MUFG(US:MUFG)2025-08-04 10:08Consolidated Summary Report (Japanese GAAP) Consolidated Financial Data and Earnings Target MUFG's Q1 FY2025 financial data reflects slight profit and asset declines, alongside maintained earnings targets and increased dividend forecasts Results of Operations Q1 FY2025 saw Ordinary Income, Ordinary Profits, and Profits Attributable to Owners of Parent decline, with basic EPS stable Q1 FY2025 Results of Operations (vs. Q1 FY2024) (Millions of Yen) | Metric | Q1 FY2025 (ended Jun 30, 2025) | Q1 FY2024 (ended Jun 30, 2024) | Change (%) | | :--- | :--- | :--- | :--- | | Ordinary Income | ¥3,253,932 | ¥3,525,017 | (7.7)% | | Ordinary Profits | ¥708,535 | ¥733,359 | (3.4)% | | Profits Attributable to Owners of Parent | ¥546,068 | ¥555,894 | (1.8)% | | Comprehensive Income | ¥135,586 | ¥992,877 | (86.3)% | | Basic Earnings Per Share | ¥47.55 | ¥47.50 | +0.1% | | Diluted Earnings Per Share | ¥47.45 | ¥47.40 | +0.1% | Financial Conditions As of June 30, 2025, MUFG's total assets and net assets decreased, while the equity-to-asset ratio remained unchanged Financial Condition as of June 30, 2025 (Millions of Yen) | Metric | As of June 30, 2025 | As of March 31, 2025 | | :--- | :--- | :--- | | Total Assets | ¥401,041,048 | ¥413,113,501 | | Total Net Assets | ¥21,256,938 | ¥21,728,132 | | Equity-to-asset ratio | 5.0% | 5.0% | | Shareholders' equity | ¥20,018,546 | ¥20,520,374 | Dividends MUFG forecasts a total annual dividend of ¥70.00 per share for FY2026, up from ¥64.00 in the previous year Dividend per Share Forecast (Yen) | Fiscal Year | Interim (2nd Qtr-end) | Year-end | Total | | :--- | :--- | :--- | :--- | | Ended Mar 31, 2025 | ¥25.00 | ¥39.00 | ¥64.00 | | Ending Mar 31, 2026 (Forecast) | ¥35.00 | ¥35.00 | ¥70.00 | Earnings Target MUFG maintained its ¥2.0 trillion earnings target for profits attributable to owners of parent for FY2026 - MUFG's earnings target for FY2026 is ¥2.0 trillion of profits attributable to owners of parent13 - Due to various uncertainties in the financial services business, MUFG discloses an earnings target instead of a specific performance forecast13 Consolidated Financial Statements and Notes Consolidated financial statements show decreased assets and comprehensive income, mixed income statement results, and varied segment performance Consolidated Balance Sheets As of June 30, 2025, total assets decreased by ¥12 trillion to ¥401.0 trillion, with total liabilities also declining Key Balance Sheet Items (Millions of Yen) | Account | As of June 30, 2025 | As of March 31, 2025 | | :--- | :--- | :--- | | Assets | | | | Cash and due from banks | ¥105,201,744 | ¥109,095,437 | | Securities | ¥80,709,711 | ¥86,125,371 | | Loans and bills discounted | ¥122,671,835 | ¥121,436,133 | | Total Assets | ¥401,041,048 | ¥413,113,501 | | Liabilities | | | | Deposits | ¥224,705,991 | ¥228,512,749 | | Payables under repurchase agreements | ¥36,731,293 | ¥43,359,076 | | Total Liabilities | ¥379,784,109 | ¥391,385,368 | | Total Net Assets | ¥21,256,938 | ¥21,728,132 | Consolidated Statements of Income and Comprehensive Income Q1 FY2025 Ordinary Income fell to ¥3.3 trillion, profits stabilized by lower expenses, but Comprehensive Income plummeted to ¥135.6 billion due to FX Consolidated Income Statement Highlights (Millions of Yen) | Metric | Q1 FY2025 (ended Jun 30, 2025) | Q1 FY2024 (ended Jun 30, 2024) | | :--- | :--- | :--- | | Ordinary income | ¥3,253,932 | ¥3,525,017 | | Interest income | ¥2,022,572 | ¥2,353,006 | | Ordinary expenses | ¥2,545,396 | ¥2,791,657 | | Interest expenses | ¥1,331,819 | ¥1,529,894 | | General and administrative expenses | ¥796,719 | ¥844,873 | | Ordinary profits | ¥708,535 | ¥733,359 | | Profits attributable to owners of parent | ¥546,068 | ¥555,894 | - Comprehensive income fell sharply to ¥135.6 billion, primarily due to a ¥279.3 billion negative foreign currency translation adjustment, compared to a ¥471.7 billion positive adjustment in the prior-year period24 Changes in Accounting Estimates A new credit rating system was adopted for credit loss allowance calculation, with an immaterial impact on Q1 FY2025 financial statements - A new credit rating system was adopted to enhance credit risk management and calculate the allowance for credit losses27 - The impact of this change in accounting estimates on the financial statements for the three months ended June 30, 2025, is reported as immaterial27 Segment Information Q1 FY2025 total operating profit was ¥542.2 billion, down from ¥685.5 billion, with varied segment performance across business groups Operating Profit (Loss) by Segment (Millions of Yen) | Reporting Segment | Q1 FY2025 (ended Jun 30, 2025) | Q1 FY2024 (ended Jun 30, 2024) | | :--- | :--- | :--- | | Retail & Digital Business Group | ¥64,219 | ¥58,146 | | Commercial Banking & Wealth Management | ¥85,611 | ¥55,394 | | Japanese Corporate & Investment Banking | ¥147,149 | ¥162,687 | | Global Commercial Banking | ¥87,106 | ¥179,573 | | Global Corporate & Investment Banking | ¥36,901 | ¥33,039 | | Global Markets Business Group | ¥83,806 | ¥127,471 | | Total Operating Profit | ¥542,247 | ¥685,474 | - The method for calculating operating profit for each segment was changed in the first quarter of FY2025, and the prior year's data has been restated accordingly3132 Additional Information on Allowance for Credit Losses Allowance for credit losses calculation relies on significant estimates and forward-looking adjustments, totaling ¥39.2 billion as of June 30, 2025 - The calculation of allowance for credit losses relies on estimates of borrower ratings, collateral values, and future cash flows, which are subject to uncertainty4041 - Adjustments are made to historical loss rates to account for future projections, especially considering the uncertain business environment from geopolitical situations (Russia-Ukraine) and trade policies4447 - The impact from these forward-looking adjustments was ¥39.2 billion as of June 30, 2025, up from ¥33.6 billion as of March 31, 202544 Supplemental Information: Selected Financial Information Financial Results by Entity MUFG's consolidated gross profits decreased to ¥1,358.4 billion, with varied financial results across its main banking entities MUFG Consolidated MUFG's Q1 FY2025 consolidated gross profits decreased to ¥1,358.4 billion, with profits attributable to owners of parent declining to ¥546.1 billion MUFG Consolidated Financial Results (Millions of Yen) | Metric | Q1 FY2025 (ended Jun 30, 2025) | Q1 FY2024 (ended Jun 30, 2024) | | :--- | :--- | :--- | | Gross profits | ¥1,358,416 | ¥1,535,602 | | Net interest income | ¥690,788 | ¥823,128 | | General and administrative expenses | ¥815,428 | ¥857,451 | | Ordinary profits | ¥708,535 | ¥733,359 | | Profits attributable to owners of parent | ¥546,068 | ¥555,894 | BK and TB Combined BK and TB combined gross profits decreased to ¥767.8 billion, with net operating profits and net income also declining BK and TB Combined Financial Results (Millions of Yen) | Metric | Q1 FY2025 (ended Jun 30, 2025) | Q1 FY2024 (ended Jun 30, 2024) | | :--- | :--- | :--- | | Gross profits | ¥767,758 | ¥833,219 | | Net operating profits | ¥352,841 | ¥398,712 | | Net income | ¥351,694 | ¥361,233 | BK Non-consolidated BK non-consolidated gross profit decreased to ¥680.2 billion, but net income increased to ¥315.0 billion due to higher non-recurring gains BK Non-consolidated Financial Results (Millions of Yen) | Metric | Q1 FY2025 (ended Jun 30, 2025) | Q1 FY2024 (ended Jun 30, 2024) | | :--- | :--- | :--- | | Gross profits | ¥680,188 | ¥706,691 | | Net operating profits | ¥320,101 | ¥325,225 | | Net income | ¥314,972 | ¥282,697 | TB Non-consolidated TB non-consolidated gross profits fell to ¥87.6 billion, with net income decreasing to ¥36.7 billion due to lower interest and other operating profits TB Non-consolidated Financial Results (Millions of Yen) | Metric | Q1 FY2025 (ended Jun 30, 2025) | Q1 FY2024 (ended Jun 30, 2024) | | :--- | :--- | :--- | | Gross profits | ¥87,569 | ¥126,527 | | Net operating profits | ¥32,740 | ¥73,487 | | Net income | ¥36,721 | ¥78,536 | Asset Quality MUFG's consolidated NPLs under FRA totaled ¥1,458.3 billion as of June 30, 2025, with the NPL ratio improving to 1.05% Non-Performing Loans (NPL) under FRA (Millions of Yen) | Entity | Total NPLs (Jun 30, 2025) | NPL Ratio (Jun 30, 2025) | NPL Ratio (Mar 31, 2025) | | :--- | :--- | :--- | :--- | | MUFG Consolidated | ¥1,458,303 | 1.05% | 1.11% | | BK and TB Combined | ¥789,936 | 0.63% | 0.70% | | BK Non-consolidated | ¥788,762 | 0.65% | 0.72% | | TB Non-consolidated | ¥1,174 | 0.04% | 0.04% | Securities Portfolio MUFG's securities portfolio shows increased unrealized gains on available-for-sale securities and improved unrealized losses on held-to-maturity debt MUFG Consolidated Securities Portfolio (Millions of Yen) | Category | Balance Sheet Amount (Jun 30, 2025) | Unrealized Gains/(Losses) (Jun 30, 2025) | Unrealized Gains/(Losses) (Mar 31, 2025) | | :--- | :--- | :--- | :--- | | Debt securities held to maturity | ¥24,030,408 | (¥541,239) | (¥625,190) | | Available-for-sale securities | ¥55,146,618 | ¥2,322,186 | ¥2,203,663 | | - Domestic equity securities | ¥3,610,164 | ¥2,548,736 | ¥2,458,566 | | - Domestic bonds | ¥17,262,785 | (¥232,264) | (¥249,533) | | - Foreign bonds | ¥24,374,688 | (¥73,312) | (¥113,323) | Key Performance Indicators MUFG's Q1 FY2025 consolidated ROE slightly decreased to 10.78%, while the domestic interest rate spread for combined banking units widened Return on Equity (ROE) MUFG's Q1 FY2025 consolidated ROE (JPX basis) was 10.78%, a slight decrease from 11.18% in the prior year MUFG Consolidated ROE (JPX basis) (%) | Period | ROE (%) | | :--- | :--- | | Three months ended June 30, 2025 | 10.78 | | Three months ended June 30, 2024 | 11.18 | Average Interest Rate Spread The domestic interest rate spread for BK and TB combined increased to 0.89% in Q1 FY2025, driven by higher average loan rates BK and TB Combined Domestic Interest Rate Spread (%) | Metric | Q1 FY2025 (ended Jun 30, 2025) | Q1 FY2024 (ended Jun 30, 2024) | | :--- | :--- | :--- | | Avg. interest rate on loans | 1.06% | 0.82% | | Avg. interest rate on deposits | 0.17% | 0.01% | | Interest rate spread | 0.89% | 0.80% | Loans and Deposits Breakdown For BK and TB combined, loans increased to ¥111.5 trillion, while deposits decreased to ¥212.4 trillion as of June 30, 2025 BK and TB Combined Loans and Deposits (Millions of Yen) | Metric | As of June 30, 2025 | As of March 31, 2025 | | :--- | :--- | :--- | | Deposits (ending balance) | ¥212,429,174 | ¥215,970,679 | | Loans (ending balance) | ¥111,456,580 | ¥110,082,264 | Trust Assets and Liabilities (TB Non-consolidated) TB non-consolidated total trust assets increased slightly to ¥342.5 trillion, with beneficiary rights and investment trusts as key components TB Non-consolidated Trust Assets and Liabilities (Millions of Yen) | Account | As of June 30, 2025 | As of March 31, 2025 | | :--- | :--- | :--- | | Total Assets | ¥342,490,703 | ¥341,910,148 | | - Securities | ¥82,165,586 | ¥82,297,398 | | - Beneficiary rights to the trust | ¥171,636,024 | ¥171,790,489 | | Total Liabilities | ¥342,490,703 | ¥341,910,148 | | - Money trusts | ¥36,268,216 | ¥39,222,424 | | - Investment trusts | ¥170,332,783 | ¥170,479,519 |