UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________
Form 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of January, 2003
________________
MITSUBISHI TOKYO FINANCIAL GROUP, INC.
(Translation of registrant's name into English)
4-1, Marunouchi 2-chome, Chiyoda-ku
Tokyo 100-6326, Japan
(Address of principal executive offices)
________________
[Indicate by check mark whether the registrant files or
will file annual reports under cover Form 20-F or Form 40-F.]
Form 20-F __X__ Form 40-F _____
[Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.]
Yes _____ No __X__
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date: January 29, 2003
MITSUBISHI TOKYO FINANCIAL GROUP, INC.
By: /S/ Atsushi Inamura
-----------------------------------
Name: Atsushi Inamura
Title: Chief Manager, General Affairs
Corporate Administration Division
Interim Consolidated Summary Report
(under US GAAP)
for the Fiscal Year Ending March 31, 2003
Date: January 29, 2003
Company name (code number): Mitsubishi Tokyo Financial Group, Inc. (8306)
(URL http://www.mtfg.co.jp)
Stock exchange listings: Tokyo, Osaka, New York, London
Headquarters: Tokyo
Representative: Shigemitsu Miki, President & CEO
For inquiry: Katsuhiko Ishizuka, Chief Manager - Financial
Policy Division
(Phone) +81-3-3240-8211
Consolidated financial data for the six months ended September 30, 2002
(1) Operating results
(in millions of yen except per share data and percentages)
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For the six months ended September 30, For the year ended
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2002 2001 March 31, 2002
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Gross revenue 1,389,916 1,531,282 2,717,702
change from corresponding period of the previous year (9.2)% (4.1)%
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Income (loss) before income tax expense(benefit) 267,875 (9,143) (324,233)
change from corresponding period of the previous year - -
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Net income (loss) 103,721 (1,796) (216,534)
change from corresponding period of the previous year - -
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Basic earnings (loss) per common share (in yen) 17,096.50 (1,075.90) (39,733.32)
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Diluted earnings (loss) per common share (in yen) 15,057.33 - -
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Notes:
1. Equity in earnings (loss) of affiliates:
For the six months ended September 30, 2002: (13,023) millions of yen
For the six months ended September 30, 2001: (4,625) millions of yen
For the year ended March 31, 2002: (9,200) millions of yen
2. Average number of shares outstanding:
For the six months ended September 30, 2002: (Common stock) 5,579 thousands of shares
(Preferred stock - class 1) 81 thousands of shares
(Preferred stock - class 2) 100 thousands of shares
For the six months ended September 30, 2001: (Common stock) 5,543 thousands of shares
(Preferred stock - class 1) 81 thousands of shares
(Preferred stock - class 2) 100 thousands of shares
For the year ended March 31, 2002: (Common stock) 5,555 thousands of shares
(Preferred stock - class 1) 81 thousands of shares
(Preferred stock - class 2) 100 thousands of shares
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(2) Balance sheet highlights (in millions of yen except per share data and percentages)
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As of September 30, As of
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2002 2001 March 31, 2002
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Total assets 92,316,029 89,483,354 94,365,114
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Shareholders' equity 2,346,139 2,517,115 2,626,497
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Shareholders' equity as a percentage of total assets 2.5 % 2.8 % 2.8 %
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Shareholders' equity per common share (in yen) 340,578.65 373,778.97 391,595.90
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Note: Number of shares outstanding as of:
September 30, 2002: (Common stock) 5,584 thousands of shares
(Preferred stock - class 1) 81 thousands of shares
(Preferred stock - class 2) 100 thousands of shares
September 30, 2001: (Common stock) 5,546 thousands of shares
(Preferred stock - class 1) 81 thousands of shares
(Preferred stock - class 2) 100 thousands of shares
March 31, 2002: (Common stock) 5,573 thousands of shares
(Preferred stock - class 1) 81 thousands of shares
(Preferred stock - class 2) 100 thousands of shares
(3) Cash flows (in millions of yen)
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For the six months ended September 30, For the year ended
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2002 2001 March 31, 2002
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Net cash provided by (used in) operating activities 1,070,233 269,609 (922,743)
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Net cash provided by (used in) investing activities 801,902 1,796,618 (546,888)
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Net cash provided by (used in) financing activities (1,387,256) (2,001,681) 1,508,172
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Cash and cash equivalents at end of period 2,248,902 1,825,644 1,832,399
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The accompanying unaudited condensed consolidated financial statements are
stated in Japanese yen, the currency of the country in which Mitsubishi Tokyo
Financial Group, Inc. ("MTFG") is incorporated and principally operates. Such
condensed consolidated financial statements have been prepared on the basis of
generally accepted accounting principles and prevailing practices within the
banking industry in the United States of America. In certain respects, the
financial statements reflect adjustments which are not included in the financial
statements of MTFG or its subsidiaries in accordance with applicable statutory
requirements and accounting practices in the countries of incorporation.
-2-
(Reference)
Formulas for computing ratios for the six months ended September 30, 2002 are as
follows.
Basic earnings per common share
Net income - Total dividends for the interim (fiscal) period on preferred stock
-------------------------------------------------------------------------------
Average number of common stock during the interim (fiscal) period *
Diluted earnings per common share
Net income - Total dividends for the interim (fiscal) period on preferred
stock + Adjustments in net income assuming dilution
-------------------------------------------------------------------------
Average number of common stock during the interim
(fiscal) period * + Number of dilutive potential common stock
Shareholders' equity per common share
Shareholders' equity at end of period - Number of preferred stock at end of
period X Issue price
---------------------------------------------------------------------------
Number of common stock at end of period *
* excluding treasury stock and parent's common stock owned by subsidiaries
The foregoing forward-looking statements may be materially affected by
regulatory developments or changes in governmental policies, laws, regulations,
voluntary code of practice and interpretations, including those anticipated to
be announced soon in Japan, changes in the level of Japanese stock prices, the
occurrence of material new corporate bankruptcies, further developments in the
Japanese or world economic environment, and other factors outside MTFG's
control. These forward-looking statements are not guaranties of future
performance, and actual results may differ materially. Please see our latest
annual report for additional information regarding the risks in our business.
-3-
(US GAAP)
Condensed Consolidated Balance Sheets
Mitsubishi Tokyo Financial Group, Inc., and Subsidiaries
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As of September 30, Increase / As of Increase /
2002(A) 2001(B) (Decrease) March 31, (Decrease)
(Unaudited) (Unaudited) (A) - (B) 2002 (C) (A) - (C)
(in millions of yen) (Condensed)
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Assets:
Cash and due from banks 2,248,902 1,825,644 423,258 1,832,399 416,503
Interest-earning deposits in other banks 4,148,565 5,376,805 (1,228,240) 4,332,180 (183,615)
Call loans, funds sold, and
receivables under resale agreements 2,359,578 3,116,152 (756,574) 2,749,440 (389,862)
Receivables under securities borrowing transactions 1,990,738 2,039,577 (48,839) 1,953,242 37,496
Trading account assets 7,327,701 6,542,695 785,006 7,497,253 (169,552)
Investment securities:
Securities available for sale 23,394,650 20,084,360 3,310,290 23,282,816 111,834
Securities being held to maturity 242,168 283,143 (40,975) 272,163 (29,995)
Other investment securities 138,289 170,963 (32,674) 129,498 8,791
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Total investment securities 23,775,107 20,538,466 3,236,641 23,684,477 90,630
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Loans, net of unearned income and deferred loan fees 48,091,245 48,307,770 (216,525) 50,229,725 (2,138,480)
Allowance for credit losses (1,571,232) (1,794,045) 222,813 (1,735,180) 163,948
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Net loans 46,520,013 46,513,725 6,288 48,494,545 (1,974,532)
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Premises and equipment - net 635,139 709,759 (74,620) 681,366 (46,227)
Accrued interest 181,262 222,287 (41,025) 213,697 (32,435)
Customers' acceptance liability 30,775 35,635 (4,860) 37,608 (6,833)
Intangible assets 200,341 181,555 18,786 186,617 13,724
Goodwill 41,070 35,441 5,629 41,386 (316)
Other assets 2,856,838 2,345,613 511,225 2,660,904 195,934
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Total 92,316,029 89,483,354 2,832,675 94,365,114 (2,049,085)
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Liabilities and Shareholders' Equity:
Deposits:
Domestic offices:
Non-interest-bearing 3,544,419 2,962,423 581,996 3,091,407 453,012
Interest-bearing 49,743,486 43,856,571 5,886,915 48,826,155 917,331
Overseas offices, principally interest-bearing 10,556,215 12,354,681 (1,798,466) 11,741,939 (1,185,724)
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Total deposits 63,844,120 59,173,675 4,670,445 63,659,501 184,619
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Debentures 1,198,007 2,993,854 (1,795,847) 2,269,122 (1,071,115)
Call money, funds purchased, and
payables under repurchase agreements 6,504,990 5,072,054 1,432,936 6,329,049 175,941
Payables under securities lending transactions 2,222,914 3,053,634 (830,720) 2,913,983 (691,069)
Due to trust account and other short-term borrowings 4,491,849 5,152,873 (661,024) 5,600,859 (1,109,010)
Trading account liabilities 2,656,621 3,330,651 (674,030) 2,495,768 160,853
Obligations to return securities received as collateral 742,487 604,105 138,382 315,538 426,949
Bank acceptances outstanding 30,775 35,635 (4,860) 37,608 (6,833)
Accrued interest 152,248 236,364 (84,116) 211,010 (58,762)
Long-term debt 5,323,484 5,093,871 229,613 5,183,841 139,643
Other liabilities 2,802,395 2,219,523 582,872 2,722,338 80,057
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Total liabilities 89,969,890 86,966,239 3,003,651 91,738,617 (1,768,727)
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Shareholders' equity:
Capital stock:
Preferred stock - class 1 122,100 122,100 - 122,100 -
Preferred stock - class 2 100,000 100,000 - 100,000 -
Common stock 873,156 873,156 - 873,156 -
Capital surplus 908,461 846,932 61,529 850,835 57,626
Retained earnings:
Appropriated for legal reserve 237,474 227,462 10,012 236,537 937
Unappropriated 72,637 235,406 (162,769) 11,593 61,044
Accumulated other changes in equity from
nonowner sources, net of taxes 115,067 217,651 (102,584) 523,250 (408,183)
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Total 2,428,895 2,622,707 (193,812) 2,717,471 (288,576)
Less treasury stock, at cost 82,756 105,592 (22,836) 90,974 (8,218)
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Shareholders' equity - net 2,346,139 2,517,115 (170,976) 2,626,497 (280,358)
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Total 92,316,029 89,483,354 2,832,675 94,365,114 (2,049,085)
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-4-
(US GAAP)
Condensed Consolidated Statements of Operations
Mitsubishi Tokyo Financial Group, Inc., and Subsidiaries
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For the six months For the year
ended September 30, Increase/ ended
2002 (A) 2001 (B) (Decrease) March 31, 2002
(in millions of yen) (Unaudited) (Unaudited) (A) - (B) (Condensed)
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Interest income:
Loans, including fees 544,972 675,006 (130,034) 1,276,821
Deposits in other banks 41,077 96,233 (55,156) 159,784
Investment securities 196,536 207,379 (10,843) 399,393
Trading account assets 4,706 7,844 (3,138) 15,144
Call loans, funds sold, and receivables under resale
agreements and securities borrowing transactions 31,173 102,160 (70,987) 165,819
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Total 818,464 1,088,622 (270,158) 2,016,961
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Interest expense:
Deposits 130,277 296,623 (166,346) 485,643
Debentures 5,657 11,834 (6,177) 20,491
Call money, funds purchased, and payables under repurchase
agreements and securities lending transactions 53,949 116,534 (62,585) 200,340
Due to trust account, other short-term borrowings,
and trading account liabilities 18,928 25,963 (7,035) 63,250
Long-term debt 76,937 96,563 (19,626) 169,339
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Total 285,748 547,517 (261,769) 939,063
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Net interest income 532,716 541,105 (8,389) 1,077,898
Provision for credit losses 232,632 309,425 (76,793) 601,689
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Net interest income after provision for credit losses 300,084 231,680 68,404 476,209
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Non-interest income:
Fees and commissions 251,841 245,079 6,762 491,864
Foreign exchange gains - net 113,511 62,543 50,968 -
Trading account profits - net 145,548 106,129 39,419 138,460
Investment securities gains - net 28,870 - 28,870 20,598
Other non-interest income 31,682 28,909 2,773 49,819
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Total 571,452 442,660 128,792 700,741
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Non-interest expense:
Salaries and employee benefits 241,732 228,455 13,277 456,568
Occupancy expenses - net 60,418 67,391 (6,973) 134,787
Foreign exchange losses - net - - - 333,034
Investment securities losses - net - 92,882 (92,882) -
Other non-interest expenses 301,511 294,755 6,756 576,794
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Total 603,661 683,483 (79,822) 1,501,183
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Income (loss) before income tax expense(benefit) and
cumulative effect of a change in accounting principle 267,875 (9,143) 277,018 (324,233)
Income tax expense (benefit) 163,622 (1,480) 165,102 (101,832)
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Income (loss) before cumulative effect of a change
in accounting principle 104,253 (7,663) 111,916 (222,401)
Cumulative effect of a change
in accounting principle, net of tax (532) 5,867 (6,399) 5,867
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Net income (loss) 103,721 (1,796) 105,517 (216,534)
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Net income (loss) attributable to common shareholders 95,385 (5,964) 101,349 (220,702)
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(in yen)
Amounts per share:
Basic earnings (loss) per common share - income (loss)
before cumulative effect of a change in accounting principle 17,191.86 (2,134.35) 19,326.21 (40,789.57)
Basic earnings (loss) per common share - net income (loss) 17,096.50 (1,075.90) 18,172.40 (39,733.32)
Diluted earnings (loss) per common share - income (loss) 15,147.97 (2,134.35) 17,282.32 (40,789.57)
before cumulative effect of a change in accounting principle
Diluted earnings (loss) per common share - net income (loss) 15,057.33 (1,075.90) 16,133.23 (39,733.32)
-5-
(US GAAP)
Credit Quality Data
Mitsubishi Tokyo Financial Group, Inc., and Subsidiaries
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As of September 30, Increase/ As of Increase/
2002 (A) 2001 (B) (Decrease) March 31, (Decrease)
(in millions of yen) (Unaudited) (Unaudited) (A) - (B) 2002 (C) (A) - (C)
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Nonaccrual loans 1,779,190 2,354,189 (574,999) 2,173,576 (394,386)
Restructured loans 1,778,659 2,080,856 (302,197) 1,968,366 (189,707)
Accruing loans contractually past due
90 days or more 13,969 18,465 (4,496) 23,040 (9,071)
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Total 3,571,818 4,453,510 (881,692) 4,164,982 (593,164)
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Loans 48,091,245 48,307,770 (216,525) 50,229,725 (2,138,480)
Allowance for credit losses 1,571,232 1,794,045 (222,813) 1,735,180 (163,948)
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-6-