited (incumbent) | |||||
Satoko Kuwabara (November 1, 1964) |
Member of the Board of Directors (Outside Director) |
April 1990 |
Registered as an attorney at law, Member of the Daini Tokyo Bar Association | |||
Joined Mori Sogo (currently Mori Hamada & Matsumoto) | ||||||
January 1998 |
Partner of Mori Hamada & Matsumoto | |||||
June 2016 |
Outside Director of BANDAI NAMCO Holdings Inc. (incumbent) | |||||
March 2020 |
Outside Auditor of Unicafe Inc. (incumbent) |
Name (Date of Birth) |
Position in MUFG |
Business Experience | ||||
April 2020 |
Partner of Gaien Partners (incumbent) | |||||
June 2020 |
Outside Audit and Supervisory Board Member of Nippon Yusen Kabushiki Kaisha (incumbent) | |||||
June 2021 |
Member of the Board of Director (Outside Director) of MUFG (incumbent) | |||||
Toby S. Myerson (July 20, 1949) |
Member of the Board of Directors (Outside Director) |
September 1977 |
Registered as an attorney at law, admitted in States of New York and California in the United States | |||
October 1981 |
Joined Paul, Weiss, Rifkind, Wharton & Garrison LLP | |||||
June 1983 |
Partner of Paul, Weiss, Rifkind, Wharton & Garrison LLP | |||||
April 1989 |
Managing Director of Wasserstein Perella & Co. Inc. | |||||
November 1990 |
Partner of Paul, Weiss, Rifkind, Wharton & Garrison LLP | |||||
June 2014 |
Outside Director of BK(US) (incumbent) | |||||
December 2016 |
Retired from Paul, Weiss, Rifkind, Wharton & Garrison LLP | |||||
January 2017 |
Chairman & CEO of Longsight Strategic Advisors LLC (incumbent) | |||||
February 2017 |
Outside Director of MUAH (incumbent) | |||||
June 2017 |
Member of the Board of Directors (Outside Director) of MUFG (incumbent) | |||||
Hirofumi Nomoto (September 27, 1947) |
Member of the Board of Directors (Outside Director) |
April 1971 |
Joined TOKYU CORPORATION | |||
April 2003 |
Executive General Manager of Media Business Headquarters of TOKYU CORPORATION | |||||
April 2004 |
President & Representative Director of its communications Inc. | |||||
June 2007 |
Director of TOKYU CORPORATION | |||||
Executive Officer of Real Estate Development Business Unit of TOKYU CORPORATION | ||||||
January 2008 |
Managing Director of TOKYU CORPORATION | |||||
June 2008 |
Senior Managing Director of TOKYU CORPORATION | |||||
April 2010 |
Executive Officer & Senior Executive General Manager of Urban Life Produce Business Unit of TOKYU CORPORATION | |||||
June 2010 |
Senior Managing Director & Representative Director of TOKYU CORPORATION | |||||
April 2011 |
President & Representative Director of TOKYU CORPORATION | |||||
April 2018 |
Chairman & Representative Director of TOKYU CORPORATION (incumbent) | |||||
June 2019 |
President & CEO of THREE HUNDRED CLUB CO., LTD. (incumbent) Member of the Board of Directors (Outside Director) of MUFG (incumbent) |
Name (Date of Birth) |
Position in MUFG |
Business Experience | ||||
Yasushi Shingai (January 11, 1956) |
Member of the Board of Directors (Outside Director) |
April 1980 |
Joined Japan Tobacco and Salt Public Corporation (current Japan Tobacco Inc.) | |||
July 2001 |
Vice President of Financial Planning Division of Japan Tobacco Inc. | |||||
June 2004 |
Senior Vice President, Head of Finance Group of Japan Tobacco Inc. | |||||
July 2004 |
Senior Vice President, Chief Financial Officer of Japan Tobacco Inc. | |||||
June 2005 |
Member of the Board, Senior Vice President, and Chief Financial Officer of Japan Tobacco Inc. | |||||
June 2006 |
Member of the Board of Japan Tobacco Inc., | |||||
Executive Vice President and Deputy CEO of JT International S.A. | ||||||
June 2011 |
Representative Director and Executive Vice President of Japan Tobacco Inc. | |||||
June 2014 |
External Board Director of Recruit Holdings Co., Ltd. | |||||
January 2018 |
Member of the Board of Japan Tobacco Inc. | |||||
March 2018 |
Outside Director of Asahi Group Holdings, Ltd. (incumbent) | |||||
June 2018 |
Member of the Board of Directors (Outside Director) of MUFG (incumbent) | |||||
June 2019 |
Outside Director of Dai-ichi Life Holdings, Inc. (incumbent) | |||||
Koichi Tsuji (April 10, 1957) |
Member of the Board of Directors (Outside Director) |
October 1984 |
Joined Peat Marwick Mitchell & Company | |||
September 1988 |
Registered as Certified Public Accountant in Japan | |||||
February 1989 |
Resident Representative, Zurich, Switzerland | |||||
July 2004 |
Senior Partner of Ernst & Young ShinNihon LLC | |||||
February 2016 |
Chairman and CEO of Ernst & Young ShinNihon LLC | |||||
July 2019 |
Chairman & CEO of EY Japan Godo Kaisha | |||||
Member of the Board of Directors, EY Japan Co., Ltd. | ||||||
June 2021 |
Member of the Board of Directors (Outside Director) of MUFG (incumbent) | |||||
Tarisa Watanagase (November 30, 1949) |
Member of the Board of Directors (Outside Director) |
June 1975 |
Joined the Bank of Thailand | |||
January 1988 |
Economist, International Monetary Fund (On the Secondment) | |||||
October 2002 |
Deputy Governor of the Bank of Thailand | |||||
November 2006 |
Governor of the Bank of Thailand | |||||
September 2010 |
Retired from the Bank of Thailand | |||||
March 2013 |
Outside Director of the Siam Cement Public Company Limited (incumbent) | |||||
June 2017 |
Member of the Board of Directors (Outside Director) of MUFG (incumbent) |
Name (Date of Birth) |
Position in MUFG |
Business Experience | ||||
Ritsuo Ogura (January 21, 1964) |
Member of the Board of Directors |
April 1986 |
Joined The Sanwa Bank, Limited | |||
June 2012 |
Executive Officer of BK | |||||
Executive Officer of MUFG | ||||||
May 2016 |
Managing Executive Officer of BK | |||||
May 2017 |
Managing Executive Officer of MUFG | |||||
April 2019 |
Managing Corporate Executive of MUFG | |||||
April 2020 |
Managing Executive Officer of MUFG | |||||
June 2020 |
Member of the Board of Directors of MUFG (incumbent) | |||||
Kenichi Miyanaga (February 25, 1960) |
Member of the Board of Directors |
April 1982 |
Joined The Toyo Trust and Banking Company, Limited | |||
June 2009 |
Executive Officer of TB | |||||
June 2013 |
Director and Managing Executive Officer of TB | |||||
June 2016 |
Senior Managing Executive Officer of TB | |||||
June 2017 |
Director, Deputy President, and Executive Officer of TB | |||||
Managing Executive Officer of MUFG | ||||||
June 2021 |
Member of the Board of Directors of MUFG (incumbent) | |||||
Kanetsugu Mike (November 4, 1956) |
Member of the Board of Directors Chairman (Corporate Executive) |
April 1979 |
Joined The Mitsubishi Bank, Limited | |||
June 2005 |
Executive Officer of Bank of Tokyo-Mitsubishi, Ltd. | |||||
Executive Officer of Mitsubishi Tokyo Financial Group, Inc. | ||||||
May 2009 |
Managing Executive Officer of BK | |||||
May 2011 |
Managing Executive Officer of MUFG | |||||
June 2011 |
Member of the Board of Directors, Managing Executive Officer of BK | |||||
May 2013 |
Senior Managing Executive Officer of BK | |||||
October 2015 |
Executive Chairman of MUAH | |||||
Executive Chairman of BK(US) | ||||||
May 2016 |
Deputy President and Executive Officer of BK | |||||
Senior Managing Corporate Executive of MUFG | ||||||
June 2016 |
Member of the Board of Directors, Deputy President of BK | |||||
June 2017 |
President & CEO of BK | |||||
Member of the Board of Directors, Deputy Chairman of MUFG | ||||||
April 2019 |
Member of the Board of Directors, President & Group CEO of MUFG | |||||
April 2020 |
Member of the Board of Directors, Deputy Chairman of MUFG | |||||
April 2021 |
Member of the Board of Directors, Chairman of MUFG (incumbent) |
Name (Date of Birth) |
Position in MUFG |
Business Experience | ||||
Saburo Araki (August 6, 1957) |
Member of the Board of Directors Deputy Chairman (Representative Corporate Executive) |
April 1981 |
Joined The Mitsubishi Bank, Limited | |||
June 2007 |
Executive Officer of BK | |||||
May 2009 |
Executive Officer of MUFG | |||||
May 2011 |
Managing Executive Officer of BK | |||||
Managing Executive Officer of MUFG | ||||||
June 2012 |
Member of the Board of Directors, Managing Executive Officer of BK | |||||
Member of the Board of Directors of MUFG | ||||||
June 2014 |
Managing Executive Officer of MUFG | |||||
May 2015 |
Member of the Board of Directors, Senior Managing Executive Officer of BK | |||||
June 2015 |
Senior Managing Corporate Executive of MUFG | |||||
May 2016 |
Member of the Board of Directors, Deputy President of BK | |||||
April 2018 |
President & CEO of SCHD (incumbent) | |||||
President & CEO of MUMSS (incumbent) | ||||||
Deputy Chairman of MUFG | ||||||
June 2018 |
Member of the Board of Directors, Deputy Chairman of MUFG (incumbent) | |||||
Iwao Nagashima (March 15, 1963) |
Member of the Board of Directors Deputy Chairman (Representative Corporate Executive) |
April 1985 |
Joined The Mitsubishi Trust and Banking Corporation | |||
June 2011 |
Executive Officer of TB | |||||
June 2013 |
Managing Executive Officer of TB | |||||
Executive Officer of MUFG | ||||||
June 2015 |
Director and Managing Executive Officer of TB | |||||
Managing Executive Officer of TB | ||||||
June 2016 |
Director and Senior Managing Executive Officer of TB | |||||
April 2019 |
Director, Deputy President, and Executive Officer of TB | |||||
Senior Managing Corporate Executive of MUFG | ||||||
President & CEO of MU Trust Apple Planning Company, Ltd. | ||||||
April 2020 |
President & CEO of TB (incumbent) | |||||
Deputy Chairman of MUFG | ||||||
June 2020 |
Member of the Board of Directors, Deputy Chairman of MUFG (incumbent) | |||||
Junichi Hanzawa (January 19, 1965) |
Member of the Board of Directors Deputy Chairman (Representative Corporate Executive) |
April 1988 |
Joined The Mitsubishi Bank, Limited | |||
June 2014 |
Executive Officer of BK | |||||
Executive Officer of MUFG | ||||||
May 2018 |
Managing Executive Officer of BK | |||||
April 2019 |
Managing Corporate Executive of MUFG | |||||
June 2019 |
Member of the Board of Directors, Managing Executive Officer of BK | |||||
April 2021 |
President & CEO of BK (incumbent) | |||||
Deputy Chairman of MUFG |
Name (Date of Birth) |
Position in MUFG |
Business Experience | ||||
June 2021 |
Member of the Board of Directors, Deputy Chairman of MUFG (incumbent) | |||||
Hironori Kamezawa (November 18, 1961) |
Member of the Board of Directors President & Group CEO (Representative Corporate Executive) |
April 1986 |
Joined The Mitsubishi Bank, Limited | |||
June 2010 |
Executive Officer of BK | |||||
Executive Officer of MUFG | ||||||
May 2014 |
Managing Executive Officer of BK | |||||
Managing Executive Officer of MUFG | ||||||
July 2014 |
Deputy CEO of Americas at BK(US) | |||||
May 2017 |
Managing Corporate Executive of MUFG | |||||
June 2017 |
Member of the Board of Directors, Managing Executive Officer of BK | |||||
May 2018 |
Member of the Board of Directors, Senior Managing Executive Officer of BK | |||||
Senior Managing Corporate Executive of MUFG | ||||||
December 2018 |
CEO and Representative of the Board of Directors of Global Open Network, Inc. | |||||
April 2019 |
Deputy President of MUFG | |||||
Member of the Board of Directors, Deputy President of BK | ||||||
CEO and Representative of the Board of Directors of Global Open Network Japan, Inc. | ||||||
June 2019 | Member of the Board of Directors, Deputy President of MUFG | |||||
August 2019 | Chairman of Global Open Network Japan, Inc. | |||||
April 2020 | Member of the Board of Directors of BK (incumbent) | |||||
Member of the Board of Directors, President & Group CEO of MUFG (incumbent) | ||||||
May 2021 | Director of Morgan Stanley (incumbent) |
Note: |
The following abbreviations are used in the table above: | |
“BK”refers to MUFG Bank, Ltd. or its former name The Bank of Tokyo-Mitsubishi UFJ, Ltd. | ||
“TB”refers to Mitsubishi UFJ Trust and Banking Corporation. | ||
“SCHD”refers to Mitsubishi UFJ Securities Holdings Co., Ltd. | ||
“BK(US)”refersto MUFG Union Bank, N.A. | ||
“MUAH”refers to MUFG Americas Holdings Corporation. |
Name (Date of Birth) |
Position in MUFG |
Business Experience | ||||
Kanetsugu Mike (November 4, 1956) |
See “Members of the Board of Directors” under this Item 6.A. |
See “Members of the Board of Directors” under this Item 6.A. | ||||
Saburo Araki (August 6, 1957) |
See “Members of the Board of Directors” under this Item 6.A. |
See “Members of the Board of Directors” under this Item 6.A. | ||||
Iwao Nagashima (March 15, 1963) |
See “Members of the Board of Directors” under this Item 6.A. |
See “Members of the Board of Directors” under this Item 6.A. | ||||
Junichi Hanzawa (January 19, 1965) |
See “Members of the Board of Directors” under this Item 6.A. |
See “Members of the Board of Directors” under this Item 6.A. | ||||
Hironori Kamezawa (November 18, 1961) |
See “Members of the Board of Directors” under this Item 6.A. |
See “Members of the Board of Directors” under this Item 6.A. | ||||
Masato Miyachi (June 14, 1960) |
Senior Managing Corporate Executive (Group Head, Global Corporate & Investment Banking Business Group) |
April 1984 | Joined The Bank of Tokyo, Ltd. | |||
June 2010 | Executive Officer of BK | |||||
May 2014 | Managing Executive Officer of BK | |||||
October 2014 | Managing Executive Officer of MUFG | |||||
May 2017 | Chairman of MUAH | |||||
Chairman of BK(US) | ||||||
May 2018 | Senior Managing Executive Officer of BK | |||||
June 2018 | Member of the Board of Directors, Senior Managing Executive Officer of BK | |||||
July 2018 | Senior Managing Corporate Executive of MUFG (incumbent) | |||||
April 2019 | Member of the Board of Directors, Deputy President of BK (incumbent) | |||||
Takayoshi Futae (January 16, 1961) |
Senior Managing Corporate Executive (Group Head, Global Commercial Banking Business Group Group Chief Operational Officer-International, or Group COO-I in charge of Overseas Business Transformation) |
April 1983 | Joined The Sanwa Bank, Limited | |||
June 2010 | Executive Officer of BK | |||||
May 2014 | Managing Executive Officer of BK | |||||
May 2016 | Managing Executive Officer of MUFG | |||||
May 2017 | Senior Managing Executive Officer of BK | |||||
April 2019 | Senior Managing Corporate Executive of MUFG | |||||
Senior Managing Executive Officer of SCHD (incumbent) | ||||||
June 2019 | Member of the Board of Directors, Senior Managing Executive Officer of BK | |||||
April 2021 | Member of the Board of Directors, Deputy President of BK (incumbent) |
Name (Date of Birth) |
Position in MUFG |
Business Experience | ||||
Masahiro Kuwahara (November 11, 1962) |
Senior Managing Corporate Executive (Group Chief Risk Officer, or CRO) |
April 1986 | Joined The Mitsubishi Bank, Limited | |||
June 2012 | Executive Officer of BK | |||||
Executive Officer of MUFG | ||||||
May 2016 | Managing Executive Officer of BK | |||||
Managing Executive Officer of MUFG | ||||||
May 2019 | Managing Corporate Executive of MUFG | |||||
June 2019 | Member of the Board of Directors, Managing Executive Officer of BK | |||||
April 2020 | Member of the Board of Directors, Senior Managing Executive Officer of BK (incumbent) | |||||
Senior Managing Corporate Executive of MUFG (incumbent) | ||||||
April 2021 | Member of the Board of Directors of SCHD (incumbent) | |||||
Yoshitaka Shiba (July 25, 1961) |
Senior Managing Corporate Executive (Group Chief Audit Officer, or CAO) Managing Director, Head of Internal Audit Division |
April 1986 | Joined The Tokai Bank, Ltd. | |||
June 2012 | Executive Officer of BK | |||||
July 2015 | Executive Officer of MUFG | |||||
May 2016 | Managing Executive Officer of BK | |||||
April 2020 | Senior Managing Corporate Executive of MUFG (incumbent) | |||||
Tetsuya Yonehana (February 10, 1964) |
Senior Managing Corporate Executive (Group Chief Financial Officer, or CFO) |
April 1986 | Joined The Mitsubishi Trust and Banking Corporation | |||
June 2012 | Executive Officer of TB | |||||
Executive Officer of MUFG | ||||||
June 2015 | Managing Executive Officer of TB | |||||
June 2016 | Director and Managing Executive Officer of TB | |||||
Managing Executive Officer of MUFG | ||||||
April 2019 | Director and Senior Managing Executive Officer of TB | |||||
April 2020 | Senior Managing Executive Officer of BK | |||||
Senior Managing Corporate Executive of MUFG (incumbent) | ||||||
June 2020 | Member of the Board of Directors, Senior Managing Executive Officer of BK (incumbent) | |||||
Naomi Hayashi (March 16, 1965) |
Senior Managing Corporate Executive (Group Head, Japanese Corporate & Investment Banking Business Group in charge of Research & Advisory Planning Division ) |
April 1987 | Joined The Mitsubishi Bank, Limited | |||
June 2013 | Executive Officer of BK | |||||
Executive Officer of MUFG | ||||||
January 2017 | Managing Executive Officer of BK | |||||
May 2018 | Managing Corporate Executive of MUFG | |||||
June 2018 | Member of the Board of Directors, Managing Executive Officer of BK | |||||
Member of the Board of Directors of SCHD | ||||||
April 2021 | Member of the Board of Directors, Senior Managing Executive Officer of BK (incumbent) | |||||
Senior Managing Corporate Executive of MUFG (incumbent) |
Name (Date of Birth) |
Position in MUFG |
Business Experience | ||||
Atsushi Miyata (March 29,1964) |
Senior Managing Corporate Executive (Group Head, Retail & Commercial Banking Business Group, Head of Wealth Management Unit) |
April 1987 | Joined The Sanwa Bank, Limited | |||
June 2013 | Executive Officer of BK | |||||
May 2015 | Executive Officer of MUFG | |||||
May 2017 | Managing Executive Officer of BK | |||||
July 2018 | Managing Executive Officer of MUFG | |||||
April 2021 | Senior Managing Executive Officer of BK | |||||
Senior Managing Corporate Executive of MUFG (incumbent) | ||||||
June 2021 | Member of the Board of Directors, Senior Managing Executive Officer of BK (incumbent) | |||||
Takayuki Yasuda (June 19, 1963) |
Senior Managing Corporate Executive (Group Head, Asset Management & Investor Services Business Group) |
April 1987 | Joined The Mitsubishi Trust and Banking Corporation | |||
June 2013 |
Executive Officer of TB | |||||
February 2015 |
Executive Officer of MUFG | |||||
June 2017 |
Managing Executive Officer of TB | |||||
April 2021 |
Director and Senior Managing Executive Officer of TB (incumbent) | |||||
Senior Managing Corporate Executive of MUFG (incumbent) | ||||||
Yoshifuji Shigeru (June 29, 1962) |
Senior Managing Corporate Executive (Group Head, Global Markets Business Group) |
April 1987 | Joined The Mitsubishi Bank, Limited | |||
June 2012 | Executive Officer of BK | |||||
Executive Officer of MUFG | ||||||
May 2016 | Managing Corporate Executive of MUFG | |||||
April 2019 | Managing Executive Officer of BK | |||||
Managing Executive Officer of MUFG | ||||||
June 2019 | Member of the Board of Directors, Managing Executive Officer of BK | |||||
April 2020 | Member of the Board of Directors, Senior Managing Executive Officer of BK (incumbent) | |||||
April 2021 | Senior Managing Corporate Executive of MUFG (incumbent) | |||||
Hiroki Kameda (May 17, 1965) |
Managing Corporate Executive (Group Chief Information Officer, or CIO) |
April 1988 | Joined The Mitsubishi Bank, Limited | |||
June 2014 | Executive Officer of BK | |||||
Executive Officer of MUFG | ||||||
June 2018 | President & CEO of Mitsubishi UFJ Information Technology, Ltd. (incumbent) | |||||
April 2019 | Managing Executive Officer of BK | |||||
Managing Corporate Executive of MUFG (incumbent) | ||||||
June 2019 | Member of the Board of Directors, Managing Executive Officer of BK (incumbent) | |||||
June 2021 | President & CEO of MU Business Engineering, Ltd. (incumbent) |
Name (Date of Birth) |
Position in MUFG |
Business Experience | ||||
Hiroshi Mori (February 21,1965) |
Managing Corporate Executive (Group Chief Legal Officer, or CLO) |
April 1989 | Joined Development Bank of Japan (currently Development Bank of Japan, Inc.) | |||
April 1993 | Seconded to Finance Bureau of Ministry of Home Affairs | |||||
June 2003 | Seconded to Tesac Corporation, a Company under reorganization Trustee representative, Manager of Corporate Planning Department | |||||
October 2006 | Registered as attorney at law | |||||
Joined Nishimura & Asahi | ||||||
November 2010 | Outside Director, USEN Corporation | |||||
January 2012 | Partner at Nishimura & Asahi | |||||
June 2013 | Substitute Auditor of KAGOME CO., LTD. | |||||
March 2016 | Outside Director, Audit & Supervisory Committee Member of KAGOME CO., LTD. | |||||
June 2016 | Outside Director, Audit & Supervisory Committee Member of SCHD | |||||
June 2019 | Member of the Board of Directors, Managing Executive Officer of BK(incumbent) | |||||
Managing Corporate Executive of MUFG (incumbent) | ||||||
Tomohiro Kimura (June 7, 1967) |
Managing Corporate Executive (Group Chief Human Resource Officer, or Group CHRO Group Deputy Chief Digital Transformation Officer, or Group Deputy CDTO Group Deputy Chief Information Officer or Group Deputy CIO) |
April 1990 | Joined The Mitsubishi Trust and Banking Corporation | |||
June 2017 | Executive Officer of TB | |||||
Executive Officer of MUFG | ||||||
April 2020 | Director and Managing Executive Officer of TB (incumbent) | |||||
Managing Corporate Executive of MUFG (incumbent) | ||||||
President & CEO of MU Trust Apple Planning Company, Ltd. (incumbent) | ||||||
President & CEO of M.U.Trust Sougou Kanri Co., Ltd. | ||||||
April 2021 | President & CEO of Mitsubishi UFJ Trust Systems Co., Ltd.(incumbent) | |||||
Masakazu Osawa (June 20, 1968) |
Managing Corporate Executive (Group Head, Digital Service Business Group Group Chief Digital Transformation Officer, or Group CDTO) |
April 1991 | Joined The Mitsubishi Bank, Limited | |||
June 2017 | Executive Officer of BK | |||||
Executive Officer of MUFG | ||||||
April 2020 | Managing Executive Officer of BK | |||||
Managing Corporate Executive of MUFG (incumbent) | ||||||
CEO and Representative of the Board of Directors of Global Open Network, Inc. (incumbent) | ||||||
Chairman and Representative of the Board of Directors of Global Open Network Japan, Inc. (incumbent) |
Name (Date of Birth) |
Position in MUFG |
Business Experience | ||||
June 2020 | Member of the Board of Directors, Managing Executive Officer of BK (incumbent) | |||||
Yutaka Miyashita (October 11, 1967) |
Managing Corporate Executive (Group Chief Strategy Officer or Group CSO (Corporate Planning Division excluding Finances & Resources Management and Global Business) in charge of Corporate Administration Division) |
April 1990 | Joined The Sanwa Bank, Limited | |||
June 2016 | Executive Officer of BK | |||||
Executive Officer of MUFG | ||||||
April 2020 | Managing Executive Officer of BK | |||||
Managing Executive Officer of MUFG | ||||||
June 2020 | Member of the Board of Directors, Managing Executive Officer of BK (incumbent) | |||||
April 2021 | Managing Corporate Executive of MUFG (incumbent) | |||||
Keitaro Tsukiyama (December 7,1967) |
Managing Corporate Executive (Group Chief Compliance Officer, or Group CCO) |
April 1991 | Joined The Mitsubishi Bank, Limited | |||
June 2018 | Executive Officer of BK | |||||
Executive Officer of MUFG | ||||||
April 2021 | Managing Executive Officer of BK | |||||
Managing Corporate Executive of MUFG (incumbent) | ||||||
June 2021 | Member of the Board of Directors, Managing Executive Officer of BK (incumbent) |
Note: |
The following abbreviations are used in the table above: | |
“BK”refers to MUFG Bank, Ltd. or its former name The Bank of Tokyo-Mitsubishi UFJ, Ltd. | ||
“TB”refers to Mitsubishi UFJ Trust and Banking Corporation. | ||
“SCHD”refers to Mitsubishi UFJ Securities Holdings Co., Ltd. | ||
“BK(US)”refers to MUFG Union Bank, N.A. | ||
“MUAH”refers to MUFG Americas Holdings Corporation. |
B. |
Compensation |
Non-Adjustable Compensation |
Adjustable Compensation |
|||||||||||||||||||||||||||
Number of Directors and Corporate Executives (1) |
Aggregate Compensation |
Annual Base Salary |
Performance- based Stock Compensation |
Cash Bonuses |
Performance- based Stock Compensation |
Retirement Allowances (2) |
Other |
|||||||||||||||||||||
(in millions) |
||||||||||||||||||||||||||||
24 |
¥ | 2,617 | ¥ | 1,352 | ¥ | 426 | ¥ | 540 | ¥ | 172 | ¥ | 127 | ¥ | 0 |
(1) | Includes the current directors and corporate executives as well as those who retired during the fiscal year ended March 31, 2021 but excludes the outside directors. |
(2) | Represents the aggregate amount of retirement allowances paid in cash during the fiscal year ended March 31, 2021, pursuant to a one-time shareholders’ approval in June 2007 for the retirement allowances to be paid to the directors and corporate auditors who were elected prior to that date at the time of their retirement. A reserve in the total amount of such retirement allowances was set aside as of September 30, 2007. For more information, see “—Retirement Allowances” below. |
Non-Adjustable Compensation |
Adjustable Compensation |
|||||||||||||||||||||||||
Directors |
Aggregate Compensation |
Paid by |
Annual Base Salary |
Performance- based Stock Compensation |
Cash Bonuses |
Performance- based Stock Compensation |
Retirement Allowances (2) |
|||||||||||||||||||
(in millions) |
||||||||||||||||||||||||||
Nobuyuki Hirano |
¥ | 237 | MUFG | ¥ | 48 | ¥ | 11 | ¥ | 27 | ¥ | 22 | — | ||||||||||||||
BK | — | — | — | 2 | 127 | |||||||||||||||||||||
Kanetsugu Mike |
¥ | 169 | MUFG | ¥ | 41 | ¥ | 11 | ¥ | 17 | ¥ | 8 | — | ||||||||||||||
BK | 41 | 18 | 23 | 10 | — | |||||||||||||||||||||
Saburo Araki |
¥ | 146 | MUFG | ¥ | 25 | ¥ | 5 | ¥ | 16 | ¥ | 8 | — | ||||||||||||||
SCHD | 13 | 2 | 27 | 4 | — | |||||||||||||||||||||
MUMSS | 13 | 2 | 27 | 4 | — | |||||||||||||||||||||
Iwao Nagashima |
¥ | 183 | MUFG | ¥ | 35 | ¥ | 7 | ¥ | 31 | ¥ | 10 | — | ||||||||||||||
TB | 35 | 22 | 33 | 10 | — | |||||||||||||||||||||
Hironori Kamezawa |
¥ | 224 | MUFG | ¥ | 65 | ¥ | 43 | ¥ | 69 | ¥ | 24 | — | ||||||||||||||
BK | 18 | 5 | — | — | — | |||||||||||||||||||||
Kenji Yabuta |
¥ | 125 | MUFG | ¥ | 45 | ¥ | 9 | ¥ | 17 | ¥ | 3 | — | ||||||||||||||
BK | 26 | 14 | 9 | 2 | — | |||||||||||||||||||||
Naoki Hori |
¥ | 123 | MUFG | ¥ | 41 | ¥ | 9 | ¥ | 17 | ¥ | 3 | — | ||||||||||||||
BK | 23 | 12 | 10 | 2 | — | |||||||||||||||||||||
ACOM | 6 | — | — | — | — | |||||||||||||||||||||
Masato Miyachi |
¥ | 127 | MUFG | ¥ | 47 | ¥ | 8 | ¥ | 17 | ¥ | 5 | — | ||||||||||||||
BK | 27 | 10 | 10 | 3 | — | |||||||||||||||||||||
Sunao Yokokawa |
¥ | 114 | MUFG | ¥ | 38 | ¥ | 7 | ¥ | 14 | ¥ | 3 | — | ||||||||||||||
TB | 21 | 19 | 10 | 2 | — | |||||||||||||||||||||
Masahiro Kuwahara |
¥ | 111 | MUFG | ¥ | 33 | ¥ | 7 | ¥ | 9 | ¥ | 2 | — | ||||||||||||||
BK | 19 | 24 | 6 | 1 | — | |||||||||||||||||||||
TB | 10 | — | — | — | — | |||||||||||||||||||||
Yoshitaka Shiba |
¥ | 113 | MUFG | ¥ | 61 | ¥ | 28 | ¥ | 16 | ¥ | 6 | — | ||||||||||||||
BK | — | — | — | 2 | — |
Notes: |
(1) The following abbreviations are used in the table above: | |
“BK”refers to MUFG Bank, Ltd. (or its former name The Bank of Tokyo-Mitsubishi UFJ, Ltd.) | ||
“TB”refers to Mitsubishi UFJ Trust and Banking Corporation. . | ||
“SCHD”refers to Mitsubishi UFJ Securities Holdings Co., Ltd. | ||
“MUMSS”refers to Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. | ||
“ACOM”refers to ACOM Co., Ltd. |
(2) | Represents the amount of retirement allowances paid in cash during the fiscal year ended March 31, 2021, pursuant to a one-time shareholders’ approval in June 2007 for the retirement allowances to be paid to the directors and corporate auditors who were elected prior to that date at the time of their retirement. A reserve in the total amount of such retirement allowances was set aside as of September 30, 2007. For more information, see “—Retirement Allowances” below. |
Directors |
Number of Shares Registered |
|||
Mariko Fujii |
— | |||
Keiko Honda |
— | |||
Kaoru Kato |
— | |||
Satoko Kuwabara |
— | |||
Toby S. Myerson |
368 | * | ||
Hirofumi Nomoto |
25,000 | |||
Yasushi Shingai |
— | |||
Koichi Tsuji |
— | |||
Tarisa Watanagase |
— | |||
Ritsuo Ogura |
95,534 | |||
Kenichi Miyanaga |
55,478 |
Corporate Executives |
Number of Shares Registered |
|||
Kanetsugu Mike |
118,862 | |||
Saburo Araki |
278,180 | |||
Iwao Nagashima |
129,081 | |||
Junichi Hanzawa |
58,900 | |||
Hironori Kamezawa |
69,639 | |||
Masato Miyachi |
17,959 | |||
Takayoshi Futae |
19,684 | |||
Masahiro Kuwahara |
28,000 | |||
Yoshitaka Shiba |
129,403 | |||
Tetsuya Yonehana |
89,922 | |||
Naomi Hayashi |
14,210 | |||
Atsushi Miyata |
45,297 | |||
Takayuki Yasuda |
30,500 | |||
Shigeru Yoshifuji |
128,500 | |||
Hiroki Kameda |
56,583 | |||
Hiroshi Mori |
8,285 | |||
Tomohiro Kimura |
19,500 | |||
Masakazu Osawa |
15,200 | |||
Yutaka Miyashita |
26,400 | |||
Keitaro Tsukiyama |
26,769 |
* | Held in the form of ADRs. |
C. |
Board Practices |
• | the person is not currently, and has not been in the ten years prior to his or her assumption of office as outside director, an executive director, who is a director concurrently performing an executive role ( gyomu shikko torishimariyaku shihainin |
• | if the person has been a non-executive director, a corporate auditor, or an accounting adviser (kaikei sanyo |
• | the person is not a director, a corporate executive officer, a manager or any other type of employee of the company’s parent company, or a person who controls the company; |
• | the person is not an executive director, a corporate executive officer, a manager or any other type of employee of another subsidiary of the company’s parent company; and |
• | the person is not the spouse or a family member within the second degree of kinship of a director, a corporate executive, a manager, or any other type of important employee of the company or a person who controls the company. |
D. |
Employees |
Business unit |
||||
MUFG Bank: |
||||
Retail & Commercial Banking Business Unit |
16 | % | ||
Japanese Corporate & Investment Banking Business Unit |
3 | |||
Global Corporate & Investment Banking Business Unit |
2 | |||
Global Commercial Banking Business Unit |
41 | |||
Global Markets Business Unit |
1 | |||
Corporate Center/Corporate Staff |
17 | |||
Mitsubishi UFJ Trust and Banking: |
||||
Trust-Banking |
3 | |||
Trust Assets |
4 | |||
Real Estate |
1 | |||
Global Markets |
0 | |||
Administration and subsidiaries |
2 | |||
Mitsubishi UFJ Securities Holdings: |
||||
Retail & Commercial Banking Business Unit |
3 | |||
Japanese Corporate & Investment Banking Business Unit |
0 | |||
Global Corporate & Investment Banking Business Unit |
0 | |||
Global Markets Business Unit |
1 | |||
Corporate Center/Corporate Staff |
1 | |||
Mitsubishi UFJ NICOS: |
||||
Business Marketing Division |
1 | |||
Credit Risk Management & Risk Assets Administration Division |
1 | |||
Operations Division |
1 | |||
Systems & Systems Integration Division |
0 | |||
Corporate Division |
0 | |||
Others |
0 | |||
Others |
2 | |||
|
|
|||
100 | % | |||
|
|
Location |
||||
MUFG Bank: |
||||
Japan |
25 | % | ||
United States |
10 | |||
Europe |
2 | |||
Asia/Oceania excluding Japan |
43 | |||
Other areas |
0 | |||
Mitsubishi UFJ Trust and Banking: |
||||
Japan |
8 | |||
United States |
1 | |||
Europe |
1 | |||
Asia/Oceania excluding Japan |
0 | |||
Mitsubishi UFJ Securities Holdings: |
||||
Japan |
5 | |||
United States |
0 | |||
Europe |
0 | |||
Asia/Oceania excluding Japan |
0 | |||
Mitsubishi UFJ NICOS: |
||||
Japan |
3 | |||
United States |
0 | |||
Europe |
0 | |||
Asia/Oceania excluding Japan |
0 | |||
Others |
2 | |||
|
|
|||
100 | % | |||
|
|
E. |
Share Ownership |
Item 7. |
Major Shareholders and Related Party Transactions. |
A. |
Major Shareholders |
Name |
Number of shares held |
Percentage of total shares in issue (3) |
||||||
The Master Trust Bank of Japan, Ltd. (Trust account) (1) |
1,065,551,700 | 7.84 | % | |||||
Custody Bank of Japan, Ltd. (Trust account) (1) |
706,354,200 | 5.20 | % | |||||
SSBTC CLIENT OMNIBUS ACCOUNT |
324,487,406 | 2.38 | % | |||||
Custody Bank of Japan, Ltd. (Trust account 5) (1) |
206,901,600 | 1.52 | % | |||||
The Bank of New York Mellon as Depositary Bank for DR Holders (2) |
191,299,292 | 1.40 | % | |||||
State Street Bank West Client-Treaty 505234 |
187,167,291 | 1.37 | % | |||||
Custody Bank of Japan, Ltd. (Trust account 6) (1) |
183,391,100 | 1.35 | % | |||||
The Master Trust Bank of Japan, Ltd. (Meiji Yasuda Life Insurance Company retirement benefit trust account) |
175,000,000 | 1.28 | % | |||||
Custody Bank of Japan, Ltd. (Trust account7) (1) |
169,184,900 | 1.24 | % | |||||
Custody Bank of Japan, Ltd. (Trust account 1) (1) |
164,611,100 | 1.21 | % | |||||
|
|
|
|
|||||
Total |
3,373,948,589 | 24.84 | % | |||||
|
|
|
|
(1) | Includes the shares held in trust accounts, which do not disclose the names of beneficiaries. |
(2) | An owner of record for our ADSs. |
(3) | Numbers are truncated after two decimal points. |
(4) | According to a beneficial ownership report on Schedule 13G filed with the SEC by BlackRock Inc. on January 29, 2021, BlackRock and its consolidated subsidiaries beneficially owned an aggregate of 5.3% of the outstanding shares of our common stock as of December 31, 2020. Other than as described in the table above, we have not independently confirmed this beneficial ownership information. According to a beneficial ownership report on Schedule 13G filed with the SEC by Sumitomo Mitsui Trust Holdings, Inc. on February 5, 2021, Sumitomo Mitsui Trust Holdings and its consolidated subsidiaries beneficially owned an aggregate of 5.6% of the outstanding shares of our common stock as of December 31, 2020. Other than as described in the table above, we have not independently confirmed this beneficial ownership information. |
B. |
Related Party Transactions |
C. |
Interests of Experts and Counsel |
Item 8. |
Financial Information. |
A. |
Consolidated Statements and Other Financial Information |
B. |
Significant Changes |
Item 9. |
The Offer and Listing. |
A. |
Offer and Listing Details |
B. |
Plan of Distribution |
C. |
Markets |
D. |
Selling Shareholders |
E. |
Dilution |
F. |
Expenses of the Issue |
Item 10. |
Additional Information. |
A. |
Share Capital |
B. |
Memorandum and Articles of Association |
• | administration of management of banks, trust banks, specialized securities companies, insurance companies or other companies which we may own as our subsidiaries under the Banking Law; |
• | any businesses incidental to the foregoing businesses mentioned in the preceding item; and |
• | any other businesses in which bank holding companies are permitted to engage under the Banking Law in addition to the foregoing businesses mentioned in the preceding two items. |
C. |
D. |
Exchange Controls |
• | natural persons who are non-resident of Japan; |
• | corporations which are organized under the laws of foreign countries or whose principal offices are located outside Japan; |
• | corporations of which 50% or more of the shares are directly or indirectly held by individuals not resident of Japan and corporations which are organized under the laws of foreign countries or whose principal offices are located outside Japan; |
• | (A) partnerships 50% or more of whose contributions are made by (1) natural persons who are non-residents of Japan, (2) corporations which are organized under the laws of foreign countries or whose principal offices are located outside Japan, (3) corporations of which 50% or more of the shares are directly or indirectly held by individuals not resident of Japan and corporations which are organized under the laws of foreign countries or whose principal offices are located outside Japan, (4) corporations, a majority of the officers (or a majority of the officers having the power to represent the corporation) of which are non-resident individuals, or (5) other partnerships a majority of whose operating partners fall under any of (1) through (4), or (B) partnerships a majority of whose operating partners are (i) any of (1) through (5) above, (ii) other partnerships 50% or more of whose contributions
are made by non-residents of Japan or partnerships that are any of (1) through (5) above, or (iii) certain limited liability partnerships under the Limited Liability Partnership Act; and |
• | corporations, a majority of officers (or a majority of officers having the power of representation) of which are non-resident individuals. |
E. |
Taxation |
• | a citizen or resident of the United States as determined for U.S. federal income tax purposes; |
• | a corporation or other entity taxable as a corporation created or organized under the laws of the United States, any state thereof or the District of Columbia; |
• | an estate, the income of which is subject to U.S. federal income tax regardless of its source; or |
• | a trust |
• | the administration of which is subject to (1) the supervision of a court within the United States and (2) the control of one or more U.S. persons as described in Section 7701(a)(30) of the Code; or |
• | that has a valid election in effect under applicable U.S. Treasury regulations to be treated as a U.S. person. |
• | is a corporation or other exempt recipient, and, when required, demonstrates this fact; or |
• | provides a correct taxpayer identification number on a properly completed U.S. IRS Form W-9 or other appropriate form which certifies that the U.S. holder is not subject to backup withholding and otherwise complies with applicable requirements of the backup withholding rules. |
F. |
Dividends and Paying Agents |
G. |
Statement by Experts |
H. |
Documents on Display |
I. |
Subsidiary Information |
Item 11. |
Quantitative and Qualitative Disclosures about Credit, Market and Other Risk. |
Type of Risk |
Definition | |
Credit Risk |
The risk of financial loss in credit assets (including off-balance sheet instruments) caused by deterioration in the credit conditions of counterparties. This category includes country risk. | |
Market Risk |
The risk of financial loss where the value of our assets and liabilities could be adversely affected by changes in market variables such as interest rates, securities prices and foreign exchange rates. Market liquidity risk is the risk of financial loss caused by the inability to secure market transactions at the required volume or price levels as a result of market turbulence or lack of trading liquidity. | |
Funding Liquidity Risk |
The risk of incurring loss if a poor financial position at a group company hampers the ability to meet funding requirements or necessitates fund procurement at interest rates markedly higher than normal. | |
Operational Risk |
The risk of loss resulting from inadequate or failed internal processes, people or systems, or from external events. | |
• Operations Risk |
The risk of incurring losses arising from negligence of correct operational processing, incidents or misconduct involving officers or staff, as well as risks similar to this risk. | |
• Information Risk |
The risk of loss caused by loss, alteration, falsification or leakage of personal or other confidential information, as well as risks similar to these risks. | |
• IT Risk |
The risk of loss arising from destruction, suspension, malfunction or misuse of IT, or unauthorized alteration and leakage of electronic data caused by insufficient IT systems planning, development or operations or by vulnerabilities of or external threats to IT system security, including cybersecurity, as well as risks similar to these risks. | |
• Tangible Asset Risk |
The risk of loss due to damage to tangible assets or deterioration in the operational environment caused by disasters or inadequate asset maintenance, as well as risks similar to this risk. Tangible assets include movable and immovable property, including owned or leased land and buildings, facilities incidental to buildings, and fixtures and fittings. | |
• Personnel Risk |
The risk of loss due to an outflow or loss of human resources or deterioration in employee morale, as well as risks similar to this risk. | |
• Incompliance with Laws and Regulations Risk |
The risk of loss due to failure to comply with laws and regulations, as well as risks similar to these risks. | |
• Legal Risk |
The risk of a loss due to failure to identify or address legal issues relating to contracts and other business operations or insufficient handling of lawsuits, as well as risks similar to these risks. | |
Reputation Risk |
The risk of harm to our corporate value arising from perceptions of our customers, shareholders, investors or other stakeholders and in the market or society that we deviate from their expectations or confidence. | |
Model Risk |
The risk of loss due to decision-making based on information provided by an inaccurate model or the misuse of a model. |
MUFG Borrower Rating |
MUFG Borrower Rating Definition | |||||
1 | The capacity to meet financial commitments is extremely certain, and the borrower has the highest level of creditworthiness. | |||||
2 | The capacity to meet financial commitments is highly certain, but there are some elements that may result in lower creditworthiness in the future. | |||||
3 | The capacity to meet financial commitments is sufficiently certain, but there is the possibility that creditworthiness may fall in the long run. | |||||
4 | There are no problems concerning the capacity to meet financial commitments, but there is the possibility that creditworthiness may fall in the long run. | |||||
5 | There are no problems concerning the capacity to meet financial commitments, and creditworthiness is in the middle range. | |||||
6 | There are no problems concerning the capacity to meet financial commitments presently, but there are elements that require attention if the situation changes. | |||||
7 | There are no problems concerning the capacity to meet financial commitments presently, but long-term stability is poor. | |||||
8 | There are no problems concerning the capacity to meet financial commitments presently, but long-term stability is poor, and creditworthiness is relatively low. | |||||
9 | The capacity to meet financial commitments is somewhat poor, and creditworthiness is the lowest among “Normal” customers. | |||||
Borrowers who must be closely monitored because of the following business performance and financial conditions: | ||||||
10 through 12 | (1) Borrowers who have problematic business performance, such as virtually delinquent principal repayment or interest payment; | |||||
(2) Borrowers whose business performance is unsteady, or who have unfavorable financial conditions; | ||||||
(3) Borrowers who have problems with loan conditions and for whom interest rates have been reduced or shelved. | ||||||
10 | Although business problems are not serious or their improvement is seen to be remarkable, there are elements of potential concern with respect to the borrower’s management, and close monitoring is required. | |||||
11 | Business problems are serious, or require long-term solutions. Serious elements concerning business administration of the borrower have emerged, and subsequent debt repayment needs to be monitored closely. | |||||
12 | Borrowers who fall under the criteria of Rating 10 or 11 and have a loan concession granted. Borrowers who have “Loans contractually past due 90 days or more.” (As a rule, delinquent borrowers are categorized as “Likely to Become Bankrupt,” but the definition here applies to borrowers delinquent for 90 days or more because of inheritance and other special reasons.) | |||||
13 | Borrowers who pose a serious risk with respect to debt repayment and with whom loss is likely to occur in the course of transactions. While still not bankrupt, these borrowers are in financial difficulty, with poor progress in achieving restructuring plans, and are likely to become bankrupt in the future. | |||||
14 | While not legally bankrupt, borrowers who are considered to be virtually bankrupt because they are in serious financial difficulty and have no prospects for an improvement in their business operations. | |||||
15 | Borrowers who are legally bankrupt (i.e., who have no prospects for continued business operations because of non-payment, suspension of business, voluntary liquidation, or filing for legal liquidation). |
• | Normal borrowers (generally corresponding to borrowers in categories 1 through 9 in our ratings), which are borrowers that are performing well, with no significant financial concerns, |
• | Borrowers requiring close watch (generally corresponding to borrowers in categories 10 through 12 in our ratings), which include loans that have been amended to allow for delays or forgiveness of interest |
payments, borrowers experiencing difficulty in complying with loan terms and conditions and borrowers that are recording losses or performing badly, |
• | Borrowers likely to become bankrupt (generally corresponding to borrowers in category 13 in our ratings), which relate to borrowers who pose a serious risk with respect to debt repayment and with whom loss is likely to occur in the course of transactions. While still not bankrupt, these borrowers are in financial difficulty, with poor progress in achieving restructuring plans, and are likely to become bankrupt in the future, |
• | Virtually bankrupt borrowers (generally corresponding to borrowers in category 14 in our ratings), which are not legally bankrupt, but borrowers who are considered to be virtually bankrupt because they are in serious financial difficulty and have no prospects for an improvement in their business operations, and |
• | Bankrupt borrowers or de facto bankrupt borrowers (generally corresponding to borrowers in category 15 in our ratings), which are borrowers who are legally bankrupt (i.e., who have no prospects for continued business operations because of non-payment, suspension of business, voluntary liquidation, or filing for legal liquidation proceedings). |
• | To measure growth: Sales growth, and growth in total assets, |
• | To measure profitability: Current profit to sales, and profit before tax to sales, and |
• | To measure stability: Equity ratio and current ratio. |
Average |
Maximum (1) |
Minimum (1) |
||||||||||||||
(in billions) |
||||||||||||||||
MUFG |
¥ | 1.64 | ¥ | 2.71 | ¥ | 0.92 | ¥ | 1.39 | ||||||||
Interest rate |
1.34 | 2.67 | 0.80 | 1.33 | ||||||||||||
Yen |
0.94 | 1.96 | 0.54 | 0.89 | ||||||||||||
U.S. Dollars |
0.77 | 2.05 | 0.47 | 2.05 | ||||||||||||
Foreign exchange |
0.71 | 1.02 | 0.32 | 0.60 | ||||||||||||
Equities |
0.63 | 2.14 | 0.12 | 0.44 | ||||||||||||
Commodities |
0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||
Less diversification effect |
(1.04 | ) | — | — | (0.98 | ) |
Assumptions for VaR calculations: |
Historical simulation method |
Holding period: 1 business day |
Confidence interval: 95% |
Observation period: 250 business days |
(1) | The maximum and minimum VaR overall and for various risk categories were taken from different days. A simple summation of VaR by risk category is not equal to total VaR due to the effect of diversification. |
Quarter |
Daily average VaR |
|||
(in billions) |
||||
April—June 2020 |
¥ | 1.61 | ||
July—September 2020 |
1.70 | |||
October—December 2020 |
1.65 | |||
January—March 2021 |
1.59 |
Average |
Maximum (1) |
Minimum (1) |
||||||||||||||
(in billions) |
||||||||||||||||
MUFG |
¥ | 19.11 | ¥ | 35.78 | ¥ | 15.64 | ¥ | 24.81 | ||||||||
Interest rate |
18.56 | 35.03 | 14.21 | 24.31 | ||||||||||||
Yen |
6.07 | 11.67 | 4.10 | 9.35 | ||||||||||||
U.S. Dollars |
7.23 | 11.06 | 4.78 | 7.20 | ||||||||||||
Foreign exchange |
4.58 | 7.23 | 2.28 | 5.34 | ||||||||||||
Equities |
1.73 | 7.21 | 0.60 | 2.15 | ||||||||||||
Commodities |
0.00 | 0.07 | 0.00 | 0.00 | ||||||||||||
Less diversification effect |
(5.76 | ) | — | — | (6.99 | ) | ||||||||||
Average |
Maximum (1) |
Minimum (1) |
||||||||||||||
(in billions) |
||||||||||||||||
MUFG |
¥ | 26.18 | ¥ | 33.86 | ¥ | 21.97 | ¥ | 26.55 | ||||||||
Interest rate |
24.91 | 33.01 | 20.26 | 26.25 | ||||||||||||
Yen |
9.20 | 15.64 | 5.85 | 8.40 | ||||||||||||
U.S. Dollars |
9.97 | 13.59 | 7.57 | 12.74 | ||||||||||||
Foreign exchange |
4.68 | 6.86 | 3.58 | 5.36 | ||||||||||||
Equities |
2.79 | 11.49 | 0.82 | 2.71 | ||||||||||||
Commodities |
0.00 | 0.06 | 0.00 | 0.00 | ||||||||||||
Less diversification effect |
(6.20 | ) | — | — | (7.77 | ) |
Assumptions for VaR calculations: | ||||||||
Historical simulation method | ||||||||
Holding period: 10 business day | ||||||||
Confidence interval: 99% | ||||||||
Observation period: 701 business day |
(1) | The maximum and minimum VaR overall and for various risk categories were taken from different days. A simple summation of VaR by risk category is not equal to total VaR due to the effect of diversification. |
Average |
Maximum (1) |
Minimum (1) |
||||||||||||||
(in billions) |
||||||||||||||||
Interest rate |
¥ | 328.9 | ¥ | 711.5 | ¥ | 252.9 | ¥ | 613.4 | ||||||||
Yen |
157.0 | 216.1 | 128.0 | 207.5 | ||||||||||||
U.S. Dollars |
187.5 | 502.8 | 109.6 | 412.3 | ||||||||||||
Foreign exchange |
4.5 | 6.4 | 3.5 | 6.4 | ||||||||||||
Equities (2) |
174.8 | 214.2 | 112.0 | 156.9 | ||||||||||||
Less diversification effect |
(157.1 | ) | — | — | (104.0 | ) | ||||||||||
Total |
351.1 | 765.2 | 284.9 | 672.7 |
Average |
Maximum (1) |
Minimum (1) |
||||||||||||||
(in billions) |
||||||||||||||||
Interest rate |
¥ | 442.3 | ¥ | 577.0 | ¥ | 364.6 | ¥ | 468.1 | ||||||||
Yen |
183.4 | 212.4 | 158.8 | 201.4 | ||||||||||||
U.S. Dollars |
300.2 | 392.5 | 233.9 | 346.2 | ||||||||||||
Foreign exchange |
3.1 | 4.2 | 2.6 | 3.0 | ||||||||||||
Equities (2) |
250.9 | 365.2 | 138.2 | 311.3 | ||||||||||||
Less diversification effect |
(148.6 | ) | — | — | (168.4 | ) | ||||||||||
Total |
547.7 | 646.1 | 474.0 | 614.0 |
Assumptions for VaR calculations: |
Historical simulation method |
Holding period: 10 business days |
Confidence interval: 99% |
Observation period: 701 business days |
(1) | The maximum and minimum VaR overall for each category and in total were taken from different days. A simple summation of VaR by risk category is not equal to total VaR due to the effect of diversification. |
(2) | The equities-related risk figures do not include market risk exposure from our strategic equity portfolio. |
Quarter |
Daily average VaR |
|||
(in billions) |
||||
April—June 2020 |
¥ | 471.44 | ||
July—September 2020 |
418.62 | |||
October—December 2020 |
423.76 | |||
January—March 2021 |
456.55 |
• | Matters subject to reporting are limited to instances regarding the Group companies. |
• | Please provide detailed information with respect to the matter. Without detailed factual information there is a limit to how much our investigations can achieve. |
• | Anonymous information will be accepted. |
• | No information regarding the identity of the informant will be passed on to third parties without the approval of the informant him- or herself. However, this excludes instances where disclosure is legally mandated, or to the extent that the information is necessary for surveys or reports, when data may be passed on following the removal of the informant’s name. |
• | Please submit reports in either Japanese or English. |
• | If the informant wishes, we will endeavor to report back to the informant on the response taken within a reasonable period of time following the receipt of specific information, but cannot promise to do so in all instances. |
Line |
Divisions |
Roles | ||
The 1st Line of Defense |
Business divisions and client-facing divisions | • Undertake risks within the extent of risk exposure assigned • Responsible and accountable for identifying, evaluating and controlling business risks | ||
The 2nd Line of Defense |
Risk management division, compliance division, etc. | • Ensure that risks are appropriately identified and managed by the 1st Line of Defense | ||
The 3rd Line of Defense |
Internal audit division | • Independently evaluate the effectiveness of the governance, risk management, and control processes implemented by the 1st and 2nd Lines of Defense |
Item 12. |
Description of Securities Other than Equity Securities. |
A. |
Debt Securities |
B. |
Warrants and Rights |
C. |
Other Securities |
D. |
American Depositary Shares |
ADS holders must pay: |
For: | |
$5.00 (or less) per 100 ADSs (or portion thereof) |
Each issuance of an ADR, including as a result of a distribution of shares or rights or other property Each cancellation of an ADR, including if the agreement terminates | |
$0.02 (or less) per ADS |
Any cash distribution, to the extent permitted by any securities exchange on which the ADSs may be listed for trading | |
A fee equivalent to the fee that would be payable if securities distributed to the ADS holder had been shares and the shares had been deposited for issuance of ADRs | Distribution of securities distributed to holders of deposited securities which are distributed by the Depositary to registered ADS holders | |
Registration or transfer fees |
Transfer and registration of shares on the share register from your name to the name of The Bank of New York Mellon or its agent and vice versa when you deposit or withdraw shares | |
Expenses of The Bank of New York Mellon |
Conversion of foreign currency to U.S. dollars, as well as cable, telex and facsimile transmission expenses | |
Taxes and other governmental charges The Bank of New York Mellon or MUFG Bank, as custodian, have to pay on any ADS or share underlying an ADS, for example, stock transfer taxes, stamp duty or withholding taxes | As necessary |
Item 13. |
Defaults, Dividend Arrearages and Delinquencies. |
Item 14. |
Material Modifications to the Rights of Security Holders and Use of Proceeds. |
Item 15. |
Controls and Procedures. |
(i) | pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of MUFG, |
(ii) | provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of MUFG are being made only in accordance with authorizations of management and directors of MUFG, and |
(iii) | provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of MUFG’s assets that could have a material effect on the financial statements. |
Item 16A. |
Audit Committee Financial Expert. |
Item 16B. |
Code of Ethics. |
Item 16C. |
Principal Accountant Fees and Services. |
2020 |
2021 |
|||||||
(in millions) |
||||||||
Audit fees |
¥ | 8,564 | ¥ | 8,873 | ||||
Audit-related fees |
249 | 255 | ||||||
Tax fees |
117 | 85 | ||||||
All other fees |
420 | 54 | ||||||
|
|
|
|
|||||
Total |
¥ | 9,350 | ¥ | 9,267 | ||||
|
|
|
|
• | Periodic application pre-approval made each fiscal year for services that are expected to be provided by Deloitte Touche Tohmatsu LLC during the next fiscal year. |
• | Case-by-case pre-approval made on a case-by-case |
Item 16D. |
Exemptions from the Listing Standards for Audit Committees. |
Item 16E. |
Purchases of Equity Securities by the Issuer and Affiliated Purchasers. |
Total Number of Shares Purchased (1) |
Average Price Paid per Share |
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs |
Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs |
|||||||||||||
April 1 to April 30, 2020 |
1,799 | ¥ | 413.13 | — | — | |||||||||||
May 1 to May 31, 2020 |
1,372 | 418.83 | — | — | ||||||||||||
June 1 to June 30, 2020 |
1,616 | 449.13 | — | — | ||||||||||||
July 1 to July 31, 2020 |
2,929 | 421.27 | — | — | ||||||||||||
August 1 to August 31, 2020 |
1,674 | 421.65 | — | — | ||||||||||||
September 1 to September 30, 2020 |
2,066 | 440.97 | — | — | ||||||||||||
October 1 to October 31, 2020 |
2,710 | 423.82 | — | — | ||||||||||||
November 1 to November 30, 2020 |
2,377 | 442.53 | — | — | ||||||||||||
December 1 to December 31, 2020 |
3,572 | 452.66 | — | — | ||||||||||||
January 1 to January 31, 2021 |
2,619 | 480.64 | — | — | ||||||||||||
February 1 to February 28, 2021 |
2,550 | 517.49 | — | — | ||||||||||||
March 1 to March 31, 2021 |
3,315 | 596.38 | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
28,599 | ¥ | 463.90 | — | — |
(1) | The shares purchased were shares constituting less than one unit (100 shares) purchased from registered holders of the shares and shares purchased pursuant to applicable Japanese law from shareholders who have not responded to communications sent to their registered addresses for five consecutive years or more and by whom dividend payments have not been received for five consecutive years, each at the current market price. |
Item 16F. |
Change in Registrant’s Certifying Accountant. |
Item 16G. |
Corporate Governance. |
Item 16H. |
Mine Safety Disclosure. |
Item 17. |
Financial Statements. |
Item 18. |
Financial Statements. |
Item 19. |
Exhibits. |
Exhibit |
Description | |
1(a) |
Articles of Incorporation of Mitsubishi UFJ Financial Group, Inc., as amended on July 6, 2018 (English translation)* | |
1(b) |
Board of Directors Regulations of Mitsubishi UFJ Financial Group, Inc., as amended on June 25, 2015 (English translation)* | |
1(c) |
Corporation Meetings Regulations of Mitsubishi UFJ Financial Group, Inc., as amended on April 1, 2021 (English translation) | |
1(d) |
Share Handling Regulations of Mitsubishi UFJ Financial Group, Inc., as amended on June 25, 2015 (English Translation)** | |
1(e) |
Charter of the Audit Committee of Mitsubishi UFJ Financial Group, Inc., as amended on July 1, 2018 (English translation)* | |
1(f) |
Charter of the Compensation Committee of Mitsubishi UFJ Financial Group, Inc., as amended on July 1, 2018 (English translation)* | |
1(g) |
Charter of the Nominating and Governance Committee of Mitsubishi UFJ Financial Group, Inc., as amended on July 1, 2018 (English translation)* | |
1(h) |
Charter of the Risk Committee of Mitsubishi UFJ Financial Group, Inc., as amended on July 1, 2018 (English translation)* | |
2(a) |
Form of American Depositary Receipt* | |
2(b) |
Form of Deposit Agreement, amended and restated as of December 22, 2004, among Mitsubishi Tokyo Financial Group, Inc. (subsequently renamed Mitsubishi UFJ Financial Group, Inc.), The Bank of New York Mellon and the holders from time to time of American Depositary Receipts issued thereunder* | |
2(c) |
Description of Securities | |
8 |
Subsidiaries of the Company—see “Item 4.C. Information on the Company—Organizational Structure.” | |
11 |
MUFG Group Code of Conduct, Compliance Rules, Compliance Manual, and Rules of Employment of Mitsubishi UFJ Financial Group, Inc. applicable to its principal executive officer, principal financial officer, principal accounting officer and persons performing similar functions (English translation of relevant sections) |
Exhibit |
Description | |
12 |
Certifications required by Rule 13a-14(a) (17 CFR 240.13a-14(a)) or Rule 15d-14(a) (17 CFR 240.15d-14(a)) | |
13 |
Certifications required by Rule 13a-14(b) (17 CFR 240.13a-14(b)) or Rule 15d-14(b) (17 CFR 240.15d-14(b)) and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) | |
15(a) |
Consent of independent registered public accounting firm (Deloitte Touche Tohmatsu LLC) | |
15(b) |
Consent of independent registered public accounting firm (Deloitte & Touche LLP) | |
99(a) |
Capitalization and Indebtedness of Mitsubishi UFJ Financial Group, Inc. as of March 31, 2021*** | |
99(b) |
Unaudited Reverse Reconciliation of Selected Financial Information of Mitsubishi UFJ Financial Group, Inc. as of and for the fiscal year ended March 31, 2021**** | |
99(c) |
Financial Statements and Supplementary Data of Morgan Stanley***** | |
101.INS |
Inline XBRL Instance Document—the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document | |
101.SCH |
Inline XBRL Taxonomy Extension Schema Document | |
101.CAL |
Inline XBRL Taxonomy Extension Calculation Linkbase Document | |
101.DEF |
Inline XBRL Taxonomy Extension Definition Linkbase Document | |
101.LAB |
Inline XBRL Taxonomy Extension Label Linkbase Document | |
101.PRE |
Inline XBRL Taxonomy Extension Presentation Linkbase Document | |
104 |
The cover page for the Company’s Annual Report on From 20-F for the year ended March 31, 2021, has been formatted in Inline XBRL |
* | Incorporated by reference to our annual report on Form 20-F (File No. 000-54189) filed on July 12, 2018. |
** | Incorporated by reference to our registration statement on Form S-8 (File No. 333-230590) filed on March 29, 2019. |
*** | Deemed to be incorporated by reference into the registration statement on Form F-3 (No. of Mitsubishi UFJ Financial Group, Inc. and to be a part thereof. |
**** | Deemed to be incorporated as Annex A to the registration statement on Form F-3 (No. of Mitsubishi UFJ Financial Group, Inc. and to be a part thereof. |
***** | Incorporated by reference to Morgan Stanley’s annual report on Form 10-K (File No. 001-11758) filed on February 26, 2021. |
Fiscal years ended March 31, |
||||||||||||||||||||||||||||||||||||
2020 |
2021 |
|||||||||||||||||||||||||||||||||||
Average balance |
Interest income |
Average rate |
Average balance |
Interest income |
Average rate |
Average balance |
Interest income |
Average rate |
||||||||||||||||||||||||||||
(in millions, except percentages) |
||||||||||||||||||||||||||||||||||||
Assets: |
||||||||||||||||||||||||||||||||||||
Interest-earning assets: |
||||||||||||||||||||||||||||||||||||
Interest-earning deposits in other banks: |
||||||||||||||||||||||||||||||||||||
Domestic |
¥ | 32,727,743 | ¥ | 31,287 | 0.10 | % | ¥ | 30,349,122 | ¥ | 31,578 | 0.10 | % | ¥ | 38,009,750 | ¥ | 33,413 | 0.09 | % | ||||||||||||||||||
Foreign |
9,025,391 | 152,040 | 1.68 | 8,268,196 | 135,689 | 1.64 | 9,905,602 | 23,142 | 0.23 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Total |
41,753,134 | 183,327 | 0.44 | 38,617,318 | 167,267 | 0.43 | 47,915,352 | 56,555 | 0.12 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Call loans, funds sold, and receivables under resale agreements and securities borrowing transactions: |
||||||||||||||||||||||||||||||||||||
Domestic |
6,429,788 | 5,920 | 0.09 | 8,170,312 | 4,624 | 0.06 | 8,772,553 | (3,232 | ) | (0.04 | ) | |||||||||||||||||||||||||
Foreign |
7,594,119 | 149,788 | 1.97 | 10,339,632 | 252,973 | 2.45 | 9,894,459 | 86,459 | 0.87 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Total |
14,023,907 | 155,708 | 1.11 | 18,509,944 | 257,597 | 1.39 | 18,667,012 | 83,227 | 0.45 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Trading account assets: |
||||||||||||||||||||||||||||||||||||
Domestic |
5,204,308 | 31,284 | 0.60 | 7,305,805 | 29,108 | 0.40 | 9,641,674 | 38,554 | 0.40 | |||||||||||||||||||||||||||
Foreign |
19,467,632 | 468,440 | 2.41 | 22,242,975 | 460,734 | 2.07 | 22,805,949 | 334,646 | 1.47 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Total |
24,671,940 | 499,724 | 2.03 | 29,548,780 | 489,842 | 1.66 | 32,447,623 | 373,200 | 1.15 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Investment securities (1) : |
||||||||||||||||||||||||||||||||||||
Domestic |
35,073,801 | 202,755 | 0.58 | 34,535,660 | 200,330 | 0.58 | 43,679,522 | 141,557 | 0.32 | |||||||||||||||||||||||||||
Foreign |
7,782,349 | 195,448 | 2.51 | 8,623,509 | 214,175 | 2.48 | 8,568,989 | 156,703 | 1.83 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Total |
42,856,150 | 398,203 | 0.93 | 43,159,169 | 414,505 | 0.96 | 52,248,511 | 298,260 | 0.57 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Loans (2) : |
||||||||||||||||||||||||||||||||||||
Domestic |
65,843,445 | 777,306 | 1.18 | 64,897,973 | 732,783 | 1.13 | 68,785,326 | 618,678 | 0.90 | |||||||||||||||||||||||||||
Foreign |
52,258,780 | 1,799,111 | 3.44 | 51,550,492 | 1,865,149 | 3.62 | 48,852,657 | 1,322,076 | 2.71 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Total |
118,102,225 | 2,576,417 | 2.18 | 116,448,465 | 2,597,932 | 2.23 | 117,637,983 | 1,940,754 | 1.65 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Total interest-earning assets: |
||||||||||||||||||||||||||||||||||||
Domestic |
145,279,085 | 1,048,552 | 0.72 | 145,258,872 | 998,423 | 0.69 | 168,888,825 | 828,970 | 0.49 | |||||||||||||||||||||||||||
Foreign |
96,128,271 | 2,764,827 | 2.88 | 101,024,804 | 2,928,720 | 2.90 | 100,027,656 | 1,923,026 | 1.92 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Total |
241,407,356 | 3,813,379 | 1.58 | 246,283,676 | 3,927,143 | 1.59 | 268,916,481 | 2,751,996 | 1.02 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Non-interest-earning assets: |
||||||||||||||||||||||||||||||||||||
Cash and due from banks |
33,631,665 | 32,929,678 | 42,417,354 | |||||||||||||||||||||||||||||||||
Other non-interest-earning assets |
46,952,826 | 46,962,448 | 45,669,470 | |||||||||||||||||||||||||||||||||
Allowance for credit losses |
(699,000 | ) | (675,353 | ) | (1,010,734 | ) | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Total non-interest-earning assets |
79,885,491 | 79,216,773 | 87,076,090 | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Total assets |
¥ | 321,292,847 | ¥ | 325,500,449 | ¥ | 355,992,571 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
(1) | Tax-exempt income of tax-exempt investment securities has not been calculated on a tax equivalent basis because the effect of such calculation would not be material. |
(2) | Average balances on loans outstanding include all nonaccrual and restructured loans. See “III. Loan Portfolio.” The amortized portion of net loan origination fees (costs) is included in interest income on loans, which accounts for an insignificant amount of an adjustment to the yields. |
Fiscal years ended March 31, |
||||||||||||||||||||||||||||||||||||
2020 |
2021 |
|||||||||||||||||||||||||||||||||||
Average balance |
Interest expense |
Average rate |
Average balance |
Interest expense |
Average rate |
Average balance |
Interest expense |
Average rate |
||||||||||||||||||||||||||||
(in millions, except percentages) |
||||||||||||||||||||||||||||||||||||
Liabilities and equity: |
||||||||||||||||||||||||||||||||||||
Interest-bearing liabilities: |
||||||||||||||||||||||||||||||||||||
Deposits: |
||||||||||||||||||||||||||||||||||||
Domestic |
¥ |
124,661,909 |
¥ |
67,948 |
0.05 |
% |
¥ |
124,294,925 |
¥ |
77,143 |
0.06 |
% |
¥135,662,556 |
¥ |
35,308 |
0.03 |
% | |||||||||||||||||||
Foreign |
41,945,626 |
649,418 |
1.55 |
45,216,271 |
758,938 |
1.68 |
47,092,772 |
294,084 |
0.62 |
|||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Total |
166,607,535 |
717,366 |
0.43 |
169,511,196 |
836,081 |
0.49 |
182,755,328 |
329,392 |
0.18 |
|||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Call money, funds purchased, and payables under repurchase agreements and securities lending transactions: |
||||||||||||||||||||||||||||||||||||
Domestic |
17,201,589 |
188,009 |
1.09 |
17,245,242 |
137,759 |
0.80 |
18,084,898 |
39,725 |
0.22 |
|||||||||||||||||||||||||||
Foreign |
9,204,904 |
149,536 |
1.62 |
10,502,391 |
222,893 |
2.12 |
11,000,681 |
52,888 |
0.48 |
|||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Total |
26,406,493 |
337,545 |
1.28 |
27,747,633 |
360,652 |
1.30 |
29,085,579 |
92,613 |
0.32 |
|||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Due to trust account, other short-term borrowings and trading account liabilities: |
||||||||||||||||||||||||||||||||||||
Domestic |
5,777,333 |
13,576 |
0.23 |
6,025,686 |
20,557 |
0.34 |
16,025,141 |
26,464 |
0.17 |
|||||||||||||||||||||||||||
Foreign |
7,184,301 |
141,697 |
1.97 |
7,542,997 |
144,350 |
1.91 |
6,209,147 |
45,939 |
0.74 |
|||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Total |
12,961,634 |
155,273 |
1.20 |
13,568,683 |
164,907 |
1.22 |
22,234,288 |
72,403 |
0.33 |
|||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Long-term debt: |
||||||||||||||||||||||||||||||||||||
Domestic |
25,558,707 |
234,603 |
0.92 |
25,313,006 |
237,995 |
0.94 |
29,205,636 |
181,679 |
0.62 |
|||||||||||||||||||||||||||
Foreign |
3,108,828 |
73,194 |
2.35 |
2,721,002 |
84,709 |
3.11 |
2,632,097 |
71,815 |
2.73 |
|||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Total |
28,667,535 |
307,797 |
1.07 |
28,034,008 |
322,704 |
1.15 |
31,837,733 |
253,494 |
0.80 |
|||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Total interest-bearing liabilities: |
||||||||||||||||||||||||||||||||||||
Domestic |
173,199,538 |
504,136 |
0.29 |
172,878,859 |
473,454 |
0.27 |
198,978,231 |
283,176 |
0.14 |
|||||||||||||||||||||||||||
Foreign |
61,443,659 |
1,013,845 |
1.65 |
65,982,661 |
1,210,890 |
1.84 |
66,934,697 |
464,726 |
0.69 |
|||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Total |
234,643,197 |
1,517,981 |
0.65 |
238,861,520 |
1,684,344 |
0.71 |
265,912,928 |
747,902 |
0.28 |
|||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Non-interest-bearing liabilities |
70,572,971 |
71,221,044 |
74,398,116 |
|||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Total equity |
16,076,679 |
15,417,885 |
15,681,527 |
|||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Total liabilities and equity |
¥ |
321,292,847 |
¥ |
325,500,449 |
¥ |
355,992,571 |
||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Net interest income and interest rate spread |
¥ |
2,295,398 |
0.93 |
% |
¥ |
2,242,799 |
0.88 |
% |
¥ |
2,004,094 |
0.74 |
% | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Net interest income as a percentage of total interest-earning assets |
0.95 |
% |
0.91 |
% |
0.75 |
% | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
Increase (decrease) due to changes in |
Net change |
Increase (decrease) due to changes in |
Net change |
|||||||||||||||||||||
Volume (1) |
Rate (1) |
Volume (1) |
Rate (1) |
|||||||||||||||||||||
(in millions) |
||||||||||||||||||||||||
Interest income: |
||||||||||||||||||||||||
Interest-earning deposits in other banks: |
||||||||||||||||||||||||
Domestic |
¥ | (2,365 | ) | ¥ | 2,656 | ¥ | 291 | ¥ | 7,205 | ¥ | (5,370 | ) | ¥ | 1,835 | ||||||||||
Foreign |
(12,504 | ) | (3,847 | ) | (16,351 | ) | 22,548 | (135,095 | ) | (112,547 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total |
(14,869 | ) | (1,191 | ) | (16,060 | ) | 29,753 | (140,465 | ) | (110,712 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Call loans, funds sold, and receivables under resale agreements and securities borrowing transactions: |
||||||||||||||||||||||||
Domestic |
1,348 | (2,644 | ) | (1,296 | ) | 317 | (8,173 | ) | (7,856 | ) | ||||||||||||||
Foreign |
61,973 | 41,212 | 103,185 | (10,452 | ) | (156,062 | ) | (166,514 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total |
63,321 | 38,568 | 101,889 | (10,135 | ) | (164,235 | ) | (174,370 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Trading account assets: |
||||||||||||||||||||||||
Domestic |
10,311 | (12,487 | ) | (2,176 | ) | 9,340 | 106 | 9,446 | ||||||||||||||||
Foreign |
62,079 | (69,785 | ) | (7,706 | ) | 11,389 | (137,477 | ) | (126,088 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total |
72,390 | (82,272 | ) | (9,882 | ) | 20,729 | (137,371 | ) | (116,642 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Investment securities (2) : |
||||||||||||||||||||||||
Domestic |
(3,120 | ) | 695 | (2,425 | ) | 44,264 | (103,037 | ) | (58,773 | ) | ||||||||||||||
Foreign |
20,913 | (2,186 | ) | 18,727 | (1,346 | ) | (56,126 | ) | (57,472 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total |
17,793 | (1,491 | ) | 16,302 | 42,918 | (159,163 | ) | (116,245 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Loans: |
||||||||||||||||||||||||
Domestic |
(11,041 | ) | (33,482 | ) | (44,523 | ) | 41,862 | (155,967 | ) | (114,105 | ) | |||||||||||||
Foreign |
(24,645 | ) | 90,683 | 66,038 | (93,380 | ) | (449,693 | ) | (543,073 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total |
(35,686 | ) | 57,201 | 21,515 | (51,518 | ) | (605,660 | ) | (657,178 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total interest income: |
||||||||||||||||||||||||
Domestic |
(4,867 | ) | (45,262 | ) | (50,129 | ) | 102,988 | (272,441 | ) | (169,453 | ) | |||||||||||||
Foreign |
107,816 | 56,077 | 163,893 | (71,241 | ) | (934,453 | ) | (1,005,694 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total |
¥ | 102,949 | ¥ | 10,815 | ¥ | 113,764 | ¥ | 31,747 | ¥ | (1,206,894 | ) | ¥ | (1,175,147 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
(1) | Volume/rate variance is allocated based on the percentage relationship of changes in volume and changes in rate to the total “net change.” |
(2) | Tax-exempt income of tax-exempt investment securities has not been calculated on a tax equivalent basis because the effect of such calculation would not be material. |
Increase (decrease) due to changes in |
Net change |
Increase (decrease) due to changes in |
Net change |
|||||||||||||||||||||
Volume (1) |
Rate (1) |
Volume (1) |
Rate (1) |
|||||||||||||||||||||
(in millions) |
||||||||||||||||||||||||
Interest expense: |
||||||||||||||||||||||||
Deposits: |
||||||||||||||||||||||||
Domestic |
¥ | (201 | ) | ¥ | 9,396 | ¥ | 9,195 | ¥ | 6,498 | ¥ | (48,333 | ) | ¥ | (41,835 | ) | |||||||||
Foreign |
52,686 | 56,834 | 109,520 | 30,270 | (495,124 | ) | (464,854 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total |
52,485 | 66,230 | 118,715 | 36,768 | (543,457 | ) | (506,689 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Call money, funds purchased, and payables under repurchase agreements and securities lending transactions: |
||||||||||||||||||||||||
Domestic |
476 | (50,726 | ) | (50,250 | ) | 6,401 | (104,435 | ) | (98,034 | ) | ||||||||||||||
Foreign |
23,113 | 50,244 | 73,357 | 10,102 | (180,107 | ) | (170,005 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total |
23,589 | (482 | ) | 23,107 | 16,503 | (284,542 | ) | (268,039 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Due to trust account, other short-term borrowings and trading account liabilities: |
||||||||||||||||||||||||
Domestic |
607 | 6,374 | 6,981 | 20,687 | (14,780 | ) | 5,907 | |||||||||||||||||
Foreign |
6,943 | (4,290 | ) | 2,653 | (22,022 | ) | (76,389 | ) | (98,411 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total |
7,550 | 2,084 | 9,634 | (1,335 | ) | (91,169 | ) | (92,504 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Long-term debt: |
||||||||||||||||||||||||
Domestic |
(2,271 | ) | 5,663 | 3,392 | 32,729 | (89,045 | ) | (56,316 | ) | |||||||||||||||
Foreign |
(9,952 | ) | 21,467 | 11,515 | (2,696 | ) | (10,198 | ) | (12,894 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total |
(12,223 | ) | 27,130 | 14,907 | 30,033 | ¥ | (99,243 | ) | ¥ | (69,210 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total interest expense: |
||||||||||||||||||||||||
Domestic |
(1,389 | ) | (29,293 | ) | (30,682 | ) | 66,315 | ¥ | (256,593 | ) | (190,278 | ) | ||||||||||||
Foreign |
72,790 | 124,255 | 197,045 | 15,654 | (761,818 | ) | (746,164 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total |
¥ | 71,401 | ¥ | 94,962 | ¥ | 166,363 | ¥ | 81,969 | ¥ | (1,018,411 | ) | ¥ | (936,442 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net interest income: |
||||||||||||||||||||||||
Domestic |
¥ | (3,478 | ) | ¥ | (15,969 | ) | ¥ | (19,447 | ) | ¥ | 36,673 | ¥ | (15,848 | ) | ¥ | 20,825 | ||||||||
Foreign |
35,026 | (68,178 | ) | (33,152 | ) | (86,895 | ) | (172,635 | ) | (259,530 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total |
¥ | 31,548 | ¥ | (84,147 | ) | ¥ | (52,599 | ) | ¥ | (50,222 | ) | ¥ | (188,483 | ) | ¥ | (238,705 | ) | |||||||
|
|
|
|
|
|
|
|
|
|
|
|
(1) | Volume/rate variance is allocated based on the percentage relationship of changes in volume and changes in rate to the total “net change.” |
II. |
Investment Portfolio |
At March 31, |
||||||||||||||||||||||||||||||||||||
2020 |
2021 |
|||||||||||||||||||||||||||||||||||
Amortized cost |
Fair value |
Net unrealized gains (losses) |
Amortized cost |
Fair value |
Net unrealized gains (losses) |
Amortized cost |
Fair value |
Net unrealized gains (losses) |
||||||||||||||||||||||||||||
(in millions) |
||||||||||||||||||||||||||||||||||||
Available-for-sale |
||||||||||||||||||||||||||||||||||||
Domestic: |
||||||||||||||||||||||||||||||||||||
Japanese national government and Japanese government agency bonds |
¥ | 23,748,558 | ¥ | 24,077,696 | ¥ | 329,138 | ¥ | 23,308,538 | ¥ | 23,462,879 | ¥ | 154,341 | ¥ | 35,166,245 | ¥ | 35,273,211 | ¥ | 106,966 | ||||||||||||||||||
Corporate bonds |
988,137 | 999,707 | 11,570 | 1,090,442 | 1,099,328 | 8,886 | 982,214 | 991,039 | 8,825 | |||||||||||||||||||||||||||
Other securities |
3,377,266 | 3,402,696 | 25,430 | 4,064,659 | 4,080,746 | 16,087 | 5,233,649 | 5,246,547 | 12,898 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Total domestic |
28,113,961 | 28,480,099 | 366,138 | 28,463,639 | 28,642,953 | 179,314 | 41,382,108 | 41,510,797 | 128,689 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Foreign: |
||||||||||||||||||||||||||||||||||||
U.S. Treasury and other U.S. government agencies bonds |
1,722,943 | 1,710,328 | (12,615 | ) | 1,994,173 | 2,086,763 | 92,590 | 1,805,518 | 1,873,019 | 67,501 | ||||||||||||||||||||||||||
Other government and official institution bonds |
925,931 | 931,091 | 5,160 | 941,937 | 950,725 | 8,788 | 1,048,519 | 1,053,944 | 5,425 | |||||||||||||||||||||||||||
Mortgage-backed securities |
1,138,101 | 1,115,714 | (22,387 | ) | 1,063,983 | 1,064,787 | 804 | 1,096,412 | 1,133,253 | 36,841 | ||||||||||||||||||||||||||
Other securities |
1,273,551 | 1,281,271 | 7,720 | 1,444,035 | 1,454,975 | 10,940 | 1,531,288 | 1,546,800 | 15,512 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Total foreign |
5,060,526 | 5,038,404 | (22,122 | ) | 5,444,128 | 5,557,250 | 113,122 | 5,481,737 | 5,607,016 | 125,279 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Total |
¥ | 33,174,487 | ¥ | 33,518,503 | ¥ | 344,016 | ¥ | 33,907,767 | ¥ | 34,200,203 | ¥ | 292,436 | ¥ | 46,863,845 | ¥ | 47,117,813 | ¥ | 253,968 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Held-to-maturity |
||||||||||||||||||||||||||||||||||||
Domestic: |
||||||||||||||||||||||||||||||||||||
Japanese national government and Japanese government agency bonds |
¥ | 1,100,701 | ¥ | 1,142,320 | ¥ | 41,619 | ¥ | 1,100,574 | ¥ | 1,130,430 | ¥ | 29,856 | ¥ | 1,100,447 | ¥ | 1,123,480 | ¥ | 23,033 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Total domestic |
1,100,701 | 1,142,320 | 41,619 | 1,100,574 | 1,130,430 | 29,856 | 1,100,447 | 1,123,480 | 23,033 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Foreign: |
||||||||||||||||||||||||||||||||||||
U.S. Treasury and other U.S. government agencies bonds |
138,731 | 138,712 | (19 | ) | 148,927 | 148,318 | (609 | ) | 233,883 | 233,350 | (533 | ) | ||||||||||||||||||||||||
Other government and official institution bonds |
— | — | — | 2,628 | 2,791 | 163 | — | — | — | |||||||||||||||||||||||||||
Mortgage-backed securities |
1,071,257 | 1,051,135 | (20,122 | ) | 883,281 | 893,423 | 10,142 | 522,774 | 546,210 | 23,436 | ||||||||||||||||||||||||||
Asset-backed securities |
2,131,212 | 2,120,780 | (10,432 | ) | 2,030,371 | 2,002,932 | (27,439 | ) | 2,046,659 | 2,036,103 | (10,556 | ) | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Total foreign |
3,341,200 | 3,310,627 | (30,573 | ) | 3,065,207 | 3,047,464 | (17,743 | ) | 2,803,316 | 2,815,663 | 12,347 | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Total |
¥ | 4,441,901 | ¥ | 4,452,947 | ¥ | 11,046 | ¥ | 4,165,781 | ¥ | 4,177,894 | ¥ | 12,113 | ¥ | 3,903,763 | ¥ | 3,939,143 | ¥ | 35,380 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Marketable equity securities: |
||||||||||||||||||||||||||||||||||||
Domestic: |
||||||||||||||||||||||||||||||||||||
Marketable equity securities |
— | ¥ | 6,331,815 | — | — | ¥ | 4,740,188 | — | — | ¥ | 5,716,702 | — | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Total domestic |
— | 6,331,815 | — | — | 4,740,188 | — | — | 5,716,702 | — | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Foreign: |
||||||||||||||||||||||||||||||||||||
Marketable equity securities |
— | 26,728 | — | — | 28,130 | — | — | 42,790 | — | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Total foreign |
— | 26,728 | — | — | 28,130 | — | — | 42,790 | — | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Total |
— | ¥ | 6,358,543 | — | — | ¥ | 4,768,318 | — | — | ¥ | 5,759,492 | — | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Maturities within one year |
Maturities after one year but within five years |
Maturities after five years but within ten years |
Maturities after ten years |
Total |
||||||||||||||||||||||||||||||||||||
Amount |
Yield |
Amount |
Yield |
Amount |
Yield |
Amount |
Yield |
Amount |
Yield |
|||||||||||||||||||||||||||||||
(in millions, except percentages) |
||||||||||||||||||||||||||||||||||||||||
Available-for-sale |
||||||||||||||||||||||||||||||||||||||||
Domestic: |
||||||||||||||||||||||||||||||||||||||||
Japanese national government and Japanese government agency bonds |
¥ | 22,972,078 | 0.03 | % | ¥ | 3,803,768 | |
0.12 |
% |
¥ | 4,534,262 | |
0.21 |
% |
¥ | 3,963,103 | 0.67 | % | ¥ | 35,273,211 | 0.14 | % | ||||||||||||||||||
Corporate bonds |
217,839 | 0.13 | 632,369 | 0.16 | 103,568 | 0.42 | 37,263 | 0.50 | 991,039 | 0.19 | ||||||||||||||||||||||||||||||
Other securities |
668,132 | 0.03 | 1,409,546 | 0.23 | 2,460,633 | 0.16 | 708,236 | 0.23 | 5,246,547 | 0.17 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Total domestic |
23,858,049 | 0.03 | 5,845,683 | 0.15 | 7,098,463 | 0.20 | 4,708,602 | 0.60 | 41,510,797 | 0.14 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Foreign: |
||||||||||||||||||||||||||||||||||||||||
U.S. Treasury and other U.S. government agencies bonds |
198,875 | 1.93 | 672,375 | 2.21 | 985,115 | 2.19 | 16,654 | 1.24 | 1,873,019 | 2.16 | ||||||||||||||||||||||||||||||
Other government and official institution bonds |
343,761 | 2.19 | 686,038 | 2.09 | 23,573 | 3.39 | 572 | 3.78 | 1,053,944 | 2.15 | ||||||||||||||||||||||||||||||
Mortgage-backed securities |
— | — | 6,704 | 2.12 | 279,943 | 2.14 | 846,606 | 2.19 | 1,133,253 | 2.18 | ||||||||||||||||||||||||||||||
Other securities |
414,636 | 1.79 | 918,883 | 2.59 | 162,619 | 2.35 | 50,662 | 1.73 | 1,546,800 | 2.32 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Total foreign |
957,272 | 1.96 | 2,284,000 | 2.33 | 1,451,250 | 2.22 | 914,494 | 2.15 | 5,607,016 | 2.21 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Total |
¥ | 24,815,321 | 0.11 | % | ¥ | 8,129,683 | 0.76 | % | ¥ | 8,549,713 | 0.53 | % | ¥ | 5,623,096 | 0.85 | % | ¥ | 47,117,813 | 0.38 | % | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Held-to-maturity |
||||||||||||||||||||||||||||||||||||||||
Domestic: |
||||||||||||||||||||||||||||||||||||||||
Japanese national government and Japanese government agency bonds |
¥ | — | — | % | ¥ | 1,100,447 | 0.51 | % | ¥ | — | — | % | ¥ | — | — | % | ¥ | 1,100,447 | 0.51 | % | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Total domestic |
— | — | 1,100,447 | 0.51 | — | — | — | — | 1,100,447 | 0.51 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Foreign: |
||||||||||||||||||||||||||||||||||||||||
U.S. Treasury and other U.S. government agencies bonds |
— | — | — | — | 45,644 | 2.12 | 188,239 | 1.62 | 233,883 | 1.72 | ||||||||||||||||||||||||||||||
Mortgage-backed securities |
— | — | 64,067 | 2.22 | 67,793 | 2.31 | 390,914 | 2.64 | 522,774 | 2.55 | ||||||||||||||||||||||||||||||
Asset-backed securities |
14,562 | 0.45 | 15,445 | 0.77 | 713,396 | 0.91 | 1,303,256 | 1.13 | 2,046,659 | 1.04 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Total foreign |
14,562 | 0.45 | 79,512 | 1.94 | 826,833 | 1.09 | 1,882,409 | 1.49 | 2,803,316 | 1.38 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Total |
¥ | 14,562 | 0.45 | % | ¥ | 1,179,959 | 0.61 | % | ¥ | 826,833 | 1.09 | % | ¥ | 1,882,409 | 1.49 | % | ¥ | 3,903,763 | 1.13 | % | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
III. |
Loan Portfolio |
At March 31, |
||||||||||||||||||||
2018 |
2019 |
2020 |
2021 |
|||||||||||||||||
(in millions) |
||||||||||||||||||||
Domestic: |
||||||||||||||||||||
Manufacturing |
¥ | 11,796,803 | ¥ | 10,876,625 | ¥ | 11,153,996 | ¥ | 11,448,778 | ¥ | 13,133,360 | ||||||||||
Construction |
819,262 | 781,262 | 717,664 | 733,212 | 763,958 | |||||||||||||||
Real estate |
11,622,372 | 11,763,769 | 11,706,419 | 12,054,671 | 11,997,301 | |||||||||||||||
Services |
2,549,300 | 2,689,086 | 2,653,191 | 2,585,111 | 2,908,975 | |||||||||||||||
Wholesale and retail |
7,970,579 | 7,989,080 | 7,643,397 | 7,504,561 | 7,766,070 | |||||||||||||||
Banks and other financial institutions (1) |
5,223,906 | 4,818,364 | 5,213,020 | 5,161,093 | 6,443,296 | |||||||||||||||
Communication and information services |
1,634,584 | 1,551,533 | 1,510,596 | 1,572,344 | 1,407,738 | |||||||||||||||
Other industries |
8,898,712 | 8,939,291 | 8,756,483 | 8,673,871 | 8,838,718 | |||||||||||||||
Consumer |
16,491,010 | 16,287,332 | 15,802,024 | 15,319,721 | 15,066,986 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total domestic |
67,006,528 | 65,696,342 | 65,156,790 | 65,053,362 | 68,326,402 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Foreign: |
||||||||||||||||||||
Governments and official institutions |
1,037,795 | 920,538 | 841,695 | 726,347 | 655,367 | |||||||||||||||
Banks and other financial institutions (1) |
13,844,964 | 12,851,570 | 11,641,373 | 11,788,225 | 10,649,029 | |||||||||||||||
Commercial and industrial |
30,279,641 | 30,591,173 | 31,951,169 | 32,565,030 | 29,574,176 | |||||||||||||||
Other |
6,334,551 | 7,270,928 | 7,597,502 | 8,404,062 | 6,822,771 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total foreign |
51,496,951 | 51,634,209 | 52,031,739 | 53,483,664 | 47,701,343 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total |
118,503,479 | 117,330,551 | 117,188,529 | 118,537,026 | 116,027,745 | |||||||||||||||
Unearned income, unamortized premiums—net and deferred loan fees—net |
(288,507 | ) | (294,656 | ) | (304,588 | ) | (350,287 | ) | (308,882 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total (2) |
¥ | 118,214,972 | ¥ | 117,035,895 | ¥ | 116,883,941 | ¥ | 118,186,739 | ¥ | 115,718,863 | ||||||||||
|
|
|
|
|
|
|
|
|
|
(1) | Loans to so-called “non-bank finance companies” are generally included in the “Banks and other financial institutions” category. Non-bank finance companies are primarily engaged in consumer lending, factoring and credit card businesses. |
(2) | The above table includes loans held for sale of ¥185,940 million, ¥226,923 million, ¥291,794 million, ¥344,790 million and ¥353,095 million at March 31, 2017, 2018, 2019, 2020 and 2021, respectively, which are carried at the lower of cost or fair value. |
Maturity |
||||||||||||||||
One year or less |
One to five years |
Over five years |
Total |
|||||||||||||
(in millions) |
||||||||||||||||
Domestic: |
||||||||||||||||
Manufacturing |
¥ | 6,791,586 | ¥ | 4,081,940 | ¥ | 2,259,834 | ¥ | 13,133,360 | ||||||||
Construction |
394,730 | 267,815 | 101,413 | 763,958 | ||||||||||||
Real estate |
2,572,698 | 4,458,503 | 4,966,100 | 11,997,301 | ||||||||||||
Services |
1,290,437 | 1,127,387 | 491,151 | 2,908,975 | ||||||||||||
Wholesale and retail |
5,417,809 | 1,578,268 | 769,993 | 7,766,070 | ||||||||||||
Banks and other financial institutions |
3,878,557 | 1,780,739 | 784,000 | 6,443,296 | ||||||||||||
Communication and information services |
364,682 | 906,526 | 136,530 | 1,407,738 | ||||||||||||
Other industries |
4,877,299 | 2,182,011 | 1,779,408 | 8,838,718 | ||||||||||||
Consumer |
2,056,352 | 3,024,685 | 9,985,949 | 15,066,986 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Domestic |
27,644,150 | 19,407,874 | 21,274,378 | 68,326,402 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Foreign |
21,179,115 | 16,101,709 | 10,420,519 | 47,701,343 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
¥ | 48,823,265 | ¥ | 35,509,583 | ¥ | 31,694,897 | ¥ | 116,027,745 | ||||||||
|
|
|
|
|
|
|
|
Domestic |
Foreign |
Total |
||||||||||
(in millions) |
||||||||||||
Predetermined rate |
¥ | 19,901,638 | ¥ | 5,309,349 | ¥ | 25,210,987 | ||||||
Floating or adjustable rate |
20,780,614 | 21,212,879 | 41,993,493 | |||||||||
|
|
|
|
|
|
|||||||
Total |
¥ | 40,682,252 | ¥ | 26,522,228 | ¥ | 67,204,480 | ||||||
|
|
|
|
|
|
At March 31, |
||||||||||||||||||||
2018 |
2019 |
2020 |
2021 |
|||||||||||||||||
(in millions) |
||||||||||||||||||||
Nonaccrual loans: |
||||||||||||||||||||
Domestic: |
||||||||||||||||||||
Manufacturing |
¥ | 185,124 | ¥ | 77,188 | ¥ | 65,921 | ¥ | 93,798 | ¥ | 251,815 | ||||||||||
Construction |
15,248 | 10,922 | 9,877 | 8,558 | 6,521 | |||||||||||||||
Real estate |
50,142 | 37,853 | 26,513 | 30,449 | 86,979 | |||||||||||||||
Services |
38,977 | 31,733 | 27,115 | 52,182 | 89,552 | |||||||||||||||
Wholesale and retail |
131,545 | 108,639 | 94,990 | 94,440 | 100,889 | |||||||||||||||
Banks and other financial institutions |
2,432 | 1,145 | 898 | 994 | 689 | |||||||||||||||
Communication and information services |
18,711 | 13,815 | 11,955 | 10,539 | 10,086 | |||||||||||||||
Other industries |
10,352 | 37,677 | 26,110 | 20,766 | 9,764 | |||||||||||||||
Consumer |
161,680 | 149,491 | 143,668 | 136,181 | 138,331 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total domestic |
614,211 | 468,463 | 407,047 | 447,907 | 694,626 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Foreign: |
||||||||||||||||||||
Governments and official institutions |
— | — | — | 34 | 155 | |||||||||||||||
Banks and other financial institutions |
5,902 | 1,716 | 1,160 | 443 | 10,562 | |||||||||||||||
Commercial and industrial |
301,685 | 215,601 | 219,669 | 255,214 | 393,592 | |||||||||||||||
Other |
64,834 | 67,869 | 78,780 | 100,628 | 123,468 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total foreign |
372,421 | 285,186 | 299,609 | 356,319 | 527,777 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total |
¥ | 986,632 | ¥ | 753,649 | ¥ | 706,656 | ¥ | 804,226 | ¥ | 1,222,403 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Restructured loans: |
||||||||||||||||||||
Domestic |
¥ | 682,041 | ¥ | 557,368 | ¥ | 511,151 | ¥ | 492,566 | ¥ | 543,372 | ||||||||||
Foreign |
158,784 | 137,674 | 127,931 | 172,549 | 167,524 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total |
¥ | 840,825 | ¥ | 695,042 | ¥ | 639,082 | ¥ | 665,115 | ¥ | 710,896 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Accruing loans contractually past due 90 days or more: |
||||||||||||||||||||
Domestic |
¥ | 37,650 | ¥ | 17,356 | ¥ | 13,621 | ¥ | 11,148 | ¥ | 15,822 | ||||||||||
Foreign (1) |
3,430 | 2,408 | 2,778 | 2,339 | 4,717 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total |
¥ | 41,080 | ¥ | 19,764 | ¥ | 16,399 | ¥ | 13,487 | ¥ | 20,539 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total (2) |
¥ | 1,868,537 | ¥ | 1,468,455 | ¥ | 1,362,137 | ¥ | 1,482,828 | ¥ | 1,953,838 | ||||||||||
|
|
|
|
|
|
|
|
|
|
(1) | Foreign accruing loans contractually past due 90 days or more do not include ¥1,514 million, ¥549 million, ¥234 million, ¥74 million and nil of Federal Deposit Insurance Corporation (“FDIC”) covered loans held by MUFG Americas Holdings which are subject to the guidance on loans and debt securities acquired with deteriorated credit quality at March 31, 2017, 2018, 2019, 2020 and 2021, respectively. |
Cross-border outstandings |
Percentage of total assets |
|||||||
(in millions, except percentage) |
||||||||
Cayman Islands |
¥ | 2,830,846 | 0.80 | % |
IV. |
Summary of Loan Loss Experience |
Fiscal years ended March 31, |
||||||||||||||||||||
2018 |
2019 |
2020 |
2021 |
|||||||||||||||||
(in millions, except percentages) |
||||||||||||||||||||
Allowance for credit losses at beginning of fiscal year |
¥ | 1,111,130 | ¥ | 1,182,188 | ¥ | 764,124 | ¥ | 658,184 | ¥ | 809,540 | ||||||||||
Effect of adopting new guidance on measurement of credit losses on financial instruments (2) |
— | — | — | — | 323,704 | |||||||||||||||
Provision for (reversal of) credit losses |
253,688 | (240,847 | ) | 34,330 | 321,713 | 484,210 | ||||||||||||||
Charge-offs: |
||||||||||||||||||||
Domestic: |
||||||||||||||||||||
Manufacturing |
30,549 | 10,621 | 10,525 | 9,923 | 4,132 | |||||||||||||||
Construction |
647 | 789 | 992 | 300 | 208 | |||||||||||||||
Real estate |
2,318 | 1,305 | 619 | 2,584 | 4,625 | |||||||||||||||
Services |
5,225 | 1,867 | 4,207 | 6,533 | 4,879 | |||||||||||||||
Wholesale and retail |
17,402 | 20,979 | 20,901 | 12,529 | 3,873 | |||||||||||||||
Banks and other financial institutions |
— | 650 | 2,523 | 12 | 154 | |||||||||||||||
Communication and information services |
2,903 | 1,254 | 11,309 | 1,370 | 375 | |||||||||||||||
Other industries |
767 | 29,839 | 2,758 | 596 | 1,392 | |||||||||||||||
Consumer |
22,877 | 26,786 | 24,795 | 28,791 | 28,443 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total domestic |
82,688 | 94,090 | 78,629 | 62,638 | 48,081 | |||||||||||||||
Total foreign |
131,070 | 138,019 | 95,412 | 180,497 | 242,425 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total |
213,758 | 232,109 | 174,041 | 243,135 | 290,506 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Recoveries collected: |
||||||||||||||||||||
Domestic |
21,954 | 22,261 | 15,467 | 24,838 | 10,189 | |||||||||||||||
Foreign |
21,995 | 28,849 | 28,650 | 39,020 | 34,893 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total |
43,949 | 51,110 | 44,117 | 63,858 | 45,082 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net charge-offs |
169,809 | 180,999 | 129,924 | 179,277 | 245,424 | |||||||||||||||
Other (1) |
(12,821 | ) | 3,782 | (10,346 | ) | 8,920 | (23,639 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Allowance for credit losses at end of fiscal year |
¥ | 1,182,188 | ¥ | 764,124 | ¥ | 658,184 | ¥ | 809,540 | ¥ | 1,348,391 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Allowance for credit losses applicable to foreign activities: |
||||||||||||||||||||
Balance at beginning of fiscal year |
¥ | 416,221 | ¥ | 387,250 | ¥ | 303,719 | ¥ | 303,867 | ¥ | 402,784 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Balance at end of fiscal year |
¥ | 387,250 | ¥ | 303,719 | ¥ | 303,867 | ¥ | 402,784 | ¥ | 675,597 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Provision for credit losses |
¥ | 92,689 | ¥ | 21,889 | ¥ | 77,338 | ¥ | 231,831 | ¥ | 274,808 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Ratio of net charge-offs during the fiscal year to average loans outstanding during the fiscal year |
0.14 | % | 0.15 | % | 0.11 | % | 0.15 | % | 0.21 | % |
(1) | Other principally includes losses (gains) from foreign exchange translation. |
(2) | For more information, see Note 1 to our consolidated financial statements included elsewhere in this Annual Report. |
At March 31, |
||||||||||||||||||||||||||||||||||||||||
2018 |
2019 |
2020 |
2021 |
|||||||||||||||||||||||||||||||||||||
Amount |
% of loans in each category to total loans |
Amount |
% of loans in each category to total loans |
Amount |
% of loans in each category to total loans |
Amount |
% of loans in each category to total loans |
Amount |
% of loans in each category to total loans |
|||||||||||||||||||||||||||||||
(in millions, except percentages) |
||||||||||||||||||||||||||||||||||||||||
Domestic: |
||||||||||||||||||||||||||||||||||||||||
Manufacturing |
¥ | 409,018 | 9.95 | % | ¥ | 179,799 | 9.27 | % | ¥ | 108,463 | 9.52 | % | ¥ | 146,281 | 9.66 | % | ¥ | 178,960 | 11.32 | % | ||||||||||||||||||||
Construction |
12,097 | 0.69 | 7,934 | 0.67 | 6,856 | 0.61 | 5,671 | 0.62 | 5,603 | 0.66 | ||||||||||||||||||||||||||||||
Real estate |
33,579 | 9.81 | 21,062 | 10.03 | 15,664 | 9.99 | 15,244 | 10.17 | 92,972 | 10.34 | ||||||||||||||||||||||||||||||
Services |
42,023 | 2.15 | 29,518 | 2.29 | 24,473 | 2.26 | 45,202 | 2.18 | 86,680 | 2.51 | ||||||||||||||||||||||||||||||
Wholesale and retail |
138,119 | 6.73 | 99,985 | 6.81 | 93,112 | 6.52 | 93,636 | 6.33 | 103,770 | 6.69 | ||||||||||||||||||||||||||||||
Banks and other financial institutions |
14,732 | 4.41 | 7,636 | 4.11 | 6,198 | 4.45 | 5,932 | 4.35 | 31,597 | 5.55 | ||||||||||||||||||||||||||||||
Communication and information services |
13,902 | 1.38 | 17,300 | 1.32 | 8,327 | 1.29 | 7,327 | 1.33 | 9,648 | 1.21 | ||||||||||||||||||||||||||||||
Other industries |
25,156 | 7.50 | 13,543 | 7.62 | 15,398 | 7.47 | 15,055 | 7.32 | 34,195 | 7.62 | ||||||||||||||||||||||||||||||
Consumer |
106,312 | 13.92 | 80,238 | 13.88 | 75,271 | 13.49 | 72,408 | 12.93 | 129,369 | 12.99 | ||||||||||||||||||||||||||||||
Foreign: |
||||||||||||||||||||||||||||||||||||||||
Governments and official institutions |
25,098 | 0.88 | 751 | 0.78 | 367 | 0.72 | 369 | 0.61 | 913 | 0.56 | ||||||||||||||||||||||||||||||
Banks and other financial institutions |
20,717 | 11.68 | 10,452 | 10.95 | 6,970 | 9.93 | 10,117 | 9.94 | 28,273 | 9.18 | ||||||||||||||||||||||||||||||
Commercial and industrial |
263,429 | 25.55 | 197,653 | 26.07 | 196,237 | 27.27 | 250,438 | 27.47 | 397,239 | 25.49 | ||||||||||||||||||||||||||||||
Other |
78,006 | 5.35 | 94,863 | 6.20 | 100,293 | 6.48 | 141,860 | 7.09 | 249,172 | 5.88 | ||||||||||||||||||||||||||||||
Unallocated |
— | — | 3,390 | — | 555 | — | — | — | — | — | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Total |
¥ | 1,182,188 | 100.00 | % | ¥ | 764,124 | 100.00 | % | ¥ | 658,184 | 100.00 | % | ¥ | 809,540 | 100.00 | % | ¥ | 1,348,391 | 100.00 | % | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Allowance as a percentage of loans |
1.00 | % | 0.65 | % | 0.56 | % | 0.68 | % | 1.17 | % | ||||||||||||||||||||||||||||||
Allowance as a percentage of nonaccrual loans, restructured loans and accruing loans contractually past due 90 days or more |
63.27 | % | 52.04 | % | 48.32 | % | 54.59 | % | 69.01 | % |
V. |
Deposits |
Fiscal years ended March 31, |
||||||||||||||||||||||||
2020 |
2021 |
|||||||||||||||||||||||
Average amount |
Average rate |
Average amount |
Average rate |
Average amount |
Average rate |
|||||||||||||||||||
(in millions, except percentages) |
||||||||||||||||||||||||
Domestic offices: |
||||||||||||||||||||||||
Non-interest-bearing demand deposits |
¥ | 24,429,358 | — | % | ¥ | 25,243,586 | — | % | ¥ | 29,531,551 | — | % | ||||||||||||
Interest-bearing demand deposits |
80,318,814 | 0.05 | 81,846,344 | 0.07 | 93,175,326 | 0.01 | ||||||||||||||||||
Deposits at notice |
1,658,467 | 0.01 | 1,413,584 | 0.00 | 1,575,097 | 0.00 | ||||||||||||||||||
Time deposits |
40,670,338 | 0.07 | 39,291,672 | 0.04 | 39,404,132 | 0.07 | ||||||||||||||||||
Certificates of deposit |
2,014,290 | 0.01 | 1,743,325 | 0.01 | 1,508,001 | 0.01 | ||||||||||||||||||
Foreign offices: |
||||||||||||||||||||||||
Non-interest-bearing demand deposits |
5,356,424 | — | 5,037,045 | — | 5,654,123 | — | ||||||||||||||||||
Interest-bearing deposits, principally time deposits and certificates of deposit |
41,945,626 | 1.55 | 45,216,271 | 1.68 | 47,092,772 | 0.62 | ||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||
Total |
¥ | 196,393,317 | ¥ | 199,791,827 | ¥ | 217,941,002 | ||||||||||||||||||
|
|
|
|
|
|
Time deposits |
Certificates of deposit |
Total |
||||||||||
(in millions) |
||||||||||||
Domestic offices: |
||||||||||||
Three months or less |
¥ | 6,575,184 | ¥ | 1,015,528 | ¥ | 7,590,712 | ||||||
Over three months through six months |
3,780,634 | 85,195 | 3,865,829 | |||||||||
Over six months through twelve months |
10,492,679 | 150,926 | 10,643,605 | |||||||||
Over twelve months |
3,064,780 | 55,000 | 3,119,780 | |||||||||
|
|
|
|
|
|
|||||||
Total |
¥ | 23,913,277 | ¥ | 1,306,649 | ¥ | 25,219,926 | ||||||
|
|
|
|
|
|
|||||||
Foreign offices |
¥ | 23,673,512 | ||||||||||
|
|
VI |
Short-Term Borrowings |
Fiscal years ended March 31, |
||||||||||||
2020 |
2021 |
|||||||||||
(in millions, except percentages) |
||||||||||||
Call money, funds purchased, and payables under repurchase agreements and securities lending transactions: |
||||||||||||
Average balance outstanding during the fiscal year |
¥ | 26,406,493 | ¥ | 27,747,633 | ¥ | 29,085,579 | ||||||
Maximum balance outstanding at any month-end during the fiscal year |
31,395,497 | 36,535,711 | 33,435,910 | |||||||||
Balance at end of fiscal year |
28,588,039 | 36,535,711 | 27,764,363 | |||||||||
Weighted average interest rate during the fiscal year |
1.28 | % | 1.30 | % | 0.32 | % | ||||||
Weighted average interest rate on balance at end of fiscal year |
1.13 | % | 0.72 | % | 0.18 | % | ||||||
Due to trust account and other short-term borrowings: |
||||||||||||
Average balance outstanding during the fiscal year |
¥ | 9,875,361 | ¥ | 9,883,337 | ¥ | 16,586,236 | ||||||
Maximum balance outstanding at any month-end during the fiscal year |
10,821,354 | 19,433,229 | 21,237,645 | |||||||||
Balance at end of fiscal year |
9,467,025 | 19,433,229 | 18,079,554 | |||||||||
Weighted average interest rate during the fiscal year |
1.25 | % | 1.34 | % | 0.24 | % | ||||||
Weighted average interest rate on balance at end of fiscal year |
1.40 | % | 0.55 | % | 0.05 | % |
• | We tested the effectiveness of controls, including the review and approval of certain key macroeconomic variables, and the review and approval of relative weightings. |
• | We tested the effectiveness of controls over the completeness and accuracy of the information used in performing the aforementioned controls. |
• | With the assistance of our credit specialists, we evaluated the reasonableness of certain key macroeconomic variables, such as unemployment rate and gross domestic product, and the reasonableness of the relative weightings by comparing to macroeconomic forecasts from available external sources. |
• | We tested the effectiveness of controls, including the review and approval of the quantitative models and methodology, and the review and approval of certain qualitative adjustments to modeled results. |
• | We tested the effectiveness of controls over the completeness and accuracy of the information used in performing the aforementioned controls. |
• | With the assistance of our credit specialists, we evaluated the appropriateness of the quantitative models and methodology by assessing the conceptual soundness and model performance by inspecting model documentation as well as reperforming model performance testing to determine whether the models operated as intended. |
• | With the assistance of credit specialists, we evaluated the reasonableness of the use of qualitative adjustments to modeled results and tested significant judgments applied by management by comparing management’s results to available relevant external information. |
• | We tested the effectiveness of controls, including the review and approval of the borrowers’ internal credit ratings. |
• | We tested the effectiveness of controls over the completeness and accuracy of the information used in performing the aforementioned controls, including the borrowers’ underlying information. |
• | With the assistance of our credit specialists, we tested significant judgments applied by management to determine the internal credit ratings and the appropriateness of the borrowers’ underlying information by comparing them with available relevant external information. |
• | We tested the effectiveness of controls, including the review and approval of the projected future operating cash flows supporting the forecasted future income in the income approach, including controls over the assumptions used to estimate the projected future operating cash flows. |
• | We tested the effectiveness of controls over the completeness and accuracy of the key underlying data used in performing the aforementioned controls. |
• | We evaluated the reasonableness of management’s projected future operating cash flows based on forecasted future income by inquiring of management, performing a retrospective review, and inspecting financial trends and metrics. |
• | We considered the impact of changes in macroeconomic and company specific factors on management’s forecasts. |
• | With the assistance of our fair value specialists, we evaluated the reasonableness of management’s assumptions, inputs and projected future operating cash flows used to determine the fair value for these business units. |
(in millions) |
2020 |
2021 |
||||||
ASSETS |
||||||||
Cash and due from banks (Note 9) |
¥ | i 33,283,032 | ¥ | i 49,977,480 | ||||
Interest-earning deposits in other banks (Note 9) |
i 45,266,680 | i 53,346,721 | ||||||
|
|
|
|
|||||
Cash, due from banks and interest-earning deposits in other banks |
i 78,549,712 | i 103,324,201 | ||||||
|
|
|
|
|||||
Call loans and funds sold |
i 1,168,515 | i 1,256,075 | ||||||
Receivables under resale agreements (Note 15) |
i 23,995,961 | i 13,779,763 | ||||||
Receivables under securities borrowing transactions (Note 15) |
i 3,443,959 | i 3,369,903 | ||||||
Trading account assets (including assets pledged that secured parties are permitted to sell or repledge of ¥ i 6,709,467 and ¥ i 5,032,178
in 2020 and 2021) (including ¥ i 20,964,024 and ¥ i 18,231,238 measured at fair value under the fair value option in 2020 and
2021) (Notes 9, 15, 23 and 31) |
i 47,504,058 | i 44,444,379 | ||||||
Investment securities (Notes 3, 9 and 31): |
||||||||
Available-for-sale |
i 34,200,203 | i 47,117,813 | ||||||
Held-to-maturity |
i 4,165,781 | i 3,903,763 | ||||||
Equity securities (including assets pledged that secured parties are permitted to sell or repledge of ¥ i 616 and ¥ i 1,532
in 2020 and 2021) (including ¥ i 4,850,376 and ¥ i 5,866,846 in 2020 and 2021 measured at fair value) |
i 5,385,258 | i 6,222,920 | ||||||
|
|
|
|
|||||
Total investment securities |
i 43,751,242 | i 57,244,496 | ||||||
|
|
|
|
|||||
Loans, net of unearned income, unamortized premiums and deferred loan fees (including assets pledged that secured parties are permitted to sell or repledge of ¥ i 648,437 and ¥ i 204,488 in 2020 and
2021) (Notes 4 and 9) |
i 118,186,739 | i 115,718,863 | ||||||
Allowance for credit losses (Note 4) (1) |
( i 809,540 | ) | ( i 1,348,391 | ) | ||||
|
|
|
|
|||||
Net loans |
i 117,377,199 | i 114,370,472 | ||||||
|
|
|
|
|||||
Premises and equipment—net ( Notes 5 and 7 ) |
i 929,529 | i 874,992 | ||||||
Customers’ acceptance liability |
i 167,257 | i 283,194 | ||||||
Intangible assets—net (Notes 2 and 6) |
i 1,239,526 | i 1,184,994 | ||||||
Goodwill (Notes 2 and 6) |
i 517,626 | i 370,852 | ||||||
Other assets (net of allowance for credit losses of ¥ i 14,741 at March 31, 2021) (Notes 7, 8, 9, 13, 14 and 31) |
i 13,108,699 | i 13,321,304 | ||||||
|
|
|
|
|||||
Total assets |
¥ | i 331,753,283 | ¥ | i 353,824,625 | ||||
|
|
|
|
|||||
Assets of consolidated VIEs included in total assets above that can be used only to settle obligations of consolidated VIEs |
||||||||
Cash and due from banks |
¥ | i 846 | ¥ | i 2,698 | ||||
Interest-earning deposits in other banks |
i 30,047 | i 30,422 | ||||||
Trading account assets |
i 695,069 | i 959,001 | ||||||
Investment securities |
i 1,804,459 | i 1,727,292 | ||||||
Loans |
i 16,072,595 | i 15,247,928 | ||||||
All other assets |
i 244,645 | i 161,075 | ||||||
|
|
|
|
|||||
Total assets of consolidated VIEs |
¥ | i 18,847,661 | ¥ | i 18,128,416 | ||||
|
|
|
|
(in millions, except shares) |
2020 |
2021 |
||||||
LIABILITIES AND EQUITY |
||||||||
Deposits (Notes 9 and 10): |
||||||||
Domestic offices: |
||||||||
Non-interest-bearing |
¥ | i 28,091,421 | ¥ | i 32,287,997 | ||||
Interest-bearing |
i 126,485,629 | i 141,908,498 | ||||||
Overseas offices: |
||||||||
Non-interest-bearing |
i 5,290,262 | i 6,233,108 | ||||||
Interest-bearing |
i 44,087,216 | i 48,777,333 | ||||||
|
|
|
|
|||||
Total deposits |
i 203,954,528 | i 229,206,936 | ||||||
|
|
|
|
|||||
Call money and funds purchased (Notes 9 and 11) |
i 3,668,922 | i 2,353,830 | ||||||
Payables under repurchase agreements (Notes 9, 15 and 16) |
i 31,849,915 | i 24,567,943 | ||||||
Payables under securities lending transactions (Notes 9, 15 and 16) |
i 1,016,874 | i 842,590 | ||||||
Due to trust account and other short-term borrowings (including ¥ i 377,133 and ¥ i 196,113
measured at fair value under the fair value option in 2020 and 2021) (Notes 9, 12 and 31) |
i 19,433,229 | i 18,079,554 | ||||||
Trading account liabilities (Notes 15, 23 and 31) |
i 14,767,433 | i 12,017,553 | ||||||
Bank acceptances outstanding |
i 167,257 | i 283,194 | ||||||
Long-term debt (including ¥ i 304,067 and ¥ i 402,823 measured at fair value under the fair value option in
2020 and 2021) (Notes 7, 9, 12 and 31) |
i 27,926,763 | i 35,157,651 | ||||||
Other liabilities (Notes 1, 7, 8, 9, 13, 14, 15, 16, 26 and 31) |
i 13,223,846 | i 15,070,820 | ||||||
|
|
|
|
|||||
Total liabilities |
i 316,008,767 | i 337,580,071 | ||||||
|
|
|
|
|||||
Commitments and contingent liabilities (Notes 24 and 26) |
i | i | ||||||
Mitsubishi UFJ Financial Group shareholders’ equity: |
||||||||
Capital stock (Notes 17 and 18)—common stock authorized, i i 33,000,000,000 /
shares; common stock issued, i 13,581,995,120 shares and i 13,581,995,120 shares at March 31, 2020 and 2021, with i i no /
stated value |
i 2,090,270 | i 2,090,270 | ||||||
Capital surplus (Note 18) |
i 5,533,520 | i 5,533,761 | ||||||
Retained earnings (Notes 19 and 33): |
||||||||
Appropriated for legal reserve |
i 239,571 | i 239,571 | ||||||
Unappropriated retained earnings |
i 8,079,530 | i 8,589,900 | ||||||
Accumulated other comprehensive income, net of taxes (Note 20) |
( i 420,417 | ) | ( i 289,481 | ) | ||||
Treasury stock, at cost— i 741,772,308 common shares and i 737,282,154 common shares at March 31, 2020 and 2021 |
( i 505,987 | ) | ( i 503,072 | ) | ||||
|
|
|
|
|||||
Total Mitsubishi UFJ Financial Group shareholders’ equity |
i 15,016,487 | i 15,660,949 | ||||||
Noncontrolling interests |
i 728,029 | i 583,605 | ||||||
|
|
|
|
|||||
Total equity |
i 15,744,516 | i 16,244,554 | ||||||
|
|
|
|
|||||
Total liabilities and equity |
¥ | i 331,753,283 | ¥ | i 353,824,625 | ||||
|
|
|
|
|||||
Liabilities of consolidated VIEs for which creditors or beneficial interest holders do not have recourse to the general credit of Mitsubishi UFJ Financial Group |
||||||||
Other short-term borrowings |
¥ | i 30,831 | ¥ | i 33,599 | ||||
Long-term debt |
i 465,352 | i 457,763 | ||||||
All other liabilities |
i 101,969 | i 103,457 | ||||||
|
|
|
|
|||||
Total liabilities of consolidated VIEs |
¥ | i 598,152 | ¥ | i 594,819 | ||||
|
|
|
|
(in millions) |
2019 |
2020 |
2021 |
|||||||||
Interest income: |
||||||||||||
Loans, including fees (Note 4) |
¥ | i 2,576,417 | ¥ | i 2,597,932 | ¥ | i 1,940,754 | ||||||
Deposits in other banks |
i 183,327 | i 167,267 | i 56,555 | |||||||||
Investment securities: |
||||||||||||
Interest |
i 237,378 | i 242,123 | i 178,873 | |||||||||
Dividends |
i 160,825 | i 172,382 | i 119,387 | |||||||||
Trading account assets |
i 499,724 | i 489,842 | i 373,200 | |||||||||
Call loans and funds sold |
i 10,354 | i 11,286 | i 4,721 | |||||||||
Receivables under resale agreements and securities borrowing transactions |
i 145,354 | i 246,311 | i 78,506 | |||||||||
|
|
|
|
|
|
|||||||
Total |
i 3,813,379 | i 3,927,143 | i 2,751,996 | |||||||||
|
|
|
|
|
|
|||||||
Interest expense: |
||||||||||||
Deposits |
i 717,366 | i 836,081 | i 329,392 | |||||||||
Call money and funds purchased |
i 3,913 | i 3,270 | i 1,105 | |||||||||
Payables under repurchase agreements and securities lending transactions |
i 333,632 | i 357,382 | i 91,508 | |||||||||
Due to trust account, other short-term borrowings and trading account liabilities |
i 155,273 | i 164,907 | i 72,403 | |||||||||
Long-term debt |
i 307,797 | i 322,704 | i 253,494 | |||||||||
|
|
|
|
|
|
|||||||
Total |
i 1,517,981 | i 1,684,344 | i 747,902 | |||||||||
|
|
|
|
|
|
|||||||
Net interest income |
i 2,295,398 | i 2,242,799 | i 2,004,094 | |||||||||
Provision for credit losses |
i 34,330 | i 321,713 | i 484,210 | |||||||||
|
|
|
|
|
|
|||||||
Net interest income after provision for credit losses |
i 2,261,068 | i 1,921,086 | i 1,519,884 | |||||||||
|
|
|
|
|
|
|||||||
Non-interest income: |
||||||||||||
Fees and commissions income (Note 27) |
i 1,438,578 | i 1,502,052 | i 1,527,283 | |||||||||
Foreign exchange gains (losses)—net (Note 28) |
( i 95,987 | ) | ( i 281,790 | ) | i 99,337 | |||||||
Trading account profits (losses)—net (Notes 28 and 31) |
i 168,900 | i 765,373 | ( i 410,368 | ) | ||||||||
Investment securities gains (losses)—net (Note 3) |
( i 252,307 | ) | ( i 532,248 | ) | i 1,458,264 | |||||||
Equity in earnings of equity method investees—net (Note 14) |
i 209,732 | i 282,712 | i 355,730 | |||||||||
Gains on sales of loans (Note 4) |
i 22,663 | i 9,956 | i 17,926 | |||||||||
Gain on remeasurement of previously held equity method investment (Note 2) |
— | i 41,218 | — | |||||||||
Other non-interest income |
i 103,665 | i 88,422 | i 109,615 | |||||||||
|
|
|
|
|
|
|||||||
Total |
i 1,595,244 | i 1,875,695 | i 3,157,787 | |||||||||
|
|
|
|
|
|
|||||||
Non-interest expense: |
||||||||||||
Salaries and employee benefits (Note 13) |
i 1,175,405 | i 1,242,563 | i 1,253,461 | |||||||||
Occupancy expenses—net (Notes 5 and 26) |
i 179,780 | i 182,917 | i 178,107 | |||||||||
Fees and commissions expenses |
i 313,745 | i 332,033 | i 318,797 | |||||||||
Outsourcing expenses, including data processing |
i 275,052 | i 303,632 | i 298,777 | |||||||||
Depreciation of premises and equipment (Note 5) |
i 98,867 | i 113,489 | i 87,305 | |||||||||
Amortization of intangible assets (Note 6) |
i 235,083 | i 237,328 | i 250,106 | |||||||||
Impairment of intangible assets (Note 6) |
i 118,108 | i 3,732 | i 21,680 | |||||||||
Insurance premiums, including deposit insurance |
i 93,756 | i 98,441 | i 90,529 | |||||||||
Communications |
i 59,166 | i 59,976 | i 59,798 | |||||||||
Taxes and public charges |
i 95,358 | i 100,198 | i 97,783 | |||||||||
Impairment of goodwill (Note 6) |
— | i 383,810 | i 147,564 | |||||||||
Provision for (reversal of) off-balance sheet credit instruments |
i 38,463 | ( i 62,279 | ) | ( i 56,749 | ) | |||||||
Other non-interest expenses (Notes 5 and 26) |
i 302,687 | i 367,721 | i 322,171 | |||||||||
|
|
|
|
|
|
|||||||
Total |
i 2,985,470 | i 3,363,561 | i 3,069,329 | |||||||||
|
|
|
|
|
|
(in millions, except per share amount) |
2019 |
2020 |
2021 |
|||||||||
Income before income tax expense |
i 870,842 | i 433,220 | i 1,608,342 | |||||||||
Income tax expense |
i 133,237 | i 114,505 | i 444,948 | |||||||||
|
|
|
|
|
|
|||||||
Net income before attribution of noncontrolling interests |
i 737,605 | i 318,715 | i 1,163,394 | |||||||||
Net income attributable to noncontrolling interests |
i 18,960 | i 12,760 | i 46,096 | |||||||||
|
|
|
|
|
|
|||||||
Net income attributable to Mitsubishi UFJ Financial Group |
¥ | i 718,645 | ¥ | i 305,955 | ¥ | i 1,117,298 | ||||||
|
|
|
|
|
|
|||||||
Earnings applicable to common shareholders of Mitsubishi UFJ Financial Group |
¥ | i 718,645 | ¥ | i 305,955 | ¥ | i 1,117,298 | ||||||
|
|
|
|
|
|
|||||||
Earnings per common share applicable to common shareholders of Mitsubishi UFJ Financial Group |
||||||||||||
Basic earnings per common share—Earnings applicable to common shareholders of Mitsubishi UFJ Financial Group |
¥ | i 55.03 | ¥ | i 23.69 | ¥ | i 86.88 | ||||||
Diluted earnings per common share—Earnings applicable to common shareholders of Mitsubishi UFJ Financial Group |
i 54.74 | i 23.47 | i 86.56 | |||||||||
Cash dividend per common share |
i 21.00 | i 23.50 | i 25.00 | |||||||||
Weighted average common shares outstanding |
i 13,059 | i 12,913 | i 12,860 | |||||||||
Weighted average diluted common shares outstanding |
i 13,059 | i 12,913 | i 12,860 |
(1) | New guidance on measurement of credit losses on financial instruments requires the allowance for credit losses to be measured using the current expected credit losses model from April 1, 2020. For additional information, refer to Note 1 |
(in millions) |
2019 |
2020 |
2021 |
|||||||||
Net income before attribution of noncontrolling interests |
¥ | i 737,605 | ¥ | i 318,715 | ¥ | i 1,163,394 | ||||||
Other comprehensive income (loss), net of tax |
||||||||||||
Net unrealized gains (losses) on investment securities |
i 88,180 | i 23,619 | ( i 70,776 | ) | ||||||||
Net debt valuation adjustments |
i 9,729 | i 54,172 | ( i 83,364 | ) | ||||||||
Net unrealized gains (losses) on derivatives qualifying for cash flow hedges |
( i 4,890 | ) | i 10,642 | i 32,175 | ||||||||
Defined benefit plans (Note 13) |
( i 88,940 | ) | ( i 131,523 | ) | i 319,056 | |||||||
Foreign currency translation adjustments |
( i 42,212 | ) | ( i 81,065 | ) | ( i 115,251 | ) | ||||||
|
|
|
|
|
|
|||||||
Total |
( i 38,133 | ) | ( i 124,155 | ) | i 81,840 | |||||||
|
|
|
|
|
|
|||||||
Comprehensive income |
i 699,472 | i 194,560 | i 1,245,234 | |||||||||
Net income attributable to noncontrolling interests |
i 18,960 | i 12,760 | i 46,096 | |||||||||
Other comprehensive income (loss) attributable to noncontrolling interests |
i 21,209 | i 11,993 | ( i 49,062 | ) | ||||||||
|
|
|
|
|
|
|||||||
Comprehensive income attributable to Mitsubishi UFJ Financial Group |
¥ | i 659,303 | ¥ | i 169,807 | ¥ | i 1,248,200 | ||||||
|
|
|
|
|
|
(in millions, except per share amount) |
2019 |
2020 |
2021 |
|||||||||
Capital stock |
||||||||||||
Balance at beginning of fiscal year |
¥ |
i 2,090,270 |
¥ |
i 2,090,270 |
¥ |
i 2,090,270 |
||||||
|
|
|
|
|
|
|||||||
Balance at end of fiscal year |
¥ |
i 2,090,270 |
¥ |
i 2,090,270 |
¥ |
i 2,090,270 |
||||||
|
|
|
|
|
|
|||||||
Capital surplus |
||||||||||||
Balance at beginning of fiscal year |
¥ |
i 5,740,165 |
¥ |
i 5,577,186 |
¥ |
i 5,533,520 |
||||||
Stock-based compensation |
( i 180 |
) |
i 2,596 |
i 2,762 |
||||||||
Retirement of common stock |
( i 162,720 |
) |
( i 58,626 |
) |
— |
|||||||
Other—net |
( i 79 |
) |
i 12,364 |
( i 2,521 |
) | |||||||
|
|
|
|
|
|
|||||||
Balance at end of fiscal year |
¥ |
i 5,577,186 |
¥ |
i 5,533,520 |
¥ |
i 5,533,761 |
||||||
|
|
|
|
|
|
|||||||
Retained earnings appropriated for legal reserve |
||||||||||||
Balance at beginning of fiscal year |
¥ |
i 239,571 |
¥ |
i 239,571 |
¥ |
i 239,571 |
||||||
|
|
|
|
|
|
|||||||
Balance at end of fiscal year |
¥ |
i 239,571 |
¥ |
i 239,571 |
¥ |
i 239,571 |
||||||
|
|
|
|
|
|
|||||||
Unappropriated retained earnings |
||||||||||||
Balance at beginning of fiscal year |
¥ |
i 4,945,733 |
¥ |
i 8,094,026 |
¥ |
i 8,079,530 |
||||||
Net income attributable to Mitsubishi UFJ Financial Group |
i 718,645 |
i 305,955 |
i 1,117,298 |
|||||||||
Cash dividends: |
||||||||||||
Common stock—¥ i 21.00 per share in 2019, ¥ i 23.50
per share in 2020, and ¥ i 25.00 |
( i 275,551 |
) |
( i 303,742 |
) |
( i 321,089 |
) | ||||||
Losses on sales of shares of treasury stock |
— |
( i 1 |
) |
( i 1 |
) | |||||||
Effect of adopting new guidance by a foreign affiliated company |
i 1,173 |
(1) |
( i 1,825 |
) (2) |
— |
|||||||
Effect of adopting new guidance on recognition and measurement of financial assets and financial liabilities |
i 2,702,242 |
— |
— |
|||||||||
Effect of adopting new guidance on recognition of breakage for certain prepaid stored-value products |
i 1,784 |
— |
— |
|||||||||
Effect of adopting new guidance on leases |
— |
( i 14,883 |
) |
— |
||||||||
Effect of adopting new guidance on measurement of credit losses on financial instruments (Note 1) |
— |
— |
( i 285,838 |
) | ||||||||
|
|
|
|
|
|
|||||||
Balance at end of fiscal year |
¥ |
i 8,094,026 |
¥ |
i 8,079,530 |
¥ |
i 8,589,900 |
||||||
|
|
|
|
|
|
(in millions) |
2019 |
2020 |
2021 |
|||||||||
Accumulated other comprehensive income (loss), net of taxes: |
||||||||||||
Balance at beginning of fiscal year |
¥ |
i 2,477,315 |
¥ |
( i 284,269 |
) |
¥ |
( i 420,417 |
) | ||||
Net change during the fiscal year |
( i 59,342 |
) |
( i 136,148 |
) |
i 130,902 |
|||||||
Effect of adopting new guidance on recognition and measurement of financial assets and financial liabilities (Note 1) |
( i 2,702,242 |
) |
— |
— |
||||||||
Effect of adopting new guidance on measurement of credit losses on financial instruments (Note 1) |
|
|
— |
|
|
|
— |
|
|
|
i 34 |
|
|
|
|
|
|
|
|||||||
Balance at end of fiscal year |
¥ |
( i 284,269 |
) |
¥ |
( i 420,417 |
) |
¥ |
( i 289,481 |
) | |||
|
|
|
|
|
|
|||||||
Treasury stock, at cost: |
||||||||||||
Balance at beginning of fiscal year |
¥ |
( i 522,872 |
) |
¥ |
( i 517,236 |
) |
¥ |
( i 505,987 |
) | |||
Purchases of shares of treasury stock (Note 18) |
( i 161,043 |
) |
( i 50,028 |
) |
( i 20 |
) | ||||||
Sales of shares of treasury stock |
i 3,775 |
i 2,635 |
i 2,598 |
|||||||||
Retirement of common stock |
i 162,720 |
i 58,626 |
— |
|||||||||
Net decrease resulting from changes in interests in consolidated subsidiaries, consolidated VIEs, and affiliated companies |
i 184 |
i 16 |
i 337 |
|||||||||
|
|
|
|
|
|
|||||||
Balance at end of fiscal year |
¥ |
( i 517,236 |
) |
¥ |
( i 505,987 |
) |
¥ |
( i 503,072 |
) | |||
|
|
|
|
|
|
|||||||
Total Mitsubishi UFJ Financial Group shareholders’ equity |
¥ |
i 15,199,548 |
¥ |
i 15,016,487 |
¥ |
i 15,660,949 |
||||||
|
|
|
|
|
|
|||||||
Noncontrolling interests: |
||||||||||||
Balance at beginning of fiscal year |
¥ |
i 675,633 |
¥ |
i 785,200 |
¥ |
i 728,029 |
||||||
Initial subscriptions of noncontrolling interests |
i 108,235 |
i 58,228 |
i 9,246 |
|||||||||
Transactions between the consolidated subsidiaries and the related noncontrolling interest shareholders |
( i 2,830 |
) |
( i 8,627 |
) |
( i 96,335 |
) | ||||||
Decrease in noncontrolling interests related to deconsolidation of subsidiaries |
( i 20,497 |
) |
( i 119,797 |
) |
( i 22,430 |
) | ||||||
Decrease in noncontrolling interests related to disposition of subsidiaries |
— |
( i 3,488 |
) |
( i 23 |
) | |||||||
Net income attributable to noncontrolling interests |
i 18,960 |
i 12,760 |
i 46,096 |
|||||||||
Dividends paid to noncontrolling interests |
( i 15,853 |
) |
( i 8,487 |
) |
( i 6,523 |
) | ||||||
Other comprehensive income (loss), net of taxes |
i 21,209 |
i 11,993 |
( i 49,062 |
) | ||||||||
Effect of adopting new guidance on measurement of credit losses on financial instruments (Note 1) |
— |
— |
( i 25,330 |
) | ||||||||
Other—net |
i 343 |
i 247 |
( i 63 |
) | ||||||||
|
|
|
|
|
|
|||||||
Balance at end of fiscal year |
¥ |
i 785,200 |
¥ |
i 728,029 |
¥ |
i 583,605 |
||||||
|
|
|
|
|
|
|||||||
Total equity |
¥ |
i 15,984,748 |
¥ |
i 15,744,516 |
¥ |
i 16,244,554 |
||||||
|
|
|
|
|
|
(1) | The effect resulted from the adoption of new accounting guidance on “Leases”. |
(2) | The effect resulted from the adoption of new accounting guidance on “Measurement of Credit Losses on Financial Instruments”. |
(in millions) |
2019 |
2020 |
2021 |
|||||||||
Cash flows from operating activities: |
||||||||||||
Net income before attribution of noncontrolling interests |
¥ | i 737,605 | ¥ | i 318,715 | ¥ | i 1,163,394 | ||||||
Adjustments to reconcile net income before attribution of noncontrolling interests to net cash provided by operating activities: |
||||||||||||
Depreciation and amortization (Notes 5 and 6) |
i 333,950 | i 350,817 | i 337,411 | |||||||||
Impairment of goodwill (Note 6) |
— | i 383,810 | i 147,564 | |||||||||
Impairment of intangible assets (Note 6) |
i 118,108 | i 3,732 | i 21,680 | |||||||||
Provision for credit losses (Note 4) |
i 34,330 | i 321,713 | i 484,210 | |||||||||
Employee benefit cost (income) for severance indemnities and pension plans (Note 13) |
( i 19,839 | ) | ( i 6,917 | ) | i 2,804 | |||||||
Investment securities (gains) losses—net |
i 252,307 | i 532,248 | ( i 1,458,264 | ) | ||||||||
Amortization of premiums on investment securities |
i 78,509 | i 65,078 | i 59,614 | |||||||||
Changes in financial instruments measured at fair value under fair value option, excluding trading account securities—net (Note 31) |
i 13,880 | i 2,894 | i 5,002 | |||||||||
Foreign exchange (gains) losses—net |
i 565,304 | i 544,763 | ( i 103,917 | ) | ||||||||
Equity in earnings of equity method investees—net |
( i 209,732 | ) | ( i 282,712 | ) | ( i 355,730 | ) | ||||||
Provision (benefit) for deferred income tax expense |
( i 47,796 | ) | ( i 60,967 | ) | i 266,273 | |||||||
Decrease (increase) in trading account assets, excluding foreign exchange contracts |
( i 2,695,035 | ) | ( i 4,902,492 | ) | i 1,351,570 | |||||||
Increase (decrease) in trading account liabilities, excluding foreign exchange contracts |
i 1,370,846 | i 2,217,808 | ( i 1,463,152 | ) | ||||||||
Net increase in collateral for derivative transactions |
( i 79,338 | ) | ( i 217,864 | ) | ( i 421,781 | ) | ||||||
Net decrease (increase) in margin for listed derivative transactions |
( i 87,075 | ) | ( i 279,844 | ) | i 20,984 | |||||||
Increase in cash collateral for the use of the Bank of Japan’s settlement infrastructure |
( i 60,462 | ) | ( i 54,018 | ) | ( i 33,292 | ) | ||||||
Other—net |
( i 77,228 | ) | ( i 292,664 | ) | ( i 269,437 | ) | ||||||
|
|
|
|
|
|
|||||||
Net cash provided by (used in) operating activities |
i 228,334 | ( i 1,355,900 | ) | ( i 245,067 | ) | |||||||
|
|
|
|
|
|
|||||||
Cash flows from investing activities: |
||||||||||||
Proceeds from sales of Available-for-sale |
i 31,283,601 | i 60,731,107 | i 62,660,266 | |||||||||
Proceeds from maturities of Available-for-sale |
i 26,448,801 | i 24,335,639 | i 43,245,884 | |||||||||
Purchases of Available-for-sale |
( i 62,309,072 | ) | ( i 87,618,074 | ) | ( i 115,383,753 | ) | ||||||
Proceeds from maturities of Held-to-maturity |
i 560,646 | i 708,068 | i 605,781 | |||||||||
Purchases of Held-to-maturity |
( i 1,192,989 | ) | ( i 495,346 | ) | ( i 382,159 | ) | ||||||
Proceeds from sales and redemption of Equity securities (including proceeds from equity securities under the fair value option) |
i 2,722,948 | i 3,871,908 | i 1,903,784 | |||||||||
Purchases of Equity securities (including purchases of equity securities under the fair value option) |
( i 2,770,356 | ) | ( i 3,129,666 | ) | ( i 1,561,344 | ) | ||||||
Purchase of common stock in Bank Danamon, an equity method investee of BK (Note 2) |
( i 132,335 | ) | — | — | ||||||||
Acquisition of Bank Danamon, a subsidiary of BK, net of cash acquired (Note 2) |
— | ( i 243,597 | ) | — | ||||||||
Acquisition of FSI (formerly, Colonial First State Global Asset Management), subsidiaries of TB, net of cash acquired (Note 2) |
— | ( i 249,615 | ) | — | ||||||||
Acquisition of DVB Bank’s Aviation Finance Division, net of cash acquired (Note 2) |
— | ( i 555,250 | ) | — | ||||||||
Net decrease (increase) in loans |
i 330,198 | ( i 1,631,085 | ) | i 2,939,996 | ||||||||
Net decrease (increase) in call loans, funds sold, and receivables under resale agreements and securities borrowing transactions |
i 627,327 | ( i 13,714,288 | ) | i 9,833,348 | ||||||||
Proceeds from sales of premises and equipment |
i 26,191 | i 64,400 | i 41,472 | |||||||||
Capital expenditures for premises and equipment |
( i 126,479 | ) | ( i 123,804 | ) | ( i 116,707 | ) | ||||||
Purchases of intangible assets |
( i 276,880 | ) | ( i 308,081 | ) | ( i 250,061 | ) | ||||||
Proceeds from sales and dispositions of investments in equity method investees |
i 161,566 | i 171,882 | i 64,011 | |||||||||
Proceeds from sales of consolidated VIEs and subsidiaries—net |
i 64,395 | i 168,970 | i 71,643 | |||||||||
Other—net |
( i 49,590 | ) | ( i 68,611 | ) | ( i 14,802 | ) | ||||||
|
|
|
|
|
|
|||||||
Net cash provided by (used in) investing activities |
( i 4,632,028 | ) | ( i 18,085,443 | ) | i 3,657,359 | |||||||
|
|
|
|
|
|
(in millions) |
2019 |
2020 |
2021 |
|||||||||
Cash flows from financing activities: |
||||||||||||
Net increase in deposits |
i 3,602,674 | i 5,746,624 | i 23,428,386 | |||||||||
Net increase (decrease) in call money, funds purchased, and payables under repurchase agreements and securities lending transactions |
( i 303,042 | ) | i 8,077,351 | ( i 8,523,347 | ) | |||||||
Net increase (decrease) in due to trust account and other short-term borrowings |
( i 768,649 | ) | i 9,944,171 | ( i 939,069 | ) | |||||||
Proceeds from issuance of long-term debt |
i 5,020,636 | i 4,999,531 | i 18,707,004 | |||||||||
Repayments of long-term debt |
( i 4,236,887 | ) | ( i 4,983,073 | ) | ( i 11,360,120 | ) | ||||||
Proceeds from sales of treasury stock |
i 2,322 | i 1,235 | i 899 | |||||||||
Payments for acquisition of treasury stock (Note 18) |
( i 159,962 | ) | ( i 50,028 | ) | ( i 20 | ) | ||||||
Dividends paid |
( i 275,581 | ) | ( i 303,728 | ) | ( i 321,024 | ) | ||||||
Dividends paid by subsidiaries to noncontrolling interests |
( i 15,853 | ) | ( i 8,487 | ) | ( i 6,523 | ) | ||||||
Other—net |
i 197,673 | i 358,922 | ( i 22,566 | ) | ||||||||
|
|
|
|
|
|
|||||||
Net cash provided by financing activities |
i 3,063,331 | i 23,782,518 | i 20,963,620 | |||||||||
|
|
|
|
|
|
|||||||
Effect of exchange rate changes on cash and cash equivalents |
i 43,975 | ( i 362,652 | ) | i 397,287 | ||||||||
|
|
|
|
|
|
|||||||
Net increase (decrease) in cash and cash equivalents |
( i 1,296,388 | ) | i 3,978,523 | i 24,773,199 | ||||||||
|
|
|
|
|
|
|||||||
Cash and cash equivalents at beginning of fiscal year |
i 75,873,456 | i 74,577,068 | i 78,555,591 | |||||||||
Cash and cash equivalents: |
||||||||||||
Cash, due from banks and interest-earning deposits in other banks |
i 74,571,260 | i 78,549,712 | i 103,324,201 | |||||||||
Restricted cash included in other assets |
i 5,808 | i 5,879 | i 4,589 | |||||||||
|
|
|
|
|
|
|||||||
Cash and cash equivalents at end of fiscal year |
¥ | i 74,577,068 | ¥ | i 78,555,591 | ¥ | i 103,328,790 | ||||||
|
|
|
|
|
|
|||||||
Supplemental disclosure of cash flow information: |
||||||||||||
Cash paid during the fiscal year for: |
||||||||||||
Interest |
¥ | i 1,488,136 | ¥ | i 1,759,239 | ¥ | i 879,917 | ||||||
Income taxes, net of refunds |
i 302,019 | i 128,124 | i 124,705 | |||||||||
Non-cash investing and financing activities: |
||||||||||||
Assets acquired under finance lease arrangements (Note 7) |
i 11,280 | i 12,754 | i 3,487 | |||||||||
Assets acquired under operating lease arrangements (Note 7) |
— | i 46,482 | i 50,564 | |||||||||
Available-for-sale Held-to-maturity |
i 221,537 | — | — | |||||||||
Marketable Equity Securities issued by Bank Danamon transferred to investments in subsidiaries and affiliates (Note 2) |
i 98,934 | — | — | |||||||||
Acquisition of Bank Danamon, a subsidiary of BK (Note 2): |
||||||||||||
Fair value of assets acquired, excluding cash and cash equivalents |
— | i 1,811,160 | — | |||||||||
Fair value of liabilities assumed |
— | i 1,242,115 | — | |||||||||
Fair value of noncontrolling interests |
— | i 51,314 | — | |||||||||
Acquisition of FSI (formerly, Colonial First State Global Asset Management), subsidiaries of TB (Note 2): |
||||||||||||
Fair value of assets acquired, excluding cash and cash equivalents |
— | i 332,914 | — | |||||||||
Fair value of liabilities assumed |
— | i 68,519 | — | |||||||||
Acquisition of DVB Bank’s Aviation Finance Division (Note 2): |
||||||||||||
Fair value of assets acquired |
— | i 572,487 | — | |||||||||
Fair value of liabilities assumed |
— | i 2,599 | — |
1. |
BASIS OF FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Years |
||||
Buildings |
i 15 to i 50 | |||
Equipment and furniture |
i 2 to i 20 | |||
Leasehold improvements |
i 2 to i 39 |
Useful lives (years) |
Amortization method | |||||
Software |
i 3 to i 10 | i Straight-line | ||||
Core deposit intangibles |
i 9 to i 16 | i Straight-line | ||||
Customer relationships |
i 3 to i 27 | i Straight-line, Declining-balance | ||||
Trade names |
i 4 to i 40 | i Straight-line |
2. |
BUSINESS DEVELOPMENTS |
(1) | Calculated based on the exchange rate of IDR1 = ¥ i 0.0084 |
(2) | Calculated based on the exchange rate of IDR1 = ¥ i 0.0077 |
(3) | Calculated based on the exchange rate of IDR1 = ¥ i i 0.0080 / |
(in millions) |
||||
Loans |
¥ | i 1,086,638 | ||
Intangible assets (1) |
i 146,899 | |||
Total assets |
i 1,728,480 | |||
Deposits—Total deposits |
i 915,075 | |||
Total liabilities |
i 1,242,115 |
(1) | Intangible assets with a weighted average amortization period of i 13.2 years primarily include ¥ i 79,552 million of relationships with agents with a weighted average amortization period of i 13.1 years and ¥ i 44,140 million of core deposit intangibles with a weighted average amortization period of i 10.1 years. |
(in millions) |
||||
Loans |
¥ | i 515,933 | ||
Total assets |
i 522,797 | |||
Total liabilities |
i 138 |
3. |
INVESTMENT SECURITIES |
At March 31, 2020: |
Amortized cost |
Gross unrealized gains |
Gross unrealized losses |
Fair value |
||||||||||||
(in millions) |
||||||||||||||||
Available-for-sale |
||||||||||||||||
Japanese national government and Japanese government agency bonds |
¥ | i 23,308,538 | ¥ | i 185,302 | ¥ | i 30,961 | ¥ | i 23,462,879 | ||||||||
Japanese prefectural and municipal bonds |
i 2,938,743 | i 16,279 | i 2,202 | i 2,952,820 | ||||||||||||
Foreign government and official institution bonds |
i 2,936,110 | i 107,406 | i 6,028 | i 3,037,488 | ||||||||||||
Corporate bonds |
i 1,261,586 | i 12,445 | i 1,205 | i 1,272,826 | ||||||||||||
Residential mortgage-backed securities |
i 1,460,641 | i 3,083 | i 4,331 | i 1,459,393 | ||||||||||||
Commercial mortgage-backed securities |
i 379,234 | i 6,110 | i 3,089 | i 382,255 | ||||||||||||
Asset-backed securities |
i 1,461,083 | i 9,516 | i 1,123 | i 1,469,476 | ||||||||||||
Other debt securities (1) |
i 161,832 | i 3,190 | i 1,956 | i 163,066 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
¥ | i 33,907,767 | ¥ | i 343,331 | ¥ | i 50,895 | ¥ | i 34,200,203 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Held-to-maturity |
||||||||||||||||
Japanese national government and Japanese government agency bonds |
¥ | i 1,100,574 | ¥ | i 29,856 | ¥ | i — | ¥ | i 1,130,430 | ||||||||
Foreign government and official institution bonds |
i 151,555 | i 243 | i 689 | i 151,109 | ||||||||||||
Residential mortgage-backed securities |
i 737,242 | i 10,478 | i 3,012 | (2) |
i 744,708 | |||||||||||
Commercial mortgage-backed securities |
i 146,039 | i 2,993 | i 317 | (2) |
i 148,715 | |||||||||||
Asset-backed securities |
i 2,030,371 | i 277 | i 27,716 | i 2,002,932 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
¥ | i 4,165,781 | ¥ | i 43,847 | ¥ | i 31,734 | ¥ | i 4,177,894 | ||||||||
|
|
|
|
|
|
|
|
(1) |
Other debt securities in the table above mainly include ¥ i 86,734 million of private placement debt conduit bonds. |
(2) |
MUFG Americas Holdings reclassified residential mortgage-backed securities and commercial mortgage-backed securities from Available-for-sale Held-to-maturity |
At March 31, 2021: |
Amortized cost |
Gross unrealized gains |
Gross unrealized losses |
Fair value |
||||||||||||
(in millions) |
||||||||||||||||
Available-for-sale |
||||||||||||||||
Japanese national government and Japanese government agency bonds |
¥ | i 35,166,245 | ¥ | i 147,844 | ¥ | i 40,878 | ¥ | i 35,273,211 | ||||||||
Japanese prefectural and municipal bonds |
i 3,719,205 | i 15,123 | i 2,815 | i 3,731,513 | ||||||||||||
Foreign government and official institution bonds |
i 2,854,037 | i 84,707 | i 11,781 | i 2,926,963 | ||||||||||||
Corporate bonds |
i 1,123,271 | i 11,400 | i 401 | i 1,134,270 | ||||||||||||
Residential mortgage-backed securities |
i 1,459,062 | i 9,119 | i 1,051 | i 1,467,130 | ||||||||||||
Commercial mortgage-backed securities |
i 435,975 | i 29,502 | i 912 | i 464,565 | ||||||||||||
Asset-backed securities |
i 1,373,450 | i 11,685 | i 650 | i 1,384,485 | ||||||||||||
Other debt securities |
i 168,528 | i 3,780 | i 730 | i 171,578 | ||||||||||||
Commercial paper |
i 564,072 | i 31 | i 5 | i 564,098 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
¥ | i 46,863,845 | ¥ | i 313,191 | ¥ | i 59,223 | ¥ | i 47,117,813 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Held-to-maturity |
||||||||||||||||
Japanese national government and Japanese government agency bonds |
¥ | i 1,100,447 | ¥ | i 23,033 | ¥ | i — | ¥ | i 1,123,480 | ||||||||
Foreign government and official institution bonds |
i 233,883 | i 2,262 | i 2,795 | i 233,350 | ||||||||||||
Residential mortgage-backed securities |
i 411,024 | i 18,590 | i — | (1) |
i 429,614 | |||||||||||
Commercial mortgage-backed securities |
i 111,750 | i 4,846 | i — | (1) |
i 116,596 | |||||||||||
Asset-backed securities |
i 2,046,659 | i 1,721 | i 12,277 | i 2,036,103 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
¥ | i 3,903,763 | ¥ | i 50,452 | ¥ | i 15,072 | ¥ | i 3,939,143 | ||||||||
|
|
|
|
|
|
|
|
(1) |
MUFG Americas Holdings reclassified residential mortgage-backed securities and commercial mortgage-backed securities from Available-for-sale Held-to-maturity |
Held-to-maturity securities |
Available-for-sale debt securities |
|||||||||||
Amortized cost |
Fair value |
Fair value |
||||||||||
(in millions) |
||||||||||||
Due in one year or less |
¥ | i 14,562 | ¥ | i 14,572 | ¥ | i 24,815,321 | ||||||
Due from one year to five years |
i 1,179,959 | i 1,205,257 | i 8,129,683 | |||||||||
Due from five years to ten years |
i 826,833 | i 827,481 | i 8,549,713 | |||||||||
Due after ten years |
i 1,882,409 | i 1,891,833 | i 5,623,096 | |||||||||
|
|
|
|
|
|
|||||||
Total |
¥ | i 3,903,763 | ¥ | i 3,939,143 | ¥ | i 47,117,813 | ||||||
|
|
|
|
|
|
Less than 12 months |
12 months or more |
Total |
||||||||||||||||||||||||||
At March 31, 2020: |
Fair value |
Gross unrealized losses |
Fair value |
Gross unrealized losses |
Fair value |
Gross unrealized losses |
Number of securities |
|||||||||||||||||||||
(in millions, except number of securities) |
||||||||||||||||||||||||||||
Available-for-sale |
||||||||||||||||||||||||||||
Japanese national government and Japanese government agency bonds |
¥ | i 11,781,600 | ¥ | i 30,961 | ¥ | i — | ¥ | i — | ¥ | i 11,781,600 | ¥ | i 30,961 | i 202 | |||||||||||||||
Japanese prefectural and municipal bonds |
i 935,540 | i 2,202 | i — | i — | i 935,540 | i 2,202 | i 340 | |||||||||||||||||||||
Foreign government and official institution bonds |
i 564,620 | i 5,481 | i 114,407 | i 547 | i 679,027 | i 6,028 | i 153 | |||||||||||||||||||||
Corporate bonds |
i 522,941 | i 1,191 | i 25,228 | i 14 | i 548,169 | i 1,205 | i 154 | |||||||||||||||||||||
Residential mortgage-backed securities |
i 114,057 | i 530 | i 388,064 | i 3,801 | i 502,121 | i 4,331 | i 402 | |||||||||||||||||||||
Commercial mortgage-backed securities |
i 182,887 | i 3,087 | i 1,304 | i 2 | i 184,191 | i 3,089 | i 39 | |||||||||||||||||||||
Asset-backed securities |
i 189,775 | i 503 | i 86,605 | i 620 | i 276,380 | i 1,123 | i 94 | |||||||||||||||||||||
Other debt securities |
i 53,070 | i 132 | i 30,657 | i 1,824 | i 83,727 | i 1,956 | i 24 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Total |
¥ | i 14,344,490 | ¥ | i 44,087 | ¥ | i 646,265 | ¥ | i 6,808 | ¥ | i 14,990,755 | ¥ | i 50,895 | i 1,408 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Held-to-maturity |
||||||||||||||||||||||||||||
Foreign government and official institution bonds |
¥ | i 55,746 | ¥ | i 689 | ¥ | i — | ¥ | i — | ¥ | i 55,746 | ¥ | i 689 | i 9 | |||||||||||||||
Residential mortgage-backed securities |
i 108,478 | i 1,033 | i 360,841 | i 1,979 | i 469,319 | i 3,012 | i 281 | |||||||||||||||||||||
Commercial mortgage-backed securities |
i 10,281 | i 32 | i 133,791 | i 285 | i 144,072 | i 317 | i 31 | |||||||||||||||||||||
Asset-backed securities |
i 637,201 | i 8,536 | i 1,259,720 | i 19,180 | i 1,896,921 | i 27,716 | i 77 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Total |
¥ | i 811,706 | ¥ | i 10,290 | ¥ | i 1,754,352 | ¥ | i 21,444 | ¥ | i 2,566,058 | ¥ | i 31,734 | i 398 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less than 12 months |
12 months or more |
Total |
||||||||||||||||||||||||||
At March 31, 2021: |
Fair value |
Gross unrealized losses |
Fair value |
Gross unrealized losses |
Fair value |
Gross unrealized losses |
Number of securities |
|||||||||||||||||||||
(in millions, except number of securities) |
||||||||||||||||||||||||||||
Available-for-sale |
||||||||||||||||||||||||||||
Japanese national government and Japanese government agency bonds |
¥ | i 12,098,437 | ¥ | i 31,055 | ¥ | i 429,235 | ¥ | i 9,823 | ¥ | i 12,527,672 | ¥ | i 40,878 | i 286 | |||||||||||||||
Japanese prefectural and municipal bonds |
i 870,007 | i 1,584 | i 276,172 | i 1,231 | i 1,146,179 | i 2,815 | i 405 | |||||||||||||||||||||
Foreign government and official institution bonds |
i 429,204 | i 11,768 | i 50,478 | i 13 | i 479,682 | i 11,781 | i 71 | |||||||||||||||||||||
Corporate bonds |
i 96,582 | i 166 | i 229,518 | i 235 | i 326,100 | i 401 | i 120 | |||||||||||||||||||||
Residential mortgage-backed securities |
i 378,351 | i 577 | i 139,214 | i 474 | i 517,565 | i 1,051 | i 218 | |||||||||||||||||||||
Commercial mortgage-backed securities |
i 36,633 | i 905 | i 2,616 | i 7 | i 39,249 | i 912 | i 21 | |||||||||||||||||||||
Asset-backed securities |
i 190,795 | i 394 | i 49,428 | i 256 | i 240,223 | i 650 | i 89 | |||||||||||||||||||||
Other debt securities |
i 22,812 | i 91 | i 22,388 | i 639 | i 45,200 | i 730 | i 17 | |||||||||||||||||||||
Commercial paper |
i 116,016 | i 5 | i — | i — | i 116,016 | i 5 | i 8 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Total |
¥ | i 14,238,837 | ¥ | i 46,545 | ¥ | i 1,199,049 | ¥ | i 12,678 | ¥ | i 15,437,886 | ¥ | i 59,223 | i 1,235 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fiscal years ended March 31, |
||||||||||||
2020 |
2021 |
|||||||||||
(in millions) |
||||||||||||
Net gains (losses) recognized during the period (1) |
¥ | ( i 278,746 | ) | ¥ | ( i 639,813 | ) | ¥ | i 1,467,763 | ||||
Less: |
||||||||||||
Net gains (losses) recognized during the period on equity securities sold during the period |
( i 3,303 | ) | ( i 37,541 | ) | i 47,775 | |||||||
|
|
|
|
|
|
|||||||
Net unrealized gains (losses) recognized during the reporting period still held at the reporting date |
¥ | ( i 275,443 | ) | ¥ | ( i 602,272 | ) | ¥ | i 1,419,988 | ||||
|
|
|
|
|
|
(1) | Included in Investment securities gains (losses)—net. |
2020 |
2021 |
|||||||
(in millions) |
||||||||
Measurement alternative balance |
¥ | i 534,882 | ¥ | i 356,074 |
Fiscal years ended March 31, |
||||||||||||
2020 |
2021 |
|||||||||||
(in millions) |
||||||||||||
Measurement alternative impairment losses (1)(4) |
¥ | ( i 2,292 | ) | ¥ | ( i 3,099 | ) | ¥ | ( i 5,188 | ) | |||
Measurement alternative downward changes for observable prices (1)(2)(3)(5) |
¥ | i — | ¥ | ( i 953 | ) | ¥ | i — | |||||
Measurement alternative upward changes for observable prices (1)(2)(3)(6) |
¥ | i 53,077 | ¥ | i 6,223 | ¥ | i 21,710 |
(1) | Included in Investment securities gains (losses)—net. |
(2) | Under the measurement alternative, nonmarketable equity securities are carried at cost plus or minus changes resulting from observable prices in orderly transactions for the identical or a similar investment of the same issuer. |
(3) | The MUFG Group applied measurement alternative downward or upward changes to certain nonmarketable equity securities, resulting from observable prices in orderly transactions, such as partial repurchase and transactions by other entities. |
(4) | The cumulative impairment losses at March 31, 2020 and 2021 were ¥ i 5,007 million and ¥ i 10,102 million, respectively. |
(5) | The cumulative downward changes for observable prices at March 31, 2020 and 2021 were ¥ i 953 million and ¥ i 953 million, respectively. |
(6) | The cumulative upward changes for observable prices at March 31, 2020 and 2021 were ¥ i 34,466 million and ¥ i 54,806 million, respectively. |
4. |
LOANS AND ALLOWANCE FOR CREDIT LOSSES |
2020 |
2021 |
|||||||
(in millions) |
||||||||
Domestic: |
||||||||
Manufacturing |
¥ | i 11,448,778 | ¥ | i 13,133,360 | ||||
Construction |
i 733,212 | i 763,958 | ||||||
Real estate |
i 12,054,671 | i 11,997,301 | ||||||
Services |
i 2,585,111 | i 2,908,975 | ||||||
Wholesale and retail |
i 7,504,561 | i 7,766,070 | ||||||
Banks and other financial institutions (1) |
i 5,161,093 | i 6,443,296 | ||||||
Communication and information services |
i 1,572,344 | i 1,407,738 | ||||||
Other industries |
i 8,673,871 | i 8,838,718 | ||||||
Consumer |
i 15,319,721 | i 15,066,986 | ||||||
|
|
|
|
|||||
Total domestic |
i 65,053,362 | i 68,326,402 | ||||||
|
|
|
|
|||||
Foreign: |
||||||||
Governments and official institutions |
i 726,347 | i 655,367 | ||||||
Banks and other financial institutions (1) |
i 11,788,225 | i 10,649,029 | ||||||
Commercial and industrial |
i 32,565,030 | i 29,574,176 | ||||||
Other |
i 8,404,062 | i 6,822,771 | ||||||
|
|
|
|
|||||
Total foreign |
i 53,483,664 | i 47,701,343 | ||||||
|
|
|
|
|||||
Unearned income, unamortized premiums—net and deferred loan fees—net |
( i 350,287 | ) | ( i 308,882 | ) | ||||
|
|
|
|
|||||
Total (2) |
¥ | i 118,186,739 | ¥ | i 115,718,863 | ||||
|
|
|
|
(1) | Loans to so-called “non-bank finance companies” are generally included in the “Banks and other financial institutions” category. Non-bank finance companies are primarily engaged in consumer lending, factoring and credit card businesses. |
(2) | The above table includes loans held for sale of ¥ i 344,790 million and ¥ i 353,095 million at March 31, 2020 and 2021, respectively. |
Nonaccrual Loans (1) |
||||
(in millions) |
||||
Commercial |
||||
Domestic |
¥ | i 312,972 | ||
Foreign |
i 127,001 | |||
Residential |
i 63,998 | |||
Card |
i 61,172 | |||
MUAH |
i 35,840 | |||
Krungsri |
i 149,732 | |||
Other |
i 27,754 | |||
|
|
|||
Total |
¥ | i 778,469 | ||
|
|
Recorded Loan Balance |
||||||||||||
Nonaccrual Loans (1) |
Nonaccrual Loans Not Requiring an Allowance for Credit Losses (2) |
Recognized Interest Income |
||||||||||
(in millions) |
||||||||||||
Commercial |
||||||||||||
Domestic |
¥ i 565,671 | ¥ |
i 111,141 | ¥ |
i 4,355 | |||||||
Foreign |
i 258,391 | i 96,833 | i 5,110 | |||||||||
Residential |
i 67,968 | i 4,720 | i 923 | |||||||||
Card |
i 60,200 | — | i 37 | |||||||||
MUAH |
i 73,706 | i 30,242 | i 1,057 | |||||||||
Krungsri |
i 161,338 | i 3,042 | i 5,562 | |||||||||
Other |
i 26,567 | i 29 | i 4,203 | |||||||||
|
|
|
|
|
|
|||||||
Total |
¥ | i 1,213,841 | ¥ | i 246,007 | ¥ | i 21,247 | ||||||
|
|
|
|
|
|
(1) | Nonaccrual loans in the above table do not include loans held for sale of ¥ i 330 million and ¥ i 8,562 million at March 31, 2020 and 2021, respectively, and do not include loans acquired with deteriorated credit quality of ¥ i 25,427 million at March 31, 2020. |
(2) | These loans do not require an allowance for credit losses because the recorded loan balance equals, or does not exceed, the present value of expected future cash flows discounted at the loans’ original effective interest rate, or the fair value of the collateral if the loan is a collateral-dependent loan. |
Recorded Loan Balance |
||||||||||||||||||||
At March 31, 2020: |
Requiring an Allowance for Credit Losses |
Not Requiring an Allowance for Credit Losses (1) |
Total |
Unpaid Principal Balance |
Related Allowance for Credit Losses |
|||||||||||||||
(in millions) |
||||||||||||||||||||
Commercial |
||||||||||||||||||||
Domestic |
¥ | i 598,737 | ¥ | i 147,890 | ¥ | i 746,627 | ¥ | i 784,298 | ¥ | i 268,070 | ||||||||||
Foreign |
i 141,897 | i 56,464 | i 198,361 | i 220,283 | i 96,009 | |||||||||||||||
Loans acquired with deteriorated credit quality |
i 12,906 | — | i 12,906 | i 19,947 | i 4,767 | |||||||||||||||
Residential (3) |
i 88,075 | i 4,822 | i 92,897 | i 107,629 | i 12,770 | |||||||||||||||
Card (3) |
i 65,240 | i 280 | i 65,520 | i 72,714 | i 19,799 | |||||||||||||||
MUAH (3) |
i 33,884 | i 33,835 | i 67,719 | i 84,737 | i 5,977 | |||||||||||||||
Krungsri (3) |
i 68,126 | i 30,833 | i 98,959 | i 106,265 | i 30,198 | |||||||||||||||
Other (3) |
i 22,749 | i 1,091 | i 23,840 | i 26,091 | i 6,152 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total (2) |
¥ | i 1,031,614 | ¥ | i 275,215 | ¥ | i 1,306,829 | ¥ | i 1,421,964 | ¥ | i 443,742 | ||||||||||
|
|
|
|
|
|
|
|
|
|
(1) | These loans do not require an allowance for credit losses because the recorded loan balance equals, or does not exceed, the present value of expected future cash flows discounted at the loans’ original effective interest rate, loans’ observable market price, or the fair value of the collateral if the loan is a collateral-dependent loan. |
(2) | In addition to impaired loans presented in the above table, there were impaired loans held for sale of ¥ i 330 million at March 31, 2020. |
(3) | Impaired Loans for Residential, Card, MUAH, Krungsri and Other segments in the above table include loans acquired with deteriorated credit quality. |
2019 |
2020 |
|||||||||||||||
Average Recorded Loan Balance |
Recognized Interest Income |
Average Recorded Loan Balance |
Recognized Interest Income |
|||||||||||||
(in millions) |
||||||||||||||||
Commercial |
||||||||||||||||
Domestic |
¥ | i 766,847 | ¥ | i 12,383 | ¥ | i 726,794 | ¥ | i 8,722 | ||||||||
Foreign |
i 159,999 | i 3,127 | i 174,831 | i 3,013 | ||||||||||||
Loans acquired with deteriorated credit quality |
i 7,814 | i 182 | i 9,395 | i 74 | ||||||||||||
Residential |
i 107,165 | i 1,620 | i 98,238 | i 1,252 | ||||||||||||
Card |
i 66,187 | i 1,614 | i 65,270 | i 1,241 | ||||||||||||
MUAH |
i 71,162 | i 2,292 | i 82,832 | i 2,801 | ||||||||||||
Krungsri |
i 83,165 | i 4,995 | i 91,577 | i 5,274 | ||||||||||||
Other |
— | — | i 11,854 | i 494 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
¥ | i 1,262,339 | ¥ | i 26,213 | ¥ | i 1,260,791 | ¥ | i 22,871 | ||||||||
|
|
|
|
|
|
|
|
2019 |
2020 |
2021 |
||||||||||||||||||||||
Troubled Debt Restructurings |
||||||||||||||||||||||||
Pre- Modification Outstanding Recorded Investment |
Post- Modification Outstanding Recorded Investment |
Pre- Modification Outstanding Recorded Investment |
Post- Modification Outstanding Recorded Investment |
Pre- Modification Outstanding Recorded Investment |
Post- Modification Outstanding Recorded Investment |
|||||||||||||||||||
(in millions) |
||||||||||||||||||||||||
Commercial (1)(3) |
||||||||||||||||||||||||
Domestic |
¥ | i 36,693 | ¥ | i 36,693 | ¥ | i 61,735 | ¥ | i 61,735 | ¥ | i 39,282 | ¥ | i 39,282 | ||||||||||||
Foreign |
i 5,692 | i 5,692 | i 39,827 | i 39,827 | i 33,839 | i 33,839 | ||||||||||||||||||
Loans acquired with deteriorated credit quality |
i 50 | i 50 | i 10,786 | i 10,786 | i — | i — | ||||||||||||||||||
Residential (1)(3) |
i 7,379 | i 7,379 | i 5,137 | i 5,137 | i 18,121 | i 18,121 | ||||||||||||||||||
Card (2)(3) |
i 19,685 | i 18,837 | i 22,625 | i 21,561 | i 20,857 | i 19,737 | ||||||||||||||||||
MUAH (2)(3) |
i 19,837 | i 19,837 | i 33,782 | i 33,564 | i 22,801 | i 22,763 | ||||||||||||||||||
Krungsri (2)(3) |
i 24,392 | i 24,330 | i 31,238 | i 31,209 | i 18,548 | i 18,548 | ||||||||||||||||||
Other (2)(3) |
i — | i — | i 12,781 | i 12,780 | i 24,968 | i 24,956 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total |
¥ | i 113,728 | ¥ | i 112,818 | ¥ | i 217,911 | ¥ | i 216,599 | ¥ | i 178,416 | ¥ | i 177,246 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
2019 |
2020 |
2021 |
||||||||||
Troubled Debt Restructurings That Subsequently defaulted |
||||||||||||
Recorded Investment |
||||||||||||
(in millions) |
||||||||||||
Commercial (1)(3) |
||||||||||||
Domestic |
¥ | i 11,002 | ¥ | i 8,857 | ¥ | i 16,179 | ||||||
Foreign |
i — | i 2,337 | i 9,861 | |||||||||
Residential (1)(3) |
i 362 | i 31 | i 157 | |||||||||
Card (2)(3) |
i 3,442 | i 3,320 | i 2,733 | |||||||||
MUAH (2)(3) |
i 349 | i 4,656 | i 3,437 | |||||||||
Krungsri (2)(3) |
i 7,926 | i 7,305 | i 6,226 | |||||||||
Other (2)(3) |
i — | i 15 | i 857 | |||||||||
|
|
|
|
|
|
|||||||
Total |
¥ | i 23,081 | ¥ | i 26,521 | ¥ | i 39,450 | ||||||
|
|
|
|
|
|
(1) | TDRs for the Commercial and Residential segments include accruing loans, and do not include nonaccrual loans. |
(2) | TDRs for the Card, MUFG Americas Holdings, Krungsri and Other segments include accrual and nonaccrual loans. |
(3) | For the fiscal year ended March 31, 2019, extension of the stated maturity date of loans was the primary concession type in the Commercial, Residential and Krungsri segments, reduction in the stated rate was the primary concession type in the Card segment and forbearance was the primary concession type in the MUFG Americas Holdings segment. For the fiscal year ended March 31, 2020, extension of the stated maturity date of loans was the primary concession type in the Commercial, Residential, MUFG Americas Holdings and Krungsri segments and reduction in the stated rate was the primary concession type in the Card and Other segments. For the fiscal year ended March 31, 2021, extension of the stated maturity date of loans was the primary concession type in the Commercial, Residential and Krungsri segments, reduction in the stated rate was the primary concession type in the Card segment and forbearance was the primary concession type in the MUFG Americas Holdings segment. |
At March 31, 2020: |
Normal |
Close Watch |
Likely to become Bankrupt or Legally/Virtually Bankrupt |
Total (1) |
||||||||||||
(in millions) |
||||||||||||||||
Commercial |
||||||||||||||||
Domestic |
¥ | i 49,695,889 | ¥ | i 1,186,044 | ¥ | i 220,245 | ¥ | i 51,102,178 | ||||||||
Foreign |
i 34,719,041 | i 636,523 | i 128,073 | i 35,483,637 | ||||||||||||
Loans acquired with deteriorated credit quality |
i 8,255 | i 9,739 | i 18,978 | i 36,972 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
¥ | i 84,423,185 | ¥ | i 1,832,306 | ¥ | i 367,296 | ¥ | i 86,622,787 | ||||||||
|
|
|
|
|
|
|
|
Accrual |
Nonaccrual |
Total (1) |
||||||||||
(in millions) |
||||||||||||
Residential |
¥ | i 13,256,744 | ¥ | i 61,746 | ¥ | i 13,318,490 | ||||||
Card |
¥ | i 504,357 | ¥ | i 61,286 | ¥ | i 565,643 |
Credit Quality Based on the Number of Delinquencies |
Credit Quality Based on Internal Credit Ratings |
|
||||||||||||||||||||||
Accrual |
Nonaccrual |
Pass |
Special Mention |
Classified |
Total (1)(2) |
|||||||||||||||||||
(in millions) |
||||||||||||||||||||||||
MUAH |
¥ i 4,590,805 |
¥ i 15,119 |
¥ i 4,877,863 |
¥ i 87,648 |
¥ i 84,033 |
¥ i 9,655,468 |
Performing |
Under- Performing |
Non-Performing |
Total (1) |
|||||||||||||
(in millions) |
||||||||||||||||
Krungsri |
¥ | i 6,241,696 | ¥ | i 508,847 | ¥ | i 161,047 | ¥ | i 6,911,590 |
Accrual |
Nonaccrual |
Total (1) |
||||||||||
(in millions) |
||||||||||||
Other |
¥ | i 1,086,517 | ¥ | i 31,376 | ¥ | i 1,117,893 |
Term Loans Amortized Cost Basis by Origination Year |
Revolving Loans Amortized Cost Basis |
Revolving Loans Converted to Term Loans Amortized Cost Basis |
Total (1) |
|||||||||||||||||||||||||||||||||
At March 31, 2021: |
2020 |
2019 |
2018 |
2017 |
2016 |
Prior |
||||||||||||||||||||||||||||||
(in millions) |
||||||||||||||||||||||||||||||||||||
Commercial: |
¥ | i 29,805,641 | ¥ | i 10,256,709 | ¥ | i 9,410,172 | ¥ | i 5,360,221 | ¥ | i 4,736,515 | ¥ | i 6,945,092 | ¥ | i 19,401,336 | ¥ | i 9,776 | ¥ | i 85,925,462 | ||||||||||||||||||
Domestic |
i 22,402,694 | i 6,392,946 | i 6,126,746 | i 3,840,964 | i 3,649,145 | i 5,286,408 | i 6,934,308 | — | i 54,633,211 | |||||||||||||||||||||||||||
Normal |
i 21,936,776 | i 6,058,126 | i 5,915,318 | i 3,666,734 | i 3,551,332 | i 4,847,597 | i 6,604,586 | — | i 52,580,469 | |||||||||||||||||||||||||||
Close Watch |
i 431,223 | i 319,073 | i 195,630 | i 162,176 | i 74,698 | i 317,622 | i 306,236 | — | i 1,806,658 | |||||||||||||||||||||||||||
Likely to become Bankrupt or Legally/Virtually Bankrupt |
i 34,695 | i 15,747 | i 15,798 | i 12,054 | i 23,115 | i 121,189 | i 23,486 | — | i 246,084 | |||||||||||||||||||||||||||
Foreign |
i 7,402,947 | i 3,863,763 | i 3,283,426 | i 1,519,257 | i 1,087,370 | i 1,658,684 | i 12,467,028 | i 9,776 | i 31,292,251 | |||||||||||||||||||||||||||
Normal |
i 7,158,793 | i 3,704,240 | i 3,155,261 | i 1,423,064 | i 1,032,052 | i 1,534,943 | i 12,231,018 | i 9,776 | i 30,249,147 | |||||||||||||||||||||||||||
Close Watch |
i 200,305 | i 118,027 | i 91,867 | i 60,422 | i 51,433 | i 69,436 | i 197,405 | — | i 788,895 | |||||||||||||||||||||||||||
Likely to become Bankrupt or Legally/Virtually Bankrupt |
i 43,849 | i 41,496 | i 36,298 | i 35,771 | i 3,885 | i 54,305 | i 38,605 | — | i 254,209 | |||||||||||||||||||||||||||
Residential |
¥ | i 623,328 | ¥ | i 847,314 | ¥ | i 822,883 | ¥ | i 892,166 | ¥ | i 1,304,110 | ¥ | i 8,660,022 | ¥ | i 32,984 | ¥ | i 8 | ¥ | i 13,182,815 | ||||||||||||||||||
Accrual |
i 623,035 | i 846,787 | i 822,411 | i 891,407 | i 1,302,427 | i 8,599,621 | i 30,897 | — | i 13,116,585 | |||||||||||||||||||||||||||
Nonaccrual |
i 293 | i 527 | i 472 | i 759 | i 1,683 | i 60,401 | i 2,087 | i 8 | i 66,230 | |||||||||||||||||||||||||||
Card |
¥ | i 14 | ¥ | i 96 | ¥ | i 171 | ¥ | i 304 | ¥ | i 110 | ¥ | i 513 | ¥ | i 417,804 | ¥ | i 60,284 | ¥ | i 479,296 | ||||||||||||||||||
Accrual |
i 1 | i 10 | i 13 | i 19 | i 7 | i 79 | i 404,301 | i 14,666 | i 419,096 | |||||||||||||||||||||||||||
Nonaccrual |
i 13 | i 86 | i 158 | i 285 | i 103 | i 434 | i 13,503 | i 45,618 | i 60,200 | |||||||||||||||||||||||||||
MUAH (2) |
¥ | i 1,406,996 | ¥ | i 1,366,930 | ¥ | i 915,570 | ¥ | i 861,742 | ¥ | i 770,568 | ¥ | i 1,291,561 | ¥ | i 1,882,377 | ¥ | — | ¥ | i 8,495,744 | ||||||||||||||||||
Credit Quality Based on the Number of Delinquencies |
||||||||||||||||||||||||||||||||||||
Accrual |
i 472,892 | i 608,580 | i 324,369 | i 552,380 | i 516,051 | i 656,087 | i 130,514 | — | i 3,260,873 | |||||||||||||||||||||||||||
Nonaccrual |
— | i 725 | i 518 | i 1,139 | i 1,035 | i 14,801 | i 828 | — | i 19,046 | |||||||||||||||||||||||||||
Credit Quality Based on Internal Credit Ratings |
||||||||||||||||||||||||||||||||||||
Pass |
i 920,959 | i 707,841 | i 486,354 | i 287,316 | i 236,715 | i 542,634 | i 1,625,799 | — | i 4,807,618 | |||||||||||||||||||||||||||
Special Mention |
i 4,865 | i 31,361 | i 49,784 | i 14,904 | i 9,522 | i 30,015 | i 76,487 | — | i 216,938 | |||||||||||||||||||||||||||
Classified |
i 8,280 | i 18,423 | i 54,545 | i 6,003 | i 7,245 | i 48,024 | i 48,749 | — | i 191,269 | |||||||||||||||||||||||||||
Krungsri |
¥ | i 1,316,031 | ¥ | i 1,197,815 | ¥ | i 958,241 | ¥ | i 506,919 | ¥ | i 285,427 | ¥ | i 402,752 | ¥ | i 1,922,946 | ¥ | i 14,514 | ¥ | i 6,604,645 | ||||||||||||||||||
Performing |
i 1,251,246 | i 1,086,710 | i 855,915 | i 434,818 | i 241,811 | i 314,114 | i 1,754,840 | — | i 5,939,454 | |||||||||||||||||||||||||||
Under-Performing |
i 52,821 | i 85,408 | i 74,848 | i 57,314 | i 31,886 | i 57,129 | i 144,447 | — | i 503,853 | |||||||||||||||||||||||||||
Non-Performing |
i 11,964 | i 25,697 | i 27,478 | i 14,787 | i 11,730 | i 31,509 | i 23,659 | i 14,514 | i 161,338 | |||||||||||||||||||||||||||
Other |
¥ | i 338,342 | ¥ | i 164,650 | ¥ | i 84,115 | ¥ | i 37,394 | ¥ | i 11,030 | ¥ | i 8,538 | ¥ | i 342,619 | ¥ | — | ¥ | i 986,688 | ||||||||||||||||||
Accrual |
i 335,830 | i 159,363 | i 79,608 | i 35,366 | i 10,556 | i 8,201 | i 331,197 | — | i 960,121 | |||||||||||||||||||||||||||
Nonaccrual |
i 2,512 | i 5,287 | i 4,507 | i 2,028 | i 474 | i 337 | i 11,422 | — | i 26,567 |
(1) | Total loans in the above table do not include loans held for sale, and represent balances without adjustments in relation to unearned income, unamortized premiums and deferred loan fees. |
(2) | Total loans of MUFG Americas Holdings do not include FDIC covered loans which are not individually rated totaling ¥ i 365 million and i nil |
At March 31, 2020: |
1-3 months Past Due |
Greater Than 3 months |
Total Past Due |
Current |
Total Loans (1) |
90 Days and Accruing |
||||||||||||||||||
(in millions) |
||||||||||||||||||||||||
Commercial |
||||||||||||||||||||||||
Domestic |
¥ | i 9,215 | ¥ | i 26,971 | ¥ | i 36,186 | ¥ | i 51,065,992 | ¥ | i 51,102,178 | ¥ | i 4,720 | ||||||||||||
Foreign |
i 9,927 | i 23,548 | i 33,475 | i 35,450,162 | i 35,483,637 | i 164 | ||||||||||||||||||
Residential |
i 48,404 | i 15,443 | i 63,847 | i 13,248,278 | i 13,312,125 | i 6,288 | ||||||||||||||||||
Card |
i 14,735 | i 29,997 | i 44,732 | i 518,008 | i 562,740 | i — | ||||||||||||||||||
MUAH |
i 31,052 | i 14,435 | i 45,487 | i 9,603,339 | i 9,648,826 | i 2,101 | ||||||||||||||||||
Krungsri |
i 160,253 | i 129,186 | i 289,439 | i 6,616,104 | i 6,905,543 | i — | ||||||||||||||||||
Other |
i 16,442 | i 24,348 | i 40,790 | i 1,069,186 | i 1,109,976 | i — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total |
¥ | i 290,028 | ¥ | i 263,928 | ¥ | i 553,956 | ¥ | i 117,571,069 | ¥ | i 118,125,025 | ¥ | i 13,273 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
At March 31, 2021: |
1-3 months Past Due |
Greater Than 3 months |
Total Past Due |
Current |
Total Loans (1) |
90 Days and Accruing |
||||||||||||||||||
(in millions) |
||||||||||||||||||||||||
Commercial |
||||||||||||||||||||||||
Domestic |
¥ | i 4,763 | ¥ | i 22,996 | ¥ | i 27,759 | ¥ | i 54,605,452 | ¥ | i 54,633,211 | ¥ | i 4,673 | ||||||||||||
Foreign |
i 7,302 | i 22,473 | i 29,775 | i 31,262,476 | i 31,292,251 | i 91 | ||||||||||||||||||
Residential |
i 39,577 | i 28,375 | i 67,952 | i 13,114,863 | i 13,182,815 | i 11,150 | ||||||||||||||||||
Card |
i 2,127 | i 26,786 | i 28,913 | i 450,383 | i 479,296 | i — | ||||||||||||||||||
MUAH |
i 42,082 | i 29,337 | i 71,419 | i 8,424,325 | i 8,495,744 | i 4,626 | ||||||||||||||||||
Krungsri |
i 131,573 | i 127,533 | i 259,106 | i 6,345,539 | i 6,604,645 | i — | ||||||||||||||||||
Other |
i 21,776 | i 24,201 | i 45,977 | i 940,711 | i 986,688 | i — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total |
¥ | i 249,200 | ¥ | i 281,701 | ¥ | i 530,901 | ¥ | i 115,143,749 | ¥ | i 115,674,650 | ¥ | i 20,540 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
(1) | At March 31, 2020, total loans in the above table do not include loans held for sale and loans acquired with deteriorated credit quality and represent balances without adjustments in relation to unearned income, unamortized premiums and deferred loan fees. At March 31, 2021, total loans in the above table do not include loans held for sale and represent balances without adjustments in relation to unearned income, unamortized premiums and deferred loan fees. |
Fiscal year ended March 31, 2019: |
Commercial |
Residential |
Card |
MUAH |
Krungsri |
Total |
||||||||||||||||||
(in millions) |
||||||||||||||||||||||||
Allowance for credit losses: |
||||||||||||||||||||||||
Balance at beginning of fiscal year |
¥ | i 491,098 | ¥ | i 42,546 | ¥ | i 32,119 | ¥ | i 53,765 | ¥ | i 144,596 | ¥ | i 764,124 | ||||||||||||
Provision for (reversal of) credit losses |
( i 43,850 | ) | ( i 4,480 | ) | i 23,809 | i 9,277 | i 49,574 | i 34,330 | ||||||||||||||||
Charge-offs |
i 76,664 | i 274 | i 24,310 | i 13,224 | i 59,569 | i 174,041 | ||||||||||||||||||
Recoveries collected |
i 17,565 | i 834 | i 932 | i 3,733 | i 21,053 | i 44,117 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net charge-offs |
i 59,099 | ( i 560 | ) | i 23,378 | i 9,491 | i 38,516 | i 129,924 | |||||||||||||||||
Other (1) |
i 1,466 | i — | i — | ( i 970 | ) | ( i 10,842 | ) | ( i 10,346 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Balance at end of fiscal year |
¥ | i 389,615 | ¥ | i 38,626 | ¥ | i 32,550 | ¥ | i 52,581 | ¥ | i 144,812 | ¥ | i 658,184 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Fiscal year ended March 31, 2020: |
Commercial |
Residential |
Card |
MUAH |
Krungsri |
Other |
Total |
|||||||||||||||||||||
(in millions) |
||||||||||||||||||||||||||||
Allowance for credit losses: |
||||||||||||||||||||||||||||
Balance at beginning of fiscal year |
¥ | i 389,615 | ¥ | i 38,626 | ¥ | i 32,550 | ¥ | i 52,581 | ¥ | i 144,812 | ¥ | i — | ¥ | i 658,184 | ||||||||||||||
Provision for (reversal of) credit losses |
i 153,782 | ( i 1,028 | ) | i 26,542 | i 30,825 | i 70,023 | i 41,569 | i 321,713 | ||||||||||||||||||||
Charge-offs |
i 85,326 | i 3,227 | i 25,149 | i 27,934 | i 77,907 | i 23,592 | i 243,135 | |||||||||||||||||||||
Recoveries collected |
i 26,427 | i 375 | i 1,237 | i 4,173 | i 23,170 | i 8,476 | i 63,858 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Net charge-offs |
i 58,899 | i 2,852 | i 23,912 | i 23,761 | i 54,737 | i 15,116 | i 179,277 | |||||||||||||||||||||
Other (1) |
( i 2,223 | ) | i — | i — | ( i 650 | ) | i 9,528 | i 2,265 | i 8,920 | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Balance at end of fiscal year |
¥ | i 482,275 | ¥ | i 34,746 | ¥ | i 35,180 | ¥ | i 58,995 | ¥ | i 169,626 | ¥ | i 28,718 | ¥ | i 809,540 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fiscal year ended March 31, 2021: |
Commercial |
Residential |
Card |
MUAH |
Krungsri |
Other |
Total |
|||||||||||||||||||||
(in millions) |
||||||||||||||||||||||||||||
Allowance for credit losses: |
||||||||||||||||||||||||||||
Balance at beginning of fiscal year |
¥ | i 482,275 | ¥ | i 34,746 | ¥ | i 35,180 | ¥ | i 58,995 | ¥ | i 169,626 | ¥ | i 28,718 | ¥ | i 809,540 | ||||||||||||||
Effect of adopting new guidance on measurement of credit losses on financial instruments (2) |
i 83,828 | i 49,494 | i 14,262 | i 25,037 | i 118,333 | i 32,750 | i 323,704 | |||||||||||||||||||||
Provision for credit losses |
i 235,584 | i 1,385 | i 17,876 | i 90,064 | i 90,167 | i 49,134 | i 484,210 | |||||||||||||||||||||
Charge-offs |
i 77,904 | i 2,745 | i 24,564 | i 40,376 | i 93,192 | i 51,725 | i 290,506 | |||||||||||||||||||||
Recoveries collected |
i 9,262 | i 13 | i 1,463 | i 4,362 | i 23,415 | i 6,567 | i 45,082 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Net charge-offs |
i 68,642 | i 2,732 | i 23,101 | i 36,014 | i 69,777 | i 45,158 | i 245,424 | |||||||||||||||||||||
Other (1) |
i 1,532 | i — | i — | ( i 6,327 | ) | ( i 14,953 | ) | ( i 3,891 | ) | ( i 23,639 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Balance at end of fiscal year |
¥ | i 734,577 | ¥ | i 82,893 | ¥ | i 44,217 | ¥ | i 131,755 | ¥ | i 293,396 | ¥ | i 61,553 | ¥ | i 1,348,391 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) | Other is principally comprised of gains or losses from foreign exchange translation. |
(2) | See Note 1 for more information. |
At March 31, 2020: |
Commercial |
Residential |
Card |
MUAH |
Krungsri |
Other |
Total |
|||||||||||||||||||||
(in millions) |
||||||||||||||||||||||||||||
Allowance for credit losses: |
||||||||||||||||||||||||||||
Individually evaluated for impairment |
¥ | i 364,079 | ¥ | i 12,651 | ¥ | i 19,799 | ¥ | i 5,977 | ¥ | i 30,198 | ¥ | i 5,073 | ¥ | i 437,777 | ||||||||||||||
Collectively evaluated for impairment |
i 108,100 | i 21,130 | i 15,369 | i 53,013 | i 139,401 | i 22,566 | i 359,579 | |||||||||||||||||||||
Loans acquired with deteriorated credit quality (2) |
i 10,096 | i 965 | i 12 | i 5 | i 27 | i 1,079 | i 12,184 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Total |
¥ | i 482,275 | ¥ | i 34,746 | ¥ | i 35,180 | ¥ | i 58,995 | ¥ | i 169,626 | ¥ | i 28,718 | ¥ | i 809,540 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Loans: |
||||||||||||||||||||||||||||
Individually evaluated for impairment |
¥ | i 944,988 | ¥ | i 92,448 | ¥ | i 65,292 | ¥ | i 67,719 | ¥ | i 98,959 | ¥ | i 17,512 | ¥ | i 1,286,918 | ||||||||||||||
Collectively evaluated for impairment |
i 85,640,827 | i 13,219,677 | i 497,448 | i 9,581,107 | i 6,806,584 | i 1,092,464 | i 116,838,107 | |||||||||||||||||||||
Loans acquired with deteriorated credit quality (2) |
i 36,972 | i 6,365 | i 2,903 | i 7,007 | i 6,047 | i 7,917 | i 67,211 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Total (1) |
¥ | i 86,622,787 | ¥ | i 13,318,490 | ¥ | i 565,643 | ¥ | i 9,655,833 | ¥ | i 6,911,590 | ¥ | i 1,117,893 | ¥ | i 118,192,236 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) | Total loans in the above table do not include loans held for sale, and represent balances without adjustments in relation to unearned income, unamortized premiums and deferred loan fees. |
(2) | Loans acquired with deteriorated credit quality in the above table include impaired loans which are individually evaluated for impairment. |
5. |
PREMISES AND EQUIPMENT |
2020 |
2021 |
|||||||
(in millions) |
||||||||
Land |
¥ | i 380,477 | ¥ | i 379,560 | ||||
Buildings |
i 782,367 | i 765,341 | ||||||
Equipment and furniture |
i 623,676 | i 564,273 | ||||||
Leasehold improvements |
i 310,957 | i 303,164 | ||||||
Construction in progress |
i 35,594 | i 46,513 | ||||||
|
|
|
|
|||||
Total |
i 2,133,071 | i 2,058,851 | ||||||
Less accumulated depreciation |
i 1,203,542 | i 1,183,859 | ||||||
|
|
|
|
|||||
Premises and equipment-net |
¥ | i 929,529 | ¥ | i 874,992 | ||||
|
|
|
|
6. |
GOODWILL AND OTHER INTANGIBLE ASSETS |
Global Corporate & Investment Banking Business Group |
Global Commercial Banking Business Group |
Asset Management & Investor Services Business Group |
Global Markets Business Group |
Total |
||||||||||||||||
(in millions) |
||||||||||||||||||||
Balance at March 31, 2019: |
||||||||||||||||||||
Goodwill |
¥ | i 105,339 | ¥ | i 490,883 | ¥ | i 27,487 | ¥ | i 2,300 | ¥ | i 626,009 | ||||||||||
Accumulated impairment losses (2) |
— | ( i 177,750 | ) | ( i 14,368 | ) | — | ( i 192,118 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
i 105,339 | i 313,133 | i 13,119 | i 2,300 | i 433,891 | ||||||||||||||||
Goodwill acquired during the fiscal year (1) |
i 34,553 | i 260,639 | i 178,308 | — | i 473,500 | |||||||||||||||
Impairment loss |
( i 32,868 | ) | ( i 350,942 | ) | — | — | ( i 383,810 | ) | ||||||||||||
Foreign currency translation adjustments and other |
( i 1,354 | ) | ( i 12,877 | ) | i 8,276 | — | ( i 5,955 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Balance at March 31, 2020: |
||||||||||||||||||||
Goodwill |
i 138,538 | i 738,645 | i 214,071 | i 2,300 | i 1,093,554 | |||||||||||||||
Accumulated impairment losses |
( i 32,868 | ) | ( i 528,692 | ) | ( i 14,368 | ) | — | ( i 575,928 | ) | |||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
¥ | i 105,670 | ¥ | i 209,953 | ¥ | i 199,703 | ¥ | i 2,300 | ¥ | i 517,626 | |||||||||||
Goodwill acquired during the fiscal year (1) |
i 1,105 | — | i 4,164 | — | i 5,269 | |||||||||||||||
Impairment loss |
( i 30,525 | ) | ( i 117,039 | ) | — | — | ( i 147,564 | ) | ||||||||||||
Foreign currency translation adjustments and other |
i 456 | ( i 10,001 | ) | i 5,066 | — | ( i 4,479 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Balance at March 31, 2021: |
||||||||||||||||||||
Goodwill |
i 140,099 | i 728,644 | i 223,301 | i 2,300 | i 1,094,344 | |||||||||||||||
Accumulated impairment losses |
( i 63,393 | ) | ( i 645,731 | ) | ( i 14,368 | ) | — | ( i 723,492 | ) | |||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
¥ | i 76,706 | ¥ | i 82,913 | ¥ | i 208,933 | ¥ | i 2,300 | ¥ | i 370,852 | |||||||||||
|
|
|
|
|
|
|
|
|
|
(1) | See Note 2 for the goodwill acquired in connection with acquisitions. |
(2) | Effective April 1, 2018, the MUFG Group reorganized its business groups. Goodwill originally recognized for Retail Banking Business Group, Corporate Banking Business Group, Trust Assets Business Group and Global Business Group other than MUAH and Krungsri was ¥ i 1,900,019 million, which has been fully impaired before April 1, 2017. As these impairment losses recorded in past before the reorganization of the segment and are irrelevant to the annual impairment test under the new segment, the accumulated impaired loss is not allocated to new business segments after the reorganization of business group. |
2020 |
2021 |
|||||||||||||||||||||||
Gross carrying amount |
Accumulated amortization |
Net carrying amount |
Gross carrying amount |
Accumulated amortization |
Net carrying amount |
|||||||||||||||||||
(in millions) |
||||||||||||||||||||||||
Intangible assets subject to amortization: |
||||||||||||||||||||||||
Software |
¥ | i 2,852,273 | ¥ | i 2,096,635 | ¥ | i 755,638 | ¥ | i 3,025,769 | ¥ | i 2,249,340 | ¥ | i 776,429 | ||||||||||||
Customer relationships |
i 567,886 | i 264,636 | i 303,250 | i 555,796 | i 290,641 | i 265,155 | ||||||||||||||||||
Core deposit intangibles |
i 174,802 | i 100,022 | i 74,780 | i 164,979 | i 102,958 | i 62,021 | ||||||||||||||||||
Trade names |
i 94,748 | i 38,055 | i 56,693 | i 92,422 | i 41,629 | i 50,793 | ||||||||||||||||||
Other |
i 17,374 | i 5,769 | i 11,605 | i 16,136 | i 5,640 | i 10,496 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total |
¥ | i 3,707,083 | ¥ | i 2,505,117 | i 1,201,966 | ¥ | i 3,855,102 | ¥ | i 2,690,208 | i 1,164,894 | ||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Intangible assets not subject to amortization: |
||||||||||||||||||||||||
Other (1) |
i 37,560 | i 20,100 | ||||||||||||||||||||||
|
|
|
|
|||||||||||||||||||||
Total |
¥ | i 1,239,526 | ¥ | i 1,184,994 | ||||||||||||||||||||
|
|
|
|
(1) | Intangible assets not subject to amortization includes ¥ i 29,641 million and ¥ i 11,355 million of mortgage servicing rights accounted for at fair value at March 31, 2020 and 2021, respectively. |
(in millions) |
||||
Fiscal year ending March 31: |
||||
2022 |
¥ | i 267,181 | ||
2023 |
i 228,631 | |||
2024 |
i 193,748 | |||
2025 |
i 150,403 | |||
2026 |
i 100,619 |
7. |
LEASE TRANSACTIONS |
2020 |
2021 |
|||||||
(in millions) |
||||||||
Finance lease cost: |
||||||||
Amortization of right-of-use |
¥ | i 5,455 | ¥ | i 4,971 | ||||
Interest on lease liabilities |
i 460 | i 240 | ||||||
Operating lease cost |
i 99,939 | i 91,276 |
2020 |
2021 |
|||||||
(in millions, except years and percentages) |
||||||||
Cash paid for amounts included in the measurement of lease liabilities: |
||||||||
Operating cash flows from finance leases |
¥ | i 482 | ¥ | i 331 | ||||
Operating cash flows from operating leases |
i 106,103 | i 102,982 | ||||||
Financing cash flows from finance leases |
i 7,090 | i 7,709 | ||||||
Right-of-use |
i 12,754 | i 3,487 | ||||||
Right-of-use assets obtained in exchange for new operating lease liabilities |
i 46,482 | i 50,564 | ||||||
Weighted-average remaining lease term: |
||||||||
Finance leases |
i 4.4 years | i 4.1 years | ||||||
Operating leases |
i 9.5 years | i 8.3 years | ||||||
Weighted-average discount rate: |
||||||||
Finance leases |
i 0.99 | % | i 0.87 | % | ||||
Operating leases |
i 1.16 | % | i 0.97 | % |
Finance leases |
Operating leases |
|||||||
(in millions) |
||||||||
2022 |
¥ | i 7,550 | ¥ | i 106,423 | ||||
2023 |
i 5,397 | i 81,112 | ||||||
2024 |
i 3,735 | i 60,525 | ||||||
2025 |
i 1,585 | i 51,303 | ||||||
2026 |
i 748 | i 41,089 | ||||||
2027 and thereafter |
i 2,090 | i 163,125 | ||||||
|
|
|
|
|||||
Total undiscounted cash flows |
i 21,105 | i 503,577 | ||||||
Difference between undiscounted and discounted cash flows |
( i 968 | ) | ( i 27,473 | ) | ||||
|
|
|
|
|||||
Amount on balance sheet |
¥ | i 20,137 | ¥ | i 476,104 | ||||
|
|
|
|
2020 |
2021 |
|||||||
(in millions) |
||||||||
Sales type and direct financing leases: |
||||||||
Finance income on net investment |
¥ | i 119,010 | ¥ | i 122,810 | ||||
Operating leases: |
||||||||
Lease income |
i 7,856 | i 3,663 | ||||||
|
|
|
|
|||||
Total |
¥ | i 126,866 | ¥ | i 126,473 | ||||
|
|
|
|
2020 |
2021 |
|||||||
(in millions) |
||||||||
Lease receivables (undiscounted) |
¥ | i 2,193,360 | ¥ | i 1,913,852 | ||||
Adjustments: |
||||||||
Discounted unguaranteed residual value |
i 15,515 | i 15,435 | ||||||
Initial direct cost on sales type and direct financing leases |
i 29,562 | i 27,869 | ||||||
Deferred selling profit |
( i 364,206 | ) | ( i 313,784 | ) | ||||
|
|
|
|
|||||
Net investment in sales type and direct financing leases |
¥ | i 1,874,231 | ¥ | i 1,643,372 | ||||
|
|
|
|
Lease receivables |
||||
(in millions) |
||||
2022 |
¥ | i 460,067 | ||
2023 |
i 417,653 | |||
2024 |
i 352,767 | |||
2025 |
i 270,563 | |||
2026 |
i 188,168 | |||
2027 and thereafter |
i 224,634 | |||
|
|
|||
Total undiscounted cash flows |
i 1,913,852 | |||
Difference between undiscounted cash flows and the lease receivables recognized on balance sheet |
( i 270,480 | ) | ||
|
|
|||
Amount on balance sheet |
¥ | i 1,643,372 | ||
|
|
8. |
INCOME TAXES |
2019 |
2020 |
2021 |
||||||||||
(in millions) |
||||||||||||
Domestic income |
¥ | i 228,018 | ¥ | i 89,440 | ¥ | i 575,101 | ||||||
Foreign income |
i 642,824 | i 343,780 | i 1,033,241 | |||||||||
|
|
|
|
|
|
|||||||
Total |
¥ | i 870,842 | ¥ | i 433,220 | ¥ | i 1,608,342 | ||||||
|
|
|
|
|
|
2019 |
2020 |
2021 |
||||||||||
(in millions) |
||||||||||||
Current: |
||||||||||||
Domestic |
¥ | i 57,303 | ¥ | i 28,128 | ¥ | i 95,183 | ||||||
Foreign |
i 123,730 | i 147,344 | i 83,492 | |||||||||
|
|
|
|
|
|
|||||||
Total |
i 181,033 | i 175,472 | i 178,675 | |||||||||
|
|
|
|
|
|
|||||||
Deferred: |
||||||||||||
Domestic |
( i 32,746 | ) | ( i 18,949 | ) | i 310,490 | |||||||
Foreign |
( i 15,050 | ) | ( i 42,018 | ) | ( i 44,217 | ) | ||||||
|
|
|
|
|
|
|||||||
Total |
( i 47,796 | ) | ( i 60,967 | ) | i 266,273 | |||||||
|
|
|
|
|
|
|||||||
Income tax expense |
i 133,237 | i 114,505 | i 444,948 | |||||||||
Income tax expense (benefit) reported in Accumulated OCI relating to: |
||||||||||||
Investment securities |
i 15,590 | ( i 29,747 | ) | i 1,146 | ||||||||
Debt valuation adjustments |
i 4,293 | i 23,908 | ( i 36,792 | ) | ||||||||
Derivatives qualifying for cash flow hedges |
( i 1,845 | ) | i 4,012 | i 12,244 | ||||||||
Defined benefit plans |
( i 38,229 | ) | ( i 57,685 | ) | i 139,883 | |||||||
Foreign currency translation adjustments |
i 15,148 | ( i 20,693 | ) | ( i 3,368 | ) | |||||||
|
|
|
|
|
|
|||||||
Total |
( i 5,043 | ) | ( i 80,205 | ) | i 113,113 | |||||||
|
|
|
|
|
|
|||||||
Total |
¥ | i 128,194 | ¥ | i 34,300 | ¥ | i 558,061 | ||||||
|
|
|
|
|
|
2019 |
2020 |
2021 |
||||||||||
Combined normal effective statutory tax rate |
i 30.6 | % | i 30.6 | % | i 30.6 | % | ||||||
Nondeductible expenses |
i 0.5 | i 1.2 | i 0.3 | |||||||||
Impairment of goodwill |
i — | i 26.1 | i 2.4 | |||||||||
Foreign tax credit and payments |
( i 3.3 | ) | ( i 9.2 | ) | ( i 0.9 | ) | ||||||
Lower tax rates applicable to income of subsidiaries |
( i 2.5 | ) | ( i 3.2 | ) | ( i 1.0 | ) | ||||||
Change in valuation allowance |
( i 1.4 | ) | i 7.9 | ( i 0.9 | ) | |||||||
Realization of previously unrecognized tax effects of subsidiaries |
i — | ( i 19.8 | ) (1) |
i 0.0 | ||||||||
Nontaxable dividends received |
( i 9.1 | ) | ( i 15.6 | ) | ( i 1.9 | ) | ||||||
Undistributed earnings of subsidiaries |
i 0.6 | i 3.6 | i 0.0 | |||||||||
Tax and interest expense for uncertainty in income taxes |
i 0.6 | i 0.0 | ( i 0.1 | ) | ||||||||
Noncontrolling interest income (loss) |
i 0.2 | ( i 0.1 | ) | i 0.1 | ||||||||
Effect of changes in tax laws |
i 0.0 | i — | ( i 0.1 | ) | ||||||||
Expiration of loss carryforward |
i 0.1 | i 1.9 | i 0.1 | |||||||||
Other—net |
( i 1.0 | ) | i 3.0 | ( i 0.9 | ) | |||||||
|
|
|
|
|
|
|||||||
Effective income tax rate |
i 15.3 | % | i 26.4 | % | i 27.7 | % | ||||||
|
|
|
|
|
|
(1) | In October 2019, a wholly owned subsidiary of the MUFG Group was sold. The sale resulted in the realization of tax benefits that were not previously recognized as deferred tax assets, resulting in a ¥ i 85,588 million reduction of income tax expense and a 19.8 % reduction in the effective tax rate for the fiscal year ended March 31, 2020. |
2020 |
2021 |
|||||||
(in millions) |
||||||||
Deferred tax assets: |
||||||||
Allowance for credit losses |
¥ | i 317,770 | ¥ | i 462,369 | ||||
Operating loss carryforwards |
i 94,326 | i 97,844 | ||||||
Loans |
i 2,022 | i 790 | ||||||
Accrued liabilities and other |
i 277,807 | i 300,942 | ||||||
Premises and equipment |
i 150,116 | i 117,322 | ||||||
Derivative financial instruments |
i 96,761 | i 69,039 | ||||||
Defined benefit plans |
i 57,836 | i — | ||||||
Obligations under operating leases |
i 133,812 | i 132,443 | ||||||
Valuation allowance |
( i 151,530 | ) | ( i 137,503 | ) | ||||
|
|
|
|
|||||
Total deferred tax assets |
i 978,920 | i 1,043,246 | ||||||
|
|
|
|
2020 |
2021 |
|||||||
(in millions) |
||||||||
Deferred tax liabilities: |
||||||||
Investment securities (including trading account assets at fair value under the fair value option) |
i 788,614 | i 1,017,131 | ||||||
Intangible assets |
i 87,063 | i 70,575 | ||||||
Lease transactions |
i 54,349 | i 48,519 | ||||||
Defined benefit plans |
i — | i 81,282 | ||||||
Investments in subsidiaries and affiliates |
i 279,583 | i 338,713 | ||||||
Right-of-use |
i 106,995 | i 100,260 | ||||||
Other |
i 90,653 | i 92,306 | ||||||
|
|
|
|
|||||
Total deferred tax liabilities |
i 1,407,257 | i 1,748,786 | ||||||
|
|
|
|
|||||
Net deferred tax assets (liabilities) |
¥ | ( i 428,337 | ) | ¥ | ( i 705,540 | ) | ||
|
|
|
|
Operating loss carryforwards |
Tax credit carryforwards |
|||||||
(in millions) |
||||||||
Fiscal year ending March 31: |
||||||||
2022 |
¥ | i 15,457 | ¥ | i 650 | ||||
2023 |
i 5,575 | i 8,191 | ||||||
2024 |
i 5,209 | i 6,705 | ||||||
2025 |
i 84,080 | i 10 | ||||||
2026 |
i 59,047 | i 37 | ||||||
2027 |
i 1,722 | i 70 | ||||||
2028 and thereafter |
i 17,288 | i 41,756 | ||||||
No definite expiration date |
i 24,730 | i 4,765 | ||||||
|
|
|
|
|||||
Total |
¥ | i 213,108 | ¥ | i 62,184 | ||||
|
|
|
|
2019 |
2020 |
2021 |
||||||||||
(in millions) |
||||||||||||
Balance at beginning of fiscal year |
¥ | i 12,917 | ¥ | i 19,160 | ¥ | i 19,249 | ||||||
Gross amount of increases for current year’s tax positions |
i 313 | i 399 | i 202 | |||||||||
Gross amount of decreases for current year’s tax positions |
— | — | ( i 1,919 | ) | ||||||||
Gross amount of increases for prior years’ tax positions |
i 8,836 | i 212 | i 489 | |||||||||
Gross amount of decreases for prior years’ tax positions |
( i 1,090 | ) | i — | ( i 2,329 | ) | |||||||
Net amount of changes relating to settlements with tax authorities |
i — | ( i 81 | ) | i — | ||||||||
Decreases due to lapse of applicable statutes of limitations |
( i 1,540 | ) | ( i 297 | ) | ( i 116 | ) | ||||||
Foreign exchange translation and other |
( i 276 | ) | ( i 144 | ) | ( i 1,747 | ) | ||||||
|
|
|
|
|
|
|||||||
Balance at end of fiscal year |
¥ | i 19,160 | ¥ | i 19,249 | ¥ | i 13,829 | ||||||
|
|
|
|
|
|
2019 |
2020 |
2021 |
||||||||||
(in millions) |
||||||||||||
Balance at beginning of fiscal year |
¥ | i 4,564 | ¥ | i 3,056 | ¥ | i 2,612 | ||||||
Total interest and penalties in the consolidated statements of income |
( i 1,655 | ) | ( i 398 | ) | ( i 398 | ) | ||||||
Total cash settlements, foreign exchange translation and other |
i 147 | ( i 46 | ) | i 203 | ||||||||
|
|
|
|
|
|
|||||||
Balance at end of fiscal year |
¥ | i 3,056 | ¥ | i 2,612 | ¥ | i 2,417 | ||||||
|
|
|
|
|
|
Jurisdiction |
Tax years | |
Japan |
i 2020 and forward | |
United States—Federal |
i 2017 and forward | |
United States—California |
i 2015 and forward | |
Indonesia |
i 2017 and forward |
9. |
PLEDGED ASSETS AND COLLATERAL |
2021 |
||||
(in millions) |
||||
Trading account securities |
¥ | i 9,966,574 | ||
Investment securities |
i 20,250,998 | |||
Loans |
i 12,289,789 | |||
Other |
i 23,745 | |||
|
|
|||
Total |
¥ | i 42,531,106 | ||
|
|
2021 |
||||
(in millions) |
||||
Deposits |
¥ | i 138,491 | ||
Payables under repurchase agreements and securities lending transactions |
i 13,118,547 | |||
Other short-term borrowings and long-term debt |
i 29,243,996 | |||
Other |
i 30,072 | |||
|
|
|||
Total |
¥ | i 42,531,106 | ||
|
|
10. |
DEPOSITS |
Domestic |
Foreign |
|||||||
(in millions) |
||||||||
Due in one year or less |
¥ | i 32,811,126 | ¥ | i 23,871,425 | ||||
Due after one year through two years |
i 4,345,312 | i 460,277 | ||||||
Due after two years through three years |
i 2,454,117 | i 204,050 | ||||||
Due after three years through four years |
i 610,596 | i 109,874 | ||||||
Due after four years through five years |
i 668,397 | i 31,178 | ||||||
Due after five years |
i 757,934 | i 68,309 | ||||||
|
|
|
|
|||||
Total |
¥ | i 41,647,482 | ¥ | i 24,745,113 | ||||
|
|
|
|
11. |
CALL MONEY AND FUNDS PURCHASED |
2020 |
2021 |
|||||||
(in millions, except percentages and days) |
||||||||
Outstanding at end of fiscal year: |
||||||||
Amount |
¥ | i 3,668,922 | ¥ | i 2,353,830 | ||||
Principal range of maturities |
i 1 |
i 1 |
||||||
Weighted average interest rate |
i 0.04 | % | i 0.04 | % |
12. |
DUE TO TRUST ACCOUNT, SHORT-TERM BORROWINGS AND LONG-TERM DEBT |
2020 |
2021 |
|||||||
(in millions, except percentages) |
||||||||
Amount outstanding at end of fiscal year |
¥ | i 3,377,747 | ¥ | i 3,891,831 | ||||
Weighted average interest rate on outstanding balance at end of fiscal year |
i 0.00 | % | i 0.00 | % |
2020 |
2021 |
|||||||
(in millions, except percentages) |
||||||||
Domestic offices: |
||||||||
Commercial paper |
¥ | i 1,160,758 | ¥ | i 1,207,610 | ||||
Borrowings from the Bank of Japan |
i 9,800,800 | i 9,238,209 | ||||||
Borrowings from other financial institutions |
i 191,453 | i 141,060 | ||||||
Other |
i 170,044 | i 126,060 | ||||||
|
|
|
|
|||||
Total domestic offices |
i 11,323,055 | i 10,712,939 | ||||||
|
|
|
|
|||||
Foreign offices: |
||||||||
Commercial paper |
i 3,836,459 | i 3,281,866 | ||||||
Borrowings from other financial institutions |
i 631,502 | i 113,874 | ||||||
Short-term debentures |
i 24,009 | i 7,775 | ||||||
Other |
i 241,168 | i 71,306 | ||||||
|
|
|
|
|||||
Total foreign offices |
i 4,733,138 | i 3,474,821 | ||||||
|
|
|
|
|||||
Total |
i 16,056,193 | i 14,187,760 | ||||||
Less unamortized discount |
i 711 | i 37 | ||||||
|
|
|
|
|||||
Other short-term borrowings—net |
¥ | i 16,055,482 | ¥ | i 14,187,723 | ||||
|
|
|
|
|||||
Weighted average interest rate on outstanding balance at end of fiscal year |
i 0.67 | % | i 0.06 | % |
2020 |
2021 |
|||||||
(in millions) |
||||||||
MUFG: |
||||||||
Obligations under finance leases |
¥ |
i 6,552 | ¥ |
i 4,989 | ||||
Unsubordinated debt (1) : |
||||||||
Fixed rate bonds, payable in i US dollars, due i 2021- i 2039,
principally
i 0.85%- i 4.29% |
i 3,864,822 | i 4,224,401 | ||||||
Fixed rate bonds, payable in i Euro, due i 2023- i 2033,
principally
i 0.34%- i 1.75% |
i 408,825 | i 482,856 | ||||||
Fixed rate bonds, payable in i other currencies, due i 2024- i 2029,
principally
i 2.08%- i 4.05 % (2 ) |
i 28,382 | i 34,262 | ||||||
Floating rate bonds, payable in i US dollars, due i 2021- i 2023,
principally
i 0.87%- i 1.24% |
i 734,254 | i 669,464 | ||||||
Floating rate bonds, payable in i Euro, due i 2023,
principally i 0.01% |
i 41,843 | i 45,430 | ||||||
Floating rate bonds, payable in i other currencies, due i 2024,
principally i 1.26% (2) |
i 26,436 | i 33,744 | ||||||
|
|
|
|
|||||
Total |
i 5,104,562 | i 5,490,157 | ||||||
|
|
|
|
|||||
Subordinated debt (1) : |
||||||||
Fixed rate bonds, payable in i Japanese yen, due i 2024- i 2031,
principally
i 0.37%- i 1.39% |
i 685,663 | i 776,886 | ||||||
Adjustable rate bonds, payable in i Japanese yen, due i 2026- i 2031,
principally
i 0.29%- i 0.58% |
i 1,043,336 | i 1,072,209 | ||||||
Adjustable rate bonds, payable in i Japanese yen, i no stated maturity, principally
i 0.82%- i 2.50% |
i 1,756,087 | i 1,704,816 | ||||||
Adjustable rate borrowings, payable in i Japanese yen, due i 2028- i 2029,
principally
i 0.30%- i 0.46% |
i 47,500 | i 31,500 | ||||||
Adjustable rate borrowings, payable in i Japanese yen, i no stated maturity, principally
i 0.85%- i 1.17% |
i 66,649 | i 87,085 | ||||||
Floating rate bonds, payable in i Japanese yen, i no stated maturity, principally i 3.02% |
i 3,500 | — | ||||||
Floating rate borrowings, payable in i Japanese yen, due i 2025- i 2028,
principally
i 0.57%- i 0.79% |
i 86,000 | i 86,000 | ||||||
|
|
|
|
|||||
Total |
i 3,688,735 | i 3,758,496 | ||||||
|
|
|
|
|||||
Total |
i 8,799,849 | i 9,253,642 | ||||||
|
|
|
|
|||||
MUFG Bank: |
||||||||
Obligations under finance leases |
¥ |
i 5,636 | ¥ |
i 4,628 | ||||
Unsubordinated debt (1) : |
||||||||
Fixed rate bonds, payable in i Japanese yen, due i 2021- i 2027,
principally
i 0.36%- i 2.34% |
i 141,700 | i 123,300 | ||||||
Fixed rate bonds, payable in i US dollars, due i 2021- i 2050,
principally
i 0.00%- i 4.70% |
i 1,104,504 | i 1,041,115 | ||||||
Fixed rate bonds, payable in i Euro, due i 2022- i 2033,
principally
i 0.88%- i 1.81% |
i 108,252 | i 109,619 | ||||||
Fixed rate bonds, payable in i other currencies, due i 2047,
principally i 0.00% (2) |
i 17,620 | i 3,100 | ||||||
Fixed rate borrowings, payable in i Japanese yen, due i 2021- i 2028,
principally
i 0.00%- i 0.25% |
i 10,440,217 | i 18,689,074 | ||||||
Fixed rate borrowings, payable in i US dollars, due i 2030,
principally i 2.93% |
i 8,367 | i 7,833 | ||||||
Floating rate borrowings, payable in i US dollars, due i 2021- i 2031,
principally
i 0.20%- i 4.11% |
i 897,170 | i 721,941 | ||||||
Floating rate borrowings, payable in i Euro, due i 2021- i 2036,
principally
i 0.00%- i 0.40% |
i 102,123 | i 111,611 | ||||||
|
|
|
|
|||||
Total |
i 12,819,953 | i 20,807,593 | ||||||
|
|
|
|
|||||
Subordinated debt (1) : |
||||||||
Fixed rate bonds, payable in i Japanese yen, due i 2021- i 2031,
principally
i 1.39%- i 2.91% |
i 490,590 | i 350,900 | ||||||
Fixed rate borrowings, payable in i Japanese yen, due i 2022- i 2035,
principally
i 0.31%- i 2.24% |
i 73,400 | i 73,400 | ||||||
Adjustable rate borrowings, payable in i Japanese yen, due i 2028, principally
i 0.98% |
i 12,000 | i 10,000 | ||||||
Adjustable rate borrowings, payable in i Japanese yen, i no stated maturity, principally
i 2.67%- i 3.52% |
i 13,500 | — | ||||||
Floating rate borrowings, payable in i Japanese yen, due i 2027, principally
i 0.12% |
i 15,000 | i 15,000 | ||||||
|
|
|
|
|||||
Total |
i 604,490 | i 449,300 | ||||||
|
|
|
|
|||||
Obligations under loan securitization transaction accounted for as secured borrowings due i 2021- i 2080, principally
i 0.11%- i 8.00% |
i 791,139 | i 618,072 | ||||||
|
|
|
|
|||||
Total |
i 14,221,218 | i 21,879,593 | ||||||
|
|
|
|
2020 |
2021 |
|||||||
(in millions) |
||||||||
Other subsidiaries: |
||||||||
Obligations under finance leases |
¥ |
i 12,998 | ¥ |
i 10,520 | ||||
Unsubordinated debt (1) : |
||||||||
Fixed rate borrowings, bonds and notes, payable in i Japanese yen, due i 2021- i 2051,
principally
i 0.00%- i 56.00% |
i 940,691 | i 878,276 | ||||||
Fixed rate borrowings, bonds and notes, payable in i US dollars, due i 2021- i 2036,
principally
i 0.00%- i 57.00% |
i 1,106,465 | i 885,950 | ||||||
Fixed rate borrowings, bonds and notes, payable in i Euro, due i 2021- i 2030,
principally
i 0.00%- i 0.26% |
i 2,965 | i 2,719 | ||||||
Fixed rate borrowings, bonds and notes, payable in i Thai baht, due i 2021- i 2027,
principally
i 0.00%- i 7.15% |
i 387,799 | i 349,666 | ||||||
Fixed rate borrowings, bonds and notes, payable in i other currencies, due i 2021- i 2037,
principally i 0.00%- i 10.25%
(2) |
i 360,558 | i 320,663 | ||||||
Floating/Adjustable rate borrowings, bonds and notes, payable in i Japanese yen, due i 2021- i 2051,
principally
i 0.00%- i 65.00% |
i 1,259,427 | i 1,007,882 | ||||||
Floating rate borrowings, bonds and notes, payable in i US dollars, due i 2021- i 2030,
principally
i 0.00%- i 60.00% |
i 378,217 | i 174,997 | ||||||
Floating rate borrowings, bonds and notes, payable in i Euro, due i 2021- i 2023,
principally
i 0.00%- i 4.00% |
i 835 | i 1,092 | ||||||
Floating/Adjustable rate borrowings, bonds and notes, payable in i other currencies, due i 2020- i 2024,
principally i 0.00%- i 7.30%
(2) |
i 6,804 | — | ||||||
|
|
|
|
|||||
Total |
i 4,443,761 | i 3,621,245 | ||||||
|
|
|
|
|||||
Subordinated debt (1) : |
||||||||
Fixed rate borrowings, bonds and notes, payable in i Japanese yen, due i 2021- i 2030,
principally
i 1.36%- i 2.61% |
i 223,095 | i 184,894 | ||||||
Fixed rate borrowings, bonds and notes, payable in i US dollars, due i 2022- i 2030,
principally
i 7.50%- i 9.90% |
i 737 | i 1,212 | ||||||
Fixed rate borrowings, bonds and notes, payable in i Thai baht, due i 2027- i 2029,
principally
i 3.40%- i 3.90% |
i 220,756 | i 209,189 | ||||||
Fixed rate borrowings, bonds and notes, payable in i other currencies, due i 2021,
principally i 0.00% (2) |
i 7,179 | i 6,915 | ||||||
Floating rate borrowings, bonds and notes, payable in i Japanese yen, due i 2021,
principally i 0.73% |
i 2,000 | — | ||||||
Floating rate borrowings, bonds and notes, payable in i US dollars, due i 2036,
principally i 1.95% |
i 4,575 | i 3,820 | ||||||
|
|
|
|
|||||
Total |
i 458,342 | i 406,030 | ||||||
|
|
|
|
|||||
Obligations under loan securitization transaction accounted for as secured borrowings due i 2021- i 2022, principally
i 1.84%- i 2.25% |
i 6,453 | i 11 | ||||||
|
|
|
|
|||||
Total |
i 4,921,554 | i 4,037,806 | ||||||
|
|
|
|
|||||
Total |
i 27,942,621 | i 35,171,041 | ||||||
|
|
|
|
|||||
Debt issuance cost |
¥ |
( i 15,858) | ¥ |
( i 13,390) | ||||
|
|
|
|
|||||
Total |
¥ |
i 27,926,763 | ¥ |
i 35,157,651 | ||||
|
|
|
|
(1) | Adjustable rate debts are debts where interest rates are reset in accordance with the terms of the debt agreements, and floating rate debts are debts where interest rates are repriced in accordance with movements of markets indices. |
(2) | Minor currencies, such as Australian dollar, British pound, Indonesian rupiah, Brazilian real, Russian ruble etc., excluding Japanese yen, US dollars, Euro and Thai baht have been summarized into the “Other currencies” classification. |
MUFG |
BK |
Other subsidiaries |
Total |
|||||||||||||
(in millions) |
||||||||||||||||
Fiscal year ending March 31: |
||||||||||||||||
2022 |
¥ | i 792,201 | ¥ | i 2,014,430 | ¥ | i 1,065,677 | ¥ | i 3,872,308 | ||||||||
2023 |
i 896,760 | i 644,383 | i 1,025,627 | i 2,566,770 | ||||||||||||
2024 |
i 752,246 | i 1,073,761 | i 558,907 | i 2,384,914 | ||||||||||||
2025 |
i 979,603 | i 16,530,494 | i 272,391 | i 17,782,488 | ||||||||||||
2026 |
i 513,597 | i 181,556 | i 195,186 | i 890,339 | ||||||||||||
2027 and thereafter |
i 5,319,235 | i 1,434,969 | i 920,018 | i 7,674,222 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
¥ | i 9,253,642 | ¥ | i 21,879,593 | ¥ | i 4,037,806 | ¥ | i 35,171,041 | ||||||||
|
|
|
|
|
|
|
|
13. |
SEVERANCE INDEMNITIES AND PENSION PLANS |
Domestic subsidiaries |
Foreign offices and subsidiaries |
|||||||||||||||||||||||||||||||||||
2019 |
2020 |
2021 |
2019 |
2020 |
2021 |
|||||||||||||||||||||||||||||||
Pension benefits and SIP |
Pension benefits and SIP |
Pension benefits and SIP |
Pension benefits |
Other benefits |
Pension benefits |
Other benefits |
Pension benefits |
Other benefits |
||||||||||||||||||||||||||||
(in millions) |
||||||||||||||||||||||||||||||||||||
Service cost—benefits earned during the fiscal year |
¥ | i 48,352 | ¥ | i 49,194 | ¥ | i 46,861 | ¥ | i 12,395 | ¥ | i 525 | ¥ | i 14,406 | ¥ | i 366 | ¥ | i 13,947 | ¥ | i 229 | ||||||||||||||||||
Interest cost on projected benefit obligation |
i 13,504 | i 10,969 | i 11,091 | i 14,958 | i 1,046 | i 17,370 | i 1,159 | i 14,295 | i 793 | |||||||||||||||||||||||||||
Expected return on plan assets |
( i 74,270 | ) | ( i 74,744 | ) | ( i 71,078 | ) | ( i 33,266 | ) | ( i 2,314 | ) | ( i 31,382 | ) | ( i 1,882 | ) | ( i 31,161 | ) | ( i 2,118 | ) | ||||||||||||||||||
Amortization of net actuarial loss |
i 731 | i 5,641 | i 17,019 | i 9,993 | i 707 | i 8,685 | i 1,162 | i 11,560 | i 208 | |||||||||||||||||||||||||||
Amortization of prior service cost |
( i 1,210 | ) | ( i 1,204 | ) | ( i 1,205 | ) | ( i 3,039 | ) | ( i 2,020 | ) | ( i 2,633 | ) | ( i 1,881 | ) | ( i 2,614 | ) | ( i 448 | ) | ||||||||||||||||||
Loss (gain) on settlements and curtailment |
( i 5,980 | ) | ( i 2,366 | ) | ( i 4,605 | ) | i 49 | — | i 223 | — | i 30 | — | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net periodic benefit cost (income) |
¥ | ( i 18,873 | ) | ¥ | ( i 12,510 | ) | ¥ | ( i 1,917 | ) | ¥ | i 1,090 | ¥ | ( i 2,056 | ) | ¥ | i 6,669 | ¥ | ( i 1,076 | ) | ¥ | i 6,057 | ¥ | ( i 1,336 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic subsidiaries |
Foreign offices and subsidiaries |
|||||||||||||||||||||||||||||||||||
2019 |
2020 |
2021 |
2019 |
2020 |
2021 |
|||||||||||||||||||||||||||||||
Pension benefits and SIP |
Pension benefits and SIP |
Pension benefits and SIP |
Pension benefits |
Other benefits |
Pension benefits |
Other benefits |
Pension benefits |
Other benefits |
||||||||||||||||||||||||||||
Weighted-average assumptions used: |
||||||||||||||||||||||||||||||||||||
Discount rates in determining expense |
i 0.76 | % | i 0.61 | % | i 0.63 | % | i 3.19 | % | i 3.27 | % | i 3.80 | % | i 3.87 | % | i 2.94 | % | i 2.72 | % | ||||||||||||||||||
Discount rates in determining benefit obligation |
i 0.61 | i 0.63 | i 0.71 | i 3.87 | i 3.99 | i 3.05 | i 2.96 | i 2.34 | i 2.23 | |||||||||||||||||||||||||||
Rates of increase in future compensation level for determining expense |
i 3.21 | i 3.21 | i 3.46 | i 4.65 | — | i 5.01 | — | i 5.12 | — | |||||||||||||||||||||||||||
Rates of increase in future compensation level for determining benefit obligation |
i 3.21 | i 3.46 | i 3.46 | i 5.01 | — | i 5.12 | — | i 5.09 | — | |||||||||||||||||||||||||||
Expected rates of return on plan assets |
i 2.83 | i 2.89 | i 2.93 | i 6.70 | i 7.50 | i 6.25 | i 7.00 | i 6.19 | i 7.00 | |||||||||||||||||||||||||||
Cash balance crediting rate for determining expense |
i 2.46 | i 2.46 | i 2.46 | i 2.74 | — | i 3.03 | — | i 2.39 | — | |||||||||||||||||||||||||||
Cash balance crediting rate for determining benefit obligation |
i 2.46 | i 2.46 | i 2.46 | i 3.03 | — | i 2.39 | — | i 1.62 | — |
MUAH |
Other than MUAH |
|||||||||||||||
2020 (1) |
2021 (1) |
2020 (1) |
2021 (1) |
|||||||||||||
Initial trend rate |
i 4.14 | % | i 4.17 | % | i 6.50 | % | i 6.50 | % | ||||||||
Ultimate trend rate |
i 3.77 | % | i 3.78 | % | i 4.50 | % | i 4.50 | % | ||||||||
Year the rate reaches the ultimate trend rate |
i 2027 | i 2028 | i 2027 | i 2028 |
(1) | Fiscal years of MUFG Americas Holdings and foreign subsidiaries end on December 31. Therefore, the above tables present the rates and amounts at December 31, 2019 and 2020, respectively. |
Domestic subsidiaries |
Foreign offices and subsidiaries |
|||||||||||||||||||||||
2020 |
2021 |
2020 |
2021 |
|||||||||||||||||||||
Non-contributory pension benefits and SIP |
Non-contributory pension benefits and SIP |
Pension benefits |
Other benefits |
Pension benefits |
Other benefits |
|||||||||||||||||||
(in millions) |
||||||||||||||||||||||||
Change in benefit obligation: |
||||||||||||||||||||||||
Benefit obligation at beginning of fiscal year |
¥ | i 1,841,884 | ¥ | i 1,807,905 | ¥ | i 469,080 | ¥ | i 31,510 | ¥ | i 547,013 | ¥ | i 32,383 | ||||||||||||
Service cost |
i 49,194 | i 46,861 | i 14,406 | i 366 | i 13,947 | i 229 | ||||||||||||||||||
Interest cost |
i 10,969 | i 11,091 | i 17,370 | i 1,159 | i 14,295 | i 793 | ||||||||||||||||||
Plan participants’ contributions |
— | — | i 28 | i 455 | i 30 | i 440 | ||||||||||||||||||
Acquisitions/ Divestitures |
( i 94 | ) | ( i 2,845 | ) | i 13,000 | — | ( i 260 | ) | — | |||||||||||||||
Amendments |
— | ( i 22 | ) | i 3,721 | — | ( i 1,187 | ) | — | ||||||||||||||||
Actuarial loss (gain) |
( i 3,053 | ) | ( i 21,558 | ) | i 58,831 | (1) |
i 1,648 | i 51,724 | (1) |
i 1,506 | ||||||||||||||
Benefits paid |
( i 66,771 | ) | ( i 65,730 | ) | ( i 21,120 | ) | ( i 2,326 | ) | ( i 20,816 | ) | ( i 2,488 | ) | ||||||||||||
Lump-sum payment |
( i 24,224 | ) | ( i 22,219 | ) | ( i 2,284 | ) | — | ( i 2,825 | ) | — | ||||||||||||||
Translation adjustments and other |
— | — | ( i 6,019 | ) | ( i 429 | ) | ( i 20,968 | ) | ( i 1,509 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Benefit obligation at end of fiscal year |
i 1,807,905 | i 1,753,483 | i 547,013 | i 32,383 | i 580,953 | i 31,354 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Change in plan assets: |
||||||||||||||||||||||||
Fair value of plan assets at beginning of fiscal year |
i 2,594,788 | i 2,432,847 | i 493,495 | i 28,258 | i 559,508 | i 31,919 | ||||||||||||||||||
Actual return on plan assets |
( i 123,802 | ) | i 472,185 | i 92,087 | i 5,695 | i 82,615 | i 5,165 | |||||||||||||||||
Employer contributions |
i 28,653 | i 21,151 | i 2,887 | i 186 | i 3,896 | i 181 | ||||||||||||||||||
Acquisitions/ Divestitures |
( i 21 | ) | ( i 2,440 | ) | i 791 | — | — | — | ||||||||||||||||
Plan participants’ contributions |
— | — | i 28 | i 455 | i 30 | i 440 | ||||||||||||||||||
Benefits paid |
( i 66,771 | ) | ( i 65,730 | ) | ( i 21,120 | ) | ( i 2,326 | ) | ( i 20,816 | ) | ( i 2,488 | ) | ||||||||||||
Translation adjustments and other |
— | i — | ( i 8,660 | ) | ( i 349 | ) | ( i 20,829 | ) | ( i 1,868 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Fair value of plan assets at end of fiscal year |
i 2,432,847 | i 2,858,013 | i 559,508 | i 31,919 | i 604,404 | i 33,349 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Amounts recognized in the consolidated balance sheets: |
||||||||||||||||||||||||
Prepaid benefit cost |
¥ | i 643,520 | ¥ | i 1,122,507 | ¥ | i 81,301 | ¥ | i 4,378 | ¥ | i 94,445 | ¥ | i 6,754 | ||||||||||||
Accrued benefit cost |
( i 18,577 | ) | ( i 17,977 | ) | ( i 68,806 | ) | ( i 4,842 | ) | ( i 70,994 | ) | ( i 4,759 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net amount recognized |
¥ | i 624,943 | ¥ | i 1,104,530 | ¥ | i 12,495 | ¥ | ( i 464 | ) | ¥ | i 23,451 | ¥ | i 1,995 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
(1) | Significant gains and losses related to changes in the benefit obligation for the fiscal years ended March 31, 2020 and 2021 primarily result from changes in the discount rate. |
Domestic subsidiaries |
Foreign offices and subsidiaries |
|||||||||||||||
2020 |
2021 |
2020 |
2021 |
|||||||||||||
(in millions) |
||||||||||||||||
Aggregated accumulated benefit obligations |
¥ | i 1,773,042 | ¥ | i 1,719,798 | ¥ | i 523,078 | ¥ | i 554,375 |
Domestic subsidiaries |
Foreign offices and subsidiaries |
|||||||||||||||
2020 |
2021 |
2020 |
2021 |
|||||||||||||
(in millions) |
||||||||||||||||
Projected benefit obligations |
¥ | i 26,442 | ¥ | i 24,527 | ¥ | i 89,829 | ¥ | i 92,527 | ||||||||
Accumulated benefit obligations |
i 26,442 | i 24,527 | i 67,609 | i 68,720 | ||||||||||||
Fair value of plan assets |
i 7,980 | i 6,738 | i 21,014 | i 21,532 |
Domestic subsidiaries |
Foreign offices and subsidiaries |
|||||||||||||||||||||||
2020 |
2021 |
2020 |
2021 |
|||||||||||||||||||||
Pension benefits and SIP |
Pension benefits and SIP |
Pension benefits |
Other benefits |
Pension benefits |
Other benefits |
|||||||||||||||||||
(in millions) |
||||||||||||||||||||||||
Net actuarial loss |
¥ | i 437,254 | ¥ | i 1,557 | ¥ | i 114,167 | ¥ | i 5,164 | ¥ | i 96,807 | ¥ | i 3,255 | ||||||||||||
Prior service cost |
( i 4,255 | ) | ( i 3,072 | ) | ( i 7,875 | ) | ( i 2,304 | ) | ( i 6,167 | ) | ( i 1,869 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Gross amount recognized in Accumulated OCI |
i 432,999 | ( i 1,515 | ) | i 106,292 | i 2,860 | i 90,640 | i 1,386 | |||||||||||||||||
Taxes |
( i 174,915 | ) | ( i 41,639 | ) | ( i 27,974 | ) | ( i 874 | ) | ( i 23,900 | ) | ( i 489 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net amount recognized in Accumulated OCI |
¥ | i 258,084 | ¥ | ( i 43,154 | ) | ¥ | i 78,318 | ¥ | i 1,986 | ¥ | i 66,740 | ¥ | i 897 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Domestic subsidiaries |
Foreign offices and subsidiaries |
|||||||||||||||||||||||
2020 |
2021 |
2020 |
2021 |
|||||||||||||||||||||
Pension benefits and SIP |
Pension benefits and SIP |
Pension benefits |
Other benefits |
Pension benefits |
Other benefits |
|||||||||||||||||||
(in millions) |
||||||||||||||||||||||||
Net actuarial loss (gain) arising during the year |
¥ | i 195,492 | ¥ | ( i 423,283 | ) | ¥ | ( i 1,732 | ) | ¥ | ( i 2,166 | ) | ¥ | i 319 | ¥ | ( i 1,541 | ) | ||||||||
Prior service cost arising during the year |
— | ( i 22 | ) | i 3,722 | — | ( i 1,187 | ) | — | ||||||||||||||||
Losses (gains) due to amortization: |
||||||||||||||||||||||||
Net actuarial loss |
( i 5,641 | ) | ( i 17,019 | ) | ( i 8,685 | ) | ( i 1,162 | ) | ( i 11,560 | ) | ( i 208 | ) | ||||||||||||
Prior service cost |
i 1,204 | i 1,205 | i 2,633 | i 1,881 | i 2,614 | i 448 | ||||||||||||||||||
Curtailment and settlement |
i 2,366 | i 4,605 | ( i 223 | ) | — | ( i 30 | ) | — | ||||||||||||||||
Foreign currency translation adjustments |
— | — | ( i 1,125 | ) | ( i 58 | ) | ( i 5,808 | ) | ( i 173 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total changes in Accumulated OCI |
¥ | i 193,421 | ¥ | ( i 434,514 | ) | ¥ | ( i 5,410 | ) | ¥ | ( i 1,505 | ) | ¥ | ( i 15,652 | ) | ¥ | ( i 1,474 | ) | |||||||
|
|
|
|
|
|
|
|
|
|
|
|
Domestic subsidiaries |
Foreign offices and subsidiaries |
|||||||||||
Asset category |
Pension benefits and SIP |
Pension benefits |
Other benefits |
|||||||||
Japanese equity securities |
i 36.3 | % | i 0.3 | % | i — | % | ||||||
Japanese debt securities |
i 28.6 | i — | i — | |||||||||
Non-Japanese equity securities |
i 15.7 | i 44.9 | i 63.0 | |||||||||
Non-Japanese debt securities |
i 13.9 | i 43.0 | i 27.0 | |||||||||
Real estate |
i 1.4 | i 10.0 | i 10.0 | |||||||||
Short-term assets |
i 4.1 | i 1.8 | i — | |||||||||
|
|
|
|
|
|
|||||||
Total |
i 100.0 | % | i 100.0 | % | i 100.0 | % | ||||||
|
|
|
|
|
|
• | Japanese equity securities: the rate for Japanese debt securities plus a premium for the risk associated with Japanese equity securities |
• | Japanese debt securities: economic growth rate of Japan |
• | Non-Japanese equity securities: the rate for non-Japanese debt securities plus a premium for the risk associated with non-Japanese equity securities |
• | Non-Japanese debt securities: global economic growth rate |
Domestic subsidiaries |
Foreign offices and subsidiaries |
|||||||||||
Pension benefits and SIP |
Pension benefits |
Other benefits |
||||||||||
(in millions) |
||||||||||||
Fiscal year ending March 31: |
||||||||||||
2022 |
¥ | i 82,295 | ¥ | i 23,248 | ¥ | i 1,976 | ||||||
2023 |
i 80,857 | i 24,078 | i 2,012 | |||||||||
2024 |
i 81,015 | i 25,322 | i 2,032 | |||||||||
2025 |
i 80,709 | i 26,245 | i 2,004 | |||||||||
2026 |
i 79,277 | i 28,020 | i 1,950 | |||||||||
Thereafter (2027-2031) |
i 387,189 | i 173,667 | i 8,272 |
Domestic subsidiaries |
Foreign offices and subsidiaries |
|||||||||||||||||||||||||||||||
Assets category |
Level 1 |
Level 2 |
Level 3 |
Total |
Level 1 |
Level 2 |
Level 3 |
Total |
||||||||||||||||||||||||
(in millions) |
||||||||||||||||||||||||||||||||
Japanese government bonds |
¥ | i 147,926 | ¥ | — | ¥ | — | ¥ | i 147,926 | ¥ | — | ¥ | — | ¥ | — | ¥ | — | ||||||||||||||||
Non-Japanese government bonds |
— | — | — | — | i 42,135 | i 5,185 | — | i 47,320 | ||||||||||||||||||||||||
Other debt securities |
i 7,014 | i 12,113 | i 325 | i 19,452 | — | i 105,096 | — | i 105,096 | ||||||||||||||||||||||||
Japanese marketable equity securities |
i 690,741 | — | — | i 690,741 | — | — | — | — | ||||||||||||||||||||||||
Non-Japanese marketable equity securities |
i 47,655 | i 235 | — | i 47,890 | i 26,981 | i 616 | — | i 27,597 | ||||||||||||||||||||||||
Other investment funds |
— | — | — | — | i 81,803 | i 150,121 | — | i 231,924 | (2) | |||||||||||||||||||||||
Japanese general account of life insurance companies (1) |
— | i 217,898 | — | i 217,898 | — | — | — | — | ||||||||||||||||||||||||
Other investments |
i 6,547 | i 32,150 | — | i 38,697 | i 480 | i 1,937 | i 250 | i 2,667 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Total |
¥ | i 899,883 | ¥ | i 262,396 | ¥ | i 325 | ¥ | i 1,162,604 | ¥ | i 151,399 | ¥ | i 262,955 | ¥ | i 250 | ¥ | i 414,604 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Domestic subsidiaries |
Foreign offices and subsidiaries |
|||||||||||||||||||||||||||||||
Assets category |
Level 1 |
Level 2 |
Level 3 |
Total |
Level 1 |
Level 2 |
Level 3 |
Total |
||||||||||||||||||||||||
(in millions) |
||||||||||||||||||||||||||||||||
Japanese government bonds |
¥ | i 145,236 | ¥ | — | ¥ | — | ¥ | i 145,236 | ¥ | — | ¥ | — | ¥ | — | ¥ | — | ||||||||||||||||
Non-Japanese government bonds |
— | — | — | — | i 44,105 | i 4,645 | — | i 48,750 | ||||||||||||||||||||||||
Other debt securities |
i 10,136 | i 14,065 | i 230 | i 24,431 | — | i 117,696 | — | i 117,696 | ||||||||||||||||||||||||
Japanese marketable equity securities |
i 862,096 | — | — | i 862,096 | — | — | — | — | ||||||||||||||||||||||||
Non-Japanese marketable equity securities |
i 81,525 | i 588 | — | i 82,113 | i 34,584 | i 671 | — | i 35,255 | ||||||||||||||||||||||||
Other investment funds |
— | — | — | i — | i 76,520 | i 164,810 | — | i 241,330 | (2) | |||||||||||||||||||||||
Japanese general account of life insurance companies (1) |
— | i 217,827 | — | i 217,827 | — | — | — | — | ||||||||||||||||||||||||
Other investments |
i 8,390 | i 5,092 | — | i 13,482 | i 812 | i 13,502 | i 333 | i 14,647 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Total |
¥ | i 1,107,383 | ¥ | i 237,572 | ¥ | i 230 | ¥ | i 1,345,185 | ¥ | i 156,021 | ¥ | i 301,324 | ¥ | i 333 | ¥ | i 457,678 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) | “Japanese general accounts of life insurance companies” is a contract with life insurance companies that guarantees a return of approximately i 1.24% from April 1, 2019 to March 31, 2020 and i 1.25% from April 1, 2020 to March 31, 2021. |
(2) | Other investment funds of the foreign offices and subsidiaries include mutual funds and common collective funds of ¥ i 81,768 million and ¥ i 119,307 million, respectively, which were held by MUFG Americas Holdings at December 31, 2019 and ¥ i 80,717 million and ¥ i 128,005 million, respectively, at December 31, 2020. |
Domestic subsidiaries |
Foreign offices and subsidiaries |
|||||||||||||||
Assets category |
2020 |
2021 |
2020 |
2021 |
||||||||||||
(in millions) |
||||||||||||||||
Japanese pooled funds: |
||||||||||||||||
Japanese marketable equity securities |
¥ | i 125,218 | ¥ | i 118,509 | ¥ | — | ¥ | — | ||||||||
Japanese debt securities |
i 212,727 | i 324,700 | — | — | ||||||||||||
Non-Japanese marketable equity securities |
i 146,796 | i 90,598 | — | — | ||||||||||||
Non-Japanese debt securities |
i 169,978 | i 215,015 | — | — | ||||||||||||
Other |
i 100,798 | i 153,483 | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total pooled funds |
i 755,517 | i 902,305 | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Other investment funds |
i 514,726 | (1) |
i 610,523 | (1) |
i 144,904 | (2) |
i 146,726 | (2) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
¥ | i 1,270,243 | ¥ | i 1,512,828 | ¥ | i 144,904 | ¥ | i 146,726 | ||||||||
|
|
|
|
|
|
|
|
(1) | Other investment funds of the domestic subsidiaries include mutual funds and real estate funds of ¥ i 486,496 million and ¥ i 13,891 million, respectively, at March 31, 2020 and ¥ i 580,617 million and ¥ i 14,763 million, respectively, at March 31, 2021. |
(2) | Other investment funds of the foreign offices and subsidiaries include mutual funds, real estate funds and common collective funds of ¥ i 56,125 million, ¥ i 54,474 million and ¥ i 34,098 million, respectively, at March 31, 2020 and ¥ i 58,086 million, ¥ i 51,318 million and ¥ i 37,161 million, respectively, at March 31, 2021. |
2020 |
2021 |
|||||||
(in millions) |
||||||||
Other assets: |
||||||||
Accounts receivable: |
||||||||
Receivables from brokers, dealers and customers for securities transactions |
¥ | i 1,191,690 | ¥ | i 400,776 | ||||
Other (1) |
i 1,212,511 | i 1,162,424 | ||||||
Investments in equity method investees |
i 2,421,154 | i 2,560,339 | ||||||
Prepaid benefit cost (Note 13) |
i 729,199 | i 1,223,706 | ||||||
Cash collateral pledged for derivative transactions (Note 9) |
i 1,696,108 | i 2,005,136 | ||||||
Cash collateral for the use of Bank of Japan’s settlement infrastructure |
i 965,546 | i 998,838 | ||||||
Accrued interest |
i 308,448 | i 259,336 | ||||||
Deferred tax assets (Note 8) |
i 113,031 | i 122,031 | ||||||
Right-of-use |
i 393,435 | i 338,547 | ||||||
Other |
i 4,077,577 | i 4,250,171 | ||||||
|
|
|
|
|||||
Total |
¥ | i 13,108,699 | ¥ | i 13,321,304 | ||||
|
|
|
|
|||||
Other liabilities: |
||||||||
Accounts payable: |
||||||||
Payables to brokers, dealers and customers for securities transactions |
¥ | i 1,078,653 | ¥ | i 1,202,371 | ||||
Other |
i 1,251,260 | i 1,281,436 | ||||||
Obligations to return securities received as collateral (Notes 15, 16 and 31) |
i 4,806,171 | i 6,581,759 | ||||||
Accrued interest |
i 187,096 | i 110,856 | ||||||
Deferred tax liabilities (Note 8) |
i 541,368 | i 827,571 | ||||||
Allowance for off-balance sheet credit instruments |
i 56,995 | i 83,615 | ||||||
Accrued benefit cost (Note 13) |
i 92,225 | i 93,730 | ||||||
Guarantees and indemnifications |
i 39,601 | i 38,123 | ||||||
Cash collateral received for derivative transactions (Note 9) |
i 1,125,305 | i 909,641 | ||||||
Obligations under operating leases (Note 7) |
i 482,813 | i 476,104 | ||||||
Accrued and other liabilities |
i 3,562,359 | i 3,465,614 | ||||||
|
|
|
|
|||||
Total |
¥ | i 13,223,846 | ¥ | i 15,070,820 | ||||
|
|
|
|
(1) | Accounts receivable—Other is primarily comprised of receivables relating to the card business. The provision or reversal of the allowance for credit losses relating to the receivables is included in Non-interest expense on the condensed consolidated statements of income. The receivables relating to the card business include ¥ i 4,980 million of past due receivables (1-3 months past due receivables of ¥ i 2,252 million
and greater than 3 months past due receivables of ¥ i 2,728 million) as of March 31, 2021, and the credit quality for these receivables is primarily evaluated based on the extent of past due. The outstanding balance of the accounts receivable is presented on a net basis after allowance
for credit losses. Upon adoption of the new guidance on measurement of credit losses on financial instruments as of April 1, 2020, the amount of the allowance for credit losses increased by on these receivables during the period ended March 31,
2021 is primarily due to provision of the allowance for the receivables. |
2020 |
2021 |
|||||||
(in billions) |
||||||||
Trading assets |
¥ | i 29,484 | ¥ | i 34,670 | ||||
Securities purchased under agreements to resell |
i 11,405 | i 12,701 | ||||||
Securities borrowed |
i 7,868 | i 11,309 | ||||||
Total assets |
i 103,149 | i 128,288 | ||||||
Deposits |
i 25,601 | i 35,775 | ||||||
Customer and other payables |
i 21,556 | i 25,477 | ||||||
Borrowings |
i 21,206 | i 23,894 | ||||||
Total liabilities |
i 93,656 | i 116,377 | ||||||
Noncontrolling interests |
i 149 | i 147 |
2019 |
2020 |
2021 |
||||||||||
(in billions) |
||||||||||||
Net revenues |
¥ |
i 4,363 |
¥ |
i 4,457 |
¥ |
i 5,841 |
||||||
Total non-interest expenses |
i 3,168 |
i 3,259 |
i 3,932 |
|||||||||
Income from continuing operations before income taxes |
i 1,195 |
i 1,140 |
i 1,881 |
|||||||||
Net income applicable to Morgan Stanley |
i 944 |
i 903 |
i 1,433 |
2020 |
2021 |
|||||||
(in billions) |
||||||||
Net loans |
¥ | i 15,190 | ¥ | i 15,417 | ||||
Total assets |
i 29,255 | i 28,459 | ||||||
Deposits |
i 8,898 | i 9,651 | ||||||
Total liabilities |
i 24,025 | i 24,176 | ||||||
Noncontrolling interests |
i 1,005 | i 85 |
2019 |
2020 |
2021 |
||||||||||
(in billions) |
||||||||||||
Total interest income |
¥ | i 1,036 | ¥ | i 1,093 | ¥ | i 1,058 | ||||||
Total interest expense |
i 430 | i 419 | i 375 | |||||||||
Net interest income |
i 606 | i 674 | i 683 | |||||||||
Provision for credit losses |
i 157 | i 171 | i 215 | |||||||||
Income before income tax expense |
i 205 | i 366 | i 476 | |||||||||
Net income |
i 135 | i 285 | i 400 |
15. |
OFFSETTING OF DERIVATIVES, REPURCHASE AGREEMENTS, AND SECURITIES LENDING TRANSACTIONS |
Gross amounts of recognized assets/liabilities |
Gross amounts offset in the consolidated balance sheet |
Net amounts presented in the consolidated balance sheet |
Gross amounts not offset in the consolidated balance sheet |
Net amounts |
||||||||||||||||||||
Financial instruments |
Cash collateral received/pledged |
|||||||||||||||||||||||
(in billions) |
||||||||||||||||||||||||
Financial assets: |
||||||||||||||||||||||||
Derivative assets |
¥ | i 14,958 | ¥ | — | ¥ | i 14,958 | ¥ | ( i 11,282 | ) | ¥ | ( i 874 | ) | ¥ | i 2,802 | ||||||||||
Receivables under resale agreements |
i 25,884 | ( i 1,888 | ) | i 23,996 | ( i 23,195 | ) | ( i 21 | ) | i 780 | |||||||||||||||
Receivables under securities borrowing transactions |
i 3,444 | — | i 3,444 | ( i 3,336 | ) | — | i 108 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total |
¥ | i 44,286 | ¥ | ( i 1,888 | ) | ¥ | i 42,398 | ¥ | ( i 37,813 | ) | ¥ | ( i 895 | ) | ¥ | i 3,690 | |||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Financial liabilities: |
||||||||||||||||||||||||
Derivative liabilities |
¥ | i 14,034 | ¥ | — | ¥ | i 14,034 | ¥ | ( i 11,296 | ) | ¥ | ( i 1,140 | ) | ¥ | i 1,598 | ||||||||||
Payables under repurchase agreements |
i 33,733 | ( i 1,883 | ) | i 31,850 | ( i 31,569 | ) | ( i 34 | ) | i 247 | |||||||||||||||
Payables under securities lending transactions |
i 1,017 | — | i 1,017 | ( i 986 | ) | — | i 31 | |||||||||||||||||
Obligations to return securities received as collateral |
i 4,806 | — | i 4,806 | ( i 1,966 | ) | — | i 2,840 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total |
¥ | i 53,590 | ¥ | ( i 1,883 | ) | ¥ | i 51,707 | ¥ | ( i 45,817 | ) | ¥ | ( i 1,174 | ) | ¥ | i 4,716 | |||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Gross amounts of recognized assets/liabilities |
Gross amounts offset in the consolidated balance sheet |
Net amounts presented in the consolidated balance sheet |
Gross amounts not offset in the consolidated balance sheet |
Net amounts |
||||||||||||||||||||
Financial instruments |
Cash collateral received/pledged |
|||||||||||||||||||||||
(in billions) |
||||||||||||||||||||||||
Financial assets: |
||||||||||||||||||||||||
Derivative assets |
¥ | i 11,997 | ¥ | — | ¥ | i 11,997 | ¥ | ( i 8,628 | ) | ¥ | ( i 605 | ) | ¥ | i 2,764 | ||||||||||
Receivables under resale agreements |
i 16,053 | ( i 2,273 | ) | i 13,780 | ( i 12,687 | ) | ( i 37 | ) | i 1,056 | |||||||||||||||
Receivables under securities borrowing transactions |
i 3,370 | — | i 3,370 | ( i 3,289 | ) | — | i 81 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total |
¥ | i 31,420 | ¥ | ( i 2,273 | ) | ¥ | i 29,147 | ¥ | ( i 24,604 | ) | ¥ | ( i 642 | ) | ¥ | i 3,901 | |||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Financial liabilities: |
||||||||||||||||||||||||
Derivative liabilities |
¥ | i 11,714 | ¥ | — | ¥ | i 11,714 | ¥ | ( i 8,545 | ) | ¥ | ( i 1,624 | ) | ¥ | i 1,545 | ||||||||||
Payables under repurchase agreements |
i 26,800 | ( i 2,232 | ) | i 24,568 | ( i 23,835 | ) | ( i 60 | ) | i 673 | |||||||||||||||
Payables under securities lending transactions |
i 843 | — | i 843 | ( i 814 | ) | ( i 2 | ) | i 27 | ||||||||||||||||
Obligations to return securities received as collateral |
i 6,582 | — | i 6,582 | ( i 1,931 | ) | — | i 4,651 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total |
¥ | i 45,939 | ¥ | ( i 2,232 | ) | ¥ | i 43,707 | ¥ | ( i 35,125 | ) | ¥ | ( i 1,686 | ) | ¥ | i 6,896 | |||||||||
|
|
|
|
|
|
|
|
|
|
|
|
16. |
REPURCHASE AGREEMENTS, AND SECURITIES LENDING TRANSACTIONS ACCOUNTED FOR AS SECURED BORROWINGS |
Remaining Contractual Maturity |
||||||||||||||||||||
Overnight and open |
30 days or less |
31-90 days |
Over 90 days |
Total |
||||||||||||||||
(in billions) |
||||||||||||||||||||
Payables under repurchase agreements |
¥ | i 9,685 | ¥ | i 16,608 | ¥ | i 4,496 | ¥ | i 2,944 | ¥ | i 33,733 | ||||||||||
Payables under securities lending transactions |
i 934 | i 64 | i 19 | — | i 1,017 | |||||||||||||||
Obligations to return securities received as collateral |
i 3,856 | i 599 | i 276 | i 75 | i 4,806 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total |
¥ | i 14,475 | ¥ | i 17,271 | ¥ | i 4,791 | ¥ | i 3,019 | ¥ | i 39,556 | ||||||||||
|
|
|
|
|
|
|
|
|
|
Remaining Contractual Maturity |
||||||||||||||||||||
Overnight and open |
30 days or less |
31-90 days |
Over 90 days |
Total |
||||||||||||||||
(in billions) |
||||||||||||||||||||
Payables under repurchase agreements |
¥ | i 6,006 | ¥ | i 16,888 | ¥ | i 1,973 | ¥ | i 1,933 | ¥ | i 26,800 | ||||||||||
Payables under securities lending transactions |
i 789 | i 26 | i 28 | — | i 843 | |||||||||||||||
Obligations to return securities received as collateral |
i 5,607 | i 278 | i 528 | i 169 | i 6,582 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total |
¥ | i 12,402 | ¥ | i 17,192 | ¥ | i 2,529 | ¥ | i 2,102 | ¥ | i 34,225 | ||||||||||
|
|
|
|
|
|
|
|
|
|
Payables under repurchase agreements |
Payables under securities lending transactions |
Obligations to return securities received as collateral |
Total |
|||||||||||||
(in billions) |
||||||||||||||||
Japanese national government and Japanese government agency bonds |
¥ | i 10,687 | ¥ | i 38 | ¥ | i 2,241 | ¥ | i 12,966 | ||||||||
Foreign government and official institution bonds |
i 17,326 | i 57 | i 873 | i 18,256 | ||||||||||||
Corporate bonds |
i 784 | — | i 183 | i 967 | ||||||||||||
Residential mortgage-backed securities |
i 4,248 | — | i 10 | i 4,258 | ||||||||||||
Other debt securities |
i 157 | — | i 2 | i 159 | ||||||||||||
Marketable equity securities |
i 506 | i 914 | i 1,497 | i 2,917 | ||||||||||||
Other |
i 25 | i 8 | — | i 33 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
¥ | i 33,733 | ¥ | i 1,017 | ¥ | i 4,806 | ¥ | i 39,556 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Payables under repurchase agreements |
Payables under securities lending transactions |
Obligations to return securities received as collateral |
Total |
|||||||||||||
(in billions) |
||||||||||||||||
Japanese national government and Japanese government agency bonds |
¥ | i 7,754 | ¥ | i 104 | ¥ | i 4,022 | ¥ | i 11,880 | ||||||||
Foreign government and official institution bonds |
i 13,914 | i 17 | i 738 | i 14,669 | ||||||||||||
Corporate bonds |
i 702 | i 1 | i 214 | i 917 | ||||||||||||
Residential mortgage-backed securities |
i 3,729 | — | — | i 3,729 | ||||||||||||
Other debt securities |
i 218 | — | i 5 | i 223 | ||||||||||||
Marketable equity securities |
i 462 | i 721 | i 1,603 | i 2,786 | ||||||||||||
Other |
i 21 | — | — | i 21 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
¥ | i 26,800 | ¥ | i 843 | ¥ | i 6,582 | ¥ | i 34,225 | ||||||||
|
|
|
|
|
|
|
|
17. |
PREFERRED STOCK |
18. |
COMMON STOCK AND CAPITAL SURPLUS |
2019 |
2020 |
2021 |
||||||||||
(shares) |
||||||||||||
Balance at beginning of fiscal year |
i 13,900,028,020 | i 13,667,770,520 | i 13,581,995,120 | |||||||||
Retirement of shares of common stock |
( i 232,257,500 | ) | ( i 85,775,400 | ) | i — | |||||||
|
|
|
|
|
|
|||||||
Balance at end of fiscal year |
i 13,667,770,520 | i 13,581,995,120 | i 13,581,995,120 | |||||||||
|
|
|
|
|
|
19. |
RETAINED EARNINGS, LEGAL RESERVE AND DIVIDENDS |
20. |
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) |
2019 |
2020 |
2021 |
||||||||||
(in millions) |
||||||||||||
Accumulated other comprehensive income (loss), net of taxes: |
||||||||||||
Net unrealized gains (losses) on investment securities: |
||||||||||||
Balance at beginning of fiscal year |
¥ | i 2,270,346 | ¥ | ( i 369,369 | ) | ¥ | ( i 344,785 | ) | ||||
Net change during the fiscal year |
i 60,616 | i 24,584 | ( i 38,253 | ) | ||||||||
Effect of adopting new guidance on recognition and measurement of financial assets and financial liabilities |
( i 2,700,331 | ) | — | — | ||||||||
Effect of adopting new guidance on measurement of credit losses on financial instruments |
— | — | i 34 |
|||||||||
|
|
|
|
|
|
|||||||
Balance at end of fiscal year |
¥ | ( i 369,369 | ) | ¥ | ( i 344,785 | ) | ¥ | ( i 383,004 | ) | |||
|
|
|
|
|
|
|||||||
Net debt valuation adjustments: |
||||||||||||
Balance at beginning of fiscal year |
¥ | ( i 16,488 | ) | ¥ | ( i 8,670 | ) | ¥ | i 45,502 | ||||
Net change during the fiscal year |
i 9,729 | i 54,172 | ( i 83,364 | ) | ||||||||
Effect of adopting new guidance on recognition and measurement of financial assets and financial liabilities |
( i 1,911 | ) | — | — | ||||||||
|
|
|
|
|
|
|||||||
Balance at end of fiscal year |
¥ | ( i 8,670 | ) | ¥ | i 45,502 | ¥ | ( i 37,862 | ) | ||||
|
|
|
|
|
|
|||||||
Net unrealized gains (losses) on derivatives qualifying for cash flow hedges: |
||||||||||||
Balance at beginning of fiscal year |
¥ | ( i 19,250 | ) | ¥ | ( i 24,140 | ) | ¥ | ( i 13,343 | ) | |||
Net change during the fiscal year |
( i 4,890 | ) | i 10,797 | i 32,372 | ||||||||
|
|
|
|
|
|
|||||||
Balance at end of fiscal year |
¥ | ( i 24,140 | ) | ¥ | ( i 13,343 | ) | ¥ | i 19,029 | ||||
|
|
|
|
|
|
|||||||
Defined benefit plans: |
||||||||||||
Balance at beginning of fiscal year |
¥ | ( i 119,593 | ) | ¥ | ( i 208,273 | ) | ¥ | ( i 337,918 | ) | |||
Net change during the fiscal year |
( i 88,680 | ) | ( i 129,645 | ) | i 317,536 | |||||||
|
|
|
|
|
|
|||||||
Balance at end of fiscal year |
¥ | ( i 208,273 | ) | ¥ | ( i 337,918 | ) | ¥ | ( i 20,382 | ) | |||
|
|
|
|
|
|
|||||||
Foreign currency translation adjustments: |
||||||||||||
Balance at beginning of fiscal year |
¥ | i 362,300 | ¥ | i 326,183 | ¥ | i 230,127 | ||||||
Net change during the fiscal year |
( i 36,117 | ) | ( i 96,056 | ) | ( i 97,389 | ) | ||||||
|
|
|
|
|
|
|||||||
Balance at end of fiscal year |
¥ | i 326,183 | ¥ | i 230,127 | ¥ | i 132,738 | ||||||
|
|
|
|
|
|
|||||||
Balance at end of fiscal year |
¥ | ( i 284,269 | ) | ¥ | ( i 420,417 | ) | ¥ | ( i 289,481 | ) | |||
|
|
|
|
|
|
2019 |
2020 |
2021 |
||||||||||||||||||||||||||||||||||
Before tax |
Tax (expense) or benefit |
Net of tax |
Before tax |
Tax (expense) or benefit |
Net of tax |
Before tax |
Tax (expense) or benefit |
Net of tax |
||||||||||||||||||||||||||||
(in millions) |
||||||||||||||||||||||||||||||||||||
Net unrealized gains (losses) on investment securities: |
||||||||||||||||||||||||||||||||||||
Net unrealized gains (losses) on investment securities |
¥ | i 132,723 | ¥ | ( i 24,690 | ) | ¥ | i 108,033 | ¥ | i 100,974 | ¥ | ( i 2,260 | ) | ¥ | i 98,714 | ¥ | ( i 69,247 | ) | ¥ | ( i 599 | ) | ¥ | ( i 69,846 | ) | |||||||||||||
Reclassification adjustment for losses (gains) included in net income before attribution of noncontrolling interests |
( i 28,953 | ) | i 9,100 | ( i 19,853 | ) | ( i 107,102 | ) | i 32,007 | ( i 75,095 | ) | ( i 383 | ) | ( i 547 | ) | ( i 930 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net change |
i 103,770 | ( i 15,590 | ) | i 88,180 | ( i 6,128 | ) | i 29,747 | i 23,619 | ( i 69,630 | ) | ( i 1,146 | ) | ( i 70,776 | ) | ||||||||||||||||||||||
Net unrealized gains (losses) on investment securities attributable to noncontrolling interests |
i 27,564 | ( i 965 | ) | ( i 32,523 | ) | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Net unrealized gains (losses) on investment securities attributable to Mitsubishi UFJ Financial Group |
i 60,616 | i 24,584 | ( i 38,253 | ) | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Net debt valuation adjustments: |
||||||||||||||||||||||||||||||||||||
Net debt valuation adjustments |
i 13,006 | ( i 3,982 | ) | i 9,024 | i 77,765 | ( i 23,812 | ) | i 53,953 | ( i 126,007 | ) | i 38,584 | ( i 87,423 | ) | |||||||||||||||||||||||
Reclassification adjustment for losses included in net income before attribution of noncontrolling interests |
i 1,016 | ( i 311 | ) | i 705 | i 315 | ( i 96 | ) | i 219 | i 5,851 | ( i 1,792 | ) | i 4,059 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net change |
i 14,022 | ( i 4,293 | ) | i 9,729 | i 78,080 | ( i 23,908 | ) | i 54,172 | ( i 120,156 | ) | i 36,792 | ( i 83,364 | ) | |||||||||||||||||||||||
Net debt valuation adjustments attributable to noncontrolling interests |
i — | i — | i — | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Net debt valuation adjustments attributable to Mitsubishi UFJ Financial Group |
i 9,729 | i 54,172 | ( i 83,364 | ) | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Net unrealized gains (losses) on derivatives qualifying for cash flow hedges: |
||||||||||||||||||||||||||||||||||||
Net unrealized gains (losses) on derivatives qualifying for cash flow hedges |
( i 10,397 | ) | i 2,825 | ( i 7,572 | ) | i 1,375 | ( i 560 | ) | i 815 | i 44,255 | ( i 12,359 | ) | i 31,896 | |||||||||||||||||||||||
Reclassification adjustment for losses (gains) included in net income before attribution of noncontrolling interests |
i 3,662 | ( i 980 | ) | i 2,682 | i 13,279 | ( i 3,452 | ) | i 9,827 | i 164 | i 115 | i 279 | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net change |
( i 6,735 | ) | i 1,845 | ( i 4,890 | ) | i 14,654 | ( i 4,012 | ) | i 10,642 | i 44,419 | ( i 12,244 | ) | i 32,175 |
2019 |
2020 |
2021 |
||||||||||||||||||||||||||||||||||
Before tax |
Tax (expense) or benefit |
Net of tax |
Before tax |
Tax (expense) or benefit |
Net of tax |
Before tax |
Tax (expense) or benefit |
Net of tax |
||||||||||||||||||||||||||||
(in millions) |
||||||||||||||||||||||||||||||||||||
Net unrealized losses on derivatives qualifying for cash flow hedges attributable to noncontrolling interests |
i — | ( i 155 | ) | ( i 197 | ) | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Net unrealized gains (losses) on derivatives qualifying for cash flow hedges attributable to Mitsubishi UFJ Financial Group |
( i 4,890 | ) | i 10,797 | i 32,372 | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Defined benefit plans: |
||||||||||||||||||||||||||||||||||||
Defined benefit plans |
( i 126,001 | ) | i 37,655 | ( i 88,346 | ) | ( i 195,851 | ) | i 59,426 | ( i 136,425 | ) | i 436,435 | ( i 133,404 | ) | i 303,031 | ||||||||||||||||||||||
Reclassification adjustment for losses (gains) included in net income before attribution of noncontrolling interests |
( i 1,168 | ) | i 574 | ( i 594 | ) | i 6,643 | ( i 1,741 | ) | i 4,902 | i 22,504 | ( i 6,479 | ) | i 16,025 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net change |
( i 127,169 | ) | i 38,229 | ( i 88,940 | ) | ( i 189,208 | ) | i 57,685 | ( i 131,523 | ) | i 458,939 | ( i 139,883 | ) | i 319,056 | ||||||||||||||||||||||
Defined benefit plans attributable to noncontrolling interests |
( i 260 | ) | ( i 1,878 | ) | i 1,520 | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Defined benefit plans attributable to Mitsubishi UFJ Financial Group |
( i 88,680 | ) | ( i 129,645 | ) | i 317,536 | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Foreign currency translation adjustments: |
||||||||||||||||||||||||||||||||||||
Foreign currency translation adjustments |
( i 18,062 | ) | ( i 17,932 | ) | ( i 35,994 | ) | ( i 99,520 | ) | i 19,588 | ( i 79,932 | ) | ( i 61,085 | ) | ( i 14,370 | ) | ( i 75,455 | ) | |||||||||||||||||||
Reclassification adjustment for losses (gains) included in net income before attribution of noncontrolling interests |
( i 9,002 | ) | i 2,784 | ( i 6,218 | ) | ( i 2,238 | ) | i 1,105 | ( i 1,133 | ) | ( i 57,534 | ) | i 17,738 | ( i 39,796 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net change |
( i 27,064 | ) | ( i 15,148 | ) | ( i 42,212 | ) | ( i 101,758 | ) | i 20,693 | ( i 81,065 | ) | ( i 118,619 | ) | i 3,368 | ( i 115,251 | ) | ||||||||||||||||||||
Foreign currency translation adjustments attributable to noncontrolling interests |
( i 6,095 | ) | i 14,991 | ( i 17,862 | ) | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Foreign currency translation adjustments attributable to Mitsubishi UFJ Financial Group |
( i 36,117 | ) | ( i 96,056 | ) | ( i 97,389 | ) | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Other comprehensive income (loss) attributable to Mitsubishi UFJ Financial Group |
¥ |
( i 59,342 |
) |
¥ |
( i 136,148) |
¥ |
i 130,902 |
|||||||||||||||||||||||||||||
|
|
|
|
|
|
2019 |
2020 |
2021 |
||||||||||||
Details of Accumulated OCI components |
Amount reclassified out of Accumulated OCI |
Line items in the consolidated statements of income | ||||||||||||
(in millions) |
||||||||||||||
Net unrealized losses (gains) on investment securities |
||||||||||||||
Net losses (gains) on sales and redemptions of Available-for-sale |
¥ | ( i 29,182 | ) | ¥ | ( i 108,193 | ) | ¥ | i 6,410 | Investment securities gains (losses)—net | |||||
Impairment losses on investment securities |
i 596 | i 1,590 | i 6 | Investment securities gains (losses)—net | ||||||||||
Other |
( i 367 | ) | ( i 499 | ) | ( i 6,799 | ) | ||||||||
|
|
|
|
|
|
|||||||||
( i 28,953 | ) | ( i 107,102 | ) | ( i 383 | ) | Total before tax | ||||||||
i 9,100 | i 32,007 | ( i 547 | ) | Income tax expense | ||||||||||
|
|
|
|
|
|
|||||||||
¥ | ( i 19,853 | ) | ¥ | ( i 75,095 | ) | ¥ | ( i 930 | ) | Net of tax | |||||
|
|
|
|
|
|
|||||||||
Net debt valuation adjustments |
¥ | i 1,016 | ¥ | i 315 | ¥ | i 5,851 | Equity in earnings of equity method investees—net or Other non-interest income | |||||||
|
|
|
|
|
|
|||||||||
i 1,016 | i 315 | i 5,851 | Total before tax | |||||||||||
( i 311 | ) | ( i 96 | ) | ( i 1,792 | ) | Income tax expense | ||||||||
|
|
|
|
|
|
|||||||||
¥ | i 705 | ¥ | i 219 | ¥ | i 4,059 | Net of tax | ||||||||
|
|
|
|
|
|
|||||||||
Net unrealized losses (gains) on derivatives qualifying for cash flow hedges Interest rate contracts |
¥ | i 3,739 | ¥ | i 9,878 | ¥ | ( i 3,579 | ) | Interest income on Loans, including fees | ||||||
Foreign exchange contracts |
— | i 3,399 | i 3,743 | Interest expense on Long- term debt or Foreign exchange losses—net | ||||||||||
Other |
( i 77 | ) | i 2 | — | ||||||||||
|
|
|
|
|
|
|||||||||
i 3,662 | i 13,279 | i 164 | Total before tax | |||||||||||
( i 980 | ) | ( i 3,452 | ) | i 115 | Income tax expense | |||||||||
|
|
|
|
|
|
|||||||||
¥ | i 2,682 | ¥ | i 9,827 | ¥ | i 279 | Net of tax | ||||||||
|
|
|
|
|
|
|||||||||
Defined benefit plans |
||||||||||||||
Net actuarial loss (1) |
¥ | i 11,431 | ¥ | i 15,488 | ¥ | i 28,787 | Other non-interest expenses | |||||||
Prior service cost (1) |
( i 6,269 | ) | ( i 5,718 | ) | ( i 4,267 | ) | Other non-interest expenses | |||||||
Gain on settlements and curtailment, and other (1) |
( i 6,330 | ) | ( i 3,127 | ) | ( i 2,016 | ) | Other non-interest income or expenses | |||||||
|
|
|
|
|
|
|||||||||
( i 1,168 | ) | i 6,643 | i 22,504 | Total before tax | ||||||||||
i 574 | ( i 1,741 | ) | ( i 6,479 | ) | Income tax expense | |||||||||
|
|
|
|
|
|
|||||||||
¥ | ( i 594 | ) | ¥ | i 4,902 | ¥ | i 16,025 | Net of tax | |||||||
|
|
|
|
|
|
|||||||||
Foreign currency translation adjustments |
¥ | ( i 9,004 | ) | ¥ | ( i 5,003 | ) | ¥ | ( i 57,561 | ) | Other non-interest income | ||||
i 2 | i 2,765 | i 27 | Other non-interest expenses | |||||||||||
|
|
|
|
|
|
|||||||||
( i 9,002 | ) | ( i 2,238 | ) | ( i 57,534 | ) | Total before tax | ||||||||
i 2,784 | i 1,105 | i 17,738 | Income tax expense | |||||||||||
|
|
|
|
|
|
|||||||||
¥ | ( i 6,218 | ) | ¥ | ( i 1,133 | ) | ¥ | ( i 39,796 | ) | Net of tax | |||||
|
|
|
|
|
|
|||||||||
Total reclassifications for the period |
¥ | ( i 34,445 | ) | ¥ | ( i 89,103 | ) | ¥ | ( i 29,398 | ) | Total before tax | ||||
i 11,167 | i 27,823 | i 9,035 | Income tax expense | |||||||||||
|
|
|
|
|
|
|||||||||
¥ | ( i 23,278 | ) | ¥ | ( i 61,280 | ) | ¥ | ( i 20,363 | ) | Net of tax | |||||
|
|
|
|
|
|
(1) | These Accumulated OCI components are components of net periodic benefit cost. See Note 13 for more information. |
21. |
REGULATORY CAPITAL REQUIREMENTS |
• | the Advanced Internal Ratings-Based Approach for credit risk |
• | the Internal Models Approach for market risk |
• | the Standardized Approach and AMA for operational risk |
Actual |
For capital adequacy purposes |
|||||||||||||||
Amount |
Ratio |
Amount |
Ratio |
|||||||||||||
(in millions, except percentages) |
||||||||||||||||
Consolidated: |
||||||||||||||||
At March 31, 2020: |
||||||||||||||||
Total capital (to risk-weighted assets): |
||||||||||||||||
MUFG (1) |
¥ | i 18,279,566 | i 15.87 | % | ¥ | i 13,827,788 | i 12.01 | % | ||||||||
BK |
i 14,285,601 | i 14.43 | i 7,917,895 | i 8.00 | ||||||||||||
TB |
i 1,889,973 | i 25.46 | i 593,652 | i 8.00 | ||||||||||||
Tier 1 capital (to risk-weighted assets): |
||||||||||||||||
MUFG (1) |
i 15,623,321 | i 13.56 | i 11,525,076 | i 10.01 | ||||||||||||
BK |
i 12,170,005 | i 12.29 | i 5,938,421 | i 6.00 | ||||||||||||
TB |
i 1,625,712 | i 21.90 | i 445,239 | i 6.00 | ||||||||||||
Common Equity Tier 1 capital (to risk-weighted assets): |
||||||||||||||||
MUFG (1) |
i 13,708,333 | i 11.90 | i 9,798,042 | i 8.51 | ||||||||||||
BK |
i 10,597,133 | i 10.70 | i 4,453,816 | i 4.50 | ||||||||||||
TB |
i 1,444,348 | i 19.46 | i 333,929 | i 4.50 | ||||||||||||
Leverage ratio: |
||||||||||||||||
MUFG |
i 15,623,321 | i 4.42 | i 10,593,527 | i 3.00 | ||||||||||||
BK |
i 12,170,005 | i 4.21 | i 8,656,169 | i 3.00 | ||||||||||||
TB |
i 1,625,712 | i 4.51 | i 1,079,863 | i 3.00 |
Actual |
For capital adequacy purposes |
|||||||||||||||
Amount |
Ratio |
Amount |
Ratio |
|||||||||||||
(in millions, except percentages) |
||||||||||||||||
At March 31, 2021: |
||||||||||||||||
Total capital (to risk-weighted assets): |
||||||||||||||||
MUFG (1) |
¥ | i 18,669,510 | i 16.31 | % | ¥ | i 13,730,324 | i 12.00 | % | ||||||||
BK |
i 14,630,443 | i 15.04 | i 7,779,147 | i 8.00 | ||||||||||||
TB |
i 2,099,662 | i 22.47 | i 747,524 | i 8.00 | ||||||||||||
Tier 1 capital (to risk-weighted assets): |
||||||||||||||||
MUFG (1) |
i 15,982,746 | i 13.96 | i 11,441,937 | i 10.00 | ||||||||||||
BK |
i 12,411,352 | i 12.76 | i 5,834,360 | i 6.00 | ||||||||||||
TB |
i 1,870,988 | i 20.02 | i 560,643 | i 6.00 | ||||||||||||
Common Equity Tier 1 capital (to risk-weighted assets): |
||||||||||||||||
MUFG (1) |
i 14,113,722 | i 12.33 | i 9,725,646 | i 8.50 | ||||||||||||
BK |
i 10,865,302 | i 11.17 | i 4,375,770 | i 4.50 | ||||||||||||
TB |
i 1,681,140 | i 17.99 | i 420,482 | i 4.50 | ||||||||||||
Leverage ratio: |
||||||||||||||||
MUFG |
i 15,982,746 | i 5.45 | i 8,781,753 | i 3.00 | ||||||||||||
BK |
i 12,411,352 | i 5.22 | i 7,123,396 | i 3.00 | ||||||||||||
TB |
i 1,870,988 | i 7.53 | i 744,744 | i 3.00 | ||||||||||||
Stand-alone: |
||||||||||||||||
At March 31, 2020: |
||||||||||||||||
Total capital (to risk-weighted assets): |
||||||||||||||||
BK |
¥ | i 12,092,262 | i 14.76 | % | ¥ | i 6,550,969 | i 8.00 | % | ||||||||
TB |
i 2,131,514 | i 25.42 | i 670,714 | i 8.00 | ||||||||||||
Tier 1 capital (to risk-weighted assets): |
||||||||||||||||
BK |
i 10,254,608 | i 12.52 | i 4,913,227 | i 6.00 | ||||||||||||
TB |
i 1,867,723 | i 22.27 | i 503,035 | i 6.00 | ||||||||||||
Common Equity Tier 1 capital (to risk-weighted assets): |
||||||||||||||||
BK |
i 8,738,975 | i 10.67 | i 3,684,920 | i 4.50 | ||||||||||||
TB |
i 1,686,723 | i 20.11 | i 377,276 | i 4.50 | ||||||||||||
Leverage ratio: |
||||||||||||||||
BK |
i 10,254,608 | i 4.02 | i 7,644,928 | i 3.00 | ||||||||||||
TB |
i 1,867,723 | i 5.87 | i 953,353 | i 3.00 | ||||||||||||
At March 31, 2021: |
||||||||||||||||
Total capital (to risk-weighted assets): |
||||||||||||||||
BK |
¥ | i 12,359,493 | i 14.60 | % | ¥ | i 6,770,631 | i 8.00 | % | ||||||||
TB |
i 2,294,694 | i 21.91 | i 837,567 | i 8.00 | ||||||||||||
Tier 1 capital (to risk-weighted assets): |
||||||||||||||||
BK |
i 10,512,405 | i 12.42 | i 5,077,974 | i 6.00 | ||||||||||||
TB |
i 2,066,480 | i 19.73 | i 628,176 | i 6.00 | ||||||||||||
Common Equity Tier 1 capital (to risk-weighted assets): |
||||||||||||||||
BK |
i 9,025,272 | i 10.66 | i 3,808,480 | i 4.50 | ||||||||||||
TB |
i 1,876,980 | i 17.92 | i 471,132 | i 4.50 | ||||||||||||
Leverage ratio: |
||||||||||||||||
BK |
i 10,512,405 | i 5.14 | i 6,127,521 | i 3.00 | ||||||||||||
TB |
i 2,066,480 | i 8.95 | i 691,914 | i 3.00 |
(1) | Effective March 31, 2016, the FSA’s capital conservation buffer, countercyclical buffer and G-SIB surcharge requirements became applicable to Japanese banking institutions with international operations conducted through foreign offices. As a result, in addition to the i i 4.50 / %
minimum Common Equity Tier 1 capital ratio, MUFG is required to maintain a capital conservation buffer of i i 2.5 / %
and a G-SIB surcharge of i i 1.5 / %
as of March 31, 2020 and 2021, and the countercyclical buffer of i 0.01% and i 0.00 %
as of March 31, 2020 and 2021, respectively. |
Actual |
Minimum capital ratios required (1) |
|||||||||||||||
Amount |
Ratio |
Amount |
Ratio |
|||||||||||||
(in millions, except percentages) |
||||||||||||||||
MUAH: |
||||||||||||||||
Total capital (to risk-weighted assets) |
$ | i 15,769 | i 14.73 | % | $ | i 11,237 | i 10.500 | % | ||||||||
Tier 1 capital (to risk-weighted assets) |
i 15,086 | i 14.10 | i 9,097 | i 8.500 | ||||||||||||
Tier 1 capital (to quarterly average assets) (2) |
i 15,086 | i 8.88 | i 6,792 | i 4.000 | ||||||||||||
Common Equity Tier 1 capital (to risk-weighted assets) |
i 15,086 | i 14.10 | i 7,492 | i 7.000 | ||||||||||||
Total capital (to risk-weighted assets) |
$ | i 16,871 | i 16.29 | % | $ | i 12,843 | i 12.400 | % | ||||||||
Tier 1 capital (to risk-weighted assets) |
i 15,823 | i 15.28 | i 10,772 | i 10.400 | ||||||||||||
Tier 1 capital (to quarterly average assets) (2) |
i 15,823 | i 9.56 | i 6,623 | i 4.000 | ||||||||||||
Common Equity Tier 1 capital (to risk-weighted assets) |
i 15,823 | i 15.28 | i 9,218 | i 8.900 |
(1) | The minimum capital requirement includes a capital conservation buffer of i 2.5% at December 31, 2019 and i 4.4% at December 31, 2020. |
(2) | Excludes certain deductions. |
Actual |
Minimum capital ratios required (1) |
Ratios OCC requires to be “well capitalized” |
||||||||||||||||||||||
Amount |
Ratio |
Amount |
Ratio |
Amount |
Ratio |
|||||||||||||||||||
(in millions, except percentages) |
||||||||||||||||||||||||
BK(US): |
||||||||||||||||||||||||
Total capital (to risk-weighted assets) |
$ | i 14,746 | i 15.11 | % | $ | i 10,244 | i 10.500 | % | $ | i 9,756 | i 10.00 | % | ||||||||||||
Tier 1 capital (to risk-weighted assets) |
i 14,115 | i 14.47 | i 8,293 | i 8.500 | i 7,805 | i 8.00 | ||||||||||||||||||
Tier 1 capital (to quarterly average assets) (2) |
i 14,115 | i 10.65 | i 5,304 | i 4.000 | i 6,629 | i 5.00 | ||||||||||||||||||
Common Equity Tier 1 capital (to risk-weighted assets) |
i 14,115 | i 14.47 | i 6,829 | i 7.000 | i 6,342 | i 6.50 | ||||||||||||||||||
Total capital (to risk-weighted assets) |
$ | i 15,629 | i 16.68 | % | $ | i 9,836 | i 10.500 | % | $ | i 9,368 | i 10.00 | % | ||||||||||||
Tier 1 capital (to risk-weighted assets) |
i 14,634 | i 15.62 | i 7,963 | i 8.500 | i 7,494 | i 8.00 | ||||||||||||||||||
Tier 1 capital (to quarterly average assets) (2) |
i 14,634 | i 11.12 | i 5,262 | i 4.000 | i 6,577 | i 5.00 | ||||||||||||||||||
Common Equity Tier 1 capital (to risk-weighted assets) |
i 14,634 | i 15.62 | i 6,557 | i 7.000 | i 6,089 | i 6.50 |
(1) | Beginning January 1, 2019, the minimum capital requirement includes a capital conservation buffer of i 2.5%. |
(2) | Excludes certain deductions. |
22. |
EARNINGS PER COMMON SHARE APPLICABLE TO COMMON SHAREHOLDERS OF MUFG |
2019 |
2020 |
2021 |
||||||||||
(in millions) |
||||||||||||
Income (Numerator): |
||||||||||||
Net income attributable to Mitsubishi UFJ Financial Group |
¥ | i 718,645 | ¥ | i 305,955 | ¥ | i 1,117,298 | ||||||
|
|
|
|
|
|
|||||||
Effect of dilutive instruments: |
||||||||||||
Stock acquisition rights and restricted stock units—Morgan Stanley |
( i 3,745 | ) | ( i 2,861 | ) | ( i 4,159 | ) | ||||||
|
|
|
|
|
|
|||||||
Earnings applicable to common shareholders of Mitsubishi UFJ Financial Group and assumed conversions |
¥ | i 714,900 | ¥ | i 303,094 | ¥ | i 1,113,139 | ||||||
|
|
|
|
|
|
|||||||
2019 |
2020 |
2021 |
||||||||||
(thousands of shares) |
||||||||||||
Shares (Denominator): |
||||||||||||
Weighted average common shares outstanding |
i 13,058,698 | i 12,912,790 | i 12,859,737 | |||||||||
Effect of dilutive instruments: |
||||||||||||
Stock acquisition rights and the common shares of MUFG under the Board Incentive Plan (1) |
i 484 | i 166 | — | |||||||||
|
|
|
|
|
|
|||||||
Weighted average common shares for diluted computation |
i 13,059,182 | i 12,912,956 | i 12,859,737 | |||||||||
|
|
|
|
|
|
|||||||
2019 |
2020 |
2021 |
||||||||||
(in yen) |
||||||||||||
Earnings per common share applicable to common shareholders of Mitsubishi UFJ Financial Group: |
||||||||||||
Basic earnings per common share: |
||||||||||||
Earnings applicable to common shareholders of Mitsubishi UFJ Financial Group |
¥ | i 55.03 | ¥ | i 23.69 | ¥ | i 86.88 | ||||||
|
|
|
|
|
|
|||||||
Diluted earnings per common share: |
||||||||||||
Earnings applicable to common shareholders of Mitsubishi UFJ Financial Group (1) |
¥ | i 54.74 | ¥ | i 23.47 | ¥ | i 86.56 | ||||||
|
|
|
|
|
|
(1) | For the fiscal years ended March 31, 2019, 2020 and 2021, the performance-based plan under the Board Incentive Plan could potentially dilute earnings per common share but were no t included in the computation of diluted earnings per common share due to their antidilutive effects. |
23. |
DERIVATIVE FINANCIAL INSTRUMENTS |
Notional amounts (1) |
||||||||
2020 |
2021 |
|||||||
(in trillions) |
||||||||
Interest rate contracts |
¥ | i 1,553.5 | ¥ | i 1,308.4 | ||||
Foreign exchange contracts |
i 230.2 | i 222.0 | ||||||
Equity contracts |
i 8.1 | i 8.0 | ||||||
Commodity contracts |
i 0.1 | i 0.1 | ||||||
Credit derivatives |
i 8.7 | i 9.8 | ||||||
Other |
i 3.1 | i 3.5 | ||||||
|
|
|
|
|||||
Total |
¥ | i 1,803.7 | ¥ | i 1,551.8 | ||||
|
|
|
|
(1) | Includes both written and purchased positions. |
Fair value of derivative instruments |
||||||||||||||||||||||||
2020 (1)(5) |
2021 (1)(5) |
|||||||||||||||||||||||
Not designated as hedges (2) |
Designated as hedges (3) |
Total derivatives (4) |
Not designated as hedges (2) |
Designated as hedges (3) |
Total derivatives (4) |
|||||||||||||||||||
(in billions) |
||||||||||||||||||||||||
Derivative assets: |
||||||||||||||||||||||||
Interest rate contracts |
¥ | i 10,847 | ¥ | i — | ¥ | i 10,847 | ¥ | i 7,718 | ¥ | i — | ¥ | i 7,718 | ||||||||||||
Foreign exchange contracts |
i 3,734 | i — | i 3,734 | i 3,910 | i — | i 3,910 | ||||||||||||||||||
Equity contracts |
i 236 | i — | i 236 | i 231 | i — | i 231 | ||||||||||||||||||
Commodity contracts |
i 26 | i — | i 26 | i 27 | i — | i 27 | ||||||||||||||||||
Credit derivatives |
i 114 | i — | i 114 | i 94 | i — | i 94 | ||||||||||||||||||
Other (6) |
i 1 | i — | i 1 | i 17 | i — | i 17 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total derivative assets |
¥ | i 14,958 | ¥ | i — | ¥ | i 14,958 | ¥ | i 11,997 | ¥ | i — | ¥ | i 11,997 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Derivative liabilities: |
||||||||||||||||||||||||
Interest rate contracts |
¥ | i 10,205 | ¥ | i — | ¥ | i 10,205 | ¥ | i 7,361 | ¥ | i — | ¥ | i 7,361 | ||||||||||||
Foreign exchange contracts |
i 3,604 | i 4 | i 3,608 | i 4,022 | i 5 | i 4,027 | ||||||||||||||||||
Equity contracts |
i 277 | i — | i 277 | i 237 | i — | i 237 | ||||||||||||||||||
Commodity contracts |
i 26 | i — | i 26 | i 27 | i — | i 27 | ||||||||||||||||||
Credit derivatives |
i 95 | i — | i 95 | i 109 | i — | i 109 | ||||||||||||||||||
Other (6) |
( i 177 | ) | i — | ( i 177 | ) | ( i 47 | ) | i — | ( i 47 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total derivative liabilities |
¥ | i 14,030 | ¥ | i 4 | ¥ | i 14,034 | ¥ | i 11,709 | ¥ | i 5 | ¥ | i 11,714 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
(1) | The fair value of derivative instruments is presented on a gross basis even when derivative instruments are subject to master netting agreements. Cash collateral payable and receivable associated with derivative instruments are not added to or netted against the fair value amounts. |
(2) | The derivative instruments which are not designated as a hedging instrument are held for trading and risk management purposes, and are presented in Trading account assets and liabilities except for (6). |
(3) | The MUFG Group adopts hedging strategies and applies hedge accounting to certain derivative transactions entered into by certain subsidiaries. The derivative instruments which are designated as hedging instruments are presented in Other assets or Other liabilities on the accompanying consolidated balance sheets. |
(4) | This table does not include contracts with embedded derivatives for which the fair value option has been elected. |
(5) | For more information about fair value measurement and assumptions used to measure the fair value of derivatives, see Note 31. |
(6) | Other mainly includes bifurcated embedded derivatives carried at fair value, which are presented in Loans, Deposits and Long-term debt. |
Trading and risk management derivatives gains and losses (Not designated as hedging instruments) |
||||||||||||||||||||||||||||||||||||
2019 |
2020 |
2021 |
||||||||||||||||||||||||||||||||||
Foreign exchange gains (losses) —net |
Trading account profits (losses) —net |
Total |
Foreign exchange gains (losses) —net |
Trading account profits (losses) —net |
Total |
Foreign exchange gains (losses) —net |
Trading account profits (losses) —net |
Total |
||||||||||||||||||||||||||||
(in billions) |
||||||||||||||||||||||||||||||||||||
Interest rate contracts |
¥ | i — | ¥ | i 6 | ¥ | i 6 | ¥ | i — | ¥ | ( i 173 | ) | ¥ | ( i 173 | ) | ¥ | i — | ¥ | i 70 | ¥ | i 70 | ||||||||||||||||
Foreign exchange contracts |
( i 347 | ) | i — | ( i 347 | ) | ( i 429 | ) | i — | ( i 429 | ) | ( i 91 | ) | i — | ( i 91 | ) | |||||||||||||||||||||
Equity contracts |
i — | i 80 | i 80 | i — | i 30 | i 30 | i — | ( i 269 | ) | ( i 269 | ) | |||||||||||||||||||||||||
Credit derivatives |
i — | ( i 40 | ) | ( i 40 | ) | i — | i 15 | i 15 | i — | ( i 53 | ) | ( i 53 | ) | |||||||||||||||||||||||
Other (1) |
( i 7 | ) | ( i 70 | ) | ( i 77 | ) | ( i 5 | ) | ( i 31 | ) | ( i 36 | ) | i 11 | ( i 178 | ) | ( i 167 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Total |
¥ | ( i 354 | ) | ¥ | ( i 24 | ) | ¥ | ( i 378 | ) | ¥ | ( i 434 | ) | ¥ | ( i 159 | ) | ¥ | ( i 593 | ) | ¥ | ( i 80 | ) | ¥ | ( i 430 | ) | ¥ | ( i 510 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) | Other mainly includes bifurcated embedded derivatives carried at fair value, which are presented in Loans, Deposits and Long-term debt. |
Protection sold |
||||||||||||||||||||
Maximum potential/Notional amount by expiration period |
Fair value |
|||||||||||||||||||
At March 31, 2020: |
1 year or less |
1-5 years |
Over 5 years |
Total |
(Asset)/ Liability (1) |
|||||||||||||||
(in millions) |
||||||||||||||||||||
Single name credit default swaps: |
||||||||||||||||||||
Investment grade (2) |
¥ | i 303,870 | ¥ | i 2,125,006 | ¥ | i 494,040 | ¥ | i 2,922,916 | ¥ | ( i 63,855 | ) | |||||||||
Non-investment grade |
i 93,671 | i 279,892 | i 49,681 | i 423,244 | i 3,358 | |||||||||||||||
Not rated |
i 2,453 | i 6,826 | i — | i 9,279 | ( i 18 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total |
i 399,994 | i 2,411,724 | i 543,721 | i 3,355,439 | ( i 60,515 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Index and basket credit default swaps: |
||||||||||||||||||||
Investment grade (2) |
i 20,000 | i 210,602 | i 14,950 | i 245,552 | ( i 1,823 | ) | ||||||||||||||
Non-investment grade |
i — | i 106,630 | i — | i 106,630 | ( i 1,360 | ) | ||||||||||||||
Not rated |
i 28,296 | i 190,398 | i 5,316 | i 224,010 | ( i 5,205 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total |
i 48,296 | i 507,630 | i 20,266 | i 576,192 | ( i 8,388 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total credit default swaps sold |
i 448,290 | i 2,919,354 | i 563,987 | i 3,931,631 | ( i 68,903 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Other credit derivatives sold: |
||||||||||||||||||||
Investment grade |
i — | i — | i — | i — | i — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total credit derivatives |
¥ | i 448,290 | ¥ | i 2,919,354 | ¥ | i 563,987 | ¥ | i 3,931,631 | ¥ | ( i 68,903 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|
Protection sold |
||||||||||||||||||||
Maximum potential/Notional amount by expiration period |
Fair value |
|||||||||||||||||||
At March 31, 2021: |
1 year or less |
1-5 years |
Over 5 years |
Total |
(Asset)/ Liability (1) |
|||||||||||||||
(in millions) |
||||||||||||||||||||
Single name credit default swaps: |
||||||||||||||||||||
Investment grade (2) |
¥ | i 294,312 | ¥ | i 2,235,390 | ¥ | i 715,896 | ¥ | i 3,245,598 | ¥ | ( i 67,707 | ) | |||||||||
Non-investment grade |
i 84,780 | i 311,702 | i 59,145 | i 455,627 | i 5,284 | |||||||||||||||
Not rated |
i — | i 1,683 | i — | i 1,683 | ( i 83 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total |
i 379,092 | i 2,548,775 | i 775,041 | i 3,702,908 | ( i 62,506 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Index and basket credit default swaps: |
||||||||||||||||||||
Investment grade (2) |
i 43,000 | i 470,063 | i 29,133 | i 542,196 | ( i 4,753 | ) | ||||||||||||||
Non-investment grade |
i 35,427 | i 65,319 | i — | i 100,746 | ( i 1,165 | ) | ||||||||||||||
Not rated |
i 59,534 | i 29,971 | i 852 | i 90,357 | ( i 919 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total |
i 137,961 | i 565,353 | i 29,985 | i 733,299 | ( i 6,837 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total credit default swaps sold |
i 517,053 | i 3,114,128 | i 805,026 | i 4,436,207 | ( i 69,343 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Other credit derivatives sold (3) : |
||||||||||||||||||||
Investment grade (2) |
i — | i 16,606 | i — | i 16,606 | i 57 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total credit derivatives |
¥ | i 517,053 | ¥ | i 3,130,734 | ¥ | i 805,026 | ¥ | i 4,452,813 | ¥ | ( i 69,286 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|
(1) | Fair value amounts are shown on a gross basis prior to cash collateral or counterparty netting. |
(2) | The MUFG Group considers ratings of Baa3/BBB- or higher to meet the definition of investment grade. |
(3) | Other credit derivatives primarily consist of guarantees for exposures held by the counterparty under interest rate swaps and other types of derivative contracts. |
24. |
OBLIGATIONS UNDER GUARANTEES AND OTHER OFF-BALANCE SHEET INSTRUMENTS |
Maximum potential/ Contractual or Notional amount |
Amount by expiration period |
|||||||||||||||
At March 31, 2020: |
1 year or less |
1-5 years |
Over 5 years |
|||||||||||||
(in billions) |
||||||||||||||||
Standby letters of credit and financial guarantees |
¥ | i 4,098 | ¥ | i 3,109 | ¥ | i 763 | ¥ | i 226 | ||||||||
Performance guarantees |
i 3,058 | i 2,160 | i 738 | i 160 | ||||||||||||
Derivative instruments (1) |
i 58,836 | i 36,021 | i 14,543 | i 8,272 | ||||||||||||
Liabilities of trust accounts |
i 13,142 | i 6,752 | i 451 | i 5,939 | ||||||||||||
Other |
i 88 | i 8 | i 73 | i 7 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
¥ | i 79,222 | ¥ | i 48,050 | ¥ | i 16,568 | ¥ | i 14,604 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Maximum potential/ Contractual or Notional amount |
Amount by expiration period |
|||||||||||||||
At March 31, 2021: |
1 year or less |
1-5 years |
Over 5 years |
|||||||||||||
(in billions) |
||||||||||||||||
Standby letters of credit and financial guarantees |
¥ | i 4,055 | ¥ | i 3,174 | ¥ | i 698 | ¥ | i 183 | ||||||||
Performance guarantees |
i 3,193 | i 2,315 | i 755 | i 123 | ||||||||||||
Derivative instruments (1) |
i 38,499 | i 15,534 | i 15,104 | i 7,861 | ||||||||||||
Liabilities of trust accounts |
i 10,656 | i 5,667 | i 718 | i 4,271 | ||||||||||||
Other |
i 40 | i 6 | i 34 | i — | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
¥ | i 56,443 | ¥ | i 26,696 | ¥ | i 17,309 | ¥ | i 12,438 | ||||||||
|
|
|
|
|
|
|
|
(1) | Credit derivatives sold by the MUFG Group are excluded from this presentation. |
Amount by borrower grade |
||||||||||||||||||||
At March 31, 2020: |
Maximum potential/ Contractual or Notional amount |
Normal |
Close Watch (1) |
Likely to become Bankrupt or Legally/ Virtually Bankrupt (2) |
Not rated |
|||||||||||||||
(in billions) |
||||||||||||||||||||
Standby letters of credit and financial guarantees |
¥ | i 4,098 | ¥ | i 3,984 | ¥ | i 93 | ¥ | i 17 | ¥ | i 4 | ||||||||||
Performance guarantees |
i 3,058 | i 2,904 | i 96 | i 36 | i 22 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total |
¥ | i 7,156 | ¥ | i 6,888 | ¥ | i 189 | ¥ | i 53 | ¥ | i 26 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Amount by borrower grade |
||||||||||||||||||||
At March 31, 2021: |
Maximum potential/ Contractual or Notional amount |
Normal |
Close Watch (1) |
Likely to become Bankrupt or Legally/ Virtually Bankrupt (2) |
Not rated |
|||||||||||||||
(in billions) |
||||||||||||||||||||
Standby letters of credit and financial guarantees |
¥ | i 4,055 | ¥ | i 3,929 | ¥ | i 108 | ¥ | i 15 | ¥ | i 3 | ||||||||||
Performance guarantees |
i 3,193 | i 3,092 | i 70 | i 3 | i 28 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total |
¥ | i 7,248 | ¥ | i 7,021 | ¥ | i 178 | ¥ | i 18 | ¥ | i 31 | ||||||||||
|
|
|
|
|
|
|
|
|
|
(1) | Borrowers classified as Close Watch represent those that require close monitoring as the borrower has begun to exhibit elements of potential concern with respect to its business performance and financial condition, the borrower has begun to exhibit elements of serious concern with respect to its business performance and financial condition, including business problems requiring long-term solutions, or the borrower’s loans are TDRs or loans contractually past due i 90 days or more for special reasons. |
(2) | Borrowers classified as Likely to become Bankrupt or Legally/Virtually Bankrupt represent those that have a higher probability of default than those categorized as Close Watch due to serious debt repayment problems with poor progress in achieving restructuring plans, the borrower being considered virtually bankrupt with no prospects for an improvement in business operations, or the borrower being legally bankrupt with no prospects for continued business operations because of non-payment, suspension of business, voluntary liquidation or filing for legal liquidation. |
2020 |
2021 |
|||||||
(in billions) |
||||||||
Commitments to extend credit |
¥ | i 76,398 | ¥ | i 84,614 | ||||
Commercial letters of credit |
i 757 | i 835 | ||||||
Commitments to make investments |
i 247 | i 281 | ||||||
Other |
i 5 | i — |
25. |
VARIABLE INTEREST ENTITIES |
Consolidated VIEs |
Consolidated assets |
|||||||||||||||||||||||||||
At March 31, 2020: |
Total |
Cash and due from banks |
Interest-earning deposits in other banks |
Trading account assets |
Investment securities |
Loans |
All other assets |
|||||||||||||||||||||
(in millions) |
||||||||||||||||||||||||||||
Asset-backed conduits |
¥ | i 6,263,082 | ¥ | i 102,781 | ¥ | i 31,625 | ¥ | i 12,989 | ¥ | i 1,195,283 | ¥ | i 4,913,939 | ¥ | i 6,465 | ||||||||||||||
Investment funds |
i 493,757 | — | i 16,482 | i 314,074 | i 34,121 | — | i 129,080 | |||||||||||||||||||||
Special purpose entities created for structured financing |
i 204,047 | — | i 2,658 | — | — | i 119,348 | i 82,041 | |||||||||||||||||||||
Repackaged instruments |
i 249,529 | i 1,330 | — | i 42,052 | i 118,776 | i 86,859 | i 512 | |||||||||||||||||||||
Securitization of the MUFG Group’s assets |
i 10,956,261 | — | — | — | — | i 10,933,580 | i 22,681 | |||||||||||||||||||||
Trust arrangements |
i 7,527,539 | — | i 654 | i 336,546 | i 745,846 | i 6,441,864 | i 2,629 | |||||||||||||||||||||
Other |
i 31,295 | i 350 | i 2,055 | — | — | i 6,885 | i 22,005 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Total consolidated assets before elimination |
i 25,725,510 | i 104,461 | i 53,474 | i 705,661 | i 2,094,026 | i 22,502,475 | i 265,413 | |||||||||||||||||||||
The amounts eliminated in consolidation |
( i 6,877,849 | ) | ( i 103,615 | ) | ( i 23,427 | ) | ( i 10,592 | ) | ( i 289,567 | ) | ( i 6,429,880 | ) | ( i 20,768 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Total consolidated assets |
¥ | i 18,847,661 | ¥ | i 846 | ¥ | i 30,047 | ¥ | i 695,069 | ¥ | i 1,804,459 | ¥ | i 16,072,595 | ¥ | i 244,645 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated liabilities |
||||||||||||||||||||
Total |
Deposits |
Other short-term borrowings |
Long-term debt |
All other liabilities |
||||||||||||||||
(in millions) |
||||||||||||||||||||
Asset-backed conduits |
¥ | i 6,253,318 | ¥ | — | ¥ | i 4,327,685 | ¥ | i 1,478,921 | ¥ | i 446,712 | ||||||||||
Investment funds |
i 15,817 | — | — | i 5,546 | i 10,271 | |||||||||||||||
Special purpose entities created for structured financing |
i 114,357 | — | — | i 112,474 | i 1,883 | |||||||||||||||
Repackaged instruments |
i 251,056 | — | i 65,965 | i 163,833 | i 21,258 | |||||||||||||||
Securitization of the MUFG Group’s assets |
i 10,924,830 | — | i 16,008 | i 10,077,839 | i 830,983 | |||||||||||||||
Trust arrangements |
i 7,522,190 | i 6,743,261 | — | — | i 778,929 | |||||||||||||||
Other |
i 27,302 | — | i 5,989 | i 1,321 | i 19,992 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total consolidated liabilities before elimination |
i 25,108,870 | i 6,743,261 | i 4,415,647 | i 11,839,934 | i 2,110,028 | |||||||||||||||
The amounts eliminated in consolidation |
( i 15,045,398 | ) | ( i 703 | ) | ( i 2,526,893 | ) | ( i 11,374,581 | ) | ( i 1,143,221 | ) | ||||||||||
The amount of liabilities with recourse to the general credit of the MUFG Group |
( i 9,465,320 | ) | ( i 6,742,558 | ) | ( i 1,857,923 | ) | ( i 1 | ) | ( i 864,838 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Liabilities of consolidated VIEs for which creditors or beneficial interest holders do not have recourse to the general credit of the MUFG Group |
¥ | i 598,152 | ¥ | i — | ¥ | i 30,831 | ¥ | i 465,352 | ¥ | i 101,969 | ||||||||||
|
|
|
|
|
|
|
|
|
|
Consolidated VIEs |
Consolidated assets |
|||||||||||||||||||||||||||
At March 31, 2021: |
Total |
Cash and due from banks |
Interest-earning deposits in other banks |
Trading account assets |
Investment securities |
Loans |
All other assets |
|||||||||||||||||||||
(in millions) |
||||||||||||||||||||||||||||
Asset-backed conduits |
¥ | i 5,986,887 | ¥ | i 109,439 | ¥ | i 40,061 | ¥ | i 5,433 | ¥ | i 1,015,434 | ¥ | i 4,800,221 | ¥ | i 16,299 | ||||||||||||||
Investment funds |
i 374,324 | — | i 15,171 | i 240,327 | i 41,512 | — | i 77,314 | |||||||||||||||||||||
Special purpose entities created for structured financing |
i 175,630 | — | i 2,058 | i 4,645 | — | i 113,943 | i 54,984 | |||||||||||||||||||||
Repackaged instruments |
i 281,331 | i 3,179 | — | i 73,914 | i 118,199 | i 85,782 | i 257 | |||||||||||||||||||||
Securitization of the MUFG Group’s assets |
i 10,358,628 | — | i 996 | — | — | i 10,339,273 | i 18,359 | |||||||||||||||||||||
Trust arrangements |
i 9,029,390 | — | — | i 623,466 | i 1,071,708 | i 7,334,215 | i 1 | |||||||||||||||||||||
Other |
i 43,320 | i 323 | i 3,826 | i 17,108 | — | i 4,660 | i 17,403 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Total consolidated assets before elimination |
i 26,249,510 | i 112,941 | i 62,112 | i 964,893 | i 2,246,853 | i 22,678,094 | i 184,617 | |||||||||||||||||||||
The amounts eliminated in consolidation |
( i 8,121,094 | ) | ( i 110,243 | ) | ( i 31,690 | ) | ( i 5,892 | ) | ( i 519,561 | ) | ( i 7,430,166 | ) | ( i 23,542 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Total consolidated assets |
¥ | i 18,128,416 | ¥ | i 2,698 | ¥ | i 30,422 | ¥ | i 959,001 | ¥ | i 1,727,292 | ¥ | i 15,247,928 | ¥ | i 161,075 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated liabilities |
||||||||||||||||||||
Total |
Deposits |
Other short-term borrowings |
Long-term debt |
All other liabilities |
||||||||||||||||
(in millions) |
||||||||||||||||||||
Asset-backed conduits |
¥ |
i 5,989,188 |
¥ |
— |
¥ |
i 4,058,248 |
¥ |
i 1,461,043 |
¥ |
i 469,897 |
||||||||||
Investment funds |
i 15,039 |
— |
— |
i 5,831 |
i 9,208 |
|||||||||||||||
Special purpose entities created for structured financing |
i 97,226 |
— |
— |
i 84,973 |
i 12,253 |
|||||||||||||||
Repackaged instruments |
i 284,795 |
— |
i 21,343 |
i 195,987 |
i 67,465 |
|||||||||||||||
Securitization of the MUFG Group’s assets |
i 10,367,099 |
— |
i 31,000 |
i 9,839,204 |
i 496,895 |
|||||||||||||||
Trust arrangements |
i 9,029,272 |
i 7,826,959 |
— |
— |
i 1,202,313 |
|||||||||||||||
Other |
i 39,141 |
— |
i 3,433 |
i 18,315 |
i 17,393 |
|||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total consolidated liabilities before elimination |
i 25,821,760 |
i 7,826,959 |
i 4,114,024 |
i 11,605,353 |
i 2,275,424 |
|||||||||||||||
The amounts eliminated in consolidation |
( i 14,679,458 |
) |
— |
( i 2,422,978 |
) |
( i 11,144,547 |
) |
( i 1,111,933 |
) | |||||||||||
The amount of liabilities with recourse to the general credit of the MUFG Group |
( i 10,547,483 |
) |
( i 7,826,959 |
) |
( i 1,657,447 |
) |
( i 3,043 |
) |
( i 1,060,034 |
) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Liabilities of consolidated VIEs for which creditors or beneficial interest holders do not have recourse to the general credit of the MUFG Group |
¥ |
i 594,819 |
¥ |
— |
¥ |
i 33,599 |
¥ |
i 457,763 |
¥ |
i 103,457 |
||||||||||
|
|
|
|
|
|
|
|
|
|
Non-consolidated VIEs |
On-balance sheet assets |
On-balance sheet liabilities |
||||||||||||||||||||||||||||||||||
At March 31, 2020: |
Total assets |
Maximum exposure |
Total |
Trading account assets |
Investment securities |
Loans |
All other assets |
Total |
All other liabilities |
|||||||||||||||||||||||||||
(in millions) |
||||||||||||||||||||||||||||||||||||
Asset-backed conduits |
¥ | i 27,700,099 | ¥ | i 5,836,895 | ¥ | i 4,797,551 | ¥ | i 190 | ¥ | i 1,737,979 | ¥ | i 3,059,382 | ¥ | — | ¥ | — | ¥ | — | ||||||||||||||||||
Investment funds |
i 55,644,434 | i 1,918,403 | i 1,712,037 | i 437,858 | i 525,022 | i 724,253 | i 24,904 | i 356,679 | i 356,679 | |||||||||||||||||||||||||||
Special purpose entities created for structured financing |
i 37,026,192 | i 3,601,834 | i 2,764,156 | i 392,588 | i 35,774 | i 2,317,128 | i 18,666 | i 6,058 | i 6,058 | |||||||||||||||||||||||||||
Repackaged instruments |
i 8,215,327 | i 3,030,263 | i 2,931,617 | i 394,478 | i 2,123,058 | i 361,184 | i 52,897 | — | — | |||||||||||||||||||||||||||
Other |
i 54,962,702 | i 2,940,349 | i 2,314,142 | i 191,646 | — | i 1,995,985 | i 126,511 | i 41,693 | i 41,693 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Total |
¥ | i 183,548,754 | ¥ | i 17,327,744 | ¥ | i 14,519,503 | ¥ | i 1,416,760 | ¥ | i 4,421,833 | ¥ | i 8,457,932 | ¥ | i 222,978 | ¥ | i 404,430 | ¥ | i 404,430 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Non-consolidated VIEs |
On-balance sheet assets |
On-balance sheet liabilities |
||||||||||||||||||||||||||||||||||
At March 31, 2021: |
Total assets |
Maximum exposure |
Total |
Trading account assets |
Investment securities |
Loans |
All other assets |
Total |
All other liabilities |
|||||||||||||||||||||||||||
(in millions) |
||||||||||||||||||||||||||||||||||||
Asset-backed conduits |
¥ | i 25,491,847 | ¥ | i 5,606,965 | ¥ | i 4,211,342 | ¥ | i 277 | ¥ | i 1,598,992 | ¥ | i 2,612,073 | ¥ | — | ¥ | — | ¥ | — | ||||||||||||||||||
Investment funds |
i 102,840,486 | i 2,646,071 | i 2,288,210 | i 538,190 | i 501,434 | i 1,213,179 | i 35,407 | i 114,911 | i 114,911 | |||||||||||||||||||||||||||
Special purpose entities created for structured financing |
i 38,771,947 | i 4,409,839 | i 3,254,145 | i 476,784 | i 25,234 | i 2,745,441 | i 6,686 | i 10,447 | i 10,447 | |||||||||||||||||||||||||||
Repackaged instruments |
i 8,604,182 | i 3,088,564 | i 3,008,695 | i 611,245 | i 2,142,482 | i 204,332 | i 50,636 | i 29,478 | i 29,478 | |||||||||||||||||||||||||||
Other |
i 65,455,861 | i 3,039,135 | i 2,176,775 | i 198,144 | — | i 1,915,912 | i 62,719 | i 24,732 | i 24,732 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Total |
¥ | i 241,164,323 | ¥ | i 18,790,574 | ¥ | i 14,939,167 | ¥ | i 1,824,640 | ¥ | i 4,268,142 | ¥ | i 8,690,937 | ¥ | i 155,448 | ¥ | i 179,568 | ¥ | i 179,568 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26. |
CONTINGENT LIABILITIES |
27. |
FEES AND COMMISSIONS INCOME |
2019 |
2020 |
2021 |
||||||||||
(in millions) |
||||||||||||
Fees and commissions on deposits |
¥ | i 52,624 | ¥ | i 53,684 | ¥ | i 50,131 | ||||||
Fees and commissions on remittances and transfers |
i 168,756 | i 169,407 | i 165,288 | |||||||||
Fees and commissions on foreign trading business |
i 73,176 | i 66,025 | i 79,353 | |||||||||
Fees and commissions on credit card business |
i 225,877 | i 238,112 | i 199,625 | |||||||||
Fees and commissions on security-related services |
i 233,448 | i 221,494 | i 244,017 | |||||||||
Fees and commissions on administration and management services for investment funds |
i 147,597 | i 184,559 | i 235,497 | |||||||||
Trust fees |
i 115,002 | i 119,919 | i 125,658 | |||||||||
Guarantee fees (1) |
i 44,962 | i 46,322 | i 43,889 | |||||||||
Insurance commissions |
i 46,918 | i 44,415 | i 42,117 | |||||||||
Fees and commissions on real estate business |
i 45,160 | i 49,764 | i 48,110 | |||||||||
Other fees and commissions (2) |
i 285,058 | i 308,351 | i 293,598 | |||||||||
|
|
|
|
|
|
|||||||
Total |
¥ | i 1,438,578 | ¥ | i 1,502,052 | ¥ | i 1,527,283 | ||||||
|
|
|
|
|
|
(1) | Guarantee fees are not within the scope of the guidance on revenue from contracts with customers. |
(2) | Other fees and commissions include non-refundable financing related fees that are not within the scope of the guidance on revenue from contracts with customers. |
28. |
TRADING ACCOUNT PROFITS AND LOSSES |
2019 |
2020 |
2021 |
||||||||||
(in millions) |
||||||||||||
Interest rate and other derivative contracts |
¥ | ( i 24,031 | ) | ¥ | ( i 159,045 | ) | ¥ | ( i 429,586 | ) | |||
Trading account securities, excluding derivatives |
i 192,931 | i 924,418 | i 19,218 | |||||||||
|
|
|
|
|
|
|||||||
Trading account profits (losses)—net |
i 168,900 | i 765,373 | ( i 410,368 | ) | ||||||||
Foreign exchange derivative contracts (1) |
( i 354,401 | ) | ( i 434,052 | ) | ( i 79,559 | ) | ||||||
|
|
|
|
|
|
|||||||
Net trading gains (losses) |
¥ | ( i 185,501 | ) | ¥ | i 331,321 | ¥ | ( i 489,927 | ) | ||||
|
|
|
|
|
|
(1) | Losses on foreign exchange derivative contracts are included in Foreign exchange gains (losses)—net in the accompanying consolidated statements of income. Foreign exchange gains (losses)—net in the accompanying consolidated statements of income are also comprised of foreign exchange gains (losses) other than derivative contracts and foreign exchange gains (losses) related to the fair value option. |
29. |
BUSINESS SEGMENTS |
• | increasing the operating profits of Other, the Global Corporate & Investment Banking Business Group and the Japanese Corporate & Investment Banking Business Group by ¥ i 33.8 billion, i 20.2 |
• | reducing the operating profits of the Global Markets Business Group, the Retail & Commercial Banking Business Group and the Global Commercial Banking Business Group by ¥ i 46.3 billion, ¥ i 19.1 billion
and ¥ i 2.8 billion, respectively for the fiscal year ended March 31, 2019, |
• | increasing the operating profits of Other, the Japanese Corporate & Investment Banking Business Group and the Global Corporate & Investment Banking Business Group by ¥ i 25.5 |
• | reducing the operating profits of the Global Markets Business Group, the Retail & Commercial Banking Business Group and the Global Commercial Banking Business Group by ¥ i 40.2 billion, ¥ i 9.0 billion
and ¥ i 1.7 billion, respectively for the fiscal year ended March 31, 2020, |
Customer Business |
Global Markets Business Group |
Other |
Total |
|||||||||||||||||||||||||||||||||
Retail & Commercial Banking Business Group |
Japanese Corporate & Investment Banking Business Group |
Global Corporate & Investment Banking Business Group |
Global Commercial Banking Business Group |
Asset Management & Investor Services Business Group |
Total |
|||||||||||||||||||||||||||||||
(in billions) |
||||||||||||||||||||||||||||||||||||
Fiscal year ended March 31, 2019: |
||||||||||||||||||||||||||||||||||||
Net revenue: |
¥ | i 1,502.5 | ¥ | i 569.6 | ¥ | i 417.4 | ¥ | i 682.0 | ¥ | i 203.0 | ¥ | i 3,374.5 | ¥ | i 436.0 | ¥ | ( i 11.4 | ) | ¥ | i 3,799.1 | |||||||||||||||||
BK and TB (1) : |
i 718.9 | i 436.9 | i 279.2 | ( i 1.3 | ) | i 93.2 | i 1,526.9 | i 259.8 | i 74.3 | i 1,861.0 | ||||||||||||||||||||||||||
Net interest income |
i 458.2 | i 175.8 | i 120.6 | ( i 1.3 | ) | i — | i 753.3 | i 201.1 | i 190.8 | i 1,145.2 | ||||||||||||||||||||||||||
Net fees |
i 229.8 | i 202.9 | i 158.0 | i — | i 93.2 | i 683.9 | ( i 16.6 | ) | ( i 46.4 | ) | i 620.9 | |||||||||||||||||||||||||
Other |
i 30.9 | i 58.2 | i 0.6 | i — | i — | i 89.7 | i 75.3 | ( i 70.1 | ) | i 94.9 | ||||||||||||||||||||||||||
Other than BK and TB |
i 783.6 | i 132.7 | i 138.2 | i 683.3 | i 109.8 | i 1,847.6 | i 176.2 | ( i 85.7 | ) | i 1,938.1 | ||||||||||||||||||||||||||
Operating expenses |
i 1,220.9 | i 319.5 | i 254.9 | i 477.8 | i 124.6 | i 2,397.7 | i 226.0 | i 103.1 | i 2,726.8 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Operating profit (loss) |
¥ | i 281.6 | ¥ | i 250.1 | ¥ | i 162.5 | ¥ | i 204.2 | ¥ | i 78.4 | ¥ | i 976.8 | ¥ | i 210.0 | ¥ | ( i 114.5 | ) | ¥ | i 1,072.3 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Fiscal year ended March 31, 2020: |
||||||||||||||||||||||||||||||||||||
Net revenue: |
¥ | i 1,485.5 | ¥ | i 572.7 | ¥ | i 402.2 | ¥ | i 795.4 | ¥ | i 243.0 | ¥ | i 3,498.8 | ¥ | i 536.0 | ¥ | i 19.8 | ¥ | i 4,054.6 | ||||||||||||||||||
BK and TB (1) : |
i 706.6 | i 439.1 | i 287.1 | ( i 0.4 | ) | i 94.6 | i 1,527.0 | i 319.3 | i 31.9 | i 1,878.2 | ||||||||||||||||||||||||||
Net interest incom e |
i 444.4 | i 185.7 | i 121.4 | i 0.4 | i 2.5 | i 754.4 | i 129.5 | i 46.4 | i 930.3 | |||||||||||||||||||||||||||
Net fees |
i 231.8 | i 203.2 | i 148.1 | i — | i 92.2 | i 675.3 | ( i 14.8 | ) | ( i 55.1 | ) | i 605.4 | |||||||||||||||||||||||||
Other |
i 30.4 | i 50.2 | i 17.6 | ( i 0.8 | ) | ( i 0.1 | ) | i 97.3 | i 204.6 | i 40.6 | i 342.5 | |||||||||||||||||||||||||
Other than BK and TB |
i 778.9 | i 133.6 | i 115.1 | i 795.8 | i 148.4 | i 1,971.8 | i 216.7 | ( i 12.1 | ) | i 2,176.4 | ||||||||||||||||||||||||||
Operating expenses |
i 1,195.9 | i 324.4 | i 260.8 | i 564.3 | i 171.7 | i 2,517.1 | i 233.2 | i 129.3 | i 2,879.6 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Operating profit (loss) |
¥ | i 289.6 | ¥ | i 248.3 | ¥ | i 141.4 | ¥ | i 231.1 | ¥ | i 71.3 | ¥ | i 981.7 | ¥ | i 302.8 | ¥ | ( i 109.5 | ) | ¥ | i 1,175.0 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Fiscal year ended March 31, 2021: |
||||||||||||||||||||||||||||||||||||
Net revenue: |
¥ | i 1,389.4 | ¥ | i 559.9 | ¥ | i 426.3 | ¥ | i 783.2 | ¥ | i 293.5 | ¥ | i 3,452.3 | ¥ | i 634.8 | ¥ | ( i 4.8 | ) | ¥ | i 4,082.3 | |||||||||||||||||
BK and TB (1) : |
i 645.1 | i 448.8 | i 269.3 | i 0.8 | i 99.4 | i 1,463.4 | i 389.0 | i 30.4 | i 1,882.8 | |||||||||||||||||||||||||||
Net interest income |
i 405.2 | i 183.8 | i 133.2 | i 1.5 | i 5.5 | i 729.2 | i 213.1 | i 34.1 | i 976.4 | |||||||||||||||||||||||||||
Net fees |
i 216.4 | i 216.8 | i 150.2 | i — | i 94.0 | i 677.4 | ( i 4.3 | ) | ( i 66.8 | ) | i 606.3 | |||||||||||||||||||||||||
Other |
i 23.5 | i 48.2 | ( i 14.1 | ) | ( i 0.7 | ) | ( i 0.1 | ) | i 56.8 | i 180.2 | i 63.1 | i 300.1 | ||||||||||||||||||||||||
Other than BK and TB |
i 744.3 | i 111.1 | i 157.0 | i 782.4 | i 194.1 | i 1,988.9 | i 245.8 | ( i 35.2 | ) | i 2,199.5 | ||||||||||||||||||||||||||
Operating expenses |
i 1,130.4 | i 319.3 | i 269.8 | i 509.0 | i 210.1 | i 2,438.6 | i 234.0 | i 161.1 | i 2,833.7 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Operating profit (loss) |
¥ | i 259.0 | ¥ | i 240.6 | ¥ | i 156.5 | ¥ | i 274.2 | ¥ | i 83.4 | ¥ | i 1,013.7 | ¥ | i 400.8 | ¥ | ( i 165.9 | ) | ¥ | i 1,248.6 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) | “BK and TB” is a sum of MUFG Bank on a stand-alone basis and Mitsubishi UFJ Trust and Banking on a stand-alone basis. |
2019 |
2020 |
2021 |
||||||||||
(in billions) |
||||||||||||
Operating profit: |
¥ | i 1,072 | ¥ | i 1,175 | ¥ | i 1,249 | ||||||
Provision for credit losses |
( i 34 | ) | ( i 322 | ) | ( i 484 | ) | ||||||
Trading account profits (losses)—net |
i 182 | i 920 | ( i 678 | ) | ||||||||
Equity investment securities gains (losses)—net |
( i 305 | ) | ( i 618 | ) | i 1,480 | |||||||
Debt investment securities losses—net |
( i 3 | ) | ( i 403 | ) | ( i 129 | ) | ||||||
Foreign exchange gains (losses)—net |
i 47 | ( i 145 | ) | i 9 | ||||||||
Equity in earnings of equity method investees—net |
i 210 | i 283 | i 356 | |||||||||
Impairment of goodwill |
i — | ( i 384 | ) | ( i 148 | ) | |||||||
Impairment of intangible assets |
( i 118 | ) | ( i 4 | ) | ( i 22 | ) | ||||||
Reversal of (provision for) off-balance sheet credit instruments |
( i 38 | ) | i 62 | i 57 | ||||||||
Other—net |
( i 142 | ) | ( i 131 | ) | ( i 82 | ) | ||||||
|
|
|
|
|
|
|||||||
Income before income tax expense |
¥ | i 871 | ¥ | i 433 | ¥ | i 1,608 | ||||||
|
|
|
|
|
|
30. |
FOREIGN ACTIVITIES |
Domestic |
Foreign |
Total |
||||||||||||||||||||||
Japan |
United States of America |
Europe |
Asia/ Oceania excluding Japan |
Other areas (1) |
||||||||||||||||||||
(in millions) |
||||||||||||||||||||||||
Fiscal year ended March 31, 2019: |
||||||||||||||||||||||||
Total revenue (2) |
¥ | i 1,886,469 | ¥ | i 1,637,569 | ¥ | i 222,267 | ¥ | i 1,157,946 | ¥ | i 504,372 | ¥ | i 5,408,623 | ||||||||||||
Total expense (3) |
i 2,204,147 | i 1,012,978 | i 173,934 | i 892,729 | i 253,993 | i 4,537,781 | ||||||||||||||||||
Income (loss) before income tax expense (benefit) |
( i 317,678 | ) | i 624,591 | i 48,333 | i 265,217 | i 250,379 | i 870,842 | |||||||||||||||||
Net income (loss) attributable to Mitsubishi UFJ Financial Group |
( i 345,148 | ) | i 573,698 | i 50,877 | i 214,582 | i 224,636 | i 718,645 | |||||||||||||||||
Total assets at end of fiscal year |
i 194,070,495 | i 49,987,389 | i 21,535,278 | i 27,992,986 | i 11,642,751 | i 305,228,899 | ||||||||||||||||||
Fiscal year ended March 31, 2020: |
||||||||||||||||||||||||
Total revenue (2) |
¥ | i 1,596,794 | ¥ | i 2,223,984 | ¥ | i 89,412 | ¥ | i 1,326,426 | ¥ | i 566,222 | ¥ | i 5,802,838 | ||||||||||||
Total expense (3) |
i 2,565,895 | i 1,051,164 | i 218,623 | i 1,174,200 | i 359,736 | i 5,369,618 | ||||||||||||||||||
Income (loss) before income tax expense (benefit) |
( i 969,101 | ) | i 1,172,820 | ( i 129,211 | ) | i 152,226 | i 206,486 | i 433,220 | ||||||||||||||||
Net income (loss) attributable to Mitsubishi UFJ Financial Group |
( i 1,001,477 | ) | i 1,113,913 | ( i 140,372 | ) | i 142,568 | i 191,323 | i 305,955 | ||||||||||||||||
Total assets at end of fiscal year |
i 207,532,337 | i 60,587,867 | i 19,099,410 | i 30,845,864 | i 13,687,805 | i 331,753,283 | ||||||||||||||||||
Fiscal year ended March 31, 2021: |
||||||||||||||||||||||||
Total revenue (2) |
¥ | i 3,348,733 | ¥ | i 741,137 | ¥ | i 356,112 | ¥ | i 1,134,233 | ¥ | i 329,568 | ¥ | i 5,909,783 | ||||||||||||
Total expense (3) |
i 2,316,323 | i 713,441 | i 263,753 | i 889,494 | i 118,430 | i 4,301,441 | ||||||||||||||||||
Income before income tax expense |
i 1,032,410 | i 27,696 | i 92,359 | i 244,739 | i 211,138 | i 1,608,342 | ||||||||||||||||||
Net income (loss) attributable to Mitsubishi UFJ Financial Group |
i 627,138 | ( i 231,116 | ) | i 74,230 | i 366,880 | i 280,166 | i 1,117,298 | |||||||||||||||||
Total assets at end of fiscal year |
i 240,603,939 | i 49,478,851 | i 21,126,639 | i 31,368,443 | i 11,246,753 | i 353,824,625 |
(1) | Other areas primarily include Canada, Latin America, the Caribbean and the Middle East. |
(2) | Total revenue is comprised of Interest income and Non-interest income. |
(3) | Total expense is comprised of Interest expense, Provision for (reversal of) credit losses and Non-interest expense. |
2020 |
2021 |
|||||||
(in millions) |
||||||||
Cash and due from banks |
¥ | i 971,870 | ¥ | i 1,090,501 | ||||
Interest-earning deposits in other banks |
i 12,662,558 | i 12,377,887 | ||||||
|
|
|
|
|||||
Total |
¥ | i 13,634,428 | ¥ | i 13,468,388 | ||||
|
|
|
|
|||||
Trading account assets |
¥ | i 31,374,451 | ¥ | i 28,525,243 | ||||
|
|
|
|
|||||
Investment securities |
¥ | i 9,040,512 | ¥ | i 8,694,138 | ||||
|
|
|
|
|||||
Loans—net of unearned income, unamortized premiums and deferred loan fees |
¥ | i 53,079,542 | ¥ | i 47,333,878 | ||||
|
|
|
|
|||||
Deposits |
¥ | i 49,291,478 | ¥ | i 55,145,437 | ||||
|
|
|
|
|||||
Funds borrowed: |
||||||||
Call money, funds purchased |
¥ | i 276,040 | ¥ | i 323,066 | ||||
Payables under repurchase agreements |
i 13,476,026 | i 10,974,238 | ||||||
Payables under securities lending transactions |
i 176,998 | i 130,380 | ||||||
Other short-term borrowings |
i 4,733,138 | i 3,474,821 | ||||||
Long-term debt |
i 2,733,242 | i 2,421,267 | ||||||
|
|
|
|
|||||
Total |
¥ | i 21,395,444 | ¥ | i 17,323,772 | ||||
|
|
|
|
|||||
Trading account liabilities |
¥ | i 6,575,570 | ¥ | i 5,575,956 | ||||
|
|
|
|
31. |
FAIR VALUE |
• | Level 1—Unadjusted quoted prices for identical instruments in active markets. |
• | Level 2—Observable inputs other than Level 1 prices for substantially the full term of the instruments, such as quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; other inputs that are observable; or market-corroborated inputs. |
• | Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the instruments. |
Level 1 |
Level 2 |
Level 3 |
Fair Value |
|||||||||||||
(in millions) |
||||||||||||||||
Assets |
||||||||||||||||
Trading account assets: |
||||||||||||||||
Trading securities (1) |
¥ | i 14,891,635 | ¥ | i 17,061,985 | ¥ | i 525,946 | ¥ | i 32,479,566 | ||||||||
Debt securities |
||||||||||||||||
Japanese national government and Japanese government agency bonds |
i 3,805,039 | i 350,128 | — | i 4,155,167 | ||||||||||||
Japanese prefectural and municipal bonds |
— | i 93,479 | — | i 93,479 | ||||||||||||
Foreign government and official institution bonds |
i 9,356,427 | i 417,766 | i 1,052 | i 9,775,245 | ||||||||||||
Corporate bonds |
i 11 | i 2,537,559 | i 144 | i 2,537,714 | ||||||||||||
Residential mortgage-backed securities |
— | i 9,037,539 | — | i 9,037,539 | ||||||||||||
Asset-backed securities |
— | i 590,556 | i 416,259 | i 1,006,815 | ||||||||||||
Other debt securities |
— | i 7,787 | i 6,651 | i 14,438 | ||||||||||||
Commercial paper |
— | i 2,959,580 | — | i 2,959,580 | ||||||||||||
Equity securities (2) |
i 1,730,158 | i 1,067,591 | i 101,840 | i 2,899,589 | ||||||||||||
Trading derivative assets |
i 216,834 | i 14,680,632 | i 60,108 | i 14,957,574 | ||||||||||||
Interest rate contracts |
i 74,488 | i 10,758,790 | i 13,329 | i 10,846,607 | ||||||||||||
Foreign exchange contracts |
i 1,550 | i 3,723,087 | i 9,046 | i 3,733,683 | ||||||||||||
Equity contracts |
i 140,796 | i 87,285 | i 7,491 | i 235,572 | ||||||||||||
Commodity contracts |
— | i 10 | i 27,492 | i 27,502 | ||||||||||||
Credit derivatives |
— | i 111,460 | i 2,750 | i 114,210 | ||||||||||||
Investment securities: |
||||||||||||||||
Available-for-sale |
i 22,126,881 | i 11,798,392 | i 274,930 | i 34,200,203 | ||||||||||||
Japanese national government and Japanese government agency bonds |
i 19,897,187 | i 3,565,692 | — | i 23,462,879 | ||||||||||||
Japanese prefectural and municipal bonds |
— | i 2,952,820 | — | i 2,952,820 | ||||||||||||
Foreign government and official institution bonds |
i 2,229,694 | i 792,027 | i 15,767 | i 3,037,488 | ||||||||||||
Corporate bonds |
— | i 1,262,718 | i 10,108 | i 1,272,826 | ||||||||||||
Residential mortgage-backed securities |
— | i 1,459,378 | i 15 | i 1,459,393 | ||||||||||||
Commercial mortgage-backed securities |
— | i 380,278 | i 1,977 | i 382,255 | ||||||||||||
Asset-backed securities |
— | i 1,328,601 | i 140,875 | i 1,469,476 | ||||||||||||
Other debt securities |
— | i 56,878 | i 106,188 | i 163,066 | ||||||||||||
Equity securities |
i 4,471,499 | i 296,819 | i 39,963 | i 4,808,281 | ||||||||||||
Marketable equity securities |
i 4,471,499 | i 296,819 | — | i 4,768,318 | ||||||||||||
Nonmarketable equity securities (3) |
— | — | i 39,963 | i 39,963 | ||||||||||||
Other (4) |
i 1,054,186 | i 45,913 | i 36,701 | i 1,136,800 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
¥ | i 42,761,035 | ¥ | i 43,883,741 | ¥ | i 937,648 | ¥ | i 87,582,424 | ||||||||
|
|
|
|
|
|
|
|
Level 1 |
Level 2 |
Level 3 |
Fair Value |
|||||||||||||
(in millions) |
||||||||||||||||
Liabilities |
||||||||||||||||
Trading account liabilities: |
||||||||||||||||
Trading securities sold, not yet purchased |
¥ | i 555,664 | ¥ | i 3,718 | ¥ | — | ¥ | i 559,382 | ||||||||
Trading derivative liabilities |
i 300,215 | i 13,851,205 | i 56,631 | i 14,208,051 | ||||||||||||
Interest rate contracts |
i 153,098 | i 10,038,198 | i 14,079 | i 10,205,375 | ||||||||||||
Foreign exchange contracts |
i 3,360 | i 3,596,589 | i 4,041 | i 3,603,990 | ||||||||||||
Equity contracts |
i 143,757 | i 121,229 | i 11,713 | i 276,699 | ||||||||||||
Commodity contracts |
— | i 14 | i 26,775 | i 26,789 | ||||||||||||
Credit derivatives |
— | i 95,175 | i 23 | i 95,198 | ||||||||||||
Obligation to return securities received as collateral (5) |
i 4,663,068 | i 143,103 | — | i 4,806,171 | ||||||||||||
Other (6) |
— | i 514,003 | i 6,606 | i 520,609 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
¥ | i 5,518,947 | ¥ | i 14,512,029 | ¥ | i 63,237 | ¥ | i 20,094,213 | ||||||||
|
|
|
|
|
|
|
|
Level 1 |
Level 2 |
Level 3 |
Fair Value |
|||||||||||||
(in millions) |
||||||||||||||||
Assets |
||||||||||||||||
Trading account assets: |
||||||||||||||||
Trading securities (1) |
¥ | i 18,439,146 | ¥ | i 13,165,127 | ¥ | i 756,413 | ¥ | i 32,360,686 | ||||||||
Debt securities |
||||||||||||||||
Japanese national government and Japanese government agency bonds |
i 6,800,379 | i 401,454 | — | i 7,201,833 | ||||||||||||
Japanese prefectural and municipal bonds |
— | i 193,936 | — | i 193,936 | ||||||||||||
Foreign government and official institution bonds |
i 9,508,030 | i 450,443 | i 1,280 | i 9,959,753 | ||||||||||||
Corporate bonds |
i 5,123 | i 2,706,611 | i 77 | i 2,711,811 | ||||||||||||
Residential mortgage-backed securities |
i 27 | i 6,166,313 | i 1,000 | i 6,167,340 | ||||||||||||
Asset-backed securities |
— | i 1,045,706 | i 336,811 | i 1,382,517 | ||||||||||||
Other debt securities |
— | — | i 277,635 | i 277,635 | ||||||||||||
Commercial paper |
— | i 1,001,233 | — | i 1,001,233 | ||||||||||||
Equity securities (2) |
i 2,125,587 | i 1,199,431 | i 139,610 | i 3,464,628 | ||||||||||||
Trading derivative assets |
i 136,515 | i 11,774,865 | i 70,058 | i 11,981,438 | ||||||||||||
Interest rate contracts |
i 23,906 | i 7,673,031 | i 21,018 | i 7,717,955 | ||||||||||||
Foreign exchange contracts |
i 929 | i 3,896,713 | i 12,520 | i 3,910,162 | ||||||||||||
Equity contracts |
i 111,680 | i 113,586 | i 6,309 | i 231,575 | ||||||||||||
Commodity contracts |
— | i 1 | i 26,896 | i 26,897 | ||||||||||||
Credit derivatives |
— | i 91,534 | i 2,354 | i 93,888 | ||||||||||||
Other (7) |
— | — | i 961 | i 961 | ||||||||||||
Investment securities: |
||||||||||||||||
Available-for-sale |
i 34,010,613 | i 12,817,584 | i 289,616 | i 47,117,813 | ||||||||||||
Japanese national government and Japanese government agency bonds |
i 32,073,409 | i 3,199,802 | — | i 35,273,211 | ||||||||||||
Japanese prefectural and municipal bonds |
— | i 3,731,513 | — | i 3,731,513 | ||||||||||||
Foreign government and official institution bonds |
i 1,937,204 | i 973,041 | i 16,718 | i 2,926,963 | ||||||||||||
Corporate bonds |
— | i 1,134,108 | i 162 | i 1,134,270 | ||||||||||||
Residential mortgage-backed securities |
— | i 1,467,115 | i 15 | i 1,467,130 | ||||||||||||
Commercial mortgage-backed securities |
— | i 462,966 | i 1,599 | i 464,565 | ||||||||||||
Asset-backed securities |
— | i 1,247,565 | i 136,920 | i 1,384,485 | ||||||||||||
Other debt securities |
— | i 37,376 | i 134,202 | i 171,578 | ||||||||||||
Commercial paper |
— | i 564,098 | — | i 564,098 | ||||||||||||
Equity securities |
i 5,530,077 | i 229,415 | i 45,569 | i 5,805,061 | ||||||||||||
Marketable equity securities |
i 5,530,077 | i 229,415 | — | i 5,759,492 | ||||||||||||
Nonmarketable equity securities (3) |
— | — | i 45,569 | i 45,569 | ||||||||||||
Other (4) |
i 1,202,230 | i 42,687 | i 18,784 | i 1,263,701 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
¥ | i 59,318,581 | ¥ | i 38,029,678 | ¥ | i 1,180,440 | ¥ | i 98,528,699 | ||||||||
|
|
|
|
|
|
|
|
Level 1 |
Level 2 |
Level 3 |
Fair Value |
|||||||||||||
(in millions) |
||||||||||||||||
Liabilities |
||||||||||||||||
Trading account liabilities: |
||||||||||||||||
Trading securities sold, not yet purchased |
¥ | i 260,149 | ¥ | i 989 | ¥ | — | ¥ | i 261,138 | ||||||||
Trading derivative liabilities |
i 150,750 | i 11,560,634 | i 45,031 | i 11,756,415 | ||||||||||||
Interest rate contracts |
i 10,696 | i 7,343,594 | i 6,839 | i 7,361,129 | ||||||||||||
Foreign exchange contracts |
i 977 | i 4,015,927 | i 5,237 | i 4,022,141 | ||||||||||||
Equity contracts |
i 139,077 | i 92,655 | i 5,686 | i 237,418 | ||||||||||||
Commodity contracts |
— | i 1 | i 26,959 | i 26,960 | ||||||||||||
Credit derivatives |
— | i 108,457 | i 83 | i 108,540 | ||||||||||||
Other (7) |
— | — | i 227 | i 227 | ||||||||||||
Obligation to return securities received as collateral (5) |
i 6,484,452 | i 97,307 | — | i 6,581,759 | ||||||||||||
Other (6) |
— | i 558,553 | ( i 2,212 | ) | i 556,341 | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
¥ | i 6,895,351 | ¥ | i 12,217,483 | ¥ | i 42,819 | ¥ | i 19,155,653 | ||||||||
|
|
|
|
|
|
|
|
(1) | Includes securities measured under the fair value option. |
(2) | Excludes certain investments valued at net asset value of private equity funds whose fair values were ¥ i 66,918 million and ¥ i 102,255 million at March 31, 2020 and 2021, respectively. The amounts of unfunded commitments related to these private equity funds were ¥ i 102,743 million and ¥ i 97,413 million at March 31, 2020 and 2021, respectively. |
(3) | Excludes certain investments valued at net asset value of real estate funds and private equity and other funds whose fair values at March 31, 2020 were ¥ i 23,233 million and ¥ i 18,862 million,
respectively, and those at March 31, 2021 were ¥ i 27,395 million and ¥ i 34,390 million,
respectively. The amounts of unfunded commitments related to these real estate funds and private equity and other funds at March 31, 2020 were ¥ i 1,494 million and i nil,
respectively, and those at March 31, 2021 were ¥ i 1,006 million and ¥ i 4,758 million,
respectively. |
(4) | Mainly comprises securities received as collateral that may be sold or repledged under securities lending transactions and money in trust for segregating cash deposited by customers on security transactions. |
(5) | Included in Other liabilities. |
(6) | Includes other short-term borrowings, long-term debt, bifurcated embedded derivatives carried at fair value and derivative liabilities designated as hedging instruments. |
(7) | For the period ended March 31, 2021, certain derivatives such as earthquake derivatives previously included in Commodity contracts are separately disclosed in Other of Trading derivative assets and liabilities. |
Total gains (losses) for the period |
Purchases |
Issues |
Sales |
Settlements |
Transfers into Level 3 |
Transfers out of Level 3 |
Change in unrealized gains (losses) included in earnings for assets and liabilities still held at March 31, 2020 |
|||||||||||||||||||||||||||||||||||||
Included in earnings |
Included in other comprehensive income |
|||||||||||||||||||||||||||||||||||||||||||
(in millions) |
||||||||||||||||||||||||||||||||||||||||||||
Asset s |
||||||||||||||||||||||||||||||||||||||||||||
Trading account assets: |
||||||||||||||||||||||||||||||||||||||||||||
Trading securities (1) |
¥ | i 785,326 | ¥ | ( i 22,419 | ) (2) |
¥ | — | ¥ | i 227,656 | ¥ | — | ¥ | ( i 214,183 | ) | ¥ | ( i 225,980 | ) | ¥ | i 52,140 | ¥ | ( i 76,594 | ) | ¥ | i 525,946 | ¥ | ( i 18,915 | ) (2) | |||||||||||||||||
Debt securities |
||||||||||||||||||||||||||||||||||||||||||||
Foreign government and official institution bonds |
i 792 | i 589 | — | i 93,957 | — | ( i 92,748 | ) | ( i 18 | ) | — | ( i 1,520 | ) | i 1,052 | ( i 12 | ) | |||||||||||||||||||||||||||||
Corporate bonds |
i 31,384 | ( i 279 | ) | — | i 631 | — | ( i 3,937 | ) | ( i 4,721 | ) | i 24,882 | (5) |
( i 47,816 | ) (5) |
i 144 | ( i 13 | ) | |||||||||||||||||||||||||||
Residential mortgage-backed securities |
i 35,181 | ( i 695 | ) | — | — | — | ( i 23,837 | ) | ( i 10,649 | ) | — | — | — | — | ||||||||||||||||||||||||||||||
Asset-backed securities |
i 627,678 | ( i 23,494 | ) | — | i 113,239 | — | ( i 93,655 | ) | ( i 207,509 | ) | — | — | i 416,259 | ( i 18,815 | ) | |||||||||||||||||||||||||||||
Other debt securities |
i 35,148 | ( i 1,239 | ) | — | — | — | — | — | — | ( i 27,258 | ) (8) |
i 6,651 | ( i 387 | ) | ||||||||||||||||||||||||||||||
Equity securities |
i 55,143 | i 2,699 | — | i 19,829 | — | ( i 6 | ) | ( i 3,083 | ) | i 27,258 | (8) |
— | i 101,840 | i 312 | ||||||||||||||||||||||||||||||
Trading derivatives—net |
i 36,170 | i 4,503 | (2) |
i 178 | i 714 | ( i 1,449 | ) | — | ( i 33,463 | ) | i 40,857 | ( i 44,033 | ) | i 3,477 | ( i 16,742 | ) (2) | ||||||||||||||||||||||||||||
Interest rate contracts—net |
( i 4,189 | ) | i 21,290 | ( i 24 | ) | — | — | — | ( i 12,025 | ) | i 2,254 | ( i 8,056 | ) | ( i 750 | ) | i 8,046 | ||||||||||||||||||||||||||||
Foreign exchange contracts—net |
i 18,191 | ( i 21,429 | ) | i 89 | i 3 | — | — | i 4,858 | i 35,444 | (5) |
( i 32,151 | ) (5) |
i 5,005 | ( i 21,483 | ) | |||||||||||||||||||||||||||||
Equity contracts—net |
i 2,862 | i 5,188 | i 110 | i 96 | ( i 777 | ) | — | ( i 11,305 | ) | ( i 41 | ) | ( i 355 | ) | ( i 4,222 | ) | ( i 2,846 | ) | |||||||||||||||||||||||||||
Commodity contracts—net |
i 949 | ( i 174 | ) | ( i 1 | ) | i 615 | ( i 672 | ) | — | — | — | — | i 717 | ( i 167 | ) | |||||||||||||||||||||||||||||
Credit derivatives—net |
i 18,357 | ( i 372 | ) | i 4 | — | — | — | ( i 14,991 | ) | i 3,200 | ( i 3,471 | ) | i 2,727 | ( i 292 | ) | |||||||||||||||||||||||||||||
Investment securities: |
||||||||||||||||||||||||||||||||||||||||||||
Available-for-sale |
i 283,434 | ( i 2,402 | ) (3) |
i 804 | i 281,041 | — | ( i 24 | ) | ( i 300,023 | ) | i 15,201 | ( i 3,101 | ) | i 274,930 | ( i 934 | ) (3) | ||||||||||||||||||||||||||||
Foreign government and official institution bonds |
i 19,246 | — | i 1,625 | i 828 | — | — | ( i 5,932 | ) | — | — | i 15,767 | — | ||||||||||||||||||||||||||||||||
Corporate bonds |
i 4,196 | ( i 458 | ) | i 342 | i 663 | — | ( i 1 | ) | ( i 6,734 | ) | i 15,201 | (5) |
( i 3,101 | ) (5) |
i 10,108 | ( i 934 | ) | |||||||||||||||||||||||||||
Residential mortgage-backed securities |
i 15 | — | — | — | — | — | — | — | — | i 15 | — | |||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities |
i 2,038 | — | i 125 | — | — | ( i 23 | ) | ( i 163 | ) | — | — | i 1,977 | — | |||||||||||||||||||||||||||||||
Asset-backed securities |
i 131,455 | ( i 1,944 | ) | ( i 1,085 | ) | i 274,110 | — | — | ( i 261,661 | ) | — | — | i 140,875 | — | ||||||||||||||||||||||||||||||
Other debt securities |
i 126,484 | — | ( i 203 | ) | i 5,440 | — | — | ( i 25,533 | ) | — | — | i 106,188 | — | |||||||||||||||||||||||||||||||
Equity securities |
i 27,820 | i 2,585 | (3) |
— | i 12,718 | — | ( i 2,527 | ) | ( i 35 | ) | — | ( i 598 | ) | i 39,963 | i 863 | (3) | ||||||||||||||||||||||||||||
Nonmarketable equity securities |
i 27,820 | i 2,585 | — | i 12,718 | — | ( i 2,527 | ) | ( i 35 | ) | — | ( i 598 | ) | i 39,963 | i 863 | ||||||||||||||||||||||||||||||
Other |
i 32,378 | ( i 10,105 | ) (7) |
( i 375 | ) | i 44,324 | — | ( i 29,334 | ) | ( i 187 | ) | — | — | i 36,701 | ( i 10,136 | ) (7) | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Total |
¥ | i 1,165,128 | ¥ | ( i 27,838 | ) | ¥ | i 607 | ¥ | i 566,453 | ¥ | ( i 1,449 | ) | ¥ | ( i 246,068 | ) | ¥ | ( i 559,688 | ) | ¥ | i 108,198 | ¥ | ( i 124,326 | ) | ¥ | i 881,017 | ¥ | ( i 45,864 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Liabilities |
||||||||||||||||||||||||||||||||||||||||||||
Other |
¥ | i 65,648 | ¥ | ( i 5,388 | ) (4) |
¥ | ( i 414 | ) | ¥ | — | ¥ | i 2,258 | ¥ | — | ¥ | ( i 21,133 | ) | ¥ | i 333 | (6) |
¥ | ( i 46,302 | ) (6) |
¥ | i 6,606 | ¥ | i 9,648 | (4) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Total |
¥ | i 65,648 | ¥ | ( i 5,388 | ) | ¥ | ( i 414 | ) | ¥ | — | ¥ | i 2,258 | ¥ | — | ¥ | ( i 21,133 | ) | ¥ | i 333 | ¥ | ( i 46,302 | ) | ¥ | i 6,606 | ¥ | i 9,648 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total gains (losses) for the period |
Purchases |
Issues |
Sales |
Settlements |
Transfers into Level 3 |
Transfers out of Level 3 |
||||||||||||||||||||||||||||||||||||||
Included in earnings |
Included in other comprehensive income |
|||||||||||||||||||||||||||||||||||||||||||
(in millions) |
||||||||||||||||||||||||||||||||||||||||||||
Asset s |
||||||||||||||||||||||||||||||||||||||||||||
Trading account assets: |
||||||||||||||||||||||||||||||||||||||||||||
Trading securities (1) |
¥ | i 525,946 | ¥ | i 21,730 | (2) |
¥ | — | ¥ | i 352,917 | ¥ | — | ¥ | ( i 189,980 | ) | ¥ | ( i 117,399 | ) | ¥ | i 190,391 | ¥ | ( i 27,192 | ) |
¥ | i 756,413 | ¥ | i 23,477 | (2) | |||||||||||||||||
Debt securities |
||||||||||||||||||||||||||||||||||||||||||||
Foreign government and official institution bonds |
i 1,052 | i 625 | — | i 49,637 | — | ( i 49,927 | ) | ( i 59 | ) | — | ( i 48 | ) | i 1,280 | i 159 | ||||||||||||||||||||||||||||||
Corporate bonds |
i 144 | i 31 | — | i 82 | — | ( i 180 | ) | — | — | — | i 77 | ( i 5 | ) | |||||||||||||||||||||||||||||||
Residential mortgage-backed securities |
— | — | — | i 51,533 | — | ( i 50,533 | ) | — | — | — | i 1,000 | — | ||||||||||||||||||||||||||||||||
Asset-backed securities |
i 416,259 | i 12,808 | — | i 106,308 | — | ( i 83,700 | ) | ( i 114,864 | ) | — | — | i 336,811 | i 16,309 | |||||||||||||||||||||||||||||||
Other debt securities |
i 6,651 | i 11,096 | — | i 69,499 | — | — | — | i 190,389 | (8) |
— | i 277,635 | i 11,096 | ||||||||||||||||||||||||||||||||
Equity securities |
i 101,840 | ( i 2,830 | ) |
— | i 75,858 | — | ( i 5,640 | ) | ( i 2,476 | ) | i 2 | ( i 27,144 | ) (8) |
i 139,610 | ( i 4,082 | ) | ||||||||||||||||||||||||||||
Trading derivatives—net |
i 3,477 | i 45,361 | (2) |
( i 104 | ) | i 597 | ( i 653 | ) | — | ( i 20,689 | ) | ( i 2,159 | ) | ( i 803 | ) | i 25,027 | i 31,184 | (2) | ||||||||||||||||||||||||||
Interest rate contracts—net |
( i 750 | ) | i 14,401 | ( i 32 | ) | — | — | — | i 1,405 | ( i 99 | ) | ( i 746 | ) | i 14,179 | i 11,807 | |||||||||||||||||||||||||||||
Foreign exchange contracts—net |
i 5,005 | i 3,743 | ( i 128 | ) | — | — | — | i 140 | ( i 1,480 | ) | i 3 | i 7,283 | i 3,812 | |||||||||||||||||||||||||||||||
Equity contracts—net |
( i 4,222 | ) | i 27,299 | i 55 | i 3 | — | — | ( i 21,944 | ) | ( i 580 | ) | i 12 | i 623 | i 15,660 | ||||||||||||||||||||||||||||||
Commodity contracts—net |
( i 65 | ) | i 1 | i 1 | — | — | — | — | — | — | ( i 63 | ) | i 1 | |||||||||||||||||||||||||||||||
Credit derivatives—net |
i 2,727 | ( i 166 | ) | — | — | — | — | ( i 290 | ) | — | — | i 2,271 | ( i 182 | ) | ||||||||||||||||||||||||||||||
Other—net (9) |
i 782 | i 83 | — | i 594 | ( i 653 | ) | — | — | — | ( i 72 | ) | i 734 | i 86 | |||||||||||||||||||||||||||||||
Investment securities: |
||||||||||||||||||||||||||||||||||||||||||||
Available-for-sale |
i 274,930 | i 6,710 | (3) |
( i 14,559 | ) | i 308,672 | — | ( i 11 | ) | ( i 276,234 | ) | i 70 | ( i 9,962 | ) | i 289,616 | ( i 2,779 | ) (3) | |||||||||||||||||||||||||||
Foreign government and official institution bonds |
i 15,767 | — | ( i 888 | ) | i 3,518 | — | — | ( i 1,679 | ) | — | — | i 16,718 | i 473 | |||||||||||||||||||||||||||||||
Corporate bonds |
i 10,108 | ( i 8 | ) | ( i 1 | ) | — | — | — | ( i 45 | ) | i 70 | ( i 9,962 | ) (5) |
i 162 | ( i 10 | ) | ||||||||||||||||||||||||||||
Residential mortgage-backed securities |
i 15 | — | — | — | — | — | — | — | — | i 15 | — | |||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities |
i 1,977 | — | ( i 346 | ) | — | — | ( i 11 | ) | ( i 21 | ) | — | — | i 1,599 | ( i 163 | ) | |||||||||||||||||||||||||||||
Asset-backed securities |
i 140,875 | i 6,718 | ( i 7,958 | ) | i 267,767 | — | — | ( i 270,482 | ) | — | — | i 136,920 | ( i 4,047 | ) | ||||||||||||||||||||||||||||||
Other debt securities |
i 106,188 | — | ( i 5,366 | ) | i 37,387 | — | — | ( i 4,007 | ) | — | — | i 134,202 | i 968 | |||||||||||||||||||||||||||||||
Equity securities |
i 39,963 | ( i 3,231 | ) (3) |
— | i 10,481 | — | ( i 1,725 | ) | — | i 285 | ( i 204 | ) | i 45,569 | ( i 4,150 | ) (3) | |||||||||||||||||||||||||||||
Nonmarketable equity securities |
i 39,963 | ( i 3,231 | ) | — | i 10,481 | — | ( i 1,725 | ) | — | i 285 | ( i 204 | ) | i 45,569 | ( i 4,150 | ) | |||||||||||||||||||||||||||||
Other |
i 36,701 | ( i 18,626 | ) (7) |
( i 1,349 | ) | i 2,346 | — | ( i 18 | ) | ( i 270 | ) | — | — | i 18,784 | ( i 18,620 | ) (7) | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Total |
¥ | i 881,017 | ¥ | i 51,944 | ¥ | ( i 16,012 | ) | ¥ | i 675,013 | ¥ | ( i 653 | ) | ¥ | ( i 191,734 | ) | ¥ | ( i 414,592 | ) | ¥ | i 188,587 | ¥ | ( i 38,161 | ) | ¥ | i 1,135,409 | ¥ | i 29,112 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Liabilities |
||||||||||||||||||||||||||||||||||||||||||||
Other |
¥ | i 6,606 | ¥ | ( i 32,946 | ) (4) |
¥ | i 937 | ¥ | — | ¥ | i 5,336 | ¥ | — | ¥ | ( i 27,823 | ) | ¥ | ( i 7,686 | ) (6) |
¥ | ( i 10,654 | ) (6) |
¥ | ( i 2,212 | ) | ¥ | ( i 17,043 | ) (4) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Total |
¥ | i 6,606 | ¥ | ( i 32,946 | ) | ¥ | i 937 | ¥ | i — | ¥ | i 5,336 | ¥ | i — | ¥ | ( i 27,823 | ) | ¥ | ( i 7,686 | ) | ¥ | ( i 10,654 | ) | ¥ | ( i 2,212 | ) | ¥ | ( i 17,043 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) | Includes Trading securities measured under the fair value option. |
(2) | Included in Trading account profits (losses)—net and Foreign exchange gains (losses)—net. |
(3) | Included in Investment securities gains (losses)—net and Other comprehensive income—net. |
(4) | Included in Trading account profits (losses)—net. |
(5) | Transfers into (out of) Level 3 for Foreign exchange contracts—net were mainly caused by the valuation using certain unobservable input. For the fiscal year ended March 31, 2020, transfers into (out of) Level 3 for Corporate bonds were mainly caused by the decrease (increase) in liquidity or the availability of the quoted prices provided by third-party vendors. For the fiscal year ended March 31, 2021, transfers out of Level 3 for Corporate bonds were due to changes in the impact of unobservable credit worthiness inputs to the entire fair value measurement of the private placement bonds issued by Japanese non-public companies. Unobservable credit worthiness inputs include probability of default based on credit ratings of the bond issuers and loss
given default. |
(6) | Transfers into (out of) Level 3 for long-term debt in Other were mainly caused by the decrease (increase) in the observability of the key inputs to the valuation models and a corresponding increase (decrease) in the significance of the unobservable inputs. |
(7) | Included in Fees and commissions income and Other non-interest income. |
(8) | Transfers relate to the reclassification of certain securities. |
(9) | For the fiscal year ended March 31, 2021, certain derivatives such as earthquake derivatives previously included in Commodity contracts—net are separately disclosed in Other—net of Trading derivatives—net. |
Fair value (1) |
Valuation technique |
Significant unobservable inputs |
Range |
Weighted average (2) | ||||||||
(in millions) |
||||||||||||
Assets |
||||||||||||
Trading securities and Investment securities: |
||||||||||||
Foreign government and official institution bonds |
¥ | i 15,767 | Return on equity method | Probability of default |
i 0.2%~ i 1.3% | i 0.4% | ||||||
Recovery rate |
i 55.0%~ i 90.0% | i 69.9% | ||||||||||
Market-required return on capital |
i 8.0%~ i 10.0% | i 9.9% | ||||||||||
Residential mortgage-backed securities, Commercial mortgage-backed securities and Asset-backed securities |
i 92,025 | Discounted cash flow | Probability of default |
i 1.2%~ i 5.3% | i 5.0% | |||||||
Recovery rate |
i 60.0%~ i 76.0% | i 68.2% | ||||||||||
i 389,170 | Internal model (4) |
Asset correlations |
i 1.0% | i 1.0% | ||||||||
Discount factor |
i 1.1%~ i 1.4% | i 1.4% | ||||||||||
Prepayment rate |
i 21.0% | i 21.0% | ||||||||||
Probability of default |
i 0.0%~ i 99.0% | i — (3) | ||||||||||
Recovery rate |
i 57.8% | i 57.8% | ||||||||||
Other debt securities |
i 6,651 | Discounted cash flow | Liquidity premium |
i 2.4% | i 2.4% | |||||||
i 86,734 | Return on equity method | Probability of default |
i 0.0%~ i 25.0% | i 0.3% | ||||||||
Recovery rate |
i 60.0%~ i 90.0% | i 79.8% | ||||||||||
Market-required return on capital |
i 8.0%~ i 10.0% | i 9.4% | ||||||||||
Equity securities |
i 27,144 | Discounted cash flow | Liquidity premium |
i 1.0% | i 1.0% |
Fair value (1) |
Valuation technique |
Significant unobservable inputs |
Range | |||||||
(in millions) |
||||||||||
Trading derivatives—net: |
||||||||||
Interest rate contracts—net |
( i 728 | ) | Option model | Correlation between interest rates | i 32.9%~ i 62.5% | |||||
Correlation between interest rate and foreign exchange rate |
i 16.7%~ i 60.0% | |||||||||
Volatility | i 0.0%~ i 100.0% | |||||||||
Foreign exchange contracts—net |
i 5,005 | Option model | Correlation between interest rates | i 30.0%~ i 70.0% | ||||||
Correlation between interest rate and foreign exchange rate |
i 15.8%~ i 60.0% | |||||||||
Correlation between foreign exchange rates |
i 60.0% | |||||||||
Volatility |
i 7.5%~ i 17.0% | |||||||||
Equity contracts—net |
( i 10,038 | ) | Option model | Correlation between foreign exchange rate and equity |
( i 58.4)%~ i 56.9% | |||||
Correlation between equities | i 19.5%~ i 81.0% | |||||||||
Volatility | i 24.2%~ i 32.0% | |||||||||
i 6,166 | Discounted cash flow | Term of litigation | i 0.1 year~ i 1.1 years |
Fair value (1) |
Valuation technique |
Significant unobservable inputs |
Range |
Weighted average (2) | ||||||||
(in millions) |
||||||||||||
Assets |
||||||||||||
Trading securities and Investment securities: |
||||||||||||
Foreign government and official institution bonds |
¥ | i 16,718 | Return on equity method | Probability of default |
i 0.2%~ i 1.8% | i 0.5% | ||||||
Recovery rate |
i 35.0%~ i 90.0% | i 66.9% | ||||||||||
Market-required return on capital |
i 8.0%~ i 10.0% | i 10.0% | ||||||||||
Residential mortgage-backed securities, Commercial mortgage-backed securities and Asset-backed securities |
i 89,607 | Discounted cash flow | Probability of default |
i 4.3%~ i 4.9% | i 4.7% | |||||||
Recovery rate |
i 78.0%~ i 96.6% | i 90.6% | ||||||||||
i 279,547 | Internal model (4) |
Asset correlations |
i 3.0% | i 3.0% | ||||||||
Discount factor |
i 1.3%~ i 1.6% | i 1.3% | ||||||||||
Prepayment rate |
i 18.3% | i 18.3% | ||||||||||
Probability of default |
i 0.0%~ i 83.7% | i — (3) | ||||||||||
Recovery rate |
i 57.4% | i 57.4% | ||||||||||
Other debt securities |
i 313,895 | Discounted cash flow | Liquidity premium |
i 1.0%~ i 3.2% | i 2.9% | |||||||
i 79,541 | Return on equity method | Probability of default |
i 0.0%~ i 8.0% | i 0.4% | ||||||||
Recovery rate |
i 60.0%~ i 90.0% | i 78.8% | ||||||||||
Market-required return on capital |
i 8.0%~ i 10.0% | i 10.0% | ||||||||||
Fair value (1) |
Valuation technique |
Significant unobservable inputs |
Range |
Median (2) | ||||||||
(in millions) |
||||||||||||
Trading derivatives—net: |
||||||||||||
Interest rate contracts—net |
i 12,841 | Option model | Correlation between interest rates | i 30.0 %~ i 61.9% |
i 44.8% | |||||||
Correlation between interest rate and foreign exchange rate |
i 15.1 %~ i 60.0% |
i 41.6% | ||||||||||
Volatility | i 0.0 %~ i 100.0% |
i 65.0% | ||||||||||
Foreign exchange contracts—net |
i 7,283 | Option model | Correlation between interest rates | i 10.0 %~ i 70.0% |
i 51.0% | |||||||
Correlation between interest rate and foreign exchange rate |
i 0.0 %~ i 60.0% |
i 38.9% | ||||||||||
Correlation between foreign exchange rates |
i 50.0 %~ i 70.6% |
i 66.4% | ||||||||||
Volatility |
i 9.5 %~ i 22.1% |
i 13.7% | ||||||||||
Equity contracts—net |
( i 4,597 | ) | Option model | Correlation between foreign exchange rate and equity |
( i 58.4) %~ i 55.0% |
i 26.2% | ||||||
Correlation between equities | i 15.0 %~ i 95.0% |
i 54.0% | ||||||||||
Volatility | i 27.5 %~ i 40.0% |
i 31.8% | ||||||||||
i 5,557 | Discounted cash flow | Term of litigation | i 0.0 |
i 0.6 year |
(1) |
The fair value as of March 31, 2020 and 2021 excludes the fair value of investments valued using vendor prices. |
(2) |
Weighted average is calculated by weighing each input by the relative fair value of the respective financial instruments for investment securities. Median is used for derivative instruments. |
(3) |
See “Probability of default” in “Changes in and range of unobservable inputs”. |
(4) |
For further detail of Internal model, refer to the last paragraph of “Trading Account Assets and Liabilities—Trading Account Securities”. |
2020 |
2021 |
|||||||||||||||||||||||||||||||
Level 1 |
Level 2 |
Level 3 |
Total carrying value |
Level 1 |
Level 2 |
Level 3 |
Total carrying value |
|||||||||||||||||||||||||
(in millions) |
||||||||||||||||||||||||||||||||
Assets |
||||||||||||||||||||||||||||||||
Investment securities (1)(2) |
¥ | — | ¥ | i 15,473 | ¥ | i 2,703 | ¥ | i 18,176 | ¥ | — | ¥ | i 32,421 | ¥ | i 8,357 | ¥ | i 40,778 | ||||||||||||||||
Loans |
i 2,548 | i 9,199 | i 260,282 | i 272,029 | i 2,667 | i 5,125 | i 255,676 | i 263,468 | ||||||||||||||||||||||||
Loans held for sale |
— | — | i 73,573 | i 73,573 | — | — | i 52,159 | i 52,159 | ||||||||||||||||||||||||
Collateral dependent loans |
i 2,548 | i 9,199 | i 186,709 | i 198,456 | i 2,667 | i 5,125 | i 203,517 | i 211,309 | ||||||||||||||||||||||||
Premises and equipment |
— | — | i 37,109 | i 37,109 | — | — | i 15,243 | i 15,243 | ||||||||||||||||||||||||
Intangible assets |
— | — | i 453 | i 453 | — | — | i 2,421 | i 2,421 | ||||||||||||||||||||||||
Goodwill |
— | — | i 283,032 | i 283,032 | — | — | i 132,976 | i 132,976 | ||||||||||||||||||||||||
Other assets |
i 73,015 | — | i 18,609 | i 91,624 | i 111,626 | i 33,840 | i 24,512 | i 169,978 | ||||||||||||||||||||||||
Investments in equity method investees (1) |
i 73,015 | — | i 5,911 | i 78,926 | i 111,626 | i 33,840 | i 8,384 | i 153,850 | ||||||||||||||||||||||||
Other |
— | — | i 12,698 | i 12,698 | — | — | i 16,128 | i 16,128 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Total |
¥ | i 75,563 | ¥ | i 24,672 | ¥ | i 602,188 | ¥ | i 702,423 | ¥ | i 114,293 | ¥ | i 71,386 | ¥ | i 439,185 | ¥ | i 624,864 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) | Excludes certain investments valued at net asset value of ¥ i 12,935 million and ¥ i 24,319 million at March 31, 2020 and 2021, respectively. The unfunded commitments related to these investments are ¥ i 17,216 million and ¥ i 19,101 million at March 31, 2020 and 2021, respectively. These investments are in private equity funds. |
(2) | Includes certain nonmarketable equity securities that are measured at fair value on a nonrecurring basis, including impairment and observable price change for nonmarketable equity securities measured under the measurement alternative. |
2020 |
2021 |
|||||||
(in millions) |
||||||||
Investment securities |
¥ | ( i 2,171 | ) | ¥ | ( i 16,522 | ) | ||
Loans |
i 47,359 | i 116,849 | ||||||
Loans held for sale |
i 4,688 | i 959 | ||||||
Collateral dependent loans |
i 42,671 | i 115,890 | ||||||
Premises and equipment |
i 16,517 | i 11,548 | ||||||
Intangible assets |
i 3,732 | i 19,200 | ||||||
Goodwill |
i 383,810 | i 147,564 | ||||||
Other assets |
i 46,237 | i 111,374 | ||||||
Investments in equity method investees |
i 21,672 | i 53,758 | ||||||
Other |
i 24,565 | i 57,616 | ||||||
|
|
|
|
|||||
Total |
¥ | i 495,484 | ¥ | i 390,013 | ||||
|
|
|
|
• | Replacement cost approach |
• | Sales comparison approach |
• | Income approach |
2019 |
2020 |
2021 |
||||||||||||||||||||||||||||||||||
Trading account profits (losses) |
Foreign exchange gains (losses) |
Total changes in fair value |
Trading account profits (losses) |
Foreign exchange gains (losses) |
Total changes in fair value |
Trading account profits (losses) |
Foreign exchange gains (losses) |
Total changes in fair value |
||||||||||||||||||||||||||||
(in millions) |
||||||||||||||||||||||||||||||||||||
Financial assets: |
||||||||||||||||||||||||||||||||||||
Trading account securities (1) |
¥ | i 208,952 | ¥ | i 186,578 | ¥ | i 395,530 | ¥ | i 837,832 | ¥ | ( i 596,017 | ) | ¥ | i 241,815 | ¥ | ( i 370,238 | ) | ¥ | i 723,505 | ¥ | i 353,267 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Total |
¥ | i 208,952 | ¥ | i 186,578 | ¥ | i 395,530 | ¥ | i 837,832 | ¥ | ( i 596,017 | ) | ¥ | i 241,815 | ¥ | ( i 370,238 | ) | ¥ | i 723,505 | ¥ | i 353,267 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Financial liabilities: |
||||||||||||||||||||||||||||||||||||
Other short-term borrowings (2) |
¥ | ( i 5,559 | ) | ¥ | — | ¥ | ( i 5,559 | ) | ¥ | i 5,194 | ¥ | — | ¥ | i 5,194 | ¥ | ( i 6,484) | ¥ | — | ¥ | ( i 6,484) | ||||||||||||||||
Long-term debt (2) |
( i 8,322 | ) | — | ( i 8,322 | ) | ( i 8,087 | ) | — | ( i 8,087 | ) | i 1,523 | — | i 1,523 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Total |
¥ | ( i 13,881 | ) | ¥ | — | ¥ | ( i 13,881 | ) | ¥ | ( i 2,893 | ) | ¥ | — | ¥ | ( i 2,893 | ) | ¥ | ( i 4,961 | ) | ¥ | — | ¥ | ( i 4,961 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) | Excludes Danamon’s equity securities. See Note 2 for reference. |
(2) | Change in value attributable to the instrument-specific credit risk related to those financial liabilities are not material. |
2020 |
2021 |
|||||||||||||||||||||||
Remaining aggregate contractual amounts outstanding |
Fair value |
Fair value over (under) remaining aggregate contractual amounts outstanding |
Remaining aggregate contractual amounts outstanding |
Fair value |
Fair value over (under) remaining aggregate contractual amounts outstanding |
|||||||||||||||||||
(in millions) |
||||||||||||||||||||||||
Financial liabilities: |
||||||||||||||||||||||||
Long-term debt |
¥ | i 319,149 | ¥ | i 304,067 | ¥ | ( i 15,082 | ) | ¥ | i 420,227 | ¥ | i 402,823 | ¥ | ( i 17,404 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total |
¥ | i 319,149 | ¥ | i 304,067 | ¥ | ( i 15,082 | ) | ¥ | i 420,227 | ¥ | i 402,823 | ¥ | ( i 17,404 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Carrying amount |
Estimated fair value |
|||||||||||||||||||
Total |
Level 1 |
Level 2 |
Level 3 |
|||||||||||||||||
(in billions) |
||||||||||||||||||||
Financial assets: |
||||||||||||||||||||
Cash and due from banks |
¥ | i 33,283 | ¥ | i 33,283 | ¥ | i 33,283 | ¥ | — | ¥ | — | ||||||||||
Interest-earning deposits in other banks |
i 45,267 | i 45,267 | — | i 45,267 | — | |||||||||||||||
Call loans and funds sold |
i 1,169 | i 1,169 | — | i 1,169 | — | |||||||||||||||
Receivables under resale agreements |
i 23,996 | i 23,996 | — | i 23,996 | — | |||||||||||||||
Receivables under securities borrowing transactions |
i 3,444 | i 3,444 | — | i 3,444 | — | |||||||||||||||
Investment securities |
i 4,166 | i 4,178 | i 1,134 | i 1,042 | i 2,002 | |||||||||||||||
Loans, net of allowance for credit losses (1) |
i 117,373 | i 118,497 | i 3 | i 259 | i 118,235 | |||||||||||||||
Other financial assets (2) |
i 8,494 | i 8,494 | — | i 8,494 | — | |||||||||||||||
Financial liabilities: |
||||||||||||||||||||
Deposits |
||||||||||||||||||||
Non-interest-bearing |
¥ | i 33,382 | ¥ | i 33,382 | ¥ | — | ¥ | i 33,382 | ¥ | — | ||||||||||
Interest-bearing |
i 170,574 | i 170,631 | — | i 170,631 | — | |||||||||||||||
Total deposits |
i 203,956 | i 204,013 | — | i 204,013 | — | |||||||||||||||
Call money and funds purchased |
i 3,669 | i 3,669 | — | i 3,669 | — | |||||||||||||||
Payables under repurchase agreements |
i 31,850 | i 31,850 | — | i 31,850 | — | |||||||||||||||
Payables under securities lending transactions |
i 1,017 | i 1,017 | — | i 1,017 | — | |||||||||||||||
Due to trust account and other short-term borrowings |
i 19,057 | i 19,057 | — | i 19,057 | — | |||||||||||||||
Long-term debt |
i 27,772 | i 27,941 | — | i 27,941 | — | |||||||||||||||
Other financial liabilities |
i 7,139 | i 7,139 | — | i 7,139 | — |
Carrying amount |
Estimated fair value |
|||||||||||||||||||
Total |
Level 1 |
Level 2 |
Level 3 |
|||||||||||||||||
(in billions) |
||||||||||||||||||||
Financial assets: |
||||||||||||||||||||
Cash and due from banks |
¥ | i 49,977 | ¥ | i 49,977 | ¥ | i 49,977 | ¥ | — | ¥ | — | ||||||||||
Interest-earning deposits in other banks |
i 53,347 | i 53,347 | — | i 53,347 | — | |||||||||||||||
Call loans and funds sold |
i 1,256 | i 1,256 | — | i 1,256 | — | |||||||||||||||
Receivables under resale agreements |
i 13,780 | i 13,780 | — | i 13,780 | — | |||||||||||||||
Receivables under securities borrowing transactions |
i 3,370 | i 3,370 | — | i 3,370 | — | |||||||||||||||
Investment securities |
i 3,904 | i 3,939 | i 1,123 | i 780 | i 2,036 | |||||||||||||||
Loans, net of allowance for credit losses (1) |
i 114,350 | i 115,709 | i 3 | i 298 | i 115,408 | |||||||||||||||
Other financial assets (2) |
i 8,108 | i 8,108 | — | i 8,108 | — | |||||||||||||||
Financial liabilities: |
||||||||||||||||||||
Deposits |
||||||||||||||||||||
Non-interest-bearing |
¥ | i 38,521 | ¥ | i 38,521 | ¥ | — | ¥ | i 38,521 | ¥ | — | ||||||||||
Interest-bearing |
i 190,695 | i 190,712 | — | i 190,712 | — | |||||||||||||||
Total deposits |
i 229,216 | i 229,233 | — | i 229,233 | — | |||||||||||||||
Call money and funds purchased |
i 2,354 | i 2,354 | — | i 2,354 | — | |||||||||||||||
Payables under repurchase agreements |
i 24,568 | i 24,568 | — | i 24,568 | — | |||||||||||||||
Payables under securities lending transactions |
i 843 | i 843 | — | i 843 | — | |||||||||||||||
Due to trust account and other short-term borrowings |
i 17,883 | i 17,883 | — | i 17,883 | — | |||||||||||||||
Long-term debt |
i 34,773 | i 35,042 | — | i 35,042 | — | |||||||||||||||
Other financial liabilities |
i 7,027 | i 7,027 | — | i 7,027 | — |
(1) | Includes loans held for sale and collateral dependent loans measured at fair value on a nonrecurring basis. Refer to “Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis” for the details of the level classification. |
(2) | Excludes investments in equity method investees of ¥ i 2,421 billion and ¥ i 2,560 billion at March 31, 2020 and 2021, respectively. |
32. |
PARENT COMPANY ONLY FINANCIAL INFORMATION |
As of March 31, |
||||||||
2021 |
||||||||
(in millions) |
||||||||
Assets: |
||||||||
Cash and interest-earning deposits with banking subsidiaries |
¥ | i 185,668 | ¥ | i 229,380 | ||||
Investments in subsidiaries and affiliated companies |
i 16,116,568 | i 16,658,522 | ||||||
Banking subsidiaries |
i 12,361,190 | i 12,793,367 | ||||||
Non-banking subsidiaries and affiliated companies |
i 3,755,378 | i 3,865,155 | ||||||
Loans to subsidiaries |
i 8,746,231 | i 9,208,439 | ||||||
Banking subsidiaries |
i 8,222,278 | i 8,690,696 | ||||||
Non-banking subsidiaries |
i 523,953 | i 517,743 | ||||||
Other assets |
i 241,441 | i 197,231 | ||||||
|
|
|
|
|||||
Total assets |
¥ | i 25,289,908 | ¥ | i 26,293,572 | ||||
|
|
|
|
|||||
Liabilities and Shareholders’ equity: |
||||||||
Short-term borrowings from banking subsidiaries |
¥ | i 1,255,991 | ¥ | i 1,206,694 | ||||
Long-term debt from non-banking subsidiaries and affiliated companies |
i 30,686 | i 15,897 | ||||||
Long-term debt |
i 8,758,646 | i 9,226,046 | ||||||
Other liabilities |
i 228,098 | i 183,986 | ||||||
|
|
|
|
|||||
Total liabilities |
i 10,273,421 | i 10,632,623 | ||||||
|
|
|
|
|||||
Total shareholders’ equity |
i 15,016,487 | i 15,660,949 | ||||||
|
|
|
|
|||||
Total liabilities and shareholders’ equity |
¥ | i 25,289,908 | ¥ | i 26,293,572 | ||||
|
|
|
|
Fiscal years ended March 31, |
||||||||||||
2020 |
2021 |
|||||||||||
(in millions) |
||||||||||||
Income: |
||||||||||||
Dividends from subsidiaries and affiliated companies |
¥ | i 306,879 | ¥ | i 376,376 | ¥ | i 404,064 | ||||||
Banking subsidiaries |
i 207,161 | i 277,472 | i 317,453 | |||||||||
Non-banking subsidiaries and affiliated companies |
i 99,718 | i 98,904 | i 86,611 | |||||||||
Management fees from subsidiaries |
i 28,305 | i 33,543 | i 35,095 | |||||||||
Interest income from subsidiaries |
i 127,117 | i 174,500 | i 174,816 | |||||||||
Foreign exchange gains (losses)—net |
( i 20,598 | ) | i 4,834 | i 1,089 | ||||||||
Trading account losses—net |
( i 8,078 | ) | ( i 37,272 | ) | ( i 18,285 | ) | ||||||
Gains on sales of investment in subsidiaries and affiliated companies—net |
i 252,253 | i 67,406 | i 95 | |||||||||
Other income |
i 3,199 | i 14,968 | i 12,552 | |||||||||
|
|
|
|
|
|
|||||||
Total income |
i 689,077 | i 634,355 | i 609,426 | |||||||||
|
|
|
|
|
|
|||||||
Expense: |
||||||||||||
Operating expenses |
i 28,168 | i 30,431 | i 37,567 | |||||||||
Interest expense to subsidiaries and affiliated companies |
i 34,594 | i 26,244 | i 11,415 | |||||||||
Interest expense |
i 108,756 | i 155,774 | i 159,057 | |||||||||
Other expense |
i 1,657 | i 15,024 | i 8,164 | |||||||||
|
|
|
|
|
|
|||||||
Total expens e |
i 173,175 | i 227,473 | i 216,203 | |||||||||
|
|
|
|
|
|
|||||||
Equity in undistributed net income (loss) of subsidiaries and affiliated companies—net |
i 194,390 | ( i 108,069 | ) | i 727,257 | ||||||||
|
|
|
|
|
|
|||||||
Income before income tax expense (benefit) |
i 710,292 | i 298,813 | i 1,120,480 | |||||||||
Income tax expense (benefit) |
( i 8,353 | ) | ( i 7,142 | ) | i 3,182 | |||||||
|
|
|
|
|
|
|||||||
Net income |
¥ | i 718,645 | ¥ | i 305,955 | ¥ | i 1,117,298 | ||||||
|
|
|
|
|
|
Fiscal years ended March 31, |
||||||||||||
2020 |
2021 |
|||||||||||
(in millions) |
||||||||||||
Operating activities: |
||||||||||||
Net income |
¥ | i 718,645 | ¥ | i 305,955 | ¥ | i 1,117,298 | ||||||
Adjustments and other |
( i 351,775 | ) | ( i 1,704 | ) | ( i 568,317 | ) | ||||||
|
|
|
|
|
|
|||||||
Net cash provided by operating activities |
i 366,870 | i 304,251 | i 548,981 | |||||||||
|
|
|
|
|
|
|||||||
Investing activities: |
||||||||||||
Proceeds from redemption of other investment securities |
— | i 240,000 | — | |||||||||
Proceeds from sales of investment in subsidiaries and affiliated companies |
i 455,605 | i 135,581 | i 35,081 | |||||||||
Purchase of equity investment in subsidiaries and an affiliated company |
( i 18,346 | ) | — | — | ||||||||
Net increase in loans to subsidiaries |
( i 2,112,711 | ) | ( i 1,547,178 | ) | ( i 462,208 | ) | ||||||
Other—ne t |
( i 9,009 | ) | ( i 12,572 | ) | ( i 11,531 | ) | ||||||
|
|
|
|
|
|
|||||||
Net cash used in investing activities |
( i 1,684,461 | ) | ( i 1,184,169 | ) | ( i 438,658 | ) | ||||||
|
|
|
|
|
|
|||||||
Financing activities: |
||||||||||||
Net decrease in short-term borrowings from subsidiaries |
( i 194,300 | ) | ( i 164,272 | ) | ( i 49,058 | ) | ||||||
Proceeds from issuance of long-term debt |
i 2,043,677 | i 1,844,488 | i 831,121 | |||||||||
Repayment of long-term debt |
( i 314 | ) | ( i 214,994 | ) | ( i 514,436 | ) | ||||||
Repayment of long-term debt to affiliated companies |
( i 500 | ) | ( i 241,000 | ) | ( i 10,500 | ) | ||||||
Proceeds from sales of treasury stock |
i 3 | i 2 | i 1 | |||||||||
Payments for acquisition of treasury stock |
( i 150,277 | ) | ( i 50,022 | ) | ( i 13 | ) | ||||||
Dividends paid |
( i 276,279 | ) | ( i 304,538 | ) | ( i 321,772 | ) | ||||||
Other—net |
( i 15,490 | ) | ( i 7,791 | ) | ( i 1,954 | ) | ||||||
|
|
|
|
|
|
|||||||
Net cash provided by (used in) financing activities |
i 1,406,520 | i 861,873 | ( i 66,611 | ) | ||||||||
|
|
|
|
|
|
|||||||
Net increase (decrease) in cash and cash equivalents |
i 88,929 | ( i 18,045 | ) | i 43,712 | ||||||||
Cash and cash equivalents at beginning of fiscal year |
i 114,784 | i 203,713 | i 185,668 | |||||||||
|
|
|
|
|
|
|||||||
Cash and cash equivalents at end of fiscal year |
¥ | i 203,713 | ¥ | i 185,668 | ¥ | i 229,380 | ||||||
|
|
|
|
|
|
33. |
SUBSEQUENT EVENTS |
Exhibit |
Description | |
1(a) |
||
1(b) |
||
1(c) |
||
1(d) |
||
1(e) |
||
1(f) |
||
1(g) |
||
1(h) |
||
2(a) |
||
2(b) |
||
2(c) |
||
8 |
||
11 |
||
12 |
||
13 |
||
15(a) |
||
15(b) |
||
99(a) |
||
99(b) |
||
99(c) |
||
101.INS |
Inline XBRL Instance Document—the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document | |
101.SCH |
Inline XBRL Taxonomy Extension Schema Document |
Exhibit |
Description | |
101.CAL |
Inline XBRL Taxonomy Extension Calculation Linkbase Document | |
101.DEF |
Inline XBRL Taxonomy Extension Definition Linkbase Document | |
101.LAB |
Inline XBRL Taxonomy Extension Label Linkbase Document | |
101.PRE |
Inline XBRL Taxonomy Extension Presentation Linkbase Document | |
104 |
The cover page for the Company’s Annual Report on From 20-F for the year ended March 31, 2021, has been formatted in Inline XBRL |
* |
Incorporated by reference to our annual report on Form 20-F (File No. 000-54189) filed on July 12, 2018. |
** |
Incorporated by reference to our registration statement on Form S-8 (File No. 333-230590) filed on March 29, 2019. |
*** |
Deemed to be incorporated by reference into the registration statement on Form F-3 (No. of Mitsubishi UFJ Financial Group, Inc. and to be a part thereof. |
**** |
Deemed to be incorporated as Annex A to the registration statement on Form F-3 (No. of Mitsubishi UFJ Financial Group, Inc. and to be a part thereof. |
***** |
Incorporated by reference to Morgan Stanley’s annual report on Form 10-K (File No. 001-11758) filed on February 26, 2021. |
MITSUBISHI UFJ FINANCIAL GROUP, INC. | ||
By: |
/s/ H IRONORI KAMEZAWA | |
Name: |
Hironori Kamezawa | |
Title: |
President & Group Chief Executive Officer |
This ‘20-F’ Filing | Date | Other Filings | ||
---|---|---|---|---|
12/31/37 | ||||
8/31/24 | ||||
3/31/24 | ||||
6/30/23 | ||||
1/1/23 | ||||
3/31/22 | 13F-HR | |||
1/1/22 | ||||
12/31/21 | 13F-HR | |||
12/17/21 | ||||
10/1/21 | ||||
9/30/21 | 13F-HR, 6-K | |||
9/29/21 | ||||
8/31/21 | ||||
Filed on: | 7/9/21 | IRANNOTICE | ||
7/1/21 | ||||
6/30/21 | 13F-HR | |||
6/29/21 | 6-K | |||
6/24/21 | ||||
5/17/21 | 6-K | |||
4/5/21 | ||||
4/2/21 | ||||
4/1/21 | 6-K | |||
For Period end: | 3/31/21 | 13F-HR, 6-K | ||
3/5/21 | ||||
2/28/21 | ||||
2/26/21 | ||||
2/16/21 | ||||
2/5/21 | SC 13G | |||
1/31/21 | ||||
1/29/21 | SC 13G/A | |||
1/4/21 | ||||
12/31/20 | 13F-HR, 5 | |||
12/30/20 | ||||
12/18/20 | ||||
12/15/20 | ||||
11/30/20 | 6-K | |||
10/31/20 | ||||
10/1/20 | ||||
9/30/20 | 13F-HR, 6-K | |||
8/31/20 | ||||
7/31/20 | ||||
7/27/20 | ||||
7/10/20 | 20-F, 6-K/A, IRANNOTICE | |||
7/1/20 | ||||
6/30/20 | 13F-HR, 6-K | |||
6/25/20 | ||||
5/31/20 | ||||
5/6/20 | ||||
4/30/20 | 6-K | |||
4/1/20 | ||||
3/31/20 | 13F-HR, 20-F, 6-K | |||
3/1/20 | ||||
1/30/20 | ||||
1/20/20 | ||||
1/6/20 | ||||
1/1/20 | ||||
12/31/19 | 13F-HR | |||
12/23/19 | 4 | |||
12/18/19 | ||||
12/15/19 | ||||
11/18/19 | ||||
11/14/19 | ||||
11/13/19 | 6-K | |||
10/10/19 | ||||
10/1/19 | ||||
9/16/19 | ||||
8/2/19 | ||||
7/22/19 | ||||
6/30/19 | 13F-HR | |||
5/1/19 | ||||
4/29/19 | 6-K | |||
4/1/19 | ||||
3/31/19 | 13F-HR, 20-F | |||
3/29/19 | S-8 | |||
3/25/19 | ||||
3/1/19 | ||||
1/22/19 | ||||
1/1/19 | ||||
12/31/18 | 13F-HR | |||
12/10/18 | ||||
11/14/18 | ||||
11/13/18 | 6-K | |||
9/30/18 | 13F-HR, 6-K | |||
8/3/18 | ||||
7/20/18 | ||||
7/12/18 | 20-F, IRANNOTICE | |||
7/6/18 | ||||
7/1/18 | ||||
6/30/18 | 13F-HR | |||
6/14/18 | ||||
6/4/18 | ||||
5/16/18 | ||||
5/15/18 | 6-K | |||
4/1/18 | ||||
3/31/18 | 13F-HR, 20-F | |||
1/1/18 | ||||
12/29/17 | ||||
12/26/17 | 6-K | |||
11/7/17 | ||||
10/1/17 | ||||
9/30/17 | 13F-HR | |||
4/1/17 | ||||
3/31/17 | 13F-HR, 20-F | |||
12/1/16 | 6-K | |||
7/1/16 | ||||
6/30/16 | 13F-HR | |||
3/31/16 | 13F-HR, 20-F | |||
1/1/16 | ||||
6/25/15 | 6-K | |||
1/5/15 | ||||
7/1/14 | ||||
3/6/14 | ||||
1/1/14 | ||||
12/18/13 | 6-K | |||
3/31/13 | 13F-HR, 20-F | |||
1/1/13 | ||||
4/5/12 | ||||
3/31/12 | 13F-HR, 20-F | |||
7/20/11 | 6-K | |||
6/30/11 | 13F-HR, 4, UPLOAD | |||
7/21/10 | ||||
6/18/10 | ||||
5/1/10 | ||||
11/4/08 | SC 13D/A, SC 13E3/A | |||
10/21/08 | ||||
10/13/08 | 3, 6-K | |||
9/30/07 | ||||
6/28/07 | 6-K | |||
3/31/07 | 20-F | |||
10/1/05 | ||||
6/29/05 | 6-K | |||
12/22/04 | ||||
4/2/01 | ||||
List all Filings |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 7/24/23 Mitsubishi Ufj Fin’l Group Inc. 20-F 3/31/23 207:60M 7/08/22 Mitsubishi Ufj Fin’l Group Inc. 20-F 3/31/22 208:101M 4/12/22 Mitsubishi Ufj Fin’l Group Inc. 424B2 2:729K Donnelley … Solutions/FA 4/11/22 Mitsubishi Ufj Fin’l Group Inc. 424B5 1:689K Donnelley … Solutions/FA 1/12/22 Mitsubishi Ufj Fin’l Group Inc. 424B2 1:678K Donnelley … Solutions/FA 1/11/22 Mitsubishi Ufj Fin’l Group Inc. 424B5 1:661K Donnelley … Solutions/FA 10/06/21 Mitsubishi Ufj Fin’l Group Inc. 424B2 1:691K Donnelley … Solutions/FA 10/05/21 Mitsubishi Ufj Fin’l Group Inc. 424B5 1:678K Donnelley … Solutions/FA 7/13/21 Mitsubishi Ufj Fin’l Group Inc. 424B2 1:683K Donnelley … Solutions/FA 7/12/21 Mitsubishi Ufj Fin’l Group Inc. 424B5 1:670K Donnelley … Solutions/FA |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 2/26/21 Morgan Stanley 10-K 12/31/20 225:50M 3/29/19 Mitsubishi Ufj Fin’l Group Inc. S-8 3/29/19 3:117K Donnelley … Solutions/FA 7/12/18 Mitsubishi Ufj Fin’l Group Inc. 20-F 3/31/18 238:42M Donnelley … Solutions/FA |