Form 6-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 6-K

 

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 under

the Securities Exchange Act of 1934

For the month of January 2015

Commission File No. 000-54189

 

 

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 office)

 

 

Indicate by check mark whether the registrant files or

will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F      X            Form 40-F              

Indicate by check mark if the registrant is submitting the Form 6-K

in paper as permitted by Regulation S-T Rule 101(b)(1):

Indicate by check mark if the registrant is submitting the Form 6-K

in paper as permitted by Regulation S-T Rule 101(b)(7):

 

 

 


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 22, 2015

 

Mitsubishi UFJ Financial Group, Inc.
By:  

/s/ Akira Takeda

Name:   Akira Takeda
Title:   Chief Manager, General Affairs
  Corporate Administration Division


Interim Consolidated Summary Report

<under US GAAP>

For the Fiscal Year Ending March 31, 2015

 

Date:    January 22, 2015
Company name (code number):    Mitsubishi UFJ Financial Group, Inc. (8306)
   (URL http://www.mufg.jp/)
Stock exchange listings:    Tokyo, Nagoya, New York
Representative:    Nobuyuki Hirano, President & CEO
For inquiry:    Hiroshi Fukunaga, General Manager-Financial Planning Division, Financial Accounting Office
   (Phone) +81-3-3240-3110

Consolidated financial data for the six months ended September 30, 2014

(1) Operating results

 

   (in millions of yen, except per share data)

 

    

For the six months ended September 30,

    

    2014    

  

    2013    

Total revenue

   2,865,991    1,929,399

Income before income tax expense

   1,273,959    530,411

Net income attributable to Mitsubishi UFJ Financial Group

   838,296    383,314

Basic earnings per common share—Earnings applicable to common shareholders of Mitsubishi UFJ Financial Group (in yen)

   58.55    26.21

Diluted earnings per common share—Earnings applicable to common shareholders of Mitsubishi UFJ Financial Group (in yen)

   58.35    26.10

Comprehensive income attributable to Mitsubishi UFJ Financial Group for the six months ended September 30, 2014 and 2013 were ¥1,287,757 million and ¥820,313 million, respectively.

Notes:

1. Average number of shares outstanding

(in thousands of shares)

    

For the six months ended September 30,

    

2014

  

2013

Common stock

   14,163,257    14,157,332

2. “Basic earnings per common share” and “Diluted earnings per common share” are based on “Earnings applicable to common shareholders of Mitsubishi UFJ Financial Group.”

(2) Financial condition

(in millions of yen)

    

As of September 30,
2014

  

As of March 31,
2014

Total assets

   260,014,355    253,661,077

Total Mitsubishi UFJ Financial Group shareholders’ equity

   12,967,812    12,205,040

(3) Cash flows

(in millions of yen)

    

For the six months ended September 30,

    

2014

  

2013

Net cash provided by operating activities

      869,579      1,821,992

Net cash used in investing activities

   (2,054,938)    (6,124,115)

Net cash provided by financing activities

   915,968    4,113,395

Cash and cash equivalents at end of period

   3,412,708    3,483,533

 

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This report is an excerpt of certain highlights from our semiannual condensed consolidated financial information under U.S. GAAP that is included in a report on Form 6-K (the “Semiannual U.S. GAAP Report”) to be submitted to the U.S. Securities and Exchange Commission. This excerpt report does not contain all of the information that may be important to you. In addition to the items highlighted in this report, the Semiannual U.S. GAAP Report includes material disclosure about Mitsubishi UFJ Financial Group, Inc., including its business and other detailed U.S. GAAP financial information. You should read the entire Semiannual U.S. GAAP Report carefully to obtain a comprehensive understanding of the company’s business and U.S. GAAP financial data and related issues.

This report contains forward-looking statements regarding estimates, forecasts, targets and plans in relation to the results of operations, financial condition and other general 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 expectations, perceptions, evaluations and opinions. In addition, in order for the company to adopt such estimates, forecasts, targets and plans regarding future events, certain assumptions have been made, which assumptions are inherently subjective and uncertain. The forward-looking statements should not be viewed as guarantees of future performance as actual results may be significantly different. For instance, the disclosures regarding provision for credit losses, valuation of financial assets and realizability of the deferred tax assets are based on assumptions and other estimates, such as economic factors, our business plans and performance, and other factors. There exist a number of factors that may lead to uncertainties and risks, including, but not limited to, the deterioration of the Japanese and global economies, fluctuations in interest rates, foreign currency exchange rates and stock prices, legal proceedings and changes in the regulatory environment. For the key factors that should be considered, please see the financial highlight, the Annual Securities Report, Disclosure Book, Annual Report, Form 20-F, reports on Form 6-K and other current disclosures that the company has publicly released.

 

 

 

-2-


(US GAAP)

Mitsubishi UFJ Financial Group, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets (Unaudited)

 

(in millions of yen)

   As of
September 30,
2014
    As of
March 31,
2014
 

Assets:

    

Cash and due from banks

     3,412,708        3,689,228   

Interest-earning deposits in other banks

     28,534,929        20,500,676   

Call loans, funds sold, and receivables under resale agreements

     6,918,062        8,219,169   

Receivables under securities borrowing transactions

     4,335,157        4,210,057   

Trading account assets

     39,141,337        40,646,275   

Investment securities:

    

Available-for-sale securities—carried at fair value

     51,169,368        51,885,652   

Held-to-maturity securities—carried at amortized cost

     3,456,827        2,706,982   

Other investment securities

     747,649        737,617   
  

 

 

   

 

 

 

Total investment securities

     55,373,844        55,330,251   
  

 

 

   

 

 

 

Loans, net of unearned income, unamortized premiums and deferred loan fees

     111,194,207        110,276,411   

Allowance for credit losses

     (940,888     (1,094,420
  

 

 

   

 

 

 

Net loans

     110,253,319        109,181,991   
  

 

 

   

 

 

 

Premises and equipment—net

     1,204,349        1,236,648   

Accrued interest

     285,226        277,222   

Customers’ acceptance liability

     220,035        126,838   

Intangible assets—net

     1,122,826        1,133,354   

Goodwill

     709,260        728,515   

Deferred tax assets

     73,126        362,267   

Other assets

     8,430,177        8,018,586   
  

 

 

   

 

 

 

Total assets

     260,014,355        253,661,077   
  

 

 

   

 

 

 

Liabilities:

    

Deposits:

    

Domestic offices:

    

Non-interest-bearing

     16,527,631        16,644,469   

Interest-bearing

     105,624,258        104,860,603   

Overseas offices, principally interest-bearing

     41,490,758        41,012,714   
  

 

 

   

 

 

 

Total deposits

     163,642,647        162,517,786   
  

 

 

   

 

 

 

Call money, funds purchased, and payables under repurchase agreements

     22,102,591        24,685,527   

Payables under securities lending transactions

     7,053,971        5,520,718   

Due to trust account and other short-term borrowings

     11,864,008        11,856,281   

Trading account liabilities

     14,191,216        11,981,978   

Obligations to return securities received as collateral

     3,505,355        3,971,454   

Bank acceptances outstanding

     220,035        126,838   

Accrued interest

     128,270        143,362   

Long-term debt

     17,945,900        14,498,678   

Other liabilities

     5,849,851        5,607,011   
  

 

 

   

 

 

 

Total liabilities

     246,503,844        240,909,633   
  

 

 

   

 

 

 

Equity:

    

Mitsubishi UFJ Financial Group shareholders’ equity:

    

Capital stock

     2,090,206        2,089,245   

Capital surplus

     5,973,866        6,363,413   

Retained earnings:

    

Appropriated for legal reserve

     239,571        239,571   

Unappropriated retained earnings

     2,859,520        2,157,639   

Accumulated other comprehensive income, net of taxes

     1,807,143        1,357,682   

Treasury stock, at cost

     (2,494     (2,510
  

 

 

   

 

 

 

Total Mitsubishi UFJ Financial Group shareholders’ equity

     12,967,812        12,205,040   

Noncontrolling interests

     542,699        546,404   
  

 

 

   

 

 

 

Total equity

     13,510,511        12,751,444   
  

 

 

   

 

 

 

Total liabilities and equity

     260,014,355        253,661,077   
  

 

 

   

 

 

 

 

-3-


(US GAAP)

Mitsubishi UFJ Financial Group, Inc. and Subsidiaries

Condensed Consolidated Statements of Income (Unaudited)

 

     For the six months ended
September 30,
 

(in millions of yen)

   2014     2013  

Interest income:

    

Loans, including fees

     973,824        817,510   

Deposits in other banks

     29,934        20,386   

Investment securities

     188,482        179,037   

Trading account assets

     206,135        187,493   

Call loans, funds sold, and receivables under resale agreements and securities borrowing transactions

     34,834        31,511   
  

 

 

   

 

 

 

Total

     1,433,209        1,235,937   
  

 

 

   

 

 

 

Interest expense:

    

Deposits

     151,105        107,618   

Call money, funds purchased, and payables under repurchase agreements and securities lending transactions

     27,284        21,946   

Due to trust account, other short-term borrowings, and trading account liabilities

     31,569        27,787   

Long-term debt

     121,866        112,164   
  

 

 

   

 

 

 

Total

     331,824        269,515   
  

 

 

   

 

 

 

Net interest income

     1,101,385        966,422   

Credit for credit losses

     68,138        60,229   
  

 

 

   

 

 

 

Net interest income after credit for credit losses

     1,169,523        1,026,651   
  

 

 

   

 

 

 

Non-interest income:

    

Fees and commissions income

     672,050        639,422   

Foreign exchange losses—net

     (42,982     (35,659

Trading account profits (losses)—net

     562,518        (192,113

Investment securities gains—net

     63,232        129,961   

Equity in earnings of equity method investees—net

     121,538        87,151   

Other non-interest income

     56,426        64,700   
  

 

 

   

 

 

 

Total

     1,432,782        693,462   
  

 

 

   

 

 

 

Non-interest expense:

    

Salaries and employee benefits

     534,889        496,784   

Occupancy expenses—net

     82,643        78,619   

Fees and commission expenses

     118,546        111,437   

Outsourcing expenses, including data processing

     121,568        105,052   

Depreciation of premises and equipment

     54,525        49,358   

Amortization of intangible assets

     107,308        99,550   

Impairment of intangible assets

     108        133   

Insurance premiums, including deposit insurance

     57,200        50,445   

Communications

     26,721        24,924   

Taxes and public charges

     47,560        34,523   

Other non-interest expenses

     177,278        138,877   
  

 

 

   

 

 

 

Total

     1,328,346        1,189,702   
  

 

 

   

 

 

 

Income before income tax expense

     1,273,959        530,411   

Income tax expense

     409,999        99,411   
  

 

 

   

 

 

 

Net income before attribution of noncontrolling interests

     863,960        431,000   

Net income attributable to noncontrolling interests

     25,664        47,686   
  

 

 

   

 

 

 

Net income attributable to Mitsubishi UFJ Financial Group

     838,296        383,314   
  

 

 

   

 

 

 

Income allocated to preferred shareholders:

    

Cash dividends paid

     8,970        8,970   

Changes in a foreign affiliated company’s interests in its subsidiary

     —          3,301   
  

 

 

   

 

 

 

Earnings applicable to common shareholders of Mitsubishi UFJ Financial Group

     829,326        371,043   
  

 

 

   

 

 

 
(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

     58.55        26.21   

Diluted earnings per common share—Earnings applicable to common shareholders of Mitsubishi UFJ Financial Group

     58.35        26.10   

 

-4-


(US GAAP)

Mitsubishi UFJ Financial Group, Inc. and Subsidiaries

Condensed Consolidated Statements of Comprehensive Income (Unaudited)

 

     For the six months ended
September 30,
 

(in millions of yen)

   2014      2013  

Net income before attribution of noncontrolling interests

     863,960         431,000   

Other comprehensive income (loss), net of tax:

     

Net unrealized gains on investment securities

     442,705         133,548   

Net unrealized gains (losses) on derivatives qualifying for cash flow hedges

     1,538         (12

Defined benefit plans

     15,146         17,677   

Foreign currency translation adjustments

     2,942         284,255   
  

 

 

    

 

 

 

Total

     462,331         435,468   
  

 

 

    

 

 

 

Comprehensive income

     1,326,291         866,468   
  

 

 

    

 

 

 

Net income attributable to noncontrolling interests

     25,664         47,686   

Other comprehensive income (loss) attributable to noncontrolling interests

     12,870         (1,531
  

 

 

    

 

 

 

Comprehensive income attributable to Mitsubishi UFJ Financial Group

     1,287,757         820,313   
  

 

 

    

 

 

 
Loans (Unaudited)      

(in millions of yen)

   As of
September 30,
2014
     As of
March 31,
2014
 

Impaired loans

     1,696,920         1,861,027   

Other than impaired loans

     109,497,287         108,415,384   
  

 

 

    

 

 

 

Total

     111,194,207         110,276,411   
  

 

 

    

 

 

 
Allowance for credit losses (Unaudited)      

(in millions of yen)

   As of
September 30,
2014
     As of
March 31,
2014
 

Related to impaired loans

     605,866         750,321   

Related to other than impaired loans

     335,022         344,099   
  

 

 

    

 

 

 

Total

     940,888         1,094,420   
  

 

 

    

 

 

 

 

-5-