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6-K

Mitsubishi Ufj Financial Group Inc (MUFG)

6-K 2024-05-15 For: 2024-05-15
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Added on April 07, 2026

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

Report ofForeign Private Issuer

Pursuant to Rule 13a-16 or15d-16 under

the Securities Exchange Act of 1934

For the month of May 2024

Commission File No. 000-54189

MITSUBISHI UFJ FINANCIAL GROUP, INC.

(Translation of registrant’s name into English)

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

Tokyo 100-8330, Japan

(Address of principal executive office)

Indicate by check mark whether the registrant files or

will file annual reports under cover of Form 20-F or Form40-F.

Form 20-F  X  Form40-F

Indicate by check mark if the registrant issubmitting the Form 6-K

in paper as permitted by RegulationS-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 Rule101(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FROM THE DATE ON WHICH THIS REPORT IS FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED WITH OR FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION.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, 2024

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, 2024

May 15, 2024

Company name: Mitsubishi UFJ Financial Group, Inc.
Stock exchange listings: Tokyo, Nagoya, New York
Code number: 8306
URL https://www.mufg.jp/
Representative: Hironori Kamezawa, President & Group CEO
For inquiry: Masahisa Takahashi, Managing Director, Head of Financial Accounting and Reporting, Financial<br>Accounting Office, Financial Planning Division
TEL 050-3613-1179
General meeting of shareholders: June 27, 2024
Dividend payment date: June 28, 2024
Securities report issuing date: June 25, 2024
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, 2024

(1) Results of Operations
(% represents the change from the previous fiscal year)
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Ordinary Income Ordinary Profits Profits Attributable toOwners of Parent
million yen % million yen % million yen %
Fiscal year ended
March 31, 2024 11,890,350 28.1 2,127,958 108.5 1,490,781 33.5
March 31, 2023 9,281,027 52.8 1,020,728 (33.6 ) 1,116,496 (1.3 )
(*) Comprehensive income
--- ---

March 31, 2024: 3,316,519 million yen  186.2%;  March 31, 2023: 1,158,800 million yen  45.3%

Basic earningsper share Diluted earningsper share Net Income to Net AssetsAttributable toMUFG shareholders Ordinary Profits toTotal Assets Ordinary Profits toOrdinary Income
yen yen % % %
Fiscal year ended
March 31, 2024 124.65 124.33 8.1 0.5 17.9
March 31, 2023 90.73 90.41 6.5 0.3 11.0

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

March 31, 2024: 531,803 million yen;  March 31, 2023: 425,829 million yen

(2) Financial Conditions
Total Assets Total Net Assets Equity-to-assetratio (*) Total Net Assetsper Common Stock
--- --- --- --- --- --- --- --- ---
million yen million yen % yen
As of
March 31, 2024 403,703,147 20,746,978 4.9 1,670.45
March 31, 2023 386,799,477 18,272,857 4.5 1,433.12

(Reference) Shareholders’ equity as of March 31, 2024: 19,587,974 million yen;  March 31, 2023: 17,231,291 million yen

(*) “Equity-to-asset<br>ratio” is computed under the formula shown below
(Total  net assets - Subscription right to share -<br>Non-controlling interests) / Total assets
---
(3) Cash Flows
--- ---
Cash Flows fromOperating Activities Cash Flows fromInvesting Activities Cash Flows fromFinancing Activities Cash and Cash Equivalentsat the end of the period
--- --- --- --- --- --- --- --- --- --- --- ---
million yen million yen million yen million yen
Fiscal year ended
March 31, 2024 (9,844,860 ) 3,986,415 8,307 109,870,502
March 31, 2023 13,431,773 (10,675,096 ) (977,138 ) 113,630,172

2. Dividends on Common Stock

Dividends per Share Totaldividends Dividend<br>payout ratio(Consolidated) Dividend onnet assets ratio<br>(Consolidated)
1^st^quarter-end 2ndquarter-end 3^rd^quarter-end Fiscalyear-end Total
yen yen yen yen yen million yen % %
Fiscal year
ended March 31, 2023 — 16.00 — 16.00 32.00 389,991 35.3 2.3
ended March 31, 2024 — 20.50 — 20.50 41.00 488,038 32.9 2.6
ending March 31, 2024 (Forecast) — 25.00 — 25.00 50.00 39.1
(*) Revision of forecasts for dividends on the presentation date of this Consolidated Summary Report: None <br>
--- ---

3. Earnings Target for the Fiscal Year ending March 31, 2025 (Consolidated)

MUFG has set an earnings target of 1,500.0 billion yen of profits attributable to owners of parent for the fiscal year ending March 31, 2025. 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 (Changes in specified subsidiaries accompanying change in<br>scope of consolidation): No
(2) Changes in accounting policies, changes in accounting estimates and restatements
--- ---

(A) Changes in accounting policies due to revision of accounting standards: No

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

(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, 2024 12,337,710,920 shares
--- --- ---
March 31, 2023 12,687,710,920 shares
(B) Treasury stocks: March 31, 2024 611,522,914 shares
March 31, 2023 664,065,483 shares
(C) Average outstanding stocks: Fiscal year ended March 31, 2024 11,959,977,563 shares
Fiscal year ended March 31, 2023 12,305,714,018 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.<br>
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 Presentation of Financial Information
Additional Information
Segment Information
Per Share Information<br><br><br>Subsequent Events

Supplemental Information:

“Selected Financial Information under Japanese GAAP For the Fiscal Year Ended March 31, 2024”

(*) 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, 2024 (Wednesday)
--- ---
Explanation for investors and analysts: May 17, 2024 (Friday)

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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, 2024)

Consolidated gross profits for the fiscal year ended March 31, 2024 increased 229.5 billion yen from the previous fiscal year to 4,732.5 billion yen. This was due to an increase in net fees and commissions mainly from overseas business and an increase in net other operating profits resulting from decrease of net losses on debt securities through rebalancing the bond portfolio, partially offset by an decrease in net interest income due to the absence of gains on investment trusts cancellation included in the previous year and the impact of the sale of MUFG Union Bank, N.A. General and administrative expenses decreased 19.9 billion yen from the previous fiscal year to 2,888.7 billion yen, mainly due to the impact of the sale of MUFG Union Bank, N.A. As a result, net operating profits increased 249.4 billion yen from the previous fiscal year to 1,843.7 billion yen.

Total credit costs decreased 176.9 billion yen from the previous fiscal year to 497.9 billion yen, mainly due to the absence of valuation losses on loans held by MUFG Union Bank, N.A., included in the previous fiscal year. Other non-recurring gains improved 491.5 billion yen from the previous fiscal year, mainly due to the absence of valuation losses on bonds held by MUFG Union Bank, N.A., included in the previous fiscal year. As a result, ordinary profits for the fiscal year ended March 31, 2024 increased 1,107.2 billion yen from the previous fiscal year to 2,127.9 billion yen. Net extraordinary losses decreased 627.0 billion yen from the previous fiscal year, mainly due to the absence of gains on the sale of MUFG Union Bank, N.A., included in the previous fiscal year. As a result, profits attributable to owners of parent for the fiscal year ended March 31, 2024 was 1,490.7 billion yen, an increase of 374.2 billion yen from the previous fiscal year.

(in billions of Japanese yen) For the fiscal yearended  March 31, 2024 For the fiscal yearended  March 31, 2023 Increase(Decrease)
Gross profits before credit costs for trust accounts 4,732.5 4,503.0 229.5
General and administrative expenses 2,888.7 2,908.7 (19.9 )
Net operating profits before credit costs for trust accounts and provision for general allowance<br>for credit losses 1,843.7 1,594.2 249.4
Total credit costs (497.9 ) (674.8 ) 176.9
Net gains (losses) on equity securities 371.2 288.0 83.2
Equity in earnings of equity method investees 531.8 425.8 105.9
Other non-recurring gains (losses) (120.9 ) (612.5 ) 491.5
Ordinary profits 2,127.9 1,020.7 1,107.2
Net extraordinary gains (losses) (77.8 ) 549.1 (627.0 )
Total taxes 478.3 369.6 108.7
Profits attributable to non-controlling interests 80.9 83.8 (2.8 )
Profits attributable to owners of parent 1,490.7 1,116.4 374.2

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Mitsubishi UFJ Financial Group, Inc.

(2) Analysis of financial condition

Total assets as of March 31, 2024 increased 16,903.6 billion yen from March 31, 2023 to 403,703.1 billion yen, and total net assets as of March 31, 2024 increased 2,474.1 billion yen from March 31, 2023 to 20,746.9 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, 2024 increased 7,679.3 billion yen from March 31, 2023 to 116,825.6 billion yen and securities as of March 31, 2024 increased 131.6 billion yen from March 31, 2023 to 86,878.5 billion yen. With regard to major items of liabilities, deposits as of March 31, 2024 increased 10,425.5 billion yen from March 31, 2023 to 224,035.0 billion yen.

2. BasicViews 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.

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Mitsubishi UFJ Financial Group, Inc.

3. Consolidated Financial Statements and Notes

(1) Consolidated Balance Sheets

(in millions of yen) As of    March 31, 2023 As of    March 31, 2024
Assets:
Cash and due from banks 113,630,172 109,875,097
Call loans and bills bought 618,223 720,879
Receivables under resale agreements 14,000,846 18,367,908
Receivables under securities borrowing transactions 4,549,792 5,010,399
Monetary claims bought 7,325,185 7,786,978
Trading assets 18,013,184 20,886,546
Money held in trust 1,287,020 1,270,815
Securities 86,746,900 86,878,589
Loans and bills discounted 109,146,272 116,825,660
Foreign exchanges 2,300,198 2,496,308
Other assets 15,195,896 17,912,498
Tangible fixed assets 1,220,172 1,229,007
Buildings 286,879 281,807
Land 629,782 625,557
Lease assets 12,390 15,517
Construction in progress 34,649 29,264
Other tangible fixed assets 256,469 276,860
Intangible fixed assets 1,358,124 1,671,372
Software 555,235 611,287
Goodwill 252,009 405,629
Lease assets 17 26
Other intangible fixed assets 550,862 654,429
Net defined benefit assets 1,325,434 1,982,502
Deferred tax assets 322,021 156,673
Customers’ liabilities for acceptances and guarantees 11,005,758 12,167,164
Allowance for credit losses (1,245,727 ) (1,535,253 )
Total assets 386,799,477 403,703,147

4

Mitsubishi UFJ Financial Group, Inc.

(in millions of yen) As of    March 31, 2023 As of    March 31, 2024
Liabilities:
Deposits 213,609,501 224,035,035
Negotiable certificates of deposit 13,632,559 16,555,451
Call money and bills sold 3,449,234 5,125,583
Payables under repurchase agreements 39,982,955 35,482,072
Payables under securities lending transactions 1,171,947 1,047,194
Commercial papers 2,220,723 3,105,779
Trading liabilities 14,716,820 16,729,760
Borrowed money 24,856,340 25,955,961
Foreign exchanges 2,570,412 3,465,919
Short-term bonds payable 1,047,499 1,211,769
Bonds payable 15,708,720 16,303,298
Due to trust accounts 11,689,414 7,387,495
Other liabilities 12,132,972 13,312,715
Reserve for bonuses 196,850 243,372
Reserve for bonuses to directors 3,639 2,629
Reserve for stocks payment 9,304 13,331
Net defined benefit liabilities 86,445 102,155
Reserve for retirement benefits to directors 830 822
Reserve for loyalty award credits 17,962 17,809
Reserve for contingent losses 164,891 133,860
Reserves under special laws 4,659 5,058
Deferred tax liabilities 157,651 465,295
Deferred tax liabilities for land revaluation 89,525 86,631
Acceptances and guarantees 11,005,758 12,167,164
Total liabilities 368,526,620 382,956,169
Net assets:
Capital stock 2,141,513 2,141,513
Capital surplus 349,661 83,623
Retained earnings 12,739,228 13,791,608
Treasury stock (481,091 ) (613,823 )
Total shareholders’ equity 14,749,310 15,402,921
Net unrealized gains (losses) on available-for-sale securities 800,955 1,534,094
Net deferred gains (losses) on hedging instruments (387,079 ) (687,476 )
Land revaluation excess 135,526 133,967
Foreign currency translation adjustments 1,792,840 2,762,818
Remeasurements of defined benefit plans 140,485 507,085
Debt value adjustments of foreign subsidiaries and affiliates (747 ) (65,435 )
Total accumulated other comprehensive income 2,481,980 4,185,052
Subscription rights to shares — 0
Non-controlling interests 1,041,565 1,159,003
Total net assets 18,272,857 20,746,978
Total liabilities and net assets 386,799,477 403,703,147

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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 yearended    March 31, 2023 For the fiscal yearended    March 31, 2024
Ordinary income 9,281,027 11,890,350
Interest income 5,298,944 7,468,679
Interest on loans and bills discounted 2,810,147 3,969,660
Interest and dividends on securities 1,452,461 1,372,086
Interest on call loans and bills bought 19,104 31,822
Interest on receivables under resale agreements 111,940 421,537
Interest on receivables under securities borrowing transactions 43,509 125,323
Interest on deposits 364,406 709,392
Other interest income 497,373 838,856
Trust fees 140,637 139,363
Fees and commissions 1,883,428 2,047,232
Trading income 373,347 368,172
Other operating income 631,365 679,329
Other ordinary income 953,304 1,187,572
Gains on loans written-off 96,569 101,726
Others 856,735 1,085,846
Ordinary expenses 8,260,299 9,762,391
Interest expenses 2,372,735 5,011,105
Interest on deposits 887,987 1,929,404
Interest on negotiable certificates of deposit 283,076 681,823
Interest on call money and bills sold 3,173 1,718
Interest on payables under repurchase agreements 454,200 1,065,167
Interest on payables under securities lending transactions 2,193 22,801
Interest on commercial papers 78,041 164,313
Interest on borrowed money 61,677 114,617
Interest on short-term bonds payable 135 362
Interest on bonds payable 355,003 470,099
Other interest expenses 247,246 560,796
Fees and commissions 328,660 365,940
Trading expenses 284 —
Other operating expenses 1,622,838 593,515
General and administrative expenses 2,969,325 2,920,875
Other ordinary expenses 966,453 870,954
Provision for allowance for credit losses 225,416 377,978
Others 741,037 492,975
Ordinary profits 1,020,728 2,127,958

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Mitsubishi UFJ Financial Group, Inc.

(in millions of yen) For the fiscal yearended    March 31, 2023 For the fiscal yearended    March 31, 2024
Extraordinary gains 715,667 19,738
Gains on disposition of fixed assets 16,157 19,621
Gains on change in equity — 117
Gains on sales of shares of subsidiaries 699,509 —
Extraordinary losses 166,472 97,593
Losses on disposition of fixed assets 17,076 15,027
Losses on impairment of fixed assets 18,167 31,108
Provision for reserve for contingent liabilities from financial instruments transactions 2 399
Losses on change in equity 23,711 50,964
Losses on sales of shares of subsidiaries — 93
Losses on pension buyout 78,111 —
Losses on sales of shares of affiliates 29,401 —
Profits before income taxes 1,569,923 2,050,104
Income taxes-current 436,968 411,857
Income taxes-deferred (67,361 ) 66,485
Total taxes 369,607 478,342
Profits 1,200,316 1,571,761
Profits attributable to non-controlling interests 83,820 80,979
Profits attributable to owners of parent 1,116,496 1,490,781

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Mitsubishi UFJ Financial Group, Inc.

Consolidated Statements of Comprehensive Income

(in millions of yen) For the fiscal yearended    March 31, 2023 For the fiscal yearended    March 31, 2024
Profits 1,200,316 1,571,761
Other comprehensive income
Net unrealized gains (losses) on<br>available-for-sale securities (676,883 ) 706,097
Net deferred gains (losses) on hedging instruments (315,870 ) (297,162 )
Foreign currency translation adjustments 701,427 587,606
Remeasurements of defined benefit plans (54,790 ) 369,769
Share of other comprehensive income of associates accounted for using equity method 304,600 378,446
Total other comprehensive income (41,515 ) 1,744,757
Comprehensive income 1,158,800 3,316,519
(Comprehensive income attributable to)
Comprehensive income attributable to owners of parent 1,038,465 3,195,413
Comprehensive income attributable to non-controlling<br>interests 120,335 121,106

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Mitsubishi UFJ Financial Group, Inc.

(3) Consolidated Statements of Changes in Net Assets

For the fiscal year ended March 31, 2023

(in millions of yen)
Shareholders’ equity Accumulated othercomprehensive income
Capital stock Capital surplus Retainedearnings Treasury stock Totalshareholders’equity Net unrealizedgains (losses) onavailable-for-sale securities Net deferredgains (losses) onhedginginstruments
Balance at the beginning of the period 2,141,513 770,277 11,998,157 (451,288 ) 14,458,659 1,615,060 (81,145 )
Cumulative effects of changes in accounting policies — —
Restated balance 2,141,513 770,277 11,998,157 (451,288 ) 14,458,659 1,615,060 (81,145 )
Changes during the period
Cash dividends (380,528 ) (380,528 )
Profits attributable to owners of parent 1,116,496 1,116,496
Repurchase of treasury stock (450,018 ) (450,018 )
Disposal of treasury stock 0 2,118 2,118
Retirement of treasury stock (418,097 ) 418,097 —
Reversal of land revaluation excess 5,102 5,102
Changes in subsidiaries’ equity 1,510 1,510
Change from transaction under common control involving overseas subsidiary (4,028 ) (4,028 )
Net changes of items other than shareholders’ equity (814,104 ) (305,933 )
Total changes during the period — (420,616 ) 741,070 (29,802 ) 290,651 (814,104 ) (305,933 )
Balance at the end of the period 2,141,513 349,661 12,739,228 (481,091 ) 14,749,310 800,955 (387,079 )
(in millions of yen)
Accumulated other comprehensive income Non-controllinginterests Total net assets
Landrevaluationexcess Foreigncurrencytranslationadjustments Remeasurementsof definedbenefit plans Debt valueadjustments offoreignsubsidiaries andaffiliates Totalaccumulatedothercomprehensiveincome
Balance at the beginning of the period 140,628 734,588 193,865 (37,883 ) 2,565,114 964,471 17,988,245
Cumulative effects of changes in accounting policies — —
Restated balance 140,628 734,588 193,865 (37,883 ) 2,565,114 964,471 17,988,245
Changes during the period
Cash dividends (380,528 )
Profits attributable to owners of parent 1,116,496
Repurchase of treasury stock (450,018 )
Disposal of treasury stock 2,118
Retirement of treasury stock —
Reversal of land revaluation excess 5,102
Changes in subsidiaries’ equity 1,510
Change from transaction under common control involving overseas subsidiary (4,028 )
Net changes of items other than shareholders’ equity (5,102 ) 1,058,251 (53,380 ) 37,136 (83,133 ) 77,094 (6,039 )
Total changes during the period (5,102 ) 1,058,251 (53,380 ) 37,136 (83,133 ) 77,094 284,612
Balance at the end of the period 135,526 1,792,840 140,485 (747 ) 2,481,980 1,041,565 18,272,857

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Mitsubishi UFJ Financial Group, Inc.

For the fiscal year ended March 31, 2024

(in millions of yen)
Shareholders’ equity Accumulated othercomprehensive income
Capital stock Capital surplus Retainedearnings Treasurystock Totalshareholders’equity Net unrealizedgains (losses)onavailable-for-salesecurities Net deferredgains (losses) onhedginginstruments
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 Subscriptionrights toshares Non-controllinginterests Total netassets
Landrevaluationexcess Foreigncurrencytranslationadjustments Remeasurementsof definedbenefit plans Debt valueadjustments offoreignsubsidiaries andaffiliates Totalaccumulatedothercomprehensiveincome
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

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Mitsubishi UFJ Financial Group, Inc.

(4) Consolidated Statements of Cash Flows

(in millions of yen) For the fiscal year ended    March 31, 2023 For the fiscal year ended    March 31, 2024
Cash flows from operating activities:
Profits before income taxes 1,569,923 2,050,104
Depreciation and amortization 314,708 340,137
Impairment losses 18,167 31,108
Amortization of goodwill 19,928 22,230
Equity in losses (gains) of equity method investees (425,829 ) (531,803 )
Losses on pension buyout 78,111 —
Increase (decrease) in allowance for credit losses (32,780 ) 224,881
Increase (decrease) in reserve for bonuses 71,053 34,279
Increase (decrease) in reserve for bonuses to directors 1,727 (1,239 )
Increase (decrease) in reserve for stocks payment 866 4,027
Decrease (increase) in net defined benefit assets (53,774 ) (481,644 )
Increase (decrease) in net defined benefit liabilities 123 7,404
Increase (decrease) in reserve for retirement benefits to directors 17 (7 )
Increase (decrease) in reserve for loyalty award credits (213 ) (1,077 )
Increase (decrease) in reserve for contingent losses (64,789 ) (32,296 )
Interest income recognized on statement of income (5,298,944 ) (7,468,679 )
Interest expenses recognized on statement of income 2,372,735 5,011,105
Losses (gains) on securities 481,930 79,574
Losses (gains) on money held in trust 6,088 76,366
Foreign exchange losses (gains) (2,255,057 ) (4,994,338 )
Losses (gains) on sales of fixed assets 918 (4,594 )
Net decrease (increase) in trading assets (42,347 ) (2,288,718 )
Net increase (decrease) in trading liabilities 2,219,838 1,387,039
Adjustment of unsettled trading accounts (651,611 ) (206,076 )
Net decrease (increase) in loans and bills discounted (4,211,367 ) (6,763,304 )
Net increase (decrease) in deposits 7,118,314 9,410,399
Net increase (decrease) in negotiable certificates of deposit 2,869,240 2,903,887
Net increase (decrease) in borrowed money (excluding subordinated borrowings) (6,264,775 ) 920,095
Net decrease (increase) in call loans and bills bought and others (1,804,036 ) (4,059,830 )
Net decrease (increase) in receivables under securities borrowing transactions 153,662 (281,434 )
Net increase (decrease) in call money and bills sold and others 12,597,828 (3,720,809 )
Net increase (decrease) in commercial papers 179,650 885,347
Net increase (decrease) in payables under securities lending transactions 83,926 (125,534 )
Net decrease (increase) in foreign exchanges (assets) (3,533 ) (170,240 )
Net increase (decrease) in foreign exchanges (liabilities) 389,405 895,169
Net increase (decrease) in short-term bonds payable (269,304 ) 164,270
Net increase (decrease) in issuance and redemption of unsubordinated bonds payable 2,595,987 (295,231 )
Net increase (decrease) in due to trust accounts (1,121,708 ) (4,301,919 )
Interest income (cash basis) 4,923,477 7,250,761
Interest expenses (cash basis) (2,098,922 ) (4,851,903 )
Others 440,666 (435,455 )
Sub-total 13,909,305 (9,317,949 )
Income taxes (549,466 ) (607,135 )
Refund of income taxes 71,934 80,225
Net cash provided by (used in) operating activities 13,431,773 (9,844,860 )

11

Mitsubishi UFJ Financial Group, Inc.

(in millions of yen) For the fiscal year ended    March 31, 2023 For the fiscal year ended    March 31, 2024
Cash flows from investing activities:
Purchases of securities (103,993,341 ) (92,819,270 )
Proceeds from sales of securities 58,441,528 64,100,921
Proceeds from redemption of securities 36,986,139 33,333,232
Payments for increase in money held in trust (1,040,424 ) (1,378,121 )
Proceeds from decrease in money held in trust 1,075,874 1,333,026
Purchases of tangible fixed assets (118,147 ) (129,650 )
Purchases of intangible fixed assets (283,478 ) (333,157 )
Proceeds from sales of tangible fixed assets 46,360 78,282
Proceeds from sales of intangible fixed assets 180 568
Proceeds from transfer of businesses — 5,070
Payments for acquisition of subsidiaries’ equity affecting the scope of<br>consolidation — (205,797 )
Payments for sales of subsidiaries’ equity affecting the scope of consolidation (1,784,755 ) —
Proceeds from sales of subsidiaries’ equity affecting the scope of consolidation — 4,406
Others (5,032 ) (3,092 )
Net cash provided by (used in) investing activities (10,675,096 ) 3,986,415
Cash flows from financing activities:
Proceeds from subordinated borrowings 29,000 123,000
Repayments of subordinated borrowings (28,000 ) (68,000 )
Proceeds from issuance of subordinated bonds payable and bonds with warrants 670,246 992,021
Payments for redemption of subordinated bonds payable and bonds with warrants (787,754 ) (155,290 )
Proceeds from issuance of common stock to non-controlling<br>shareholders 227 945
Repayments to non-controlling shareholders — (216 )
Dividends paid by MUFG (380,447 ) (439,755 )
Dividends paid by subsidiaries to non-controlling<br>shareholders (32,050 ) (44,946 )
Purchases of treasury stock (450,153 ) (400,156 )
Proceeds from sales of treasury stock 2,237 2,297
Payments for purchases of subsidiaries’ equity not affecting the scope of<br>consolidation (444 ) (1,592 )
Net cash provided by (used in) financing activities (977,138 ) 8,307
Effect of foreign exchange rate changes on cash and cash equivalents 1,089,328 2,090,467
Net increase (decrease) in cash and cash equivalents 2,868,867 (3,759,669 )
Cash and cash equivalents at the beginning of the period 110,763,205 113,630,172
Increase in cash and cash equivalents resulting from inclusion of subsidiaries in<br>consolidation — 4,595
Decrease in cash and cash equivalents resulting from exclusion of subsidiaries from<br>consolidation (1,900 ) —
Cash and cash equivalents at the end of the period 113,630,172 109,875,097

12

Mitsubishi UFJ Financial Group, Inc.

Notes to the Consolidated Financial Statements

(Notes on Going-Concern Assumption)

None.

(Changes in Presentation of Financial Information)

“Refund of income taxes”, which was previously presented separately from “Income taxes”, on a disaggregated basis for the fiscal year ended March 31, 2023, is included in “Income taxes” on a net basis from the fiscal year ended March 31, 2024 due to the decreased significance in the recorded amount. In order to reflect this change in presentation, the consolidated financial statements for the fiscal year ended March 31, 2023 have been reclassified.

As a result, “Income taxes” of ¥493,256 million and “Refund of income taxes” of ¥(56,288) million previously presented in the consolidated statement of income for the fiscal year ended March 31, 2023 have been aggregated on a net basis and reclassified into “Income taxes” of ¥436,968 million.

(Additional Information)

(Information that is relevant to readers’ understanding 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 providing for 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.

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 based on future projections and other factors to the loss rate calculated based on historical loss experience, when and to the extent such adjustments are deemed appropriate by, for example, considering any additional expected loss amount not reflected in such loss rate calculated based on historical loss experience, especially in light of the Russia-Ukraine situation. The amount of impact of these adjustments as of the end of the current fiscal year is 42,492 million yen (69,569 million yen as of March 31, 2023). Given that actual loss information after the expansion of COVID-19 has been accumulated and the impact of COVID-19 is reflected in the loss rates calculated based on historical loss experience, starting in the second quarter of the fiscal year ended March 31, 2024, no adjustments are made based on future projections that take into account the rate of increase in the credit loss rate or the default probability in a recent period.

13

Mitsubishi UFJ Financial Group, Inc.

In addition, certain overseas subsidiaries which apply Generally Accepted Accounting Principles in the United States (“U.S. GAAP”) have adopted Accounting Standards Codification (“ASC”) Topic 326, “Financial Instruments—Credit losses,” and provide for allowance for credit losses by estimating credit losses currently expected for the remaining term of the relevant contracts. Expected credit losses are calculated using a quantitative model that reflects economic forecast scenarios based on macroeconomic variables. The calculation process includes 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 there to for qualitative factors, by certain subsidiaries which apply U.S. GAAP, are based on estimation relating to the economic environment, including changes in economic conditions, commodity prices and monetary policy 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 are subject to significant uncertainty. Accordingly, we make certain assumptions, including that the current Russia-Ukraine situation continues for a while. The recorded allowance represents our best estimate made in a manner designed to ensure objectivity and rationality.

These assumptions change to reflect the Russia-Ukraine situation, and changes in the assumptions may result in an 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 equity-method affiliate)

Morgan Stanley, a significant equity-method affiliate of MUFG, closes its financial accounts based on a fiscal year-end of December 31 and, previously, the equity method of accounting was applied to Morgan Stanley’s consolidated financial statements as of the end of Morgan Stanley’s fiscal year. However, from the perspective of providing financial information in a more timely manner, MUFG has decided to make modifications so that, effective from the fiscal year ended March 31, 2024, the equity method of accounting is to applied to Morgan Stanley based on a provisional closing of accounts implemented as of March 31, which is the end of MUFG’s fiscal year.

Accordingly, for the fiscal year ended March 31, 2024, the equity method of accounting has been applied to Morgan Stanley’s consolidated financial statements for the fifteen-month period from January 1, 2023 to March 31, 2024 based on a provisional closing of accounts, and the impact of implementation of such provisional closing of accounts has been reflected in MUFG’s consolidated financial statements from the beginning of the fiscal year ended March 31, 2024.

For the period from January 1, 2023 to March 31, 2023, equity in earnings of the equity method investees related to Morgan Stanley is 106,161 million yen, losses on change in equity related to Morgan Stanley is 22,058 million yen, and share of other comprehensive income of associates accounted for using equity method related to Morgan Stanley included in other comprehensive income is 406,491 million yen.

(Provisional closing of accounts of a significant subsidiary planned for the fiscal year ending March 31, 2025)

Bank of Ayudhya Public Company Limited(“Krungsri”), a significant subsidiary of MUFG, closes its financial accounts based on a fiscal year-end of December 31, and is consolidated based on its consolidated financial statements as of the December 31 fiscal year-end.

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 March 31, which is MUFG’s fiscal year-end, effective from the beginning of the fiscal year ending March 31, 2025.

Accordingly, for the fiscal year ending March 31, 2025, Krungsri’s financial results for the 15-month period from January 1, 2024 to March 31, 2025 are expected to be reflected in MUFG’s consolidated financial statements.

15

Mitsubishi UFJ Financial Group, Inc.

(Segment Information)

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

For the Fiscal Year Ended March 31, 2024

(in millions of yen)
DigitalServiceBusinessGroup Retail &CommercialBankingBusinessGroup JapaneseCorporate&InvestmentBankingBusinessGroup GlobalCommercialBankingBusinessGroup AssetManagement& InvestorServicesBusinessGroup GlobalCorporate&InvestmentBankingBusinessGroup Total ofCustomerBusiness GlobalMarketsBusinessGroup Other Total
Net revenue 782,544 709,398 1,013,680 684,992 432,311 863,065 4,485,994 323,387 (37,592 ) 4,771,789
Operating expenses 536,613 463,978 343,839 382,862 307,305 361,391 2,395,990 300,033 232,871 2,928,896
Operating profit (loss) 245,931 245,419 669,841 302,130 125,005 501,674 2,090,003 23,353 (270,463 ) 1,842,893
Fixed assets at period end 186,829 228,577 169,234 1,636 21,246 170,905 778,429 114,297 502,246 1,394,973

(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 ¥1,505,407 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 endedMarch 31, 2024
--- --- --- ---
Total operating profit of reporting segments 1,842,893
Operating profit of consolidated subsidiaries excluded from reporting segments (373 )
Provision for general allowance for credit losses (6,723 )
Credit related expenses (592,913 )
Gains on loans written-off 101,726
Net gains on equity securities and other securities 371,274
Equity in earnings of equity method investees 531,803
Others (119,727 )
Ordinary profit in the consolidated statement of income 2,127,958

16

Mitsubishi UFJ Financial Group, Inc.

(Per Share Information)

For the fiscal year endedMarch 31, 2024
Total equity per common share ¥ 1,670.44
Basic earnings per common share ¥ 124.64
Diluted earnings per common share ¥ 124.32

(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 31,2024
--- --- ---
Basic earnings per common share
Profits attributable to owners of parent million yen 1,490,781
Profits not attributable to common shareholders million yen —
Profits attributable to common shareholders of parent million yen 1,490,781
Average number of common shares during the period thousand shares 11,959,977
Diluted earnings per common share
Adjustment to profits attributable to owners of parent million yen (3,807)
Adjustment related to dilutive shares of consolidated subsidiaries and others million yen (3,807)
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><br>Morgan Stanley<br> <br>Stock options and others<br><br><br>- 0 million units as of March 31, 2024
2. The bases for the calculation of total equity per common share for the period indicated were as follows:<br>
--- ---
As of March 31, 2024
--- --- ---
Total equity million yen 20,746,978
Deductions from total equity: million yen 1,159,004
Subscription rights to shares million yen 0
Non-controlling interests million yen 1,159,003
Total equity attributable to common shares million yen 19,587,974
Number of common shares at period end used for the calculation of total equity per common<br>share thousand shares 11,726,188

17

Mitsubishi UFJ Financial Group, Inc.

(Subsequent Events)

None.

18

Selected Financial Information

under Japanese GAAP

For the Fiscal Year Ended March 31, 2024

Mitsubishi UFJ Financial Group, Inc.

Mitsubishi UFJ Financial Group, Inc.

[Contents]

1.  Financial Results [ MUFG Consolidated ]*1[ BK and TB Combined ]*2*3*4<br><br><br>[ BK Consolidated ][ BK Non-consolidated ]<br><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 forHedge-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><br>[ BK Non-consolidated ][ TB Non-consolidated ] 13
7.  Loans to Be Disclosed under the Banking Act and the Financial ReconstructionAct (the “FRA”) [ MUFG Consolidated ][ BK and TB Combined including Trust Account ]<br><br><br>[ BK Non-consolidated ][ TB Non-consolidated ]<br><br><br>[ TB Non-consolidated : Trust Account ] 14
8.  Progress in Disposition of Problem Assets [ BK Non-consolidated ]<br><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><br>[ BK Non-consolidated ][ TB Non-consolidated ]<br><br><br>[ TB Non-consolidated : Trust Accounts ] 22
10   Domestic Consumer Loans, Domestic Loans to Small/Medium-Sized Companies and Proprietors [ BK Non-consolidated ]<br><br><br>[ TB Non-consolidated including Trust Account ] 26
11.  Overseas Loans [ BK Consolidated excl. KS, BDI ]*5*6 27
12.  Loans and Deposits [ BK and TB Combined ]<br><br><br>[ BK Non-consolidated ][ TB Non-consolidated ] 28
13.  Domestic Deposits [ BK and TB Combined ]<br><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><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
Increase
March 31, 2023(B) (Decrease)   (A) - (B)
Gross profits 4,732,524 **** 4,503,008 229,515
Gross profits before credit costs for trust accounts 4,732,519 **** 4,503,008 229,510
Net interest income 2,457,882 **** 2,907,511 (449,629 )
Trust fees 139,363 **** 140,637 (1,274 )
Credit costs for trust accounts (1) 4 **** — 4
Net fees and commissions 1,681,291 **** 1,554,767 126,524
Net trading profits 368,172 **** 372,093 (3,920 )
Net other operating profits 85,813 **** (472,001 ) 557,815
Net gains (losses) on debt securities (450,755 ) (884,618 ) 433,862
General and administrative expenses 2,888,747 **** 2,908,709 (19,962 )
Amortization of goodwill 22,230 **** 19,928 2,302
Net operating profits before credit costs for trust accounts, provision for general allowance for<br>credit losses and amortization of goodwill 1,866,003 **** 1,614,227 251,775
Net operating profits before credit costs for trust accounts and provision for general allowance<br>for credit losses 1,843,772 **** 1,594,299 249,472
Provision for general allowance for credit losses (2) (6,723 ) (36,608 ) 29,884
Net operating profits*1 1,837,053 **** 1,557,691 279,361
Net non-recurring gains (losses) 290,905 **** (536,963 ) 827,868
Credit costs (3) (592,913 ) (746,353 ) 153,439
Losses on loan write-offs*2 (193,119 ) (547,783 ) 354,663
Provision for specific allowance for credit losses (387,362 ) (197,561 ) (189,801 )
Other credit costs (12,432 ) (1,009 ) (11,422 )
Reversal of allowance for credit losses (4) — **** — —
Reversal of reserve for contingent losses included in credit costs (5) — **** 11,550 (11,550 )
Gains on loans written-off (6) 101,726 **** 96,569 5,156
Net gains (losses) on equity securities 371,274 **** 288,000 83,274
Gains on sales of equity securities 452,125 **** 332,747 119,377
Losses on sales of equity securities (70,673 ) (28,796 ) (41,877 )
Losses on write-down of equity securities (10,177 ) (15,950 ) 5,773
Equity in earnings of equity method investees 531,803 **** 425,829 105,973
Other non-recurring gains (losses)*2 (120,985 ) (612,559 ) 491,574
Ordinary profits 2,127,958 **** 1,020,728 1,107,230
Net extraordinary gains (losses) (77,854 ) 549,195 (627,049 )
Net gains (losses) on disposition of fixed assets 4,594 **** (918 ) 5,513
Losses on impairment of fixed assets (31,108 ) (18,167 ) (12,940 )
Net gains (losses) sales of shares of subsidiaries*3 (93 ) 699,509 (699,603 )
Net gains (losses) on change in equity (50,847 ) (23,711 ) (27,135 )
Net gains (losses) on sales of shares of affiliates — **** (29,401 ) 29,401
Losses on pension buyout — **** (78,111 ) 78,111
Profits before income taxes 2,050,104 **** 1,569,923 480,180
Income taxes-current 411,857 **** 436,968 (25,111 )
Income taxes-deferred 66,485 **** (67,361 ) 133,847
Total taxes 478,342 **** 369,607 108,735
Profits 1,571,761 **** 1,200,316 371,444
Profits attributable to non-controlling interests 80,979 **** 83,820 (2,840 )
Profits attributable to owners of parent 1,490,781 **** 1,116,496 374,285
Note:
*1.  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
*2.  In connection with the planned sale of the shares in MUFG Union<br>Bank, N.A. (“MUB”), an aggregate of 952,590 million of losses were recognized for the fiscal year ended March 31, 2023, primarily in accordance with Accounting Standards Codification (“ASC”) Topic 326,<br>“Financial Instruments—Credit losses,” and ASC Topic 310, “Receivables.” These losses consist mainly of 555,421 million of valuation losses related to securities held for sale, which are included in Other non-recurring gains (losses), and 400,511 million of valuation losses related to loans held for sale, which are included in Losses on loan write-offs.
*3.  “Net gains (losses) sales of shares of subsidiaries” for<br>the fiscal year ended March 31, 2023, includes 699,509 million of gains on sales of shares of subsidiaries resulting from the sale of the shares in MUB.
(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6) (497,907 ) (674,842 ) 176,935
Number of consolidated subsidiaries 253 **** 246 7
Number of affiliated companies accounted for under the equity method 51 **** 46 5

All values are in Japanese Yen.

1

Mitsubishi UFJ Financial Group, Inc.

BK and TB Combined

(in millions of yen)
For the fiscal year ended Increase
March 31, 2024(A) March 31, 2023(B) (Decrease)   (A) - (B)
Gross profits **** 2,565,957 **** 2,150,510 415,447
Gross profits before credit costs for trust accounts **** 2,565,953 **** 2,150,510 415,443
Domestic gross profits **** 1,179,786 **** 1,129,899 49,887
Net interest income **** 772,653 **** 734,884 37,768
Trust fees **** 120,757 **** 111,924 8,833
Credit costs for trust accounts (1) **** 4 **** — 4
Net fees and commissions **** 375,410 **** 358,002 17,407
Net trading profits **** (6,719 ) (9,246 ) 2,527
Net other operating profits **** (82,315 ) (65,666 ) (16,649 )
Net gains (losses) on debt securities **** (104,859 ) (102,278 ) (2,581 )
Non-domestic gross profits **** 1,386,170 **** 1,020,610 365,559
Net interest income **** 844,261 **** 1,119,761 (275,500 )
Net fees and commissions **** 389,191 **** 266,557 122,633
Net trading profits **** 102,432 **** 65,846 36,586
Net other operating profits **** 50,285 **** (431,555 ) 481,841
Net gains (losses) on debt securities **** (345,043 ) (780,359 ) 435,316
General and administrative expenses **** 1,520,862 **** 1,350,891 169,971
Personnel expenses **** 641,143 **** 476,225 164,917
Non-personnel expenses **** 809,960 **** 800,355 9,605
Taxes **** 69,759 **** 74,311 (4,552 )
Net operating profits before credit costs for trust accounts and provision for general allowance<br>for credit losses **** 1,045,090 **** 799,618 245,471
Provision for general allowance for credit losses (2) **** 5,767 **** (40,374 ) 46,142
Net operating profits **** 1,050,862 **** 759,243 291,619
Net non-recurring gains (losses) **** 29,492 **** 315,640 (286,148 )
Credit costs (3) **** (283,016 ) (88,696 ) (194,319 )
Reversal of allowance for credit losses (4) **** 85 **** — 85
Reversal of reserve for contingent losses included in credit costs (5) **** — **** 9,798 (9,798 )
Gains on loans written-off (6) **** 26,723 **** 20,450 6,272
Net gains (losses) on equity securities **** 363,467 **** 286,114 77,353
Gains on sales of equity securities **** 442,142 **** 322,193 119,948
Losses on sales of equity securities **** (71,983 ) (27,596 ) (44,386 )
Losses on write-down of equity securities **** (6,691 ) (8,482 ) 1,790
Other non-recurring gains (losses) **** (77,768 ) 87,973 (165,742 )
Ordinary profits **** 1,080,354 **** 1,074,883 5,470
Net extraordinary gains (losses) **** (10,463 ) 330,501 (340,965 )
Net gains (losses) on disposition of fixed assets **** 657 **** (2,278 ) 2,935
Losses on impairment of fixed assets **** (20,405 ) (10,125 ) (10,280 )
Gains on sales of shares of subsidiaries* **** 4,863 **** 415,106 (410,243 )
Gains on extinguishment of tie-in shares **** 4,319 **** — 4,319
Gains on negative goodwill **** — **** 11,040 (11,040 )
Losses on sales of shares of affiliates **** — **** (5,248 ) 5,248
Losses on pension buyout **** — **** (78,111 ) 78,111
Income before income taxes **** 1,069,891 **** 1,405,385 (335,494 )
Income taxes-current **** 257,985 **** 290,586 (32,601 )
Income taxes-deferred **** (50,158 ) (25,200 ) (24,957 )
Total taxes **** 207,826 **** 265,385 (57,558 )
Net income **** 862,064 **** 1,139,999 (277,935 )
Note:<br><br><br>* “Gains on sales of shares of subsidiaries” for the fiscal year ended March 31, 2023, is related<br>to a transaction with MUFG Americas Holdings Corporation (“MUAH”).
(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6) **** (250,434 ) (98,822 ) (151,612 )
Credit costs for trust accounts **** 4 **** — 4
Provision for general allowance for credit losses **** 5,853 **** (40,374 ) 46,228
Provision for special allowance for credit losses **** (237,335 ) (67,550 ) (169,784 )
Allowance for credit to specific foreign borrowers **** 10,752 **** 5,188 5,564
Losses on loans write-offs **** (30,782 ) (15,419 ) (15,362 )
Provision for contingent losses included in credit costs **** (12,763 ) 9,614 (22,378 )
Gains on loans written-off **** 26,723 **** 20,450 6,272
Losses on sales of other loans, etc. **** (12,887 ) (10,731 ) (2,155 )
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 **** 1,494,992 **** 1,682,255 (187,263 )
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 **** 1,396,187 **** 1,126,493 269,693

2

Mitsubishi UFJ Financial Group, Inc.

BK Consolidated
Increase
March 31, 2023(B) (Decrease)   (A) - (B)
Gross profits 3,360,598 **** 3,240,353 120,245
Net interest income 2,145,049 **** 2,388,320 (243,270 )
Trust fees — **** 12,258 (12,258 )
Net fees and commissions 914,290 **** 894,410 19,880
Net trading profits 192,345 **** 130,570 61,775
Net other operating profits 108,912 **** (185,205 ) 294,118
Net gains (losses) on debt securities (375,997 ) (590,505 ) 214,507
General and administrative expenses 1,895,166 **** 2,004,252 (109,086 )
Amortization of goodwill 8,479 **** 7,551 928
Net operating profits before provision for general allowance for credit losses and amortization of<br>goodwill 1,473,911 **** 1,243,652 230,259
Net operating profits before provision for general allowance for credit losses 1,465,432 **** 1,236,100 229,331
Provision for general allowance for credit losses (1) 1,284 **** (34,640 ) 35,924
Net operating profits*1 1,466,716 **** 1,201,460 265,256
Net non-recurring gains (losses) (116,439 ) (914,490 ) 798,051
Credit costs (2) (478,742 ) (646,764 ) 168,022
Losses on loan write-offs*2 (96,866 ) (465,102 ) 368,235
Provision for specific allowance for credit losses (369,443 ) (180,652 ) (188,791 )
Other credit costs (12,432 ) (1,009 ) (11,422 )
Reversal of allowance for credit losses (3) — **** — —
Reversal of reserve for contingent losses included in credit costs (4) — **** 11,551 (11,551 )
Gains on loans written-off (5) 75,872 **** 71,721 4,150
Net gains (losses) on equity securities 285,362 **** 218,639 66,723
Gains on sales of equity securities 363,056 **** 259,129 103,926
Losses on sales of equity securities (70,881 ) (27,516 ) (43,364 )
Losses on write-down of equity securities (6,812 ) (12,974 ) 6,161
Equity in earnings of equity method investees 39,203 **** 36,824 2,378
Other non-recurring gains (losses)*2 (38,135 ) (606,463 ) 568,327
Ordinary profits 1,350,277 **** 286,969 1,063,307
Net extraordinary gains (losses) (21,686 ) 584,103 (605,789 )
Net gains (losses) on disposition of fixed assets 2,373 **** (384 ) 2,757
Losses on impairment of fixed assets (24,059 ) (6,925 ) (17,134 )
Gains on sales of shares of subsidiaries*3 — **** 699,509 (699,509 )
Net gains (losses) on sales of shares of affiliates — **** (29,985 ) 29,985
Losses on pension buyout — **** (78,111 ) 78,111
Profits before income taxes 1,328,591 **** 871,073 457,517
Income taxes-current 328,101 **** 347,320 (19,219 )
Income taxes-deferred 26,974 **** (94,318 ) 121,292
Total taxes 355,075 **** 253,001 102,073
Profits 973,515 **** 618,071 355,444
Profits attributable to non-controlling interests 28,787 **** 16,037 12,749
Profits attributable to owners of parent 944,728 **** 602,034 342,694
Note:
*1.  Net operating profits = Net operating profits of BK + 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
*2.  In connection with the planned sale of the shares in MUB, an<br>aggregate of 952,590 million of losses were recognized for the fiscal year ended March 31, 2023, primarily in accordance with ASC Topic 326, “Financial Instruments—Credit losses,” and ASC Topic 310,<br>“Receivables.” These losses consist mainly of 555,421 million of valuation losses related to securities held for sale, which are included in Other non-recurring gains (losses), and<br>400,511 million of valuation losses related to loans held for sale, which are included in Losses on loan write-offs.
*3.  “Gains on sales of shares of subsidiaries” for the fiscal<br>year ended March 31, 2023, includes 699,509 million of gains on sales of shares of subsidiaries resulting from the sale of the shares in MUB.
(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5) (401,585 ) (598,131 ) 196,546
Number of consolidated subsidiaries 113 **** 108 5
Number of affiliated companies accounted for under the equity method 44 **** 42 2

All values are in Japanese Yen.

3

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(in millions of yen)
For the fiscal year ended Increase
March 31, 2024(A) March 31, 2023(B) (Decrease)   (A) - (B)
Gross profits **** 2,283,668 **** 1,844,033 439,634
Domestic gross profits **** 896,600 **** 843,285 53,315
Net interest income **** 717,094 **** 675,384 41,709
Net fees and commissions **** 268,500 **** 253,364 15,136
Net trading profits **** 2,917 **** 3,005 (87 )
Net other operating profits **** (91,911 ) (88,469 ) (3,442 )
Net gains (losses) on debt securities **** (91,668 ) (97,938 ) 6,270
Non-domestic gross profits **** 1,387,067 **** 1,000,748 386,318
Net interest income **** 778,723 **** 808,355 (29,631 )
Net fees and commissions **** 387,188 **** 265,590 121,598
Net trading profits **** 106,654 **** 75,756 30,898
Net other operating profits **** 114,500 **** (148,953 ) 263,454
Net gains (losses) on debt securities **** (284,229 ) (493,067 ) 208,837
General and administrative expenses **** 1,309,067 **** 1,153,573 155,493
Personnel expenses **** 571,241 **** 413,043 158,198
Non-personnel expenses **** 676,244 **** 674,889 1,355
Amortization of goodwill **** 3,830 **** 2,451 1,379
Taxes **** 61,580 **** 65,641 (4,061 )
Net operating profits before provision for general allowance for credit losses and amortization of<br>goodwill **** 978,432 **** 692,911 285,520
Net operating profits before provision for general allowance for credit losses **** 974,601 **** 690,460 284,141
Provision for general allowance for credit losses (1) **** 5,767 **** (40,334 ) 46,102
Net operating profits **** 980,368 **** 650,125 330,243
Net non-recurring gains (losses) **** 19,402 **** 253,619 (234,217 )
Credit costs (2) **** (282,760 ) (88,507 ) (194,253 )
Reversal of allowance for credit losses (3) **** — **** — —
Reversal of reserve for contingent losses included in credit costs (4) **** — **** 9,798 (9,798 )
Gains on loans written-off (5) **** 26,722 **** 20,450 6,271
Net gains (losses) on equity securities **** 286,136 **** 224,294 61,842
Gains on sales of equity securities **** 360,191 **** 256,280 103,910
Losses on sales of equity securities **** (69,862 ) (25,697 ) (44,165 )
Losses on write-down of equity securities **** (4,191 ) (6,289 ) 2,097
Other non-recurring gains (losses) **** (10,696 ) 87,583 (98,279 )
Ordinary profits **** 999,771 **** 903,744 96,026
Net extraordinary gains (losses) **** (5,010 ) 335,850 (340,860 )
Net gains (losses) on disposition of fixed assets **** 303 **** (1,893 ) 2,196
Losses on impairment of fixed assets **** (14,496 ) (5,043 ) (9,453 )
Gains on sales of shares of subsidiaries* **** 4,863 **** 415,106 (410,243 )
Gains on extinguishment of tie-in shares **** 4,319 **** — 4,319
Gains on negative goodwill **** — **** 11,040 (11,040 )
Losses on sales of shares of affiliates **** — **** (5,248 ) 5,248
Losses on pension buyout **** — **** (78,111 ) 78,111
Income before income taxes **** 994,760 **** 1,239,594 (244,834 )
Income taxes-current **** 244,385 **** 254,747 (10,362 )
Income taxes-deferred **** (53,885 ) (30,607 ) (23,278 )
Total taxes **** 190,499 **** 224,140 (33,640 )
Net income **** 804,260 **** 1,015,454 (211,193 )
Note:
* “Gains on sales of shares of subsidiaries” for the fiscal year<br>ended March 31, 2023, is related to a transaction with MUAH.
(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5) **** (250,270 ) (98,592 ) (151,677 )
Provision for general allowance for credit losses **** 5,767 **** (40,334 ) 46,102
Provision for special allowance for credit losses **** (237,335 ) (67,544 ) (169,791 )
Allowance for credit to specific foreign borrowers **** 10,752 **** 5,188 5,564
Losses on loans write-off **** (30,782 ) (15,419 ) (15,362 )
Provision for contingent losses included in credit costs **** (12,508 ) 9,798 (22,307 )
Gains on loans written-off **** 26,722 **** 20,450 6,271
Losses on sales of other loans, etc. **** (12,887 ) (10,731 ) (2,155 )
Net operating profits before provision for general allowance for credit losses, excluding net<br>gains (losses) on debt securities **** 1,350,498 **** 1,281,465 69,033
Net operating profits before provision for general allowance for credit losses, excluding net<br>gains (losses) on debt securities and investment trusts cancellation **** 1,333,729 **** 974,269 359,459

4

Mitsubishi UFJ Financial Group, Inc.

TB Consolidated

(in millions of yen)
For the fiscal year ended Increase
March 31, 2024(A) March 31, 2023(B) (Decrease)  (A) - (B)
Gross profits **** 591,268 **** 549,851 41,417
Gross profits before credit costs for trust accounts **** 591,264 **** 549,851 41,413
Trust fees **** 139,740 **** 128,802 10,938
Trust fees before credit costs for trust accounts **** 139,736 **** 128,802 10,933
Money trusts fees (Jointly operated designated money trusts before credit costs for trust<br>account) **** 16,537 **** 15,035 1,501
Other trust fees **** 123,198 **** 113,766 9,432
Credit costs for trust accounts (1) **** 4 **** — 4
Net interest income **** 130,455 **** 352,384 (221,929 )
Net fees and commissions **** 367,843 **** 324,161 43,682
Net trading profits **** (11,307 ) (20,155 ) 8,848
Net other operating profits **** (35,463 ) (235,340 ) 199,877
Net gains (losses) on debt securities **** (74,029 ) (291,736 ) 217,707
General and administrative expenses **** 459,133 **** 399,994 59,139
Amortization of goodwill **** 13,747 **** 12,403 1,344
Net operating profits before credit costs for trust accounts, provision for general allowance for<br>credit losses and amortization of goodwill **** 145,877 **** 162,260 (16,382 )
Net operating profits before credit costs for trust accounts and provision for general allowance<br>for credit losses **** 132,130 **** 149,856 (17,726 )
Provision for general allowance for credit losses (2) **** — **** (95 ) 95
Net operating profits* **** 132,134 **** 149,761 (17,626 )
Net non-recurring gains (losses) **** 8,362 **** 55,481 (47,119 )
Credit costs (3) **** (10 ) 26 (37 )
Losses on loan write-offs **** (10 ) (0 ) (10 )
Provision for specific allowance for credit losses **** — **** 26 (26 )
Other credit costs **** — **** — —
Reversal of allowance for credit losses (4) **** 75 **** — 75
Reversal of reserve for contingent losses included in credit costs (5) **** — **** — —
Gains on loans written-off (6) **** 6 **** 16 (9 )
Net gains (losses) on equity securities **** 77,666 **** 61,721 15,945
Gains on sales of equity securities **** 81,967 **** 65,912 16,055
Losses on sales of equity securities **** (2,120 ) (1,913 ) (206 )
Losses on write-down of equity securities **** (2,180 ) (2,277 ) 96
Equity in earnings of equity method investees **** 2,676 **** 1,695 980
Other non-recurring gains (losses) **** (72,051 ) (7,978 ) (64,073 )
Ordinary profits **** 140,496 **** 205,242 (64,745 )
Net extraordinary gains (losses) **** (3,796 ) (5,733 ) 1,937
Net gains (losses) on disposition of fixed assets **** 2,214 **** (328 ) 2,542
Losses on impairment of fixed assets **** (6,033 ) (5,404 ) (628 )
Profits before income taxes **** 136,700 **** 199,508 (62,808 )
Income taxes-current **** 37,459 **** 55,066 (17,606 )
Income taxes-deferred **** 1,712 **** 3,845 (2,132 )
Total taxes **** 39,172 **** 58,912 (19,739 )
Profits **** 97,527 **** 140,596 (43,068 )
Profits attributable to non-controlling interests **** 571 **** 524 46
Profits attributable to owners of parent **** 96,956 **** 140,072 (43,115 )
Note:
* Net operating profits = Net operating profits of TB + 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)+(6) **** 76 **** (52 ) 128
Number of consolidated subsidiaries **** 109 **** 105 4
Number of affiliated companies accounted for under the equity method **** 5 **** 4 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><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 **** 134,546 **** 152,632 (18,085 )
Profits attributable to owners of parent **** 98,679 **** 141,988 (43,309 )
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, 2024(A) March 31, 2023(B) (Decrease)   (A) - (B)
Gross profits **** 282,289 **** 306,476 (24,186 )
Gross profits before credit costs for trust accounts **** 282,284 **** 306,476 (24,191 )
Domestic gross profits **** 283,186 **** 286,614 (3,427 )
Trust fees **** 120,757 **** 111,924 8,833
Trust fees before credit costs for trust accounts **** 120,753 **** 111,924 8,828
Money trusts fees (Jointly operated designated money trusts before credit costs for trust<br>account) **** 16,537 **** 15,035 1,501
Other trust fees **** 104,216 **** 96,889 7,326
Credit costs for trust accounts (1) **** 4 **** — 4
Net interest income **** 55,558 **** 59,499 (3,940 )
Net fees and commissions **** 106,909 **** 104,638 2,271
Net trading profits **** (9,637 ) (12,252 ) 2,615
Net other operating profits **** 9,596 **** 22,803 (13,206 )
Net gains (losses) on debt securities **** (13,191 ) (4,339 ) (8,851 )
Non-domestic gross profits **** (896 ) 19,862 (20,759 )
Net interest income **** 65,538 **** 311,406 (245,868 )
Net fees and commissions **** 2,002 **** 967 1,034
Net trading profits **** (4,222 ) (9,910 ) 5,687
Net other operating profits **** (64,214 ) (282,601 ) 218,386
Net gains (losses) on debt securities **** (60,813 ) (287,291 ) 226,478
General and administrative expenses **** 211,795 **** 197,317 14,477
Personnel expenses **** 69,901 **** 63,182 6,719
Non-personnel expenses **** 133,715 **** 125,465 8,249
Taxes **** 8,178 **** 8,670 (491 )
Net operating profits before credit costs for trust accounts and provision for general allowance<br>for credit losses **** 70,489 **** 109,158 (38,669 )
Provision for general allowance for credit losses (2) **** — **** (40 ) 40
Net operating profits **** 70,493 **** 109,118 (38,624 )
Net non-recurring gains (losses) **** 10,089 **** 62,020 (51,930 )
Credit costs (3) **** (255 ) (189 ) (65 )
Reversal of allowance for credit losses (4) **** 85 **** — 85
Reversal of reserve for contingent losses included in credit costs (5) **** — **** — —
Gains on loans written-off (6) **** 1 **** 0 0
Net gains (losses) on equity securities **** 77,330 **** 61,819 15,511
Gains on sales of equity securities **** 81,950 **** 65,912 16,038
Losses on sales of equity securities **** (2,120 ) (1,899 ) (221 )
Losses on write-down of equity securities **** (2,499 ) (2,193 ) (306 )
Other non-recurring gains (losses) **** (67,071 ) 390 (67,462 )
Ordinary profits **** 80,583 **** 171,138 (90,555 )
Net extraordinary gains (losses) **** (5,453 ) (5,348 ) (104 )
Net gains (losses) on disposition of fixed assets **** 354 **** (385 ) 739
Losses on impairment of fixed assets **** (5,908 ) (5,081 ) (826 )
Income before income taxes **** 75,130 **** 165,790 (90,659 )
Income taxes-current **** 13,599 **** 35,838 (22,238 )
Income taxes-deferred **** 3,727 **** 5,406 (1,679 )
Total taxes **** 17,326 **** 41,244 (23,917 )
Net income **** 57,803 **** 124,545 (66,742 )
(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6) **** (164 ) (229 ) 65
Credit costs for trust accounts **** 4 **** — 4
Provision for general allowance for credit losses **** 85 **** (40 ) 125
Provision for special allowance for credit losses **** 0 **** (6 ) 6
Allowance for credit to specific foreign borrowers **** — **** — —
Losses on loans write-offs **** (0 ) — (0 )
Provision for contingent losses included in credit costs **** (255 ) (183 ) (71 )
Gains on loans written-off **** 1 **** 0 0
Losses on sales of other loans, etc. **** — **** — —
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 **** 144,493 **** 400,790 (256,296 )
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 **** 62,458 **** 152,223 (89,765 )

6

Mitsubishi UFJ Financial Group, Inc.

2. Average Interest Rate Spread

BK Non-consolidated

(percentage per annum)
(Domestic business segment) For the fiscal yearendedMarch 31, 2024(A) Increase (Decrease) (A) - (B) For the fiscal yearendedMarch 31, 2023(B)
Total average interest rate on interest-earning assets (a) **** 0.52 0.03 0.49
Average interest rate on loans and bills discounted (b) **** 0.81 0.05 0.75
Average interest rate on securities **** 0.52 0.03 0.49
Total average interest rate on interest-bearing liabilities (c)
<including general and administrative expenses> **** 0.32 (0.00 ) 0.32
Average interest rate on deposits and NCD (d) **** 0.00 0.00 0.00
Average interest rate on other liabilities **** 0.17 0.06 0.11
Overall interest rate spread (a)-(c) **** 0.19 0.03 0.16
Interest rate spread (b)-(d) **** 0.81 0.05 0.75
(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted (e) **** 0.83 0.05 0.77
Interest rate spread (e)-(d) **** 0.83 0.05 0.77
TB Non-consolidated
(percentage per annum)
(Domestic business segment) For the fiscal yearendedMarch 31, 2024(A) Increase(Decrease)<br>(A) - (B) For the fiscal yearendedMarch 31, 2023(B)
Total average interest rate on interest-earning assets (a) **** 0.69 0.03 0.66
Average interest rate on loans and bills discounted (b) **** 0.56 0.16 0.39
Average interest rate on securities **** 2.66 0.35 2.31
Total average interest rate on interest-bearing liabilities (c) **** 0.20 0.04 0.16
Average interest rate on deposits and NCD (d) **** 0.02 0.00 0.01
Overall interest rate spread (a)-(c) **** 0.49 (0.00 ) 0.50
Interest rate spread (b)-(d) **** 0.54 0.16 0.37
(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted (e) **** 0.72 (0.02 ) 0.75
Interest rate spread (e)-(d) **** 0.69 (0.03 ) 0.73
(Reference)
BK and TB Combined
(percentage per annum)
(Domestic business segment) For the fiscal yearendedMarch 31, 2024(A) Increase(Decrease)<br>(A) - (B) For the fiscal yearendedMarch 31, 2023(B)
Average interest rate on loans and bills discounted (a) **** 0.80 0.06 0.74
Average interest rate on deposits and NCD (b) **** 0.00 0.00 0.00
Interest rate spread (a)-(b) **** 0.80 0.05 0.74
(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted (c) **** 0.83 0.05 0.77
Interest rate spread (c)-(b) **** 0.82 0.05 0.77

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, 2024
within 1 year 1 year to 5 years over 5 years Total
Receive-fix/pay-floater **** 3,836.9 **** 27,047.4 **** 10,212.0 **** 41,096.4
Receive-floater/pay-fix **** 1,415.2 **** 1,795.8 **** 4,789.8 **** 8,000.9
Receive-floater/pay-floater **** — **** — **** — **** —
Receive-fix/pay-fix **** — **** — **** — **** —
Total **** 5,252.2 **** 28,843.3 **** 15,001.8 **** 49,097.4
BK Consolidated
(in billions of yen)
As of March 31, 2024
within 1 year 1 year to 5 years over 5 years Total
Receive-fix/pay-floater **** 3,540.2 **** 26,049.4 **** 10,038.5 **** 39,628.1
Receive-floater/pay-fix **** 1,188.7 **** 321.7 **** 3,536.1 **** 5,046.6
Receive-floater/pay-floater **** — **** — **** — **** —
Receive-fix/pay-fix **** — **** — **** — **** —
Total **** 4,728.9 **** 26,371.1 **** 13,574.6 **** 44,674.7
TB Consolidated
(in billions of yen)
As of March 31, 2024
within 1 year 1 year to 5 years over 5 years Total
Receive-fix/pay-floater **** 296.7 **** 843.1 **** 142.3 **** 1,282.2
Receive-floater/pay-fix **** 216.4 **** 1,395.9 **** 1,215.0 **** 2,827.5
Receive-floater/pay-floater **** — **** — **** — **** —
Receive-fix/pay-fix **** — **** — **** — **** —
Total **** 513.1 **** 2,239.1 **** 1,357.3 **** 4,109.7

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, 2024 As of March 31, 2023
Amount onconsolidatedbalance sheet Unrealizedgains (losses) Gains Losses Amount onconsolidatedbalance sheet Unrealizedgains (losses) Gains Losses
Debt securities being held to maturity **** 24,843,961 **** (286,447 ) **** 13,719 **** 300,167 21,520,080 (133,925 ) 49,237 183,163
Domestic bonds **** 17,310,411 **** (107,223 ) **** 6,886 **** 114,109 15,052,012 8,012 35,612 27,599
Government bonds **** 14,643,055 **** (90,759 ) **** 4,592 **** 95,351 13,513,972 12,778 32,129 19,351
Municipal bonds **** 1,999,181 **** (14,279 ) **** 2,047 **** 16,327 1,144,825 (5,334 ) 2,473 7,808
Short-term corporate bonds **** — **** — **** **** — **** — — — — —
Corporate bonds **** 668,174 **** (2,184 ) **** 245 **** 2,430 393,214 568 1,009 440
Other **** 7,533,549 **** (179,224 ) **** 6,832 **** 186,057 6,468,068 (141,938 ) 13,625 155,563
Foreign bonds **** 4,952,083 **** (176,384 ) **** 3,151 **** 179,536 3,913,345 (92,148 ) 13,606 105,754
Other **** 2,581,465 **** (2,839 ) **** 3,681 **** 6,520 2,554,723 (49,790 ) 18 49,809
(in millions of yen)
As of March 31, 2024 As of March 31, 2023
Amount onconsolidatedbalance sheet Unrealizedgains (losses) Gains Losses Amount onconsolidatedbalance sheet Unrealizedgains (losses) Gains Losses
Available-for-sale<br>securities **** 61,736,341 **** 2,725,841 **** **** 4,178,443 **** 1,452,602 65,121,075 1,420,165 3,056,638 1,636,472
Domestic equity securities **** 5,101,691 **** 3,758,884 **** **** 3,765,175 **** 6,291 4,271,923 2,720,728 2,745,235 24,506
Domestic bonds **** 25,074,644 **** (129,949 ) **** 9,488 **** 139,438 29,751,905 (120,020 ) 22,256 142,277
Government bonds **** 21,365,241 **** (70,791 ) **** 3,631 **** 74,423 23,518,832 (86,365 ) 9,112 95,477
Municipal bonds **** 1,045,990 **** (9,573 ) **** 226 **** 9,799 2,759,940 (13,808 ) 2,062 15,871
Short-term corporate bonds **** — **** — **** **** — **** — — — — —
Corporate bonds **** 2,663,412 **** (49,584 ) **** 5,630 **** 55,215 3,473,132 (19,846 ) 11,081 30,928
Other **** 31,560,005 **** (903,093 ) **** 403,779 **** 1,306,872 31,097,247 (1,180,541 ) 289,146 1,469,688
Foreign equity securities **** 709,565 **** 12,752 **** **** 47,829 **** 35,076 408,377 (65,604 ) 23,090 88,695
Foreign bonds **** 20,990,483 **** (997,307 ) **** 69,045 **** 1,066,353 21,710,161 (1,116,208 ) 61,205 1,177,413
Other **** 9,859,956 **** 81,461 **** **** 286,904 **** 205,442 8,978,707 1,271 204,850 203,579
Redemption schedule of Available-for-sale securities with maturities and debt securities being held to maturity
(in millions of yen)
As of March 31, 2024 As of March 31, 2023
within1 year 1 year to5 years 5 years to10 years over10 years within1 year 1 year to5 years 5 years to10 years over10 years
Domestic bonds **** 23,237,264 **** 11,328,117 **** **** 6,018,587 **** 1,801,087 21,506,334 14,905,051 5,983,826 2,408,704
Government bonds **** 22,398,893 **** 8,721,368 **** **** 4,279,478 **** 608,555 20,839,280 11,024,384 4,063,028 1,106,111
Municipal bonds **** 343,811 **** 1,317,183 **** **** 1,384,177 **** — 294,616 2,076,089 1,534,060 —
Short-term corporate bonds **** — **** — **** **** — **** — — — — —
Corporate bonds **** 494,559 **** 1,289,564 **** **** 354,931 **** 1,192,532 372,438 1,804,578 386,737 1,302,593
Other **** 4,976,257 **** 11,792,107 **** **** 5,810,612 **** 12,124,762 4,583,721 12,560,637 6,276,327 10,762,201
Foreign equity securities **** 12,113 **** 20,079 **** **** — **** — 6,690 27,734 — —
Foreign bonds **** 3,741,605 **** 8,640,847 **** **** 3,955,393 **** 9,604,622 3,759,532 9,126,577 4,383,117 8,354,116
Other **** 1,222,537 **** 3,131,181 **** **** 1,855,218 **** 2,520,139 818,601 3,411,810 1,928,496 2,408,084
Total **** 28,213,521 **** 23,120,225 **** **** 11,829,199 **** 13,925,850 26,091,159 27,471,175 12,295,440 13,170,906

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, 2024 As of March 31, 2023
Amount onbalance sheet Unrealizedgains (losses) Gains Losses Amount onbalance sheet Unrealizedgains (losses) Gains Losses
Debt securities being held to maturity **** 22,209,137 **** (260,977 ) **** 10,038 **** 271,015 19,047,385 (78,497 ) 49,199 127,696
Stocks of subsidiaries and affiliates **** 685,292 **** 563,814 **** **** 572,794 **** 8,979 610,147 482,330 482,914 584
(in millions of yen)
As of March 31, 2024 As of March 31, 2023
Amount onbalance sheet Unrealizedgains (losses) Gains Losses Amount onbalance sheet Unrealizedgains (losses) Gains Losses
Available-for-sale<br>securities **** 45,454,390 **** 2,491,997 **** **** 3,340,687 **** 848,693 50,631,570 1,276,158 2,374,166 1,098,007
Domestic equity securities **** 4,310,320 **** 3,134,194 **** **** 3,138,838 **** 4,643 3,566,081 2,212,225 2,232,823 20,598
Domestic bonds **** 23,310,014 **** (71,482 ) **** 7,994 **** 79,477 28,013,980 (79,159 ) 21,133 100,292
Other **** 17,834,055 **** (570,714 ) **** 193,854 **** 764,571 19,051,508 (856,907 ) 120,209 977,117
Foreign equity securities **** 669,182 **** 1,235 **** **** 36,309 **** 35,076 367,745 (73,953 ) 15,072 89,026
Foreign bonds **** 10,234,364 **** (554,058 ) **** 43,155 **** 597,214 12,565,104 (672,998 ) 48,517 721,516
Other **** 6,930,507 **** (17,891 ) **** 114,390 **** 132,281 6,118,658 (109,954 ) 56,619 166,573
Redemption<br>schedule of Available-for-sale securities with maturities and debt securities being held to maturity
(in millions of yen)
As of March 31, 2024 As of March 31, 2023
within1 year 1 year to5 years 5 years to10 years over10 years within1 year 1 year to5 years 5 years to10 years over10 years
Domestic bonds **** 23,194,822 **** 10,452,409 **** **** 5,689,499 **** 1,283,696 21,479,460 14,127,226 5,612,956 1,846,349
Government bonds **** 22,382,849 **** 8,019,918 **** **** 4,045,541 **** 207,081 20,827,187 10,418,215 3,819,123 670,500
Municipal bonds **** 342,305 **** 1,218,778 **** **** 1,291,205 **** — 292,101 2,002,924 1,413,467 —
Short-term corporate bonds **** — **** — **** **** — **** — — — — —
Corporate bonds **** 469,666 **** 1,213,712 **** **** 352,752 **** 1,076,614 360,171 1,706,086 380,365 1,175,849
Other **** 3,543,953 **** 6,204,463 **** **** 2,326,644 **** 8,099,827 2,668,272 9,065,937 2,182,686 7,468,702
Foreign equity securities **** 12,113 **** 20,079 **** **** — **** — 6,690 27,734 — —
Foreign bonds **** 2,695,045 **** 3,350,904 **** **** 1,869,018 **** 6,839,540 2,180,275 5,989,003 1,525,102 6,370,025
Other **** 836,793 **** 2,833,480 **** **** 457,625 **** 1,260,286 481,305 3,049,198 657,584 1,098,677
Total **** 26,738,775 **** 16,656,873 **** **** 8,016,143 **** 9,383,523 24,147,732 23,193,164 7,795,642 9,315,052

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, 2024 As of March 31, 2023
Amount onbalance sheet Unrealizedgains (losses) Gains Losses Amount onbalance sheet Unrealizedgains (losses) Gains Losses
Debt securities being held to maturity **** 2,634,823 **** (25,470 ) **** 3,681 **** 29,151 2,472,695 (55,428 ) 38 55,466
Stocks of subsidiaries and affiliates **** 15,136 **** (1,477 ) **** — **** 1,477 11,636 (758 ) — 758
(in millions of yen)
As of March 31, 2024 As of March 31, 2023
Amount onbalance sheet Unrealizedgains (losses) Gains Losses Amount onbalance sheet Unrealizedgains (losses) Gains Losses
Available-for-sale<br>securities **** 12,453,511 **** 348,078 **** **** 806,876 **** 458,797 10,871,284 208,580 626,109 417,529
Domestic equity securities **** 858,572 **** 619,081 **** **** 619,850 **** 769 745,387 467,925 472,431 4,506
Domestic bonds **** 1,746,579 **** (58,581 ) **** 1,493 **** 60,074 1,705,587 (40,984 ) 1,114 42,098
Other **** 9,848,360 **** (212,421 ) **** 185,532 **** 397,953 8,420,308 (218,360 ) 152,563 370,923
Foreign equity securities **** 126 **** 77 **** **** 77 **** — 81 63 63 —
Foreign bonds **** 7,819,817 **** (306,146 ) **** 20,037 **** 326,183 6,367,896 (334,590 ) 9,436 344,026
Other **** 2,028,416 **** 93,647 **** **** 165,417 **** 71,769 2,052,330 116,165 143,062 26,897
Redemption<br>schedule of Available-for-sale securities with maturities and debt securities being held to maturity
(in millions of yen)
As of March 31, 2024 As of March 31, 2023
within1 year 1 year to5 years 5 years to10 years over10 years within1 year 1 year to5 years 5 years to10 years over10 years
Domestic bonds **** 26,386 **** 873,712 **** **** 329,088 **** 517,391 14,781 759,692 368,758 562,355
Government bonds **** — **** 699,455 **** **** 233,937 **** 401,473 — 588,036 243,905 435,611
Municipal bonds **** 1,505 **** 98,405 **** **** 92,972 **** — 2,515 73,164 120,593 —
Short-term corporate bonds **** — **** — **** **** — **** — — — — —
Corporate bonds **** 24,880 **** 75,851 **** **** 2,179 **** 115,917 12,266 98,491 4,260 126,743
Other **** 248,926 **** 3,702,030 **** **** 2,851,138 **** 4,019,724 1,039,868 1,450,370 3,517,807 3,293,498
Foreign equity securities **** — **** — **** **** — **** — — — — —
Foreign bonds **** 242,784 **** 3,445,064 **** **** 2,767,252 **** 3,999,539 1,006,548 1,268,451 3,424,962 3,140,629
Other **** 6,142 **** 256,966 **** **** 83,886 **** 20,184 33,320 181,918 92,844 152,868
Total **** 275,312 **** 4,575,742 **** **** 3,180,227 **** 4,537,116 1,054,649 2,210,062 3,886,565 3,855,853

11

Mitsubishi UFJ Financial Group, Inc.

5. ROE

MUFG Consolidated

(%)
For the fiscal yearendedMarch 31, 2024(A) Increase(Decrease)(A) - (B) For the fiscal yearendedMarch 31, 2023(B)
ROE (MUFG basis) *1 **** 8.59 1.55 7.03
ROE (JPX basis) *2 **** 8.10 1.58 6.52

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) (in billions of yen)
As ofMarch 31, 2024Preliminary (A) Increase(Decrease)(A) - (B) As ofMarch 31,2023 (B) As ofSeptember 30,2023
(1)   Total capital ratio (4)/(7) **** 17.82 % 3.91 % 13.91 % 14.02 %
(2)   Tier 1 capital ratio (5)/(7) **** 15.72 % 3.67 % 12.04 % 12.13 %
(3)   Common Equity Tier 1 capital ratio (6)/(7) **** 13.53 % 2.76 % 10.76 % 10.61 %
(4)   Total capital **** 19,817.8 **** 2,651.7 17,166.1 18,734.8
(5)   Tier 1 capital **** 17,479.7 **** 2,616.0 14,863.7 16,212.7
(6)   Common Equity Tier 1 capital **** 15,041.3 **** 1,760.4 13,280.8 14,176.5
(7)   Risk weighted assets **** 111,160.1 **** (12,203.2 ) 123,363.3 133,561.4
(8)   Required Capital (7)×8% **** 8,892.8 **** (976.2 ) 9,869.0 10,684.9
BK Consolidated
(in billions of yen) (in billions of yen)
As ofMarch 31, 2024Preliminary (A) Increase(Decrease)(A) - (B) As ofMarch 31,2023 (B) As ofSeptember 30,2023
(1)   Total capital ratio (4)/(7) **** 18.11 % 5.53 % 12.58 % 12.70 %
(2)   Tier 1 capital ratio (5)/(7) **** 16.11 % 5.06 % 11.04 % 11.17 %
(3)   Common Equity Tier 1 capital ratio (6)/(7) **** 13.80 % 3.90 % 9.89 % 9.78 %
(4)   Total capital **** 15,915.0 **** 1,707.2 14,207.8 15,609.5
(5)   Tier 1 capital **** 14,153.6 **** 1,684.3 12,469.2 13,729.1
(6)   Common Equity Tier 1 capital **** 12,126.4 **** 954.2 11,172.1 12,029.5
(7)   Risk weighted assets **** 87,833.0 **** (25,037.4 ) 112,870.4 122,878.2
(8)   Required Capital (7)×8% **** 7,026.6 **** (2,002.9 ) 9,029.6 9,830.2
TB Consolidated
(in billions of yen) (in billions of yen)
As ofMarch 31, 2024Preliminary (A) Increase(Decrease)(A) - (B) As ofMarch 31,2023 (B) As ofSeptember 30,2023
(1)   Total capital ratio (4)/(7) **** 20.42 % (0.24 )% 20.67 % 19.89 %
(2)   Tier 1 capital ratio (5)/(7) **** 17.83 % (0.10 )% 17.93 % 17.27 %
(3)   Common Equity Tier 1 capital ratio (6)/(7) **** 15.56 % (0.85 )% 16.41 % 15.50 %
(4)   Total capital **** 2,121.6 **** 80.1 2,041.5 2,174.4
(5)   Tier 1 capital **** 1,852.1 **** 81.2 1,770.9 1,888.6
(6)   Common Equity Tier 1 capital **** 1,616.4 **** (4.4 ) 1,620.8 1,694.5
(7)   Risk weighted assets **** 10,387.4 **** 512.1 9,875.3 10,930.8
(8)   Required Capital (7)×8% **** 830.9 **** 40.9 790.0 874.4
BK Non-consolidated
(in billions of yen) (in billions of yen)
As ofMarch 31, 2024Preliminary (A) Increase(Decrease)(A) - (B) As ofMarch 31,2023 (B) As ofSeptember 30,2023
(1)   Total capital ratio (4)/(7) **** 16.29 % 5.57 % 10.71 % 10.68 %
(2)   Tier 1 capital ratio (5)/(7) **** 14.38 % 5.08 % 9.30 % 9.25 %
(3)   Common Equity Tier 1 capital ratio (6)/(7) **** 11.77 % 3.66 % 8.11 % 7.80 %
(4)   Total capital **** 12,279.1 **** 1,163.8 11,115.3 12,108.8
(5)   Tier 1 capital **** 10,839.0 **** 1,194.9 9,644.1 10,489.5
(6)   Common Equity Tier 1 capital **** 8,872.4 **** 462.1 8,410.2 8,844.5
(7)   Risk weighted assets **** 75,363.3 **** (28,324.4 ) 103,687.7 113,281.9
(8)   Required Capital (7)×8% **** 6,029.0 **** (2,265.9 ) 8,295.0 9,062.5
TB Non-consolidated
(in billions of yen) (in billions of yen)
As ofMarch 31, 2024Preliminary (A) Increase(Decrease)(A) - (B) As ofMarch 31,2023 (B) As ofSeptember 30,2023
(1)   Total capital ratio (4)/(7) **** 19.03 % (0.56 )% 19.60 % 18.61 %
(2)   Tier 1 capital ratio (5)/(7) **** 16.72 % (0.39 )% 17.11 % 16.21 %
(3)   Common Equity Tier 1 capital ratio (6)/(7) **** 14.71 % (1.03 )% 15.74 % 14.58 %
(4)   Total capital **** 2,209.6 **** 78.6 2,131.0 2,210.1
(5)   Tier 1 capital **** 1,941.1 **** 79.9 1,861.1 1,925.2
(6)   Common Equity Tier 1 capital **** 1,707.6 **** (4.0 ) 1,711.6 1,731.7
(7)   Risk weighted assets **** 11,605.9 **** 734.7 10,871.2 11,873.8
(8)   Required Capital (7)×8% **** 928.4 **** 58.7 869.6 949.9
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 ofMarch 31, 2024 As ofMarch 31, 2023 Increase(Decrease)
Bankrupt or De facto Bankrupt **** 239,004 **** 198,312 40,692
Doubtful **** 1,134,503 **** 746,207 388,296
Special Attention **** 634,023 **** 618,892 15,131
Accruing loans contractually past due 3 months or more **** 26,869 **** 23,679 3,189
Restructured loans **** 607,154 **** 595,212 11,942
Subtotal (A) **** 2,007,531 **** 1,563,411 444,120
Normal(B) **** 130,602,373 **** 121,766,210 8,836,163
Total loans (C=A+B) **** 132,609,905 **** 123,329,622 9,280,283
Non-performing loans ratio (A)/(C) **** 1.51 % 1.26 % 0.24 %
Write-offs **** 217,701 **** 216,625 1,075
(2) Allowance for Credit Losses
(in millions of yen)
As ofMarch 31, 2024 Coverage ratio(D)/(A) As ofMarch 31, 2023 Coverage ratio(D)/(A) Increase(Decrease) Coverage ratio(D)/(A)
Allowance for credit losses (D) **** 1,535,253 **** 76.47 % 1,245,727 79.68 % 289,526 (3.20 )%
General allowance for credit losses **** 848,536 799,536 49,000
Specific allowance for credit losses **** 665,305 414,026 251,279
Allowance for credit to specific foreign borrowers **** 21,412 32,165 (10,752 )
(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 ofMarch 31, 2024 As ofMarch 31, 2023 Increase(Decrease)
Domestic **** 813,702 **** 935,849 (122,147 )
Overseas **** 1,193,829 **** 627,561 566,268
Asia **** 420,715 **** 370,222 50,492
Indonesia **** 50,117 **** 40,496 9,620
Singapore **** 12,752 **** 25,067 (12,314 )
Thailand **** 280,757 **** 231,386 49,370
Other **** 77,088 **** 73,272 3,816
Americas **** 601,518 **** 102,130 499,388
Europe, Middle East and Other **** 171,595 **** 155,209 16,386
Total **** 2,007,531 **** 1,563,411 444,120
(in millions of yen)
Classified by Industry As ofMarch 31, 2024 As ofMarch 31, 2023 Increase(Decrease)
Domestic **** 813,702 **** 935,849 (122,147 )
Manufacturing **** 283,777 **** 355,468 (71,691 )
Construction **** 8,226 **** 8,467 (241 )
Wholesale and retail **** 87,732 **** 90,725 (2,992 )
Finance and insurance **** 14,109 **** 8,119 5,990
Real estate, goods rental and leasing **** 37,388 **** 36,097 1,291
Services **** 80,749 **** 99,295 (18,545 )
Other industries **** 48,708 **** 77,598 (28,889 )
Consumer **** 253,008 **** 260,078 (7,069 )
Overseas **** 1,193,829 **** 627,561 566,268
Financial institutions **** 3,104 **** 2,601 502
Commercial and industrial **** 1,021,074 **** 502,318 518,755
Other **** 169,650 **** 122,640 47,009
Total **** 2,007,531 **** 1,563,411 444,120

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 ofMarch 31, 2024 As ofMarch 31, 2023 Increase(Decrease)
Bankrupt or De facto Bankrupt **** 77,265 **** 74,448 2,817
Doubtful **** 904,052 **** 546,567 357,484
Special Attention **** 478,331 **** 464,199 14,131
Accruing loans contractually past due 3 months or more **** 19,163 **** 17,167 1,996
Restructured loans **** 459,167 **** 447,032 12,135
Subtotal (A) **** 1,459,649 **** 1,085,215 374,433
Normal(B) **** 116,726,530 **** 109,665,679 7,060,850
Total loans (C=A+B) **** 118,186,179 **** 110,750,895 7,435,283
Non-performing loans ratio (A)/(C) **** 1.23 % 0.97 % 0.25 %
Write-offs **** 181,926 **** 182,181 (254 )
(2) Status of Coverage of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)
(in millions of yen)
As ofMarch 31, 2024 Coverage ratio[(D)+(E)]/(A) As ofMarch 31, 2023 Coverage ratio[(D)+(E)]/(A) Increase(Decrease) Coverage ratio[(D)+(E)]/(A)
Covered amount **** 1,042,471 **** 71.41 % 805,937 74.26 % 236,534 (2.84 )%
Allowance for credit losses(D) **** 609,945 333,135 276,809
Collateral, guarantees, etc.(E) **** 432,525 472,801 (40,275 )
(3) Coverage Ratio
(in millions of yen)
Category Loan amount(A) Allowance forcredit losses(D) Covered bycollateral and/or guarantees(E) Allowancecoverage ratiofor unsecuredportion (D) /[(A) - (E)] Coverage ratio[(D)+(E)]/(A)
Bankrupt or De facto Bankrupt 77,265 5,358 71,907 100.00 %
[74,448 ] [5,000 ] [69,448 ] [100.00 %]
Doubtful 904,052 441,031 161,324 66.62 %
[546,567 ] [224,271 ] [215,061 ] [80.38 %]
Special Attention 478,331 163,555 199,294 75.85 %
[464,199 ] [103,864 ] [188,292 ] [62.93 %]
Total 1,459,649 609,945 432,525 71.41 %
[1,085,215 ] [333,135 ] [472,801 ] [74.26 %]
Note: The upper figures are as of March 31, 2024. The lower figures with brackets are as of March 31, 2023.<br><br><br><br> <br>(4) Classification of Loans to Be Disclosed under the Banking Act and the FRA<br>(excluding Normal Loans)
(in millions of yen)
Classified by Geographic Area As ofMarch 31, 2024 As ofMarch 31, 2023 Increase(Decrease)
Domestic **** 621,995 **** 750,949 (128,954 )
Overseas **** 837,654 **** 334,266 503,388
Asia **** 89,421 **** 97,915 (8,493 )
Indonesia **** — **** — —
Singapore **** 12,752 **** 25,067 (12,314 )
Thailand **** — **** — —
Other **** 76,669 **** 72,847 3,821
Americas **** 601,518 **** 102,130 499,388
Europe, Middle East and Other **** 146,713 **** 134,220 12,492
Total **** 1,459,649 **** 1,085,215 374,433
(in millions of yen)
Classified by Industry As ofMarch 31, 2024 As ofMarch 31, 2023 Increase(Decrease)
Domestic **** 621,995 **** 750,949 (128,954 )
Manufacturing **** 282,469 **** 354,298 (71,828 )
Construction **** 8,050 **** 8,326 (275 )
Wholesale and retail **** 85,689 **** 88,785 (3,096 )
Finance and insurance **** 14,088 **** 8,097 5,990
Real estate **** 22,960 **** 22,638 321
Goods rental and leasing **** 14,393 **** 13,438 954
Services **** 80,619 **** 99,205 (18,586 )
Other industries **** 47,998 **** 77,283 (29,284 )
Consumer **** 65,724 **** 78,875 (13,150 )
Overseas **** 837,654 **** 334,266 503,388
Financial institutions **** 2,611 **** 2,331 280
Commercial and industrial **** 834,942 **** 325,729 509,213
Other **** 99 **** 6,204 (6,105 )
Total **** 1,459,649 **** 1,085,215 374,433

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 ofMarch 31, 2024 As of<br>March 31, 2023 Increase(Decrease)
Bankrupt or De facto Bankrupt **** 77,210 **** 74,313 2,896
Doubtful **** 902,706 **** 544,648 358,058
Special Attention **** 478,331 **** 464,199 14,131
Accruing loans contractually past due 3 months or more **** 19,163 **** 17,167 1,996
Restructured loans **** 459,167 **** 447,032 12,135
Subtotal (A) **** 1,458,248 **** 1,083,162 375,086
Normal(B) **** 114,178,105 **** 107,103,161 7,074,943
Total loans (C=A+B) **** 115,636,353 **** 108,186,323 7,450,030
Non-performing loans ratio (A)/(C) **** 1.26 % 1.00 % 0.25 %
Write-offs **** 181,894 **** 182,148 (254 )
(2) Status of Coverage of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)
(in millions of yen)
As ofMarch 31, 2024 Coverage ratio[(D)+(E)]/(A) As ofMarch 31, 2023 Coverage ratio[(D)+(E)]/(A) Increase(Decrease) Coverage ratio[(D)+(E)]/(A)
Covered amount **** 1,041,070 **** 71.39 % 803,883 74.21 % 237,187 (2.82 )%
Allowance for credit losses(D) **** 609,945 333,135 276,809
Collateral, guarantees, etc.(E) **** 431,124 470,747 (39,622 )

(3) Coverage Ratio

(in millions of yen)
Category Loan amount(A) Allowance forcredit losses(D) Covered bycollateral and/or guarantees(E) Allowance coverageratio for unsecuredportion(D) / [(A) - (E)] Coverage ratio[(D)+(E)]/(A)
Bankrupt or De facto Bankrupt 77,210 5,358 71,852 100.00 % 100.00 %
[74,313 ] [5,000 ] [69,313 ] [100.00 %] [100.00 %]
Doubtful 902,706 441,031 159,978 59.37 % 66.57 %
[544,648 ] [224,271 ] [213,141 ] [67.65 %] [80.31 %]
Special Attention 478,331 163,555 199,294 58.61 % 75.85 %
[464,199 ] [103,864 ] [188,292 ] [37.64 %] [62.93 %]
Total 1,458,248 609,945 431,124 59.38 % 71.39 %
[1,083,162 ] [333,135 ] [470,747 ] [54.39 %] [74.21 %]

Note: The upper figures are as of March 31, 2024. The lower figures with brackets are as of March 31, 2023.

(4) Classification of Loans to Be Disclosed under the Banking Act and the FRA (excluding Normal Loans)
(in millions of yen)
Classified by Geographic Area As ofMarch 31, 2024 As of<br>March 31, 2023 Increase(Decrease)
Domestic **** 620,594 748,895 (128,301 )
Overseas **** 837,654 334,266 503,388
Asia **** 89,421 97,915 (8,493 )
Indonesia **** — — —
Singapore **** 12,752 25,067 (12,314 )
Thailand **** — — —
Other **** 76,669 72,847 3,821
Americas **** 601,518 102,130 499,388
Europe, Middle East and Other **** 146,713 134,220 12,492
Total **** 1,458,248 1,083,162 375,086
(in millions of yen)
Classified by Industry As ofMarch 31, 2024 As of<br>March 31, 2023 Increase(Decrease)
Domestic **** 620,594 748,895 (128,301 )
Manufacturing **** 282,469 354,298 (71,828 )
Construction **** 8,050 8,326 (275 )
Wholesale and retail **** 85,689 88,785 (3,096 )
Finance and insurance **** 14,088 8,097 5,990
Real estate **** 22,960 22,638 321
Goods rental and leasing **** 14,393 13,438 954
Services **** 80,619 99,205 (18,586 )
Other industries **** 47,998 77,283 (29,284 )
Consumer **** 64,323 76,821 (12,498 )
Overseas **** 837,654 334,266 503,388
Financial institutions **** 2,611 2,331 280
Commercial and industrial **** 834,942 325,729 509,213
Other **** 99 6,204 (6,105 )
Total **** 1,458,248 1,083,162 375,086

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 ofMarch 31, 2024 As ofMarch 31, 2023 Increase(Decrease)
Bankrupt or De facto Bankrupt **** 54 **** 134 (79 )
Doubtful **** 1,346 **** 1,919 (573 )
Special Attention **** — **** — —
Accruing loans contractually past due 3 months or more **** — **** — —
Restructured loans **** — **** — —
Subtotal (A) **** 1,401 **** 2,053 (652 )
Normal(B) **** 2,545,305 **** 2,558,578 (13,273 )
Total loans (C=A+B) **** 2,546,706 **** 2,560,632 (13,926 )
Non-performing loans ratio (A)/(C) **** 0.05 % 0.08 % (0.03 )%
Write-offs **** 31 **** 32 (0 )

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

(in millions of yen)
As ofMarch 31, 2024 Coverage ratio[(D)+(E)]/(A) As ofMarch 31, 2023 Coverage ratio[(D)+(E)]/(A) Increase(Decrease) Coverage ratio[(D)+(E)]/(A)
Covered amount **** 1,401 **** 100.00 % 2,053 100.00 % (652 ) —
Allowance for credit losses(D) **** — — —
Collateral, guarantees, etc.(E) **** 1,401 2,053 (652 )

(3) Coverage Ratio

(in millions of yen)
Category Loan amount(A) Allowance forcredit losses(D) Covered bycollateral and/or guarantees(E) Allowance coverageratio for unsecuredportion(D) / [(A) - (E)] Coverage ratio[(D)+(E)]/(A)
Bankrupt or De facto Bankrupt 54 — 54 — 100.00 %
[134 ] [— ] [134 ] [— ] [100.00 %]
Doubtful 1,346 — 1,346 — 100.00 %
[1,919 ] [— ] [1,919 ] [— ] [100.00 %]
Special Attention — — — — —
[— ] [— ] [— ] [— ] [— ]
Total 1,401 — 1,401 — 100.00 %
[2,053 ] [— ] [2,053 ] [— ] [100.00 %]

Note: The upper figures are as of March 31, 2024. The lower figures with brackets are as of March 31, 2023.

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

(in millions of yen)
Classified by Geographic Area As ofMarch 31, 2024 As ofMarch 31, 2023 Increase(Decrease)
Domestic **** 1,401 2,053 (652 )
Overseas **** — — —
Asia **** — — —
Indonesia **** — — —
Singapore **** — — —
Thailand **** — — —
Other **** — — —
Americas **** — — —
Europe, Middle East and Other **** — — —
Total **** 1,401 2,053 (652 )
(in millions of yen)
Classified by Industry As ofMarch 31, 2024 As ofMarch 31, 2023 Increase(Decrease)
Domestic **** 1,401 2,053 (652 )
Manufacturing **** — — —
Construction **** — — —
Wholesale and retail **** — — —
Finance and insurance **** — — —
Real estate **** — — —
Goods rental and leasing **** — — —
Services **** — — —
Other industries **** — — —
Consumer **** 1,401 2,053 (652 )
Overseas **** — — —
Financial institutions **** — — —
Commercial and industrial **** — — —
Other — — —
Total **** 1,401 2,053 (652 )

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 ofMarch 31, 2024 As ofMarch 31, 2023 Increase(Decrease)
Bankrupt or De facto Bankrupt **** — — —
Doubtful **** — — —
Special Attention **** — — —
Accruing loans contractually past due 3 months or more **** — — —
Restructured loans **** — — —
Subtotal (A) **** — — —
Normal(B) **** 3,119 3,939 (820 )
Total loans (C=A+B) **** 3,119 3,939 (820 )
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 ofMarch 31, 2024 Coverage ratio[(D)+(E)]/(A) As ofMarch 31, 2023 Coverage ratio[(D)+(E)]/(A) Increase(Decrease) Coverage ratio[(D)+(E)]/(A)
Covered amount **** — **** — — — — —
Allowance for credit losses(D) **** — — —
Collateral, guarantees, etc.(E) **** — — —

(3) Coverage Ratio

(in millions of yen)
Category Loan amount(A) Allowance forcredit losses(D) Covered bycollateral and/orguarantees (E) Allowance coverageratio for unsecuredportion(D) / [(A) - (E)] Coverage ratio[(D)+(E)]/(A)
Bankrupt or De facto Bankrupt — — — — —
[— ] [— ] [— ] [— ] [— ]
Doubtful — — — — —
[— ] [— ] [— ] [— ] [— ]
Special Attention — — — — —
[— ] [— ] [— ] [— ] [— ]
Total — — — — —
[— ] [— ] [— ] [— ] [— ]

Note: The upper figures are as of March 31, 2024. The lower figures with brackets are as of March 31, 2023.

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

(in millions of yen)
Classified by Industry As ofMarch 31, 2024 As ofMarch 31, 2023 Increase(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.<br>

19

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 ofMarch 31, 2021 As ofMarch 31, 2022 As ofMarch 31, 2023(A) As ofMarch 31, 2024(B) (B) - (A)
Assets newly categorized during fiscal 2020 274,842 182,845 135,476 55,413 (80,063 )
Assets newly categorized during fiscal 2021 321,978 110,451 68,032 (42,419 )
Assets newly categorized during fiscal 2022 240,324 114,818 (125,505 )
Assets newly categorized during fiscal 2023 642,712

(2) Progress in Disposition of Problem Assets

(in millions of yen)
For the Fiscal Year Ended March 31, 2024
Bankrupt orDe facto Bankrupt Doubtful
Liquidation 4,565
Reconstructive treatment 26,811
Upgrade due to reconstructive treatment —
Loan sold to secondary market 3,202
Write-offs 29,129
Others 218,047
Collection / Repayment 63,471
Upgrade 154,575
Total 281,757 38,463 243,293
Amount in process for disposition 60,722
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 ofMarch 31, 2021 As ofMarch 31, 2022 As ofMarch 31, 2023(A) As ofMarch 31, 2024(B) (B) - (A)
Assets newly categorized during fiscal 2020 706 272 124 92 (32 )
Assets newly categorized during fiscal 2021 635 272 204 (68 )
Assets newly categorized during fiscal 2022 986 262 (724 )
Assets newly categorized during fiscal 2023 410

(2) Progress in Disposition of Problem Assets

(in millions of yen)
For the Fiscal Year Ended March 31, 2024
Bankrupt orDe facto Bankrupt Doubtful
Liquidation —
Reconstructive treatment —
Upgrade due to reconstructive treatment —
Loan sold to secondary market —
Write-offs —
Others 1,700
Collection / Repayment 171
Upgrade 1,528
Total 1,700 110 1,590
Amount in process for disposition 82
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.
--- ---

21

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)
Asof<br>March 31, 2024<br>(A) Increase<br>(Decrease)<br>(A) - (B) Asof<br>March 31, 2023<br>(B)
Domestic offices (excluding loans booked at offshore markets) **** 71,342,802 1,934,308 69,408,494
Manufacturing **** 11,600,570 (68,837 ) 11,669,407
Agriculture, forestry, fishery, mining, quarrying of stone and gravel **** 93,187 (73,317 ) 166,504
Construction **** 927,249 94,429 832,820
Utilities **** 2,654,904 133,894 2,521,010
Communication and information services **** 1,250,823 153,917 1,096,905
Transport and postal activities **** 2,185,557 (124,575 ) 2,310,132
Wholesale and retail **** 6,541,625 45,525 6,496,100
Finance and insurance **** 9,555,080 509,920 9,045,159
Real estate **** 10,777,110 685,655 10,091,455
Goods rental and leasing **** 2,596,865 23,369 2,573,496
Services **** 2,735,505 61,764 2,673,741
Municipal government **** 1,542,281 83,296 1,458,985
Other industries (including loans to the Japanese government) **** 18,882,044 409,265 18,472,778
Overseas offices and loans booked at offshore markets **** 35,892,376 4,623,144 31,269,232
Governments **** 314,663 21,493 293,170
Financial Institutions **** 13,507,038 2,487,590 11,019,448
Other **** 22,070,674 2,114,061 19,956,613
Total **** 107,235,179 6,557,452 100,677,726

22

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

Loans Classified by Type of Industry

(in millions of yen)
Asof<br>March 31, 2024<br>(A) Increase<br>(Decrease)<br>(A) - (B) Asof<br>March 31, 2023<br>(B)
Domestic offices (excluding loans booked at offshore markets) **** 68,651,467 1,987,481 66,663,986
Manufacturing **** 11,599,170 (68,837 ) 11,668,007
Agriculture, forestry, fishery, mining, quarrying of stone and gravel **** 93,187 (73,317 ) 166,504
Construction **** 927,249 94,429 832,820
Utilities **** 2,654,904 133,894 2,521,010
Communication and information services **** 1,241,789 157,911 1,083,878
Transport and postal activities **** 2,170,557 (124,575 ) 2,295,132
Wholesale and retail **** 6,541,625 45,525 6,496,100
Finance and insurance **** 8,096,830 371,804 7,725,026
Real estate **** 10,747,746 686,032 10,061,714
Goods rental and leasing **** 2,596,865 23,369 2,573,496
Services **** 2,734,980 61,973 2,673,007
Municipal government **** 1,542,020 83,326 1,458,694
Other industries (including loans to the Japanese government) **** 17,704,545 595,947 17,108,598
Overseas offices and loans booked at offshore markets **** 34,793,516 4,329,753 30,463,763
Governments **** 314,663 21,493 293,170
Financial Institutions **** 12,408,212 2,194,208 10,214,003
Other **** 22,070,640 2,114,051 19,956,588
Total **** 103,444,984 6,317,234 97,127,749

23

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

Loans Classified by Type of Industry

(in millions of yen)
Asof<br>March 31, 2024<br>(A) Increase<br>(Decrease)<br>(A) - (B) Asof<br>March 31, 2023<br>(B)
Domestic offices (excluding loans booked at offshore markets) **** 1,121,366 (345,267 ) 1,466,633
Manufacturing **** — — —
Agriculture, forestry, fishery, mining, quarrying of stone and gravel **** — — —
Construction **** — — —
Utilities **** — — —
Communication and information services **** 9,034 (3,993 ) 13,027
Transport and postal activities **** — — —
Wholesale and retail **** — — —
Finance and insurance **** 207,951 (184,423 ) 392,374
Real estate **** 3,529 (62 ) 3,591
Goods rental and leasing **** — — —
Services **** 525 (208 ) 734
Municipal government **** — — —
Other industries (including loans to the Japanese government) **** 900,326 (156,579 ) 1,056,905
Overseas offices and loans booked at offshore markets **** 1,098,859 293,390 805,468
Governments **** — — —
Financial Institutions **** 1,098,826 293,381 805,444
Other **** 33 9 24
Total **** 2,220,225 (51,876 ) 2,272,102

24

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated: Trust Accounts

Loans Classified by Type of Industry

(in millions of yen)
Asof<br>March 31, 2024<br>(A) Increase<br>(Decrease)<br>(A) - (B) Asof<br>March 31, 2023<br>(B)
Domestic offices (excluding loans booked at offshore markets) **** 1,569,969 292,094 1,277,875
Manufacturing **** 1,400 — 1,400
Agriculture, forestry, fishery, mining, quarrying of stone and gravel **** — — —
Construction **** — — —
Utilities **** — — —
Communication and information services **** — — —
Transport and postal activities **** 15,000 — 15,000
Wholesale and retail **** — — —
Finance and insurance **** 1,250,299 322,539 927,759
Real estate **** 25,835 (313 ) 26,149
Goods rental and leasing **** — — —
Services **** — — —
Municipal government **** 261 (29 ) 291
Other industries (including loans to the Japanese government) **** 277,173 (30,101 ) 307,275
Overseas offices and loans booked at offshore markets **** — — —
Governments **** — — —
Financial Institutions **** — — —
Other **** — — —
Total **** 1,569,969 292,094 1,277,875

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 of<br>March 31, 2024<br>(A) Increase<br>(Decrease)<br>(A) - (B) As of<br>March 31, 2023<br>(B)
Total domestic consumer loans **** 14,954,731 (370,182 ) 15,324,914
Housing loans **** 14,236,251 (396,106 ) 14,632,358
Residential purpose **** 12,559,404 (343,551 ) 12,902,955
Other **** 718,480 25,924 692,556
(2) Domestic Loans to Small/Medium-Sized Companies and Proprietors
--- ---
(in millions of yen)
--- --- --- --- --- --- --- --- --- ---
As of<br>March 31, 2024<br>(A) Increase<br>(Decrease)<br>(A) - (B) As of<br>March 31, 2023<br>(B)
Outstanding amount **** 41,020,108 **** 701,705 40,318,403
% to total domestic loans **** 57.49 % (0.59 )% 58.08 %

BK Non-consolidated

(1) Domestic Consumer Loans

(in millions of yen)
Asof<br>March 31, 2024<br>(A) Increase<br>(Decrease)<br>(A) - (B) Asof<br>March 31, 2023<br>(B)
Total domestic consumer loans **** 14,315,262 (294,078 ) 14,609,341
Housing loans **** 13,597,362 (320,319 ) 13,917,682
Residential purpose **** 11,920,862 (267,821 ) 12,188,683
Other **** 717,899 26,241 691,658

(2) Domestic Loans to Small/Medium-Sized Companies and Proprietors

(in millions of yen)
Asof<br>March 31, 2024<br>(A) Increase<br>(Decrease)<br>(A) - (B) Asof<br>March 31, 2023<br>(B)
Outstanding amount **** 39,981,453 **** 849,743 39,131,710
% to total domestic loans **** 58.23 % (0.46 )% 58.69 %

TB Non-consolidated

(1) Domestic Consumer Loans

(in millions of yen)
As of<br>March 31, 2024<br>(A) Increase<br>(Decrease)<br>(A) - (B) Asof<br>March 31, 2023<br>(B)
Total domestic consumer loans **** 636,906 (75,633 ) 712,539
Housing loans **** 636,325 (75,316 ) 711,642
Residential purpose **** 635,984 (75,266 ) 711,251
Other **** 580 (317 ) 897

(2) Domestic Loans to Small/Medium-Sized Companies and Proprietors

(in millions of yen)
As of<br>March 31, 2024<br>(A) Increase<br>(Decrease)<br>(A) - (B) Asof<br>March 31, 2023<br>(B)
Outstanding amount **** 785,824 **** (123,841 ) 909,665
% to total domestic loans **** 70.07 % 8.05 % 62.02 %

TB Non-consolidated: Trust Accounts

(1) Domestic Consumer Loans

(in millions of yen)
As of<br>March 31, 2024<br>(A) Increase<br>(Decrease)<br>(A) - (B) Asof<br>March 31, 2023<br>(B)
Total domestic consumer loans **** 2,563 (470 ) 3,033
Housing loans **** 2,563 (470 ) 3,033
Residential purpose **** 2,557 (462 ) 3,020
Other **** — — —

(2) Domestic Loans to Small/Medium-Sized Companies and Proprietors

(in millions of yen)
As of<br>March 31, 2024<br>(A) Increase<br>(Decrease)<br>(A) - (B) Asof<br>March 31, 2023<br>(B)
Outstanding amount **** 252,831 **** (24,196 ) 277,027
% to total domestic loans **** 16.10 % (5.57 )% 21.67 %

26

Mitsubishi UFJ Financial Group, Inc.

11. Overseas Loans

BK Consolidated excl. KS, BDI

(in millions of yen)
As of<br>March 31, 2024<br>(A) Increase<br>(Decrease)<br>(A) - (B) As of<br>March 31, 2023<br>(B)
Americas **** 15,567,526 2,338,859 13,228,667
United States **** 13,474,068 2,214,653 11,259,415
Canada **** 749,349 (20,842 ) 770,191
Brazil **** 453,903 6,586 447,316
Mexico **** 331,932 23,172 308,760
Others **** 558,272 115,289 442,983
Asia/Oceania **** 12,101,999 884,253 11,217,745
Hong Kong **** 2,072,004 18,167 2,053,836
Australia **** 1,724,953 194,938 1,530,014
China **** 1,523,829 (79,741 ) 1,603,570
Singapore **** 1,457,176 46,357 1,410,819
India **** 1,358,270 398,749 959,521
Indonesia **** 1,108,536 307,488 801,047
Malaysia **** 741,780 (16,607 ) 758,388
Korea **** 602,093 89,275 512,817
New Zealand **** 424,736 47,044 377,691
Taiwan **** 415,172 (139,800 ) 554,973
Philippines **** 275,854 72,271 203,582
Others **** 397,591 (53,890 ) 451,482
EMEA **** 9,546,849 383,902 9,162,946
United Kingdom **** 2,009,259 (285,302 ) 2,294,561
Netherlands **** 1,133,891 147,199 986,691
Germany **** 794,459 (21,984 ) 816,444
France **** 731,430 122,420 609,009
Luxembourg **** 592,202 (1,244 ) 593,447
Ireland **** 442,328 133,407 308,921
Qatar **** 254,562 113,009 141,553
Switzerland **** 234,648 32,335 202,313
Italy **** 229,058 31,694 197,364
Saudi Arabia **** 221,374 (59,555 ) 280,929
Turkey **** 203,900 (13,078 ) 216,978
Spain **** 202,333 25,944 176,389
Mauritius **** 156,852 39,257 117,595
United Arab Emirates **** 153,111 (76,221 ) 229,333
Belgium **** 145,207 (7,349 ) 152,556
Russia **** 109,794 (31,417 ) 141,212
Sweden **** 107,463 65,457 42,005
Others **** 1,824,968 169,331 1,655,637
Total **** 37,216,375 3,607,015 33,609,359

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

(in millions of yen)
As of<br>March 31, 2024<br>(A) Increase<br>(Decrease)<br>(A) - (B) As of<br>March 31, 2023<br>(B)
KS **** 6,336,261 658,448 5,677,812
BDI **** 1,416,667 334,819 1,081,848

27

Mitsubishi UFJ Financial Group, Inc.

12. Loans and Deposits

BK and TB Combined

(in millions of yen)
As of<br>March 31, 2024<br>(A) Increase<br>(Decrease)<br><br>(A) - (B) As of<br>March 31, 2023<br>(B)
Deposits (ending balance) **** 212,813,930 9,465,288 203,348,641
Deposits (average balance) **** 210,432,802 10,086,470 200,346,332
Loans (ending balance) **** 105,665,210 6,265,358 99,399,851
Loans (average balance) **** 106,241,940 6,497,630 99,744,310
BK Non-consolidated
(in millions of yen)
As of<br>March 31, 2024<br>(A) Increase<br>(Decrease)<br>(A) - (B) As of<br>March 31, 2023<br>(B)
Deposits (ending balance) **** 200,064,588 7,792,298 192,272,289
Deposits (average balance) **** 198,236,443 9,201,655 189,034,788
Loans (ending balance) **** 103,444,984 6,317,234 97,127,749
Loans (average balance) **** 103,937,886 6,800,750 97,137,135
TB Non-consolidated
(in millions of yen)
As of<br>March 31, 2024<br>(A) Increase<br>(Decrease)(A) - (B) As of<br>March 31, 2023<br>(B)
Deposits (ending balance) **** 12,749,342 1,672,990 11,076,351
Deposits (average balance) **** 12,196,358 884,814 11,311,544
Loans (ending balance) **** 2,220,225 (51,876 ) 2,272,102
Loans (average balance) **** 2,304,054 (303,120 ) 2,607,174

28

Mitsubishi UFJ Financial Group, Inc.

13. Domestic Deposits

BK and TB Combined

(in millions of yen)
As of<br>March 31, 2024<br>(A) Increase<br>(Decrease)<br><br>(A) - (B) Asof<br>March 31, 2023<br>(B)
Individuals **** 92,726,562 1,871,939 90,854,622
Corporations and others **** 83,551,151 1,405,588 82,145,562
Domestic deposits **** 176,277,713 3,277,528 173,000,185
Note: Amounts do not include negotiable certificates of deposit and JOM accounts.
BK Non-consolidated
(in millions of yen)
As of<br>March 31, 2024<br>(A) Increase<br>(Decrease)<br>(A) - (B) As of<br>March 31, 2023<br>(B)
Individuals **** 86,762,670 2,044,123 84,718,547
Corporations and others **** 79,083,251 274,403 78,808,847
Domestic deposits **** 165,845,921 2,318,526 163,527,394
Note: Amounts do not include negotiable certificates of deposit and JOM accounts.
TB Non-consolidated
(in millions of yen)
As of<br>March 31, 2024<br>(A) Increase<br>(Decrease)<br>(A) - (B) As of<br>March 31, 2023<br>(B)
Individuals **** 5,963,892 (172,183 ) 6,136,075
Corporations and others **** 4,467,899 1,131,185 3,336,714
Domestic deposits **** 10,431,792 959,002 9,472,790
Note: Amounts do not include negotiable certificates of deposit and JOM accounts.

29

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 ofMarch 31, 2024(A) Increase<br>(Decrease)<br>(A) - (B) Asof<br>March 31, 2023<br>(B)
Deferred tax assets **** 1,221.6 **** 165.1 1,056.5
Allowance for credit losses **** 300.8 **** 54.3 246.5
Write-down on investment securities **** 357.0 **** (9.0 ) 366.0
Unrealized losses on Available-for-sale securities **** 133.7 **** (23.6 ) 157.4
Reserve for retirement benefits **** 75.1 **** (6.7 ) 81.9
Reserve for contingent losses **** 22.3 **** 0.5 21.8
Depreciation and Impairment losses **** 85.0 **** 1.5 83.5
Devaluation on land upon merger **** 20.2 **** (1.3 ) 21.5
Net deferred losses on hedging instruments **** 360.7 **** 146.6 214.0
Other **** 250.3 **** (8.0 ) 258.3
Valuation allowance **** (384.0 ) 10.7 (394.7 )
Deferred tax liabilities **** 955.6 **** 297.7 657.9
Unrealized gains on Available-for-sale securities **** 747.9 **** 303.0 444.8
Revaluation gains on securities upon merger **** 44.4 **** (2.7 ) 47.1
Gains on securities contributed to employees’ retirement benefits trust **** 42.6 **** (2.4 ) 45.1
Other **** 120.6 **** (0.0 ) 120.7
Net deferred tax assets **** 265.9 **** (132.6 ) 398.6

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

(in billions of yen)
FY2018 FY2019 FY2020 FY2021 FY2022 FY2023
Net operating profits before provision for general allowance for credit losses 388.4 395.2 388.0 374.4 690.4 974.6
Total credit costs 128.5 11.8 (223.3 ) (234.0 ) (98.5 ) (244.3 )
Income before income taxes 767.2 (535.9 ) 205.5 286.1 1,239.5 994.7
Reconciliation to taxable income (500.2 ) 844.6 98.5 343.3 (453.8 ) (57.6 )
Taxable income 267.0 308.7 304.1 629.5 785.7 937.1

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

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

30

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, 2024<br>(A) Increase<br>(Decrease)<br>(A) - (B) As of<br>March 31, 2023<br>(B)
Deferred tax assets **** 73.4 **** 7.9 65.4
Gains on securities related to employees’ retirement benefits trust **** 52.2 **** 16.0 36.2
Depreciation and Impairment losses **** 10.1 **** 0.4 9.6
Write-down on investment securities **** 7.7 **** (0.6 ) 8.3
Group tax sharing transactions **** 6.3 **** (4.4 ) 10.8
Reserve for contingent losses **** 2.1 **** (0.8 ) 3.0
Other **** 18.2 **** (3.7 ) 21.9
Valuation allowance **** (23.4 ) 1.1 (24.6 )
Deferred tax liabilities **** 263.1 **** 53.5 209.6
Reserve for retirement benefits **** 114.4 **** 10.8 103.6
Unrealized gains on Available-for-sale securities **** 99.2 **** 45.3 53.8
Net deferred gains on hedging instruments **** 35.0 **** (3.7 ) 38.7
Other **** 14.4 **** 1.0 13.3
Net deferred tax assets **** (189.7 ) (45.6 ) (144.1 )

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

(in billions of yen)
FY2018 FY2019 FY2020 FY2021 FY2022 FY2023
Net operating profits before credit costs for trust accounts and provision for general allowance<br>for credit losses 144.5 142.3 132.3 176.4 109.1 70.4
Total credit costs 1.3 0.8 0.0 0.1 (0.2 ) (0.1 )
Income before income taxes 127.9 148.6 129.4 210.6 165.7 75.1
Reconciliation to taxable income (79.2 ) (39.3 ) (26.5 ) (37.4 ) (49.7 ) (18.9 )
Taxable income 48.7 109.3 102.9 173.1 116.0 56.2

(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<br>March 31, 2024<br>(A) Increase<br>(Decrease)<br>(A) - (B) As of<br>March 31, 2023<br>(B)
Projected benefit obligation (reserve type) (A) **** 1,579,494 **** (107,222 ) 1,686,716
Projected benefit obligation (non-reserve type) (B) **** 100,291 **** 15,802 84,488
Fair value of plan assets (C) **** 3,560,132 **** 549,937 3,010,195
Net amount recorded on the Consolidated Balance Sheet (A) + (B) - (C) **** (1,880,346 ) (641,356 ) (1,238,989 )
Net defined benefit liability **** 102,155 **** 15,710 86,445
Net defined benefit asset **** (1,982,502 ) (657,067 ) (1,325,434 )

(2) Net periodic cost of retirement benefits

(in millions of yen)
For the fiscal year<br>ended<br>March 31, 2024(A) Increase<br>(Decrease)<br>(A) - (B) For the fiscal year<br>ended<br>March 31, 2023(B)
Net periodic cost of retirement benefits regarding defined benefit pension plans **** (31,364 ) (41,525 ) 10,161
Service cost **** 49,234 **** (10,914 ) 60,149
Interest cost **** 29,799 **** (5,884 ) 35,683
Expected return on plan assets **** (94,319 ) 37,578 (131,898 )
Amortization of unrecognized prior service cost **** 99 **** 3,023 (2,924 )
Amortization of unrecognized net actuarial loss **** (40,711 ) 3,977 (44,688 )
Losses on pension buyout **** — **** (78,111 ) 78,111
Other **** 24,533 **** 8,805 15,728

(3) Assumptions used in calculation of projected benefit obligation

As of March 31, 2024
Discount rates Domestic consolidated subsidiaries 0.22%~1.83 %
Overseas consolidated subsidiaries 1.92%~9.63 %
Expected return Domestic consolidated subsidiaries 1.50%~3.60 %
Overseas consolidated subsidiaries 3.10%~9.63 %

32

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(1) Benefit obligation

(in millions of yen)
As of<br>March 31, 2024<br>(A) Increase<br>(Decrease)<br>(A) - (B) As of<br>March 31, 2023<br>(B)
Projected benefit obligation (A) **** 1,211,731 **** (64,137 ) 1,275,869
Discount rates **** (1.4% ~ 1.8 %) (1.1% ~ 1.4 %)
Fair value of plan assets (B) **** 2,466,312 **** 371,135 2,095,176
Prepaid pension cost (C) **** 730,933 **** 85,164 645,769
Reserve for retirement benefits (D) **** 20,421 **** 5,976 14,444
Total amount unrecognized<br>(A) - (B) + (C) - (D) **** (544,069 ) (356,085 ) (187,983 )
Unrecognized net actuarial loss **** (543,866 ) (356,231 ) (187,634 )
Unrecognized prior service cost **** (202 ) 146 (348 )

(2) Net periodic cost

(in millions of yen)
For the fiscal year<br>ended<br>March 31, 2024<br>(A) Increase(Decrease)(A) - (B) For the fiscal year<br>ended<br>March 31, 2023<br>(B)
Net periodic cost of retirement benefits **** (14,505 ) (48,503 ) 33,998
Service cost **** 32,344 **** 1,434 30,910
Interest cost **** 21,882 **** 3,112 18,769
Expected return on plan assets **** (62,992 ) 1,989 (64,982 )
Amortization of unrecognized prior service cost **** (194 ) 234 (428 )
Amortization of unrecognized net actuarial loss **** (38,463 ) 11,359 (49,822 )
Losses on pension buyout **** — **** (78,111 ) 78,111
Other **** 32,917 **** 11,478 21,438

33

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Benefit obligation

(in millions of yen)
As ofMarch 31, 2024(A) Increase(Decrease)(A) - (B) As ofMarch 31, 2023(B)
Projected benefit obligation (A) **** 279,110 **** (18,434 ) 297,544
Discount rates **** (1.3% ~ 1.7%) **** (1% ~ 1.3%)
Fair value of plan assets (B) **** 940,088 **** 185,461 754,626
Prepaid pension cost (C) **** 492,768 **** 35,335 457,432
Reserve for retirement benefits (D) **** — **** — —
Total amount unrecognized (A) - (B) + (C) - (D) **** (168,209 ) (168,560 ) 350
Unrecognized net actuarial loss **** (169,325 ) (168,338 ) (986 )
Unrecognized prior service cost **** 1,115 **** (221 ) 1,337

(2) Net periodic cost

(in millions of yen)
For the fiscal yearendedMarch 31, 2024(A) Increase(Decrease)(A) - (B) For the fiscal yearendedMarch 31, 2023(B)
Net periodic cost of retirement benefits **** (18,653 ) 2,106 (20,760 )
Service cost **** 4,831 **** (773 ) 5,604
Interest cost **** 3,668 **** 986 2,682
Expected return on plan assets **** (27,465 ) 637 (28,103 )
Amortization of unrecognized prior service cost **** 221 **** — 221
Amortization of unrecognized net actuarial loss **** (393 ) 1,228 (1,622 )
Other **** 484 **** 27 457

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 ofMarch 31, 2023 As ofMarch 31, 2024
Assets:
Cash and due from banks 90,898,274 89,284,902
Call loans 750,795 1,266,925
Receivables under resale agreements 1,326,697 1,241,358
Monetary claims bought 4,326,066 4,730,143
Trading assets 6,306,376 6,263,383
Money held in trust 45,161 37,178
Securities 72,253,876 69,957,384
Loans and bills discounted 97,127,749 103,444,984
Foreign exchanges 1,726,923 2,030,007
Other assets 8,923,802 10,604,231
Tangible fixed assets 699,817 688,751
Intangible fixed assets 454,137 493,516
Prepaid pension costs 645,769 730,933
Deferred tax assets 398,626 265,948
Customers’ liabilities for acceptances and guarantees 8,661,518 9,335,180
Allowance for credit losses (641,107 ) (841,518 )
Total assets 293,904,485 299,533,310

35

Mitsubishi UFJ Financial Group, Inc.

(in millions of yen) As ofMarch 31, 2023 As ofMarch 31, 2024
Liabilities:
Deposits 192,272,289 200,064,588
Negotiable certificates of deposit 8,792,227 10,912,738
Call money 23,449 683,360
Payables under repurchase agreements 25,271,176 14,790,983
Payables under securities lending transactions 181,473 —
Commercial papers 1,834,968 2,807,589
Trading liabilities 2,835,605 3,355,951
Borrowed money 33,356,232 34,810,924
Foreign exchanges 2,779,176 3,719,588
Bonds payable 1,284,731 1,250,571
Other liabilities 7,564,963 8,105,838
Reserve for bonuses 71,830 85,950
Reserve for bonuses to directors 148 148
Reserve for stocks payment 3,705 4,597
Reserve for retirement benefits 14,444 20,421
Reserve for loyalty award credits 1,174 —
Reserve for contingent losses 71,357 73,000
Deferred tax liabilities for land revaluation 85,736 82,942
Acceptances and guarantees 8,661,518 9,335,180
Total liabilities 285,106,212 290,104,373
Net assets:
Capital stock 1,711,958 1,711,958
Capital surplus 3,878,275 3,878,275
Capital reserve 1,711,958 1,711,958
Other capital surplus 2,166,317 2,166,317
Retained earnings 3,306,434 3,637,579
Revenue reserve 190,044 190,044
Other retained earnings 3,116,389 3,447,534
Funds for retirement benefits 2,432 2,432
Reserve for investment promotion taxation 260 260
Other reserve 718,196 718,196
Earned surplus brought forward 2,395,500 2,726,645
Treasury stock (645,700 ) (645,700 )
Total shareholders’ equity 8,250,967 8,582,112
Net unrealized gains (losses) on available-for-sale securities 854,922 1,499,245
Net deferred gains (losses) on hedging instruments (476,124 ) (814,862 )
Land revaluation excess 168,507 162,441
Total valuation and translation adjustments 547,305 846,824
Total net assets 8,798,272 9,428,937
Total liabilities and net assets 293,904,485 299,533,310

36

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

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

(in millions of yen) For the fiscal yearendedMarch 31, 2023 For the fiscal yearendedMarch 31, 2024
Ordinary income 4,799,567 6,807,405
Interest income 3,202,838 4,942,626
Interest on loans and bills discounted 1,826,196 3,086,665
Interest and dividends on securities 834,551 887,669
Fees and commissions 681,922 807,090
Trading income 80,369 110,789
Other operating income 494,359 491,974
Other ordinary income 340,078 454,925
Ordinary expenses 3,895,822 5,807,634
Interest expenses 1,701,450 3,446,842
Interest on deposits 745,390 1,675,678
Fees and commissions 162,966 151,400
Trading expenses 1,607 1,217
Other operating expenses 664,590 469,385
General and administrative expenses 1,174,267 1,339,058
Other ordinary expenses 190,940 399,730
Ordinary profits 903,744 999,771
Extraordinary gains 437,287 20,745
Extraordinary losses 101,436 25,755
Income before income taxes 1,239,594 994,760
Income taxes - current 254,747 244,385
Income taxes - deferred (30,607 ) (53,885 )
Total taxes 224,140 190,499
Net income 1,015,454 804,260

37

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

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

(in millions of yen) As ofMarch 31, 2023 As ofMarch 31, 2024
Assets:
Cash and due from banks 13,673,282 13,589,516
Call loans 230,000 320,000
Receivables under resale agreements 77,370 81,636
Receivables under securities borrowing transactions 106,180 151,538
Monetary claims bought 124,086 15
Trading assets 78,114 70,459
Money held in trust 157,275 14,824
Securities 14,117,360 16,050,790
Loans and bills discounted 2,272,102 2,220,225
Foreign exchanges 248,948 281,805
Other assets 1,352,617 2,124,530
Tangible fixed assets 125,644 125,067
Intangible fixed assets 91,894 91,078
Prepaid pension costs 457,432 492,768
Customers’ liabilities for acceptances and guarantees 36,751 39,201
Allowance for credit losses (1,045 ) (966 )
Total assets 33,148,018 35,652,492

38

Mitsubishi UFJ Financial Group, Inc.

(in millions of yen) As ofMarch 31, 2023 As ofMarch 31, 2024
Liabilities:
Deposits 11,076,351 12,749,342
Negotiable certificates of deposit 4,675,417 5,385,777
Call money 5,165 1,493,171
Payables under repurchase agreements 5,281,893 6,191,612
Payables under securities lending transactions 4,041 —
Commercial papers 368,100 234,941
Trading liabilities 189,453 218,314
Borrowed money 1,679,724 2,087,312
Foreign exchanges 378,171 367,658
Short-term bonds payable 120,999 230,987
Bonds payable 30,000 30,000
Due to trust accounts 6,207,882 3,199,300
Other liabilities 846,818 1,038,897
Reserve for bonuses 5,163 5,571
Reserve for bonuses to directors 98 102
Reserve for stocks payment 2,855 3,891
Reserve for contingent losses 9,820 7,100
Deferred tax liabilities 144,164 189,776
Deferred tax liabilities for land revaluation 3,789 3,689
Acceptances and guarantees 36,751 39,201
Total liabilities 31,066,664 33,476,650
Net assets:
Capital stock 324,279 324,279
Capital surplus 455,970 455,970
Capital reserve 250,619 250,619
Other capital surplus 205,351 205,351
Retained earnings 1,368,530 1,358,924
Revenue reserve 73,714 73,714
Other retained earnings 1,294,816 1,285,210
Funds for retirement benefits 710 710
Reserve for investment promotion taxation 227 281
Other reserve 138,495 138,495
Earned surplus brought forward 1,155,383 1,145,723
Treasury stock (299,999 ) (299,999 )
Total shareholders’ equity 1,848,780 1,839,173
Net unrealized gains (losses) on available-for-sale securities 144,937 250,557
Net deferred gains (losses) on hedging instruments 87,817 85,588
Land revaluation excess (182 ) 523
Total valuation and translation adjustments 232,573 336,668
Total net assets 2,081,353 2,175,842
Total liabilities and net assets 33,148,018 35,652,492

39

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

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

(in millions of yen) For the fiscal yearendedMarch 31, 2023 For the fiscal yearendedMarch 31, 2024
Ordinary income 1,167,912 1,436,971
Trust fees 111,924 120,757
Interest income 761,508 1,005,801
Interest on loans and bills discounted 34,139 74,186
Interest and dividends on securities 627,380 697,894
Fees and commissions 154,590 163,247
Trading income 45 24
Other operating income 66,866 58,754
Other ordinary income 72,976 88,386
Ordinary expenses 996,773 1,356,388
Interest expenses 390,707 884,979
Interest on deposits 44,937 107,503
Fees and commissions 48,985 54,335
Trading expenses 22,207 13,884
Other operating expenses 326,663 113,372
General and administrative expenses 196,504 212,235
Other ordinary expenses 11,704 77,581
Ordinary profits 171,138 80,583
Extraordinary gains 764 2,177
Extraordinary losses 6,113 7,630
Income before income taxes 165,790 75,130
Income taxes - current 35,838 13,599
Income taxes - deferred 5,406 3,727
Total taxes 41,244 17,326
Net income 124,545 57,803

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 ofMarch 31, 2023 As ofMarch 31, 2024
Assets:
Loans and bills discounted 1,277,875 1,569,969
Securities 70,547,100 80,134,164
Beneficiary rights to the trust 118,934,755 145,116,404
Securities held in custody accounts 2,933,178 3,886,180
Monetary claims 32,819,251 34,138,163
Tangible fixed assets 20,879,125 22,750,084
Intangible fixed assets 165,299 186,122
Other claims 3,189,442 3,312,930
Call loans 3,673,857 4,455,397
Due from banking account 10,620,708 6,170,680
Cash and due from banks 6,927,037 6,181,323
Total 271,967,632 307,901,420
Liabilities:
Money trusts 33,565,350 37,371,516
Pension trusts 12,233,123 12,760,480
Property formation benefit trusts 6,273 5,738
Investment trusts 122,338,610 145,025,458
Money entrusted other than money trusts 6,153,057 7,167,100
Securities trusts 5,361,672 6,145,365
Monetary claim trusts 28,813,961 29,767,810
Equipment trusts 166,695 226,799
Land and fixtures trusts 18,626 18,425
Composite trusts 63,310,260 69,412,725
Total 271,967,632 307,901,420
Note: 1. The table shown above includes master trust assets under the service-shared co-trusteeship between TB and The Master Trust Bank of Japan, Ltd.
--- --- ---
2. Trust assets and liabilities under a declaration of trust excluded from above table are 280,332 millions of yen as of March 31, 2023 and 26,247 millions of yen as of March 31, 2024.

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 ofMarch 31, 2023 As ofMarch 31, 2024
Assets:
Loans and bills discounted 3,939 3,119
Other 6,405,078 3,289,438
Total 6,409,018 3,292,557
Liabilities:
Principal 6,408,838 3,292,449
Allowance for bad debts 11 9
Other 168 99
Total 6,409,018 3,292,557

41

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(4) Major Items

(in millions of yen) As ofMarch 31, 2023 As ofMarch 31, 2024
Total funds 61,556,516 68,272,855
Deposits 11,076,351 12,749,342
Negotiable certificates of deposit 4,675,417 5,385,777
Money trusts 33,565,350 37,371,516
Pension trusts 12,233,123 12,760,480
Property formation benefit trusts 6,273 5,738
Loans and bills discounted 3,549,977 3,790,194
Banking account 2,272,102 2,220,225
Trust account 1,277,875 1,569,969
Investment securities 84,664,460 96,184,954
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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