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MUFG 6-K

Mitsubishi Ufj Financial Group Inc (MUFG)

6-K 2025-05-15 For: 2025-05-15
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Added on July 04, 2026

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 May 2025

Commission File No. 000-54189

MITSUBISHI UFJ FINANCIAL GROUP, INC.

(Translation of registrant’s name into English)

4-5, Marunouchi 1-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FROM THE DATE ON WHICH THIS REPORT IS FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED WITH OR FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION.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: May 15, 2025

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 fiscal year ended March 31, 2025

May 15, 2025

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<br>Accounting Office, Financial Planning Division
TEL 050-3613-1179
General meeting of shareholders: June 27, 2025
Dividend payment date: June 30, 2025
Securities report issuing date: June 25, 2025
Trading accounts: Established
Supplemental information for financial statements: Available
Investor meeting presentation: Scheduled (for investors and analysts)

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

1. Consolidated Financial Data for the Fiscal Year ended March 31, 2025

(1) Results of Operations
(% represents the change from the previous fiscal year)
--- --- :---: --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Ordinary Income Ordinary Profits Profits Attributable to<br>Owners of Parent
million yen % million yen % million yen %
Fiscal year ended
March 31, 2025 13,629,997 14.6 2,669,483 25.4 1,862,946 25.0
March 31, 2024 11,890,350 28.1 2,127,958 108.5 1,490,781 33.5
(*) Comprehensive income
:--- :---

March 31, 2025: 2,069,660 million yen (37.6) %; March 31, 2024: 3,316,519 million yen 186.2 %

Basic earnings<br>per share Diluted earnings<br>per share Net Income to Net Assets<br>Attributable to<br>MUFG shareholders Ordinary Profits<br>to Total Assets Ordinary Profits to<br>Ordinary Income
yen yen % % %
Fiscal year ended
March 31, 2025 160.02 159.48 9.3 0.7 19.6
March 31, 2024 124.65 124.33 8.1 0.5 17.9

(Reference) Income from investment in affiliates (Equity method)

March 31, 2025: 596,956 million yen; March 31, 2024: 531,803 million yen

(2) Financial Conditions
Total Assets Total Net Assets Equity-to-asset<br>ratio (*) Total Net Assets<br>per Common Stock
--- --- :---: --- --- :---: --- --- :---: --- --- :---: ---
million yen million yen % yen
As of
March 31, 2025 413,113,501 21,728,132 5.0 1,783.37
March 31, 2024 403,703,147 20,746,978 4.9 1,670.45

(Reference) Shareholders’ equity as of March 31, 2025: 20,520,374 million yen; March 31, 2024: 19,587,974 million yen

(*) “Equity-to-asset<br>ratio” is computed under the formula shown below
(Total net assets - Subscription rights to shares -<br>Non-controlling interests) / Total assets
:---
(3) Cash Flows
:--- :---
Cash Flows from<br>Operating Activities Cash Flows from<br>Investing Activities Cash Flows from<br>Financing Activities Cash and Cash Equivalents<br>at the end of the period
--- --- :---: --- --- :---: --- --- :---: --- --- :---: ---
million yen million yen million yen million yen
Fiscal year ended
March 31, 2025 6,415 (186,948 ) (861,116 ) 109,095,437
March 31, 2024 (9,844,860 ) 3,986,415 8,307 109,875,097

2. Dividends on Common Stock

Dividends per Share Total<br>dividends Dividend<br>payout ratio<br>(Consolidated) Dividend on<br>net assets ratio<br>(Consolidated)
1^st^<br>quarter-end 2nd<br>quarter-end 3^rd^<br>quarter-end Fiscal<br>year-end Total
yen yen yen yen yen million yen % %
Fiscal year
ended March 31, 2024 — 20.50 — 20.50 41.00 488,038 32.9 2.6
ended March 31, 2025 — 25.00 — 39.00 64.00 741,992 40.0 3.7
ending March 31, 2026 (Forecast) — 35.00 — 35.00 70.00 40.3
(*) 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, 2026 (Consolidated)

MUFG has set an earnings target of 2,000.0 billion yen of profits attributable to owners of parent for the fiscal year ending March 31, 2026. 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: Yes

(B) Changes in accounting policies due to reasons other than (A): Yes

(C) Changes in accounting estimates: No

(D) Restatements: No

(3) Number of common stocks outstanding at the end of the period
(A) Total stocks outstanding including treasury stocks: March 31, 2025 12,067,710,920 shares
--- --- --- --- ---:
March 31, 2024 12,337,710,920 shares
(B) Treasury stocks: March 31, 2025 561,193,945 shares
March 31, 2024 611,522,914 shares
(C) Average outstanding stocks: Fiscal year ended March 31, 2025 11,642,149,075 shares
Fiscal year ended March 31, 2024 11,959,977,563 shares

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

* Notes for using forecasted information etc.

1. This financial summary report contains forward-looking statements regarding estimations, forecasts, targets and<br>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<br>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.<br>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<br>actual result. For the main factors that may affect the current forecasts, please see Consolidated Summary Report, Annual Securities Report, Disclosure Book, Annual Report, and other current disclosures that the company has announced.
2. The financial information included in this financial summary report is prepared and presented in accordance<br>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.<br>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<br>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<br>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<br>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. Results of Operations and Financial Condition 2
(1) Analysis of results of operations 2
(2) Analysis of financial condition 3
2. Basic Views on Selection of Accounting Standards 3
3. Consolidated Financial Statements and Notes 4
(1) Consolidated Balance Sheets 4
(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income 6
(3) Consolidated Statements of Changes in Net Assets 9
(4) Consolidated Statements of Cash Flows 11
Notes to the Consolidated Financial Statements 13
Notes on Going-Concern Assumption
Changes in Accounting Policies
Additional Information
Segment Information
Per Share Information
Subsequent Events

Supplemental Information:

“Selected Financial Information under Japanese GAAP For the Fiscal Year Ended March 31, 2025”

(*) The following is the schedule of internet conference and explanation for investors and analysts. You can<br>confirm those contents over the internet.
Internet Conference: May 15, 2025 (Thursday)
--- --- ---
Explanation for investors and analysts: May 19, 2025 (Monday)

1

Mitsubishi UFJ Financial Group, Inc.

1. Results of Operations and Financial Condition

(1) Analysis of results of operations

(Results of operations for the fiscal year ended March 31, 2025)

Consolidated gross profits for the fiscal year ended March 31, 2025, increased 86.7 billion yen from the previous fiscal year to 4,819.3 billion yen. This was due to an increase in net interest income with the improved margins and incorporation of the impact of JPY interest rate hike, in addition to the contribution of overseas acquisitions, an increase in net fees and commissions with the favorable performance of the fee business in both domestic and global, partially offset by net losses on debt securities realized through rebalance of the bond portfolio leveraging one-time gains. General and administrative expenses increased 339.3 billion yen from the previous fiscal year to 3,228.1 billion yen, due to the impact of the investment in resources for growth and the impact of inflation, in addition to the impact of overseas acquisitions, etc. As a result, while net operating profits decreased 252.5 billion yen from the previous fiscal year to 1,591.1 billion yen due to net losses on debt securities realized through rebalance of the bond portfolio, net operating profits in customer segments demonstrated the good performance.

Total credit costs decreased 389.1 billion yen from the previous fiscal year to 108.7 billion yen, mainly due to the large reversal of overseas credit costs. Net gains on equity securities improved 221.2 billion yen from the previous fiscal year to 592.5 billion yen, mainly due to the progress in the sales of equity holdings. As a result, ordinary profits for the fiscal year ended March 31, 2025, increased 541.5 billion yen from the previous fiscal year to 2,669.4 billion yen. As a result, profits attributable to owners of parent for the fiscal year ended March 31, 2025, were 1,862.9 billion yen, an increase of 372.1 billion yen from the previous fiscal year.

(in billions of Japanese yen) For the fiscal year<br>ended<br>March 31, 2025 For the fiscal year<br>ended<br>March 31, 2024 Increase<br>(Decrease)
Gross profits before credit costs for trust accounts 4,819.3 4,732.5 86.7
General and administrative expenses 3,228.1 2,888.7 339.3
Net operating profits before credit costs for trust accounts and provision for general allowance<br>for credit losses 1,591.1 1,843.7 (252.5 )
Total credit costs (108.7 ) (497.9 ) 389.1
Net gains (losses) on equity securities 592.5 371.2 221.2
Equity in earnings of equity method investees 596.9 531.8 65.1
Other non-recurring gains (losses) (2.4 ) (120.9 ) 118.4
Ordinary profits 2,669.4 2,127.9 541.5
Net extraordinary gains (losses) (118.8 ) (77.8 ) (40.9 )
Total taxes 609.1 478.3 130.8
Profits attributable to non-controlling interests 78.5 80.9 (2.4 )
Profits attributable to owners of parent 1,862.9 1,490.7 372.1

2

Mitsubishi UFJ Financial Group, Inc.

(2) Analysis of financial condition

Total assets as of March 31, 2025 increased 9,410.3 billion yen from March 31, 2024 to 413,113.5 billion yen, and total net assets as of March 31, 2025 increased 981.1 billion yen from March 31, 2024 to 21,728.1 billion yen. The increase in total net assets was mainly due to an increase of Retained earnings and Foreign currency translation adjustments, etc.

With regard to major items of assets, loans and bills discounted as of March 31, 2025 increased 4,610.4 billion yen from March 31, 2024 to 121,436.1 billion yen and securities as of March 31, 2025 decreased 753.2 billion yen from March 31, 2024 to 86,125.3 billion yen. With regard to major items of liabilities, deposits as of March 31, 2025 increased 4,477.7 billion yen from March 31, 2024 to 228,512.7 billion yen.

2. Basic Views on Selection of Accounting Standards

MUFG group, currently adopting Japanese GAAP, is preparing for its future adoption of IFRS by considering the development of its infrastructures and organizations within the group, and the timing of adoption.

3

Mitsubishi UFJ Financial Group, Inc.

3. Consolidated Financial Statements and Notes

(1) Consolidated Balance Sheets

(in millions of yen) As of<br>March 31, 2024 As of<br>March 31, 2025
Assets:
Cash and due from banks 109,875,097 109,095,437
Call loans and bills bought 720,879 1,180,949
Receivables under resale agreements 18,367,908 18,856,895
Receivables under securities borrowing transactions 5,010,399 5,701,495
Monetary claims bought 7,786,978 6,620,404
Trading assets 20,886,546 26,142,919
Money held in trust 1,270,815 1,084,487
Securities 86,878,589 86,125,371
Loans and bills discounted 116,825,660 121,436,133
Foreign exchanges 2,496,308 1,913,526
Other assets 17,912,498 17,824,068
Tangible fixed assets 1,229,007 1,240,104
Buildings 281,807 285,624
Land 625,557 600,852
Lease assets 15,517 7,581
Construction in progress 29,264 33,974
Other tangible fixed assets 276,860 312,072
Intangible fixed assets 1,671,372 1,875,551
Software 611,287 669,248
Goodwill 405,629 530,386
Lease assets 26 12
Other intangible fixed assets 654,429 675,903
Net defined benefit assets 1,982,502 2,217,529
Deferred tax assets 156,673 148,752
Customers’ liabilities for acceptances and guarantees 12,167,164 12,864,745
Allowance for credit losses (1,535,253 ) (1,214,870 )
Total assets 403,703,147 413,113,501

4

Mitsubishi UFJ Financial Group, Inc.

(in millions of yen) As of<br>March 31, 2024 As of<br>March 31, 2025
Liabilities:
Deposits 224,035,035 228,512,749
Negotiable certificates of deposit 16,555,451 17,374,010
Call money and bills sold 5,125,583 5,072,926
Payables under repurchase agreements 35,482,072 43,359,076
Payables under securities lending transactions 1,047,194 699,852
Commercial papers 3,105,779 3,475,042
Trading liabilities 16,729,760 19,362,603
Borrowed money 25,955,961 22,101,954
Foreign exchanges 3,465,919 2,508,462
Short-term bonds payable 1,211,769 1,373,236
Bonds payable 16,303,298 14,018,955
Due to trust accounts 7,387,495 4,937,999
Other liabilities 13,312,715 14,563,347
Reserve for bonuses 243,372 251,665
Reserve for bonuses to directors 2,629 2,879
Reserve for stocks payment 13,331 11,077
Net defined benefit liabilities 102,155 104,612
Reserve for retirement benefits to directors 822 813
Reserve for loyalty award credits 17,809 7,730
Reserve for contingent losses 133,860 150,657
Reserves under special laws 5,058 5,295
Deferred tax liabilities 465,295 540,770
Deferred tax liabilities for land revaluation 86,631 84,903
Acceptances and guarantees 12,167,164 12,864,745
Total liabilities 382,956,169 391,385,368
Net assets:
Capital stock 2,141,513 2,141,513
Capital surplus 83,623 —
Retained earnings 13,791,608 14,845,617
Treasury stock (613,823 ) (726,631 )
Total shareholders’ equity 15,402,921 16,260,498
Net unrealized gains (losses) on<br>available-for-sale securities 1,534,094 1,327,127
Net deferred gains (losses) on hedging instruments (687,476 ) (894,227 )
Land revaluation excess 133,967 122,400
Foreign currency translation adjustments 2,762,818 3,198,279
Remeasurements of defined benefit plans 507,085 554,502
Debt value adjustments of foreign subsidiaries and affiliates (65,435 ) (51,663 )
Net unrealized gains (losses) on loans of foreign subsidiaries and affiliates — 3,457
Total accumulated other comprehensive income 4,185,052 4,259,875
Subscription rights to shares 0 11
Non-controlling interests 1,159,003 1,207,746
Total net assets 20,746,978 21,728,132
Total liabilities and net assets 403,703,147 413,113,501

5

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 fiscal year<br>ended<br>March 31, 2024 For the fiscal year<br>ended<br>March 31, 2025
Ordinary income 11,890,350 13,629,997
Interest income 7,468,679 8,467,719
Interest on loans and bills discounted 3,969,660 4,158,027
Interest and dividends on securities 1,372,086 1,685,174
Interest on call loans and bills bought 31,822 33,377
Interest on receivables under resale agreements 421,537 747,550
Interest on receivables under securities borrowing transactions 125,323 161,089
Interest on deposits 709,392 751,749
Other interest income 838,856 930,751
Trust fees 139,363 144,395
Fees and commissions 2,047,232 2,360,111
Trading income 368,172 454,258
Other operating income 679,329 505,980
Other ordinary income 1,187,572 1,697,531
Reversal of allowance for credit losses — 76,843
Gains on loans written-off 101,726 112,203
Others 1,085,846 1,508,484
Ordinary expenses 9,762,391 10,960,514
Interest expenses 5,011,105 5,591,266
Interest on deposits 1,929,404 2,108,129
Interest on negotiable certificates of deposit 681,823 716,717
Interest on call money and bills sold 1,718 13,348
Interest on payables under repurchase agreements 1,065,167 1,364,295
Interest on payables under securities lending transactions 22,801 20,426
Interest on commercial papers 164,313 145,534
Interest on borrowed money 114,617 159,238
Interest on short-term bonds payable 362 4,139
Interest on bonds payable 470,099 464,681
Other interest expenses 560,796 594,754
Fees and commissions 365,940 414,289
Other operating expenses 593,515 1,107,697
General and administrative expenses 2,920,875 3,166,035
Other ordinary expenses 870,954 681,224
Provision for allowance for credit losses 377,978 —
Others 492,975 681,224
Ordinary profits 2,127,958 2,669,483

6

Mitsubishi UFJ Financial Group, Inc.

(in millions of yen) For the fiscal year<br>ended<br>March 31,<br>2024 For the fiscal year<br>ended<br>March 31,<br>2025
Extraordinary gains 19,738 67,824
Gains on disposition of fixed assets 19,621 19,961
Gains on sales of shares of affiliates — 47,759
Gains on change in equity 117 102
Extraordinary losses 97,593 186,673
Losses on disposition of fixed assets 15,027 12,348
Losses on impairment of fixed assets 31,108 141,542
Provision for reserve for contingent liabilities from financial instruments transactions 399 236
Provision for reserve for contingent liabilities arising from commodities transactions — 0
Losses on change in equity 50,964 23,668
Losses on step acquisitions — 5,854
Losses on sales of shares of subsidiaries 93 3,023
Profits before income taxes 2,050,104 2,550,634
Income taxes-current 411,857 382,695
Income taxes-deferred 66,485 226,461
Total taxes 478,342 609,156
Profits 1,571,761 1,941,477
Profits attributable to non-controlling interests 80,979 78,530
Profits attributable to owners of parent 1,490,781 1,862,946

7

Mitsubishi UFJ Financial Group, Inc.

Consolidated Statements of Comprehensive Income

(in millions of yen) For the fiscal year<br>ended<br>March 31,<br>2024 For the fiscal year<br>ended<br>March 31,<br>2025
Profits 1,571,761 1,941,477
Other comprehensive income
Net unrealized gains (losses) on<br>available-for-sale securities 706,097 (233,452 )
Net deferred gains (losses) on hedging instruments (297,162 ) (201,599 )
Land revaluation excess — (2,424 )
Foreign currency translation adjustments 587,606 464,906
Remeasurements of defined benefit plans 369,769 45,916
Net unrealized gains (losses) on loans of foreign subsidiaries and affiliates — 4,279
Share of other comprehensive income of associates accounted for using equity method 378,446 50,556
Total other comprehensive income 1,744,757 128,182
Comprehensive income 3,316,519 2,069,660
(Comprehensive income attributable to)
Comprehensive income attributable to owners of parent 3,195,413 1,948,808
Comprehensive income attributable to non-controlling<br>interests 121,106 120,851

8

Mitsubishi UFJ Financial Group, Inc.

(3) Consolidated Statements of Changes in Net Assets

For the fiscal year ended March 31, 2024

(in millions of yen)
Shareholders’ equity Accumulated other<br>comprehensive income
Capital stock Capital surplus Retained<br>earnings Treasury stock Total<br>shareholders’<br>equity Net unrealized<br>gains (losses) on<br>available-for-<br>sale securities Net deferred<br>gains (losses) on<br>hedging<br>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 (439,960 ) (439,960 )
Profits attributable to owners of parent 1,490,781 1,490,781
Repurchase of treasury stock (400,036 ) (400,036 )
Disposal of treasury stock 211 2,295 2,506
Retirement of treasury stock (265,009 ) 265,009 —
Reversal of land revaluation excess 1,559 1,559
Changes in subsidiaries’ equity (1,239 ) (1,239 )
Net changes of items other than shareholders’ equity 733,139 (300,397 )
Total changes during the period — (266,037 ) 1,052,380 (132,731 ) 653,610 733,139 (300,397 )
Balance at the end of the period 2,141,513 83,623 13,791,608 (613,823 ) 15,402,921 1,534,094 (687,476 )
(in millions of yen)
--- ---: --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Accumulated other comprehensive income Subscription<br>rights to<br>shares Non-<br>controlling<br>interests Total net assets
Land<br>revaluation<br>excess Foreign<br>currency<br>translation<br>adjustments Remeasurements<br>of defined<br>benefit plans Debt value<br>adjustments of<br>foreign<br>subsidiaries and<br>affiliates Total<br>accumulated<br>other<br>comprehensive<br>income
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 (439,960 )
Profits attributable to owners of parent 1,490,781
Repurchase of treasury stock (400,036 )
Disposal of treasury stock 2,506
Retirement of treasury stock —
Reversal of land revaluation excess 1,559
Changes in subsidiaries’ equity (1,239 )
Net changes of items other than shareholders’ equity (1,559 ) 969,978 366,600 (64,688 ) 1,703,072 0 117,437 1,820,510
Total changes during the period (1,559 ) 969,978 366,600 (64,688 ) 1,703,072 0 117,437 2,474,121
Balance at the end of the period 133,967 2,762,818 507,085 (65,435 ) 4,185,052 0 1,159,003 20,746,978

9

Mitsubishi UFJ Financial Group, Inc.

For the fiscal year ended March 31, 2025

(in millions of yen)
Shareholders’ equity Accumulated other<br>comprehensive income
Capital stock Capital surplus Retained<br>earnings Treasury<br>stock Total<br>shareholders’<br>equity Net unrealized<br>gains (losses)<br>on<br>available-for-sale<br>securities Net deferred<br>gains (losses) on<br>hedging<br>instruments
Balance at the beginning of the period 2,141,513 83,623 13,791,608 (613,823 ) 15,402,921 1,534,094 (687,476 )
Cumulative effects of<br><br>changes in accounting policies 6,119 6,119 (1,896 )
Restated balance 2,141,513 83,623 13,797,728 (613,823 ) 15,409,041 1,534,094 (689,373 )
Changes during the period
Cash dividends (533,196 ) (533,196 )
Profits attributable to owners of parent 1,862,946 1,862,946
Repurchase of treasury stock (418,426 ) (418,426 )
Disposal of treasury stock 0 9,333 9,333
Retirement of treasury stock (296,284 ) 296,284 —
Reversal of land revaluation excess 9,142 9,142
Changes in subsidiaries’ equity (78,342 ) (78,342 )
Transfer from retained earnings to capital surplus 291,003 (291,003 ) —
Net changes of items other than shareholders’ equity (206,967 ) (204,854 )
Total changes during the period — (83,623 ) 1,047,889 (112,808 ) 851,457 (206,967 ) (204,854 )
Balance at the end of the period 2,141,513 — 14,845,617 (726,631 ) 16,260,498 1,327,127 (894,227 )
(in millions of yen)
--- ---: --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Accumulated other comprehensive income Subscription<br>rights to<br>shares Non-controlling<br>interests Total net<br>assets
Land<br>revaluation<br>excess Foreign<br>currency<br>translation<br>adjustments Remeasurements<br>of defined<br>benefit plans Debt value<br>adjustments<br>of foreign<br>subsidiaries<br>and affiliates Net<br>unrealized<br>gains (losses)<br>on loans of<br>foreign<br>subsidiaries<br>and affiliates Total<br>accumulated<br>other<br>comprehensive<br>income
Balance at the beginning of the period 133,967 2,762,818 507,085 (65,435 ) — 4,185,052 0 1,159,003 20,746,978
Cumulative effects of<br><br>changes in accounting policies (1,896 ) 4,223
Restated balance 133,967 2,762,818 507,085 (65,435 ) — 4,183,156 0 1,159,003 20,751,202
Changes during the period
Cash dividends (533,196 )
Profits attributable to owners of parent 1,862,946
Repurchase of treasury stock (418,426 )
Disposal of treasury stock 9,333
Retirement of treasury stock —
Reversal of land revaluation excess 9,142
Changes in subsidiaries’ equity (78,342 )
Transfer from retained earnings to capital surplus —
Net changes of items other than shareholders’ equity (11,567 ) 435,460 47,416 13,772 3,457 76,719 10 48,743 125,473
Total changes during the period (11,567 ) 435,460 47,416 13,772 3,457 76,719 10 48,743 976,930
Balance at the end of the period 122,400 3,198,279 554,502 (51,663 ) 3,457 4,259,875 11 1,207,746 21,728,132

10

Mitsubishi UFJ Financial Group, Inc.

(4) Consolidated Statements of Cash Flows

(in millions of yen) For the fiscal year ended<br>March 31, 2024 For the fiscal year ended<br>March 31, 2025
Cash flows from operating activities:
Profits before income taxes 2,050,104 2,550,634
Depreciation and amortization 340,137 378,476
Impairment losses 31,108 141,542
Amortization of goodwill 22,230 36,553
Equity in losses (gains) of equity method investees (531,803 ) (596,956 )
Increase (decrease) in allowance for credit losses 224,881 (355,752 )
Increase (decrease) in reserve for bonuses 34,279 705
Increase (decrease) in reserve for bonuses to directors (1,239 ) 134
Increase (decrease) in reserve for stocks payment 4,027 (2,254 )
Decrease (increase) in net defined benefit assets (481,644 ) (80,073 )
Increase (decrease) in net defined benefit liabilities 7,404 887
Increase (decrease) in reserve for retirement benefits to directors (7 ) (2 )
Increase (decrease) in reserve for loyalty award credits (1,077 ) (10,824 )
Increase (decrease) in reserve for contingent losses (32,296 ) 8,400
Interest income recognized on statement of income (7,468,679 ) (8,467,719 )
Interest expenses recognized on statement of income 5,011,105 5,591,266
Losses (gains) on securities 79,574 401,929
Losses (gains) on money held in trust 76,366 (231 )
Foreign exchange losses (gains) (4,994,338 ) 162,239
Losses (gains) on sales of fixed assets (4,594 ) (7,612 )
Net decrease (increase) in trading assets (2,288,718 ) (4,698,259 )
Net increase (decrease) in trading liabilities 1,387,039 2,172,346
Adjustment of unsettled trading accounts (206,076 ) 484,987
Net decrease (increase) in loans and bills discounted (6,763,304 ) (4,061,718 )
Net increase (decrease) in deposits 9,410,399 3,607,220
Net increase (decrease) in negotiable certificates of deposit 2,903,887 792,861
Net increase (decrease) in borrowed money (excluding subordinated borrowings) 920,095 (4,070,898 )
Net decrease (increase) in call loans and bills bought and others (4,059,830 ) 1,111,226
Net decrease (increase) in receivables under securities borrowing transactions (281,434 ) (474,540 )
Net increase (decrease) in call money and bills sold and others (3,720,809 ) 6,820,892
Net increase (decrease) in commercial papers 885,347 375,713
Net increase (decrease) in payables under securities lending transactions (125,534 ) (394,001 )
Net decrease (increase) in foreign exchanges (assets) (170,240 ) 597,580
Net increase (decrease) in foreign exchanges (liabilities) 895,169 (960,008 )
Net increase (decrease) in short-term bonds payable 164,270 191,466
Net increase (decrease) in issuance and redemption of unsubordinated bonds payable (295,231 ) (2,510,207 )
Net increase (decrease) in due to trust accounts (4,301,919 ) (2,449,496 )
Interest income (cash basis) 7,250,761 8,389,421
Interest expenses (cash basis) (4,851,903 ) (5,573,505 )
Others (435,455 ) 1,233,679
Sub-total (9,317,949 ) 336,102
Income taxes (607,135 ) (464,398 )
Refund of income taxes 80,225 134,711
Net cash provided by (used in) operating activities (9,844,860 ) 6,415

11

Mitsubishi UFJ Financial Group, Inc.

(in millions of yen) For the fiscal year ended<br>March 31, 2024 For the fiscal year ended<br>March 31, 2025
Cash flows from investing activities:
Purchases of securities (92,819,270 ) (108,125,780 )
Proceeds from sales of securities 64,100,921 55,734,137
Proceeds from redemption of securities 33,333,232 52,543,394
Payments for increase in money held in trust (1,378,121 ) (1,484,910 )
Proceeds from decrease in money held in trust 1,333,026 1,684,568
Purchases of tangible fixed assets (129,650 ) (134,196 )
Purchases of intangible fixed assets (333,157 ) (322,505 )
Proceeds from sales of tangible fixed assets 78,282 77,714
Proceeds from sales of intangible fixed assets 568 4
Proceeds from transfer of businesses 5,070 —
Payments for acquisition of subsidiaries’ equity affecting the scope of<br>consolidation (205,797 ) (161,424 )
Payments for sales of subsidiaries’ equity affecting the scope of consolidation — (1,988 )
Proceeds from sales of subsidiaries’ equity affecting the scope of consolidation 4,406 —
Others (3,092 ) 4,038
Net cash provided by (used in) investing activities 3,986,415 (186,948 )
Cash flows from financing activities:
Proceeds from subordinated borrowings 123,000 85,000
Repayments of subordinated borrowings (68,000 ) (31,000 )
Proceeds from issuance of subordinated bonds payable and bonds with warrants 992,021 674,976
Payments for redemption of subordinated bonds payable and bonds with warrants (155,290 ) (507,910 )
Proceeds from issuance of common stock to non-controlling<br>shareholders 945 4,912
Repayments to non-controlling shareholders (216 ) —
Dividends paid by MUFG (439,755 ) (532,976 )
Dividends paid by subsidiaries to non-controlling<br>shareholders (44,946 ) (43,888 )
Purchases of treasury stock (400,156 ) (418,546 )
Proceeds from sales of treasury stock 2,297 15,661
Payments for purchases of subsidiaries’ equity not affecting the scope of<br>consolidation (1,592 ) (107,344 )
Net cash provided by (used in) financing activities 8,307 (861,116 )
Effect of foreign exchange rate changes on cash and cash equivalents 2,090,467 261,988
Net increase (decrease) in cash and cash equivalents (3,759,669 ) (779,659 )
Cash and cash equivalents at the beginning of the period 113,630,172 109,875,097
Increase in cash and cash equivalents resulting from inclusion of subsidiaries in<br>consolidation 4,595 —
Cash and cash equivalents at the end of the period 109,875,097 109,095,437

12

Mitsubishi UFJ Financial Group, Inc.

Notes to the Consolidated Financial Statements

(Notes on Going-Concern Assumption)

None.

(Changes in Accounting Policies)

(Accounting Standard for Corporate Tax, Inhabitant Tax, Enterprise Tax, etc.)

Accounting Standards Board of Japan (“ASBJ”) Statement No. 27, “Accounting Standard for Corporate Tax, Inhabitant Tax, Enterprise Tax, etc.” (ASBJ, October 28, 2022), etc., have been applied from the beginning of the fiscal year ended March 31, 2025.

The cumulative effect of retroactively applying the new accounting policy to reporting periods prior to the beginning of the fiscal year ended March 31, 2025 was recognized as an adjustment to retained earnings as of the beginning of the fiscal year ended March 31, 2025.

As a result, at the beginning of the fiscal year ended March 31, 2025, retained earnings increased by ¥6,119 million, and deferred hedge decreased by ¥1,896 million, deferred tax liabilities decreased by ¥4,223 million.

(Adoption of IFRS accounting standards by a consolidated foreign subsidiary)

The consolidated financial statements of Bank of Ayudhya Public Company Limited (“Krungsri”), which are used in MUFG’s consolidated accounting process, had been previously prepared in accordance with U.S. GAAP, but from the beginning of the fiscal year ended March 31, 2025, have been prepared in accordance with IFRS.

This change has been made pursuant to MUFG’s decision to consolidate Krungsri based on a provisional closing of its accounts through the system put in place to prepare Krungsri’s consolidated financial statements in accordance with IFRS from the perspective of providing MUFG’s consolidated financial statements in a more timely manner as described in “Provisional closing of accounts of a significant consolidated subsidiary” under “Additional Information” below. The change is part of the MUFG Group’s ongoing review of infrastructure and system development in considering adoption of IFRS.

The impact of the change on MUFG’s consolidated financial statements and per share information for the previous fiscal year is immaterial.

(Additional Information)

(Information which is relevant to the understanding of the readers of the consolidated financial statements regarding the calculation of allowance for credit losses)

The process of calculating the allowance for credit losses for the Bank and its domestic consolidated subsidiaries, our principal domestic consolidated banking subsidiaries, involves various estimates such as determination of borrower credit ratings which are based on evaluation and classification of borrowers’ debt-service capacity, assessment of the value of collateral provided by borrowers, estimation of future cash flows when applying the cash flow estimation method, 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, those determination of internal credit ratings for these counterparties may be highly dependent on our assessment of the prospects of improvements in their operating results and their ability to continue as going concerns.

MUFG Bank, Ltd. (“the Bank”), our principal consolidated domestic banking subsidiary, applies the cash flow estimation method when determining allowance for credit losses for loans to substantially bankrupt borrowers and borrowers requiring special attention and caution in cases where it is possible to reasonably estimate the cash flows related to the collection of loan principal and receipt of interest payments. The estimation of such future cash flows is based on a borrower-specific assessment regarding the collectability of loans, including past collection experience, evaluation of the borrower’s restructuring plans, the financial condition and operating results of the borrower, and the economic environment of the industry to which the borrower belongs. In this regard, the estimation of future cash flows may be highly dependent on estimation of borrowers’ future performance and business sustainability. Estimates are subject to a high degree of uncertainly especially when made in connection with assessments regarding the collectability of loans to substantially bankrupt borrowers with respect to which objective information is not reasonably available.

13

Mitsubishi UFJ Financial Group, Inc.

In addition, when calculating allowance for credit losses, the Bank determines 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 Bank makes such adjustments to the loss rates calculated based on historical loss experience, taking into account future projections and other factors, especially considering the uncertain business environment arising from potential changes in the Russia-Ukraine situation and the trade policies of various countries. These adjustments are implemented made when deemed necessary, for example, by considering any additional expected loss amount not captured by the loss rates calculated based on historical loss experience. The amount of impact of these adjustments as of the end of the current fiscal year is ¥33,610 million (¥42,492 million as of March 31, 2024).

In addition, certain overseas subsidiaries which apply IFRS recognize allowance for credit losses in accordance with IFRS9 “Financial Instruments.” At each reporting date, these subsidiaries assess whether the credit risk on a financial asset has increased significantly since initial recognition, and if the credit risk has not increased significantly since initial recognition, the subsidiaries measure the allowance for credit losses for the financial asset at an amount equal to the 12-month expected credit loss. On the other hand, if the credit risk on a financial asset has increased significantly since initial recognition, the subsidiaries measure the allowance for credit losses for the financial asset at an amount equal to the lifetime expected credit loss. Expected credit losses are calculated using a quantitative model that reflects economic forecast scenarios based on macroeconomic variables. The calculation process includes determination of macroeconomic variables used in multiple economic forecast scenarios and the weightings applied to each economic forecast scenario. Expected credit losses are adjusted for qualitative factors to compensate for expected credit losses that are not reflected in a quantitative model.

Significant assumptions used in our calculation of allowance for credit losses, including those described above, are subject to uncertainty. In particular, certain counterparties’ prospects of improvements in their operating results and expectations as to their ability to continue as going concerns, and adjustments to the rate of loss calculated based on actual experience for future projections and other factors, as well as determination of the macroeconomic variables used in, and the weightings applied to, multiple economic forecast scenarios, and adjustments thereto for qualitative factors, by certain subsidiaries which apply IFRS, are based on estimation relating to the economic environment, including changes in economic conditions, commodity prices and monetary and trade policies in each country as well as geopolitical situations, with respect to which objective data are not readily available.

In particular, future developments concerning the Russia-Ukraine situation and the trade policies of various countries are subject to significant uncertainty. Accordingly, we make certain assumptions, including that the current Russia-Ukraine situation continues for the foreseeable future and that the trade policies of various countries, while being subject to policy and other changes over the short term, will generally be implemented with consideration for economic and price trends. The recorded allowance represents our best estimate made based on such assumptions and in a manner designed to ensure objectivity and rationality.

These assumptions change to reflect actual developments in the Russia-Ukraine situation, and the trade policies of various countries, and changes in the assumptions may result in a significant increase or decrease in the allowance for credit losses in the following fiscal year.

14

Mitsubishi UFJ Financial Group, Inc.

(Provisional closing of accounts of a significant consolidated subsidiary)

Krungsri, a significant consolidated subsidiary of MUFG, closes its financial accounts based on a fiscal year-end of December 31 and, previously, had been consolidated based on its consolidated financial statements as of the end of each immediately preceding reporting period. However, from the perspective of providing financial information in a more timely manner, MUFG has decided to consolidate Krungsri based on a provisional closing of accounts of Krungsri to be implemented as of MUFG’s fiscal year, effective from the fiscal year ended March 31, 2025.

Accordingly, for the fiscal year ended March 31, 2025, Krungsri’s financial results for the fifteen-month period from January 1, 2024 to March 31, 2025 have been consolidated based on a provisional closing of accounts of Krungsri, and the impact of implementation of such provisional closing of accounts has been reflected through MUFG’s consolidated statement of income.

Concerning Krungsri’s financial results for the period from January 1, 2024 to March 31, 2024, ordinary income was ¥226,537 million, ordinary profits were ¥37,575 million, and profits before income taxes were ¥37,372 million.

15

Mitsubishi UFJ Financial Group, Inc.

(Segment Information)

1. Information on net revenue, operating profit (loss), and fixed assets for each reporting segment

For the Fiscal Year Ended March 31, 2025

(in millions of yen)
Retail &<br>Digital<br>Business<br>Group Commercial<br>Banking &<br>Wealth<br>Management<br>Business<br>Group Japanese<br>Corporate &<br>Investment<br>Banking<br>Business<br>Group Global<br>Commercial<br>Banking<br>Business<br>Group Asset<br>Management<br>& Investor<br>Services<br>Business<br>Group Global<br>Corporate<br>& Investment<br>Banking<br>Business<br>Group Total of<br>Customer<br>Business Global<br>Markets<br>Business<br>Group Other Total
Net revenue 944,554 726,557 1,025,616 969,328 534,207 913,004 5,113,268 (330,602 ) 27,869 4,810,535
Operating expenses 667,525 429,701 386,610 531,225 398,712 439,935 2,853,711 318,117 72,971 3,244,801
Operating profit (loss) 277,029 296,855 639,005 438,103 135,494 473,068 2,259,557 (648,720 ) (45,102 ) 1,565,734
Fixed assets at period end 267,446 187,824 171,687 2,045 23,137 160,913 813,055 87,803 482,307 1,383,167

(Notes)

1. “Net revenue” in the above table is used in lieu of net sales generally used by Japanese non-financial companies.
2. “Net revenue” includes net interest income, trust fees, net fees and commissions, net trading profit,<br>and net other operating profit.
:--- :---
3. “Operating expenses” includes personnel expenses and premise expenses.
:--- :---
4. “Fixed assets at period end” for each reporting segment in the above table represent those related to<br>the Bank and Mitsubishi UFJ Trust and Banking Corporation. Those fixed assets and consolidation adjustments related to MUFG and its other consolidated subsidiaries, which are not allocated to reporting segments, were ¥1,732,489 million.<br>With respect to such fixed assets not allocated to reporting segments, certain related expenses are allocated to each reporting segment on a reasonable basis.
:--- :---
2. Reconciliation of the total operating profit in each of the above tables to the ordinary profit in the<br>consolidated statement of income for the corresponding fiscal year period
:--- :---
Operating profit For the fiscal year ended<br>March 31,2025
--- --- :---: --- ---
Total operating profit of reporting segments 1,565,734
Operating profit of consolidated subsidiaries excluded from reporting segments (1,288 )
Credit related expenses (302,261 )
Gains on reversal of allowance for credit losses 76,843
Gains on reversal of reserve for contingent losses included in credit costs 4,480
Gains on loans written-off 112,203
Net gains on equity securities and other securities 592,560
Equity in earnings of equity method investees 596,956
Others 24,254
Ordinary profit in the consolidated statement of income 2,669,483

16

Mitsubishi UFJ Financial Group, Inc.

(Per Share Information)

For the fiscal year endedMarch 31, 2025
Total equity per common share 1,783.36
Basic earnings per common share 160.01
Diluted earnings per common share 159.47

All values are in Japanese Yen.

(Notes)

1. The bases for the calculation of basic earnings per common share and diluted earnings per common share for the<br>periods indicated were as follows:
For the fiscal year ended March 31, 2025
--- --- --- --- :---:
Basic earnings per common share
Profits attributable to owners of parent million yen 1,862,946
Profits not attributable to common shareholders million yen —
Profits attributable to common shareholders of parent million yen 1,862,946
Average number of common shares during the period thousand shares 11,642,149
Diluted earnings per common share
Adjustment to profits attributable to owners of parent million yen (6,288)
Adjustment related to dilutive shares of consolidated subsidiaries and others million yen (6,288)
Increase in common shares thousand shares —
Description of antidilutive securities which were not included in the calculation of diluted<br>earnings per share Share subscription rights issued by equity method affiliates:<br><br>Morgan Stanley<br><br>Stock options and others<br><br>- 3 million units as of March 31, 2025
2. The bases for the calculation of total equity per common share for the period indicated were as follows:
:--- :---
As of March 31, 2025
--- --- --- --- :---:
Total equity million yen 21,728,132
Deductions from total equity: million yen 1,207,758
Subscription rights to shares million yen 11
Non-controlling interests million yen 1,207,746
Total equity attributable to common shares million yen 20,520,374
Number of common shares at period end used for the calculation of total equity per common<br>share thousand shares 11,506,517

(Subsequent Events)

None.

17

Selected Financial Information

under Japanese GAAP

For the Fiscal Year Ended March 31, 2025

Mitsubishi UFJ Financial Group, Inc. LOGO

Mitsubishi UFJ Financial Group, Inc.

[Contents]

1. Financial Results [ MUFG Consolidated ]*1[ BK and TB Combined ]*2*3*4<br><br>[ BK Consolidated ][ BK Non-consolidated ]<br><br>[ 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<br>Hedge-Accounting [ MUFG Consolidated ][ BK Consolidated ][ TB Consolidated ] 8
4. Securities [ MUFG Consolidated ]<br><br>[ BK<br>Non-consolidated ][ TB Non-consolidated ] 9
5. ROE [ MUFG Consolidated ] 12
6. Risk-Adjusted Capital Ratio [ MUFG Consolidated ][ BK Consolidated ][ TB Consolidated ]<br><br>[ BK Non-consolidated ][ TB Non-consolidated ] 13
7. Loans to Be Disclosed under the Banking Act and the Financial Reconstruction Act<br>(the “FRA”) [ MUFG Consolidated ][ BK and TB Combined including Trust Account ]<br><br>[ BK Non-consolidated ][ TB Non-consolidated ]<br><br>[ TB Non-consolidated : Trust Account ] 14
8. Progress in Disposition of Problem Assets [ BK Non-consolidated ]<br><br>[ TB Non-consolidated including Trust Account ] 20
9. Loans Classified by Type of Industry [ BK and TB Combined including Trust Accounts ]<br><br>[ BK Non-consolidated ][ TB Non-consolidated ]<br><br>[ TB Non-consolidated : Trust Accounts ] 22
10 Domestic Consumer Loans, Domestic Loans to Small/Medium-Sized Companies and Proprietors [ BK and TB Combined including Trust Accounts ]<br><br>[ BK Non-consolidated ][ TB Non-consolidated ]<br><br>[ TB Non-consolidated : Trust Account ] 26
11. Overseas Loans [ BK Consolidated excl. KS, BDI ]*5*6 27
12. Loans and Deposits [ BK and TB Combined ]<br><br>[ BK Non-consolidated ][ TB Non-consolidated ] 28
13. Domestic Deposits [ BK and TB Combined ]<br><br>[ BK Non-consolidated ][ TB Non-consolidated ] 29
14. Status of Deferred Tax Assets [ BK Non-consolidated ][ TB Non-consolidated ] 30
15. Retirement Benefits [ MUFG Consolidated ]<br><br>[ BK<br>Non-consolidated ][ TB Non-consolidated ] 32
(Reference)<br><br>1. Financial Statements [ BK Non-consolidated ][ TB Non-consolidated ] 35
(*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<br>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 fiscal year ended Increase
March 31, 2025<br>(A) March 31, 2024<br>(B) (Decrease)<br>(A) - (B)
Gross profits 4,819,311 4,732,524 86,786
Gross profits before credit costs for trust accounts 4,819,305 4,732,519 86,785
Net interest income 2,876,551 2,457,882 418,669
Trust fees 144,395 139,363 5,032
Credit costs for trust accounts (1) 5 4 1
Net fees and commissions 1,945,821 1,681,291 264,529
Net trading profits 454,258 368,172 86,086
Net other operating profits (601,716 ) 85,813 (687,530 )
Net gains (losses) on debt securities (991,466 ) (450,755 ) (540,711 )
General and administrative expenses 3,228,113 2,888,747 339,366
Amortization of goodwill 36,553 22,230 14,322
Net operating profits before credit costs for trust accounts, provision for general allowance for<br>credit losses and amortization of goodwill 1,627,744 1,866,003 (238,258 )
Net operating profits before credit costs for trust accounts and provision for general allowance<br>for credit losses 1,591,191 1,843,772 (252,580 )
Provision for general allowance for credit losses (2) — (6,723 ) 6,723
Net operating profits* 1,591,197 1,837,053 (245,855 )
Net non-recurring gains (losses) 1,078,285 290,905 787,379
Credit costs (3) (302,261 ) (592,913 ) 290,652
Losses on loan write-offs (289,683 ) (193,119 ) (96,564 )
Provision for specific allowance for credit losses — (387,362 ) 387,362
Other credit costs (12,577 ) (12,432 ) (145 )
Reversal of allowance for credit losses (4) 76,843 — 76,843
Reversal of reserve for contingent losses included in credit costs (5) 4,480 — 4,480
Gains on loans written-off (6) 112,203 101,726 10,477
Net gains (losses) on equity securities 592,560 371,274 221,285
Gains on sales of equity securities 679,000 452,125 226,875
Losses on sales of equity securities (35,457 ) (70,673 ) 35,215
Losses on write-down of equity securities (50,982 ) (10,177 ) (40,804 )
Equity in earnings of equity method investees 596,956 531,803 65,152
Other non-recurring gains (losses) (2,496 ) (120,985 ) 118,488
Ordinary profits 2,669,483 2,127,958 541,524
Net extraordinary gains (losses) (118,848 ) (77,854 ) (40,994 )
Net gains (losses) on disposition of fixed assets 7,612 4,594 3,018
Losses on impairment of fixed assets (141,542 ) (31,108 ) (110,433 )
Gains on sales of shares of affiliates 47,759 — 47,759
Losses on sales of shares of subsidiaries (3,023 ) (93 ) (2,929 )
Losses on step acquisitions (5,854 ) — (5,854 )
Net gains (losses) on change in equity (23,565 ) (50,847 ) 27,281
Profits before income taxes 2,550,634 2,050,104 500,529
Income taxes-current 382,695 411,857 (29,162 )
Income taxes-deferred 226,461 66,485 159,976
Total taxes 609,156 478,342 130,813
Profits 1,941,477 1,571,761 369,716
Profits attributable to non-controlling interests 78,530 80,979 (2,448 )
Profits attributable to owners of parent 1,862,946 1,490,781 372,165
Note:
* Net operating profits = Banking subsidiaries’ net operating<br>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 -<br>Inter-company transactions
(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6) (108,728 ) (497,907 ) 389,178
Number of consolidated subsidiaries 334 253 81
Number of affiliated companies accounted for under the equity method 54 51 3

1

Mitsubishi UFJ Financial Group, Inc.

BK and TB Combined

(in millions of yen)
For the fiscal year ended Increase
March 31, 2025<br>(A) March 31, 2024<br>(B) (Decrease)<br>(A) - (B)
Gross profits 2,152,855 2,565,957 (413,102 )
Gross profits before credit costs for trust accounts 2,152,849 2,565,953 (413,103 )
Domestic gross profits 1,414,555 1,179,786 234,768
Net interest income 950,962 772,653 178,309
Trust fees 126,186 120,757 5,428
Credit costs for trust accounts (1) 5 4 1
Net fees and commissions 408,001 375,410 32,590
Net trading profits (11,232 ) (6,719 ) (4,513 )
Net other operating profits (59,361 ) (82,315 ) 22,953
Net gains (losses) on debt securities (162,846 ) (104,859 ) (57,987 )
Non-domestic gross profits 738,299 1,386,170 (647,871 )
Net interest income 805,926 844,261 (38,335 )
Net fees and commissions 419,822 389,191 30,631
Net trading profits 60,855 102,432 (41,577 )
Net other operating profits (548,304 ) 50,285 (598,590 )
Net gains (losses) on debt securities (825,508 ) (345,043 ) (480,465 )
General and administrative expenses 1,561,017 1,520,862 40,154
Personnel expenses 656,054 641,143 14,911
Non-personnel expenses 831,714 809,960 21,753
Taxes 73,248 69,759 3,489
Net operating profits before credit costs for trust accounts and provision for general allowance<br>for credit losses 591,832 1,045,090 (453,258 )
Provision for general allowance for credit losses (2) — 5,767 (5,767 )
Net operating profits 591,837 1,050,862 (459,024 )
Net non-recurring gains (losses) 840,637 29,492 811,145
Credit costs (3) (21,368 ) (283,016 ) 261,647
Reversal of allowance for credit losses (4) 237,127 85 237,041
Reversal of reserve for contingent losses included in credit costs (5) 4,747 — 4,747
Gains on loans written-off (6) 17,129 26,723 (9,593 )
Net gains (losses) on equity securities 570,073 363,467 206,606
Gains on sales of equity securities 654,204 442,142 212,062
Losses on sales of equity securities (33,038 ) (71,983 ) 38,944
Losses on write-down of equity securities (51,092 ) (6,691 ) (44,401 )
Other non-recurring gains (losses) 32,927 (77,768 ) 110,696
Ordinary profits 1,432,475 1,080,354 352,120
Net extraordinary gains (losses) 44,002 (10,463 ) 54,465
Net gains (losses) on disposition of fixed assets 5,699 657 5,042
Losses on impairment of fixed assets (27,179 ) (20,405 ) (6,773 )
Gains on sales of shares of affiliates 67,142 — 67,142
Gains on extinguishment of tie-in shares 219 4,319 (4,100 )
Losses on sales of shares of subsidiaries (1,879 ) — (1,879 )
Gains on sales of shares of subsidiaries — 4,863 (4,863 )
Income before income taxes 1,476,477 1,069,891 406,586
Income taxes-current 223,371 257,985 (34,613 )
Income taxes-deferred 139,691 (50,158 ) 189,849
Total taxes 363,062 207,826 155,236
Net income 1,113,414 862,064 251,350
(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6) 237,642 (250,434 ) 488,076
Credit costs for trust accounts 5 4 1
Provision for general allowance for credit losses 43,429 5,853 37,576
Provision for special allowance for credit losses 183,670 (237,335 ) 421,006
Allowance for credit to specific foreign borrowers 10,026 10,752 (726 )
Losses on loans write-offs (11,625 ) (30,782 ) 19,156
Provision for contingent losses included in credit costs 4,747 (12,763 ) 17,511
Gains on loans written-off 17,129 26,723 (9,593 )
Losses on sales of other loans, etc. (9,742 ) (12,887 ) 3,144
Net operating profits before credit costs for trust accounts and provision for general allowance<br>for credit losses, excluding net gains (losses) on debt securities 1,580,186 1,494,992 85,194
Net operating profits before credit costs for trust accounts and provision for general allowance<br>for credit losses, excluding net gains (losses) on debt securities and investment trusts cancellation 1,491,177 1,396,187 94,990

2

Mitsubishi UFJ Financial Group, Inc.

BK Consolidated

(in millions of yen)
For the fiscal year ended Increase
March 31, 2025<br>(A) March 31, 2024<br>(B) (Decrease)<br>(A) - (B)
Gross profits 3,363,142 3,360,598 2,544
Net interest income 2,528,676 2,145,049 383,627
Net fees and commissions 1,038,161 914,290 123,870
Net trading profits 164,215 192,345 (28,130 )
Net other operating profits (367,910 ) 108,912 (476,823 )
Net gains (losses) on debt securities (843,312 ) (375,997 ) (467,314 )
General and administrative expenses 2,132,909 1,895,166 237,743
Amortization of goodwill 15,487 8,479 7,008
Net operating profits before provision for general allowance for credit losses and amortization of<br>goodwill 1,245,721 1,473,911 (228,190 )
Net operating profits before provision for general allowance for credit losses 1,230,233 1,465,432 (235,198 )
Provision for general allowance for credit losses (1) — 1,284 (1,284 )
Net operating profits* 1,230,233 1,466,716 (236,483 )
Net non-recurring gains (losses) 526,278 (116,439 ) 642,717
Credit costs (2) (194,205 ) (478,742 ) 284,536
Losses on loan write-offs (181,624 ) (96,866 ) (84,757 )
Provision for specific allowance for credit losses — (369,443 ) 369,443
Other credit costs (12,580 ) (12,432 ) (148 )
Reversal of allowance for credit losses (3) 107,208 — 107,208
Reversal of reserve for contingent losses included in credit costs (4) 4,260 — 4,260
Gains on loans written-off (5) 85,399 75,872 9,527
Net gains (losses) on equity securities 440,199 285,362 154,837
Gains on sales of equity securities 521,536 363,056 158,480
Losses on sales of equity securities (32,800 ) (70,881 ) 38,080
Losses on write-down of equity securities (48,536 ) (6,812 ) (41,723 )
Equity in earnings of equity method investees 50,465 39,203 11,262
Other non-recurring gains (losses) 32,949 (38,135 ) 71,084
Ordinary profits 1,756,511 1,350,277 406,234
Net extraordinary gains (losses) (11,142 ) (21,686 ) 10,544
Net gains (losses) on disposition of fixed assets 5,991 2,373 3,617
Losses on impairment of fixed assets (59,055 ) (24,059 ) (34,995 )
Gains on sales of shares of affiliates 47,759 — 47,759
Losses on step acquisitions (5,854 ) — (5,854 )
Profits before income taxes 1,745,369 1,328,591 416,778
Income taxes-current 270,983 328,101 (57,118 )
Income taxes-deferred 197,309 26,974 170,334
Total taxes 468,292 355,075 113,216
Profits 1,277,077 973,515 303,561
Profits attributable to non-controlling interests 45,197 28,787 16,409
Profits attributable to owners of parent 1,231,880 944,728 287,151
Note:
* Net operating profits = Net operating profits of BK + Other consolidated<br>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<br>transactions
(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5) 2,663 (401,585 ) 404,248
Number of consolidated subsidiaries 117 113 4
Number of affiliated companies accounted for under the equity method 46 44 2

3

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(in millions of yen)
For the fiscal year ended Increase
March 31, 2025<br>(A) March 31, 2024<br>(B) (Decrease)<br>(A) - (B)
Gross profits 1,876,884 2,283,668 (406,784 )
Domestic gross profits 1,065,366 896,600 168,766
Net interest income 837,775 717,094 120,681
Net fees and commissions 289,903 268,500 21,402
Net trading profits 11,191 2,917 8,274
Net other operating profits (73,503 ) (91,911 ) 18,407
Net gains (losses) on debt securities (127,658 ) (91,668 ) (35,990 )
Non-domestic gross profits 811,517 1,387,067 (575,550 )
Net interest income 742,515 778,723 (36,207 )
Net fees and commissions 418,593 387,188 31,404
Net trading profits 86,549 106,654 (20,104 )
Net other operating profits (436,141 ) 114,500 (550,642 )
Net gains (losses) on debt securities (713,624 ) (284,229 ) (429,394 )
General and administrative expenses 1,355,137 1,309,067 46,070
Personnel expenses 591,664 571,241 20,422
Non-personnel expenses 698,337 676,244 22,092
Amortization of goodwill 3,510 3,830 (320 )
Taxes 65,134 61,580 3,554
Net operating profits before provision for general allowance for credit losses and amortization of<br>goodwill 525,257 978,432 (453,174 )
Net operating profits before provision for general allowance for credit losses 521,746 974,601 (452,854 )
Provision for general allowance for credit losses (1) — 5,767 (5,767 )
Net operating profits 521,746 980,368 (458,622 )
Net non-recurring gains (losses) 685,763 19,402 666,361
Credit costs (2) (21,369 ) (282,760 ) 261,390
Reversal of allowance for credit losses (3) 237,094 — 237,094
Reversal of reserve for contingent losses included in credit costs (4) 4,527 — 4,527
Gains on loans written-off (5) 17,112 26,722 (9,609 )
Net gains (losses) on equity securities 434,630 286,136 148,493
Gains on sales of equity securities 512,427 360,191 152,236
Losses on sales of equity securities (30,314 ) (69,862 ) 39,547
Losses on write-down of equity securities (47,482 ) (4,191 ) (43,290 )
Other non-recurring gains (losses) 13,768 (10,696 ) 24,465
Ordinary profits 1,207,510 999,771 207,739
Net extraordinary gains (losses) 69,114 (5,010 ) 74,124
Net gains (losses) on disposition of fixed assets 4,365 303 4,061
Losses on impairment of fixed assets (2,612 ) (14,496 ) 11,884
Gains on sales of shares of affiliates 67,142 — 67,142
Gains on extinguishment of tie-in shares 219 4,319 (4,100 )
Gains on sales of shares of subsidiaries — 4,863 (4,863 )
Income before income taxes 1,276,624 994,760 281,864
Income taxes-current 183,469 244,385 (60,916 )
Income taxes-deferred 133,977 (53,885 ) 187,862
Total taxes 317,446 190,499 126,946
Net income 959,178 804,260 154,917
(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5) 237,364 (250,270 ) 487,635
Provision for general allowance for credit losses 43,401 5,767 37,633
Provision for special allowance for credit losses 183,666 (237,335 ) 421,001
Allowance for credit to specific foreign borrowers 10,026 10,752 (726 )
Losses on loans write-off (11,625 ) (30,782 ) 19,156
Provision for contingent losses included in credit costs 4,527 (12,508 ) 17,036
Gains on loans written-off 17,112 26,722 (9,609 )
Losses on sales of other loans, etc. (9,744 ) (12,887 ) 3,143
Net operating profits before provision for general allowance for credit<br><br>losses, excluding net gains (losses) on debt securities 1,363,029 1,350,498 12,530
Net operating profits before provision for general allowance for credit losses, excluding net gains<br>(losses) on debt securities and investment trusts cancellation 1,310,261 1,333,729 (23,467 )

4

Mitsubishi UFJ Financial Group, Inc.

TB Consolidated

(in millions of yen)
For the fiscal year ended Increase
March 31, 2025<br>(A) March 31, 2024<br>(B) (Decrease)<br>(A) - (B)
Gross profits 565,406 591,268 (25,861 )
Gross profits before credit costs for trust accounts 565,401 591,264 (25,863 )
Trust fees 144,723 139,740 4,983
Trust fees before credit costs for trust accounts 144,717 139,736 4,981
Money trusts fees (Jointly operated designated money trusts before credit costs for trust<br>account) 11,368 16,537 (5,168 )
Other trust fees 133,349 123,198 10,150
Credit costs for trust accounts (1) 5 4 1
Net interest income 146,287 130,455 15,832
Net fees and commissions 403,725 367,843 35,881
Net trading profits (45,805 ) (11,307 ) (34,498 )
Net other operating profits (83,524 ) (35,463 ) (48,061 )
Net gains (losses) on debt securities (147,072 ) (74,029 ) (73,043 )
General and administrative expenses 507,788 459,133 48,655
Amortization of goodwill 21,169 13,747 7,422
Net operating profits before credit costs for trust accounts, provision for general allowance for<br>credit losses and amortization of goodwill 78,781 145,877 (67,095 )
Net operating profits before credit costs for trust accounts and provision for general allowance<br>for credit losses 57,612 132,130 (74,518 )
Provision for general allowance for credit losses (2) — — —
Net operating profits* 57,618 132,134 (74,516 )
Net non-recurring gains (losses) 162,013 8,362 153,650
Credit costs (3) (1 ) (10 ) 8
Losses on loan write-offs (5 ) (10 ) 5
Provision for specific allowance for credit losses — — —
Other credit costs 3 — 3
Reversal of allowance for credit losses (4) 169 75 94
Reversal of reserve for contingent losses included in credit costs (5) 219 — 219
Gains on loans written-off (6) 87 6 80
Net gains (losses) on equity securities 135,539 77,666 57,872
Gains on sales of equity securities 141,883 81,967 59,916
Losses on sales of equity securities (2,723 ) (2,120 ) (603 )
Losses on write-down of equity securities (3,620 ) (2,180 ) (1,440 )
Equity in earnings of equity method investees 1,297 2,676 (1,379 )
Other non-recurring gains (losses) 24,701 (72,051 ) 96,753
Ordinary profits 219,631 140,496 79,134
Net extraordinary gains (losses) (49,112 ) (3,796 ) (45,316 )
Net gains (losses) on disposition of fixed assets 3,135 2,214 920
Losses on impairment of fixed assets (49,327 ) (6,033 ) (43,293 )
Losses on sales of shares of subsidiaries (3,023 ) (93 ) (2,929 )
Profits before income taxes 170,518 136,700 33,817
Income taxes-current 59,425 37,459 21,965
Income taxes-deferred 1,855 1,712 142
Total taxes 61,281 39,172 22,108
Profits 109,237 97,527 11,709
Profits attributable to non-controlling interests (3,870 ) 571 (4,441 )
Profits attributable to owners of parent 113,107 96,956 16,151
Note:
* Net operating profits = Net operating profits of TB + Other<br>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<br>transactions
(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6) 481 76 404
Number of consolidated subsidiaries 185 109 76
Number of affiliated companies accounted for under the equity method 6 5 1
TB Consolidated(combined operating results of TB and<br>transferred entities to MUAH in the United States)<br><br>TB transferred the interests in its subsidiaries in the United States to MUAH in United States which are<br>owned by BK and MUFG.<br><br>The combined operating results of TB and transferred entities<br>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<br>for credit losses 60,198 134,546 (74,348 )
Profits attributable to owners of parent 111,075 98,679 12,395
Number of the entities transferred to MUAH 4 4 —

5

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(in millions of yen)
For the fiscal year ended Increase
March 31, 2025<br>(A) March 31, 2024<br>(B) (Decrease)<br><br>(A) - (B)
Gross profits 275,970 282,289 (6,318 )
Gross profits before credit costs for trust accounts 275,965 282,284 (6,319 )
Domestic gross profits 349,188 283,186 66,002
Trust fees 126,186 120,757 5,428
Trust fees before credit costs for trust accounts 126,180 120,753 5,427
Money trusts fees (Jointly operated designated money trusts before credit costs for trust<br>account) 11,368 16,537 (5,168 )
Other trust fees 114,811 104,216 10,595
Credit costs for trust accounts (1) 5 4 1
Net interest income 113,186 55,558 57,627
Net fees and commissions 118,098 106,909 11,188
Net trading profits (22,424 ) (9,637 ) (12,787 )
Net other operating profits 14,142 9,596 4,545
Net gains (losses) on debt securities (35,188 ) (13,191 ) (21,997 )
Non-domestic gross profits (73,217 ) (896 ) (72,320 )
Net interest income 63,410 65,538 (2,127 )
Net fees and commissions 1,229 2,002 (772 )
Net trading profits (25,694 ) (4,222 ) (21,472 )
Net other operating profits (112,162 ) (64,214 ) (47,948 )
Net gains (losses) on debt securities (111,884 ) (60,813 ) (51,070 )
General and administrative expenses 205,879 211,795 (5,915 )
Personnel expenses 64,389 69,901 (5,511 )
Non-personnel expenses 133,376 133,715 (338 )
Taxes 8,113 8,178 (65 )
Net operating profits before credit costs for trust accounts and provision for general allowance<br>for credit losses 70,085 70,489 (403 )
Provision for general allowance for credit losses (2) — — —
Net operating profits 70,091 70,493 (402 )
Net non-recurring gains (losses) 154,874 10,089 144,784
Credit costs (3) 1 (255 ) 256
Reversal of allowance for credit losses (4) 33 85 (52 )
Reversal of reserve for contingent losses included in credit costs (5) 219 — 219
Gains on loans written-off (6) 16 1 15
Net gains (losses) on equity securities 135,443 77,330 58,112
Gains on sales of equity securities 141,777 81,950 59,826
Losses on sales of equity securities (2,723 ) (2,120 ) (602 )
Losses on write-down of equity securities (3,610 ) (2,499 ) (1,110 )
Other non-recurring gains (losses) 19,159 (67,071 ) 86,231
Ordinary profits 224,965 80,583 144,381
Net extraordinary gains (losses) (25,112 ) (5,453 ) (19,659 )
Net gains (losses) on disposition of fixed assets 1,334 354 980
Losses on impairment of fixed assets (24,567 ) (5,908 ) (18,658 )
Losses on sales of shares of subsidiaries (1,879 ) — (1,879 )
Income before income taxes 199,852 75,130 124,722
Income taxes-current 39,902 13,599 26,302
Income taxes-deferred 5,713 3,727 1,986
Total taxes 45,616 17,326 28,289
Net income 154,236 57,803 96,432
(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6) 277 (164 ) 441
Credit costs for trust accounts 5 4 1
Provision for general allowance for credit losses 28 85 (56 )
Provision for special allowance for credit losses 4 0 4
Allowance for credit to specific foreign borrowers — — —
Losses on loans write-offs — (0 ) 0
Provision for contingent losses included in credit costs 219 (255 ) 475
Gains on loans written-off 16 1 15
Losses on sales of other loans, etc. 1 — 1
Net operating profits before credit costs for trust accounts and provision for general allowance<br>for credit losses, excluding net gains (losses) on debt securities 217,157 144,493 72,664
Net operating profits before credit costs for trust accounts and provision for general allowance<br>for credit losses, excluding net gains (losses) on debt securities and investment trusts cancellation 180,915 62,458 118,457

6

Mitsubishi UFJ Financial Group, Inc.

2. Average Interest Rate Spread

BK Non-consolidated

(percentage per annum)
(Domestic business segment) For the fiscal year<br>ended<br>March 31, 2025<br>(A) Increase<br>(Decrease)<br>(A) - (B) For the fiscal year<br>ended<br>March 31, 2024<br>(B)
Total average interest rate on interest-earning assets (a) 0.53 0.01 0.52
Average interest rate on loans and bills discounted (b) 0.86 0.05 0.81
Average interest rate on securities 0.61 0.08 0.52
Total average interest rate on interest-bearing liabilities (c)
<including general and administrative expenses> 0.40 0.08 0.32
Average interest rate on deposits and NCD (d) 0.05 0.05 0.00
Average interest rate on other liabilities 0.31 0.13 0.17
Overall interest rate spread (a)-(c) 0.12 (0.06 ) 0.19
Interest rate spread (b)-(d) 0.81 0.00 0.81
(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted (e) 0.94 0.11 0.83
Interest rate spread (e)-(d) 0.88 0.05 0.83
TB Non-consolidated
(percentage per annum)
(Domestic business segment) For the fiscal year<br>ended<br>March 31, 2025<br>(A) Increase<br>(Decrease)<br>(A) - (B) For the fiscal year<br>ended<br>March 31, 2024<br>(B)
Total average interest rate on interest-earning assets (a) 0.91 0.21 0.69
Average interest rate on loans and bills discounted (b) 0.77 0.20 0.56
Average interest rate on securities 3.64 0.97 2.66
Total average interest rate on interest-bearing liabilities (c) 0.30 0.10 0.20
Average interest rate on deposits and NCD (d) 0.13 0.10 0.02
Overall interest rate spread (a)-(c) 0.60 0.11 0.49
Interest rate spread (b)-(d) 0.63 0.09 0.54
(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted (e) 0.80 0.08 0.72
Interest rate spread (e)-(d) 0.67 (0.02 ) 0.69
(Reference)
BK and TB Combined
(percentage per annum)
(Domestic business segment) For the fiscal year<br>ended<br>March 31, 2025<br>(A) Increase<br>(Decrease)<br>(A) - (B) For the fiscal year<br>ended<br>March 31, 2024<br>(B)
Average interest rate on loans and bills discounted (a) 0.86 0.06 0.80
Average interest rate on deposits and NCD (b) 0.06 0.06 0.00
Interest rate spread (a)-(b) 0.80 0.00 0.80
(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted (c) 0.94 0.11 0.83
Interest rate spread (c)-(b) 0.87 0.04 0.82

7

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 March 31, 2025
within 1 year 1 year to 5 years over 5 years Total
Receive-fix/pay-floater 4,256.2 6,960.5 7,013.2 18,230.0
Receive-floater/pay-fix 431.9 6,547.3 2,806.4 9,785.7
Receive-floater/pay-floater — — — —
Receive-fix/pay-fix — — — —
Total 4,688.1 13,507.8 9,819.7 28,015.7
BK Consolidated
(in billions of yen)
As of March 31, 2025
within 1 year 1 year to 5 years over 5 years Total
Receive-fix/pay-floater 3,887.8 6,159.4 6,860.2 16,907.5
Receive-floater/pay-fix 115.3 4,354.5 1,622.1 6,091.9
Receive-floater/pay-floater — — — —
Receive-fix/pay-fix — — — —
Total 4,003.1 10,514.0 8,482.3 22,999.4
TB Consolidated
(in billions of yen)
As of March 31, 2025
within 1 year 1 year to 5 years over 5 years Total
Receive-fix/pay-floater 244.4 716.8 118.1 1,079.3
Receive-floater/pay-fix 232.6 2,079.2 1,134.1 3,445.9
Receive-floater/pay-floater — — — —
Receive-fix/pay-fix — — — —
Total 477.0 2,796.0 1,252.2 4,525.3

8

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 March 31, 2025 As of March 31, 2024
Amount on<br>consolidated<br>balance sheet Unrealized<br>gains (losses) Gains Losses Amount on<br>consolidated<br>balance sheet Unrealized<br>gains (losses) Gains Losses
Debt securities being held to maturity 23,272,183 (625,190 ) 15,276 640,467 24,843,961 (286,447 ) 13,719 300,167
Domestic bonds 17,115,009 (491,977 ) 3 491,980 17,310,411 (107,223 ) 6,886 114,109
Government bonds 13,300,923 (369,059 ) — 369,059 14,643,055 (90,759 ) 4,592 95,351
Municipal bonds 2,545,626 (93,140 ) — 93,140 1,999,181 (14,279 ) 2,047 16,327
Corporate bonds 1,268,459 (29,777 ) 3 29,781 668,174 (2,184 ) 245 2,430
Other 6,157,174 (133,213 ) 15,272 148,486 7,533,549 (179,224 ) 6,832 186,057
Foreign bonds 4,690,276 (137,239 ) 10,825 148,065 4,952,083 (176,384 ) 3,151 179,536
Other 1,466,897 4,026 4,446 420 2,581,465 (2,839 ) 3,681 6,520
(in millions of yen)
As of March 31, 2025 As of March 31, 2024
Amount on<br>consolidated<br>balance sheet Unrealized<br>gains (losses) Gains Losses Amount on<br>consolidated<br>balance sheet Unrealized<br>gains (losses) Gains Losses
Available-for-sale<br>securities 61,321,796 2,203,663 2,898,215 694,551 61,736,341 2,725,841 4,178,443 1,452,602
Domestic equity securities 3,540,457 2,458,566 2,468,724 10,158 5,101,691 3,758,884 3,765,175 6,291
Domestic bonds 23,123,161 (249,533 ) 4,371 253,905 25,074,644 (129,949 ) 9,488 139,438
Government bonds 21,181,296 (155,513 ) 2,327 157,840 21,365,241 (70,791 ) 3,631 74,423
Municipal bonds 309,997 (9,776 ) 2 9,779 1,045,990 (9,573 ) 226 9,799
Corporate bonds 1,631,867 (84,243 ) 2,041 86,285 2,663,412 (49,584 ) 5,630 55,215
Other 34,658,178 (5,368 ) 425,118 430,487 31,560,005 (903,093 ) 403,779 1,306,872
Foreign equity securities 662,949 36,272 54,295 18,022 709,565 12,752 47,829 35,076
Foreign bonds 24,182,709 (113,323 ) 152,561 265,884 20,990,483 (997,307 ) 69,045 1,066,353
Other 9,812,519 71,682 218,262 146,580 9,859,956 81,461 286,904 205,442

Redemption schedule of Available-for-sale securities with maturities and debt securities being held to maturity

(in millions of yen)
As of March 31, 2025 As of March 31, 2024
within<br>1 year 1 year to<br>5 years 5 years to<br>10 years over<br>10 years within<br>1 year 1 year to<br>5 years 5 years to<br>10 years over<br>10 years
Domestic bonds 18,500,074 9,875,244 8,772,124 3,090,727 23,237,264 11,328,117 6,018,587 1,801,087
Government bonds 18,007,133 7,559,511 6,953,734 1,961,839 22,398,893 8,721,368 4,279,478 608,555
Municipal bonds 215,259 1,165,338 1,475,025 — 343,811 1,317,183 1,384,177 —
Corporate bonds 277,680 1,150,393 343,363 1,128,887 494,559 1,289,564 354,931 1,192,532
Other 5,613,333 11,742,041 5,692,392 13,611,167 4,976,257 11,792,107 5,810,612 12,124,762
Foreign equity securities 1,366 20,285 — — 12,113 20,079 — —
Foreign bonds 4,547,585 8,729,761 4,854,426 10,913,751 3,741,605 8,640,847 3,955,393 9,604,622
Other 1,064,380 2,991,994 837,966 2,697,415 1,222,537 3,131,181 1,855,218 2,520,139
Total 24,113,407 21,617,285 14,464,517 16,701,894 28,213,521 23,120,225 11,829,199 13,925,850

9

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 March 31, 2025 As of March 31, 2024
Amount on<br>balance sheet Unrealized<br>gains (losses) Gains Losses Amount on<br>balance sheet Unrealized<br>gains (losses) Gains Losses
Debt securities being held to maturity 21,295,315 (607,764 ) 10,777 618,541 22,209,137 (260,977 ) 10,038 271,015
Stocks of subsidiaries and affiliates 684,864 464,454 471,540 7,086 685,292 563,814 572,794 8,979
(in millions of yen)
As of March 31, 2025 As of March 31, 2024
Amount on<br>balance sheet Unrealized<br>gains (losses) Gains Losses Amount on<br>balance sheet Unrealized<br>gains (losses) Gains Losses
Available-for-sale<br>securities 45,173,480 2,005,377 2,300,444 295,066 45,454,390 2,491,997 3,340,687 848,693
Domestic equity securities 3,012,332 2,044,936 2,053,034 8,097 4,310,320 3,134,194 3,138,838 4,643
Domestic bonds 20,849,312 (138,304 ) 3,926 142,230 23,310,014 (71,482 ) 7,994 79,477
Other 21,311,835 98,744 243,483 144,738 17,834,055 (570,714 ) 193,854 764,571
Foreign equity securities 605,665 17,076 30,177 13,101 669,182 1,235 36,309 35,076
Foreign bonds 13,651,795 88,819 110,304 21,485 10,234,364 (554,058 ) 43,155 597,214
Other 7,054,373 (7,151 ) 103,000 110,152 6,930,507 (17,891 ) 114,390 132,281
Redemption schedule of Available-for-sale securities with maturities and debt securities being held to maturity
(in millions of yen)
As of March 31, 2025 As of March 31, 2024
within<br>1 year 1 year to<br>5 years 5 years to<br>10 years over<br>10 years within<br>1 year 1 year to<br>5 years 5 years to<br>10 years over<br>10 years
Domestic bonds 18,407,253 9,375,181 7,204,520 2,741,856 23,194,822 10,452,409 5,689,499 1,283,696
Government bonds 17,915,211 7,060,351 5,390,211 1,715,335 22,382,849 8,019,918 4,045,541 207,081
Municipal bonds 215,259 1,165,328 1,475,025 — 342,305 1,218,778 1,291,205 —
Corporate bonds 276,781 1,149,501 339,283 1,026,521 469,666 1,213,712 352,752 1,076,614
Other 3,733,273 6,482,656 2,494,264 10,189,203 3,543,953 6,204,463 2,326,644 8,099,827
Foreign equity securities 1,366 20,285 — — 12,113 20,079 — —
Foreign bonds 3,186,009 3,714,661 2,261,660 8,799,263 2,695,045 3,350,904 1,869,018 6,839,540
Other 545,896 2,747,709 232,603 1,389,940 836,793 2,833,480 457,625 1,260,286
Total 22,140,526 15,857,837 9,698,784 12,931,060 26,738,775 16,656,873 8,016,143 9,383,523

10

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

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

Fair Value Information on Securities

(in millions of yen)
As of March 31, 2025 As of March 31, 2024
Amount on<br>balance sheet Unrealized<br>gains (losses) Gains Losses Amount on<br>balance sheet Unrealized<br>gains (losses) Gains Losses
Debt securities being held to maturity 1,976,868 (17,426 ) 4,499 21,925 2,634,823 (25,470 ) 3,681 29,151
Stocks of subsidiaries and affiliates 19,189 (1,368 ) — 1,368 15,136 (1,477 ) — 1,477
(in millions of yen)
As of March 31, 2025 As of March 31, 2024
Amount on<br>balance sheet Unrealized<br>gains (losses) Gains Losses Amount on<br>balance sheet Unrealized<br>gains (losses) Gains Losses
Available-for-sale<br>securities 11,541,216 251,081 552,833 301,751 12,453,511 348,078 806,876 458,797
Domestic equity securities 588,732 413,329 415,255 1,925 858,572 619,081 619,850 769
Domestic bonds 2,181,927 (111,341 ) 444 111,785 1,746,579 (58,581 ) 1,493 60,074
Other 8,770,556 (50,907 ) 137,133 188,040 9,848,360 (212,421 ) 185,532 397,953
Foreign equity securities 130 81 81 — 126 77 77 —
Foreign bonds 7,018,941 (123,179 ) 28,749 151,929 7,819,817 (306,146 ) 20,037 326,183
Other 1,751,484 72,191 108,302 36,110 2,028,416 93,647 165,417 71,769

Redemption schedule of Available-for-sale securities with maturities and debt securities being held to maturity

(in millions of yen)
As of March 31, 2025 As of March 31, 2024
within<br>1 year 1 year to<br>5 years 5 years to<br>10 years over<br>10 years within<br>1 year 1 year to<br>5 years 5 years to<br>10 years over<br>10 years
Domestic bonds 899 500,062 1,567,603 348,870 26,386 873,712 329,088 517,391
Government bonds — 499,160 1,563,523 246,504 — 699,455 233,937 401,473
Municipal bonds — 10 — — 1,505 98,405 92,972 —
Corporate bonds 899 892 4,080 102,366 24,880 75,851 2,179 115,917
Other 386,183 3,080,461 2,327,090 3,400,230 248,926 3,702,030 2,851,138 4,019,724
Foreign equity securities — — — — — — — —
Foreign bonds 297,586 2,854,717 2,268,804 3,339,190 242,784 3,445,064 2,767,252 3,999,539
Other 88,596 225,744 58,286 61,039 6,142 256,966 83,886 20,184
Total 387,082 3,580,524 3,894,694 3,749,101 275,312 4,575,742 3,180,227 4,537,116

11

Mitsubishi UFJ Financial Group, Inc.

5. ROE

MUFG Consolidated

(%)
For the fiscal year<br>ended<br>March 31, 2025<br>(A) Increase<br>(Decrease)<br>(A) - (B) For the fiscal year<br>ended<br>March 31, 2024<br>(B)
ROE (MUFG basis) *1 9.90 1.31 8.59
ROE (JPX basis) *2 9.29 1.19 8.10

Note:

*1 ROE (MUFG basis) is computed as follows:
Profits attributable to owners of parent × 100
:---: --- --- --- ---
{(Total shareholders’ equity at the beginning of the period + Foreign currency translation adjustments at the<br>beginning of the period) + (Total shareholders’ equity at the end of the period + Foreign currency translation adjustments at the end of the period)} / 2
*2 Japan Exchange Group
:--- :---

12

Mitsubishi UFJ Financial Group, Inc.

6. Risk-Adjusted Capital Ratio

MUFG Consolidated

(in billions of yen)
As of<br>March 31, 2025<br>Preliminary (A) Increase<br>(Decrease)<br>(A) - (B) As of<br>March 31, 2024<br>(B) As of<br>September 30, 2024
(1) Total capital ratio (4)/(7) 18.83 % 1.01 % 17.82 % 18.94 %
(2) Tier 1 capital ratio (5)/(7) 16.65 % 0.92 % 15.72 % 16.74 %
(3) Common Equity Tier 1 capital ratio (6)/(7) 14.18 % 0.65 % 13.53 % 14.35 %
(4) Total capital 20,145.0 327.2 19,817.8 20,643.5
(5) Tier 1 capital 17,804.8 325.1 17,479.7 18,240.7
(6) Common Equity Tier 1 capital 15,169.2 127.9 15,041.3 15,635.9
(7) Risk weighted assets 106,930.4 (4,229.6 ) 111,160.1 108,956.8
(8) Required Capital (7)×8% 8,554.4 (338.3 ) 8,892.8 8,716.5
BK Consolidated
(in billions of yen)
As of<br>March 31, 2025<br>Preliminary (A) Increase<br>(Decrease)<br>(A) - (B) As of<br>March 31, 2024<br>(B) As of<br>September 30, 2024
(1) Total capital ratio (4)/(7) 19.63 % 1.51 % 18.11 % 19.69 %
(2) Tier 1 capital ratio (5)/(7) 17.68 % 1.57 % 16.11 % 17.68 %
(3) Common Equity Tier 1 capital ratio (6)/(7) 15.10 % 1.29 % 13.80 % 15.15 %
(4) Total capital 16,477.6 562.5 15,915.0 16,828.2
(5) Tier 1 capital 14,843.2 689.5 14,153.6 15,106.7
(6) Common Equity Tier 1 capital 12,675.1 548.7 12,126.4 12,950.1
(7) Risk weighted assets 83,929.4 (3,903.6 ) 87,833.0 85,444.5
(8) Required Capital (7)×8% 6,714.3 (312.2 ) 7,026.6 6,835.5
TB Consolidated
(in billions of yen)
As of<br>March 31, 2025<br>Preliminary (A) Increase<br>(Decrease)<br>(A) - (B) As of<br>March 31, 2024<br>(B) As of<br>September 30, 2024
(1) Total capital ratio (4)/(7) 19.96 % (0.45 )% 20.42 % 21.02 %
(2) Tier 1 capital ratio (5)/(7) 16.41 % (1.41 )% 17.83 % 17.68 %
(3) Common Equity Tier 1 capital ratio (6)/(7) 13.56 % (2.00 )% 15.56 % 14.84 %
(4) Total capital 1,941.6 (180.0 ) 2,121.6 1,991.4
(5) Tier 1 capital 1,596.3 (255.7 ) 1,852.1 1,675.4
(6) Common Equity Tier 1 capital 1,318.7 (297.7 ) 1,616.4 1,406.0
(7) Risk weighted assets 9,724.4 (662.9 ) 10,387.4 9,472.3
(8) Required Capital (7)×8% 777.9 (53.0 ) 830.9 757.7
BK Non-consolidated
(in billions of yen)
As of<br>March 31, 2025<br>Preliminary (A) Increase<br>(Decrease)<br>(A) - (B) As of<br>March 31, 2024<br>(B) As of<br>September 30, 2024
(1) Total capital ratio (4)/(7) 17.07 % 0.77 % 16.29 % 17.33 %
(2) Tier 1 capital ratio (5)/(7) 15.24 % 0.86 % 14.38 % 15.42 %
(3) Common Equity Tier 1 capital ratio (6)/(7) 12.30 % 0.53 % 11.77 % 12.52 %
(4) Total capital 12,248.9 (30.2 ) 12,279.1 12,539.5
(5) Tier 1 capital 10,940.2 101.2 10,839.0 11,156.4
(6) Common Equity Tier 1 capital 8,830.9 (41.4 ) 8,872.4 9,059.2
(7) Risk weighted assets 71,747.3 (3,615.9 ) 75,363.3 72,347.0
(8) Required Capital (7)×8% 5,739.7 (289.2 ) 6,029.0 5,787.7
TB Non-consolidated
(in billions of yen)
As of<br>March 31, 2025<br>Preliminary (A) Increase<br>(Decrease)<br>(A) - (B) As of<br>March 31, 2024<br>(B) As of September<br>30, 2024
(1) Total capital ratio (4)/(7) 20.06 % 1.02 % 19.03 % 21.68 %
(2) Tier 1 capital ratio (5)/(7) 16.89 % 0.16 % 16.72 % 18.66 %
(3) Common Equity Tier 1 capital ratio (6)/(7) 14.35 % (0.35 )% 14.71 % 16.09 %
(4) Total capital 2,176.0 (33.6 ) 2,209.6 2,259.9
(5) Tier 1 capital 1,832.1 (108.9 ) 1,941.1 1,945.2
(6) Common Equity Tier 1 capital 1,556.6 (150.9 ) 1,707.6 1,677.7
(7) Risk weighted assets 10,844.5 (761.4 ) 11,605.9 10,423.8
(8) Required Capital (7)×8% 867.5 (60.9 ) 928.4 833.9
Note: Risk-adjusted capital ratio of MUFG is computed in accordance with the Notification of the Financial Services<br>Agency No.20, 2006.
:--- :---
Risk-adjusted capital ratio of BK and TB are computed in accordance with the Notification of the Financial<br>Services Agency No.19, 2006.
:---

13

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<br>March 31, 2025 As of<br>March 31, 2024 Increase<br>(Decrease)
Bankrupt or De facto Bankrupt 300,776 239,004 61,772
Doubtful 693,225 1,134,503 (441,277 )
Special Attention 536,469 634,023 (97,554 )
Accruing loans contractually past due 3 months or more 17,863 26,869 (9,005 )
Restructured loans 518,605 607,154 (88,549 )
Subtotal (A) 1,530,471 2,007,531 (477,060 )
Normal(B) 135,805,816 130,602,373 5,203,442
Total loans (C=A+B) 137,336,287 132,609,905 4,726,382
Non-performing loans ratio (A)/(C) 1.11 % 1.51 % (0.39 )%
Write-offs 199,367 217,701 (18,333 )
(2) Allowance for Credit Losses
(in millions of yen)
As of<br>March 31, 2025 Coverage ratio<br>(D)/(A) As of<br>March 31, 2024 Coverage ratio<br>(D)/(A) Increase<br>(Decrease) Coverage ratio<br>(D)/(A)
Allowance for credit losses (D) 1,214,870 79.37 % 1,535,253 76.47 % (320,383 ) 2.90 %
General allowance for credit losses 761,228 848,536 (87,308 )
Specific allowance for credit losses 442,257 665,305 (223,047 )
Allowance for credit to specific foreign borrowers 11,385 21,412 (10,026 )
(3) Classification of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)
(in millions of yen)
Classified by Geographic Area As of<br>March 31, 2025 As of<br>March 31, 2024 Increase<br>(Decrease)
Domestic 786,751 813,702 (26,950 )
Overseas 743,720 1,193,829 (450,109 )
Asia 491,835 420,715 71,119
Indonesia 51,106 50,117 989
Singapore 629 12,752 (12,122 )
Thailand 382,780 280,757 102,023
Other 57,318 77,088 (19,769 )
Americas 124,006 601,518 (477,511 )
Europe, Middle East and Other 127,878 171,595 (43,717 )
Total 1,530,471 2,007,531 (477,060 )
(in millions of yen)
Classified by Industry As of<br>March 31, 2025 As of<br>March 31, 2024 Increase<br>(Decrease)
Domestic 786,751 813,702 (26,950 )
Manufacturing 297,746 283,777 13,969
Construction 6,258 8,226 (1,968 )
Wholesale and retail 84,280 87,732 (3,451 )
Finance and insurance 16,709 14,109 2,600
Real estate, goods rental and leasing 27,402 37,388 (9,986 )
Services 65,970 80,749 (14,779 )
Other industries 38,996 48,708 (9,712 )
Consumer 249,386 253,008 (3,621 )
Overseas 743,720 1,193,829 (450,109 )
Financial institutions 14,902 3,104 11,797
Commercial and industrial 492,167 1,021,074 (528,906 )
Other 236,650 169,650 66,999
Total 1,530,471 2,007,531 (477,060 )

14

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<br>March 31, 2025 As of<br>March 31, 2024 Increase<br>(Decrease)
Bankrupt or De facto Bankrupt 50,052 77,265 (27,213 )
Doubtful 448,449 904,052 (455,603 )
Special Attention 365,391 478,331 (112,940 )
Accruing loans contractually past due 3 months or more 9,236 19,163 (9,926 )
Restructured loans 356,154 459,167 (103,013 )
Subtotal (A) 863,892 1,459,649 (595,756 )
Normal(B) 121,231,909 116,726,530 4,505,379
Total loans (C=A+B) 122,095,802 118,186,179 3,909,622
Non-performing loans ratio (A)/(C) 0.70 % 1.23 % (0.52 )%
Write-offs 163,085 181,926 (18,841 )
(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<br>March 31, 2025 Coverage ratio<br>[(D)+(E)]/(A) As of<br>March 31, 2024 Coverage ratio<br>[(D)+(E)]/(A) Increase<br>(Decrease) Coverage ratio<br>[(D)+(E)]/(A)
Covered amount 656,627 76.00 % 1,042,471 71.41 % (385,844 ) 4.58 %
Allowance for credit losses(D) 325,637 609,945 (284,307 )
Collateral, guarantees, etc.(E) 330,989 432,525 (101,536 )
(3) Coverage Ratio
(in millions of yen)
Category Loan amount<br>(A) Allowance for<br>credit losses<br>(D) Covered by<br>collateral and/<br>or guarantees<br>(E) Allowance<br>coverage ratio<br>for unsecured<br>portion (D) /<br>[(A) - (E)] Coverage ratio<br>[(D)+(E)]/(A)
Bankrupt or De facto Bankrupt 50,052 995 49,057 100.00 %
[77,265 ] [ 5,358 ] [71,907 ] [100.00 %]
Doubtful 448,449 189,859 133,301 72.06 %
[904,052 ] [441,031 ] [161,324 ] [66.62 %]
Special Attention 365,391 134,782 148,630 77.56 %
[478,331 ] [163,555 ] [199,294 ] [75.85 %]
Total 863,892 325,637 330,989 76.00 %
[1,459,649 ] [609,945 ] [432,525 ] [71.41 %]
Note: The upper figures are as of March 31, 2025. The lower figures with brackets are as of March 31, 2024.
(4) Classification of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)
(in millions of yen)
Classified by Geographic Area As of<br>March 31, 2025 As of<br>March 31, 2024 Increase<br>(Decrease)
Domestic 583,270 621,995 (38,724 )
Overseas 280,622 837,654 (557,031 )
Asia 58,101 89,421 (31,320 )
Indonesia 507 — 507
Singapore 629 12,752 (12,122 )
Thailand — — —
Other 56,964 76,669 (19,705 )
Americas 124,006 601,518 (477,511 )
Europe, Middle East and Other 98,514 146,713 (48,199 )
Total 863,892 1,459,649 (595,756 )
(in millions of yen)
Classified by Industry As of<br>March 31, 2025 As of<br>March 31, 2024 Increase<br>(Decrease)
Domestic 583,270 621,995 (38,724 )
Manufacturing 295,833 282,469 13,363
Construction 6,164 8,050 (1,886 )
Wholesale and retail 81,876 85,689 (3,812 )
Finance and insurance 16,687 14,088 2,599
Real estate 17,748 22,960 (5,212 )
Goods rental and leasing 9,636 14,393 (4,756 )
Services 65,734 80,619 (14,885 )
Other industries 37,889 47,998 (10,109 )
Consumer 51,699 65,724 (14,024 )
Overseas 280,622 837,654 (557,031 )
Financial institutions 13,131 2,611 10,519
Commercial and industrial 267,402 834,942 (567,540 )
Other 88 99 (10 )
Total 863,892 1,459,649 (595,756 )

15

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<br>March 31, 2025 As of<br>March 31, 2024 Increase<br>(Decrease)
Bankrupt or De facto Bankrupt 50,002 77,210 (27,208 )
Doubtful 447,324 902,706 (455,382 )
Special Attention 365,391 478,331 (112,940 )
Accruing loans contractually past due 3 months or more 9,236 19,163 (9,926 )
Restructured loans 356,154 459,167 (103,013 )
Subtotal (A) 862,718 1,458,248 (595,530 )
Normal (B) 118,665,863 114,178,105 4,487,758
Total loans (C=A+B) 119,528,581 115,636,353 3,892,228
Non-performing loans ratio (A)/(C) 0.72 % 1.26 % (0.53 )%
Write-offs 163,077 181,894 (18,817 )
(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<br>March 31, 2025 Coverage ratio<br>[(D)+(E)]/(A) As of<br>March 31, 2024 Coverage ratio<br>[(D)+(E)]/(A) Increase<br>(Decrease) Coverage ratio<br>[(D)+(E)]/(A)
Covered amount 655,452 75.97 % 1,041,070 71.39 % (385,617 ) 4.58 %
Allowance for credit losses (D) 325,637 609,945 (284,307 )
Collateral, guarantees, etc. (E) 329,815 431,124 (101,309 )
(3) Coverage Ratio
(in millions of yen)
Category Loan amount<br>(A) Allowance for<br>credit losses<br>(D) Covered by<br>collateral and/<br>or guarantees<br>(E) Allowance<br>coverage ratio<br>for unsecured<br>portion<br>(D) / [(A) - (E)] Coverage ratio<br>[(D)+(E)]/(A)
Bankrupt or De facto Bankrupt 50,002 995 49,007 100.00 % 100.00 %
[ 77,210 ] [ 5,358 ] [ 71,852 ] [ 100.00 %] [ 100.00 %]
Doubtful 447,324 189,859 132,177 60.24 % 71.99 %
[ 902,706 ] [ 441,031 ] [ 159,978 ] [ 59.37 %] [ 66.57 %]
Special Attention 365,391 134,782 148,630 62.18 % 77.56 %
[ 478,331 ] [ 163,555 ] [ 199,294 ] [ 58.61 %] [ 75.85 %]
Total 862,718 325,637 329,815 61.10 % 75.97 %
[ 1,458,248 ] [ 609,945 ] [ 431,124 ] [ 59.38 %] [ 71.39 %]
Note: The upper figures are as of March 31, 2025. The lower figures with brackets are as of March 31, 2024.<br><br>(4) Classification of Loans to Be Disclosed under the Banking Act and the FRA (excluding<br>Normal Loans)
(in millions of yen)
Classified by Geographic Area As of March<br>31, 2025 As of March<br>31, 2024 Increase<br>(Decrease)
Domestic 582,096 620,594 (38,498 )
Overseas 280,622 837,654 (557,031 )
Asia 58,101 89,421 (31,320 )
Indonesia 507 — 507
Singapore 629 12,752 (12,122 )
Thailand — — —
Other 56,964 76,669 (19,705 )
Americas 124,006 601,518 (477,511 )
Europe, Middle East and Other 98,514 146,713 (48,199 )
Total 862,718 1,458,248 (595,530 )
(in millions of yen)
Classified by Industry As of March<br>31, 2025 As of March<br>31, 2024 Increase<br>(Decrease)
Domestic 582,096 620,594 (38,498 )
Manufacturing 295,833 282,469 13,363
Construction 6,164 8,050 (1,886 )
Wholesale and retail 81,876 85,689 (3,812 )
Finance and insurance 16,687 14,088 2,599
Real estate 17,748 22,960 (5,212 )
Goods rental and leasing 9,636 14,393 (4,756 )
Services 65,734 80,619 (14,885 )
Other industries 37,889 47,998 (10,109 )
Consumer 50,525 64,323 (13,798 )
Overseas 280,622 837,654 (557,031 )
Financial institutions 13,131 2,611 10,519
Commercial and industrial 267,402 834,942 (567,540 )
Other 88 99 (10 )
Total 862,718 1,458,248 (595,530 )

16

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<br>March 31, 2025 As of March 31, 2024 Increase<br>(Decrease)
Bankrupt or De facto Bankrupt 49 54 (5 )
Doubtful 1,124 1,346 (221 )
Special Attention — — —
Accruing loans contractually past due 3 months or more — — —
Restructured loans — — —
Subtotal (A) 1,174 1,401 (226 )
Normal (B) 2,563,577 2,545,305 18,272
Total loans (C=A+B) 2,564,752 2,546,706 18,045
Non-performing loans ratio (A)/(C) 0.04 % 0.05 % (0.01 )%
Write-offs 7 31 (24 )
(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<br>March 31, 2025 Coverage ratio<br>[(D)+(E)]/(A) As of<br>March 31, 2024 Coverage ratio<br>[(D)+(E)]/(A) Increase<br>(Decrease) Coverage ratio<br>[(D)+(E)]/(A)
Covered amount 1,174 100.00 % 1,401 100.00 % (226 ) —
Allowance for credit losses (D) — — —
Collateral, guarantees, etc. (E) 1,174 1,401 (226 )

(3) Coverage Ratio

(in millions of yen)
Category Loan amount<br>(A) Allowance for<br>credit losses<br>(D) Covered by<br>collateral and/<br>or guarantees<br>(E) Allowance coverage<br>ratio for unsecured<br>portion<br>(D) / [(A) - (E)] Coverage ratio<br>[(D)+(E)]/(A)
Bankrupt or De facto Bankrupt 49 — 49 — 100.00 %
[54 ] [ — ] [54 ] [ — ] [ 100.00 %]
Doubtful 1,124 — 1,124 — 100.00 %
[ 1,346 ] [ — ] [ 1,346 ] [ — ] [ 100.00 %]
Special Attention — — — — —
[ — ] [ — ] [ — ] [ — ] [ — ]
Total 1,174 — 1,174 — 100.00 %
[ 1,401 ] [ — ] [ 1,401 ] [ — ] [ 100.00 %]

Note: The upper figures are as of March 31, 2025. The lower figures with brackets are as of March 31, 2024.

(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<br>March 31, 2025 As of March 31, 2024 Increase<br>(Decrease)
Domestic 1,174 1,401 (226 )
Overseas — — —
Asia — — —
Indonesia — — —
Singapore — — —
Thailand — — —
Other — — —
Americas — — —
Europe, Middle East and Other — — —
Total 1,174 1,401 (226 )
(in millions of yen)
Classified by Industry As of<br>March 31, 2025 As of March 31, 2024 Increase<br>(Decrease)
Domestic 1,174 1,401 (226 )
Manufacturing — — —
Construction — — —
Wholesale and retail — — —
Finance and insurance — — —
Real estate — — —
Goods rental and leasing — — —
Services — — —
Other industries — — —
Consumer 1,174 1,401 (226 )
Overseas — — —
Financial institutions — — —
Commercial and industrial — — —
Other — — —
Total 1,174 1,401 (226 )

17

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<br>March 31, 2025 As of<br>March 31, 2024 Increase<br>(Decrease)
Bankrupt or De facto Bankrupt — — —
Doubtful — — —
Special Attention — — —
Accruing loans contractually past due 3 months or more — — —
Restructured loans — — —
Subtotal (A) — — —
Normal(B) 2,468 3,119 (651 )
Total loans (C=A+B) 2,468 3,119 (651 )
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<br>March 31, 2025 Coverage ratio<br>[(D)+(E)]/(A) As of<br>March 31, 2024 Coverage ratio<br>[(D)+(E)]/(A) Increase<br>(Decrease) Coverage ratio<br>[(D)+(E)]/(A)
Covered amount — — — — — —
Allowance for credit losses(D) — — —
Collateral, guarantees, etc.(E) — — —

(3) Coverage Ratio

(in millions of yen)
Category Loan amount<br>(A) Allowance for<br>credit losses<br>(D) Covered by<br>collateral and/or<br>guarantees (E) Allowance coverage<br>ratio for unsecured<br>portion<br>(D) / [(A) - (E)] Coverage ratio<br>[(D)+(E)]/(A)
Bankrupt or De facto Bankrupt — — — — —
[ — ] [ — ] [ — ] [ — ] [ — ]
Doubtful — — — — —
[ — ] [ — ] [ — ] [ — ] [ — ]
Special Attention — — — — —
[ — ] [ — ] [ — ] [ — ] [ — ]
Total — — — — —
[ — ] [ — ] [ — ] [ — ] [ — ]

Note: The upper figures are as of March 31, 2025. The lower figures with brackets are as of March 31, 2024.

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

(in millions of yen)
Classified by Industry As of<br>March 31, 2025 As of<br>March 31, 2024 Increase<br>(Decrease)
Domestic — — —
Manufacturing — — —
Construction — — —
Wholesale and retail — — —
Finance and insurance — — —
Real estate — — —
Goods rental and leasing — — —
Services — — —
Other industries — — —
Consumer — — —
Total — — —

18

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

LOGO

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

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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<br>March 31, 2022 As of<br>March 31, 2023 As of<br>March 31, 2024<br>(A) As of<br>March 31, 2025<br>(B) (B) - (A)
Assets newly categorized during fiscal 2021 321,978 110,451 68,032 56,415 (11,616 )
Assets newly categorized during fiscal 2022 240,324 114,818 71,431 (43,387 )
Assets newly categorized during fiscal 2023 642,712 79,951 (562,760 )
Assets newly categorized during fiscal 2024 175,417

(2) Progress in Disposition of Problem Assets

(in millions of yen)
For the Fiscal Year Ended March 31, 2025
Bankrupt or<br>De facto Bankrupt Doubtful
Liquidation 5,298
Reconstructive treatment 29,063
Upgrade due to reconstructive treatment —
Loan sold to secondary market 310,259
Write-offs 6,956
Others 306,428
Collection / Repayment 82,494
Upgrade 223,933
Total 658,007 47,646 610,360
Amount in process for disposition 32,930
Note: The process for disposition consists of legal liquidation, quasi-legal liquidation, company splits to good<br>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<br>revitalization of companies, which are scheduled to be off-balanced before their maturities.
:--- :---

20

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<br>March 31, 2022 As of<br>March 31, 2023 As of<br>March 31, 2024<br>(A) As of<br>March 31, 2025<br>(B) (B) - (A)
Assets newly categorized during fiscal 2021 635 272 204 95 109
Assets newly categorized during fiscal 2022 986 262 91 170
Assets newly categorized during fiscal 2023 410 254 156
Assets newly categorized during fiscal 2024 477

(2) Progress in Disposition of Problem Assets

(in millions of yen)
For the Fiscal Year Ended March 31, 2025
Bankrupt or<br>De facto Bankrupt Doubtful
Liquidation —
Reconstructive treatment —
Upgrade due to reconstructive treatment —
Loan sold to secondary market —
Write-offs —
Others 800
Collection / Repayment 198
Upgrade 602
Total 800 47 752
Amount in process for disposition 47
Note: The process for disposition consists of legal liquidation, quasi-legal liquidation, company splits to good<br>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<br>revitalization of companies, which are scheduled to be off-balanced before their maturities.
:--- :---

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Mitsubishi UFJ Financial Group, Inc.

9. Loans Classified by Type of Industry

BK and TB Combined including Trust Accounts

Loans Classified by Type of Industry

(in millions of yen)
As<br>of<br>March 31, 2025<br>(A) Increase<br>(Decrease)<br>(A) -<br>(B) As<br>of<br>March 31, 2024<br>(B)
Domestic offices (excluding loans booked at offshore markets) 76,433,399 5,090,597 71,342,802
Manufacturing 10,937,227 (663,343 ) 11,600,570
Agriculture, forestry, fishery, mining, quarrying of stone and gravel 109,556 16,369 93,187
Construction 949,141 21,892 927,249
Utilities 2,703,238 48,334 2,654,904
Communication and information services 1,424,755 173,932 1,250,823
Transport and postal activities 2,162,208 (23,349 ) 2,185,557
Wholesale and retail 6,165,683 (375,942 ) 6,541,625
Finance and insurance 9,270,162 (284,917 ) 9,555,080
Real estate 11,687,912 910,802 10,777,110
Goods rental and leasing 2,479,061 (117,804 ) 2,596,865
Services 3,519,248 783,742 2,735,505
Municipal government 1,576,476 34,195 1,542,281
Other industries (including loans to the Japanese government) 23,448,729 4,566,685 18,882,044
Overseas offices and loans booked at offshore markets 35,156,819 (735,556 ) 35,892,376
Governments 407,470 92,806 314,663
Financial Institutions 14,258,007 750,969 13,507,038
Other 20,491,341 (1,579,332 ) 22,070,674
Total 111,590,219 4,355,040 107,235,179

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Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

Loans Classified by Type of Industry

(in millions of yen)
As of<br>March 31, 2025<br>(A) Increase<br>(Decrease)<br>(A) - (B) As of<br>March 31, 2024<br>(B)
Domestic offices (excluding loans booked at offshore markets) 73,932,619 5,281,152 68,651,467
Manufacturing 10,935,827 (663,343 ) 11,599,170
Agriculture, forestry, fishery, mining, quarrying of stone and gravel 109,556 16,369 93,187
Construction 949,141 21,892 927,249
Utilities 2,703,238 48,334 2,654,904
Communication and information services 1,412,963 171,174 1,241,789
Transport and postal activities 2,147,208 (23,349 ) 2,170,557
Wholesale and retail 6,165,683 (375,942 ) 6,541,625
Finance and insurance 7,829,716 (267,114 ) 8,096,830
Real estate 11,651,886 904,140 10,747,746
Goods rental and leasing 2,479,061 (117,804 ) 2,596,865
Services 3,518,734 783,754 2,734,980
Municipal government 1,576,245 34,225 1,542,020
Other industries (including loans to the Japanese government) 22,453,361 4,748,816 17,704,545
Overseas offices and loans booked at offshore markets 33,809,971 (983,545 ) 34,793,516
Governments 407,470 92,806 314,663
Financial Institutions 12,911,195 502,983 12,408,212
Other 20,491,305 (1,579,335 ) 22,070,640
Total 107,742,591 4,297,607 103,444,984

23

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

Loans Classified by Type of Industry

(in millions of yen)
As<br>of<br>March 31, 2025<br>(A) Increase<br>(Decrease)<br>(A) -<br>(B) As<br>of<br>March 31, 2024<br>(B)
Domestic offices (excluding loans booked at offshore markets) 992,824 (128,541 ) 1,121,366
Manufacturing — — —
Agriculture, forestry, fishery, mining, quarrying of stone and gravel — — —
Construction — — —
Utilities — — —
Communication and information services 11,792 2,758 9,034
Transport and postal activities — — —
Wholesale and retail — — —
Finance and insurance 219,309 11,357 207,951
Real estate 10,432 6,902 3,529
Goods rental and leasing — — —
Services 514 (11 ) 525
Municipal government — — —
Other industries (including loans to the Japanese government) 750,777 (149,549 ) 900,326
Overseas offices and loans booked at offshore markets 1,346,848 247,988 1,098,859
Governments — — —
Financial Institutions 1,346,812 247,986 1,098,826
Other 35 2 33
Total 2,339,672 119,446 2,220,225

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Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated: Trust Accounts

Loans Classified by Type of Industry

(in millions of yen)
As<br>of<br>March 31, 2025<br>(A) Increase<br>(Decrease)<br>(A) -<br>(B) As<br>of<br>March 31, 2024<br>(B)
Domestic offices (excluding loans booked at offshore markets) 1,507,955 (62,013 ) 1,569,969
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 1,221,137 (29,161 ) 1,250,299
Real estate 25,594 (240 ) 25,835
Goods rental and leasing — — —
Services — — —
Municipal government 231 (29 ) 261
Other industries (including loans to the Japanese government) 244,591 (32,581 ) 277,173
Overseas offices and loans booked at offshore markets — — —
Governments — — —
Financial Institutions — — —
Other — — —
Total 1,507,955 (62,013 ) 1,569,969

25

Mitsubishi UFJ Financial Group, Inc.

10 Domestic Consumer Loans, Domestic Loans to Small/Medium-Sized Companies and Proprietors

BK and TB Combined including Trust Accounts

(1) Domestic Consumer Loans

(in millions of yen)
As<br>of<br>March 31, 2025<br>(A) Increase<br>(Decrease)<br>(A) - (B) As<br>of<br>March 31, 2024<br>(B)
Total domestic consumer loans 15,030,803 76,071 14,954,731
Housing loans 14,275,020 38,769 14,236,251
Residential purpose 12,667,550 108,145 12,559,404
Other 755,782 37,302 718,480
(2) Domestic Loans to Small/Medium-Sized Companies and Proprietors
(in millions of yen)
As of March<br>31, 2025<br>(A) Increase<br>(Decrease)<br>(A) - (B) As of March<br>31, 2024<br>(B)
Outstanding amount 42,272,543 1,252,435 41,020,108
% to total domestic loans 55.30 % (2.19 )% 57.49 %
BK Non-consolidated
(1) Domestic Consumer Loans
(in millions of yen)
As of March<br>31, 2025<br>(A) Increase<br>(Decrease)<br>(A) - (B) As of March<br>31, 2024<br>(B)
Total domestic consumer loans 14,466,887 151,625 14,315,262
Housing loans 13,711,432 114,069 13,597,362
Residential purpose 12,104,268 183,406 11,920,862
Other 755,455 37,555 717,899
(2) Domestic Loans to Small/Medium-Sized Companies and Proprietors
(in millions of yen)
As of March<br>31, 2025<br>(A) Increase<br>(Decrease)<br>(A) - (B) As of March<br>31, 2024<br>(B)
Outstanding amount 41,355,190 1,373,737 39,981,453
% to total domestic loans 55.93 % (2.30 )% 58.23 %
TB Non-consolidated
(1) Domestic Consumer Loans
(in millions of yen)
As of March<br>31, 2025<br>(A) Increase<br>(Decrease)<br>(A) - (B) As of March<br>31, 2024<br>(B)
Total domestic consumer loans 561,773 (75,132 ) 636,906
Housing loans 561,446 (74,878 ) 636,325
Residential purpose 561,143 (74,841 ) 635,984
Other 326 (253 ) 580
(2) Domestic Loans to Small/Medium-Sized Companies and Proprietors
(in millions of yen)
As of March<br>31, 2025<br>(A) Increase<br>(Decrease)<br>(A) - (B) As of March<br>31, 2024<br>(B)
Outstanding amount 688,376 (97,447 ) 785,824
% to total domestic loans 69.33 % (0.74 )% 70.07 %
TB Non-consolidated: Trust Accounts
(1) Domestic Consumer Loans
(in millions of yen)
As of March<br>31, 2025<br>(A) Increase<br>(Decrease)<br>(A) - (B) As of March<br>31, 2024<br>(B)
Total domestic consumer loans 2,141 (421 ) 2,563
Housing loans 2,141 (421 ) 2,563
Residential purpose 2,138 (419 ) 2,557
Other — — —
(2) Domestic Loans to Small/Medium-Sized Companies and Proprietors
(in millions of yen)
As of March<br>31, 2025<br>(A) Increase<br>(Decrease)<br>(A) - (B) As of March<br>31, 2024<br>(B)
Outstanding amount 228,977 (23,853 ) 252,831
% to total domestic loans 15.18 % (0.91 )% 16.10 %

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Mitsubishi UFJ Financial Group, Inc.

11. Overseas Loans

BK Consolidated excl. KS, BDI

(in millions of yen)
As<br>of<br>March 31, 2025<br>(A) Increase<br>(Decrease)<br>(A) - (B) As<br>of<br>March 31, 2024<br>(B)
Americas 14,467,618 1,099,907 15,567,526
United States 12,449,634 1,024,434 13,474,068
Canada 778,602 29,253 749,349
Brazil 415,455 38,447 453,903
Mexico 313,232 18,700 331,932
Others 510,693 47,579 558,272
Asia/Oceania 11,551,107 550,892 12,101,999
Australia 1,913,147 188,194 1,724,953
Hong Kong 1,742,655 329,348 2,072,004
India 1,600,144 241,874 1,358,270
Singapore 1,408,325 48,851 1,457,176
China 1,132,705 391,123 1,523,829
Indonesia 1,001,535 107,001 1,108,536
Malaysia 720,942 20,837 741,780
Korea 488,211 113,881 602,093
Taiwan 461,892 46,719 415,172
New Zealand 398,982 25,753 424,736
Philippines 345,731 69,877 275,854
Others 336,832 60,759 397,591
EMEA 9,074,311 472,537 9,546,849
United Kingdom 2,234,521 225,262 2,009,259
Netherlands 1,212,711 78,820 1,133,891
Germany 775,460 18,998 794,459
France 562,286 169,143 731,430
Luxembourg 561,431 30,771 592,202
Ireland 475,917 33,588 442,328
Italy 270,791 41,733 229,058
Switzerland 229,513 5,134 234,648
Turkey 203,390 509 203,900
Saudi Arabia 199,684 21,690 221,374
Spain 183,043 19,289 202,333
Belgium 178,732 33,525 145,207
Qatar 167,535 87,026 254,562
United Arab Emirates 141,775 11,336 153,111
Guernsey, C.I. 74,195 12,113 62,082
Sweden 63,256 44,206 107,463
Oman 60,096 31,461 91,557
Others 1,479,964 458,011 1,937,975
Total 35,093,037 2,123,337 37,216,375

KS and BDI have the following loan balances in the consolidated financial statements.

(in millions of yen)
As<br>of<br>March 31, 2025<br>(A) Increase<br>(Decrease)<br>(A) -<br>(B) As<br>of<br>March 31, 2024<br>(B)
KS 6,430,302 94,041 6,336,261
BDI 1,614,099 197,431 1,416,667

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Mitsubishi UFJ Financial Group, Inc.

12. Loans and Deposits

BK and TB Combined

(in millions of yen)
As<br>of<br>March 31, 2025<br>(A) Increase<br>(Decrease)<br>(A) -<br>(B) As<br>of<br>March 31, 2024<br>(B)
Deposits (ending balance) 215,970,679 3,156,748 212,813,930
Deposits (average balance) 215,144,567 4,711,765 210,432,802
Loans (ending balance) 110,082,264 4,417,053 105,665,210
Loans (average balance) 110,710,718 4,468,777 106,241,940
BK Non-consolidated
(in millions of yen)
As of March<br>31, 2025<br>(A) Increase<br>(Decrease)<br>(A) - (B) As of<br>March 31, 2024<br>(B)
Deposits (ending balance) 202,712,799 2,648,210 200,064,588
Deposits (average balance) 201,300,396 3,063,952 198,236,443
Loans (ending balance) 107,742,591 4,297,607 103,444,984
Loans (average balance) 108,514,370 4,576,483 103,937,886
TB Non-consolidated
(in millions of yen)
As of March<br>31, 2025<br>(A) Increase<br>(Decrease)<br>(A) - (B) As of<br>March 31, 2024<br>(B)
Deposits (ending balance) 13,257,880 508,538 12,749,342
Deposits (average balance) 13,844,171 1,647,812 12,196,358
Loans (ending balance) 2,339,672 119,446 2,220,225
Loans (average balance) 2,196,348 (107,706 ) 2,304,054

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Mitsubishi UFJ Financial Group, Inc.

13. Domestic Deposits

BK and TB Combined

(in millions of yen)
As of March<br>31, 2025<br>(A) Increase<br>(Decrease)<br>(A) -<br>(B) As of March<br>31, 2024<br>(B)
Individuals 93,618,823 892,260 92,726,562
Corporations and others 86,235,520 2,684,369 83,551,151
Domestic deposits 179,854,343 3,576,629 176,277,713
Note: Amounts do not include negotiable certificates of deposit and JOM accounts.
BK Non-consolidated
(in millions of yen)
As of March<br>31, 2025<br>(A) Increase<br>(Decrease)<br>(A) - (B) As of March<br>31, 2024<br>(B)
Individuals 87,578,130 815,460 86,762,670
Corporations and others 81,672,372 2,589,120 79,083,251
Domestic deposits 169,250,502 3,404,580 165,845,921
Note: Amounts do not include negotiable certificates of deposit and JOM accounts.
TB Non-consolidated
(in millions of yen)
As of March<br>31, 2025<br>(A) Increase<br>(Decrease)<br>(A) - (B) As of March<br>31, 2024<br>(B)
Individuals 6,040,693 76,800 5,963,892
Corporations and others 4,563,148 95,248 4,467,899
Domestic deposits 10,603,841 172,048 10,431,792
Note: Amounts do not include negotiable certificates of deposit and JOM accounts.

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Mitsubishi UFJ Financial Group, Inc.

14. 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<br>March 31, 2025<br>(A) Increase<br>(Decrease)<br>(A) -<br>(B) As of<br>March 31, 2024<br>(B)
Deferred tax assets 1,041.9 (179.7 ) 1,221.6
Allowance for credit losses 210.9 (89.9 ) 300.8
Write-down on investment securities 373.0 15.9 357.0
Unrealized losses on<br>Available-for-sale securities 1.2 (132.5 ) 133.7
Reserve for retirement benefits 68.0 (7.1 ) 75.1
Reserve for contingent losses 19.3 (2.9 ) 22.3
Depreciation and Impairment losses 76.7 (8.2 ) 85.0
Devaluation on land upon merger 20.2 0.0 20.2
Net deferred losses on hedging instruments 437.4 76.6 360.7
Other 229.7 (20.5 ) 250.3
Valuation allowance (394.8 ) (10.8 ) (384.0 )
Deferred tax liabilities 767.4 (188.1 ) 955.6
Unrealized gains on<br>Available-for-sale securities 546.7 (201.1 ) 747.9
Revaluation gains on securities upon merger 37.7 (6.7 ) 44.4
Gains on securities contributed to employees’ retirement benefits trust 41.8 (0.8 ) 42.6
Gains on management of employees’ retirement benefits trust 62.4 8.5 53.9
Other 78.7 12.0 66.7
Net deferred tax assets 274.4 8.4 265.9

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

(in billions of yen)
FY2019 FY2020 FY2021 FY2022 FY2023 FY2024
Net operating profits before provision for general allowance for credit losses 395.2 388.0 374.4 690.4 974.6 521.7
Total credit costs 11.8 (223.3 ) (234.0 ) (98.5 ) (250.2 ) 237.3
Income before income taxes (535.9 ) 205.5 286.1 1,239.5 994.7 1,276.6
Reconciliation to taxable income 844.6 98.5 343.3 (453.8 ) (50.5 ) (466.9 )
Taxable income 308.7 304.1 629.5 785.7 944.2 809.7

(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.

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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<br>March 31, 2025<br>(A) Increase<br>(Decrease)<br>(A) -<br>(B) As of<br>March 31, 2024<br>(B)
Deferred tax assets 87.6 14.2 73.4
Gains on securities related to employees’ retirement benefits trust 62.0 9.8 52.2
Depreciation and Impairment losses 15.0 4.8 10.1
Write-down on investment securities 8.6 0.9 7.7
Group tax sharing transactions 7.5 1.2 6.3
Reserve for contingent losses 1.5 (0.5 ) 2.1
Other 20.0 1.7 18.2
Valuation allowance (27.3 ) (3.9 ) (23.4 )
Deferred tax liabilities 243.7 (19.4 ) 263.1
Reserve for retirement benefits 137.1 22.7 114.4
Unrealized gains on<br>Available-for-sale securities 72.3 (26.8 ) 99.2
Net deferred gains on hedging instruments 22.4 (12.5 ) 35.0
Other 11.6 (2.7 ) 14.4
Net deferred tax assets (156.0 ) 33.6 (189.7 )

(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)
FY2019 FY2020 FY2021 FY2022 FY2023 FY2024
Net operating profits before credit costs for trust accounts and provision for general allowance<br>for credit losses 142.3 132.3 176.4 109.1 70.4 70.0
Total credit costs 0.8 0.0 0.1 (0.2 ) (0.1 ) 0.2
Income before income taxes 148.6 129.4 210.6 165.7 75.1 199.8
Reconciliation to taxable income (39.3 ) (26.5 ) (37.4 ) (46.1 ) (17.1 ) (112.0 )
Taxable income 109.3 102.9 173.1 119.6 57.9 87.8

(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.

31

Mitsubishi UFJ Financial Group, Inc.

15. Retirement Benefits

MUFG Consolidated

(1) Benefit obligation

(in millions of yen)
As of March<br>31, 2025<br>(A) Increase<br>(Decrease)<br>(A) - (B) As of<br>March 31, 2024<br>(B)
Projected benefit obligation (reserve type) (A) 1,439,420 (140,074 ) 1,579,494
Projected benefit obligation (non-reserve type)<br>(B) 83,276 (17,014 ) 100,291
Fair value of plan assets (C) 3,635,614 75,481 3,560,132
Net amount recorded on the Consolidated Balance Sheet (A) + (B) - (C) (2,112,916 ) (232,570 ) (1,880,346 )
Net defined benefit liability 104,612 2,457 102,155
Net defined benefit asset (2,217,529 ) (235,027 ) (1,982,502 )

(2) Net periodic cost of retirement benefits

(in millions of yen)
For the fiscal year<br>ended<br>March<br>31, 2025<br>(A) Increase<br>(Decrease)<br>(A) - (B) For the fiscal year<br>ended<br>March<br>31, 2024<br>(B)
Net periodic cost of retirement benefits regarding defined benefit pension plans (100,926 ) (69,561 ) (31,364 )
Service cost 47,922 (1,312 ) 49,234
Interest cost 33,890 4,091 29,799
Expected return on plan assets (108,485 ) (14,166 ) (94,319 )
Amortization of unrecognized prior service cost (703 ) (802 ) 99
Amortization of unrecognized net actuarial loss (85,570 ) (44,858 ) (40,711 )
Other 12,019 (12,513 ) 24,533

(3) Assumptions used in calculation of projected benefit obligation

As of March 31, 2025
Discount rates Domestic consolidated subsidiaries 0.70%~2.63%
Overseas consolidated subsidiaries 1.99%~11.96%
Expected return Domestic consolidated subsidiaries 1.80%~4.10%
Overseas consolidated subsidiaries 3.30%~11.96%

32

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(1) Benefit obligation

(in millions of yen)
As of<br>March 31, 2025<br>(A) Increase<br>(Decrease)<br>(A) - (B) As of<br>March 31, 2024<br>(B)
Projected benefit obligation (A) 1,083,285 (128,445) 1,211,731
Discount rates (2.3% ~ 2.6%) (1.4% ~ 1.8%)
Fair value of plan assets (B) 2,539,516 73,204 2,466,312
Prepaid pension cost (C) 831,781 100,847 730,933
Reserve for retirement benefits (D) 16,909 (3,512) 20,421
Total amount unrecognized (A) - (B) + (C) - (D) (641,359) (97,290) (544,069)
Unrecognized net actuarial loss (641,326) (97,459) (543,866)
Unrecognized prior service cost (33) 169 (202)
(2) Net periodic cost
(in millions of yen)
For the fiscal year<br>ended<br>March 31, 2025<br>(A) Increase<br>(Decrease)<br>(A) - (B) For the fiscal year<br>ended<br>March 31, 2024<br>(B)
Net periodic cost of retirement benefits (58,035) (43,530) (14,505)
Service cost 29,634 (2,709) 32,344
Interest cost 24,780 2,898 21,882
Expected return on plan assets (65,804) (2,811) (62,992)
Amortization of unrecognized prior service cost (168) 25 (194)
Amortization of unrecognized net actuarial loss (66,708) (28,244) (38,463)
Other 20,228 (12,688) 32,917

33

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Benefit obligation

(in millions of yen)
As of<br>March 31, 2025<br>(A) Increase<br>(Decrease)<br>(A) - (B) As of<br>March 31, 2024<br>(B)
Projected benefit obligation(A) 250,949 (28,160 ) 279,110
Discount rates (2.1% ~ 2.4%) (1.3% ~ 1.7%)
Fair value of plan assets(B) 948,609 8,521 940,088
Prepaid pension cost(C) 555,465 62,697 492,768
Reserve for retirement benefits(D) — — —
Total amount unrecognized(A) - (B) + (C) - (D) (142,194 ) 26,015 (168,209 )
Unrecognized net actuarial loss (143,088 ) 26,237 (169,325 )
Unrecognized prior service cost 893 (221 ) 1,115
(2) Net periodic cost
(in millions of yen)
For the fiscal year<br>ended<br>March 31, 2025<br>(A) Increase<br>(Decrease)<br>(A) - (B) For the fiscal year<br>ended<br>March 31, 2024<br>(B)
Net periodic cost of retirement benefits (45,584 ) (26,931 ) (18,653 )
Service cost 4,368 (463 ) 4,831
Interest cost 4,478 809 3,668
Expected return on plan assets (38,856 ) (11,390 ) (27,465 )
Amortization of unrecognized prior service cost 221 — 221
Amortization of unrecognized net actuarial loss (16,410 ) (16,016 ) (393 )
Other 613 129 484

34

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<br>March 31, 2024 As of<br>March 31, 2025
Assets:
Cash and due from banks 89,284,902 89,553,911
Call loans 1,266,925 1,489,909
Receivables under resale agreements 1,241,358 3,031,388
Monetary claims bought 4,730,143 4,248,428
Trading assets 6,263,383 5,602,554
Money held in trust 37,178 32,798
Securities 69,957,384 69,147,025
Loans and bills discounted 103,444,984 107,742,591
Foreign exchanges 2,030,007 1,374,506
Other assets 10,604,231 10,785,183
Tangible fixed assets 688,751 676,397
Intangible fixed assets 493,516 509,097
Prepaid pension costs 730,933 831,781
Deferred tax assets 265,948 274,421
Customers’ liabilities for acceptances and guarantees 9,335,180 9,597,403
Allowance for credit losses (841,518 ) (530,929 )
Total assets 299,533,310 304,366,471

35

Mitsubishi UFJ Financial Group, Inc.

(in millions of yen) As of March 31,<br>2024 As of March 31,<br>2025
Liabilities:
Deposits 200,064,588 202,712,799
Negotiable certificates of deposit 10,912,738 11,625,450
Call money 683,360 730,676
Payables under repurchase agreements 14,790,983 21,795,415
Commercial papers 2,807,589 3,062,422
Trading liabilities 3,355,951 3,011,694
Borrowed money 34,810,924 29,946,265
Foreign exchanges 3,719,588 2,592,757
Bonds payable 1,250,571 1,109,130
Other liabilities 8,105,838 8,785,154
Reserve for bonuses 85,950 92,495
Reserve for bonuses to directors 148 267
Reserve for stocks payment 4,597 4,423
Reserve for retirement benefits 20,421 16,909
Reserve for contingent losses 73,000 62,378
Reserves under special laws — 0
Deferred tax liabilities for land revaluation 82,942 81,148
Acceptances and guarantees 9,335,180 9,597,403
Total liabilities 290,104,373 295,226,792
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 3,637,579 3,710,103
Revenue reserve 190,044 190,044
Other retained earnings 3,447,534 3,520,059
Funds for retirement benefits 2,432 2,432
Reserve for investment promotion taxation 260 852
Other reserve 718,196 718,196
Earned surplus brought forward 2,726,645 2,798,577
Treasury stock (645,700 ) (645,700 )
Total shareholders’ equity 8,582,112 8,654,637
Net unrealized gains (losses) on<br>available-for-sale securities 1,499,245 1,277,153
Net deferred gains (losses) on hedging instruments (814,862 ) (948,300 )
Land revaluation excess 162,441 156,189
Total valuation and translation adjustments 846,824 485,042
Total net assets 9,428,937 9,139,679
Total liabilities and net assets 299,533,310 304,366,471

36

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

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

(in millions of yen) For the fiscal year<br>ended<br>March 31, 2024 For the fiscal year<br>ended<br>March 31, 2025
Ordinary income 6,807,405 7,364,065
Interest income 4,942,626 5,179,269
Interest on loans and bills discounted 3,086,665 3,005,753
Interest and dividends on securities 887,669 1,175,747
Fees and commissions 807,090 870,242
Trading income 110,789 101,651
Other operating income 491,974 399,562
Other ordinary income 454,925 813,339
Ordinary expenses 5,807,634 6,156,555
Interest expenses 3,446,842 3,599,035
Interest on deposits 1,675,678 1,727,362
Fees and commissions 151,400 161,746
Trading expenses 1,217 3,910
Other operating expenses 469,385 909,207
General and administrative expenses 1,339,058 1,308,243
Other ordinary expenses 399,730 174,412
Ordinary profits 999,771 1,207,510
Extraordinary gains 20,745 80,403
Extraordinary losses 25,755 11,289
Income before income taxes 994,760 1,276,624
Income taxes - current 244,385 183,469
Income taxes - deferred (53,885 ) 133,977
Total taxes 190,499 317,446
Net income 804,260 959,178

37

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

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

(in millions of yen) As of<br>March 31, 2024 As of<br>March 31, 2025
Assets:
Cash and due from banks 13,589,516 13,562,026
Call loans 320,000 730,000
Receivables under resale agreements 81,636 84,905
Receivables under securities borrowing transactions 151,538 130,708
Monetary claims bought 15 15
Trading assets 70,459 88,909
Money held in trust 14,824 13,864
Securities 16,050,790 14,518,485
Loans and bills discounted 2,220,225 2,339,672
Foreign exchanges 281,805 175,657
Other assets 2,124,530 1,344,091
Tangible fixed assets 125,067 112,161
Intangible fixed assets 91,078 88,450
Prepaid pension costs 492,768 555,465
Customers’ liabilities for acceptances and guarantees 39,201 44,005
Allowance for credit losses (966 ) (932 )
Total assets 35,652,492 33,787,488

38

Mitsubishi UFJ Financial Group, Inc.

(in millions of yen) As of<br>March 31, 2024 As of<br>March 31, 2025
Liabilities:
Deposits 12,749,342 13,257,880
Negotiable certificates of deposit 5,385,777 5,746,397
Call money 1,493,171 2,038,024
Payables under repurchase agreements 6,191,612 5,464,023
Commercial papers 234,941 133,307
Trading liabilities 218,314 278,494
Borrowed money 2,087,312 1,578,850
Foreign exchanges 367,658 543,047
Short-term bonds payable 230,987 199,766
Bonds payable 30,000 30,000
Due to trust accounts 3,199,300 1,565,953
Other liabilities 1,038,897 689,059
Reserve for bonuses 5,571 6,081
Reserve for bonuses to directors 102 176
Reserve for stocks payment 3,891 3,556
Reserve for contingent losses 7,100 5,092
Deferred tax liabilities 189,776 156,082
Deferred tax liabilities for land revaluation 3,689 3,755
Acceptances and guarantees 39,201 44,005
Total liabilities 33,476,650 31,743,556
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 1,358,924 1,352,802
Revenue reserve 73,714 73,714
Other retained earnings 1,285,210 1,279,088
Funds for retirement benefits 710 710
Reserve for investment promotion taxation 281 281
Other reserve 138,495 138,495
Earned surplus brought forward 1,145,723 1,139,601
Treasury stock (299,999 ) (299,999 )
Total shareholders’ equity 1,839,173 1,833,051
Net unrealized gains (losses) on<br>available-for-sale securities 250,557 179,477
Net deferred gains (losses) on hedging instruments 85,588 31,040
Land revaluation excess 523 362
Total valuation and translation adjustments 336,668 210,879
Total net assets 2,175,842 2,043,931
Total liabilities and net assets 35,652,492 33,787,488

39

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

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

(in millions of yen) For the fiscal year<br>ended<br>March 31, 2024 For the fiscal year<br>ended<br>March 31, 2025
Ordinary income 1,436,971 1,542,316
Trust fees 120,757 126,186
Interest income 1,005,801 997,567
Interest on loans and bills discounted 74,186 91,803
Interest and dividends on securities 697,894 685,304
Fees and commissions 163,247 177,673
Trading income 24 30
Other operating income 58,754 92,267
Other ordinary income 88,386 148,590
Ordinary expenses 1,356,388 1,317,351
Interest expenses 884,979 821,011
Interest on deposits 107,503 124,346
Fees and commissions 54,335 58,346
Trading expenses 13,884 48,149
Other operating expenses 113,372 190,288
General and administrative expenses 212,235 190,497
Other ordinary expenses 77,581 9,057
Ordinary profits 80,583 224,965
Extraordinary gains 2,177 2,390
Extraordinary losses 7,630 27,503
Income before income taxes 75,130 199,852
Income taxes - current 13,599 39,902
Income taxes - deferred 3,727 5,713
Total taxes 17,326 45,616
Net income 57,803 154,236

40

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<br>March 31, 2024 As of<br>March 31, 2025
Assets:
Loans and bills discounted 1,569,969 1,507,955
Securities 80,134,164 82,297,398
Beneficiary rights to the trust 145,116,404 171,790,489
Securities held in custody accounts 3,886,180 3,182,746
Monetary claims 34,138,163 37,473,051
Tangible fixed assets 22,750,084 24,848,502
Intangible fixed assets 186,122 229,603
Other claims 3,312,930 4,279,871
Call loans 4,455,397 5,651,749
Due from banking account 6,170,680 4,244,900
Cash and due from banks 6,181,323 6,403,878
Total 307,901,420 341,910,148
Liabilities:
Money trusts 37,371,516 39,222,424
Pension trusts 12,760,480 13,366,896
Property formation benefit trusts 5,738 5,228
Investment trusts 145,025,458 170,479,519
Money entrusted other than money trusts 7,167,100 7,388,623
Securities trusts 6,145,365 5,392,692
Monetary claim trusts 29,767,810 32,124,384
Equipment trusts 226,799 412,714
Land and fixtures trusts 18,425 18,442
Composite trusts 69,412,725 73,499,220
Total 307,901,420 341,910,148
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 26,247 millions of yen as of March 31, 2024 and 32,651 millions of yen as of March 31, 2025.

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<br>March 31, 2024 As of<br>March 31, 2025
Assets:
Loans and bills discounted 3,119 2,468
Other 3,289,438 1,713,079
Total 3,292,557 1,715,548
Liabilities:
Principal 3,292,449 1,715,116
Allowance for bad debts 9 7
Other 99 424
Total 3,292,557 1,715,548

41

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(4) Major Items

(in millions of yen) As of<br>March 31, 2024 As of<br>March 31, 2025
Total funds 68,272,855 71,598,827
Deposits 12,749,342 13,257,880
Negotiable certificates of deposit 5,385,777 5,746,397
Money trusts 37,371,516 39,222,424
Pension trusts 12,760,480 13,366,896
Property formation benefit trusts 5,738 5,228
Loans and bills discounted 3,790,194 3,847,628
Banking account 2,220,225 2,339,672
Trust account 1,569,969 1,507,955
Investment securities 96,184,954 96,815,884
Note: The table shown above includes master trust assets under the service-shared co-trusteeship between TB and The Master Trust Bank of Japan, Ltd.
--- --- ---

42

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