UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form6-K
Report of Foreign Private Issuer
Pursuant to Rule13a-16 or15d-16 under
the Securities Exchange Act of 1934
For the month of April 2020
Commission File No.000-54189
MITSUBISHI UFJ FINANCIAL GROUP, INC.
(Translation of registrant’s name into English)
7-1, Marunouchi2-chome, Chiyoda-ku
Tokyo100-8330, Japan
(Address of principal executive office)
Indicate by check mark whether the registrant files or
will file annual reports under cover of Form20-F or Form40-F.
Form20-F X Form40-F
Indicate by check mark if the registrant is submitting the Form6-K
in paper as permitted by RegulationS-T Rule 101(b)(1):
Indicate by check mark if the registrant is submitting the Form6-K
in paper as permitted by RegulationS-T Rule 101(b)(7):
THIS REPORT ON FORM6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE IN THE REGISTRATION STATEMENT ON FORMF-3 (NO.333-229697) OF MITSUBISHI UFJ FINANCIAL GROUP, INC. AND TO BE A PART THEREOF FROM THE DATE ON WHICH THIS REPORT IS FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED WITH OR FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: April 30, 2020
| Mitsubishi UFJ Financial Group, Inc. | ||
| By: | /s/ Zenta Morokawa | |
| Name: | Zenta Morokawa | |
| Title: | Managing Director, Head of Documentation & Corporate Secretary Department, Corporate Administration Division | |
Mitsubishi UFJ Financial Group, Inc. (MUFG)
MUFG Revises Earnings Target
for the Fiscal Year Ended March 31, 2020
Tokyo, April 30, 2020 —MUFG today announced that it has revised its earnings target for profits attributable to owners of parent for the fiscal year ended March 31, 2020, announced on February 4, 2020[1], as follows.Year-end dividend forecasts for the fiscal year ended March 31, 2020 (fiscalyear-end 12.5 yen per share, total 25.0 yen per share) are unchanged.
| 1. | Earnings target for the fiscal year ended March 31, 2020 under Japanese GAAP |
| Profits attributable to owners of parent | ||||
Previous earnings target (A) | ¥ | 750.0bn | ||
Revised earnings target (B) | ¥ | 520.0bn | ||
Change(B-A) | ¥ | -230.0bn | ||
Change (%) | -30.7 | % | ||
[Reference] Result for the fiscal year ended March 31, 2019 | ¥ | 872.6bn | ||
| 2. | Reason for the revision |
As announced on March 31, 2020, in the consolidated financial statements for the fiscal year ended March 31, 2020, aone-time amortization of goodwill (130.5 billion yen) is planned associated with an impairment loss on shares of Bank of Ayudhya Public Company Limited , a consolidated subsidiary[2].
At the same time, the volatile market movements in the fourth quarter are expected to have an impact on profits attributable to owners of parent company of approximately 65.0 billion yen due to impairment of shareholdings and aone-time amortization of goodwill associated with the impairment loss on shares of equity-method affiliates.
In addition, the recording of provisions for some credit in light of the impact of theCOVID-19 pandemic is expected to have an impact of approximately 35.0 billion yen on profits attributable to owners of parent.
As a result, we have revised our earnings target downward by 230.0 billion yen to 520.0 billion yen.
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| [1] | MUFG Revises Earnings Target for the Fiscal Year Ended March 31, 2020 |
https://www.mufg.jp/dam/pressrelease/2020/pdf/news-20200204-001_en.pdf
| [2] | Recording of Extraordinary Losses Associated withOne-Time Amortization of Goodwill Posted on Financial Statements of Fiscal Year Ended March 2020 (underJ-GAAP) |
https://www.mufg.jp/dam/pressrelease/2020/pdf/news-20200331-001_en.pdf
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About MUFG
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with over 2,700 locations in more than 50 countries. The Group has over 180,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges. For more information, visithttps://www.mufg.jp/english.
Press contact:
Naokazu Matsuda
Public Relations Division
Tokyo/Head Office
Mitsubishi UFJ Financial Group, Inc.
T+81-3-5218-1815
Enaokazu_matsuda@mufg.jp
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This notice contains forward-looking statements regarding estimates, forecasts, etc. in relation to the results of operations, financial conditions and other general management of MUFG and/or the group as a whole (the “forward-looking statements”). The forward-looking statements are made based upon, among other things, MUFG’s current estimates, perceptions and evaluations. In addition, in order for MUFG to adopt such estimates, forecasts, etc. regarding future events, certain assumptions have been made. Accordingly, the statements and assumptions are inherently not guarantees of future performance and may result in inaccuracy from an objective point of view and in material differences from actual results. There exist a number of factors that might lead to uncertainties and risks. For the main matters that may be currently forecast, please see the most recent Financial Highlights, the Annual Securities Report, Disclosure Book, Annual Report, and other disclosures that MUFG has announced.
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