Mitsubishi UFJ Financial : Managing Director, Head of Documentation & Corporate Secretary Department, Corporate Administration Division - Form 6-K

Managing Director, Head of Documentation & Corporate Secretary Department, Corporate Administration Division

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Consolidated Summary Report

for the three months ended June 30, 2023

August 1, 2023

Company name:		Mitsubishi UFJ Financial Group, Inc.
Stock exchange listings:		Tokyo, Nagoya, New York
Code number:		8306
URL		https://www.mufg.jp/english/
Representative:		Hironori Kamezawa, President & Group CEO
For inquiry:		Masahisa Takahashi, Managing Director, Head of Financial Accounting and Reporting, Financial Accounting Office, Financial Planning Division
	TEL [phone]
Quarterly securities report issuing date:		August 14, 2023
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, 2023

(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, 2023			2,774,099				28.2				725,585				175.9				558,389				391.2
June 30, 2022			2,163,890				43.9				262,961				(42.9	)			113,685				(70.3	)

(*)	Comprehensive income

June 30, 2023: 1,066,496 million yen, - % ; June 30, 2022: (80,407) million yen, - %

		Basic earnings per share			Diluted earnings per share
		yen			yen
For the three months ended
June 30, 2023			46.44				46.29
June 30, 2022			9.03				8.94

(2)	Financial Conditions

		Total Assets			Total Net Assets			Equity-to-asset ratio (*)
		million yen			million yen			%
As of
June 30, 2023			387,452,252				19,178,288				4.7
March 31, 2023			386,799,477				18,272,857				4.5

(Reference) Shareholders' equity as of June 30, 2023: 18,074,377 million yen; March 31, 2023: 17,231,291 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, 2023			-				16.00				-				16.00				32.00
ending March 31, 2024			-
ending March 31, 2024 (Forecast)				20.50				-				20.50				41.00

(*)	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, 2024 (Consolidated)

MUFG has the target of 1,300.0 billion yen of profits attributable to owners of parent for the fiscal year ending March 31, 2024. (There is no change to our earnings target released on May 15, 2023.)

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

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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: No

(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, 2023			12,687,710,920 shares
	March 31, 2023			12,687,710,920 shares
(B) Treasury stocks:		June 30, 2023			663,514,884 shares
	March 31, 2023			664,065,483 shares
(C) Average outstanding stocks:		Three months ended June 30, 2023			12,023,926,078 shares
	Three months ended June 30, 2022			12,586,897,926 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.

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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) Additional Information			6

Supplemental Information:

"Selected Financial Information under Japanese GAAP For the Three Months Ended June 30, 2023"

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Mitsubishi UFJ Financial Group, Inc.

1. Consolidated Financial Statements and Notes

(1) Consolidated Balance Sheets

(in millions of yen)		As of March 31, 2023			As of June 30, 2023
Assets:
Cash and due from banks			113,630,172				108,256,996
Call loans and bills bought			618,223				789,288
Receivables under resale agreements			14,000,846				14,034,866
Receivables under securities borrowing transactions			4,549,792				4,199,976
Monetary claims bought			7,325,185				7,461,879
Trading assets			18,013,184				21,945,875
Money held in trust			1,287,020				1,432,670
Securities			86,746,900				82,089,566
Loans and bills discounted			109,146,272				112,152,610
Foreign exchanges			2,300,198				2,217,400
Other assets			15,195,896				18,534,754
Tangible fixed assets			1,220,172				1,210,063
Intangible fixed assets			1,358,124				1,425,622
Net defined benefit assets			1,325,434				1,362,599
Deferred tax assets			322,021				297,697
Customers' liabilities for acceptances and guarantees			11,005,758				11,322,919
Allowance for credit losses			(1,245,727	)			(1,282,536	)
Total assets			386,799,477				387,452,252
Liabilities:
Deposits			213,609,501				216,587,862
Negotiable certificates of deposit			13,632,559				14,598,689
Call money and bills sold			3,449,234				3,315,529
Payables under repurchase agreements			39,982,955				31,447,568
Payables under securities lending transactions			1,171,947				1,188,229
Commercial papers			2,220,723				2,668,458
Trading liabilities			14,716,820				15,942,478
Borrowed money			24,856,340				24,306,313
Foreign exchanges			2,570,412				2,436,410
Short-term bonds payable			1,047,499				1,395,997
Bonds payable			15,708,720				16,965,254
Due to trust accounts			11,689,414				10,712,533
Other liabilities			12,132,972				14,771,490
Reserve for bonuses			196,850				85,519
Reserve for bonuses to directors			3,639				1,299
Reserve for stocks payment			9,304				9,986
Net defined benefit liabilities			86,445				91,708
Reserve for retirement benefits to directors			830				701
Reserve for loyalty award credits			17,962				18,732
Reserve for contingent losses			164,891				145,417
Reserves under special laws			4,659				4,835
Deferred tax liabilities			157,651				167,607
Deferred tax liabilities for land revaluation			89,525				88,416
Acceptances and guarantees			11,005,758				11,322,919
Total liabilities			368,526,620				368,273,963

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Mitsubishi UFJ Financial Group, Inc.

(in millions of yen)		As of March 31, 2023			As of June 30, 2023
Net assets:
Capital stock			2,141,513				2,141,513
Capital surplus			349,661				349,661
Retained earnings			12,739,228				13,105,543
Treasury stock			(481,091	)			(480,740	)
Total shareholders' equity			14,749,310				15,115,976
Net unrealized gains (losses) on available-for-sale securities			800,955				854,574
Net deferred gains (losses) on hedging instruments			(387,079	)			(431,463	)
Land revaluation excess			135,526				134,741
Foreign currency translation adjustments			1,792,840				2,287,024
Remeasurements of defined benefit plans			140,485				132,295
Debt value adjustments of foreign subsidiaries and affiliates			(747	)			(18,773	)
Total accumulated other comprehensive income			2,481,980				2,958,400
Non-controlling interests			1,041,565				1,103,911
Total net assets			18,272,857				19,178,288
Total liabilities and net assets			386,799,477				387,452,252

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(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, 2022			For the three months ended June 30, 2023
Ordinary income			2,163,890				2,774,099
Interest income			1,205,351				1,671,075
Interest on loans and bills discounted			492,571				901,940
Interest and dividends on securities			593,771				314,009
Trust fees			35,524				33,215
Fees and commissions			412,122				457,534
Trading income			29,574				109,429
Other operating income			228,979				205,728
Other ordinary income			252,339				297,114
Ordinary expenses			1,900,929				2,048,513
Interest expenses			218,827				1,086,946
Interest on deposits			84,304				417,834
Fees and commissions			78,495				89,326
Trading expenses			1,129				326
Other operating expenses			705,372				59,144
General and administrative expenses			700,110				705,048
Other ordinary expenses			196,992				107,720
Ordinary profits			262,961				725,585
Extraordinary gains			5,222				6,997
Gains on disposition of fixed assets			5,222				6,997
Extraordinary losses			27,140				29,521
Losses on disposition of fixed assets			2,672				3,690
Losses on impairment of fixed assets			732				3,596
Provision for reserve for contingent liabilities from financial instruments transactions			24				176
Losses on change in equity			23,711				22,058
Profits before income taxes			241,043				703,061
Income taxes-current			102,529				104,058
Income taxes-deferred			4,589				23,442
Total taxes			107,119				127,500
Profits			133,924				575,560
Profits attributable to non-controlling interests			20,238				17,171
Profits attributable to owners of parent			113,685				558,389

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Consolidated Statements of Comprehensive Income

(in millions of yen)		For the three months ended June 30, 2022			For the three months ended June 30, 2023
Profits			133,924				575,560
Other comprehensive income
Net unrealized gains (losses) on available-for-sale securities			(730,211	)			45,712
Net deferred gains (losses) on hedging instruments			(155,595	)			(45,231	)
Foreign currency translation adjustments			558,197				233,712
Remeasurements of defined benefit plans			(9,635	)			(8,359	)
Share of other comprehensive income of associates accounted for using equity method			122,913				265,101
Total other comprehensive income			(214,331	)			490,935
Comprehensive income			(80,407	)			1,066,496
(Comprehensive income attributable to)
Comprehensive income attributable to owners of parent			(125,568	)			1,035,593
Comprehensive income attributable to non-controlling interests			45,160				30,902

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(3) Notes on Going-Concern Assumption

None.

(4) Notes for Material Changes in Shareholders' Equity

None.

(5) Additional Information

(Estimated impact of the COVID-19 pandemic and the Russia-Ukraine situation relating to allowance 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 uncertain business environment caused by such factors as the prolonged COVID-19 pandemic and Russia-Ukraine situation 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, MUFG Bank, Ltd., 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. The subsidiary makes such adjustments based on future loss projections and other factors to loss rates calculated based on historical loss experience, when and to the extent such adjustments are deemed appropriate, by taking into account the rate of increase in the credit loss rate or the default probability in a more recent period, additional expected losses and other factors, especially in light of the COVID-19 pandemic and the Russia-Ukraine situation. The amount of impact of these adjustments was ¥64,269 million as of June 30, 2023 (¥69,569 million as of March 31, 2023).

In addition, certain overseas subsidiaries which apply Generally Accepted Accounting Principles in the United States ("U.S. GAAP") have adopted Accounting Standards Codification Topic 326, "Financial Instruments-Credit losses," 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 determination of macroeconomic variables used in multiple 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, multiple 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 with respect to which objective data are not readily available.

The outlook relating to the COVID-19 pandemic and the Russia-Ukraine situation, which are expected to further impact our counterparties' operating environment and the economic environment, remains subject to significant uncertainty. Accordingly, we make certain assumptions, including that, COVID-19 restrictions on economic activity will be eased globally and normalization of economic activity will further progress, and that the uncertainty in the business environment caused by the Russia-Ukraine situation will remain. The recorded allowance for credit losses represents our best estimation made in a manner designed to ensure objectivity and rationality.

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For the three-month period ended June 30, 2023, 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 outlook relating to the COVID-19 pandemic and the Russia-Ukraine situation 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, 2023 and subsequent reporting periods due to these and other factors and circumstances affecting the financial performance of counterparties or the economic environment.

(Provisional closing of accounts of a significant equity-method affiliate)

Morgan Stanley, a significant equity-method affiliate of MUFG, closes its financial accounts based on a fiscal year-end of December 31 and, previously, the equity method of accounting was applied to Morgan Stanley's consolidated financial statements as of the end of Morgan Stanley's quarterly reporting period. However, from the perspective of providing financial information in a more timely manner, MUFG has decided to make modifications so that the equity method of accounting will be applied to Morgan Stanley based on a provisional closing of Morgan Stanley's accounts as of the end of MUFG's quarterly reporting period, effective from the beginning of the three months ended June 30, 2023.

Accordingly, for MUFG's quarterly reporting period ended June 30, 2023, the equity method of accounting is applied to Morgan Stanley's consolidated financial statements based on a provisional closing of accounts for the six-month period from January 1, 2023 to June 30, 2023, and MUFG's consolidated financial statements for the quarterly reporting period ended June 30, 2023 reflect the impact of such provisional closing of accounts of Morgan Stanley.

For the period from January 1, 2023 to March 31, 2023, equity in earnings of the equity method investees related to Morgan Stanley is ¥101,560 million, losses on change in equity related to Morgan Stanley is ¥22,058 million, and share of other comprehensive income of associates accounted for using equity method related to Morgan Stanley included in other comprehensive income is ¥271,194 million.

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Selected Financial Information

under Japanese GAAP

For the Three Months Ended June 30, 2023

Mitsubishi UFJ Financial Group, Inc.

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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. Loans to Be Disclosed under the Banking Act and the Financial Reconstruction Act (the "FRA")		[MUFG Consolidated] [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][TBNon-consolidated]			6
4. ROE		[MUFG Consolidated]			9
5. Average Interest Rate Spread		[BK and TB Combined] [BK Non-consolidated][TBNon-consolidated]			10
6. Loans and Deposits		[BK and TB Combined] [BK Non-consolidated][TBNon-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.

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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, 2023 (A)			June 30, 2022 (B)
Gross profits			1,241,301				1,124,813				116,487
Gross profits before credit costs for trust accounts			1,241,301				1,124,813				116,487
Net interest income			584,190				986,884				(402,694	)
Trust fees			33,215				35,524				(2,309	)
Credit costs for trust accounts (1)			-				-				-
Net fees and commissions			368,208				333,626				34,581
Net trading profits			109,103				35,510				73,592
Net other operating profits			146,584				(266,731	)			413,315
Net gains (losses) on debt securities			49,804				(406,103	)			455,907
General and administrative expenses			684,692				699,628				(14,936	)
Amortization of goodwill			4,324				4,873				(549	)
Net operating profits before credit costs for trust accounts, provision for general allowance for credit losses and amortization of goodwill			560,933				430,059				130,874
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses			556,609				425,185				131,423
Provision for general allowance for credit losses (2)			392				11,235				(10,843	)
Net operating profits*1			557,001				436,420				120,580
Net non-recurring gains (losses)			168,584				(173,458	)			342,043
Credit costs (3)			(69,169	)			(125,189	)			56,019
Losses on loan write-offs*2			(30,435	)			(82,599	)			52,163
Provision for specific allowance for credit losses			(39,086	)			(44,787	)			5,701
Other credit costs			352				2,197				(1,845	)
Reversal of allowance for credit losses (4)			-				-				-
Reversal of reserve for contingent losses included in credit costs (5)			1,531				19,016				(17,484	)
Gains on loans written-off (6)			25,602				20,962				4,640
Net gains (losses) on equity securities			43,765				19,020				24,745
Gains on sales of equity securities			46,786				73,709				(26,923	)
Losses on sales of equity securities			(1,595	)			(8,215	)			6,620
Losses on write-down of equity securities			(1,424	)			(46,473	)			45,048
Equity in earnings of equity method investees			199,921				123,039				76,882
Other non-recurring gains (losses)*2			(33,067	)			(230,307	)			197,239
Ordinary profits			725,585				262,961				462,624
Net extraordinary gains (losses)			(22,524	)			(21,918	)			(606	)
Net gains (losses) on disposition of fixed assets			3,307				2,550				756
Losses on impairment of fixed assets			(3,596	)			(732	)			(2,863	)
Losses on change in equity			(22,058	)			(23,711	)			1,653
Profits before income taxes			703,061				241,043				462,018
Income taxes-current			104,058				102,529				1,528
Income taxes-deferred			23,442				4,589				18,852
Total taxes			127,500				107,119				20,381
Profits			575,560				133,924				441,636
Profits attributable to non-controlling interests			17,171				20,238				(3,066	)
Profits attributable to owners of parent			558,389				113,685				444,703
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. In connection with the planned sale of the shares in MUFG Union Bank, N.A., an aggregate of ¥271,288 million of losses were recognized for the three months ended June 30, 2022, primarily in accordance with Accounting Standards Codification ("ASC") Topic 326, "Financial Instruments-Credit losses," and ASC Topic 310, "Receivables." These losses consist mainly of ¥217,761 million of valuation losses related to securities held for sale, which are included in Other non-recurring gains (losses), and ¥44,472 million of valuation losses related to loans held for sale, which are included in Losses on loan write-offs.
(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)			(41,643	)			(73,975	)			32,332

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BK and TB Combined

		(in millions of yen)
		For the three months ended			Increase (Decrease) (A) - (B)
		June 30, 2023 (A)			June 30, 2022 (B)
Gross profits			838,786				615,704				223,082
Gross profits before credit costs for trust accounts			838,786				615,704				223,082
Net interest income			478,939				767,859				(288,919	)
Trust fees			28,805				28,247				558
Credit costs for trust accounts (1)			-				-				-
Net fees and commissions			170,318				122,347				47,970
Net trading profits			45,122				(2,353	)			47,475
Net other operating profits			115,600				(300,396	)			415,996
Net gains (losses) on debt securities			50,014				(406,512	)			456,527
General and administrative expenses			374,056				330,337				43,719
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses			464,730				285,366				179,363
Provision for general allowance for credit losses (2)			(61	)			-				(61	)
Net operating profits			464,668				285,366				179,301
Net non-recurring gains (losses)			24,983				52,443				(27,459	)
Credit costs (3)			(4,294	)			(19,235	)			14,940
Reversal of allowance for credit losses (4)			9,345				19,546				(10,200	)
Reversal of reserve for contingent losses included in credit costs (5)			2,248				18,624				(16,376	)
Gains on loans written-off (6)			6,954				2,310				4,643
Net gains (losses) on equity securities			41,711				17,192				24,518
Gains on sales of equity securities			45,144				72,650				(27,505	)
Losses on sales of equity securities			(1,740	)			(8,385	)			6,645
Losses on write-down of equity securities			(1,693	)			(47,072	)			45,379
Other non-recurring gains (losses)			(30,981	)			14,004				(44,986	)
Ordinary profits			489,651				337,810				151,841
Net extraordinary gains (losses)			6,438				1,682				4,756
Income before income taxes			496,090				339,493				156,597
Income taxes-current			83,540				72,894				10,645
Income taxes-deferred			(9,078	)			17,531				(26,610	)
Total taxes			74,461				90,426				(15,964	)
Net income			421,628				249,066				172,561
(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)			14,192				21,246				(7,054	)
Credit costs for trust accounts			-				-				-
Provision for general allowance for credit losses			15,977				28,254				(12,276	)
Provision for special allowance for credit losses			(6,967	)			(13,511	)			6,543
Allowance for credit to specific foreign borrowers			273				4,802				(4,529	)
Losses on loans write-offs			(4,373	)			(15,799	)			11,426
Provision for contingent losses included in credit costs			2,248				18,607				(16,358	)
Gains on loans written-off			6,954				2,310				4,643
Losses on sales of other loans, etc.			78				(3,417	)			3,496
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities			414,715				691,879				(277,164	)
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			359,961				247,659				112,302

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BK Non-consolidated

		(in millions of yen)
		For the three months ended			Increase (Decrease) (A) - (B)
		June 30, 2023 (A)			June 30, 2022 (B)
Gross profits			757,922				485,208				272,713
Net interest income			448,113				502,371				(54,257	)
Net fees and commissions			150,103				100,590				49,512
Net trading profits			31,704				19,630				12,074
Net other operating profits			128,001				(137,383	)			265,384
Net gains (losses) on debt securities			44,412				(220,855	)			265,267
General and administrative expenses			320,523				280,150				40,372
Amortization of goodwill			941				404				536
Net operating profits before provision for general allowance for credit losses and amortization of goodwill			438,340				205,462				232,877
Net operating profits before provision for general allowance for credit losses			437,399				205,057				232,341
Provision for general allowance for credit losses (1)			-				-				-
Net operating profits			437,399				205,057				232,341
Net non-recurring gains (losses)			32,647				47,048				(14,401	)
Credit costs (2)			(4,294	)			(19,217	)			14,922
Reversal of allowance for credit losses (3)			9,345				19,413				(10,067	)
Reversal of reserve for contingent losses included in credit costs (4)			2,185				18,624				(16,439	)
Gains on loans written-off (5)			6,954				2,310				4,643
Net gains (losses) on equity securities			33,554				12,923				20,631
Gains on sales of equity securities			36,285				67,520				(31,234	)
Losses on sales of equity securities			(1,694	)			(7,882	)			6,188
Losses on write-down of equity securities			(1,036	)			(46,714	)			45,677
Other non-recurring gains (losses)			(15,098	)			12,993				(28,091	)
Ordinary profits			470,046				252,105				217,940
Net extraordinary gains (losses)			6,478				1,414				5,063
Income before income taxes			476,524				253,520				223,003
Income taxes-current			82,498				53,874				28,623
Income taxes-deferred			(10,832	)			18,667				(29,499	)
Total taxes			71,666				72,542				(876	)
Net income			404,858				180,977				223,880
(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)			14,190				21,131				(6,940	)
Provision for general allowance for credit losses			16,039				28,121				(12,081	)
Provision for special allowance for credit losses			(6,967	)			(13,511	)			6,543
Allowance for credit to specific foreign borrowers			273				4,802				(4,529	)
Losses on loans write-off			(4,373	)			(15,799	)			11,426
Provision for contingent losses included in credit costs			2,185				18,624				(16,439	)
Gains on loans written-off			6,954				2,310				4,643
Losses on sales of other loans, etc.			78				(3,417	)			3,496
Net operating profits before provision for general allowance for credit losses, excluding net gains (losses) on debt securities			392,986				425,912				(32,925	)
Net operating profits before provision for general allowance for credit losses, excluding net gains (losses) on debt securities and investment trusts cancellation			359,618				187,050				172,567

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TB Non-consolidated

		(in millions of yen)
		For the three months ended			Increase (Decrease) (A) - (B)
		June 30, 2023 (A)			June 30, 2022 (B)
Gross profits			80,864				130,495				(49,631	)
Gross profits before credit costs for trust accounts			80,864				130,495				(49,631	)
Trust fees			28,805				28,247				558
Credit costs for trust accounts (1)			-				-				-
Net interest income			30,825				265,488				(234,662	)
Net fees and commissions			20,215				21,757				(1,541	)
Net trading profits			13,417				(21,983	)			35,401
Net other operating profits			(12,400	)			(163,013	)			150,612
Net gains (losses) on debt securities			5,602				(185,657	)			191,260
General and administrative expenses			53,533				50,186				3,346
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses			27,331				80,309				(52,978	)
Provision for general allowance for credit losses (2)			(61	)			-				(61	)
Net operating profits			27,269				80,309				(53,040	)
Net non-recurring gains (losses)			(7,663	)			5,395				(13,058	)
Credit costs (3)			-				(17	)			17
Reversal of allowance for credit losses (4)			-				133				(133	)
Reversal of reserve for contingent losses included in credit costs (5)			63				-				63
Gains on loans written-off (6)			0				0				(0	)
Net gains (losses) on equity securities			8,156				4,268				3,887
Gains on sales of equity securities			8,858				5,129				3,729
Losses on sales of equity securities			(45	)			(502	)			456
Losses on write-down of equity securities			(656	)			(358	)			(298	)
Other non-recurring gains (losses)			(15,883	)			1,010				(16,894	)
Ordinary profits			19,605				85,704				(66,099	)
Net extraordinary gains (losses)			(39	)			267				(307	)
Income before income taxes			19,565				85,972				(66,406	)
Income taxes-current			1,042				19,019				(17,977	)
Income taxes-deferred			1,753				(1,136	)			2,889
Total taxes			2,795				17,883				(15,088	)
Net income			16,770				68,088				(51,318	)
(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)			1				115				(114	)
Credit costs for trust accounts			-				-				-
Provision for general allowance for credit losses			(61	)			133				(195	)
Provision for special allowance for credit losses			-				-				-
Allowance for credit to specific foreign borrowers			-				-				-
Losses on loans write-offs			-				-				-
Provision for contingent losses included in credit costs			63				(17	)			80
Gains on loans written-off			0				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			21,728				265,966				(244,238	)
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			343				60,608				(60,265	)

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2. Loans to Be Disclosed under the Banking Act and the Financial Reconstruction Act (the "FRA")

MUFG Consolidated

(after write-offs)

		(in millions of yen)
		As of June 30, 2023			As of March 31, 2023
Bankrupt or De facto Bankrupt			206,430				198,312
Doubtful			789,227				746,207
Special Attention			582,881				618,892
Accruing loans contractually past due 3 months or more			26,536				23,679
Restructured loans			556,344				595,212
Subtotal (A)			1,578,538				1,563,411
Normal(B)			124,995,832				121,766,210
Total loans (C=A+B)			126,574,371				123,329,622
Non-performing loans ratio (A)/(C)			1.24	%			1.26	%

BK and TB Combined including Trust Account

(after write-offs)

		(in millions of yen)
		As of June 30, 2023			As of March 31, 2023
Bankrupt or De facto Bankrupt			67,932				74,448
Doubtful			572,635				546,567
Special Attention			426,830				464,199
Accruing loans contractually past due 3 months or more			18,855				17,167
Restructured loans			407,974				447,032
Subtotal (A)			1,067,397				1,085,215
Normal(B)			112,153,526				109,665,679
Total loans (C=A+B)			113,220,924				110,750,895
Non-performing loans ratio (A)/(C)			0.94	%			0.97	%

BK Non-consolidated

(after write-offs)

		(in millions of yen)
		As of June 30, 2023			As of March 31, 2023
Bankrupt or De facto Bankrupt			67,797				74,313
Doubtful			570,715				544,648
Special Attention			426,830				464,199
Accruing loans contractually past due 3 months or more			18,855				17,167
Restructured loans			407,974				447,032
Subtotal (A)			1,065,343				1,083,162
Normal(B)			109,479,505				107,103,161
Total loans (C=A+B)			110,544,849				108,186,323
Non-performing loans ratio (A)/(C)			0.96	%			1.00	%

TB Non-consolidated

(after write-offs)

		(in millions of yen)
		As of June 30, 2023			As of March 31, 2023
Bankrupt or De facto Bankrupt			134				134
Doubtful			1,919				1,919
Special Attention			-				-
Accruing loans contractually past due 3 months or more			-				-
Restructured loans			-				-
Subtotal (A)			2,053				2,053
Normal(B)			2,670,376				2,558,578
Total loans (C=A+B)			2,672,430				2,560,632
Non-performing loans ratio (A)/(C)			0.07	%			0.08	%

TB Non-consolidated: Trust Account

(after write-offs)

		(in millions of yen)
		As of June 30, 2023			As of March 31, 2023
Bankrupt or De facto Bankrupt			-				-
Doubtful			-				-
Special Attention			-				-
Accruing loans contractually past due 3 months or more			-				-
Restructured loans			-				-
Subtotal (A)			-				-
Normal(B)			3,645				3,939
Total loans (C=A+B)			3,645				3,939
Non-performing loans ratio (A)/(C)			-				-

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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, 2023			As of March 31, 2023
		Amount on consolidated balance sheet			Unrealized gains (losses)			Amount on consolidated balance sheet			Unrealized gains (losses)
Debt securities being held to maturity			23,037,161				(190,854	)			21,520,080				(133,925	)
		(in millions of yen)
		As of June 30, 2023			As of March 31, 2023
	Amount on consolidated balance sheet			Unrealized gains (losses)			Amount on consolidated balance sheet			Unrealized gains (losses)
Available-for-sale securities			58,902,079				1,594,842				65,121,075				1,420,165
Domestic equity securities			4,763,650				3,225,853				4,271,923				2,720,728
Domestic bonds			26,309,224				(101,023	)			29,751,905				(120,020	)
Other			27,829,205				(1,529,987	)			31,097,247				(1,180,541	)
Foreign equity securities			466,942				(77,506	)			408,377				(65,604	)
Foreign bonds			18,647,013				(1,413,419	)			21,710,161				(1,116,208	)
Other			8,715,248				(39,061	)			8,978,707				1,271

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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, 2023			As of March 31, 2023
	Amount on balance sheet			Unrealized gains (losses)			Amount on balance sheet			Unrealized gains (losses)
Debt securities being held to maturity			20,383,283				(128,223	)			19,047,385				(78,497	)
Stocks of subsidiaries and affiliates			610,147				590,785				610,147				482,330
		(in millions of yen)
		As of June 30, 2023			As of March 31, 2023
	Amount on balance sheet			Unrealized gains (losses)			Amount on balance sheet			Unrealized gains (losses)
Available-for-sale securities			42,415,332				1,495,654				50,631,570				1,276,158
Domestic equity securities			3,991,048				2,648,246				3,566,081				2,212,225
Domestic bonds			24,519,167				(67,129	)			28,013,980				(79,159	)
Other			13,905,116				(1,085,461	)			19,051,508				(856,907	)
Foreign equity securities			424,933				(86,830	)			367,745				(73,953	)
Foreign bonds			7,876,076				(817,807	)			12,565,104				(672,998	)
Other			5,604,106				(180,823	)			6,118,658				(109,954	)

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TB Non-consolidated

The tables include securitized products in "Monetary claims bought" in addition to "Securities".

		(in millions of yen)
		As of June 30, 2023			As of March 31, 2023
	Amount on balance sheet			Unrealized gains (losses)			Amount on balance sheet			Unrealized gains (losses)
Debt securities being held to maturity			2,653,878				(62,630	)			2,472,695				(55,428	)
Stocks of subsidiaries and affiliates			13,636				(851	)			11,636				(758	)
		(in millions of yen)
		As of June 30, 2023			As of March 31, 2023
	Amount on balance sheet			Unrealized gains (losses)			Amount on balance sheet			Unrealized gains (losses)
Available-for-sale securities			12,670,374				215,252				10,871,284				208,580
Domestic equity securities			825,008				551,094				745,387				467,925
Domestic bonds			1,759,793				(34,028	)			1,705,587				(40,984	)
Other			10,085,572				(301,813	)			8,420,308				(218,360	)
Foreign equity securities			94				74				81				63
Foreign bonds			7,856,914				(446,678	)			6,367,896				(334,590	)
Other			2,228,563				144,790				2,052,330				116,165

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4. ROE

MUFG Consolidated

		(%)
		For the three months ended June 30, 2023			For the nine months ended June 30, 2022
ROE			13.15				2.93

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

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5. Average Interest Rate Spread

BK and TB Combined

		(percentage per annum)
(Domestic business segment)		For the three months ended June 30, 2023			For the three months ended June 30, 2022
Average interest rate on loans and bills discounted			0.77				0.73
Average interest rate on deposits and NCD			0.00				0.00
Interest rate spread			0.76				0.72
(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted			0.79				0.76
Interest rate spread			0.79				0.75

BK Non-consolidated

		(percentage per annum)
(Domestic business segment)		For the three months ended June 30, 2023			For the three months ended June 30, 2022
Average interest rate on loans and bills discounted			0.77				0.74
Average interest rate on deposits and NCD			0.00				0.00
Interest rate spread			0.77				0.74
(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted			0.79				0.76
Interest rate spread			0.79				0.75

TB Non-consolidated

		(percentage per annum)
(Domestic business segment)		For the three months ended June 30, 2023			For the three months ended June 30, 2022
Average interest rate on loans and bills discounted			0.55				0.37
Average interest rate on deposits and NCD			0.01				0.01
Interest rate spread			0.53				0.35
(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted			0.71				0.73
Interest rate spread			0.69				0.71

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6. Loans and Deposits

BK and TB Combined

		(in millions of yen)
		As of June 30, 2023			As of March 31, 2023
Deposits (ending balance)			205,737,892				203,348,641
Deposits (average balance)			208,931,246				200,346,332
Loans (ending balance)			101,918,917				99,399,851
Loans (average balance)			104,208,986				99,744,310
		(in millions of yen)
		As of June 30, 2023			As of March 31, 2023
Domestic deposits (ending balance)*			172,791,318				173,000,185
Individuals			92,008,580				90,854,622

Note:

*

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

BK Non-consolidated

		(in millions of yen)
		As of June 30, 2023			As of March 31, 2023
Deposits (ending balance)			194,699,842				192,272,289
Deposits (average balance)			197,740,832				189,034,788
Loans (ending balance)			99,600,262				97,127,749
Loans (average balance)			101,875,141				97,137,135
		(in millions of yen)
		As of June 30, 2023			As of March 31, 2023
Domestic deposits (ending balance)*			163,345,937				163,527,394
Individuals			85,968,970				84,718,547

Note:

*

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

TB Non-consolidated

		(in millions of yen)
		As of June 30, 2023			As of March 31, 2023
Deposits (ending balance)			11,038,050				11,076,351
Deposits (average balance)			11,190,413				11,311,544
Loans (ending balance)			2,318,654				2,272,102
Loans (average balance)			2,333,844				2,607,174
		(in millions of yen)
		As of June 30, 2023			As of March 31, 2023
Domestic deposits (ending balance)*			9,445,381				9,472,790
Individuals			6,039,610				6,136,075

Note:

*

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

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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, 2023			As of June 30, 2023
Assets:
Loans and bills discounted			1,277,875				1,181,438
Securities			70,547,100				69,663,931
Beneficiary rights to the trust			118,934,755				119,078,168
Securities held in custody accounts			2,933,178				3,484,033
Monetary claims			32,819,251				32,687,181
Tangible fixed assets			20,879,125				21,283,491
Intangible fixed assets			165,299				168,650
Other claims			3,189,442				2,930,688
Call loans			3,673,857				3,679,959
Due from banking account			10,620,708				9,726,767
Cash and due from banks			6,927,037				6,841,263
Total			271,967,632				270,725,574
Liabilities:
Money trusts			33,565,350				31,565,437
Pension trusts			12,233,123				12,127,014
Property formation benefit trusts			6,273				6,203
Investment trusts			122,338,610				122,288,884
Money entrusted other than money trusts			6,153,057				6,075,921
Securities trusts			5,361,672				5,847,952
Monetary claim trusts			28,813,961				28,667,894
Equipment trusts			166,695				176,230
Land and fixtures trusts			18,626				18,553
Composite trusts			63,310,260				63,951,481
Total			271,967,632				270,725,574

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 280,332 millions of yen as of March 31, 2023 and 291,802 millions of yen as of June 30, 2023, respectively.

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