Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]
November 14 2024 - 5:06AM
Edgar (US Regulatory)
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 2024
Commission File No. 000-54189
MITSUBISHI UFJ FINANCIAL GROUP, INC.
(Translation of registrants name into English)
4-5, Marunouchi 1-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 ☒ 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. 333-273681) OF MITSUBISHI UFJ FINANCIAL GROUP, INC. AND TO BE A PART THEREOF FROM THE DATE ON WHICH THIS REPORT
IS FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED WITH OR FURNISHED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
Date: November 14, 2024
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Mitsubishi UFJ Financial Group, Inc. |
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By: |
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/s/ Toshinao Endo |
Name: |
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Toshinao Endo |
Title: |
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Managing Director, Head of Documentation & Corporate Secretary Department, Corporate Administration Division |
Mitsubishi UFJ Financial Group, Inc. (MUFG)
MUFG Revises Earnings Target and Dividend Forecast
Tokyo, November 14, 2024 MUFG today announced that it has revised its earnings target for profits attributable to owners of parent and its
year-end dividend forecast for the fiscal year ending March 31, 2025, both announced on May 15, 2024, to take into account recent business performance trends.
1. |
Revision of Earnings Target |
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(1) |
Earnings target for the fiscal year ending March 31, 2025, under Japanese GAAP |
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Profits attributable to owners of parent |
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Previous earnings target (A) |
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¥ |
1,500.0 |
bn |
Revised earnings target (B) |
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¥ |
1,750.0 |
bn |
Change (B-A) |
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¥ |
250.0 |
bn |
Change (%) |
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16.6 |
% |
[Reference]
The result for the fiscal year ended March 31, 2024 |
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¥ |
1,490.7 |
bn |
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(2) |
Reason for the Revision |
Based on steady progress in the business performance of the customer segment and the increase in gains on sales of equity securities due to the
accelerated dissolution of cross-shareholdings, we anticipate an increase in ordinary profit by ¥350 billion compared with the initial forecast.
As a result, we have upwardly revised the earnings target for profits attributable to owners of parent by ¥250 billion, setting it at
¥1,750 billion.
In line with this, we aim to achieve the financial targets of the Medium-term Business Plan (MTBP), which covers
the three years starting from the fiscal year ending March 2025, including profits attributable to owners of parent of ¥1,600 billion or more and ROE of approximately 9%, ahead of schedule, in the current fiscal year
ending March 2025.
1
2. |
Revision of Dividend Forecast |
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(1) |
Dividend forecast for the fiscal year ending March 31, 2025 |
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Dividend per share |
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Term |
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Interim dividend |
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Year-end dividend |
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Annual dividend |
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Previous forecast |
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¥ |
25.00 |
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¥ |
50.00 |
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Revised forecast |
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¥ |
35.00 |
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¥ |
60.00 |
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Actual result for fiscal year ending March 31, 2025 |
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¥ |
25.00 |
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Actual result for fiscal year ended March 31, 2024 |
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¥ |
20.50 |
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¥ |
20.50 |
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¥ |
41.00 |
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(2) |
Reason for the Revision |
MUFG continuously seeks to improve shareholder returns, focusing on dividends in the pursuit of an optimal balance between solid equity capital
and strategic investment for growth. Regarding dividends, MUFG aims for a stable and sustainable increase in dividend per share through profit growth. In the MTBP, MUFG will maintain a disciplined capital management approach with a target dividend
payout ratio of approximately 40%.
Based on these policies and the revision of the earnings target, MUFG has revised its year-end dividend
forecast for this fiscal year from ¥25.00 to ¥35.00 per share. As a result, the annual dividend for the fiscal year ending March 31, 2025 is forecast to be ¥60.00 per share.
- End -
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About MUFG
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the worlds leading financial groups. Headquartered in Tokyo and with over 360 years of history,
MUFG has a global network with approximately 2,000 locations in more than 40 countries. The Group has about 120,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset
management, and leasing. The Group aims to be the worlds most trusted financial group through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society,
and fostering shared and sustainable growth for a better world. MUFGs shares trade on the Tokyo, Nagoya, and New York stock exchanges. For more information, visit https://www.mufg.jp/english.
This notice contains forward-looking statements regarding estimates, forecasts, etc. in relation to the
results of operations, financial conditions and other general management of MUFG and/or the group as a whole (the forward-looking statements). The forward-looking statements are made based upon, among other things, MUFGs current
estimates, perceptions and evaluations. In addition, in order for MUFG to adopt such estimates, forecasts, etc. regarding future events, certain assumptions have been made. Accordingly, the statements and assumptions are inherently not guarantees of
future performance and may result in inaccuracy from an objective point of view and in material differences from actual results. There exist a number of factors that might lead to uncertainties and risks. For the main matters that may be currently
forecast, please see the most recent Financial Highlights, the Annual Securities Report, Disclosure Book, Annual Report, and other disclosures that MUFG has announced.
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