UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Form 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of November, 2008
THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.
( Translation of registrant’s name into English )
7-1, Marunouchi 2-chome, Chiyoda-ku,
Tokyo 100-8388, Japan
( Address of principal executive offices )
[ Indicate by check mark whether the registrant files or
will file annual reports under cover Form 20-F or Form 40-F. ]
Form 20-F X Form 40-F
[ Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the Commission
pursuant to Rule 12g3-2( b ) under the Securities Exchange Act of 1934. ]
Yes No X
This report on Form 6-K is hereby incorporated by reference into the prospectus constituting part of the registration statement on Form F-3 of The Bank of Tokyo-Mitsubishi UFJ, Ltd. (No. 333-11072.)
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.
THE BANK OF TOKYO-MITSUBISHI UFJ, LTD. | ||||
Date : November 18, 2008 | By | /s/ Naoki Imaoka | ||
Naoki Imaoka | ||||
Chief Manager | ||||
Corporate Administration Division |
Selected Financial Information
under Japanese GAAP
For the Six Months Ended September 30, 2008
Mitsubishi UFJ Financial Group, Inc.
|
[Contents]
1. Financial Results | 1 | |
[ MUFG Consolidated ]*1[ BTMU and MUTB Combined ]*2*3*4 | ||
[ BTMU Consolidated ][ BTMU Non-consolidated ] | ||
[ MUTB Consolidated ][ MUTB Non-consolidated ] | ||
2. Average Interest Rate Spread | 11 | |
[ BTMU Non-consolidated ][ MUTB Non-consolidated ][ BTMU and MUTB Combined ] | ||
3. Notional Principal by the Remaining Life of the Interest Rate Swaps for Hedge-Accounting | 13 | |
[ MUFG Consolidated ][ BTMU Consolidated ][ MUTB Consolidated ] | ||
4. Securities | 14 | |
[ MUFG Consolidated ][ BTMU Non-consolidated ][ MUTB Non-consolidated ] | ||
5. Return on Equity | 17 | |
[ MUFG Consolidated ] | ||
6. Risk-Adjusted Capital Ratio Based on the Basel 2 Standards | 18 | |
[ MUFG Consolidated ][ BTMU Consolidated ][ MUTB Consolidated ] | ||
7. Risk-Monitored Loans | 20 | |
[ MUFG Consolidated ][ BTMU Non-consolidated ] | ||
[ MUTB Non-consolidated ][ MUTB Non-consolidated : Trust Accounts ] | ||
8. Non Performing Loans Based on the Financial Reconstruction Law (the “FRL”) | 26 | |
[ BTMU and MUTB Combined including Trust Accounts ][ BTMU Non-consolidated ] | ||
[ MUTB Non-consolidated ][ MUTB Non-consolidated : Trust Accounts ] | ||
9. Progress in Disposition of Problem Assets | 30 | |
[ BTMU, MUTB and MUSP Combined including Trust Accounts ]*5 | ||
[ BTMU and MUSP Combined ][ MUTB Non-consolidated including Trust Accounts ] | ||
10. Loans Classified by Type of Industry, Domestic Consumer Loans, Domestic Loans to Small / Medium-Sized Companies and Proprietors | 36 | |
[ BTMU and MUTB Combined including Trust Accounts ][ BTMU Non-consolidated ] | ||
[ MUTB Non-consolidated ][ MUTB Non-consolidated : Trust Accounts ] | ||
11. Overseas Loans | 42 | |
[ BTMU and MUTB Combined] | ||
12. Loans and Deposits | 43 | |
[ BTMU and MUTB Combined ][ BTMU Non-consolidated ][ MUTB Non-consolidated ] | ||
13. Domestic Deposits | 44 | |
[ BTMU and MUTB Combined ][ BTMU Non-consolidated ][ MUTB Non-consolidated ] | ||
14. Status of Deferred Tax Assets | 45 | |
[ BTMU Non-consolidated ][ MUTB Non-consolidated ] | ||
15. Earnings Forecasts for the Fiscal Year Ending March 31, 2009 | 49 | |
[ MUFG Consolidated ][ MUFG Non-consolidated ] | ||
[ BTMU Consolidated ][ BTMU Non-consolidated ] | ||
[ MUTB Consolidated ][ MUTB Non-consolidated ] | ||
(References) | ||
1. Exposure to Securitized Products and Related Investments and GSE Related Investments | 50 | |
2. Financial Statements | 53 | |
[ BTMU Consolidated ][ BTMU Non-consolidated ] | ||
[ MUTB Consolidated ][ MUTB Non-consolidated ] |
(*1) “MUFG” means Mitsubishi UFJ Financial Group, Inc.
(*2) “BTMU” means The Bank of Tokyo-Mitsubishi UFJ, Ltd.
(*3) “MUTB” means Mitsubishi UFJ Trust and Banking Corporation.
(*4) “BTMU and MUTB Combined” means simple sum of “BTMU” and “MUTB” without consolidation processes.
(*5) “MUSP” means MU Strategic Partner, Co., Ltd.
Mitsubishi UFJ Financial Group, Inc.
(in millions of yen) | |||||||||
For the six months ended | Increase (Decrease) (A) - (B) | ||||||||
September 30, 2008 (A) | September 30, 2007 (B) | ||||||||
Gross profits | 1,696,540 | 1,796,866 | (100,326 | ) | |||||
(Gross profits before credit costs for trust accounts) | 1,696,549 | 1,796,899 | (100,349 | ) | |||||
Net interest income | 970,586 | 966,792 | 3,793 | ||||||
Trust fees | 67,097 | 78,972 | (11,875 | ) | |||||
Credit costs for trust accounts (1) | (9 | ) | (32 | ) | 23 | ||||
Net fees and commissions | 505,030 | 547,199 | (42,168 | ) | |||||
Net trading profits | 125,126 | 189,126 | (64,000 | ) | |||||
Net other business profits | 28,699 | 14,775 | 13,924 | ||||||
Net gains (losses) on debt securities | 11,333 | (10,922 | ) | 22,256 | |||||
General and administrative expenses | 1,072,728 | 1,061,473 | 11,255 | ||||||
Amortization of goodwill | 9,727 | 5,525 | 4,202 | ||||||
Net business profits before credit costs for trust accounts, provision for general allowance for credit losses and amortization of goodwill | 633,548 | 740,951 | (107,403 | ) | |||||
Net business profits before credit costs for trust accounts and provision for general allowance for credit losses | 623,820 | 735,425 | (111,605 | ) | |||||
Provision for general allowance for credit losses (2) | 11,001 | (1,946 | ) | 12,947 | |||||
Net business profits* | 634,812 | 733,446 | (98,634 | ) | |||||
Net non-recurring gains (losses) | (446,695 | ) | (235,907 | ) | (210,788 | ) | |||
Credit costs (3) | (345,939 | ) | (265,509 | ) | (80,430 | ) | |||
Losses on loan write-offs | (163,052 | ) | (87,010 | ) | (76,041 | ) | |||
Provision for specific allowance for credit losses | (181,639 | ) | (161,790 | ) | (19,849 | ) | |||
Other credit costs | (1,247 | ) | (16,708 | ) | 15,460 | ||||
Net gains (losses) on equity securities | (75,286 | ) | 54,414 | (129,701 | ) | ||||
Gains on sales of equity securities | 71,840 | 105,818 | (33,977 | ) | |||||
Losses on sales of equity securities | (1,850 | ) | (6,392 | ) | 4,541 | ||||
Losses on write-down of equity securities | (145,276 | ) | (45,010 | ) | (100,265 | ) | |||
Profits (losses) from investments in affiliates | 1,495 | 8,667 | (7,171 | ) | |||||
Other non-recurring gains (losses) | (26,965 | ) | (33,480 | ) | 6,514 | ||||
Ordinary profits | 188,117 | 497,539 | (309,422 | ) | |||||
Net extraordinary gains (losses) | 629 | (47,815 | ) | 48,445 | |||||
Gains on loans written-off (4) | 14,388 | 20,326 | (5,937 | ) | |||||
Gains on sales of equity securities of subsidiaries | 32,814 | — | 32,814 | ||||||
Expenses relating to systems integration | (47,198 | ) | — | (47,198 | ) | ||||
Losses on impairment of fixed assets | (4,879 | ) | (11,421 | ) | 6,541 | ||||
Provision for reserve for losses relating to business restructuring | (197 | ) | (59,603 | ) | 59,406 | ||||
Income before income taxes and others | 188,747 | 449,723 | (260,976 | ) | |||||
Income taxes—current | 47,772 | 65,510 | (17,737 | ) | |||||
Income taxes—deferred | (168 | ) | 127,914 | (128,082 | ) | ||||
Minority interests | 49,120 | (421 | ) | 49,542 | |||||
Net income | 92,023 | 256,721 | (164,697 | ) | |||||
Note:
* | Net business profits = Banking subsidiaries’ net business profits + Other consolidated entities’ gross profits - Other consolidated entities’ general and administrative expenses - Other consolidated entities’ provision for general allowance for credit losses - Amortization of goodwill - Inter-company transactions |
1
Mitsubishi UFJ Financial Group, Inc.
(in millions of yen) | |||||||||
For the six months ended | Increase (Decrease) (A) - (B) | ||||||||
September 30, 2008 (A) | September 30, 2007 (B) | ||||||||
(Reference) | |||||||||
Total credit costs (1)+(2)+(3) | (334,947 | ) | (267,488 | ) | (67,458 | ) | |||
Total credit costs + Gains on loans written-off (1)+(2)+(3)+(4) | (320,558 | ) | (247,161 | ) | (73,396 | ) | |||
Number of consolidated subsidiaries | 246 | 252 | (6 | ) | |||||
Number of affiliated companies accounted for under the equity method | 61 | 44 | 17 | ||||||
2
Mitsubishi UFJ Financial Group, Inc.
(in millions of yen) | |||||||||
For the six months ended | Increase (Decrease) (A) - (B) | ||||||||
September 30, 2008 (A) | September 30, 2007 (B) | ||||||||
Gross profits | 1,101,436 | 1,155,827 | (54,391 | ) | |||||
(Gross profits before credit costs for trust accounts) | 1,101,445 | 1,155,859 | (54,414 | ) | |||||
Net interest income | 745,293 | 722,540 | 22,752 | ||||||
Trust fees | 51,281 | 59,651 | (8,369 | ) | |||||
Credit costs for trust accounts (1) | (9 | ) | (32 | ) | 23 | ||||
Net fees and commissions | 240,420 | 260,253 | (19,833 | ) | |||||
Net trading profits | 45,636 | 100,383 | (54,746 | ) | |||||
Net other business profits | 18,804 | 12,998 | 5,805 | ||||||
Net gains (losses) on debt securities | 15,200 | (13,151 | ) | 28,352 | |||||
General and administrative expenses | 663,317 | 651,072 | 12,245 | ||||||
Net business profits before credit costs for trust accounts and provision for general allowance for credit losses | 438,127 | 504,787 | (66,659 | ) | |||||
Provision for general allowance for credit losses (2) | 16,820 | 7,236 | 9,583 | ||||||
Net business profits | 454,938 | 511,991 | (57,052 | ) | |||||
Net non-recurring gains (losses) | (363,547 | ) | (142,035 | ) | (221,511 | ) | |||
Credit costs (3) | (259,070 | ) | (164,224 | ) | (94,846 | ) | |||
Losses on loan write-offs | (149,268 | ) | (72,641 | ) | (76,627 | ) | |||
Provision for specific allowance for credit losses | (103,373 | ) | (83,714 | ) | (19,658 | ) | |||
Other credit costs | (6,429 | ) | (7,869 | ) | 1,439 | ||||
Net gains (losses) on equity securities | (78,852 | ) | 30,695 | (109,548 | ) | ||||
Gains on sales of equity securities | 62,618 | 84,664 | (22,046 | ) | |||||
Losses on sales of equity securities | (1,107 | ) | (5,533 | ) | 4,426 | ||||
Losses on write-down of equity securities | (140,363 | ) | (48,434 | ) | (91,929 | ) | |||
Other non-recurring gains (losses) | (25,623 | ) | (8,506 | ) | (17,116 | ) | |||
Ordinary profits | 91,391 | 369,955 | (278,563 | ) | |||||
Net extraordinary gains (losses) | 9,327 | 24,583 | (15,256 | ) | |||||
Gains on loans written-off (4) | 12,024 | 18,066 | (6,042 | ) | |||||
Reversal of allowance for losses on investments | 23 | 16,019 | (15,996 | ) | |||||
Reversal of reserve for contingent losses included in credit costs (5) | — | 597 | (597 | ) | |||||
Gains on sales of equity securities of MUFG | 53,676 | — | 53,676 | ||||||
Expenses relating to systems integration | (47,198 | ) | — | (47,198 | ) | ||||
Losses on impairment of fixed assets | (2,752 | ) | (8,249 | ) | 5,497 | ||||
Income before income taxes | 100,718 | 394,539 | (293,820 | ) | |||||
Income taxes—current | 7,915 | 17,804 | (9,888 | ) | |||||
Income taxes—deferred | 35,842 | 127,949 | (92,107 | ) | |||||
Net income | 56,960 | 248,784 | (191,823 | ) | |||||
(Reference) | |||||||||
Total credit costs (1)+(2)+(3)+(5) | (242,259 | ) | (156,423 | ) | (85,836 | ) | |||
Total credit costs + Gains on loans written-off (1)+(2)+(3)+(4)+(5) | (230,235 | ) | (138,357 | ) | (91,878 | ) | |||
3
Mitsubishi UFJ Financial Group, Inc.
(in millions of yen) | |||||||||
For the six months ended | Increase (Decrease) (A) - (B) | ||||||||
September 30, 2008 (A) | September 30, 2007 (B) | ||||||||
Gross profits | 1,295,837 | 1,385,704 | (89,867 | ) | |||||
Net interest income | 886,603 | 867,676 | 18,927 | ||||||
Trust fees | 9,964 | 12,893 | (2,928 | ) | |||||
Net fees and commissions | 318,882 | 372,603 | (53,720 | ) | |||||
Net trading profits | 50,748 | 99,919 | (49,170 | ) | |||||
Net other business profits | 29,637 | 32,611 | (2,974 | ) | |||||
Net gains (losses) on debt securities | 4,773 | 4,639 | 133 | ||||||
General and administrative expenses | 772,151 | 814,165 | (42,014 | ) | |||||
Amortization of goodwill | 3,062 | 1,404 | 1,657 | ||||||
Net business profits before provision for general allowance for credit losses and amortization of goodwill | 526,747 | 572,942 | (46,194 | ) | |||||
Net business profits before provision for general allowance for credit losses | 523,685 | 571,538 | (47,852 | ) | |||||
Provision for general allowance for credit losses (1) | (558 | ) | (792 | ) | 234 | ||||
Net business profits* | 523,127 | 570,745 | (47,618 | ) | |||||
Net non-recurring gains (losses) | (387,994 | ) | (245,126 | ) | (142,868 | ) | |||
Credit costs (2) | (315,683 | ) | (254,811 | ) | (60,872 | ) | |||
Losses on loan write-offs | (157,232 | ) | (85,709 | ) | (71,522 | ) | |||
Provision for specific allowance for credit losses | (154,897 | ) | (150,640 | ) | (4,257 | ) | |||
Other credit costs | (3,553 | ) | (18,461 | ) | 14,908 | ||||
Net gains (losses) on equity securities | (57,118 | ) | 41,168 | (98,286 | ) | ||||
Gains on sales of equity securities | 65,451 | 85,101 | (19,649 | ) | |||||
Losses on sales of equity securities | (1,510 | ) | (6,861 | ) | 5,350 | ||||
Losses on write-down of equity securities | (121,059 | ) | (37,071 | ) | (83,987 | ) | |||
Profits (losses) from investments in affiliates | 2,328 | 5,027 | (2,698 | ) | |||||
Other non-recurring gains (losses) | (17,521 | ) | (36,510 | ) | 18,989 | ||||
Ordinary profits | 135,132 | 325,618 | (190,486 | ) | |||||
Net extraordinary gains (losses) | 138,415 | (43,242 | ) | 181,658 | |||||
Gains on loans written-off (3) | 12,185 | 16,898 | (4,712 | ) | |||||
Gains on sales of equity securities of MUFG | 172,096 | — | 172,096 | ||||||
Expenses relating to systems integration | (47,198 | ) | — | (47,198 | ) | ||||
Losses on impairment of fixed assets | (1,583 | ) | (10,119 | ) | 8,535 | ||||
Provision for reserve for losses relating to business restructuring | — | (59,603 | ) | 59,603 | |||||
Income before income taxes and others | 273,547 | 282,375 | (8,828 | ) | |||||
Income taxes—current | 37,166 | 41,997 | (4,830 | ) | |||||
Income taxes—deferred | 14,409 | 92,455 | (78,046 | ) | |||||
Minority interests | 46,829 | (16,217 | ) | 63,047 | |||||
Net income | 175,142 | 164,140 | 11,001 | ||||||
Note:
* | Net business profits = Net business profits of BTMU + 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. |
4
Mitsubishi UFJ Financial Group, Inc.
(in millions of yen) | |||||||||
For the six months ended | Increase (Decrease) (A) - (B) | ||||||||
September 30, 2008 (A) | September 30, 2007 (B) | ||||||||
(Reference) | |||||||||
Total credit costs (1)+(2) | (316,242 | ) | (255,604 | ) | (60,637 | ) | |||
Total credit costs + Gains on loans written-off (1)+(2)+(3) | (304,056 | ) | (238,706 | ) | (65,350 | ) | |||
Number of consolidated subsidiaries | 159 | 174 | (15 | ) | |||||
Number of affiliated companies accounted for under the equity method | 47 | 49 | (2 | ) | |||||
5
Mitsubishi UFJ Financial Group, Inc.
(in millions of yen) | |||||||||
For the six months ended | Increase (Decrease) (A) - (B) | ||||||||
September 30, 2008 (A) | September 30, 2007 (B) | ||||||||
Gross profits | 923,036 | 940,350 | (17,313 | ) | |||||
Domestic gross profits | 675,142 | 692,409 | (17,267 | ) | |||||
Net interest income | 527,314 | 532,006 | (4,692 | ) | |||||
Net fees and commissions | 132,915 | 148,587 | (15,672 | ) | |||||
Net trading profits | 20,049 | 12,981 | 7,068 | ||||||
Net other business profits | (5,137 | ) | (1,165 | ) | (3,971 | ) | |||
Net gains (losses) on debt securities | 7,962 | 11,340 | (3,377 | ) | |||||
Non-domestic gross profits | 247,894 | 247,941 | (46 | ) | |||||
Net interest income | 137,323 | 84,380 | 52,942 | ||||||
Net fees and commissions | 59,807 | 48,298 | 11,508 | ||||||
Net trading profits | 28,097 | 85,315 | (57,217 | ) | |||||
Net other business profits | 22,666 | 29,945 | (7,279 | ) | |||||
Net gains (losses) on debt securities | 341 | (8,541 | ) | 8,882 | |||||
General and administrative expenses | 563,499 | 551,193 | 12,305 | ||||||
Personnel expenses | 193,473 | 190,223 | 3,249 | ||||||
Non-personnel expenses | 334,415 | 330,444 | 3,970 | ||||||
Taxes | 35,610 | 30,525 | 5,085 | ||||||
Net business profits before provision for general allowance for credit losses | 359,537 | 389,156 | (29,619 | ) | |||||
Provision for general allowance for credit losses (1) | 18,085 | 8,534 | 9,551 | ||||||
Net business profits | 377,622 | 397,690 | (20,068 | ) | |||||
Net non-recurring gains (losses) | (339,730 | ) | (125,507 | ) | (214,222 | ) | |||
Credit costs (2) | (256,747 | ) | (153,237 | ) | (103,509 | ) | |||
Losses on loan write-offs | (147,082 | ) | (71,454 | ) | (75,628 | ) | |||
Provision for specific allowance for credit losses | (103,026 | ) | (72,770 | ) | (30,255 | ) | |||
Other credit costs | (6,638 | ) | (9,012 | ) | 2,374 | ||||
Net gains (losses) on equity securities | (62,349 | ) | 35,646 | (97,995 | ) | ||||
Gains on sales of equity securities | 59,148 | 76,556 | (17,407 | ) | |||||
Losses on sales of equity securities | (814 | ) | (5,060 | ) | 4,246 | ||||
Losses on write-down of equity securities | (120,683 | ) | (35,849 | ) | (84,834 | ) | |||
Other non-recurring gains (losses) | (20,633 | ) | (7,916 | ) | (12,717 | ) | |||
Ordinary profits | 37,892 | 272,183 | (234,290 | ) | |||||
Net extraordinary gains (losses) | 10,807 | 22,118 | (11,310 | ) | |||||
Gains on loans written-off (3) | 10,919 | 14,735 | (3,816 | ) | |||||
Reversal of allowance for losses on investments | 23 | 16,019 | (15,996 | ) | |||||
Gains on sales of equity securities of MUFG | 53,676 | — | 53,676 | ||||||
Expenses relating to systems integration | (47,198 | ) | — | (47,198 | ) | ||||
Losses on impairment of fixed assets | (986 | ) | (4,857 | ) | 3,871 | ||||
Income before income taxes | 48,699 | 294,301 | (245,601 | ) | |||||
Income taxes—current | 8,213 | 18,035 | (9,822 | ) | |||||
Income taxes—deferred | 15,470 | 88,196 | (72,726 | ) | |||||
Net income | 25,016 | 188,069 | (163,052 | ) | |||||
(Reference) | |||||||||
Total credit costs (1)+(2) | (238,662 | ) | (144,703 | ) | (93,958 | ) | |||
Total credit costs + Gains on loans written-off (1)+(2)+(3) | (227,743 | ) | (129,967 | ) | (97,775 | ) | |||
6
Mitsubishi UFJ Financial Group, Inc.
(in millions of yen) | |||||||||
For the six months ended | Increase (Decrease) (A) - (B) | ||||||||
September 30, 2008 (A) | September 30, 2007 (B) | ||||||||
Gross profits | 205,217 | 243,134 | (37,916 | ) | |||||
(Gross profits before credit costs for trust accounts) | 205,226 | 243,166 | (37,939 | ) | |||||
Trust fees | 57,132 | 66,102 | (8,969 | ) | |||||
Trust fees before credit costs for trust accounts | 57,141 | 66,134 | (8,992 | ) | |||||
Loan trusts and money trusts fees (Jointly operated designated money trusts before credit costs for trust accounts) | 4,451 | 10,058 | (5,606 | ) | |||||
Other trust fees | 52,690 | 56,076 | (3,385 | ) | |||||
Credit costs for trust accounts (1) | (9 | ) | (32 | ) | 23 | ||||
Net interest income | 79,939 | 107,189 | (27,249 | ) | |||||
Net fees and commissions | 66,103 | 82,428 | (16,325 | ) | |||||
Net trading profits | 749 | 3,242 | (2,493 | ) | |||||
Net other business profits | 1,293 | (15,828 | ) | 17,121 | |||||
Net gains (losses) on debt securities | 6,896 | (15,950 | ) | 22,846 | |||||
General and administrative expenses | 125,105 | 124,336 | 768 | ||||||
Amortization of goodwill | — | — | — | ||||||
Net business profits before credit costs for trust accounts, provision for general allowance for credit losses and amortization of goodwill | 80,121 | 118,830 | (38,708 | ) | |||||
Net business profits before credit costs for trust accounts and provision for general allowance for credit losses | 80,121 | 118,830 | (38,708 | ) | |||||
Provision for general allowance for credit losses (2) | (1,047 | ) | (1,561 | ) | 514 | ||||
Net business profits* | 79,065 | 117,235 | (38,170 | ) | |||||
Net non-recurring gains (losses) | (24,072 | ) | (15,324 | ) | (8,748 | ) | |||
Credit costs (3) | (2,473 | ) | (11,110 | ) | 8,637 | ||||
Losses on loan write-offs | (2,263 | ) | (1,301 | ) | (961 | ) | |||
Provision for specific allowance for credit losses | (418 | ) | (10,952 | ) | 10,534 | ||||
Other credit costs | 208 | 1,143 | (934 | ) | |||||
Net gains (losses) on equity securities | (16,557 | ) | (4,909 | ) | (11,647 | ) | |||
Gains on sales of equity securities | 3,416 | 8,148 | (4,732 | ) | |||||
Losses on sales of equity securities | (293 | ) | (473 | ) | 180 | ||||
Losses on write-down of equity securities | (19,680 | ) | (12,585 | ) | (7,094 | ) | |||
Profits (losses) from investments in affiliates | 299 | 1,421 | (1,122 | ) | |||||
Other non-recurring gains (losses) | (5,341 | ) | (725 | ) | (4,616 | ) | |||
Ordinary profits | 54,992 | 101,911 | (46,918 | ) | |||||
Net extraordinary gains (losses) | (1,479 | ) | 3,716 | (5,195 | ) | ||||
Gains on loans written-off (4) | 1,157 | 3,401 | (2,243 | ) | |||||
Reversal of reserve for contingent losses included in credit costs (5) | — | 597 | (597 | ) | |||||
Losses on impairment of fixed assets | (1,765 | ) | (416 | ) | (1,349 | ) | |||
Income before income taxes and others | 53,513 | 105,627 | (52,114 | ) | |||||
Income taxes—current | 1,669 | 1,774 | (104 | ) | |||||
Income taxes—deferred | 20,251 | 40,155 | (19,904 | ) | |||||
Minority interests | 856 | 896 | (40 | ) | |||||
Net income | 30,736 | 62,800 | (32,064 | ) | |||||
Notes:
* | Net business profits = Net business profits of MUTB + 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 |
7
Mitsubishi UFJ Financial Group, Inc.
(in millions of yen) | ||||||||
For the six months ended | Increase (Decrease) (A) - (B) | |||||||
September 30, 2008 (A) | September 30, 2007 (B) | |||||||
(Reference) | ||||||||
Total credit costs (1)+(2)+(3)+(5) | (3,529 | ) | (12,107 | ) | 8,578 | |||
Total credit costs + Gains on loans written-off (1)+(2)+(3)+(4)+(5) | (2,371 | ) | (8,706 | ) | 6,334 | |||
Number of consolidated subsidiaries | 27 | 25 | 2 | |||||
Number of affiliated companies accounted for under the equity method | 9 | 9 | — | |||||
8
Mitsubishi UFJ Financial Group, Inc.
(in millions of yen) | |||||||||
For the six months ended | Increase (Decrease) (A) - (B) | ||||||||
September 30, 2008 (A) | September 30, 2007 (B) | ||||||||
Gross profits | 178,399 | 215,476 | (37,077 | ) | |||||
(Gross profits before credit costs for trust accounts)* | 178,408 | 215,509 | (37,100 | ) | |||||
Domestic gross profits | 164,588 | 213,667 | (49,078 | ) | |||||
Trust fees | 51,281 | 59,651 | (8,369 | ) | |||||
Trust fees before credit costs for trust accounts* | 51,290 | 59,683 | (8,392 | ) | |||||
Loan trusts and money trusts fees (Jointly operated designated money trusts before credit costs for trust accounts)* | 4,451 | 10,058 | (5,606 | ) | |||||
Other trust fees | 46,839 | 49,625 | (2,785 | ) | |||||
Credit costs for trust accounts** (1) | (9 | ) | (32 | ) | 23 | ||||
Net interest income | 70,414 | 90,068 | (19,653 | ) | |||||
Net fees and commissions | 48,322 | 63,351 | (15,029 | ) | |||||
Net trading profits | (8,737 | ) | 4,430 | (13,168 | ) | ||||
Net other business profits | 3,307 | (3,834 | ) | 7,142 | |||||
Net gains (losses) on debt securities | 4,856 | (4,225 | ) | 9,081 | |||||
Non-domestic gross profits | 13,810 | 1,809 | 12,001 | ||||||
Trust fees | — | 0 | (0 | ) | |||||
Net interest income | 10,241 | 16,085 | (5,844 | ) | |||||
Net fees and commissions | (624 | ) | 15 | (639 | ) | ||||
Net trading profits | 6,226 | (2,344 | ) | 8,571 | |||||
Net other business profits | (2,032 | ) | (11,947 | ) | 9,914 | ||||
Net gains (losses) on debt securities | 2,040 | (11,725 | ) | 13,765 | |||||
General and administrative expenses | 99,818 | 99,878 | (60 | ) | |||||
Personnel expenses | 31,556 | 30,242 | 1,313 | ||||||
Non-personnel expenses | 62,598 | 63,345 | (746 | ) | |||||
Taxes | 5,662 | 6,289 | (627 | ) | |||||
Net business profits before credit costs for trust accounts and provision for general allowance for credit losses* | 78,589 | 115,630 | (37,040 | ) | |||||
Provision for general allowance for credit losses (2) | (1,264 | ) | (1,297 | ) | 32 | ||||
Net business profits | 77,316 | 114,300 | (36,984 | ) | |||||
Net non-recurring gains (losses) | (23,817 | ) | (16,528 | ) | (7,288 | ) | |||
Credit costs (3) | (2,323 | ) | (10,987 | ) | 8,663 | ||||
Losses on loan write-offs | (2,185 | ) | (1,186 | ) | (998 | ) | |||
Provision for specific allowance for credit losses | (347 | ) | (10,943 | ) | 10,596 | ||||
Other credit costs | 208 | 1,143 | (934 | ) | |||||
Net gains (losses) on equity securities | (16,503 | ) | (4,950 | ) | (11,553 | ) | |||
Gains on sales of equity securities | 3,469 | 8,108 | (4,638 | ) | |||||
Losses on sales of equity securities | (293 | ) | (473 | ) | 180 | ||||
Losses on write-down of equity securities | (19,680 | ) | (12,585 | ) | (7,094 | ) | |||
Other non-recurring gains (losses) | (4,989 | ) | (590 | ) | (4,399 | ) | |||
Ordinary profits | 53,499 | 97,772 | (44,273 | ) | |||||
Net extraordinary gains (losses) | (1,479 | ) | 2,465 | (3,945 | ) | ||||
Gains on loans written-off (4) | 1,105 | 3,330 | (2,225 | ) | |||||
Reversal of reserve for contingent losses included in credit costs (5) | — | 597 | (597 | ) | |||||
Losses on impairment of fixed assets | (1,765 | ) | (3,391 | ) | 1,625 | ||||
Income before income taxes | 52,019 | 100,237 | (48,218 | ) | |||||
Income taxes—current | (297 | ) | (231 | ) | (66 | ) | |||
Income taxes—deferred | 20,371 | 39,752 | (19,381 | ) | |||||
Net income | 31,944 | 60,715 | (28,771 | ) | |||||
Notes: |
* | Amounts before credit costs for loans in trusts with contracts for compensating the principal amounts |
** | Credit costs for loans in trusts with contracts for compensating the principal amounts |
9
Mitsubishi UFJ Financial Group, Inc.
(in millions of yen) | ||||||||
For the six months ended | Increase (Decrease) (A) - (B) | |||||||
September 30, 2008 (A) | September 30, 2007 (B) | |||||||
(Reference) | ||||||||
Total credit costs (1)+(2)+(3)+(5) | (3,597 | ) | (11,720 | ) | 8,122 | |||
Total credit costs + Gains on loans written-off (1)+(2)+(3)+(4)+(5) | (2,492 | ) | (8,389 | ) | 5,896 | |||
10
Mitsubishi UFJ Financial Group, Inc.
2. Average Interest Rate Spread
(percentage per annum) | |||||||
(All branches) | For the six months ended September 30, 2008 (A) | Increase (Decrease) (A) - (B) | For the six months ended September 30, 2007 (B) | ||||
Total average interest rate on interest-earning assets (a) | 2.11 | (0.15 | ) | 2.27 | |||
Average interest rate on loans and bills discounted (b) | 2.22 | (0.11 | ) | 2.33 | |||
Average interest rate on securities | 1.61 | (0.12 | ) | 1.74 | |||
Total average interest rate on interest-bearing liabilities (c) | 1.91 | (0.22 | ) | 2.14 | |||
Average interest rate on deposits and NCD (d) | 0.62 | (0.16 | ) | 0.79 | |||
Average interest rate on other liabilities | 2.64 | (0.30 | ) | 2.95 | |||
Overall interest rate spread (a)-(c) | 0.20 | 0.06 | 0.13 | ||||
Interest rate spread (b)-(d) | 1.59 | 0.05 | 1.53 | ||||
(Domestic business segment) | |||||||
Total average interest rate on interest-earning assets (e) | 1.48 | 0.11 | 1.36 | ||||
Average interest rate on loans and bills discounted (f) | 1.81 | 0.06 | 1.74 | ||||
Average interest rate on securities | 1.13 | 0.13 | 1.00 | ||||
Total average interest rate on interest-bearing liabilities (g) | 1.26 | 0.10 | 1.16 | ||||
Average interest rate on deposits and NCD (h) | 0.29 | 0.04 | 0.24 | ||||
Average interest rate on other liabilities | 1.03 | 0.05 | 0.97 | ||||
Overall interest rate spread (e)-(g) | 0.21 | 0.01 | 0.20 | ||||
Interest rate spread (f)-(h) | 1.51 | 0.01 | 1.50 | ||||
11
Mitsubishi UFJ Financial Group, Inc.
(percentage per annum) | |||||||
(All branches) | For the six months ended September 30, 2008 (A) | Increase (Decrease) (A) - (B) | For the six months ended September 30, 2007 (B) | ||||
Total average interest rate on interest-earning assets (a) | 1.81 | (0.38 | ) | 2.20 | |||
Average interest rate on loans and bills discounted (b) | 1.60 | (0.05 | ) | 1.65 | |||
Average interest rate on securities | 2.23 | (0.90 | ) | 3.13 | |||
Total average interest rate on interest-bearing liabilities (c) | 0.93 | (0.03 | ) | 0.96 | |||
Average interest rate on deposits and NCD (d) | 0.73 | (0.09 | ) | 0.82 | |||
Overall interest rate spread (a)-(c) | 0.88 | (0.34 | ) | 1.23 | |||
Interest rate spread (b)-(d) | 0.87 | 0.04 | 0.82 | ||||
(Domestic business segment) | |||||||
Total average interest rate on interest-earning assets (e) | 1.45 | (0.17 | ) | 1.63 | |||
Average interest rate on loans and bills discounted (f) | 1.50 | 0.05 | 1.44 | ||||
Average interest rate on securities | 1.69 | (0.68 | ) | 2.38 | |||
Total average interest rate on interest-bearing liabilities (g) | 0.57 | 0.14 | 0.42 | ||||
Average interest rate on deposits and NCD (h) | 0.56 | 0.17 | 0.39 | ||||
Overall interest rate spread (e)-(g) | 0.88 | (0.31 | ) | 1.20 | |||
Interest rate spread (f)-(h) | 0.93 | (0.12 | ) | 1.05 | |||
(percentage per annum) | |||||||
(Domestic business segment) | For the six months ended September 30, 2008 (A) | Increase (Decrease) (A) - (B) | For the six months ended September 30, 2007 (B) | ||||
Average interest rate on loans and bills discounted (a) | 1.76 | 0.06 | 1.70 | ||||
Average interest rate on deposits and NCD (b) | 0.32 | 0.06 | 0.25 | ||||
Interest rate spread (a)-(b) | 1.44 | (0.00 | ) | 1.44 | |||
12
Mitsubishi UFJ Financial Group, Inc.
3. Notional Principal by the Remaining Life of the Interest Rate Swaps for Hedge-Accounting
(in billions of yen) | ||||||||
As of September 30, 2008 | ||||||||
within 1 year | 1 year to 5 years | over 5 years | Total | |||||
Receive-fix / pay-floater | 15,437.5 | 10,341.1 | 435.6 | 26,214.4 | ||||
Receive-floater / pay-fix | 1,057.7 | 1,307.6 | 383.5 | 2,748.9 | ||||
Receive-floater / pay-floater | — | — | 20.0 | 20.0 | ||||
Receive-fix / pay-fix | — | — | — | — | ||||
Total | 16,495.3 | 11,648.8 | 839.2 | 28,983.4 | ||||
| ||||||||
(in billions of yen) | ||||||||
As of September 30, 2008 | ||||||||
within 1 year | 1 year to 5 years | over 5 years | Total | |||||
Receive-fix / pay-floater | 14,915.2 | 9,692.0 | 463.2 | 25,070.5 | ||||
Receive-floater / pay-fix | 1,035.7 | 923.0 | 291.4 | 2,250.2 | ||||
Receive-floater / pay-floater | — | — | 20.0 | 20.0 | ||||
Receive-fix / pay-fix | — | — | — | — | ||||
Total | 15,950.9 | 10,615.1 | 774.7 | 27,340.7 | ||||
| ||||||||
(in billions of yen) | ||||||||
As of September 30, 2008 | ||||||||
within 1 year | 1 year to 5 years | over 5 years | Total | |||||
Receive-fix / pay-floater | 1,064.9 | 2,845.7 | 106.0 | 4,016.6 | ||||
Receive-floater / pay-fix | 85.1 | 469.8 | 264.8 | 819.8 | ||||
Receive-floater / pay-floater | — | — | — | — | ||||
Receive-fix / pay-fix | — | — | — | — | ||||
Total | 1,150.0 | 3,315.5 | 370.8 | 4,836.4 | ||||
13
Mitsubishi UFJ Financial Group, Inc.
Fair Value Information on Securities
(in millions of yen) | ||||||||||
As of September 30, 2008 | As of March 31, 2008 | |||||||||
Amount on consolidated balance sheet | Net unrealized gains (losses) | Amount on consolidated balance sheet | Net unrealized gains (losses) | |||||||
Debt securities being held to maturity | 2,378,430 | 7,594 | 2,941,975 | 20,237 | ||||||
Domestic bonds | 2,133,993 | 6,801 | 2,805,196 | 19,153 | ||||||
Government bonds | 1,807,176 | 4,880 | 2,496,983 | 15,133 | ||||||
Municipal bonds | 69,002 | 669 | 71,844 | 1,229 | ||||||
Corporate bonds | 257,813 | 1,251 | 236,368 | 2,790 | ||||||
Other | 244,436 | 793 | 136,778 | 1,083 | ||||||
Foreign bonds | 22,384 | 793 | 20,934 | 1,084 | ||||||
Other | 222,052 | — | 115,844 | (0 | ) | |||||
(in millions of yen) | ||||||||||
As of September 30, 2008 | As of March 31, 2008 | |||||||||
Amount on consolidated balance sheet | Net unrealized gains (losses) | Amount on consolidated balance sheet | Net unrealized gains (losses) | |||||||
Other securities | 34,329,155 | 244 | 36,162,180 | 1,004,875 | ||||||
Domestic equity securities | 5,010,911 | 860,656 | 5,674,702 | 1,377,953 | ||||||
Domestic bonds | 17,658,600 | (10,409 | ) | 17,062,116 | (8,847 | ) | ||||
Government bonds | 15,704,955 | (9,674 | ) | 15,343,602 | (23,065 | ) | ||||
Municipal bonds | 280,684 | 1,148 | 202,574 | 3,767 | ||||||
Corporate bonds | 1,672,961 | (1,883 | ) | 1,515,939 | 10,450 | |||||
Other | 11,659,643 | (850,002 | ) | 13,425,362 | (364,231 | ) | ||||
Foreign equity securities | 144,176 | 27,034 | 192,234 | 95,154 | ||||||
Foreign bonds | 7,213,911 | (102,776 | ) | 8,415,050 | (20,800 | ) | ||||
Other | 4,301,555 | (774,259 | ) | 4,818,077 | (438,584 | ) |
1. | The tables include negotiable certificates of deposits in “Cash and due from banks”, beneficiary certificates of commodity investment trusts in “Monetary claims bought” and others in addition to “Securities”. |
2. | Net unrealized gains (losses) are determined based on the fair values at the end of the fiscal period. |
14
Mitsubishi UFJ Financial Group, Inc.
Fair Value Information on Securities
(in millions of yen) | ||||||||||
As of September 30, 2008 | As of March 31, 2008 | |||||||||
Amount on balance sheet | Net unrealized gains (losses) | Amount on balance sheet | Net unrealized gains (losses) | |||||||
Debt securities being held to maturity | 1,244,506 | (1,681 | ) | 1,888,451 | 2,156 | |||||
Stocks of subsidiaries and affiliates | 394,794 | 431,895 | 564,468 | 230,897 | ||||||
(in millions of yen) | ||||||||||
As of September 30, 2008 | As of March 31, 2008 | |||||||||
Amount on balance sheet | Net unrealized gains (losses) | Amount on balance sheet | Net unrealized gains (losses) | |||||||
Other securities | 26,923,066 | (230,919 | ) | 28,384,703 | 521,370 | |||||
Domestic equity securities | 3,991,368 | 399,919 | 4,521,397 | 813,434 | ||||||
Domestic bonds | 14,530,857 | 4,712 | 14,032,208 | (33,744 | ) | |||||
Other | 8,400,840 | (635,551 | ) | 9,831,097 | (258,318 | ) | ||||
Foreign equity securities | 125,012 | 28,448 | 181,288 | 96,125 | ||||||
Foreign bonds | 4,769,086 | (58,990 | ) | 5,650,087 | (18,028 | ) | ||||
Other | 3,506,741 | (605,009 | ) | 3,999,720 | (336,415 | ) |
1. | The tables include negotiable certificates of deposits in “Cash and due from banks”, beneficiary certificates of commodity investment trusts in “Monetary claims bought” and others in addition to “Securities”. |
2. | Net unrealized gains (losses) are determined based on the fair values at the end of the fiscal period. |
Redemption Schedule of Other Securities with Maturities and Debt Securities Being Held to Maturity
(in millions of yen) | ||||||||
As of September 30, 2008 | ||||||||
within 1 year | 1 year to 5 years | 5 years to 10 years | Over 10 years | |||||
Domestic bonds | 7,694,714 | 5,381,376 | 3,729,421 | 2,077,892 | ||||
Government bonds | 7,053,296 | 2,571,109 | 2,799,183 | 1,430,984 | ||||
Municipal bonds | 11,203 | 67,168 | 176,013 | 414 | ||||
Corporate bonds | 630,214 | 2,743,099 | 754,224 | 646,493 | ||||
Other | 683,441 | 2,183,754 | 1,317,757 | 3,980,730 | ||||
Foreign bonds | 375,054 | 1,955,883 | 553,480 | 2,179,066 | ||||
Other | 308,387 | 227,870 | 764,276 | 1,801,663 | ||||
Total | 8,378,155 | 7,565,131 | 5,047,178 | 6,058,622 | ||||
(in millions of yen) | ||||||||
As of March 31, 2008 | ||||||||
within 1 year | 1 year to 5 years | 5 years to 10 years | Over 10 years | |||||
Domestic bonds | 8,354,643 | 4,949,482 | 3,751,219 | 2,140,905 | ||||
Government bonds | 7,666,459 | 2,236,554 | 2,804,031 | 1,597,262 | ||||
Municipal bonds | 1,934 | 69,182 | 102,839 | 3,440 | ||||
Corporate bonds | 686,249 | 2,643,745 | 844,349 | 540,202 | ||||
Other | 628,813 | 2,324,552 | 1,455,500 | 4,761,405 | ||||
Foreign bonds | 426,815 | 2,072,678 | 633,612 | 2,720,542 | ||||
Other | 201,998 | 251,873 | 821,887 | 2,040,863 | ||||
Total | 8,983,457 | 7,274,034 | 5,206,720 | 6,902,311 |
The tables include negotiable certificates of deposits in “Cash and due from banks”, beneficiary certificates of commodity investment trusts in “Monetary claims bought” and others in addition to “Securities”.
15
Mitsubishi UFJ Financial Group, Inc.
Fair Value Information on Securities
(in millions of yen) | ||||||||||
As of September 30, 2008 | As of March 31, 2008 | |||||||||
Amount on balance sheet | Net unrealized gains (losses) | Amount on balance sheet | Net unrealized gains (losses) | |||||||
Debt securities being held to maturity | 980,554 | 10,633 | 909,383 | 18,023 | ||||||
Stocks of subsidiaries and affiliates | 6,496 | (2,389 | ) | 6,496 | (1,709 | ) | ||||
(in millions of yen) | ||||||||||
As of September 30, 2008 | As of March 31, 2008 | |||||||||
Amount on balance sheet | Net unrealized gains (losses) | Amount on balance sheet | Net unrealized gains (losses) | |||||||
Other securities | 5,837,223 | 9,313 | 6,012,339 | 194,332 | ||||||
Domestic equity securities | 978,406 | 172,506 | 1,075,746 | 250,074 | ||||||
Domestic bonds | 2,710,877 | (12,575 | ) | 2,595,869 | 23,869 | |||||
Other | 2,147,940 | (150,616 | ) | 2,340,723 | (79,610 | ) | ||||
Foreign equity securities | 14,041 | (2,143 | ) | 9,806 | (449 | ) | ||||
Foreign bonds | 1,566,329 | (46,702 | ) | 1,798,001 | (12,541 | ) | ||||
Other | 567,570 | (101,770 | ) | 532,915 | (66,619 | ) |
1. | The tables include negotiable certificates of deposits in “Cash and due from banks”, beneficiary certificates of commodity investment trusts in “Monetary claims bought” and others in addition to “Securities”. |
2. | Net unrealized gains (losses) are determined based on the fair values at the end of the fiscal period. |
Redemption Schedule of Other Securities with Maturities and Debt Securities Being Held to Maturity
(in millions of yen) | ||||||||
As of September 30, 2008 | ||||||||
within 1 year | 1 year to 5 years | 5 years to 10 years | Over 10 years | |||||
Domestic bonds | 503,015 | 2,697,063 | 471,008 | 61,874 | ||||
Government bonds | 457,707 | 2,269,091 | 452,482 | 58,138 | ||||
Municipal bonds | 24,930 | 51,014 | 972 | 51 | ||||
Corporate bonds | 20,377 | 376,956 | 17,554 | 3,684 | ||||
Other | 133,235 | 888,346 | 697,240 | 192,816 | ||||
Foreign bonds | 127,065 | 718,844 | 554,104 | 164,309 | ||||
Other | 6,169 | 169,502 | 143,136 | 28,506 | ||||
Total | 636,250 | 3,585,409 | 1,168,248 | 254,690 | ||||
(in millions of yen) | ||||||||
As of March 31, 2008 | ||||||||
within 1 year | 1 year to 5 years | 5 years to 10 years | Over 10 years | |||||
Domestic bonds | 339,190 | 2,373,863 | 776,156 | 63,960 | ||||
Government bonds | 299,730 | 1,997,284 | 737,671 | 59,552 | ||||
Municipal bonds | 19,499 | 60,824 | 1,599 | 406 | ||||
Corporate bonds | 19,960 | 315,754 | 36,885 | 4,002 | ||||
Other | 109,503 | 856,819 | 901,088 | 257,781 | ||||
Foreign bonds | 107,924 | 703,530 | 757,357 | 227,180 | ||||
Other | 1,579 | 153,289 | 143,730 | 30,600 | ||||
Total | 448,693 | 3,230,683 | 1,677,245 | 321,742 |
The tables include negotiable certificates of deposits in “Cash and due from banks”, beneficiary certificates of commodity investment trusts in “Monetary claims bought” and others in addition to “Securities”.
16
Mitsubishi UFJ Financial Group, Inc.
(%) | |||||||
For the six months ended September 30, 2008 (A) | Increase (Decrease) (A) - (B) | For the six months ended September 30, 2007 (B) | |||||
ROE (*) | 2.58 | (5.32 | ) | 7.90 |
(*) | ROE is computed as follows: |
Net income for six months × 2 - Equivalent of annual dividends on nonconvertible preferred stocks |
x 100 | |
{(Total shareholders’ equity at the beginning of the period - Number of nonconvertible preferred shares at the beginning of the period × Issue price + Foreign currency translation adjustments at the beginning of the period) + (Total shareholders’ equity at the end of the period - Number of nonconvertible preferred shares at the end of the period × Issue price + Foreign currency translation adjustments at the end of the period)} / 2 |
17
Mitsubishi UFJ Financial Group, Inc.
6. Risk-Adjusted Capital Ratio Based on the Basel 2 Standards
(in billions of yen) | |||||||||||||
As of September 30, 2008 (A) (Preliminary basis) | Increase (Decrease) (A) - (B) | As of March 31, 2008 (B) | |||||||||||
(1) | Risk-adjusted capital ratio | 10.55 | % | (0.64 | )% | 11.19 | % | ||||||
Tier 1 ratio | 7.63 | % | 0.02 | % | 7.60 | % | |||||||
(2) | Tier 1 capital | 8,380.4 | 86.7 | 8,293.7 | |||||||||
(3) | Qualified Tier 2 capital | 3,766.0 | (675.7 | ) | 4,441.8 | ||||||||
i) | The amount of unrealized gains on investment securities | — | (462.4 | ) | 462.4 | ||||||||
ii) | The amount of land revaluation excess | 153.4 | (0.8 | ) | 154.2 | ||||||||
iii) | Subordinated debts | 3,439.6 | (199.8 | ) | 3,639.5 | ||||||||
(4) | Qualified Tier 3 capital | — | — | — | |||||||||
(5) | Deductions from total qualifying capital | 556.3 | 36.6 | 519.7 | |||||||||
(6) | Net qualifying capital (2)+(3)+(4)-(5) | 11,590.2 | (625.5 | ) | 12,215.8 | ||||||||
(7) | Risk-adjusted assets | 109,789.1 | 713.5 | 109,075.6 |
(in billions of yen) | |||||||||||||
As of September 30, 2008 (A) (Preliminary basis) | Increase (Decrease) (A) - (B) | As of March 31, 2008 (B) | |||||||||||
(1) | Risk-adjusted capital ratio | 10.63 | % | (0.56 | )% | 11.20 | % | ||||||
Tier 1 ratio | 7.34 | % | (0.08 | )% | 7.43 | % | |||||||
(2) | Tier 1 capital | 6,844.1 | (193.3 | ) | 7,037.5 | ||||||||
(3) | Qualified Tier 2 capital | 3,445.2 | (472.3 | ) | 3,917.5 | ||||||||
i) | The amount of unrealized gains on investment securities | — | (233.7 | ) | 233.7 | ||||||||
ii) | The amount of land revaluation excess | 188.3 | (2.0 | ) | 190.4 | ||||||||
iii) | Subordinated debts | 3,161.1 | (146.7 | ) | 3,307.9 | ||||||||
(4) | Qualified Tier 3 capital | — | — | — | |||||||||
(5) | Deductions from total qualifying capital | 382.4 | 38.3 | 344.1 | |||||||||
(6) | Net qualifying capital (2)+(3)+(4)-(5) | 9,906.9 | (704.0 | ) | 10,611.0 | ||||||||
(7) | Risk-adjusted assets | 93,138.0 | (1,548.8 | ) | 94,686.8 |
18
Mitsubishi UFJ Financial Group, Inc.
(in billions of yen) | |||||||||||||
As of September 30, 2008 (A) (Preliminary basis) | Increase (Decrease) (A) - (B) | As of March 31, 2008 (B) | |||||||||||
(1) | Risk-adjusted capital ratio | 12.73 | % | (0.39 | )% | 13.13 | % | ||||||
Tier 1 ratio | 10.71 | % | 0.77 | % | 9.94 | % | |||||||
(2) | Tier 1 capital | 1,375.7 | 126.7 | 1,248.9 | |||||||||
(3) | Qualified Tier 2 capital | 297.6 | (144.8 | ) | 442.5 | ||||||||
i) | The amount of unrealized gains on investment securities | 6.9 | (82.8 | ) | 89.8 | ||||||||
ii) | The amount of land revaluation excess | (0.9 | ) | 0.2 | (1.1 | ) | |||||||
iii) | Subordinated debts | 291.6 | (62.2 | ) | 353.8 | ||||||||
(4) | Qualified Tier 3 capital | — | — | — | |||||||||
(5) | Deductions from total qualifying capital | 37.9 | (3.3 | ) | 41.3 | ||||||||
(6) | Net qualifying capital (2)+(3)+(4)-(5) | 1,635.4 | (14.7 | ) | 1,650.2 | ||||||||
(7) | Risk-adjusted assets | 12,843.3 | 278.1 | 12,565.1 |
Note: | Risk-adjusted capital ratio of Mitsubishi UFJ Financial Group, Inc. is computed in accordance with the Notification of the Financial Services Agency No.20, 2006. Risk-adjusted capital ratio of The Bank of Tokyo-Mitsubishi UFJ, Ltd. and Mitsubishi UFJ Trust and Banking Corporation are computed in accordance with the Notification of the Financial Services Agency No.19, 2006. |
19
Mitsubishi UFJ Financial Group, Inc.
(1) Risk-Monitored Loans
(in millions of yen) | ||||||||||||||||
As of September 30, 2008 (A) | % to total loans and bills discounted | As of March 31, 2008 (B) | % to total loans and bills discounted | Increase (Decrease) (A) - (B) | % to total loans and bills discounted | |||||||||||
Loans to bankrupt borrowers | 70,362 | 0.07 | % | 43,298 | 0.04 | % | 27,063 | 0.02 | % | |||||||
Non-accrual delinquent loans | 928,338 | 1.02 | % | 737,926 | 0.83 | % | 190,412 | 0.19 | % | |||||||
Accruing loans contractually past due 3 months or more | 17,708 | 0.01 | % | 17,900 | 0.02 | % | (192 | ) | (0.00 | )% | ||||||
Restructured loans | 434,086 | 0.47 | % | 477,544 | 0.53 | % | (43,458 | ) | (0.05 | )% | ||||||
Total risk monitored loans | 1,450,495 | 1.60 | % | 1,276,670 | 1.44 | % | 173,824 | 0.16 | % | |||||||
Total loans and bills discounted | 90,445,118 | 88,538,810 | 1,906,307 | |||||||||||||
Written-off | 779,419 | 691,894 | 87,525 |
(2) Allowance for Credit Losses
(in millions of yen) | ||||||||||||||||
As of September 30, 2008 (A) | % to total risk monitored loans | As of March 31, 2008 (B) | % to total risk monitored loans | Increase (Decrease) (A) - (B) | % to total risk monitored loans | |||||||||||
Allowance for credit losses | 1,106,293 | 76.27 | % | 1,080,502 | 84.63 | % | 25,791 | (8.36 | )% | |||||||
General allowance for credit losses | 753,425 | 776,577 | (23,152 | ) | ||||||||||||
Specific allowance for credit losses | 352,867 | 303,867 | 48,999 | |||||||||||||
Allowance for credit to specific foreign borrowers | 0 | 56 | (56 | ) |
20
Mitsubishi UFJ Financial Group, Inc.
(3) | Classification of Risk-Monitored Loans |
Classified | by Geographic Area |
(in millions of yen) | |||||||
As of September 30, 2008 (A) | As of March 31, 2008 (B) | Increase (Decrease) (A) - (B) | |||||
Domestic | 1,325,800 | 1,217,375 | 108,425 | ||||
Overseas | 124,694 | 59,295 | 65,399 | ||||
Asia | 24,357 | 13,161 | 11,196 | ||||
Indonesia | 664 | 1,936 | (1,271 | ) | |||
Thailand | 1,843 | 1,762 | 81 | ||||
Hong Kong | 3,518 | 3,822 | (304 | ) | |||
Other | 18,331 | 5,640 | 12,691 | ||||
United States of America | 78,929 | 24,840 | 54,089 | ||||
Other | 21,406 | 21,293 | 112 | ||||
Total | 1,450,495 | 1,276,670 | 173,824 | ||||
Classified by Industry
(in millions of yen) | |||||||
As of September 30, 2008 (A) | As of March 31, 2008 (B) | Increase (Decrease) (A) - (B) | |||||
Domestic | 1,325,800 | 1,217,375 | 108,425 | ||||
Manufacturing | 161,168 | 149,993 | 11,174 | ||||
Construction | 64,454 | 43,072 | 21,381 | ||||
Wholesale and retail | 137,625 | 137,395 | 229 | ||||
Finance and insurance | 13,461 | 18,555 | (5,094 | ) | |||
Real estate | 267,735 | 188,233 | 79,502 | ||||
Services | 148,317 | 155,563 | (7,246 | ) | |||
Other industries | 140,449 | 149,814 | (9,365 | ) | |||
Consumer | 392,589 | 374,745 | 17,843 | ||||
Overseas | 124,694 | 59,295 | 65,399 | ||||
Financial institutions | 22,755 | 7,061 | 15,693 | ||||
Commercial and industrial | 94,419 | 46,147 | 48,272 | ||||
Other | 7,519 | 6,086 | 1,433 | ||||
Total | 1,450,495 | 1,276,670 | 173,824 | ||||
Note: | MUTB adjusted its method of monitoring risk-monitored loans classified by industry. As a result, loans to proprietors, which were previously reported as part of “Consumer” are included in “Real estate”. “Real estate” and “Consumer” as of March 31, 2008, as adjusted by using the new method of monitoring, are 197,701 million yen and 365,277 million yen, respectively. |
21
Mitsubishi UFJ Financial Group, Inc.
(1) Risk-Monitored Loans
(in millions of yen) | ||||||||||||||||
As of September 30, 2008 (A) | % to total loans and bills discounted | As of March 31, 2008 (B) | % to total loans and bills discounted | Increase (Decrease) (A) - (B) | % to total loans and bills discounted | |||||||||||
Loans to bankrupt borrowers | 57,094 | 0.07 | % | 36,744 | 0.05 | % | 20,349 | 0.02 | % | |||||||
Non-accrual delinquent loans | 698,665 | 0.96 | % | 530,283 | 0.75 | % | 168,382 | 0.21 | % | |||||||
Accruing loans contractually past due 3 months or more | 11,146 | 0.01 | % | 12,911 | 0.01 | % | (1,764 | ) | (0.00 | )% | ||||||
Restructured loans | 307,889 | 0.42 | % | 333,400 | 0.47 | % | (25,510 | ) | (0.04 | )% | ||||||
Total risk monitored loans | 1,074,795 | 1.48 | % | 913,340 | 1.29 | % | 161,455 | 0.19 | % | |||||||
Total loans and bills discounted | 72,228,207 | 70,397,804 | 1,830,402 | |||||||||||||
Written-off | 552,396 | 484,411 | 67,985 |
(2) Allowance for Credit Losses
(in millions of yen) | ||||||||||||||||
As of September 30, 2008 (A) | % to total risk monitored loans | As of March 31, 2008 (B) | % to total risk monitored loans | Increase (Decrease) (A) - (B) | % to total risk monitored loans | |||||||||||
Allowance for credit losses | 674,415 | 62.74 | % | 640,596 | 70.13 | % | 33,819 | (7.38 | )% | |||||||
General allowance for credit losses | 452,126 | 470,211 | (18,085 | ) | ||||||||||||
Specific allowance for credit losses | 222,289 | 170,328 | 51,960 | |||||||||||||
Allowance for credit to specific foreign borrowers | 0 | 56 | (56 | ) |
(3) Classification of Risk-Monitored Loans
Classified by Geographic Area
(in millions of yen) | |||||||
As of September 30, 2008 (A) | As of March 31, 2008 (B) | Increase (Decrease) (A) - (B) | |||||
Domestic | 1,007,635 | 875,077 | 132,558 | ||||
Overseas | 67,160 | 38,263 | 28,897 | ||||
Asia | 6,796 | 7,560 | (763 | ) | |||
Indonesia | 115 | 1,036 | (921 | ) | |||
Thailand | 1,843 | 1,762 | 81 | ||||
Hong Kong | 3,518 | 3,822 | (304 | ) | |||
Other | 1,318 | 938 | 380 | ||||
United States of America | 42,769 | 13,505 | 29,263 | ||||
Other | 17,594 | 17,197 | 397 | ||||
Total | 1,074,795 | 913,340 | 161,455 | ||||
22
Mitsubishi UFJ Financial Group, Inc.
Classified by Industry
(in millions of yen) | |||||||
As of September 30, 2008 (A) | As of March 31, 2008 (B) | Increase (Decrease) (A) - (B) | |||||
Domestic | 1,007,635 | 875,077 | 132,558 | ||||
Manufacturing | 141,003 | 122,244 | 18,758 | ||||
Construction | 61,324 | 39,954 | 21,369 | ||||
Wholesale and retail | 128,822 | 127,864 | 957 | ||||
Finance and insurance | 9,068 | 5,039 | 4,029 | ||||
Real estate | 236,425 | 174,444 | 61,980 | ||||
Services | 138,295 | 140,177 | (1,882 | ) | |||
Other industries | 134,036 | 135,103 | (1,066 | ) | |||
Consumer | 158,659 | 130,247 | 28,411 | ||||
Overseas | 67,160 | 38,263 | 28,897 | ||||
Financial institutions | 22,755 | 7,061 | 15,693 | ||||
Commercial and industrial | 44,166 | 30,569 | 13,597 | ||||
Other | 238 | 632 | (394 | ) | |||
Total | 1,074,795 | 913,340 | 161,455 | ||||
(1) Risk-Monitored Loans
(in millions of yen) | ||||||||||||||||
As of September 30, 2008 (A) | % to total loans and bills discounted | As of March 31, 2008 (B) | % to total loans and bills discounted | Increase (Decrease) (A) - (B) | % to total loans and bills discounted | |||||||||||
Loans to bankrupt borrowers | 6,259 | 0.06 | % | 1,269 | 0.01 | % | 4,989 | 0.05 | % | |||||||
Non-accrual delinquent loans | 40,287 | 0.41 | % | 53,134 | 0.54 | % | (12,847 | ) | (0.12 | )% | ||||||
Accruing loans contractually past due 3 months or more | 567 | 0.00 | % | 1,446 | 0.01 | % | (879 | ) | (0.00 | )% | ||||||
Restructured loans | 27,493 | 0.28 | % | 35,909 | 0.36 | % | (8,415 | ) | (0.08 | )% | ||||||
Total risk monitored loans | 74,607 | 0.77 | % | 91,759 | 0.93 | % | (17,152 | ) | (0.16 | )% | ||||||
Total loans and bills discounted | 9,600,573 | 9,778,877 | (178,303 | ) | ||||||||||||
Written-off | 44,433 | 30,651 | 13,782 | |||||||||||||
(2) Allowance for Credit Losses
(in millions of yen) | ||||||||||||||||
As of September 30, 2008 (A) | % to total risk monitored loans | As of March 31, 2008 (B) | % to total risk monitored loans | Increase (Decrease) (A) - (B) | % to total risk monitored loans | |||||||||||
Allowance for credit losses | 89,290 | 119.68 | % | 100,756 | 109.80 | % | (11,465 | ) | 9.87 | % | ||||||
General allowance for credit losses | 80,002 | 78,737 | 1,264 | |||||||||||||
Specific allowance for credit losses | 9,287 | 22,018 | (12,730 | ) | ||||||||||||
Allowance for credit to specific foreign borrowers | — | — | — |
23
Mitsubishi UFJ Financial Group, Inc.
(3) Classification of Risk-Monitored Loans
Classified by Geographic Area
(in millions of yen) | |||||||
As of September 30, 2008 (A) | As of March 31, 2008 (B) | Increase (Decrease) (A) - (B) | |||||
Domestic | 70,404 | 89,060 | (18,656 | ) | |||
Overseas | 4,203 | 2,699 | 1,503 | ||||
Asia | 517 | 11 | 506 | ||||
Indonesia | — | 11 | (11 | ) | |||
Thailand | — | — | — | ||||
Hong Kong | — | — | — | ||||
Other | 517 | — | 517 | ||||
United States of America | 3,671 | 2,674 | 997 | ||||
Other | 13 | 14 | (0 | ) | |||
Total | 74,607 | 91,759 | (17,152 | ) | |||
Classified by Industry
(in millions of yen) | |||||||
As of September 30, 2008 (A) | As of March 31, 2008 (B) | Increase (Decrease) (A) - (B) | |||||
Domestic | 70,404 | �� | 89,060 | (18,656 | ) | ||
Manufacturing | 13,974 | 20,403 | (6,429 | ) | |||
Construction | 1,235 | 831 | 404 | ||||
Wholesale and retail | 4,513 | 5,253 | (740 | ) | |||
Finance and insurance | 3,975 | 13,024 | (9,048 | ) | |||
Real estate | 21,068 | 3,771 | 17,297 | ||||
Services | 5,147 | 7,184 | (2,036 | ) | |||
Other industries | 5,671 | 14,159 | (8,488 | ) | |||
Consumer | 14,818 | 24,432 | (9,614 | ) | |||
Overseas | 4,203 | 2,699 | 1,503 | ||||
Financial institutions | — | — | — | ||||
Commercial and industrial | 4,189 | 2,685 | 1,503 | ||||
Other | 13 | 14 | (0 | ) | |||
Total | 74,607 | 91,759 | (17,152 | ) | |||
Note: | MUTB adjusted its method of monitoring risk-monitored loans classified by industry. As a result, loans to proprietors, which were previously reported as part of “Consumer” are included in “Real estate”. “Real estate” and “Consumer” as of March 31, 2008, as adjusted by using the new method of monitoring, are 13,239 million yen and 14,963 million yen, respectively. |
24
Mitsubishi UFJ Financial Group, Inc.
MUTB Non-consolidated: Trust Accounts
“Trust accounts” represents trust accounts with contracts indemnifying the principal amounts.
(1) Risk-Monitored Loans
(in millions of yen) | ||||||||||||||||
As of September 30, 2008 (A) | % to total loans and bills discounted | As of March 31, 2008 (B) | % to total loans and bills discounted | Increase (Decrease) (A) - (B) | % to total loans and bills discounted | |||||||||||
Loans to bankrupt borrowers | 111 | 0.07 | % | 105 | 0.06 | % | 6 | 0.00 | % | |||||||
Non-accrual delinquent loans | 42 | 0.02 | % | 7 | 0.00 | % | 34 | 0.02 | % | |||||||
Accruing loans contractually past due 3 months or more | 41 | 0.02 | % | 74 | 0.04 | % | (32 | ) | (0.01 | )% | ||||||
Restructured loans | 968 | 0.66 | % | 1,081 | 0.70 | % | (112 | ) | (0.04 | )% | ||||||
Total risk monitored loans | 1,164 | 0.80 | % | 1,268 | 0.83 | % | (104 | ) | (0.02 | )% | ||||||
Total loans and bills discounted | 145,226 | 152,562 | (7,335 | ) | ||||||||||||
(2) Allowance for Credit Losses
(in millions of yen) | |||||||
As of September 30, 2008 (A) | As of March 31, 2008 (B) | Increase (Decrease) (A) - (B) | |||||
Special internal reserves | 1,079 | 1,382 | (303 | ) | |||
Allowance for bad debts | 435 | 457 | (22 | ) |
(3) Classification of Risk-Monitored Loans
Classified by Industry
(in millions of yen) | |||||||
As of September 30, 2008 (A) | As of March 31, 2008 (B) | Increase (Decrease) (A) - (B) | |||||
Domestic | 1,164 | 1,268 | (104 | ) | |||
Manufacturing | — | — | — | ||||
Construction | — | — | — | ||||
Wholesale and retail | — | — | — | ||||
Finance and insurance | — | — | — | ||||
Real estate | 391 | 137 | 253 | ||||
Services | 224 | 235 | (11 | ) | |||
Other industries | — | — | — | ||||
Consumer | 549 | 895 | (346 | ) | |||
Total | 1,164 | 1,268 | (104 | ) | |||
Note: | MUTB adjusted its method of monitoring risk-monitored loans classified by industry. As a result, loans to proprietors, which were previously reported as part of “Consumer” are included in “Real estate”. “Real estate” and “Consumer” as of March 31, 2008, as adjusted by using the new method of monitoring, are 397 million yen and 635 million yen, respectively. |
25
Mitsubishi UFJ Financial Group, Inc.
8. Non Performing Loans Based on the Financial Reconstruction Law (the “FRL”)
BTMU and MUTB Combined including Trust Accounts
“Trust accounts” represents trust accounts with contracts indemnifying the principal amounts.
(1) Non Performing Loans
(in millions of yen) | |||||||||
As of September 30, 2008 (A) | As of March 31, 2008 (B) | Increase (Decrease) (A) - (B) | |||||||
Bankrupt or De facto Bankrupt | 149,383 | 117,786 | 31,596 | ||||||
Doubtful | 720,889 | 556,092 | 164,796 | ||||||
Special Attention | 348,024 | 384,684 | (36,660 | ) | |||||
Non Performing Loans (1) | 1,218,296 | 1,058,563 | 159,733 | ||||||
Normal | 93,374,495 | 90,902,911 | 2,471,583 | ||||||
Total | 94,592,791 | 91,961,475 | 2,631,316 | ||||||
Non Performing loans / Total | 1.28 | % | 1.15 | % | 0.13 | % |
(2) Status of Coverage of Non Performing Loans
(in millions of yen) | |||||||||
As of September 30, 2008 (A) | As of March 31, 2008 (B) | Increase (Decrease) (A) - (B) | |||||||
Covered amount (2) | 944,990 | 818,177 | 126,813 | ||||||
Allowance for credit losses | 332,753 | 289,897 | 42,855 | ||||||
Collateral, guarantees, etc. | 612,236 | 528,279 | 83,957 | ||||||
Coverage ratio (2) / (1) | 77.56 | % | 77.29 | % | 0.27 | % |
(3) Coverage Ratio
(in millions of yen) | ||||||||||||||
Category | Loan amount (A) | Allowance for credit losses (B) | Covered by collateral and/or guarantees (C) | Coverage ratio for unsecured portion (B) / [(A)-(C)] | Coverage ratio [(B)+(C)] / (A) | |||||||||
Bankrupt or De facto Bankrupt | 149,383 | 2,812 | 146,570 | 100.00 | % | |||||||||
[117,786 | ] | [3,113 | ] | [114,673 | ] | [100.00 | %] | |||||||
Doubtful | 720,889 | 234,179 | 340,811 | 79.76 | % | |||||||||
[556,092 | ] | [186,299 | ] | [267,191 | ] | [81.54 | %] | |||||||
Special Attention | 348,024 | 95,761 | 124,855 | 63.39 | % | |||||||||
[384,684 | ] | [100,485 | ] | [146,414 | ] | [64.18 | %] | |||||||
Total | 1,218,296 | 332,753 | 612,236 | 77.56 | % | |||||||||
[1,058,563 | ] | [289,897 | ] | [528,279 | ] | [77.29 | %] |
Note: | The upper figures are as of September 30, 2008. The lower figures with bracket are as of March 31, 2008. |
26
Mitsubishi UFJ Financial Group, Inc.
(1) Non Performing Loans
(in millions of yen) | |||||||||
As of September 30, 2008 (A) | As of March 31, 2008 (B) | Increase (Decrease) (A) - (B) | |||||||
Bankrupt or De facto Bankrupt | 136,129 | 108,751 | 27,377 | ||||||
Doubtful | 686,785 | 510,355 | 176,429 | ||||||
Special Attention | 319,036 | 346,311 | (27,275 | ) | |||||
Non Performing Loans (1) | 1,141,950 | 965,419 | 176,531 | ||||||
Normal | 83,412,962 | 80,839,067 | 2,573,895 | ||||||
Total | 84,554,913 | 81,804,486 | 2,750,426 | ||||||
Non Performing loans / Total | 1.35 | % | 1.18 | % | 0.17 | % |
(2) Status of Coverage of Non Performing Loans
(in millions of yen) | |||||||||
As of September 30, 2008 (A) | As of March 31, 2008 (B) | Increase (Decrease) (A) - (B) | |||||||
Covered amount (2) | 879,068 | 741,970 | 137,097 | ||||||
Allowance for credit losses | 315,923 | 258,272 | 57,650 | ||||||
Collateral, guarantees, etc. | 563,144 | 483,698 | 79,446 | ||||||
Coverage ratio (2) / (1) | 76.97 | % | 76.85 | % | 0.12 | % |
(3) Coverage Ratio
(in millions of yen) | |||||||||||||||
Category | Loan amount (A) | Allowance for credit losses (B) | Covered by collateral and/or guarantees (C) | Coverage ratio for unsecured portion (B) / [(A)-(C)] | Coverage ratio [(B)+(C)] / (A) | ||||||||||
Bankrupt or De facto Bankrupt | 136,129 | 2,185 | 133,943 | 100.00 | % | 100.00 | % | ||||||||
[108,751 | ] | [2,907 | ] | [105,844 | ] | [100.00 | %] | [100.00 | %] | ||||||
Doubtful | 686,785 | 226,053 | 317,837 | 61.26 | % | 79.19 | % | ||||||||
[510,355 | ] | [164,774 | ] | [246,273 | ] | [62.39 | %] | [80.54 | %] | ||||||
Special Attention | 319,036 | 87,684 | 111,362 | 42.22 | % | 62.39 | % | ||||||||
[346,311 | ] | [90,590 | ] | [131,580 | ] | [42.18 | %] | [64.15 | %] | ||||||
Total | 1,141,950 | 315,923 | 563,144 | 54.58 | % | 76.97 | % | ||||||||
[965,419 | ] | [258,272 | ] | [483,698 | ] | [53.61 | %] | [76.85 | %] |
Note: The upper figures are as of September 30, 2008. The lower figures with bracket are as of March 31, 2008.
27
Mitsubishi UFJ Financial Group, Inc.
(1) Non Performing Loans
(in millions of yen) | |||||||||
As of September 30, 2008 (A) | As of March 31, 2008 (B) | Increase (Decrease) (A) - (B) | |||||||
Bankrupt or De facto Bankrupt | 13,100 | 8,869 | 4,231 | ||||||
Doubtful | 34,020 | 45,578 | (11,558 | ) | |||||
Special Attention | 28,061 | 37,427 | (9,366 | ) | |||||
Non Performing Loans (1) | 75,181 | 91,875 | (16,694 | ) | |||||
Normal | 9,817,470 | 9,912,550 | (95,080 | ) | |||||
Total | 9,892,651 | 10,004,426 | (111,774 | ) | |||||
Non Performing loans / Total | 0.75 | % | 0.91 | % | (0.15 | )% |
(2) Status of Coverage of Non Performing Loans
(in millions of yen) | |||||||||
As of September 30, 2008 (A) | As of March 31, 2008 (B) | Increase (Decrease) (A) - (B) | |||||||
Covered amount (2) | 64,970 | 75,168 | (10,197 | ) | |||||
Allowance for credit losses | 16,830 | 31,625 | (14,795 | ) | |||||
Collateral, guarantees, etc. | 48,140 | 43,542 | 4,597 | ||||||
Coverage ratio (2) / (1) | 86.41 | % | 81.81 | % | 4.60 | % |
(3) Coverage Ratio
(in millions of yen) | |||||||||||||||
Category | Loan amount (A) | Allowance for credit losses (B) | Covered by collateral and/or guarantees (C) | Coverage ratio for unsecured portion (B) / [(A)-(C)] | Coverage ratio [(B)+(C)] / (A) | ||||||||||
Bankrupt or De facto Bankrupt | 13,100 | 627 | 12,472 | 100.00 | % | 100.00 | % | ||||||||
[8,869 | ] | [205 | ] | [8,663 | ] | [100.00 | %] | [100.00 | %] | ||||||
Doubtful | 34,020 | 8,125 | 22,892 | 73.02 | % | 91.17 | % | ||||||||
[45,578 | ] | [21,524 | ] | [20,766 | ] | [86.74 | %] | [92.78 | %] | ||||||
Special Attention | 28,061 | 8,076 | 12,774 | 52.83 | % | 74.30 | % | ||||||||
[37,427 | ] | [9,894 | ] | [14,112 | ] | [42.44 | %] | [64.14 | %] | ||||||
Total | 75,181 | 16,830 | 48,140 | 62.23 | % | 86.41 | % | ||||||||
[91,875 | ] | [31,625 | ] | [43,542 | ] | [65.43 | %] | [81.81 | %] | ||||||
Note: The upper figures are as of September 30, 2008. The lower figures with bracket are as of March 31, 2008.
28
Mitsubishi UFJ Financial Group, Inc.
MUTB Non-consolidated: Trust Accounts
“Trust accounts” represents trust accounts with contracts indemnifying the principal amounts.
(1) Non Performing Loans
(in millions of yen) | |||||||||
As of September 30, 2008 (A) | As of March 31, 2008 (B) | Increase (Decrease) (A) - (B) | |||||||
Bankrupt or De facto Bankrupt | 153 | 165 | (11 | ) | |||||
Doubtful | 83 | 158 | (74 | ) | |||||
Special Attention | 926 | 944 | (17 | ) | |||||
Non Performing Loans (1) | 1,164 | 1,268 | (104 | ) | |||||
Normal | 144,061 | 151,293 | (7,231 | ) | |||||
Total | 145,226 | 152,562 | (7,335 | ) | |||||
Non Performing loans / Total | 0.80 | % | 0.83 | % | (0.02 | )% |
(2) Status of Coverage of Non Performing Loans
(in millions of yen) | |||||||||
As of September 30, 2008 (A) | As of March 31, 2008 (B) | Increase (Decrease) (A) - (B) | |||||||
Covered amount (2) | 952 | 1,038 | (86 | ) | |||||
Allowance for credit losses | — | — | — | ||||||
Collateral, guarantees, etc. | 952 | 1,038 | (86 | ) | |||||
Coverage ratio (2) / (1) | 81.74 | % | 81.85 | % | (0.10 | )% |
(3) Coverage Ratio
(in millions of yen) | ||||||||||||||
Category | Loan amount (A) | Allowance for credit losses (B) | Covered by collateral and/or guarantees (C) | Coverage ratio for unsecured portion (B) / [(A)-(C)] | Coverage ratio [(B)+(C)] / (A) | |||||||||
Bankrupt or De facto Bankrupt | 153 | — | 153 | 100.00 | % | |||||||||
[165 | ] | [— | ] | [165 | ] | [100.00 | %] | |||||||
Doubtful | 83 | — | 80 | 95.85 | % | |||||||||
[158 | ] | [— | ] | [151 | ] | [95.88 | %] | |||||||
Special Attention | 926 | — | 717 | 77.44 | % | |||||||||
[944 | ] | [— | ] | [721 | ] | [76.32 | %] | |||||||
Total | 1,164 | — | 952 | 81.74 | % | |||||||||
[1,268 | ] | [— | ] | [1,038 | ] | [81.85 | %] | |||||||
Note: | The upper figures are as of September 30, 2008. The lower figures with bracket are as of March 31, 2008. |
29
Mitsubishi UFJ Financial Group, Inc.
9. Progress in Disposition of Problem Assets
BTMU, MUTB and MU Strategic Partner, Co., Ltd. (“MUSP”) Combined including Trust Accounts
“Trust accounts” represents trust accounts with contracts indemnifying the principal amounts. The amounts presented as “during the second half of fiscal 2005” include amounts of The Bank of Tokyo-Mitsubishi UFJ, Ltd., former The Bank of Tokyo-Mitsubishi, Ltd., former UFJ Bank Limited, Mitsubishi UFJ Trust and Banking Corporation, MUSP and Trust accounts. The amounts prior to September 30, 2005 include amounts of former The Bank of Tokyo-Mitsubishi, Ltd., former UFJ Bank Limited, former The Mitsubishi Trust and Banking Corporation, former UFJ Trust Bank Limited, MUSP and Trust accounts.
(A) Historical Trend of Problem Assets Based on the “FRL”
(in billions of yen) | |||||||||||||||||
As of September 30, 2005 | As of March 31, 2006 | As of September 30, 2006 | As of March 31, 2007 | As of September 30, 2007 | As of March 31, 2008 (a) | As of September 30, 2008 (b) | (b) - (a) | ||||||||||
Bankrupt or De facto Bankrupt | 194.5 | 153.3 | 125.2 | 116.3 | 106.7 | 117.8 | 149.4 | 31.5 | |||||||||
Doubtful | 1,266.9 | 749.7 | 500.4 | 652.3 | 723.2 | 560.3 | 725.0 | 164.6 | |||||||||
Total | 1,461.4 | 903.0 | 625.7 | 768.6 | 829.9 | 678.1 | 874.4 | 196.2 | |||||||||
(1) Assets categorized as problem assets based on the “FRL” prior to September 30, 2005 |
| ||||||||||||||||
Bankrupt or De facto Bankrupt | 194.5 | 132.0 | 86.6 | 66.7 | 45.7 | 40.9 | 36.5 | (4.4 | ) | ||||||||
Doubtful | 1,266.9 | 598.3 | 292.2 | 223.0 | 162.4 | 134.3 | 111.5 | (22.8 | ) | ||||||||
Total | 1,461.4 | 730.3 | 378.8 | 289.8 | 208.2 | 175.3 | 148.0 | (27.2 | ) | ||||||||
(2) Assets newly categorized as problem assets based on the “FRL” during the second half of fiscal 2005 |
| ||||||||||||||||
Bankrupt or De facto Bankrupt | 21.2 | 16.3 | 10.2 | 4.5 | 3.1 | 2.9 | (0.2 | ) | |||||||||
Doubtful | 151.4 | 72.1 | 37.4 | 25.7 | 21.4 | 15.0 | (6.3 | ) | |||||||||
Total | 172.6 | 88.5 | 47.6 | 30.3 | 24.6 | 18.0 | (6.6 | ) | |||||||||
(3) Assets newly categorized as problem assets based on the “FRL” during the first half of fiscal 2006 |
| ||||||||||||||||
Bankrupt or De facto Bankrupt | 22.2 | 16.4 | 9.2 | 6.9 | 6.1 | (0.7 | ) | ||||||||||
Doubtful | 136.0 | 63.0 | 29.0 | 21.7 | 18.3 | (3.3 | ) | ||||||||||
Total | 158.3 | 79.4 | 38.3 | 28.6 | 24.4 | (4.1 | ) | ||||||||||
(4) Assets newly categorized as problem assets based on the “FRL” during the second half of fiscal 2006 |
| ||||||||||||||||
Bankrupt or De facto Bankrupt | 22.8 | 19.2 | 14.5 | 10.4 | (4.1 | ) | |||||||||||
Doubtful | 328.7 | 221.4 | 39.0 | 28.2 | (10.7 | ) | |||||||||||
Total | 351.6 | 240.6 | 53.5 | 38.6 | (14.9 | ) | |||||||||||
(5) Assets newly categorized as problem assets based on the “FRL” during the first half of fiscal 2007 |
| ||||||||||||||||
Bankrupt or De facto Bankrupt | 27.9 | 23.1 | 18.8 | (4.2 | ) | ||||||||||||
Doubtful | 284.4 | 151.4 | 84.2 | (67.1 | ) | ||||||||||||
Total | 312.3 | 174.5 | 103.0 | (71.4 | ) | ||||||||||||
(6) Assets newly categorized as problem assets based on the “FRL” during the second half of fiscal 2007 |
| ||||||||||||||||
Bankrupt or De facto Bankrupt | 29.0 | 25.1 | (3.9 | ) | |||||||||||||
Doubtful | 192.4 | 84.7 | (107.6 | ) | |||||||||||||
Total | 221.4 | 109.8 | (111.5 | ) | |||||||||||||
(7) Assets newly categorized as problem assets based on the “FRL” during the first half of fiscal 2008 |
| ||||||||||||||||
Bankrupt or De facto Bankrupt | 49.4 | ||||||||||||||||
Doubtful | 382.9 | ||||||||||||||||
Total | 432.3 | ||||||||||||||||
30
Mitsubishi UFJ Financial Group, Inc.
(B) Progress in Disposition of Problem Assets of the Six Months Ended September 30, 2008
(in billions of yen) | ||||||||||||||
Time of categorization | Total | |||||||||||||
prior to Sep. 30, 2005 | the 2nd half of fiscal 2005 | the 1st half of fiscal 2006 | the 2nd half of fiscal 2006 | the 1st half of fiscal 2007 | the 2nd half of fiscal 2007 | |||||||||
Liquidation | 0.2 | 0.0 | 0.0 | 0.0 | 1.7 | 2.2 | 4.3 | |||||||
Re-constructive treatment | 0.0 | 0.0 | 0.0 | 0.2 | 13.5 | 12.4 | 26.4 | |||||||
Upgrade due to re-constructive treatment | — | — | — | — | — | — | — | |||||||
Loan sales to secondary market | 1.6 | 0.0 | 0.4 | 3.6 | 2.6 | 3.4 | 11.8 | |||||||
Write-offs | 2.8 | 0.1 | 0.5 | 2.5 | 22.6 | 44.3 | 73.0 | |||||||
Other | 22.5 | 6.4 | 3.0 | 8.4 | 30.8 | 49.0 | 120.4 | |||||||
Collection / Repayment | 16.0 | 2.6 | 2.1 | 7.4 | 23.5 | 39.3 | 91.1 | |||||||
Upgraded | 6.5 | 3.7 | 0.9 | 1.0 | 7.3 | 9.6 | 29.2 | |||||||
Total | 27.2 | 6.6 | 4.1 | 14.9 | 71.4 | 111.5 | 236.0 | |||||||
(C) Amount of Outstanding Problem Assets Which Is in Process for Disposition as of September 30, 2008
(in billions of yen) | ||||||||||||||||
Time of categorization | Total | |||||||||||||||
prior to Sep. 30, 2005 | the 2nd half of fiscal 2005 | the 1st half of fiscal 2006 | the 2nd half of fiscal 2006 | the 1st half of fiscal 2007 | the 2nd half of fiscal 2007 | the 1st half of fiscal 2008 | ||||||||||
Legal liquidation | 4.3 | 1.1 | 4.3 | 5.5 | 8.3 | 12.7 | 30.4 | 66.9 | ||||||||
Quasi-legal liquidation | 1.3 | — | — | 0.4 | — | — | 0.4 | 2.1 | ||||||||
Split-off of problem loans | — | — | — | — | — | — | — | — | ||||||||
Partial write-off of small balance loans | 27.2 | 1.7 | 1.7 | 4.1 | 7.6 | 10.8 | 12.4 | 65.8 | ||||||||
Entrusted to the RCC | — | — | — | — | — | — | — | — | ||||||||
Total | 32.9 | 2.9 | 6.1 | 10.2 | 16.0 | 23.5 | 43.2 | 135.0 | ||||||||
31
Mitsubishi UFJ Financial Group, Inc.
The amounts presented as “during the second half of fiscal 2005” include amounts of The Bank of Tokyo-Mitsubishi UFJ, Ltd., former The Bank of Tokyo-Mitsubishi, Ltd., former UFJ Bank Limited and MUSP. The amounts presented prior to September 30, 2005 include amounts of former The Bank of Tokyo-Mitsubishi, Ltd., former UFJ Bank Limited and MUSP.
(A) Historical Trend of Problem Assets Based on the “FRL”
(in billions of yen) | |||||||||||||||||
As of September 30, 2005 | As of March 31, 2006 | As of September 30, 2006 | As of March 31, 2007 | As of September 30, 2007 | As of March 31, 2008 (a) | As of September 30, 2008 (b) | (b) - (a) | ||||||||||
Bankrupt or De facto Bankrupt | 162.1 | 129.9 | 117.3 | 107.7 | 94.8 | 108.8 | 136.1 | 27.3 | |||||||||
Doubtful | 1,106.7 | 683.3 | 459.1 | 579.9 | 652.0 | 514.5 | 690.9 | 176.3 | |||||||||
Total | 1,268.8 | 813.3 | 576.4 | 687.7 | 746.8 | 623.4 | 827.1 | 203.6 | |||||||||
(1) Assets categorized as problem assets based on the “FRL” prior to September 30, 2005 |
| ||||||||||||||||
Bankrupt or De facto Bankrupt | 162.1 | 109.1 | 80.1 | 63.0 | 42.6 | 37.1 | 33.5 | (3.6 | ) | ||||||||
Doubtful | 1,106.7 | 537.8 | 268.0 | 204.4 | 149.3 | 126.6 | 104.9 | (21.7 | ) | ||||||||
Total | 1,268.8 | 646.9 | 348.1 | 267.5 | 191.9 | 163.8 | 138.4 | (25.3 | ) | ||||||||
(2) Assets newly categorized as problem assets based on the “FRL” during the second half of fiscal 2005 |
| ||||||||||||||||
Bankrupt or De facto Bankrupt | 20.8 | 15.2 | 9.0 | 4.0 | 2.9 | 2.8 | (0.0 | ) | |||||||||
Doubtful | 145.4 | 68.8 | 36.0 | 25.3 | 21.1 | 14.8 | (6.3 | ) | |||||||||
Total | 166.3 | 84.0 | 45.1 | 29.3 | 24.0 | 17.6 | (6.3 | ) | |||||||||
(3) Assets newly categorized as problem assets based on the “FRL” during the first half of fiscal 2006 |
| ||||||||||||||||
Bankrupt or De facto Bankrupt | 22.0 | 13.8 | 8.7 | 6.7 | 6.0 | (0.7 | ) | ||||||||||
Doubtful | 122.2 | 54.8 | 23.4 | 17.9 | 15.1 | (2.7 | ) | ||||||||||
Total | 144.2 | 68.6 | 32.1 | 24.7 | 21.2 | (3.4 | ) | ||||||||||
(4) Assets newly categorized as problem assets based on the “FRL” during the second half of fiscal 2006 |
| ||||||||||||||||
Bankrupt or De facto Bankrupt | 21.8 | 18.0 | 14.2 | 10.1 | (4.1 | ) | |||||||||||
Doubtful | 284.6 | 198.1 | 33.4 | 23.6 | (9.7 | ) | |||||||||||
Total | 306.4 | 216.1 | 47.6 | 33.7 | (13.8 | ) | |||||||||||
(5) Assets newly categorized as problem assets based on the “FRL” during the first half of fiscal 2007 |
| ||||||||||||||||
Bankrupt or De facto Bankrupt | 21.3 | 18.9 | 14.7 | (4.1 | ) | ||||||||||||
Doubtful | 255.8 | 129.0 | 80.6 | (48.3 | ) | ||||||||||||
Total | 277.2 | 148.0 | 95.4 | (52.5 | ) | ||||||||||||
(6) Assets newly categorized as problem assets based on the “FRL” during the second half of fiscal 2007 |
| ||||||||||||||||
Bankrupt or De facto Bankrupt | 28.7 | 24.6 | (4.1 | ) | |||||||||||||
Doubtful | 186.3 | 80.3 | (106.0 | ) | |||||||||||||
Total | 215.1 | 104.9 | (110.1 | ) | |||||||||||||
(7) Assets newly categorized as problem assets based on the “FRL” during the first half of fiscal 2008 |
| ||||||||||||||||
Bankrupt or De facto Bankrupt | 44.2 | ||||||||||||||||
Doubtful | 371.3 | ||||||||||||||||
Total | 415.5 | ||||||||||||||||
32
Mitsubishi UFJ Financial Group, Inc.
(B) Progress in Disposition of Problem Assets of the Six Months Ended September 30, 2008
(in billions of yen) | ||||||||||||||
Time of categorization | Total | |||||||||||||
prior to Sep. 30, 2005 | the 2nd half of fiscal 2005 | the 1st half of fiscal 2006 | the 2nd half of fiscal 2006 | the 1st half of fiscal 2007 | the 2nd half of fiscal 2007 | |||||||||
Liquidation | 0.2 | 0.0 | 0.0 | 0.0 | 1.7 | 2.2 | 4.3 | |||||||
Re-constructive treatment | 0.0 | 0.0 | 0.0 | 0.2 | 13.5 | 12.4 | 26.4 | |||||||
Upgrade due to re-constructive treatment | — | — | — | — | — | — | — | |||||||
Loan sales to secondary market | 1.6 | 0.0 | 0.4 | 3.4 | 2.5 | 3.4 | 11.6 | |||||||
Write-offs | 2.6 | 0.0 | 0.5 | 2.5 | 8.2 | 44.3 | 58.3 | |||||||
Other | 20.8 | 6.2 | 2.4 | 7.4 | 26.5 | 47.6 | 111.0 | |||||||
Collection / Repayment | 15.5 | 2.5 | 1.7 | 6.5 | 19.6 | 38.1 | 84.1 | |||||||
Upgraded | 5.2 | 3.6 | 0.6 | 0.9 | 6.8 | 9.4 | 26.9 | |||||||
Total | 25.3 | 6.3 | 3.4 | 13.8 | 52.5 | 110.1 | 211.8 | |||||||
(C) Amount of Outstanding Problem Assets Which Is in Process for Disposition as of September 30, 2008
(in billions of yen) | ||||||||||||||||
Time of categorization | Total | |||||||||||||||
prior to Sep. 30, 2005 | the 2nd half of fiscal 2005 | the 1st half of fiscal 2006 | the 2nd half of fiscal 2006 | the 1st half of fiscal 2007 | the 2nd half of fiscal 2007 | the 1st half of fiscal 2008 | ||||||||||
Legal liquidation | 3.8 | 1.1 | 4.3 | 5.4 | 7.1 | 12.6 | 25.9 | 60.5 | ||||||||
Quasi-legal liquidation | — | — | — | — | — | — | — | — | ||||||||
Split-off of problem loans | — | — | — | — | — | — | — | — | ||||||||
Partial write-off of small balance loans | 24.7 | 1.7 | 1.7 | 3.9 | 7.5 | 10.4 | 11.6 | 61.8 | ||||||||
Entrusted to the RCC | — | — | — | — | — | — | — | — | ||||||||
Total | 28.6 | 2.8 | 6.0 | 9.4 | 14.7 | 23.0 | 37.5 | 122.3 | ||||||||
33
Mitsubishi UFJ Financial Group, Inc.
MUTB Non-consolidated including Trust Accounts
“Trust accounts” represents trust accounts with contracts indemnifying the principal amounts. The amounts presented prior to September 30, 2005 include amounts of former The Mitsubishi Trust and Banking Corporation and former UFJ Trust Bank Limited and Trust accounts.
(A) Historical Trend of Problem Assets Based on the “FRL”
(in billions of yen) | |||||||||||||||||
As of September 30, 2005 | As of March 31, 2006 | As of September 30, 2006 | As of March 31, 2007 | As of September 30, 2007 | As of March 31, 2008 (a) | As of September 30, 2008 (b) | (b) - (a) | ||||||||||
Bankrupt or De facto Bankrupt | 32.3 | 23.3 | 7.9 | 8.5 | 11.9 | 9.0 | 13.2 | 4.2 | |||||||||
Doubtful | 160.2 | 66.3 | 41.3 | 72.3 | 71.1 | 45.7 | 34.1 | (11.6 | ) | ||||||||
Total | 192.6 | 89.7 | 49.2 | 80.9 | 83.0 | 54.7 | 47.3 | (7.4 | ) | ||||||||
(1) Assets categorized as problem assets based on the “FRL” prior to September 30, 2005 |
| ||||||||||||||||
Bankrupt or De facto Bankrupt | 32.3 | 22.9 | 6.5 | 3.7 | 3.1 | 3.8 | 2.9 | (0.8 | ) | ||||||||
Doubtful | 160.2 | 60.4 | 24.1 | 18.5 | 13.1 | 7.6 | 6.5 | (1.0 | ) | ||||||||
Total | 192.6 | 83.4 | 30.6 | 22.3 | 16.3 | 11.4 | 9.5 | (1.8 | ) | ||||||||
(2) Assets newly categorized as problem assets based on the “FRL” during the second half of fiscal 2005 |
| ||||||||||||||||
Bankrupt or De facto Bankrupt | 0.4 | 1.1 | 1.2 | 0.5 | 0.2 | 0.1 | (0.1 | ) | |||||||||
Doubtful | 5.9 | 3.3 | 1.3 | 0.4 | 0.2 | 0.2 | (0.0 | ) | |||||||||
Total | 6.3 | 4.4 | 2.5 | 0.9 | 0.5 | 0.3 | (0.2 | ) | |||||||||
(3) Assets newly categorized as problem assets based on the “FRL” during the first half of fiscal 2006 |
| ||||||||||||||||
Bankrupt or De facto Bankrupt | 0.2 | 2.6 | 0.4 | 0.1 | 0.0 | (0.0 | ) | ||||||||||
Doubtful | 13.8 | 8.2 | 5.6 | 3.7 | 3.1 | (0.6 | ) | ||||||||||
Total | 14.1 | 10.8 | 6.1 | 3.9 | 3.2 | (0.6 | ) | ||||||||||
(4) Assets newly categorized as problem assets based on the “FRL” during the second half of fiscal 2006 |
| ||||||||||||||||
Bankrupt or De facto Bankrupt | 0.9 | 1.1 | 0.3 | 0.3 | (0.0 | ) | |||||||||||
Doubtful | 44.1 | 23.2 | 5.5 | 4.5 | (1.0 | ) | |||||||||||
Total | 45.1 | 24.4 | 5.9 | 4.8 | (1.0 | ) | |||||||||||
(5) Assets newly categorized as problem assets based on the “FRL” during the first half of fiscal 2007 |
| ||||||||||||||||
Bankrupt or De facto Bankrupt | 6.5 | 4.1 | 4.0 | (0.0 | ) | ||||||||||||
Doubtful | 28.6 | 22.3 | 3.5 | (18.8 | ) | ||||||||||||
Total | 35.1 | 26.4 | 7.5 | (18.9 | ) | ||||||||||||
(6) Assets newly categorized as problem assets based on the “FRL” during the second half of fiscal 2007 |
| ||||||||||||||||
Bankrupt or De facto Bankrupt | 0.2 | 0.4 | 0.1 | ||||||||||||||
Doubtful | 6.0 | 4.4 | (1.6 | ) | |||||||||||||
Total | 6.3 | 4.9 | (1.4 | ) | |||||||||||||
(7) Assets newly categorized as problem assets based on the “FRL” during the first half of fiscal 2008 |
| ||||||||||||||||
Bankrupt or De facto Bankrupt | 5.2 | ||||||||||||||||
Doubtful | 11.5 | ||||||||||||||||
Total | 16.7 | ||||||||||||||||
34
Mitsubishi UFJ Financial Group, Inc.
(B) Progress in Disposition of Problem Assets of the Six Months Ended September 30, 2008
(in billions of yen) | ||||||||||||||
Time of categorization | Total | |||||||||||||
prior to Sep. 30, 2005 | the 2nd half of fiscal 2005 | the 1st half of fiscal 2006 | the 2nd half of fiscal 2006 | the 1st half of fiscal 2007 | the 2nd half of fiscal 2007 | |||||||||
Liquidation | — | — | — | — | — | — | — | |||||||
Re-constructive treatment | — | — | — | — | — | — | — | |||||||
Upgrade due to re-constructive treatment | — | — | — | — | — | — | — | |||||||
Loan sales to secondary market | — | — | — | 0.1 | 0.0 | — | 0.2 | |||||||
Write-offs | 0.1 | 0.0 | 0.0 | 0.0 | 14.4 | 0.0 | 14.6 | |||||||
Other | 1.7 | 0.1 | 0.6 | 0.9 | 4.3 | 1.4 | 9.3 | |||||||
Collection / Repayment | 0.4 | 0.1 | 0.4 | 0.9 | 3.8 | 1.2 | 6.9 | |||||||
Upgraded | 1.2 | 0.0 | 0.2 | 0.0 | 0.5 | 0.2 | 2.3 | |||||||
Total | 1.8 | 0.2 | 0.6 | 1.0 | 18.9 | 1.4 | 24.1 | |||||||
(C) Amount of Outstanding Problem Assets Which Is in Process for Disposition as of September 30, 2008
(in billions of yen) | ||||||||||||||||
Time of categorization | Total | |||||||||||||||
prior to Sep. 30, 2005 | the 2nd half of fiscal 2005 | the 1st half of fiscal 2006 | the 2nd half of fiscal 2006 | the 1st half of fiscal 2007 | the 2nd half of fiscal 2007 | the 1st half of fiscal 2008 | ||||||||||
Legal liquidation | 0.4 | 0.0 | 0.0 | 0.0 | 1.1 | 0.0 | 4.5 | 6.4 | ||||||||
Quasi-legal liquidation | 1.3 | — | — | 0.4 | — | — | 0.4 | 2.1 | ||||||||
Split-off of problem loans | — | — | — | — | — | — | — | — | ||||||||
Partial write-off of small balance loans | 2.5 | 0.0 | 0.0 | 0.2 | 0.0 | 0.3 | 0.7 | 4.0 | ||||||||
Entrusted to the RCC | — | — | — | — | — | — | — | — | ||||||||
Total | 4.2 | 0.1 | 0.0 | 0.7 | 1.2 | 0.4 | 5.6 | 12.6 | ||||||||
35
Mitsubishi UFJ Financial Group, Inc.
10. Loans Classified by Type of Industry, Domestic Consumer Loans, Domestic Loans to Small/Medium-Sized Companies and Proprietors
BTMU and MUTB Combined including Trust Accounts
(1) Loans Classified by Type of Industry
(in millions of yen) | |||||||
As of September 30, 2008 (A) | Increase (Decrease) (A) - (B) | As of March 31, 2008 (B) | |||||
Domestic offices (excluding loans booked at offshore markets) | 67,287,987 | (988,252 | ) | 68,276,239 | |||
Manufacturing | 8,278,969 | 119,620 | 8,159,349 | ||||
Agriculture | 25,527 | 7 | 25,520 | ||||
Forestry | 11,928 | (4,087 | ) | 16,015 | |||
Fishery | 6,264 | (31,306 | ) | 37,570 | |||
Mining | 58,789 | 6,577 | 52,212 | ||||
Construction | 1,388,413 | (44,647 | ) | 1,433,060 | |||
Utilities | 627,992 | (105,299 | ) | 733,291 | |||
Communication and information services | 1,764,884 | (37,219 | ) | 1,802,103 | |||
Wholesale and retail | 7,153,278 | 202,788 | 6,950,490 | ||||
Finance and insurance | 7,295,524 | 189,773 | 7,105,751 | ||||
Real estate | 10,416,748 | 1,448,262 | 8,968,486 | ||||
Services | 5,585,827 | (950,102 | ) | 6,535,929 | |||
Municipal government | 785,576 | (27,684 | ) | 813,260 | |||
Other industries | 23,888,257 | (1,754,935 | ) | 25,643,192 | |||
Overseas offices and loans booked at offshore markets | 14,771,949 | 2,612,699 | 12,159,250 | ||||
Total | 82,059,936 | 1,624,446 | 80,435,489 | ||||
Note: | Starting in this fiscal period, BTMU and MUTB adjusted their method of monitoring loans classified by type of industry. As a result, among other changes, loans to proprietors, which were previously reported as part of “Other industries”, are included in “Real estate”. |
The amounts as of March 31, 2008, as adjusted by using the new method of monitoring, are shown below:
(in millions of yen) | |||||||
As of September 30, 2008 (A) | Increase (Decrease) (A) - (B) | As of March 31, 2008 (B) | |||||
Domestic offices (excluding loans booked at offshore markets) | 67,287,987 | (988,252 | ) | 68,276,239 | |||
Manufacturing | 8,278,969 | (43,690 | ) | 8,322,659 | |||
Agriculture | 25,527 | 1,912 | 23,615 | ||||
Forestry | 11,928 | (4,085 | ) | 16,013 | |||
Fishery | 6,264 | (31,233 | ) | 37,497 | |||
Mining | 58,789 | 7,715 | 51,074 | ||||
Construction | 1,388,413 | (67,264 | ) | 1,455,677 | |||
Utilities | 627,992 | (105,181 | ) | 733,173 | |||
Communication and information services | 1,764,884 | 38,015 | 1,726,869 | ||||
Wholesale and retail | 7,153,278 | 507 | 7,152,771 | ||||
Finance and insurance | 7,295,524 | 115,606 | 7,179,918 | ||||
Real estate | 10,416,748 | (320,555 | ) | 10,737,303 | |||
Services | 5,585,827 | (143,871 | ) | 5,729,698 | |||
Municipal government | 785,576 | (27,681 | ) | 813,257 | |||
Other industries | 23,888,257 | (408,447 | ) | 24,296,704 | |||
Overseas offices and loans booked at offshore markets | 14,771,949 | 2,612,699 | 12,159,250 | ||||
Total | 82,059,936 | 1,624,446 | 80,435,489 | ||||
36
Mitsubishi UFJ Financial Group, Inc.
(2) Domestic Consumer Loans
(in millions of yen) | |||||||
As of September 30, 2008 (A) | Increase (Decrease) (A) - (B) | As of March 31, 2008 (B) | |||||
Total domestic consumer loans | 18,157,441 | (182,458 | ) | 18,339,899 | |||
Housing loans | 17,235,038 | (123,200 | ) | 17,358,239 | |||
Residential purpose | 13,609,005 | (66,809 | ) | 13,675,815 | |||
Other | 922,402 | (59,257 | ) | 981,660 | |||
(3) Domestic Loans to Small/Medium-Sized Companies and Proprietors
(in millions of yen) | |||||||||
As of September 30, 2008 (A) | Increase (Decrease) (A) - (B) | As of March 31, 2008 (B) | |||||||
Outstanding amount | 42,866,452 | (887,477 | ) | 43,753,929 | |||||
% to total domestic loans | 63.70 | % | (0.37 | )% | 64.08 | % |
Note: | Starting in this fiscal period, BTMU adjusted its method of monitoring domestic loans to small/medium-sized companies and proprietors in the same manner as its method of monitoring loans classified by type of industry shown above. |
“Outstanding amount” and “% to total domestic loans” as of March 31, 2008, as adjusted by using the new method of monitoring, are 43,519,282 million yen and 63.74%, respectively.
37
Mitsubishi UFJ Financial Group, Inc.
(1) Loans Classified by Type of Industry
(in millions of yen) | |||||||
As of September 30, 2008 (A) | Increase (Decrease) (A) - (B) | As of March 31, 2008 (B) | |||||
Domestic offices (excluding loans booked at offshore markets) | 57,787,477 | (745,110 | ) | 58,532,587 | |||
Manufacturing | 6,839,036 | 25,755 | 6,813,281 | ||||
Agriculture | 25,243 | 239 | 25,004 | ||||
Forestry | 11,928 | (4,087 | ) | 16,015 | |||
Fishery | 6,264 | (229 | ) | 6,493 | |||
Mining | 49,522 | 1,789 | 47,733 | ||||
Construction | 1,224,020 | (61,944 | ) | 1,285,964 | |||
Utilities | 415,735 | 6,075 | 409,660 | ||||
Communication and information services | 840,370 | 3,177 | 837,193 | ||||
Wholesale and retail | 6,410,338 | 204,684 | 6,205,654 | ||||
Finance and insurance | 5,373,631 | 347,774 | 5,025,857 | ||||
Real estate | 8,460,123 | 1,079,860 | 7,380,263 | ||||
Services | 4,647,658 | (972,162 | ) | 5,619,820 | |||
Municipal government | 736,907 | (29,797 | ) | 766,704 | |||
Other industries | 22,746,702 | (1,346,244 | ) | 24,092,946 | |||
Overseas offices and loans booked at offshore markets | 14,440,729 | 2,575,513 | 11,865,216 | ||||
Total | 72,228,207 | 1,830,402 | 70,397,804 | ||||
Note: | Starting in this fiscal period, BTMU adjusted its method of monitoring loans classified by type of industry. This adjustment was made to unify the respective monitoring methods previously used by Bank of Tokyo-Mitsubishi and UFJ Bank. As a result, among other changes, loans to proprietors, which were previously reported as part of “Other industries”, are included in “Real estate”. |
The amounts as of March 31, 2008, as adjusted by using the new method of monitoring, are shown below:
(in millions of yen) | |||||||
As of September 30, 2008 (A) | Increase (Decrease) (A) - (B) | As of March 31, 2008 (B) | |||||
Domestic offices (excluding loans booked at offshore markets) | 57,787,477 | (745,110 | ) | 58,532,587 | |||
Manufacturing | 6,839,036 | (137,555 | ) | 6,976,591 | |||
Agriculture | 25,243 | 2,144 | 23,099 | ||||
Forestry | 11,928 | (4,085 | ) | 16,013 | |||
Fishery | 6,264 | (156 | ) | 6,420 | |||
Mining | 49,522 | 2,927 | 46,595 | ||||
Construction | 1,224,020 | (84,561 | ) | 1,308,581 | |||
Utilities | 415,735 | 6,193 | 409,542 | ||||
Communication and information services | 840,370 | 78,411 | 761,959 | ||||
Wholesale and retail | 6,410,338 | 2,403 | 6,407,935 | ||||
Finance and insurance | 5,373,631 | 273,607 | 5,100,024 | ||||
Real estate | 8,460,123 | (291,920 | ) | 8,752,043 | |||
Services | 4,647,658 | (165,931 | ) | 4,813,589 | |||
Municipal government | 736,907 | (29,794 | ) | 766,701 | |||
Other industries | 22,746,702 | (396,793 | ) | 23,143,495 | |||
Overseas offices and loans booked at offshore markets | 14,440,729 | 2,575,513 | 11,865,216 | ||||
Total | 72,228,207 | 1,830,402 | 70,397,804 | ||||
38
Mitsubishi UFJ Financial Group, Inc.
(2) Domestic Consumer Loans
(in millions of yen) | |||||||
As of September 30, 2008 (A) | Increase (Decrease) (A) - (B) | As of March 31, 2008 (B) | |||||
Total domestic consumer loans | 17,034,432 | (157,557 | ) | 17,191,989 | |||
Housing loans | 16,133,099 | (100,103 | ) | 16,233,203 | |||
Residential purpose | 12,857,211 | (56,708 | ) | 12,913,920 | |||
Other | 901,332 | (57,453 | ) | 958,786 | |||
(3) Domestic Loans to Small/Medium-Sized Companies and Proprietors
(in millions of yen) | |||||||||
As of September 30, 2008 (A) | Increase (Decrease) (A) - (B) | As of March 31, 2008 (B) | |||||||
Outstanding amount | 38,029,975 | (865,974 | ) | 38,895,949 | |||||
% to total domestic loans | 65.81 | % | (0.64 | )% | 66.45 | % |
Note: | Starting in this fiscal period, BTMU adjusted its method of monitoring domestic loans to small/medium-sized companies and proprietors in the same manner as to its method of monitoring loans classified by type of industry shown above. |
“Outstanding amount” and “% to total domestic loans” as of March 31, 2008, as adjusted by using the new method of monitoring, are 38,661,302 million yen and 66.05%, respectively.
39
Mitsubishi UFJ Financial Group, Inc.
(1) Loans Classified by Type of Industry
(in millions of yen) | |||||||
As of September 30, 2008 (A) | Increase (Decrease) (A) - (B) | As of March 31, 2008 (B) | |||||
Domestic offices (excluding loans booked at offshore markets) | 9,269,353 | (215,489 | ) | 9,484,843 | |||
Manufacturing | 1,438,852 | 93,938 | 1,344,914 | ||||
Agriculture | 284 | (232 | ) | 516 | |||
Forestry | — | — | — | ||||
Fishery | — | (31,077 | ) | 31,077 | |||
Mining | 9,267 | 4,788 | 4,479 | ||||
Construction | 164,393 | 17,297 | 147,096 | ||||
Utilities | 211,197 | (111,013 | ) | 322,210 | |||
Communication and information services | 919,110 | (39,626 | ) | 958,736 | |||
Wholesale and retail | 742,940 | (1,869 | ) | 744,809 | |||
Finance and insurance | 1,912,782 | (157,645 | ) | 2,070,427 | |||
Real estate | 1,923,365 | 349,060 | 1,574,305 | ||||
Services | 935,534 | 22,225 | 913,309 | ||||
Municipal government | 24,394 | 3,126 | 21,268 | ||||
Other industries | 987,228 | (364,463 | ) | 1,351,691 | |||
Overseas offices and loans booked at offshore markets | 331,219 | 37,186 | 294,033 | ||||
Total | 9,600,573 | (178,303 | ) | 9,778,877 | |||
Note: | Starting in this fiscal period, MUTB adjusted its method of monitoring loans classified by type of industry. As a result, among other changes, loans to proprietors, which were previously reported as part of “Other industries”, are included in “Real estate”. |
The amounts of “Real estate” and “Other industries” as of March 31, 2008, as adjusted by using the new method of monitoring, are 1,946,629 million yen and 979,367 million yen, respectively.
(2) Domestic Consumer Loans
(in millions of yen) | |||||||
As of September 30, 2008 (A) | Increase (Decrease) (A) - (B) | As of March 31, 2008 (B) | |||||
Total domestic consumer loans | 1,041,137 | (21,359 | ) | 1,062,497 | |||
Housing loans | 1,020,893 | (19,648 | ) | 1,040,542 | |||
Residential purpose | 674,970 | (6,947 | ) | 681,917 | |||
Other | 20,244 | (1,710 | ) | 21,955 | |||
(3) Domestic Loans to Small/Medium-Sized Companies and Proprietors
(in millions of yen) | |||||||||
As of September 30, 2008 (A) | Increase (Decrease) (A) - (B) | As of March 31, 2008 (B) | |||||||
Outstanding amount | 4,637,140 | 4,015 | 4,633,125 | ||||||
% to total domestic loans | 50.02 | % | 1.17 | % | 48.84 | % |
40
Mitsubishi UFJ Financial Group, Inc.
MUTB Non-consolidated : Trust Accounts
(1) Loans Classified by Type of Industry
(in millions of yen) | |||||||
As of September 30, 2008 (A) | Increase (Decrease) (A) - (B) | As of March 31, 2008 (B) | |||||
Domestic offices (excluding loans booked at offshore markets) | 231,155 | (27,652 | ) | 258,808 | |||
Manufacturing | 1,081 | (73 | ) | 1,154 | |||
Agriculture | — | — | — | ||||
Forestry | — | — | — | ||||
Fishery | — | — | — | ||||
Mining | — | — | — | ||||
Construction | — | — | — | ||||
Utilities | 1,060 | (361 | ) | 1,421 | |||
Communication and information services | 5,404 | (770 | ) | 6,174 | |||
Wholesale and retail | — | (27 | ) | 27 | |||
Finance and insurance | 9,111 | (356 | ) | 9,467 | |||
Real estate | 33,260 | 19,342 | 13,918 | ||||
Services | 2,635 | (165 | ) | 2,800 | |||
Municipal government | 24,275 | (1,013 | ) | 25,288 | |||
Other industries | 154,327 | (44,228 | ) | 198,555 | |||
Overseas offices and loans booked at offshore markets | — | — | — | ||||
Total | 231,155 | (27,652 | ) | 258,808 | |||
Note: | Starting in this fiscal period, MUTB adjusted its method of monitoring loans classified by type of industry. As a result, among other changes, loans to proprietors, which were previously reported as part of “Other industries”, are included in “Real estate”. |
The amounts of “Real estate” and “Other industries” as of March 31, 2008, as adjusted by using the new method of monitoring, are 38,631 million yen and 173,842 million yen, respectively.
(2) Domestic Consumer Loans
(in millions of yen) | |||||||
As of September 30, 2008 (A) | Increase (Decrease) (A) - (B) | As of March 31, 2008 (B) | |||||
Total domestic consumer loans | 81,871 | (3,541 | ) | 85,412 | |||
Housing loans | 81,045 | (3,447 | ) | 84,493 | |||
Residential purpose | 76,823 | (3,153 | ) | 79,977 | |||
Other | 825 | (93 | ) | 918 | |||
(3) Domestic Loans to Small/Medium-Sized Companies and Proprietors
(in millions of yen) | |||||||||
As of September 30, 2008 (A) | Increase (Decrease) (A) - (B) | As of March 31, 2008 (B) | |||||||
Outstanding amount | 199,337 | (25,518 | ) | 224,855 | |||||
% to total domestic loans | 86.23 | % | (0.64 | )% | 86.88 | % |
41
Mitsubishi UFJ Financial Group, Inc.
(1) Loans to Asian Countries
(in millions of yen) | ||||||
As of September 30, 2008 (A) | Increase (Decrease) (A) - (B) | As of March 31, 2008 (B) | ||||
Thailand | 531,422 | 29,856 | 501,566 | |||
Indonesia | 266,126 | 52,170 | 213,956 | |||
Malaysia | 284,986 | 178,199 | 106,786 | |||
Philippines | 65,927 | 1,611 | 64,316 | |||
South Korea | 280,637 | 29,210 | 251,427 | |||
Singapore | 740,178 | 145,016 | 595,161 | |||
Hong Kong | 879,761 | 125,674 | 754,086 | |||
China | 79,787 | 50,262 | 29,525 | |||
Taiwan | 201,520 | 31,675 | 169,844 | |||
Other | 387,424 | 64,417 | 323,007 | |||
Total | 3,717,772 | 708,095 | 3,009,677 | |||
(2) Loans to Latin American Countries
(in millions of yen) | ||||||
As of September 30, 2008 (A) | Increase (Decrease) (A) - (B) | As of March 31, 2008 (B) | ||||
Argentina | 3,039 | 226 | 2,813 | |||
Brazil | 156,978 | 36,937 | 120,040 | |||
Mexico | 112,008 | 30,856 | 81,152 | |||
Caribbean countries | 883,627 | 169,609 | 714,017 | |||
Other | 118,835 | 42,533 | 76,301 | |||
Total | 1,274,489 | 280,163 | 994,326 | |||
42
Mitsubishi UFJ Financial Group, Inc.
(in millions of yen) | |||||||
As of September 30, 2008 (A) | Increase (Decrease) (A) - (B) | As of March 31, 2008 (B) | |||||
Deposits (ending balance) | 112,760,288 | (1,320,781 | ) | 114,081,070 | |||
Deposits (average balance) | 112,148,267 | 1,417,831 | 110,730,436 | ||||
Loans (ending balance) | 81,828,780 | 1,652,099 | 80,176,681 | ||||
Loans (average balance) | 80,162,737 | 2,614,664 | 77,548,072 |
(in millions of yen) | |||||||
As of September 30, 2008 (A) | Increase (Decrease) (A) - (B) | As of March 31, 2008 (B) | |||||
Deposits (ending balance) | 99,767,246 | (2,094,307 | ) | 101,861,554 | |||
Deposits (average balance) | 99,536,114 | 669,104 | 98,867,010 | ||||
Loans (ending balance) | 72,228,207 | 1,830,402 | 70,397,804 | ||||
Loans (average balance) | 70,632,331 | 2,658,678 | 67,973,653 |
(in millions of yen) | |||||||
As of September 30, 2008 (A) | Increase (Decrease) (A) - (B) | As of March 31, 2008 (B) | |||||
Deposits (ending balance) | 12,993,042 | 773,526 | 12,219,516 | ||||
Deposits (average balance) | 12,612,152 | 748,727 | 11,863,425 | ||||
Loans (ending balance) | 9,600,573 | (178,303 | ) | 9,778,877 | |||
Loans (average balance) | 9,530,405 | (44,014 | ) | 9,574,419 |
43
Mitsubishi UFJ Financial Group, Inc.
(in millions of yen) | |||||||
As of September 30, 2008 (A) | Increase (Decrease) (A) - (B) | As of March 31, 2008 (B) | |||||
Individuals | 62,672,294 | 77,560 | 62,594,734 | ||||
Corporations and others | 39,020,109 | (702,227 | ) | 39,722,337 | |||
Domestic deposits | 101,692,404 | (624,667 | ) | 102,317,071 |
1. | Amounts do not include negotiable certificates of deposit and JOM accounts. |
2. | Upon the installation of new IT systems in May 2008, BTMU adjusted its method of monitoring deposits from individuals and, starting in this fiscal year, deposits from unincorporated associations are excluded from “Individuals” and included in “Corporations and others”. The amount of deposits from “Individuals” and “Corporations and others” (a simple sum of BTMU and MUTB) as of March 31, 2008, as adjusted by using the new method of monitoring, are 61,836,290 million yen and 40,480,781 million yen, respectively. |
(in millions of yen) | |||||||
As of September 30, 2008 (A) | Increase (Decrease) (A) - (B) | As of March 31, 2008 (B) | |||||
Individuals | 53,796,510 | (296,796 | ) | 54,093,306 | |||
Corporations and others | 35,960,519 | (953,215 | ) | 36,913,734 | |||
Domestic deposits | 89,757,029 | (1,250,011 | ) | 91,007,040 |
1. | Amounts do not include negotiable certificates of deposit and JOM accounts. |
2. | Upon the installation of new IT systems in May 2008, BTMU adjusted its method of monitoring deposits from individuals and, starting in this fiscal year, deposits from unincorporated associations are excluded from “Individuals” and included in “Corporations and others”. The amount of deposits from “Individuals” and “Corporations and others” as of March 31, 2008, as adjusted by using the new method of monitoring, are 53,334,862 million yen and 37,672,178 million yen, respectively. |
(in millions of yen) | ||||||
As of September 30, 2008 (A) | Increase (Decrease) (A) - (B) | As of March 31, 2008 (B) | ||||
Individuals | 8,875,784 | 374,356 | 8,501,428 | |||
Corporations and others | 3,059,589 | 250,987 | 2,808,602 | |||
Domestic deposits | 11,935,374 | 625,344 | 11,310,030 |
1. | Amounts do not include negotiable certificates of deposit and JOM accounts. |
44
Mitsubishi UFJ Financial Group, Inc.
14. Status of Deferred Tax Assets
(1) Tax Effects of the Items Comprising Net Deferred Tax Assets
(in billions of yen) | |||||||||
As of September 30, 2008 (A) | Increase (Decrease) (A) - (B) | As of March 31, 2008 (B) | |||||||
Deferred tax assets | 1,288.5 | (20.1 | ) | 1,308.7 | |||||
Net operating losses carried forwards | 587.0 | (85.0 | ) | 672.1 | |||||
Allowance for credit losses | 405.1 | 39.7 | 365.4 | ||||||
Write-down on investment securities | 180.1 | (53.6 | ) | 233.8 | |||||
Unrealized losses on other securities | 96.9 | 49.6 | 47.3 | ||||||
Reserve for retirement benefits | 75.3 | (2.2 | ) | 77.5 | |||||
Other | 461.7 | 5.6 | 456.1 | ||||||
Valuation allowance | (518.0 | ) | 25.7 | (543.7 | ) | ||||
Deferred tax liabilities | 294.8 | (320.2 | ) | 615.0 | |||||
Unrealized gains on other securities | 91.3 | (242.3 | ) | 333.6 | |||||
Revaluation gains on securities upon merger | 90.8 | (37.8 | ) | 128.7 | |||||
Gains on securities contributed to employee retirement benefits trust | 66.0 | (0.7 | ) | 66.7 | |||||
Other | 46.7 | (39.1 | ) | 85.8 | |||||
Net deferred tax assets | 993.6 | 300.0 | 693.6 |
(2) Net Business Profits before Credit Costs and Taxable Income
(in billions of yen) | ||||||||||||||||
FY2003 | FY2004 | FY2005 | FY2006 | FY2007 | Interim FY2008 | |||||||||||
Net business profits before credit costs | 1,170.2 | 1,201.4 | 1,087.7 | 899.7 | 828.2 | 359.5 | ||||||||||
Credit costs | 1,089.3 | 892.4 | (485.9 | ) | 38.7 | 107.2 | 238.6 | |||||||||
Income before income taxes | 262.5 | (47.3 | ) | 1,612.7 | 958.0 | 687.0 | 48.6 | |||||||||
Reconciliation to taxable income | 289.5 | (311.4 | ) | (1,403.1 | ) | (401.6 | ) | (123.1 | ) | 188.4 | ||||||
Taxable income | 552.0 | (358.8 | ) | 209.5 | 556.3 | 563.9 | 237.1 |
The amounts presented for FY 2005 include amounts of The Bank of Tokyo-Mitsubishi UFJ, Ltd. and former UFJ Bank Limited.
The amounts prior to FY 2005 include amounts of former The Bank of Tokyo-Mitsubishi, Ltd. and former UFJ Bank Limited.
45
Mitsubishi UFJ Financial Group, Inc.
(3) Classification Based on Prior Year Operating Results as Provided in the JICPA Audit Committee Report No.66
Although we recorded taxable income for the six months ended September 30, 2008, we are classified as “4” described above since we have material net operating losses carried forwards. However since we believe the net operating losses carried forwards are attributable to extraordinary factors such as changes in laws and regulations, we apply the exception to classification 4.
(Five years’ future taxable income is estimable.)
[Extraordinary Factors Such as Changes in Laws and Regulations]
Our net operating losses carried forwards were incurred due to, among other things, the followings : (i) we accelerated the final disposition of non performing loans in response to both the “Emergency Economic Package”, which provided guidance to major banks to remove claims to debtors classified as “likely to become bankrupt” or below from their balance sheets, and the “Program for Financial Revival”, which urged major banks to reduce the ratio of non performing loans to total claims by about half; and (ii) we reduced our holdings of strategic equity investments under the “Law Concerning Restriction, etc. of Banks’ Shareholdings etc”.
(4) Collectability of Deferred Tax Assets at September 30, 2008 (Assumptions)
(in billions of yen) | ||
Five years total (from 2nd half of FY2008 to 1st half of FY2013) | ||
Net business profits (*1) | 4,442.7 | |
Income before income taxes | 2,669.7 | |
Taxable income before adjustments (*2) | 3,515.8 | |
Temporary difference + net operating losses carried forwards (for which deferred tax assets shall be recognized) | 3,057.0 | |
Deferred tax assets as of September 30, 2008 | 1,288.5 |
(*1) | Before provision for general allowance for credit losses. Net business profits in this table was estimated by using more conservative assumptions than those used in our business plans. |
(*2) | Before reversals of existing deductible temporary differences and net operating loss carried forwards. |
46
Mitsubishi UFJ Financial Group, Inc.
(1) Tax Effects of the Items Comprising Net Deferred Tax Assets
(in billions of yen) | |||||||||
As of September 30, 2008 (A) | Increase (Decrease) (A) - (B) | As of March 31, 2008 (B) | |||||||
Deferred tax assets | 125.0 | (17.6 | ) | 142.6 | |||||
Write-down on investment securities | 83.6 | (0.8 | ) | 84.4 | |||||
Net operating losses carried forwards | 66.7 | (19.7 | ) | 86.5 | |||||
Allowance for credit losses | 27.3 | (1.9 | ) | 29.2 | |||||
Other | 63.1 | 5.9 | 57.1 | ||||||
Valuation allowance | (115.9 | ) | (1.1 | ) | (114.7 | ) | |||
Deferred tax liabilities | 55.5 | (72.6 | ) | 128.2 | |||||
Unrealized gains on other securities | 21.1 | (73.3 | ) | 94.4 | |||||
Other | 34.4 | 0.6 | 33.7 | ||||||
Net deferred tax assets | 69.4 | 54.9 | 14.4 |
(2) Net Business Profits before Credit Costs and Taxable Income
(in billions of yen) | |||||||||||||||||
FY2003 | FY2004 | FY2005 | FY2006 | FY2007 | Interim FY2008 | ||||||||||||
Net business profits before credit costs | 274.1 | 271.1 | 252.6 | 274.3 | 187.2 | 78.5 | |||||||||||
Credit related costs | 69.7 | 81.7 | (45.8 | ) | 1.7 | (21.0 | ) | 3.5 | |||||||||
Income before income taxes | 183.4 | 143.1 | 306.9 | 284.0 | 197.3 | 52.0 | |||||||||||
Reconciliation to taxable income | (199.1 | ) | 14.1 | (212.0 | ) | (142.9 | ) | (26.3 | ) | (4.3 | ) | ||||||
Taxable income | (15.6 | ) | 157.3 | 94.8 | 141.1 | 170.9 | 47.6 |
The amounts presented for FY 2005 include amounts of Mitsubishi UFJ Trust and Banking Corporation and former UFJ Trust Bank Limited.
The amounts prior to FY 2005 include amounts of former The Mitsubishi Trust and Banking Corporation and former UFJ Trust Bank Limited.
47
Mitsubishi UFJ Financial Group, Inc.
(3) Classification Based on Prior Year Operating Results as Provided in the JICPA Audit Committee Report No.66
Although we recorded taxable income for the six months ended September 30, 2008, we are classified as “4” described above since we have material net operating losses carried forwards. However since we believe the net operating losses carried forwards are attributable to extraordinary factors such as changes in laws and regulations, we apply the exception to classification 4.
(Five years’ future taxable income is estimable.)
[Extraordinary Factors Such as Changes in Laws and Regulations]
Our net operating losses carried forwards were incurred due to, among other things, the followings : (i) we accelerated the final disposition of non performing loans in response to both the “Emergency Economic Package”, which provided guidance to major banks to remove claims to debtors classified as “likely to become bankrupt” or below from their balance sheets, and the “Program for Financial Revival”, which urged major banks to reduce the ratio of non performing loans to total claims by about half; and (ii) we reduced our holdings of strategic equity investments under the “Law Concerning Restriction, etc. of Banks’ Shareholdings etc”.
(4) Collectability of Deferred Tax Assets at September 30, 2008 (Assumptions)
(in billions of yen) | ||
Five years total (from 2nd half of FY2008 to 1st half of FY2013) | ||
Net business profits (*1) | 687.7 | |
Income before income taxes | 530.2 | |
Taxable income before adjustments (*2) | 519.2 | |
Temporary difference + net operating losses carried forwards (for which deferred tax assets shall be recognized) | 252.1 | |
Deferred tax assets as of September 30, 2008 | 125.0 |
(*1) | Before provision for general allowance for credit losses. Net business profits in this table was estimated by using more conservative assumptions than those used in our business plans. |
(*2) | Before reversals of existing deductible temporary differences and net operating loss carried forwards. |
48
Mitsubishi UFJ Financial Group, Inc.
15. Earnings Forecasts for the Fiscal Year Ending March 31, 2009
(in billions of yen) | ||||||||
(Consolidated) | <Forecasts> For the fiscal year ending March 31, 2009 | For the six months ended September 30, 2008 | For the fiscal year ended March 31, 2008 | For the six months ended September 30, 2007 | ||||
Ordinary income | 5,900.0 | 2,925.1 | 6,393.9 | 3,250.2 | ||||
Ordinary profits | 600.0 | 188.1 | 1,029.0 | 497.5 | ||||
Net income | 220.0 | 92.0 | 636.6 | 256.7 | ||||
(Non-consolidated) | ||||||||
Operating income | 480.0 | 247.8 | 521.4 | 197.2 | ||||
Ordinary profits | 450.0 | 231.4 | 491.7 | 182.9 | ||||
Net income | 480.0 | 291.1 | 416.8 | 105.4 |
(in billions of yen) | ||||||||
(Consolidated) | <Forecasts> For the fiscal year ending March 31, 2009 | For the six months ended September 30, 2008 | For the fiscal year ended March 31, 2008 | For the six months ended September 30, 2007 | ||||
Ordinary profits | 475.0 | 135.1 | 794.4 | 325.6 | ||||
Net income | 330.0 | 175.1 | 591.4 | 164.1 | ||||
(Non-consolidated) | ||||||||
Net business profits * | 780.0 | 359.5 | 828.2 | 389.1 | ||||
Ordinary profits | 290.0 | 37.8 | 567.2 | 272.1 | ||||
Net income | 120.0 | 25.0 | 550.9 | 188.0 |
* | Before provision for general allowance for credit losses |
(in billions of yen) | ||||||||
(Consolidated) | <Forecasts> For the fiscal year ending March 31, 2009 | For the six months ended September 30, 2008 | For the fiscal year ended March 31, 2008 | For the six months ended September 30, 2007 | ||||
Ordinary profits | 110.0 | 54.9 | 183.6 | 101.9 | ||||
Net income | 55.0 | 30.7 | 118.0 | 62.8 | ||||
(Non-consolidated) | ||||||||
Net business profits * | 145.0 | 78.5 | 187.2 | 115.6 | ||||
Ordinary profits | 105.0 | 53.4 | 172.7 | 97.7 | ||||
Net income | 55.0 | 31.9 | 114.1 | 60.7 |
* | Before credit costs for trust accounts and provision for general allowance for credit losses |
49
Mitsubishi UFJ Financial Group, Inc.
1. Exposure to Securitized Products and Related Investments and GSE Related Investments
(1) Exposure to securitized products and related investments
Our exposure to securitized products and related investments as of September 30, 2008 is outlined below. (Figures are on a managerial basis and rounded off.)
[Balance, net unrealized gains (losses), realized losses]
• | The balance as of the end of September 2008 decreased to ¥3.12 trillion in total, a decrease of ¥201 billion compared with the balance as of the end of March 2008. This decrease was mainly due to sales and redemptions, and the balance denominated in local currencies decreased at the end of September 2008. |
• | Net unrealized losses were ¥501 billion, and the rate of decline in market value was 16.1%, an increase of 6.5% from the rate at the end of March 2008. |
• | The effect on the P/L for the six months ended September 30, 2008 was a loss of ¥41 billion, mainly due to losses on disposal of residential mortgage-backed securities (RMBS). (The realized losses for the fiscal year ended March 31, 2008 were ¥117 billion.) |
(¥bn) | |||||||||||||||||||||
Balance1 | Change from end of March | Net unrealized gains (losses) | Change from end of March | Net unrealized gains (losses) as a % of balance | Change from end of March | ||||||||||||||||
1 | RMBS | 520 | (93 | ) | (105 | ) | (39 | ) | (20.2 | )% | (9.4 | )% | |||||||||
2 | Sub-prime RMBS | 141 | (41 | ) | (38 | ) | 0 | (27.1 | )% | (6.4 | )% | ||||||||||
3 | CMBS | 35 | (8 | ) | (1 | ) | 0 | (2.5 | )% | (1.4 | )% | ||||||||||
4 | CLOs | 2,011 | (70 | ) | (339 | ) | (133 | ) | (16.9 | )% | (7.0 | )% | |||||||||
5 | Other securitized products (card, etc.) | 513 | (6 | ) | (49 | ) | (11 | ) | (9.6 | )% | (2.3 | )% | |||||||||
6 | CDOs | 37 | (22 | ) | (6 | ) | 1 | (17.4 | )% | (5.1 | )% | ||||||||||
7 | Sub-prime ABS CDOs | 0 | (3 | ) | 0 | 1 | 0.0 | % | 25.6 | % | |||||||||||
8 | SIV investments | 3 | (3 | ) | 0 | 0 | (11.4 | )% | (11.4 | )% | |||||||||||
9 | Total | 3,118 | (201 | ) | (501 | ) | (183 | ) | (16.1 | )% | (6.5 | )% |
1. | Balance is the amount after impairment and before deducting net unrealized losses. The above table does not include mortgage-backed securities arranged and guaranteed by U.S. government sponsored enterprises, etc., Japanese RMBS such as Japanese Housing Finance Agency securities, and products held by funds such as investment trusts. These are also applicable to the tables in this document. |
50
Mitsubishi UFJ Financial Group, Inc.
[Distribution by rating]
• | AAA-rated products account for 81% of our investments in securitized products, substantially unchanged from the end of March 2008. |
(¥bn) | |||||||||||||||||||||||
AAA | AA | A | BBB | BB or lower | Unrated | Total | |||||||||||||||||
10 | RMBS | 462 | 30 | 28 | 0 | 0 | 0 | 520 | |||||||||||||||
11 | Sub-prime RMBS | 122 | 18 | 0 | 0 | 0 | 0 | 141 | |||||||||||||||
12 | CMBS | 21 | 9 | 4 | 1 | 0 | 0 | 35 | |||||||||||||||
13 | CLOs | 1,734 | 102 | 144 | 26 | 4 | 2 | 2,011 | |||||||||||||||
14 | Other securitized products (card, etc.) | 279 | 38 | 46 | 143 | 3 | 3 | 513 | |||||||||||||||
15 | CDOs | 19 | 11 | 5 | 0 | 1 | 0 | 37 | |||||||||||||||
16 | Sub-prime ABS CDOs | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||
17 | SIV investments | 0 | 0 | 0 | 0 | 3 | 0 | 3 | |||||||||||||||
18 | Total | 2,516 | 189 | 227 | 170 | 11 | 5 | 3,118 | |||||||||||||||
19 | Percentage of total | 81 | % | 6 | % | 7 | % | 5 | % | 0 | % | 0 | % | 100 | % | ||||||||
20 | Percentage of total (End of March) | 80 | % | 6 | % | 8 | % | 6 | % | 0 | % | 0 | % | 100 | % |
[Distribution by RMBS vintage]
• | We hold RMBS with diverse vintages. |
(¥bn) | ||||||||||||
Vintage | Total | |||||||||||
2007 | 2006 | 2005 | 2004 or earlier | |||||||||
21 | RMBS | 74 | 289 | 138 | 18 | 520 | ||||||
22 | Sub-prime RMBS | 39 | 77 | 25 | 0 | 141 | ||||||
23 | Non sub-prime RMBS | 34 | 213 | 114 | 18 | 379 |
[Credit exposure related to leveraged loan]
• | We are not engaged in origination or distribution of securitized products of leveraged loans, and therefore, there is no balance of leveraged loans for securitization. |
• | The following table shows the balances of LBO loans as of the end of September 2008. |
(¥bn) | |||||||||||||||
Americas | Europe | Asia | Japan | Total | Change from end of March | ||||||||||
1 | LBO Loan2 (Balance on a commitment basis) | 76 | 179 | 50 | 286 | 590 | (41 | ) | |||||||
2 | Balance on a booking basis | 57 | 159 | 46 | 258 | 519 | (23 | ) |
2. | Includes balance after refinancing. (Figures are rounded off.) |
51
Mitsubishi UFJ Financial Group, Inc.
[Special Purpose Entities (SPEs)]
• | We are engaged in sponsoring ABCP issuance for securitizing our clients’ assets. |
• | The balance of assets purchased by ABCP conduits (special purpose companies for issuing ABCP) as of the end of September 2008 was ¥4.98 trillion (¥1.74 trillion overseas). |
• | The purchased assets are mainly receivables and they do not include residential mortgages. |
[Monoline insurer related]
• | There is no credit outstanding or credit derivative transactions with monoline insurers. |
(2) Exposure to GSE related investments
We hold mortgage-backed securities arranged and guaranteed by Federal National Mortgage Association (Fannie Mae), Federal Home Loan Mortgage Corporation (Freddie Mac) and Government National Mortgage Association (Ginnie Mae), mainly as part of our ALM operation relating to foreign currencies.
Our holding balance of these mortgage-backed securities as of the end of September 2008 was ¥2,838 billion in total, a decrease of ¥302 billion compared with the balance as of the end of June 2008. Net unrealized losses were ¥33 billion, a decrease of ¥18 billion from the losses as of the end of June 2008, and the rate of decline in market value was 1.1%, a decrease of 0.5% from the rate at the end of June 2008.
Our holding balance of debt securities issued by the above three institutions and Federal Home Loan Banks (Agency Securities) as of the end of September 2008 was ¥117 billion, a decrease of ¥70 billion compared with the balance as of the end of June 2008. Net unrealized gains were not significant.
<Terminology>
| ||
RMBS | : Asset-backed securities collateralized by residential mortgages | |
CMBS | : Asset-backed securities collateralized by commercial mortgages | |
CLOs | : Collateralized debt obligations backed by whole commercial loans, revolving credit facilities, or letters of credit | |
CDOs | : Structured credit securities backed by a pool of securities, loans, or credit default swaps | |
ABS CDOs | : Collateralized debt obligations backed by asset backed securities | |
SIVs | : Investment companies established mainly for gaining profit margin by raising funds through subordinated notes and short-term CPs, etc. and investing in relatively long-term securitized products and bonds, etc. | |
LBO Loans | : Loans collateralized by assets and/or future cash flows of an acquired company | |
ABCP | : Commercial papers issued by a Special Purpose Company (SPC) collateralized by assets | |
GSE | : U.S. government sponsored enterprises such as Federal National Mortgage Association (Fannie Mae) |
52
Mitsubishi UFJ Financial Group, Inc.
(Reference)
(1) Consolidated Balance Sheets
(in millions of yen) | ||||||
As of September 30, 2008 | As of March 31, 2008 | |||||
Assets: | ||||||
Cash and due from banks | 7,945,518 | 9,127,750 | ||||
Call loans and bills bought | 784,987 | 1,096,258 | ||||
Receivables under resale agreements | 120,503 | 397,907 | ||||
Receivables under securities borrowing transactions | 3,554,122 | 4,874,657 | ||||
Monetary claims bought | 4,173,449 | 4,529,809 | ||||
Trading assets | 8,521,460 | 4,795,728 | ||||
Money held in trust | 286,237 | 290,341 | ||||
Securities | 31,273,945 | 33,281,702 | ||||
Allowance for losses on securities | (35,716 | ) | (29,336 | ) | ||
Loans and bills discounted | 80,668,401 | 79,363,106 | ||||
Foreign exchanges | 1,657,603 | 1,243,500 | ||||
Other assets | 5,213,653 | 4,590,922 | ||||
Tangible fixed assets | 1,022,192 | 1,366,027 | ||||
Intangible fixed assets | 456,804 | 622,334 | ||||
Deferred tax assets | 1,002,539 | 747,152 | ||||
Customers’ liabilities for acceptances and guarantees | 9,353,985 | 10,483,692 | ||||
Allowance for credit losses | (879,237 | ) | (979,575 | ) | ||
Total assets | 155,120,452 | 155,801,981 | ||||
53
Mitsubishi UFJ Financial Group, Inc.
(in millions of yen) | ||||||
As of September 30, 2008 | As of March 31, 2008 | |||||
Liabilities: | ||||||
Deposits | 107,094,684 | 109,411,671 | ||||
Negotiable certificates of deposit | 5,572,916 | 5,323,841 | ||||
Call money and bills sold | 2,147,574 | 1,800,584 | ||||
Payables under repurchase agreements | 3,850,718 | 3,961,480 | ||||
Payables under securities lending transactions | 1,455,135 | 2,546,715 | ||||
Commercial papers | 173,685 | 357,362 | ||||
Trading liabilities | 4,250,007 | 1,220,211 | ||||
Borrowed money | 2,694,290 | 2,660,227 | ||||
Foreign exchanges | 979,813 | 974,790 | ||||
Short-term bonds payable | 36,165 | 44,200 | ||||
Bonds payable | 4,874,970 | 4,862,493 | ||||
Other liabilities | 5,031,727 | 3,667,563 | ||||
Reserve for bonuses | 23,409 | 25,601 | ||||
Reserve for bonuses to directors | 66 | 141 | ||||
Reserve for retirement benefits | 37,274 | 47,563 | ||||
Reserve for retirement benefits to directors | 677 | 1,035 | ||||
Reserve for loyalty award credits | 884 | 8,043 | ||||
Reserve for contingent losses | 50,866 | 126,649 | ||||
Reserve for losses relating to business restructuring | — | 22,865 | ||||
Reserves under special laws | 1,471 | 1,901 | ||||
Deferred tax liabilities | 33,130 | 76,331 | ||||
Deferred tax liabilities for land revaluation | 189,933 | 191,788 | ||||
Acceptances and guarantees | 9,353,985 | 10,483,692 | ||||
Total liabilities | 147,853,391 | 147,816,755 | ||||
Net assets: | ||||||
Capital stock | 996,973 | 996,973 | ||||
Capital surplus | 2,773,290 | 2,773,290 | ||||
Retained earnings | 2,026,410 | 2,032,903 | ||||
Total shareholders’ equity | 5,796,674 | 5,803,166 | ||||
Net unrealized gains (losses) on other securities | (236,869 | ) | 266,877 | |||
Net deferred gains (losses) on hedging instruments | 11,426 | 82,737 | ||||
Land revaluation excess | 228,616 | 231,333 | ||||
Foreign currency translation adjustments | (81,330 | ) | (48,871 | ) | ||
Pension liability adjustments of subsidiaries preparing financial statements under US GAAP | (12,392 | ) | — | |||
Total valuation and translation adjustments | (90,549 | ) | 532,077 | |||
Minority interests | 1,560,936 | 1,649,981 | ||||
Total net assets | 7,267,061 | 7,985,225 | ||||
Total liabilities and net assets | 155,120,452 | 155,801,981 | ||||
54
Mitsubishi UFJ Financial Group, Inc.
BTMU Consolidated
(2) Consolidated Statements of Income
(in millions of yen) | |||||
For the six months ended September 30, 2007 | For the six months ended September 30, 2008 | ||||
Ordinary income | 2,555,737 | 2,238,656 | |||
Interest income | 1,697,474 | 1,536,345 | |||
(Interest on loans and bills discounted) | 1,087,348 | 1,021,448 | |||
(Interest and dividends on securities) | 339,646 | 284,929 | |||
Trust fees | 12,893 | 9,964 | |||
Fees and commissions | 428,689 | 375,583 | |||
Trading income | 99,919 | 52,036 | |||
Other business income | 108,012 | 151,854 | |||
Other ordinary income | 208,749 | 112,871 | |||
Ordinary expenses | 2,230,118 | 2,103,523 | |||
Interest expenses | 831,041 | 650,106 | |||
(Interest on deposits) | 424,058 | 332,338 | |||
Fees and commissions | 56,085 | 56,701 | |||
Trading expenses | — | 1,288 | |||
Other business expenses | 75,400 | 122,216 | |||
General and administrative expenses | 827,783 | 774,581 | |||
Other ordinary expenses | 439,808 | 498,629 | |||
Ordinary profits | 325,618 | 135,132 | |||
Extraordinary gains | 32,546 | 193,831 | |||
Gains on disposition of fixed assets | 2,597 | 954 | |||
Gains on loans written-off | 16,898 | 12,185 | |||
Reversal of reserve for contingent liabilities from financial instruments transactions | — | 434 | |||
Gains on changes in subsidiaries’ equity | 13,050 | — | |||
Gains on sales of equity securities of MUFG | — | 172,096 | |||
Impact upon the adoption of the Accounting standard for lease transactions | — | 6,186 | |||
Gains on sales of equity securities of subsidiaries | — | 1,974 | |||
Extraordinary losses | 75,789 | 55,416 | |||
Losses on disposition of fixed assets | 6,066 | 6,634 | |||
Losses on impairment of fixed assets | 10,119 | 1,583 | |||
Provision for reserve for losses relating to business restructuring | 59,603 | — | |||
Expenses relating to systems integration | — | 47,198 | |||
Income before income taxes and others | 282,375 | 273,547 | |||
Income taxes—current | 41,997 | 37,166 | |||
Income taxes—deferred | 92,455 | 14,409 | |||
Total taxes | — | 51,575 | |||
Minority interests | (16,217 | ) | 46,829 | ||
Net income | 164,140 | 175,142 | |||
55
Mitsubishi UFJ Financial Group, Inc.
BTMU Consolidated
(3) Consolidated Statements of Changes in Net Assets
(in millions of yen) | ||||||
For the six months ended September 30, 2007 | For the six months ended September 30, 2008 | |||||
Shareholders’ equity | ||||||
Capital stock | ||||||
Balance at the beginning of the period | 996,973 | 996,973 | ||||
Balance at the end of the period | 996,973 | 996,973 | ||||
Capital surplus | ||||||
Balance at the beginning of the period | 2,767,590 | 2,773,290 | ||||
Balance at the end of the period | 2,767,590 | 2,773,290 | ||||
Retained earnings | ||||||
Balance at the beginning of the period | 1,914,973 | 2,032,903 | ||||
Changes during the period | ||||||
Dividends from retained earnings | (160,703 | ) | (183,966 | ) | ||
Net income | 164,140 | 175,142 | ||||
Reversal of land revaluation excess | 1,417 | 2,717 | ||||
Increase in companies accounted for under the equity method | — | 5,763 | ||||
Decrease in companies accounted for under the equity method | — | (16 | ) | |||
Changes in accounting standards in overseas consolidated subsidiaries | (9,116 | ) | — | |||
Increase due to unification of accounting policies applied to foreign subsidiaries | — | 537 | ||||
Decrease due to unification of accounting policies applied to foreign subsidiaries | — | (6,669 | ) | |||
Total changes during the period | (4,261 | ) | (6,492 | ) | ||
Balance at the end of the period | 1,910,712 | 2,026,410 | ||||
Total shareholders’ equity | ||||||
Balance at the beginning of the period | 5,679,537 | 5,803,166 | ||||
Changes during the period | ||||||
Dividends from retained earnings | (160,703 | ) | (183,966 | ) | ||
Net income | 164,140 | 175,142 | ||||
Reversal of land revaluation excess | 1,417 | 2,717 | ||||
Increase in companies accounted for under the equity method | — | 5,763 | ||||
Decrease in companies accounted for under the equity method | — | (16 | ) | |||
Changes in accounting standards in overseas consolidated subsidiaries | (9,116 | ) | — | |||
Increase due to unification of accounting policies applied to foreign subsidiaries | — | 537 | ||||
Decrease due to unification of accounting policies applied to foreign subsidiaries | — | (6,669 | ) | |||
Total changes during the period | (4,261 | ) | (6,492 | ) | ||
Balance at the end of the period | 5,675,275 | 5,796,674 | ||||
56
Mitsubishi UFJ Financial Group, Inc.
(in millions of yen) | ||||||
For the six months ended September 30, 2007 | For the six months ended September 30, 2008 | |||||
Valuation and translation adjustments | ||||||
Net unrealized gains (losses) on other securities | ||||||
Balance at the beginning of the period | 1,431,320 | 266,877 | ||||
Changes during the period | ||||||
Net changes in items other than shareholders’ equity | (175,419 | ) | (503,746 | ) | ||
Total changes during the period | (175,419 | ) | (503,746 | ) | ||
Balance at the end of the period | 1,255,900 | (236,869 | ) | |||
Net deferred gains (losses) on hedging instruments | ||||||
Balance at the beginning of the period | (52,655 | ) | 82,737 | |||
Changes during the period | ||||||
Net changes in items other than shareholders’ equity | (521 | ) | (71,311 | ) | ||
Total changes during the period | (521 | ) | (71,311 | ) | ||
Balance at the end of the period | (53,177 | ) | 11,426 | |||
Land revaluation excess | ||||||
Balance at the beginning of the period | 240,307 | 231,333 | ||||
Changes during the period | ||||||
Net changes in items other than shareholders’ equity | (1,417 | ) | (2,717 | ) | ||
Total changes during the period | (1,417 | ) | (2,717 | ) | ||
Balance at the end of the period | 238,889 | 228,616 | ||||
Foreign currency translation adjustments | ||||||
Balance at the beginning of the period | (30,676 | ) | (48,871 | ) | ||
Changes during the period | ||||||
Net changes in items other than shareholders’ equity | 31,767 | (32,458 | ) | |||
Total changes during the period | 31,767 | (32,458 | ) | |||
Balance at the end of the period | 1,091 | (81,330 | ) | |||
Pension liability adjustments of subsidiaries preparing financial statements under US GAAP | ||||||
Balance at the beginning of the period | — | — | ||||
Changes during the period | ||||||
Net changes in items other than shareholders’ equity | — | (12,392 | ) | |||
Total changes during the period | — | (12,392 | ) | |||
Balance at the end of the period | — | (12,392 | ) | |||
Total valuation and translation adjustments | ||||||
Balance at the beginning of the period | 1,588,295 | 532,077 | ||||
Changes during the period | ||||||
Net changes in items other than shareholders’ equity | (145,591 | ) | (622,627 | ) | ||
Total changes during the period | (145,591 | ) | (622,627 | ) | ||
Balance at the end of the period | 1,442,704 | (90,549 | ) | |||
57
Mitsubishi UFJ Financial Group, Inc.
(in millions of yen) | ||||||
For the six months ended September 30, 2007 | For the six months ended September 30, 2008 | |||||
Minority interests | ||||||
Balance at the beginning of the period | 1,622,722 | 1,649,981 | ||||
Changes during the period | ||||||
Net changes in items other than shareholders’ equity | (46,170 | ) | (89,044 | ) | ||
Total changes during the period | (46,170 | ) | (89,044 | ) | ||
Balance at the end of the period | 1,576,551 | 1,560,936 | ||||
Total net assets | ||||||
Balance at the beginning of the period | 8,890,555 | 7,985,225 | ||||
Changes during the period | ||||||
Dividends from retained earnings | (160,703 | ) | (183,966 | ) | ||
Net income | 164,140 | 175,142 | ||||
Reversal of land revaluation excess | 1,417 | 2,717 | ||||
Increase in companies accounted for under the equity method | — | 5,763 | ||||
Decrease in companies accounted for under the equity method | — | (16 | ) | |||
Changes in accounting standards in overseas consolidated subsidiaries | (9,116 | ) | — | |||
Increase due to unification of accounting policies applied to foreign subsidiaries | — | 537 | ||||
Decrease due to unification of accounting policies applied to foreign subsidiaries | — | (6,669 | ) | |||
Net changes in items other than shareholders’ equity | (191,761 | ) | (711,672 | ) | ||
Total changes during the period | (196,023 | ) | (718,164 | ) | ||
Balance at the end of the period | 8,694,532 | 7,267,061 | ||||
58
Mitsubishi UFJ Financial Group, Inc.
(4) Non-consolidated Balance Sheets
(in millions of yen) | ||||||
As of September 30, 2008 | As of March 31, 2008 | |||||
Assets: | ||||||
Cash and due from banks | 7,985,294 | 9,004,369 | ||||
Call loans | 554,331 | 656,874 | ||||
Receivables under resale agreements | 41,097 | 283,826 | ||||
Receivables under securities borrowing transactions | 3,544,509 | 4,874,657 | ||||
Bills bought | — | 226,200 | ||||
Monetary claims bought | 3,317,588 | 3,602,885 | ||||
Trading assets | 8,411,407 | 4,785,724 | ||||
Money held in trust | 70,275 | 77,137 | ||||
Securities | 31,106,307 | 33,191,095 | ||||
Allowance for losses on securities | (92,254 | ) | (85,776 | ) | ||
Loans and bills discounted | 72,228,207 | 70,397,804 | ||||
Foreign exchanges | 1,641,257 | 1,224,907 | ||||
Other assets | 4,280,265 | 3,184,526 | ||||
Tangible fixed assets | 936,956 | 959,984 | ||||
Intangible fixed assets | 330,689 | 356,365 | ||||
Deferred tax assets | 993,654 | 693,629 | ||||
Customers’ liabilities for acceptances and guarantees | 7,431,818 | 6,867,725 | ||||
Allowance for credit losses | (674,415 | ) | (640,596 | ) | ||
Total assets | 142,106,991 | 139,661,343 | ||||
59
Mitsubishi UFJ Financial Group, Inc.
(in millions of yen) | |||||
As of September 30, 2008 | As of March 31, 2008 | ||||
Liabilities: | |||||
Deposits | 99,767,246 | 101,861,554 | |||
Negotiable certificates of deposit | 5,561,932 | 5,420,058 | |||
Call money | 1,808,065 | 1,528,706 | |||
Payables under repurchase agreements | 3,726,524 | 3,832,129 | |||
Payables under securities lending transactions | 1,382,950 | 2,487,240 | |||
Trading liabilities | 4,149,558 | 1,171,412 | |||
Borrowed money | 4,646,501 | 4,115,106 | |||
Foreign exchanges | 995,640 | 991,260 | |||
Short-term bonds payable | — | 42,200 | |||
Bonds payable | 3,180,478 | 3,066,197 | |||
Other liabilities | 3,799,340 | 1,882,799 | |||
Income taxes payable | 11,301 | 10,568 | |||
Lease liabilities | 512 | — | |||
Other liabilities | 3,787,527 | — | |||
Reserve for bonuses | 16,669 | 16,969 | |||
Reserve for bonuses to directors | 43 | 140 | |||
Reserve for retirement benefits | 10,343 | 10,232 | |||
Reserve for loyalty award credits | 703 | 403 | |||
Reserve for contingent losses | 39,252 | 75,514 | |||
Reserves under special laws | 31 | 31 | |||
Deferred tax liabilities for land revaluation | 189,933 | 191,788 | |||
Acceptances and guarantees | 7,431,818 | 6,867,725 | |||
Total liabilities | 136,707,035 | 133,561,471 | |||
Net assets: | |||||
Capital stock | 996,973 | 996,973 | |||
Capital surplus | 2,773,290 | 2,773,290 | |||
Capital reserve | 2,773,290 | 2,773,290 | |||
Retained earnings | 1,571,848 | 1,728,082 | |||
Revenue reserve | 190,044 | 190,044 | |||
Other retained earnings | 1,381,804 | 1,538,037 | |||
Funds for retirement benefits | 2,432 | 2,432 | |||
Other reserve | 718,196 | 718,196 | |||
Earned surplus brought forward | 661,175 | 817,408 | |||
Total shareholders’ equity | 5,342,112 | 5,498,345 | |||
Net unrealized gains (losses) on other securities | (193,236 | ) | 289,078 | ||
Net deferred gains (losses) on hedging instruments | 22,464 | 81,114 | |||
Land revaluation excess | 228,616 | 231,333 | |||
Total valuation and translation adjustments | 57,843 | 601,526 | |||
Total net assets | 5,399,955 | 6,099,871 | |||
Total liabilities and net assets | 142,106,991 | 139,661,343 | |||
60
Mitsubishi UFJ Financial Group, Inc.
BTMU Non-consolidated
(5) Non-consolidated Statements of Income
(in millions of yen) | ||||
For the six months ended September 30, 2007 | For the six months ended September 30, 2008 | |||
Ordinary income | 1,941,878 | 1,769,495 | ||
Interest income | 1,379,950 | 1,261,737 | ||
(Interest on loans and bills discounted) | 794,108 | 782,614 | ||
(Interest and dividends on securities) | 330,818 | 270,081 | ||
Fees and commissions | 260,936 | 258,714 | ||
Trading income | 99,129 | 49,428 | ||
Other business income | 101,658 | 123,099 | ||
Other ordinary income | 100,203 | 76,515 | ||
Ordinary expenses | 1,669,695 | 1,731,602 | ||
Interest expenses | 764,806 | 597,464 | ||
(Interest on deposits) | 370,097 | 287,204 | ||
Fees and commissions | 64,049 | 65,992 | ||
Trading expenses | 832 | 1,281 | ||
Other business expenses | 72,878 | 105,569 | ||
General and administrative expenses | 564,774 | 565,768 | ||
Other ordinary expenses | 202,353 | 395,526 | ||
Ordinary profits | 272,183 | 37,892 | ||
Extraordinary gains | 32,712 | 65,387 | ||
Extraordinary losses | 10,594 | 54,580 | ||
Income before income taxes | 294,301 | 48,699 | ||
Income taxes—current | 18,035 | 8,213 | ||
Income taxes—deferred | 88,196 | 15,470 | ||
Total taxes | — | 23,683 | ||
Net income | 188,069 | 25,016 | ||
61
Mitsubishi UFJ Financial Group, Inc.
(1) Consolidated Balance Sheets
(in millions of yen) | ||||||
As of September 30, 2008 | As of March 31, 2008 | |||||
Assets: | ||||||
Cash and due from banks | 2,398,412 | 1,537,096 | ||||
Call loans and bills bought | 273,115 | 196,309 | ||||
Receivables under resale agreements | 8,868 | — | ||||
Receivables under securities borrowing transactions | 205,525 | 300,803 | ||||
Monetary claims bought | 53,293 | 63,388 | ||||
Trading assets | 280,470 | 275,131 | ||||
Money held in trust | 3,007 | 3 | ||||
Securities | 7,121,591 | 7,251,895 | ||||
Allowance for losses on securities | (985 | ) | (829 | ) | ||
Loans and bills discounted | 9,592,156 | 9,769,422 | ||||
Foreign exchanges | 16,190 | 11,454 | ||||
Other assets | 785,491 | 866,891 | ||||
Tangible fixed assets | 179,837 | 182,624 | ||||
Intangible fixed assets | 81,766 | 78,936 | ||||
Deferred tax assets | 71,700 | 17,484 | ||||
Customers’ liabilities for acceptances and guarantees | 655,084 | 252,494 | ||||
Allowance for credit losses | (89,968 | ) | (101,640 | ) | ||
Total assets | 21,635,558 | 20,701,464 | ||||
62
Mitsubishi UFJ Financial Group, Inc.
(in millions of yen) | ||||||
As of September 30, 2008 | As of March 31, 2008 | |||||
Liabilities: | ||||||
Deposits | 13,148,316 | 12,415,021 | ||||
Negotiable certificates of deposit | 2,334,061 | 2,015,367 | ||||
Call money and bills sold | 80,000 | 70,629 | ||||
Payables under repurchase agreements | 909,516 | 406,270 | ||||
Payables under securities lending transactions | 66,999 | 475,367 | ||||
Trading liabilities | 42,965 | 52,660 | ||||
Borrowed money | 511,354 | 1,244,563 | ||||
Foreign exchanges | 21 | 108 | ||||
Short-term bonds payable | 210,700 | 231,700 | ||||
Bonds payable | 213,400 | 267,000 | ||||
Due to trust accounts | 1,338,192 | 1,462,822 | ||||
Other liabilities | 742,016 | 388,429 | ||||
Reserve for bonuses | 5,779 | 6,236 | ||||
Reserve for bonuses to directors | 29 | 86 | ||||
Reserve for retirement benefits | 2,700 | 2,607 | ||||
Reserve for retirement benefits to directors | 205 | 216 | ||||
Reserve for contingent losses | 6,998 | 6,532 | ||||
Deferred tax liabilities | 518 | 1,411 | ||||
Deferred tax liabilities for land revaluation | 7,319 | 7,614 | ||||
Acceptances and guarantees | 655,084 | 252,494 | ||||
Total liabilities | 20,276,180 | 19,307,140 | ||||
Net assets: | ||||||
Capital stock | 324,279 | 324,279 | ||||
Capital surplus | 412,315 | 412,315 | ||||
Retained earnings | 528,533 | 546,596 | ||||
Total shareholders’ equity | 1,265,128 | 1,283,191 | ||||
Net unrealized gains (losses) on other securities | 983 | 112,561 | ||||
Net deferred gains (losses) on hedging instruments | (9,023 | ) | (6,095 | ) | ||
Land revaluation excess | (9,380 | ) | (10,170 | ) | ||
Foreign currency translation adjustments | (4,157 | ) | (848 | ) | ||
Total valuation and translation adjustments | (21,577 | ) | 95,447 | |||
Minority interests | 115,826 | 15,686 | ||||
Total net assets | 1,359,377 | 1,394,324 | ||||
Total liabilities and net assets | 21,635,558 | 20,701,464 | ||||
63
Mitsubishi UFJ Financial Group, Inc.
MUTB Consolidated
(2) Consolidated Statements of Income
(in millions of yen) | ||||
For the six months ended September 30, 2007 | For the six months ended September 30, 2008 | |||
Ordinary income | 372,802 | 336,403 | ||
Trust fees | 66,102 | 57,132 | ||
Interest income | 192,078 | 167,639 | ||
(Interest on loans and bills discounted) | 79,897 | 76,762 | ||
(Interest and dividends on securities) | 90,669 | 72,199 | ||
Fees and commissions | 89,106 | 73,809 | ||
Trading income | 3,292 | 4,168 | ||
Other business income | 7,582 | 27,279 | ||
Other ordinary income | 14,640 | 6,373 | ||
Ordinary expenses | 270,891 | 281,410 | ||
Interest expenses | 84,906 | 87,706 | ||
(Interest on deposits) | 43,563 | 45,934 | ||
Fees and commissions | 6,678 | 7,706 | ||
Trading expenses | 50 | 3,419 | ||
Other business expenses | 23,410 | 25,986 | ||
General and administrative expenses | 125,072 | 129,574 | ||
Other ordinary expenses | 30,773 | 27,016 | ||
Ordinary profits | 101,911 | 54,992 | ||
Extraordinary gains | 5,378 | 1,895 | ||
Gains on disposition of fixed assets | 1,113 | 738 | ||
Gains on loans written-off | 3,401 | 1,157 | ||
Reversal of reserve for contingent losses | 863 | — | ||
Extraordinary losses | 1,661 | 3,375 | ||
Losses on disposition of fixed assets | 1,245 | 1,609 | ||
Losses on impairment of fixed assets | 416 | 1,765 | ||
Income before income taxes and others | 105,627 | 53,513 | ||
Income taxes—current | 1,774 | 1,669 | ||
Income taxes—deferred | 40,155 | 20,251 | ||
Total taxes | — | 21,920 | ||
Minority interests | 896 | 856 | ||
Net income | 62,800 | 30,736 | ||
64
Mitsubishi UFJ Financial Group, Inc.
MUTB Consolidated
(3) Consolidated Statements of Changes in Net Assets
(in millions of yen) | ||||||
For the six months ended September 30, 2007 | For the six months ended September 30, 2008 | |||||
Shareholders’ equity | ||||||
Capital stock | ||||||
Balance at the beginning of the period | 324,279 | 324,279 | ||||
Balance at the end of the period | 324,279 | 324,279 | ||||
Capital surplus | ||||||
Balance at the beginning of the period | 530,334 | 412,315 | ||||
Changes during the period | ||||||
Dividends | (118,018 | ) | — | |||
Total changes during the period | (118,018 | ) | — | |||
Balance at the end of the period | 412,315 | 412,315 | ||||
Retained earnings | ||||||
Balance at the beginning of the period | 471,989 | 546,596 | ||||
Changes during the period | ||||||
Dividends | (25,822 | ) | (48,010 | ) | ||
Net income | 62,800 | 30,736 | ||||
Reversal of land revaluation excess | (14 | ) | (788 | ) | ||
Total changes during the period | 36,963 | (18,062 | ) | |||
Balance at the end of the period | 508,952 | 528,533 | ||||
Total shareholders’ equity | ||||||
Balance at the beginning of the period | 1,326,602 | 1,283,191 | ||||
Changes during the period | ||||||
Dividends | (143,841 | ) | (48,010 | ) | ||
Net income | 62,800 | 30,736 | ||||
Reversal of land revaluation excess | (14 | ) | (788 | ) | ||
Total changes during the period | (81,055 | ) | (18,062 | ) | ||
Balance at the end of the period | 1,245,547 | 1,265,128 | ||||
65
Mitsubishi UFJ Financial Group, Inc.
(in millions of yen) | ||||||
For the six months ended September 30, 2007 | For the six months ended September 30, 2008 | |||||
Valuation and translation adjustments | ||||||
Net unrealized gains (losses) on other securities | ||||||
Balance at the beginning of the period | 417,489 | 112,561 | ||||
Changes during the period | ||||||
Net changes in items other than shareholders’ equity | (74,416 | ) | (111,578 | ) | ||
Total changes during the period | (74,416 | ) | (111,578 | ) | ||
Balance at the end of the period | 343,072 | 983 | ||||
Net deferred gains (losses) on hedging instruments | ||||||
Balance at the beginning of the period | (6,859 | ) | (6,095 | ) | ||
Changes during the period | ||||||
Net changes in items other than shareholders’ equity | (3,029 | ) | (2,927 | ) | ||
Total changes during the period | (3,029 | ) | (2,927 | ) | ||
Balance at the end of the period | (9,888 | ) | (9,023 | ) | ||
Land revaluation excess | ||||||
Balance at the beginning of the period | (10,329 | ) | (10,170 | ) | ||
Changes during the period | ||||||
Net changes in items other than shareholders’ equity | 69 | 790 | ||||
Total changes during the period | 69 | 790 | ||||
Balance at the end of the period | (10,260 | ) | (9,380 | ) | ||
Foreign currency translation adjustments | ||||||
Balance at the beginning of the period | 749 | (848 | ) | |||
Changes during the period | ||||||
Net changes in items other than shareholders’ equity | 2,024 | (3,308 | ) | |||
Total changes during the period | 2,024 | (3,308 | ) | |||
Balance at the end of the period | 2,773 | (4,157 | ) | |||
Total valuation and translation adjustments | ||||||
Balance at the beginning of the period | 401,049 | 95,447 | ||||
Changes during the period | ||||||
Net changes in items other than shareholders’ equity | (75,352 | ) | (117,024 | ) | ||
Total changes during the period | (75,352 | ) | (117,024 | ) | ||
Balance at the end of the period | 325,697 | (21,577 | ) | |||
Minority interests | ||||||
Balance at the beginning of the period | 10,777 | 15,686 | ||||
Changes during the period | ||||||
Net changes in items other than shareholders’ equity | 3,956 | 100,140 | ||||
Total changes during the period | 3,956 | 100,140 | ||||
Balance at the end of the period | 14,733 | 115,826 | ||||
Total net assets | ||||||
Balance at the beginning of the period | 1,738,429 | 1,394,324 | ||||
Changes during the period | ||||||
Dividends | (143,841 | ) | (48,010 | ) | ||
Net income | 62,800 | 30,736 | ||||
Reversal of land revaluation excess | (14 | ) | (788 | ) | ||
Net changes in items other than shareholders’ equity | (71,395 | ) | (16,884 | ) | ||
Total changes during the period | (152,451 | ) | (34,946 | ) | ||
Balance at the end of the period | 1,585,978 | 1,359,377 | ||||
66
Mitsubishi UFJ Financial Group, Inc.
(4) Non-consolidated Balance Sheets
(in millions of yen) | ||||||
As of September 30, 2008 | As of March 31, 2008 | |||||
Assets: | ||||||
Cash and due from banks | 2,148,221 | 1,238,010 | ||||
Call loans | 243,115 | 192,409 | ||||
Receivables under securities borrowing transactions | 185,162 | 301,357 | ||||
Monetary claims bought | 53,073 | 62,605 | ||||
Trading assets | 280,372 | 274,754 | ||||
Money held in trust | 3,004 | — | ||||
Securities | 6,966,126 | 7,071,844 | ||||
Allowance for losses on securities | (985 | ) | (829 | ) | ||
Loans and bills discounted | 9,600,573 | 9,778,877 | ||||
Foreign exchanges | 16,190 | 11,454 | ||||
Other assets | 778,039 | 869,637 | ||||
Tangible fixed assets | 176,946 | 179,703 | ||||
Intangible fixed assets | 63,975 | 61,961 | ||||
Deferred tax assets | 69,443 | 14,453 | ||||
Customers’ liabilities for acceptances and guarantees | 241,380 | 179,701 | ||||
Allowance for credit losses | (89,290 | ) | (100,756 | ) | ||
Total assets | 20,735,350 | 20,135,186 | ||||
67
Mitsubishi UFJ Financial Group, Inc.
(in millions of yen) | ||||||
As of September 30, 2008 | As of March 31, 2008 | |||||
Liabilities: | ||||||
Deposits | 12,993,042 | 12,219,516 | ||||
Negotiable certificates of deposit | 2,334,061 | 2,015,437 | ||||
Call money | 80,000 | 70,629 | ||||
Payables under repurchase agreements | 900,702 | 651,176 | ||||
Payables under securities lending transactions | 66,999 | 319,347 | ||||
Trading liabilities | 42,965 | 52,660 | ||||
Borrowed money | 618,217 | 1,246,844 | ||||
Foreign exchanges | 42 | 121 | ||||
Short-term bonds payable | 210,700 | 231,700 | ||||
Bonds payable | 210,000 | 263,600 | ||||
Due to trust accounts | 1,085,924 | 1,156,318 | ||||
Other liabilities | 726,103 | 372,498 | ||||
Income taxes payable | 1,148 | 1,293 | ||||
Lease liabilities | 17 | — | ||||
Other liabilities | 724,937 | — | ||||
Reserve for bonuses | 4,331 | 4,400 | ||||
Reserve for bonuses to directors | 29 | 86 | ||||
Reserve for contingent losses | 6,995 | 6,516 | ||||
Deferred tax liabilities for land revaluation | 7,319 | 7,614 | ||||
Acceptances and guarantees | 241,380 | 179,701 | ||||
Total liabilities | 19,528,815 | 18,798,169 | ||||
Net assets: | ||||||
Capital stock | 324,279 | 324,279 | ||||
Capital surplus | 412,315 | 412,315 | ||||
Capital reserve | 250,619 | 250,619 | ||||
Other capital surplus | 161,695 | 161,695 | ||||
Retained earnings | 488,295 | 505,149 | ||||
Revenue reserve | 73,714 | 73,714 | ||||
Other retained earnings | 414,581 | 431,435 | ||||
Funds for retirement benefits | 710 | 710 | ||||
Other reserve | 138,495 | 138,495 | ||||
Earned surplus brought forward | 275,376 | 292,230 | ||||
Total shareholders’ equity | 1,224,890 | 1,241,744 | ||||
Net unrealized gains (losses) on other securities | (105 | ) | 111,342 | |||
Net deferred gains (losses) on hedging instruments | (8,868 | ) | (5,899 | ) | ||
Land revaluation excess | (9,380 | ) | (10,170 | ) | ||
Total valuation and translation adjustments | (18,354 | ) | 95,272 | |||
Total net assets | 1,206,535 | 1,337,016 | ||||
Total liabilities and net assets | 20,735,350 | 20,135,186 | ||||
68
Mitsubishi UFJ Financial Group, Inc.
MUTB Non-consolidated
(5) Non-consolidated Statements of Income
(in millions of yen) | ||||||
For the six months ended September 30, 2007 | For the six months ended September 30, 2008 | |||||
Ordinary income | 344,267 | 310,468 | ||||
Trust fees | 59,651 | 51,281 | ||||
Interest income | 186,746 | 165,498 | ||||
(Interest on loans and bills discounted) | 79,968 | 76,822 | ||||
(Interest and dividends on securities) | 90,937 | 74,703 | ||||
Fees and commissions | 75,325 | 59,255 | ||||
Trading income | 2,150 | 908 | ||||
Other business income | 7,628 | 27,260 | ||||
Other ordinary income | 12,765 | 6,262 | ||||
Ordinary expenses | 246,495 | 256,969 | ||||
Interest expenses | 80,610 | 84,849 | ||||
(Interest on deposits) | 42,014 | 44,328 | ||||
Fees and commissions | 11,957 | 11,557 | ||||
Trading expenses | 63 | 3,419 | ||||
Other business expenses | 23,410 | 25,986 | ||||
General and administrative expenses | 100,614 | 104,287 | ||||
Other ordinary expenses | 29,839 | 26,868 | ||||
Ordinary profits | 97,772 | 53,499 | ||||
Extraordinary gains | 9,847 | 1,841 | ||||
Extraordinary losses | 7,381 | 3,321 | ||||
Income before income taxes | 100,237 | 52,019 | ||||
Income taxes—current | (231 | ) | (297 | ) | ||
Income taxes—deferred | 39,752 | 20,371 | ||||
Total taxes | — | 20,074 | ||||
Net income | 60,715 | 31,944 | ||||
69
Mitsubishi UFJ Financial Group, Inc.
MUTB Non-consolidated
(6) Statements of Trust Assets and Liabilities
Including trust assets under service-shared co-trusteeship
(in millions of yen) | ||||
As of September 30, 2008 | As of March 31, 2008 | |||
Assets: | ||||
Loans and bills discounted | 231,155 | 258,808 | ||
Securities | 49,023,519 | 56,653,850 | ||
Beneficiary rights to the trust | 30,620,893 | 29,364,988 | ||
Securities held in custody accounts | 1,273,899 | 1,447,409 | ||
Monetary claims | 11,713,560 | 12,088,390 | ||
Tangible fixed assets | 9,228,810 | 9,006,213 | ||
Intangible fixed assets | 137,386 | 135,336 | ||
Other claims | 1,924,816 | 2,526,318 | ||
Call loans | 1,212,197 | 1,562,454 | ||
Due from banking account | 1,337,339 | 1,462,686 | ||
Cash and due from banks | 2,466,547 | 2,470,131 | ||
Total assets | 109,170,126 | 116,976,588 | ||
Liabilities: | ||||
Money trusts | 18,790,414 | 27,359,053 | ||
Pension trusts | 13,066,117 | 13,188,924 | ||
Property formation benefit trusts | 11,990 | 12,672 | ||
Loan trusts | 171,211 | 233,164 | ||
Investment trusts | 28,643,813 | 27,242,745 | ||
Money entrusted other than money trusts | 2,692,565 | 2,782,420 | ||
Securities trusts | 1,501,055 | 1,812,150 | ||
Monetary claim trusts | 12,287,101 | 12,611,728 | ||
Equipment trusts | 38,587 | 39,597 | ||
Land and fixtures trusts | 96,539 | 105,398 | ||
Composite trusts | 31,870,730 | 31,588,732 | ||
Total liabilities | 109,170,126 | 116,976,588 | ||
Note: | The table shown above includes master trust assets under the service-shared co-trusteeship between MUTB and The Master Trust Bank of Japan, Ltd. |
70
Mitsubishi UFJ Financial Group, Inc.
Detailed information for trust accounts with contracts indemnifying the principal amounts as of September 30, 2008 (including trusts for which beneficiary interests are re-entrusted)
(in millions of yen) | ||||
Money trusts | Loan trusts | |||
Assets: | ||||
Loans and bills discounted | 145,226 | — | ||
Securities | 58,064 | — | ||
Other | 982,513 | 172,155 | ||
Total | 1,185,803 | 172,155 | ||
Liabilities: | ||||
Principal | 1,154,687 | 169,572 | ||
Allowance for bad debts | 435 | — | ||
Special internal reserves | — | 1,079 | ||
Other | 30,680 | 1,504 | ||
Total | 1,185,803 | 172,155 | ||
71
Mitsubishi UFJ Financial Group, Inc.
MUTB Non-consolidated
(7) Major Items
(in millions of yen) | ||||
As of September 30, 2008 | As of March 31, 2008 | |||
Total funds | 47,366,837 | 55,028,768 | ||
Deposits | 12,993,042 | 12,219,516 | ||
Negotiable certificates of deposit | 2,334,061 | 2,015,437 | ||
Money trusts | 18,790,414 | 27,359,053 | ||
Pension trusts | 13,066,117 | 13,188,924 | ||
Property formation benefit trusts | 11,990 | 12,672 | ||
Loan trusts | 171,211 | 233,164 | ||
Loans and bills discounted | 9,831,729 | 10,037,685 | ||
Banking account | 9,600,573 | 9,778,877 | ||
Trust account | 231,155 | 258,808 | ||
Investment securities | 55,989,646 | 63,725,695 | ||
Note: | The table shown above includes master trust assets under the service-shared co-trusteeship between MUTB and The Master Trust Bank of Japan, Ltd. |
72