Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

Report of Foreign Private Issuer

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

the Securities Exchange Act of 1934

For the month of November 2021

Commission File No. 000-54189

MITSUBISHI UFJ FINANCIAL GROUP, INC.

(Translation of registrant’s name into English)

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

Tokyo 100-8330, Japan

(Address of principal executive office)

Indicate by check mark whether the registrant files or

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

Form 20-F X Form 40-F

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

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

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

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

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FROM THE DATE ON WHICH THIS REPORT IS FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED WITH OR FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION.

SIGNATURES

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

Date: November 15, 2021


Mitsubishi UFJ Financial Group, Inc.

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

LOGO

Consolidated Summary Report

<under Japanese GAAP>

for the six months ended September 30, 2021

November 15, 2021


Company name:		Mitsubishi UFJ Financial Group, Inc.
Stock exchange listings:		Tokyo, Nagoya, New York
Code number:		8306
URL		https://www.mufg.jp/
Representative:		Hironori Kamezawa, President & Group CEO
For inquiry:		Masahisa Takahashi, Managing Director, Head of Financial Accounting and Reporting, Financial Accounting Office, Financial Planning Division
		TEL (03) 5218-8890
Quarterly securities report issuing date:		November 29, 2021
Dividend payment date:		December 6, 2021
Trading accounts:		Established
Supplemental information for quarterly financial statements:		Available
Quarterly investor meeting presentation:		Scheduled (for investors and analysts)

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

1. Consolidated Financial Data for the Six Months ended September 30, 2021

(1)	Results of Operations


	(% represents the change from the same period in the previous fiscal year)
	Ordinary Income					Ordinary Profits					Profits Attributable to Owners of Parent
	million yen		%			million yen		%			million yen		%
For the six months ended
September 30, 2021		2,958,419		(5.8	)		986,006		67.0			781,433		95.0
September 30, 2020		3,139,256		(12.3	)		590,254		(25.4	)		400,826		(34.0	)

(*)	Comprehensive income

September 30, 2021: 1,221,301 million yen, 57.1 % ; September 30, 2020: 777,388 million yen, (4.6) %


	Basic earnings per share		Diluted earnings per share
	yen		yen
For the six months ended
September 30, 2021		60.87		60.69
September 30, 2020		31.21		31.11

(2)	Financial Conditions


	Total Assets		Total Net Assets		Equity-to-asset ratio (*)
	million yen		million yen		%
As of
September 30, 2021		360,444,676		18,748,570		4.9
March 31, 2021		359,473,515		17,716,257		4.7

(Reference) Shareholders’ equity as of September 30, 2021: 17,799,889 million yen ; March 31, 2021: 16,802,572 million yen

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

(Total

net assets - Non-controlling interests) / Total assets

2. Dividends on Common Stock


	Dividends per Share
	1st quarter-end		2nd quarter-end		3rd quarter-end		Fiscal year-end		Total
	yen		yen		yen		yen		yen
For the fiscal year
ended March 31, 2021		—		12.50		—		12.50		25.00
ending March 31, 2022		—		13.50
ending March 31, 2022 (Forecast)						—		14.50		28.00

(*)	Revision of forecasts for dividends on the presentation date of this Consolidated Summary Report : Yes

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

MUFG has the target of 1,050.0 billion yen of profits attributable to owners of parent for the fiscal year ending March 31, 2022. (There is a change to our earnings target released on May 17, 2021.)

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

øNotes

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

(2)	Changes in accounting policies, changes in accounting estimates and restatements

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

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

(D) Restatements: No

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


(A) Total stocks outstanding including treasury stocks:	September 30, 2021	13,581,995,120 shares
	March 31, 2021	13,581,995,120 shares
(B) Treasury stocks:	September 30, 2021	741,884,851 shares
	March 31, 2021	737,192,810 shares
(C) Average outstanding of total stocks:	Six months ended September 30, 2021	12,838,768,042 shares
	Six months ended September 30, 2020	12,842,231,893 shares

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

*Notes for using forecasted information etc.

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

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

Mitsubishi UFJ Financial Group, Inc.

(Appendix)

Contents of Appendix


1. Consolidated Financial Statements and Notes			2
(1) Consolidated Balance Sheets			2
(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income			4
(3) Consolidated Statements of Changes in Net Assets			6
(4) Notes on Going-Concern Assumption			8
(5) Changes in Accounting Policies			8
(6) Changes in Presentation of Financial Information			8
(7) Additional Information			9
(8) Significant Subsequent Events			10

Supplemental Information:

“Selected Financial Information under Japanese GAAP For the Six Months Ended September 30, 2021”

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


Internet Conference:		November 15, 2021 (Monday)
Explanation for investors and analysts:		November 18, 2021 (Thursday)

Mitsubishi UFJ Financial Group, Inc.

1. Consolidated Financial Statements and Notes

(1) Consolidated Balance Sheets


(in millions of yen)	As of March 31, 2021			As of September 30, 2021
Assets:
Cash and due from banks		102,980,711			104,590,474
Call loans and bills bought		730,506			951,865
Receivables under resale agreements		13,942,910			11,905,251
Receivables under securities borrowing transactions		3,394,376			3,462,677
Monetary claims bought		5,982,876			6,123,711
Trading assets		20,552,367			19,941,926
Money held in trust		1,283,179			1,301,176
Securities		77,122,074			82,336,687
Loans and bills discounted		107,183,069			104,266,716
Foreign exchanges		1,915,010			1,899,981
Other assets		12,406,158			11,036,252
Tangible fixed assets		1,296,402			1,270,436
Intangible fixed assets		1,436,098			1,446,594
Net defined benefit assets		1,210,577			1,265,500
Deferred tax assets		137,988			150,680
Customers’ liabilities for acceptances and guarantees		9,004,749			9,485,474
Allowance for credit losses		(1,105,541	)		(990,732	)

Total assets		359,473,515			360,444,676

Liabilities:
Deposits		211,521,257			212,274,571
Negotiable certificates of deposit		8,099,119			8,945,312
Call money and bills sold		2,330,808			2,501,861
Payables under repurchase agreements		24,483,519			25,406,345
Payables under securities lending transactions		836,351			831,260
Commercial papers		1,810,350			1,571,172
Trading liabilities		14,002,667			12,302,402
Borrowed money		31,110,465			30,121,043
Foreign exchanges		2,105,245			1,963,945
Short-term bonds payable		1,043,001			1,029,004
Bonds payable		12,908,505			12,920,873
Due to trust accounts		11,208,570			10,676,992
Other liabilities		9,754,731			10,056,534
Reserve for bonuses		118,358			98,964
Reserve for bonuses to directors		1,816			971
Reserve for stocks payment		10,915			7,415
Net defined benefit liabilities		88,914			92,982
Reserve for retirement benefits to directors		872			762
Reserve for loyalty award credits		18,312			19,229
Reserve for contingent losses		183,855			166,106
Reserves under special laws		4,642			4,644
Deferred tax liabilities		1,008,650			1,120,959
Deferred tax liabilities for land revaluation		101,577			97,276
Acceptances and guarantees		9,004,749			9,485,474

Total liabilities		341,757,258			341,696,105

Mitsubishi UFJ Financial Group, Inc.


(in millions of yen)	As of March 31, 2021			As of September 30, 2021
Net assets:
Capital stock		2,141,513			2,141,513
Capital surplus		977,287			974,726
Retained earnings		11,200,087			11,821,420
Treasury stock		(502,794	)		(505,742	)

Total shareholders’ equity		13,816,094			14,431,918

Net unrealized gains (losses) on available-for-sale securities		2,583,417			2,630,249
Net deferred gains (losses) on hedging instruments		131,566			121,811
Land revaluation excess		149,183			141,748
Foreign currency translation adjustments		9,953			367,296
Remeasurements of defined benefit plans		163,189			151,721
Debt value adjustments of foreign subsidiaries and affiliates		(50,832	)		(44,856	)

Total accumulated other comprehensive income		2,986,478			3,367,971

Non-controlling interests		913,684			948,680

Total net assets		17,716,257			18,748,570

Total liabilities and net assets		359,473,515			360,444,676

Mitsubishi UFJ Financial Group, Inc.

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

Consolidated Statements of Income


(in millions of yen)	For the six months ended September 30, 2020			For the six months ended September 30, 2021
Ordinary income		3,139,256			2,958,419
Interest income		1,438,090			1,260,434
Interest on loans and bills discounted		961,639			803,807
Interest and dividends on securities		237,729			271,233
Trust fees		71,386			71,607
Fees and commissions		726,752			822,700
Trading income		195,183			120,262
Other operating income		432,637			198,752
Other ordinary income		275,205			484,661
Ordinary expenses		2,549,001			1,972,413
Interest expenses		471,680			268,052
Interest on deposits		163,963			94,620
Fees and commissions		142,852			149,531
Trading expenses		—			2,516
Other operating expenses		191,782			72,815
General and administrative expenses		1,339,604			1,333,552
Other ordinary expenses		403,082			145,944

Ordinary profits		590,254			986,006

Extraordinary gains		20,897			115,676
Gains on disposition of fixed assets		13,553			17,439
Gains on change in equity		—			64,944
Gains on sales of shares of affiliates		7,344			29,053
Gains on sales of shares of subsidiaries		—			4,240
Extraordinary losses		38,533			45,742
Losses on disposition of fixed assets		4,365			4,598
Losses on impairment of fixed assets		17,489			21,484
Provision for reserve for contingent liabilities from financial instruments transactions		97			1
Losses on change in equity		16,580			19,657

Profits before income taxes		572,619			1,055,941

Income taxes-current		171,042			153,153
Income taxes-deferred		(38,663	)		72,592

Total taxes		132,378			225,745

Profits		440,240			830,195

Profits attributable to non-controlling interests		39,413			48,761

Profits attributable to owners of parent		400,826			781,433

Mitsubishi UFJ Financial Group, Inc.

Consolidated Statements of Comprehensive Income


(in millions of yen)	For the six months ended September 30, 2020			For the six months ended September 30, 2021
Profits		440,240			830,195
Other comprehensive income
Net unrealized gains (losses) on available-for-sale securities		415,417			67,776
Net deferred gains (losses) on hedging instruments		40,733			(12,482	)
Foreign currency translation adjustments		(167,272	)		240,622
Remeasurements of defined benefit plans		10,425			(12,215	)
Share of other comprehensive income of associates accounted for using equity method		37,843			107,405

Total other comprehensive income		337,147			391,106

Comprehensive income		777,388			1,221,301

(Comprehensive income attributable to)
Comprehensive income attributable to owners of parent		748,486			1,170,361
Comprehensive income attributable to non-controlling interests		28,901			50,939

Mitsubishi UFJ Financial Group, Inc.

(3) Consolidated Statements of Changes in Net Assets

For the six months ended September 30, 2020


	(in millions of yen)
	Shareholders’ equity														Accumulated other comprehensive income
	Capital stock		Capital surplus			Retained earnings			Treasury stock			Total shareholders’ equity			Net unrealized gains (losses) on available- for-sale securities		Net deferred gains (losses) on hedging instruments
Balance at the beginning of the period		2,141,513		980,102			10,855,798			(505,518	)		13,471,894			2,066,363		189,342
Cumulative effects due to revision of accounting standards for foreign subsidiaries and affiliates							(120,236	)					(120,236	)
Restated balance		2,141,513		980,102			10,735,561			(505,518	)		13,351,657			2,066,363		189,342
Changes during the period
Cash dividends							(160,918	)					(160,918	)
Profits attributable to owners of parent							400,826						400,826
Repurchase of treasury stock										(4	)		(4	)
Disposal of treasury stock				(0	)					2,577			2,577
Reversal of land revaluation excess							6,792						6,792
Changes of application of equity method							(104	)					(104	)
Changes in subsidiaries’ equity				(2,807	)								(2,807	)
Net changes of items other than shareholders’ equity																456,565		38,546

Total changes during the period		—		(2,807	)		246,596			2,572			246,361			456,565		38,546

Balance at the end of the period		2,141,513		977,294			10,982,157			(502,946	)		13,598,019			2,522,928		227,888


	Accumulated other comprehensive income
	Land revaluation excess			Foreign currency translation adjustments			Remeasurements of defined benefit plans			Debt value adjustments of foreign subsidiaries and affiliates			Total accumulated other comprehensive income		Subscription rights to shares			Non- controlling interests			Total net assets
Balance at the beginning of the period		158,633			300,838			(159,766	)		(36,470	)		2,518,940		59			864,844			16,855,738
Cumulative effects due to revision of accounting standards for foreign subsidiaries and affiliates																			(24,806	)		(145,043	)
Restated balance		158,633			300,838			(159,766	)		(36,470	)		2,518,940		59			840,037			16,710,695
Changes during the period
Cash dividends																						(160,918	)
Profits attributable to owners of parent																						400,826
Repurchase of treasury stock																						(4	)
Disposal of treasury stock																						2,577
Reversal of land revaluation excess																						6,792
Changes of application of equity method																						(104	)
Changes in subsidiaries’ equity																						(2,807	)
Net changes of items other than shareholders’ equity		(6,792	)		(193,205	)		11,084			33,714			339,913		(59	)		25,548			365,403

Total changes during the period		(6,792	)		(193,205	)		11,084			33,714			339,913		(59	)		25,548			611,764

Balance at the end of the period		151,840			107,633			(148,681	)		(2,755	)		2,858,854		—			865,586			17,322,460

Mitsubishi UFJ Financial Group, Inc.

For the six months ended September 30, 2021


	(in millions of yen)
	Shareholders’ equity															Accumulated other comprehensive income
	Capital stock			Capital surplus			Retained earnings			Treasury stock			Total shareholders’ equity			Net unrealized gains (losses) on available- for-sale securities			Net deferred gains (losses) on hedging instruments
Balance at the beginning of the period		2,141,513			977,287			11,200,087			(502,794	)		13,816,094			2,583,417			131,566
Cumulative effects of changes in accounting policies								(6,617	)					(6,617	)
Restated balance		2,141,513			977,287			11,193,470			(502,794	)		13,809,476			2,583,417			131,566
Changes during the period
Cash dividends								(160,918	)					(160,918	)
Profits attributable to owners of parent								781,433						781,433
Repurchase of treasury stock											(8,521	)		(8,521	)
Disposal of treasury stock					(0	)					5,573			5,573
Reversal of land revaluation excess								7,434						7,434
Changes in subsidiaries’ equity					(2,560	)								(2,560	)
Net changes of items other than shareholders’ equity																	46,831			(9,755	)

Total changes during the period		—			(2,560	)		627,950			(2,948	)		622,441			46,831			(9,755	)

Balance at the end of the period		2,141,513			974,726			11,821,420			(505,742	)		14,431,918			2,630,249			121,811


	Accumulated other comprehensive income
	Land revaluation excess			Foreign currency translation adjustments			Remeasurements of defined benefit plans			Debt value adjustments of foreign subsidiaries and affiliates			Total accumulated other comprehensive income			Non- controlling interests			Total net assets
Balance at the beginning of the period		149,183			9,953			163,189			(50,832	)		2,986,478			913,684			17,716,257
Cumulative effects of changes in accounting policies																	(14	)		(6,632	)
Restated balance		149,183			9,953			163,189			(50,832	)		2,986,478			913,669			17,709,625
Changes during the period
Cash dividends																				(160,918	)
Profits attributable to owners of parent																				781,433
Repurchase of treasury stock																				(8,521	)
Disposal of treasury stock																				5,573
Reversal of land revaluation excess																				7,434
Changes in subsidiaries’ equity																				(2,560	)
Net changes of items other than shareholders’ equity		(7,434	)		357,343			(11,467	)		5,975			381,493			35,010			416,503

Total changes during the period		(7,434	)		357,343			(11,467	)		5,975			381,493			35,010			1,038,945

Balance at the end of the period		141,748			367,296			151,721			(44,856	)		3,367,971			948,680			18,748,570

Mitsubishi UFJ Financial Group, Inc.

(4) Notes on Going-Concern Assumption

None.

(5) Changes in Accounting Policies

(Accounting Standard for Revenue Recognition)

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

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

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

In accordance with the transitional measures set forth in paragraph 89-3 of the Accounting Standard for Revenue Recognition, information on breakdowns of revenues from contracts with customers for the six months ended September 30, 2020 is not disclosed.

(6) Changes in Presentation of Financial Information

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

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

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

As a result, fees and commissions expenses of ¥107,688 million and general and administrative expenses of ¥1,374,768 million previously presented in the consolidated statement of income for the six months ended September 30, 2020 have been restated, resulting in the current presentation of fees and commissions expenses of ¥142,852 million and general and administrative expenses of ¥1,339,604 million.

Mitsubishi UFJ Financial Group, Inc.

(7) Additional Information

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

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

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

When calculating allowance for credit losses, MUFG Bank, Ltd., our principal consolidated domestic banking subsidiary, determines expected loss rates primarily by calculating a rate of loss based on a historical average of the credit loss rate or a historical average of the default probability derived from actual credit loss experience or actual bankruptcy experience and making necessary adjustments based on future projections and other factors. When making adjustments based on future loss projections and other factors to loss rates calculated based on historical loss experience, the subsidiary takes into account the rate of increase in the credit loss rate or the default probability in a more recent period, especially in light of the deterioration in the economic environment under the COVID-19 pandemic. The amount of impact of these adjustments was ¥5,148 million for the six months ended September 30, 2021 (¥30,846 million for the fiscal year ended March 31, 2021).

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

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

For the six-month period ended September 30, 2021, the assumptions for making estimates relating to allowance for credit losses remained substantially unchanged because the observable changes subsequent to the end of the previous fiscal year in the factors and circumstances underlying the assumptions were not sufficiently significant to cause such change in the assumptions. However, these assumptions are highly uncertain, and significant additional provision for credit losses may be recognized for the nine-month period ending December 31, 2021 and subsequent reporting periods due to developments affecting the impact of the COVID-19 pandemic on the financial performance of counterparties or on the economic environment.

Mitsubishi UFJ Financial Group, Inc.

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

Major overseas subsidiaries which were consolidated based on their financial statements as of and for the quarter ended June 30, 2021 adopted ASU 2016-13, “ Measurement of Credit Losses on Financial Instruments,” the new guidance that introduced the concept of current expected credit loss, as of the beginning of the first quarter of the fiscal year ended December 31, 2020. As a result, these subsidiaries record provision for allowance for credit losses by taking into account certain forecasted information such as macroeconomic indicators.

Under the new guidance, it is currently estimated that the subsidiaries will record gains of approximately ¥30 billion in total for the quarter ended September 30, 2021. The estimate includes gains on reversal of allowance for credit losses related to the loans held for sale subject to valuation in accordance with Accounting Standards Codification (ASC) 310 “ Receivables” released by the FASB, as MUFG Americas Holdings Corporation (“MUAH”), a consolidated subsidiary of MUFG, has entered into a Share Purchase Agreement with U.S. Bancorp (“USB”) to sell all of the shares in MUFG Union Bank, N.A. (“MUB”) held by MUAH. Further details of the planned sale are described in “(8) Significant Subsequent Events” below. The subsidiaries’ total gains will be reflected in MUFG’ s consolidated financial statements as of and for the quarter ending December 31, 2021.

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

(8) Significant Subsequent Events

(Agreement for the Sale of MUFG Union Bank, and Transfer of Certain Businesses of MUFG Union Bank)

On September 21, 2021, MUAH, a subsidiary of MUFG whose financial statements as of and for the six-month period ended June 30, 2021 have been consolidated with MUFG’s financial statements included in this report, entered into a Share Purchase Agreement with USB to sell all of the shares in MUB held by MUAH.

The MUB businesses that will be transferred to USB through the planned transfer of the MUB shares (“Share Transfer”) exclude the GCIB (Global Corporate & Investment Banking) business, the Global Markets business to the extent related to the GCIB business (transactions with clients and investors) that is currently run by MUB, and certain assets and liabilities, etc. that are part of shared middle and back office functions, etc. It was decided by a resolution of the Board of Directors of MUFG Bank, Ltd. (“MUFG Bank”) subsequent to the reporting period (ended September 30, 2021) that such businesses, and the customer assets and liabilities, etc. related to these businesses (including related transactions with such customers), will be transferred to MUFG Bank’s U.S. branches, subsidiaries or affiliates prior to the Share Transfer for consideration to be paid in the form of cash.

(A) Business Divestiture

(a) Outline of the business divestiture

(i) Name of the acquiring entity

U.S. Bancorp

(ii) Description of the businesses to be divested

Retail and Commercial Banking businesses of MUB

Mitsubishi UFJ Financial Group, Inc.

(iii) Main objectives of the business divestiture

MUFG has viewed the U.S. regional banking business as an important business for the group’s strategy. At the same time, given MUB’s current business environment, including the need for increased technology investments as part of digital transformation, a certain scale is required to maintain and strengthen MUB’s competitiveness.

Under these circumstances, MUFG concluded that transferring MUB to USB, a major U.S. bank with a strong business foundation, is the most appropriate decision that is expected to lead to providing higher quality financial services to customers and communities and unlock MUB’s potential franchise value. From the perspective of MUFG’s optimization of management resources under the current medium-term business plan, MUFG determined that the sale of MUB and the shift of focus to corporate transactions in the United States are expected to maximize shareholder value through an increase in capital efficiency.

(iv) Date of the business divestiture

Expected to be effective in the first half of calendar year 2022

(v) Legal form of the business divestiture

Transfer of shares for consideration to be paid in the form of cash and shares

(b) Name of the reporting segment in which the businesses to be divested are mainly included

Global Commercial Banking Business Group

(B) Transaction under Common Control

(a) Overview and objectives of the business transfer

The GCIB (Global Corporate & Investment Banking) business, the Global Markets business to the extent related to the GCIB business (transactions with clients and investors) that is currently run by MUB, and certain assets and liabilities, etc. that are part of shared middle and back office functions, etc., are expected to be transferred from MUB to MUFG Bank’s U.S. branches, subsidiaries or affiliates prior to the Share Transfer.

The MUFG group will continue to view the U.S. market as a strategically important market after the Share Transfer and, through this transaction, aims to optimize management resources with a strategic focus on corporate transactions where the MUFG group believes it can leverage its strengths.

(b) Overview of the accounting treatment to be applied

The transaction will be treated as a transaction under common control under Accounting Standard Board of Japan (“ASBJ”) Statement No. 21, “Accounting Standard for Business Combinations” (ASBJ, January 16, 2019) and ASBJ Guidance No. 10, “Implementation Guidance on Accounting Standard for Business Combinations and Accounting Standard for Business Divestitures” (ASBJ, January 16, 2019).

Selected Financial Information

under Japanese GAAP

For the Six Months Ended September 30, 2021


Mitsubishi UFJ Financial Group, Inc.

Mitsubishi UFJ Financial Group, Inc.

[Contents]


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

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

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

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

5. ROE	[ MUFG Consolidated ]	12

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

7. Risk-Monitored Loans	[ MUFG Consolidated ] [ BK Non-consolidated ][ TB Non-consolidated ] [ TB Non-consolidated : Trust Account ]	14

8. Non Performing Loans Based on the Financial Reconstruction Law (the “FRL”)	[ BK and TB Combined including Trust Account ] [ BK Non-consolidated ][ TB Non-consolidated ] [ TB Non-consolidated : Trust Account ]	18

9. Progress in Disposition of Problem Assets	[ BK Non-consolidated ] [ TB Non-consolidated including Trust Account ]	23

10. Loans Classified by Type of Industry, Domestic Consumer Loans, Domestic Loans to Small/Medium-Sized Companies and Proprietors	[ BK and TB Combined including Trust Accounts ] [ BK Non-consolidated ][ TB Non-consolidated ] [ TB Non-consolidated : Trust Accounts ]	25

11. Overseas Loans	[ BK Consolidated excl. MUAH, KS, BDI ]56*7	29

12. Loans and Deposits	[ BK and TB Combined ] [ BK Non-consolidated ][ TB Non-consolidated ]	30

13. Domestic Deposits	[ BK and TB Combined ] [ BK Non-consolidated ][ TB Non-consolidated ]	31

14. Status of Deferred Tax Assets	[ BK Non-consolidated ][ TB Non-consolidated ]	32

(Reference)

1. Financial Statements	[ BK Non-consolidated ][ TB Non-consolidated ]	34

(*1)	“MUFG” means Mitsubishi UFJ Financial Group, Inc.

(*2)	“BK” means MUFG Bank, Ltd.

(*3)	“TB” means Mitsubishi UFJ Trust and Banking Corporation.

(*4)	“BK and TB Combined” means simple sum of “BK” and “TB” without consolidation processes.

(*5)	“MUAH” means MUFG Americas Holdings Corporation.

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

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

Mitsubishi UFJ Financial Group, Inc.

1. Financial Results

MUFG Consolidated


	(in millions of yen)
	For the six months ended						Increase
	September 30, 2021 (A)			September 30, 2020 (B)			(Decrease) (A) - (B)
Gross profits		1,980,900			2,057,841			(76,940	)
Gross profits before credit costs for trust accounts		1,980,851			2,057,841			(76,989	)
Net interest income		992,441			966,516			25,924
Trust fees		71,607			71,386			220
Credit costs for trust accounts (1)		49			(0	)		49
Net fees and commissions		673,168			583,899			89,268
Net trading profits		117,746			195,183			(77,436	)
Net other operating profits		125,936			240,854			(114,918	)
Net gains (losses) on debt securities		70,598			201,910			(131,312	)
General and administrative expenses		1,343,287			1,317,385			25,901
Amortization of goodwill		8,896			8,209			687
Net operating profits before credit costs for trust accounts, provision for general allowance for credit losses and amortization of goodwill		646,460			748,664			(102,204	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		637,563			740,455			(102,891	)
Provision for general allowance for credit losses (2)		—			(78,662	)		78,662
Net operating profits*1		637,613			661,792			(24,179	)
Net non-recurring gains (losses)		348,393			(71,538	)		419,931
Credit costs (3)		(73,096	)		(210,658	)		137,561
Losses on loan write-offs		(68,856	)		(87,852	)		18,996
Provision for specific allowance for credit losses		—			(122,640	)		122,640
Other credit costs		(4,240	)		(166	)		(4,074	)
Reversal of allowance for credit losses (4)		43,749			—			43,749
Reversal of reserve for contingent losses included in credit costs (5)		5,444			—			5,444
Gains on loans written-off (6)		41,760			30,894			10,865
Net gains (losses) on equity securities		126,065			24,281			101,783
Gains on sales of equity securities		145,337			67,191			78,145
Losses on sales of equity securities		(14,072	)		(27,395	)		13,323
Losses on write-down of equity securities		(5,200	)		(15,514	)		10,314
Equity in earnings of equity method investees		218,377			153,190			65,186
Other non-recurring gains (losses)		(13,906	)		(69,246	)		55,340

Ordinary profits		986,006			590,254			395,751

Net extraordinary gains (losses)		69,934			(17,635	)		87,569
Net gains (losses) on disposition of fixed assets		12,840			9,188			3,652
Losses on impairment of fixed assets		(21,484	)		(17,489	)		(3,994	)
Net gains (losses) on change in equity		45,286			(16,580	)		61,867
Gains on sales of shares of affiliates		29,053			7,344			21,708
Gains on sales of shares of subsidiaries		4,240			—			4,240
Profits before income taxes		1,055,941			572,619			483,321
Income taxes-current		153,153			171,042			(17,888	)
Income taxes-deferred		72,592			(38,663	)		111,255
Total taxes		225,745			132,378			93,367
Profits		830,195			440,240			389,954
Profits attributable to non-controlling interests		48,761			39,413			9,347

Profits attributable to owners of parent		781,433			400,826			380,607


Note:
1. Net operating profits = Banking subsidiaries’ net operating profits + Other consolidated entities’ gross profits - Other consolidated entities’ general and administrative expenses - Other consolidated entities’ provision for general allowance for credit losses - Amortization of goodwill - Inter-company transactions 2. From the beginning of the six months ended September 30, 2021, expenses related to credit cards, which were previously recorded as general and administrative expenses, are recorded as fees and commissions expenses. Accordingly, the financial information for the six months ended September 30, 2020 have been retroactively restated.

(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		17,906			(258,426	)		276,332
Number of consolidated subsidiaries		250			254			(4	)
Number of affiliated companies accounted for under the equity method		53			50			3

Mitsubishi UFJ Financial Group, Inc.

BK and TB Combined


	(in millions of yen)
	For the six months ended						Increase
	September 30, 2021 (A)			September 30, 2020 (B)			(Decrease) (A) - (B)
Gross profits		997,467			1,049,580			(52,112	)
Gross profits before credit costs for trust accounts		997,418			1,049,580			(52,161	)
Domestic gross profits		563,635			449,349			114,285
Net interest income		298,905			276,853			22,051
Trust fees		58,216			57,740			475
Credit costs for trust accounts (1)		49			(0	)		49
Net fees and commissions		152,747			143,343			9,403
Net trading profits		3,430			2,929			501
Net other operating profits		50,335			(31,517	)		81,852
Net gains (losses) on debt securities		50,660			(27,999	)		78,660
Non-domestic gross profits		433,832			600,230			(166,398	)
Net interest income		286,254			214,369			71,885
Net fees and commissions		81,709			71,654			10,054
Net trading profits		26,649			59,866			(33,217	)
Net other operating profits		39,219			254,340			(215,120	)
Net gains (losses) on debt securities		13,270			214,265			(200,994	)
General and administrative expenses		640,996			664,640			(23,644	)
Personnel expenses		209,630			219,372			(9,742	)
Non-personnel expenses		400,898			404,760			(3,861	)
Taxes		30,467			40,507			(10,040	)
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		356,422			384,939			(28,517	)
Provision for general allowance for credit losses (2)		—			13,548			(13,548	)
Net operating profits		356,471			398,488			(42,016	)
Net non-recurring gains (losses)		201,000			(79,207	)		280,207
Credit costs (3)		(10,916	)		(68,301	)		57,384
Losses on loan write-offs		(9,442	)		(10,885	)		1,442
Provision for specific allowance for credit losses		(7,252	)		(57,703	)		50,450
Other credit costs		5,778			287			5,491
Reversal of allowance for credit losses (4)		71,113			38			71,074
Reversal of reserve for contingent losses included in credit costs (5)		6,090			2,625			3,464
Gains on loans written-off (6)		7,775			3,290			4,485
Net gains (losses) on equity securities		119,490			19,166			100,323
Gains on sales of equity securities		137,993			61,700			76,292
Losses on sales of equity securities		(14,411	)		(27,580	)		13,169
Losses on write-down of equity securities		(4,091	)		(14,953	)		10,861
Other non-recurring gains (losses)		7,447			(36,026	)		43,474

Ordinary profits		557,471			319,281			238,190

Net extraordinary gains (losses)		3,345			(2,582	)		5,928
Net gains (losses) on disposition of fixed assets		11,119			9,058			2,060
Losses on impairment of fixed assets		(8,064	)		(12,034	)		3,969
Gains on sales of shares of subsidiaries		—			2,372			(2,372	)
Losses on sales of shares of affiliates		—			(1,978	)		1,978
Income before income taxes		560,817			316,698			244,118
Income taxes-current		98,244			97,399			845
Income taxes-deferred		51,843			(15,705	)		67,549
Total taxes		150,088			81,694			68,394

Net income		410,728			235,004			175,724


(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		74,111			(48,798	)		122,909
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities		292,490			198,674			93,816
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities and investment trusts cancellation		265,834			205,942			59,891

Mitsubishi UFJ Financial Group, Inc.

BK Consolidated


	(in millions of yen)
	For the six months ended						Increase
	September 30, 2021 (A)			September 30, 2020 (B)			(Decrease) (A) - (B)
Gross profits		1,361,450			1,477,478			(116,027	)
Net interest income		845,033			811,596			33,436
Trust fees		5,847			6,289			(442	)
Net fees and commissions		341,612			308,772			32,839
Net trading profits		41,607			99,202			(57,594	)
Net other operating profits		127,349			251,617			(124,267	)
Net gains (losses) on debt securities		72,284			205,602			(133,317	)
General and administrative expenses		912,711			917,816			(5,105	)
Amortization of goodwill		3,180			3,112			67
Net operating profits before provision for general allowance for credit losses and amortization of goodwill		451,919			562,774			(110,855	)
Net operating profits before provision for general allowance for credit losses		448,739			559,662			(110,922	)
Provision for general allowance for credit losses (1)		—			(86,514	)		86,514
Net operating profits*		448,739			473,148			(24,408	)
Net non-recurring gains (losses)		154,006			(156,447	)		310,454
Credit costs (2)		(37,870	)		(158,401	)		120,530
Losses on loan write-offs		(33,630	)		(48,714	)		15,084
Provision for specific allowance for credit losses		—			(109,521	)		109,521
Other credit costs		(4,240	)		(165	)		(4,075	)
Reversal of allowance for credit losses (3)		51,939			—			51,939
Reversal of reserve for contingent losses included in credit costs (4)		5,379			—			5,379
Gains on loans written-off (5)		29,224			20,033			9,191
Net gains (losses) on equity securities		105,137			24,392			80,745
Gains on sales of equity securities		123,294			52,994			70,299
Losses on sales of equity securities		(13,968	)		(20,149	)		6,181
Losses on write-down of equity securities		(4,187	)		(8,451	)		4,264
Equity in earnings of equity method investees		13,580			9,646			3,933
Other non-recurring gains (losses)		(13,385	)		(52,119	)		38,734

Ordinary profits		602,746			316,700			286,046

Net extraordinary gains (losses)		35,214			(7,299	)		42,514
Net gains (losses) on disposition of fixed assets		11,120			9,179			1,941
Losses on impairment of fixed assets		(17,674	)		(16,478	)		(1,195	)
Gains on sales of shares of affiliates		29,053			—			29,053
Gains on change in equity		8,419			—			8,419
Gains on sales of shares of subsidiaries		4,295			—			4,295
Profits before income taxes		637,961			309,400			328,560
Income taxes-current		110,670			145,457			(34,787	)
Income taxes-deferred		55,651			(52,807	)		108,459
Total taxes		166,322			92,650			73,671
Profits		471,638			216,749			254,889
Profits attributable to non-controlling interests		21,119			7,308			13,810

Profits attributable to owners of parent		450,519			209,441			241,078


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

(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)		48,673			(224,882	)		273,555

Number of consolidated subsidiaries		115			123			(8	)
Number of affiliated companies accounted for under the equity method		44			41			3

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated


	(in millions of yen)
	For the six months ended						Increase
	September 30, 2021 (A)			September 30, 2020 (B)			(Decrease) (A) - (B)
Gross profits		792,232			888,620			(96,388	)
Domestic gross profits		434,984			334,796			100,187
Net interest income		273,230			258,016			15,214
Net fees and commissions		108,217			104,838			3,379
Net trading profits		535			2,218			(1,683	)
Net other operating profits		53,000			(30,276	)		83,277
Net gains (losses) on debt securities		49,799			(27,072	)		76,872
Non-domestic gross profits		357,247			553,823			(196,575	)
Net interest income		209,280			166,329			42,951
Net fees and commissions		80,650			70,242			10,407
Net trading profits		23,595			58,504			(34,908	)
Net other operating profits		43,721			258,747			(215,026	)
Net gains (losses) on debt securities		18,402			219,755			(201,352	)
General and administrative expenses		547,367			567,008			(19,641	)
Personnel expenses		178,521			186,818			(8,296	)
Non-personnel expenses		342,818			343,989			(1,171	)
Amortization of goodwill		776			763			12
Taxes		26,027			36,200			(10,172	)
Net operating profits before provision for general allowance for credit losses and amortization of goodwill		245,641			322,375			(76,734	)
Net operating profits before provision for general allowance for credit losses		244,864			321,611			(76,746	)
Provision for general allowance for credit losses (1)		—			13,548			(13,548	)
Net operating profits		244,864			335,160			(90,295	)
Net non-recurring gains (losses)		180,475			(71,347	)		251,823
Credit costs (2)		(10,827	)		(68,295	)		57,467
Reversal of allowance for credit losses (3)		70,952			—			70,952
Reversal of reserve for contingent losses included in credit costs (4)		6,090			2,479			3,611
Gains on loans written-off (5)		7,775			3,290			4,485
Net gains (losses) on equity securities		100,418			21,000			79,417
Gains on sales of equity securities		117,536			49,407			68,128
Losses on sales of equity securities		(13,925	)		(19,983	)		6,057
Losses on write-down of equity securities		(3,192	)		(8,423	)		5,231
Other non-recurring gains (losses)		6,066			(29,822	)		35,889

Ordinary profits		425,340			263,812			161,527

Net extraordinary gains (losses)		4,292			334			3,957
Net gains (losses) on disposition of fixed assets		10,974			9,264			1,709
Losses on impairment of fixed assets		(6,637	)		(11,300	)		4,662
Gains on sales of shares of subsidiaries		—			2,372			(2,372	)
Income before income taxes		429,632			264,147			165,485
Income taxes-current		74,651			88,424			(13,772	)
Income taxes-deferred		46,627			(18,005	)		64,632
Total taxes		121,278			70,418			50,859

Net income		308,353			193,728			114,625


(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)		73,990			(48,977	)		122,967
Provision for general allowance for credit losses		79,881			13,548			66,332
Provision for special allowance for credit losses		(7,252	)		(57,703	)		50,450
Allowance for credit to specific foreign borrowers		(1,676	)		29			(1,705	)
Losses on loans write-off		(9,442	)		(10,879	)		1,436
Provision for contingent losses included in credit costs		6,090			2,479			3,611
Gains on loans written-off		7,775			3,290			4,485
Losses on sales of other loans, etc.		(1,384	)		257			(1,642	)
Net operating profits before provision for general allowance for credit losses, excluding net gains (losses) on debt securities		176,662			128,929			47,733
Net operating profits before provision for general allowance for credit losses, excluding net gains (losses) on debt securities and investment trusts cancellation		150,825			130,664			20,161

Mitsubishi UFJ Financial Group, Inc.

TB Consolidated


	(in millions of yen)
	For the six months ended						Increase
	September 30, 2021 (A)			September 30, 2020 (B)			(Decrease) (A) - (B)
Gross profits		298,250			242,050			56,199
Gross profits before credit costs for trust accounts		298,201			242,050			56,150
Trust fees		65,938			65,310			628
Trust fees before credit costs for trust accounts		65,889			65,310			578
Money trusts fees (Jointly operated designated money trusts before credit costs for trust account)		8,739			13,190			(4,450	)
Other trust fees		57,149			52,119			5,029
Credit costs for trust accounts (1)		49			(0	)		49
Net interest income		69,201			54,448			14,753
Net fees and commissions		153,927			116,011			37,916
Net trading profits		8,332			5,711			2,620
Net other operating profits		850			569			281
Net gains (losses) on debt securities		(4,372	)		(6,416	)		2,044
General and administrative expenses		191,096			178,142			12,953
Amortization of goodwill		5,714			5,094			619
Net operating profits before credit costs for trust accounts, provision for general allowance for credit losses and amortization of goodwill		112,819			69,003			43,816
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		107,105			63,908			43,197
Provision for general allowance for credit losses (2)		—			—			—
Net operating profits*		107,154			63,908			43,246
Net non-recurring gains (losses)		20,845			(5,801	)		26,647
Credit costs (3)		(9	)		(20	)		10
Losses on loan write-offs		(9	)		(20	)		10
Provision for specific allowance for credit losses		—			—			—
Other credit costs		—			—			—
Reversal of allowance for credit losses (4)		187			102			84
Reversal of reserve for contingent losses included in credit costs (5)		68			1			67
Gains on loans written-off (6)		9			6			3
Net gains (losses) on equity securities		19,236			(1,820	)		21,056
Gains on sales of equity securities		20,466			12,293			8,173
Losses on sales of equity securities		(485	)		(7,597	)		7,112
Losses on write-down of equity securities		(744	)		(6,515	)		5,771
Equity in earnings of equity method investees		702			2,480			(1,777	)
Other non-recurring gains (losses)		650			(6,550	)		7,201

Ordinary profits		128,000			58,106			69,893

Net extraordinary gains (losses)		(1,006	)		6,887			(7,894	)
Net gains (losses) on disposition of fixed assets		420			276			143
Losses on impairment of fixed assets		(1,426	)		(733	)		(693	)
Gains on sales of shares of affiliates		—			7,344			(7,344	)
Profits before income taxes		126,994			64,994			61,999
Income taxes-current		33,853			15,165			18,687
Income taxes-deferred		3,557			238			3,318
Total taxes		37,410			15,404			22,005
Profits		89,583			49,590			39,993
Profits attributable to non-controlling interests		284			190			94

Profits attributable to owners of parent		89,299			49,399			39,899


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

(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		305			89			216

Number of consolidated subsidiaries		104			100			4
Number of affiliated companies accounted for under the equity method		5			5			—

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

Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		108,100			63,599			44,500
Profits attributable to owners of parent		89,978			49,118			40,860
Number of the entities transferred to IHC		4			4			—

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated


	(in millions of yen)
	For the six months ended						Increase
	September 30, 2021 (A)			September 30, 2020 (B)			(Decrease) (A) - (B)
Gross profits		205,235			160,960			44,275
Gross profits before credit costs for trust accounts		205,186			160,960			44,226
Domestic gross profits		128,651			114,553			14,097
Trust fees		58,216			57,740			475
Trust fees before credit costs for trust accounts		58,167			57,740			426
Money trusts fees (Jointly operated designated money trusts before credit costs for trust account)		8,739			13,190			(4,450	)
Other trust fees		49,427			44,550			4,876
Credit costs for trust accounts (1)		49			(0	)		49
Net interest income		25,674			18,837			6,836
Net fees and commissions		44,529			38,505			6,024
Net trading profits		2,895			710			2,185
Net other operating profits		(2,664	)		(1,240	)		(1,424	)
Net gains (losses) on debt securities		861			(927	)		1,788
Non-domestic gross profits		76,584			46,406			30,177
Net interest income		76,973			48,040			28,933
Net fees and commissions		1,059			1,412			(353	)
Net trading profits		3,053			1,362			1,691
Net other operating profits		(4,501	)		(4,407	)		(94	)
Net gains (losses) on debt securities		(5,132	)		(5,489	)		357
General and administrative expenses		93,629			97,632			(4,003	)
Personnel expenses		31,108			32,554			(1,445	)
Non-personnel expenses		58,080			60,770			(2,690	)
Taxes		4,439			4,307			132
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		111,557			63,327			48,229
Provision for general allowance for credit losses (2)		—			—			—
Net operating profits		111,606			63,327			48,278
Net non-recurring gains (losses)		20,524			(7,859	)		28,384
Credit costs (3)		(88	)		(6	)		(82	)
Reversal of allowance for credit losses (4)		160			38			122
Reversal of reserve for contingent losses included in credit costs (5)		—			146			(146	)
Gains on loans written-off (6)		0			—			0
Net gains (losses) on equity securities		19,072			(1,834	)		20,906
Gains on sales of equity securities		20,456			12,293			8,163
Losses on sales of equity securities		(485	)		(7,597	)		7,112
Losses on write-down of equity securities		(899	)		(6,529	)		5,630
Other non-recurring gains (losses)		1,381			(6,203	)		7,584

Ordinary profits		132,131			55,468			76,663

Net extraordinary gains (losses)		(946	)		(2,917	)		1,970
Net gains (losses) on disposition of fixed assets		145			(205	)		350
Losses on impairment of fixed assets		(1,426	)		(733	)		(693	)
Losses on sales of shares of affiliates		—			(1,978	)		1,978
Income before income taxes		131,184			52,550			78,633
Income taxes-current		23,593			8,975			14,618
Income taxes-deferred		5,216			2,300			2,916
Total taxes		28,810			11,275			17,534

Net income		102,374			41,275			61,099


(Reference)
Total credit costs (1)+(2)+(3)+(4)+(5)+(6)		120			178			(57	)
Credit costs for trust accounts		49			(0	)		49
Provision for general allowance for credit losses		159			206			(47	)
Provision for special allowance for credit losses		1			(168	)		169
Allowance for credit to specific foreign borrowers		—			—			—
Losses on loans write-offs		—			(6	)		6
Provision for contingent losses included in credit costs		(88	)		146			(235	)
Gains on loans written-off		0			—			0
Losses on sales of other loans, etc.		—			—			—
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities		115,828			69,744			46,083
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses, excluding net gains (losses) on debt securities and investment trusts cancellation		115,009			75,278			39,730

Mitsubishi UFJ Financial Group, Inc.

2. Average Interest Rate Spread

BK Non-consolidated


	(percentage per annum)
(Domestic business segment)	For the six months ended September 30, 2021 (A)		Increase (Decrease) (A) - (B)			For the six months ended September 30, 2020 (B)
Total average interest rate on interest-earning assets (a)		0.40		0.00			0.40
Average interest rate on loans and bills discounted (b)		0.73		0.01			0.72
Average interest rate on securities		0.26		0.00			0.26
Total average interest rate on interest-bearing liabilities (c) <including general and administrative expenses>		0.34		(0.07	)		0.41
Average interest rate on deposits and NCD (d)		0.00		(0.00	)		0.00
Average interest rate on other liabilities		0.10		(0.04	)		0.14
Overall interest rate spread (a)-(c)		0.06		0.07			(0.01	)
Interest rate spread (b)-(d)		0.73		0.01			0.72

(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted (e)		0.75		0.00			0.74
Interest rate spread (e)-(d)		0.75		0.00			0.74

TB Non-consolidated
	(percentage per annum)
(Domestic business segment)	For the six months ended September 30, 2021 (A)		Increase (Decrease) (A) - (B)			For the six months ended September 30, 2020 (B)
Total average interest rate on interest-earning assets (a)		0.49		0.11			0.38
Average interest rate on loans and bills discounted (b)		0.36		0.04			0.32
Average interest rate on securities		1.43		(0.05	)		1.48
Total average interest rate on interest-bearing liabilities (c)		0.09		(0.03	)		0.13
Average interest rate on deposits and NCD (d)		0.02		(0.00	)		0.02
Overall interest rate spread (a)-(c)		0.39		0.14			0.25
Interest rate spread (b)-(d)		0.34		0.05			0.29

(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted (e)		0.68		0.05			0.63
Interest rate spread (e)-(d)		0.65		0.05			0.60

BK and TB Combined
	(percentage per annum)
(Domestic business segment)	For the six months ended September 30, 2021 (A)		Increase (Decrease) (A) - (B)			For the six months ended September 30, 2020 (B)
Average interest rate on loans and bills discounted (a)		0.72		0.02			0.70
Average interest rate on deposits and NCD (b)		0.00		(0.00	)		0.00
Interest rate spread (a)-(b)		0.72		0.02			0.69

(After excluding loans to the Japanese government and governmental organizations)
Average interest rate on loans and bills discounted (c)		0.75		0.00			0.74
Interest rate spread (c)-(b)		0.75		0.01			0.74

Mitsubishi UFJ Financial Group, Inc.

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

MUFG Consolidated

(in billions of yen)

As of September 30, 2021

within 1 year

1 year to 5 years

over 5 years

Total

Receive-fix/pay-floater

2,311.9

6,705.9

9,992.0

19,009.8

Receive-floater/pay-fix

599.7

4,701.5

2,328.4

7,629.7

Receive-floater/pay-floater

—

Receive-fix/pay-fix

—

Total

2,911.7

11,407.4

12,320.4

26,639.6

BK Consolidated

(in billions of yen)

As of September 30, 2021

within 1 year

1 year to 5 years

over 5 years

Total

Receive-fix/pay-floater

2,100.4

6,385.4

9,893.2

18,379.1

Receive-floater/pay-fix

320.2

3,576.2

389.2

4,285.7

Receive-floater/pay-floater

—

Receive-fix/pay-fix

—

Total

2,420.6

9,961.7

10,282.4

22,664.8

TB Consolidated

(in billions of yen)

As of September 30, 2021

within 1 year

1 year to 5 years

over 5 years

Total

Receive-fix/pay-floater

211.5

233.9

74.4

519.9

Receive-floater/pay-fix

275.9

1,097.5

1,891.7

3,265.2

Receive-floater/pay-floater

—

Receive-fix/pay-fix

—

Total

487.4

1,331.4

1,966.2

3,785.1

Mitsubishi UFJ Financial Group, Inc.

4. Securities

MUFG Consolidated

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

Fair Value Information on Securities


	(in millions of yen)
	As of September 30, 2021								As of March 31, 2021
	Amount on consolidated balance sheet		Unrealized gains (losses)		Gains		Losses		Amount on consolidated balance sheet		Unrealized gains (losses)			Gains		Losses
Debt securities being held to maturity		4,129,596		42,063		53,273		11,210		3,903,764		35,380			50,465		15,085
Domestic bonds		1,100,383		19,116		19,116		—		1,100,447		23,032			23,032		—
Government bonds		1,100,383		19,116		19,116		—		1,100,447		23,032			23,032		—
Municipal bonds		—		—		—		—		—		—			—		—
Short-term corporate bonds		—		—		—		—		—		—			—		—
Corporate bonds		—		—		—		—		—		—			—		—
Other		3,029,212		22,947		34,157		11,210		2,803,317		12,347			27,432		15,085
Foreign bonds		857,990		8,760		18,439		9,679		756,657		22,902			25,711		2,808
Other		2,171,222		14,186		15,718		1,531		2,046,659		(10,555	)		1,721		12,277

	(in millions of yen)
	As of September 30, 2021								As of March 31, 2021
	Amount on consolidated balance sheet		Unrealized gains (losses)		Gains		Losses		Amount on consolidated balance sheet		Unrealized gains (losses)			Gains		Losses
Available-for-sale securities		78,561,169		3,877,518		4,296,263		418,744		73,892,007		3,749,919			4,227,901		477,981
Domestic equity securities		5,367,595		3,545,526		3,587,279		41,752		5,216,386		3,350,537			3,390,250		39,712
Domestic bonds		42,034,627		118,016		139,082		21,066		40,552,270		122,506			167,887		45,381
Government bonds		33,284,118		78,532		95,047		16,514		32,344,709		86,944			123,397		36,452
Municipal bonds		4,016,071		13,608		15,213		1,605		3,731,515		12,310			15,124		2,814
Short-term corporate bonds		872,120		23		45		21		564,097		26			31		4
Corporate bonds		3,862,317		25,852		28,775		2,923		3,911,947		23,225			29,334		6,109
Other		31,158,946		213,974		569,900		355,925		28,123,350		276,874			669,762		392,888
Foreign equity securities		108,117		41,151		42,634		1,483		86,025		21,102			21,104		1
Foreign bonds		24,505,656		55,194		309,904		254,709		21,236,699		103,001			377,998		274,996
Other		6,545,171		117,628		217,361		99,732		6,800,625		152,770			270,659		117,889

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

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

Fair Value Information on Securities


	(in millions of yen)
	As of September 30, 2021									As of March 31, 2021
	Amount on balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on balance sheet		Unrealized gains (losses)			Gains		Losses
Debt securities being held to maturity		1,680,544		19,098			20,629		1,531		1,785,106		14,751			23,032		8,281
Stocks of subsidiaries and affiliates		625,594		378,826			382,393		3,567		625,594		527,522			527,966		443

	(in millions of yen)
	As of September 30, 2021									As of March 31, 2021
	Amount on balance sheet		Unrealized gains (losses)			Gains		Losses		Amount on balance sheet		Unrealized gains (losses)			Gains		Losses
Available-for-sale securities		59,336,271		2,846,810			3,152,522		305,712		57,463,835		2,711,253			3,055,469		344,216
Domestic equity securities		4,459,307		2,881,526			2,917,997		36,470		4,320,383		2,703,898			2,739,050		35,151
Domestic bonds		39,345,844		107,460			124,273		16,812		38,401,935		119,605			157,408		37,803
Other		15,531,119		(142,177	)		110,251		252,428		14,741,516		(112,250	)		159,010		271,261
Foreign equity securities		80,611		32,456			33,939		1,483		61,701		14,126			14,128		1
Foreign bonds		12,214,634		(167,092	)		15,759		182,851		11,001,832		(179,648	)		28,372		208,020
Other		3,235,873		(7,540	)		60,553		68,094		3,677,982		53,270			116,509		63,238
Redemption schedule of Available-for-sale securities with maturities and debt securities being held to maturity
	(in millions of yen)
	As of September 30, 2021									As of March 31, 2021
	within 1 year		1 year to 5 years			5 years to 10 years		over 10 years		within 1 year		1 year to 5 years			5 years to 10 years		over 10 years
Domestic bonds		23,907,271		7,827,617			5,330,432		3,380,907		22,940,204		6,720,882			6,606,103		3,235,193
Government bonds		23,400,856		4,859,217			2,535,303		2,110,516		22,571,678		3,986,589			3,629,529		1,928,989
Municipal bonds		152,441		1,630,369			2,137,535		—		69,592		1,381,708			2,254,941		—
Short-term corporate bonds		—		—			—		—		—		—			—		—
Corporate bonds		353,973		1,338,029			657,593		1,270,390		298,932		1,352,583			721,632		1,306,203
Other		1,997,313		5,310,689			2,663,791		5,080,342		2,293,657		5,147,155			2,187,294		4,439,400
Foreign bonds		1,592,197		4,023,362			2,026,531		4,572,542		1,766,311		3,859,156			1,647,742		3,728,622
Other		405,115		1,287,327			637,259		507,800		527,345		1,287,999			539,551		710,778
Total		25,904,584		13,138,306			7,994,223		8,461,249		25,233,861		11,868,037			8,793,397		7,674,593

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

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

Fair Value Information on Securities


	(in millions of yen)
	As of September 30, 2021								As of March 31, 2021
	Amount on balance sheet		Unrealized gains (losses)		Gains		Losses		Amount on balance sheet		Unrealized gains (losses)			Gains		Losses
Debt securities being held to maturity		1,496,070		13,741		13,741		—		1,259,698		(1,968	)		1,705		3,673
Stocks of subsidiaries and affiliates		64,619		1,953		1,953		—		67,814		2,389			2,760		371

	(in millions of yen)
	As of September 30, 2021								As of March 31, 2021
	Amount on balance sheet		Unrealized gains (losses)		Gains		Losses		Amount on balance sheet		Unrealized gains (losses)			Gains		Losses
Available-for-sale securities		13,011,733		886,796		970,750		83,953		11,016,988		853,279			974,526		121,247
Domestic equity securities		943,824		608,231		617,087		8,855		939,291		595,246			603,069		7,823
Domestic bonds		2,670,047		10,425		14,808		4,382		2,136,137		2,797			10,478		7,680
Other		9,397,861		268,139		338,853		70,714		7,941,559		255,235			360,979		105,743
Foreign equity securities		60		44		44		—		56		41			41		—
Foreign bonds		7,559,130		154,803		194,757		39,953		6,262,308		166,399			218,733		52,333
Other		1,838,671		113,290		144,051		30,760		1,679,194		88,794			142,204		53,409
Redemption schedule of Available-for-sale securities with maturities and debt securities being held to maturity
	(in millions of yen)
	As of September 30, 2021								As of March 31, 2021
	within 1 year		1 year to 5 years		5 years to 10 years		over 10 years		within 1 year		1 year to 5 years			5 years to 10 years		over 10 years
Domestic bonds		1,031,644		185,687		686,587		766,128		861,637		205,915			303,410		765,173
Government bonds		145,485		80,428		580,605		647,870		286,457		110,602			250,490		659,105
Municipal bonds		—		22,482		73,242		—		—		8,530			16,743		—
Short-term corporate bonds		872,120		—		—		—		564,097		—			—		—
Corporate bonds		14,038		82,777		32,739		118,257		11,082		86,782			36,176		106,068
Other		265,218		1,963,468		3,237,046		3,877,371		213,530		1,784,299			2,915,787		2,885,206
Foreign bonds		261,148		1,840,618		3,163,858		3,789,576		209,512		1,672,427			2,824,901		2,815,165
Other		4,070		122,850		73,188		87,795		4,018		111,871			90,886		70,040
Total		1,296,863		2,149,156		3,923,634		4,643,500		1,075,168		1,990,214			3,219,197		3,650,379

Mitsubishi UFJ Financial Group, Inc.

5. ROE

MUFG Consolidated

(%)

For the six months
ended
September 30, 2021
(A)

Increase
(Decrease)
(A) - (B)

For the six months
ended
September 30, 2020
(B)

ROE

10.91

5.08

5.83

Note:

ROE is computed as follows:

Profits attributable to owners of parent × 2

100

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

Mitsubishi UFJ Financial Group, Inc.

6. Risk-Adjusted Capital Ratio



MUFG Consolidated	(in billions of yen)
	As of September 30, 2021 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
(1) Total capital ratio (4)/(7)		17.14	%		0.82	%		16.31	%
(2) Tier 1 capital ratio (5)/(7)		14.96	%		0.99	%		13.96	%
(3) Common Equity Tier 1 capital ratio (6)/(7)		13.29	%		0.96	%		12.33	%
(4) Total capital		19,232.7			563.2			18,669.5
(5) Tier 1 capital		16,789.6			806.9			15,982.7
(6) Common Equity Tier 1 capital		14,917.0			803.3			14,113.7
(7) Risk weighted assets		112,191.7			(2,227.6	)		114,419.3
(8) Required Capital (7)×8%		8,975.3			(178.2	)		9,153.5

BK Consolidated	(in billions of yen)
	As of September 30, 2021 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
(1) Total capital ratio (4)/(7)		15.81	%		0.76	%		15.04	%
(2) Tier 1 capital ratio (5)/(7)		13.69	%		0.93	%		12.76	%
(3) Common Equity Tier 1 capital ratio (6)/(7)		12.05	%		0.88	%		11.17	%
(4) Total capital		14,915.9			285.4			14,630.4
(5) Tier 1 capital		12,920.8			509.4			12,411.3
(6) Common Equity Tier 1 capital		11,374.1			508.8			10,865.3
(7) Risk weighted assets		94,314.1			(2,925.2	)		97,239.3
(8) Required Capital (7)×8%		7,545.1			(234.0	)		7,779.1

TB Consolidated	(in billions of yen)
	As of September 30, 2021 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
(1) Total capital ratio (4)/(7)		23.25	%		0.78	%		22.47	%
(2) Tier 1 capital ratio (5)/(7)		21.06	%		1.04	%		20.02	%
(3) Common Equity Tier 1 capital ratio (6)/(7)		19.03	%		1.04	%		17.99	%
(4) Total capital		2,175.0			75.4			2,099.6
(5) Tier 1 capital		1,970.3			99.3			1,870.9
(6) Common Equity Tier 1 capital		1,780.4			99.3			1,681.1
(7) Risk weighted assets		9,352.0			8.0			9,344.0
(8) Required Capital (7)×8%		748.1			0.6			747.5

BK Non-consolidated	(in billions of yen)
	As of September 30, 2021 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
(1) Total capital ratio (4)/(7)		15.32	%		0.72	%		14.60	%
(2) Tier 1 capital ratio (5)/(7)		13.31	%		0.89	%		12.42	%
(3) Common Equity Tier 1 capital ratio (6)/(7)		11.47	%		0.80	%		10.66	%
(4) Total capital		12,341.7			(17.7	)		12,359.4
(5) Tier 1 capital		10,723.4			211.0			10,512.4
(6) Common Equity Tier 1 capital		9,236.3			211.0			9,025.2
(7) Risk weighted assets		80,521.8			(4,111.0	)		84,632.8
(8) Required Capital (7)×8%		6,441.7			(328.8	)		6,770.6

TB Non-consolidated	(in billions of yen)
	As of September 30, 2021 Preliminary (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
(1) Total capital ratio (4)/(7)		22.48	%		0.57	%		21.91	%
(2) Tier 1 capital ratio (5)/(7)		20.54	%		0.80	%		19.73	%
(3) Common Equity Tier 1 capital ratio (6)/(7)		18.73	%		0.81	%		17.92	%
(4) Total capital		2,360.7			66.0			2,294.6
(5) Tier 1 capital		2,156.5			90.0			2,066.4
(6) Common Equity Tier 1 capital		1,967.0			90.0			1,876.9
(7) Risk weighted assets		10,497.1			27.5			10,469.5
(8) Required Capital (7)×8%		839.7			2.2			837.5

Note:

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

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

Mitsubishi UFJ Financial Group, Inc.

7. Risk-Monitored Loans

MUFG Consolidated

(1) Risk-Monitored Loans


	(in millions of yen)
	As of September 30, 2021 (A)		% to total loans and bills discounted			As of March 31, 2021 (B)		% to total loans and bills discounted			Increase (Decrease) (A) - (B)			% to total loans and bills discounted
Loans to bankrupt borrowers		47,396		0.04	%		47,013		0.04	%		383			0.00	%
Non-accrual delinquent loans		827,443		0.79	%		847,073		0.79	%		(19,629	)		0.00	%
Accruing loans contractually past due 3 months or more		16,298		0.01	%		26,090		0.02	%		(9,791	)		(0.00	)%
Restructured loans		413,725		0.39	%		420,857		0.39	%		(7,131	)		0.00	%
Total risk monitored loans		1,304,864		1.25	%		1,341,034		1.25	%		(36,169	)		0.00	%
Total loans and bills discounted		104,266,716					107,183,069					(2,916,352	)

Written-off		278,747					298,281					(19,533	)

(2) Allowance for Credit Losses
	(in millions of yen)
	As of September 30, 2021 (A)		% to total risk monitored loans			As of March 31, 2021 (B)		% to total risk monitored loans			Increase (Decrease) (A) - (B)			% to total risk monitored loans
Allowance for credit losses		990,732		75.92	%		1,105,541		82.43	%		(114,809	)		(6.51	)%
General allowance for credit losses		694,818					804,942					(110,123	)
Specific allowance for credit losses		293,687					300,049					(6,362	)
Allowance for credit to specific foreign borrowers		2,226					549					1,676

(3) Classification of Risk-Monitored Loans



Classified by Geographic Area	(in millions of yen)
	As of September 30, 2021 (A)		As of March 31, 2021 (B)		Increase (Decrease) (A) - (B)
Domestic		685,334		680,989		4,344
Overseas		619,529		660,044		(40,514	)
Asia		295,770		300,597		(4,827	)
Indonesia		38,657		50,483		(11,826	)
Singapore		44,802		44,116		686
Thailand		158,830		154,711		4,119
Hong Kong		—		832		(832	)
Other		53,480		50,454		3,025
Americas		204,700		224,726		(20,026	)
Europe, Middle East and Other		119,059		134,719		(15,659	)

Total		1,304,864		1,341,034		(36,169	)


Classified by Industry	(in millions of yen)
	As of September 30, 2021 (A)		As of March 31, 2021 (B)		Increase (Decrease) (A) - (B)
Domestic		685,334		680,989		4,344
Manufacturing		93,422		108,572		(15,150	)
Construction		7,351		7,866		(514	)
Wholesale and retail		96,995		103,881		(6,885	)
Finance and insurance		5,129		4,272		857
Real estate, goods rental and leasing		48,232		51,864		(3,631	)
Services		128,526		83,759		44,766
Other industries		17,731		18,331		(599	)
Consumer		287,944		302,441		(14,497	)
Overseas		619,529		660,044		(40,514	)
Financial institutions		10,584		10,643		(58	)
Commercial and industrial		481,356		528,408		(47,051	)
Other		127,588		120,992		6,595

Total		1,304,864		1,341,034		(36,169	)

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(1) Risk-Monitored Loans


	(in millions of yen)
	As of September 30, 2021 (A)		% to total loans and bills discounted			As of March 31, 2021 (B)		% to total loans and bills discounted			Increase (Decrease) (A) - (B)			% to total loans and bills discounted
Loans to bankrupt borrowers		40,353		0.04	%		38,631		0.04	%		1,721			0.00	%
Non-accrual delinquent loans		481,044		0.56	%		512,174		0.57	%		(31,130	)		(0.01	)%
Accruing loans contractually past due 3 months or more		7,578		0.00	%		14,246		0.01	%		(6,668	)		(0.00	)%
Restructured loans		273,881		0.32	%		279,632		0.31	%		(5,751	)		0.00	%
Total risk monitored loans		802,857		0.94	%		844,686		0.95	%		(41,828	)		(0.01	)%
Total loans and bills discounted		85,251,601					88,447,036					(3,195,435	)

Written-off		232,897					250,633					(17,736	)

(2) Allowance for Credit Losses

	(in millions of yen)
	As of September 30 2021 (A)		% to total risk monitored loans			As of March 31, 2021 (B)		% to total risk monitored loans			Increase (Decrease) (A) - (B)			% to total risk monitored loans
Allowance for credit losses		377,138		46.97	%		465,391		55.09	%		(88,253	)		(8.12	)%
General allowance for credit losses		243,622					323,221					(79,599	)
Specific allowance for credit losses		131,289					141,620					(10,330	)
Allowance for credit to specific foreign borrowers		2,226					549					1,676

(3) Classification of Risk-Monitored Loans



Classified by Geographic Area	(in millions of yen)
	As of September 30, 2021 (A)		As of March 31, 2021 (B)		Increase (Decrease) (A) - (B)
Domestic		501,406		506,289		(4,883	)
Overseas		301,451		338,396		(36,944	)
Asia		98,213		100,882		(2,668	)
Indonesia		20		5,556		(5,536	)
Singapore		44,802		44,116		686
Thailand		—		—		—
Hong Kong		—		832		(832	)
Other		53,390		50,376		3,014
Americas		103,421		124,494		(21,072	)
Europe, Middle East and Other		99,816		113,019		(13,203	)

Total		802,857		844,686		(41,828	)


Classified by Industry	(in millions of yen)
	As of September 30, 2021 (A)		As of March 31, 2021 (B)		Increase (Decrease) (A) - (B)
Domestic		501,406		506,289		(4,883	)
Manufacturing		93,411		108,561		(15,150	)
Construction		7,344		7,857		(513	)
Wholesale and retail		96,884		103,762		(6,878	)
Finance and insurance		5,126		4,269		857
Real estate		29,888		27,833		2,054
Goods rental and leasing		18,334		24,020		(5,685	)
Services		128,521		83,753		44,768
Other industries		17,724		18,324		(599	)
Consumer		104,170		127,907		(23,736	)
Overseas		301,451		338,396		(36,944	)
Financial institutions		—		2,488		(2,488	)
Commercial and industrial		301,265		335,732		(34,467	)
Other		186		175		10

Total		802,857		844,686		(41,828	)

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Risk-Monitored Loans


	(in millions of yen)
	As of September 30, 2021 (A)		% to total loans and bills discounted			As of March 31, 2021 (B)		% to total loans and bills discounted			Increase (Decrease) (A) - (B)			% to total loans and bills discounted
Loans to bankrupt borrowers		—		—			—		—			—			—
Non-accrual delinquent loans		1,840		0.06	%		2,021		0.06	%		(180	)		0.00	%
Accruing loans contractually past due 3 months or more		—		—			—		—			—			—
Restructured loans		—		—			—		—			—			—
Total risk monitored loans		1,840		0.06	%		2,021		0.06	%		(180	)		0.00	%
Total loans and bills discounted		2,821,118					3,289,807					(468,688	)

Written-off		53					53					(0	)

(2) Allowance for Credit Losses
	(in millions of yen)
	As of September 30, 2021 (A)		% to total risk monitored loans			As of March 31, 2021 (B)		% to total risk monitored loans			Increase (Decrease) (A) - (B)			% to total risk monitored loans
Allowance for credit losses		1,296		70.47	%		1,457		72.11	%		(160	)		(1.64	)%
General allowance for credit losses		600					759					(159	)
Specific allowance for credit losses		696					697					(1	)
Allowance for credit to specific foreign borrowers		—					—					—

(3) Classification of Risk-Monitored Loans


Classified by Geographic Area	(in millions of yen)
	As of September 30, 2021 (A)		As of March 31, 2021 (B)		Increase (Decrease) (A) - (B)
Domestic		1,840		2,021		(180	)
Overseas		—		—		—
Asia		—		—		—
Indonesia		—		—		—
Singapore		—		—		—
Thailand		—		—		—
Hong Kong		—		—		—
Other		—		—		—
Americas		—		—		—
Europe, Middle East and Other		—		—		—

Total		1,840		2,021		(180	)


Classified by Industry	(in millions of yen)
	As of September 30, 2021 (A)		As of March 31, 2021 (B)		Increase (Decrease) (A) - (B)
Domestic		1,840		2,021		(180	)
Manufacturing		—		—		—
Construction		—		—		—
Wholesale and retail		—		—		—
Finance and insurance		—		—		—
Real estate		10		10		(0	)
Goods rental and leasing		—		—		—
Services		—		—		—
Other industries		—		—		—
Consumer		1,830		2,010		(179	)
Overseas		—		—		—
Financial institutions		—		—		—
Commercial and industrial		—		—		—
Other		—		—		—

Total		1,840		2,021		(180	)

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated: Trust Account

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

(1) Risk-Monitored Loans


	(in millions of yen)
	As of September 30, 2021 (A)		% to total loans and bills discounted			As of March 31, 2021 (B)		% to total loans and bills discounted			Increase (Decrease) (A) - (B)			% to total loans and bills discounted
Loans to bankrupt borrowers		—		—			—		—			—			—
Non-accrual delinquent loans		—		—			—		—			—			—
Accruing loans contractually past due 3 months or more		1		0.03	%		2		0.03	%		(0	)		(0.00	)%
Restructured loans		—		—			—		—			—			—
Total risk monitored loans		1		0.03	%		2		0.03	%		(0	)		(0.00	)%
Total loans and bills discounted		5,277					6,051					(774	)

(2) Allowance for Credit Losses


	(in millions of yen)
	As of September 30, 2021 (A)		As of March 31, 2021 (B)		Increase (Decrease) (A) - (B)
Allowance for bad debts		15		18		(2	)

(3) Classification of Risk-Monitored Loans

Classified by Industry
	(in millions of yen)
	As of September 30, 2021 (A)		As of March 31, 2021 (B)		Increase (Decrease) (A) - (B)
Domestic		1		2		(0	)
Manufacturing		—		—		—
Construction		—		—		—
Wholesale and retail		—		—		—
Finance and insurance		—		—		—
Real estate		—		—		—
Goods rental and leasing		—		—		—
Services		—		—		—
Other industries		—		—		—
Consumer		1		2		(0	)

Total		1		2		(0	)

Mitsubishi UFJ Financial Group, Inc.

8. Non Performing Loans Based on the Financial Reconstruction Law (the “FRL”)

BK and TB Combined including Trust Account

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

(1) Non Performing Loans


							(in millions of yen)
							As of September 30, 2021 (A)			As of March 31, 2021 (B)			Increase (Decrease) (A) - (B)
Bankrupt or De facto Bankrupt								120,578			147,818			(27,239	)
Doubtful								422,214			416,668			5,545
Special Attention								281,460			293,879			(12,419	)
Non Performing Loans (1)								824,253			858,366			(34,113	)

Normal								96,149,019			99,534,250			(3,385,231	)
Total								96,973,272			100,392,617			(3,419,344	)

Non Performing Loans / Total								0.84	%		0.85	%		(0.00	)%

(2) Status of Coverage of Non Performing Loans
							(in millions of yen)
							As of September 30, 2021 (A)			As of March 31, 2021 (B)			Increase (Decrease) (A) - (B)
Covered amount (2)								630,191			682,952			(52,760	)
Allowance for credit losses								198,178			211,330			(13,152	)
Collateral, guarantees, etc.								432,013			471,622			(39,608	)

Coverage ratio (2) / (1)								76.45	%		79.56	%		(3.10	)%

(3) Coverage Ratio

	(in millions of yen)
Category	Loan amount (A)			Allowance for credit losses (B)			Covered by collateral and/ or guarantees (C)			Coverage ratio for unsecured portion (B) / [(A) - (C)]			Coverage ratio [(B) + (C)] / (A)
Bankrupt or De facto Bankrupt		120,578			14,588			105,989						100.00	%
		[147,818	]		[20,058	]		[127,759	]					[100.00	%]
Doubtful		422,214			116,437			227,713						81.51	%
		[416,668	]		[121,299	]		[212,592	]					[80.13	%]
Special Attention		281,460			67,152			98,310						58.78	%
		[293,879	]		[69,971	]		[131,270	]					[68.47	%]
Total		824,253			198,178			432,013						76.45	%
		[858,366	]		[211,330	]		[471,622	]					[79.56	%]
Note: The upper figures are as of September 30, 2021. The lower figures with brackets are as of March 31, 2021. (4) Classified by Industry
							(in millions of yen)
							As of September 30, 2021 (A)			As of March 31, 2021 (B)			Increase (Decrease) (A) - (B)
Domestic								508,527			514,667			(6,139	)
Manufacturing								94,487			110,710			(16,223	)
Construction								7,344			7,857			(513	)
Wholesale and retail								99,462			106,348			(6,885	)
Finance and insurance								5,392			4,518			873
Real estate								30,045			27,996			2,049
Goods rental and leasing								18,334			24,025			(5,690	)
Services								128,901			84,135			44,765
Other industries								18,539			19,126			(586	)
Consumer								106,018			129,947			(23,928	)
Overseas								315,725			343,699			(27,973	)
Financial institutions								—			2,820			(2,820	)
Commercial and industrial								315,494			340,659			(25,164	)
Other								231			219			11
Total								824,253			858,366			(34,113	)

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(1) Non Performing Loans


							(in millions of yen)
							As of September 30, 2021 (A)			As of March 31, 2021 (B)			Increase (Decrease) (A) - (B)
Bankrupt or De facto Bankrupt								120,504			147,768			(27,263	)
Doubtful								420,439			414,688			5,751
Special Attention								281,460			293,879			(12,419	)
Non Performing Loans (1)								822,404			856,336			(33,932	)

Normal								93,167,959			96,093,176			(2,925,216	)
Total								93,990,364			96,949,512			(2,959,148	)

Non Performing Loans / Total								0.87	%		0.88	%		(0.00	)%

(2) Status of Coverage of Non Performing Loans
							(in millions of yen)
							As of September 30, 2021 (A)			As of March 31, 2021 (B)			Increase (Decrease) (A) - (B)
Covered amount (2)								628,342			680,922			(52,579	)
Allowance for credit losses								198,178			211,330			(13,152	)
Collateral, guarantees, etc.								430,164			469,591			(39,427	)

Coverage ratio (2) / (1)								76.40	%		79.51	%		(3.11	)%

(3) Coverage Ratio

	(in millions of yen)
Category	Loan amount (A)			Allowance for credit losses (B)			Covered by collateral and/ or guarantees (C)			Coverage ratio for unsecured portion (B) / [(A) - (C)]			Coverage ratio [(B) + (C)] / (A)
Bankrupt or De facto Bankrupt		120,504			14,588			105,915			100.00	%		100.00	%
		[147,768	]		[20,058	]		[127,709	]		[100.00	%]		[100.00	%]
Doubtful		420,439			116,437			225,938			59.86	%		81.43	%
		[414,688	]		[121,299	]		[210,611	]		[59.43	%]		[80.03	%]
Special Attention		281,460			67,152			98,310			36.66	%		58.78	%
		[293,879	]		[69,971	]		[131,270	]		[43.03	%]		[68.47	%]
Total		822,404			198,178			430,164			50.52	%		76.40	%
		[856,336	]		[211,330	]		[469,591	]		[54.64	%]		[79.51	%]
Note: The upper figures are as of September 30, 2021. The lower figures with brackets are as of March 31, 2021. (4) Classified by Industry
							(in millions of yen)
							As of September 30, 2021 (A)			As of March 31, 2021 (B)			Increase (Decrease) (A) - (B)
Domestic								506,678			512,636			(5,958	)
Manufacturing								94,487			110,710			(16,223	)
Construction								7,344			7,857			(513	)
Wholesale and retail								99,462			106,348			(6,885	)
Finance and insurance								5,392			4,518			873
Real estate								30,035			27,985			2,049
Goods rental and leasing								18,334			24,025			(5,690	)
Services								128,901			84,135			44,765
Other industries								18,539			19,126			(586	)
Consumer								104,179			127,927			(23,748	)
Overseas								315,725			343,699			(27,973	)
Financial institutions								—			2,820			(2,820	)
Commercial and industrial								315,494			340,659			(25,164	)
Other								231			219			11
Total								822,404			856,336			(33,932	)

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Non Performing Loans


							(in millions of yen)
							As of September 30, 2021 (A)			As of March 31, 2021 (B)			Increase (Decrease) (A) - (B)
Bankrupt or De facto Bankrupt								74			50			24
Doubtful								1,772			1,978			(205	)
Special Attention								—			—			—
Non Performing Loans (1)								1,847			2,028			(181	)

Normal								2,975,783			3,435,024			(459,240	)
Total								2,977,630			3,437,052			(459,421	)

Non Performing Loans / Total								0.06	%		0.05	%		0.00	%

(2) Status of Coverage of Non Performing Loans

							(in millions of yen)
							As of September 30, 2021 (A)			As of March 31, 2021 (B)			Increase (Decrease) (A) - (B)
Covered amount (2)								1,847			2,028			(181	)
Allowance for credit losses								—			—			—
Collateral, guarantees, etc.								1,847			2,028			(181	)

Coverage ratio (2) / (1)								100.00	%		100.00	%		—

(3) Coverage Ratio

	(in millions of yen)
Category	Loan amount (A)			Allowance for credit losses (B)			Covered by collateral and/ or guarantees (C)			Coverage ratio for unsecured portion (B) / [(A) - (C)]			Coverage ratio [(B) + (C)] / (A)
Bankrupt or De facto Bankrupt		74			—			74			—			100.00	%
		[50	]		[—	]		[50	]		[—	]		[100.00	%]
Doubtful		1,772			—			1,772			—			100.00	%
		[1,978	]		[—	]		[1,978	]		[—	]		[100.00	%]
Special Attention		—			—			—			—			—
		[—	]		[—	]		[—	]		[—	]		[—	]
Total		1,847			—			1,847			—			100.00	%
		[2,028	]		[—	]		[2,028	]		[—	]		[100.00	%]
Note: The upper figures are as of September 30, 2021. The lower figures with brackets are as of March 31, 2021.

(4) Classified by Industry
							(in millions of yen)
							As of September 30, 2021 (A)			As of March 31, 2021 (B)			Increase (Decrease) (A) - (B)
Domestic								1,847			2,028			(181	)
Manufacturing								—			—			—
Construction								—			—			—
Wholesale and retail								—			—			—
Finance and insurance								—			—			—
Real estate								10			10			(0	)
Goods rental and leasing								—			—			—
Services								—			—			—
Other industries								—			—			—
Consumer								1,837			2,017			(180	)
Overseas								—			—			—
Financial institutions								—			—			—
Commercial and industrial								—			—			—
Other								—			—			—
Total								1,847			2,028			(181	)

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated: Trust Account

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

(1) Non Performing Loans


							(in millions of yen)
							As of September 30, 2021 (A)			As of March 31, 2021 (B)			Increase (Decrease) (A) - (B)
Bankrupt or De facto Bankrupt								—			—			—
Doubtful								1			2			(0	)
Special Attention								—			—			—
Non Performing Loans (1)								1			2			(0	)

Normal								5,275			6,049			(773	)
Total								5,277			6,051			(774	)

Non Performing Loans / Total								0.03	%		0.03	%		(0.00	)%

(2) Status of Coverage of Non Performing Loans
							(in millions of yen)
							As of September 30, 2021 (A)			As of March 31, 2021 (B)			Increase (Decrease) (A) - (B)
Covered amount (2)								1			2			(0	)
Allowance for credit losses								—			—			—
Collateral, guarantees, etc.								1			2			(0	)

Coverage ratio (2) / (1)								100.00	%		100.00	%		—

(3) Coverage Ratio

	(in millions of yen)
Category	Loan amount (A)			Allowance for credit losses (B)			Covered by collateral and/ or guarantees (C)			Coverage ratio for unsecured portion (B) / [(A) - (C)]			Coverage ratio [(B) + (C)] / (A)
Bankrupt or De facto Bankrupt		—			—			—						—
		[—	]		[—	]		[—	]					[—	]
Doubtful		1			—			1						100.00	%
		[ 2	]		[—	]		[ 2	]					[100.00	%]
Special Attention		—			—			—						—
		[—	]		[—	]		[—	]					[—	]
Total		1			—			1						100.00	%
		[ 2	]		[—	]		[ 2	]					[100.00	%]
Note: The upper figures are as of September 30, 2021. The lower figures with brackets are as of March 31, 2021. (4) Classified by Industry
							(in millions of yen)
							As of September 30, 2021 (A)			As of March 31, 2021 (B)			Increase (Decrease) (A) - (B)
Domestic								1			2			(0	)
Manufacturing								—			—			—
Construction								—			—			—
Wholesale and retail								—			—			—
Finance and insurance								—			—			—
Real estate								—			—			—
Goods rental and leasing								—			—			—
Services								—			—			—
Other industries								—			—			—
Consumer								1			2			(0	)
Total								1			2			(0	)

Mitsubishi UFJ Financial Group, Inc.

Overview of Non-Performing Loans

BK and TB Combined

(in billions of yen)

Self-Assessment

Coverage
ratio for
unsecured
portion

Non-Performing Loans
Based on the “FRL”

Risk-Monitored Loans

Category of
Borrowers

Classification

Non-
Classification

Classification
II

Classification
III

Classification
IV

Bankrupt
Borrowers

[105.9]

[13.9]

[0.6]

(*1)

100.00%

i) Bankrupt or De facto Bankrupt

[120.5]

Loans to bankrupt borrowers

[40.3]

Substantially
Bankrupt
Borrowers

Non-accrual

delinquent loans

[482.8]

Potentially
Bankrupt
Borrowers

[227.7]

[194.4]

59.86%

ii) Doubtful

[422.2]

Borrowers
Requiring
Caution
(Special
Attention
Borrowers)

[281.4]

36.66%

iii) Special Attention

[281.4]

Accruing loans contractually past due 3 months or more

[7.5]

Restructured loans

[273.8]

Borrowers
Requiring
Caution
(Other
Borrowers)

iv) Normal

[96,143.7]

Normal
Borrowers

Non-Performing Loans

Based on the “FRL”

Risk-Monitored Loans

i) + ii) + iii)

824.2

804.6

Total

i) + ii) + iii) + iv)

96,967.9

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

Mitsubishi UFJ Financial Group, Inc.

9. Progress in Disposition of Problem Assets

BK Non-consolidated

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


	(in millions of yen)
	As of March 31, 2019		As of March 31, 2020		As of March 31, 2021 (A)		As of September 30, 2021 (B)		(B) - (A)
Assets newly categorized during fiscal 2018		178,183		27,831		20,519		18,584		(1,935	)
Assets newly categorized during fiscal 2019				196,249		107,696		87,318		(20,377	)
Assets newly categorized during fiscal 2020						274,842		202,725		(72,117	)
Assets newly categorized during fiscal 2021								87,316

(2) Progress in Disposition of Problem Assets


	(in millions of yen)
	For the first half of the fiscal year ended September 30, 2021
			Bankrupt or De facto Bankrupt		Doubtful
Liquidation		2,234
Reconstructive treatment		24,922
Upgrade due to reconstructive treatment		6,321
Loan sold to secondary market		926
Write-offs		13,848
Others		60,576
Collection / Repayment		37,775
Upgrade		22,800

Total		108,829		29,401		79,427

Amount in process for disposition		108,041

Note:

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

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated including Trust Account

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

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


	(in millions of yen)
	As of March 31, 2019		As of March 31, 2020		As of March 31, 2021 (A)		As of September 30, 2021 (B)		(B) - (A)
Assets newly categorized during fiscal 2018		1,067		381		80		52		(27	)
Assets newly categorized during fiscal 2019				841		359		249		(109	)
Assets newly categorized during fiscal 2020						706		431		(275	)
Assets newly categorized during fiscal 2021								355

(2) Progress in Disposition of Problem Assets


	(in millions of yen)
	For the first half of the fiscal year ended September 30, 2021
			Bankrupt or De facto Bankrupt		Doubtful
Liquidation		—
Reconstructive treatment		—
Upgrade due to reconstructive treatment		—
Loan sold to secondary market		—
Write-offs		—
Others		536
Collection / Repayment		128
Upgrade		407

Total		536		7		529

Amount in process for disposition		131

Note:

Mitsubishi UFJ Financial Group, Inc.

10.

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

BK and TB Combined including Trust Accounts

(1) Loans Classified by Type of Industry


	(in millions of yen)
	As of September 30, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Domestic offices (excluding loans booked at offshore markets)		66,785,869			(2,490,567	)		69,276,436
Manufacturing		11,425,387			(586,191	)		12,011,578
Agriculture, forestry, fishery, mining, quarrying of stone and gravel		170,836			(1,471	)		172,307
Construction		674,962			(57,520	)		732,482
Utilities		2,123,010			15,616			2,107,394
Communication and information services		1,156,088			(39,716	)		1,195,804
Transport and postal activities		2,423,115			(41,796	)		2,464,911
Wholesale and retail		6,638,277			(37,005	)		6,675,282
Finance and insurance		7,717,713			(1,074,134	)		8,791,847
Real estate		9,027,648			88,484			8,939,164
Goods rental and leasing		2,151,485			(32,916	)		2,184,401
Services		2,994,479			(112,773	)		3,107,252
Municipal government		1,262,310			116,055			1,146,255
Other industries (including loans to the Japanese government)		19,020,554			(727,201	)		19,747,755
Overseas offices and loans booked at offshore markets		21,729,072			(1,144,769	)		22,873,842

Total		88,514,942			(3,635,336	)		92,150,278

(2) Domestic Consumer Loans
	(in millions of yen)
	As of September 30, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Total domestic consumer loans		15,440,317			(256,718	)		15,697,035
Housing loans		14,744,148			(239,467	)		14,983,615
Residential purpose		12,953,287			(202,453	)		13,155,741
Other		696,169			(17,250	)		713,419
(3) Domestic Loans to Small/Medium-Sized Companies and Proprietors
	(in millions of yen)
	As of September 30, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Outstanding amount		38,720,955			(957,199	)		39,678,154
% to total domestic loans		57.98	%		0.70	%		57.28	%

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(1) Loans Classified by Type of Industry


	(in millions of yen)
	As of September 30, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Domestic offices (excluding loans booked at offshore markets)		64,031,074			(2,004,198	)		66,035,273
Manufacturing		11,423,987			(586,191	)		12,010,178
Agriculture, forestry, fishery, mining, quarrying of stone and gravel		170,836			(1,471	)		172,307
Construction		674,962			(57,520	)		732,482
Utilities		2,078,010			15,616			2,062,394
Communication and information services		1,145,789			(40,048	)		1,185,837
Transport and postal activities		2,403,115			(41,796	)		2,444,911
Wholesale and retail		6,638,277			(37,005	)		6,675,282
Finance and insurance		7,262,245			(676,450	)		7,938,695
Real estate		9,025,666			88,983			8,936,683
Goods rental and leasing		2,151,485			(32,916	)		2,184,401
Services		2,926,694			(179,563	)		3,106,257
Municipal government		1,261,975			116,070			1,145,905
Other industries (including loans to the Japanese government)		16,868,033			(571,908	)		17,439,941
Overseas offices and loans booked at offshore markets		21,220,527			(1,191,236	)		22,411,763

Total		85,251,601			(3,195,435	)		88,447,036

(2) Domestic Consumer Loans
	(in millions of yen)
	As of September 30, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Total domestic consumer loans		14,593,458			(211,651	)		14,805,109
Housing loans		13,898,804			(194,635	)		14,093,440
Residential purpose		12,108,646			(157,725	)		12,266,372
Other		694,653			(17,016	)		711,669
(3) Domestic Loans to Small/Medium-Sized Companies and Proprietors
	(in millions of yen)
	As of September 30, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Outstanding amount		37,359,005			(832,991	)		38,191,996
% to total domestic loans		58.34	%		0.50	%		57.83	%

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Loans Classified by Type of Industry


	(in millions of yen)
	As of September 30, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Domestic offices (excluding loans booked at offshore markets)		2,312,572			(515,155	)		2,827,728
Manufacturing		—			—			—
Agriculture, forestry, fishery, mining, quarrying of stone and gravel		—			—			—
Construction		—			—			—
Utilities		—			—			—
Communication and information services		10,299			332			9,967
Transport and postal activities		—			—			—
Wholesale and retail		—			—			—
Finance and insurance		376,957			(416,284	)		793,241
Real estate		796			(96	)		892
Goods rental and leasing		—			—			—
Services		67,785			66,790			995
Municipal government		—			—			—
Other industries (including loans to the Japanese government)		1,856,733			(165,898	)		2,022,631
Overseas offices and loans booked at offshore markets		508,545			46,467			462,078

Total		2,821,118			(468,688	)		3,289,807

(2) Domestic Consumer Loans
	(in millions of yen)
	As of September 30, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Total domestic consumer loans		843,011			(44,706	)		887,718
Housing loans		841,497			(44,473	)		885,970
Residential purpose		840,920			(44,395	)		885,316
Other		1,514			(233	)		1,747
(3) Domestic Loans to Small/Medium-Sized Companies and Proprietors
	(in millions of yen)
	As of September 30, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Outstanding amount		1,094,394			(134,410	)		1,228,804
% to total domestic loans		47.32	%		3.86	%		43.45	%

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated: Trust Accounts

(1) Loans Classified by Type of Industry


	(in millions of yen)
	As of September 30, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Domestic offices (excluding loans booked at offshore markets)		442,222			28,787			413,435
Manufacturing		1,400			—			1,400
Agriculture, forestry, fishery, mining, quarrying of stone and gravel		—			—			—
Construction		—			—			—
Utilities		45,000			—			45,000
Communication and information services		—			—			—
Transport and postal activities		20,000			—			20,000
Wholesale and retail		—			—			—
Finance and insurance		78,511			18,600			59,911
Real estate		1,186			(403	)		1,589
Goods rental and leasing		—			—			—
Services		—			—			—
Municipal government		335			(15	)		350
Other industries (including loans to the Japanese government)		295,788			10,605			285,183
Overseas offices and loans booked at offshore markets		—			—			—

Total		442,222			28,787			413,435


(2) Domestic Consumer Loans
	(in millions of yen)
	As of September 30, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Total domestic consumer loans		3,847			(359	)		4,207
Housing loans		3,845			(358	)		4,204
Residential purpose		3,720			(332	)		4,052
Other		1			(1	)		2

(3) Domestic Loans to Small/Medium-Sized Companies and Proprietors
	(in millions of yen)
	As of September 30, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Outstanding amount		267,556			10,202			257,354
% to total domestic loans		60.50	%		(1.74	)%		62.24	%

Mitsubishi UFJ Financial Group, Inc.

11. Overseas Loans

BK Consolidated excl. MUAH, KS, BDI


	(in millions of yen)
	As of September 30, 2021 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Americas		7,069,425		(776,192	)		7,845,617
United States		5,462,951		(623,931	)		6,086,883
Canada		680,965		(57,844	)		738,809
Brazil		344,918		(50,778	)		395,697
Mexico		282,525		(34,809	)		317,334
Others		298,064		(8,829	)		306,893
Asia/Oceania		10,336,573		95,228			10,241,345
Hong Kong		2,143,525		44,515			2,099,009
China		1,623,525		134,322			1,489,203
Singapore		1,593,363		157,994			1,435,368
Australia		1,157,487		(103,135	)		1,260,623
India		687,542		6,975			680,567
Indonesia		677,943		(19,846	)		697,789
Taiwan		590,088		(35,895	)		625,984
Malaysia		581,418		(27,796	)		609,215
Korea		316,842		(44,750	)		361,592
New Zealand		281,233		(37,244	)		318,477
Viet Nam		261,768		8,354			253,414
Others		421,834		11,735			410,098
EMEA		6,836,149		(457,949	)		7,294,099
United Kingdom		1,921,382		(88,137	)		2,009,520
Netherlands		661,684		(97,504	)		759,189
Saudi Arabia		512,048		(14,297	)		526,345
Germany		484,766		(17,348	)		502,115
France		332,989		(38,451	)		371,440
Ireland		303,765		(1,586	)		305,351
Luxembourg		262,180		95,549			166,630
United Arab Emirates		223,513		(22,496	)		246,009
Switzerland		178,135		(56,947	)		235,082
Turkey		176,603		9,500			167,103
Qatar		166,790		(136,416	)		303,206
Belgium		159,619		(18,519	)		178,139
Russia		150,248		(3,400	)		153,648
Italy		148,105		(25,433	)		173,539
Spain		101,502		(1,885	)		103,387
Oman		89,431		(2,849	)		92,281
Poland		84,831		(19,723	)		104,554
Others		878,550		(18,002	)		896,553

Total		24,242,148		(1,138,914	)		25,381,062

Note:

MUAH (MUFG Americas Holdings Corporation), KS (Bank of Ayudhya Public Company Limited) and BDI (PT Bank Danamon Indonesia, Tbk.) have the following loan balances in the consolidated financial statements.


	(in millions of yen)
	As of September 30, 2021 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
MUAH		8,569,494		208,050			8,361,443
KS		4,664,620		(5,557	)		4,670,177
BDI		878,392		(6,784	)		885,176

Mitsubishi UFJ Financial Group, Inc.

12. Loans and Deposits

BK and TB Combined


	(in millions of yen)
	As of September 30, 2021 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Deposits (ending balance)		190,962,130		(2,151,015	)		193,113,145
Deposits (average balance)		194,402,016		8,572,960			185,829,055
Loans (ending balance)		88,072,720		(3,664,123	)		91,736,843
Loans (average balance)		90,153,837		(5,255,151	)		95,408,988

BK Non-consolidated
	(in millions of yen)
	As of September 30, 2021 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Deposits (ending balance)		180,396,258		(1,843,671	)		182,239,930
Deposits (average balance)		183,503,088		8,812,862			174,690,226
Loans (ending balance)		85,251,601		(3,195,435	)		88,447,036
Loans (average balance)		87,252,821		(4,444,397	)		91,697,219

TB Non-consolidated
	(in millions of yen)
	As of September 30, 2021 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Deposits (ending balance)		10,565,872		(307,343	)		10,873,215
Deposits (average balance)		10,898,927		(239,901	)		11,138,829
Loans (ending balance)		2,821,118		(468,688	)		3,289,807
Loans (average balance)		2,901,015		(810,753	)		3,711,769

Mitsubishi UFJ Financial Group, Inc.

13. Domestic Deposits

BK and TB Combined


	(in millions of yen)
	As of September 30, 2021 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Individuals		86,372,174		1,523,588			84,848,585
Corporations and others		78,652,223		(2,315,806	)		80,968,030
Domestic deposits		165,024,398		(792,217	)		165,816,616

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

BK Non-consolidated
	(in millions of yen)
	As of September 30, 2021 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Individuals		80,054,126		1,776,603			78,277,523
Corporations and others		75,590,550		(2,412,836	)		78,003,387
Domestic deposits		155,644,676		(636,233	)		156,280,910

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

TB Non-consolidated
	(in millions of yen)
	As of September 30, 2021 (A)		Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Individuals		6,318,048		(253,014	)		6,571,062
Corporations and others		3,061,673		97,030			2,964,643
Domestic deposits		9,379,722		(155,983	)		9,535,706

Note:

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

Mitsubishi UFJ Financial Group, Inc.

14. Status of Deferred Tax Assets

BK Non-consolidated

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


	(in billions of yen)
	As of September 30, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Deferred tax assets		467.2			(45.8	)		513.1
Allowance for credit losses		170.6			(28.9	)		199.5
Write-down on investment securities		376.1			(5.0	)		381.2
Unrealized losses on Available-for-sale securities		4.2			0.5			3.7
Reserve for retirement benefits		89.5			(2.7	)		92.3
Reserve for contingent losses		19.6			(0.4	)		20.0
Depreciation and Impairment losses		43.7			(0.7	)		44.5
Devaluation on land upon merger		23.9			(1.1	)		25.1
Other		153.1			(9.1	)		162.3
Valuation allowance		(413.9	)		1.8			(415.8	)
Deferred tax liabilities		1,007.6			39.2			968.4
Unrealized gains on Available-for-sale securities		781.4			36.5			744.8
Net deferred gains on hedging instruments		70.8			(2.8	)		73.6
Revaluation gains on securities upon merger		51.8			(0.7	)		52.5
Gains on securities contributed to employees’ retirement benefits trust		45.4			(0.0	)		45.4
Other		58.2			6.3			51.8
Net deferred tax assets		(540.4	)		(85.1	)		(455.2	)

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


	(in billions of yen)
	FY2016			FY2017			FY2018			FY2019			FY2020			Interim FY2021
Net operating profits before provision for general allowance for credit losses		666.9			554.3			388.4			395.2			388.0			244.8
Total credit costs		(25.4	)		56.0			128.5			11.8			(223.3	)		73.9
Income before income taxes		632.2			580.0			767.2			(535.9	)		205.5			429.6
Reconciliation to taxable income		(86.2	)		(156.0	)		(500.2	)		844.6			98.5			(202.3	)
Taxable income		546.0			424.0			267.0			308.7			304.1			227.3

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

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

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

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


	(in billions of yen)
	As of September 30, 2021 (A)			Increase (Decrease) (A) - (B)			As of March 31, 2021 (B)
Deferred tax assets		66.0			(0.9	)		67.0
Gains on securities related to employees’ retirement benefits trust		32.4			(0.4	)		32.8
Net deferred losses on hedging instruments		19.0			(0.3	)		19.4
Depreciation and Impairment losses		9.1			0.0			9.1
Write-down on investment securities		9.0			(0.2	)		9.2
Reserve for contingent losses		4.4			(0.1	)		4.5
Other		19.9			(0.2	)		20.1
Valuation allowance		(28.0	)		0.3			(28.3	)
Deferred tax liabilities		354.2			13.2			340.9
Unrealized gains on Available-for-sale securities		256.5			8.5			248.0
Reserve for retirement benefits		88.1			5.3			82.8
Other		9.4			(0.6	)		10.1
Net deferred tax assets		(288.1	)		(14.1	)		(273.9	)

(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)
	FY2016			FY2017			FY2018			FY2019			FY2020			Interim FY2021
Net operating profits before credit costs for trust accounts and provision for general allowance for credit losses		181.4			162.1			144.5			142.3			132.3			111.5
Total credit costs		(22.5	)		23.4			1.3			0.8			0.0			0.1
Income before income taxes		156.3			249.7			127.9			148.6			129.4			131.1
Reconciliation to taxable income		1.8			(69.5	)		(79.2	)		(39.3	)		(26.5	)		(53.7	)
Taxable income		158.1			180.2			48.7			109.3			102.9			77.3

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

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

Mitsubishi UFJ Financial Group, Inc.

(Reference)

1. Financial Statements

BK Non-consolidated

(1) Non-consolidated Balance Sheets


(in millions of yen)	As of March 31, 2021			As of September 30, 2021
Assets:
Cash and due from banks		84,701,063			85,306,960
Call loans		468,999			309,629
Receivables under resale agreements		308,462			192,896
Monetary claims bought		3,258,939			3,090,590
Trading assets		4,895,816			4,735,419
Money held in trust		37,765			36,851
Securities		61,787,561			63,800,078
Loans and bills discounted		88,447,036			85,251,601
Foreign exchanges		1,579,671			1,539,757
Other assets		6,799,416			5,197,150
Tangible fixed assets		775,742			764,796
Intangible fixed assets		465,275			458,884
Prepaid pension costs		391,426			429,748
Customers’ liabilities for acceptances and guarantees		6,523,464			6,832,412
Allowance for credit losses		(465,391	)		(377,138	)

Total assets		259,975,251			257,569,637

Mitsubishi UFJ Financial Group, Inc.


(in millions of yen)	As of March 31, 2021			As of September 30, 2021
Liabilities:
Deposits		182,239,930			180,396,258
Negotiable certificates of deposit		6,067,653			6,235,273
Call money		182,220			231,292
Payables under repurchase agreements		6,058,839			6,883,248
Commercial papers		880,919			674,821
Trading liabilities		2,700,766			2,070,142
Borrowed money		36,071,586			34,707,325
Foreign exchanges		2,772,317			2,603,010
Bonds payable		1,617,008			1,440,229
Other liabilities		4,302,420			4,579,508
Reserve for bonuses		29,303			21,279
Reserve for bonuses to directors		155			50
Reserve for stocks payment		4,788			3,394
Reserve for retirement benefits		6,440			6,617
Reserve for loyalty award credits		1,246			1,316
Reserve for contingent losses		65,586			64,018
Deferred tax liabilities		455,256			540,406
Deferred tax liabilities for land revaluation		97,744			93,475
Acceptances and guarantees		6,523,464			6,832,412

Total liabilities		250,077,648			247,384,081

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		2,782,616			3,012,093
Revenue reserve		190,044			190,044
Other retained earnings		2,592,572			2,822,048
Funds for retirement benefits		2,432			2,432
Other reserve		718,196			718,196
Earned surplus brought forward		1,871,943			2,101,419
Treasury stock		(645,700	)		(645,700	)

Total shareholders’ equity		7,727,150			7,956,626

Net unrealized gains (losses) on available-for-sale securities		1,812,832			1,887,251
Net deferred gains (losses) on hedging instruments		167,610			161,340
Land revaluation excess		190,008			180,336

Total valuation and translation adjustments		2,170,452			2,228,929

Total net assets		9,897,602			10,185,556

Total liabilities and net assets		259,975,251			257,569,637

Mitsubishi UFJ Financial Group, Inc.

BK Non-consolidated

(2) Non-consolidated Statements of Income


(in millions of yen)	For the six months ended September 30, 2020			For the six months ended September 30, 2021
Ordinary income		1,457,575			1,284,130
Interest income		684,339			636,808
Interest on loans and bills discounted		479,583			388,829
Interest and dividends on securities		150,244			172,778
Fees and commissions		253,508			266,290
Trading income		60,723			27,250
Other operating income		387,732			137,078
Other ordinary income		71,271			216,702
Ordinary expenses		1,193,762			858,790
Interest expenses		259,998			154,301
Interest on deposits		76,443			39,281
Fees and commissions		78,427			77,422
Trading expenses		—			3,119
Other operating expenses		159,261			40,356
General and administrative expenses		576,428			537,678
Other ordinary expenses		119,646			45,912

Ordinary profits		263,812			425,340

Extraordinary gains		14,979			13,967
Extraordinary losses		14,644			9,675

Income before income taxes		264,147			429,632

Income taxes - current		88,424			74,651
Income taxes - deferred		(18,005	)		46,627

Total taxes		70,418			121,278

Net income		193,728			308,353

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(1) Non-consolidated Balance Sheets


(in millions of yen)	As of March 31, 2021			As of September 30, 2021
Assets:
Cash and due from banks		12,637,769			11,570,205
Call loans		407,532			702,462
Receivables under resale agreements		14,182			22,425
Receivables under securities borrowing transactions		204,836			252,003
Monetary claims bought		48,438			64,536
Trading assets		59,308			59,012
Money held in trust		138,078			133,064
Securities		13,083,825			15,326,180
Loans and bills discounted		3,289,807			2,821,118
Foreign exchanges		119,636			132,260
Other assets		1,293,319			1,030,847
Tangible fixed assets		128,832			127,286
Intangible fixed assets		83,552			85,754
Prepaid pension costs		389,911			407,049
Customers’ liabilities for acceptances and guarantees		26,371			23,135
Allowance for credit losses		(1,457	)		(1,296	)

Total assets		31,923,946			32,756,046

Mitsubishi UFJ Financial Group, Inc.


(in millions of yen)	As of March 31, 2021			As of September 30, 2021
Liabilities:
Deposits		10,873,215			10,565,872
Negotiable certificates of deposit		1,894,446			2,411,976
Call money		6,738			611
Payables under repurchase agreements		4,978,918			6,026,631
Payables under securities lending transactions		—			100
Commercial papers		816,071			888,752
Trading liabilities		58,858			52,811
Borrowed money		2,031,265			2,223,724
Foreign exchanges		70,007			299,425
Bonds payable		216,910			150,000
Due to trust accounts		7,661,089			6,881,201
Other liabilities		757,038			580,236
Reserve for bonuses		4,813			4,741
Reserve for bonuses to directors		103			31
Reserve for stocks payment		3,284			2,493
Reserve for retirement benefits		328			60
Reserve for contingent losses		14,781			14,440
Deferred tax liabilities		273,957			288,155
Deferred tax liabilities for land revaluation		3,833			3,801
Acceptances and guarantees		26,371			23,135

Total liabilities		29,692,033			30,418,204

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		1,210,765			1,296,866
Revenue reserve		73,714			73,714
Other retained earnings		1,137,051			1,223,152
Funds for retirement benefits		710			710
Other reserve		138,495			138,495
Earned surplus brought forward		997,846			1,083,947
Treasury stock		(299,999	)		(299,999	)

Total shareholders’ equity		1,691,015			1,777,116

Net unrealized gains (losses) on available-for-sale securities		585,976			605,046
Net deferred gains (losses) on hedging instruments		(44,067	)		(43,271	)
Land revaluation excess		(1,010	)		(1,050	)

Total valuation and translation adjustments		540,897			560,724

Total net assets		2,231,913			2,337,841

Total liabilities and net assets		31,923,946			32,756,046

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(2) Non-consolidated Statements of Income


(in millions of yen)	For the six months ended September 30, 2020		For the six months ended September 30, 2021
Ordinary income		254,262		292,596
Trust fees		57,740		58,216
Interest income		106,399		120,123
Interest on loans and bills discounted		11,567		8,913
Interest and dividends on securities		84,335		106,287
Fees and commissions		58,465		69,434
Trading income		2,072		5,969
Other operating income		14,206		15,713
Other ordinary income		15,377		23,139
Ordinary expenses		198,794		160,465
Interest expenses		39,624		17,530
Interest on deposits		3,856		1,514
Fees and commissions		18,547		23,846
Trading expenses		—		20
Other operating expenses		19,854		22,879
General and administrative expenses		102,743		93,529
Other ordinary expenses		18,024		2,658

Ordinary profits		55,468		132,131

Extraordinary gains		416		976
Extraordinary losses		3,333		1,923

Income before income taxes		52,550		131,184

Income taxes - current		8,975		23,593
Income taxes - deferred		2,300		5,216

Total taxes		11,275		28,810

Net income		41,275		102,374

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(3) Statements of Trust Assets and Liabilities

Including trust assets under service-shared co-trusteeship


(in millions of yen)	As of March 31, 2021		As of September 30, 2021
Assets:
Loans and bills discounted		413,435		442,222
Securities		59,314,971		59,983,578
Beneficiary rights to the trust		93,565,184		103,924,366
Securities held in custody accounts		3,636,243		3,764,607
Monetary claims		32,652,514		39,737,239
Tangible fixed assets		17,354,800		17,941,841
Intangible fixed assets		135,444		146,224
Other claims		3,154,313		1,899,288
Call loans		1,244,794		941,601
Due from banking account		10,043,198		9,222,815
Cash and due from banks		5,567,619		5,104,895

Total		227,082,519		243,108,681

Liabilities:
Money trusts		28,470,351		26,024,289
Pension trusts		12,004,133		11,996,095
Property formation benefit trusts		6,736		6,526
Investment trusts		98,512,832		107,997,286
Money entrusted other than money trusts		5,006,270		5,621,061
Securities trusts		5,949,600		6,055,908
Monetary claim trusts		30,677,531		36,086,557
Equipment trusts		156,727		144,681
Land and fixtures trusts		18,856		18,310
Composite trusts		46,279,479		49,157,963

Total		227,082,519		243,108,681



Note:	1.	The table shown above includes master trust assets under the service-shared co-trusteeship between TB and The Master Trust Bank of Japan, Ltd.
	2.	Trust assets and liabilities under a declaration of trust excluded from above table are 502,487 millions of yen as of March 31, 2021 and 473,825 millions of yen as of September 30, 2021.

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

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



(in millions of yen)	As of March 31, 2021		As of September 30, 2021
Assets:
Loans and bills discounted		6,051		5,277
Securities		—		—
Other		7,821,717		7,039,751

Total		7,827,769		7,045,029

Liabilities:
Principal		7,827,463		7,044,826
Allowance for bad debts		18		15
Other		287		187

Total		7,827,769		7,045,029

Mitsubishi UFJ Financial Group, Inc.

TB Non-consolidated

(4) Major Items


(in millions of yen)	As of March 31, 2021		As of September 30, 2021
Total funds		53,248,882		51,004,760

Deposits		10,873,215		10,565,872
Negotiable certificates of deposit		1,894,446		2,411,976
Money trusts		28,470,351		26,024,289
Pension trusts		12,004,133		11,996,095
Property formation benefit trusts		6,736		6,526

Loans and bills discounted		3,703,242		3,263,341

Banking account		3,289,807		2,821,118
Trust account		413,435		442,222

Investment securities		72,398,797		75,309,759