CLSA JAPAN FORUM 2016 February, 2016 Mitsubishi UFJ Financial Group, Inc.
This document contains forward-looking statements in regard to forecasts, targets and plans of Mitsubishi UFJ Financial Group, Inc. (“MUFG”) and its group companies (collectively, “the group”). These forward-looking statements are based on information currently available to the group and are stated here on the basis of the outlook at the time that this document was produced. In addition, in producing these statements certain assumptions (premises) have been utilized. These statements and assumptions (premises) are subjective and may prove to be incorrect and may not be realized in the future. Underlying such circumstances are a large number of risks and uncertainties. Please see other disclosure and public filings made or will be made by MUFG and the other companies comprising the group, including the latest kessantanshin, financial reports, Japanese securities reports and annual reports, for additional information regarding such risks and uncertainties. The group has no obligation or intent to update any forward-looking statements contained in this document. In addition, information on companies and other entities outside the group that is recorded in this document has been obtained from publicly available information and other sources. The accuracy and appropriateness of that information has not been verified by the group and cannot be guaranteed. The financial information used in “Outline of Financial Results” was prepared in accordance with accounting standards generally accepted in Japan, or Japanese GAAP, unless otherwise stated. Definitions of figures used in this document Consolidated : Mitsubishi UFJ Financial Group (consolidated) Non-consolidated : Bank of Tokyo-Mitsubishi UFJ (non-consolidated) + Mitsubishi UFJ Trust and Banking Corporation (non-consolidated) (without any adjustments) Commercial bank : Bank of Tokyo-Mitsubishi UFJ (consolidated) consolidated 2
Management index (Consolidated) ROE Dividend per share/Dividend payout ratio *1 Dividend 9.16% 9.05% 10% 8.77% 8.74% 40.6% 25.2% *4 22.0% 23.4% 24.6% 26.4% 30.0% payout *2 7.75% ratio 6.89% (¥) *1 8.1% Year-end divivend 8.0% *2 7.4% 7.4% 7.4% 4.92% Interim dividend 6.6% 5% 15 9 9 4.9% (forecast) 9 10 7 6 6 6 JPX basis MUFG basis 0% FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 5 9 9 Q1-3 7 6 6 6 6 (3.97)% 0 (4.0)% FY09 FY10 FY11 FY12 FY13 FY14 FY15 (5%) EPS BPS (¥) (¥) 1,200 1,092.75 1,086.79 80 68.29 73.22 65.50 1,000 61.23 893.77 58.99 60 *3 800.95 47.54 800 612.05 604.58 678.24 39.94 40 29.56 528.66 600 20 400 0 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY14 FY15 200 (20) Q1-3 Q1-3 0 (25.04) (40) End Mar End Mar End Mar End Mar End Mar End Mar End Mar End Sep 09 10 11 12 13 14 15 15 *1 Profits attributable to owners of parent (annualized) - Equivalent of annual dividends on nonconvertible preferred stocks × 100 { （ Total shareholders' equity at the beginning of the period - Number of nonconvertible preferred stocks at the beginning of the period × Issue price + Foreign currency translation adjustments at the beginning of the period ） + （ Total shareholders' equity at the end of the period - Number of nonconvertible preferred stocks at the end of the period × Issue price + Foreign currency translation adjustments at the end of the period ） } ÷ 2 *2 11.10%(MUFG basis), 10.6%(JPX basis) before excluding negative goodwill associated with application of equity method accounting on our investment in Morgan Stanley *3 ¥68.09 before excluding negative goodwill associated with application of equity method accounting on our investment in Morgan Stanley 3 *4 17.6% before excluding negative goodwill associated with application of equity method accounting on our investment in Morgan Stanley
Financial targets of the current mid-term business plan • Aim to achieve stable and sustainable income growth through seeking diversified revenue bases especially in customer segment both domestically and overseas, and capital efficiency by improving productivity • Enhance shareholder value by conducting capital management flexibly taking the balance of (1) enhancement of further shareholder returns, (2) maintenance of a solid capital base and (3) strategic investments for sustainable growth, into consideration FY14 FY17 Target FY15Q1-3 Increase 15% or Growth EPS(¥) ¥73.22 ¥61.23 more from FY14 Between ROE 8.74% 9.16% 8.5-9.0% Profitability Expense ratio 61.1% Approx. 60% 62.2% Financial CET1 ratio 12.2% 9.5% or above 12.0% (Full implementation) *1 strength (Excluding an impact of net unrealized gains (losses) on available-for-sale securities) 9.9% *1 Calculated on the basis of regulations to be applied at end Mar 19 4
Contents • Introduction of ”Quantitative and qualitative monetary Growth strategy 26 easing with negative interest rate policy” 6 • Support wealth accumulation and stimulation of Outline of FY2015 Q1-3 results 7 consumption for individuals 27 • Key points 8 • Contribute to growth of SMEs 32 • Income statement summary 9 • Reform global CIB business model 34 • Expenses 10 • Evolve sales and trading operations 36 • Balance sheets summary 11 • Develop global asset management and • Loans/Deposits 12 investor services operations 37 • Domestic deposit/lending rates 13 • Further reinforce transaction banking operations 40 • Domestic and overseas lending 14 • Strengthen commercial banking platforms in Asia and the United States 41 • Loan assets 15 Total credit costs, Risk-monitored loans Asian lending(1)(2), Corporate governance, Capital policy Credit exposure to energy sector and Russia and Equity holdings 49 • Investment securities 20 • Capital 21 • Enhancement of corporate governance 50 • Financial results of MUSHD 22 • Capital policy 51 • Financial results of MUN/ACOM 23 • Dividend forecast 52 • Financial results of Morgan Stanley and • Repurchase of own shares 53 major collaborations 24 • Efficient use of capital 54 • FY2015 financial target 25 • Capital management 55 • Reduction of equity holdings 56 Appendix 57 5
Introduction of ”Quantitative and qualitative monetary easing with negative interest rate policy” by Bank of Japan (Estimation by Bank of Japan) Total balance at current A/C of whole financial institution (1)Approx. ¥260 tn To be calculated as a Approx. ¥10 tn certain ratio of basic ＝ (1)-(2)-(3) balance at appropriate timing (3)Approx. ¥40 tn (2)Approx. ¥210 tn ＝ Avg bal of current a/c in Year 2015: ¥220 tn- Required reserves: ¥9 tn (Source) Bank of Japan 6
7 Outline of FY2015 Q1-3 results
Key points of FY2015Q1-3 (Consolidated) Profit attributable to owners of parent was ¥852.2 bn Breakdown of FY15Q1-3 profits (decreased ¥74.6 bn from FY14Q1-3) attributable to owners of parent *1 • Progress rate towards ¥950.0 bn full-year target: 89% (¥bn) 1,000 • All the major subsidiaries and equity method investees contributed to cumulative profits for the nine months MS MUFG • ¥59.1 bn total credit costs was posted for Q1-3 900 118.0 Consolidated • Full-year target was unchanged at ¥950.0 bn 852.2 Others *4 Progress of mid-term business plan (22.9) ACOM 800 MUN 14.2 MUSHD 5.1 • [Retail] Good performance in consumer finance. 34.5 KS *3 Development in the Group-wide business platform has been 35.3 MUAH *2 700 successful, mainly in investment product distribution system 55.5 MUTB • [U.S.] New corporate management system has been started 96.6 with a new externally-recruited CEO. Focusing on further 600 BTMU diversification of profit source, a robust governance and 515.7 productivity improvements 500 • [Transaction banking] Developed business structure in a strategic and unified manner by enhancing product capabilities and effective use of networks. Non-Yen customer 400 deposits steadily increasing • [Investor Services/Asset Management] Acquired UBS’s 300 alternative fund admin business and agreed recently to acquire Capital Analytics in U.S. Keep focusing on expanding *1 The above figures take into consideration the percentage holding in each subsidiary our business scale in the global IS market and equity method investee (after-tax basis) *2 MUFG Americas Holdings Corporation Shareholder return *3 Bank of Ayudhya (Krungsri) *4 Including cancellation of the amount of inter-group dividend receipt and profits (losses) • Decided repurchase of own shares up to ¥100.0 bn in related to transfer of equity securities within MUFG November, and completed in December 8
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