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 July, 2009
MITSUBISHI UFJ FINANCIAL GROUP, INC.
(Translation of registrant’s name into English)
7-1, Marunouchi 2-chome, Chiyoda-ku
Tokyo 100-8330, Japan
(Address of principal executive 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: July 31, 2009
| Mitsubishi UFJ Financial Group, Inc. | ||
| By: | /S/ Manabu Ishii | |
| Name: | Manabu Ishii | |
| Title: | Chief Manager, General Affairs Corporate Administration Division | |
Consolidated Summary Report
<under Japanese GAAP>
for the three months ended June 30, 2009
July 31, 2009
| Company name: | Mitsubishi UFJ Financial Group, Inc. | |
| Stock exchange listings: | Tokyo, Osaka, Nagoya, New York | |
| Code number: | 8306 | |
| URL |
http://www.mufg.jp/ | |
| Representative: | Nobuo Kuroyanagi, President & CEO | |
| For inquiry: | Takeaki Ishii, General Manager - Financial Planning Division / Financial Accounting Office | |
| TEL (03) 3240-7200 |
| Quarterly securities report issuing date: | August 14, 2009 | |||||
| Trading accounts: Established | ||||||
| Dividend payment date: - | ||||||
| (Amounts of less than one million yen are rounded down.) | ||||||
1. Consolidated Financial Data for the Three Months ended June 30, 2009
| (1) | Results of Operations |
| (% represents the change from the same period in the previous fiscal year) | |||||||||||||
| Ordinary Income | Ordinary Profits | Net Income | |||||||||||
| Three months ended |
million yen | % | million yen | % | million yen | % | |||||||
| June 30, 2009 | 1,335,642 | (7.1 | ) | 136,328 | 40.7 | 75,940 | 48.3 | ||||||
| June 30, 2008 | 1,438,000 | — | 96,863 | — | 51,195 | — | |||||||
| Three months ended |
Net Income per Common Stock |
Diluted Net Income per Common Stock |
||||||||
| yen | yen | |||||||||
| June 30, 2009 | 6.52 | 6.52 | ||||||||
| June 30, 2008 | 4.91 | 4.88 |
| (2) | Financial Conditions |
| As of |
Total Assets | Total Net Assets |
Net Assets Attributable to MUFG Shareholders to Total Assets (*1) |
Total Net Assets per Common Stock | ||||
| million yen | million yen | % | yen | |||||
| June 30, 2009 |
199,294,513 | 9,383,353 | 3.8 | 595.17 | ||||
| March 31, 2009 |
198,733,906 | 8,570,641 | 3.4 | 528.67 |
(Reference) Shareholders’ equity as of June 30, 2009: 7,567,482 million yen; March 31, 2009: 6,803,617 million yen
| (*1) | “Net assets attributable to MUFG shareholders to total assets” is computed under the formula shown below: |
(Total net assets - Subscription rights to shares - Minority interests) / Total assets
| (*2) | “Risk-adjusted Capital Ratio” will be disclosed separately in mid-August 2009. |
2. Dividends on Common Stock
| Dividends per Share | ||||||||||
| 1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | Annual | ||||||
| Fiscal year | yen | yen | yen | yen | yen | |||||
| ended March 31, 2009 | — | 7.00 | — | 5.00 | 12.00 | |||||
| ending March 31, 2010 | — | —— | —— | —— | ||||||
| ending March 31, 2010 (Forecast) | —— | 6.00 | — | 6.00 | 12.00 | |||||
| (*1) | Revision of forecasts for dividends on the presentation date of this Consolidated Summary Report : None |
| (*2) | Please refer to “Dividends on Preferred Stocks” on page 3 for information with regard to the dividends on stocks other than common stock. |
3. Earnings Forecasts for the Fiscal Year ending March 31, 2010 (Consolidated)
| (*) | Revision of earnings forecasts on the presentation date of this Consolidated Summary Report : None |
MUFG has the target of 300.0 billion yen of consolidated net income for the fiscal year ending March 31, 2010.
(There are no changes to our earnings targets released on May 19, 2009.)
MUFG is engaged in financial service businesses including banking business, trust banking business, securities business and credit card/loan businesses, etc.
Because there are various uncertainties caused by economic situation, market environments and other factors in these businesses, MUFG discloses a target of its consolidated net income instead of a forecast of its performance.
1
Mitsubishi UFJ Financial Group, Inc.
4. Other
| (1) | Changes in scope of consolidation involving “Specified Subsidiaries” (Tokutei Kogaisha) during the period: None |
| (2) | Adoption of simplified accounting methods or accounting methods used specifically for quarterly consolidated financial statements: Adopted |
(*) Please refer to 4.Other of “Qualitative Information and Financial Statements” on page 6.
| (3) | Changes in accounting policies, procedures and presentation rules applied in the preparation of the quarterly consolidated financial statements: |
| (A) Changes due to revision of accounting standards: | None | |
| (B) Changes due to other reasons: | None | |
| (4) | Number of common stocks outstanding at the end of the period |
(A) Total stocks outstanding including treasury stocks:
| June 30, 2009 | 11,648,360,720 shares | Mar.31, 2009 | 11,648,360,720 shares |
(B) Treasury stocks:
| June 30, 2009 | 8,958,401 shares | Mar.31, 2009 | 9,161,592 shares |
(C) Average outstanding stocks:
| Three months ended June 30, 2009 | 11,639,223,728 shares | |||
| Three months ended June 30, 2008 | 10,356,510,491 shares |
*Notes for using forecasted information etc.
| 1. | This financial summary report contains forward-looking statements regarding estimations, forecasts, targets and plans in relation to the results of operations, financial conditions and other overall management of the company and/or the group as a whole (the “forward-looking statements”). The forward-looking statements are made based upon, among other things, the company’s current estimations, perceptions and evaluations. In addition, in order for the company to adopt such estimations, forecasts, targets and plans regarding future events, certain assumptions have been made. Accordingly, due to various risks and uncertainties, the statements and assumptions are inherently not guarantees of future performance, may be considered differently from alternative perspectives and may result in material differences from the actual result. For the main factors that may effect the current forecasts, please see Consolidated Summary Report, Annual Securities Report, Disclosure Book, Annual Report, and other current disclosures that the company has announced. |
| 2. | The financial information included in this financial summary report is prepared and presented in accordance with accounting principles generally accepted in Japan (“Japanese GAAP”). Differences exist between Japanese GAAP and the accounting principles generally accepted in the United States (“U.S. GAAP”) in certain material respects. Such differences have resulted in the past, and are expected to continue to result for this period and future periods, in amounts for certain financial statement line items under U.S. GAAP to differ significantly from the amounts under Japanese GAAP. For example, differences in consolidation basis or accounting for business combinations, including but not limited to amortization and impairment of goodwill, could result in significant differences in our reported financial results between Japanese GAAP and U.S. GAAP. Readers should consult their own professional advisors for an understanding of the differences between Japanese GAAP and U.S. GAAP and how those differences might affect our reported financial results. To date, we have published U.S. GAAP financial results only on a semiannual and annual basis, and currently do not expect to publish U.S. GAAP financial results for the period reported in this financial summary report. |
2
Mitsubishi UFJ Financial Group, Inc.
(Dividends on preferred stocks)
Dividends per share relating to preferred stocks are as follows:
| Dividends per Share | ||||||||||
| 1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | Annual | ||||||
| yen | yen | yen | yen | yen | ||||||
| Preferred Stock First Series of Class 3 |
||||||||||
| Fiscal year ended March 31, 2009 |
— | 30.00 | — | 30.00 | 60.00 | |||||
| Fiscal year ending March 31, 2010 |
— | —— | —— | —— | ||||||
| Fiscal year ending March 31, 2010 (Forecast) |
—— | 30.00 | — | 30.00 | 60.00 | |||||
| Dividends per Share | ||||||||||
| 1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | Annual | ||||||
| yen | yen | yen | yen | yen | ||||||
| Preferred Stock First Series of Class 5 |
||||||||||
| Fiscal year ended March 31, 2009 |
—— | —— | — | 43.00 | 43.00 | |||||
| Fiscal year ending March 31, 2010 |
— | —— | —— | —— | ||||||
| Fiscal year ending March 31, 2010 (Forecast) |
—— | 57.50 | — | 57.50 | 115.00 | |||||
| (Note) MUFG issued Preferred Stock First Series of Class 5 in November 2008. | ||||||||||
| Dividends per Share | ||||||||||
| 1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | Annual | ||||||
| yen | yen | yen | yen | yen | ||||||
| Preferred Stock Class 11 |
||||||||||
| Fiscal year ended March 31, 2009 |
— | 2.65 | — | 2.65 | 5.30 | |||||
| Fiscal year ending March 31, 2010 |
— | —— | —— | —— | ||||||
| Fiscal year ending March 31, 2010 (Forecast) |
—— | 2.65 | — | 2.65 | 5.30 | |||||
| Dividends per Share | ||||||||||
| 1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | Annual | ||||||
| yen | yen | yen | yen | yen | ||||||
| Preferred Stock Class 12 |
||||||||||
| Fiscal year ended March 31, 2009 |
— | 5.75 | — | —— | 5.75 | |||||
| (Note) MUFG repurchased Preferred Stock Class 12 until February 2009 due to requests for repurchase and cancelled until February 2009. | ||||||||||
3
Mitsubishi UFJ Financial Group, Inc.
Qualitative Information and Financial Statements
1. Qualitative information related to the consolidated results of operations
With respect to the economic and financial environment for the April-June period of fiscal 2009, pressures for reducing output have eased and the United States and Europe have passed through the worst of the recession aided by unprecedented fiscal and monetary policy measures. Asian economies have hit bottom ahead of the economies in the United States and Europe thanks to the economic stimulus measures. With regards to the Japanese economy, exports and production bottomed out, reflecting the pickup in overseas economies, largest-ever economic measures and the progress in inventory adjustment. Meanwhile, private consumption was also boosted by the effects of economic stimulus measures. Business fixed investment, however, declined as economic activity remained at an extremely low level and corporate performance continued to deteriorate. The employment and income situation also followed a worsening trend.
In the financial environment, the Federal Reserve Board kept the federal funds rate close to 0 percent in reaction to soaring non-performing loans. In the Euro zone, the European Central Bank cut its key interest rate to 1.0 percent. Japan’s short-term interest rates moderately declined, in response to the Bank of Japan’s continued monetary easing policy such as the ultra-low interest rate policy, purchase of CP and corporate bonds, and the special funds-supplying operations to facilitate corporate financing. Long-term interest rates followed a downward trend, after rising toward the beginning of June amid concerns over the worsening of fiscal conditions due to large-scale economic stimulus measures in Japan and abroad. In the foreign exchange market, the dollar fluctuated in the upper 90 yen range, reflecting changes in investors’ expectations for economic recovery and risk aversion stance.
Under such business environment, consolidated gross profits for the three months ended June 30, 2009 increased by 72.1 billion yen from the three months ended June 30, 2008 to 873.4 billion yen. Net interest income increased mainly due to an increase in overseas lending income, lower funding cost in foreign currencies and a new consolidation of ACOM CO., LTD. On the other hand, trust fees and net fees and commissions decreased mainly due to lower sales of investment trusts related products caused by the market deterioration.
General and administrative expenses slightly increased from the three months ended June 30, 2008, to 541.5 billion yen due to the new consolidation of ACOM CO., LTD., in spite of a progress in cost reduction and a decrease of expenses relating to system integration.
Total credit costs for the three months ended June 30, 2009 increased by 48.1 billion yen from the three months ended June 30, 2008 to 189.8 billion yen, mainly due to an increase in credit costs from our subsidiaries other than BTMU and MUTB, and the newly consolidated subsidiary, ACOM CO., LTD., while combined credit costs from BTMU and MUTB decreased. Net gains on equity securities for the three months ended June 30, 2009 was 30.2 billion yen, an increase of 40.3 billion yen from the three months ended June 30, 2008, due to a decrease in losses on write-down of equity securities.
Based on the above results, consolidated net income for the three months ended June 30, 2009 was 75.9 billion yen, an increase of 24.7 billion yen from the three months ended June 30, 2008.
4
Mitsubishi UFJ Financial Group, Inc.
| (in billions of Japanese yen) |
For the three months ended June 30, 2009 |
For the three months ended June 30, 2008 |
Increase (Decrease) |
||||||
| Gross Profits before credit costs for trust accounts |
873.4 | 801.2 | 72.1 | ||||||
| General and administrative expenses |
541.5 | 536.5 | 5.0 | ||||||
| Net business profits before credit costs for trust accounts and provision for general allowance for credit losses |
331.8 | 264.7 | 67.1 | ||||||
| Credit costs |
(189.8 | ) | (143.1 | ) | (46.7 | ) | |||
| Net gains (losses) on equity securities |
30.2 | (10.1 | ) | 40.3 | |||||
| Other non-recurring gains (losses) |
(35.9 | ) | (14.5 | ) | (21.3 | ) | |||
| Ordinary profits |
136.3 | 96.8 | 39.4 | ||||||
| Net income (loss) |
75.9 | 51.1 | 24.7 | ||||||
| Total credit costs |
(189.8 | ) | (141.7 | ) | (48.1 | ) |
2. Qualitative information related to the consolidated financial conditions
Total assets as of June 30, 2009 increased by 560.6 billion yen from March 31, 2009 to 199,294.5 billion yen, and total net assets as of June 30, 2009 increased by 812.7 billion yen from March 31, 2009 to 9,383.3 billion yen. The increase in total net assets reflected an increase of total valuation and translation adjustments of 760.1 billion yen, which was mainly due to an increase of net unrealized gains on other securities by the higher stock prices.
With regards to major items of assets, securities as of June 30, 2009 increased by 4,843.0 billion yen from March 31, 2009 to 53,157.1 billion yen and loans and bills discounted as of June 30, 2009 decreased by 1,011.8 billion yen from March 31, 2009 to 91,044.9 billion yen. With regards to major items of liabilities, deposits as of June 30, 2009 increased by 2,083.2 billion yen from March 31, 2009 to 122,232.8 billion yen.
3. Qualitative information related to the consolidated earnings forecasts
MUFG has the target of 300.0 billion yen of consolidated net income for the fiscal year ending March 31, 2010. (There are no changes to our earnings targets released on May 19, 2009.)
MUFG is engaged in financial service businesses including banking business, trust banking business, securities business and credit card/loan businesses, etc. Because there are various uncertainties caused by economic situation, market environments and other factors in these businesses, MUFG discloses a target of its consolidated net income instead of a forecast of its performance.
5
Mitsubishi UFJ Financial Group, Inc.
4. Other
| (1) | Changes in scope of consolidation involving “Specified Subsidiaries” (Tokutei Kogaisha) during the period: |
Not applicable
| (2) | Simplified accounting methods and accounting methods used specifically for quarterly consolidated financial statements |
(Simplified accounting methods)
| (i) | Depreciation |
Depreciation for tangible fixed assets, which are depreciated under the declining-balance method, is computed by proportionally allocating the estimated depreciation for the fiscal year.
| (ii) | Allowance for credit losses |
Except for claims on “bankrupt borrowers” and “substantially bankrupt borrowers” and claims on “potentially bankrupt borrowers” for which allowances are provided in specific amounts, allowances for credit losses are calculated based on reasonable measures, including the loan loss ratios used for the previous annual period-end settlement.
| (iii) | Taxes |
Income taxes are calculated in a manner similar to that in which they were calculated in the previous annual period-end settlement. However, immaterial adjustment items and immaterial tax credits are not considered in calculating the taxable income.
| (iv) | Collectability of deferred tax assets |
The collectability of deferred tax assets is determined based on the earnings forecasts and tax planning used in the previous annual period-end settlement.
| (v) | Deferred and accrued accounts |
Amounts of certain deferred and accrued accounts are estimated based on reasonable measures.
| (3) | Changes in accounting policies, procedures and presentation rules applied in the preparation of the quarterly consolidated financial statements: |
Not applicable
6
Mitsubishi UFJ Financial Group, Inc.
5. Consolidated Financial Statements
(1) Consolidated Balance Sheets
| (in millions of yen) | As of June 30, 2009 |
As of March 31, 2009 |
||||
| Assets: |
||||||
| Cash and due from banks |
6,874,794 | 6,562,376 | ||||
| Call loans and bills bought |
383,662 | 293,415 | ||||
| Receivables under resale agreements |
2,588,869 | 2,544,848 | ||||
| Receivables under securities borrowing transactions |
5,212,131 | 6,797,026 | ||||
| Monetary claims bought |
3,286,166 | 3,394,519 | ||||
| Trading assets |
16,945,273 | 17,452,426 | ||||
| Money held in trust |
343,726 | 326,298 | ||||
| Securities |
53,157,169 | 48,314,122 | ||||
| Allowance for losses on securities |
(36,225 | ) | (37,104 | ) | ||
| Loans and bills discounted |
91,044,949 | 92,056,820 | ||||
| Foreign exchanges |
931,777 | 1,058,640 | ||||
| Other assets |
6,785,237 | 7,795,056 | ||||
| Tangible fixed assets |
1,401,298 | 1,380,900 | ||||
| Intangible fixed assets |
1,195,278 | 1,209,783 | ||||
| Deferred tax assets |
973,302 | 1,235,139 | ||||
| Customers’ liabilities for acceptances and guarantees |
9,434,636 | 9,534,900 | ||||
| Allowance for credit losses |
(1,227,534 | ) | (1,185,266 | ) | ||
| Total assets |
199,294,513 | 198,733,906 | ||||
| Liabilities: |
||||||
| Deposits |
122,232,841 | 120,149,591 | ||||
| Negotiable certificates of deposit |
8,280,267 | 7,570,547 | ||||
| Call money and bills sold |
2,654,692 | 2,272,292 | ||||
| Payables under repurchase agreements |
11,981,624 | 11,926,997 | ||||
| Payables under securities lending transactions |
3,640,413 | 4,270,365 | ||||
| Commercial papers |
110,765 | 141,436 | ||||
| Trading liabilities |
9,242,770 | 9,868,818 | ||||
| Borrowed money |
6,430,060 | 7,729,256 | ||||
| Foreign exchanges |
856,357 | 804,425 | ||||
| Short-term bonds payable |
365,789 | 323,959 | ||||
| Bonds payable |
6,758,084 | 6,485,158 | ||||
| Due to trust accounts |
1,696,447 | 1,798,223 | ||||
| Other liabilities |
5,639,866 | 6,634,917 | ||||
| Reserve for bonuses |
14,195 | 42,615 | ||||
| Reserve for bonuses to directors |
92 | 150 | ||||
| Reserve for retirement benefits |
88,178 | 94,623 | ||||
| Reserve for retirement benefits to directors |
1,472 | 1,958 | ||||
| Reserve for loyalty award credits |
9,621 | 8,854 | ||||
| Reserve for contingent losses |
246,981 | 277,608 | ||||
| Reserves under special laws |
3,092 | 3,339 | ||||
| Deferred tax liabilities |
28,896 | 28,993 | ||||
| Deferred tax liabilities for land revaluation |
194,011 | 194,228 | ||||
| Acceptances and guarantees |
9,434,636 | 9,534,900 | ||||
| Total liabilities |
189,911,159 | 190,163,264 | ||||
7
Mitsubishi UFJ Financial Group, Inc.
| (in millions of yen) | As of June 30, 2009 |
As of March 31, 2009 |
||||
| Net assets: |
||||||
| Capital stock |
1,620,896 | 1,620,896 | ||||
| Capital surplus |
1,897,941 | 1,898,031 | ||||
| Retained earnings |
4,172,187 | 4,168,625 | ||||
| Treasury stock |
(6,649 | ) | (6,867 | ) | ||
| Total shareholders’ equity |
7,684,375 | 7,680,685 | ||||
| Net unrealized gains (losses) on other securities |
(103,144 | ) | (776,397 | ) | ||
| Net deferred gains (losses) on hedging instruments |
110,419 | 111,001 | ||||
| Land revaluation excess |
145,161 | 142,502 | ||||
| Foreign currency translation adjustments |
(213,693 | ) | (302,352 | ) | ||
| Pension liability adjustments of subsidiaries preparing financial statements under US GAAP |
(55,635 | ) | (51,822 | ) | ||
| Total valuation and translation adjustments |
(116,893 | ) | (877,067 | ) | ||
| Subscription rights to shares |
4,981 | 4,650 | ||||
| Minority interests |
1,810,890 | 1,762,372 | ||||
| Total net assets |
9,383,353 | 8,570,641 | ||||
| Total liabilities and net assets |
199,294,513 | 198,733,906 | ||||
8
Mitsubishi UFJ Financial Group, Inc.
(2) Consolidated Statements of Operations
| (in millions of yen) | For the three months ended June 30, 2008 |
For the three months ended June 30, 2009 | ||
| Ordinary income |
1,438,000 | 1,335,642 | ||
| Interest income |
918,641 | 769,671 | ||
| Interest on loans and bills discounted |
564,079 | 521,411 | ||
| Interest and dividends on securities |
159,659 | 145,232 | ||
| Trust fees |
32,375 | 24,397 | ||
| Fees and commissions |
282,742 | 274,263 | ||
| Trading income |
47,044 | 84,341 | ||
| Other business income |
106,023 | 121,602 | ||
| Other ordinary income |
51,173 | 61,365 | ||
| Ordinary expenses |
1,341,136 | 1,199,313 | ||
| Interest expenses |
448,743 | 214,442 | ||
| Interest on deposits |
192,794 | 91,906 | ||
| Fees and commissions |
43,443 | 40,935 | ||
| Trading expenses |
2,880 | — | ||
| Other business expenses |
90,651 | 145,477 | ||
| General and administrative expenses |
560,203 | 566,116 | ||
| Other ordinary expenses |
195,212 | 232,340 | ||
| Ordinary profits |
96,863 | 136,328 | ||
| Extraordinary gains |
17,132 | 14,773 | ||
| Gains on disposition of fixed assets |
558 | 14 | ||
| Gains on loans written-off |
7,615 | 12,336 | ||
| Reversal of reserve for contingent liabilities from financial instruments transactions |
1,309 | 247 | ||
| Impact upon the adoption of the Accounting standard for lease transactions |
6,251 | — | ||
| Others |
1,396 | 2,175 | ||
| Extraordinary losses |
7,598 | 11,836 | ||
| Losses on disposition of fixed assets |
4,101 | 6,684 | ||
| Losses on impairment of fixed assets |
3,496 | 4,454 | ||
| Others |
— | 697 | ||
| Income before income taxes and others |
106,397 | 139,266 | ||
| Income taxes-current |
16,533 | 17,448 | ||
| Income taxes-deferred |
12,334 | 29,099 | ||
| Total taxes |
— | 46,547 | ||
| Minority interests |
26,333 | 16,777 | ||
| Net income |
51,195 | 75,940 | ||
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Mitsubishi UFJ Financial Group, Inc.
| (3) | Notes on Going-Concern Assumption |
Not applicable
| (4) | Notes for Material Changes in Shareholders’ Equity |
Not applicable
10
Selected Financial Information
under Japanese GAAP
For the Three Months Ended June 30, 2009
 |
Mitsubishi UFJ Financial Group, Inc. |
Mitsubishi UFJ Financial Group, Inc.
[Contents]
| 1. Financial Results | 1 | |||
| [ MUFG Consolidated ]*1 | ||||
| [ BTMU and MUTB Combined ]*2*3*4 | ||||
| [ BTMU Non-consolidated ] | ||||
| [ MUTB Non-consolidated ] | ||||
| 2. Non Performing Loans Based on the Financial Reconstruction Law | 5 | |||
| [ BTMU and MUTB Combined including Trust Accounts ] | ||||
| [ BTMU Non-consolidated ] | ||||
| [ MUTB Non-consolidated ] | ||||
| [ MUTB Non-consolidated : Trust Accounts ] | ||||
| 3. Fair Value Information on Securities | 6 | |||
| [ MUFG Consolidated ] | ||||
| [ BTMU Non-consolidated ] | ||||
| [ MUTB Non-consolidated ] | ||||
| 4. ROE | 9 | |||
| [ MUFG Consolidated ] | ||||
| 5. Average Interest Rate Spread | 9 | |||
| [ BTMU and MUTB Combined ] | ||||
| 6. Loans and Deposits | 9 | |||
| [ BTMU and MUTB Combined ] | ||||
| 7. Statements of Trust Assets and Liabilities | 10 | |||
| [ MUTB Non-consolidated ] | ||||
| (Reference) | ||||
| Exposure to Securitized Products and Related Investments |
11 | |||
| (*1) | “MUFG” means Mitsubishi UFJ Financial Group, Inc. |
| (*2) | “BTMU” means The Bank of Tokyo-Mitsubishi UFJ, Ltd. |
| (*3) | “MUTB” means Mitsubishi UFJ Trust and Banking Corporation. |
| (*4) | “BTMU and MUTB Combined” means simple sum of “BTMU” and “MUTB” without consolidation processes. |
Mitsubishi UFJ Financial Group, Inc.
1. Financial Results
MUFG Consolidated
| (in billions of yen) | |||||||||
| For the three months ended | Increase (Decrease) (A)-(B) |
||||||||
| June 30, 2009 (A) |
June 30, 2008 (B) |
||||||||
| Gross profits |
873.4 | 801.2 | 72.1 | ||||||
| Gross profits before credit costs for trust accounts |
873.4 | 801.2 | 72.1 | ||||||
| Net interest income |
555.2 | 470.0 | 85.2 | ||||||
| Trust fees |
24.3 | 32.3 | (7.9 | ) | |||||
| Credit costs for trust accounts (1) |
— | — | — | ||||||
| Net fees and commissions |
233.3 | 239.2 | (5.9 | ) | |||||
| Net trading profits |
84.3 | 44.1 | 40.1 | ||||||
| Net other business profits |
(23.8 | ) | 15.3 | (39.2 | ) | ||||
| Net gains (losses) on debt securities |
17.8 | 7.3 | 10.4 | ||||||
| General and administrative expenses |
541.5 | 536.5 | 5.0 | ||||||
| Amortization of goodwill |
8.2 | 4.2 | 3.9 | ||||||
| Net business profits before credit costs for trust accounts, |
340.1 | 268.9 | 71.1 | ||||||
| Net business profits before credit costs for trust accounts and |
331.8 | 264.7 | 67.1 | ||||||
| Provision for general allowance for credit losses (2) |
(26.6 | ) | (1.6 | ) | (24.9 | ) | |||
| Net business profits * |
305.2 | 263.0 | 42.1 | ||||||
| Net non-recurring gains (losses) |
(168.9 | ) | (166.1 | ) | (2.7 | ) | |||
| Credit costs (3) |
(163.2 | ) | (141.4 | ) | (21.7 | ) | |||
| Losses on loan write-offs |
(52.9 | ) | (48.7 | ) | (4.2 | ) | |||
| Provision for specific allowance for credit losses |
(108.4 | ) | (92.3 | ) | (16.1 | ) | |||
| Other credit costs |
(1.7 | ) | (0.3 | ) | (1.3 | ) | |||
| Net gains (losses) on equity securities |
30.2 | (10.1 | ) | 40.3 | |||||
| Gains on sales of equity securities |
38.4 | 19.4 | 18.9 | ||||||
| Losses on sales of equity securities |
(2.6 | ) | (0.8 | ) | (1.7 | ) | |||
| Losses on write-down of equity securities |
(5.5 | ) | (28.7 | ) | 23.1 | ||||
| Profits (losses) from investments in affiliates |
0.4 | 6.7 | (6.2 | ) | |||||
| Other non-recurring gains (losses) |
(36.4 | ) | (21.2 | ) | (15.1 | ) | |||
| Ordinary profits |
136.3 | 96.8 | 39.4 | ||||||
| Net extraordinary gains (losses) |
2.9 | 9.5 | (6.5 | ) | |||||
| Reversal of allowance for credit losses (4) |
— | — | — | ||||||
| Reversal of reserve for contingent losses included in credit costs (5) |
— | 1.3 | (1.3 | ) | |||||
| Income before income taxes and others |
139.2 | 106.3 | 32.8 | ||||||
| Income taxes-current |
17.4 | 16.5 | 0.9 | ||||||
| Income taxes-deferred |
29.0 | 12.3 | 16.7 | ||||||
| Total taxes |
46.5 | 28.8 | 17.6 | ||||||
| Minority interests |
16.7 | 26.3 | (9.5 | ) | |||||
| Net income |
75.9 | 51.1 | 24.7 | ||||||
|
Note: |
|||||||||
| * Net business profits = Banking subsidiaries’ net business profits + Other consolidated entities’ gross profits - Other consolidated entities’ general and administrative expenses - Other consolidated entities’ provision for general allowance for credit losses - Amortization of goodwill - Inter-company transactions |
| ||||||||
| (Reference) |
|||||||||
| Total credit costs (1)+(2)+(3)+(4)+(5) |
(189.8 | ) | (141.7 | ) | (48.1 | ) | |||
1
Mitsubishi UFJ Financial Group, Inc.
BTMU and MUTB Combined
| (in billions of yen) | |||||||||
| For the three months ended | Increase (Decrease) (A)-(B) |
||||||||
| June 30, 2009 (A) |
June 30, 2008 (B) |
||||||||
| Gross profits |
507.8 | 517.1 | (9.3 | ) | |||||
| Gross profits before credit costs for trust accounts |
507.8 | 517.1 | (9.3 | ) | |||||
| Net interest income |
375.0 | 367.1 | 7.9 | ||||||
| Trust fees |
18.1 | 24.5 | (6.3 | ) | |||||
| Credit costs for trust accounts (1) |
— | — | — | ||||||
| Net fees and commissions |
108.8 | 105.4 | 3.3 | ||||||
| Net trading profits |
37.1 | 6.2 | 30.8 | ||||||
| Net other business profits |
(31.4 | ) | 13.7 | (45.2 | ) | ||||
| Net gains (losses) on debt securities |
16.4 | 9.0 | 7.4 | ||||||
| General and administrative expenses |
315.8 | 343.3 | (27.4 | ) | |||||
| Net business profits before credit costs for trust accounts and |
191.9 | 173.8 | 18.0 | ||||||
| Provision for general allowance for credit losses (2) |
2.0 | (7.2 | ) | 9.3 | |||||
| Net business profits |
194.0 | 166.6 | 27.3 | ||||||
| Net non-recurring gains (losses) |
(94.9 | ) | (127.7 | ) | 32.8 | ||||
| Credit costs (3) |
(80.5 | ) | (97.6 | ) | 17.0 | ||||
| Losses on loan write-offs |
(49.3 | ) | (45.2 | ) | (4.1 | ) | |||
| Provision for specific allowance for credit losses |
(30.2 | ) | (47.9 | ) | 17.7 | ||||
| Other credit costs |
(1.0 | ) | (4.4 | ) | 3.4 | ||||
| Net gains (losses) on equity securities |
18.6 | (11.6 | ) | 30.3 | |||||
| Gains on sales of equity securities |
26.9 | 16.9 | 9.9 | ||||||
| Losses on sales of equity securities |
(2.4 | ) | (0.6 | ) | (1.7 | ) | |||
| Losses on write-down of equity securities |
(5.7 | ) | (27.9 | ) | 22.1 | ||||
| Other non-recurring gains (losses) |
(32.9 | ) | (18.3 | ) | (14.6 | ) | |||
| Ordinary profits |
99.1 | 38.9 | 60.1 | ||||||
| Net extraordinary gains (losses) |
8.2 | 3.0 | 5.1 | ||||||
| Reversal of allowance for credit losses (4) |
1.4 | 0.3 | 1.0 | ||||||
| Reversal of reserve for contingent losses included in credit costs (5) |
3.7 | 0.6 | 3.0 | ||||||
| Income before income taxes |
107.3 | 41.9 | 65.3 | ||||||
| Income taxes-current |
6.3 | 0.3 | 5.9 | ||||||
| Income taxes-deferred |
28.5 | 8.9 | 19.5 | ||||||
| Total taxes |
34.8 | 9.3 | 25.5 | ||||||
| Net income |
72.5 | 32.6 | 39.8 | ||||||
| (Reference) |
|||||||||
| Total credit costs (1)+(2)+(3)+(4)+(5) |
(73.3 | ) | (103.9 | ) | 30.5 | ||||
2
Mitsubishi UFJ Financial Group, Inc.
BTMU Non-consolidated
| (in billions of yen) | |||||||||
| For the three months ended | Increase (Decrease) (A)-(B) |
||||||||
| June 30, 2009 (A) |
June 30, 2008 (B) |
||||||||
| Gross profits |
425.6 | 435.0 | (9.4 | ) | |||||
| Net interest income |
334.6 | 326.3 | 8.3 | ||||||
| Net fees and commissions |
91.9 | 85.6 | 6.3 | ||||||
| Net trading profits |
32.5 | 8.4 | 24.1 | ||||||
| Net other business profits |
(33.5 | ) | 14.6 | (48.2 | ) | ||||
| Net gains (losses) on debt securities |
14.0 | 7.6 | 6.3 | ||||||
| General and administrative expenses |
265.2 | 291.4 | (26.2 | ) | |||||
| Net business profits before provision for general allowance for credit losses |
160.4 | 143.5 | 16.8 | ||||||
| Provision for general allowance for credit losses (1) |
2.0 | (7.2 | ) | 9.3 | |||||
| Net business profits |
162.4 | 136.3 | 26.1 | ||||||
| Net non-recurring gains (losses) |
(86.5 | ) | (118.7 | ) | 32.2 | ||||
| Credit costs (2) |
(79.2 | ) | (96.5 | ) | 17.3 | ||||
| Losses on loan write-offs |
(48.0 | ) | (44.2 | ) | (3.8 | ) | |||
| Provision for specific allowance for credit losses |
(30.2 | ) | (47.9 | ) | 17.7 | ||||
| Other credit costs |
(1.0 | ) | (4.4 | ) | 3.4 | ||||
| Net gains (losses) on equity securities |
19.3 | (5.2 | ) | 24.6 | |||||
| Gains on sales of equity securities |
26.6 | 15.4 | 11.2 | ||||||
| Losses on sales of equity securities |
(2.2 | ) | (0.4 | ) | (1.8 | ) | |||
| Losses on write-down of equity securities |
(5.0 | ) | (20.2 | ) | 15.2 | ||||
| Other non-recurring gains (losses) |
(26.6 | ) | (16.9 | ) | (9.7 | ) | |||
| Ordinary profits |
75.9 | 17.5 | 58.3 | ||||||
| Net extraordinary gains (losses) |
6.9 | 2.6 | 4.2 | ||||||
| Reversal of allowance for credit losses (3) |
— | — | — | ||||||
| Reversal of reserve for contingent losses included in credit costs (4) |
3.5 | — | 3.5 | ||||||
| Income before income taxes |
82.8 | 20.2 | 62.5 | ||||||
| Income taxes-current |
6.9 | 0.7 | 6.2 | ||||||
| Income taxes-deferred |
22.9 | 5.4 | 17.5 | ||||||
| Total taxes |
29.9 | 6.2 | 23.7 | ||||||
| Net income |
52.9 | 14.0 | 38.8 | ||||||
| (Reference) |
|||||||||
| Total credit costs (1)+(2)+(3)+(4) |
(73.7 | ) | (103.8 | ) | 30.1 | ||||
3
Mitsubishi UFJ Financial Group, Inc.
MUTB Non-consolidated
| (in billions of yen) | |||||||||
| For the three months ended | Increase (Decrease) (A)-(B) |
||||||||
| June 30, 2009 (A) |
June 30, 2008 (B) |
||||||||
| Gross profits |
82.1 | 82.1 | 0.0 | ||||||
| Gross profits before credit costs for trust accounts |
82.1 | 82.1 | 0.0 | ||||||
| Trust fees |
18.1 | 24.5 | (6.3 | ) | |||||
| Credit costs for trust accounts (1) |
— | — | — | ||||||
| Net interest income |
40.3 | 40.7 | (0.3 | ) | |||||
| Net fees and commissions |
16.8 | 19.8 | (2.9 | ) | |||||
| Net trading profits |
4.6 | (2.1 | ) | 6.7 | |||||
| Net other business profits |
2.0 | (0.9 | ) | 3.0 | |||||
| Net gains (losses) on debt securities |
2.3 | 1.3 | 1.0 | ||||||
| General and administrative expenses |
50.6 | 51.8 | (1.2 | ) | |||||
| Net business profits before credit costs for trust accounts and |
31.5 | 30.3 | 1.2 | ||||||
| Provision for general allowance for credit losses (2) |
— | — | — | ||||||
| Net business profits |
31.5 | 30.3 | 1.2 | ||||||
| Net non-recurring gains (losses) |
(8.3 | ) | (8.9 | ) | 0.6 | ||||
| Credit costs (3) |
(1.2 | ) | (1.0 | ) | (0.2 | ) | |||
| Losses on loan write-offs |
(1.2 | ) | (0.9 | ) | (0.2 | ) | |||
| Provision for specific allowance for credit losses |
— | — | — | ||||||
| Other credit costs |
— | (0.0 | ) | 0.0 | |||||
| Net gains (losses) on equity securities |
(0.7 | ) | (6.4 | ) | 5.6 | ||||
| Gains on sales of equity securities |
0.2 | 1.5 | (1.2 | ) | |||||
| Losses on sales of equity securities |
(0.2 | ) | (0.2 | ) | 0.0 | ||||
| Losses on write-down of equity securities |
(0.7 | ) | (7.6 | ) | 6.8 | ||||
| Other non-recurring gains (losses) |
(6.3 | ) | (1.4 | ) | (4.8 | ) | |||
| Ordinary profits |
23.2 | 21.3 | 1.8 | ||||||
| Net extraordinary gains (losses) |
1.2 | 0.3 | 0.9 | ||||||
| Reversal of allowance for credit losses (4) |
1.4 | 0.3 | 1.0 | ||||||
| Reversal of reserve for contingent losses included in credit costs (5) |
0.2 | 0.6 | (0.4 | ) | |||||
| Income before income taxes |
24.4 | 21.7 | 2.7 | ||||||
| Income taxes-current |
(0.6 | ) | (0.4 | ) | (0.2 | ) | |||
| Income taxes-deferred |
5.5 | 3.5 | 2.0 | ||||||
| Total taxes |
4.8 | 3.1 | 1.7 | ||||||
| Net income |
19.6 | 18.6 | 0.9 | ||||||
| (Reference) |
|||||||||
| Total credit costs (1)+(2)+(3)+(4)+(5) |
0.3 | (0.0 | ) | 0.4 | |||||
4
Mitsubishi UFJ Financial Group, Inc.
2. Non Performing Loans Based on the Financial Reconstruction Law
BTMU and MUTB Combined including Trust Accounts
| (in billions of yen) | ||||||
| As of June 30, 2009 |
As of March 31, 2009 |
|||||
| Bankrupt or De facto Bankrupt |
223.4 | 241.0 | ||||
| Doubtful |
662.7 | 656.0 | ||||
| Special Attention |
359.6 | 292.8 | ||||
| Non Performing Loans |
1,245.7 | 1,189.9 | ||||
| Total loans |
93,494.6 | 95,209.5 | ||||
| Non Performing Loans / Total loans |
1.33 | % | 1.24 | % | ||
|
BTMU Non-consolidated |
||||||
| (in billions of yen) | ||||||
| As of June 30, 2009 |
As of March 31, 2009 |
|||||
| Bankrupt or De facto Bankrupt |
207.2 | 221.7 | ||||
| Doubtful |
620.0 | 614.1 | ||||
| Special Attention |
343.9 | 278.1 | ||||
| Non Performing Loans |
1,171.2 | 1,114.1 | ||||
| Total loans |
82,982.0 | 84,337.2 | ||||
| Non Performing Loans / Total loans |
1.41 | % | 1.32 | % | ||
| MUTB Non-consolidated |
||||||
| (in billions of yen) | ||||||
| As of June 30, 2009 |
As of March 31, 2009 |
|||||
| Bankrupt or De facto Bankrupt |
16.0 | 19.1 | ||||
| Doubtful |
42.4 | 41.5 | ||||
| Special Attention |
15.0 | 13.7 | ||||
| Non Performing Loans |
73.5 | 74.5 | ||||
| Total loans |
10,376.9 | 10,732.4 | ||||
| Non Performing Loans / Total loans |
0.70 | % | 0.69 | % | ||
| MUTB Non-consolidated: Trust Accounts | ||||||
| (in billions of yen) | ||||||
| As of June 30, 2009 |
As of March 31, 2009 |
|||||
| Bankrupt or De facto Bankrupt |
0.1 | 0.1 | ||||
| Doubtful |
0.1 | 0.2 | ||||
| Special Attention |
0.6 | 0.8 | ||||
| Non Performing Loans |
0.9 | 1.3 | ||||
| Total loans |
135.6 | 139.7 | ||||
| Non Performing Loans / Total loans |
0.72 | % | 0.95 | % | ||
5
Mitsubishi UFJ Financial Group, Inc.
3. Fair Value Information on Securities
MUFG Consolidated
The tables include negotiable certificates of deposit in “Cash and due from banks”, beneficiary certificates of commodity investment trusts in “Monetary claims bought” and others in addition to “Securities”. Net unrealized gains (losses) are determined based on the fair values at the end of the fiscal period.
| (in billions of yen) | ||||||||||
| As of June 30, 2009 | As of March 31, 2009 | |||||||||
| Amount on consolidated balance sheet |
Net unrealized gains (losses) |
Amount on consolidated balance sheet |
Net unrealized gains (losses) |
|||||||
| Debt securities being held to maturity |
3,548.2 | 0.7 | 3,250.3 | 5.8 | ||||||
| (in billions of yen) | ||||||||||
| As of June 30, 2009 | As of March 31, 2009 | |||||||||
| Amount on consolidated balance sheet |
Net unrealized gains (losses) |
Amount on consolidated balance sheet |
Net unrealized gains (losses) |
|||||||
| Other securities |
46,257.1 | 70.1 | 41,595.2 | (917.7 | ) | |||||
| Domestic equity securities |
4,351.6 | 500.7 | 3,732.5 | (179.8 | ) | |||||
| Domestic bonds |
29,306.3 | 34.1 | 25,000.4 | (38.5 | ) | |||||
| Other |
12,599.1 | (464.8 | ) | 12,862.2 | (699.4 | ) | ||||
| Foreign equity securities |
278.5 | 29.3 | 107.9 | (20.6 | ) | |||||
| Foreign bonds |
10,192.1 | (54.4 | ) | 10,644.6 | (29.1 | ) | ||||
| Other |
2,128.3 | (439.7 | ) | 2,109.6 | (649.5 | ) | ||||
6
Mitsubishi UFJ Financial Group, Inc.
BTMU Non-consolidated
The tables include negotiable certificates of deposit in “Cash and due from banks”, beneficiary certificates of commodity investment trusts in “Monetary claims bought” and others in addition to “Securities”. Net unrealized gains (losses) are determined based on the fair values at the end of the fiscal period.
| (in billions of yen) | ||||||||||
| As of June 30, 2009 | As of March 31, 2009 | |||||||||
| Amount on balance sheet |
Net unrealized gains (losses) |
Amount on balance sheet |
Net unrealized gains (losses) |
|||||||
| Debt securities being held to maturity |
1,522.9 | 9.8 | 1,555.8 | (6.4 | ) | |||||
| Stocks of subsidiaries and affiliates |
194.4 | (26.8 | ) | 191.1 | (43.0 | ) | ||||
| (in billions of yen) | ||||||||||
| As of June 30, 2009 | As of March 31, 2009 | |||||||||
| Amount on balance sheet |
Net unrealized gains (losses) |
Amount on balance sheet |
Net unrealized gains (losses) |
|||||||
| Other securities |
37,096.8 | (17.8 | ) | 33,142.1 | (729.9 | ) | ||||
| Domestic equity securities |
3,423.5 | 246.8 | 2,943.1 | (294.9 | ) | |||||
| Domestic bonds |
25,370.6 | 39.7 | 20,900.7 | (26.1 | ) | |||||
| Other |
8,302.6 | (304.4 | ) | 9,298.2 | (408.8 | ) | ||||
| Foreign equity securities |
118.1 | 16.5 | 83.8 | (17.7 | ) | |||||
| Foreign bonds |
6,671.1 | (29.4 | ) | 7,772.3 | 18.9 | |||||
| Other |
1,513.3 | (291.4 | ) | 1,442.0 | (410.0 | ) | ||||
7
Mitsubishi UFJ Financial Group, Inc.
MUTB Non-consolidated
The tables include beneficiary rights to the trust in “Monetary claims bought” in addition to “Securities”.
Net unrealized gains (losses) are determined based on the fair values at the end of the fiscal period.
| (in billions of yen) | ||||||||||
| As of June 30, 2009 | As of March 31, 2009 | |||||||||
| Amount on balance sheet |
Net unrealized gains (losses) |
Amount on balance sheet |
Net unrealized gains (losses) |
|||||||
| Debt securities being held to maturity |
1,387.6 | 20.7 | 1,160.6 | 18.0 | ||||||
| Stocks of subsidiaries and affiliates |
2.8 | 0.5 | 2.8 | — | ||||||
| (in billions of yen) | ||||||||||
| As of June 30, 2009 | As of March 31, 2009 | |||||||||
| Amount on balance sheet |
Net unrealized gains (losses) |
Amount on balance sheet |
Net unrealized gains (losses) |
|||||||
| Other securities |
7,282.7 | (59.3 | ) | 6,822.5 | (227.7 | ) | ||||
| Domestic equity securities |
861.3 | 98.4 | 726.4 | (37.0 | ) | |||||
| Domestic bonds |
3,286.4 | 7.7 | 3,556.0 | 3.3 | ||||||
| Other |
3,134.9 | (165.5 | ) | 2,540.0 | (194.0 | ) | ||||
| Foreign equity securities |
29.5 | (1.1 | ) | 21.9 | (1.1 | ) | ||||
| Foreign bonds |
2,534.5 | (35.3 | ) | 2,003.1 | (46.0 | ) | ||||
| Other |
570.7 | (129.0 | ) | 514.9 | (146.7 | ) | ||||
8
Mitsubishi UFJ Financial Group, Inc.
4. ROE
MUFG Consolidated
| (%) | ||||
| For the three months ended June 30, 2009 |
For the three months ended June 30, 2008 | |||
| ROE * |
4.12 | 2.94 | ||
Note:
| * | ROE is computed as follows: |
| Net income × 4 - Equivalent of annual dividends on nonconvertible preferred stocks | × 100 | |
| {(Total shareholders’ equity at the beginning of the period - Number of nonconvertible preferred stocks at the beginning of the period × Issue price + Foreign currency translation adjustments at the beginning of the period) + (Total shareholders’ equity at the end of the period - Number of nonconvertible preferred stocks at the end of the period × Issue price + Foreign currency translation adjustments at the end of the period)} / 2 |
5. Average Interest Rate Spread
BTMU and MUTB Combined
(Domestic business segment)
| (percentage per annum) | ||||
| For the three months ended June 30, 2009 |
For the three months ended June 30, 2008 | |||
| Average interest rate on loans and bills discounted |
1.59 | 1.77 | ||
| Average interest rate on deposits and NCD |
0.21 | 0.32 | ||
| Interest rate spread |
1.37 | 1.45 | ||
| 6. Loans and Deposits
BTMU and MUTB Combined |
||||
| (in billions of yen) | ||||
| As of June 30, 2009 |
As of March 31, 2009 | |||
| Deposits (ending balance) |
114,762.4 | 113,175.5 | ||
| Deposits (average balance) |
113,665.8 | 110,778.1 | ||
| Loans (ending balance) |
82,815.4 | 84,258.7 | ||
| Loans (average balance) |
83,800.8 | 81,196.5 | ||
| (in billions of yen) | ||||
| As of June 30, 2009 |
As of March 31, 2009 | |||
| Domestic Deposits (ending balance) * |
103,394.1 | 104,093.3 | ||
| Individuals |
63,600.8 | 62,881.6 | ||
Note:
| * | Amounts do not include negotiable certificates of deposit and JOM accounts. |
9
Mitsubishi UFJ Financial Group, Inc.
7. Statements of Trust Assets and Liabilities
MUTB Non-consolidated
Including trust assets under service-shared co-trusteeship
| (in billions of yen) | As of June 30, 2009 |
As of March 31, 2009 | ||
| Assets: |
||||
| Loans and bills discounted |
187.0 | 199.7 | ||
| Securities |
47,593.7 | 45,726.8 | ||
| Beneficiary rights to the trust |
27,321.8 | 27,592.8 | ||
| Securities held in custody accounts |
1,041.1 | 1,112.3 | ||
| Monetary claims |
10,730.0 | 11,275.4 | ||
| Tangible fixed assets |
9,187.3 | 9,179.8 | ||
| Intangible fixed assets |
134.6 | 134.7 | ||
| Other claims |
1,409.6 | 1,703.3 | ||
| Call loans |
1,183.3 | 1,268.8 | ||
| Due from banking account |
1,693.0 | 1,794.8 | ||
| Cash and due from banks |
1,901.1 | 1,883.7 | ||
| Total |
102,383.0 | 101,872.6 | ||
| Liabilities: |
||||
| Money trusts |
17,197.7 | 16,421.0 | ||
| Pension trusts |
11,775.0 | 12,053.4 | ||
| Property formation benefit trusts |
12.8 | 12.6 | ||
| Loan trusts |
105.1 | 123.4 | ||
| Investment trusts |
25,647.0 | 25,761.5 | ||
| Money entrusted other than money trusts |
2,169.8 | 2,196.5 | ||
| Securities trusts |
1,154.9 | 1,221.5 | ||
| Monetary claim trusts |
11,117.1 | 11,733.6 | ||
| Equipment trusts |
35.8 | 37.3 | ||
| Land and fixtures trusts |
94.9 | 95.2 | ||
| Composite trusts |
33,072.5 | 32,216.2 | ||
| Total |
102,383.0 | 101,872.6 | ||
| Note: | The table shown above includes master trust assets under the service-shared co-trusteeship between MUTB and The Master Trust Bank of Japan, Ltd. |
10
Mitsubishi UFJ Financial Group, Inc.
(Reference)
Exposure to “Securitized Products and Related Investments”
Our exposure to securitized products and related investments as of June 30, 2009 is outlined below. (Figures are on a managerial basis and rounded off.)
[Balance, net unrealized gains (losses), realized losses]
| • | The balance as of the end of June 2009 decreased to ¥2.19 trillion in total, a decrease of ¥0.11 trillion compared with the balance as of the end of March 2009, mainly due to sales of securitized products, which have risk of being downgraded or deteriorated, and redemptions. |
| • | Net unrealized losses were ¥291 billion, improved by ¥93 billion compared with those at the end of March 2009. |
| • | The effect on the P/L for the three months ended June 30, 2009 was a loss of ¥6 billion, due to losses on the sales of securitized products as described above. |
| (¥bn) | |||||||||||||||||
| of which securities being held to maturity2 |
|||||||||||||||||
| Balance1 | Change from end of March 2009 |
Net unrealized gains (losses) |
Change from end of March 2009 |
Balance | Net unrealized gains (losses) |
||||||||||||
| 1 |
RMBS | 148 | (49 | ) | (27 | ) | 19 | 0 | 0 | ||||||||
| 2 |
Sub-prime RMBS |
44 | (7 | ) | (5 | ) | 4 | 0 | 0 | ||||||||
| 3 |
CMBS | 26 | (1 | ) | (2 | ) | 0 | 0 | 0 | ||||||||
| 4 |
CLOs | 1,667 | (28 | ) | (235 | ) | 51 | 1,309 | (181 | ) | |||||||
| 5 |
Other securitized products (card, etc.) | 330 | (23 | ) | (24 | ) | 22 | 29 | (2 | ) | |||||||
| 6 |
CDOs | 15 | (5 | ) | (3 | ) | 0 | 4 | (2 | ) | |||||||
| 7 |
Sub-prime ABS CDOs |
0 | 0 | 0 | 0 | 0 | 0 | ||||||||||
| 8 |
SIV investments | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||
| 9 |
Total | 2,187 | (106 | ) | (291 | ) | 93 | 1,342 | (184 | ) | |||||||
| 1. | Balance is the amount after impairment and before deducting net unrealized losses. |
The above table does not include mortgage-backed securities arranged and guaranteed by U.S. government sponsored enterprises, etc., Japanese RMBS such as Japanese Housing Finance Agency securities, and products held by funds such as investment trusts. These are also applicable to the tables in this document.
| 2. | Following the publication of “Tentaive Solution on Reclassification of Debt Securities” (Practical Issue Task Force No. 26, The Accounting Standards Board of Japan, December 5, 2008), some of our securitized products were reclassified into “securities being held to maturity” from “securities available-for-sale” at and after the end of January 2009. The balance and net unrealized gains (losses) of the securities being held to maturity in the above table are based on book value before reclassification. |
[Distribution by rating]
| • | AAA-rated products account for 76% of our investments in securitized products. |
| (¥bn) | |||||||||||||||||||||||
| AAA | AA | A | BBB | BB or Lower |
Unrated | Total | |||||||||||||||||
| 10 |
RMBS | 73 | 28 | 25 | 9 | 13 | 0 | 148 | |||||||||||||||
| 11 |
Sub-prime RMBS |
35 | 8 | 0 | 1 | 0 | 0 | 44 | |||||||||||||||
| 12 |
CMBS | 14 | 7 | 4 | 1 | 0 | 0 | 26 | |||||||||||||||
| 13 |
CLOs | 1,340 | 109 | 48 | 88 | 82 | 1 | 1,667 | |||||||||||||||
| 14 |
Other securitized products (card, etc.) | 232 | 41 | 24 | 28 | 2 | 2 | 330 | |||||||||||||||
| 15 |
CDOs | 7 | 2 | 1 | 2 | 3 | 0 | 15 | |||||||||||||||
| 16 |
Sub-prime ABS CDOs |
0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||
| 17 |
SIV investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||
| 18 |
Total | 1,667 | 187 | 102 | 128 | 100 | 3 | 2,187 | |||||||||||||||
| 19 |
Percentage of total | 76 | % | 9 | % | 5 | % | 6 | % | 5 | % | 0 | % | 100 | % | ||||||||
| 20 |
Percentage of total (End of March 2009) | 79 | % | 7 | % | 5 | % | 6 | % | 4 | % | 0 | % | 100 | % | ||||||||
11
Mitsubishi UFJ Financial Group, Inc.
[Credit exposure related to leveraged loan]
| • | We are not engaged in origination or distribution of securitized products of leveraged loans, and therefore, there is no balance of leveraged loans for securitization. |
| • | The following table shows the balances of LBO loans as of the end of June 2009. |
| (¥bn) | |||||||||||||||
| Americas | Europe | Asia | Japan | Total | Change from end of March 2009 |
||||||||||
| 1 |
LBO Loan3 (Balance on a commitment basis) | 62 | 150 | 45 | 290 | 548 | (9 | ) | |||||||
| 2 | Balance on a booking basis |
42 | 133 | 41 | 262 | 478 | 3 | ||||||||
3. Includes balance after refinancing. (Figures are rounded off.)
[Special Purpose Entities (SPEs)]
| • | We are engaged in sponsoring ABCP issuance for securitizing our clients’ assets. |
| • | The balance of assets purchased by ABCP conduits (special purpose companies for issuing ABCP) as of the end of June 2009 was ¥3.75 trillion (¥1.19 trillion overseas). |
| • | The purchased assets are mainly receivables and they do not include residential mortgages. |
[Monoline insurer related]
| • | There is no credit outstanding and credit derivative transactions with monoline insurers. |
<Terminology>
| RMBS | : | Asset-backed securities collateralized by residential mortgages | ||
| CMBS | : | Asset-backed securities collateralized by commercial mortgages | ||
| CLOs | : | Collateralized debt obligations backed by whole commercial loans, revolving credit facilities, or letters of credit | ||
| CDOs | : | Structured credit securities backed by a pool of securities, loans, or credit default swaps | ||
| ABS CDOs | : | Collateralized debt obligations backed by asset backed securities | ||
| SIVs | : | Investment companies established mainly for gaining profit margin by raising funds through subordinated notes and short-term CPs, etc. and investing in relatively long-term securitized products and bonds, etc. | ||
| LBO Loans | : | Loans collateralized by assets and/or future cash flows of an acquired company | ||
| ABCP | : | Commercial papers issued by a Special Purpose Company (SPC) collateralized by receivables |
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