Form 6-K MITSUBISHI UFJ FINANCIAL For: Aug 02

August 2, 2021 6:09 AM EDT

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 6-K

 

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 under

the Securities Exchange Act of 1934

For the month of August 2021

Commission File No. 000-54189

 

 

MITSUBISHI UFJ FINANCIAL GROUP, INC.

(Translation of registrant’s name into English)

 

 

7-1, Marunouchi 2-chome, Chiyoda-ku

Tokyo 100-8330, Japan

(Address of principal executive office)

 

 

Indicate by check mark whether the registrant files or

will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F      X      Form 40-F              

Indicate by check mark if the registrant is submitting the Form 6-K

in paper as permitted by Regulation S-T Rule 101(b)(1):

Indicate by check mark if the registrant is submitting the Form 6-K

in paper as permitted by Regulation S-T Rule 101(b)(7):

 

 

 


THIS REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE IN THE REGISTRATION STATEMENT ON FORM F-3 (NO. 333-242048) OF MITSUBISHI UFJ FINANCIAL GROUP, INC. AND TO BE A PART THEREOF FROM THE DATE ON WHICH THIS REPORT IS FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED WITH OR FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: August 2, 2021

 

Mitsubishi UFJ Financial Group, Inc.
By:  

/s/ Ken Aikawa

Name:   Ken Aikawa
Title:   Managing Director, Head of Documentation & Corporate Secretary Department, Corporate Administration Division


LOGO

Consolidated Summary Report

<under Japanese GAAP>

for the three months ended June 30, 2021

August 2, 2021

 

Company name:

   Mitsubishi UFJ Financial Group, Inc.

Stock exchange listings:

   Tokyo, Nagoya, New York

Code number:

   8306

URL

   https://www.mufg.jp/

Representative:

   Hironori Kamezawa, President & Group CEO

For inquiry:

  

Masahisa Takahashi, Managing Director,
Head of Financial Accounting Office, Financial Planning Division

   TEL (03) 5218-8890

Quarterly securities report issuing date:

   August 13, 2021

Dividend payment date:

   -

Trading accounts:

   Established

Supplemental information for quarterly financial statements:

   Available

Quarterly investor meeting presentation:

   None

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

1. Consolidated Financial Data for the Three Months ended June 30, 2021

 

(1)

Results of Operations

 

     (% represents the change from the same period in the previous fiscal year)  
     Ordinary Income     Ordinary Profits     Profits Attributable to
Owners of Parent
 
     million yen      %     million yen     %     million yen     %  

For the three months ended

             

June 30, 2021

     1,503,727        (11.4     460,323       65.7       383,082       108.8  

June 30, 2020

     1,697,631        (5.8     277,753       (38.4     183,492       (52.9

 

(*)

Comprehensive income

                         June 30, 2021: 770,361 million yen, 116.8 % ;                     June 30, 2020: 355,401 million yen, (30.1) %

 

     Basic earnings
per share
     Diluted earnings
per share
 
     yen      yen  

For the three months ended

     

June 30, 2021

     29.84        29.75  

June 30, 2020

     14.29        14.25  

 

(2)

Financial Conditions

 

     Total Assets      Total Net
Assets
     Equity-to-asset
ratio (*)
 
     million yen      million yen      %  

As of

        

June 30, 2021

     362,061,176        18,303,291        4.8  

March 31, 2021

     359,473,515        17,716,257        4.7  

(Reference) Shareholders’ equity as of    June 30, 2021: 17,368,190 million yen;     March 31, 2021: 16,802,572 million yen

 

(*)

“Equity-to-asset ratio” is computed under the formula shown below

                        (Total net assets - Non-controlling interests) / Total assets

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  

For the fiscal year

              

ended March 31, 2021

     —          12.50        —          12.50        25.00  

ending March 31, 2022

     —                

ending March 31, 2022 (Forecast)

        13.50        —          13.50        27.00  

 

(*)

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

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

MUFG has the target of 850.0 billion yen of profits attributable to owners of parent for the fiscal year ending March 31, 2022. (There is no change to our earnings target released on May 17, 2021.)

MUFG is engaged in financial service businesses such as banking business, trust banking business, securities business and credit card/loan businesses. Because there are various uncertainties caused by economic situation, market environments and other factors in these businesses, MUFG discloses a target of its profits attributable to owners of parent instead of a forecast of its performance.


ø Notes

 

(1)

Changes in significant subsidiaries during the period: No

 

(2)

Adoption of any particular accounting methods for quarterly consolidated financial statements: No

 

(3)

Changes in accounting policies, changes in accounting estimates and restatements

(A) Changes in accounting policies due to revision of accounting standards: Yes

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

(C) Changes in accounting estimates: No

(D) Restatements: No

 

(4)

Number of common stocks outstanding at the end of the period

 

(A) Total stocks outstanding including treasury stocks:

   June 30, 2021      13,581,995,120 shares  
   March 31, 2021      13,581,995,120 shares  

(B) Treasury stocks:

   June 30, 2021      748,069,053 shares  
   March 31, 2021      737,192,810 shares  

(C) Average outstanding stocks:

   Three months ended June 30, 2021      12,839,240,666 shares  
   Three months ended June 30, 2020      12,840,897,893 shares  

ø This “Consolidated Summary Report”(Quarterly“Tanshin”) is outside the scope of the external auditor’s quarterly review procedure.

ø Notes for using forecasted information etc.

 

1.

This financial summary report contains forward-looking statements regarding estimations, forecasts, targets and plans in relation to the results of operations, financial conditions and other overall management of the company and/or the group as a whole (the “forward-looking statements”). The forward-looking statements are made based upon, among other things, the company’s current estimations, perceptions and evaluations. In addition, in order for the company to adopt such estimations, forecasts, targets and plans regarding future events, certain assumptions have been made. Accordingly, due to various risks and uncertainties, the statements and assumptions are inherently not guarantees of future performance, may be considered differently from alternative perspectives and may result in material differences from the actual result. For the main factors that may affect the current forecasts, please see Consolidated Summary Report, Annual Securities Report, Disclosure Book, Annual Report, and other current disclosures that the company has announced.

 

2.

The financial information included in this financial summary report is prepared and presented in accordance with accounting principles generally accepted in Japan (“Japanese GAAP”). Differences exist between Japanese GAAP and the accounting principles generally accepted in the United States (“U.S. GAAP”) in certain material respects. Such differences have resulted in the past, and are expected to continue to result for this period and future periods, in amounts for certain financial statement line items under U.S. GAAP to differ significantly from the amounts under Japanese GAAP. For example, differences in consolidation basis or accounting for business combinations, including but not limited to amortization and impairment of goodwill, could result in significant differences in our reported financial results between Japanese GAAP and U.S. GAAP. Readers should consult their own professional advisors for an understanding of the differences between Japanese GAAP and U.S. GAAP and how those differences might affect our reported financial results. To date, we have published U.S. GAAP financial results only on a semiannual and annual basis, and currently do not expect to publish U.S. GAAP financial results for the period reported in this financial summary report.


Mitsubishi UFJ Financial Group, Inc.

 

(Appendix)

Contents of Appendix

 

1.     Consolidated Financial Statements and Notes

     2  

(1) Consolidated Balance Sheets

     2  

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

     4  

(3) Notes on Going-Concern Assumption

     6  

(4) Notes for Material Changes in Shareholders’Equity

     6  

(5) Changes in Accounting Policies

     6  

(6) Changes in Presentation of Financial Information

     6  

(7) Additional Information

     7  

Supplemental Information:

“Selected Financial Information under Japanese GAAP For the Three Months Ended June 30, 2021”

 

1


Mitsubishi UFJ Financial Group, Inc.

 

1. Consolidated Financial Statements and Notes

(1) Consolidated Balance Sheets

 

(in millions of yen)    As of
       March 31, 2021    
    As of
       June 30, 2021      
 

Assets:

    

Cash and due from banks

     102,980,711       108,263,514  

Call loans and bills bought

     730,506       593,519  

Receivables under resale agreements

     13,942,910       12,509,479  

Receivables under securities borrowing transactions

     3,394,376       2,773,564  

Monetary claims bought

     5,982,876       5,973,030  

Trading assets

     20,552,367       20,252,931  

Money held in trust

     1,283,179       1,271,140  

Securities

     77,122,074       79,730,962  

Loans and bills discounted

     107,183,069       104,834,607  

Foreign exchanges

     1,915,010       1,965,393  

Other assets

     12,406,158       11,546,577  

Tangible fixed assets

     1,296,402       1,286,961  

Intangible fixed assets

     1,436,098       1,463,661  

Net defined benefit assets

     1,210,577       1,242,556  

Deferred tax assets

     137,988       162,464  

Customers’ liabilities for acceptances and guarantees

     9,004,749       9,259,805  

Allowance for credit losses

     (1,105,541     (1,068,995
  

 

 

   

 

 

 

Total assets

     359,473,515       362,061,176  
  

 

 

   

 

 

 

Liabilities:

    

Deposits

     211,521,257       213,851,593  

Negotiable certificates of deposit

     8,099,119       8,907,698  

Call money and bills sold

     2,330,808       2,118,364  

Payables under repurchase agreements

     24,483,519       26,543,816  

Payables under securities lending transactions

     836,351       564,483  

Commercial papers

     1,810,350       1,508,196  

Trading liabilities

     14,002,667       13,105,750  

Borrowed money

     31,110,465       30,850,491  

Foreign exchanges

     2,105,245       2,078,187  

Short-term bonds payable

     1,043,001       978,001  

Bonds payable

     12,908,505       12,919,495  

Due to trust accounts

     11,208,570       10,735,881  

Other liabilities

     9,754,731       8,809,275  

Reserve for bonuses

     118,358       55,964  

Reserve for bonuses to directors

     1,816       896  

Reserve for stocks payment

     10,915       11,012  

Net defined benefit liabilities

     88,914       91,595  

Reserve for retirement benefits to directors

     872       719  

Reserve for loyalty award credits

     18,312       18,860  

Reserve for contingent losses

     183,855       171,358  

Reserves under special laws

     4,642       4,642  

Deferred tax liabilities

     1,008,650       1,072,068  

Deferred tax liabilities for land revaluation

     101,577       99,723  

Acceptances and guarantees

     9,004,749       9,259,805  
  

 

 

   

 

 

 

Total liabilities

           341,757,258             343,757,885  
  

 

 

   

 

 

 

 

2


Mitsubishi UFJ Financial Group, Inc.

 

(in millions of yen)    As of
       March 31, 2021    
    As of
       June 30, 2021      
 

Net assets:

    

Capital stock

     2,141,513       2,141,513  

Capital surplus

     977,287       977,287  

Retained earnings

     11,200,087       11,419,329  

Treasury stock

     (502,794     (509,730
  

 

 

   

 

 

 

Total shareholders’ equity

     13,816,094       14,028,399  
  

 

 

   

 

 

 

Net unrealized gains (losses) on available-for-sale securities

     2,583,417       2,544,261  

Net deferred gains (losses) on hedging instruments

     131,566       170,711  

Land revaluation excess

     149,183       145,488  

Foreign currency translation adjustments

     9,953       373,640  

Remeasurements of defined benefit plans

     163,189       154,838  

Debt value adjustments of foreign subsidiaries and affiliates

     (50,832     (49,148
  

 

 

   

 

 

 

Total accumulated other comprehensive income

     2,986,478       3,339,790  
  

 

 

   

 

 

 

Non-controlling interests

     913,684       935,101  
  

 

 

   

 

 

 

Total net assets

     17,716,257       18,303,291  
  

 

 

   

 

 

 

Total liabilities and net assets

           359,473,515             362,061,176  
  

 

 

   

 

 

 

 

3


Mitsubishi UFJ Financial Group, Inc.

 

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

Consolidated Statements of Income

 

(in millions of yen)    For the three months
ended

    June 30, 2020    
    For the three months
ended

    June 30, 2021    
 

Ordinary income

                  1,697,631                1,503,727  

Interest income

     764,995       632,043  

Interest on loans and bills discounted

     508,898       406,219  

Interest and dividends on securities

     113,704       135,153  

Trust fees

     36,796       35,508  

Fees and commissions

     348,711       406,998  

Trading income

     115,423       93,724  

Other operating income

     330,146       90,667  

Other ordinary income

     101,558       244,785  

Ordinary expenses

     1,419,877       1,043,403  

Interest expenses

     295,994       135,143  

Interest on deposits

     93,811       49,095  

Fees and commissions

     72,823       77,203  

Trading expenses

     —         39,386  

Other operating expenses

     166,480       50,126  

General and administrative expenses

     671,620       671,518   

Other ordinary expenses

     212,958       70,025  
  

 

 

   

 

 

 

Ordinary profits

     277,753       460,323  
  

 

 

   

 

 

 

Extraordinary gains

     8,927       65,997  

Gains on disposition of fixed assets

     8,927       9,473  

Gains on change in equity

     —         56,524  

Extraordinary losses

     22,845       29,550  

Losses on disposition of fixed assets

     1,643       2,410  

Losses on impairment of fixed assets

     4,512       7,482  

Provision for reserve for contingent liabilities from financial intruments transactions

     108       —    

Losses on change in equity

     16,580       19,657  
  

 

 

   

 

 

 

Profits before income taxes

     263,836       496,770  
  

 

 

   

 

 

 

Income taxes-current

     95,641       62,948  

Income taxes-deferred

     (32,760     30,830  
  

 

 

   

 

 

 

Total taxes

     62,881       93,779  
  

 

 

   

 

 

 

Profits

     200,954       402,991  
  

 

 

   

 

 

 

Profits attributable to non-controlling interests

     17,462       19,909  
  

 

 

   

 

 

 

Profits attributable to owners of parent

     183,492       383,082  
  

 

 

   

 

 

 

 

4


Mitsubishi UFJ Financial Group, Inc.

 

Consolidated Statements of Comprehensive Income

 

(in millions of yen)   For the three months
ended

    June 30, 2020    
    For the three months
ended

    June 30, 2021    
 

Profits

    200,954       402,991  

Other comprehensive income

   

Net unrealized gains (losses) on available-for-sale securities

    278,183       (18,698

Net deferred gains (losses) on hedging instruments

    16,602       37,094  

Foreign currency translation adjustments

    (252,646     251,347  

Remeasurements of defined benefit plans

    5,443       (8,812

Share of other comprehensive income of associates accounted for using equity method

    106,863       106,439  
 

 

 

   

 

 

 

Total other comprehensive income

    154,446       367,369  
 

 

 

   

 

 

 

Comprehensive income

                    355,401                   770,361  
 

 

 

   

 

 

 

(Comprehensive income attributable to)

   

Comprehensive income attributable to owners of parent

    364,293       740,089  

Comprehensive income attributable to non-controlling interests

    (8,891     30,271  

 

5


Mitsubishi UFJ Financial Group, Inc.

 

(3) Notes on Going-Concern Assumption

None.

(4) Notes for Material Changes in Shareholders’ Equity

None.

(5) Changes in Accounting Policies

(Accounting Standard for Revenue Recognition)

Accounting Standard Board of Japan (“ASBJ”) Statement No. 29, “Accounting Standard for Revenue Recognition ”(ASBJ, March 30, 2018) and ASBJ Guidance No. 30, “Implementation Guidance on Accounting Standard for Revenue Recognition” (ASBJ, March 30, 2018) are applied from the beginning of the three months ended June 30, 2021. Under these accounting standards, revenue is recognized in an amount expected to be received in exchange for goods or services when control of promised goods or services is transferred to a customer. A primary change resulting from the application of these accounting standards relates to revenue from annual membership fees recorded as income from the credit card business. Such revenue was previously recognized when received from customers but is currently recognized over the period in which the services are provided.

In accordance with the transitional measures set forth in the proviso in paragraph 84 of the Accounting Standard for Revenue Recognition, the cumulative effect of retroactively applying the new accounting policy to reporting periods prior to the beginning of the three months ended June 30, 2021 was recognized as adjustments to retained earnings at the beginning of the three months ended June 30, 2021, and the new accounting policy is applied from the beginning of the three months ended June 30, 2021 as a change in MUFG’s accounting policies. However, due to application of the method set forth in paragraph 86 of the Accounting Standard for Revenue Recognition, the new accounting policy was not retroactively applied to a contract for which substantially all of the revenue had been recognized in accordance with the previous accounting treatment prior to the beginning of the three months ended June 30, 2021.

As a result, at the beginning of the three months ended June 30, 2021, retained earnings decreased by ¥6,617 million. The impact on each of fees and commissions income, ordinary profits and profits before income taxes for the three months ended June 30, 2021 is not significant.

In accordance with the transitional measures set forth in paragraph 28-15 of ASBJ Statement No.12, “Accounting Standard for Quarterly Financial Reporting” (ASBJ, March 31, 2020) information on breakdowns of revenues from contracts with customers for the three months ended June 30, 2020 is not disclosed.

(6) Changes in Presentation of Financial Information

From the beginning of the three months ended June 30, 2021, expenses related to credit cards, which were previously recorded as general and administrative expenses, are recorded as fees and commissions expenses.

This reflects the change made in the presentation of expenses corresponding to income related to credit cards, which is recorded as fees and commissions income, as a result of a review of fees and commissions income that was conducted in connection with the adoption of ASBJ Statement No. 29, “Accounting Standard for Revenue Recognition” and ASBJ Guidance No. 30, “Implementation Guidance on Accounting Standard for Revenue Recognition” from the beginning of the three months ended June 30, 2021, to disclose financial information in a manner that more closely reflects the actual economic situation.

In order to reflect this change in the presentation of the financial information, the consolidated financial statements for the three months ended June 30, 2020, have been retroactively restated.

As a result, fees and commissions expenses of ¥55,757 million and general and administrative expenses of ¥688,686 million previously presented in the consolidated statement of income for the three months ended June 30, 2020 have been restated, resulting in the current presentation of fees and commissions expenses of ¥72,823 million and general and administrative expenses of ¥671,620 million.

 

6


Mitsubishi UFJ Financial Group, Inc.

 

(7) Additional Information

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

The process of calculating allowance for credit losses in our principal consolidated domestic banking subsidiaries involves various estimates such as determination of counterparty credit ratings which are based on evaluation and classification of counterparties’ debt-service capacity, assessment of the value of collateral provided by borrowers, and adjustments for future loss projections and other factors to the loss rates calculated based on historical credit loss experience.

Among these, internal credit ratings are assigned to counterparties based on qualitative factors such as the current and expected future business environment of the industry to which they belong as well as their management and funding risks in addition to quantitative financial evaluations through an analysis of their financial results. In particular, the COVID-19 pandemic has had a significant impact on the financial position and operating results of certain counterparties. Determination of internal credit ratings for these counterparties may be highly dependent on our assessment of the prospects of improvements in their operating results and their ability to continue as going concerns.

When calculating allowance for credit losses, the Bank, our principal consolidated domestic banking subsidiary, determines expected loss rates primarily by calculating a rate of loss based on a historical average of the credit loss rate or a historical average of the default probability derived from actual credit loss experience or actual bankruptcy experience and making necessary adjustments based on future projections and other factors. When making adjustments based on future loss projections and other factors to loss rates calculated based on historical loss experience, the subsidiary takes into account the rate of increase in the credit loss rate or the default probability in a more recent period, especially in light of the deterioration in the economic environment under the COVID-19 pandemic. The amount of impact of these adjustments was ¥24,570 million for the three months ended June 30, 2021(¥30,846 million for the fiscal year ended March 31, 2021).

In addition, certain overseas subsidiaries which apply Generally Accepted Accounting Principles in the United States (“U.S. GAAP”) have adopted Adoption of U.S. Accounting Standards Update (“ASU”) 2016-13, “Measurement of Credit Losses on Financial Instruments,” and provide for allowance for credit losses by estimating credit losses currently expected for the remaining term of the relevant contracts. Expected credit losses are calculated using a quantitative model that reflects economic forecast scenarios based on macroeconomic variables. The calculation process includes selection of multiple economic forecast scenarios and determination of the values of the macroeconomic variables used in such economic forecast scenarios and the weightings applied to each economic forecast scenario. Expected credit losses are adjusted for qualitative factors to compensate for expected credit losses that are not reflected in a quantitative model.

Significant assumptions used in our calculation of allowance for credit losses, including those described above, are subject to uncertainty. In particular, certain counterparties’ prospects of improvements in their operating results and expectations as to their ability to continue as going concerns, and adjustments to the rate of loss calculated based on actual experience for future projections and other factors, as well as determination of the macroeconomic variables used in, and the weightings applied to, selected economic forecast scenarios, and adjustments thereto for qualitative factors, by certain subsidiaries which apply U.S. GAAP, are based on estimation relating to the economic environment, including the outlook relating to the COVID-19 pandemic, with respect to which objective data are not readily available. The outlook relating to the COVID-19 pandemic, which is expected to further impact our counterparties’ operating environment and the economic environment, remains subject to significant uncertainty. Accordingly, we make certain assumptions, including that the pace of future economic recovery would be generally gradual, although the pace may vary from country to country, as balancing economic activity and pandemic control continues. The recorded allowance for credit losses represents our best estimation made in a manner designed to ensure objectivity and rationality.

For the three-month period ended June 30, 2021, the assumptions for making estimates relating to allowance for credit losses remained substantially unchanged because the observable changes subsequent to the end of the previous fiscal year in the factors and circumstances underlying the assumptions were not sufficiently significant to cause such change in the assumptions. However, these assumptions are highly uncertain, and significant additional provision for credit losses may be recognized for the six-month period ending September 30, 2021 and subsequent reporting periods due to developments affecting the impact of the COVID-19 pandemic on the financial performance of counterparties or on the economic environment.

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

Major overseas subsidiaries which were consolidated based on their financial statements as of and for the quarter ended March 31, 2021 adopted ASU 2016-13, “Measurement of Credit Losses on Financial Instruments,” the new guidance that introduced the concept of current expected credit loss, as of the beginning of the first quarter of the fiscal year ending December 31, 2020. As a result, these subsidiaries record provision for allowance for credit losses by taking into account certain forecasted information such as macroeconomic indicators.

Under the new guidance, it is currently estimated that the subsidiaries’ total credit costs for the quarter ended June 30, 2021 will be approximately ¥20 billion in total. The subsidiaries’ total credit costs will be reflected in MUFG’s consolidated financial statements as of and for the quarter ending September 30, 2021.

The definition of total credit costs is described in “1. Financial Results” of “Selected Financial Information under Japanese GAAP For the Three Months Ended June 30, 2021”.

 

7


 

 

 

Selected Financial Information

under Japanese GAAP

For the Three Months Ended June 30, 2021

 

 

 

 

 

 

 

Mitsubishi UFJ Financial Group, Inc.

   LOGO         


Mitsubishi UFJ Financial Group, Inc.

[Contents]               

 

1. Financial Results

  [MUFG Consolidated]*1[BK and TB Combined]*2*3*4  
  [BK Non-consolidated][TB Non-consolidated]     1  

2. Non Performing Loans Based on the Financial Reconstruction Law

 

[BK and TB Combined including Trust Account]

[BK Non-consolidated][TB Non-consolidated]

[TB Non-consolidated : Trust Account]

    5  

3. Securities

  [MUFG Consolidated]  
  [BK Non-consolidated][TB Non-consolidated]     6  

4. ROE

  [MUFG Consolidated]     9  

5. Average Interest Rate Spread

  [BK and TB Combined]  
  [BK Non-consolidated][TB Non-consolidated]     10  

6. Loans and Deposits

  [BK and TB Combined]  
  [BK Non-consolidated][TB Non-consolidated]     11  

7. Statements of Trust Assets and Liabilities

  [TB Non-consolidated]     12  

 

(*1)

“MUFG” means Mitsubishi UFJ Financial Group, Inc.

(*2)

“BK” means MUFG Bank, Ltd.

(*3)

“TB” means Mitsubishi UFJ Trust and Banking Corporation.

(*4)

“BK and TB Combined” means simple sum of “BK” and “TB” without consolidation processes.


Mitsubishi UFJ Financial Group, Inc.

 

1. Financial Results

MUFG Consolidated

 

                                            
     (in millions of yen)  
     For the three months ended     Increase
(Decrease)
(A) - (B)
 
   June 30, 2021
(A)
    June 30, 2020
(B)
 

Gross profits

     957,131       1,060,824              (103,693

Gross profits before credit costs for trust accounts

     957,131       1,060,824       (103,693

Net interest income

     496,949       469,051       27,898  

Trust fees

     35,508       36,796       (1,288

Credit costs for trust accounts (1)

     —         —         —    

Net fees and commissions

     329,795       275,887       53,907  

Net trading profits

     54,337       115,423       (61,086

Net other operating profits

     40,540       163,665       (123,125

Net gains (losses) on debt securities

     38,777       165,925       (127,148

General and administrative expenses

     673,678       661,717       11,960  

Amortization of goodwill

     4,486       3,864       621  

Net operating profits before credit costs for trust accounts, provision for general allowance for credit losses and amortization of goodwill

     287,938       402,971       (115,032

Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses

     283,452       399,106       (115,654

Provision for general allowance for credit losses (2)

     —         (53,060     53,060  

Net operating profits*1

     283,452       346,046       (62,593

Net non-recurring gains (losses)

     176,871       (68,292     245,163  

Credit costs (3)

     (34,696     (106,616     71,919  

Losses on loan write-offs

     (32,323     (40,372     8,049  

Provision for specific allowance for credit losses

     —         (60,501     60,501  

Other credit costs

     (2,373     (5,742     3,368  

Reversal of allowance for credit losses (4)

     8,339       —         8,339  

Reversal of reserve for contingent losses included in credit costs (5)

     —         —         —    

Gains on loans written-off (6)

     21,213       14,632       6,581  

Net gains (losses) on equity securities

     66,049       6,001       60,047  

Gains on sales of equity securities

     76,049       17,523       58,526  

Losses on sales of equity securities

     (6,836     (8,028     1,192  

Losses on write-down of equity securities

     (3,163     (3,493     329  

Equity in earnings of equity method investees

     119,475       56,652       62,822  

Other non-recurring gains (losses)

     (3,509     (38,963     35,453  
  

 

 

   

 

 

   

 

 

 

Ordinary profits

     460,323       277,753       182,570  
  

 

 

   

 

 

   

 

 

 

Net extraordinary gains (losses)

     36,446       (13,917     50,364  

Net gains (losses) on disposition of fixed assets

     7,062       7,284       (221

Losses on impairment of fixed assets

     (7,482     (4,512     (2,970

Net gains (losses) on change in equity

     36,867       (16,580     53,448  

Profits before income taxes

     496,770       263,836       232,934  

Income taxes-current

     62,948       95,641       (32,692

Income taxes-deferred

     30,830       (32,760     63,590  

Total taxes

     93,779       62,881       30,898  

Profits

     402,991       200,954       202,036  

Profits attributable to non-controlling interests

     19,909       17,462       2,446  
  

 

 

   

 

 

   

 

 

 

Profits attributable to owners of parent

     383,082       183,492       199,589  
  

 

 

   

 

 

   

 

 

 

Note:

      

*1. Net operating profits = Banking subsidiaries’ net operating profits + Other consolidated entities’ gross profits - Other consolidated entities’ general and administrative expenses - Other consolidated entities’ provision for general allowance for credit losses - Amortization of goodwill - Inter-company transactions

 

*2. From the beginning of the three months ended June 30, 2021, expenses related to credit cards, which were previously recorded as general and administrative expenses, are recorded as fees and commissions expenses.

 

Accordingly, the financial information for the three months ended June 30, 2020 have been retroactively restated.

  

  

 

(Reference)

 

Total credit costs (1)+(2)+(3)+(4)+(5)+(6)

     (5,143     (145,044     139,900  

 

1


Mitsubishi UFJ Financial Group, Inc.

 

BK and TB Combined

 

                                            
     (in millions of yen)  
     For the three months ended     Increase
(Decrease)
(A) -  (B)
 
   June 30, 2021
(A)
    June 30, 2020
(B)
 

Gross profits

     498,226          594,891                (96,664

Gross profits before credit costs for trust accounts

     498,226       594,891       (96,664

Net interest income

     306,538       249,486       57,051  

Trust fees

     28,893       30,048       (1,154

Credit costs for trust accounts (1)

     —         —         —    

Net fees and commissions

     112,839       102,745       10,094  

Net trading profits

     16,237       45,570       (29,332

Net other operating profits

     33,717       167,041       (133,323

Net gains (losses) on debt securities

     36,099       158,051       (121,951

General and administrative expenses

     326,406       336,480       (10,074

Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses

     171,820       258,411       (86,590

Provision for general allowance for credit losses (2)

     —         (6,298     6,298  

Net operating profits

     171,820       252,112       (80,291

Net non-recurring gains (losses)

     87,890       (55,079     142,969  

Credit costs (3)

     (6,557     (33,451     26,894  

Losses on loan write-offs

     (5,374     (7,143     1,769  

Provision for specific allowance for credit losses

     —         (23,686     23,686  

Other credit costs

     (1,182     (2,621     1,438  

Reversal of allowance for credit losses (4)

     21,806       —         21,806  

Reversal of reserve for contingent losses included in credit costs (5)

     —         85       (85

Gains on loans written-off (6)

     3,909       1,210       2,699  

Net gains (losses) on equity securities

     63,740       3,225       60,514  

Gains on sales of equity securities

     73,935       16,028       57,907  

Losses on sales of equity securities

     (6,924     (7,922     998  

Losses on write-down of equity securities

     (3,271     (4,880     1,608  

Other non-recurring gains (losses)

     4,991       (26,149     31,141  
  

 

 

   

 

 

   

 

 

 

Ordinary profits

     259,710       197,033       62,677  
  

 

 

   

 

 

   

 

 

 

Net extraordinary gains (losses)

     1,810       9,221       (7,410

Income before income taxes

     261,521       206,255       55,266  

Income taxes-current

     41,721       55,062       (13,340

Income taxes-deferred

     16,080       (7,746     23,826  

Total taxes

     57,802       47,316       10,486  
  

 

 

   

 

 

   

 

 

 

Net income

     203,719       158,938       44,780  
  

 

 

   

 

 

   

 

 

 

(Reference)

 

Total credit costs (1)+(2)+(3)+(4)+(5)+(6)

     19,158       (38,453     57,612  

Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities

     135,720       100,359       35,361  

Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities and investment trusts cancellation

     107,813       104,019       3,793  

 

2


Mitsubishi UFJ Financial Group, Inc.

 

BK Non-consolidated

 

    (in millions of yen)  
    For the three months ended     Increase
(Decrease)
(A) - (B)
 
  June 30, 2021
(A)
    June 30, 2020
(B)
 

Gross profits

    384,460       513,714              (129,254

Net interest income

    241,443       211,955       29,488  

Net fees and commissions

    89,770       83,936       5,834  

Net trading profits

    11,021       44,628       (33,606

Net other operating profits

    42,223       173,194       (130,970

Net gains (losses) on debt securities

    39,708       164,587       (124,879

General and administrative expenses

    278,185       287,061       (8,876

Amortization of goodwill

    387       386       1  

Net operating profits before provision for general allowance for credit losses and amortization of goodwill

    106,662       227,038       (120,376

Net operating profits before provision for general allowance for credit losses

    106,274       226,652       (120,377

Provision for general allowance for credit losses (1)

    —         (6,264     6,264  

Net operating profits

    106,274       220,387       (114,113

Net non-recurring gains (losses)

    78,581       (52,983     131,565  

Credit costs (2)

    (6,458     (33,451     26,992  

Reversal of allowance for credit losses (3)

    21,748       —         21,748  

Reversal of reserve for contingent losses included in credit costs (4)

    —         —         —    

Gains on loans written-off (5)

    3,909       1,210       2,699  

Net gains (losses) on equity securities

    54,238       1,848       52,390  

Gains on sales of equity securities

    64,018       12,792       51,225  

Losses on sales of equity securities

    (6,903     (7,844     940  

Losses on write-down of equity securities

    (2,875     (3,099     224  

Other non-recurring gains (losses)

    5,142       (22,590     27,733  
 

 

 

   

 

 

   

 

 

 

Ordinary profits

    184,855       167,403       17,452  
 

 

 

   

 

 

   

 

 

 

Net extraordinary gains (losses)

    1,957       8,844       (6,887

Income before income taxes

    186,813       176,248       10,564  

Income taxes-current

    34,764       55,746       (20,981

Income taxes-deferred

    11,154       (12,307     23,461  

Total taxes

    45,918       43,439       2,479  
 

 

 

   

 

 

   

 

 

 

Net income

    140,894       132,809       8,085  
 

 

 

   

 

 

   

 

 

 

(Reference)

     

Total credit costs (1)+(2)+(3)+(4)+(5)

    19,199       (38,505     57,705  

Provision for general allowance for credit losses

    16,161       (6,264     22,426  

Provision for special allowance for credit losses

    7,937       (23,686     31,623  

Allowance for credit to specific foreign borrowers

    (2,349     37       (2,386

Losses on loans write-off

    (5,374     (7,143     1,769  

Provision for contingent losses included in credit costs

    (626     (2,676     2,050  

Gains on loans written-off

    3,909       1,210       2,699  

Losses on sales of other loans, etc.

    (457     17       (475

Net operating profits before provision for general allowance for credit losses, excluding net gains (losses) on debt securities

    66,566       62,064       4,501  

Net operating profits before provision for general allowance for credit losses, excluding net gains (losses) on debt securities and investment trusts cancellation

    40,417       62,168       (21,750

 

3


Mitsubishi UFJ Financial Group, Inc.

 

TB Non-consolidated

 

                                               
     (in millions of yen)  
     For the three months ended     Increase
(Decrease)
(A) - (B)
 
   June 30, 2021
(A)
    June 30, 2020
(B)
 

Gross profits

     113,766            81,177                 32,589  

Gross profits before credit costs for trust accounts

     113,766       81,177       32,589  

Trust fees

     28,893       30,048       (1,154

Credit costs for trust accounts (1)

     —         —         —    

Net interest income

     65,094       37,530       27,563  

Net fees and commissions

     23,068       18,809       4,259  

Net trading profits

     5,216       941       4,274  

Net other operating profits

     (8,506     (6,152     (2,353

Net gains (losses) on debt securities

     (3,608     (6,536     2,927  

General and administrative expenses

     48,220       49,418       (1,197

Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses

     65,546       31,758       33,787  

Provision for general allowance for credit losses (2)

     —         (33     33  

Net operating profits

     65,546       31,725       33,821  

Net non-recurring gains (losses)

     9,308       (2,095     11,404  

Credit costs (3)

     (98     —         (98

Reversal of allowance for credit losses (4)

     57       —         57  

Reversal of reserve for contingent losses included in credit costs (5)

     —         85       (85

Gains on loans written-off (6)

     0       —         0  

Net gains (losses) on equity securities

     9,501       1,377       8,124  

Gains on sales of equity securities

     9,917       3,236       6,681  

Losses on sales of equity securities

     (20     (78     57  

Losses on write-down of equity securities

     (395     (1,780     1,384  

Other non-recurring gains (losses)

     (151     (3,558     3,407  
  

 

 

   

 

 

   

 

 

 

Ordinary profits

     74,854       29,629       45,225  
  

 

 

   

 

 

   

 

 

 

Net extraordinary gains (losses)

     (146     376       (523

Income before income taxes

     74,708       30,006       44,702  

Income taxes-current

     6,957       (683     7,641  

Income taxes-deferred

     4,926       4,561       365  

Total taxes

     11,883       3,877       8,006  
  

 

 

   

 

 

   

 

 

 

Net income

     62,824       26,128       36,695  
  

 

 

   

 

 

   

 

 

 

(Reference)

 

Total credit costs (1)+(2)+(3)+(4)+(5)+(6)

     (41     52       (93

Credit costs for trust accounts

     —         —         —    

Provision for general allowance for credit losses

     1       (33     34  

Provision for special allowance for credit losses

     56       —         56  

Allowance for credit to specific foreign borrowers

     —         —         —    

Losses on loans write-offs

     —         —         —    

Provision for contingent losses included in credit costs

     (98     85       (184

Gains on loans written-off

     0       —         0  

Losses on sales of other loans, etc.

     —         —         —    

Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities

     69,154       38,295       30,859  

Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities and investment trusts cancellation

     67,395       41,851       25,543  

 

4


Mitsubishi UFJ Financial Group, Inc.

 

2. Non Performing Loans Based on the Financial Reconstruction Law

BK and TB Combined including Trust Account

 

     (in millions of yen)  
     As of
June 30, 2021
    As of
March 31, 2021
 

Bankrupt or De facto Bankrupt

     129,039       147,818  

Doubtful

     398,458       416,668  

Special Attention

     280,986       293,879  

Non Performing Loans

     808,484       858,366  

Total loans

       97,326,736       100,392,617  

Non Performing Loans / Total loans

     0.83     0.85

BK Non-consolidated

 

     (in millions of yen)  
     As of
June 30, 2021
    As of
March 31, 2021
 

Bankrupt or De facto Bankrupt

     128,989       147,768  

Doubtful

     396,478       414,688  

Special Attention

     280,986       293,879  

Non Performing Loans

     806,453       856,336  

Total loans

       94,398,564          96,949,512  

Non Performing Loans / Total loans

     0.85     0.88

TB Non-consolidated

 

     (in millions of yen)  
     As of
June 30, 2021
    As of
March 31, 2021
 

Bankrupt or De facto Bankrupt

     50       50  

Doubtful

     1,978       1,978  

Special Attention

     —         —    

Non Performing Loans

     2,028       2,028  

Total loans

         2,922,703           3,437,052  

Non Performing Loans / Total loans

     0.06     0.05

TB Non-consolidated: Trust Account

 

     (in millions of yen)  
     As of
June 30, 2021
    As of
March 31, 2021
 

Bankrupt or De facto Bankrupt

     —         —    

Doubtful

     2       2  

Special Attention

     —         —    

Non Performing Loans

     2       2  

Total loans

                5,467                  6,051  

Non Performing Loans / Total loans

     0.04     0.03

 

5


Mitsubishi UFJ Financial Group, Inc.

 

3. Securities

MUFG Consolidated

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

 

     (in millions of yen)  
     As of June 30, 2021     As of March 31, 2021  
   Amount on
consolidated
balance sheet
     Unrealized
gains (losses)
    Amount on
consolidated
balance sheet
     Unrealized
gains (losses)
 

Debt securities being held to maturity

     4,215,021        33,103       3,903,764        35,380  
     (in millions of yen)  
     As of June 30, 2021     As of March 31, 2021  
   Amount on
consolidated
balance sheet
     Unrealized
gains (losses)
    Amount on
consolidated
balance sheet
     Unrealized
gains (losses)
 

Available-for-sale securities

     75,859,443        3,732,360       73,892,007        3,749,919  

Domestic equity securities

     5,190,054        3,345,172       5,216,386        3,350,537  

Domestic bonds

     41,413,791        134,001       40,552,270        122,506  

Other

     29,255,597        253,187        28,123,350        276,874   

Foreign equity securities

     118,089        51,297       86,025        21,102  

Foreign bonds

     23,050,958        87,503       21,236,699        103,001  

Other

     6,086,549        114,385       6,800,625        152,770  

 

6


Mitsubishi UFJ Financial Group, Inc.

 

BK Non-consolidated

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

 

     (in millions of yen)  
     As of June 30, 2021     As of March 31, 2021  
   Amount on
balance sheet
     Unrealized
gains (losses)
    Amount on
balance sheet
     Unrealized
gains (losses)
 

Debt securities being held to maturity

     1,718,706        20,946       1,785,106        14,751  

Stocks of subsidiaries and affiliates

     625,594        379,892       625,594        527,522  
     (in millions of yen)  
     As of June 30, 2021     As of March 31, 2021  
   Amount on
balance sheet
     Unrealized
gains (losses)
    Amount on
balance sheet
     Unrealized
gains (losses)
 

Available-for-sale securities

     57,510,416        2,735,542       57,463,835        2,711,253  

Domestic equity securities

     4,302,341        2,707,630       4,320,383        2,703,898  

Domestic bonds

     38,832,238        125,892       38,401,935        119,605  

Other

     14,375,836        (97,980     14,741,516        (112,250

Foreign equity securities

     91,482        43,631       61,701        14,126  

Foreign bonds

     11,270,942        (140,885     11,001,832        (179,648

Other

     3,013,411        (726     3,677,982        53,270  

 

7


Mitsubishi UFJ Financial Group, Inc.

 

TB Non-consolidated

The tables include negotiable certificates of deposit in “Cash and due from banks”, securitized products in “Monetary claims bought” in addition to “Securities”.

 

     (in millions of yen)  
     As of June 30, 2021     As of March 31, 2021  
   Amount on
balance sheet
     Unrealized
gains (losses)
    Amount on
balance sheet
     Unrealized
gains (losses)
 

Debt securities being held to maturity

     1,497,094        13,085       1,259,698        (1,968

Stocks of subsidiaries and affiliates

     66,545        1,435       67,814        2,389  
     (in millions of yen)  
     As of June 30, 2021     As of March 31, 2021  
   Amount on
balance sheet
     Unrealized
gains (losses)
    Amount on
balance sheet
     Unrealized
gains (losses)
 

Available-for-sale securities

     12,421,059           882,828       11,016,988           853,279  

Domestic equity securities

     925,115        583,131       939,291        595,246  

Domestic bonds

     2,563,573        9,733       2,136,137        2,797  

Other

     8,932,370        289,963        7,941,559        255,235   

Foreign equity securities

     59        43       56        41  

Foreign bonds

     7,191,955        184,216       6,262,308        166,399  

Other

     1,740,355        105,703       1,679,194        88,794  

 

8


Mitsubishi UFJ Financial Group, Inc.

 

4. ROE

MUFG Consolidated

 

     (%)  
     For the three months
ended
June 30, 2021
     For the three months
ended
June 30, 2020
 

ROE

                10.85                   5.39  

Note:

ROE is computed as follows:

 

Profits attributable to owners of parent × 4   

 

×100

{(Total shareholders’ equity at the beginning of the period + Foreign currency translation adjustments at the beginning of the period) + (Total shareholders’ equity at the end of the period + Foreign currency translation adjustments at the end of the period)} / 2

 

9


Mitsubishi UFJ Financial Group, Inc.

 

5. Average Interest Rate Spread

BK and TB Combined

 

     (percentage per annum)  
(Domestic business segment)    For the three months
ended
June 30, 2021
     For the three months
ended
June 30, 2020
 

Average interest rate on loans and bills discounted

     0.71        0.71  

Average interest rate on deposits and NCD

     0.00        0.00  

Interest rate spread

     0.71        0.70  

(After excluding loans to the Japanese government and governmental organizations)

  

Average interest rate on loans and bills discounted

     0.74        0.75  

Interest rate spread

     0.74        0.74  
BK Non-consolidated      
     (percentage per annum)  
(Domestic business segment)    For the three months
ended

June 30, 2021
     For the three months
ended

June 30, 2020
 

Average interest rate on loans and bills discounted

     0.73        0.73  

Average interest rate on deposits and NCD

     0.00        0.00  

Interest rate spread

     0.73        0.72  

(After excluding loans to the Japanese government and governmental organizations)

  

Average interest rate on loans and bills discounted

     0.75        0.75  

Interest rate spread

     0.74        0.75  
TB Non-consolidated      
     (percentage per annum)  
(Domestic business segment)    For the three months
ended

June 30, 2021
     For the three months
ended

June 30, 2020
 

Average interest rate on loans and bills discounted

     0.36        0.31  

Average interest rate on deposits and NCD

     0.02        0.03  

Interest rate spread

     0.34        0.28  

(After excluding loans to the Japanese government and governmental organizations)

  

Average interest rate on loans and bills discounted

     0.66        0.63  

Interest rate spread

     0.64        0.60  

 

10


Mitsubishi UFJ Financial Group, Inc.

 

6. Loans and Deposits

BK and TB Combined

 

     (in millions of yen)  
     As of
June 30, 2021
     As of
March 31, 2021
 

Deposits (ending balance)

     192,067,320        193,113,145  

Deposits (average balance)

     196,180,029        185,829,055  

Loans (ending balance)

     88,612,421        91,736,843  

Loans (average balance)

     91,079,896        95,408,988  
     (in millions of yen)  
     As of
June 30, 2021
     As of
March 31, 2021
 

Domestic deposits (ending balance)*

     165,273,706        165,816,616  

Individuals

     86,127,037        84,848,585  

Note:

  *

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

BK Non-consolidated

 

     (in millions of yen)  
     As of
June 30, 2021
     As of
March 31, 2021
 

Deposits (ending balance)

     181,241,830        182,239,930  

Deposits (average balance)

     185,197,764        174,690,226  

Loans (ending balance)

     85,821,207        88,447,036  

Loans (average balance)

     88,050,540        91,697,219  
     (in millions of yen)  
     As of
June 30, 2021
     As of
March 31, 2021
 

Domestic deposits (ending balance)*

     155,856,960        156,280,910  

Individuals

     79,681,941        78,277,523  

Note:

  *

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

TB Non-consolidated

 

     (in millions of yen)  
     As of
June 30, 2021
     As of
March 31, 2021
 

Deposits (ending balance)

       10,825,489          10,873,215  

Deposits (average balance)

     10,982,265        11,138,829  

Loans (ending balance)

     2,791,213        3,289,807  

Loans (average balance)

     3,029,355        3,711,769  
     (in millions of yen)  
     As of
June 30, 2021
     As of
March 31, 2021
 

Domestic deposits (ending balance)*

     9,416,745        9,535,706  

Individuals

     6,445,096        6,571,062  

Note:

  *

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

 

11


Mitsubishi UFJ Financial Group, Inc.

 

7. Statements of Trust Assets and Liabilities

TB Non-consolidated

Including trust assets under service-shared co-trusteeship

 

(in millions of yen)    As of
  March 31, 2021    
     As of
    June 30, 2021    
 

Assets:

     

Loans and bills discounted

     413,435        437,676  

Securities

     59,314,971        58,764,726  

Beneficiary rights to the trust

     93,565,184        96,729,701  

Securities held in custody accounts

     3,636,243        4,029,725  

Monetary claims

     32,652,514        33,562,040  

Tangible fixed assets

     17,354,800        17,700,788  

Intangible fixed assets

     135,444        135,444  

Other claims

     3,154,313        1,607,863  

Call loans

     1,244,794        950,063  

Due from banking account

     10,043,198        8,890,777  

Cash and due from banks

     5,567,619        5,115,216  
  

 

 

    

 

 

 

Total

     227,082,519        227,924,022  
  

 

 

    

 

 

 

Liabilities:

     

Money trusts

     28,470,351        25,295,092  

Pension trusts

     12,004,133        12,186,378  

Property formation benefit trusts

     6,736        6,605  

Investment trusts

     98,512,832        100,585,445  

Money entrusted other than money trusts

     5,006,270        5,235,560  

Securities trusts

     5,949,600        5,934,142  

Monetary claim trusts

     30,677,531        30,475,388  

Equipment trusts

     156,727        144,368  

Land and fixtures trusts

     18,856        18,303  

Composite trusts

     46,279,479        48,042,737  
  

 

 

    

 

 

 

Total

     227,082,519        227,924,022  
  

 

 

    

 

 

 

 

Note:    1.    The table shown above includes master trust assets under the service-shared co-trusteeship between TB and The Master Trust Bank of Japan, Ltd.
   2.    Trust assets and liabilities under a declaration of trust excluded from above table are 502,487 millions of yen as of March 31, 2021 and 509,587 millions of yen as of June 30, 2021, respectively.

 

12



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