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 2022

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FROM THE DATE ON WHICH THIS REPORT IS FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED WITH OR FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION.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 16, 2022

Mitsubishi UFJ Financial Group, Inc.
By:	/s/ Naoki Ueda
Name:	Naoki Ueda
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, 2022

May 16, 2022

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 and Reporting, Financial Accounting Office, Financial Planning Division
	TEL 050-3613-1179
General meeting of shareholders:	June 29, 2022
Dividend payment date:	June 30, 2022
Securities report issuing date:	June 27, 2022
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, 2022

(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, 2022		6,075,887		0.8			1,537,649		45.9			1,130,840		45.5
March 31, 2021		6,025,336		(17.5	)		1,053,610		(14.7	)		777,018		47.1

(*) Comprehensive income

                March 31, 2022: 797,310 million yen     (39.8) %                 ;         March 31, 2021: 1,324,655 million yen     388.0 %

	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, 2022		88.45		88.05		6.7		0.4		25.3
March 31, 2021		60.50		60.25		4.7		0.3		17.5

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

                March 31, 2022: 441,595 million yen                                       ;       March 31, 2021: 321,761 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, 2022		373,731,910		17,988,245			4.6			1,349.52
March 31, 2021		359,473,515		17,716,257			4.7			1,308.12
(Reference) Shareholders’ equity as of     March 31, 2022: 17,023,773 million yen ;     March 31, 2021: 16,802,572 million yen (*)   “Equity-to-asset ratio” is computed under the formula shown below               (Total net assets - 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, 2022		9,635,443		(2,202,726	)		(875,972	)		110,763,205
March 31, 2021		34,904,946		(10,140,343	)		(436,071	)		102,980,711

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, 2021		—		12.50		—		12.50		25.00		321,836		41.3		2.0
ended March 31, 2022		—		13.50		—		14.50		28.00		357,188		31.7		2.1
ending March 31, 2023 (Forecast)		—		16.00		—		16.00		32.00				40.4

(*) 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, 2023 (Consolidated)

MUFG has set an earnings target of 1,000.0 billion yen of profits attributable to owners of parent for the fiscal year ending March 31, 2023. 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: Yes

(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, 2022	13,281,995,120 shares
	March 31, 2021	13,581,995,120 shares
(B) Treasury stocks:	March 31, 2022	667,296,084 shares
	March 31, 2021	737,192,810 shares
(C) Average outstanding stocks:	Fiscal year ended March 31, 2022	12,785,341,295 shares
	Fiscal year ended March 31, 2021	12,843,564,013 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	3
2. Basic Views on Selection of Accounting Standards	3
3. Consolidated Financial Statements and Notes	4
(1) Consolidated Balance Sheets	4
(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income	6
(3) Consolidated Statements of Changes in Net Assets	9
(4) Consolidated Statements of Cash Flows	11
Notes to the Consolidated Financial Statements	13
Notes on Going-Concern Assumption
Changes in Accounting Policies
Changes in Presentation of Financial Information
Additional Information
Segment Information
Per Share Information

Supplemental Information:

“Selected Financial Information under Japanese GAAP For the Fiscal Year Ended March 31, 2022”

(*) 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 16, 2022 (Monday)
Explanation for investors and analysts:	May 19, 2022 (Thursday)

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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, 2022)

Consolidated gross profits for the fiscal year ended March 31, 2022 increased 43.0 billion yen from the previous fiscal year to 3,964.0 billion yen. This was due to an increase in net interest income associated with improvement of lending spread for overseas and domestic corporate and net fees and commissions mainly due to investment product sales at domestic subsidiaries, partially offset by a decrease in net gains on debt securities due to record of losses on sales of foreign bonds during the period of rising interest rate in the United States. General and administrative expenses for the fiscal year ended March 31, 2022 increased 74.6 billion yen from the previous fiscal year to 2,747.2 billion yen. As a result, net operating profits decreased 31.6 billion yen from the previous fiscal year to 1,216.7 billion yen.

Total credit costs for the fiscal year ended March 31, 2022 decreased 184.0 billion yen from the previous fiscal year, mainly due to the reversal of allowance associated with improvement of credit quality of the portfolio and improvement of economic outlook of the United States, and the reversal of allowance for credit losses of held for sale asset associated with the decision to sell all shares of MUFG Union Bank, N.A., partly offset by credit costs of 134.9 billion yen, which is a combination of 35.2 billion yen of Allowance for credit to specific foreign borrowers and 99.6 billion yen of allowance for specific portfolio prepared for broader impact associated with the situation of Russia and Ukraine. Net gains on equity securities increased 202.3 billion yen from the previous fiscal year, mainly due to profit from sales of equity securities. Equity in earnings of equity method investees improved 119.8 billion yen from the previous fiscal year, mostly due to increase in Morgan Stanley profits. As a result, ordinary profits for the fiscal year ended March 31, 2022 increased 484.0 billion yen from the previous fiscal year to 1,537.6 billion yen. Net extraordinary losses for the fiscal year ended March 31, 2022 decreased 36.2 billion yen, mainly due to the net extra ordinary losses resulting from changing the methodology on recognition of impairment loss related to fixed assets allocation of each segment recorded. As a result, profits attributable to owners of parent for the fiscal year ended March 31, 2022 was 1,130.8 billion yen, an increase of 353.8 billion yen from the previous fiscal year.

(in billions of Japanese yen)	For the fiscal year ended March 31, 2022			For the fiscal year ended March 31, 2021*			Increase (Decrease)
Gross profits before credit costs for trust accounts		3,964.0			3,920.9			43.0
General and administrative expenses		2,747.2			2,672.5			74.6
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		1,216.7			1,248.4			(31.6	)
Total credit costs		(331.4	)		(515.5	)		184.0
Net gains (losses) on equity securities		332.6			130.2			202.3
Equity in earnings of equity method investees		441.5			321.7			119.8
Other non-recurring gains (losses)		(121.9	)		(131.3	)		9.4
Ordinary profits		1,537.6			1,053.6			484.0
Net extraordinary gains (losses)		(47.7	)		(11.5	)		(36.2	)
Total taxes		283.4			185.0			98.3
Profits attributable to non-controlling interests		75.6			79.9			(4.3	)
Profits attributable to owners of parent		1,130.8			777.0			353.8

* From FY21, expenses related to credit cards, which were previously recorded as G&A expenses, are recorded as fees and commissions expenses. The amount of retroactive adjustment in FY20 was 76.9 billion yen.

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Mitsubishi UFJ Financial Group, Inc.

(2)   Analysis of financial condition

Total assets as of March 31, 2022 increased 14,258.3 billion yen from March 31, 2021 to 373,731.9 billion yen, and total net assets as of March 31, 2022 increased 271.9 billion yen from March 31, 2021 to 17,988.2 billion yen. The increase in total net assets was mainly due to an increase of Retained earnings.

With regard to major items of assets, loans and bills discounted as of March 31, 2022 increased 3,243.1 billion yen from March 31, 2021 to 110,426.2 billion yen and securities as of March 31, 2022 increased 2,438.5 billion yen from March 31, 2021 to 79,560.5 billion yen. With regard to major items of liabilities, deposits as of March 31, 2022 increased 3,906.0 billion yen from March 31, 2021 to 215,427.2 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, 2021			As of     March 31, 2022
Assets:
Cash and due from banks		102,980,711			110,763,205
Call loans and bills bought		730,506			872,268
Receivables under resale agreements		13,942,910			12,308,310
Receivables under securities borrowing transactions		3,394,376			4,517,952
Monetary claims bought		5,982,876			6,466,822
Trading assets		20,552,367			17,704,455
Money held in trust		1,283,179			1,332,492
Securities		77,122,074			79,560,579
Loans and bills discounted		107,183,069			110,426,224
Foreign exchanges		1,915,010			2,300,859
Other assets		12,406,158			14,050,293
Tangible fixed assets		1,296,402			1,236,012
Buildings		321,965			304,935
Land		664,065			646,197
Lease assets		14,823			11,422
Construction in progress		45,881			33,273
Other tangible fixed assets		249,667			240,183
Intangible fixed assets		1,436,098			1,344,225
Software		571,905			507,629
Goodwill		273,092			271,353
Lease assets		1			1
Other intangible fixed assets		591,097			565,241
Net defined benefit assets		1,210,577			1,374,607
Deferred tax assets		137,988			213,922
Customers’ liabilities for acceptances and guarantees		9,004,749			10,481,838
Allowance for credit losses		(1,105,541	)		(1,222,162	)
Total assets		359,473,515			373,731,910

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Mitsubishi UFJ Financial Group, Inc.

(in millions of yen)	As of     March 31, 2021			As of     March 31, 2022
Liabilities:
Deposits		211,521,257			215,427,299
Negotiable certificates of deposit		8,099,119			10,938,831
Call money and bills sold		2,330,808			2,429,791
Payables under repurchase agreements		24,483,519			27,619,262
Payables under securities lending transactions		836,351			1,072,578
Commercial papers		1,810,350			2,108,531
Trading liabilities		14,002,667			12,397,702
Borrowed money		31,110,465			31,763,332
Foreign exchanges		2,105,245			2,182,400
Short-term bonds payable		1,043,001			1,316,803
Bonds payable		12,908,505			13,257,347
Due to trust accounts		11,208,570			12,811,123
Other liabilities		9,754,731			10,861,695
Reserve for bonuses		118,358			136,724
Reserve for bonuses to directors		1,816			1,866
Reserve for stocks payment		10,915			8,437
Net defined benefit liabilities		88,914			86,355
Reserve for retirement benefits to directors		872			812
Reserve for loyalty award credits		18,312			17,113
Reserve for contingent losses		183,855			232,291
Reserves under special laws		4,642			4,656
Deferred tax liabilities		1,008,650			492,451
Deferred tax liabilities for land revaluation		101,577			94,414
Acceptances and guarantees		9,004,749			10,481,838
Total liabilities		341,757,258			355,743,665
Net assets:
Capital stock		2,141,513			2,141,513
Capital surplus		977,287			770,277
Retained earnings		11,200,087			11,998,157
Treasury stock		(502,794	)		(451,288	)
Total shareholders’ equity		13,816,094			14,458,659
Net unrealized gains (losses) on available-for-sale securities		2,583,417			1,615,060
Net deferred gains (losses) on hedging instruments		131,566			(81,145	)
Land revaluation excess		149,183			140,628
Foreign currency translation adjustments		9,953			734,588
Remeasurements of defined benefit plans		163,189			193,865
Debt value adjustments of foreign subsidiaries and affiliates		(50,832	)		(37,883	)
Total accumulated other comprehensive income		2,986,478			2,565,114
Non-controlling interests		913,684			964,471
Total net assets		17,716,257			17,988,245
Total liabilities and net assets		359,473,515			373,731,910

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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, 2021		For the fiscal year ended     March 31, 2022
Ordinary income		6,025,336		6,075,887
Interest income		2,678,691		2,587,445
Interest on loans and bills discounted		1,799,506		1,654,635
Interest and dividends on securities		469,693		546,968
Interest on call loans and bills bought		5,179		4,724
Interest on receivables under resale agreements		70,331		20,461
Interest on receivables under securities borrowing transactions		9,346		3,029
Interest on deposits		55,445		59,072
Other interest income		269,188		298,551
Trust fees		140,449		144,147
Fees and commissions		1,565,535		1,729,100
Trading income		350,065		232,471
Other operating income		653,934		411,301
Other ordinary income		636,661		971,421
Gains on loans written-off		67,224		88,558
Others		569,437		882,862
Ordinary expenses		4,971,726		4,538,237
Interest expenses		773,719		543,957
Interest on deposits		281,715		187,510
Interest on negotiable certificates of deposit		43,808		19,348
Interest on call money and bills sold		844		610
Interest on payables under repurchase agreements		75,314		17,906
Interest on payables under securities lending transactions		3,193		8,440
Interest on commercial papers		10,276		3,289
Interest on borrowed money		32,227		9,974
Interest on short-term bonds payable		100		104
Interest on bonds payable		265,274		264,270
Other interest expenses		60,964		32,501
Fees and commissions		307,778		298,450
Other operating expenses		386,361		298,166
General and administrative expenses		2,709,549		2,746,840
Other ordinary expenses		794,317		650,822
Provision for allowance for credit losses		377,159		225,714
Others		417,157		425,108
Ordinary profits		1,053,610		1,537,649

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Mitsubishi UFJ Financial Group, Inc.

(in millions of yen)	For the fiscal year ended     March 31, 2021			For the fiscal year ended     March 31, 2022
Extraordinary gains		77,412			159,376
Gains on disposition of fixed assets		31,387			30,226
Gains on change in equity		38,680			64,919
Gains on transfer of businesses		—			31,021
Gains on sales of shares of affiliates		7,344			28,968
Gains on sales of shares of subsidiaries		—			4,240
Extraordinary losses		88,987			207,168
Losses on disposition of fixed assets		14,759			13,363
Losses on impairment of fixed assets		41,240			174,133
Provision for reserve for contingent liabilities from financial instruments transactions		372			14
Losses on change in equity		16,580			19,657
Losses on sales of shares of affiliates		16,033			—
Profits before income taxes		1,042,036			1,489,857
Income taxes-current		229,762			391,634
Income taxes-deferred		(44,694	)		(108,224	)
Total taxes		185,068			283,410
Profits		856,967			1,206,447
Profits attributable to non—controlling interests		79,949			75,606
Profits attributable to owners of parent		777,018			1,130,840

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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, 2021			For the fiscal year ended     March 31, 2022
Profits		856,967			1,206,447
Other comprehensive income
Net unrealized gains (losses) on available-for-sale securities		486,026			(925,323	)
Net deferred gains (losses) on hedging instruments		(56,879	)		(217,906	)
Land revaluation excess		—			1
Foreign currency translation adjustments		(148,051	)		516,390
Remeasurements of defined benefit plans		319,058			32,281
Share of other comprehensive income of associates accounted for using equity method		(132,465	)		185,420
Total other comprehensive income		467,688			(409,136	)
Comprehensive income		1,324,655			797,310
(Comprehensive income attributable to)
Comprehensive income attributable to owners of parent		1,254,959			717,398
Comprehensive income attributable to non-controlling interests		69,696			79,912

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Mitsubishi UFJ Financial Group, Inc.

(3) Consolidated Statements of Changes in Net Assets

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 affiliate							(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 affiliate																			(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

9

Mitsubishi UFJ Financial Group, Inc.

For the fiscal year ended March 31, 2022

	(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			977,287			11,200,087			(502,794	)		13,816,094			2,583,417			131,566
Cumulative effects of changes in accounting policies								(6,617	)					(6,617	)
Restated balance		2,141,513			977,287			11,193,470			(502,794	)		13,809,476			2,583,417			131,566
Changes during the period
Cash dividends								(334,710	)					(334,710	)
Profits attributable to owners of parent								1,130,840						1,130,840
Repurchase of treasury stock											(158,529	)		(158,529	)
Disposal of treasury stock					0						5,579			5,580
Retirement of treasury stock					(204,456	)					204,456			—
Reversal of land revaluation excess								8,556						8,556
Changes in subsidiaries’equity					(2,554	)								(2,554	)
Net changes of items other than shareholders’ equity																	(968,357	)		(212,712	)
Total changes during the period		—			(207,010	)		804,687			51,505			649,182			(968,357	)		(212,712	)
Balance at the end of the period		2,141,513			770,277			11,998,157			(451,288	)		14,458,659			1,615,060			(81,145	)
	(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			Non- controlling interests			Total net assets
Balance at the beginning of the period		149,183			9,953			163,189			(50,832	)		2,986,478			913,684			17,716,257
Cumulative effects of changes in accounting policies																	(14	)		(6,632	)
Restated balance		149,183			9,953			163,189			(50,832	)		2,986,478			913,669			17,709,625
Changes during the period
Cash dividends																				(334,710	)
Profits attributable to owners of parent																				1,130,840
Repurchase of treasury stock																				(158,529	)
Disposal of treasury stock																				5,580
Retirement of treasury stock																				—
Reversal of land revaluation excess																				8,556
Changes in subsidiaries’equity																				(2,554	)
Net changes of items other than shareholders’ equity		(8,554	)		724,635			30,675			12,949			(421,363	)		50,801			(370,562	)
Total changes during the period		(8,554	)		724,635			30,675			12,949			(421,363	)		50,801			278,620
Balance at the end of the period		140,628			734,588			193,865			(37,883	)		2,565,114			964,471			17,988,245

10

Mitsubishi UFJ Financial Group, Inc.

(4) Consolidated Statements of Cash Flows

(in millions of yen)	For the fiscal year     ended March 31, 2021			For the fiscal year     ended March 31, 2022
Cash flows from operating activities:
Profits before income taxes		1,042,036			1,489,857
Depreciation and amortization		338,617			345,199
Impairment losses		41,240			174,133
Amortization of goodwill		16,833			18,051
Equity in losses (gains) of equity method investees		(321,761	)		(441,595	)
Increase (decrease) in allowance for credit losses		216,270			96,652
Increase (decrease) in reserve for bonuses		8,477			15,217
Increase (decrease) in reserve for bonuses to directors		410			(18	)
Increase (decrease) in reserve for stocks payment		(383	)		(2,477	)
Decrease (increase) in net defined benefit assets		(387,415	)		(106,980	)
Increase (decrease) in net defined benefit liabilities		2,247			645
Increase (decrease) in reserve for retirement benefits to directors		(185	)		(60	)
Increase (decrease) in reserve for loyalty award credits		(12,357	)		(540	)
Increase (decrease) in reserve for contingent losses		(26,234	)		47,681
Interest income recognized on statement of income		(2,678,691	)		(2,587,445	)
Interest expenses recognized on statement of income		773,719			543,957
Losses (gains) on securities		(240,645	)		(225,395	)
Losses (gains) on money held in trust		56,796			21,347
Foreign exchange losses (gains)		(1,270,550	)		(2,788,581	)
Losses (gains) on sales of fixed assets		(16,630	)		(16,862	)
Net decrease (increase) in trading assets		(531,184	)		3,575,115
Net increase (decrease) in trading liabilities		52,686			(2,045,592	)
Adjustment of unsettled trading accounts		555,568			793,285
Net decrease (increase) in loans and bills discounted		1,092,978			(2,101,763	)
Net increase (decrease) in deposits		24,839,332			3,015,798
Net increase (decrease) in negotiable certificates of deposit		327,904			2,822,861
Net increase (decrease) in borrowed money (excluding subordinated borrowings)		6,621,372			573,366
Net decrease (increase) in call loans and bills bought and others		10,364,263			1,110,169
Net decrease (increase) in receivables under securities borrowing transactions		15,787			(977,957	)
Net increase (decrease) in call money and bills sold and others		(8,133,589	)		2,166,231
Net increase (decrease) in commercial papers		(347,748	)		288,342
Net increase (decrease) in payables under securities lending transactions		(214,910	)		227,626
Net decrease (increase) in foreign exchanges (assets)		(181,308	)		(365,896	)
Net increase (decrease) in foreign exchanges (liabilities)		(115,966	)		75,450
Net increase (decrease) in short-term bonds payable		80,706			273,801
Net increase (decrease) in issuance and redemption of unsubordinated bonds payable		(287,095	)		917,007
Net increase (decrease) in due to trust accounts		1,409,881			1,602,553
Interest income (cash basis)		2,821,239			2,657,591
Interest expenses (cash basis)		(844,633	)		(546,500	)
Others		(50,656	)		(759,464	)
Sub-total		35,016,420			9,884,813
Income taxes		(236,321	)		(300,616	)
Refund of income taxes		124,847			51,246
Net cash provided by (used in) operating activities		34,904,946			9,635,443

11

Mitsubishi UFJ Financial Group, Inc.

(in millions of yen)	For the fiscal year     ended March 31, 2021			For the fiscal year     ended March 31, 2022
Cash flows from investing activities:
Purchases of securities		(116,742,577	)		(97,893,977	)
Proceeds from sales of securities		65,188,712			60,280,489
Proceeds from redemption of securities		42,121,240			36,458,516
Payments for increase in money held in trust		(1,241,659	)		(1,165,165	)
Proceeds from decrease in money held in trust		901,330			1,110,030
Purchases of tangible fixed assets		(133,671	)		(101,275	)
Purchases of intangible fixed assets		(263,119	)		(282,728	)
Proceeds from sales of tangible fixed assets		49,226			82,256
Proceeds from sales of intangible fixed assets		8,223			1,277
Payments for transfer of businesses		—			(724,428	)
Payments for acquisition of businesses		(520	)		—
Proceeds from transfer of businesses		—			33,038
Payments for acquisition of subsidiaries’ equity affecting the scope of consolidation		(23,239	)		(1,165	)
Proceeds from sales of subsidiaries’ equity affecting the scope of consolidation		—			2,813
Others		(4,289	)		(2,409	)
Net cash provided by (used in) investing activities		(10,140,343	)		(2,202,726	)
Cash flows from financing activities:
Proceeds from subordinated borrowings		20,000			—
Repayments of subordinated borrowings		(21,000	)		—
Proceeds from issuance of subordinated bonds payable and bonds with warrants		272,742			226,091
Payments for redemption of subordinated bonds payable and bonds with warrants		(381,454	)		(789,480	)
Proceeds from issuance of common stock to non-controlling shareholders		4,856			3,569
Repayments to non-controlling shareholders		(23	)		—
Dividends paid by MUFG		(321,772	)		(334,619	)
Dividends paid by subsidiaries to non-controlling shareholders		(14,826	)		(32,622	)
Purchases of treasury stock		(13	)		(158,515	)
Proceeds from sales of treasury stock		2,143			209,855
Payments for purchases of subsidiaries’ equity not affecting the scope of consolidation		(0	)		(250	)
Proceeds from sales of subsidiaries’ equity not affecting the scope of consolidation		3,275			—
Net cash provided by (used in) financing activities		(436,071	)		(875,972	)
Effect of foreign exchange rate changes on cash and cash equivalents		316,544			1,228,889
Net increase (decrease) in cash and cash equivalents		24,645,076			7,785,634
Cash and cash equivalents at the beginning of the period		78,335,634			102,980,711
Decrease in cash and cash equivalents resulting from exclusion of subsidiaries from consolidation		—			(3,109	)
Decrease in cash and cash equivalents resulting from absorption via corporate separation		—			(30	)
Cash and cash equivalents at the end of the period		102,980,711			110,763,205

12

Mitsubishi UFJ Financial Group, Inc.

Notes to the Consolidated Financial Statements

(Notes on Going-Concern Assumption)

None.

(Changes in Accounting Policies)

  (Accounting Standard for Revenue Recognition)

Accounting Standard Board of Japan (“ASBJ”) Statement No. 29, “Accounting Standard for Revenue Recognition” (ASBJ, March 30, 2018), and ASBJ Guidance No. 30, “Implementation Guidance on Accounting Standard for Revenue Recognition” (ASBJ, March 30, 2018), are applied from the beginning of the fiscal year ended March 31, 2022. Under these accounting standards, revenue is recognized in an amount expected to be received in exchange for goods or services when control of promised goods or services is transferred to a customer. A primary change resulting from the application of these accounting standards relates to revenue from annual membership fees recorded as income from the credit card business. Such revenue was previously recognized when received from customers but is currently recognized over the period in which the services are provided.

In accordance with the transitional measures set forth in the proviso in paragraph 84 of the Accounting Standard for Revenue Recognition, the cumulative effect of retroactively applying the new accounting policy to reporting periods prior to the beginning of the fiscal year ended March 31, 2022 was recognized as adjustments to retained earnings at the beginning of the fiscal year ended March 31, 2022, and the new accounting policy is applied from the beginning of the fiscal year ended March 31, 2022 as a change in MUFG’s accounting policies. However, due to application of the method set forth in paragraph 86 of the Accounting Standard for Revenue Recognition, the new accounting policy was not retroactively applied to a contract for which substantially all of the revenue had been recognized in accordance with the previous accounting treatment prior to the beginning of the fiscal year ended March 31, 2022.

As a result, at the beginning of the fiscal year ended March 31, 2022, retained earnings decreased by ¥6,617 million. The impact on each fee and commissions income, ordinary profits, profits before income taxes and per share information for the fiscal year ended March 31, 2022 is not significant.

In accordance with the transitional measures set forth in paragraph 89-3 of the Accounting Standard for Revenue Recognition, information on breakdowns of revenues from contracts with customers for the fiscal year ended March 31, 2021 is not disclosed.

(Changes in Presentation of Financial Information)

From the beginning of the fiscal year ended March 31, 2022, expenses related to credit cards, which were previously recorded as general and administrative expenses, are recorded as fees and commissions expenses.

This reflects the change made in the presentation of expenses corresponding to income related to credit cards, which is recorded as fees and commissions income, as a result of a review of fees and commissions income that was conducted in connection with the adoption of ASBJ Statement No. 29, “Accounting Standard for Revenue Recognition” and ASBJ Guidance No. 30, “Implementation Guidance on Accounting Standard for Revenue Recognition” from the beginning of the fiscal year ended March 31, 2022, to disclose financial information in a manner that more closely reflects the actual economic situation.

In order to reflect this change in the presentation of the financial information, the consolidated financial statements for the fiscal year ended March 31, 2021, have been retroactively restated.

As a result, fees and commissions expenses of ¥230,822 million and general and administrative expenses of ¥2,786,505 million previously presented in the consolidated statement of income for the fiscal year ended March 31, 2021 have been restated, resulting in the current presentation of fees and commissions expenses of ¥307,778 million and general and administrative expenses of ¥2,709,549 million.

13

Mitsubishi UFJ Financial Group, Inc.

(Additional Information)

  (Impairment of fixed assets)

In line with the reorganization of MUFG’s business groups, in the fiscal year ended March 31, 2019, MUFG Bank, Ltd. (the “Bank”) reorganized its business units, which constitute its managerial accounting segments, on a consolidated basis. Thereafter, the Bank continued to make modifications to its managerial accounting, focusing on the allocation of operating expenses, with an aim to enhance profit and loss management for each such business unit. In order to improve efficiency and effectiveness in resource management for investments in systems and other fixed assets, which are expected to increase further in importance, the Bank has adopted for each such business unit a decision-making process for budget limit management and investments. In March 2022, the Bank allocated business infrastructure assets to each of its business units in order to establish a framework that facilitates each business unit to manage such assets more autonomously. In connection with these measures, the Bank modified its application of accounting for impairment of fixed assets. Specifically, in addition to conducting impairment test on a business location basis and on a bank-wide basis as previously done, the Bank detailed certain corporate assets, allocated some of such corporate assets to business units and conducted impairment test on a business unit basis. The allocation of such corporate assets to business units was determined based on the utilization ratio for each such asset (considering the number of employees, the number of customers, and the floor area) and other allocation criteria.

As a result of the foregoing, impairment losses were recorded on assets (mainly software and the headquarters building) of the Digital Service Business Unit, the Retail & Commercial Banking Business Unit and the Global Commercial Banking Business Unit of the Bank as the carrying amount of such assets was no longer deemed fully recoverable.

Such impairment losses were ¥127,023 million (including ¥31,500 million on buildings and ¥93,242 million on software) and were included in the total amount of impairment losses reported in the consolidated statement of income.

  (Agreement for the Sale of MUFG Union Bank, and Transfer of Certain Businesses of MUFG Union Bank)

On September 21, 2021, MUFG Americas Holdings Corporation (“MUAH”), a subsidiary of MUFG whose financial statements as of and for the twelve-month period ended December 31, 2021 have been consolidated with MUFG’s financial statements included in this report, entered into a Share Purchase Agreement with U.S. Bancorp (“USB”) to sell all of the shares in MUFG Union Bank, N.A. (“MUB”) held by MUAH. The MUB businesses that will be transferred to USB through the planned transfer of the MUB shares (“Share Transfer”) exclude the GCIB (Global Corporate & Investment Banking) business, the Global Markets business to the extent related to the GCIB business (transactions with clients and investors) that is currently run by MUB, and certain assets and liabilities, etc. that are part of shared middle and back office functions, etc. It was decided by a resolution of the Board of Directors of the Bank that such businesses, and the customer assets and liabilities, etc. related to these businesses (including related transactions with such customers), will be transferred to MUFG Bank’s U.S. branches, subsidiaries or affiliates prior to the Share Transfer for consideration to be paid in the form of cash.

I. Business Divestiture

(1) Outline of the business divestiture

(a) Name of the acquiring entity

U.S. Bancorp

(b) Description of the businesses to be divested

Retail and Commercial Banking businesses of MUB

(c) Main objectives of the business divestiture

MUFG has viewed the U.S. regional banking business as an important business for the group’s strategy. At the same time, given MUB’s current business environment, including the need for increased technology investments as part of digital transformation, a certain scale is required to maintain and strengthen MUB’s competitiveness.

Under these circumstances, MUFG concluded that transferring MUB to USB, a major U.S. bank with a strong business foundation, is the most appropriate decision that is expected to lead to providing higher quality financial services to customers and communities and unlock MUB’s potential franchise value. From the perspective of MUFG’s optimization of management resources under the current medium-term business plan, MUFG determined that the sale of MUB and the shift of focus to corporate transactions in the United States are expected to maximize shareholder value through an increase in capital efficiency.

(d) Date of the business divestiture(*)

Expected to be effective in the first half of calendar year 2022

(e) Legal form of the business divestiture

Transfer of shares for consideration to be paid in the form of cash and shares

14

Mitsubishi UFJ Financial Group, Inc.

(2) Name of the reporting segment in which the businesses to be divested are mainly included

Global Commercial Banking Business Group

II. Transaction under Common Control

(1) Overview and objectives of the business transfer

The GCIB (Global Corporate & Investment Banking) business, the Global Markets business to the extent related to the GCIB business (transactions with clients and investors) that is currently run by MUB, and certain assets and liabilities, etc. that are part of shared middle and back office functions, etc., are expected to be transferred from MUB to the Bank’s U.S. branches, subsidiaries or affiliates prior to the Share Transfer.

The MUFG group will continue to view the U.S. market as a strategically important market after the Share Transfer and, through this transaction, aims to optimize management resources with a strategic focus on corporate transactions where the MUFG group believes it can leverage its strengths.

(2) Overview of the accounting treatment to be applied

The transaction will be treated as a transaction under common control under Accounting Standard Board of Japan (“ASBJ”) Statement No. 21, “Accounting Standard for Business Combinations” (ASBJ, January 16, 2019), and ASBJ Guidance No. 10, “Implementation Guidance on Accounting Standard for Business Combinations and Accounting Standard for Business Divestitures” (ASBJ, January 16, 2019).

  (Change in the expected date of closing of the sale of MUFG Union Bank shares to U.S. Bancorp)

The Share Transfer was originally expected to be closed in the first half of calendar year 2022, subject to all required regulatory approvals and other conditions precedent. The regulatory approval process remains ongoing and, as a result, the Share Transfer is currently expected to be closed in the second half of calendar year 2022, subject to the remaining conditions precedent.

I. (d) Date of the business divestiture(*)

Expected to be effective in the second half of calendar year 2022

  (Valuation losses of a foreign subsidiary 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, 2023)

It is currently estimated that, in connection with the Share Transfer, an aggregate of approximately ¥270 billion of

valuation losses recognized by MUAH for the quarter ended March 31, 2022 mainly related to securities and loans held for sale subject to valuation primarily in accordance with Accounting Standards Codification (ASC) Topic 326, “Financial Instruments-Credit losses,” and ASC Topic 310, “Receivables,” issued by the FASB will be reflected in Other operating expenses, Other ordinary expenses and other expense items in MUFG’s consolidated financial statements as of and for the quarter ending June 30, 2022.

Any gains on sale of shares in subsidiaries resulting from the Share Transfer will be reflected in MUFG’s consolidated financial statements for the quarterly reporting period which begins immediately after the business divestiture becomes effective.(*)

  (*) The closing of the Share Transfer is subject to the approval of the relevant authorities and other conditions precedent.

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, 2022

	(in millions of yen)
	Digital Service Business Group		Retail & Commercial Banking Business Group		Japanese Corporate & Investment Banking Business Group		Global Commercial Banking Business Group		Asset Management & Investor Services Business Group		Global Corporate & Investment Banking Business Group		Total of Customer Business		Global Markets Business Group		Other			Total
Net revenue		727,040		600,553		620,578		781,422		348,940		527,229		3,605,765		427,030		27,115			4,059,910
Operating expenses		554,665		495,882		319,146		537,992		241,379		288,884		2,437,951		250,024		139,527			2,827,503
Operating profit (loss)		172,374		104,670		301,431		243,430		107,561		238,344		1,167,813		177,006		(112,412	)		1,232,407
Fixed assets		140,620		191,676		155,786		1,031		13,285		133,019		635,419		108,360		550,318			1,294,098

(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. “Fixed assets” for each reporting segment in the above table represent those related to MUFG Bank, Ltd. (the “Bank”) and Mitsubishi UFJ Trust and Banking Corporation (the “Trust Bank”). Those fixed assets and consolidation adjustments related to MUFG and its other consolidated subsidiaries, which are not allocated to reporting segments, were ¥1,286,139 million. With respect to such fixed assets not allocated to reporting segments, related expenses are allocated to each reporting segment on a reasonable basis.

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, 2022
Total operating profit of reporting segments		1,232,407
Operating profit of consolidated subsidiaries excluded from reporting segments		(383	)
Provision for general allowance for credit losses		65,436
Credit related expenses		(485,479	)
Gains on loans written-off		88,558
Net gains on equity securities and other securities		332,629
Equity in earnings of equity method investees		441,595
Others		(137,114	)
Ordinary profit in the consolidated statement of income		1,537,649

16

Mitsubishi UFJ Financial Group, Inc.

(Additional Information)

(Information on Impairment losses on fixed assets for each reporting segment)

Starting in the fiscal year ended March 31, 2022, Impairment losses on fixed assets are allocated to reporting segments.

For the Fiscal Year Ended March 31, 2022

	(in millions of yen)
	Digital Service Business Group		Retail & Commercial Banking Business Group		Japanese Corporate & Investment Banking Business Group		Global Commercial Banking Business Group		Asset Management & Investor Services Business Group		Global Corporate & Investment Banking Business Group		Total of Customer Business		Global Markets Business Group		Other		Total
Net revenue		72,090		59,332		952		3,694		857		720		137,647		755		3,358		141,761

(Notes)

Impairment losses on fixed assets related to MUFG and its consolidated subsidiaries other than those related to the Bank and the Trust Bank are not allocated to reporting segments. Such unallocated impairment losses for the current fiscal year were ¥32,372 million yen.

17

Mitsubishi UFJ Financial Group, Inc.

(Per Share Information)

	For the fiscal year ended March 31, 2022
Total equity per common share		¥1,349.51
Basic earnings per common share		¥88.44
Diluted earnings per common share		¥88.05

(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, 2022
Basic earnings per common share
Profits attributable to owners of parent	million yen	1,130,840
Profits not attributable to common shareholders	million yen	—
Profits attributable to common shareholders of parent	million yen	1,130,840
Average number of common shares during the period	thousand shares	12,785,341
Diluted earnings per common share
Adjustment to profits attributable to owners of parent	million yen	(5,050)
Adjustment related to dilutive shares of consolidated subsidiaries and others	million yen	(5,050)
Increase in common 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 - 0 million units as of December 31, 2021

2. The bases for the calculation of total equity per common share for the period indicated were as follows:

		As of March 31, 2022
Total equity	million yen	17,988,245
Deductions from total equity:	million yen	964,471
Non-controlling interests	million yen	964,471
Total equity attributable to common shares	million yen	17,023,773
Number of common shares at period end used for the calculation of total equity per common share	thousand shares	12,614,699

18

Selected Financial Information

under Japanese GAAP

For the Fiscal Year Ended March 31, 2022

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.  Loans to Be Disclosed under the Banking Act and the Financial Reconstruction Act (the “FRA”)	[ MUFG Consolidated ][ BK and TB Combined ] [ BK Non-consolidated ][ TB Non-consolidated ] [ TB Non-consolidated : Trust Account ]	14
8.  Progress in Disposition of Problem Assets	[ BK Non-consolidated ] [ TB Non-consolidated including Trust Account ]	20
9.  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 ]	22
10.  Overseas Loans	[ BK Consolidated excl. MUAH, KS, BDI ]*5*6*7	26
11.  Loans and Deposits	[ BK and TB Combined ] [ BK Non-consolidated ][ TB Non-consolidated ]	27
12.  Domestic Deposits	[ BK and TB Combined ] [ BK Non-consolidated ][ TB Non-consolidated ]	28
13.  Status of Deferred Tax Assets	[ BK Non-consolidated ][ TB Non-consolidated ]	29
14.  Retirement Benefits	[ MUFG Consolidated ] [ BK Non-consolidated ][ TB Non-consolidated ]	31
(Reference)
1.  Financial Statements	[ BK Non-consolidated ][ TB Non-consolidated ]	34

(*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, 2022 (A)			March 31, 2021 (B)			(Decrease) (A) - (B)
Gross profits		3,964,051			3,920,956			43,094
Gross profits before credit costs for trust accounts		3,964,002			3,920,956			43,045
Net interest income		2,043,648			1,905,112			138,536
Trust fees		144,147			140,449			3,698
Credit costs for trust accounts (1)		49			(0	)		49
Net fees and commissions		1,430,649			1,257,756			172,892
Net trading profits		232,471			350,065			(117,593	)
Net other operating profits		113,134			267,573			(154,438	)
Net gains (losses) on debt securities		(140,442	)		119,061			(259,504	)
General and administrative expenses		2,747,227			2,672,533			74,693
Amortization of goodwill		18,051			16,833			1,218
Net operating profits before credit costs for trust accounts, provision for general allowance for credit losses and amortization of goodwill		1,234,827			1,265,257			(30,429	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		1,216,775			1,248,423			(31,648	)
Provision for general allowance for credit losses (2)		65,436			(203,867	)		269,303
Net operating profits*		1,282,260			1,044,555			237,704
Net non-recurring gains (losses)		255,388			9,054			246,333
Credit costs (3)		(485,479	)		(378,886	)		(106,592	)
Losses on loan write-offs		(157,730	)		(188,852	)		31,122
Provision for specific allowance for credit losses		(258,640	)		(174,259	)		(84,381	)
Other credit costs		(69,108	)		(15,775	)		(53,333	)
Reversal of allowance for credit losses (4)		—			—			—
Reversal of reserve for contingent losses included in credit costs (5)		—			—			—
Gains on loans written-off (6)		88,558			67,224			21,334
Net gains (losses) on equity securities		332,629			130,273			202,356
Gains on sales of equity securities		378,040			189,957			188,083
Losses on sales of equity securities		(34,232	)		(51,585	)		17,352
Losses on write-down of equity securities		(11,178	)		(8,099	)		(3,079	)
Equity in earnings of equity method investees		441,595			321,761			119,833
Other non-recurring gains (losses)		(121,915	)		(131,317	)		9,401
Ordinary profits		1,537,649			1,053,610			484,038
Net extraordinary gains (losses)		(47,791	)		(11,574	)		(36,217	)
Net gains (losses) on disposition of fixed assets		16,862			16,628			234
Losses on impairment of fixed assets		(174,133	)		(41,240	)		(132,892	)
Net gains (losses) on change in equity		45,262			22,099			23,162
Gains on transfer of businesses		31,021			—			31,021
Net gains (losses) on sales of shares of affiliates		28,968			(8,689	)		37,657
Gains on sales of shares of subsidiaries		4,240			—			4,240
Profits before income taxes		1,489,857			1,042,036			447,821
Income taxes-current		391,634			229,762			161,871
Income taxes-deferred		(108,224	)		(44,694	)		(63,529	)
Total taxes		283,410			185,068			98,341
Profits		1,206,447			856,967			349,479
Profits attributable to non-controlling interests		75,606			79,949			(4,343	)
Profits attributable to owners of parent		1,130,840			777,018			353,822
Note:
*1.  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
*2.  From the beginning of the fiscal year ended March 31, 2022, expenses related to credit cards, which were previously recorded as general and administrative expenses, are recorded as fees and commissions expenses. Accordingly, the financial information for the fiscal year ended March 31, 2021 have been retroactively restated.
(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		(331,435	)		(515,530	)		184,094
Number of consolidated subsidiaries		252			258			(6	)
Number of affiliated companies accounted for under the equity method		53			53			—

1

Mitsubishi UFJ Financial Group, Inc.

BK and TB Combined

	(in millions of yen)
	For the fiscal year ended						Increase
	March 31, 2022 (A)			March 31, 2021 (B)			(Decrease) (A) - (B)
Gross profits		1,876,109			1,882,799			(6,690	)
Gross profits before credit costs for trust accounts		1,876,060			1,882,799			(6,739	)
Domestic gross profits		1,134,706			975,072			159,634
Net interest income		594,864			570,868			23,996
Trust fees		116,631			113,809			2,821
Credit costs for trust accounts (1)		49			(0	)		49
Net fees and commissions		352,131			339,017			13,114
Net trading profits		(12,516	)		1,868			(14,384	)
Net other operating profits		83,595			(50,490	)		134,085
Net gains (losses) on debt securities		37,650			(52,592	)		90,242
Non-domestic gross profits		741,402			907,727			(166,324	)
Net interest income		562,918			405,483			157,434
Net fees and commissions		187,861			153,515			34,346
Net trading profits		36,943			105,390			(68,447	)
Net other operating profits		(46,320	)		243,337			(289,657	)
Net gains (losses) on debt securities		(189,882	)		149,481			(339,364	)
General and administrative expenses		1,325,171			1,362,349			(37,178	)
Personnel expenses		424,863			445,240			(20,377	)
Non-personnel expenses		833,773			834,780			(1,007	)
Taxes		66,534			82,328			(15,793	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		550,889			520,449			30,439
Provision for general allowance for credit losses (2)		(1,131	)		(90,752	)		89,620
Net operating profits		549,806			429,697			120,109
Net non-recurring gains (losses)		72,862			(94,414	)		167,276
Credit costs (3)		(248,863	)		(141,707	)		(107,156	)
Reversal of allowance for credit losses (4)		199			8			191
Reversal of reserve for contingent losses included in credit costs (5)		—			95			(95	)
Gains on loans written-off (6)		15,862			9,078			6,783
Net gains (losses) on equity securities		321,023			123,057			197,965
Gains on sales of equity securities		365,967			180,515			185,452
Losses on sales of equity securities		(34,252	)		(50,947	)		16,694
Losses on write-down of equity securities		(10,691	)		(6,510	)		(4,181	)
Other non-recurring gains (losses)		(15,358	)		(84,947	)		69,588
Ordinary profits		622,668			335,282			287,386
Net extraordinary gains (losses)		(125,864	)		(243	)		(125,620	)
Net gains (losses) on disposition of fixed assets		15,606			17,670			(2,064	)
Losses on impairment of fixed assets		(141,761	)		(18,306	)		(123,455	)
Losses on sales of shares of affiliates		—			(1,978	)		1,978
Income before income taxes		496,804			335,039			161,765
Income taxes-current		241,069			131,325			109,744
Income taxes-deferred		(92,493	)		(37,168	)		(55,325	)
Total taxes		148,576			94,156			54,419
Net income		348,228			240,882			107,345
(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		(233,884	)		(223,277	)		(10,606	)
Credit costs for trust accounts		49			(0	)		49
Provision for general allowance for credit losses		(933	)		(90,509	)		89,575
Provision for special allowance for credit losses		(167,246	)		(85,316	)		(81,929	)
Allowance for credit to specific foreign borrowers		(36,803	)		(374	)		(36,429	)
Losses on loans write-offs		(18,113	)		(36,039	)		17,926
Provision for contingent losses included in credit costs		(20,812	)		(5,700	)		(15,112	)
Gains on loans written-off		15,862			9,078			6,783
Losses on sales of other loans, etc.		(5,886	)		(14,414	)		8,528
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities		703,121			423,560			279,561
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		668,396			438,141			230,254

2

Mitsubishi UFJ Financial Group, Inc.

BK Consolidated

	(in millions of yen)
	For the fiscal year ended						Increase
	March 31, 2022 (A)			March 31, 2021 (B)			(Decrease) (A) - (B)
Gross profits		2,696,605			2,698,690			(2,084	)
Net interest income		1,749,480			1,598,960			150,519
Trust fees		11,981			12,249			(268	)
Net fees and commissions		739,697			664,345			75,351
Net trading profits		79,596			163,959			(84,362	)
Net other operating profits		115,850			259,176			(143,325	)
Net gains (losses) on debt securities		(103,259	)		134,431			(237,691	)
General and administrative expenses		1,876,124			1,848,548			27,575
Amortization of goodwill		6,550			6,049			500
Net operating profits before provision for general allowance for credit losses and amortization of goodwill		827,031			856,192			(29,160	)
Net operating profits before provision for general allowance for credit losses		820,481			850,142			(29,660	)
Provision for general allowance for credit losses (1)		64,123			(209,101	)		273,225
Net operating profits*		884,605			641,040			243,565
Net non-recurring gains (losses)		(59,766	)		(210,152	)		150,386
Credit costs (2)		(393,589	)		(286,177	)		(107,411	)
Losses on loan write-offs		(82,069	)		(110,545	)		28,475
Provision for specific allowance for credit losses		(244,792	)		(159,862	)		(84,930	)
Other credit costs		(66,726	)		(15,770	)		(50,956	)
Reversal of allowance for credit losses (3)		—			—			—
Reversal of reserve for contingent losses included in credit costs (4)		—			—			—
Gains on loans written-off (5)		64,283			44,649			19,633
Net gains (losses) on equity securities		277,073			86,956			190,116
Gains on sales of equity securities		315,451			131,889			183,562
Losses on sales of equity securities		(28,576	)		(38,399	)		9,823
Losses on write-down of equity securities		(9,801	)		(6,532	)		(3,268	)
Equity in earnings of equity method investees		25,038			19,130			5,908
Other non-recurring gains (losses)		(32,573	)		(74,712	)		42,138
Ordinary profits		824,838			430,887			393,951
Net extraordinary gains (losses)		(82,555	)		(6,524	)		(76,031	)
Net gains (losses) on disposition of fixed assets		15,768			16,947			(1,178	)
Losses on impairment of fixed assets		(162,686	)		(23,472	)		(139,214	)
Gains on sales of shares of affiliates		28,968			—			28,968
Gains on transfer of businesses		22,702			—			22,702
Gains on change in equity		8,395			—			8,395
Gains on sales of shares of subsidiaries		4,295			—			4,295
Profits before income taxes		742,283			424,362			317,920
Income taxes-current		286,737			178,172			108,565
Income taxes-deferred		(82,449	)		(81,769	)		(679	)
Total taxes		204,288			96,402			107,885
Profits		537,994			327,960			210,034
Profits attributable to non-controlling interests		34,993			20,198			14,795
Profits attributable to owners of parent		503,001			307,761			195,239
Note:
* Netoperating 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)		(265,182	)		(450,629	)		185,447
Number of consolidated subsidiaries		115			122			(7	)
Number of affiliated companies accounted for under the equity method		46			44			2

3

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

	(in millions of yen)
	For the fiscal year ended						Increase
	March 31, 2022 (A)			March 31, 2021 (B)			(Decrease) (A) - (B)
Gross profits		1,509,738			1,551,105			(41,366	)
Domestic gross profits		848,134			710,312			137,821
Net interest income		551,479			531,982			19,497
Net fees and commissions		243,311			242,348			962
Net trading profits		1,009			3,453			(2,443	)
Net other operating profits		52,333			(67,472	)		119,806
Net gains (losses) on debt securities		36,938			(64,047	)		100,986
Non-domestic gross profits		661,604			840,792			(179,188	)
Net interest income		433,495			314,559			118,936
Net fees and commissions		185,870			150,205			35,664
Net trading profits		48,236			104,996			(56,759	)
Net other operating profits		(5,997	)		271,031			(277,029	)
Net gains (losses) on debt securities		(149,035	)		180,690			(329,725	)
General and administrative expenses		1,135,332			1,163,040			(27,708	)
Personnel expenses		363,197			380,442			(17,245	)
Non-personnel expenses		712,553			710,069			2,484
Amortization of goodwill		1,583			1,566			16
Taxes		59,581			72,529			(12,947	)
Net operating profits before provision for general allowance for credit losses and amortization of goodwill		375,989			389,631			(13,641	)
Net operating profits before provision for general allowance for credit losses		374,406			388,064			(13,657	)
Provision for general allowance for credit losses (1)		(1,131	)		(90,752	)		89,620
Net operating profits		373,274			297,311			75,963
Net non-recurring gains (losses)		33,782			(95,064	)		128,846
Credit costs (2)		(248,736	)		(141,702	)		(107,034	)
Reversal of allowance for credit losses (3)		—			—			—
Reversal of reserve for contingent losses included in credit costs (4)		—			—			—
Gains on loans written-off (5)		15,841			9,078			6,763
Net gains (losses) on equity securities		270,555			84,019			186,535
Gains on sales of equity securities		308,758			125,788			182,969
Losses on sales of equity securities		(28,394	)		(36,885	)		8,490
Losses on write-down of equity securities		(9,809	)		(4,884	)		(4,925	)
Other non-recurring gains (losses)		(3,877	)		(46,460	)		42,582
Ordinary profits		407,057			202,247			204,810
Net extraordinary gains (losses)		(120,858	)		3,336			(124,195	)
Net gains (losses) on disposition of fixed assets		14,882			17,719			(2,836	)
Losses on impairment of fixed assets		(135,697	)		(16,754	)		(118,943	)
Income before income taxes		286,198			205,583			80,614
Income taxes-current		190,928			101,551			89,377
Income taxes-deferred		(93,074	)		(40,447	)		(52,626	)
Total taxes		97,854			61,103			36,750
Net income		188,344			144,479			43,864
(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)		(234,026	)		(223,376	)		(10,650	)
Provision for general allowance for credit losses		(1,131	)		(90,752	)		89,620
Provision for special allowance for credit losses		(167,247	)		(85,082	)		(82,165	)
Allowance for credit to specific foreign borrowers		(36,803	)		(374	)		(36,429	)
Losses on loans write-off		(18,113	)		(36,034	)		17,920
Provision for contingent losses included in credit costs		(20,685	)		(5,796	)		(14,889	)
Gains on loans written-off		15,841			9,078			6,763
Losses on sales of other loans, etc.		(5,886	)		(14,414	)		8,528
Net operating profits before provision for general allowance for credit losses, excluding net gains (losses) on debt securities		486,503			271,421			215,081
Net operating profits before provision for general allowance for credit losses, excluding net gains (losses) on debt securities and investment trusts cancellation		443,081			275,955			167,125

4

Mitsubishi UFJ Financial Group, Inc.

TB Consolidated

		(in millions of yen)
		For the fiscal year ended						Increase
		March 31, 2022 (A)			March 31, 2021 (B)			(Decrease) (A) - (B)
Gross profits			585,295			519,511			65,783
Gross profits before credit costs for trust accounts			585,246			519,511			65,734
Trust fees			132,557			128,566			3,991
Trust fees before credit costs for trust accounts			132,508			128,566			3,942
Money trusts fees (Jointly operated designated money trusts before credit costs for trust account)			17,158			21,434			(4,276	)
Other trust fees			115,350			107,131			8,218
Credit costs for trust accounts (1)			49			(0	)		49
Net interest income			137,165			116,540			20,624
Net fees and commissions			329,845			268,576			61,269
Net trading profits			(20,816	)		5,297			(26,114	)
Net other operating profits			6,542			529			6,012
Net gains (losses) on debt securities			(39,699	)		(19,973	)		(19,725	)
General and administrative expenses			384,299			365,112			19,187
Amortization of goodwill			11,498			10,780			718
Net operating profits before credit costs for trust accounts, provision for general allowance for credit losses and amortization of goodwill			212,444			165,179			47,265
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses			200,946			154,399			46,546
Provision for general allowance for credit losses (2)			—			—			—
Net operating profits*			200,995			154,399			46,596
Net non-recurring gains (losses)			37,545			2,995			34,550
Credit costs (3)			(277	)		(23	)		(253	)
Losses on loan write-offs			(18	)		(25	)		6
Provision for specific allowance for credit losses			—			—			—
Other credit costs			(259	)		1			(260	)
Reversal of allowance for credit losses (4)			220			66			154
Reversal of reserve for contingent losses included in credit costs (5)			—			—			—
Gains on loans written-off (6)			34			13			21
Net gains (losses) on equity securities			50,507			39,187			11,320
Gains on sales of equity securities			57,218			54,726			2,492
Losses on sales of equity securities			(5,858	)		(14,062	)		8,203
Losses on write-down of equity securities			(852	)		(1,477	)		624
Equity in earnings of equity method investees			1,600			4,577			(2,977	)
Other non-recurring gains (losses)			(14,540	)		(40,825	)		26,284
Ordinary profits			238,541			157,394			81,146
Net extraordinary gains (losses)			(5,792	)		6,260			(12,052	)
Net gains (losses) on disposition of fixed assets			513			468			45
Losses on impairment of fixed assets			(6,306	)		(1,552	)		(4,754	)
Gains on sales of shares of affiliates			—			7,344			(7,344	)
Profits before income taxes			232,748			163,654			69,093
Income taxes-current			69,706			43,333			26,372
Income taxes-deferred			(1,864	)		1,986			(3,851	)
Total taxes			67,842			45,320			22,521
Profits	��		164,906			118,334			46,572
Profits attributable to non-controlling interests			561			399			161
Profits attributable to owners of parent			164,345			117,934			46,410
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)			27			55			(28	)
Number of consolidated subsidiaries			107			105			2
Number of affiliated companies accounted for under the equity method			4			5			(1	)
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			202,700			154,114			48,586
Profits attributable to owners of parent			165,527			117,615			47,911
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, 2022 (A)			March 31, 2021 (B)			(Decrease) (A) - (B)
Gross profits		366,370			331,694			34,675
Gross profits before credit costs for trust accounts		366,321			331,694			34,626
Domestic gross profits		286,572			264,760			21,812
Trust fees		116,631			113,809			2,821
Trust fees before credit costs for trust accounts		116,582			113,809			2,772
Money trusts fees (Jointly operated designated money trusts before credit costs for trust account)		17,158			21,434			(4,276	)
Other trust fees		99,424			92,375			7,049
Credit costs for trust accounts (1)		49			(0	)		49
Net interest income		43,384			38,885			4,499
Net fees and commissions		108,820			96,668			12,152
Net trading profits		(13,525	)		(1,584	)		(11,940	)
Net other operating profits		31,261			16,981			14,279
Net gains (losses) on debt securities		711			11,455			(10,743	)
Non-domestic gross profits		79,798			66,934			12,863
Net interest income		129,423			90,924			38,498
Net fees and commissions		1,990			3,309			(1,318	)
Net trading profits		(11,293	)		394			(11,687	)
Net other operating profits		(40,322	)		(27,694	)		(12,628	)
Net gains (losses) on debt securities		(40,847	)		(31,208	)		(9,638	)
General and administrative expenses		189,838			199,309			(9,470	)
Personnel expenses		61,665			64,798			(3,132	)
Non-personnel expenses		121,220			124,711			(3,491	)
Taxes		6,953			9,799			(2,846	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		176,482			132,385			44,096
Provision for general allowance for credit losses (2)		—			—			—
Net operating profits		176,531			132,385			44,146
Net non-recurring gains (losses)		39,079			649			38,430
Credit costs (3)		(127	)		(5	)		(122	)
Reversal of allowance for credit losses (4)		199			8			191
Reversal of reserve for contingent losses included in credit costs (5)		—			95			(95	)
Gains on loans written-off (6)		20			0			20
Net gains (losses) on equity securities		50,468			39,038			11,429
Gains on sales of equity securities		57,209			54,726			2,482
Losses on sales of equity securities		(5,858	)		(14,062	)		8,203
Losses on write-down of equity securities		(882	)		(1,625	)		743
Other non-recurring gains (losses)		(11,480	)		(38,486	)		27,006
Ordinary profits		215,611			133,035			82,576
Net extraordinary gains (losses)		(5,005	)		(3,579	)		(1,425	)
Net gains (losses) on disposition of fixed assets		723			(48	)		772
Losses on impairment of fixed assets		(6,063	)		(1,552	)		(4,511	)
Losses on sales of shares of affiliates		—			(1,978	)		1,978
Income before income taxes		210,606			129,456			81,150
Income taxes-current		50,141			29,773			20,367
Income taxes-deferred		580			3,279			(2,698	)
Total taxes		50,721			33,052			17,668
Net income		159,884			96,403			63,481
(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		141			98			43
Credit costs for trust accounts		49			(0	)		49
Provision for general allowance for credit losses		197			242			(45	)
Provision for special allowance for credit losses		1			(234	)		236
Allowance for credit to specific foreign borrowers		—			—			—
Losses on loans write-offs		—			(5	)		5
Provision for contingent losses included in credit costs		(127	)		95			(223	)
Gains on loans written-off		20			0			20
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		216,618			152,138			64,479
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		225,314			162,185			63,129

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, 2022 (A)		Increase (Decrease) (A) - (B)			For the fiscal year ended March 31, 2021 (B)
Total average interest rate on interest-earning assets (a)		0.41		0.00			0.41
Average interest rate on loans and bills discounted (b)		0.74		0.02			0.72
Average interest rate on securities		0.27		0.00			0.27
Total average interest rate on interest-bearing liabilities (c) <including general and administrative expenses>		0.35		(0.05	)		0.40
Average interest rate on deposits and NCD (d)		0.00		(0.00	)		0.00
Average interest rate on other liabilities		0.09		(0.02	)		0.12
Overall interest rate spread (a)-(c)		0.05		0.05			0.00
Interest rate spread (b)-(d)		0.74		0.02			0.72
(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted (e)		0.76		0.01			0.74
Interest rate spread (e)-(d)		0.76		0.01			0.74
TB Non-consolidated
	(percentage per annum)
(Domestic business segment)	For the fiscal year ended March 31, 2022 (A)		Increase     (Decrease)     (A) - (B)			For the fiscal year ended March 31, 2021 (B)
Total average interest rate on interest-earning assets (a)		0.44		0.05			0.39
Average interest rate on loans and bills discounted (b)		0.37		0.04			0.33
Average interest rate on securities		1.15		(0.05	)		1.21
Total average interest rate on interest-bearing liabilities (c)		0.09		0.01			0.08
Average interest rate on deposits and NCD (d)		0.02		(0.00	)		0.02
Overall interest rate spread (a)-(c)		0.34		0.04			0.30
Interest rate spread (b)-(d)		0.35		0.04			0.30
(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted (e)		0.70		0.06			0.64
Interest rate spread (e)-(d)		0.68		0.06			0.61
BK and TB Combined
	(percentage per annum)
(Domestic business segment)	For the fiscal year ended March 31, 2022 (A)		Increase (Decrease) (A) - (B)			For the fiscal year ended March 31, 2021 (B)
Average interest rate on loans and bills discounted (a)		0.73		0.02			0.70
Average interest rate on deposits and NCD (b)		0.00		(0.00	)		0.00
Interest rate spread (a)-(b)		0.73		0.02			0.70
(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted (c)		0.76		0.02			0.74
Interest rate spread (c)-(b)		0.76		0.02			0.74

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, 2022
	within 1 year		1 year to 5 years		over 5 years		Total
Receive-fix/pay-floater		1,786.1		5,865.3		10,190.2		17,841.7
Receive-floater/pay-fix		529.5		6,055.7		2,942.5		9,527.7
Receive-floater/pay-floater		260.0		—		—		260.0
Receive-fix/pay-fix		—		—		—		—
Total		2,575.6		11,921.1		13,132.7		27,629.5
BK Consolidated
	(in billions of yen)
	As of March 31, 2022
	within 1 year		1 year to 5 years		over 5 years		Total
Receive-fix/pay-floater		1,562.3		5,482.2		10,064.0		17,108.6
Receive-floater/pay-fix		269.5		4,824.7		1,078.5		6,172.8
Receive-floater/pay-floater		—		—		—		—
Receive-fix/pay-fix		—		—		—		—
Total		1,831.8		10,306.9		11,142.5		23,281.4
TB Consolidated
	(in billions of yen)
	As of March 31, 2022
	within 1 year		1 year to 5 years		over 5 years		Total
Receive-fix/pay-floater		223.7		293.6		100.9		618.4
Receive-floater/pay-fix		252.5		1,220.6		1,849.6		3,322.8
Receive-floater/pay-floater		260.0		—		—		260.0
Receive-fix/pay-fix		—		—		—		—
Total		736.3		1,514.3		1,950.6		4,201.3

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, 2022									As of March 31, 2021
	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		4,595,108		14,236			29,136		14,899		3,903,764		35,380			50,465		15,085
Domestic bonds		1,983,383		8,946			13,695		4,748		1,100,447		23,032			23,032		—
Government bonds		1,748,029		10,167			13,689		3,521		1,100,447		23,032			23,032		—
Municipal bonds		175,071		(1,111	)		4		1,115		—		—			—		—
Short-term corporate bonds		—		—			—		—		—		—			—		—
Corporate bonds		60,283		(110	)		1		111		—		—			—		—
Other		2,611,724		5,290			15,441		10,151		2,803,317		12,347			27,432		15,085
Foreign bonds		234,652		(8,728	)		49		8,777		756,657		22,902			25,711		2,808
Other		2,377,072		14,019			15,392		1,373		2,046,659		(10,555	)		1,721		12,277
	(in millions of yen)
	As of March 31, 2022									As of March 31, 2021
	Amount on consolidated balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on consolidated balance sheet		Unrealized gains (losses)			Gains		Losses
Available-for-sale securities		74,909,679		2,391,884			3,617,882		1,225,998		73,892,007		3,749,919			4,227,901		477,981
Domestic equity securities		4,613,704		2,914,100			2,960,076		45,975		5,216,386		3,350,537			3,390,250		39,712
Domestic bonds		40,433,641		(61,811	)		87,345		149,157		40,552,270		122,506			167,887		45,381
Government bonds		31,411,854		(55,402	)		64,264		119,666		32,344,709		86,944			123,397		36,452
Municipal bonds		4,146,145		(8,315	)		6,671		14,987		3,731,515		12,310			15,124		2,814
Short-term corporate bonds		1,010,637		29			48		18		564,097		26			31		4
Corporate bonds		3,865,004		1,876			16,361		14,485		3,911,947		23,225			29,334		6,109
Other		29,862,332		(460,404	)		570,460		1,030,865		28,123,350		276,874			669,762		392,888
Foreign equity securities		218,599		27,791			49,635		21,844		86,025		21,102			21,104		1
Foreign bonds		22,030,527		(852,866	)		76,676		929,542		21,236,699		103,001			377,998		274,996
Other		7,613,205		364,670			444,148		79,478		6,800,625		152,770			270,659		117,889
Redemption schedule of Available-for-sale securities with maturities and debt securities being held to maturity
	(in millions of yen)
	As of March 31, 2022									As of March 31, 2021
	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		22,545,812		9,629,952			6,249,021		3,992,239		23,813,598		6,929,239			6,909,513		4,000,366
Government bonds		21,026,975		6,019,462			3,549,886		2,563,559		22,879,850		4,097,191			3,880,019		2,588,095
Municipal bonds		154,954		2,033,951			2,132,310		—		69,592		1,390,238			2,271,684		—
Short-term corporate bonds		1,010,637		—			—		—		564,097		—			—		—
Corporate bonds		353,245		1,576,538			566,824		1,428,679		300,057		1,441,808			757,809		1,412,271
Other		3,864,253		6,519,765			7,914,092		10,070,686		3,260,028		8,703,402			6,630,163		9,452,219
Foreign equity securities		8,664		23,807			—		—		—		—			—		—
Foreign bonds		2,566,945		5,181,663			6,068,331		8,448,239		2,549,349		7,085,913			5,290,960		7,067,133
Other		1,288,643		1,314,294			1,845,760		1,622,446		710,678		1,617,489			1,339,203		2,385,086
Total		26,410,066		16,149,717			14,163,113		14,062,925		27,073,626		15,632,642			13,539,677		13,452,586

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, 2021
	Amount on balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on balance sheet		Unrealized gains (losses)			Gains		Losses
Debt securities being held to maturity		2,728,406		297			15,131		14,833		1,785,106		14,751			23,032		8,281
Stocks of subsidiaries and affiliates		625,594		535,950			537,751		1,800		625,594		527,522			527,966		443
	(in millions of yen)
	As of March 31, 2022									As of March 31, 2021
	Amount on balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on balance sheet		Unrealized gains (losses)			Gains		Losses
Available-for-sale securities		55,874,928		1,904,848			2,746,330		841,482		57,463,835		2,711,253			3,055,469		344,216
Domestic equity securities		3,855,125		2,380,640			2,418,512		37,872		4,320,383		2,703,898			2,739,050		35,151
Domestic bonds		37,547,364		(42,152	)		85,177		127,330		38,401,935		119,605			157,408		37,803
Other		14,472,439		(433,638	)		242,640		676,279		14,741,516		(112,250	)		159,010		271,261
Foreign equity securities		165,955		18,877			40,706		21,829		61,701		14,126			14,128		1
Foreign bonds		9,852,226		(581,375	)		5,121		586,497		11,001,832		(179,648	)		28,372		208,020
Other		4,454,257		128,859			196,812		67,953		3,677,982		53,270			116,509		63,238
Redemption schedule of Available-for-sale securities with maturities and debt securities being held to maturity
	(in millions of yen)
	As of March 31, 2022									As of March 31, 2021
	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		21,487,517		9,420,731			5,355,684		3,266,814		22,940,204		6,720,882			6,606,103		3,235,193
Government bonds		20,987,225		5,953,200			2,828,608		1,960,988		22,571,678		3,986,589			3,629,529		1,928,989
Municipal bonds		154,954		1,980,386			1,987,686		—		69,592		1,381,708			2,254,941		—
Short-term corporate bonds		—		—			—		—		—		—			—		—
Corporate bonds		345,337		1,487,145			539,389		1,305,825		298,932		1,352,583			721,632		1,306,203
Other		2,832,704		2,237,751			3,226,076		5,019,375		2,293,657		5,147,155			2,187,294		4,439,400
Foreign equity securities		—		12,204			—		—		—		—			—		—
Foreign bonds		1,663,915		1,324,385			2,529,851		4,568,726		1,766,311		3,859,156			1,647,742		3,728,622
Other		1,168,788		901,161			696,224		450,648		527,345		1,287,999			539,551		710,778
Total		24,320,221		11,658,483			8,581,760		8,286,190		25,233,861		11,868,037			8,793,397		7,674,593

10

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

The tables include 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, 2022									As of March 31, 2021
	Amount on balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on balance sheet		Unrealized gains (losses)			Gains		Losses
Debt securities being heldto maturity		1,770,646		10,587			10,653		66		1,259,698		(1,968	)		1,705		3,673
Stocks of subsidiaries and affiliates		68,203		4,512			4,722		210		67,814		2,389			2,760		371
	(in millions of yen)
	As of March 31, 2022									As of March 31, 2021
	Amount on balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on balance sheet		Unrealized gains (losses)			Gains		Losses
Available-for-sale securities		12,685,391		471,160			758,386		287,225		11,016,988		853,279			974,526		121,247
Domestic equity securities		790,399		477,909			488,348		10,439		939,291		595,246			603,069		7,823
Domestic bonds		2,852,749		(19,783	)		2,166		21,950		2,136,137		2,797			10,478		7,680
Other		9,042,242		13,035			267,870		254,835		7,941,559		255,235			360,979		105,743
Foreign equity securities		63		46			46		—		56		41			41		—
Foreign bonds		6,631,313		(211,307	)		32,230		243,537		6,262,308		166,399			218,733		52,333
Other		2,410,865		224,295			235,593		11,298		1,679,194		88,794			142,204		53,409
Redemption schedule of Available-for-sale securities with maturities and debt securities being held to maturity
	(in millions of yen)
	As of March 31, 2022									As of March 31, 2021
	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		1,032,852		203,174			891,297		725,424		861,637		205,915			303,410		765,173
Government bonds		14,307		60,216			721,277		602,570		286,457		110,602			250,490		659,105
Municipal bonds		—		53,565			144,623		—		—		8,530			16,743		—
Short-term corporate bonds		1,010,637		—			—		—		564,097		—			—		—
Corporate bonds		7,908		89,392			25,396		122,854		11,082		86,782			36,176		106,068
Other		305,151		2,114,693			3,214,312		3,112,766		213,530		1,784,299			2,915,787		2,885,206
Foreign equity securities		—		—			—		—		—		—			—		—
Foreign bonds		304,884		1,934,510			3,145,175		3,017,388		209,512		1,672,427			2,824,901		2,815,165
Other		266		180,182			69,136		95,378		4,018		111,871			90,886		70,040
Total		1,338,004		2,317,867			4,105,610		3,838,191		1,075,168		1,990,214			3,219,197		3,650,379

11

Mitsubishi UFJ Financial Group, Inc.

5. ROE

MUFG Consolidated

	(%)
	For the fiscal year ended March 31, 2022 (A)		Increase (Decrease) (A) - (B)		For the fiscal year ended March 31, 2021 (B)
ROE		7.79		2.16		5.63

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, 2022 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)			As of September 30, 2021
(1)   Total capital ratio (4)/(7)		14.29	%		(2.02	)%		16.31	%		17.14	%
(2)   Tier 1 capital ratio (5)/(7)		12.38	%		(1.57	)%		13.96	%		14.96	%
(3)   Common Equity Tier 1 capital ratio (6)/(7)		11.06	%		(1.26	)%		12.33	%		13.29	%
(4)   Total capital		17,858.6			(810.8	)		18,669.5			19,232.7
(5)   Tier 1 capital		15,476.2			(506.4	)		15,982.7			16,789.6
(6)   Common Equity Tier 1 capital		13,823.9			(289.8	)		14,113.7			14,917.0
(7)   Risk weighted assets		124,914.2			10,494.8			114,419.3			112,191.7
(8)   Required Capital (7)×8%		9,993.1			839.5			9,153.5			8,975.3
BK Consolidated	(in billions of yen)
	As of March 31, 2022 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)			As of September 30, 2021
(1)   Total capital ratio (4)/(7)		12.94	%		(2.10	)%		15.04	%		15.81	%
(2)   Tier 1 capital ratio (5)/(7)		11.11	%		(1.64	)%		12.76	%		13.69	%
(3)   Common Equity Tier 1 capital ratio (6)/(7)		9.86	%		(1.30	)%		11.17	%		12.05	%
(4)   Total capital		14,076.8			(553.5	)		14,630.4			14,915.9
(5)   Tier 1 capital		12,092.1			(319.1	)		12,411.3			12,920.8
(6)   Common Equity Tier 1 capital		10,728.5			(136.7	)		10,865.3			11,374.1
(7)   Risk weighted assets		108,752.8			11,513.4			97,239.3			94,314.1
(8)   Required Capital (7)×8%		8,700.2			921.0			7,779.1			7,545.1
TB Consolidated	(in billions of yen)
	As of March 31, 2022 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)			As of September 30, 2021
(1)   Total capital ratio (4)/(7)		20.78	%		(1.68	)%		22.47	%		23.25	%
(2)   Tier 1 capital ratio (5)/(7)		19.03	%		(0.99	)%		20.02	%		21.06	%
(3)   Common Equity Tier 1 capital ratio (6)/(7)		17.31	%		(0.67	)%		17.99	%		19.03	%
(4)   Total capital		1,969.2			(130.3	)		2,099.6			2,175.0
(5)   Tier 1 capital		1,803.3			(67.6	)		1,870.9			1,970.3
(6)   Common Equity Tier 1 capital		1,640.4			(40.6	)		1,681.1			1,780.4
(7)   Risk weighted assets		9,475.9			131.8			9,344.0			9,352.0
(8)   Required Capital (7)×8%		758.0			10.5			747.5			748.1
BK Non-consolidated	(in billions of yen)
	As of March 31, 2022 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)			As of September 30, 2021
(1)   Total capital ratio (4)/(7)		11.91	%		(2.68	)%		14.60	%		15.32	%
(2)   Tier 1 capital ratio (5)/(7)		10.20	%		(2.21	)%		12.42	%		13.31	%
(3)   Common Equity Tier 1 capital ratio (6)/(7)		8.81	%		(1.84	)%		10.66	%		11.47	%
(4)   Total capital		11,167.5			(1,191.9	)		12,359.4			12,341.7
(5)   Tier 1 capital		9,565.7			(946.6	)		10,512.4			10,723.4
(6)   Common Equity Tier 1 capital		8,261.6			(763.6	)		9,025.2			9,236.3
(7)   Risk weighted assets		93,729.3			9,096.4			84,632.8			80,521.8
(8)   Required Capital (7)×8%		7,498.3			727.7			6,770.6			6,441.7
TB Non-consolidated	(in billions of yen)
	As of March 31, 2022 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)			As of September 30, 2021
(1)   Total capital ratio (4)/(7)		19.97	%		(1.93	)%		21.91	%		22.48	%
(2)   Tier 1 capital ratio (5)/(7)		18.42	%		(1.31	)%		19.73	%		20.54	%
(3)   Common Equity Tier 1 capital ratio (6)/(7)		16.89	%		(1.03	)%		17.92	%		18.73	%
(4)   Total capital		2,122.8			(171.8	)		2,294.6			2,360.7
(5)   Tier 1 capital		1,957.3			(109.1	)		2,066.4			2,156.5
(6)   Common Equity Tier 1 capital		1,794.8			(82.1	)		1,876.9			1,967.0
(7)   Risk weighted assets		10,625.3			155.7			10,469.5			10,497.1
(8)   Required Capital (7)×8%		850.0			12.4			837.5			839.7

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. Loans to Be Disclosed under the Banking Act and the Financial Reconstruction Act (the “FRA”)

MUFG Consolidated

(1) Loans to Be Disclosed under the Banking Act and the FRA (after write-offs)

	(in millions of yen)
	As of March 31, 2022			As of March 31, 2021			Increase (Decrease)
Bankrupt or De facto Bankrupt		252,148			289,615			(37,467	)
Doubtful		799,214			627,797			171,417
Special Attention		420,453			446,504			(26,050	)
Accruing loans contractually past due 3 months or more		12,104			23,657			(11,552	)
Restructured loans		408,348			422,846			(14,497	)
Subtotal (A)		1,471,816			1,363,917			107,899
Normal (B)		122,326,614			117,264,113			5,062,500
Total loans (C=A+B)		123,798,430			118,628,030			5,170,399
Non-performing loans ratio (A)/(C)		1.18	%		1.14	%		0.03	%
Write-offs		246,542			298,281			(51,738	)

The definitions relating to “risk-monitored loans” previously disclosed under the Banking Act have been revised to make them consist with the definitions relating to “non-performing loans” to be disclosed under the FRA.

Accordingly, the “Loans to Be Disclosed under the Banking Act and the FRA” as of March 31, 2022 are disclosed herein in accordance with such definitions. The information as of March 31, 2021 has been retroactively restated based on the revised definitions.

(2) Allowance for Credit Losses

	(in millions of yen)
	As of March 31, 2022		Coverage ratio (D)/(A)			As of March 31, 2021		Coverage ratio (D)/(A)			Increase (Decrease)			Coverage ratio (D)/(A)
Allowance for credit losses (D)		1,222,162		83.03	%		1,105,541		81.05	%		116,620			1.98	%
General allowance for credit losses		736,701					804,942					(68,240	)
Specific allowance for credit losses		448,107					300,049					148,057
Allowance for credit to specific foreign borrowers		37,353					549					36,804

(3) Classification of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)
Classified by Geographic Area	(in millions of yen)
	As of March 31, 2022		As of March 31, 2021		Increase (Decrease)
Domestic		866,668		692,580		174,088
Overseas		605,147		671,336		(66,189	)
Asia		302,941		305,836		(2,895	)
Indonesia		40,628		53,343		(12,715	)
Singapore		39,672		44,116		(4,444	)
Thailand		164,128		156,875		7,253
Hong Kong		—		832		(832	)
Other		58,512		50,668		7,843
Americas		178,132		226,740		(48,607	)
Europe, Middle East and Other		124,073		138,759		(14,685	)
Total		1,471,816		1,363,917		107,899
Classified by Industry	(in millions of yen)
	As of March 31, 2022		As of March 31, 2021		Increase (Decrease)
Domestic		866,668		692,580		174,088
Manufacturing		258,373		111,509		146,864
Construction		7,942		7,940		2
Wholesale and retail		128,476		107,860		20,615
Finance and insurance		7,546		4,541		3,004
Real estate, goods rental and leasing		43,774		52,102		(8,328	)
Services		134,754		84,154		50,599
Other industries		18,285		19,277		(991	)
Consumer		267,515		305,194		(37,678	)
Overseas		605,147		671,336		(66,189	)
Financial institutions		10,394		10,914		(520	)
Commercial and industrial		479,990		549,132		(69,141	)
Other		114,762		111,289		3,473
Total		1,471,816		1,363,917		107,899

14

Mitsubishi UFJ Financial Group, Inc.

BK and TB Combined including Trust Account

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

(1) Loans to Be Disclosed under the Banking Act and the FRA (after write-offs)

	(in millions of yen)
	As of March 31, 2022			As of March 31, 2021			Increase (Decrease)
Bankrupt or De facto Bankrupt		105,939			147,818			(41,879	)
Doubtful		602,884			416,668			186,215
Special Attention		282,145			293,879			(11,734	)
Accruing loans contractually past due 3 months or more		5,601			14,246			(8,645	)
Restructured loans		276,544			279,632			(3,088	)
Subtotal (A)		990,968			858,366			132,602
Normal(B)		102,429,934			99,534,250			2,895,683
Total loans (C=A+B)		103,420,902			100,392,617			3,028,285
Non-performing loans ratio (A)/(C)		0.95	%		0.85	%		0.10	%
Write-offs		206,093			250,687			(44,593	)

The definitions relating to “risk-monitored loans” previously disclosed under the Banking Act have been revised to make them consist with the definitions relating to “non-performing loans” to be disclosed under the FRA.

Accordingly, the “Loans to Be Disclosed under the Banking Act and the FRA” as of March 31, 2022 are disclosed herein in accordance with such definitions.

The information as of March 31, 2021 has been retroactively restated based on the revised definitions.

(2) Status of Coverage of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)

	(in millions of yen)
	As of March 31, 2022		Coverage ratio [(D)+(E)]/(A)			As of March 31, 2021		Coverage ratio [(D)+(E)]/(A)			Increase (Decrease)			Coverage ratio [(D)+(E)]/(A)
Covered amount		762,202		76.91	%		682,952		79.56	%		79,249			(2.64	)%
Allowance for credit losses(D)		357,001					211,330					145,670
Collateral, guarantees, etc.(E)		405,201					471,622					(66,420	)

(3) Coverage Ratio

(in millions of yen)

Category

Loan amount (A)

Allowance for credit losses (D)

Covered by collateral and/ or guarantees (E)

Allowance coverage ratio for unsecured portion (D) / [(A) - (E)]

Coverage ratio [(D)+(E)]/(A)

Bankrupt or De facto Bankrupt

105,939

11,885

94,053

—

100.00

%

[147,818

]

[20,058

]

[127,759

]

[—

]

[100.00

%]

Doubtful

602,884

275,683

223,749

—

82.84

%

[416,668

]

[121,299

]

[212,592

]

[—

]

[80.13

%]

Special Attention

282,145

69,432

87,397

—

55.58

%

[293,879

]

[69,971

]

[131,270

]

[—

]

[68.47

%]

Total

990,968

357,001

405,201

—

76.91

%

[858,366

]

[211,330

]

[471,622

]

[—

]

[79.56

%]

Note: The upper figures are as of March 31, 2022. The lower figures in brackets are as of March 31, 2021.

(4) Classification of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)

Classified by Geographic Area	(in millions of yen)
	As of March 31, 2022		As of March 31, 2021		Increase (Decrease)
Domestic		689,877		514,667		175,210
Overseas		301,091		343,699		(42,607	)
Asia		100,863		101,889		(1,025	)
Indonesia		2,823		6,350		(3,527	)
Singapore		39,672		44,116		(4,444	)
Thailand		—		—		—
Hong Kong		—		832		(832	)
Other		58,368		50,590		7,778
Americas		96,239		124,766		(28,526	)
Europe, Middle East and Other		103,987		117,043		(13,056	)
Total		990,968		858,366		132,602

Classified by Industry	(in millions of yen)
	As of March 31, 2022		As of March 31, 2021		Increase (Decrease)
Domestic		689,877		514,667		175,210
Manufacturing		257,609		110,710		146,898
Construction		7,893		7,857		36
Wholesale and retail		127,043		106,348		20,695
Finance and insurance		7,524		4,518		3,005
Real estate		29,981		27,996		1,984
Goods rental and leasing		13,772		24,025		(10,252	)
Services		134,708		84,135		50,573
Other industries		18,041		19,126		(1,085	)
Consumer		93,301		129,947		(36,645	)
Overseas		301,091		343,699		(42,607	)
Financial institutions		—		2,820		(2,820	)
Commercial and industrial		300,913		340,659		(39,745	)
Other		177		219		(42	)
Total		990,968		858,366		132,602

15

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(1) Loans to Be Disclosed under the Banking Act and the FRA (after write-offs)

	(in millions of yen)
	As of March 31, 2022			As of March 31, 2021			Increase (Decrease)
Bankrupt or De facto Bankrupt		105,796			147,768			(41,971	)
Doubtful		601,264			414,688			186,576
Special Attention		282,145			293,879			(11,734	)
Accruing loans contractually past due 3 months or more		5,601			14,246			(8,645	)
Restructured loans		276,544			279,632			(3,088	)
Subtotal (A)		989,206			856,336			132,869
Normal(B)		99,472,730			96,093,176			3,379,553
Total loans (C=A+B)		100,461,936			96,949,512			3,512,423
Non-performing loans ratio (A)/(C)		0.98	%		0.88	%		0.10	%
Write-offs		206,061			250,633			(44,572	)

The definitions relating to “risk-monitored loans” previously disclosed under the Banking Act have been revised to make them consist with the definitions relating to “non-performing loans” to be disclosed under the FRA.

Accordingly, the “Loans to Be Disclosed under the Banking Act and the FRA” as of March 31, 2022 are disclosed herein in accordance with such definitions.

The information as of March 31, 2021 has been retroactively restated based on the revised definitions.

(2) Status of Coverage of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)

	(in millions of yen)
	As of March 31, 2022		Coverage ratio [(D)+(E)]/(A)			As of March 31, 2021		Coverage ratio [(D)+(E)]/(A)			Increase (Decrease)			Coverage ratio [(D)+(E)]/(A)
Covered amount		760,440		76.87	%		680,922		79.51	%		79,517			(2.64	)%
Allowance for credit losses(D)		357,001					211,330					145,670
Collateral, guarantees, etc.(E)		403,438					469,591					(66,153	)

(3) Coverage Ratio

(in millions of yen)

Category

Loan amount (A)

Allowance for credit losses (D)

Covered by collateral and/ or guarantees (E)

Allowance coverage ratio for unsecured portion (D) / [(A) - (E)]

Coverage ratio [(D)+(E)]/(A)

Bankrupt or De facto Bankrupt

105,796

11,885

93,911

100.00

%

100.00

%

[147,768

]

[20,058

]

[127,709

]

[100.00

%]

[100.00

%]

Doubtful

601,264

275,683

222,129

72.71

%

82.79

%

[414,688

]

[121,299

]

[210,611

]

[59.43

%]

[80.03

%]

Special Attention

282,145

69,432

87,397

35.65

%

55.58

%

[293,879

]

[69,971

]

[131,270

]

[43.03

%]

[68.47

%]

Total

989,206

357,001

403,438

60.94

%

76.87

%

[856,336

]

[211,330

]

[469,591

]

[54.64

%]

[79.51

%]

Note: The upper figures are as of March 31, 2022. The lower figures in brackets are as of March 31, 2021.

(4) Classification of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)

Classified by Geographic Area	(in millions of yen)
	As of March 31, 2022		As of March 31, 2021		Increase (Decrease)
Domestic		688,114		512,636		175,477
Overseas		301,091		343,699		(42,607	)
Asia		100,863		101,889		(1,025	)
Indonesia		2,823		6,350		(3,527	)
Singapore		39,672		44,116		(4,444	)
Thailand		—		—		—
Hong Kong		—		832		(832	)
Other		58,368		50,590		7,778
Americas		96,239		124,766		(28,526	)
Europe, Middle East and Other		103,987		117,043		(13,056	)
Total		989,206		856,336		132,869

Classified by Industry	(in millions of yen)
	As of March 31, 2022		As of March 31, 2021		Increase (Decrease)
Domestic		688,114		512,636		175,477
Manufacturing		257,609		110,710		146,898
Construction		7,893		7,857		36
Wholesale and retail		127,043		106,348		20,695
Finance and insurance		7,524		4,518		3,005
Real estate		29,971		27,985		1,986
Goods rental and leasing		13,772		24,025		(10,252	)
Services		134,708		84,135		50,573
Other industries		18,041		19,126		(1,085	)
Consumer		91,548		127,927		(36,378	)
Overseas		301,091		343,699		(42,607	)
Financial institutions		—		2,820		(2,820	)
Commercial and industrial		300,913		340,659		(39,745	)
Other		177		219		(42	)
Total		989,206		856,336		132,869

16

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Loans to Be Disclosed under the Banking Act and the FRA (after write-offs)

	(in millions of yen)
	As of March 31, 2022			As of March 31, 2021			Increase (Decrease)
Bankrupt or De facto Bankrupt		142			50			92
Doubtful		1,618			1,978			(359	)
Special Attention		—			—			—
Accruing loans contractually past due 3 months or more		—			—			—
Restructured loans		—			—			—
Subtotal (A)		1,761			2,028			(267	)
Normal(B)		2,952,474			3,435,024			(482,549	)
Total loans (C=A+B)		2,954,236			3,437,052			(482,816	)
Non-performing loans ratio (A)/(C)		0.05	%		0.05	%		0.00	%
Write-offs		32			53			(20	)

The definitions relating to “risk-monitored loans” previously disclosed under the Banking Act have been revised to make them consist with the definitions relating to “non-performing loans” to be disclosed under the FRA.

Accordingly, the “Loans to Be Disclosed under the Banking Act and the FRA” as of March 31, 2022 are disclosed herein in accordance with such definitions.

The information as of March 31, 2021 has been retroactively restated based on the revised definitions.

(2) Status of Coverage of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)

	(in millions of yen)
	As of March 31, 2022		Coverage ratio [(D)+(E)]/(A)			As of March 31, 2021		Coverage ratio [(D)+(E)]/(A)			Increase (Decrease)			Coverage ratio [(D)+(E)]/(A)
Covered amount		1,761		100.00	%		2,028		100.00	%		(267	)		—
Allowance for credit losses(D)		—					—					—
Collateral, guarantees, etc.(E)		1,761					2,028					(267	)

(3) Coverage Ratio

(in millions of yen)

Category

Loan amount (A)

Allowance for credit losses (D)

Covered by collateral and/ or guarantees (E)

Allowance coverage ratio for unsecured portion (D) / [(A) - (E)]

Coverage ratio [(D)+(E)]/(A)

Bankrupt or De facto Bankrupt

142

—

142

—

100.00

%

[50

]

[—

]

[ 50

]

[—

]

[100.00

%]

Doubtful

1,618

—

1,618

—

100.00

%

[1,978

]

[—

]

[1,978

]

[—

]

[100.00

%]

Special Attention

—

—

—

—

—

[—

]

[—

]

[—

]

[—

]

[—

]

Total

1,761

—

1,761

—

100.00

%

[2,028

]

[—

]

[2,028

]

[—

]

[100.00

%]

Note: The upper figures are as of March 31, 2022. The lower figures in brackets are as of March 31, 2021.

(4) Classification of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)

Classified by Geographic Area	(in millions of yen)
	As of March 31, 2022		As of March 31, 2021		Increase (Decrease)
Domestic		1,761		2,028		(267	)
Overseas		—		—		—
Asia		—		—		—
Indonesia		—		—		—
Singapore		—		—		—
Thailand		—		—		—
Hong Kong		—		—		—
Other		—		—		—
Americas		—		—		—
Europe, Middle East and Other		—		—		—
Total		1,761		2,028		(267	)
Classified by Industry	(in millions of yen)
	As of March 31, 2022		As of March 31, 2021		Increase (Decrease)
Domestic		1,761		2,028		(267	)
Manufacturing		—		—		—
Construction		—		—		—
Wholesale and retail		—		—		—
Finance and insurance		—		—		—
Real estate		9		10		(1	)
Goods rental and leasing		—		—		—
Services		—		—		—
Other industries		—		—		—
Consumer		1,751		2,017		(265	)
Overseas		—		—		—
Financial institutions		—		—		—
Commercial and industrial		—		—		—
Other		—		—		—
Total		1,761		2,028		(267	)

17

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated: Trust Account

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

(1) Loans to Be Disclosed under the Banking Act and the FRA (after write-offs)

	(in millions of yen)
	As of March 31, 2022			As of March 31, 2021			Increase (Decrease)
Bankrupt or De facto Bankrupt		—			—			—
Doubtful		1			2			(0	)
Special Attention		—			—			—
Accruing loans contractually past due 3 months or more		—			—			—
Restructured loans		—			—			—
Subtotal (A)		1			2			(0	)
Normal(B)		4,728			6,049			(1,320	)
Total loans (C=A+B)		4,730			6,051			(1,321	)
Non-performing loans ratio (A)/(C)		0.03	%		0.03	%		(0.00	)%
Write-offs		—			—			—

The definitions relating to “risk-monitored loans” previously disclosed under the Banking Act have been revised to make them consist with the definitions relating to “non-performing loans” to be disclosed under the FRA.

Accordingly, the “Loans to Be Disclosed under the Banking Act and the FRA” as of March 31, 2022 are disclosed herein in accordance with such definitions.

The information as of March 31, 2021 has been retroactively restated based on the revised definitions.

(2) Status of Coverage of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)

	(in millions of yen)
	As of March 31, 2022		Coverage ratio [(D)+(E)]/(A)			As of March 31, 2021		Coverage ratio [(D)+(E)]/(A)			Increase (Decrease)			Coverage ratio [(D)+(E)]/(A)
Covered amount		1		100.00	%		2		100.00	%		(0	)		—
Allowance for credit losses(D)		—					—					—
Collateral, guarantees, etc.(E)		1					2					(0	)

(3) Coverage Ratio

(in millions of yen)

Category

Loan amount (A)

Allowance for credit losses (D)

Covered by collateral and/ or guarantees (E)

Allowance coverage ratio for unsecured portion (D) / [(A) - (E)]

Coverage ratio [(D)+(E)]/(A)

Bankrupt or De facto Bankrupt

—

—

—

—

—

[—

]

[—

]

[—

]

[—

]

[—

]

Doubtful

1

—

1

—

100.00

%

[ 2

]

[—

]

[ 2

]

[—

]

[ 100.00

%]

Special Attention

—

—

—

—

—

[—

]

[—

]

[—

]

[—

]

[—

]

Total

1

—

1

—

100.00

%

[ 2

]

[—

]

[ 2

]

[—

]

[ 100.00

%]

Note: The upper figures are as of March 31, 2022. The lower figures in brackets are as of March 31, 2021.

(4) Classification of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)

Classified by Industry	(in millions of yen)
	As of March 31, 2022		As of March 31, 2021		Increase (Decrease)
Domestic		1		2		(0	)
Manufacturing		—		—		—
Construction		—		—		—
Wholesale and retail		—		—		—
Finance and insurance		—		—		—
Real estate		—		—		—
Goods rental and leasing		—		—		—
Services		—		—		—
Other industries		—		—		—
Consumer		1		2		(0	)
Total		1		2		(0	)

18

Mitsubishi UFJ Financial Group, Inc.

Overview of Self-Assessment, Status of Coverage, and Loans to Be Disclosed under the Banking Act and the FRA

BK and TB Combined

(in billions of yen)
Self-Assessment					Allowance Coverage ratio for unsecured portion	Loans to Be Disclosed         under the Banking Act          and the FRA         (*1)
Category of Borrowers	Classification
	Non- Classification	Classification  II	Classification  III	Classification  IV
Bankrupt Borrowers	[94.0]		[11.2]	[0.5] (*2)	100.00%	i) Bankrupt or     De facto Bankrupt     [105.9]
Substantially Bankrupt Borrowers
Potentially Bankrupt Borrowers	[223.7]		[379.1]		72.71%	ii) Doubtful     [602.8]
Borrowers Requiring Caution (Special Attention Borrowers)	[282.1]				35.65%	iii) Special Attention   [282.1]
						Accruing loans   contractually past due   3 months or more   [5.6]
						Restructured loans   [276.5]
Borrowers Requiring Caution (Other Borrowers)						iv) Normal     [102,425.2]
Normal Borrowers
						Non-Performing Loans
						i) + ii) + iii)
						990.9
						Loans to Be Disclosed under the Banking Act and the FRA
						i) + ii) + iii) + iv)
						103,416.1

(*1) The definitions relating to “risk-monitored loans” previously disclosed under the Banking Act have been revised to make them consist with the definitions relating to “non-performing loans” to be disclosed under the FRA.

Accordingly, the “Loans to Be Disclosed under the Banking Act and the FRA” as of March 31, 2022 are disclosed herein in accordance with such definitions.

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

19

Mitsubishi UFJ Financial Group, Inc.

8. Progress in Disposition of Problem Assets

BK Non-consolidated

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

	(in millions of yen)
	As of March 31, 2019		As of March 31, 2020		As of March 31, 2021 (A)		As of March 31, 2022 (B)		(B) - (A)
Assets newly categorized during fiscal 2018		178,183		27,831		20,519		13,826		(6,692	)
Assets newly categorized during fiscal 2019				196,249		107,696		60,536		(47,159	)
Assets newly categorized during fiscal 2020						274,842		182,845		(91,996	)
Assets newly categorized during fiscal 2021								321,978

(2) Progress in Disposition of Problem Assets    

	(in millions of yen)
	For the Fiscal Year Ended March 31, 2022
			Bankrupt or De facto Bankrupt		Doubtful
Liquidation		5,478
Reconstructive treatment		29,365
Upgrade due to reconstructive treatment		7,111
Loan sold to secondary market		4,986
Write-offs		22,477
Others		107,953
Collection / Repayment		69,453
Upgrade		38,499
Total		177,374		45,789		131,584
Amount in process for disposition		101,586

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.

20

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 “FRA”

	(in millions of yen)
	As of March 31, 2019		As of March 31, 2020		As of March 31, 2021 (A)		As of March 31, 2022 (B)		(B) - (A)
Assets newly categorized during fiscal 2018		1,067		381		80		51		(28	)
Assets newly categorized during fiscal 2019				841		359		138		(220	)
Assets newly categorized during fiscal 2020						706		272		(434	)
Assets newly categorized during fiscal 2021								635

(2) Progress in Disposition of Problem Assets

	(in millions of yen)
	For the Fiscal Year Ended March 31, 2022
			Bankrupt or De facto Bankrupt		Doubtful
Liquidation		—
Reconstructive treatment		—
Upgrade due to reconstructive treatment		—
Loan sold to secondary market		—
Write-offs		—
Others		1,093
Collection / Repayment		360
Upgrade		733
Total		1,093		19		1,074
Amount in process for disposition		198

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.

21

Mitsubishi UFJ Financial Group, Inc.

9. 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, 2022 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Domestic offices (excluding loans booked at offshore markets)		69,159,490			(116,946	)		69,276,436
Manufacturing		11,418,456			(593,122	)		12,011,578
Agriculture, forestry, fishery, mining, quarrying of stone and gravel		183,260			10,953			172,307
Construction		727,522			(4,960	)		732,482
Utilities		2,274,838			167,444			2,107,394
Communication and information services		1,209,481			13,677			1,195,804
Transport and postal activities		2,299,999			(164,912	)		2,464,911
Wholesale and retail		6,801,725			126,443			6,675,282
Finance and insurance		8,929,705			137,858			8,791,847
Real estate		9,303,121			363,957			8,939,164
Goods rental and leasing		2,179,558			(4,843	)		2,184,401
Services		2,961,506			(145,746	)		3,107,252
Municipal government		1,397,368			251,113			1,146,255
Other industries (including loans to the Japanese government)		19,472,945			(274,810	)		19,747,755
Overseas offices and loans booked at offshore markets		25,118,069			2,244,227			22,873,842
Total		94,277,559			2,127,280			92,150,278
(2) Domestic Consumer Loans
	(in millions of yen)
	As of March 31, 2022 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Total domestic consumer loans		15,762,755			65,720			15,697,035
Housing loans		15,071,003			87,387			14,983,615
Residential purpose		13,301,666			145,925			13,155,741
Other		691,752			(21,667	)		713,419
(3) Domestic Loans to Small/Medium-Sized Companies and Proprietors
	(in millions of yen)
	As of March 31, 2022 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Outstanding amount		40,470,470			792,316			39,678,154
% to total domestic loans		58.51	%		1.24	%		57.27	%

22

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(1) Loans Classified by Type of Industry

	(in millions of yen)
	As of March 31, 2022 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Domestic offices (excluding loans booked at offshore markets)		65,903,041			(132,231	)		66,035,273
Manufacturing		11,417,056			(593,122	)		12,010,178
Agriculture, forestry, fishery, mining, quarrying of stone and gravel		183,260			10,953			172,307
Construction		727,522			(4,960	)		732,482
Utilities		2,224,838			162,444			2,062,394
Communication and information services		1,199,525			13,688			1,185,837
Transport and postal activities		2,279,999			(164,912	)		2,444,911
Wholesale and retail		6,801,725			126,443			6,675,282
Finance and insurance		7,828,807			(109,888	)		7,938,695
Real estate		9,301,484			364,801			8,936,683
Goods rental and leasing		2,179,558			(4,843	)		2,184,401
Services		2,931,440			(174,817	)		3,106,257
Municipal government		1,397,047			251,142			1,145,905
Other industries (including loans to the Japanese government)		17,430,780			(9,161	)		17,439,941
Overseas offices and loans booked at offshore markets		24,518,193			2,106,429			22,411,763
Total		90,421,234			1,974,198			88,447,036
(2) Domestic Consumer Loans
	(in millions of yen)
	As of March 31, 2022 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Total domestic consumer loans		14,962,292			157,182			14,805,109
Housing loans		14,271,845			178,405			14,093,440
Residential purpose		12,503,035			236,663			12,266,372
Other		690,446			(21,223	)		711,669
(3) Domestic Loans to Small/Medium-Sized Companies and Proprietors
	(in millions of yen)
	As of March 31, 2022 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Outstanding amount		39,135,616			943,620			38,191,996
% to total domestic loans		59.38	%		1.54	%		57.83	%

23

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Loans Classified by Type of Industry

	(in millions of yen)
	As of March 31, 2022 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Domestic offices (excluding loans booked at offshore markets)		2,136,030			(691,698	)		2,827,728
Manufacturing		—			—			—
Agriculture, forestry, fishery, mining, quarrying of stone and gravel		—			—			—
Construction		—			—			—
Utilities		5,000			5,000			—
Communication and information services		9,956			(11	)		9,967
Transport and postal activities		—			—			—
Wholesale and retail		—			—			—
Finance and insurance		363,958			(429,283	)		793,241
Real estate		705			(187	)		892
Goods rental and leasing		—			—			—
Services		30,066			29,071			995
Municipal government		—			—			—
Other industries (including loans to the Japanese government)		1,726,343			(296,288	)		2,022,631
Overseas offices and loans booked at offshore markets		599,876			137,797			462,078
Total		2,735,906			(553,900	)		3,289,807
(2) Domestic Consumer Loans
	(in millions of yen)
	As of March 31, 2022 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Total domestic consumer loans		796,980			(90,737	)		887,718
Housing loans		795,675			(90,295	)		885,970
Residential purpose		795,170			(90,145	)		885,316
Other		1,304			(442	)		1,747
(3) Domestic Loans to Small/Medium-Sized Companies and Proprietors
	(in millions of yen)
	As of March 31, 2022 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Outstanding amount		1,069,511			(159,293	)		1,228,804
% to total domestic loans		50.07	%		6.61	%		43.45	%

24

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, 2022 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Domestic offices (excluding loans booked at offshore markets)		1,120,418			706,982			413,435
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		736,940			677,029			59,911
Real estate		932			(657	)		1,589
Goods rental and leasing		—			—			—
Services		—			—			—
Municipal government		321			(29	)		350
Other industries (including loans to the Japanese government)		315,822			30,639			285,183
Overseas offices and loans booked at offshore markets		—			—			—
Total		1,120,418			706,982			413,435
(2) Domestic Consumer Loans
	(in millions of yen)
	As of March 31, 2022 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Total domestic consumer loans		3,482			(724	)		4,207
Housing loans		3,481			(722	)		4,204
Residential purpose		3,460			(592	)		4,052
Other		0			(1	)		2
(3) Domestic Loans to Small/Medium-Sized Companies and Proprietors
	(in millions of yen)
	As of March 31, 2022 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Outstanding amount		265,343			7,989			257,354
% to total domestic loans		23.68	%		(38.56	)%		62.24	%

25

Mitsubishi UFJ Financial Group, Inc.

10. Overseas Loans

BK Consolidated excl. MUAH, KS, BDI

	(in millions of yen)
	As of March 31, 2022 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Americas		9,208,328		1,362,710			7,845,617
United States of America		7,357,205		1,270,322			6,086,883
Canada		761,719		22,909			738,809
Brazil		440,095		44,398			395,697
Mexico		299,366		(17,967	)		317,334
Others		349,941		43,048			306,893
Asia/Oceania		11,279,844		1,038,499			10,241,345
Hong Kong		2,109,534		10,525			2,099,009
China		1,887,865		398,661			1,489,203
Singapore		1,674,493		239,124			1,435,368
Australia		1,281,274		20,650			1,260,623
India		787,206		106,639			680,567
Taiwan		748,815		122,831			625,984
Indonesia		735,081		37,291			697,789
Malaysia		632,112		22,896			609,215
New Zealand		358,858		40,381			318,477
Korea		346,412		(15,179	)		361,592
Viet Nam		301,625		48,211			253,414
Others		416,564		6,465			410,098
EMEA		7,646,693		352,594			7,294,099
United Kingdom		2,085,310		75,790			2,009,520
Netherlands		813,643		54,454			759,189
Germany		587,392		85,277			502,115
Saudi Arabia		422,776		(103,568	)		526,345
Luxembourg		408,904		242,274			166,630
France		389,076		17,635			371,440
Switzerland		287,690		52,607			235,082
Ireland		265,035		(40,316	)		305,351
Turkey		194,303		27,200			167,103
United Arab Emirates		170,518		(75,490	)		246,009
Italy		161,403		(12,136	)		173,539
Belgium		159,175		(18,963	)		178,139
Russia		157,063		3,415			153,648
Qatar		136,666		(166,539	)		303,206
Spain		89,994		(13,393	)		103,387
Oman		88,155		(4,125	)		92,281
Kuwait		77,871		34,903			42,967
Others		1,151,709		193,569			958,139
Total		28,134,866		2,753,804			25,381,062

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

	(in millions of yen)
	As of March 31, 2022 (A)		Increase (Decrease) (A) - (B)		As of March 31, 2021 (B)
MUAH		9,102,626		741,183		8,361,443
KS		4,915,963		245,785		4,670,177
BDI		918,722		33,545		885,176

26

Mitsubishi UFJ Financial Group, Inc.

11. Loans and Deposits

BK and TB Combined

	(in millions of yen)
	As of March 31, 2022 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Deposits (ending balance)		194,249,280		1,136,135			193,113,145
Deposits (average balance)		195,540,350		9,711,295			185,829,055
Loans (ending balance)		93,157,141		1,420,297			91,736,843
Loans (average balance)		91,880,995		(3,527,992	)		95,408,988
BK Non-consolidated
	(in millions of yen)
	As of March 31, 2022 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Deposits (ending balance)		183,356,877		1,116,947			182,239,930
Deposits (average balance)		184,598,552		9,908,326			174,690,226
Loans (ending balance)		90,421,234		1,974,198			88,447,036
Loans (average balance)		89,038,475		(2,658,744	)		91,697,219
TB Non-consolidated
	(in millions of yen)
	As of March 31, 2022 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Deposits (ending balance)		10,892,403		19,187			10,873,215
Deposits (average balance)		10,941,798		(197,030	)		11,138,829
Loans (ending balance)		2,735,906		(553,900	)		3,289,807
Loans (average balance)		2,842,520		(869,248	)		3,711,769

27

Mitsubishi UFJ Financial Group, Inc.

12. Domestic Deposits

BK and TB Combined

	(in millions of yen)
	As of March 31, 2022 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Individuals		88,268,890		3,420,304			84,848,585
Corporations and others		80,013,348		(954,682	)		80,968,030
Domestic deposits		168,282,238		2,465,622			165,816,616

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

BK Non-consolidated
	(in millions of yen)
	As of March 31, 2022 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Individuals		82,053,180		3,775,657			78,277,523
Corporations and others		76,881,238		(1,122,148	)		78,003,387
Domestic deposits		158,934,418		2,653,508			156,280,910

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

TB Non-consolidated
	(in millions of yen)
	As of March 31, 2022 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Individuals		6,215,710		(355,352	)		6,571,062
Corporations and others		3,132,109		167,466			2,964,643
Domestic deposits		9,347,819		(187,886	)		9,535,706

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

28

Mitsubishi UFJ Financial Group, Inc.

13. 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, 2022 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Deferred tax assets		691.1			178.0			513.1
Allowance for credit losses		251.8			52.2			199.5
Write-down on investment securities		380.5			(0.7	)		381.2
Unrealized losses on Available-for-sale securities		24.1			20.3			3.7
Reserve for retirement benefits		86.4			(5.8	)		92.3
Reserve for contingent losses		26.8			6.7			20.0
Depreciation and Impairment losses		79.5			35.0			44.5
Devaluation on land upon merger		23.0			(2.0	)		25.1
Net deferred losses on hedging instruments		58.5			58.5			—
Other		165.5			3.2			162.3
Valuation allowance		(405.3	)		10.4			(415.8	)
Deferred tax liabilities		653.9			(314.4	)		968.4
Unrealized gains on Available-for-sale securities		488.1			(256.7	)		744.8
Net deferred gains on hedging instruments		—			(73.6	)		73.6
Revaluation gains on securities upon merger		49.3			(3.2	)		52.5
Gains on securities contributed to employees’ retirement benefits trust		45.2			(0.2	)		45.4
Other		71.2			19.4			51.8
Net deferred tax assets		37.2			492.4			(455.2	)

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

	(in billions of yen)
	FY2016			FY2017			FY2018			FY2019			FY2020			FY2021
Net operating profits before provision for general allowance for credit losses		666.9			554.3			388.4			395.2			388.0			374.4
Total credit costs		(25.4	)		56.0			128.5			11.8			(223.3	)		(234.0	)
Income before income taxes		632.2			580.0			767.2			(535.9	)		205.5			286.1
Reconciliation to taxable income		(86.2	)		(156.0	)		(500.2	)		844.6			98.5			353.6
Taxable income		546.0			424.0			267.0			308.7			304.1			639.8

(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.

29

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, 2022 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Deferred tax assets		57.5			(9.4	)		67.0
Gains on securities related to employees’ retirement benefits trust		34.5			1.7			32.8
Depreciation and Impairment losses		10.3			1.2			9.1
Write-down on investment securities		9.2			(0.0	)		9.2
Reserve for contingent losses		4.2			(0.2	)		4.5
Net deferred losses on hedging instruments		—			(19.4	)		19.4
Other		25.7			5.5			20.1
Valuation allowance		(26.5	)		1.8			(28.3	)
Deferred tax liabilities		258.3			(82.6	)		340.9
Unrealized gains on Available-for-sale securities		136.2			(111.8	)		248.0
Reserve for retirement benefits		91.9			9.1			82.8
Net deferred gains on hedging instruments		18.5			18.5			—
Other		11.5			1.4			10.1
Net deferred tax assets		(200.8	)		73.1			(273.9	)

(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)
	FY2016			FY2017			FY2018			FY2019			FY2020			FY2021
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		181.4			162.1			144.5			142.3			132.3			176.4
Total credit costs		(22.5	)		23.4			1.3			0.8			0.0			0.1
Income before income taxes		156.3			249.7			127.9			148.6			129.4			210.6
Reconciliation to taxable income		1.8			(69.5	)		(79.2	)		(39.3	)		(26.5	)		(39.4	)
Taxable income		158.1			180.2			48.7			109.3			102.9			171.1

(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.

30

Mitsubishi UFJ Financial Group, Inc.

14. Retirement Benefits

MUFG Consolidated

(1) Benefit obligation

		(in millions of yen)
		As of     March 31, 2022     (A)			Increase (Decrease) (A) - (B)			As of   March 31, 2021   (B)
Projected benefit obligation (reserve type)	(A)		2,282,135			(30,337	)		2,312,473
Projected benefit obligation (non-reserve type)	(B)		83,206			(2,801	)		86,007
Fair value of plan assets	(C)		3,653,594			133,450			3,520,144
Net amount recorded on the Consolidated Balance Sheet	(A) + (B) - (C)		(1,288,252	)		(166,589	)		(1,121,662	)
Net defined benefit liability			86,355			(2,559	)		88,914
Net defined benefit asset			(1,374,607	)		(164,030	)		(1,210,577	)
(2) Net periodic cost of retirement benefits
		(in millions of yen)
		For the fiscal year ended March 31, 2022 (A)			Increase (Decrease) (A) - (B)			For the fiscal year ended March 31, 2021 (B)
Net periodic cost of retirement benefits regarding defined benefit pension plans			(41,466	)		(64,290	)		22,824
Service cost			62,090			798			61,292
Interest cost			24,540			(1,446	)		25,986
Expected return on plan assets			(120,479	)		(16,173	)		(104,306	)
Amortization of unrecognized prior service cost			(2,722	)		2,200			(4,922	)
Amortization of unrecognized net actuarial loss			(20,864	)		(49,601	)		28,736
Other			16,006			(30	)		16,037

(3) Assumptions used in calculation of projected benefit obligation

	As of March 31, 2022
Discount rates		Domestic consolidated subsidiaries	0.07%~0.93%
		Overseas consolidated subsidiaries	0.52%~9.04%
Expected return		Domestic consolidated subsidiaries	1.50%~3.80%
		Overseas consolidated subsidiaries	0.90%~9.04%

31

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(1) Benefit obligation

		(in millions of yen)
		As of March 31, 2022 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Projected benefit obligation	(A)		1,345,885			(56,479	)		1,402,365
Discount rates			(0.7% ~ 0.9	%)					(0.5% ~ 0.7	%)
Fair value of plan assets	(B)		2,105,376			9,496			2,095,880
Prepaid pension cost	(C)		469,438			78,011			391,426
Reserve for retirement benefits	(D)		7,091			650			6,440
Total amount unrecognized	(A) - (B) + (C) - (D)		(297,145	)		11,384			(308,530	)
Unrecognized net actuarial loss			(296,945	)		11,314			(308,260	)
Unrecognized prior service cost			(199	)		69			(269	)
(2) Net periodic cost
		(in millions of yen)
		For the fiscal year ended March 31, 2022 (A)			Increase (Decrease) (A) - (B)			For the fiscal year ended March 31, 2021 (B)
Net periodic cost of retirement benefits			(30,458	)		(51,292	)		20,834
Service cost			31,062			(2,202	)		33,264
Interest cost			11,300			705			10,594
Expected return on plan assets			(55,056	)		(8,592	)		(46,464	)
Amortization of unrecognized prior service cost			(162	)		2,568			(2,730	)
Amortization of unrecognized net actuarial loss			(36,273	)		(43,446	)		7,173
Other			18,670			(326	)		18,996

32

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Benefit obligation

		(in millions of yen)
		As of March 31, 2022 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Projected benefit obligation	(A)		320,338			(9,432	)		329,770
Discount rates			(0.6% ~ 0.9	%)					(0.5% ~ 0.7	%)
Fair value of plan assets	(B)		752,369			24,428			727,941
Prepaid pension cost	(C)		419,442			29,530			389,911
Reserve for retirement benefits	(D)		33			(295	)		328
Total amount unrecognized	(A) - (B) + (C) - (D)		(12,622	)		(4,034	)		(8,587	)
Unrecognized net actuarial loss			(14,181	)		(3,810	)		(10,370	)
Unrecognized prior service cost			1,558			(223	)		1,782
(2) Net periodic cost
		(in millions of yen)
		For the fiscal year ended March 31, 2022 (A)			Increase (Decrease) (A) - (B)			For the fiscal year ended March 31, 2021 (B)
Net periodic cost of retirement benefits			(19,524	)		(13,290	)		(6,233	)
Service cost			6,161			(531	)		6,693
Interest cost			2,162			270			1,891
Expected return on plan assets			(27,657	)		(3,014	)		(24,642	)
Amortization of unrecognized prior service cost			223			(1	)		225
Amortization of unrecognized net actuarial loss			(1,062	)		(10,253	)		9,191
Other			647			239			407

33

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, 2021			As of     March 31, 2022
Assets:
Cash and due from banks		84,701,063			87,398,956
Call loans		468,999			1,011,623
Receivables under resale agreements		308,462			732,237
Monetary claims bought		3,258,939			3,765,016
Trading assets		4,895,816			4,935,769
Money held in trust		37,765			52,379
Securities		61,787,561			61,212,185
Loans and bills discounted		88,447,036			90,421,234
Foreign exchanges		1,579,671			1,813,205
Other assets		6,799,416			7,527,866
Tangible fixed assets		775,742			719,349
Intangible fixed assets		465,275			365,782
Prepaid pension costs		391,426			469,438
Deferred tax assets		—			37,243
Customers’ liabilities for acceptances and guarantees		6,523,464			7,826,011
Allowance for credit losses		(465,391	)		(650,033	)
Total assets		259,975,251			267,638,266

34

Mitsubishi UFJ Financial Group, Inc.

(in millions of yen)	As of     March 31, 2021			As of     March 31, 2022
Liabilities:
Deposits		182,239,930			183,356,877
Negotiable certificates of deposit		6,067,653			7,575,964
Call money		182,220			287,401
Payables under repurchase agreements		6,058,839			9,752,120
Commercial papers		880,919			1,321,859
Trading liabilities		2,700,766			2,645,871
Borrowed money		36,071,586			36,532,121
Foreign exchanges		2,772,317			2,577,305
Bonds payable		1,617,008			1,355,232
Other liabilities		4,302,420			5,296,077
Reserve for bonuses		29,303			30,459
Reserve for bonuses to directors		155			153
Reserve for stocks payment		4,788			3,749
Reserve for retirement benefits		6,440			7,091
Reserve for loyalty award credits		1,246			1,166
Reserve for contingent losses		65,586			87,530
Deferred tax liabilities		455,256			—
Deferred tax liabilities for land revaluation		97,744			90,620
Acceptances and guarantees		6,523,464			7,826,011
Total liabilities		250,077,648			258,747,613
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		2,782,616			2,616,656
Revenue reserve		190,044			190,044
Other retained earnings		2,592,572			2,426,611
Funds for retirement benefits		2,432			2,432
Other reserve		718,196			718,196
Earned surplus brought forward		1,871,943			1,705,982
Treasury stock		(645,700	)		(645,700	)
Total shareholders’ equity		7,727,150			7,561,189
Net unrealized gains (losses) on available-for-sale securities		1,812,832			1,280,620
Net deferred gains (losses) on hedging instruments		167,610			(130,402	)
Land revaluation excess		190,008			179,246
Total valuation and translation adjustments		2,170,452			1,329,464
Total net assets		9,897,602			8,890,653
Total liabilities and net assets		259,975,251			267,638,266

35

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, 2021			For the fiscal year  ended March 31, 2022
Ordinary income		2,635,402			2,557,193
Interest income		1,298,091			1,312,883
Interest on loans and bills discounted		901,983			812,651
Interest and dividends on securities		275,239			330,888
Fees and commissions		555,789			583,518
Trading income		108,449			51,887
Other operating income		500,926			257,799
Other ordinary income		172,144			351,104
Ordinary expenses		2,433,154			2,150,136
Interest expenses		451,561			327,917
Interest on deposits		133,534			80,546
Fees and commissions		163,235			154,336
Trading expenses		—			2,641
Other operating expenses		297,367			211,463
General and administrative expenses		1,183,634			1,124,878
Other ordinary expenses		337,356			328,899
Ordinary profits		202,247			407,057
Extraordinary gains		31,089			24,639
Extraordinary losses		27,753			145,497
Income before income taxes		205,583			286,198
Income taxes - current		101,551			190,928
Income taxes - deferred		(40,447	)		(93,074	)
Total taxes		61,103			97,854
Net income		144,479			188,344

36

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Non-consolidated Balance Sheets

(in millions of yen)	As of     March 31, 2021			As of     March 31, 2022
Assets:
Cash and due from banks		12,637,769			13,249,884
Call loans		407,532			447,474
Receivables under resale agreements		14,182			93,704
Receivables under securities borrowing transactions		204,836			253,065
Monetary claims bought		48,438			69,335
Trading assets		59,308			70,093
Money held in trust		138,078			160,333
Securities		13,083,825			15,295,690
Loans and bills discounted		3,289,807			2,735,906
Foreign exchanges		119,636			201,309
Other assets		1,293,319			2,166,137
Tangible fixed assets		128,832			126,011
Intangible fixed assets		83,552			86,486
Prepaid pension costs		389,911			419,442
Customers’ liabilities for acceptances and guarantees		26,371			15,756
Allowance for credit losses		(1,457	)		(998	)
Total assets		31,923,946			35,389,633

37

Mitsubishi UFJ Financial Group, Inc.

(in millions of yen)	As of     March 31, 2021			As of     March 31, 2022
Liabilities:
Deposits		10,873,215			10,892,403
Negotiable certificates of deposit		1,894,446			2,999,695
Call money		6,738			509,212
Payables under repurchase agreements		4,978,918			6,068,561
Payables under securities lending transactions		—			2,415
Commercial papers		816,071			706,848
Trading liabilities		58,858			124,191
Borrowed money		2,031,265			2,903,628
Foreign exchanges		70,007			366,916
Short-term bonds payable		—			289,999
Bonds payable		216,910			110,000
Due to trust accounts		7,661,089			6,875,205
Other liabilities		757,038			1,130,301
Reserve for bonuses		4,813			5,004
Reserve for bonuses to directors		103			93
Reserve for stocks payment		3,284			2,677
Reserve for retirement benefits		328			33
Reserve for contingent losses		14,781			13,944
Deferred tax liabilities		273,957			200,818
Deferred tax liabilities for land revaluation		3,833			3,794
Acceptances and guarantees		26,371			15,756
Total liabilities		29,692,033			33,221,500
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		1,210,765			1,315,188
Revenue reserve		73,714			73,714
Other retained earnings		1,137,051			1,241,474
Funds for retirement benefits		710			710
Other reserve		138,495			138,495
Earned surplus brought forward		997,846			1,102,269
Treasury stock		(299,999	)		(299,999	)
Total shareholders’ equity		1,691,015			1,795,438
Net unrealized gains (losses) on available-for-sale securities		585,976			330,727
Net deferred gains (losses) on hedging instruments		(44,067	)		42,138
Land revaluation excess		(1,010	)		(171	)
Total valuation and translation adjustments		540,897			372,694
Total net assets		2,231,913			2,168,132
Total liabilities and net assets		31,923,946			35,389,633

38

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, 2021		For the fiscal year   ended March 31, 2022
Ordinary income		568,370		607,961
Trust fees		113,809		116,631
Interest income		193,491		208,923
Interest on loans and bills discounted		21,061		18,382
Interest and dividends on securities		154,896		179,844
Fees and commissions		149,954		160,097
Trading income		393		80
Other operating income		50,486		59,991
Other ordinary income		60,234		62,237
Ordinary expenses		435,335		392,349
Interest expenses		63,810		36,268
Interest on deposits		5,913		3,626
Fees and commissions		49,976		49,285
Trading expenses		1,583		24,899
Other operating expenses		61,199		69,052
General and administrative expenses		209,275		189,761
Other ordinary expenses		49,488		23,082
Ordinary profits		133,035		215,611
Extraordinary gains		1,593		2,030
Extraordinary losses		5,172		7,035
Income before income taxes		129,456		210,606
Income taxes - current		29,773		50,141
Income taxes - deferred		3,279		580
Total taxes		33,052		50,721
Net income		96,403		159,884

39

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, 2021		As of     March 31, 2022
Assets:
Loans and bills discounted		413,435		1,120,418
Securities		59,314,971		67,663,477
Beneficiary rights to the trust		93,565,184		108,857,810
Securities held in custody accounts		3,636,243		3,230,600
Monetary claims		32,652,514		40,409,077
Tangible fixed assets		17,354,800		19,066,909
Intangible fixed assets		135,444		147,570
Other claims		3,154,313		2,520,092
Call loans		1,244,794		1,292,609
Due from banking account		10,043,198		11,862,710
Cash and due from banks		5,567,619		5,124,019
Total		227,082,519		261,295,295
Liabilities:
Money trusts		28,470,351		29,852,422
Pension trusts		12,004,133		12,339,538
Property formation benefit trusts		6,736		6,532
Investment trusts		98,512,832		112,937,424
Money entrusted other than money trusts		5,006,270		5,820,407
Securities trusts		5,949,600		5,795,848
Monetary claim trusts		30,677,531		36,599,637
Equipment trusts		156,727		138,279
Land and fixtures trusts		18,856		18,522
Composite trusts		46,279,479		57,786,682
Total		227,082,519		261,295,295

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 502,487 millions of yen as of March 31, 2021 and 485,019 millions of yen as of March 31, 2022.

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, 2021		As of     March 31, 2022
Assets:
Loans and bills discounted		6,051		4,730
Securities		—		—
Other		7,821,717		7,059,590
Total		7,827,769		7,064,320
Liabilities:
Principal		7,827,463		7,064,123
Allowance for bad debts		18		14
Other		287		182
Total		7,827,769		7,064,320

40

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(4) Major Items

(in millions of yen)	As of     March 31, 2021		As of     March 31, 2022
Total funds		53,248,882		56,090,592
Deposits		10,873,215		10,892,403
Negotiable certificates of deposit		1,894,446		2,999,695
Money trusts		28,470,351		29,852,422
Pension trusts		12,004,133		12,339,538
Property formation benefit trusts		6,736		6,532
Loans and bills discounted		3,703,242		3,856,324
Banking account		3,289,807		2,735,906
Trust account		413,435		1,120,418
Investment securities		72,398,797		82,959,167

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.

41