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 July 2018

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):

 

 

 

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THIS REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE IN THE REGISTRATION STATEMENT ON FORM F-3 (NO. 333-209455) 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FROM THE DATE ON WHICH THIS REPORT IS FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED WITH OR FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION.

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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: July 13, 2018

 

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Consolidated Summary Report

<under US GAAP>

For the Fiscal Year Ended March 31, 2018

 

Date:		July 13, 2018
Company name (code number):		Mitsubishi UFJ Financial Group, Inc. (8306)
		(URL http://www.mufg.jp/)
Stock exchange listings:		Tokyo, Nagoya, New York
Representative:		Nobuyuki Hirano, President & Group CEO
For inquiry:		Kazutaka Yoneda, General Manager-Financial Planning Division / Financial Accounting Office
		(Phone) +81-3-3240-3110

Consolidated financial data for the fiscal year ended March 31, 2018

(1) Operating results

 

(in millions of yen, except per share data)
		For the fiscal years ended March 31,
		2018		2017
Total revenue		5,194,107		4,187,473
Income before income tax expense		1,661,819		272,543
Net income attributable to Mitsubishi UFJ Financial Group		1,228,160		202,680
Basic earnings per common share—Earnings applicable to common shareholders of Mitsubishi UFJ Financial Group (in yen)		92.40		14.93
Diluted earnings per common share—Earnings applicable to common shareholders of Mitsubishi UFJ Financial Group (in yen)		92.10		14.68

Notes:

1. Comprehensive income attributable to Mitsubishi UFJ Financial Group for the fiscal years ended March 31, 2018 and 2017 were ¥1,453,005 million and ¥178,971 million, respectively.

2. Average number of shares outstanding

 

		(in thousands of shares)
		For the fiscal years ended March 31,
		2018		2017
Common stock		13,291,842		13,574,314

(2) Financial condition

 

		(in millions of yen)
		As of March 31,
		2018		2017
Total assets		300,570,312		297,185,019
Total Mitsubishi UFJ Financial Group shareholders’ equity		14,970,182		13,985,532

(3) Cash flows

 

		(in millions of yen)
		For the fiscal years ended March 31,
		2018		2017
Net cash provided by (used in) operating activities		(563,836)		690,429
Net cash provided by investing activities		3,244,016		4,840,400
Net cash provided by financing activities		9,362,206		9,145,300
Cash and cash equivalents at end of period		75,873,456		64,019,219

Note:

As a result of adopting new guidance on restricted cash retrospectively, the consolidated statements of cash flows for the fiscal year ended March 31, 2017 was revised.

Please refer to the page 5 “Accounting Changes” for the details of the revision.

 

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This report is an excerpt of certain highlights from Mitsubishi UFJ Financial Group, Inc.’s consolidated financial information under U.S. GAAP that is included in the Company’s annual report on Form 20-F (the “Form 20-F”) to be filed with the U.S. Securities and Exchange Commission. This excerpt report does not contain all of the information that may be important to you. In addition to the items highlighted in this report, the Form 20-F includes material disclosure about the Company, including its business and other detailed U.S. GAAP financial information. You should read the entire Form 20-F carefully to obtain a comprehensive understanding of the Company’s business and U.S. GAAP financial data and related issues.

The Company’s financial information for reporting in Japan and for Japanese bank regulatory purposes is prepared in accordance with Japanese GAAP. U.S. GAAP differs in certain respects from Japanese GAAP and accounting principles generally accepted in other jurisdictions.

This report contains forward-looking statements regarding estimates, forecasts, targets and plans in relation to the results of operations, financial condition and other general management of the Company (the “forward-looking statements”). The forward-looking statements are made based upon, among other things, the Company’s current expectations, perceptions, evaluations and opinions. In addition, in order for the Company to adopt such estimates, forecasts, targets and plans regarding future events, certain assumptions have been made, which assumptions are inherently subjective and uncertain. The forward-looking statements should not be viewed as guarantees of future performance as actual results may be significantly different. For instance, the disclosures regarding provision for credit losses, valuation of financial assets and realizability of the deferred tax assets are based on assumptions and other estimates such as economic factors, the Company’s business plans and performance, and other factors. There exist a number of factors that may lead to uncertainties and risks, including, but not limited to, the deterioration of the Japanese and global economies, changes in borrower conditions, fluctuations in interest rates, foreign currency exchange rates, stock prices, commodities prices and real estate prices, legal proceedings, changes in the regulatory and competitive environment, failure to achieve or delay in the Company’s business strategy, malfunctions and deficiencies in our IT systems, natural disasters, cyber-attacks and other external events, and difficulties in hiring and retaining qualified employees. For the key factors that should be considered, please see the financial highlight, the Annual Securities Report, the Disclosure Book, the Annual Report, the Form 20-F and other current disclosures that the Company has publicly released.

 

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(US GAAP)

Mitsubishi UFJ Financial Group, Inc. and Subsidiaries

Consolidated Balance Sheets

 

		As of March 31,
(in millions of yen)		2018				2017
Assets:
Cash and due from banks			32,648,387				25,682,741
Interest-earning deposits in other banks			43,209,662				38,327,029
Call loans and funds sold			896,360				704,237
Receivables under resale agreements			5,725,921				8,188,146
Receivables under securities borrowing transactions			9,268,756				11,002,724
Trading account assets			35,186,689				41,320,049
Investment securities:
Available-for-sale securities—carried at fair value			39,504,698				39,090,099
Held-to-maturity securities—carried at amortized cost			3,582,941				3,587,321
Other investment securities			566,610				556,161
Total investment securities			43,654,249				43,233,581
Loans, net of unearned income, unamortized premiums and deferred loan fees			117,035,895				118,214,972
Allowance for credit losses			(764,124	)			(1,182,188	)
Net loans			116,271,771				117,032,784
Premises and equipment—net			1,013,588				994,271
Accrued interest			324,624				281,752
Customers’ acceptance liability			183,084				156,208
Intangible assets—net			1,011,119				1,020,359
Goodwill			441,334				450,143
Deferred tax assets			68,704				76,452
Other assets			10,666,064				8,714,543
Total assets			300,570,312				297,185,019
Liabilities:
Deposits:
Domestic offices:
Non-interest-bearing			24,406,759				23,098,886
Interest-bearing			125,195,310				121,741,545
Overseas offices:
Non-interest-bearing			5,455,677				6,387,219
Interest-bearing			40,616,847				39,173,973
Total deposits			195,674,593				190,401,623
Call money and funds purchased			2,452,543				1,974,977
Payables under repurchase agreements			18,134,594				17,693,415
Payables under securities lending transactions			8,170,218				5,549,004
Due to trust account			3,386,158				3,335,155
Other short-term borrowings			6,881,124				7,969,521
Trading account liabilities			12,222,331				18,790,133
Obligations to return securities received as collateral			3,176,962				3,516,232
Bank acceptances outstanding			183,084				156,208
Accrued interest			165,921				147,351
Long-term debt			27,069,556				26,131,527
Other liabilities			7,407,413				6,755,165
Total liabilities			284,924,497				282,420,311
Equity:
Mitsubishi UFJ Financial Group shareholders’ equity:
Capital stock			2,090,270				2,090,270
Capital surplus			5,740,165				5,956,644
Retained earnings:
Appropriated for legal reserve			239,571				239,571
Unappropriated retained earnings			4,945,733				3,931,612
Accumulated other comprehensive income, net of taxes			2,477,315				2,281,423
Treasury stock, at cost			(522,872	)			(513,988	)
Total Mitsubishi UFJ Financial Group shareholders’ equity			14,970,182				13,985,532
Noncontrolling interests			675,633				779,176
Total equity			15,645,815				14,764,708
Total liabilities and equity			300,570,312				297,185,019

 

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(US GAAP)

Mitsubishi UFJ Financial Group, Inc. and Subsidiaries

Consolidated Statements of Income

 

		For the fiscal years ended March 31,
(in millions of yen)		2018				2017
Interest income:
Loans, including fees			2,271,219				2,023,649
Deposits in other banks			126,608				78,735
Investment securities:
Interest			198,715				235,638
Dividends			145,186				135,506
Trading account assets			432,595				455,860
Call loans and funds sold			10,808				11,023
Receivables under resale agreements and securities borrowing transactions			73,885				50,356
Total			3,259,016				2,990,767
Interest expense:
Deposits			514,868				347,430
Call money and funds purchased			5,248				1,791
Payables under repurchase agreements and securities lending transactions			165,512				100,796
Due to trust account			109				207
Other short-term borrowings and trading account liabilities			93,535				61,137
Long-term debt			249,483				258,278
Total			1,028,755				769,639
Net interest income			2,230,261				2,221,128
Provision for (reversal of) credit losses			(240,847	)			253,688
Net interest income after provision for (reversal of) credit losses			2,471,108				1,967,440
Non-interest income:
Fees and commissions income			1,462,792				1,414,893
Foreign exchange losses—net			(49,561	)			(134,885	)
Trading account losses—net			(73,114	)			(639,184	)
Investment securities gains—net			286,903				281,158
Equity in earnings of equity method investees—net			227,984				197,821
Gains on sales of loans			16,109				13,286
Other non-interest income			63,978				63,617
Total			1,935,091				1,196,706
Non-interest expense:
Salaries and employee benefits			1,099,493				1,096,797
Occupancy expenses—net			179,100				176,819
Fees and commission expenses			297,847				273,675
Outsourcing expenses, including data processing			276,236				258,345
Depreciation of premises and equipment			96,180				99,774
Amortization of intangible assets			234,376				227,942
Impairment of intangible assets			21,900				5,803
Insurance premiums, including deposit insurance			91,847				91,881
Communications			58,067				55,274
Taxes and public charges			90,210				94,047
Impairment of goodwill			—				6,638
Provision for (reversal of) off-balance sheet credit instruments			(96,054	)			106,556
Other non-interest expenses			395,178				398,052
Total			2,744,380				2,891,603
Income before income tax expense			1,661,819				272,543
Income tax expense			407,823				94,453
Net income before attribution of noncontrolling interests			1,253,996				178,090
Net income (loss) attributable to noncontrolling interests			25,836				(24,590	)
Earnings applicable to common shareholders of Mitsubishi UFJ Financial Group			1,228,160				202,680
(in yen)
Earnings per common share applicable to common shareholders of Mitsubishi UFJ Financial Group:
Basic earnings per common share—Earnings applicable to common shareholders of Mitsubishi UFJ Financial Group			92.40				14.93
Diluted earnings per common share—Earnings applicable to common shareholders of Mitsubishi UFJ Financial Group			92.10				14.68

 

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(US GAAP)

Mitsubishi UFJ Financial Group, Inc. and Subsidiaries

Consolidated Statements of Comprehensive Income

 

		For the fiscal years ended March 31,
(in millions of yen)		2018				2017
Net income before attribution of noncontrolling interests			1,253,996				178,090
Other comprehensive income (loss), net of tax:
Net unrealized gains on investment securities			230,308				12,961
Net debt valuation adjustments			(2,178	)			(8,552	)
Net unrealized losses on derivatives qualifying for cash flow hedges			(7,025	)			(13,245	)
Defined benefit plans			109,838				103,572
Foreign currency translation adjustments			(104,778	)			(143,210	)
Total			226,165				(48,474	)
Comprehensive income			1,480,161				129,616
Net income (loss) attributable to noncontrolling interests			25,836				(24,590	)
Other comprehensive income (loss) attributable to noncontrolling interests			1,320				(24,765	)
Comprehensive income attributable to Mitsubishi UFJ Financial Group			1,453,005				178,971
Loans
		As of March 31,
(in millions of yen)		2018				2017
Impaired loans			1,331,123				1,715,850
Other than impaired loans			115,704,772				116,499,122
Total			117,035,895				118,214,972
Allowance for credit losses
		As of March 31,
(in millions of yen)		2018				2017
Related to impaired loans			494,326				882,208
Related to other than impaired loans			269,798				299,980
Total			764,124				1,182,188

Reclassifications of Consolidated Financial Statements

Certain reclassifications have been made to the consolidated financial statement for the fiscal year ended March 31, 2017 to conform to the presentation for the fiscal year ended March 31, 2018, which include the reclassifications of long-term repurchase agreements from “Long-term debt” to “Payables under repurchase agreements” in the consolidated balance sheet, and the related interest expense from “Long-term debt” to “Payables under repurchase agreements and securities lending transactions” within interest expense in the consolidated statements of income.

Accounting Changes

The MUFG Group early adopted new guidance on restricted cash retrospectively. The adoption of the guidance resulted in reclassification of restricted cash balances into cash and cash equivalents on the consolidated statements of cash flows. In addition, the MUFG Group included cash and due from banks and interest-earning deposits in other banks in cash and cash equivalents in the consolidated statements of cash flows, resulting in interest-earning deposits in other banks no longer being reflected in investing activities. Upon adoption, the MUFG Group recorded an increase of ¥5,235 million in Net cash provided by operating activities, and a decrease of ¥2,407,935 million in Net cash provided by investing activities for the fiscal year ended March 31, 2017 retrospectively.

 

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