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 February, 2010
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 : February 3, 2010 | By | /s/ Fumikazu Tatsumi | ||
| Fumikazu Tatsumi | ||||
| Chief Manager | ||||
| Corporate Administration Division | ||||
Selected Financial Information
under Japanese GAAP
For the Nine Months Ended December 31, 2009
 |
Mitsubishi UFJ Financial Group, Inc. |
Mitsubishi UFJ Financial Group, Inc.
[Contents]
| 1. Financial Results | [ MUFG Consolidated ]*1 | 1 | ||
| [ BTMU and MUTB Combined ]*2*3*4 | ||||
| [ BTMU Non-consolidated ] | ||||
| [ MUTB Non-consolidated ] | ||||
| 2. Non Performing Loans Based on the Financial Reconstruction Law | [ BTMU and MUTB Combined including Trust Accounts ] | 5 | ||
| [ BTMU Non-consolidated ] | ||||
| [ MUTB Non-consolidated ] | ||||
| [ MUTB Non-consolidated : Trust Accounts ] | ||||
| 3. Fair Value Information on Securities | [ MUFG Consolidated ] | 6 | ||
| [ BTMU Non-consolidated ] | ||||
| [ MUTB Non-consolidated ] | ||||
| 4. ROE | [ MUFG Consolidated ] | 9 | ||
| 5. Average Interest Rate Spread | [ BTMU and MUTB Combined ] | 9 | ||
| 6. Loans and Deposits | [ BTMU and MUTB Combined ] | 9 | ||
| 7. Statements of Trust Assets and Liabilities | [ MUTB Non-consolidated ] | 10 | ||
| (Reference) | ||||
| Exposure to “Securitized Products and Related Investments” | 11 | |||
| (*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. |
Mitsubishi UFJ Financial Group, Inc.
MUFG Consolidated
| (in billions of yen) | |||||||||
| For the nine months ended | Increase (Decrease) (A) - (B) | ||||||||
| December 31, 2009 (A) | December 31, 2008 (B) | ||||||||
Gross profits | 2,689.8 | 2,492.8 | 196.9 | ||||||
Gross profits before credit costs for trust accounts | 2,689.8 | 2,492.8 | 196.9 | ||||||
Net interest income | 1,651.1 | 1,410.1 | 241.0 | ||||||
Trust fees | 76.3 | 92.9 | (16.5 | ) | |||||
Credit costs for trust accounts (1) | — | (0.0 | ) | 0.0 | |||||
Net fees and commissions | 717.1 | 722.8 | (5.7 | ) | |||||
Net trading profits | 198.4 | 188.9 | 9.4 | ||||||
Net other business profits | 46.8 | 77.9 | (31.1 | ) | |||||
Net gains (losses) on debt securities | 63.0 | 79.6 | (16.5 | ) | |||||
General and administrative expenses | 1,564.0 | 1,572.9 | (8.9 | ) | |||||
Amortization of goodwill | 24.9 | 16.2 | 8.6 | ||||||
Net business profits before credit costs for trust accounts, provision for general allowance for credit losses and amortization of goodwill | 1,150.7 | 936.1 | 214.6 | ||||||
Net business profits before credit costs for trust accounts and provision for general allowance for credit losses | 1,125.8 | 919.8 | 205.9 | ||||||
Provision for general allowance for credit losses (2) | (138.0 | ) | 30.2 | (168.2 | ) | ||||
Net business profits* | 987.8 | 950.1 | 37.6 | ||||||
Net non-recurring gains (losses) | (631.7 | ) | (836.2 | ) | 204.4 | ||||
Credit costs (3) | (489.7 | ) | (464.6 | ) | (25.0 | ) | |||
Losses on loan write-offs | (190.4 | ) | (260.4 | ) | 70.0 | ||||
Provision for specific allowance for credit losses | (283.6 | ) | (200.1 | ) | (83.5 | ) | |||
Other credit costs | (15.6 | ) | (4.0 | ) | (11.5 | ) | |||
Net gains (losses) on equity securities | (20.0 | ) | (326.3 | ) | 306.2 | ||||
Gains on sales of equity securities | 109.3 | 86.8 | 22.5 | ||||||
Losses on sales of equity securities | (65.2 | ) | (17.3 | ) | (47.8 | ) | |||
Losses on write-down of equity securities | (64.1 | ) | (395.7 | ) | 331.6 | ||||
Profits (losses) from investments in affiliates | 1.1 | 0.9 | 0.2 | ||||||
Other non-recurring gains (losses) | (123.1 | ) | (46.1 | ) | (76.9 | ) | |||
Ordinary profits | 356.0 | 113.9 | 242.1 | ||||||
Net extraordinary gains (losses) | 8.9 | (3.2 | ) | 12.2 | |||||
Gains on loans written-off | 40.6 | 24.4 | 16.2 | ||||||
Reversal of reserve for contingent losses included in credit costs (4) | — | 0.8 | (0.8 | ) | |||||
Gains on sales of equity securities of subsidiaries | 13.8 | 32.7 | (18.9 | ) | |||||
Amortization of goodwill | (27.9 | ) | — | (27.9 | ) | ||||
Income before income taxes and others | 365.0 | 110.6 | 254.3 | ||||||
Income taxes-current | 73.0 | 67.5 | 5.5 | ||||||
Refund of income taxes | (17.0 | ) | — | (17.0 | ) | ||||
Income taxes-deferred | 42.6 | 22.8 | 19.8 | ||||||
Total taxes | 98.6 | 90.3 | 8.2 | ||||||
Minority interests | 49.3 | 62.3 | (13.0 | ) | |||||
Net income | 217.0 | (42.0 | ) | 259.1 | |||||
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 | ||||||
(Reference) | |||||||||
Total credit costs (1)+(2)+(3)+(4) | (627.7 | ) | (433.5 | ) | (194.2 | ) | |||
1
Mitsubishi UFJ Financial Group, Inc.
BTMU and MUTB Combined
| (in billions of yen) | |||||||||
| For the nine months ended | Increase (Decrease) (A) - (B) | ||||||||
| December 31, 2009 (A) | December 31, 2008 (B) | ||||||||
Gross profits | 1,625.4 | 1,612.7 | 12.6 | ||||||
Gross profits before credit costs for trust accounts | 1,625.4 | 1,612.7 | 12.6 | ||||||
Net interest income | 1,108.0 | 1,063.2 | 44.7 | ||||||
Trust fees | 58.1 | 69.6 | (11.4 | ) | |||||
Credit costs for trust accounts (1) | — | (0.0 | ) | 0.0 | |||||
Net fees and commissions | 335.7 | 339.6 | (3.9 | ) | |||||
Net trading profits | 104.5 | 107.3 | (2.8 | ) | |||||
Net other business profits | 18.9 | 32.8 | (13.9 | ) | |||||
Net gains (losses) on debt securities | 54.6 | 85.7 | (31.1 | ) | |||||
General and administrative expenses | 909.0 | 974.4 | (65.3 | ) | |||||
Net business profits before credit costs for trust accounts and provision for general allowance for credit losses | 716.3 | 638.2 | 78.0 | ||||||
Provision for general allowance for credit losses (2) | (2.7 | ) | 33.5 | (36.2 | ) | ||||
Net business profits | 713.5 | 671.8 | 41.7 | ||||||
Net non-recurring gains (losses) | (448.0 | ) | (787.7 | ) | 339.6 | ||||
Credit costs (3) | (310.9 | ) | (333.7 | ) | 22.8 | ||||
Losses on loan write-offs | (169.4 | ) | (227.2 | ) | 57.8 | ||||
Provision for specific allowance for credit losses | (134.0 | ) | (103.4 | ) | (30.6 | ) | |||
Other credit costs | (7.4 | ) | (3.0 | ) | (4.4 | ) | |||
Net gains (losses) on equity securities | (51.3 | ) | (421.4 | ) | 370.1 | ||||
Gains on sales of equity securities | 78.2 | 65.5 | 12.7 | ||||||
Losses on sales of equity securities | (65.2 | ) | (16.1 | ) | (49.0 | ) | |||
Losses on write-down of equity securities | (64.3 | ) | (470.7 | ) | 406.4 | ||||
Other non-recurring gains (losses) | (85.8 | ) | (32.4 | ) | (53.3 | ) | |||
Ordinary profits | 265.4 | (115.9 | ) | 381.3 | |||||
Net extraordinary gains (losses) | 20.2 | 10.7 | 9.4 | ||||||
Gains on loans written-off | 30.8 | 21.0 | 9.7 | ||||||
Reversal of allowance for credit losses (4) | — | 7.6 | (7.6 | ) | |||||
Reversal of reserve for contingent losses included in credit | — | 0.9 | (0.9 | ) | |||||
Gains on sales of equity securities of subsidiaries | 4.5 | — | 4.5 | ||||||
Income before income taxes | 285.6 | (105.1 | ) | 390.8 | |||||
Income taxes-current | 31.4 | 15.0 | 16.3 | ||||||
Refund of income taxes | (9.8 | ) | — | (9.8 | ) | ||||
Income taxes-deferred | 35.2 | 61.5 | (26.3 | ) | |||||
Total taxes | 56.7 | 76.6 | (19.8 | ) | |||||
Net income | 228.9 | (181.7 | ) | 410.6 | |||||
(Reference) | |||||||||
Total credit costs (1)+(2)+(3)+(4)+(5) | (313.7 | ) | (291.6 | ) | (22.0 | ) | |||
2
Mitsubishi UFJ Financial Group, Inc.
BTMU Non-consolidated
| (in billions of yen) | |||||||||
| For the nine months ended | Increase (Decrease) (A) - (B) | ||||||||
| December 31, 2009 (A) | December 31, 2008 (B) | ||||||||
Gross profits | 1,391.2 | 1,346.6 | 44.5 | ||||||
Net interest income | 983.0 | 957.7 | 25.2 | ||||||
Net fees and commissions | 281.0 | 270.9 | 10.1 | ||||||
Net trading profits | 93.5 | 102.7 | (9.2 | ) | |||||
Net other business profits | 33.5 | 15.1 | 18.4 | ||||||
Net gains (losses) on debt securities | 65.9 | 49.2 | 16.6 | ||||||
General and administrative expenses | 761.5 | 826.5 | (64.9 | ) | |||||
Net business profits before provision for general allowance for credit losses | 629.6 | 520.1 | 109.5 | ||||||
Provision for general allowance for credit losses (1) | (7.4 | ) | 33.5 | (41.0 | ) | ||||
Net business profits | 622.1 | 553.6 | 68.5 | ||||||
Net non-recurring gains (losses) | (410.4 | ) | (728.5 | ) | 318.0 | ||||
Credit costs (2) | (292.1 | ) | (329.3 | ) | 37.1 | ||||
Losses on loan write-offs | (167.5 | ) | (222.9 | ) | 55.4 | ||||
Provision for specific allowance for credit losses | (117.4 | ) | (103.4 | ) | (14.0 | ) | |||
Other credit costs | (7.1 | ) | (2.9 | ) | (4.2 | ) | |||
Net gains (losses) on equity securities | (49.6 | ) | (371.7 | ) | 322.1 | ||||
Gains on sales of equity securities | 66.7 | 62.0 | 4.7 | ||||||
Losses on sales of equity securities | (64.8 | ) | (15.6 | ) | (49.2 | ) | |||
Losses on write-down of equity securities | (51.4 | ) | (418.0 | ) | 366.6 | ||||
Other non-recurring gains (losses) | (68.6 | ) | (27.4 | ) | (41.2 | ) | |||
Ordinary profits | 211.6 | (174.8 | ) | 386.5 | |||||
Net extraordinary gains (losses) | 20.9 | 5.8 | 15.0 | ||||||
Gains on loans written-off | 29.0 | 19.6 | 9.3 | ||||||
Gains on sales of equity securities of subsidiaries | 4.5 | — | 4.5 | ||||||
Income before income taxes | 232.6 | (169.0 | ) | 401.6 | |||||
Income taxes-current | 30.7 | 15.0 | 15.6 | ||||||
Refund of income taxes | (9.8 | ) | — | (9.8 | ) | ||||
Income taxes-deferred | 25.2 | 30.6 | (5.4 | ) | |||||
Total taxes | 46.0 | 45.7 | 0.3 | ||||||
Net income | 186.5 | (214.7 | ) | 401.2 | |||||
(Reference) | |||||||||
Total credit costs (1)+(2) | (299.6 | ) | (295.8 | ) | (3.8 | ) | |||
3
Mitsubishi UFJ Financial Group, Inc.
MUTB Non-consolidated
| (in billions of yen) | |||||||||
| For the nine months ended | Increase (Decrease) (A) - (B) | ||||||||
| December 31, 2009 (A) | December 31, 2008 (B) | ||||||||
Gross profits | 234.1 | 266.1 | (31.9 | ) | |||||
Gross profits before credit costs for trust accounts | 234.1 | 266.1 | (31.9 | ) | |||||
Trust fees | 58.1 | 69.6 | (11.4 | ) | |||||
Credit costs for trust accounts (1) | — | (0.0 | ) | 0.0 | |||||
Net interest income | 125.0 | 105.5 | 19.4 | ||||||
Net fees and commissions | 54.7 | 68.7 | (14.0 | ) | |||||
Net trading profits | 10.9 | 4.5 | 6.4 | ||||||
Net other business profits | (14.6 | ) | 17.6 | (32.3 | ) | ||||
Net gains (losses) on debt securities | (11.3 | ) | 36.5 | (47.8 | ) | ||||
General and administrative expenses | 147.5 | 147.9 | (0.4 | ) | |||||
Net business profits before credit costs for trust accounts and provision for general allowance for credit losses | 86.6 | 118.1 | (31.5 | ) | |||||
Provision for general allowance for credit losses (2) | 4.7 | — | 4.7 | ||||||
Net business profits | 91.3 | 118.1 | (26.7 | ) | |||||
Net non-recurring gains (losses) | (37.5 | ) | (59.1 | ) | 21.6 | ||||
Credit costs (3) | (18.7 | ) | (4.4 | ) | (14.3 | ) | |||
Losses on loan write-offs | (1.9 | ) | (4.3 | ) | 2.4 | ||||
Provision for specific allowance for credit losses | (16.6 | ) | — | (16.6 | ) | ||||
Other credit costs | (0.2 | ) | (0.0 | ) | (0.1 | ) | |||
Net gains (losses) on equity securities | (1.6 | ) | (49.7 | ) | 48.0 | ||||
Gains on sales of equity securities | 11.5 | 3.5 | 8.0 | ||||||
Losses on sales of equity securities | (0.3 | ) | (0.5 | ) | 0.1 | ||||
Losses on write-down of equity securities | (12.8 | ) | (52.6 | ) | 39.8 | ||||
Other non-recurring gains (losses) | (17.1 | ) | (5.0 | ) | (12.0 | ) | |||
Ordinary profits | 53.8 | 58.9 | (5.1 | ) | |||||
Net extraordinary gains (losses) | (0.7 | ) | 4.9 | (5.6 | ) | ||||
Reversal of allowance for credit losses (4) | — | 7.6 | (7.6 | ) | |||||
Reversal of reserve for contingent losses included in credit | — | 0.9 | (0.9 | ) | |||||
Income before income taxes | 53.0 | 63.9 | (10.8 | ) | |||||
Income taxes-current | 0.7 | 0.0 | 0.6 | ||||||
Income taxes-deferred | 10.0 | 30.9 | (20.8 | ) | |||||
Total taxes | 10.7 | 30.9 | (20.2 | ) | |||||
Net income | 42.3 | 32.9 | 9.3 | ||||||
(Reference) | |||||||||
Total credit costs (1)+(2)+(3)+(4)+(5) | (14.0 | ) | 4.1 | (18.2 | ) | ||||
4
Mitsubishi UFJ Financial Group, Inc.
2. Non Performing Loans Based on the Financial Reconstruction Law
BTMU and MUTB Combined including Trust Accounts
| (in billions of yen) | ||||||
| As of December 31, 2009 | As of March 31, 2009 | |||||
Bankrupt or De facto Bankrupt | 203.7 | 241.0 | ||||
Doubtful | 774.4 | 656.0 | ||||
Special Attention | 360.8 | 292.8 | ||||
Non Performing Loans | 1,339.0 | 1,189.9 | ||||
Total loans | 90,314.4 | 95,209.5 | ||||
Non Performing Loans / Total loans | 1.48 | % | 1.24 | % | ||
BTMU Non-consolidated
| ||||||
| (in billions of yen) | ||||||
| As of December 31, 2009 | As of March 31, 2009 | |||||
Bankrupt or De facto Bankrupt | 191.9 | 221.7 | ||||
Doubtful | 713.7 | 614.1 | ||||
Special Attention | 348.1 | 278.1 | ||||
Non Performing Loans | 1,253.9 | 1,114.1 | ||||
Total loans | 79,562.9 | 84,337.2 | ||||
Non Performing Loans / Total loans | 1.57 | % | 1.32 | % | ||
MUTB Non-consolidated
| ||||||
| (in billions of yen) | ||||||
| As of December 31, 2009 | As of March 31, 2009 | |||||
Bankrupt or De facto Bankrupt | 11.6 | 19.1 | ||||
Doubtful | 60.4 | 41.5 | ||||
Special Attention | 12.0 | 13.7 | ||||
Non Performing Loans | 84.2 | 74.5 | ||||
Total loans | 10,622.9 | 10,732.4 | ||||
Non Performing Loans / Total loans | 0.79 | % | 0.69 | % | ||
MUTB Non-consolidated: Trust Accounts
| ||||||
| (in billions of yen) | ||||||
| As of December 31, 2009 | As of March 31, 2009 | |||||
Bankrupt or De facto Bankrupt | 0.1 | 0.1 | ||||
Doubtful | 0.1 | 0.2 | ||||
Special Attention | 0.6 | 0.8 | ||||
Non Performing Loans | 0.9 | 1.3 | ||||
Total loans | 128.5 | 139.7 | ||||
Non Performing Loans / Total loans | 0.71 | % | 0.95 | % | ||
5
Mitsubishi UFJ Financial Group, Inc.
3. Fair Value Information on Securities
MUFG Consolidated
The tables include negotiable certificates of deposit in “Cash and due from banks”, beneficiary rights to the trust in “Monetary claims bought” and others in addition to “Securities”. Net unrealized gains (losses) are determined based on the fair values at the end of the fiscal period.
| (in billions of yen) | ||||||||||
| As of December 31, 2009 | As of March 31, 2009 | |||||||||
| Amount on consolidated balance sheet | Net unrealized gains (losses) | Amount on consolidated balance sheet | Net unrealized gains (losses) | |||||||
Debt securities being held to maturity | 3,239.8 | 60.4 | 3,250.3 | 5.8 | ||||||
| (in billions of yen) | ||||||||||
| As of December 31, 2009 | As of March 31, 2009 | |||||||||
| Amount on consolidated balance sheet | Net unrealized gains (losses) | Amount on consolidated balance sheet | Net unrealized gains (losses) | |||||||
Other securities | 47,507.1 | 528.7 | 41,595.2 | (917.7 | ) | |||||
Domestic equity securities | 4,184.6 | 489.0 | 3,732.5 | (179.8 | ) | |||||
Domestic bonds | 31,473.1 | 167.8 | 25,000.4 | (38.5 | ) | |||||
Other | 11,849.3 | (128.1 | ) | 12,862.2 | (699.4 | ) | ||||
Foreign equity securities | 279.9 | 70.5 | 107.9 | (20.6 | ) | |||||
Foreign bonds | 9,606.5 | 16.8 | 10,644.6 | (29.1 | ) | |||||
Other | 1,962.8 | (215.4 | ) | 2,109.6 | (649.5 | ) | ||||
6
Mitsubishi UFJ Financial Group, Inc.
BTMU Non-consolidated
The tables include negotiable certificates of deposit in “Cash and due from banks”, beneficiary rights to the trust in “Monetary claims bought” and others in addition to “Securities”. Net unrealized gains (losses) are determined based on the fair values at the end of the fiscal period.
| (in billions of yen) | ||||||||||
| As of December 31, 2009 | As of March 31, 2009 | |||||||||
| Amount on balance sheet | Net unrealized gains (losses) | Amount on balance sheet | Net unrealized gains (losses) | |||||||
Debt securities being held to maturity | 1,259.8 | 32.4 | 1,555.8 | (6.4 | ) | |||||
Stocks of subsidiaries and affiliates | 170.9 | (1.3 | ) | 191.1 | (43.0 | ) | ||||
| (in billions of yen) | ||||||||||
| As of December 31, 2009 | As of March 31, 2009 | |||||||||
| Amount on balance sheet | Net unrealized gains (losses) | Amount on balance sheet | Net unrealized gains (losses) | |||||||
Other securities | 37,686.8 | 346.6 | 33,142.1 | (729.9 | ) | |||||
Domestic equity securities | 3,324.4 | 253.8 | 2,943.1 | (294.9 | ) | |||||
Domestic bonds | 27,776.1 | 154.8 | 20,900.7 | (26.1 | ) | |||||
Other | 6,586.2 | (61.9 | ) | 9,298.2 | (408.8 | ) | ||||
Foreign equity securities | 147.7 | 50.2 | 83.8 | (17.7 | ) | |||||
Foreign bonds | 5,056.7 | (3.5 | ) | 7,772.3 | 18.9 | |||||
Other | 1,381.7 | (108.6 | ) | 1,442.0 | (410.0 | ) | ||||
7
Mitsubishi UFJ Financial Group, Inc.
MUTB Non-consolidated
The tables include beneficiary rights to the trusts in “Monetary claims bought” in addition to “Securities”. Net unrealized gains (losses) are determined based on the fair values at the end of the fiscal period.
| (in billions of yen) | ||||||||||
| As of December 31, 2009 | As of March 31, 2009 | |||||||||
| Amount on balance sheet | Net unrealized gains (losses) | Amount on balance sheet | Net unrealized gains (losses) | |||||||
Debt securities being held to maturity | 1,409.7 | 22.9 | 1,160.6 | 18.0 | ||||||
Stocks of subsidiaries and affiliates | 40.3 | (0.0 | ) | 2.8 | — | |||||
| (in billions of yen) | ||||||||||
| As of December 31, 2009 | As of March 31, 2009 | |||||||||
| Amount on balance sheet | Net unrealized gains (losses) | Amount on balance sheet | Net unrealized gains (losses) | |||||||
Other securities | 7,430.2 | 3.4 | 6,822.5 | (227.7 | ) | |||||
Domestic equity securities | 813.4 | 85.4 | 726.4 | (37.0 | ) | |||||
Domestic bonds | 3,319.0 | 20.0 | 3,556.0 | 3.3 | ||||||
Other | 3,297.6 | (102.0 | ) | 2,540.0 | (194.0 | ) | ||||
Foreign equity securities | 2.9 | 0.9 | 21.9 | (1.1 | ) | |||||
Foreign bonds | 2,750.1 | (6.2 | ) | 2,003.1 | (46.0 | ) | ||||
Other | 544.6 | (96.7 | ) | 514.9 | (146.7 | ) | ||||
8
Mitsubishi UFJ Financial Group, Inc.
MUFG Consolidated
| (%) | |||||
| For the nine months ended December 31, 2009 | For the nine months ended December 31, 2008 | ||||
| ROE* | 3.63 | (0.98 | ) | ||
| Note: | ||||
* ROE is computed as follows
| ||||
| Net income × 4/3 - Equivalent of annual dividends on nonconvertible preferred stocks | × 100 | |||
{(Total shareholders’ equity at the beginning of the period - Number of nonconvertible preferred stocks 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 stocks at the end of the period × Issue price + Foreign currency translation adjustments at the end of the period)} / 2 | ||||
5. Average Interest Rate Spread
BTMU and MUTB Combined
(Domestic business segment)
| (percentage per annum) | ||||
| For the nine months ended December 31, 2009 | For the nine months ended December 31, 2008 | |||
Average interest rate on loans and bills discounted | 1.54 | 1.76 | ||
Average interest rate on deposits and NCD | 0.20 | 0.31 | ||
Interest rate spread | 1.33 | 1.44 | ||
BTMU and MUTB Combined
| (in billions of yen) | ||||
| As of December 31, 2009 | As of March 31, 2009 | |||
Deposits (ending balance) | 112,983.6 | 113,175.5 | ||
Deposits (average balance) | 112,304.8 | 110,778.1 | ||
Loans (ending balance) | 79,714.5 | 84,258.7 | ||
Loans (average balance) | 81,408.5 | 81,196.5 | ||
| (in billions of yen) | ||||
| As of December 31, 2009 | As of March 31, 2009 | |||
Domestic deposits (ending balance)* | 103,411.3 | 104,093.3 | ||
Individuals | 63,737.3 | 62,881.6 | ||
Note:
| * | Amounts do not include negotiable certificates of deposit and JOM accounts. |
9
Mitsubishi UFJ Financial Group, Inc.
7. Statements of Trust Assets and Liabilities
MUTB Non-consolidated
Including trust assets under service-shared co-trusteeship
| (in billions of yen) | As of December 31, 2009 | As of March 31, 2009 | ||
Assets: | ||||
Loans and bills discounted | 166.8 | 199.7 | ||
Securities | 48,229.2 | 45,726.8 | ||
Beneficiary rights to the trust | 28,775.1 | 27,592.8 | ||
Securities held in custody accounts | 979.2 | 1,112.3 | ||
Monetary claims | 10,491.1 | 11,275.4 | ||
Tangible fixed assets | 9,010.2 | 9,179.8 | ||
Intangible fixed assets | 133.7 | 134.7 | ||
Other claims | 1,712.2 | 1,703.3 | ||
Call loans | 1,113.8 | 1,268.8 | ||
Due from banking account | 1,646.4 | 1,794.8 | ||
Cash and due from banks | 1,493.3 | 1,883.7 | ||
Total | 103,751.6 | 101,872.6 | ||
Liabilities: | ||||
Money trusts | 16,901.3 | 16,421.0 | ||
Pension trusts | 11,645.0 | 12,053.4 | ||
Property formation benefit trusts | 12.3 | 12.6 | ||
Loan trusts | 63.9 | 123.4 | ||
Investment trusts | 26,867.5 | 25,761.5 | ||
Money entrusted other than money trusts | 2,048.9 | 2,196.5 | ||
Securities trusts | 1,074.9 | 1,221.5 | ||
Monetary claim trusts | 10,913.0 | 11,733.6 | ||
Equipment trusts | 35.2 | 37.3 | ||
Land and fixtures trusts | 93.9 | 95.2 | ||
Composite trusts | 34,095.1 | 32,216.2 | ||
Total | 103,751.6 | 101,872.6 | ||
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. |
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Mitsubishi UFJ Financial Group, Inc.
(Reference)
Exposure to “Securitized Products and Related Investments”
Our exposure to securitized products and related investments as of December 31, 2009 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 December 2009 decreased to ¥1.92 trillion in total, a decrease of ¥0.37 trillion compared with the balance as of the end of March 2009, mainly due to sales of securitized products, which have risk of being downgraded or deteriorated, and redemptions. |
| • | Net unrealized losses were ¥149 billion, improved by ¥235 billion compared with those at the end of March 2009. |
| • | The effect on the P/L for the nine months ended December 31, 2009 was a loss of ¥14 billion, mainly due to losses on the sales of securitized products as described above. |
| (¥bn) | |||||||||||||||||
| of which securities being held to maturity2 | |||||||||||||||||
| Balance1 | Change from end of March 2009 | Net unrealized gains (losses) | Change from end of March 2009 | Balance | Net unrealized gains (losses) | ||||||||||||
| 1 | RMBS | 102 | (95 | ) | (2 | ) | 44 | 0 | 0 | ||||||||
| 2 | Sub-prime RMBS | 32 | (18 | ) | 2 | 11 | 0 | 0 | |||||||||
| 3 | CMBS | 24 | (4 | ) | (2 | ) | 0 | 0 | 0 | ||||||||
| 4 | CLOs | 1,566 | (129 | ) | (143 | ) | 144 | 1,243 | (116 | ) | |||||||
| 5 | Other securitized products (card, etc.) | 220 | (133 | ) | (2 | ) | 44 | 28 | (1 | ) | |||||||
| 6 | CDOs | 9 | (11 | ) | (1 | ) | 2 | 0 | 0 | ||||||||
| 7 | Sub-prime ABS CDOs | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||
| 8 | SIV investments | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||
| 9 | Total | 1,921 | (372 | ) | (149 | ) | 235 | 1,271 | (117 | ) | |||||||
| 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.
| 2. | Following the publication of “Tentative Solution on Reclassification of Debt Securities” (Practical Issue Task Force No.26, The Accounting Standards Board of Japan, December 5, 2008), some of our securitized products were reclassified into “securities being held to maturity” from “securities available-for-sale”at and after the end of January 2009. The balance and net unrealized gains (losses) of the securities being held to maturity in the above table are based on book value before reclassification. |
[Distribution by rating]
| • | AAA-rated products account for 56% of our investments in securitized products, a decrease of 23% compared with the end of March 2009, due to downgrades in credit ratings of certain CLOs. |
| • | AAA and AA-rated products account for 81% of our investments in securitized products. |
| (¥bn) | |||||||||||||||||||||||
| AAA | AA | A | BBB | BB or lower | Unrated | Total | |||||||||||||||||
| 10 | RMBS | 37 | 11 | 16 | 15 | 22 | 0 | 102 | |||||||||||||||
| 11 | Sub-prime RMBS | 19 | 1 | 2 | 5 | 6 | 0 | 32 | |||||||||||||||
| 12 | CMBS | 12 | 7 | 3 | 1 | 1 | 0 | 24 | |||||||||||||||
| 13 | CLOs | 880 | 434 | 77 | 84 | 91 | 0 | 1,566 | |||||||||||||||
| 14 | Other securitized products (card, etc.) | 149 | 34 | 11 | 23 | 4 | 0 | 220 | |||||||||||||||
| 15 | CDOs | 5 | 3 | 1 | 0 | 0 | 0 | 9 | |||||||||||||||
| 16 | Sub-prime ABS CDOs | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||
| 17 | SIV investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||
| 18 | Total | 1,083 | 489 | 109 | 123 | 118 | 0 | 1,921 | |||||||||||||||
| 19 | Percentage of total | 56 | % | 25 | % | 6 | % | 6 | % | 6 | % | 0 | % | 100 | % | ||||||||
| 20 | Percentage of total (End of March 2009) | 79 | % | 7 | % | 5 | % | 6 | % | 4 | % | 0 | % | 100 | % | ||||||||
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Mitsubishi UFJ Financial Group, Inc.
[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 December 2009. |
| (¥bn) | |||||||||||||||
| Americas | Europe | Asia | Japan | Total | Change from end of March 2009 | ||||||||||
| 1 | LBO Loan3(Balance on a commitment basis) | 57 | 135 | 39 | 310 | 541 | (16 | ) | |||||||
| 2 | Balance on a booking basis | 37 | 120 | 36 | 281 | 473 | (2 | ) | |||||||
3. Includes balance after refinancing. (Figures are rounded off.)
[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 December 2009 was ¥3.72 trillion (¥0.93 trillion overseas). |
| • | The purchased assets are mainly receivables and they do not include residential mortgages. |
[Monoline insurer related]
| • | There is no credit outstanding and credit derivative transactions with monoline insurers. |
<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 receivables
| ||
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