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, 2009
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, 2009 | By | /s/ Fumikazu Tatsumi | ||
Fumikazu Tatsumi | ||||
Chief Manager | ||||
Corporate Administration Division |
November 18, 2009 | ||
Consolidated Summary Report<under Japanese GAAP> for the six months ended September 30, 2009 |
Company name: | Mitsubishi UFJ Financial Group, Inc. | Stock exchange listings: Tokyo, Osaka, Nagoya, New York | ||||
Code number: | 8306 | URL http://www.mufg.jp/ | ||||
Representative: | Nobuo Kuroyanagi, President & CEO | |||||
For inquiry: | Muneaki Tokunari, Executive Officer, General Manager—Financial Planning Division | |||||
TEL (03) 3240-7200 | ||||||
Quarterly securities report issuing date: | November 30, 2009 | Trading accounts: | Established | |||
Dividend payment date: | December 9, 2009 |
(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Data for the Six Months ended September 30, 2009
(1) Results of Operations |
(% represents the change from the same period in the previous fiscal year) | |||||||||||||||
Ordinary Income | Ordinary Profits | Net Income | |||||||||||||
million yen | % | million yen | % | million yen | % | ||||||||||
Six months ended | |||||||||||||||
September 30, 2009 | 2,618,434 | (10.5 | ) | 233,047 | 23.9 | 140,948 | 53.2 | ||||||||
September 30, 2008 | 2,925,113 | (10.0 | ) | 188,117 | (62.2 | ) | 92,023 | (64.2 | ) |
Net Income per Common Stock | Diluted Net Income per Common Stock | |||
yen | yen | |||
Six months ended | ||||
September 30, 2009 | 11.08 | 11.08 | ||
September 30, 2008 | 8.46 | 8.42 |
(2) Financial Conditions
Total Assets | Total Net Assets | Net Assets Attributable to MUFG Shareholders to Total Assets(*1) | Total Net Assets per Common Stock | Risk-adjusted Capital Ratio(*2) | ||||||
million yen | million yen | % | yen | % | ||||||
As of | ||||||||||
September 30, 2009 | 202,802,103 | 9,945,632 | 3.9 | 621.44 | 13.29 | |||||
March 31, 2009 | 198,733,906 | 8,570,641 | 3.4 | 528.67 | 11.77 |
(Reference) Shareholders’ equity as of September 30, 2009: 7,885,626 million yen; March 31, 2009: 6,803,617 million yen
(*1) | “Net assets attributable to MUFG shareholders to total assets” is computed under the formula shown below |
(Total net assets – Subscription rights to shares – Minority interests) / Total assets |
(*2) | “Risk-adjusted Capital Ratio” is computed in accordance with the “Standards for Consolidated Capital Adequacy Ratio of Bank Holding Company under Article 52-25 of the Banking Law” (the Notification of the Financial Services Agency No. 20, 2006). |
Risk-adjusted capital ratio as of September 30, 2009 shown above is a preliminary figure. |
2. Dividends on Common Stock
Dividends per Share | ||||||||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | Total | ||||||
yen | yen | yen | yen | yen | ||||||
Fiscal year | ||||||||||
ended March 31, 2009 | — | 7.00 | — | 5.00 | 12.00 | |||||
ending March 31, 2010 | — | 6.00 | ||||||||
ending March 31, 2010 (Forecast) | — | 6.00 | 12.00 |
(*1) | Revision of forecasts for dividends on the presentation date of this Consolidated Summary Report: None |
(*2) | Please refer to “Dividends on Preferred Stocks” on page 3 for information with regard to the dividends on stocks other than common stock. |
3. Earnings Forecasts for the Fiscal Year ending March 31, 2010 (Consolidated)
(*) | Revision of earnings forecasts on the presentation date of this Consolidated Summary Report: None |
MUFG has the target of 300.0 billion yen of consolidated net income for the fiscal year ending March 31, 2010. |
(There are no changes to our earnings targets released on May 19, 2009.) |
MUFG is engaged in financial service businesses such as banking business, trust banking business, securities business and credit card/loan businesses. Because there are various uncertainties caused by economic situation, market environments and other factors in these businesses, MUFG discloses a target of its consolidated net income instead of a forecast of its performance.
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Mitsubishi UFJ Financial Group, Inc.
4. Other
(1) | Changes in scope of consolidation involving “Specified Subsidiaries” (Tokutei Kogaisha) during the period |
Newly consolidated: 2 Companies (MUFG Capital Finance 9 Limited, BTMU Preferred Capital 9 Limited)
(*) | Please refer to 4. Other of “Qualitative Information and Financial Statements” on page 6. |
(2) | Changes in accounting policies, procedures and presentation rules applied in the preparation of the interim consolidated financial statements |
(A) | Changes due to revision of accounting standards: None |
(B) | Changes due to other reasons: None |
(3) | Number of common stocks outstanding at the end of the period |
(A) Total stocks outstanding including treasury stocks: | ||||||||||||
Sep. 30, 2009 | 11,648,360,720 | shares | Mar. 31, 2009 | 11,648,360,720 | shares | |||||||
(B) Treasury stocks: | ||||||||||||
Sep. 30, 2009 | 8,251,395 | shares | Mar. 31, 2009 | 9,161,592 | shares | |||||||
(C) Average outstanding stocks: | ||||||||||||
Six months ended Sep. 30, 2009 | 11,639,665,653 | shares | ||||||||||
Six months ended Sep. 30, 2008 | 10,437,400,501 | shares |
(Reference) Non-consolidated financial data
1. | Non-consolidated Financial Data for the Six Months ended September 30, 2009 |
(1) | Results of Operations |
(% represents the change from the same period in the previous fiscal year) | ||||||||||||||||||||
Operating Income | Operating Profits | Ordinary Profits | Net Income | |||||||||||||||||
million yen | % | million yen | % | million yen | % | million yen | % | |||||||||||||
Six months ended | ||||||||||||||||||||
September 30, 2009 | 143,203 | (42.2 | ) | 134,571 | (43.9 | ) | 116,839 | (49.5 | ) | (14,207 | ) | — | ||||||||
September 30, 2008 | 247,861 | 25.7 | 239,882 | 25.7 | 231,407 | 26.5 | 291,103 | 176.1 |
Net Income per Common Stock | |||
yen | |||
Six months ended | |||
September 30, 2009 | (2.25 | ) | |
September 30, 2008 | 27.39 |
(2) | Financial Conditions |
Total Assets | Total Net Assets | Net Assets Ratio | Total Net Assets per Common Stock | |||||
million yen | million yen | % | yen | |||||
As of | ||||||||
September 30, 2009 | 10,107,154 | 7,650,642 | 75.6 | 600.36 | ||||
March 31, 2009 | 9,829,278 | 7,717,307 | 78.5 | 606.40 |
(Reference) Shareholders’ equity as of September 30, 2009: 7,645,213 million yen; March 31, 2009: 7,712,656 million yen
*Notes for using forecasted information etc.
1. | MUFG falls under the category of “Specified Business Corporation” (Tokutei Jigyo Gaisha) under Article 17-15-2 of the Cabinet Office Ordinance Concerning Disclosure of Public Companies and accordingly, prepares its interim consolidated financial statements and interim non-consolidated financial statements for the six months ended September 30, 2009. |
2. | This financial summary report contains forward-looking statements regarding estimations, forecasts, targets and plans in relation to the results of operations, financial conditions and other overall management of the company and/or the group as a whole (the “forward-looking statements”). The forward-looking statements are made based upon, among other things, the company’s current estimations, perceptions and evaluations. In addition, in order for the company to adopt such estimations, forecasts, targets and plans regarding future events, certain assumptions have been made. Accordingly, due to various risks and uncertainties, the statements and assumptions are inherently not guarantees of future performance, may be considered differently from alternative perspectives and may result in material differences from the actual result. For the main factors that may effect the current forecasts, please see Consolidated Summary Report, Annual Securities Report, Disclosure Book, Annual Report, and other current disclosures that the company has announced. |
3. | The financial information included in this financial summary report is prepared and presented in accordance with accounting principles generally accepted in Japan (“Japanese GAAP”). Differences exist between Japanese GAAP and the accounting principles generally accepted in the United States (“U.S. GAAP”) in certain material respects. Such differences have resulted in the past, and are expected to continue to result for this period and future periods, in amounts for certain financial statement line items under U.S. GAAP to differ significantly from the amounts under Japanese GAAP. For example, differences in consolidation basis or accounting for business combinations, including but not limited to amortization and impairment of goodwill, could result in significant differences in our reported financial results between Japanese GAAP and U.S. GAAP. Readers should consult their own professional advisors for an understanding of the differences between Japanese GAAP and U.S. GAAP and how those differences might affect our reported financial results. We will publish U.S. GAAP financial results in a separate disclosure document when such information becomes available. |
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Mitsubishi UFJ Financial Group, Inc.
(Dividends on preferred stocks)
Dividends per share relating to preferred stocks are as follows:
Dividends per Share | ||||||||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | Total | ||||||
yen | yen | yen | yen | yen | ||||||
Preferred Stock First Series of Class 3 | ||||||||||
Fiscal year ended March 31, 2009 | — | 30.00 | — | 30.00 | 60.00 | |||||
Fiscal year ending March 31, 2010 | — | 30.00 | ||||||||
Fiscal year ending March 31, 2010 (Forecast) | — | 30.00 | 60.00 | |||||||
Dividends per Share | ||||||||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | Total | ||||||
yen | yen | yen | yen | yen | ||||||
Preferred Stock First Series of Class 5 | ||||||||||
Fiscal year ended March 31, 2009 | — | 43.00 | 43.00 | |||||||
Fiscal year ending March 31, 2010 | — | 57.50 | ||||||||
Fiscal year ending March 31, 2010 (Forecast) | — | 57.50 | 115.00 | |||||||
(Note) MUFG issued Preferred Stock First Series of Class 5 in November 2008. | ||||||||||
Dividends per Share | ||||||||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | Total | ||||||
yen | yen | yen | yen | yen | ||||||
Preferred Stock Class 11 | ||||||||||
Fiscal year ended March 31, 2009 | — | 2.65 | — | 2.65 | 5.30 | |||||
Fiscal year ending March 31, 2010 | — | 2.65 | ||||||||
Fiscal year ending March 31, 2010 (Forecast) | — | 2.65 | 5.30 | |||||||
Dividends per Share | ||||||||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | Total | ||||||
yen | yen | yen | yen | yen | ||||||
Preferred Stock Class 12 | ||||||||||
Fiscal year ended March 31, 2009 | — | 5.75 | — | 5.75 |
(Note) MUFG repurchased Preferred Stock Class 12 until February 2009 due to requests for repurchase and cancelled until February 2009.
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Mitsubishi UFJ Financial Group, Inc.
Qualitative Information and Financial Statements
1. Qualitative information related to the results of operations
With respect to the economic and financial environment for the April-September period of fiscal 2009, the US and European economies have turned to positive growth and continued to improve further due to financial and monetary packages addressing the global financial crisis. Asian economies followed recovery path prior to the Western economies supported by stimulus package effects. As for the Japanese economy, exports and production continued to recover due to improvement in overseas economies, largest-ever stimulus packages and progress in inventory adjustment. Private consumption was also pushed up by economic measure effects. Business fixed investment, however, declined as economic activity remained at an extremely low level and poor corporate performance continued. The employment and income situation also followed a worsening trend.
In the financial environment, the policy rate remained virtually zero in the United States as non-performing loans continued to increase rapidly. In the Euro zone, the European Central Bank cut its key interest rate to 1.0 percent. Japan’s short-term interest rates moderately declined, in response to the Bank of Japan’s continued monetary easing policy such as the ultra-low interest rate policy, purchase of CP and corporate bonds, and the special funds-supplying operations to facilitate corporate financing. Long-term interest rates followed a downward trend, after rising toward the beginning of June amid concerns over the worsening of fiscal conditions due to large-scale economic stimulus measures in Japan and abroad. In the foreign exchange market, the yen-dollar exchange rates followed a strong yen trend with some fluctuation, reflecting the narrowing spread of domestic and overseas interest rates.
Under such business environment, consolidated gross profits for the six months ended September 30, 2009 increased by 116.6 billion yen from the previous interim period to 1,813.2 billion yen. This was mainly due to increase in domestic and overseas lending income, market product income and a new consolidation of ACOM CO., LTD., despite of decrease in deposit income caused by the decline of interest-rates. General and administrative expenses decreased by 11.2 billion yen from the previous interim period to 1,061.4 billion yen due to an intensive corporate-wide cost reduction as well as the effect of the system integration. As a result, net business profits increased by 127.9 billion yen from the previous interim period to 751.7 billion yen.
Credit costs for the six months ended September 30, 2009 increased by 109.3 billion yen from the previous interim period to 444.2 billion yen, mainly due to an increase in credit costs from our subsidiaries other than BTMU and MUTB, primarily from our overseas subsidiaries, and the consolidation of ACOM CO., LTD., while combined credit costs of BTMU and MUTB decreased from the previous interim period. Net gains on equity securities for the six months ended September 30, 2009 increased by 88.6 billion yen due to decrease in losses on write-down of equity securities and other non-recurring losses for six months ended September 30, 2009 increased by 62.3 billion yen from the previous interim period due to an increase in retirement benefit costs.
Based on the above results, ordinary profits for the six months ended September 30, 2009 was 233.0 billion yen, an increase of 44.9 billion yen from the previous interim period and consolidated net income for the six months ended September 30, 2009 was 140.9 billion yen, an increase of 48.9 billion yen from the previous interim period.
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Mitsubishi UFJ Financial Group, Inc.
(in billions of Japanese yen) | |||||||||
For the six months ended September 30, 2009 | For the six months ended September 30, 2008 | Increase (Decrease) | |||||||
Gross Profits before credit costs for trust accounts | 1,813.2 | 1,696.5 | 116.6 | ||||||
General and administrative expenses | 1,061.4 | 1,072.7 | (11.2 | ) | |||||
Net business profits | 751.7 | 623.8 | 127.9 | ||||||
Credit costs | (444.2 | ) | (334.9 | ) | (109.3 | ) | |||
Net gains (losses) on equity securities | 13.3 | (75.2 | ) | 88.6 | |||||
Other non-recurring losses | (87.7 | ) | (25.4 | ) | (62.3 | ) | |||
Ordinary profits | 233.0 | 188.1 | 44.9 | ||||||
Net income | 140.9 | 92.0 | 48.9 | ||||||
2. Qualitative information related to the financial conditions
Total assets as of September 30, 2009 increased by 4,068.1 billion yen from March 31, 2009 to 202,802.1 billion yen, and total net assets as of September 30, 2009 increased by 1,374.9 billion yen from March 31, 2009 to 9,945.6 billion yen. The increase in total net assets reflected an increase of total valuation and translation adjustments of 1,011.5 billion yen, which was mainly due to an increase of net unrealized gains on other securities by the higher stock prices.
With regards to major items of assets, securities as of September 30, 2009 increased by 9,070.2 billion yen from March 31, 2009 to 57,384.3 billion yen and loans and bills discounted as of September 30, 2009 decreased by 4,024.7 billion yen from March 31, 2009 to 88,032.0 billion yen. With regards to major items of liabilities, deposits as of September 30, 2009 increased by 1,894.1 billion yen from March 31, 2009 to 122,043.7 billion yen.
MUFG’s consolidated risk-adjusted capital ratio based on the Basel 2 Standards as of September 30, 2009 was 13.29 % (preliminary basis), an increase of 1.52 points from March 31, 2009.
3. Qualitative information related to the earnings forecasts
MUFG has the target of 300.0 billion yen of consolidated net income for the fiscal year ending March 31, 2010. (There are no changes to our earnings targets released on May 19, 2009.)
MUFG is engaged in financial service businesses such as banking business, trust banking business, securities business and credit card/loan businesses. Because there are various uncertainties caused by economic situation, market environments and other factors in these businesses, MUFG discloses a target of its consolidated net income instead of a forecast of its performance.
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Mitsubishi UFJ Financial Group, Inc.
[Reference]
(in billions of Japanese yen) | For the fiscal year ending March 31, 2010 | For the six months ended September 30, 2009 (Results) | For the fiscal year ended March 31, 2009 (Results) | For the six months ended September 30, 2008 (Results) | |||||
Consolidated ordinary profits | 600.0 | 233.0 | 82.8 | 188.1 | |||||
Consolidated net income (loss) | 300.0 | 140.9 | (256.9 | ) | 92.0 | ||||
<2 Banks on a stand-alone basis> | |||||||||
The Bank of Tokyo-Mitsubishi UFJ, Ltd. | |||||||||
Net business profits before provision for general allowance for credit losses | 865.0 | 408.0 | 710.8 | 359.5 | |||||
Ordinary profits (losses) | 365.0 | 125.0 | (199.4 | ) | 37.8 | ||||
Net income (loss) | 245.0 | 130.7 | (366.3 | ) | 25.0 | ||||
Mitsubishi UFJ Trust and Banking Corporation | |||||||||
Net business profits before credit costs for trust accounts and provision for general allowance for credit losses | 120.0 | 52.9 | 131.5 | 78.5 | |||||
Ordinary profits (losses) | 65.0 | 35.3 | 50.8 | 53.4 | |||||
Net income (loss) | 45.0 | 24.7 | 16.8 | 31.9 |
4. Other
(1) | Changes in scope of consolidation involving “Specified Subsidiaries” (Tokutei Kogaisha) during the period |
The following Specified Subsidiaries were newly consolidated during the period.
Name | Location | Stated Capital | Primary Business | Ownership | ||||||
MUFG Capital Finance 9 Limited | Grand Cayman, Cayman Islands | ¥ | 370,010 million | Finance | 100 | % | ||||
BTMU Preferred Capital 9 Limited | Grand Cayman, Cayman Islands | ¥ | 370,010 million | Finance | 100 (100 | % %) |
Note | 1. Both of these Specified Subsidiaries are overseas special purpose companies established for issuance of Non-dilutive Preferred Securities. | |
2. The bracketed number in “Ownership” means MUFG’s indirect ownership share through subsidiaries. |
(2) | Changes in accounting policies, procedures and presentation rules applied in the preparation of the interim consolidated financial statements |
Not applicable
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Mitsubishi UFJ Financial Group, Inc.
5. Consolidated Financial Statements
(1) Consolidated Balance Sheets
(in millions of yen) | ||||||
As of September 30, 2009 | As of March 31, 2009 | |||||
Assets: | ||||||
Cash and due from banks | 7,779,378 | 6,562,376 | ||||
Call loans and bills bought | 399,726 | 293,415 | ||||
Receivables under resale agreements | 3,363,764 | 2,544,848 | ||||
Receivables under securities borrowing transactions | 5,845,064 | 6,797,026 | ||||
Monetary claims bought | 3,168,282 | 3,394,519 | ||||
Trading assets | 17,678,766 | 17,452,426 | ||||
Money held in trust | 341,589 | 326,298 | ||||
Securities | 57,384,396 | 48,314,122 | ||||
Allowance for losses on securities | (31,916 | ) | (37,104 | ) | ||
Loans and bills discounted | 88,032,042 | 92,056,820 | ||||
Foreign exchanges | 955,397 | 1,058,640 | ||||
Other assets | 6,604,604 | 7,795,056 | ||||
Tangible fixed assets | 1,399,983 | 1,380,900 | ||||
Intangible fixed assets | 1,164,879 | 1,209,783 | ||||
Deferred tax assets | 856,257 | 1,235,139 | ||||
Customers’ liabilities for acceptances and guarantees | 9,114,298 | 9,534,900 | ||||
Allowance for credit losses | (1,254,412 | ) | (1,185,266 | ) | ||
Total assets | 202,802,103 | 198,733,906 | ||||
Liabilities: | ||||||
Deposits | 122,043,723 | 120,149,591 | ||||
Negotiable certificates of deposit | 9,585,670 | 7,570,547 | ||||
Call money and bills sold | 2,537,568 | 2,272,292 | ||||
Payables under repurchase agreements | 12,787,963 | 11,926,997 | ||||
Payables under securities lending transactions | 3,947,901 | 4,270,365 | ||||
Commercial papers | 88,759 | 141,436 | ||||
Trading liabilities | 9,380,537 | 9,868,818 | ||||
Borrowed money | 6,645,428 | 7,729,256 | ||||
Foreign exchanges | 865,759 | 804,425 | ||||
Short-term bonds payable | 326,401 | 323,959 | ||||
Bonds payable | 6,947,086 | 6,485,158 | ||||
Due to trust accounts | 1,762,003 | 1,798,223 | ||||
Other liabilities | 6,197,848 | 6,634,917 | ||||
Reserve for bonuses | 50,177 | 42,615 | ||||
Reserve for bonuses to directors | 340 | 150 | ||||
Reserve for retirement benefits | 86,252 | 94,623 | ||||
Reserve for retirement benefits to directors | 1,568 | 1,958 | ||||
Reserve for loyalty award credits | 10,661 | 8,854 | ||||
Reserve for contingent losses | 244,801 | 277,608 | ||||
Reserves under special laws | 3,094 | 3,339 | ||||
Deferred tax liabilities | 36,429 | 28,993 | ||||
Deferred tax liabilities for land revaluation | 192,194 | 194,228 | ||||
Acceptances and guarantees | 9,114,298 | 9,534,900 | ||||
Total liabilities | 192,856,471 | 190,163,264 | ||||
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Mitsubishi UFJ Financial Group, Inc.
(in millions of yen) | ||||||
As of September 30, 2009 | As of March 31, 2009 | |||||
Net assets: | ||||||
Capital stock | 1,620,896 | 1,620,896 | ||||
Capital surplus | 1,897,919 | 1,898,031 | ||||
Retained earnings | 4,238,262 | 4,168,625 | ||||
Treasury stock | (5,927 | ) | (6,867 | ) | ||
Total shareholders’ equity | 7,751,150 | 7,680,685 | ||||
Net unrealized gains (losses) on other securities | 126,439 | (776,397 | ) | |||
Net deferred gains (losses) on hedging instruments | 108,093 | 111,001 | ||||
Land revaluation excess | 144,093 | 142,502 | ||||
Foreign currency translation adjustments | (190,502 | ) | (302,352 | ) | ||
Pension liability adjustments of subsidiaries preparing financial statements under US GAAP | (53,647 | ) | (51,822 | ) | ||
Total valuation and translation adjustments | 134,476 | (877,067 | ) | |||
Subscription rights to shares | 5,429 | 4,650 | ||||
Minority interests | 2,054,575 | 1,762,372 | ||||
Total net assets | 9,945,632 | 8,570,641 | ||||
Total liabilities and net assets | 202,802,103 | 198,733,906 | ||||
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Mitsubishi UFJ Financial Group, Inc.
(2) Consolidated Statements of Operations
(in millions of yen) | ||||||
For the six months ended September 30, 2008 | For the six months ended September 30, 2009 | |||||
Ordinary income | 2,925,113 | 2,618,434 | ||||
Interest income | 1,842,261 | 1,500,108 | ||||
Interest on loans and bills discounted | 1,134,155 | 1,003,524 | ||||
Interest and dividends on securities | 356,656 | 304,769 | ||||
Trust fees | 67,097 | 52,456 | ||||
Fees and commissions | 592,473 | 572,542 | ||||
Trading income | 126,317 | 167,472 | ||||
Other business income | 174,846 | 209,473 | ||||
Other ordinary income | 122,116 | 116,381 | ||||
Ordinary expenses | 2,736,996 | 2,385,386 | ||||
Interest expenses | 872,046 | 385,012 | ||||
Interest on deposits | 374,699 | 173,396 | ||||
Fees and commissions | 87,443 | 79,387 | ||||
Trading expenses | 1,191 | — | ||||
Other business expenses | 146,147 | 224,521 | ||||
General and administrative expenses | 1,084,363 | 1,111,730 | ||||
Other ordinary expenses | 545,803 | 584,735 | ||||
Ordinary profits | 188,117 | 233,047 | ||||
Extraordinary gains | 61,417 | 36,705 | ||||
Gains on disposition of fixed assets | 6,718 | 5,331 | ||||
Gains on loans written-off | 14,388 | 24,804 | ||||
Reversal of reserve for contingent liabilities from financial instruments transactions | 1,308 | 244 | ||||
Gains on sales of equity securities of subsidiaries | 32,814 | — | ||||
Impact upon the adoption of the Accounting standard for lease transactions | 6,186 | — | ||||
Reversal of allowance for losses on investments | — | 5,026 | ||||
Others | — | 1,297 | ||||
Extraordinary losses | 60,787 | 55,378 | ||||
Losses on disposition of fixed assets | 8,511 | 14,348 | ||||
Losses on impairment of fixed assets | 4,879 | 10,097 | ||||
Provision for reserve for losses relating to business restructuring | 197 | — | ||||
Expenses relating to systems integration | 47,198 | — | ||||
Amortization of goodwill | — | 27,918 | ||||
Others | — | 3,012 | ||||
Income before income taxes and others | 188,747 | 214,374 | ||||
Income taxes-current | 47,772 | 50,242 | ||||
Refund of income taxes | — | (16,090 | ) | |||
Income taxes-deferred | (168 | ) | 8,442 | |||
Total taxes | 47,604 | 42,593 | ||||
Minority interests | 49,120 | 30,832 | ||||
Net income | 92,023 | 140,948 | ||||
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Mitsubishi UFJ Financial Group, Inc.
(3) Consolidated Statements of Changes in Net Assets
(in millions of yen) | ||||||
For the six months ended September 30, 2008 | For the six months ended September 30, 2009 | |||||
Shareholders’ equity | ||||||
Capital stock | ||||||
Balance at the end of the previous period | 1,383,052 | 1,620,896 | ||||
Balance at the end of the period | 1,383,052 | 1,620,896 | ||||
Capital surplus | ||||||
Balance at the end of the previous period | 1,865,696 | 1,898,031 | ||||
Changes during the period | ||||||
Disposition of treasury stock | (87,835 | ) | (32 | ) | ||
Change of application of equity method | — | (78 | ) | |||
Total changes during the period | (87,835 | ) | (111 | ) | ||
Balance at the end of the period | 1,777,860 | 1,897,919 | ||||
Retained earnings | ||||||
Balance at the end of the previous period | 4,592,960 | 4,168,625 | ||||
Changes during the period | ||||||
Dividends from retained earnings | (75,855 | ) | (67,879 | ) | ||
Net income | 92,023 | 140,948 | ||||
Reversal of land revaluation excess | (353 | ) | (1,591 | ) | ||
Change of application of equity method | — | (1,840 | ) | |||
Increase in companies accounted for under the equity method | 5,763 | — | ||||
Prior year adjustments on retained earnings of companies accounted for under the equity method | (16,802 | ) | — | |||
Increase due to unification of accounting policies applied to foreign subsidiaries | 778 | — | ||||
Decrease due to unification of accounting policies applied to foreign subsidiaries | (6,669 | ) | — | |||
Total changes during the period | (1,114 | ) | 69,637 | |||
Balance at the end of the period | 4,591,845 | 4,238,262 | ||||
Treasury stock | ||||||
Balance at the end of the previous period | (726,001 | ) | (6,867 | ) | ||
Changes during the period | ||||||
Repurchase of treasury stock | (732 | ) | (34 | ) | ||
Disposition of treasury stock | 287,358 | 974 | ||||
Total changes during the period | 286,626 | 939 | ||||
Balance at the end of the period | (439,375 | ) | (5,927 | ) | ||
10
Mitsubishi UFJ Financial Group, Inc.
(in millions of yen) | ||||||
For the six months ended September 30, 2008 | For the six months ended September 30, 2009 | |||||
Total shareholders’ equity | ||||||
Balance at the end of the previous period | 7,115,707 | 7,680,685 | ||||
Changes during the period | ||||||
Dividends from retained earnings | (75,855 | ) | (67,879 | ) | ||
Net income | 92,023 | 140,948 | ||||
Repurchase of treasury stock | (732 | ) | (34 | ) | ||
Disposition of treasury stock | 199,522 | 941 | ||||
Reversal of land revaluation excess | (353 | ) | (1,591 | ) | ||
Change of application of equity method | — | (1,919 | ) | |||
Increase in companies accounted for under the equity method | 5,763 | — | ||||
Prior year adjustments on retained earnings of companies accounted for under the equity method | (16,802 | ) | — | |||
Increase due to unification of accounting policies applied to foreign subsidiaries | 778 | — | ||||
Decrease due to unification of accounting policies applied to foreign subsidiaries | (6,669 | ) | — | |||
Total changes during the period | 197,675 | 70,465 | ||||
Balance at the end of the period | 7,313,383 | 7,751,150 | ||||
Valuation and translation adjustments | ||||||
Net unrealized gains (losses) on other securities | ||||||
Balance at the end of the previous period | 595,352 | (776,397 | ) | |||
Changes during the period | ||||||
Net changes of items other than shareholders’ equity | (634,596 | ) | 902,836 | |||
Total changes during the period | (634,596 | ) | 902,836 | |||
Balance at the end of the period | (39,243 | ) | 126,439 | |||
Net deferred gains (losses) on hedging instruments | ||||||
Balance at the end of the previous period | 79,043 | 111,001 | ||||
Changes during the period | ||||||
Net changes of items other than shareholders’ equity | (76,297 | ) | (2,907 | ) | ||
Total changes during the period | (76,297 | ) | (2,907 | ) | ||
Balance at the end of the period | 2,745 | 108,093 | ||||
Land revaluation excess | ||||||
Balance at the end of the previous period | 143,292 | 142,502 | ||||
Changes during the period | ||||||
Net changes of items other than shareholders’ equity | 355 | 1,591 | ||||
Total changes during the period | 355 | 1,591 | ||||
Balance at the end of the period | 143,647 | 144,093 | ||||
Foreign currency translation adjustments | ||||||
Balance at the end of the previous period | (52,566 | ) | (302,352 | ) | ||
Changes during the period | ||||||
Net changes of items other than shareholders’ equity | (43,740 | ) | 111,849 | |||
Total changes during the period | (43,740 | ) | 111,849 | |||
Balance at the end of the period | (96,306 | ) | (190,502 | ) | ||
Pension liability adjustments of subsidiaries preparing financial statements under US GAAP | ||||||
Balance at the end of the previous period | — | (51,822 | ) | |||
Changes during the period | ||||||
Net changes of items other than shareholders’ equity | (12,392 | ) | (1,825 | ) | ||
Total changes during the period | (12,392 | ) | (1,825 | ) | ||
Balance at the end of the period | (12,392 | ) | (53,647 | ) | ||
11
Mitsubishi UFJ Financial Group, Inc.
(in millions of yen) | ||||||
For the six months ended September 30, 2008 | For the six months ended September 30, 2009 | |||||
Total valuation and translation adjustments | ||||||
Balance at the end of the previous period | 765,121 | (877,067 | ) | |||
Changes during the period | ||||||
Net changes of items other than shareholders’ equity | (766,671 | ) | 1,011,543 | |||
Total changes during the period | (766,671 | ) | 1,011,543 | |||
Balance at the end of the period | (1,549 | ) | 134,476 | |||
Subscription rights to shares | ||||||
Balance at the end of the previous period | 2,509 | 4,650 | ||||
Changes during the period | ||||||
Net changes of items other than shareholders’ equity | 1,165 | 778 | ||||
Total changes during the period | 1,165 | 778 | ||||
Balance at the end of the period | 3,674 | 5,429 | ||||
Minority interests | ||||||
Balance at the end of the previous period | 1,716,370 | 1,762,372 | ||||
Changes during the period | ||||||
Net changes of items other than shareholders’ equity | 10,725 | 292,203 | ||||
Total changes during the period | 10,725 | 292,203 | ||||
Balance at the end of the period | 1,727,096 | 2,054,575 | ||||
Total net assets | ||||||
Balance at the end of the previous period | 9,599,708 | 8,570,641 | ||||
Changes during the period | ||||||
Dividends from retained earnings | (75,855 | ) | (67,879 | ) | ||
Net income | 92,023 | 140,948 | ||||
Repurchase of treasury stock | (732 | ) | (34 | ) | ||
Disposition of treasury stock | 199,522 | 941 | ||||
Reversal of land revaluation excess | (353 | ) | (1,591 | ) | ||
Change of application of equity method | — | (1,919 | ) | |||
Increase in companies accounted for under the equity method | 5,763 | — | ||||
Prior year adjustments on retained earnings of companies accounted for under the equity method | (16,802 | ) | — | |||
Increase due to unification of accounting policies applied to foreign subsidiaries | 778 | — | ||||
Decrease due to unification of accounting policies applied to foreign subsidiaries | (6,669 | ) | — | |||
Net changes of items other than shareholders’ equity | (754,780 | ) | 1,304,525 | |||
Total changes during the period | (557,104 | ) | 1,374,990 | |||
Balance at the end of the period | 9,042,604 | 9,945,632 | ||||
12
Mitsubishi UFJ Financial Group, Inc.
(4) Notes on Going-Concern Assumption
Not applicable
13
Mitsubishi UFJ Financial Group, Inc.
6. Non-consolidated Financial Statements
(1) Non-consolidated Balance Sheets
(in millions of yen) | ||||||
As of September 30, 2009 | As of March 31, 2009 | |||||
Assets: | ||||||
Current assets: | ||||||
Cash and due from banks | 91,638 | 33,602 | ||||
Accounts receivable | 24,200 | 52,191 | ||||
Other | 45,404 | 50,497 | ||||
Total current assets | 161,243 | 136,291 | ||||
Fixed assets: | ||||||
Tangible fixed assets | 280 | 255 | ||||
Intangible fixed assets | 1,337 | 1,066 | ||||
Investments and other assets | 9,944,292 | 9,691,665 | ||||
Investment securities | 886,142 | 886,634 | ||||
Investments in subsidiaries and affiliates | 9,059,633 | 8,806,543 | ||||
Other | 250 | 221 | ||||
Allowance for losses on investments | (1,733 | ) | (1,733 | ) | ||
Total fixed assets | 9,945,910 | 9,692,987 | ||||
Total assets | 10,107,154 | 9,829,278 | ||||
Liabilities: | ||||||
Current liabilities: | ||||||
Short-term borrowings | 1,002,648 | 1,032,670 | ||||
Current portion of bonds payable | 200,000 | 100,000 | ||||
Current portion of long-term borrowings | 257,252 | 12,800 | ||||
Lease liabilities | 46 | 11 | ||||
Accounts payable | 1,058 | 1,372 | ||||
Income taxes payable | 325 | 400 | ||||
Reserve for bonuses | 307 | 299 | ||||
Other | 7,071 | 22,074 | ||||
Total current liabilities | 1,468,709 | 1,169,628 | ||||
Fixed liabilities: | ||||||
Bonds payable | 510,500 | 230,000 | ||||
Long-term borrowings from subsidiaries and affiliates | 463,110 | 707,573 | ||||
Lease liabilities | 173 | 39 | ||||
Other | 14,019 | 4,729 | ||||
Total fixed liabilities | 987,802 | 942,342 | ||||
Total liabilities | 2,456,512 | 2,111,971 | ||||
Net assets: | ||||||
Shareholders’ equity: | ||||||
Capital stock | 1,620,896 | 1,620,896 | ||||
Capital surplus: | ||||||
Capital reserve | 1,620,914 | 1,620,914 | ||||
Other capital surplus | 2,109,937 | 2,109,970 | ||||
Total capital surplus | 3,730,851 | 3,730,884 | ||||
Retained earnings: | ||||||
Other retained earnings: | ||||||
Other reserve | 150,000 | 150,000 | ||||
Earned surplus brought forward | 2,129,702 | 2,211,855 | ||||
Total retained earnings | 2,279,702 | 2,361,855 | ||||
Treasury stock | (31 | ) | (979 | ) | ||
Total shareholders’ equity | 7,631,419 | 7,712,656 | ||||
Valuation and translation adjustments: | ||||||
Net unrealized gains (losses) on other securities | 13,794 | — | ||||
Total valuation and translation adjustments | 13,794 | — | ||||
Subscription rights to shares | 5,429 | 4,650 | ||||
Total net assets | 7,650,642 | 7,717,307 | ||||
Total liabilities and net assets | 10,107,154 | 9,829,278 | ||||
14
Mitsubishi UFJ Financial Group, Inc.
(2) Non-consolidated Statements of Operations
(in millions of yen) | ||||||
For the six months ended September 30, 2008 | For the six months ended September 30, 2009 | |||||
Operating income | 247,861 | 143,203 | ||||
Operating expenses | 7,979 | 8,632 | ||||
Operating profits | 239,882 | 134,571 | ||||
Non-operating income | 432 | 5,917 | ||||
Non-operating expenses | 8,907 | 23,649 | ||||
Ordinary profits | 231,407 | 116,839 | ||||
Extraordinary gains | 32,487 | 563 | ||||
Extraordinary losses | — | 126,459 | ||||
Income (loss) before income taxes | 263,895 | (9,056 | ) | |||
Income taxes-current | 142 | 4,231 | ||||
Income taxes-deferred | (27,350 | ) | 919 | |||
Total taxes | (27,208 | ) | 5,151 | |||
Net income (loss) | 291,103 | (14,207 | ) | |||
15
Mitsubishi UFJ Financial Group, Inc.
(3) Non-consolidated Statements of Changes in Net Assets
(in millions of yen) | ||||||
For the six months ended September 30, 2008 | For the six months ended September 30, 2009 | |||||
Shareholders’ equity | ||||||
Capital stock | ||||||
Balance at the end of the previous period | 1,383,052 | 1,620,896 | ||||
Balance at the end of the period | 1,383,052 | 1,620,896 | ||||
Capital surplus | ||||||
Capital reserve | ||||||
Balance at the end of the previous period | 1,383,070 | 1,620,914 | ||||
Balance at the end of the period | 1,383,070 | 1,620,914 | ||||
Other capital surplus | ||||||
Balance at the end of the previous period | 2,497,841 | 2,109,970 | ||||
Changes during the period | ||||||
Disposition of treasury stock | (262 | ) | (32 | ) | ||
Increase by share exchange | (387,560 | ) | — | |||
Total changes during the period | (387,822 | ) | (32 | ) | ||
Balance at the end of the period | 2,110,019 | 2,109,937 | ||||
Retained earnings | ||||||
Other retained earnings | ||||||
Other reserve | ||||||
Balance at the end of the previous period | 150,000 | 150,000 | ||||
Balance at the end of the period | 150,000 | 150,000 | ||||
Earned surplus brought forward | ||||||
Balance at the end of the previous period | 2,065,219 | 2,211,855 | ||||
Changes during the period | ||||||
Dividends from retained earnings | (75,859 | ) | (67,945 | ) | ||
Net income (loss) | 291,103 | (14,207 | ) | |||
Total changes during the period | 215,243 | (82,152 | ) | |||
Balance at the end of the period | 2,280,463 | 2,129,702 | ||||
Treasury stock | ||||||
Balance at the end of the previous period | (724,571 | ) | (979 | ) | ||
Changes during the period | ||||||
Repurchase of treasury stock | (239,530 | ) | (20 | ) | ||
Disposition of treasury stock | 648,905 | 968 | ||||
Total changes during the period | 409,375 | 947 | ||||
Balance at the end of the period | (315,196 | ) | (31 | ) | ||
Total shareholders’ equity | ||||||
Balance at the end of the previous period | 6,754,613 | 7,712,656 | ||||
Changes during the period | ||||||
Dividends from retained earnings | (75,859 | ) | (67,945 | ) | ||
Net income (loss) | 291,103 | (14,207 | ) | |||
Repurchase of treasury stock | (239,530 | ) | (20 | ) | ||
Disposition of treasury stock | 648,642 | 935 | ||||
Increase by share exchange | (387,560 | ) | — | |||
Total changes during the period | 236,796 | (81,237 | ) | |||
Balance at the end of the period | 6,991,409 | 7,631,419 | ||||
16
Mitsubishi UFJ Financial Group, Inc.
(in millions of yen) | ||||||
For the six months ended September 30, 2008 | For the six months ended September 30, 2009 | |||||
Valuation and translation adjustments | ||||||
Net unrealized gains (losses) on other securities | ||||||
Balance at the end of the previous period | — | — | ||||
Changes during the period | ||||||
Net changes of items other than shareholders’ equity | — | 13,794 | ||||
Total changes during the period | — | 13,794 | ||||
Balance at the end of the period | — | 13,794 | ||||
Subscription rights to shares | ||||||
Balance at the end of the previous period | 2,408 | 4,650 | ||||
Changes during the period | ||||||
Net changes of items other than shareholders’ equity | 1,154 | 778 | ||||
Total changes during the period | 1,154 | 778 | ||||
Balance at the end of the period | 3,562 | 5,429 | ||||
Total net assets | ||||||
Balance at the end of the previous period | 6,757,021 | 7,717,307 | ||||
Changes during the period | ||||||
Dividends from retained earnings | (75,859 | ) | (67,945 | ) | ||
Net income (loss) | 291,103 | (14,207 | ) | |||
Repurchase of treasury stock | (239,530 | ) | (20 | ) | ||
Disposition of treasury stock | 648,642 | 935 | ||||
Increase by share exchange | (387,560 | ) | — | |||
Net changes of items other than shareholders’ equity | 1,154 | 14,572 | ||||
Total changes during the period | 237,950 | (66,665 | ) | |||
Balance at the end of the period | 6,994,971 | 7,650,642 | ||||
17
Mitsubishi UFJ Financial Group, Inc.
(4) Notes on Going-Concern Assumption
Not applicable
18