Mitsubishi UFJ Financial (MUFG) 6-K Current report (foreign)

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 May 2021

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):

THIS REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE IN THE REGISTRATION STATEMENT ON FORM F-3 (NO. 333-242048) 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FROM THE DATE ON WHICH THIS REPORT IS FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED WITH OR FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION.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: May 17, 2021

Mitsubishi UFJ Financial Group, Inc.
By:	/s/ Ken Aikawa
Name:	Ken Aikawa
Title:	Managing Director, Head of Documentation & Corporate Secretary Department, Corporate Administration Division

Consolidated Summary Report

<under Japanese GAAP>

for the fiscal year ended March 31, 2021

May 17, 2021

Company name:	Mitsubishi UFJ Financial Group, Inc.
Stock exchange listings:	Tokyo, Nagoya, New York
Code number:	8306
URL	https://www.mufg.jp/
Representative:	Hironori Kamezawa, President & Group CEO
For inquiry:	Masahisa Takahashi, Managing Director, Head of Financial Accounting Office, Financial Planning Division
	TEL (03) 5218-8890
General meeting of shareholders:	June 29, 2021
Dividend payment date:	June 30, 2021
Securities report issuing date:	June 29, 2021
Trading accounts:	Established
Supplemental information for financial statements:	Available
Investor meeting presentation:	Scheduled (for investors and analysts)

(Amounts of less than one million yen are rounded down.)

1. Consolidated Financial Data for the Fiscal Year ended March 31, 2021

(1) Results of Operations

	( % represents the change from the previous fiscal year)
	Ordinary Income					Ordinary Profits					Profits Attributable to Owners of Parent
	million yen		%			million yen		%			million yen		%
Fiscal year ended
March 31, 2021		6,025,336		(17.5	)		1,053,610		(14.7	)		777,018		47.1
March 31, 2020		7,299,078		9.0			1,235,770		(8.3	)		528,151		(39.5	)

(*) Comprehensive income

                March 31, 2021: 1,324,655 million yen     388.0 %                 ;         March 31, 2020: 271,456 million yen     (60.5) %

	Basic earnings per share		Diluted earnings per share		Net Income to Net Assets Attributable to MUFG shareholders		Ordinary Profits to Total Assets		Ordinary Profits to Ordinary Income
	yen		yen		%		%		%
Fiscal year ended
March 31, 2021		60.50		60.25		4.7		0.3		17.5
March 31, 2020		40.95		40.71		3.3		0.4		16.9

(Reference) Income from investment in affiliates (Equity method)

                March 31, 2021: 321,761 million yen                                       ;       March 31, 2020: 277,221 million yen

(2) Financial Conditions

	Total Assets		Total Net Assets			Equity-to-asset ratio (*)			Total Net Assets per Common Stock
	million yen		million yen			%			yen
As of
March 31, 2021		359,473,515		17,716,257			4.7			1,308.12
March 31, 2020		336,571,379		16,855,738			4.8			1,245.33
(Reference) Shareholders’ equity as of     March 31, 2021: 16,802,572 million yen ;     March 31, 2020: 15,990,834 million yen (*)   “Equity-to-asset ratio” is computed under the formula shown below               (Total net assets - Subscription rights to shares - Non-controlling interests) / Total assets (3)   Cash Flows
	Cash Flows from Operating Activities		Cash Flows from Investing Activities			Cash Flows from Financing Activities			Cash and Cash Equivalents at the end of the period
	million yen		million yen			million yen			million yen
Fiscal year ended
March 31, 2021		34,904,946		(10,140,343	)		(436,071	)		102,980,711
March 31, 2020		8,060,840		(3,368,444	)		(251,664	)		78,335,634

2. Dividends on Common Stock

	Dividends per Share										Total dividends		Dividend payout ratio (Consolidated)		Dividend on net assets ratio (Consolidated)
	1st quarter-end		2nd quarter-end		3rd quarter-end		Fiscal year-end		Total
	yen		yen		yen		yen		yen		million yen		%		%
Fiscal year
ended March 31, 2020		—		12.50		—		12.50		25.00		322,909		61.0		2.0
ended March 31, 2021		—		12.50		—		12.50		25.00		321,836		41.3		2.0
ending March 31, 2022 (Forecast)		—		13.50		—		13.50		27.00				40.8

(*) Revision of forecasts for dividends on the presentation date of this Consolidated Summary Report : None

3. Earnings Target for the Fiscal Year ending March 31, 2022 (Consolidated)

MUFG has set an earnings target of 850.0 billion yen of profits attributable to owners of parent for the fiscal year ending March 31, 2022. MUFG is engaged in financial service businesses such as banking business, trust banking business, securities business and credit card/loan businesses. Because there are various uncertainties caused by economic situation, market environments and other factors in these businesses, MUFG discloses a target of its profits attributable to owners of parent instead of a forecast of its performance.

øNotes

(1) Changes in significant subsidiaries during the period (Changes in specified subsidiaries accompanying change in scope of consolidation): No

(2) Changes in accounting policies, changes in accounting estimates and restatements

(A) Changes in accounting policies due to revision of accounting standards: No

(B) Changes in accounting policies due to reasons other than (A): No

(C) Changes in accounting estimates: No

(D) Restatements: No

(3) Number of common stocks outstanding at the end of the period

(A) Total stocks outstanding including treasury stocks:	March 31, 2021	13,581,995,120 shares
	March 31, 2020	13,581,995,120 shares
(B) Treasury stocks:	March 31, 2021	737,192,810 shares
	March 31, 2020	741,363,277 shares
(C) Average outstanding stocks:	Fiscal year ended March 31, 2021	12,843,564,013 shares
	Fiscal year ended March 31, 2020	12,897,317,425 shares

*This “Consolidated Summary Report” (“Tanshin”) is outside the scope of the external auditor’s audit procedure.

*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 affect 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. We will publish U.S. GAAP financial results in a separate disclosure document when such information becomes available.

Mitsubishi UFJ Financial Group, Inc.

(Appendix)

Contents of Appendix

1. Results of Operations and Financial Condition	2
(1) Analysis of results of operations	2
(2) Analysis of financial condition	4
2. Basic Views on Selection of Accounting Standards	4
3. Consolidated Financial Statements and Notes	5
(1) Consolidated Balance Sheets	5
(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income	7
(3) Consolidated Statements of Changes in Net Assets	10
(4) Consolidated Statements of Cash Flows	12
Notes to the Consolidated Financial Statements	14
Notes on Going-Concern Assumption
Changes in Accounting Policies
Additional Information
Segment Information
Per Share Information

Supplemental Information:

“Selected Financial Information under Japanese GAAP For the Fiscal Year Ended March 31, 2021”

(*) The following is the schedule of internet conference and explanation for investors and analysts. You can confirm those contents over the internet.

Internet Conference:	May 17, 2021 (Monday)
Explanation for investors and analysts:	May 19, 2021 (Wednesday)

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Mitsubishi UFJ Financial Group, Inc.

1. Results of Operations and Financial Condition

(1)   Analysis of results of operations

(Results of operations for the fiscal year ended March 31, 2021)

Consolidated gross profits for the fiscal year ended March 31, 2021 increased 11.6 billion yen from the previous fiscal year to 3,997.9 billion yen, mainly due to the establishment of sales activities under the COVID-19 pandemic as well as the consolidation of overseas subsidiaries, despite the impact by the pandemic. General and administrative expenses for the fiscal year ended March 31, 2021 decreased 52.3 billion yen from the previous fiscal year to 2,749.4 billion yen, due to cost reduction in expenses for domestic and overseas. As a result, net operating profits increased 63.9 billion yen from the previous fiscal year to 1,248.4 billion yen.

Total credit costs for the fiscal year ended March 31, 2021 deteriorated 292.5 billion yen from the previous fiscal year, mainly due to the allowance recorded associated with increased credit risk by expansion of COVID-19 as well as the provisions built according to the new accounting standards in major overseas subsidiaries. Net gains on equity securities increased 98.9 billion yen from the previous fiscal year, mainly due to the lack of losses on write-down of equity securities recorded previous year. Other non-recurring losses deteriorated 97.0 billion yen from the previous fiscal year, mostly due to an increase in cost of retirement benefits. As a result, ordinary profits for the fiscal year ended March 31, 2021 decreased 182.1 billion yen from the previous fiscal year to 1,053.6 billion yen. Net extraordinary losses for the fiscal year ended March 31, 2021 improved 394.7 billion yen, mainly due to the lack of one-time amortization of goodwill recorded previous year. As a result, profits attributable to owners of parent for the fiscal year ended March 31, 2021 was 777.0 billion yen, an increase of 248.8 billion yen from the previous fiscal year.

(in billions of Japanese yen)	For the fiscal year ended March 31, 2021			For the fiscal year ended March 31, 2020			Increase (Decrease)
Gross profits before credit costs for trust accounts		3,997.9			3,986.3			11.6
General and administrative expenses		2,749.4			2,801.8			(52.3	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		1,248.4			1,184.4			63.9
Total credit costs		(515.5	)		(222.9	)		(292.5	)
Net gains (losses) on equity securities		130.2			31.3			98.9
Equity in earnings of equity method investees		321.7			277.2			44.5
Other non-recurring gains (losses)		(131.3	)		(34.2	)		(97.0	)
Ordinary profits		1,053.6			1,235.7			(182.1	)
Net extraordinary gains (losses)		(11.5	)		(406.3	)		394.7
Total taxes		185.0			220.8			(35.8	)
Profits attributable to non-controlling interests		79.9			80.3			(0.4	)
Profits attributable to owners of parent		777.0			528.1			248.8

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Mitsubishi UFJ Financial Group, Inc.

(Impact of the COVID-19 pandemic on MUFG business)

At the beginning of this fiscal year, under a certain assumption, we estimated the impact of the COVID-19 pandemic on MUFG business on “net operating profits” and on “credit costs and net gains (losses) equity securities etc” to be (300.0) billion yen each on pre-tax profit.

Actually, the impact on “net operating profits” was approximately (100.0) billion yen due to the establishment of sales activities under the pandemic and additional reductions in operating expenses. On the other hand, the impact on “credit costs and net gains (losses) on equity securities etc” was almost same as we expected in the interim period.

	Estimated impact on pre-tax profit*
	Announced on May 15, 2020	Announced on November 13, 2020	FY2020 Results
Impact on net	Approx.	Approx.	Approx.
operating profits	(300.0) billion yen	(200.0) billion yen	(100.0) billion yen
Impact on credit costs	Approx.	Approx.	Approx.
and net gains (losses)	(300.0) billion yen	(330.0) billion yen	(330.0) billion yen
on equity securities etc.

* The above figures illustrate some of the major items that we expected to affect pre-tax profit as a result of the COVID-19 pandemic. Including the positive effects of response to environmental changes due to the COVID-19.

In the next fiscal year, the economy is expected to continue to recover as economic activity resumes under certain assumptions regarding the spread of the COVID-19 vaccine, restrictions on activity, and economic measures. However, as it is required to prevent the expansion of the pandemic, we expect the recovery pace will be moderate and may be different depends on each region. We set a target of 850.0 billion yen earnings target of profits attributable to the owners of parent for the fiscal year ending March 31, 2022 (Consolidated) based on the above outlook. Any outlook or assumption that we referred to or used to prepare our earnings target may prove inaccurate, and our earnings target may be revised or differ from the actual results to a significant extent depending on the actual timing of containment of the virus and the degree of its impact on the real economy, financial markets, etc., as well as on our business operations and financial condition. We intend to continue to monitor developments relating to the pandemic and, as necessary, revise the earnings target.

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Mitsubishi UFJ Financial Group, Inc.

(2)   Analysis of financial condition

Total assets as of March 31, 2021 increased 22,902.1 billion yen from March 31, 2020 to 359,473.5 billion yen, and total net assets as of March 31, 2021 increased 860.5 billion yen from March 31, 2020 to 17,716.2 billion yen. The increase in total net assets was mainly due to an increase of net unrealized gains on available-for-sale securities.

With regard to major items of assets, loans and bills discounted as of March 31, 2021 decreased 1,931.5 billion yen from March 31, 2020 to 107.183.0 billion yen and securities as of March 31, 2021 increased 11,566.9 billion yen from March 31, 2020 to 77,122.0 billion yen. With regard to major items of liabilities, deposits as of March 31, 2021 increased 23,897.7 billion yen from March 31, 2019 to 211,521.2 billion yen.

2.   Basic Views on Selection of Accounting Standards

MUFG group, currently adopting Japanese GAAP, is preparing for its future adoption of IFRS by considering the development of its infrastructures and organizations within the group, and the timing of adoption.

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Mitsubishi UFJ Financial Group, Inc.

3. Consolidated Financial Statements and Notes

(1) Consolidated Balance Sheets

(in millions of yen)	As of     March 31, 2020			As of     March 31, 2021
Assets:
Cash and due from banks		78,335,634			102,980,711
Call loans and bills bought		727,598			730,506
Receivables under resale agreements		24,104,564			13,942,910
Receivables under securities borrowing transactions		3,464,533			3,394,376
Monetary claims bought		6,583,403			5,982,876
Trading assets		20,250,172			20,552,367
Money held in trust		1,046,323			1,283,179
Securities		65,555,127			77,122,074
Loans and bills discounted		109,114,612			107,183,069
Foreign exchanges		1,741,290			1,915,010
Other assets		13,900,403			12,406,158
Tangible fixed assets		1,319,789			1,296,402
Buildings		341,984			321,965
Land		680,425			664,065
Lease assets		19,811			14,823
Construction in progress		34,733			45,881
Other tangible fixed assets		242,834			249,667
Intangible fixed assets		1,498,407			1,436,098
Software		552,291			571,905
Goodwill		283,672			273,092
Lease assets		22			1
Other intangible fixed assets		662,421			591,097
Net defined benefit assets		712,206			1,210,577
Deferred tax assets		127,516			137,988
Customers’ liabilities for acceptances and guarantees		8,830,436			9,004,749
Allowance for credit losses		(740,641	)		(1,105,541	)
Total assets		336,571,379			359,473,515

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Mitsubishi UFJ Financial Group, Inc.

(in millions of yen)	As of     March 31, 2020			As of     March 31, 2021
Liabilities:
Deposits		187,623,551			211,521,257
Negotiable certificates of deposit		7,787,524			8,099,119
Call money and bills sold		3,671,100			2,330,808
Payables under repurchase agreements		31,692,711			24,483,519
Payables under securities lending transactions		1,058,042			836,351
Commercial papers		2,162,329			1,810,350
Trading liabilities		14,067,826			14,002,667
Borrowed money		24,651,574			31,110,465
Foreign exchanges		2,223,010			2,105,245
Short-term bonds payable		962,295			1,043,001
Bonds payable		13,464,472			12,908,505
Due to trust accounts		9,798,688			11,208,570
Other liabilities		10,407,459			9,754,731
Reserve for bonuses		110,964			118,358
Reserve for bonuses to directors		1,446			1,816
Reserve for stocks payment		11,298			10,915
Net defined benefit liabilities		86,547			88,914
Reserve for retirement benefits to directors		1,058			872
Reserve for loyalty award credits		31,247			18,312
Reserve for contingent losses		206,029			183,855
Reserves under special laws		4,269			4,642
Deferred tax liabilities		754,111			1,008,650
Deferred tax liabilities for land revaluation		107,641			101,577
Acceptances and guarantees		8,830,436			9,004,749
Total liabilities		319,715,640			341,757,258
Net assets:
Capital stock		2,141,513			2,141,513
Capital surplus		980,102			977,287
Retained earnings		10,855,798			11,200,087
Treasury stock		(505,518	)		(502,794	)
Total shareholders’ equity		13,471,894			13,816,094
Net unrealized gains (losses) on available-for-sale securities		2,066,363			2,583,417
Net deferred gains (losses) on hedging instruments		189,342			131,566
Land revaluation excess		158,633			149,183
Foreign currency translation adjustments		300,838			9,953
Remeasurements of defined benefit plans		(159,766	)		163,189
Debt value adjustments of foreign subsidiaries and affiliates		(36,470	)		(50,832	)
Total accumulated other comprehensive income		2,518,940			2,986,478
Subscription rights to shares		59			—
Non-controlling interests		864,844			913,684
Total net assets		16,855,738			17,716,257
Total liabilities and net assets		336,571,379			359,473,515

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Mitsubishi UFJ Financial Group, Inc.

(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income

Consolidated Statements of Income

(in millions of yen)	For the fiscal year ended     March 31, 2020		For the fiscal year ended     March 31, 2021
Ordinary income		7,299,078		6,025,336
Interest income		3,841,301		2,678,691
Interest on loans and bills discounted		2,363,562		1,799,506
Interest and dividends on securities		692,854		469,693
Interest on call loans and bills bought		11,125		5,179
Interest on receivables under resale agreements		222,843		70,331
Interest on receivables under securities borrowing transactions		26,707		9,346
Interest on deposits		160,027		55,445
Other interest income		364,181		269,188
Trust fees		130,829		140,449
Fees and commissions		1,577,596		1,565,535
Trading income		203,724		350,065
Other operating income		912,686		653,934
Other ordinary income		632,939		636,661
Gains on loans written-off		95,275		67,224
Others		537,664		569,437
Ordinary expenses		6,063,308		4,971,726
Interest expenses		1,948,484		773,719
Interest on deposits		689,461		281,715
Interest on negotiable certificates of deposit		151,788		43,808
Interest on call money and bills sold		3,471		844
Interest on payables under repurchase agreements		341,923		75,314
Interest on payables under securities lending transactions		2,543		3,193
Interest on commercial papers		58,751		10,276
Interest on borrowed money		69,051		32,227
Interest on short-term bonds payable		8		100
Interest on bonds payable		298,960		265,274
Other interest expenses		332,523		60,964
Fees and commissions		236,329		230,822
Trading expenses		42,267		—
Other operating expenses		452,903		386,361
General and administrative expenses		2,793,921		2,786,505
Other ordinary expenses		589,401		794,317
Provision for allowance for credit losses		130,101		377,159
Others		459,299		417,157
Ordinary profits		1,235,770		1,053,610

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Mitsubishi UFJ Financial Group, Inc.

(in millions of yen)	For the fiscal year ended     March 31, 2020		For the fiscal year ended     March 31, 2021
Extraordinary gains		49,896		77,412
Gains on disposition of fixed assets		16,328		31,387
Gains on change in equity		—		38,680
Gains on sales of shares of affiliates		—		7,344
Gains on sales of shares of subsidiaries		31,462		—
Gains on step acquisitions		2,105		—
Extraordinary losses		456,223		88,987
Losses on disposition of fixed assets		14,658		14,759
Losses on impairment of fixed assets		65,786		41,240
Provision for reserve for contingent liabilities from financial instruments transactions		5		372
Losses on change in equity		21,311		16,580
Losses on sales of shares of affiliates		7,546		16,033
Losses on sales of shares of subsidiaries		3,546		—
Amortization of goodwill		343,368		—
Profits before income taxes		829,443		1,042,036
Income taxes-current		189,231		229,762
Income taxes-deferred		31,668		(44,694	)
Total taxes		220,899		185,068
Profits		608,543		856,967
Profits attributable to non-controlling interests		80,392		79,949
Profits attributable to owners of parent		528,151		777,018

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Mitsubishi UFJ Financial Group, Inc.

Consolidated Statements of Comprehensive Income

(in millions of yen)	For the fiscal year ended     March 31, 2020			For the fiscal year ended     March 31, 2021
Profits		608,543			856,967
Other comprehensive income
Net unrealized gains (losses) on available-for-sale securities		(221,966	)		486,026
Net deferred gains (losses) on hedging instruments		71,314			(56,879	)
Land revaluation excess		36			—
Foreign currency translation adjustments		(2,681	)		(148,051	)
Remeasurements of defined benefit plans		(154,532	)		319,058
Share of other comprehensive income of associates accounted for using equity method		(29,257	)		(132,465	)
Total other comprehensive income		(337,087	)		467,688
Comprehensive income		271,456			1,324,655
(Comprehensive income attributable to)
Comprehensive income attributable to owners of parent		177,138			1,254,959
Comprehensive income attributable to non-controlling interests		94,317			69,696

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Mitsubishi UFJ Financial Group, Inc.

(3) Consolidated Statements of Changes in Net Assets

For the fiscal year ended March 31, 2020

	(in millions of yen)
	Shareholders’ equity														Accumulated other comprehensive income
	Capital stock		Capital surplus			Retained earnings			Treasury stock			Total shareholders’ equity			Net unrealized gains (losses)  on available- for-sale securities			Net deferred gains (losses) on hedging instruments
Balance at the beginning of the period		2,141,513		1,034,641			10,640,655			(516,649	)		13,300,160			2,249,231			122,516
Cumulative effects of changes in accounting policies							(17,550	)					(17,550	)
Restated balance		2,141,513		1,034,641			10,623,105			(516,649	)		13,282,610			2,249,231			122,516
Changes during the period
Cash dividends							(304,543	)					(304,543	)
Profits attributable to owners of parent							528,151						528,151
Repurchase of treasury stock										(50,022	)		(50,022	)
Disposal of treasury stock				(752	)					2,527			1,774
Retirement of treasury stock				(58,625	)					58,625			—
Reversal of land revaluation excess							9,084						9,084
Changes in subsidiaries’equity				4,839									4,839
Net changes of items other than shareholders’ equity																(182,867	)		66,825
Total changes during the period		—		(54,538	)		232,692			11,130			189,284			(182,867	)		66,825
Balance at the end of the period		2,141,513		980,102			10,855,798			(505,518	)		13,471,894			2,066,363			189,342

	(in millions of yen)
	Accumulated other comprehensive income
	Land revaluation excess			Foreign currency translation adjustments			Remeasurements of defined benefit plans			Debt value adjustments of foreign subsidiaries and affiliates			Total accumulated other comprehensive income			Subscription rights to shares			Non- controlling interests			Total net assets
Balance at the beginning of the period		167,681			339,713			(4,729	)		4,702			2,879,115			217			1,082,184			17,261,677
Cumulative effects of changes in accounting policies																							(17,550	)
Restated balance		167,681			339,713			(4,729	)		4,702			2,879,115			217			1,082,184			17,244,127
Changes during the period
Cash dividends																							(304,543	)
Profits attributable to owners of parent																							528,151
Repurchase of treasury stock																							(50,022	)
Disposal of treasury stock																							1,774
Retirement of treasury stock																							—
Reversal of land revaluation excess																							9,084
Changes in subsidiaries’equity																							4,839
Net changes of items other than shareholders’ equity		(9,048	)		(38,874	)		(155,036	)		(41,173	)		(360,175	)		(157	)		(217,340	)		(577,673	)
Total changes during the period		(9,048	)		(38,874	)		(155,036	)		(41,173	)		(360,175	)		(157	)		(217,340	)		(388,388	)
Balance at the end of the period		158,633			300,838			(159,766	)		(36,470	)		2,518,940			59			864,844			16,855,738

10

Mitsubishi UFJ Financial Group, Inc.

For the fiscal year ended March 31, 2021

	(in millions of yen)
	Shareholders’ equity														Accumulated other comprehensive income
	Capital stock		Capital surplus			Retained earnings			Treasury stock			Total shareholders’ equity			Net unrealized gains (losses) on available- for-sale securities		Net deferred gains (losses)  on hedging instruments
Balance at the beginning of the period		2,141,513		980,102			10,855,798			(505,518	)		13,471,894			2,066,363		189,342
Cumulative effects due to revision of accounting standards for foreign subsidiaries and affiliates							(120,236	)					(120,236	)
Restated balance		2,141,513		980,102			10,735,561			(505,518	)		13,351,657			2,066,363		189,342
Changes during the period
Cash dividends							(321,837	)					(321,837	)
Profits attributable to owners of parent							777,018						777,018
Repurchase of treasury stock										(13	)		(13	)
Disposal of treasury stock				(7	)					2,737			2,730
Reversal of land revaluation excess							9,449						9,449
Changes of application of equity method							(104	)					(104	)
Changes in subsidiaries’ equity				(2,807	)								(2,807	)
Net changes of items other than shareholders’ equity																517,054		(57,775	)
Total changes during the period		—		(2,814	)		464,526			2,724			464,436			517,054		(57,775	)
Balance at the end of the period		2,141,513		977,287			11,200,087			(502,794	)		13,816,094			2,583,417		131,566

	(in millions of yen)
	Accumulated other comprehensive income
	Land revaluation excess			Foreign currency translation adjustments			Remeasurements of defined benefit plans			Debt value adjustments of foreign subsidiaries and affiliates			Total accumulated other comprehensive income		Subscription rights to shares			Non- controlling interests			Total net assets
Balance at the beginning of the period		158,633			300,838			(159,766	)		(36,470	)		2,518,940		59			864,844			16,855,738
Cumulative effects due to revision of accounting standards for foreign subsidiaries and affiliates																			(24,806	)		(145,043	)
Restated balance		158,633			300,838			(159,766	)		(36,470	)		2,518,940		59			840,037			16,710,695
Changes during the period
Cash dividends																						(321,837	)
Profits attributable to owners of parent																						777,018
Repurchase of treasury stock																						(13	)
Disposal of treasury stock																						2,730
Reversal of land revaluation excess																						9,449
Changes of application of equity method																						(104	)
Changes in subsidiaries’ equity																						(2,807	)
Net changes of items other than shareholders’ equity		(9,449	)		(290,885	)		322,955			(14,361	)		467,538		(59	)		73,646			541,125
Total changes during the period		(9,449	)		(290,885	)		322,955			(14,361	)		467,538		(59	)		73,646			1,005,561
Balance at the end of the period		149,183			9,953			163,189			(50,832	)		2,986,478		—			913,684			17,716,257

11

Mitsubishi UFJ Financial Group, Inc.

(4) Consolidated Statements of Cash Flows

(in millions of yen)	For the fiscal year     ended March 31, 2020			For the fiscal year     ended March 31, 2021
Cash flows from operating activities:
Profits before income taxes		829,443			1,042,036
Depreciation and amortization		330,371			338,617
Impairment losses		65,786			41,240
Amortization of goodwill		372,920			16,833
Equity in losses (gains) of equity method investees		(277,221	)		(321,761	)
Increase (decrease) in allowance for credit losses		20,148			216,270
Increase (decrease) in reserve for bonuses		8,086			8,477
Increase (decrease) in reserve for bonuses to directors		5			410
Increase (decrease) in reserve for stocks payment		484			(383	)
Decrease (increase) in net defined benefit assets		49,212			(387,415	)
Increase (decrease) in net defined benefit liabilities		4,109			2,247
Increase (decrease) in reserve for retirement benefits to directors		(0	)		(185	)
Increase (decrease) in reserve for loyalty award credits		12,519			(12,357	)
Increase (decrease) in reserve for contingent losses		(59,390	)		(26,234	)
Interest income recognized on statement of income		(3,841,301	)		(2,678,691	)
Interest expenses recognized on statement of income		1,948,484			773,719
Losses (gains) on securities		(544,698	)		(240,645	)
Losses (gains) on money held in trust		(8,476	)		56,796
Foreign exchange losses (gains)		847,932			(1,270,550	)
Losses (gains) on sales of fixed assets		(1,669	)		(16,630	)
Net decrease (increase) in trading assets		(4,120,479	)		(531,184	)
Net increase (decrease) in trading liabilities		2,384,310			52,686
Adjustment of unsettled trading accounts		(240,582	)		555,568
Net decrease (increase) in loans and bills discounted		(227,530	)		1,092,978
Net increase (decrease) in deposits		6,503,304			24,839,332
Net increase (decrease) in negotiable certificates of deposit		(1,623,847	)		327,904
Net increase (decrease) in borrowed money (excluding subordinated borrowings)		8,353,562			6,621,372
Net decrease (increase) in call loans and bills bought and others		(12,772,206	)		10,364,263
Net decrease (increase) in receivables under securities borrowing transactions		(719,976	)		15,787
Net increase (decrease) in call money and bills sold and others		7,697,173			(8,133,589	)
Net increase (decrease) in commercial papers		(158,147	)		(347,748	)
Net increase (decrease) in payables under securities lending transactions		151,607			(214,910	)
Net decrease (increase) in foreign exchanges (assets)		477,953			(181,308	)
Net increase (decrease) in foreign exchanges (liabilities)		(48,568	)		(115,966	)
Net increase (decrease) in short-term bonds payable		168,295			80,706
Net increase (decrease) in issuance and redemption of unsubordinated bonds payable		704,633			(287,095	)
Net increase (decrease) in due to trust accounts		(483,538	)		1,409,881
Interest income (cash basis)		3,970,441			2,821,239
Interest expenses (cash basis)		(1,965,180	)		(844,633	)
Others		395,291			(50,656	)
Sub-total		8,203,259			35,016,420
Income taxes		(228,784	)		(236,321	)
Refund of income taxes		86,365			124,847
Net cash provided by (used in) operating activities		8,060,840			34,904,946

12

Mitsubishi UFJ Financial Group, Inc.

(in millions of yen)	For the fiscal year     ended March 31, 2020			For the fiscal year     ended March 31, 2021
Cash flows from investing activities:
Purchases of securities		(90,417,706	)		(116,742,577	)
Proceeds from sales of securities		64,642,308			65,188,712
Proceeds from redemption of securities		23,887,868			42,121,240
Payments for increase in money held in trust		(810,487	)		(1,241,659	)
Proceeds from decrease in money held in trust		701,517			901,330
Purchases of tangible fixed assets		(127,176	)		(133,671	)
Purchases of intangible fixed assets		(318,853	)		(263,119	)
Proceeds from sales of tangible fixed assets		70,574			49,226
Proceeds from sales of intangible fixed assets		1,922			8,223
Payments for acquisition of businesses		(559,561	)		(520	)
Payments for acquisition of subsidiaries’ equity affecting the scope of consolidation		(494,920	)		(23,239	)
Proceeds from sales of subsidiaries’ equity affecting the scope of consolidation		58,701			—
Others		(2,631	)		(4,289	)
Net cash provided by (used in) investing activities		(3,368,444	)		(10,140,343	)
Cash flows from financing activities:
Proceeds from subordinated borrowings		31,720			20,000
Repayments of subordinated borrowings		(67,945	)		(21,000	)
Proceeds from issuance of subordinated bonds payable and bonds with warrants		586,670			272,742
Payments for redemption of subordinated bonds payable and bonds with warrants		(90,241	)		(381,454	)
Proceeds from issuance of common stock to non-controlling shareholders		3,823			4,856
Repayments to non-controlling shareholders		—			(23	)
Payments for redemption of preferred securities		(330,000	)		—
Dividends paid by MUFG		(304,535	)		(321,772	)
Dividends paid by subsidiaries to non-controlling shareholders		(42,331	)		(14,826	)
Purchases of treasury stock		(50,022	)		(13	)
Proceeds from sales of treasury stock		2,291			2,143
Payments for purchases of subsidiaries’ equity not affecting the scope of consolidation		(6,494	)		(0	)
Proceeds from sales of subsidiaries’ equity not affecting the scope of consolidation		15,401			3,275
Net cash provided by (used in) financing activities		(251,664	)		(436,071	)
Effect of foreign exchange rate changes on cash and cash equivalents		(311,992	)		316,544
Net increase (decrease) in cash and cash equivalents		4,128,739			24,645,076
Cash and cash equivalents at the beginning of the period		74,206,895			78,335,634
Cash and cash equivalents at the end of the period		78,335,634			102,980,711

13

Mitsubishi UFJ Financial Group, Inc.

Notes to the Consolidated Financial Statements

(Notes on Going-Concern Assumption)

None.

(Changes in Accounting Policies)

  (Additional Information)

(Adoption of U.S. Accounting Standards Update (“ASU”) 2016-13, “Measurement of Credit Losses on Financial Instruments”)

Certain overseas subsidiaries which apply Generally Accepted Accounting Principles in the United States (“U.S. GAAP”) adopted ASU2016-13, “Measurement of Credit Losses on Financial Instruments” from the beginning of the current fiscal year. This update replaces the incurred loss impairment methodology in previous U.S. GAAP with a methodology that reflects expected credit losses, and full lifetime expected credit losses will be recognized upon initial recognition of a financial asset measured on an amortized cost basis by taking into account certain forecasted information such as macroeconomic indicators. In adopting the accounting standard, retained earnings were adjusted for the cumulative effect at the beginning of the current fiscal year.

As a result, at the beginning of the current fiscal year, allowance for credit losses increased by ¥172,363 million, retained earnings decreased by ¥118,374 million, and net assets per share decreased by ¥9.21.

(Additional Information)

(Estimated impact of the COVID-19 pandemic relating to provision for credit losses)

For the fiscal year ended March 31, 2020

MUFG Bank, Ltd. (“the Bank”), a major consolidated subsidiary of MUFG, and some of the Bank’s consolidated subsidiaries, recorded a provision for credit losses of ¥45,347 million by estimating the impact of the COVID-19 pandemic on credit risk, to the extent that such impact was considered not to have been reflected in the borrowers’ financial information, considering the expected impact of the pandemic on the borrowers’ financial performance and on the overall economic environment.

The process for preparing the recorded provision amount involved, among other things, determining the scope of borrowers (in terms of industry, geographical region, etc.) that were expected to be significantly affected, making certain assumptions relating to economic factors based on certain scenarios, and collectively estimating the degree to which the internal credit ratings assigned to borrowers in particular industries or geographic regions would be downgraded.

Since there was no precedent or established market view regarding the extent of the pandemic or the timing of containment of the pandemic available for reference, the Bank and some of its consolidated subsidiaries made certain assumptions, including that economic conditions recovering to the calendar 2019 level by some time around the end of calendar 2020 globally, and estimated the amount, as best as they could under the circumstances, based on, among other things, such assumptions, information available from external sources, and the approval of the appropriate management decision-making body given in accordance with prescribed internal rules.

14

Mitsubishi UFJ Financial Group, Inc.

For the fiscal year ended March 31, 2021

In calculating the allowance for credit losses, the Bank determine loss rates primarily by calculating a rate of loss based on a historical average of the credit loss rate or a historical average of the default probability derived from actual credit loss experience or actual bankruptcy experience and making necessary adjustments based on future projections and other factors. When making adjustments based on future loss projections and other factors to loss rates calculated based on historical loss experience, the subsidiaries take into account the rate of increase in the credit loss rate or the default probability in a more recent period, especially in light of the sudden and significant deterioration in economic environment under the COVID-19 pandemic. The amount of impact of these adjustments is 30,846 million yen.

Due to these adjustments based on future loss projections and other factors to loss rates calculated based on historical loss experience, which are made to reflect the credit risk for loans and other assets held as of the end of the fiscal year, are based on estimation relating to the economic environment with respect to which objective data are not readily available, in particular, future developments concerning the COVID-19 pandemic, which are expected to impact our transaction counterparties’ operating environment and the economic environment, remain subject to significant uncertainty. Accordingly, we make certain assumptions, including that the pace of future economic recovery would be generally gradual, although the pace may vary from country to country, as balancing economic activity and pandemic control continues. The recorded allowance represents our best estimate made in a manner designed to ensure objectivity and rationality.

These assumptions change to reflect developments in the economic environment, and changes in the assumptions may result in an increase or decrease in the allowance for credit losses in the following fiscal year.

(Major overseas subsidiaries’ total credit costs which are expected to be reflected in MUFG’s consolidated financial statements as of and for the first quarter of the fiscal year ending March 31, 2022)

Major overseas subsidiaries which were consolidated based on their financial statements as of and for the quarter ended December 31, 2020 adopted ASU 2016-13, “Measurement of Credit Losses on Financial Instruments,” the new guidance that introduced the concept of current expected credit loss, as of the beginning of the first quarter of the fiscal year ending December 31, 2020. As a result, these subsidiaries record provision for allowance for credit losses by taking into account certain forecasted information such as macroeconomic indicators.

Under the new guidance, it is currently estimated that subsidiaries’ total credit costs for the quarter ended March 31, 2021 will be approximately ¥10 billion in total. The subsidiaries’ total credit costs will be reflected in MUFG’s consolidated financial statements as of and for the quarter ending June 30, 2021.

The definition of total credit costs is described in “1. Financial Results” of “Selected Financial Information under Japanese GAAP For the Fiscal Year Ended March 31, 2021”.

15

Mitsubishi UFJ Financial Group, Inc.

(Segment Information)

1. Information on net revenue and operating profit (loss) for each reporting segment

For the Fiscal Year Ended March 31, 2021

	(in millions of yen)
	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 of Customer Business		Global Markets Business Group		Other			Total
Net revenue		1,389,429		559,904		426,348		783,238		293,451		3,452,372		634,849		(4,946	)		4,082,275
Operating expenses		1,130,425		319,354		269,885		509,031		210,009		2,438,706		234,035		160,943			2,833,684
Operating profit (loss)		259,003		240,550		156,463		274,207		83,441		1,013,666		400,814		(165,889	)		1,248,590

(Notes)

1. “Net revenue” in the above table is used in lieu of net sales generally used by Japanese non-financial companies.

2. “Net revenue” includes net interest income, trust fees, net fees and commissions, net trading profit, and net other operating profit.

3. “Operating expenses” includes personnel expenses and premise expenses.

4. Assets and liabilities of each reporting segment are not reported since MUFG does not allocate assets and liabilities among the segments for internal management purposes.

2. Reconciliation of the total operating profit in each of the above tables to the ordinary profit in the consolidated statement of income for the corresponding fiscal year period

operating profit	For the fiscal year ended March 31,2021
Total operating profit of reporting segments		1,248,590
Operating profit of consolidated subsidiaries excluded from reporting segments		(403	)
Provision for general allowance for credit losses		(203,867	)
Credit related expenses		(378,886	)
Gains on loans written-off		67,224
Net gains on equity securities and other securities		130,273
Equity in earnings of equity method investees		321,761
Others		(131,079	)
Ordinary profit in the consolidated statement of income		1,053,610

16

Mitsubishi UFJ Financial Group, Inc.

(Per Share Information)

	For the fiscal year ended March 31, 2021
Total equity per common share		¥1,308.12
Basic earnings per common share		¥60.49
Diluted earnings per common share		¥60.25

(Notes)

1. The bases for the calculation of basic earnings per common share and diluted earnings per common share for the periods indicated were as follows:

		For the fiscal year ended March 31, 2021
Basic earnings per common share
Profits attributable to owners of parent	million yen	777,018
Profits not attributable to common shareholders	million yen	—
Profits attributable to common shareholders of parent	million yen	777,018
Average number of common shares during the period	thousand shares	12,843,564
Diluted earnings per common share
Adjustment to profits attributable to owners of parent	million yen	(3,175)
Adjustment related to dilutive shares of consolidated subsidiaries and others	million yen	(3,175)
Increase in common shares	thousand shares	—
Subscription rights to shares	thousand shares	—
Description of antidilutive securities which were not included in the calculation of diluted earnings per share		Share subscription rights issued by equity method affiliates: Morgan Stanley Stock options and others - 5 million units as of December 31, 2020
2.  The bases for the calculation of total equity per common share for the period indicated were as follows:
		As of March 31, 2021
Total equity	million yen	17,716,257
Deductions from total equity:	million yen	913,684
Subscription rights to shares	million yen	—
Non-controlling interests	million yen	913,684
Total equity attributable to common shares	million yen	16,802,572
Number of common shares at period end used for the calculation of total equity per common share	thousand shares	12,844,802

17

Selected Financial Information

under Japanese GAAP

For the Fiscal Year Ended March 31, 2021

Mitsubishi UFJ Financial Group, Inc.         

Mitsubishi UFJ Financial Group, Inc.

[Contents]       

1.  Financial Results	[ MUFG Consolidated ]*1[ BK and TB Combined ]*2*3*4 [ BK Consolidated ][ BK Non-consolidated ] [ TB Consolidated ][ TB Non-consolidated ]	1
2.  Average Interest Rate Spread	[ BK Non-consolidated ][ TB Non-consolidated ] [ BK and TB Combined ]	7
3.  Notional Principal by the Remaining Life of the Interest Rate Swaps for Hedge-Accounting	[ MUFG Consolidated ][ BK Consolidated ] [ TB Consolidated ]	8
4.  Securities	[ MUFG Consolidated ] [ BK Non-consolidated ][ TB Non-consolidated ]	9
5.  ROE	[ MUFG Consolidated ]	12
6.  Risk-Adjusted Capital Ratio	[ MUFG Consolidated ][ BK Consolidated ][ TB Consolidated ] [ BK Non-consolidated ][ TB Non-consolidated ]	13
7.  Risk-Monitored Loans	[ MUFG Consolidated ] [ BK Non-consolidated ][ TB Non-consolidated ] [ TB Non-consolidated : Trust Account ]	14
8.  Non Performing Loans Based on the Financial Reconstruction Law (the “FRL”)	[ BK and TB Combined including Trust Account ] [ BK Non-consolidated ][ TB Non-consolidated ] [ TB Non-consolidated : Trust Account ]	18
9.  Progress in Disposition of Problem Assets	[ BK Non-consolidated ] [ TB Non-consolidated including Trust Account ]	23
10.  Loans Classified by Type of Industry, Domestic Consumer Loans, Domestic Loans to Small/Medium-Sized Companies and Proprietors	[ BK and TB Combined including Trust Accounts ] [ BK Non-consolidated ][ TB Non-consolidated ] [ TB Non-consolidated : Trust Accounts ]	25
11.  Overseas Loans	[ BK Consolidated excl. MUAH, KS, BDI ]*5*6*7	29
12.  Loans and Deposits	[ BK and TB Combined ] [ BK Non-consolidated ][ TB Non-consolidated ]	30
13.  Domestic Deposits	[ BK and TB Combined ] [ BK Non-consolidated ][ TB Non-consolidated ]	31
14.  Status of Deferred Tax Assets	[ BK Non-consolidated ][ TB Non-consolidated ]	32
15.  Retirement Benefits	[ MUFG Consolidated ] [ BK Non-consolidated ][ TB Non-consolidated ]	34
(Reference)
1.  Financial Statements	[ BK Non-consolidated ][ TB Non-consolidated ]	37

(*1) “MUFG” means Mitsubishi UFJ Financial Group, Inc.

(*2) “BK” means MUFG Bank, Ltd.

(*3) “TB” means Mitsubishi UFJ Trust and Banking Corporation.

(*4) “BK and TB Combined” means simple sum of “BK” and “TB” without consolidation processes.

(*5) “MUAH” means MUFG Americas Holdings Corporation.

(*6) “KS” means Bank of Ayudhya Public Company Limited.

(*7) “BDI” means PT Bank Danamon Indonesia, Tbk.

Mitsubishi UFJ Financial Group, Inc.

1. Financial Results

MUFG Consolidated

	(in millions of yen)
	For the fiscal year ended						Increase
	March 31, 2021 (A)			March 31, 2020 (B)			(Decrease) (A) - (B)
Gross profits		3,997,912			3,986,304			11,608
Gross profits before credit costs for trust accounts		3,997,912			3,986,304			11,608
Net interest income		1,905,112			1,892,967			12,144
Trust fees		140,449			130,829			9,619
Credit costs for trust accounts (1)		(0	)		0			(0	)
Net fees and commissions		1,334,712			1,341,266			(6,553	)
Net trading profits		350,065			161,457			188,608
Net other operating profits		267,573			459,783			(192,210	)
Net gains (losses) on debt securities		119,061			492,989			(373,927	)
General and administrative expenses		2,749,489			2,801,858			(52,369	)
Amortization of goodwill		16,833			29,551			(12,718	)
Net operating profits before credit costs for trust accounts, provision for general allowance for credit losses and amortization of goodwill		1,265,257			1,213,997			51,259
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		1,248,423			1,184,445			63,978
Provision for general allowance for credit losses (2)		(203,867	)		(111,408	)		(92,459	)
Net operating profits*		1,044,555			1,073,037			(28,481	)
Net non-recurring gains (losses)		9,054			162,733			(153,678	)
Credit costs (3)		(378,886	)		(214,966	)		(163,920	)
Losses on loan write-offs		(188,852	)		(179,213	)		(9,638	)
Provision for specific allowance for credit losses		(174,259	)		(18,237	)		(156,021	)
Other credit costs		(15,775	)		(17,514	)		1,738
Reversal of allowance for credit losses (4)		—			—			—
Reversal of reserve for contingent losses included in credit costs (5)		—			8,148			(8,148	)
Gains on loans written-off (6)		67,224			95,275			(28,051	)
Net gains (losses) on equity securities		130,273			31,339			98,933
Gains on sales of equity securities		189,957			166,710			23,246
Losses on sales of equity securities		(51,585	)		(74,552	)		22,967
Losses on write-down of equity securities		(8,099	)		(60,817	)		52,718
Equity in earnings of equity method investees		321,761			277,221			44,539
Other non-recurring gains (losses)		(131,317	)		(34,286	)		(97,030	)
Ordinary profits		1,053,610			1,235,770			(182,159	)
Net extraordinary gains (losses)		(11,574	)		(406,326	)		394,752
Net gains (losses) on disposition of fixed assets		16,628			1,669			14,958
Losses on impairment of fixed assets		(41,240	)		(65,786	)		24,545
Net gains (losses) on change in equity		22,099			(21,311	)		43,410
Losses on sales of shares of affiliates		(16,033	)		—			(16,033	)
Gains on sales of shares of affiliates		7,344			—			7,344
Amortization of goodwill		—			(343,368	)		343,368
Gains on sales of shares of subsidiaries		—			31,462			(31,462	)
Profits before income taxes		1,042,036			829,443			212,592
Income taxes-current		229,762			189,231			40,531
Income taxes-deferred		(44,694	)		31,668			(76,362	)
Total taxes		185,068			220,899			(35,831	)
Profits		856,967			608,543			248,423
Profits attributable to non-controlling interests		79,949			80,392			(442	)
Profits attributable to owners of parent		777,018			528,151			248,866
Note:
* Net operating profits = Banking subsidiaries’ net operating 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)+(6)		(515,530	)		(222,950	)		(292,579	)
Number of consolidated subsidiaries		258			251			7
Number of affiliated companies accounted for under the equity method		53			54			(1	)

1

Mitsubishi UFJ Financial Group, Inc.

BK and TB Combined

	(in millions of yen)
	For the fiscal year ended						Increase
	March 31, 2021 (A)			March 31, 2020 (B)			(Decrease) (A) - (B)
Gross profits		1,882,799			1,878,061			4,738
Gross profits before credit costs for trust accounts		1,882,799			1,878,061			4,738
Domestic gross profits		975,072			1,175,757			(200,684	)
Net interest income		570,868			638,182			(67,314	)
Trust fees		113,809			104,361			9,448
Credit costs for trust accounts (1)		(0	)		0			(0	)
Net fees and commissions		339,017			341,116			(2,099	)
Net trading profits		1,868			10,149			(8,281	)
Net other operating profits		(50,490	)		81,948			(132,438	)
Net gains (losses) on debt securities		(52,592	)		67,069			(119,661	)
Non-domestic gross profits		907,727			702,304			205,422
Net interest income		405,483			292,159			113,324
Net fees and commissions		153,515			159,914			(6,399	)
Net trading profits		105,390			11,641			93,749
Net other operating profits		243,337			238,588			4,748
Net gains (losses) on debt securities		149,481			420,698			(271,216	)
General and administrative expenses		1,362,349			1,340,421			21,928
Personnel expenses		445,240			445,201			39
Non-personnel expenses		834,780			819,030			15,750
Taxes		82,328			76,189			6,138
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		520,449			537,640			(17,190	)
Provision for general allowance for credit losses (2)		(90,752	)		—			(90,752	)
Net operating profits		429,697			537,640			(107,943	)
Net non-recurring gains (losses)		(94,414	)		72,120			(166,535	)
Credit costs (3)		(141,707	)		(45,684	)		(96,023	)
Losses on loan write-offs		(36,039	)		(28,918	)		(7,121	)
Provision for specific allowance for credit losses		(85,082	)		—			(85,082	)
Other credit costs		(20,585	)		(16,765	)		(3,819	)
Reversal of allowance for credit losses (4)		8			18,859			(18,851	)
Reversal of reserve for contingent losses included in credit costs (5)		95			4,861			(4,765	)
Gains on loans written-off (6)		9,078			34,602			(25,524	)
Net gains (losses) on equity securities		123,057			28,186			94,871
Gains on sales of equity securities		180,515			165,853			14,661
Losses on sales of equity securities		(50,947	)		(74,627	)		23,680
Losses on write-down of equity securities		(6,510	)		(63,039	)		56,529
Other non-recurring gains (losses)		(84,947	)		31,295			(116,242	)
Ordinary profits		335,282			609,761			(274,478	)
Net extraordinary gains (losses)		(243	)		(997,014	)		996,770
Net gains (losses) on disposition of fixed assets		17,670			3,368			14,302
Losses on impairment of fixed assets		(18,306	)		(31,917	)		13,611
Losses on sales of shares of affiliates		(1,978	)		—			(1,978	)
Losses on write-down of shares of subsidiaries		—			(923,076	)		923,076
Losses on write-down of shares of affiliates		—			(54,314	)		54,314
Income before income taxes		335,039			(387,252	)		722,292
Income taxes-current		131,325			128,448			2,876
Income taxes-deferred		(37,168	)		24,290			(61,458	)
Total taxes		94,156			152,739			(58,582	)
Net income		240,882			(539,991	)		780,874
(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		(223,277	)		12,639			(235,917	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities		423,560			49,872			373,687
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities and investment trusts cancellation		438,141			50,157			387,983

2

Mitsubishi UFJ Financial Group, Inc.

BK Consolidated

	(in millions of yen)
	For the fiscal year ended						Increase
	March 31, 2021 (A)			March 31, 2020 (B)			(Decrease) (A) - (B)
Gross profits		2,698,690			2,741,881			(43,190	)
Net interest income		1,598,960			1,605,029			(6,068	)
Trust fees		12,249			12,810			(560	)
Net fees and commissions		664,345			701,617			(37,272	)
Net trading profits		163,959			43,290			120,669
Net other operating profits		259,176			379,134			(119,958	)
Net gains (losses) on debt securities		134,431			483,799			(349,367	)
General and administrative expenses		1,848,548			1,921,857			(73,309	)
Amortization of goodwill		6,049			25,219			(19,169	)
Net operating profits before provision for general allowance for credit losses and amortization of goodwill		856,192			845,243			10,948
Net operating profits before provision for general allowance for credit losses		850,142			820,023			30,118
Provision for general allowance for credit losses (1)		(209,101	)		(107,866	)		(101,235	)
Net operating profits*		641,040			712,157			(71,117	)
Net non-recurring gains (losses)		(210,152	)		(214	)		(209,938	)
Credit costs (2)		(286,177	)		(109,577	)		(176,599	)
Losses on loan write-offs		(110,545	)		(92,415	)		(18,129	)
Provision for specific allowance for credit losses		(159,862	)		352			(160,214	)
Other credit costs		(15,770	)		(17,514	)		1,744
Reversal of allowance for credit losses (3)		—			—			—
Reversal of reserve for contingent losses included in credit costs (4)		—			8,192			(8,192	)
Gains on loans written-off (5)		44,649			73,713			(29,063	)
Net gains (losses) on equity securities		86,956			15,018			71,938
Gains on sales of equity securities		131,889			123,577			8,311
Losses on sales of equity securities		(38,399	)		(53,215	)		14,815
Losses on write-down of equity securities		(6,532	)		(55,344	)		48,811
Equity in earnings of equity method investees		19,130			(2,468	)		21,599
Other non-recurring gains (losses)		(74,712	)		14,908			(89,620	)
Ordinary profits		430,887			711,942			(281,055	)
Net extraordinary gains (losses)		(6,524	)		(371,551	)		365,026
Net gains (losses) on disposition of fixed assets		16,947			3,770			13,176
Losses on impairment of fixed assets		(23,472	)		(58,849	)		35,377
Amortization of goodwill		—			(359,323	)		359,323
Gains on sales of shares of subsidiaries		—			31,462			(31,462	)
Profits before income taxes		424,362			340,391			83,971
Income taxes-current		178,172			196,788			(18,616	)
Income taxes-deferred		(81,769	)		4,047			(85,817	)
Total taxes		96,402			200,836			(104,433	)
Profits		327,960			139,555			188,404
Profits attributable to non-controlling interests		20,198			41,634			(21,435	)
Profits attributable to owners of parent		307,761			97,921			209,840
Note:
* Net operating profits = Net operating profits of BK + 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)		(450,629	)		(135,538	)		(315,091	)
Number of consolidated subsidiaries		122			121			1
Number of affiliated companies accounted for under the equity method		44			42			2

3

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

	(in millions of yen)
	For the fiscal year ended							Increase
	March 31, 2021 (A)			March 31, 2020 (B)				(Decrease) (A) - (B)
Gross profits		1,551,105			1,546,255				4,849
Domestic gross profits		710,312			918,088				(207,775	)
Net interest income		531,982			571,682				(39,700	)
Net fees and commissions		242,348			248,564				(6,215	)
Net trading profits		3,453			2,039				1,413
Net other operating profits		(67,472	)		95,801				(163,273	)
Net gains (losses) on debt securities		(64,047	)		73,609				(137,657	)
Non-domestic gross profits		840,792			628,167				212,625
Net interest income		314,559			246,112				68,446
Net fees and commissions		150,205			157,450				(7,244	)
Net trading profits		104,996			10,434				94,561
Net other operating profits		271,031			214,169				56,862
Net gains (losses) on debt securities		180,690			404,863				(224,172	)
General and administrative expenses		1,163,040			1,150,980				12,060
Personnel expenses		380,442			385,391				(4,949	)
Non-personnel expenses		710,069			698,542				11,526
Amortization of goodwill		1,566			825				740
Taxes		72,529			67,046				5,482
Net operating profits before provision for general allowance for credit losses and amortization of goodwill		389,631			396,100				(6,469	)
Net operating profits before provision for general allowance for credit losses		388,064			395,274				(7,210	)
Provision for general allowance for credit losses (1)		(90,752	)		—				(90,752	)
Net operating profits		297,311			395,274				(97,962	)
Net non-recurring gains (losses)		(95,064	)		63,909				(158,974	)
Credit costs (2)		(141,702	)		(45,675	)			(96,026	)
Reversal of allowance for credit losses (3)		—			18,072				(18,072	)
Reversal of reserve for contingent losses included in credit costs (4)		—			4,831				(4,831	)
Gains on loans written-off (5)		9,078			34,590				(25,512	)
Net gains (losses) on equity securities		84,019			11,157				72,861
Gains on sales of equity securities		125,788			119,616				6,171
Losses on sales of equity securities		(36,885	)		(52,959	)			16,074
Losses on write-down of equity securities		(4,884	)		(55,499	)			50,615
Other non-recurring gains (losses)		(46,460	)		40,933				(87,393	)
Ordinary profits		202,247			459,184				(256,937	)
Net extraordinary gains (losses)		3,336			(995,111	)			998,447
Net gains (losses) on disposition of fixed assets		17,719			3,082				14,636
Losses on impairment of fixed assets		(16,754	)		(29,644	)			12,889
Losses on write-down of shares of subsidiaries		—			(923,076	)			923,076
Losses on write-down of shares of affiliates		—			(54,314	)	��		54,314
Income before income taxes		205,583			(535,927	)			741,510
Income taxes-current		101,551			96,429				5,122
Income taxes-deferred		(40,447	)		20,716				(61,164	)
Total taxes		61,103			117,145				(56,041	)
Net income		144,479			(653,072	)			797,552
(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)		(223,376	)		11,818				(235,195	)
Provision for general allowance for credit losses		(90,752	)		(42,875	)			(47,877	)
Provision for special allowance for credit losses		(85,082	)		60,834				(145,916	)
Allowance for credit to specific foreign borrowers		(374	)		113				(488	)
Losses on loans write-off		(36,034	)		(28,909	)			(7,124	)
Provision for contingent losses included in credit costs		(5,796	)		4,831				(10,627	)
Gains on loans written-off		9,078			34,590				(25,512	)
Losses on sales of other loans, etc.		(14,414	)		(16,765	)			2,351
Net operating profits before provision for general allowance for credit losses, excluding net gains (losses) on debt securities		271,421			(83,198	)			354,619
Net operating profits before provision for general allowance for credit losses, excluding net gains (losses) on debt securities and investment trusts cancellation		275,955			(90,474	)			366,430

4

Mitsubishi UFJ Financial Group, Inc.

TB Consolidated

	(in millions of yen)
	For the fiscal year ended						Increase
	March 31, 2021 (A)			March 31, 2020 (B)			(Decrease) (A) - (B)
Gross profits		519,511			472,305			47,205
Gross profits before credit costs for trust accounts		519,511			472,304			47,206
Trust fees		128,566			118,336			10,230
Trust fees before credit costs for trust accounts		128,566			118,335			10,231
Money trusts fees (Jointly operated designated money trusts before credit costs for trust account)		21,434			15,864			5,570
Other trust fees		107,131			102,471			4,660
Credit costs for trust accounts (1)		(0	)		0			(0	)
Net interest income		116,540			95,501			21,039
Net fees and commissions		268,576			221,571			47,004
Net trading profits		5,297			13,887			(8,589	)
Net other operating profits		529			23,008			(22,479	)
Net gains (losses) on debt securities		(19,973	)		8,695			(28,669	)
General and administrative expenses		365,112			322,364			42,747
Amortization of goodwill		10,780			4,951			5,829
Net operating profits before credit costs for trust accounts, provision for general allowance for credit losses and amortization of goodwill		165,179			154,891			10,288
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		154,399			149,940			4,458
Provision for general allowance for credit losses (2)		—			—			—
Net operating profits*		154,399			149,940			4,458
Net non-recurring gains (losses)		2,995			11,985			(8,990	)
Credit costs (3)		(23	)		(59	)		35
Losses on loan write-offs		(25	)		(23	)		(1	)
Provision for specific allowance for credit losses		—			—			—
Other credit costs		1			(35	)		36
Reversal of allowance for credit losses (4)		66			721			(654	)
Reversal of reserve for contingent losses included in credit costs (5)		—			—			—
Gains on loans written-off (6)		13			66			(53	)
Net gains (losses) on equity securities		39,187			19,626			19,561
Gains on sales of equity securities		54,726			48,777			5,949
Losses on sales of equity securities		(14,062	)		(21,682	)		7,620
Losses on write-down of equity securities		(1,477	)		(7,468	)		5,991
Equity in earnings of equity method investees		4,577			530			4,046
Other non-recurring gains (losses)		(40,825	)		(8,899	)		(31,926	)
Ordinary profits		157,394			161,926			(4,532	)
Net extraordinary gains (losses)		6,260			(1,585	)		7,846
Net gains (losses) on disposition of fixed assets		468			712			(244	)
Losses on impairment of fixed assets		(1,552	)		(2,298	)		746
Gains on sales of shares of affiliates		7,344			—			7,344
Profits before income taxes		163,654			160,341			3,313
Income taxes-current		43,333			42,023			1,310
Income taxes-deferred		1,986			3,641			(1,654	)
Total taxes		45,320			45,664			(344	)
Profits		118,334			114,676			3,658
Profits attributable to non-controlling interests		399			448			(48	)
Profits attributable to owners of parent		117,934			114,227			3,706
Note:
* Net operating profits = Net operating profits of TB + 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)+(6)		55			729			(673	)
Number of consolidated subsidiaries		105			95			10
Number of affiliated companies accounted for under the equity method		5			7			(2	)
TB Consolidated(combined operating results of TB and transferred entities to Intermediate Holding Company in the United States) To comply with the financial regulations in the United States, TB transferred the interests in its subsidiaries in the United States to the Intermediate Holding Company(“IHC”) in United States which are owned by BK and MUFG. The combined operating results of TB and transferred entities are as follows(the operating results of transferred entities are prepared for managerial accounting purpose):
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		154,114			149,993			4,120
Profits attributable to owners of parent		117,615			114,699			2,916
Number of the entities transferred to IHC		4			4			—

5

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

	(in millions of yen)
	For the fiscal year ended						Increase
	March 31, 2021 (A)			March 31, 2020 (B)			(Decrease) (A) - (B)
Gross profits		331,694			331,806			(111	)
Gross profits before credit costs for trust accounts		331,694			331,805			(111	)
Domestic gross profits		264,760			257,669			7,091
Trust fees		113,809			104,361			9,448
Trust fees before credit costs for trust accounts		113,809			104,360			9,449
Money trusts fees (Jointly operated designated money trusts before credit costs for trust account)		21,434			15,864			5,570
Other trust fees		92,375			88,496			3,878
Credit costs for trust accounts (1)		(0	)		0			(0	)
Net interest income		38,885			66,499			(27,614	)
Net fees and commissions		96,668			92,552			4,115
Net trading profits		(1,584	)		8,109			(9,694	)
Net other operating profits		16,981			(13,853	)		30,834
Net gains (losses) on debt securities		11,455			(6,540	)		17,995
Non-domestic gross profits		66,934			74,137			(7,202	)
Net interest income		90,924			46,046			44,877
Net fees and commissions		3,309			2,464			845
Net trading profits		394			1,207			(812	)
Net other operating profits		(27,694	)		24,419			(52,113	)
Net gains (losses) on debt securities		(31,208	)		15,835			(47,043	)
General and administrative expenses		199,309			189,440			9,868
Personnel expenses		64,798			59,809			4,989
Non-personnel expenses		124,711			120,488			4,223
Taxes		9,799			9,142			656
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		132,385			142,365			(9,979	)
Provision for general allowance for credit losses (2)		—			—			—
Net operating profits		132,385			142,366			(9,980	)
Net non-recurring gains (losses)		649			8,210			(7,560	)
Credit costs (3)		(5	)		(8	)		3
Reversal of allowance for credit losses (4)		8			786			(778	)
Reversal of reserve for contingent losses included in credit costs (5)		95			29			65
Gains on loans written-off (6)		0			12			(12	)
Net gains (losses) on equity securities		39,038			17,028			22,009
Gains on sales of equity securities		54,726			46,236			8,489
Losses on sales of equity securities		(14,062	)		(21,667	)		7,605
Losses on write-down of equity securities		(1,625	)		(7,540	)		5,914
Other non-recurring gains (losses)		(38,486	)		(9,637	)		(28,849	)
Ordinary profits		133,035			150,577			(17,541	)
Net extraordinary gains (losses)		(3,579	)		(1,902	)		(1,676	)
Net gains (losses) on disposition of fixed assets		(48	)		285			(334	)
Losses on impairment of fixed assets		(1,552	)		(2,273	)		721
Losses on sales of shares of affiliates		(1,978	)		—			(1,978	)
Income before income taxes		129,456			148,674			(19,218	)
Income taxes-current		29,773			32,019			(2,246	)
Income taxes-deferred		3,279			3,573			(294	)
Total taxes		33,052			35,593			(2,540	)
Net income		96,403			113,081			(16,677	)
(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		98			820			(722	)
Credit costs for trust accounts		(0	)		0			(0	)
Provision for general allowance for credit losses		242			784			(542	)
Provision for special allowance for credit losses		(234	)		1			(236	)
Allowance for credit to specific foreign borrowers		—			—			—
Losses on loans write-offs		(5	)		(8	)		3
Provision for contingent losses included in credit costs		95			29			65
Gains on loans written-off		0			12			(12	)
Losses on sales of other loans, etc.		—			—			—
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities		152,138			133,070			19,067
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities and investment trusts cancellation		162,185			140,632			21,553

6

Mitsubishi UFJ Financial Group, Inc.

2. Average Interest Rate Spread

BK Non-consolidated

	(percentage per annum)
(Domestic business segment)	For the fiscal year ended March 31, 2021 (A)		Increase (Decrease) (A) - (B)			For the fiscal year ended March 31, 2020 (B)
Total average interest rate on interest-earning assets (a)		0.41		(0.08	)		0.49
Average interest rate on loans and bills discounted (b)		0.72		(0.05	)		0.78
Average interest rate on securities		0.27		(0.27	)		0.55
Total average interest rate on interest-bearing liabilities (c) <including general and administrative expenses>		0.40		(0.09	)		0.50
Average interest rate on deposits and NCD (d)		0.00		(0.00	)		0.00
Average interest rate on other liabilities		0.12		(0.09	)		0.21
Overall interest rate spread (a)-(c)		0.00		0.01			(0.00	)
Interest rate spread (b)-(d)		0.72		(0.05	)		0.77
(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted (e)		0.74		(0.05	)		0.80
Interest rate spread (e)-(d)		0.74		(0.05	)		0.79
TB Non-consolidated
	(percentage per annum)
(Domestic business segment)	For the fiscal year ended March 31, 2021 (A)		Increase     (Decrease)     (A) - (B)			For the fiscal year ended March 31, 2020 (B)
Total average interest rate on interest-earning assets (a)		0.39		(0.23	)		0.62
Average interest rate on loans and bills discounted (b)		0.33		(0.01	)		0.34
Average interest rate on securities		1.21		(0.57	)		1.79
Total average interest rate on interest-bearing liabilities (c)		0.08		(0.04	)		0.12
Average interest rate on deposits and NCD (d)		0.02		(0.01	)		0.04
Overall interest rate spread (a)-(c)		0.30		(0.19	)		0.49
Interest rate spread (b)-(d)		0.30		0.00			0.29
(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted (e)		0.64		(0.01	)		0.66
Interest rate spread (e)-(d)		0.61		(0.00	)		0.61
BK and TB Combined
	(percentage per annum)
(Domestic business segment)	For the fiscal year ended March 31, 2021 (A)		Increase (Decrease) (A) - (B)			For the fiscal year ended March 31, 2020 (B)
Average interest rate on loans and bills discounted (a)		0.70		(0.04	)		0.75
Average interest rate on deposits and NCD (b)		0.00		(0.00	)		0.00
Interest rate spread (a)-(b)		0.70		(0.04	)		0.74
(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted (c)		0.74		(0.05	)		0.79
Interest rate spread (c)-(b)		0.74		(0.05	)		0.79

7

Mitsubishi UFJ Financial Group, Inc.

3. Notional Principal by the Remaining Life of the Interest Rate Swaps for Hedge-Accounting

MUFG Consolidated

	(in billions of yen)
	As of March 31, 2021
	within 1 year		1 year to 5 years		over 5 years		Total
Receive-fix/pay-floater		3,321.8		5,499.5		7,991.7		16,813.2
Receive-floater/pay-fix		1,016.2		2,190.5		1,736.0		4,942.8
Receive-floater/pay-floater		—		—		—		—
Receive-fix/pay-fix		—		—		—		—
Total		4,338.1		7,690.1		9,727.8		21,756.0
BK Consolidated
	(in billions of yen)
	As of March 31, 2021
	within 1 year		1 year to 5 years		over 5 years		Total
Receive-fix/pay-floater		3,202.2		5,071.4		7,861.3		16,135.0
Receive-floater/pay-fix		722.7		1,005.3		258.7		1,986.8
Receive-floater/pay-floater		—		—		—		—
Receive-fix/pay-fix		—		—		—		—
Total		3,925.0		6,076.7		8,120.0		18,121.9
TB Consolidated
	(in billions of yen)
	As of March 31, 2021
	within 1 year		1 year to 5 years		over 5 years		Total
Receive-fix/pay-floater		119.6		348.3		107.8		575.8
Receive-floater/pay-fix		292.4		1,126.2		1,452.2		2,870.9
Receive-floater/pay-floater		—		—		—		—
Receive-fix/pay-fix		—		—		—		—
Total		412.0		1,474.5		1,560.1		3,446.7

8

Mitsubishi UFJ Financial Group, Inc.

4. Securities

MUFG Consolidated

The tables include negotiable certificates of deposit in “Cash and due from banks”, beneficiary rights to the trust in “Monetary claims bought” and others in addition to “Securities”.

Fair Value Information on Securities

	(in millions of yen)
	As of March 31, 2021									As of March 31, 2020
	Amount on consolidated balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on consolidated balance sheet		Unrealized gains (losses)			Gains		Losses
Debt securities being held to maturity		3,903,764		35,380			50,465		15,085		4,165,781		12,113			43,847		31,734
Domestic bonds		1,100,447		23,032			23,032		—		1,100,574		29,855			29,855		—
Government bonds		1,100,447		23,032			23,032		—		1,100,574		29,855			29,855		—
Municipal bonds		—		—			—		—		—		—			—		—
Short-term corporate bonds		—		—			—		—		—		—			—		—
Corporate bonds		—		—			—		—		—		—			—		—
Other		2,803,317		12,347			27,432		15,085		3,065,206		(17,742	)		13,991		31,734
Foreign bonds		756,657		22,902			25,711		2,808		1,034,835		9,696			13,715		4,018
Other		2,046,659		(10,555	)		1,721		12,277		2,030,371		(27,439	)		276		27,715
	(in millions of yen)
	As of March 31, 2021									As of March 31, 2020
	Amount on consolidated balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on consolidated balance sheet		Unrealized gains (losses)			Gains		Losses
Available-for-sale securities		73,892,007		3,749,919			4,227,901		477,981		62,151,189		2,888,631			3,361,658		473,026
Domestic equity securities		5,216,386		3,350,537			3,390,250		39,712		4,141,355		2,139,981			2,222,330		82,349
Domestic bonds		40,552,270		122,506			167,887		45,381		27,473,106		171,378			206,512		35,134
Government bonds		32,344,709		86,944			123,397		36,452		20,643,048		123,911			152,196		28,284
Municipal bonds		3,731,515		12,310			15,124		2,814		2,952,820		14,076			16,279		2,202
Short-term corporate bonds		564,097		26			31		4		—		—			—		—
Corporate bonds		3,911,947		23,225			29,334		6,109		3,877,238		33,389			38,036		4,647
Other		28,123,350		276,874			669,762		392,888		30,536,727		577,271			932,815		355,543
Foreign equity securities		86,025		21,102			21,104		1		79,521		12,671			12,690		19
Foreign bonds		21,236,699		103,001			377,998		274,996		24,502,462		738,144			798,956		60,811
Other		6,800,625		152,770			270,659		117,889		5,954,743		(173,544	)		121,168		294,712
Redemption schedule of Available-for-sale securities with maturities and debt securities being held to maturity
	(in millions of yen)
	As of March 31, 2021									As of March 31, 2020
	within 1 year		1 year to 5 years			5 years to 10 years		over 10 years		within 1 year		1 year to 5 years			5 years to 10 years		over 10 years
Domestic bonds		23,813,598		6,929,239			6,909,513		4,000,366		10,619,157		9,697,443			4,227,061		4,030,017
Government bonds		22,879,850		4,097,191			3,880,019		2,588,095		10,396,682		7,588,648			1,156,573		2,601,718
Municipal bonds		69,592		1,390,238			2,271,684		—		11,351		763,350			2,178,117		—
Short-term corporate bonds		564,097		—			—		—		—		—			—		—
Corporate bonds		300,057		1,441,808			757,809		1,412,271		211,123		1,345,445			892,370		1,428,299
Other		3,260,028		8,703,402			6,630,163		9,452,219		3,803,556		5,844,370			7,626,742		14,049,606
Foreign bonds		2,549,349		7,085,913			5,290,960		7,067,133		3,221,731		4,340,556			6,865,314		11,109,696
Other		710,678		1,617,489			1,339,203		2,385,086		581,825		1,503,813			761,428		2,939,909
Total		27,073,626		15,632,642			13,539,677		13,452,586		14,422,714		15,541,813			11,853,804		18,079,624

9

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

The tables include negotiable certificates of deposit in “Cash and due from banks”, beneficiary rights to the trust in “Monetary claims bought” and others in addition to “Securities”.

Fair Value Information on Securities

	(in millions of yen)
	As of March 31, 2021									As of March 31, 2020
	Amount on balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on balance sheet		Unrealized gains (losses)			Gains		Losses
Debt securities being held to maturity		1,785,106		14,751			23,032		8,281		1,944,533		18,785			30,046		11,260
Stocks of subsidiaries and affiliates		625,594		527,522			527,966		443		627,818		(17,184	)		4,344		21,529
	(in millions of yen)
	As of March 31, 2021									As of March 31, 2020
	Amount on balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on balance sheet		Unrealized gains (losses)			Gains		Losses
Available-for-sale securities		57,463,835		2,711,253			3,055,469		344,216		46,321,585		1,991,487			2,347,728		356,240
Domestic equity securities		4,320,383		2,703,898			2,739,050		35,151		3,374,636		1,651,395			1,725,564		74,169
Domestic bonds		38,401,935		119,605			157,408		37,803		25,770,967		154,064			186,191		32,127
Other		14,741,516		(112,250	)		159,010		271,261		17,175,981		186,027			435,971		249,943
Foreign equity securities		61,701		14,126			14,128		1		53,695		6,530			6,549		19
Foreign bonds		11,001,832		(179,648	)		28,372		208,020		13,997,325		370,202			401,257		31,055
Other		3,677,982		53,270			116,509		63,238		3,124,961		(190,704	)		28,164		218,868
Redemption schedule of Available-for-sale securities with maturities and debt securities being held to maturity
	(in millions of yen)
	As of March 31, 2021									As of March 31, 2020
	within 1 year		1 year to 5 years			5 years to 10 years		over 10 years		within 1 year		1 year to 5 years			5 years to 10 years		over 10 years
Domestic bonds		22,940,204		6,720,882			6,606,103		3,235,193		10,106,478		9,245,170			4,078,218		3,441,674
Government bonds		22,571,678		3,986,589			3,629,529		1,928,989		9,902,705		7,188,369			1,106,011		2,096,962
Municipal bonds		69,592		1,381,708			2,254,941		—		11,351		759,253			2,156,905		—
Short-term corporate bonds		—		—			—		—		—		—			—		—
Corporate bonds		298,932		1,352,583			721,632		1,306,203		192,421		1,297,547			815,301		1,344,712
Other		2,293,657		5,147,155			2,187,294		4,439,400		2,600,654		2,410,872			3,474,229		8,298,085
Foreign bonds		1,766,311		3,859,156			1,647,742		3,728,622		2,257,468		1,269,228			3,078,456		7,392,171
Other		527,345		1,287,999			539,551		710,778		343,186		1,141,643			395,772		905,914
Total		25,233,861		11,868,037			8,793,397		7,674,593		12,707,132		11,656,042			7,552,448		11,739,760

10

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

The tables include negotiable certificates of deposit in “Cash and due from banks”, beneficiary rights to the trust in “Monetary claims bought” in addition to “Securities”.

Fair Value Information on Securities

	(in millions of yen)
	As of March 31, 2021									As of March 31, 2020
	Amount on balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on balance sheet		Unrealized gains (losses)			Gains		Losses
Debt securities being held to maturity		1,259,698		(1,968	)		1,705		3,673		1,059,871		(15,289	)		—		15,289
Stocks of subsidiaries and affiliates		67,814		2,389			2,760		371		28,482		(1,873	)		23		1,896
	(in millions of yen)
	As of March 31, 2021									As of March 31, 2020
	Amount on balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on balance sheet		Unrealized gains (losses)			Gains		Losses
Available—for-sale securities		11,016,988		853,279			974,526		121,247		10,698,869		727,878			834,142		106,263
Domestic equity securities		939,291		595,246			603,069		7,823		807,271		432,023			447,382		15,359
Domestic bonds		2,136,137		2,797			10,478		7,680		1,710,778		16,171			19,308		3,136
Other		7,941,559		255,235			360,979		105,743		8,180,820		279,683			367,451		87,767
Foreign equity securities		56		41			41		—		44		35			35		—
Foreign bonds		6,262,308		166,399			218,733		52,333		6,616,153		262,471			280,229		17,757
Other		1,679,194		88,794			142,204		53,409		1,564,622		17,176			87,186		70,009
Redemption schedule of Available-for-sale securities with maturities and debt securities being held to maturity
	(in millions of yen)
	As of March 31, 2021									As of March 31, 2020
	within 1 year		1 year to 5 years			5 years to 10 years		over 10 years		within 1 year		1 year to 5 years			5 years to 10 years		over 10 years
Domestic bonds		861,637		205,915			303,410		765,173		511,354		462,237			148,843		588,343
Government bonds		286,457		110,602			250,490		659,105		492,702		400,279			50,562		504,756
Municipal bonds		—		8,530			16,743		—		—		4,097			21,212		—
Short-term corporate bonds		564,097		—			—		—		—		—			—		—
Corporate bonds		11,082		86,782			36,176		106,068		18,652		57,861			77,068		83,587
Other		213,530		1,784,299			2,915,787		2,885,206		343,946		1,834,493			2,519,427		3,586,770
Foreign bonds		209,512		1,672,427			2,824,901		2,815,165		248,629		1,634,668			2,359,975		3,432,751
Other		4,018		111,871			90,886		70,040		95,317		199,825			159,451		154,018
Total		1,075,168		1,990,214			3,219,197		3,650,379		855,300		2,296,731			2,668,270		4,175,113

11

Mitsubishi UFJ Financial Group, Inc.

5. ROE

MUFG Consolidated

	(%)
	For the fiscal year ended March 31, 2021 (A)		Increase (Decrease) (A) - (B)		For the fiscal year ended March 31, 2020 (B)
ROE		5.63		1.77		3.85

Note:

ROE is computed as follows:

Profits attributable to owners of parent	× 100
{(Total shareholders’ equity at the beginning of the period + Foreign currency translation adjustments at the beginning of the period) + (Total shareholders’ equity at the end of the period + Foreign currency translation adjustments at the end of the period)} / 2

12

Mitsubishi UFJ Financial Group, Inc.

6. Risk-Adjusted Capital Ratio

MUFG Consolidated	(in billions of yen)
	As of March 31, 2021 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2020 (B)			As of September 30, 2020
(1)   Total capital ratio (4)/(7)		16.31	%		0.44	%		15.87	%		16.55	%
(2)   Tier 1 capital ratio (5)/(7)		13.96	%		0.39	%		13.56	%		14.11	%
(3)   Common Equity Tier 1 capital ratio (6)/(7)		12.33	%		0.42	%		11.90	%		12.52	%
(4)   Total capital		18,669.5			389.9			18,279.5			18,764.4
(5)   Tier 1 capital		15,982.7			359.4			15,623.3			15,998.0
(6)   Common Equity Tier 1 capital		14,113.7			405.3			13,708.3			14,188.1
(7)   Risk weighted assets		114,419.3			(716.2	)		115,135.6			113,312.5
(8)   Required Capital (7)×8%		9,153.5			(57.3	)		9,210.8			9,065.0
BK Consolidated	(in billions of yen)
	As of March 31, 2021 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2020 (B)			As of September 30, 2020
(1)   Total capital ratio (4)/(7)		15.04	%		0.61	%		14.43	%		15.00	%
(2)   Tier 1 capital ratio (5)/(7)		12.76	%		0.46	%		12.29	%		12.66	%
(3)   Common Equity Tier 1 capital ratio (6)/(7)		11.17	%		0.46	%		10.70	%		11.13	%
(4)   Total capital		14,630.4			344.8			14,285.6			14,488.1
(5)   Tier 1 capital		12,411.3			241.3			12,170.0			12,229.4
(6)   Common Equity Tier 1 capital		10,865.3			268.1			10,597.1			10,754.0
(7)   Risk weighted assets		97,239.3			(1,734.3	)		98,973.6			96,568.9
(8)   Required Capital (7)×8%		7,779.1			(138.7	)		7,917.8			7,725.5
TB Consolidated	(in billions of yen)
	As of March 31, 2021 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2020 (B)			As of September 30, 2020
(1)   Total capital ratio (4)/(7)		22.47	%		(2.99	)%		25.46	%		25.30	%
(2)   Tier 1 capital ratio (5)/(7)		20.02	%		(1.88	)%		21.90	%		22.10	%
(3)   Common Equity Tier 1 capital ratio (6)/(7)		17.99	%		(1.47	)%		19.46	%		19.86	%
(4)   Total capital		2,099.6			209.6			1,889.9			2,048.1
(5)   Tier 1 capital		1,870.9			245.2			1,625.7			1,789.4
(6)   Common Equity Tier 1 capital		1,681.1			236.7			1,444.3			1,608.0
(7)   Risk weighted assets		9,344.0			1,923.3			7,420.6			8,095.3
(8)   Required Capital (7)×8%		747.5			153.8			593.6			647.6
BK Non-consolidated	(in billions of yen)
	As of March 31, 2021 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2020 (B)			As of September 30, 2020
(1)   Total capital ratio (4)/(7)		14.60	%		(0.16	)%		14.76	%		15.22	%
(2)   Tier 1 capital ratio (5)/(7)		12.42	%		(0.10	)%		12.52	%		12.90	%
(3)   Common Equity Tier 1 capital ratio (6)/(7)		10.66	%		(0.00	)%		10.67	%		11.15	%
(4)   Total capital		12,359.4			267.2			12,092.2			12,344.3
(5)   Tier 1 capital		10,512.4			257.7			10,254.6			10,460.0
(6)   Common Equity Tier 1 capital		9,025.2			286.2			8,738.9			9,044.4
(7)   Risk weighted assets		84,632.8			2,745.7			81,887.1			81,055.3
(8)   Required Capital (7)×8%		6,770.6			219.6			6,550.9			6,484.4
TB Non-consolidated	(in billions of yen)
	As of March 31, 2021 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2020 (B)			As of September 30, 2020
(1)   Total capital ratio (4)/(7)		21.91	%		(3.50	)%		25.42	%		24.87	%
(2)   Tier 1 capital ratio (5)/(7)		19.73	%		(2.53	)%		22.27	%		22.04	%
(3)   Common Equity Tier 1 capital ratio (6)/(7)		17.92	%		(2.19	)%		20.11	%		20.05	%
(4)   Total capital		2,294.6			163.1			2,131.5			2,262.9
(5)   Tier 1 capital		2,066.4			198.7			1,867.7			2,004.7
(6)   Common Equity Tier 1 capital		1,876.9			190.2			1,686.7			1,823.7
(7)   Risk weighted assets		10,469.5			2,085.6			8,383.9			9,095.7
(8)   Required Capital (7)×8%		837.5			166.8			670.7			727.6

Note: Risk-adjusted capital ratio of MUFG is computed in accordance with the Notification of the Financial Services Agency No.20, 2006.

Risk-adjusted capital ratio of BK and TB are computed in accordance with the Notification of the Financial Services Agency No.19, 2006.

13

Mitsubishi UFJ Financial Group, Inc.

7. Risk-Monitored Loans

MUFG Consolidated

(1) Risk-Monitored Loans

	(in millions of yen)
	As of March 31, 2021 (A)		% to total loans and bills discounted			As of March 31, 2020 (B)		% to total loans and bills discounted			Increase (Decrease) (A) - (B)			% to total loans and bills discounted
Loans to bankrupt borrowers		47,013		0.04	%		39,125		0.03	%		7,887			0.00	%
Non-accrual delinquent loans		847,073		0.79	%		650,698		0.59	%		196,375			0.19	%
Accruing loans contractually past due 3 months or more		26,090		0.02	%		17,238		0.01	%		8,851			0.00	%
Restructured loans		420,857		0.39	%		382,772		0.35	%		38,084			0.04	%
Total risk monitored loans		1,341,034		1.25	%		1,089,835		0.99	%		251,198			0.25	%
Total loans and bills discounted		107,183,069					109,114,612					(1,931,542	)
Written-off		298,281					296,288					1,992
(2) Allowance for Credit Losses
	(in millions of yen)
	As of March 31, 2021 (A)		% to total risk monitored loans			As of March 31, 2020 (B)		% to total risk monitored loans			Increase (Decrease) (A) - (B)			% to total risk monitored loans
Allowance for credit losses		1,105,541		82.43	%		740,641		67.95	%		364,900			14.48	%
General allowance for credit losses		804,942					532,830					272,111
Specific allowance for credit losses		300,049					207,636					92,413
Allowance for credit to specific foreign borrowers		549					174					374
(3) Classification of Risk-Monitored Loans

Classified by Geographic Area	(in millions of yen)
	As of March 31, 2021 (A)		As of March 31, 2020 (B)		Increase (Decrease) (A) - (B)
Domestic		680,989		621,344		59,645
Overseas		660,044		468,490		191,553
Asia		300,597		259,181		41,416
Indonesia		50,483		44,179		6,304
Singapore		44,116		51,358		(7,242	)
Thailand		154,711		150,728		3,982
Hong Kong		832		1,806		(973	)
Other		50,454		11,108		39,345
Americas		224,726		145,574		79,152
Europe, Middle East and Other		134,719		63,735		70,984
Total		1,341,034		1,089,835		251,198

Classified by Industry	(in millions of yen)
	As of March 31, 2021 (A)		As of March 31, 2020 (B)		Increase (Decrease) (A) - (B)
Domestic		680,989		621,344		59,645
Manufacturing		108,572		109,416		(844	)
Construction		7,866		8,823		(956	)
Wholesale and retail		103,881		107,574		(3,693	)
Finance and insurance		4,272		1,157		3,114
Real estate, goods rental and leasing		51,864		39,365		12,499
Services		83,759		57,950		25,808
Other industries		18,331		15,104		3,226
Consumer		302,441		281,951		20,490
Overseas		660,044		468,490		191,553
Financial institutions		10,643		1,209		9,434
Commercial and industrial		528,408		362,389		166,019
Other		120,992		104,892		16,100
Total		1,341,034		1,089,835		251,198

14

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(1) Risk-Monitored Loans

	(in millions of yen)
	As of March 31, 2021 (A)		% to total loans and bills discounted			As of March 31, 2020 (B)		% to total loans and bills discounted			Increase (Decrease) (A) - (B)		% to total loans and bills discounted
Loans to bankrupt borrowers		38,631		0.04	%		27,350		0.03	%		11,280		0.01	%
Non-accrual delinquent loans		512,174		0.57	%		366,444		0.41	%		145,729		0.16	%
Accruing loans contractually past due 3 months or more		14,246		0.01	%		9,083		0.01	%		5,163		0.00	%
Restructured loans		279,632		0.31	%		212,187		0.24	%		67,445		0.07	%
Total risk monitored loans		844,686		0.95	%		615,067		0.69	%		229,618		0.25	%
Total loans and bills discounted		88,447,036					88,258,295					188,741
Written-off		250,633					244,600					6,032
(2) Allowance for Credit Losses
	(in millions of yen)
	As of March 31, 2021 (A)		% to total risk monitored loans			As of March 31, 2020 (B)		% to total risk monitored loans			Increase (Decrease) (A) - (B)		% to total risk monitored loans
Allowance for credit losses		465,391		55.09	%		308,908		50.22	%		156,483		4.87	%
General allowance for credit losses		323,221					232,468					90,752
Specific allowance for credit losses		141,620					76,264					65,355
Allowance for credit to specific foreign borrowers		549					174					374
(3) Classification of Risk-Monitored Loans

Classified by Geographic Area	(in millions of yen)
	As of March 31, 2021 (A)		As of March 31, 2020 (B)		Increase (Decrease) (A) - (B)
Domestic		506,289		432,954		73,335
Overseas		338,396		182,113		156,282
Asia		100,882		64,386		36,495
Indonesia		5,556		171		5,385
Singapore		44,116		51,358		(7,242	)
Thailand		—		—		—
Hong Kong		832		1,806		(973	)
Other		50,376		11,050		39,326
Americas		124,494		65,863		58,631
Europe, Middle East and Other		113,019		51,863		61,156
Total		844,686		615,067		229,618

Classified by Industry	(in millions of yen)
	As of March 31, 2021 (A)		As of March 31, 2020 (B)		Increase (Decrease) (A) - (B)
Domestic		506,289		432,954		73,335
Manufacturing		108,561		109,403		(841	)
Construction		7,857		8,813		(955	)
Wholesale and retail		103,762		107,446		(3,683	)
Finance and insurance		4,269		1,154		3,115
Real estate		27,833		30,012		(2,179	)
Goods rental and leasing		24,020		9,335		14,685
Services		83,753		57,940		25,813
Other industries		18,324		15,096		3,227
Consumer		127,907		93,751		34,155
Overseas		338,396		182,113		156,282
Financial institutions		2,488		—		2,488
Commercial and industrial		335,732		181,870		153,861
Other		175		242		(67	)
Total		844,686		615,067		229,618

15

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Risk-Monitored Loans

	(in millions of yen)
	As of March 31, 2021 (A)		% to total loans and bills discounted			As of March 31, 2020 (B)		% to total loans and bills discounted			Increase (Decrease) (A) - (B)			% to total loans and bills discounted
Loans to bankrupt borrowers		—		—			—		—			—			—
Non-accrual delinquent loans		2,021		0.06	%		2,319		0.05	%		(298	)		0.00	%
Accruing loans contractually past due 3 months or more		—		—			—		—			—			—
Restructured loans		—		—			—		—			—			—
Total risk monitored loans		2,021		0.06	%		2,319		0.05	%		(298	)		0.00	%
Total loans and bills discounted		3,289,807					4,081,093					(791,286	)
Written-off		53					48					5
(2) Allowance for Credit Losses
	(in millions of yen)
	As of March 31, 2021 (A)		% to total risk monitored loans			As of March 31, 2020 (B)		% to total risk monitored loans			Increase (Decrease) (A) - (B)			% to total risk monitored loans
Allowance for credit losses		1,457		72.11	%		1,462		63.04	%		(4	)		9.06	%
General allowance for credit losses		759					999					(239	)
Specific allowance for credit losses		697					462					234
Allowance for credit to specific foreign borrowers		—					—					—

(3) Classification of Risk-Monitored Loans

Classified by Geographic Area	(in millions of yen)
	As of March 31, 2021 (A)		As of March 31, 2020 (B)		Increase (Decrease) (A) - (B)
Domestic		2,021		2,319		(298	)
Overseas		—		—		—
Asia		—		—		—
Indonesia		—		—		—
Singapore		—		—		—
Thailand		—		—		—
Hong Kong		—		—		—
Other		—		—		—
Americas		—		—		—
Europe, Middle East and Other		—		—		—
Total		2,021		2,319		(298	)
Classified by Industry	(in millions of yen)
	As of March 31, 2021 (A)		As of March 31, 2020 (B)		Increase (Decrease) (A) - (B)
Domestic		2,021		2,319		(298	)
Manufacturing		—		—		—
Construction		—		—		—
Wholesale and retail		—		—		—
Finance and insurance		—		—		—
Real estate		10		16		(5	)
Goods rental and leasing		—		—		—
Services		—		—		—
Other industries		—		—		—
Consumer		2,010		2,302		(292	)
Overseas		—		—		—
Financial institutions		—		—		—
Commercial and industrial		—		—		—
Other		—		—		—
Total		2,021		2,319		(298	)

16

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated: Trust Account

“Trust Account” represents trust account with contracts indemnifying the principal amounts.

(1) Risk-Monitored Loans

	(in millions of yen)
	As of March 31, 2021 (A)		% to total loans and bills discounted			As of March 31, 2020 (B)		% to total loans and bills discounted			Increase (Decrease) (A) - (B)			% to total loans and bills discounted
Loans to bankrupt borrowers		—		—			—		—			—			—
Non-accrual delinquent loans		—		—			0		0.00	%		(0	)		(0.00	)%
Accruing loans contractually past due 3 months or more		2		0.03	%		—		—			2			0.03	%
Restructured loans		—		—			3		0.02	%		(3	)		(0.02	)%
Total risk monitored loans		2		0.03	%		3		0.03	%		(1	)		0.00	%
Total loans and bills discounted		6,051					12,285					(6,233	)

(2) Allowance for Credit Losses

	(in millions of yen)
	As of March 31, 2021 (A)		As of March 31, 2020 (B)		Increase (Decrease) (A) - (B)
Allowance for bad debts		18		36		(18	)
(3) Classification of Risk-Monitored Loans
Classified by Industry
	(in millions of yen)
	As of March 31, 2021 (A)		As of March 31, 2020 (B)		Increase (Decrease) (A) - (B)
Domestic		2		3		(1	)
Manufacturing		—		—		—
Construction		—		—		—
Wholesale and retail		—		—		—
Finance and insurance		—		—		—
Real estate		—		—		—
Goods rental and leasing		—		—		—
Services		—		—		—
Other industries		—		—		—
Consumer		2		3		(1	)
Total		2		3		(1	)

17

Mitsubishi UFJ Financial Group, Inc.

8. Non Performing Loans Based on the Financial Reconstruction Law (the “FRL”)

BK and TB Combined including Trust Account

“Trust account” represents trust account with contracts indemnifying the principal amounts.

(1) Non Performing Loans

							(in millions of yen)
							As of March 31, 2021 (A)			As of March 31, 2020 (B)			Increase (Decrease) (A) - (B)
Bankrupt or De facto Bankrupt								147,818			121,990			25,828
Doubtful								416,668			310,975			105,693
Special Attention								293,879			221,271			72,608
Non Performing Loans (1)								858,366			654,237			204,129
Normal								99,534,250			99,954,031			(419,781	)
Total								100,392,617			100,608,268			(215,651	)
Non Performing Loans / Total								0.85	%		0.65	%		0.20	%
(2) Status of Coverage of Non Performing Loans
							(in millions of yen)
							As of March 31, 2021 (A)			As of March 31, 2020 (B)			Increase (Decrease) (A) - (B)
Covered amount (2)								682,952			515,289			167,663
Allowance for credit losses								211,330			140,511			70,819
Collateral, guarantees, etc.								471,622			374,777			96,844
Coverage ratio (2) / (1)								79.56	%		78.76	%		0.80	%
(3) Coverage Ratio
	(in millions of yen)
Category	Loan amount (A)			Allowance for credit losses (B)			Covered by collateral and/ or guarantees (C)			Coverage ratio for unsecured portion (B) / [(A) - (C)]			Coverage ratio [(B) + (C)] / (A)
Bankrupt or De facto Bankrupt		147,818			20,058			127,759			—			100.00	%
		[121,990	]		[2,772	]		[119,217	]					[100.00	%]
Doubtful		416,668			121,299			212,592			—			80.13	%
		[310,975	]		[72,607	]		[170,444	]					[78.15	%]
Special Attention		293,879			69,971			131,270			—			68.47	%
		[221,271	]		[65,131	]		[85,115	]					[67.90	%]
Total		858,366			211,330			471,622			—			79.56	%
		[654,237	]		[140,511	]		[374,777	]					[78.76	%]
Note: The upper figures are as of March 31, 2021. The lower figures with brackets are as of March 31, 2020. (4)  Classified by Industry
							(in millions of yen)
							As of March 31, 2021 (A)			As of March 31, 2020 (B)			Increase (Decrease) (A) - (B)
Domestic								514,667			442,033			72,633
Manufacturing								110,710			111,393			(682	)
Construction								7,857			8,813			(955	)
Wholesale and retail								106,348			110,391			(4,043	)
Finance and insurance								4,518			1,459			3,059
Real estate								27,996			30,188			(2,191	)
Goods rental and leasing								24,025			9,335			14,690
Services								84,135			58,405			25,729
Other industries								19,126			15,899			3,226
Consumer								129,947			96,146			33,800
Overseas								343,699			212,203			131,495
Financial institutions								2,820			—			2,820
Commercial and industrial								340,659			211,851			128,807
Other								219			351			(131	)
Total								858,366			654,237			204,129

18

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(1) Non Performing Loans

							(in millions of yen)
							As of March 31, 2021 (A)			As of March 31, 2020 (B)			Increase (Decrease) (A) - (B)
Bankrupt or De facto Bankrupt								147,768			121,940			25,827
Doubtful								414,688			308,695			105,992
Special Attention								293,879			221,271			72,608
Non Performing Loans (1)								856,336			651,907			204,428
Normal								96,093,176			95,754,905			338,271
Total								96,949,512			96,406,813			542,699
Non Performing Loans / Total								0.88	%		0.67	%		0.20	%
(2) Status of Coverage of Non Performing Loans
							(in millions of yen)
							As of March 31, 2021 (A)			As of March 31, 2020 (B)			Increase (Decrease) (A) - (B)
Covered amount (2)								680,922			512,960			167,962
Allowance for credit losses								211,330			140,511			70,819
Collateral, guarantees, etc.								469,591			372,448			97,142
Coverage ratio (2) / (1)								79.51	%		78.68	%		0.82	%
(3) Coverage Ratio
	(in millions of yen)
Category	Loan amount (A)			Allowance for credit losses (B)			Covered by collateral and/ or guarantees (C)			Coverage ratio for unsecured portion (B) / [(A) - (C)]			Coverage ratio [(B) + (C)] / (A)
Bankrupt or De facto Bankrupt		147,768			20,058			127,709			100.00	%		100.00	%
		[121,940	]		[2,772	]		[119,167	]		[100.00	%]		[100.00	%]
Doubtful		414,688			121,299			210,611			59.43	%		80.03	%
		[308,695	]		[72,607	]		[168,165	]		[51.66	%]		[77.99	%]
Special Attention		293,879			69,971			131,270			43.03	%		68.47	%
		[221,271	]		[65,131	]		[85,115	]		[47.83	%]		[67.90	%]
Total		856,336			211,330			469,591			54.64	%		79.51	%
		[651,907	]		[140,511	]		[372,448	]		[50.27	%]		[78.68	%]
Note:  The upper figures are as of March 31, 2021. The lower figures with brackets are as of March 31, 2020.
(4) Classified by Industry
							(in millions of yen)
							As of March 31, 2021 (A)			As of March 31, 2020 (B)			Increase (Decrease) (A) - (B)
Domestic								512,636			439,704			72,932
Manufacturing								110,710			111,393			(682	)
Construction								7,857			8,813			(955	)
Wholesale and retail								106,348			110,391			(4,043	)
Finance and insurance								4,518			1,459			3,059
Real estate								27,985			30,171			(2,185	)
Goods rental and leasing								24,025			9,335			14,690
Services								84,135			58,405			25,729
Other industries								19,126			15,899			3,226
Consumer								127,927			93,833			34,094
Overseas								343,699			212,203			131,495
Financial institutions								2,820			—			2,820
Commercial and industrial								340,659			211,851			128,807
Other								219			351			(131	)
Total								856,336			651,907			204,428

19

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Non Performing Loans

							(in millions of yen)
							As of March 31, 2021 (A)			As of March 31, 2020 (B)			Increase (Decrease) (A) - (B)
Bankrupt or De facto Bankrupt								50			49			0
Doubtful								1,978			2,275			(297	)
Special Attention								—			—			—
Non Performing Loans (1)								2,028			2,325			(297	)
Normal								3,435,024			4,186,844			(751,819	)
Total								3,437,052			4,189,169			(752,117	)
Non Performing Loans / Total								0.05	%		0.05	%		0.00	%
(2) Status of Coverage of Non Performing Loans
							(in millions of yen)
							As of March 31, 2021 (A)			As of March 31, 2020 (B)			Increase (Decrease) (A) - (B)
Covered amount (2)								2,028			2,325			(297	)
Allowance for credit losses								—			—			—
Collateral, guarantees, etc.								2,028			2,325			(297	)
Coverage ratio (2) / (1)								100.00	%		100.00	%		—
(3) Coverage Ratio
	(in millions of yen)
Category	Loan amount (A)			Allowance for credit losses (B)			Covered by collateral and/ or guarantees (C)			Coverage ratio for unsecured portion (B) / [(A) - (C)]			Coverage ratio [(B) + (C)] / (A)
Bankrupt or De facto Bankrupt		50			—			50			—			100.00	%
		[49	]		[—	]		[49	]		[—	]		[100.00	%]
Doubtful		1,978			—			1,978			—			100.00	%
		[2,275	]		[—	]		[2,275	]		[—	]		[100.00	%]
Special Attention		—			—			—			—			—
		[—	]		[—	]		[—	]		[—	]		[—	]
Total		2,028			—			2,028			—			100.00	%
		[2,325	]		[—	]		[2,325	]		[—	]		[100.00	%]
Note:  The upper figures are as of March 31, 2021. The lower figures with brackets are as of March 31, 2020.
(4) Classified by Industry
							(in millions of yen)
							As of March 31, 2021 (A)			As of March 31, 2020 (B)			Increase (Decrease) (A) - (B)
Domestic								2,028			2,325			(297	)
Manufacturing								—			—			—
Construction								—			—			—
Wholesale and retail								—			—			—
Finance and insurance								—			—			—
Real estate								10			16			(5	)
Goods rental and leasing								—			—			—
Services								—			—			—
Other industries								—			—			—
Consumer								2,017			2,309			(291	)
Overseas								—			—			—
Financial institutions								—			—			—
Commercial and industrial								—			—			—
Other								—			—			—
Total								2,028			2,325			(297	)

20

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated: Trust Account

“Trust account” represents trust account with contracts indemnifying the principal amounts.

(1) Non Performing Loans

							(in millions of yen)
							As of March 31, 2021 (A)			As of March 31, 2020 (B)			Increase (Decrease) (A) - (B)
Bankrupt or De facto Bankrupt								—			0			(0	)
Doubtful								2			3			(1	)
Special Attention								—			—			—
Non Performing Loans (1)								2			3			(1	)
Normal								6,049			12,281			(6,232	)
Total								6,051			12,285			(6,233	)
Non Performing Loans / Total								0.03	%		0.03	%		0.00	%
(2) Status of Coverage of Non Performing Loans
							(in millions of yen)
							As of March 31, 2021 (A)			As of March 31, 2020 (B)			Increase (Decrease) (A) - (B)
Covered amount (2)								2			2			(0	)
Allowance for credit losses								—			—			—
Collateral, guarantees, etc.								2			2			(0	)
Coverage ratio (2) / (1)								100.00	%		79.42	%		20.57	%
(3) Coverage Ratio
	(in millions of yen)
Category	Loan amount (A)			Allowance for credit losses (B)			Covered by collateral and/ or guarantees (C)			Coverage ratio for unsecured portion (B) / [(A) - (C)]			Coverage ratio [(B) + (C)] / (A)
Bankrupt or De facto Bankrupt		—			—			—			—			—
		[0	]		[—	]		[0	]					[100.00	%]
Doubtful		2			—			2			—			100.00	%
		[3	]		[—	]		[2	]					[79.00	%]
Special Attention		—			—			—			—			—
		[—	]		[—	]		[—	]					[—	]
Total		2			—			2			—			100.00	%
		[3	]		[—	]		[2	]					[79.42	%]
Note: The upper figures are as of March 31, 2021. The lower figures with brackets are as of March 31, 2020.
(4) Classified by Industry
							(in millions of yen)
							As of March 31, 2021 (A)			As of March 31, 2020 (B)			Increase (Decrease) (A) - (B)
Domestic								2			3			(1	)
Manufacturing								—			—			—
Construction								—			—			—
Wholesale and retail								—			—			—
Finance and insurance								—			—			—
Real estate								—			—			—
Goods rental and leasing								—			—			—
Services								—			—			—
Other industries								—			—			—
Consumer								2			3			(1	)
Total								2			3			(1	)

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Mitsubishi UFJ Financial Group, Inc.

Overview of Non-Performing Loans

BK and TB Combined

(in billions of yen)
Self-Assessment					Coverage  ratio for  unsecured  portion	Non-Performing Loans  Based on the “FRL”	Risk-Monitored Loans
Category of Borrowers	Classification
	Non- Classification	Classification  II	Classification  III	Classification  IV
Bankrupt Borrowers	[127.7]		[19.2]	[0.7] (*1)	100.00%	i) Bankrupt or De facto Bankrupt [147.8]	Loans to bankrupt borrowers [38.6]
Substantially Bankrupt Borrowers							Non-accrual delinquent loans [514.1]
Potentially Bankrupt Borrowers	[212.5]		[204.0]		59.43%	ii) Doubtful [416.6]
Borrowers Requiring Caution (Special Attention Borrowers)	[293.8]				43.03%	iii) Special Attention [293.8]	Accruing loans contractually past due 3 months or more [14.2]
							Restructured loans [279.6]
Borrowers Requiring Caution (Other Borrowers)						iv) Normal [99,528.2]
Normal Borrowers
						Non-Performing Loans Based on the “FRL”	Risk-Monitored Loans
						i) + ii) + iii)
						858.3	846.7
						Total
						i) + ii) + iii) + iv)
						100,386.5

(*1) “Customers’ liabilities for acceptances and guarantees” in Classification IV are fully reserved.

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Mitsubishi UFJ Financial Group, Inc.

9. Progress in Disposition of Problem Assets

BK Non-consolidated

(1) Bankrupt or De facto Bankrupt and Doubtful Assets Based on the “FRL”

	(in millions of yen)
	As of March 31, 2018		As of March 31, 2019		As of March 31, 2020 (A)		As of March 31, 2021 (B)		(B) - (A)
Assets newly categorized during fiscal 2017		125,207		33,393		22,912		16,915		(5,997	)
Assets newly categorized during fiscal 2018				178,183		27,831		20,519		(7,311	)
Assets newly categorized during fiscal 2019						196,249		107,696		(88,553	)
Assets newly categorized during fiscal 2020								274,842

(2) Progress in Disposition of Problem Assets

	(in millions of yen)
	For the Fiscal Year Ended March 31, 2021
			Bankrupt or De facto Bankrupt		Doubtful
Liquidation		2,788
Reconstructive treatment		39,387
Upgrade due to reconstructive treatment		—
Loan sold to secondary market		14,327
Write-offs		21,937
Others		64,581
Collection / Repayment		44,170
Upgrade		20,411
Total		143,022		60,446		82,575
Amount in process for disposition		115,480

Note: The process for disposition consists of legal liquidation, quasi-legal liquidation, company splits to good companies and bad companies, partial direct write-offs of retail exposure to individuals and small/medium-sized companies, and trusts to The Resolution and Collection Corporation mainly for the purpose of revitalization of companies, which are scheduled to be off-balanced before their maturities.

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Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated including Trust Account

“Trust account” represents trust account with contracts indemnifying the principal amounts.

(1) Bankrupt or De facto Bankrupt and Doubtful Assets Based on the “FRL”

	(in millions of yen)
	As of March 31, 2018		As of March 31, 2019		As of March 31, 2020 (A)		As of March 31, 2021 (B)		(B) - (A)
Assets newly categorized during fiscal 2017		1,319		491		267		198		(69	)
Assets newly categorized during fiscal 2018				1,067		381		80		(300	)
Assets newly categorized during fiscal 2019						841		359		(482	)
Assets newly categorized during fiscal 2020								706

(2) Progress in Disposition of Problem Assets

	(in millions of yen)
	For the Fiscal Year Ended March 31, 2021
			Bankrupt or De facto Bankrupt		Doubtful
Liquidation		—
Reconstructive treatment		—
Upgrade due to reconstructive treatment		—
Loan sold to secondary market		—
Write-offs		6
Others		1,247
Collection / Repayment		350
Upgrade		896
Total		1,253		7		1,245
Amount in process for disposition		108

Note: The process for disposition consists of legal liquidation, quasi-legal liquidation, company splits to good companies and bad companies, partial direct write-offs of retail exposure to individuals and small/medium-sized companies, and trusts to The Resolution and Collection Corporation mainly for the purpose of revitalization of companies, which are scheduled to be off-balanced before their maturities.

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Mitsubishi UFJ Financial Group, Inc.

10. Loans Classified by Type of Industry, Domestic Consumer Loans, Domestic Loans to Small/Medium-Sized Companies and Proprietors

BK and TB Combined including Trust Accounts

(1) Loans Classified by Type of Industry

	(in millions of yen)
	As of March 31, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2020 (B)
Domestic offices (excluding loans booked at offshore markets)		69,276,436			2,700,761			66,575,675
Manufacturing		12,011,578			1,780,167			10,231,411
Agriculture, forestry, fishery, mining, quarrying of stone and gravel		172,307			(13,289	)		185,596
Construction		732,482			44,213			688,269
Utilities		2,107,394			189,609			1,917,785
Communication and information services		1,195,804			(135,530	)		1,331,334
Transport and postal activities		2,464,911			258,010			2,206,901
Wholesale and retail		6,675,282			222,607			6,452,675
Finance and insurance		8,791,847			365,248			8,426,599
Real estate		8,939,164			210,847			8,728,317
Goods rental and leasing		2,184,401			(267,320	)		2,451,721
Services		3,107,252			350,379			2,756,873
Municipal government		1,146,255			230,894			915,361
Other industries (including loans to the Japanese government)		19,747,755			(535,072	)		20,282,827
Overseas offices and loans booked at offshore markets		22,873,842			(3,249,704	)		26,123,546
Total		92,150,278			(548,942	)		92,699,221
(2) Domestic Consumer Loans
	(in millions of yen)
	As of March 31, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2020 (B)
Total domestic consumer loans		15,697,035			95,000			15,602,034
Housing loans		14,983,615			163,458			14,820,157
Residential purpose		13,155,741			214,456			12,941,284
Other		713,419			(68,457	)		781,877
(3) Domestic Loans to Small/Medium-Sized Companies and Proprietors
	(in millions of yen)
	As of March 31, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2020 (B)
Outstanding amount		39,678,154			703,868			38,974,286
% to total domestic loans		57.27	%		(1.26	)%		58.54	%

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Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(1) Loans Classified by Type of Industry

	(in millions of yen)
	As of March 31, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2020 (B)
Domestic offices (excluding loans booked at offshore markets)		66,035,273			3,593,218			62,442,054
Manufacturing		12,010,178			1,778,778			10,231,400
Agriculture, forestry, fishery, mining, quarrying of stone and gravel		172,307			(13,289	)		185,596
Construction		732,482			44,213			688,269
Utilities		2,062,394			189,609			1,872,785
Communication and information services		1,185,837			(136,069	)		1,321,906
Transport and postal activities		2,444,911			258,847			2,186,064
Wholesale and retail		6,675,282			222,607			6,452,675
Finance and insurance		7,938,695			951,489			6,987,206
Real estate		8,936,683			213,064			8,723,619
Goods rental and leasing		2,184,401			(267,320	)		2,451,721
Services		3,106,257			389,224			2,717,033
Municipal government		1,145,905			235,060			910,845
Other industries (including loans to the Japanese government)		17,439,941			(272,994	)		17,712,935
Overseas offices and loans booked at offshore markets		22,411,763			(3,404,477	)		25,816,240
Total		88,447,036			188,741			88,258,295
(2) Domestic Consumer Loans
	(in millions of yen)
	As of March 31, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2020 (B)
Total domestic consumer loans		14,805,109			193,308			14,611,801
Housing loans		14,093,440			261,202			13,832,237
Residential purpose		12,266,372			311,864			11,954,507
Other		711,669			(67,893	)		779,563
(3) Domestic Loans to Small/Medium-Sized Companies and Proprietors
	(in millions of yen)
	As of March 31, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2020 (B)
Outstanding amount		38,191,996			892,676			37,299,320
% to total domestic loans		57.83	%		(1.89	)%		59.73	%

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Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Loans Classified by Type of Industry

	(in millions of yen)
	As of March 31, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2020 (B)
Domestic offices (excluding loans booked at offshore markets)		2,827,728			(946,059	)		3,773,787
Manufacturing		—			(11	)		11
Agriculture, forestry, fishery, mining, quarrying of stone and gravel		—			—			—
Construction		—			—			—
Utilities		—			—			—
Communication and information services		9,967			539			9,428
Transport and postal activities		—			(837	)		837
Wholesale and retail		—			—			—
Finance and insurance		793,241			(571,373	)		1,364,614
Real estate		892			(1,508	)		2,400
Goods rental and leasing		—			—			—
Services		995			(38,845	)		39,840
Municipal government		—			—			—
Other industries (including loans to the Japanese government)		2,022,631			(334,024	)		2,356,655
Overseas offices and loans booked at offshore markets		462,078			154,772			307,305
Total		3,289,807			(791,286	)		4,081,093
(2) Domestic Consumer Loans
	(in millions of yen)
	As of March 31, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2020 (B)
Total domestic consumer loans		887,718			(97,068	)		984,787
Housing loans		885,970			(96,509	)		982,480
Residential purpose		885,316			(96,310	)		981,626
Other		1,747			(558	)		2,306
(3) Domestic Loans to Small/Medium-Sized Companies and Proprietors
	(in millions of yen)
	As of March 31, 2021 (A)			Increase (Decrease) (A)-(B)			As of March 31, 2020 (B)
Outstanding amount		1,228,804			(210,627	)		1,439,431
% to total domestic loans		43.45	%		5.31	%		38.14	%

27

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated: Trust Accounts

(1) Loans Classified by Type of Industry

	(in millions of yen)
	As of March 31, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2020 (B)
Domestic offices (excluding loans booked at offshore markets)		413,435			53,602			359,832
Manufacturing		1,400			1,400			—
Agriculture, forestry, fishery, mining, quarrying of stone and gravel		—			—			—
Construction		—			—			—
Utilities		45,000			—			45,000
Communication and information services		—			—			—
Transport and postal activities		20,000			—			20,000
Wholesale and retail		—			—			—
Finance and insurance		59,911			(14,868	)		74,779
Real estate		1,589			(709	)		2,298
Goods rental and leasing		—			—			—
Services		—			—			—
Municipal government		350			(4,166	)		4,516
Other industries (including loans to the Japanese government)		285,183			71,946			213,237
Overseas offices and loans booked at offshore markets		—			—			—
Total		413,435			53,602			359,832
(2) Domestic Consumer Loans
	(in millions of yen)
	As of March 31, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2020 (B)
Total domestic consumer loans		4,207			(1,238	)		5,445
Housing loans		4,204			(1,234	)		5,438
Residential purpose		4,052			(1,097	)		5,150
Other		2			(4	)		7
(3) Domestic Loans to Small/Medium-Sized Companies and Proprietors
	(in millions of yen)
	As of March 31, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2020 (B)
Outstanding amount		257,354			21,819			235,535
% to total domestic loans		62.24	%		(3.20	)%		65.45	%

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Mitsubishi UFJ Financial Group, Inc.

11. Overseas Loans

BK Consolidated excl. MUAH, KS, BDI

	(in millions of yen)
	As of March 31, 2021 (A)		Increase    (Decrease)    (A) - (B)			As of March 31, 2020 (B)
Americas		7,845,617		(1,876,963	)		9,722,581
United States of America		6,086,883		(1,820,631	)		7,907,514
Canada		738,809		137,604			601,204
Brazil		395,697		(175,600	)		571,297
Mexico		317,334		(53,939	)		371,273
Others		306,893		35,602			271,290
Asia/Oceania		10,241,345		(445,960	)		10,687,305
Hong Kong		2,099,009		(184,518	)		2,283,528
China		1,489,203		(72,360	)		1,561,564
Singapore		1,435,368		92,950			1,342,418
Australia		1,260,623		29,705			1,230,918
Indonesia		697,789		(156,731	)		854,520
India		680,567		(130,668	)		811,235
Taiwan		625,984		120,091			505,892
Malaysia		609,215		(100,525	)		709,741
South Korea		361,592		(36,579	)		398,172
New Zealand		318,477		(17,903	)		336,380
Vietnam		253,414		16,422			236,991
Others		410,098		(5,842	)		415,941
EMEA		7,294,099		(646,697	)		7,940,797
United Kingdom		2,009,520		1,237			2,008,282
Netherlands		759,189		(127,927	)		887,116
Saudi Arabia		526,345		(76,023	)		602,368
Germany		502,115		(35,667	)		537,783
France		371,440		(43,977	)		415,418
Ireland		305,351		(35,852	)		341,204
Qatar		303,206		104,851			198,355
UAE		246,009		(2,933	)		248,943
Switzerland		235,082		(58,719	)		293,801
Belgium		178,139		(66,525	)		244,664
Italy		173,539		951			172,588
Turkey		167,103		(42,364	)		209,468
Luxembourg		166,630		(95,209	)		261,839
Russia		153,648		(18,304	)		171,953
Poland		104,554		(46,993	)		151,547
Spain		103,387		(2,121	)		105,509
South Africa		101,465		(33,487	)		134,953
Others		887,368		(67,629	)		954,997
Total		25,381,062		(2,969,621	)		28,350,684

Note: MUAH, KS and BDI have the following loan balances in the consolidated financial statements.

	(in millions of yen)
	As of March 31, 2021 (A)		Increase   (Decrease)   (A) - (B)			As of March 31, 2020 (B)
MUAH		8,361,443		(1,153,997	)		9,515,440
KS		4,670,177		(186,166	)		4,856,343
BDI		885,176		(131,770	)		1,016,947

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Mitsubishi UFJ Financial Group, Inc.

12. Loans and Deposits

BK and TB Combined

	(in millions of yen)
	As of March 31, 2021 (A)		Increase   (Decrease)   (A) - (B)			As of March 31, 2020 (B)
Deposits (ending balance)		193,113,145		23,729,097			169,384,048
Deposits (average balance)		185,829,055		19,573,169			166,255,886
Loans (ending balance)		91,736,843		(602,545	)		92,339,389
Loans (average balance)		95,408,988		3,877,191			91,531,796
BK Non-consolidated
	(in millions of yen)
	As of March 31, 2021 (A)		Increase   (Decrease)   (A) - (B)			As of March 31, 2020 (B)
Deposits (ending balance)		182,239,930		23,991,366			158,248,564
Deposits (average balance)		174,690,226		20,221,916			154,468,309
Loans (ending balance)		88,447,036		188,741			88,258,295
Loans (average balance)		91,697,219		4,490,112			87,207,107
TB Non-consolidated
	(in millions of yen)
	As of March 31, 2021 (A)		Increase   (Decrease)   (A) - (B)			As of March 31, 2020 (B)
Deposits (ending balance)		10,873,215		(262,268	)		11,135,484
Deposits (average balance)		11,138,829		(648,747	)		11,787,576
Loans (ending balance)		3,289,807		(791,286	)		4,081,093
Loans (average balance)		3,711,769		(612,920	)		4,324,689

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Mitsubishi UFJ Financial Group, Inc.

13. Domestic Deposits

BK and TB Combined

	(in millions of yen)
	As of March 31, 2021 (A)		Increase   (Decrease)   (A) - (B)		As of March 31, 2020 (B)
Individuals		84,848,585		5,530,930		79,317,655
Corporations and others		80,968,030		14,382,477		66,585,553
Domestic deposits		165,816,616		19,913,407		145,903,208

Note:Amounts do not include negotiable certificates of deposit and JOM accounts.

BK Non-consolidated
	(in millions of yen)
	As of March 31, 2021 (A)		Increase   (Decrease)   (A) - (B)		As of March 31, 2020 (B)
Individuals		78,277,523		5,862,908		72,414,615
Corporations and others		78,003,387		14,262,302		63,741,084
Domestic deposits		156,280,910		20,125,210		136,155,699

Note:Amounts do not include negotiable certificates of deposit and JOM accounts.

TB Non-consolidated
	(in millions of yen)
	As of March 31, 2021 (A)		Increase   (Decrease)   (A) - (B)			As of March 31, 2020 (B)
Individuals		6,571,062		(331,977	)		6,903,040
Corporations and others		2,964,643		120,174			2,844,468
Domestic deposits		9,535,706		(211,802	)		9,747,508

Note: Amounts do not include negotiable certificates of deposit and JOM accounts.

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Mitsubishi UFJ Financial Group, Inc.

14. Status of Deferred Tax Assets

BK Non-consolidated

(1) Tax Effects of the Items Comprising Net Deferred Tax Assets

	(in billions of yen)
	As of March 31, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2020 (B)
Deferred tax assets		513.1			18.6			494.4
Allowance for credit losses		199.5			40.0			159.4
Write-down on investment securities		381.2			(22.1	)		403.3
Unrealized losses on Available-for-sale securities		3.7			(4.4	)		8.1
Reserve for retirement benefits		92.3			0.7			91.5
Reserve for contingent losses		20.0			2.6			17.4
Depreciation and Impairment losses		44.5			0.1			44.3
Devaluation on land upon merger		25.1			(0.9	)		26.1
Other		162.3			(10.1	)		172.4
Valuation allowance		(415.8	)		12.7			(428.5	)
Deferred tax liabilities		968.4			76.4			891.9
Unrealized gains on Available-for-sale securities		744.8			161.9			582.9
Net deferred gains on hedging instruments		73.6			(72.0	)		145.7
Revaluation gains on securities upon merger		52.5			(0.8	)		53.3
Gains on securities contributed to employees’ retirement benefits trust		45.4			0.2			45.2
Other		51.8			(12.8	)		64.7
Net deferred tax assets		(455.2	)		(57.7	)		(397.5	)

(2) Net operating profits before provision for general allowance for credit losses and Taxable Income

	(in billions of yen)
	FY2015			FY2016			FY2017			FY2018			FY2019			FY2020
Net operating profits before provisionfor general allowance for credit losses		888.1			666.9			554.3			388.4			395.2			388.0
Total credit costs		(103.4	)		(25.4	)		56.0			128.5			11.8			(223.3	)
Income before income taxes		884.7			632.2			580.0			767.2			(535.9	)		205.5
Reconciliation to taxable income		(113.3	)		(86.2	)		(156.0	)		(500.2	)		844.6			87.2
Taxable income		771.3			546.0			424.0			267.0			308.7			292.7

(3) Classification Based on Prior Year Operating Results as Provided in the ASBJ Guidance No.26

We are classified as “2” because we are considered to be a company showing stable financial performance.

32

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Tax Effects of the Items Comprising Net Deferred Tax Assets

	(in billions of yen)
	As of March 31, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2020 (B)
Deferred tax assets		67.0			(27.5	)		94.5
Gains on securities related to employees’ retirement benefits trust		32.8			1.6			31.2
Net deferred losses on hedging instruments		19.4			(29.3	)		48.8
Write-down on investment securities		9.2			(1.8	)		11.1
Depreciation and Impairment losses		9.1			(0.2	)		9.3
Reserve for contingent losses		4.5			(0.2	)		4.7
Other		20.1			1.0			19.1
Valuation allowance		(28.3	)		1.4			(29.8	)
Deferred tax liabilities		340.9			31.8			309.1
Unrealized gains on Available-for-sale securities		248.0			26.0			221.9
Reserve for retirement benefits		82.8			4.8			77.9
Other		10.1			0.8			9.2
Net deferred tax assets		(273.9	)		(59.3	)		(214.6	)

(2) Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses and Taxable Income

	(in billions of yen)
	FY2015			FY2016			FY2017			FY2018			FY2019			FY2020
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		193.0			181.4			162.1			144.5			142.3			132.3
Total credit costs		(0.2	)		(22.5	)		23.4			1.3			0.8			0.0
Income before income taxes		218.6			156.3			249.7			127.9			148.6			129.4
Reconciliation to taxable income		(68.1	)		1.8			(69.5	)		(79.2	)		(39.3	)		(26.6	)
Taxable income		150.4			158.1			180.2			48.7			109.3			102.8

(3) Classification Based on Prior Year Operating Results as Provided in the ASBJ Guidance No.26

We are classified as “2” because we are considered to be a company showing stable financial performance.

33

Mitsubishi UFJ Financial Group, Inc.

15. Retirement Benefits

MUFG Consolidated

(1) Benefit obligation

		(in millions of yen)
		As of     March 31, 2021     (A)			Increase (Decrease) (A) - (B)			As of   March 31, 2020   (B)
Projected benefit obligation (reserve type)	(A)		2,312,473			(22,857	)		2,335,331
Projected benefit obligation (non-reserve type)	(B)		86,007			3,923			82,084
Fair value of plan assets	(C)		3,520,144			477,068			3,043,075
Net amount recorded on the Consolidated Balance Sheet	(A) + (B) - (C)		(1,121,662	)		(496,003	)		(625,659	)
Net defined benefit liability			88,914			2,367			86,547
Net defined benefit asset			(1,210,577	)		(498,370	)		(712,206	)
(2) Net periodic cost of retirement benefits
		(in millions of yen)
		For the fiscal year ended March 31, 2021 (A)			Increase (Decrease) (A) - (B)			For the fiscal year ended March 31, 2020 (B)
Net periodic cost of retirement benefits regarding defined benefit pension plans			22,824			49,469			(26,645	)
Service cost			61,292			(3,499	)		64,791
Interest cost			25,986			(3,572	)		29,558
Expected return on plan assets			(104,306	)		5,050			(109,356	)
Amortization of unrecognized prior service cost			(4,922	)		651			(5,573	)
Amortization of unrecognized net actuarial loss			28,736			49,129			(20,393	)
Other			16,037			1,709			14,327

(3) Assumptions used in calculation of projected benefit obligation

	As of March 31, 2021
Discount rates		Domestic consolidated subsidiaries	0.00%~0.75%
		Overseas consolidated subsidiaries	0.00%~8.50%
Expected return		Domestic consolidated subsidiaries	1.50%~4.00%
		Overseas consolidated subsidiaries	0.00%~7.00%

34

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(1) Benefit obligation

		(in millions of yen)
		As of March 31, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2020 (B)
Projected benefit obligation	(A)		1,402,365			(39,875	)		1,442,240
Discount rates			(0.5% ~ 0.7	%)					(0.5% ~ 0.6	%)
Fair value of plan assets	(B)		2,095,880			312,055			1,783,825
Prepaid pension cost	(C)		391,426			28,702			362,724
Reserve for retirement benefits	(D)		6,440			776			5,664
Total amount unrecognized	(A) - (B) + (C) - (D)		(308,530	)		(324,004	)		15,474
Unrecognized net actuarial loss			(308,260	)		(326,715	)		18,455
Unrecognized prior service cost			(269	)		2,710			(2,980	)
(2) Net periodic cost
		(in millions of yen)
		For the fiscal year ended March 31, 2021 (A)			Increase (Decrease) (A) - (B)			For the fiscal year ended March 31, 2020 (B)
Net periodic cost of retirement benefits			20,834			36,845			(16,011	)
Service cost			33,264			(2,464	)		35,729
Interest cost			10,594			(53	)		10,647
Expected return on plan assets			(46,464	)		1,529			(47,993	)
Amortization of unrecognized prior service cost			(2,730	)		(900	)		(1,830	)
Amortization of unrecognized net actuarial loss			7,173			36,628			(29,455	)
Other			18,996			2,105			16,890

35

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Benefit obligation

		(in millions of yen)
		As of March 31, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2020 (B)
Projected benefit obligation	(A)		329,770			(6,878	)		336,648
Discount rates			(0.5% ~ 0.7	%)					(0.4% ~ 0.6	%)
Fair value of plan assets	(B)		727,941			114,708			613,232
Prepaid pension cost	(C)		389,911			15,491			374,419
Reserve for retirement benefits	(D)		328			(429	)		757
Total amount unrecognized	(A) - (B) + (C) - (D)		(8,587	)		(105,665	)		97,077
Unrecognized net actuarial loss			(10,370	)		(105,440	)		95,070
Unrecognized prior service cost			1,782			(225	)		2,007
(2) Net periodic cost
		(in millions of yen)
		For the fiscal year ended March 31, 2021 (A)			Increase (Decrease) (A) - (B)			For the fiscal year ended March 31, 2020 (B)
Net periodic cost of retirement benefits			(6,233	)		13,102			(19,335	)
Service cost			6,693			(152	)		6,846
Interest cost			1,891			(0	)		1,892
Expected return on plan assets			(24,642	)		2,378			(27,021	)
Amortization of unrecognized prior service cost			225			—			225
Amortization of unrecognized net actuarial loss			9,191			10,761			(1,569	)
Other			407			116			291

36

Mitsubishi UFJ Financial Group, Inc.

(Reference)

1. Financial Statements

BK Non-consolidated

(1) Non-consolidated Balance Sheets

(in millions of yen)	As of     March 31, 2020			As of     March 31, 2021
Assets:
Cash and due from banks		62,272,588			84,701,063
Call loans		593,434			468,999
Receivables under resale agreements		9,870,103			308,462
Monetary claims bought		3,824,545			3,258,939
Trading assets		6,834,573			4,895,816
Money held in trust		50,987			37,765
Securities		50,781,265			61,787,561
Loans and bills discounted		88,258,295			88,447,036
Foreign exchanges		1,438,965			1,579,671
Other assets		8,319,339			6,799,416
Tangible fixed assets		792,725			775,742
Intangible fixed assets		461,508			465,275
Prepaid pension costs		362,724			391,426
Customers’ liabilities for acceptances and guarantees		6,236,398			6,523,464
Allowance for credit losses		(308,908	)		(465,391	)
Total assets		239,788,548			259,975,251

37

Mitsubishi UFJ Financial Group, Inc.

(in millions of yen)	As of     March 31, 2020			As of     March 31, 2021
Liabilities:
Deposits		158,248,564			182,239,930
Negotiable certificates of deposit		5,301,960			6,067,653
Call money		1,206,809			182,220
Payables under repurchase agreements		13,847,974			6,058,839
Payables under securities lending transactions		19,429			—
Commercial papers		1,524,439			880,919
Trading liabilities		2,948,964			2,700,766
Borrowed money		28,952,597			36,071,586
Foreign exchanges		3,059,394			2,772,317
Bonds payable		1,854,358			1,617,008
Other liabilities		6,185,088			4,302,420
Reserve for bonuses		30,424			29,303
Reserve for bonuses to directors		144			155
Reserve for stocks payment		5,014			4,788
Reserve for retirement benefits		5,664			6,440
Reserve for loyalty award credits		1,412			1,246
Reserve for contingent losses		57,015			65,586
Deferred tax liabilities		397,510			455,256
Deferred tax liabilities for land revaluation		103,409			97,744
Acceptances and guarantees		6,236,398			6,523,464
Total liabilities		229,986,579			250,077,648
Net assets:
Capital stock		1,711,958			1,711,958
Capital surplus		3,878,275			3,878,275
Capital reserve		1,711,958			1,711,958
Other capital surplus		2,166,317			2,166,317
Retained earnings		2,932,893			2,782,616
Revenue reserve		190,044			190,044
Other retained earnings		2,742,849			2,592,572
Funds for retirement benefits		2,432			2,432
Other reserve		718,196			718,196
Earned surplus brought forward		2,022,220			1,871,943
Treasury stock		(645,700	)		(645,700	)
Total shareholders’ equity		7,877,427			7,727,150
Net unrealized gains (losses) on available-for-sale securities		1,391,751			1,812,832
Net deferred gains (losses) on hedging instruments		329,943			167,610
Land revaluation excess		202,845			190,008
Total valuation and translation adjustments		1,924,541			2,170,452
Total net assets		9,801,968			9,897,602
Total liabilities and net assets		239,788,548			259,975,251

38

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(2) Non-consolidated Statements of Income

(in millions of yen)	For the fiscal year ended March 31, 2020			For the fiscal year ended March 31, 2021
Ordinary income		3,661,200			2,635,402
Interest income		2,058,262			1,298,091
Interest on loans and bills discounted		1,350,390			901,983
Interest and dividends on securities		425,875			275,239
Fees and commissions		590,052			555,789
Trading income		12,944			108,449
Other operating income		764,142			500,926
Other ordinary income		235,798			172,144
Ordinary expenses		3,202,016			2,433,154
Interest expenses		1,240,473			451,561
Interest on deposits		463,740			133,534
Fees and commissions		184,038			163,235
Trading expenses		470			—
Other operating expenses		454,171			297,367
General and administrative expenses		1,135,275			1,183,634
Other ordinary expenses		187,587			337,356
Ordinary profits		459,184			202,247
Extraordinary gains		21,197			31,089
Extraordinary losses		1,016,308			27,753
Income (loss) before income taxes		(535,927	)		205,583
Income taxes - current		96,429			101,551
Income taxes - deferred		20,716			(40,447	)
Total taxes		117,145			61,103
Net income (loss)		(653,072	)		144,479

39

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Non-consolidated Balance Sheets

(in millions of yen)	As of     March 31, 2020			As of     March 31, 2021
Assets:
Cash and due from banks		11,162,691			12,637,769
Call loans		90,970			407,532
Receivables under resale agreements		700,967			14,182
Receivables under securities borrowing transactions		118,575			204,836
Monetary claims bought		143,684			48,438
Trading assets		587,323			59,308
Money held in trust		130,360			138,078
Securities		12,369,912			13,083,825
Loans and bills discounted		4,081,093			3,289,807
Foreign exchanges		87,154			119,636
Other assets		963,619			1,293,319
Tangible fixed assets		128,874			128,832
Intangible fixed assets		77,920			83,552
Prepaid pension costs		374,419			389,911
Customers’ liabilities for acceptances and guarantees		18,812			26,371
Allowance for credit losses		(1,462	)		(1,457	)
Total assets		31,034,919			31,923,946

40

Mitsubishi UFJ Financial Group, Inc.

(in millions of yen)	As of     March 31, 2020			As of     March 31, 2021
Liabilities:
Deposits		11,135,484			10,873,215
Negotiable certificates of deposit		2,203,473			1,894,446
Call money		—			6,738
Payables under repurchase agreements		5,511,235			4,978,918
Commercial papers		456,924			816,071
Trading liabilities		42,670			58,858
Borrowed money		1,664,830			2,031,265
Foreign exchanges		44,956			70,007
Bonds payable		418,160			216,910
Due to trust accounts		6,703,133			7,661,089
Other liabilities		549,934			757,038
Reserve for bonuses		4,763			4,813
Reserve for bonuses to directors		104			103
Reserve for stocks payment		3,765			3,284
Reserve for retirement benefits		757			328
Reserve for contingent losses		15,470			14,781
Deferred tax liabilities		214,601			273,957
Deferred tax liabilities for land revaluation		4,232			3,833
Acceptances and guarantees		18,812			26,371
Total liabilities		28,993,311			29,692,033
Net assets:
Capital stock		324,279			324,279
Capital surplus		455,970			455,970
Capital reserve		250,619			250,619
Other capital surplus		205,351			205,351
Retained earnings		1,152,423			1,210,765
Revenue reserve		73,714			73,714
Other retained earnings		1,078,709			1,137,051
Funds for retirement benefits		710			710
Other reserve		138,495			138,495
Earned surplus brought forward		939,504			997,846
Treasury stock		(299,999	)		(299,999	)
Total shareholders’ equity		1,632,673			1,691,015
Net unrealized gains (losses) on available-for-sale securities		519,790			585,976
Net deferred gains (losses) on hedging instruments		(110,579	)		(44,067	)
Land revaluation excess		(276	)		(1,010	)
Total valuation and translation adjustments		408,934			540,897
Total net assets		2,041,608			2,231,913
Total liabilities and net assets		31,034,919			31,923,946

41

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(2) Non-consolidated Statements of Income

(in millions of yen)	For the fiscal year ended March 31, 2020		For the fiscal year ended March 31, 2021
Ordinary income		704,295		568,370
Trust fees		104,361		113,809
Interest income		347,208		193,491
Interest on loans and bills discounted		39,560		21,061
Interest and dividends on securities		243,591		154,896
Fees and commissions		131,739		149,954
Trading income		9,537		393
Other operating income		59,800		50,486
Other ordinary income		51,647		60,234
Ordinary expenses		553,718		435,335
Interest expenses		234,807		63,810
Interest on deposits		28,158		5,913
Fees and commissions		36,723		49,976
Trading expenses		220		1,583
Other operating expenses		49,234		61,199
General and administrative expenses		188,533		209,275
Other ordinary expenses		44,198		49,488
Ordinary profits		150,577		133,035
Extraordinary gains		2,793		1,593
Extraordinary losses		4,696		5,172
Income before income taxes		148,674		129,456
Income taxes - current		32,019		29,773
Income taxes - deferred		3,573		3,279
Total taxes		35,593		33,052
Net income		113,081		96,403

42

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(3) Statements of Trust Assets and Liabilities

Including trust assets under service-shared co-trusteeship

(in millions of yen)	As of     March 31, 2020		As of     March 31, 2021
Assets:
Loans and bills discounted		359,832		413,435
Securities		57,931,822		59,314,971
Beneficiary rights to the trust		87,938,640		93,565,184
Securities held in custody accounts		3,798,591		3,636,243
Monetary claims		22,272,297		32,652,514
Tangible fixed assets		15,875,747		17,354,800
Intangible fixed assets		135,543		135,444
Other claims		3,759,125		3,154,313
Call loans		1,147,427		1,244,794
Due from banking account		8,980,934		10,043,198
Cash and due from banks		5,284,528		5,567,619
Total		207,484,491		227,082,519
Liabilities:
Money trusts		25,711,403		28,470,351
Pension trusts		11,700,334		12,004,133
Property formation benefit trusts		6,842		6,736
Investment trusts		92,086,729		98,512,832
Money entrusted other than money trusts		4,939,720		5,006,270
Securities trusts		6,631,349		5,949,600
Monetary claim trusts		20,301,045		30,677,531
Equipment trusts		90,563		156,727
Land and fixtures trusts		42,300		18,856
Composite trusts		45,974,200		46,279,479
Total		207,484,491		227,082,519

Note:	1.	The table shown above includes master trust assets under the service-shared co-trusteeship between TB and The Master Trust Bank of Japan, Ltd.
	2.	Trust assets and liabilities under a declaration of trust excluded from above table are 850,748 millions of yen as of March 31, 2020 and 502,487 millions of yen as of March 31, 2021.

Detailed information for “Money trust” with contracts indemnifying the principal amounts

(including trusts for which beneficiary interests are re-entrusted)

(in millions of yen)	As of      March 31, 2020		As of      March 31, 2021
Assets:
Loans and bills discounted		12,285		6,051
Securities		59,190		—
Other		6,673,143		7,821,717
Total		6,744,620		7,827,769
Liabilities:
Principal		6,744,156		7,827,463
Allowance for bad debts		36		18
Other		426		287
Total		6,744,620		7,827,769

43

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(4) Major Items

(in millions of yen)	As of     March 31, 2020		As of     March 31, 2021
Total funds		50,757,539		53,248,882
Deposits		11,135,484		10,873,215
Negotiable certificates of deposit		2,203,473		1,894,446
Money trusts		25,711,403		28,470,351
Pension trusts		11,700,334		12,004,133
Property formation benefit trusts		6,842		6,736
Loans and bills discounted		4,440,926		3,703,242
Banking account		4,081,093		3,289,807
Trust account		359,832		413,435
Investment securities		70,301,735		72,398,797

Note: The table shown above includes master trust assets under the service-shared co-trusteeship between TB and The Master Trust Bank of Japan, Ltd.

44