Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]

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 November 2023

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. 333-273681) 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FROM THE DATE ON WHICH THIS REPORT IS FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED WITH OR FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION.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: November 14, 2023


Mitsubishi UFJ Financial Group, Inc.

By:		/s/ Toshinao Endo
Name:		Toshinao Endo
Title:		Managing Director, Head of Documentation & Corporate Secretary Department, Corporate Administration Division

LOGO

Consolidated Summary Report

<under Japanese GAAP>

for the six months ended September 30, 2023

November 14, 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 +81-50-3613-1179
Quarterly securities report issuing date:		November 29, 2023
Dividend payment date:		December 5, 2023
Trading accounts:		Established
Supplemental information for quarterly financial statements:		Available
Quarterly investor meeting presentation:		Scheduled (for investors and analysts)

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

1. Consolidated Financial Data for the Six Months ended September 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 six months ended
September 30, 2023		5,665,663		31.3		1,279,907		116.5			927,281		301.3
September 30, 2022		4,314,217		45.8		591,094		(40.1	)		231,091		(70.4	)

(*)	Comprehensive income

September 30, 2023: 1,551,605 million yen, 415.2%; September 30, 2022: 301,170 million yen, (75.3)%


	Basic earnings per share		Diluted earnings per share
	yen		yen
For the six months ended
September 30, 2023		77.11		76.89
September 30, 2022		18.50		18.33

(2)	Financial Conditions


	Total Assets		Total Net Assets		Equity-to-asset ratio (*)
	million yen		million yen		%
As of
September 30, 2023		398,175,428		19,616,016		4.7
March 31, 2023		386,799,477		18,272,857		4.5

(Reference) Shareholders’ equity as of September 30, 2023: 18,521,206 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		—		20.50
ending March 31, 2024 (Forecast)						—		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.

ø Notes

(1)	Changes in significant subsidiaries during the period: No

(2)	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

(D) Restatements: No

(3)	Number of common stocks outstanding at the end of the period


(A) Total stocks outstanding including treasury stocks:	September 30, 2023	12,687,710,920 shares
	March 31, 2023	12,687,710,920 shares
(B) Treasury stocks:	September 30, 2023	661,510,125 shares
	March 31, 2023	664,065,483 shares
(C) Average outstanding of total stocks:	Six months ended September 30, 2023	12,024,763,019 shares
	Six months ended September 30, 2022	12,489,571,267 shares

*This “Consolidated Summary Report” (Quarterly “Tanshin”) is outside the scope of the external auditor’s interim audit procedure.

*Notes for using forecasted information etc.

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.

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

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) Consolidated Statements of Changes in Net Assets			6
(4) Notes on Going-Concern Assumption			8
(5) Additional Information			8

Supplemental Information:

“Selected Financial Information under Japanese GAAP For the Six Months Ended September 30, 2023”

(*)	The following is the schedule of internet conference and explanation for investors and analysts. You can confirm those contents over the internet.


Internet Conference:		November 14, 2023 (Tuesday)
Explanation for investors and analysts:		November 16, 2023 (Thursday)

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 September 30, 2023
Assets:
Cash and due from banks		113,630,172			108,625,425
Call loans and bills bought		618,223			1,901,352
Receivables under resale agreements		14,000,846			16,291,735
Receivables under securities borrowing transactions		4,549,792			5,093,545
Monetary claims bought		7,325,185			7,874,899
Trading assets		18,013,184			22,373,417
Money held in trust		1,287,020			1,361,622
Securities		86,746,900			84,563,371
Loans and bills discounted		109,146,272			113,631,029
Foreign exchanges		2,300,198			1,962,513
Other assets		15,195,896			19,551,635
Tangible fixed assets		1,220,172			1,219,157
Intangible fixed assets		1,358,124			1,502,254
Net defined benefit assets		1,325,434			1,377,558
Deferred tax assets		322,021			415,584
Customers’ liabilities for acceptances and guarantees		11,005,758			11,812,733
Allowance for credit losses		(1,245,727	)		(1,382,406	)

Total assets		386,799,477			398,175,428

Liabilities:
Deposits		213,609,501			217,863,084
Negotiable certificates of deposit		13,632,559			16,357,724
Call money and bills sold		3,449,234			3,877,114
Payables under repurchase agreements		39,982,955			32,722,609
Payables under securities lending transactions		1,171,947			996,142
Commercial papers		2,220,723			3,239,381
Trading liabilities		14,716,820			18,298,378
Borrowed money		24,856,340			24,972,930
Foreign exchanges		2,570,412			2,791,515
Short-term bonds payable		1,047,499			1,382,991
Bonds payable		15,708,720			16,379,916
Due to trust accounts		11,689,414			10,877,484
Other liabilities		12,132,972			16,315,423
Reserve for bonuses		196,850			144,169
Reserve for bonuses to directors		3,639			1,752
Reserve for stocks payment		9,304			9,466
Net defined benefit liabilities		86,445			95,944
Reserve for retirement benefits to directors		830			741
Reserve for loyalty award credits		17,962			18,778
Reserve for contingent losses		164,891			140,336
Reserves under special laws		4,659			5,018
Deferred tax liabilities		157,651			168,242
Deferred tax liabilities for land revaluation		89,525			87,531
Acceptances and guarantees		11,005,758			11,812,733

Total liabilities		368,526,620			378,559,412

Mitsubishi UFJ Financial Group, Inc.


(in millions of yen)	As of March 31, 2023			As of September 30, 2023
Net assets:
Capital stock		2,141,513			2,141,513
Capital surplus		349,661			348,421
Retained earnings		12,739,228			13,475,072
Treasury stock		(481,091	)		(479,444	)

Total shareholders’ equity		14,749,310			15,485,562

Net unrealized gains (losses) on available-for-sale securities		800,955			637,286
Net deferred gains (losses) on hedging instruments		(387,079	)		(618,497	)
Land revaluation excess		135,526			134,104
Foreign currency translation adjustments		1,792,840			2,791,161
Remeasurements of defined benefit plans		140,485			125,517
Debt value adjustments of foreign subsidiaries and affiliates		(747	)		(33,928	)

Total accumulated other comprehensive income		2,481,980			3,035,644

Non-controlling interests		1,041,565			1,094,809

Total net assets		18,272,857			19,616,016

Total liabilities and net assets		386,799,477			398,175,428

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 six months ended September 30, 2022		For the six months ended September 30, 2023
Ordinary income		4,314,217		5,665,663
Interest income		2,363,604		3,532,387
Interest on loans and bills discounted		1,154,963		1,899,955
Interest and dividends on securities		874,150		684,598
Trust fees		71,411		67,414
Fees and commissions		859,244		961,227
Trading income		88,193		186,222
Other operating income		442,190		374,268
Other ordinary income		489,573		544,143
Ordinary expenses		3,723,123		4,385,755
Interest expenses		690,489		2,302,876
Interest on deposits		266,670		900,318
Fees and commissions		158,454		179,900
Trading expenses		937		—
Other operating expenses		998,359		151,498
General and administrative expenses		1,429,403		1,425,035
Other ordinary expenses		445,477		326,444

Ordinary profits		591,094		1,279,907

Extraordinary gains		7,783		9,725
Gains on disposition of fixed assets		7,783		9,725
Extraordinary losses		65,132		52,539
Losses on disposition of fixed assets		5,172		6,343
Losses on impairment of fixed assets		6,838		23,778
Provision for reserve for contingent liabilities from financial instruments transactions		8		359
Losses on change in equity		23,711		22,058
Losses on sales of shares of affiliates		29,401		—

Profits before income taxes		533,744		1,237,093

Income taxes-current		202,010		197,629
Income taxes-deferred		58,800		77,293

Total taxes		260,810		274,923

Profits		272,934		962,170

Profits attributable to non-controlling interests		41,842		34,888

Profits attributable to owners of parent		231,091		927,281

Mitsubishi UFJ Financial Group, Inc.

Consolidated Statements of Comprehensive Income


(in millions of yen)	For the six months ended September 30, 2022			For the six months ended September 30, 2023
Profits		272,934			962,170
Other comprehensive income
Net unrealized gains (losses) on available-for-sale securities		(1,179,037	)		(152,983	)
Net deferred gains (losses) on hedging instruments		(267,240	)		(232,733	)
Foreign currency translation adjustments		1,058,679			637,119
Remeasurements of defined benefit plans		(21,755	)		(15,179	)
Share of other comprehensive income of associates accounted for using equity method		437,589			353,212

Total other comprehensive income		28,236			589,435

Comprehensive income		301,170			1,551,605

(Comprehensive income attributable to)
Comprehensive income attributable to owners of parent		217,266			1,482,366
Comprehensive income attributable to non-controlling interests		83,904			69,238

Mitsubishi UFJ Financial Group, Inc.

(3) Consolidated Statements of Changes in Net Assets

For the six months ended September 30, 2022


	(in millions of yen)
	Shareholders’ equity														Accumulated other comprehensive income
	Capital stock			Capital surplus		Retained earnings			Treasury stock			Total shareholders’ equity			Net unrealized gains (losses) on available- for-sale securities			Net deferred gains (losses) on hedging instruments
Balance at the beginning of the period		2,141,513			770,277		11,998,157			(451,288	)		14,458,659			1,615,060			(81,145	)
Changes during the period
Cash dividends							(183,396	)					(183,396	)
Profits attributable to owners of parent							231,091						231,091
Repurchase of treasury stock										(238,655	)		(238,655	)
Disposal of treasury stock					0					1,887			1,887
Reversal of land revaluation excess							2,061						2,061
Changes in subsidiaries’ equity					440								440
Net changes of items other than shareholders’ equity																(1,284,738	)		(256,751	)

Total changes during the period		—			440		49,756			(236,767	)		(186,570	)		(1,284,738	)		(256,751	)

Balance at the end of the period		2,141,513			770,717		12,047,913			(688,056	)		14,272,088			330,322			(337,897	)


	Accumulated other comprehensive income
	Land revaluation excess			Foreign currency translation adjustments		Remeasurements of defined benefit plans			Debt value adjustments of foreign subsidiaries and affiliates			Total accumulated other comprehensive income			Non- controlling interests			Total net assets
Balance at the beginning of the period		140,628			734,588		193,865			(37,883	)		2,565,114			964,471			17,988,245
Changes during the period
Cash dividends																			(183,396	)
Profits attributable to owners of parent																			231,091
Repurchase of treasury stock																			(238,655	)
Disposal of treasury stock																			1,887
Reversal of land revaluation excess																			2,061
Changes in subsidiaries’ equity																			440
Net changes of items other than shareholders’ equity		(2,061	)		1,503,770		(21,212	)		45,107			(15,886	)		65,150			49,263

Total changes during the period		(2,061	)		1,503,770		(21,212	)		45,107			(15,886	)		65,150			(137,307	)

Balance at the end of the period		138,567			2,238,359		172,652			7,223			2,549,228			1,029,621			17,850,938

Mitsubishi UFJ Financial Group, Inc.

For the six months ended September 30, 2023


	(in millions of yen)
	Shareholders’ equity															Accumulated other comprehensive income
	Capital stock			Capital surplus			Retained earnings			Treasury stock			Total shareholders’ equity			Net unrealized gains (losses) on available- for-sale securities			Net deferred gains (losses) on hedging instruments
Balance at the beginning of the period		2,141,513			349,661			12,739,228			(481,091	)		14,749,310			800,955			(387,079	)
Changes during the period
Cash dividends								(192,859	)					(192,859	)
Profits attributable to owners of parent								927,281						927,281
Repurchase of treasury stock											(16	)		(16	)
Disposal of treasury stock					0						1,663			1,663
Reversal of land revaluation excess								1,422						1,422
Changes in subsidiaries’ equity					(1,239	)								(1,239	)
Net changes of items other than shareholders’ equity																	(163,669	)		(231,418	)

Total changes during the period		—			(1,239	)		735,843			1,647			736,251			(163,669	)		(231,418	)

Balance at the end of the period		2,141,513			348,421			13,475,072			(479,444	)		15,485,562			637,286			(618,497	)


	Accumulated other comprehensive income
	Land revaluation excess			Foreign currency translation adjustments			Remeasurements of defined benefit plans			Debt value adjustments of foreign subsidiaries and affiliates			Total accumulated other comprehensive income			Non- controlling interests			Total net assets
Balance at the beginning of the period		135,526			1,792,840			140,485			(747	)		2,481,980			1,041,565			18,272,857
Changes during the period
Cash dividends																				(192,859	)
Profits attributable to owners of parent																				927,281
Repurchase of treasury stock																				(16	)
Disposal of treasury stock																				1,663
Reversal of land revaluation excess																				1,422
Changes in subsidiaries’ equity																				(1,239	)
Net changes of items other than shareholders’ equity		(1,422	)		998,321			(14,967	)		(33,181	)		553,663			53,243			606,907

Total changes during the period		(1,422	)		998,321			(14,967	)		(33,181	)		553,663			53,243			1,343,158

Balance at the end of the period		134,104			2,791,161			125,517			(33,928	)		3,035,644			1,094,809			19,616,016

Mitsubishi UFJ Financial Group, Inc.

(4) Notes on Going-Concern Assumption

None.

(5) Additional Information

(Information relevant to an understanding by readers of the consolidated financial statements regarding the calculation of 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, Determination of internal credit ratings for some 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 additional expected losses that are not reflected in such loss rates calculated based on historical loss experience and other factors, especially in light of the Russia-Ukraine situation. The amount of impact of these adjustments was ¥63,094 million as of September 30, 2023 (¥69,569 million as of March 31, 2023).

Given that actual loss information after the expansion of COVID-19 has been accumulated and the impact of COVID-19 is reflected in the loss rates calculated based on historical loss experience, starting in the current semi-annual reporting period, no adjustment are made based on future projections that take into account the rate of increase in the credit loss rate or the default probability in a recent period.

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, some 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 factors with respect to which objective data are not readily available such as changes in the economic environment, commodity prices, monetary policy and geopolitical situation in each country.

Mitsubishi UFJ Financial Group, Inc.

In particular, the outlook relating to the Russia-Ukraine situation remains subject to significant uncertainty. Accordingly, we make certain assumptions, including that the current Russia-Ukraine situation will remain for some time. The recorded allowance for credit losses represents our best estimation made in a manner designed to ensure objectivity and rationality.

For the six-month period ended September 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 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 nine-month period ending December 31, 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, effective from the semi-annual reporting period ended September 30, 2023, the equity method of accounting will be applied to Morgan Stanley based on a provisional closing of accounts to be implemented as of September 30, which is the end of MUFG’s semi-annual reporting period.

Accordingly, for the semi-annual reporting period ended September 30, 2023, the equity method of accounting have been applied to Morgan Stanley’s consolidated financial statements for the nine-month period from January 1, 2023 to September 30, 2023 based on a provisional closing of accounts, and the impact of implementation of such provisional closing of accounts has been reflected in MUFG’s consolidated financial statements for the semi-annual reporting period ended September 30, 2023.

For the period from January 1, 2023 to March 31, 2023, equity in earnings of the equity method investees related to Morgan Stanley is 104,850 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 367,925 million.

Selected Financial Information

under Japanese GAAP

For the Six Months Ended September 30, 2023


Mitsubishi UFJ Financial Group, Inc.

Mitsubishi UFJ Financial Group, Inc.

[Contents]


1. Financial Results	[ MUFG Consolidated ]1[ BK and TB Combined ]234 [ BK Consolidated ][ BK Non-consolidated ] [ TB Consolidated ][ TB Non-consolidated ]	1

2. Average Interest Rate Spread	[ BK Non-consolidated ][ TB Non-consolidated ] [ BK and TB Combined ]	7

3. Notional Principal by the Remaining Life of the Interest Rate Swaps for Hedge-Accounting	[ MUFG Consolidated ][ BK Consolidated ][ TB Consolidated ]	8

4. Securities	[ MUFG Consolidated ] [ BK Non-consolidated ][ TB Non-consolidated ]	9

5. ROE	[ MUFG Consolidated ]	12

6. Risk-Adjusted Capital Ratio	[ MUFG Consolidated ][ BK Consolidated ][ TB Consolidated ] [ BK Non-consolidated ][ TB Non-consolidated ]	13

7. 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 ]	14

8. Progress in Disposition of Problem Assets	[ BK Non-consolidated ] [ TB Non-consolidated including Trust Account ]	20

9. Loans Classified by Type of Industry, Domestic Consumer Loans, Domestic Loans to Small/Medium-Sized Companies and Proprietors	[ BK and TB Combined including Trust Accounts ] [ BK Non-consolidated ][ TB Non-consolidated ] [ TB Non-consolidated : Trust Accounts ]	22

10. Overseas Loans	[ BK Consolidated excl. KS, BDI ]56	26

11. Loans and Deposits	[ BK and TB Combined ] [ BK Non-consolidated ][ TB Non-consolidated ]	27

12. Domestic Deposits	[ BK and TB Combined ] [ BK Non-consolidated ][ TB Non-consolidated ]	28

13. Status of Deferred Tax Assets	[ BK Non-consolidated ][ TB Non-consolidated ]	29

(Reference)

1. Financial Statements	[ BK Non-consolidated ][ TB Non-consolidated ]	31

(*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.

(*5)	“KS” means Bank of Ayudhya Public Company Limited.

(*6)	“BDI” means PT Bank Danamon Indonesia, Tbk.

Mitsubishi UFJ Financial Group, Inc.

1. Financial Results

MUFG Consolidated


	(in millions of yen)
	For the six months ended						Increase
	September 30, 2023 (A)			September 30, 2022 (B)			(Decrease) (A) - (B)
Gross profits		2,487,420			2,323,442			163,978
Gross profits before credit costs for trust accounts		2,487,419			2,323,442			163,977
Net interest income		1,229,687			1,674,077			(444,390	)
Trust fees		67,414			71,411			(3,996	)
Credit costs for trust accounts (1)		0			—			0
Net fees and commissions		781,327			700,789			80,537
Net trading profits		186,222			89,420			96,801
Net other operating profits		222,769			(212,257	)		435,026
Net gains (losses) on debt securities		(49,802	)		(497,177	)		447,374
General and administrative expenses		1,401,632			1,428,165			(26,533	)
Amortization of goodwill		9,542			10,223			(681	)
Net operating profits before credit costs for trust accounts, provision for general allowance for credit losses and amortization of goodwill		1,095,329			905,500			189,829
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		1,085,787			895,276			190,511
Provision for general allowance for credit losses (2)		(121,516	)		45,158			(166,674	)
Net operating profits*1		964,271			940,434			23,836
Net non-recurring gains (losses)		315,636			(349,340	)		664,976
Credit costs (3)		(109,791	)		(363,896	)		254,105
Losses on loan write-offs*2		(75,970	)		(294,116	)		218,145
Provision for specific allowance for credit losses		(33,832	)		(71,234	)		37,402
Other credit costs		10			1,453			(1,442	)
Reversal of allowance for credit losses (4)		—			—			—
Reversal of reserve for contingent losses included in credit costs (5)		—			27,960			(27,960	)
Gains on loans written-off (6)		50,080			46,945			3,134
Net gains (losses) on equity securities		130,377			76,125			54,252
Gains on sales of equity securities		143,104			147,037			(3,932	)
Losses on sales of equity securities		(8,458	)		(15,404	)		6,945
Losses on write-down of equity securities		(4,268	)		(55,507	)		51,239
Equity in earnings of equity method investees		305,305			239,246			66,059
Other non-recurring gains (losses)*2		(60,335	)		(375,720	)		315,385

Ordinary profits		1,279,907			591,094			688,813

Net extraordinary gains (losses)		(42,813	)		(57,349	)		14,535
Net gains (losses) on disposition of fixed assets		3,382			2,611			771
Losses on impairment of fixed assets		(23,778	)		(6,838	)		(16,940	)
Losses on change in equity		(22,058	)		(23,711	)		1,653
Losses on sales of shares of affiliates		—			(29,401	)		29,401
Profits before income taxes		1,237,093			533,744			703,348
Income taxes-current		197,629			202,010			(4,380	)
Income taxes-deferred		77,293			58,800			18,493
Total taxes		274,923			260,810			14,112
Profits		962,170			272,934			689,235
Profits attributable to non-controlling interests		34,888			41,842			(6,954	)

Profits attributable to owners of parent		927,281			231,091			696,189


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. (“MUB”), an aggregate of ¥631,861 million of losses were recognized for the six months ended September 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 ¥385,215 million of valuation losses related to securities held for sale, which are included in Other non-recurring gains (losses), and ¥232,571 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)		(181,227	)		(243,832	)		62,605
Number of consolidated subsidiaries		252			252			—
Number of affiliated companies accounted for under the equity method		46			54			(8	)

Mitsubishi UFJ Financial Group, Inc.

BK and TB Combined


	(in millions of yen)
	For the six months ended						Increase
	September 30, 2023 (A)			September 30, 2022 (B)			(Decrease) (A) - (B)
Gross profits		1,509,794			1,176,143			333,650
Gross profits before credit costs for trust accounts		1,509,794			1,176,143			333,650
Domestic gross profits		706,634			610,546			96,087
Net interest income		433,339			389,748			43,591
Trust fees		58,464			56,194			2,269
Credit costs for trust accounts (1)		0			—			0
Net fees and commissions		158,850			147,694			11,156
Net trading profits		(22,760	)		(16,365	)		(6,394	)
Net other operating profits		78,740			33,275			45,465
Net gains (losses) on debt securities		(16,713	)		(22,855	)		6,141
Non-domestic gross profits		803,160			565,596			237,563
Net interest income		453,182			770,284			(317,101	)
Net fees and commissions		191,481			116,969			74,512
Net trading profits		42,594			20,000			22,593
Net other operating profits		115,901			(341,656	)		457,558
Net gains (losses) on debt securities		(32,939	)		(475,452	)		442,512
General and administrative expenses		747,217			655,461			91,755
Personnel expenses		310,508			213,975			96,533
Non-personnel expenses		401,264			403,405			(2,140	)
Taxes		35,443			38,080			(2,636	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		762,577			520,681			241,895
Provision for general allowance for credit losses (2)		(103,961	)		—			(103,961	)
Net operating profits		658,616			520,681			137,934
Net non-recurring gains (losses)		137,043			240,343			(103,300	)
Credit costs (3)		26,455			(9,506	)		35,961
Reversal of allowance for credit losses (4)		—			69,742			(69,742	)
Reversal of reserve for contingent losses included in credit costs (5)		—			26,840			(26,840	)
Gains on loans written-off (6)		12,780			8,117			4,662
Net gains (losses) on equity securities		125,514			78,874			46,639
Gains on sales of equity securities		138,804			144,102			(5,297	)
Losses on sales of equity securities		(10,119	)		(15,612	)		5,493
Losses on write-down of equity securities		(3,170	)		(49,614	)		46,444
Other non-recurring gains (losses)		(27,706	)		66,274			(93,981	)

Ordinary profits		795,659			761,025			34,634

Net extraordinary gains (losses)		(3,123	)		(9,518	)		6,394
Net gains (losses) on disposition of fixed assets		2,225			359			1,866
Losses on impairment of fixed assets		(14,634	)		(4,747	)		(9,886	)
Gains on sales of shares of subsidiaries		4,863			—			4,863
Gains on extinguishment of tie-in shares		4,319			—			4,319
Losses on sales of shares of affiliates		—			(5,248	)		5,248
Income before income taxes		792,535			751,506			41,028
Income taxes-current		140,866			141,589			(723	)
Income taxes-deferred		15,176			68,893			(53,716	)
Total taxes		156,043			210,482			(54,439	)

Net income		636,492			541,024			95,468


(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		(64,724	)		95,194			(159,919	)
Credit costs for trust accounts		0			—			0
Provision for general allowance for credit losses		(103,961	)		75,608			(179,569	)
Provision for special allowance for credit losses		40,272			(10,005	)		50,277
Allowance for credit to specific foreign borrowers		1,143			4,139			(2,995	)
Losses on loans write-offs		(12,711	)		(6,180	)		(6,530	)
Provision for contingent losses included in credit costs		(2,718	)		26,814			(29,532	)
Gains on loans written-off		12,780			8,117			4,662
Losses on sales of other loans, etc.		469			(3,298	)		3,768
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities		812,230			1,018,990			(206,759	)
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		719,834			528,864			190,969

Mitsubishi UFJ Financial Group, Inc.

BK Consolidated


	(in millions of yen)
	For the six months ended						Increase
	September 30, 2023 (A)			September 30, 2022 (B)			(Decrease) (A) - (B)
Gross profits		1,802,037			1,642,276			159,761
Net interest income		1,065,638			1,276,294			(210,656	)
Trust fees		—			7,082			(7,082	)
Net fees and commissions		433,771			391,557			42,213
Net trading profits		113,984			69,305			44,678
Net other operating profits		188,644			(101,964	)		290,608
Net gains (losses) on debt securities		(31,124	)		(276,365	)		245,241
General and administrative expenses		913,370			985,397			(72,026	)
Amortization of goodwill		2,917			3,749			(832	)
Net operating profits before provision for general allowance for credit losses and amortization of goodwill		891,584			660,628			230,955
Net operating profits before provision for general allowance for credit losses		888,667			656,878			231,788
Provision for general allowance for credit losses (1)		(118,145	)		42,919			(161,064	)
Net operating profits*1		770,521			699,798			70,723
Net non-recurring gains (losses)		71,070			(541,407	)		612,477
Credit costs (2)		(54,663	)		(314,345	)		259,681
Losses on loan write-offs*2		(33,726	)		(255,988	)		222,261
Provision for specific allowance for credit losses		(20,947	)		(59,810	)		38,863
Other credit costs		10			1,453			(1,443	)
Reversal of allowance for credit losses (3)		—			—			—
Reversal of reserve for contingent losses included in credit costs (4)		—			27,960			(27,960	)
Gains on loans written-off (5)		36,848			34,276			2,572
Net gains (losses) on equity securities		104,305			57,583			46,722
Gains on sales of equity securities		116,523			126,250			(9,727	)
Losses on sales of equity securities		(9,413	)		(14,523	)		5,109
Losses on write-down of equity securities		(2,803	)		(54,143	)		51,340
Equity in earnings of equity method investees		22,320			23,118			(797	)
Other non-recurring gains (losses)*2		(37,741	)		(370,000	)		332,259

Ordinary profits		841,591			158,391			683,200

Net extraordinary gains (losses)		(20,107	)		(32,721	)		12,614
Net gains (losses) on disposition of fixed assets		2,040			1,413			627
Losses on impairment of fixed assets		(22,147	)		(4,149	)		(17,998	)
Losses on sales of shares of affiliates		—			(29,985	)		29,985
Profits before income taxes		821,484			125,669			695,815
Income taxes-current		157,114			144,784			12,329
Income taxes-deferred		47,803			42,097			5,706
Total taxes		204,917			186,881			18,036
Profits		616,567			(61,212	)		677,779
Profits attributable to non-controlling interests		13,026			(17,352	)		30,378

Profits attributable to owners of parent		603,540			(43,859	)		647,400


Note:
*1. Net operating profits = Net operating profits of BK + 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 MUB, an aggregate of ¥631,861 million of losses were recognized for the six months ended September 30, 2022, primarily in accordance with ASC Topic 326, “Financial Instruments—Credit losses,” and ASC Topic 310, “Receivables.” These losses consist mainly of ¥385,215 million of valuation losses related to securities held for sale, which are included in Other non-recurring gains (losses), and ¥232,571 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)		(135,960	)		(209,188	)		73,228

Number of consolidated subsidiaries		113			116			(3	)
Number of affiliated companies accounted for under the equity method		41			47			(6	)

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated


	(in millions of yen)
	For the six months ended						Increase
	September 30, 2023 (A)			September 30, 2022 (B)			(Decrease) (A) - (B)
Gross profits		1,341,105			962,280			378,824
Domestic gross profits		551,583			460,329			91,254
Net interest income		406,622			352,945			53,676
Net fees and commissions		116,057			105,967			10,090
Net trading profits		1,526			1,446			80
Net other operating profits		27,377			(29	)		27,407
Net gains (losses) on debt securities		(15,637	)		(17,448	)		1,810
Non-domestic gross profits		789,522			501,951			287,570
Net interest income		404,853			470,269			(65,416	)
Net fees and commissions		191,033			116,599			74,433
Net trading profits		65,037			34,830			30,206
Net other operating profits		128,597			(119,748	)		248,346
Net gains (losses) on debt securities		(15,345	)		(260,468	)		245,122
General and administrative expenses		641,831			557,828			84,003
Personnel expenses		275,638			181,549			94,088
Non-personnel expenses		335,372			343,314			(7,942	)
Amortization of goodwill		1,906			817			1,089
Taxes		30,821			32,964			(2,142	)
Net operating profits before provision for general allowance for credit losses and amortization of goodwill		701,180			405,269			295,911
Net operating profits before provision for general allowance for credit losses		699,273			404,452			294,821
Provision for general allowance for credit losses (1)		(103,849	)		—			(103,849	)
Net operating profits		595,423			404,452			190,971
Net non-recurring gains (losses)		130,114			222,256			(92,142	)
Credit costs (2)		26,582			(9,479	)		36,061
Reversal of allowance for credit losses (3)		—			69,633			(69,633	)
Reversal of reserve for contingent losses included in credit costs (4)		—			26,840			(26,840	)
Gains on loans written-off (5)		12,780			8,117			4,662
Net gains (losses) on equity securities		103,406			62,504			40,902
Gains on sales of equity securities		114,001			125,466			(11,465	)
Losses on sales of equity securities		(9,238	)		(14,466	)		5,228
Losses on write-down of equity securities		(1,355	)		(48,495	)		47,140
Other non-recurring gains (losses)		(12,655	)		64,639			(77,294	)

Ordinary profits		725,537			626,708			98,829

Net extraordinary gains (losses)		(1,776	)		(7,664	)		5,888
Net gains (losses) on disposition of fixed assets		2,079			169			1,910
Losses on impairment of fixed assets		(13,039	)		(2,585	)		(10,453	)
Gains on sales of shares of subsidiaries		4,863			—			4,863
Gains on extinguishment of tie-in shares		4,319			—			4,319
Losses on sales of shares of affiliates		—			(5,248	)		5,248
Income before income taxes		723,761			619,044			104,717
Income taxes-current		121,227			106,063			15,163
Income taxes-deferred		17,431			71,954			(54,522	)
Total taxes		138,658			178,017			(39,358	)

Net income		585,102			441,026			144,076


(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)		(64,487	)		95,112			(159,600	)
Provision for general allowance for credit losses		(103,849	)		75,499			(179,349	)
Provision for special allowance for credit losses		40,272			(10,004	)		50,277
Allowance for credit to specific foreign borrowers		1,143			4,139			(2,995	)
Losses on loans write-off		(12,710	)		(6,180	)		(6,530	)
Provision for contingent losses included in credit costs		(2,592	)		26,840			(29,433	)
Gains on loans written-off		12,780			8,117			4,662
Losses on sales of other loans, etc.		469			(3,298	)		3,768
Net operating profits before provision for general allowance for credit losses, excluding net gains (losses) on debt securities		730,256			682,368			47,887
Net operating profits before provision for general allowance for credit losses, excluding net gains (losses) on debt securities and investment trusts cancellation		689,204			429,537			259,666

Mitsubishi UFJ Financial Group, Inc.

TB Consolidated


	(in millions of yen)
	For the six months ended						Increase
	September 30, 2023 (A)			September 30, 2022 (B)			(Decrease) (A) - (B)
Gross profits		310,460			319,285			(8,825	)
Gross profits before credit costs for trust accounts		310,460			319,285			(8,825	)
Trust fees		67,604			64,552			3,051
Trust fees before credit costs for trust accounts		67,603			64,552			3,050
Money trusts fees (Jointly operated designated money trusts before credit costs for trust account)		7,902			7,446			456
Other trust fees		59,700			57,106			2,594
Credit costs for trust accounts (1)		0			—			0
Net interest income		74,052			315,996			(241,944	)
Net fees and commissions		165,428			147,877			17,551
Net trading profits		(45,285	)		(31,935	)		(13,349	)
Net other operating profits		48,660			(177,206	)		225,866
Net gains (losses) on debt securities		(18,698	)		(220,496	)		201,797
General and administrative expenses		221,961			196,103			25,857
Amortization of goodwill		6,623			6,472			150
Net operating profits before credit costs for trust accounts, provision for general allowance for credit losses and amortization of goodwill		95,122			129,654			(34,532	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		88,498			123,182			(34,683	)
Provision for general allowance for credit losses (2)		(138	)		—			(138	)
Net operating profits*		88,360			123,182			(34,821	)
Net non-recurring gains (losses)		6,182			15,066			(8,883	)
Credit costs (3)		8			(0	)		8
Losses on loan write-offs		(1	)		(0	)		(1	)
Provision for specific allowance for credit losses		10			—			10
Other credit costs		—			—			—
Reversal of allowance for credit losses (4)		—			52			(52	)
Reversal of reserve for contingent losses included in credit costs (5)		—			—			—
Gains on loans written-off (6)		2			11			(8	)
Net gains (losses) on equity securities		22,362			16,314			6,048
Gains on sales of equity securities		24,803			18,635			6,167
Losses on sales of equity securities		(880	)		(1,146	)		265
Losses on write-down of equity securities		(1,559	)		(1,174	)		(385	)
Equity in earnings of equity method investees		1,788			943			844
Other non-recurring gains (losses)		(17,979	)		(2,255	)		(15,724	)

Ordinary profits		94,543			138,248			(43,705	)

Net extraordinary gains (losses)		(194	)		(1,975	)		1,781
Net gains (losses) on disposition of fixed assets		1,436			190			1,245
Losses on impairment of fixed assets		(1,631	)		(2,166	)		535
Profits before income taxes		94,348			136,272			(41,924	)
Income taxes-current		29,339			43,940			(14,601	)
Income taxes-deferred		(1,758	)		(2,727	)		969
Total taxes		27,581			41,213			(13,632	)
Profits		66,767			95,059			(28,291	)
Profits attributable to non-controlling interests		194			238			(43	)

Profits attributable to owners of parent		66,573			94,821			(28,247	)


Note:
* Net operating profits = Net operating profits of TB + Other consolidated entities’ gross profits - Other consolidated entities’ general and administrative expenses - Other consolidated entities’ provision for general allowance for credit losses - Amortization of goodwill - Inter-company transactions

(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		(127	)		63			(190	)

Number of consolidated subsidiaries		107			105			2
Number of affiliated companies accounted for under the equity method		4			4			—

TB Consolidated (combined operating results of TB and transferred entities to Intermediate Holding Company in the United States) To comply with the financial regulations in the United States, TB transferred the interests in its subsidiaries in the United States to the Intermediate Holding Company (“IHC”) in United States which are owned by BK and MUFG.

The combined operating results of TB and transferred entities are as follows (the operating results of transferred entities are prepared for managerial accounting purpose):

Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		89,893			126,000			(36,106	)
Profits attributable to owners of parent		67,574			96,833			(29,258	)
Number of the entities transferred to IHC		4			4			—

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated


	(in millions of yen)
	For the six months ended						Increase
	September 30, 2023 (A)			September 30, 2022 (B)			(Decrease) (A) - (B)
Gross profits		168,688			213,863			(45,174	)
Gross profits before credit costs for trust accounts		168,688			213,863			(45,174	)
Domestic gross profits		155,050			150,217			4,833
Trust fees		58,464			56,194			2,269
Trust fees before credit costs for trust accounts		58,463			56,194			2,268
Money trusts fees (Jointly operated designated money trusts before credit costs for trust account)		7,902			7,446			456
Other trust fees		50,560			48,748			1,812
Credit costs for trust accounts (1)		0			—			0
Net interest income		26,716			36,802			(10,085	)
Net fees and commissions		42,793			41,727			1,066
Net trading profits		(24,286	)		(17,811	)		(6,474	)
Net other operating profits		51,363			33,305			18,057
Net gains (losses) on debt securities		(1,076	)		(5,407	)		4,330
Non-domestic gross profits		13,638			63,645			(50,007	)
Net interest income		48,329			300,014			(251,685	)
Net fees and commissions		448			369			78
Net trading profits		(22,443	)		(14,830	)		(7,612	)
Net other operating profits		(12,695	)		(221,908	)		209,212
Net gains (losses) on debt securities		(17,594	)		(214,984	)		197,389
General and administrative expenses		105,385			97,633			7,751
Personnel expenses		34,870			32,425			2,444
Non-personnel expenses		65,891			60,090			5,801
Taxes		4,622			5,116			(494	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		63,303			116,229			(52,926	)
Provision for general allowance for credit losses (2)		(111	)		—			(111	)
Net operating profits		63,192			116,229			(53,037	)
Net non-recurring gains (losses)		6,929			18,086			(11,157	)
Credit costs (3)		(127	)		(27	)		(99	)
Reversal of allowance for credit losses (4)		—			108			(108	)
Reversal of reserve for contingent losses included in credit costs (5)		—			—			—
Gains on loans written-off (6)		0			0			(0	)
Net gains (losses) on equity securities		22,107			16,370			5,737
Gains on sales of equity securities		24,803			18,635			6,167
Losses on sales of equity securities		(880	)		(1,146	)		265
Losses on write-down of equity securities		(1,815	)		(1,118	)		(696	)
Other non-recurring gains (losses)		(15,051	)		1,634			(16,686	)

Ordinary profits		70,121			134,316			(64,194	)

Net extraordinary gains (losses)		(1,347	)		(1,853	)		505
Net gains (losses) on disposition of fixed assets		145			189			(43	)
Losses on impairment of fixed assets		(1,595	)		(2,161	)		566
Income before income taxes		68,773			132,462			(63,688	)
Income taxes-current		19,639			35,526			(15,886	)
Income taxes-deferred		(2,255	)		(3,061	)		806
Total taxes		17,384			32,464			(15,080	)

Net income		51,389			99,997			(48,608	)


(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		(237	)		81			(319	)
Credit costs for trust accounts		0			—			0
Provision for general allowance for credit losses		(111	)		109			(220	)
Provision for special allowance for credit losses		0			(0	)		0
Allowance for credit to specific foreign borrowers		—			—			—
Losses on loans write-offs		(1	)		(0	)		(0	)
Provision for contingent losses included in credit costs		(125	)		(26	)		(99	)
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		81,973			336,621			(254,647	)
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		30,630			99,327			(68,697	)

Mitsubishi UFJ Financial Group, Inc.

2. Average Interest Rate Spread

BK Non-consolidated


	(percentage per annum)
(Domestic business segment)	For the six months ended September 30, 2023 (A)		Increase (Decrease) (A) - (B)			For the six months ended September 30, 2022 (B)
Total average interest rate on interest-earning assets (a)		0.59		0.08			0.51
Average interest rate on loans and bills discounted (b)		0.78		0.02			0.75
Average interest rate on securities		0.76		0.18			0.58
Total average interest rate on interest-bearing liabilities (c) <including general and administrative expenses>		0.30		(0.01	)		0.32
Average interest rate on deposits and NCD (d)		0.00		0.00			0.00
Average interest rate on other liabilities		0.16		0.05			0.10
Overall interest rate spread (a)-(c)		0.29		0.10			0.19
Interest rate spread (b)-(d)		0.78		0.02			0.75

(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted (e)		0.80		0.03			0.76
Interest rate spread (e)-(d)		0.80		0.03			0.76

TB Non-consolidated
	(percentage per annum)
(Domestic business segment)	For the six months ended September 30, 2023 (A)		Increase (Decrease) (A) - (B)			For the six months ended September 30, 2022 (B)
Total average interest rate on interest-earning assets (a)		0.71		(0.05	)		0.76
Average interest rate on loans and bills discounted (b)		0.55		0.19			0.36
Average interest rate on securities		2.63		0.08			2.54
Total average interest rate on interest-bearing liabilities (c)		0.21		0.05			0.16
Average interest rate on deposits and NCD (d)		0.01		0.00			0.01
Overall interest rate spread (a)-(c)		0.49		(0.11	)		0.60
Interest rate spread (b)-(d)		0.53		0.19			0.34

(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted (e)		0.71		(0.02	)		0.74
Interest rate spread (e)-(d)		0.69		(0.03	)		0.72

(Reference) BK and TB Combined
	(percentage per annum)
(Domestic business segment)	For the six months ended September 30, 2023 (A)		Increase (Decrease) (A) - (B)			For the six months ended September 30, 2022 (B)
Average interest rate on loans and bills discounted (a)		0.77		0.03			0.73
Average interest rate on deposits and NCD (b)		0.00		0.00			0.00
Interest rate spread (a)-(b)		0.77		0.03			0.73

(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted (c)		0.80		0.03			0.76
Interest rate spread (c)-(b)		0.79		0.03			0.76

Mitsubishi UFJ Financial Group, Inc.

3. Notional Principal by the Remaining Life of the Interest Rate Swaps for Hedge-Accounting

MUFG Consolidated

(in billions of yen)

As of September 30, 2023

within 1 year

1 year to 5 years

over 5 years

Total

Receive-fix/pay-floater

2,147.5

15,175.5

14,170.4

31,493.5

Receive-floater/pay-fix

404.1

2,513.2

6,314.0

9,231.4

Receive-floater/pay-floater

—

Receive-fix/pay-fix

—

Total

2,551.7

17,688.8

20,484.4

40,725.0

BK Consolidated

(in billions of yen)

As of September 30, 2023

within 1 year

1 year to 5 years

over 5 years

Total

Receive-fix/pay-floater

1,924.0

14,542.7

13,998.1

30,464.9

Receive-floater/pay-fix

88.8

1,050.1

4,751.2

5,890.2

Receive-floater/pay-floater

—

Receive-fix/pay-fix

—

Total

2,012.8

15,592.8

18,749.4

36,355.1

TB Consolidated

(in billions of yen)

As of September 30, 2023

within 1 year

1 year to 5 years

over 5 years

Total

Receive-fix/pay-floater

223.5

476.8

140.5

841.0

Receive-floater/pay-fix

305.3

1,385.6

1,526.6

3,217.6

Receive-floater/pay-floater

—

Receive-fix/pay-fix

—

Total

528.9

1,862.4

1,667.2

4,058.7

Mitsubishi UFJ Financial Group, Inc.

4. 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”.

Fair Value Information on Securities


	(in millions of yen)
	As of September 30, 2023									As of March 31, 2023
	Amount on consolidated balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on consolidated balance sheet		Unrealized gains (losses)			Gains		Losses
Debt securities being held to maturity		24,657,025		(498,939	)		10,214		509,154		21,520,080		(133,925	)		49,237		183,163
Domestic bonds		17,104,463		(142,111	)		9,331		151,443		15,052,012		8,012			35,612		27,599
Government bonds		14,767,776		(114,090	)		9,066		123,157		13,513,972		12,778			32,129		19,351
Municipal bonds		1,742,822		(25,432	)		69		25,501		1,144,825		(5,334	)		2,473		7,808
Short-term corporate bonds		—		—			—		—		—		—			—		—
Corporate bonds		593,864		(2,588	)		196		2,784		393,214		568			1,009		440
Other		7,552,561		(356,828	)		882		357,711		6,468,068		(141,938	)		13,625		155,563
Foreign bonds		4,785,679		(333,444	)		—		333,444		3,913,345		(92,148	)		13,606		105,754
Other		2,766,881		(23,384	)		882		24,266		2,554,723		(49,790	)		18		49,809

	(in millions of yen)
	As of September 30, 2023									As of March 31, 2023
	Amount on consolidated balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on consolidated balance sheet		Unrealized gains (losses)			Gains		Losses
Available-for-sale securities		59,767,197		1,369,558			3,653,694		2,284,136		65,121,075		1,420,165			3,056,638		1,636,472
Domestic equity securities		4,766,911		3,266,031			3,284,179		18,147		4,271,923		2,720,728			2,745,235		24,506
Domestic bonds		26,108,297		(212,021	)		10,295		222,316		29,751,905		(120,020	)		22,256		142,277
Government bonds		21,675,228		(149,664	)		3,595		153,259		23,518,832		(86,365	)		9,112		95,477
Municipal bonds		1,435,995		(12,524	)		528		13,053		2,759,940		(13,808	)		2,062		15,871
Short-term corporate bonds		—		—			—		—		—		—			—		—
Corporate bonds		2,997,072		(49,832	)		6,170		56,003		3,473,132		(19,846	)		11,081		30,928
Other		28,891,989		(1,684,452	)		359,220		2,043,672		31,097,247		(1,180,541	)		289,146		1,469,688
Foreign equity securities		585,088		(106,757	)		25,386		132,144		408,377		(65,604	)		23,090		88,695
Foreign bonds		18,751,379		(1,706,553	)		12,494		1,719,047		21,710,161		(1,116,208	)		61,205		1,177,413
Other		9,555,520		128,858			321,339		192,480		8,978,707		1,271			204,850		203,579

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”.

Fair Value Information on Securities


	(in millions of yen)
	As of September 30, 2023									As of March 31, 2023
	Amount on balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on balance sheet		Unrealized gains (losses)			Gains		Losses
Debt securities being held to maturity		21,932,483		(440,481	)		9,422		449,903		19,047,385		(78,497	)		49,199		127,696
Stocks of subsidiaries and affiliates		610,147		602,630			605,531		2,901		610,147		482,330			482,914		584

	(in millions of yen)
	As of September 30, 2023									As of March 31, 2023
	Amount on balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on balance sheet		Unrealized gains (losses)			Gains		Losses
Available-for-sale securities		43,909,616		1,414,591			2,818,180		1,403,588		50,631,570		1,276,158			2,374,166		1,098,007
Domestic equity securities		4,008,110		2,698,586			2,713,790		15,204		3,566,081		2,212,225			2,232,823		20,598
Domestic bonds		24,195,262		(136,062	)		9,924		145,987		28,013,980		(79,159	)		21,133		100,292
Other		15,706,244		(1,147,932	)		94,465		1,242,397		19,051,508		(856,907	)		120,209		977,117
Foreign equity securities		542,571		(116,280	)		15,884		132,164		367,745		(73,953	)		15,072		89,026
Foreign bonds		8,796,573		(947,268	)		4,665		951,933		12,565,104		(672,998	)		48,517		721,516
Other		6,367,099		(84,383	)		73,915		158,299		6,118,658		(109,954	)		56,619		166,573
Redemption schedule of Available-for-sale securities with maturities and debt securities being held to maturity
	(in millions of yen)
	As of September 30, 2023									As of March 31, 2023
	within 1 year		1 year to 5 years			5 years to 10 years		over 10 years		within 1 year		1 year to 5 years			5 years to 10 years		over 10 years
Domestic bonds		22,673,654		11,431,784			5,548,778		1,645,507		21,479,460		14,127,226			5,612,956		1,846,349
Government bonds		21,865,341		8,582,003			3,979,419		532,771		20,827,187		10,418,215			3,819,123		670,500
Municipal bonds		335,283		1,421,166			1,228,133		—		292,101		2,002,924			1,413,467		—
Short-term corporate bonds		—		—			—		—		—		—			—		—
Corporate bonds		473,029		1,428,613			341,225		1,112,736		360,171		1,706,086			380,365		1,175,849
Other		3,143,825		4,893,546			2,038,361		8,703,176		2,668,272		9,065,937			2,182,686		7,468,702
Foreign equity securities		7,209		23,483			—		—		6,690		27,734			—		—
Foreign bonds		2,612,388		2,074,255			1,245,874		7,204,132		2,180,275		5,989,003			1,525,102		6,370,025
Other		524,226		2,795,807			792,486		1,499,043		481,305		3,049,198			657,584		1,098,677
Total		25,817,480		16,325,331			7,587,140		10,348,684		24,147,732		23,193,164			7,795,642		9,315,052

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”.

Fair Value Information on Securities


	(in millions of yen)
	As of September 30, 2023									As of March 31, 2023
	Amount on balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on balance sheet		Unrealized gains (losses)			Gains		Losses
Debt securities being held to maturity		2,724,541		(58,458	)		792		59,250		2,472,695		(55,428	)		38		55,466
Stocks of subsidiaries and affiliates		13,636		(1,139	)		—		1,139		11,636		(758	)		—		758

	(in millions of yen)
	As of September 30, 2023									As of March 31, 2023
	Amount on balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on balance sheet		Unrealized gains (losses)			Gains		Losses
Available-for-sale securities		12,089,145		117,140			805,903		688,763		10,871,284		208,580			626,109		417,529
Domestic equity securities		822,995		555,654			558,235		2,581		745,387		467,925			472,431		4,506
Domestic bonds		1,882,955		(76,075	)		369		76,445		1,705,587		(40,984	)		1,114		42,098
Other		9,383,194		(362,438	)		247,298		609,736		8,420,308		(218,360	)		152,563		370,923
Foreign equity securities		94		75			75		—		81		63			63		—
Foreign bonds		6,976,857		(575,104	)		5,313		580,417		6,367,896		(334,590	)		9,436		344,026
Other		2,406,243		212,591			241,910		29,319		2,052,330		116,165			143,062		26,897
Redemption schedule of Available-for-sale securities with maturities and debt securities being held to maturity
	(in millions of yen)
	As of September 30, 2023									As of March 31, 2023
	within 1 year		1 year to 5 years			5 years to 10 years		over 10 years		within 1 year		1 year to 5 years			5 years to 10 years		over 10 years
Domestic bonds		24,703		924,983			358,792		574,475		14,781		759,692			368,758		562,355
Government bonds		—		753,410			247,556		454,571		—		588,036			243,905		435,611
Municipal bonds		2,507		82,592			109,135		—		2,515		73,164			120,593		—
Short-term corporate bonds		—		—			—		—		—		—			—		—
Corporate bonds		22,196		88,980			2,100		119,903		12,266		98,491			4,260		126,743
Other		349,555		2,638,420			3,213,869		3,998,323		1,039,868		1,450,370			3,517,807		3,293,498
Foreign equity securities		—		—			—		—		—		—			—		—
Foreign bonds		339,481		2,509,092			3,073,676		3,779,147		1,006,548		1,268,451			3,424,962		3,140,629
Other		10,073		129,328			140,193		219,176		33,320		181,918			92,844		152,868
Total		374,259		3,563,404			3,572,662		4,572,798		1,054,649		2,210,062			3,886,565		3,855,853

Mitsubishi UFJ Financial Group, Inc.

5. ROE

MUFG Consolidated

(%)

For the six months
ended
September 30, 2023
(A)

Increase
(Decrease)
(A) - (B)

For the six months
ended
September 30, 2022
(B)

ROE (MUFG basis) *1

10.65

7.73

2.91

ROE (JPX basis) *2

10.37

7.64

2.73

Note:

ROE (MUFG basis) is computed as follows:

Profits attributable to owners of parent × 2

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

Japan Exchange Group

Mitsubishi UFJ Financial Group, Inc.

6. Risk-Adjusted Capital Ratio



MUFG Consolidated	(in billions of yen)
	As of September 30, 2023 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
(1) Total capital ratio (4)/(7)		14.02	%		0.11	%		13.91	%
(2) Tier 1 capital ratio (5)/(7)		12.13	%		0.09	%		12.04	%
(3) Common Equity Tier 1 capital ratio (6)/(7)		10.61	%		(0.15	)%		10.76	%
(4) Total capital		18,734.8			1,568.7			17,166.1
(5) Tier 1 capital		16,212.7			1,349.0			14,863.7
(6) Common Equity Tier 1 capital		14,176.5			895.7			13,280.8
(7) Risk weighted assets		133,561.4			10,198.0			123,363.3
(8) Required Capital (7)×8%		10,684.9			815.8			9,869.0

BK Consolidated	(in billions of yen)
	As of September 30, 2023 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
(1) Total capital ratio (4)/(7)		12.70	%		0.11	%		12.58	%
(2) Tier 1 capital ratio (5)/(7)		11.17	%		0.12	%		11.04	%
(3) Common Equity Tier 1 capital ratio (6)/(7)		9.78	%		(0.10	)%		9.89	%
(4) Total capital		15,609.5			1,401.6			14,207.8
(5) Tier 1 capital		13,729.1			1,259.9			12,469.2
(6) Common Equity Tier 1 capital		12,029.5			857.4			11,172.1
(7) Risk weighted assets		122,878.2			10,007.7			112,870.4
(8) Required Capital (7)×8%		9,830.2			800.6			9,029.6

TB Consolidated	(in billions of yen)
	As of September 30, 2023 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
(1) Total capital ratio (4)/(7)		19.89	%		(0.78	)%		20.67	%
(2) Tier 1 capital ratio (5)/(7)		17.27	%		(0.65	)%		17.93	%
(3) Common Equity Tier 1 capital ratio (6)/(7)		15.50	%		(0.91	)%		16.41	%
(4) Total capital		2,174.4			132.8			2,041.5
(5) Tier 1 capital		1,888.6			117.6			1,770.9
(6) Common Equity Tier 1 capital		1,694.5			73.6			1,620.8
(7) Risk weighted assets		10,930.8			1,055.5			9,875.3
(8) Required Capital (7)×8%		874.4			84.4			790.0

BK Non-consolidated	(in billions of yen)
	As of September 30, 2023 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
(1) Total capital ratio (4)/(7)		10.68	%		(0.03	)%		10.71	%
(2) Tier 1 capital ratio (5)/(7)		9.25	%		(0.04	)%		9.30	%
(3) Common Equity Tier 1 capital ratio (6)/(7)		7.80	%		(0.30	)%		8.11	%
(4) Total capital		12,108.8			993.5			11,115.3
(5) Tier 1 capital		10,489.5			845.4			9,644.1
(6) Common Equity Tier 1 capital		8,844.5			434.2			8,410.2
(7) Risk weighted assets		113,281.9			9,594.1			103,687.7
(8) Required Capital (7)×8%		9,062.5			767.5			8,295.0

TB Non-consolidated	(in billions of yen)
	As of September 30, 2023 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
(1) Total capital ratio (4)/(7)		18.61	%		(0.98	)%		19.60	%
(2) Tier 1 capital ratio (5)/(7)		16.21	%		(0.90	)%		17.11	%
(3) Common Equity Tier 1 capital ratio (6)/(7)		14.58	%		(1.16	)%		15.74	%
(4) Total capital		2,210.1			79.1			2,131.0
(5) Tier 1 capital		1,925.2			64.0			1,861.1
(6) Common Equity Tier 1 capital		1,731.7			20.0			1,711.6
(7) Risk weighted assets		11,873.8			1,002.6			10,871.2
(8) Required Capital (7)×8%		949.9			80.2			869.6

Note:

Risk-adjusted capital ratio of MUFG is computed in accordance with the Notification of the Financial Services Agency No.20, 2006.

Risk-adjusted capital ratio of BK and TB are computed in accordance with the Notification of the Financial Services Agency No.19, 2006.

Mitsubishi UFJ Financial Group, Inc.

7. Loans to Be Disclosed under the Banking Act and the Financial Reconstruction Act (the “FRA”)

MUFG Consolidated

(1) Loans to Be Disclosed under the Banking Act and the FRA (after write-offs)


	(in millions of yen)
	As of September 30, 2023			As of March 31, 2023			Increase (Decrease)
Bankrupt or De facto Bankrupt		205,068			198,312			6,755
Doubtful		695,488			746,207			(50,718	)
Special Attention		633,663			618,892			14,770
Accruing loans contractually past due 3 months or more		26,219			23,679			2,539
Restructured loans		607,443			595,212			12,231
Subtotal (A)		1,534,219			1,563,411			(29,192	)

Normal (B)		126,874,902			121,766,210			5,108,692
Total loans (C=A+B)		128,409,121			123,329,622			5,079,499

Non-performing loans ratio (A)/(C)		1.19	%		1.26	%		(0.07	)%

Write-offs		225,101			216,625			8,476

(2) Allowance for Credit Losses


	(in millions of yen)
	As of September 30, 2023		Coverage ratio (D)/(A)			As of March 31, 2023		Coverage ratio (D)/(A)			Increase (Decrease)			Coverage ratio (D)/(A)
Allowance for credit losses (D)		1,382,406		90.10	%		1,245,727		79.68	%		136,679			10.42	%
General allowance for credit losses		958,918					799,536					159,382
Specific allowance for credit losses		392,466					414,026					(21,559	)
Allowance for credit to specific foreign borrowers		31,021					32,165					(1,143	)

(3) Classification of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)



Classified by Geographic Area	(in millions of yen)
	As of September 30, 2023		As of March 31, 2023		Increase (Decrease)
Domestic		864,259		935,849		(71,590	)
Overseas		669,960		627,561		42,398
Asia		413,477		370,222		43,254
Indonesia		49,076		40,496		8,580
Singapore		23,335		25,067		(1,731	)
Thailand		266,275		231,386		34,888
Other		74,789		73,272		1,517
Americas		96,576		102,130		(5,553	)
Europe, Middle East and Other		159,906		155,209		4,697

Total		1,534,219		1,563,411		(29,192	)


Classified by Industry	(in millions of yen)
	As of September 30, 2023		As of March 31, 2023		Increase (Decrease)
Domestic		864,259		935,849		(71,590	)
Manufacturing		308,619		355,468		(46,849	)
Construction		8,279		8,467		(187	)
Wholesale and retail		91,820		90,725		1,095
Finance and insurance		1,765		8,119		(6,353	)
Real estate, goods rental and leasing		49,252		36,097		13,154
Services		90,462		99,295		(8,833	)
Other industries		52,805		77,598		(24,792	)
Consumer		261,253		260,078		1,174
Overseas		669,960		627,561		42,398
Financial institutions		13,738		2,601		11,136
Commercial and industrial		506,379		502,318		4,060
Other		149,842		122,640		27,201

Total		1,534,219		1,563,411		(29,192	)

Mitsubishi UFJ Financial Group, Inc.

BK and TB Combined including Trust Account

“Trust account” represents trust account with contracts indemnifying the principal amounts.

(1) Loans to Be Disclosed under the Banking Act and the FRA (after write-offs)


	(in millions of yen)
	As of September 30, 2023			As of March 31, 2023			Increase (Decrease)
Bankrupt or De facto Bankrupt		62,530			74,448			(11,917	)
Doubtful		468,850			546,567			(77,717	)
Special Attention		475,506			464,199			11,306
Accruing loans contractually past due 3 months or more		18,972			17,167			1,805
Restructured loans		456,534			447,032			9,501
Subtotal (A)		1,006,887			1,085,215			(78,328	)

Normal (B)		113,806,458			109,665,679			4,140,779
Total loans (C=A+B)		114,813,346			110,750,895			4,062,450

Non-performing loans ratio (A)/(C)		0.87	%		0.97	%		(0.10	)%

Write-offs		190,630			182,181			8,449

(2) Status of Coverage of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)


	(in millions of yen)
	As of September 30, 2023		Coverage ratio [(D)+(E)]/(A)			As of March 31, 2023		Coverage ratio [(D)+(E)]/(A)			Increase (Decrease)			Coverage ratio [(D)+(E)]/(A)
Covered amount		777,975		77.26	%		805,937		74.26	%		(27,961	)		3.00	%
Allowance for credit losses (D)		343,433					333,135					10,297
Collateral, guarantees, etc. (E)		434,542					472,801					(38,259	)

(3) Coverage Ratio

(in millions of yen)

Category

Loan amount
(A)

Allowance for
credit losses
(D)

Covered by
collateral and/
or guarantees
(E)

Allowance coverage
ratio for unsecured
portion
(D) / [(A) - (E)]

Coverage ratio
[(D)+(E)]/(A)

Bankrupt or De facto Bankrupt

62,530

3,952

58,578

100.00

[74,448

]

[5,000

]

[69,448

]

[100.00

Doubtful

468,850

177,005

187,665

77.77

[546,567

]

[224,271

]

[215,061

]

[80.38

Special Attention

475,506

162,475

188,298

73.76

[464,199

]

[103,864

]

[188,292

]

[62.93

Total

1,006,887

343,433

434,542

77.26

[1,085,215

]

[333,135

]

[472,801

]

[74.26



Note: The upper figures are as of September 30, 2023. The lower figures with brackets are as of March 31, 2023.
(4) Classification of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)

Classified by Geographic Area

	(in millions of yen)
	As of September 30, 2023		As of March 31, 2023		Increase (Decrease)
Domestic		672,587		750,949		(78,362	)
Overseas		334,299		334,266		33
Asia		97,704		97,915		(210	)
Indonesia		—		—		—
Singapore		23,335		25,067		(1,731	)
Thailand		—		—		—
Other		74,368		72,847		1,520
Americas		96,576		102,130		(5,553	)
Europe, Middle East and Other		140,019		134,220		5,798
Total		1,006,887		1,085,215		(78,328	)

Classified by Industry
	(in millions of yen)
	As of September 30, 2023		As of March 31, 2023		Increase (Decrease)
Domestic		672,587		750,949		(78,362	)
Manufacturing		307,294		354,298		(47,004	)
Construction		7,999		8,326		(327	)
Wholesale and retail		89,917		88,785		1,131
Finance and insurance		1,744		8,097		(6,353	)
Real estate		24,674		22,638		2,035
Goods rental and leasing		24,559		13,438		11,121
Services		90,376		99,205		(8,829	)
Other industries		52,154		77,283		(25,128	)
Consumer		73,868		78,875		(5,007	)
Overseas		334,299		334,266		33
Financial institutions		13,179		2,331		10,848
Commercial and industrial		320,982		325,729		(4,746	)
Other		137		6,204		(6,067	)
Total		1,006,887		1,085,215		(78,328	)

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(1) Loans to Be Disclosed under the Banking Act and the FRA (after write-offs)


	(in millions of yen)
	As of September 30, 2023			As of March 31, 2023			Increase (Decrease)
Bankrupt or De facto Bankrupt		62,391			74,313			(11,921	)
Doubtful		466,782			544,648			(77,866	)
Special Attention		475,506			464,199			11,306
Accruing loans contractually past due 3 months or more		18,972			17,167			1,805
Restructured loans		456,534			447,032			9,501
Subtotal (A)		1,004,680			1,083,162			(78,481	)

Normal (B)		111,186,750			107,103,161			4,083,588
Total loans (C=A+B)		112,191,430			108,186,323			4,005,107

Non-performing loans ratio (A)/(C)		0.89	%		1.00	%		(0.10	)%

Write-offs		190,597			182,148			8,448

(2)	Status of Coverage of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)



	(in millions of yen)
	As of September 30, 2023		Coverage ratio [(D)+(E)]/(A)			As of March 31, 2023		Coverage ratio [(D)+(E)]/(A)			Increase (Decrease)			Coverage ratio [(D)+(E)]/(A)
Covered amount		775,769		77.21	%		803,883		74.21	%		(28,113	)		2.99	%
Allowance for credit losses (D)		343,433					333,135					10,297
Collateral, guarantees, etc. (E)		432,335					470,747					(38,411	)

(3)	Coverage Ratio

(in millions of yen)

Category

Loan amount
(A)

Allowance
for credit
losses (D)

Covered by
collateral and/
or guarantees
(E)

Allowance coverage
ratio for
unsecured portion
(D) / [(A) - (E)]

Coverage ratio
[(D)+(E)]/(A)

Bankrupt or De facto Bankrupt

62,391

3,952

58,439

100.00

[74,313

]

[5,000

]

[69,313

]

[100.00

Doubtful

466,782

177,005

185,596

62.94

77.68

[544,648

]

[224,271

]

[213,141

]

[67.65

[80.31

Special Attention

475,506

162,475

188,298

56.57

73.76

[464,199

]

[103,864

]

[188,292

]

[37.64

[62.93

Total

1,004,680

343,433

432,335

60.00

77.21

[1,083,162

]

[333,135

]

[470,747

]

[54.39

[74.21

Note: The upper figures are as of September 30, 2023. The lower figures with brackets are as of March 31, 2023.

(4)	Classification of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)


Classified by Geographic Area	(in millions of yen)
	As of September 30, 2023		As of March 31, 2023		Increase (Decrease)
Domestic		670,381		748,895		(78,514	)
Overseas		334,299		334,266		33
Asia		97,704		97,915		(210	)
Indonesia		—		—		—
Singapore		23,335		25,067		(1,731	)
Thailand		—		—		—
Other		74,368		72,847		1,520
Americas		96,576		102,130		(5,553	)
Europe, Middle East and Other		140,019		134,220		5,798

Total		1,004,680		1,083,162		(78,481	)


Classified by Industry	(in millions of yen)
	As of September 30, 2023		As of March 31, 2023		Increase (Decrease)
Domestic		670,381		748,895		(78,514	)
Manufacturing		307,294		354,298		(47,004	)
Construction		7,999		8,326		(327	)
Wholesale and retail		89,917		88,785		1,131
Finance and insurance		1,744		8,097		(6,353	)
Real estate		24,674		22,638		2,035
Goods rental and leasing		24,559		13,438		11,121
Services		90,376		99,205		(8,829	)
Other industries		52,154		77,283		(25,128	)
Consumer		71,661		76,821		(5,160	)
Overseas		334,299		334,266		33
Financial institutions		13,179		2,331		10,848
Commercial and industrial		320,982		325,729		(4,746	)
Other		137		6,204		(6,067	)

Total		1,004,680		1,083,162		(78,481	)

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1)	Loans to Be Disclosed under the Banking Act and the FRA (after write-offs)


	(in millions of yen)
	As of September 30, 2023			As of March 31, 2023			Increase (Decrease)
Bankrupt or De facto Bankrupt		138			134			3
Doubtful		2,068			1,919			148
Special Attention		—			—			—
Accruing loans contractually past due 3 months or more		—			—			—
Restructured loans		—			—			—
Subtotal (A)		2,206			2,053			152

Normal (B)		2,616,214			2,558,578			57,635
Total loans (C=A+B)		2,618,421			2,560,632			57,788

Non-performing loans ratio (A)/(C)		0.08	%		0.08	%		—

Write-offs		33			32			0

(2)	Status of Coverage of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)


	(in millions of yen)
	As of September 30, 2023		Coverage ratio [(D)+(E)]/(A)			As of March 31, 2023		Coverage ratio [(D)+(E)]/(A)			Increase (Decrease)		Coverage ratio [(D)+(E)]/(A)
Covered amount		2,206		100.00	%		2,053		100.00	%		152		—
Allowance for credit losses (D)		—					—					—
Collateral, guarantees, etc. (E)		2,206					2,053					152

(3)	Coverage Ratio

(in millions of yen)

Category

Loan amount
(A)

Allowance
for credit
losses (D)

Covered by
collateral and/
or guarantees
(E)

Allowance coverage
ratio for unsecured
portion (D) /[(A) -
(E)]

Coverage ratio
[(D)+(E)]/(A)

Bankrupt or De facto Bankrupt

138

—

138

—

100.00

[134

]

[—

]

[134

]

[—

]

[100.00

Doubtful

2,068

—

2,068

—

100.00

[1,919

]

[—

]

[1,919

]

[—

]

[100.00

Special Attention

—

[—

]

[—

]

[—

]

[—

]

[—

]

Total

2,206

—

2,206

—

100.00

[2,053

]

[—

]

[2,053

]

[—

]

[100.00

Note:

The upper figures are as of September 30, 2023. The lower figures with brackets are as of March 31, 2023.

(4)	Classification of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)


Classified by Geographic Area	(in millions of yen)
	As of September 30, 2023		As of March 31, 2023		Increase (Decrease)
Domestic		2,206		2,053		152
Overseas		—		—		—
Asia		—		—		—
Indonesia		—		—		—
Singapore		—		—		—
Thailand		—		—		—
Other		—		—		—
Americas		—		—		—
Europe, Middle East and Other		—		—		—

Total		2,206		2,053		152


Classified by Industry	(in millions of yen)
	As of September 30, 2023		As of March 31, 2023		Increase (Decrease)
Domestic		2,206		2,053		152
Manufacturing		—		—		—
Construction		—		—		—
Wholesale and retail		—		—		—
Finance and insurance		—		—		—
Real estate		—		—		—
Goods rental and leasing		—		—		—
Services		—		—		—
Other industries		—		—		—
Consumer		2,206		2,053		152
Overseas		—		—		—
Financial institutions		—		—		—
Commercial and industrial		—		—		—
Other		—		—		—

Total		2,206		2,053		152

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated: Trust Account

“Trust account” represents trust account with contracts indemnifying the principal amounts.

(1) Loans to Be Disclosed under the Banking Act and the FRA (after write-offs)


	(in millions of yen)
	As of September 30, 2023		As of March 31, 2023		Increase (Decrease)
Bankrupt or De facto Bankrupt		—		—		—
Doubtful		—		—		—
Special Attention		—		—		—
Accruing loans contractually past due 3 months or more		—		—		—
Restructured loans		—		—		—
Subtotal (A)		—		—		—

Normal(B)		3,494		3,939		(445	)
Total loans (C=A+B)		3,494		3,939		(445	)

Non-performing loans ratio (A)/(C)		—		—		—

Write-offs		—		—		—

(2)	Status of Coverage of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)

(in millions of yen)

As of
September 30, 2023

Coverage ratio
[(D)+(E)]/(A)

As of
March 31, 2023

Coverage ratio
[(D)+(E)]/(A)

Increase
(Decrease)

Coverage ratio
[(D)+(E)]/(A)

Covered amount

—

Allowance for credit losses(D)

—

Collateral, guarantees, etc.(E)

—

(3)	Coverage Ratio

(in millions of yen)

Category

Loan amount
(A)

Allowance for
credit losses
(D)

Covered by
collateral and/
or guarantees
(E)

Allowance coverage
ratio for unsecured
portion (D) / [(A) - (E)]

Coverage ratio
[(D)+(E)]/(A)

Bankrupt or De facto Bankrupt

—

[—

]

[—

]

[—

]

[—

]

[—

]

Doubtful

—

[—

]

[—

]

[—

]

[—

]

[—

]

Special Attention

—

[—

]

[—

]

[—

]

[—

]

[—

]

Total

—

[—

]

[—

]

[—

]

[—

]

[—

]

Note: The upper figures are as of September 30, 2023. The lower figures with brackets are as of March 31, 2023.

(4)	Classification of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)

Classified by Industry

(in millions of yen)

As of
September 30, 2023

As of
March 31, 2023

Increase
(Decrease)

Domestic

—

Manufacturing

—

Construction

—

Wholesale and retail

—

Finance and insurance

—

Real estate

—

Goods rental and leasing

—

Services

—

Other industries

—

Consumer

—

Total

—

Mitsubishi UFJ Financial Group, Inc.

Overview of Self-Assessment, Status of Coverage, and Loans to Be Disclosed under the Banking Act and the FRA

BK and TB Combined

(in billions of yen)

Self-Assessment

Allowance Coverage
ratio for unsecured
portion

Loans to Be Disclosed
under the Banking Act
and the FRA

Category of
Borrowers

Classification

Non-
Classification

Classification
II

Classification
III

Classification
IV

Bankrupt
Borrowers

[58.5]

[2.9]

[1.0]

(*)

100.00%

i) Bankrupt or De facto Bankrupt

[62.5]

Substantially
Bankrupt
Borrowers

Potentially
Bankrupt
Borrowers

[187.6]

[281.1]

62.94%

ii) Doubtful

[468.8]

Borrowers
Requiring
Caution
(Special
Attention
Borrowers)

[475.5]

56.57%

iii) Special Attention

[475.5]

Accruing loans contractually past due

3 months or more

[18.9]

Restructured loans

[456.5]

Borrowers
Requiring
Caution
(Other
Borrowers)

iv) Normal

[113,802.9]

Normal
Borrowers

Non-Performing Loans

i) + ii) + iii)

1,006.8

Loans to Be Disclosed under the Banking Act and the FRA

i) + ii) + iii) + iv)

114,809.8

(*)	“Customers’ liabilities for acceptances and guarantees” in Classification IV are fully reserved.

Mitsubishi UFJ Financial Group, Inc.

8.	Progress in Disposition of Problem Assets

BK Non-consolidated

(1) Bankrupt or De facto Bankrupt and Doubtful Assets Based on the “FRA”


	(in millions of yen)
	As of March 31, 2021		As of March 31, 2022		As of March 31, 2023 (A)		As of September 30, 2023 (B)		(B) - (A)
Assets newly categorized during fiscal 2020		274,842		182,845		135,476		76,399		(59,077	)
Assets newly categorized during fiscal 2021				321,978		110,451		80,161		(30,289	)
Assets newly categorized during fiscal 2022						240,324		173,254		(67,070	)
Assets newly categorized during fiscal 2023								86,918

(2) Progress in Disposition of Problem Assets


	(in millions of yen)
	For the first half of the fiscal year ended September 30, 2023
			Bankrupt or De facto Bankrupt		Doubtful
Liquidation		2,039
Reconstructive treatment		7,482
Upgrade due to reconstructive treatment		—
Loan sold to secondary market		1,321
Write-offs		20,786
Others		145,076
Collection / Repayment		26,427
Upgrade		118,648

Total		176,706		20,231		156,475

Amount in process for disposition		54,889

Note:

The process for disposition consists of legal liquidation, quasi-legal liquidation, company splits to good companies and bad companies, partial direct write-offs of retail exposure to individuals and small/medium-sized companies, and trusts to The Resolution and Collection Corporation mainly for the purpose of revitalization of companies, which are scheduled to be off-balanced before their maturities.

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated including Trust Account

“Trust account” represents trust account with contracts indemnifying the principal amounts.

(1) Bankrupt or De facto Bankrupt and Doubtful Assets Based on the “FRA”


	(in millions of yen)
	As of March 31, 2021		As of March 31, 2022		As of March 31, 2023 (A)		As of September 30, 2023 (B)		(B) - (A)
Assets newly categorized during fiscal 2020		706		272		124		124		—
Assets newly categorized during fiscal 2021				635		272		256		(15	)
Assets newly categorized during fiscal 2022						986		464		(522	)
Assets newly categorized during fiscal 2023								790

(2) Progress in Disposition of Problem Assets


	(in millions of yen)
	For the first half of the fiscal year ended September 30, 2023
			Bankrupt or De facto Bankrupt		Doubtful
Liquidation		—
Reconstructive treatment		—
Upgrade due to reconstructive treatment		—
Loan sold to secondary market		—
Write-offs		1
Others		640
Collection / Repayment		117
Upgrade		522

Total		641		27		614

Amount in process for disposition		84

Note:

Mitsubishi UFJ Financial Group, Inc.

9.	Loans Classified by Type of Industry, Domestic Consumer Loans, Domestic Loans to Small/Medium-Sized Companies and Proprietors

BK and TB Combined including Trust Accounts

(1) Loans Classified by Type of Industry


	(in millions of yen)
	As of September 30, 2023 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Domestic offices (excluding loans booked at offshore markets)		69,612,123			203,629			69,408,494
Manufacturing		11,790,311			120,904			11,669,407
Agriculture, forestry, fishery, mining, quarrying of stone and gravel		123,667			(42,837	)		166,504
Construction		789,871			(42,949	)		832,820
Utilities		2,460,267			(60,743	)		2,521,010
Communication and information services		1,181,733			84,827			1,096,905
Transport and postal activities		2,265,199			(44,933	)		2,310,132
Wholesale and retail		6,268,488			(227,612	)		6,496,100
Finance and insurance		9,075,765			30,605			9,045,159
Real estate		10,300,314			208,859			10,091,455
Goods rental and leasing		2,558,507			(14,989	)		2,573,496
Services		2,660,833			(12,907	)		2,673,741
Municipal government		1,490,911			31,926			1,458,985
Other industries (including loans to the Japanese government)		18,646,255			173,476			18,472,778
Overseas offices and loans booked at offshore markets		34,787,449			3,518,217			31,269,232

Total		104,399,573			3,721,846			100,677,726

(2) Domestic Consumer Loans
	(in millions of yen)
	As of September 30, 2023 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Total domestic consumer loans		15,038,701			(286,212	)		15,324,914
Housing loans		14,334,615			(297,743	)		14,632,358
Residential purpose		12,640,255			(262,700	)		12,902,955
Other		704,086			11,530			692,556
(3) Domestic Loans to Small/Medium-Sized Companies and Proprietors
	(in millions of yen)
	As of September 30, 2023 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Outstanding amount		40,534,310			215,907			40,318,403
% to total domestic loans		58.22	%		0.14	%		58.08	%

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(1) Loans Classified by Type of Industry


	(in millions of yen)
	As of September 30, 2023 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Domestic offices (excluding loans booked at offshore markets)		67,048,045			384,059			66,663,986
Manufacturing		11,788,911			120,904			11,668,007
Agriculture, forestry, fishery, mining, quarrying of stone and gravel		123,667			(42,837	)		166,504
Construction		789,871			(42,949	)		832,820
Utilities		2,460,267			(60,743	)		2,521,010
Communication and information services		1,172,256			88,378			1,083,878
Transport and postal activities		2,250,199			(44,933	)		2,295,132
Wholesale and retail		6,268,488			(227,612	)		6,496,100
Finance and insurance		7,877,728			152,702			7,725,026
Real estate		10,273,767			212,053			10,061,714
Goods rental and leasing		2,558,507			(14,989	)		2,573,496
Services		2,660,304			(12,703	)		2,673,007
Municipal government		1,490,635			31,941			1,458,694
Other industries (including loans to the Japanese government)		17,333,445			224,847			17,108,598
Overseas offices and loans booked at offshore markets		33,857,683			3,393,920			30,463,763

Total		100,905,728			3,777,979			97,127,749

(2) Domestic Consumer Loans
	(in millions of yen)
	As of September 30, 2023 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Total domestic consumer loans		14,361,109			(248,231	)		14,609,341
Housing loans		13,657,762			(259,920	)		13,917,682
Residential purpose		11,963,775			(224,908	)		12,188,683
Other		703,347			11,689			691,658
(3) Domestic Loans to Small/Medium-Sized Companies and Proprietors
	(in millions of yen)
	As of September 30, 2023 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Outstanding amount		39,410,811			279,101			39,131,710
% to total domestic loans		58.77	%		0.08	%		58.69	%

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Loans Classified by Type of Industry


	(in millions of yen)
	As of September 30, 2023 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Domestic offices (excluding loans booked at offshore markets)		1,315,894			(150,739	)		1,466,633
Manufacturing		—			—			—
Agriculture, forestry, fishery, mining, quarrying of stone and gravel		—			—			—
Construction		—			—			—
Utilities		—			—			—
Communication and information services		9,477			(3,550	)		13,027
Transport and postal activities		—			—			—
Wholesale and retail		—			—			—
Finance and insurance		284,195			(108,178	)		392,374
Real estate		559			(3,032	)		3,591
Goods rental and leasing		—			—			—
Services		529			(204	)		734
Municipal government		—			—			—
Other industries (including loans to the Japanese government)		1,021,132			(35,773	)		1,056,905
Overseas offices and loans booked at offshore markets		929,765			124,296			805,468

Total		2,245,659			(26,442	)		2,272,102

(2) Domestic Consumer Loans
	(in millions of yen)
	As of September 30, 2023 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Total domestic consumer loans		674,801			(37,738	)		712,539
Housing loans		674,062			(37,579	)		711,642
Residential purpose		673,697			(37,553	)		711,251
Other		738			(158	)		897
(3) Domestic Loans to Small/Medium-Sized Companies and Proprietors
	(in millions of yen)
	As of September 30, 2023 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Outstanding amount		859,119			(50,545	)		909,665
% to total domestic loans		65.28	%		3.26	%		62.02	%

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated: Trust Accounts

(1) Loans Classified by Type of Industry


	(in millions of yen)
	As of September 30, 2023 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Domestic offices (excluding loans booked at offshore markets)		1,248,184			(29,690	)		1,277,875
Manufacturing		1,400			—			1,400
Agriculture, forestry, fishery, mining, quarrying of stone and gravel		—			—			—
Construction		—			—			—
Utilities		—			—			—
Communication and information services		—			—			—
Transport and postal activities		15,000			—			15,000
Wholesale and retail		—			—			—
Finance and insurance		913,842			(13,917	)		927,759
Real estate		25,988			(160	)		26,149
Goods rental and leasing		—			—			—
Services		—			—			—
Municipal government		276			(14	)		291
Other industries (including loans to the Japanese government)		291,677			(15,597	)		307,275
Overseas offices and loans booked at offshore markets		—			—			—

Total		1,248,184			(29,690)			1,277,875

(2) Domestic Consumer Loans
	(in millions of yen)
	As of September 30, 2023 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Total domestic consumer loans		2,790			(242	)		3,033
Housing loans		2,790			(242	)		3,033
Residential purpose		2,782			(238	)		3,020
Other		—			—			—
(3) Domestic Loans to Small/Medium-Sized Companies and Proprietors
	(in millions of yen)
	As of September 30, 2023 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Outstanding amount		264,379			(12,648	)		277,027
% to total domestic loans		21.18	%		(0.49	)%		21.67	%

Mitsubishi UFJ Financial Group, Inc.

10. Overseas Loans

BK Consolidated excl. KS, BDI


	(in millions of yen)
	As of September 30, 2023 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Americas		15,262,639		2,033,972			13,228,667
United States		12,897,671		1,638,255			11,259,415
Canada		985,794		215,602			770,191
Brazil		471,765		24,448			447,316
Mexico		345,160		36,400			308,760
Others		562,247		119,264			442,983
Asia/Oceania		11,922,841		705,096			11,217,745
Hong Kong		2,182,957		129,121			2,053,836
China		1,647,618		44,047			1,603,570
Australia		1,641,190		111,176			1,530,014
Singapore		1,577,219		166,399			1,410,819
India		1,090,994		131,473			959,521
Indonesia		821,549		20,501			801,047
Malaysia		718,968		(39,419	)		758,388
Korea		561,338		48,521			512,817
Taiwan		548,626		(6,346	)		554,973
New Zealand		367,131		(10,560	)		377,691
Viet Nam		298,101		32,546			265,554
Others		467,144		77,634			389,510
EMEA		9,578,499		415,552			9,162,946
United Kingdom		2,193,347		(101,214	)		2,294,561
Netherlands		1,198,381		211,690			986,691
Germany		835,898		19,453			816,444
France		647,485		38,475			609,009
Luxembourg		558,442		(35,004	)		593,447
Ireland		376,688		67,767			308,921
Qatar		285,589		144,036			141,553
Switzerland		240,922		38,609			202,313
Saudi Arabia		228,538		(52,391	)		280,929
Turkey		219,826		2,847			216,978
Italy		210,955		13,590			197,364
United Arab Emirates		187,586		(41,747	)		229,333
Spain		173,673		(2,715	)		176,389
Belgium		170,131		17,574			152,556
Mauritius		143,428		25,833			117,595
Russia		132,970		(8,242	)		141,212
Oman		100,033		7,319			92,714
Others		1,674,598		69,670			1,604,928

Total		36,763,980		3,154,621			33,609,359

KS and BDI have the following loan balances in the consolidated financial statements.
	(in millions of yen)
	As of September 30, 2023 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
KS		6,337,285		659,473			5,677,812
BDI		1,378,425		296,577			1,081,848

Mitsubishi UFJ Financial Group, Inc.

11. Loans and Deposits

BK and TB Combined


	(in millions of yen)
	As of September 30, 2023 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Deposits (ending balance)		207,510,529		4,161,888			203,348,641
Deposits (average balance)		209,449,922		9,103,590			200,346,332
Loans (ending balance)		103,151,388		3,751,536			99,399,851
Loans (average balance)		104,999,751		5,255,441			99,744,310

BK Non-consolidated
	(in millions of yen)
	As of September 30, 2023 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Deposits (ending balance)		195,119,993		2,847,703			192,272,289
Deposits (average balance)		197,769,042		8,734,254			189,034,788
Loans (ending balance)		100,905,728		3,777,979			97,127,749
Loans (average balance)		102,692,255		5,555,119			97,137,135

TB Non-consolidated
	(in millions of yen)
	As of September 30, 2023 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Deposits (ending balance)		12,390,536		1,314,184			11,076,351
Deposits (average balance)		11,680,880		369,336			11,311,544
Loans (ending balance)		2,245,659		(26,442	)		2,272,102
Loans (average balance)		2,307,496		(299,677	)		2,607,174

Mitsubishi UFJ Financial Group, Inc.

12. Domestic Deposits

BK and TB Combined

(in millions of yen)

As of
September 30, 2023
(A)

Increase
(Decrease)
(A) - (B)

As of
March 31, 2023
(B)

Individuals

91,893,352

1,038,730

90,854,622

Corporations and others

81,463,833

(681,728

)

82,145,562

Domestic deposits

173,357,186

357,001

173,000,185

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

BK Non-consolidated

(in millions of yen)

As of
September 30, 2023
(A)

Increase
(Decrease)
(A) - (B)

As of
March 31, 2023
(B)

Individuals

85,871,530

1,152,983

84,718,547

Corporations and others

77,129,312

(1,679,535

)

78,808,847

Domestic deposits

163,000,842

(526,552

)

163,527,394

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

TB Non-consolidated

(in millions of yen)

As of
September 30, 2023
(A)

Increase
(Decrease)
(A) - (B)

As of
March 31, 2023
(B)

Individuals

6,021,822

(114,252

)

6,136,075

Corporations and others

4,334,520

997,806

3,336,714

Domestic deposits

10,356,343

883,553

9,472,790

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

Mitsubishi UFJ Financial Group, Inc.

13. Status of Deferred Tax Assets

BK Non-consolidated

(1) Tax Effects of the Items Comprising Net Deferred Tax Assets


	(in billions of yen)
	As of September 30, 2023 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Deferred tax assets		1,343.2			286.6			1,056.5
Allowance for credit losses		266.6			20.1			246.5
Write-down on investment securities		359.2			(6.8	)		366.0
Unrealized losses on Available-for-sale securities		297.1			139.6			157.4
Reserve for retirement benefits		78.2			(3.6	)		81.9
Reserve for contingent losses		19.2			(2.6	)		21.8
Depreciation and Impairment losses		87.2			3.7			83.5
Devaluation on land upon merger		20.6			(0.9	)		21.5
Net deferred losses on hedging instruments		360.7			146.6			214.0
Other		241.7			(16.6	)		258.3
Valuation allowance		(387.7	)		7.0			(394.7	)
Deferred tax liabilities		815.9			158.0			657.9
Unrealized gains on Available-for-sale securities		581.8			136.9			444.8
Revaluation gains on securities upon merger		46.5			(0.5	)		47.1
Gains on securities contributed to employees’ retirement benefits trust		44.3			(0.7	)		45.1
Other		143.1			22.4			120.7
Net deferred tax assets		527.2			128.6			398.6

(2) Net operating profits before provision for general allowance for credit losses and Taxable Income


	(in billions of yen)
	FY2018			FY2019			FY2020			FY2021			FY2022			Interim FY2023
Net operating profits before provision for general allowance for credit losses		388.4			395.2			388.0			374.4			690.4			699.2
Total credit costs		128.5			11.8			(223.3	)		(234.0	)		(98.5	)		(64.4	)
Income before income taxes		767.2			(535.9	)		205.5			286.1			1,239.5			723.7
Reconciliation to taxable income		(500.2	)		844.6			98.5			343.3			(453.8	)		(125.1	)
Taxable income		267.0			308.7			304.1			629.5			785.7			598.5

(3) Classification Based on Prior Year Operating Results as Provided in the ASBJ Guidance No.26

We are classified as “2” because we are considered to be a company showing stable financial performance.

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Tax Effects of the Items Comprising Net Deferred Tax Assets


	(in billions of yen)
	As of September 30, 2023 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2023 (B)
Deferred tax assets		74.4			8.9			65.4
Gains on securities related to employees’ retirement benefits trust		41.2			4.9			36.2
Group tax sharing transactions		17.4			6.6			10.8
Depreciation and Impairment losses		9.6			(0.0	)		9.6
Write-down on investment securities		7.9			(0.3	)		8.3
Reserve for contingent losses		2.5			(0.4	)		3.0
Other		19.5			(2.3	)		21.9
Valuation allowance		(23.9	)		0.6			(24.6	)
Deferred tax liabilities		212.4			2.8			209.6
Reserve for retirement benefits		111.1			7.4			103.6
Net deferred gains on hedging instruments		69.6			30.9			38.7
Unrealized gains on Available-for-sale securities		18.8			(35.0	)		53.8
Other		12.8			(0.5	)		13.3
Net deferred tax assets		(138.0	)		6.1			(144.1	)

(2) Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses and Taxable Income


	(in billions of yen)
	FY2018			FY2019			FY2020			FY2021			FY2022			Interim FY2023
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		144.5			142.3			132.3			176.4			109.1			63.3
Total credit costs		1.3			0.8			0.0			0.1			(0.2	)		(0.2	)
Income before income taxes		127.9			148.6			129.4			210.6			165.7			68.7
Reconciliation to taxable income		(79.2	)		(39.3	)		(26.5	)		(37.4	)		(49.7	)		(4.5	)
Taxable income		48.7			109.3			102.9			173.1			116.0			64.1

(3) Classification Based on Prior Year Operating Results as Provided in the ASBJ Guidance No.26

We are classified as “2” because we are considered to be a company showing stable financial performance.

Mitsubishi UFJ Financial Group, Inc.

(Reference)

1. Financial Statements

BK Non-consolidated

(1) Non-consolidated Balance Sheets (selected items)


(in millions of yen)	As of March 31, 2023			As of September 30, 2023
Assets:
Cash and due from banks		90,898,274			87,269,237
Call loans		750,795			903,604
Receivables under resale agreements		1,326,697			1,152,627
Monetary claims bought		4,326,066			4,632,208
Trading assets		6,306,376			7,215,807
Money held in trust		45,161			41,956
Securities		72,253,876			68,167,098
Loans and bills discounted		97,127,749			100,905,728
Foreign exchanges		1,726,923			1,428,578
Other assets		8,923,802			11,980,116
Tangible fixed assets		699,817			689,362
Intangible fixed assets		454,137			473,359
Prepaid pension costs		645,769			694,853
Deferred tax assets		398,626			527,240
Customers’ liabilities for acceptances and guarantees		8,661,518			9,104,106
Allowance for credit losses		(641,107	)		(695,351	)

Total assets		293,904,485			294,490,535

Mitsubishi UFJ Financial Group, Inc.


(in millions of yen)	As of March 31, 2023			As of September 30, 2023
Liabilities:
Deposits		192,272,289			195,119,993
Negotiable certificates of deposit		8,792,227			10,095,267
Call money		23,449			51,483
Payables under repurchase agreements		25,271,176			14,774,849
Payables under securities lending transactions		181,473			—
Commercial papers		1,834,968			2,843,945
Trading liabilities		2,835,605			3,934,091
Borrowed money		33,356,232			34,888,722
Foreign exchanges		2,779,176			2,996,496
Bonds payable		1,284,731			1,342,726
Other liabilities		7,564,963			10,145,940
Reserve for bonuses		71,830			46,744
Reserve for bonuses to directors		148			49
Reserve for stocks payment		3,705			3,434
Reserve for retirement benefits		14,444			16,034
Reserve for loyalty award credits		1,174			—
Reserve for contingent losses		71,357			62,747
Deferred tax liabilities for land revaluation		85,736			83,842
Acceptances and guarantees		8,661,518			9,104,106

Total liabilities		285,106,212			285,510,476

Net assets:
Capital stock		1,711,958			1,711,958
Capital surplus		3,878,275			3,878,275
Capital reserve		1,711,958			1,711,958
Other capital surplus		2,166,317			2,166,317
Retained earnings		3,306,434			3,825,908
Revenue reserve		190,044			190,044
Other retained earnings		3,116,389			3,635,864
Funds for retirement benefits		2,432			2,432
Reserve for investment promotion taxation		260			260
Other reserve		718,196			718,196
Earned surplus brought forward		2,395,500			2,914,974
Treasury stock		(645,700	)		(645,700	)

Total shareholders’ equity		8,250,967			8,770,441

Net unrealized gains (losses) on available-for-sale securities		854,922			864,786
Net deferred gains (losses) on hedging instruments		(476,124	)		(819,652	)
Land revaluation excess		168,507			164,481

Total valuation and translation adjustments		547,305			209,616

Total net assets		8,798,272			8,980,058

Total liabilities and net assets		293,904,485			294,490,535

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(2) Non-consolidated Statements of Income (selected items)


(in millions of yen)	For the six months ended September 30, 2022		For the six months ended September 30, 2023
Ordinary income		2,177,024		3,317,956
Interest income		1,310,981		2,444,083
Interest on loans and bills discounted		669,810		1,476,329
Interest and dividends on securities		471,473		486,495
Fees and commissions		307,184		382,028
Trading income		39,414		68,368
Other operating income		277,512		268,181
Other ordinary income		241,931		155,294
Ordinary expenses		1,550,315		2,592,418
Interest expenses		487,768		1,632,621
Interest on deposits		198,904		787,522
Fees and commissions		84,617		74,938
Trading expenses		3,137		1,804
Other operating expenses		329,247		112,206
General and administrative expenses		556,572		663,478
Other ordinary expenses		88,971		107,369

Ordinary profits		626,708		725,537

Extraordinary gains		4,336		15,637
Extraordinary losses		12,001		17,413

Income before income taxes		619,044		723,761

Income taxes - current		106,063		121,227
Income taxes - deferred		71,954		17,431

Total taxes		178,017		138,658

Net income		441,026		585,102

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Non-consolidated Balance Sheets (selected items)


(in millions of yen)	As of March 31, 2023			As of September 30, 2023
Assets:
Cash and due from banks		13,673,282			14,627,848
Call loans		230,000			1,300,000
Receivables under resale agreements		77,370			86,274
Receivables under securities borrowing transactions		106,180			126,834
Monetary claims bought		124,086			202,087
Trading assets		78,114			99,450
Money held in trust		157,275			85,802
Securities		14,117,360			15,523,111
Loans and bills discounted		2,272,102			2,245,659
Foreign exchanges		248,948			336,120
Other assets		1,352,617			2,523,834
Tangible fixed assets		125,644			125,141
Intangible fixed assets		91,894			92,683
Prepaid pension costs		457,432			481,894
Customers’ liabilities for acceptances and guarantees		36,751			31,355
Allowance for credit losses		(1,045	)		(1,156	)

Total assets		33,148,018			37,886,944

Mitsubishi UFJ Financial Group, Inc.


(in millions of yen)	As of March 31, 2023			As of September 30, 2023
Liabilities:
Deposits		11,076,351			12,390,536
Negotiable certificates of deposit		4,675,417			6,099,174
Call money		5,165			5,174
Payables under repurchase agreements		5,281,893			5,707,952
Payables under securities lending transactions		4,041			1,304
Commercial papers		368,100			360,438
Trading liabilities		189,453			295,111
Borrowed money		1,679,724			1,719,951
Foreign exchanges		378,171			350,574
Short-term bonds payable		120,999			275,998
Bonds payable		30,000			30,000
Due to trust accounts		6,207,882			6,843,147
Other liabilities		846,818			1,502,062
Reserve for bonuses		5,163			5,070
Reserve for bonuses to directors		98			34
Reserve for stocks payment		2,855			3,153
Reserve for contingent losses		9,820			8,225
Deferred tax liabilities		144,164			138,022
Deferred tax liabilities for land revaluation		3,789			3,689
Acceptances and guarantees		36,751			31,355

Total liabilities		31,066,664			35,770,979

Net assets:
Capital stock		324,279			324,279
Capital surplus		455,970			455,970
Capital reserve		250,619			250,619
Other capital surplus		205,351			205,351
Retained earnings		1,368,530			1,410,229
Revenue reserve		73,714			73,714
Other retained earnings		1,294,816			1,336,515
Funds for retirement benefits		710			710
Reserve for investment promotion taxation		227			227
Other reserve		138,495			138,495
Earned surplus brought forward		1,155,383			1,197,082
Treasury stock		(299,999	)		(299,999	)

Total shareholders’ equity		1,848,780			1,890,479

Net unrealized gains (losses) on available-for-sale securities		144,937			67,970
Net deferred gains (losses) on hedging instruments		87,817			157,925
Land revaluation excess		(182	)		(409	)

Total valuation and translation adjustments		232,573			225,486

Total net assets		2,081,353			2,115,965

Total liabilities and net assets		33,148,018			37,886,944

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(2) Non-consolidated Statements of Income (selected items)


(in millions of yen)	For the six months ended September 30, 2022			For the six months ended September 30, 2023
Ordinary income		644,486			717,169
Trust fees		56,194			58,464
Interest income		450,252			485,490
Interest on loans and bills discounted		13,615			34,401
Interest and dividends on securities		407,682			352,516
Fees and commissions		66,433			69,585
Trading income		27			19
Other operating income		49,799			75,292
Other ordinary income		21,778			28,318
Ordinary expenses		510,170			647,048
Interest expenses		113,569			410,606
Interest on deposits		13,584			47,721
Fees and commissions		24,337			26,343
Trading expenses		32,670			46,749
Other operating expenses		238,402			36,624
General and administrative expenses		97,170			105,632
Other ordinary expenses		4,020			21,091

Ordinary profits		134,316			70,121

Extraordinary gains		764			1,006
Extraordinary losses		2,618			2,353

Income before income taxes		132,462			68,773

Income taxes - current		35,526			19,639
Income taxes - deferred		(3,061	)		(2,255	)

Total taxes		32,464			17,384

Net income		99,997			51,389

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(3) Statements of Trust Assets and Liabilities

Including trust assets under service-shared co-trusteeship


(in millions of yen)	As of March 31, 2023		As of September 30, 2023
Assets:
Loans and bills discounted		1,277,875		1,248,184
Securities		70,547,100		72,616,033
Beneficiary rights to the trust		118,934,755		131,054,757
Securities held in custody accounts		2,933,178		3,696,267
Monetary claims		32,819,251		33,201,101
Tangible fixed assets		20,879,125		21,627,087
Intangible fixed assets		165,299		174,074
Other claims		3,189,442		3,375,663
Call loans		3,673,857		4,546,759
Due from banking account		10,620,708		9,785,917
Cash and due from banks		6,927,037		7,107,511

Total		271,967,632		288,433,357

Liabilities:
Money trusts		33,565,350		33,046,966
Pension trusts		12,233,123		11,667,450
Property formation benefit trusts		6,273		5,874
Investment trusts		122,338,610		134,939,917
Money entrusted other than money trusts		6,153,057		7,768,604
Securities trusts		5,361,672		6,192,438
Monetary claim trusts		28,813,961		29,215,702
Equipment trusts		166,695		188,382
Land and fixtures trusts		18,626		18,586
Composite trusts		63,310,260		65,389,434

Total		271,967,632		288,433,357



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 297,227 millions of yen as of September 30, 2023.

Detailed information for “Money trust” with contracts indemnifying the principal amounts

(including trusts for which beneficiary interests are re-entrusted)



(in millions of yen)	As of March 31, 2023		As of September 30, 2023
Assets:
Loans and bills discounted		3,939		3,494
Other		6,405,078		6,985,423

Total		6,409,018		6,988,917

Liabilities:
Principal		6,408,838		6,988,734
Allowance for bad debts		11		10
Other		168		172

Total		6,409,018		6,988,917

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(4) Major Items


(in millions of yen)	As of March 31, 2023		As of September 30, 2023
Total funds		61,556,516		63,210,002

Deposits		11,076,351		12,390,536
Negotiable certificates of deposit		4,675,417		6,099,174
Money trusts		33,565,350		33,046,966
Pension trusts		12,233,123		11,667,450
Property formation benefit trusts		6,273		5,874

Loans and bills discounted		3,549,977		3,493,844

Banking account		2,272,102		2,245,659
Trust account		1,277,875		1,248,184

Investment securities		84,664,460		88,139,145