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BW20030528002024 20030528T112851Z UTC
( BW)(MITSUBISHI-TOKYO-FIN)(MTF) Final Results - Part 3 of 5
Business Editors
UK REGULATORY NEWS
TOKYO--(BUSINESS WIRE)--May 28, 2003--
14. Earning Projections for the Fiscal Year Ending March
31, 2004
(Consolidated) (in billions of yen)
---------------------------------------------------------------------------------------------------
For the year ending For the year ended
March 31, 2004 March 31, 2003
---------------------------------------------------------------------------------------------------
Ordinary income 2,880.0 2,772.5
(First half 1,395.0) (First half 1,425.4)
---------------------------------------------------------------------------------------------------
Ordinary Profit (loss) 370.0 (360.2)
(First half 150.0) (First half (193.3))
---------------------------------------------------------------------------------------------------
Net income (loss) 190.0 (161.4)
(First half 70.0) (First half (188.0))
---------------------------------------------------------------------------------------------------
(Non-consolidated) (in billions of yen)
---------------------------------------------------------------------------------------------------
For the year ending For the year ended
March 31, 2004 March 31, 2003
---------------------------------------------------------------------------------------------------
Operating income 44.0 27.2
(First half 42.0) (First half 24.1)
---------------------------------------------------------------------------------------------------
Ordinary profit 40.0 22.4
(First half 40.0 ) (First half 22.3)
---------------------------------------------------------------------------------------------------
Net income 40.0 23.3
(First half 40.0 ) (First half 22.0 )
---------------------------------------------------------------------------------------------------
12. Earning Projections for the Fiscal Year Ending March 31, 2004
(Consolidated) (in billions of yen)
-----------------------------------------------------------------------------------------------------------------
For the year ending For the year ended
March 31, 2004 March 31, 2003
-----------------------------------------------------------------------------------------------------------------
Ordinary income 580.0 609.6
Ordinary income (loss) 70.0 (200.5)
Net income (loss) 35.0 (97.3)
(Non-Consolidated) (in billions of yen)
-----------------------------------------------------------------------------------------------------------------
For the year ending For the year ended
March 31, 2004 March 31, 2003
-----------------------------------------------------------------------------------------------------------------
Ordinary income 550.0 573.8
Net business profits before credit costs
for trust accounts and provision for
formula allowance for loan losses 160.0 178.4
Ordinary income (loss) 70.0 (204.5)
Net income (loss) 35.0 (95.3)
(Contents)
1 Financial Highlights under Japanese GAAP for the Fiscal Year Ended March 31, 2003
1.Consolidated Balance Sheets
2.Consolidated Statements of Operations
3.Consolidated Statement of Capital Surplus and Retained Earnings
4.Notional principal or contract amount, market value and valuation gains (losses) on derivatives
(Consolidated)
5.Financial Results (Consolidated), (Non-Consolidated)
6.Average interest rate spread (Non-Consolidated)
7.Valuation Differences on Securities (Consolidated)
8.Risk-Adjusted Capital Ratio Based on the Standards of the BIS (Consolidated)
2 Loan Portfolio and Other
1. Risk-Monitored Loans (Consolidated), (Non-Consolidated)
2. Allowance for Loan Losses (Consolidated), (Non-Consolidated)
3. Coverage Ratio against Risk-Monitored Loans (Consolidated), (Non-Consolidated)
4. Disclosed Claims under the Financial Reconstruction Law (the "FRL") (Non-Consolidated)
5. Status of Secured Coverage on Disclosed Claims under the FRL (Non-Consolidated)
6. Progress in the Disposal of Problem Assets (Non-Consolidated)
7. Classification of Loans by Type of Industry (Non-Consolidated)
8. Loans and Deposits (Non-Consolidated)
9. Domestic Deposits (Non-Consolidated)
10. Number of Employees (Non-Consolidated)
11. Number of Offices (Non-Consolidated)
12. Earning Projections for the Fiscal Year Ending March 31, 2004 (Consolidated), (Non-Consolidated)
1 Financial Highlights under Japanese GAAP for the Fiscal Year
Ended March 31, 2003 (Japanese GAAP)
1.Consolidated Balance Sheets
As of March 31, Increase/
2003 (A) 2002 (B) (Decrease)
(in millions of yen) (A) - (B)
---------------------------------------------------------------------------------------------------------------
Assets:
Cash and due from banks 7,366,450 6,046,692 1,319,757
Call loans and bills bought 678,407 1,532,567 (854,160)
Receivables under resale agreements 576,814 1,048,130 (471,316)
Receivables under securities borrowing transactions 1,561,391 - 1,561,391
Commercial paper and other debt purchased 484,195 451,737 32,457
Trading assets 5,276,242 4,929,662 346,580
Money held in trust 405,882 304,060 101,822
Investment securities 16,600,079 16,766,117 (166,038)
Allowance for losses on investment securities (2,067) (1,500) (566)
Loans and bills discounted 38,668,577 39,994,893 (1,326,316)
Foreign exchanges 594,767 546,574 48,192
Other assets 2,067,540 3,407,899 (1,340,358)
Premises and equipment 801,917 792,720 9,196
Deferred debenture discounts and other costs 9 158 (148)
Deferred tax assets 1,008,726 763,281 245,444
Customers' liabilities for acceptances and guarantees 4,518,715 5,394,983 (876,268)
Allowance for loan losses (1,016,265) (1,259,662) 243,397
---------------------------------------------------------------------------------------------------------------
Total assets 79,591,387 80,718,319 (1,126,932)
---------------------------------------------------------------------------------------------------------------
Liabilities:
Deposits 52,095,330 49,329,946 2,765,384
Negotiable certificates of deposit 2,625,077 1,955,432 669,644
Debentures 636,060 2,275,570 (1,639,510)
Call money and bills sold 3,013,869 3,610,489 (596,619)
Payables under repurchase agreements 2,828,308 3,050,219 (221,911)
Payables under securities lending transactions 1,996,214 - 1,996,214
Commercial paper 312,208 339,367 (27,159)
Trading liabilities 1,455,493 574,197 881,296
Borrowed money 1,303,831 1,617,957 (314,125)
Foreign exchanges 512,676 490,543 22,132
Short-term corporate bonds 10,000 - 10,000
Bonds and notes 3,188,379 3,053,783 134,595
Convertible bonds - 445,361 (445,361)
Bonds with warrants 50,528 - 50,528
Other liabilities 2,166,328 5,531,978 (3,365,650)
Reserve for employees' bonuses 12,531 10,186 2,344
Reserve for employees' retirement benefits 26,429 13,017 13,411
Reserve for losses on real estate-collateralized loans sold - 7,233 (7,233)
Reserve for expenses related to EXPO 2005 Japan 31 - 31
Reserves under special laws 799 436 363
Deferred tax liabilities 61,037 46,936 14,100
Deferred tax liabilities on land revaluation excess 133,453 128,249 5,203
Acceptances and guarantees 4,518,715 5,394,983 (876,268)
---------------------------------------------------------------------------------------------------------------
Total liabilities 76,947,306 77,875,894 (928,587)
---------------------------------------------------------------------------------------------------------------
Minority interest 330,812 201,655 129,157
---------------------------------------------------------------------------------------------------------------
Shareholder's equity:
Capital stock 871,973 785,969 86,003
Capital surplus 681,928 595,925 86,003
Retained earnings 858,177 1,026,305 (168,127)
Land revaluation excess 197,489 209,355 (11,866)
Unrealized gains (losses) on securities available for sale (227,826) 46,260 (274,087)
Foreign currency translation adjustments (68,474) (23,046) (45,428)
---------------------------------------------------------------------------------------------------------------
Total shareholder's equity 2,313,268 2,640,770 (327,501)
---------------------------------------------------------------------------------------------------------------
Total liabilities, minority interest
and shareholder's equity 79,591,387 80,718,319 (1,126,932)
---------------------------------------------------------------------------------------------------------------
(Japanese GAAP)
2.Consolidated Statements of Operations
For the year ended Increase/
March 31, (Decrease)
(in millions of yen) 2003 (A) 2002 (B) (A) - (B)
----------------------------------------------------------------------------------------------------------------
Ordinary income:
Interest income: 1,347,905 1,828,671 (480,766)
Interest on loans and discounts 886,442 1,094,249 (207,806)
Interest and dividends on securities 216,381 262,104 (45,723)
Other interest income 245,082 472,318 (227,236)
Trust fees 18,515 22,064 (3,549)
Fees and commissions 377,440 351,306 26,134
Trading profits 76,654 57,319 19,334
Other business income 218,914 173,977 44,937
Other ordinary income 146,742 174,483 (27,740)
----------------------------------------------------------------------------------------------------------------
Total ordinary income 2,186,174 2,607,823 (421,649)
----------------------------------------------------------------------------------------------------------------
Ordinary expenses:
Interest expense: 491,872 908,214 (416,342)
Interest on deposits 183,936 376,580 (192,643)
Interest on debentures and 8,504 20,573 (12,069)
amortization of debenture discounts
Other interest expense 299,431 511,060 (211,629)
Fees and commissions 66,074 56,934 9,140
Trading losses - 5,510 (5,510)
Other business expenses 72,104 68,469 3,635
General and administrative expenses 855,093 812,163 42,929
Other ordinary expenses 973,652 942,423 31,228
----------------------------------------------------------------------------------------------------------------
Total ordinary expenses 2,458,796 2,793,717 (334,920)
----------------------------------------------------------------------------------------------------------------
Ordinary loss (272,622) (185,893) (86,729)
----------------------------------------------------------------------------------------------------------------
Special gains 39,919 153,987 (114,068)
Special losses 24,658 22,076 2,582
----------------------------------------------------------------------------------------------------------------
Loss before income taxes and others (257,361) (53,981) (203,379)
----------------------------------------------------------------------------------------------------------------
Income taxes-current 54,906 30,771 24,134
Income taxes-deferred (178,443) (147,344) (31,099)
Minority interest 4,293 18,681 (14,387)
----------------------------------------------------------------------------------------------------------------
Net loss (138,117) 43,909 (182,027)
----------------------------------------------------------------------------------------------------------------
(Japanese GAAP)
3. Consolidated Statement of Capital Surplus and Retained Earnings
For the year ended
(in millions of yen) March 31, 2003
-------------------------------------------------------------------------------------------------
Balance of capital surplus at beginning of fiscal year 595,925
Increase: 86,003
Issuance of common stock due to capital increase 86,003
Balance of capital surplus at end of fiscal year 681,928
Balance of retained earnings at beginning of fiscal year 1,026,305
Increase: 7,021
Reduction in land revaluation excess 4,130
Change in ownership percentage to a consolidated subsidiary
due to stock repurchase by the subsidiary 2,648
Decrease in consolidated companies accounted for by the equity method 242
Decrease: (175,148)
Net loss (138,117)
Cash dividends (17,384)
Bonuses to directors of consolidated subsidiaries (3)
Change in ownership percentage to consolidated subsidiaries and
a company accounted for by the equity method due to their merger (15,896)
Increase in consolidated subsidiaries and companies accounted
for by the equity method (3,746)
----------------------------------------------------------------------------------------------
Balance of retained earnings at end of fiscal year 858,177
Consolidated Statement of Retained Earnings
For the year ended
(in millions of yen) March 31, 2002
--------------------------------------------------------------------------------------------------
Balance of retained earnings at beginning of fiscal year 1,055,929
Increase: 3,134
Reduction in land revaluation excess 3,134
Decrease: (76,668)
Cash dividends (76,658)
Bonuses to directors of consolidated subsidiaries (10)
Net income 43,909
--------------------------------------------------------------------------------------------------
Balance of retained earnings at end of fiscal year 1,026,305
(Japanese GAAP)
4.Notional principal or contract amount, market value and valuation gains (losses)
on derivatives
a. Interest rate-related
transactions
(in millions of yen)
------------------------------------------------------------------------------------------------
As of March 31, 2003
--------------------------------------------------------------
Notional with maturity Market value Valuation
principal of over 1 year gains
or contract (losses)
amount
------------------------------------------------------------------------------------------------
Exchange-traded
------------------------------------------------------------------------------------------------
sell 4,979,785 235,364 (37,589) (37,589)
Futures --------------------------------------------------------------------------------
buy 6,778,166 656,231 27,420 27,420
----------------------------------------------------------------------------------------------
sell 16,690,400 -- (17,299) (10,658)
Options --------------------------------------------------------------------------------
buy 22,231,699 8,124 35,101 21,091
------------------------------------------------------------------------------------------------
Over-the-counter
------------------------------------------------------------------------------------------------
FRAs sell 702,374 452 973 973
--------------------------------------------------------------------------------
buy 799,281 42,336 (2,649) (2,649)
----------------------------------------------------------------------------------------------
Swaps receive-fix/
pay-floater 103,210,682 79,667,570 3,953,096 3,953,096
--------------------------------------------------------------------------------
receive-
floater/pay-fix 102,240,024 77,692,511 (3,831,879) (3,831,879)
--------------------------------------------------------------------------------
receive-
floater/pay-
floater 5,773,332 4,191,386 (8,903) (8,903)
--------------------------------------------------------------------------------
receive-fix/
pay-fix 194,856 100,767 (4,233) (4,233)
----------------------------------------------------------------------------------------------
sell 6,956,713 4,267,621 (98,417) (64,355)
Others --------------------------------------------------------------------------------
buy 5,520,093 3,334,827 102,102 68,476
------------------------------------------------------------------------------------------------
Total 117,722 110,789
------------------------------------------------------------------------------------------------
Notes: 1. Valuation gains (losses) are recognized in the consolidated
statement of operations. Derivatives which qualify for
hedge-accounting are not included in the above table.
2. Market values of exchange-traded transactions are based on closing
prices on the Tokyo International Financial Futures Exchange, etc.
Market values of over-the-counter transactions are based on
discounted cash flow method, option pricing models, etc.
b. Foreign exchange-related
transactions
(in millions of yen)
------------------------------------------------------------------------------------------------
As of March 31, 2003
--------------------------------------------------------------
Notional with maturity Market value Valuation
principal of over 1 year gains
or contract (losses)
amount
------------------------------------------------------------------------------------------------
Over-the-counter
------------------------------------------------------------------------------------------------
Swaps 9,419,404 6,111,382 (110,061) (110,061)
----------------------------------------------------------------------------------------------
sell
Forward 23,912 (523) (523)
contracts --------------------------------------------------------------------------------
buy 16,662 788 788
----------------------------------------------------------------------------------------------
sell 883 (6) 6
Options --------------------------------------------------------------------------------
buy 883 6 (3)
------------------------------------------------------------------------------------------------
Total (109,796) (109,794)
------------------------------------------------------------------------------------------------
Notes: 1. Valuation gains are recognized in the consolidated statement of
operations. Derivatives which qualify for hedge-accounting and/or
which are applicable to notes 3. are not included in the above
table.
2. Market values of over-the-counter transactions are based on
discounted cash flow method, option pricing models, etc.
3. Currency swaps which are accounted for by an accrual basis are not
included in the above table. Notional principal amount, market
value and valuation gains of currency swaps which are accounted
for by an accrual basis are as follows:
(in millions of yen)
---------------------------------------------------------------------------------
As of March 31, 2003
-------------------------------------------------
Notional Market value Valuation
principal losses
amount
---------------------------------------------------------------------------------
Swaps 2,829,937 (47,410) (47,410)
---------------------------------------------------------------------------------
Other foreign exchange-related transactions such as forward
exchange contracts and currency options, which valuation gains
(losses) had been recognized in the consolidated statement of
operations, are not included in the above table.
Notional principal or contract amounts of those foreign
exchange-related transactions are as follows:
--------------------------------------------------------------
As of March 31, 2003
--------------------------------
Notional principal or contract
amount
--------------------------------------------------------------
Exchange-traded
--------------------------------------------------------------
sell 564
Futures ----------------------------------------------
buy 2,985
--------------------------------------------------------------
Over-the-counter
--------------------------------------------------------------
Forward sell 25,591,471
contracts ----------------------------------------------
buy 26,879,793
-------------------------------------------------------------
sell 4,926,775
Options ----------------------------------------------
buy 4,633,370
--------------------------------------------------------------
(Japanese GAAP)
c. Equity-related transactions
(in millions of yen)
---------------------------------------------------------------------------------------------
As of March 31, 2003
----------------------------------------------------------
Notional principal with maturity Market Valuation
or contract amount of over 1 value gains
year (losses)
---------------------------------------------------------------------------------------------
Exchange-traded
---------------------------------------------------------------------------------------------
sell 96,698 -- 1,560 1,560
Futures ------------------------------------------------------------------------
buy 82 -- (0) (0)
-------------------------------------------------------------------------------------------
sell 19,693 -- (247) 38
Options ------------------------------------------------------------------------
buy 11,450 -- 1,508 72
---------------------------------------------------------------------------------------------
Over-the-counter
---------------------------------------------------------------------------------------------
sell 49,054 25,657 (1,980) (1,185)
Options ------------------------------------------------------------------------
buy 69,266 39,394 2,455 1,825
-------------------------------------------------------------------------------------------
receive-index swaps 38 38 -- --
Swaps ------------------------------------------------------------------------
pay-index swaps -- -- -- --
-------------------------------------------------------------------------------------------
Index sell
forwards 260 -- 7 7
------------------------------------------------------------------------
buy 1,007 -- (57) (57)
---------------------------------------------------------------------------------------------
Total 3,246 2,261
---------------------------------------------------------------------------------------------
Notes: 1. Valuation gains (losses) are recognized in the consolidated
statement of operations.
2. Market values of exchange-traded transactions are based on
closing prices on the Tokyo Stock Exchange, etc. Market values
of over-the-counter transactions are based on discounted cash
flow method, option pricing models, etc.
d. Bond-related transactions
(in millions of yen)
---------------------------------------------------------------------------------------------
As of March 31, 2003
----------------------------------------------------------
Notional principal with maturity Market Valuation
or contract amount of over 1 value gains
year (losses)
---------------------------------------------------------------------------------------------
Exchange-traded
---------------------------------------------------------------------------------------------
sell 525,471 27,604 (1,020) (1,020)
Futures ------------------------------------------------------------------------
buy 551,546 22,762 1,025 1,025
-------------------------------------------------------------------------------------------
sell 88,630 37,431 (139) 260
Options ------------------------------------------------------------------------
buy 202,912 37,431 276 (300)
---------------------------------------------------------------------------------------------
Over-the-counter
---------------------------------------------------------------------------------------------
sell 487,927 -- (3,661) (1,187)
Options ------------------------------------------------------------------------
buy 310,284 -- 691 (116)
---------------------------------------------------------------------------------------------
Total (2,827) (1,338)
---------------------------------------------------------------------------------------------
Notes: 1. Valuation gains (losses) are recognized in the consolidated
statement of operations. Derivatives which qualify for
hedge-accounting are not included in the above table.
2. Market values of exchange-traded transactions are based on
closing prices on the Tokyo Stock Exchange, etc. Market values
of over-the-counter transactions are based on option pricing
models, etc.
e. Commodity-related transactions
(in millions of yen)
---------------------------------------------------------------------------------------------
As of March 31, 2003
----------------------------------------------------------
Notional principal with maturity Market Valuation
or contract amount of over 1 value gains
year (losses)
---------------------------------------------------------------------------------------------
Exchange-traded
---------------------------------------------------------------------------------------------
sell 1,123 (41) (41)
Futures ------------------------------------------------------------------------
buy 3,491 3,224 159 159
---------------------------------------------------------------------------------------------
Over-the-counter
---------------------------------------------------------------------------------------------
receive-index swaps 138,709 71,273 (14,903) (14,903)
Swaps ------------------------------------------------------------------------
pay-index swaps 123,008 45,895 14,654 14,654
-------------------------------------------------------------------------------------------
sell 28,774 8,192 (1,881) (505)
Options ------------------------------------------------------------------------
buy 33,528 7,546 3,903 1,999
---------------------------------------------------------------------------------------------
Total 1,891 1,362
---------------------------------------------------------------------------------------------
Notes: 1. Valuation gains (losses) are recognized in the consolidated
statement of operations.
2. Market values of exchange-traded transactions are based on
closing prices on the International Petroleum Exchange, etc.
Market values of over-the-counter transactions are based on
the price of the commodities, contract terms, and other
factors comprising the contract of transactions.
3. Commodities are mainly related to petroleum.
(Japanese GAAP)
f. Credit
derivatives
(in millions of yen)
---------------------------------------------------------------------------------------
As of March 31, 2003
----------------------------------------------------------
Notional with maturity Market value Valuation
principal of over 1 gains
or contract year
amount
---------------------------------------------------------------------------------------
Over-the-counter
---------------------------------------------------------------------------------------
Credit default sell
options 342,536 275,427 29,452 29,452
----------------------------------------------------------------------
buy 489,391 334,624 648 648
------------------------------------------------------------------------------------
sell 3,227 -- 286 286
Others ----------------------------------------------------------------------
buy -- -- -- --
---------------------------------------------------------------------------------------
Total 30,386 30,386
---------------------------------------------------------------------------------------
Notes: 1. Valuation gains (losses) are recognized in the consolidated
statement of operations.
2. Market values are based on discounted cash flow method, option
pricing models, etc.
3. In the above table, "sell" indicates credit risks assumed, and
"buy" indicates credit risks transferred.
g. Others
(in millions of yen)
---------------------------------------------------------------------------------------
As of March 31, 2003
----------------------------------------------------------
Notional with maturity Market value Valuation
principal of over 1 gains
or contract year
amount
---------------------------------------------------------------------------------------
Over-the-counter
---------------------------------------------------------------------------------------
sell
Weather 215 -- (8) 26
derivatives ---------------------------------------------------------------------
buy -- -- -- --
---------------------------------------------------------------------------------------
Total (8) 26
---------------------------------------------------------------------------------------
Notes: 1. Valuation gains (losses) are recognized in the
consolidated statement of operations.
2. Market values are based on option pricing models, etc.
(Reference)
Derivatives qualified for hedge-accounting
(in billions of yen)
---------------------------------------------------------------------------------------
As of March 31, 2003
----------------------------------------------------------------------
Notional Market Deferred Deferred Deferred
principal value hedge hedge hedge profit
or contract profit loss and
amount loss
---------------------------------------------------------------------------------------
Interest Rate
futures 1,410.0 4.2 57.5 41.9 15.6
---------------------------------------------------------------------------------------
Interest Rate
Swaps 20,715.8 135.7 356.3 286.6 69.6
---------------------------------------------------------------------------------------
Other
(interest rate-
related
transactions) 65.5 (0.1) 0.2 0.3 (0.1)
---------------------------------------------------------------------------------------
Other 545.1 (2.4) 24.6 29.8 (5.2)
---------------------------------------------------------------------------------------
Total 137.3 438.7 358.8 79.9
---------------------------------------------------------------------------------------
Notes: 1. Derivatives which qualify for hedge-accounting are
included in the above table.
2. The transactions in the table above are reported on a
mark-to-market basis on the consolidated balance sheet.
The valuation differences which do not correspond to the
income/expenses accruing on hedged items are deferred
assets/liabilities.
Notional principal by the remaining life of the interest rate swaps
above is as follows:
(in billions of yen)
----------------------------------------------------------------------
As of March 31, 2003
--------------------------------------------------------
Due within 1 Due after 1 Due after 5 Total
year year through years
5 years
----------------------------------------------------------------------
Receive-
fix/pay-
floater 7,275.8 6,499.4 1,086.6 14,861.9
----------------------------------------------------------------------
Receive-
floater/pay-
fix 2,145.8 2,821.5 737.3 5,704.7
----------------------------------------------------------------------
Receive-
floater/pay-
floater 19.2 76.7 53.1 149.1
----------------------------------------------------------------------
Total 9,441.0 9,397.7 1,877.0 20,715.8
----------------------------------------------------------------------
5. Financial Results (The Bank of Tokyo-Mitsubishi, Ltd. and Consolidated Subsidiaries)
(in millions of yen)
--------------------------------------------------------------------------------------------------------------
For the For the
year ended Increase/ year ended
March 31, (Decrease) March 31,
2003 (A) (A) - (B) 2002 (B)
--------------------------------------------------------------------------------------------------------------
Gross profits 1,411,032 14,119 1,396,912
--------------------------------------------------------------------------------------------------------------
Net interest income 857,686 (65,473) 923,159
Trust fees 18,515 (3,549) 22,064
Net fees and commissions 311,366 16,994 294,372
Net trading profits 76,654 24,845 51,808
Net other business income 146,809 41,301 105,507
Net gains on debt securities 63,178 34,382 28,796
--------------------------------------------------------------------------------------------------------------
General and administrative expenses 813,531 31,676 781,855
--------------------------------------------------------------------------------------------------------------
Net business profits before 597,500 (17,556) 615,057
provision for formula allowance for loan losses
--------------------------------------------------------------------------------------------------------------
Provision for formula allowance for loan losses (1) 42,739 18,393 24,345
--------------------------------------------------------------------------------------------------------------
Net business profits* 554,761 (35,949) 590,711
--------------------------------------------------------------------------------------------------------------
Net non-recurring losses (827,384) (50,779) (776,605)
--------------------------------------------------------------------------------------------------------------
Credit related costs (2) (349,921) 214,888 (564,810)
Losses on loan charge-offs (165,727) 70,358 (236,086)
Provision for specific allowance for loan losses (39,809) 225,777 (265,586)
Losses on sales of loans to the Resolution and Collection Corporation (73,030) (69,124) (3,906)
Other credit related costs (71,354) (12,123) (59,231)
Net losses on equity securities (386,611) (187,202) (199,409)
Gains on sales of equity securities 52,997 (16,628) 69,626
Losses on sales of equity securities (184,774) (4,282) (180,491)
Losses on write down of equity securities (254,835) (166,290) (88,544)
Equity in loss of affiliates (9,009) 2,495 (11,505)
Other (81,841) (80,961) (880)
--------------------------------------------------------------------------------------------------------------
Ordinary loss (272,622) (86,729) (185,893)
--------------------------------------------------------------------------------------------------------------
Net special gains 15,261 (116,650) 131,911
--------------------------------------------------------------------------------------------------------------
Loss before income taxes and others (257,361) (203,379) (53,981)
--------------------------------------------------------------------------------------------------------------
Income taxes-current 54,906 24,134 30,771
--------------------------------------------------------------------------------------------------------------
Income taxes-deferred (178,443) (31,099) (147,344)
--------------------------------------------------------------------------------------------------------------
Minority interest 4,293 (14,387) 18,681
--------------------------------------------------------------------------------------------------------------
Net income (loss) (138,117) (182,027) 43,909
--------------------------------------------------------------------------------------------------------------
Note: * Net business profits = Net business profits of The Bank of Tokyo-Mitsubishi,Ltd. + Other consolidated
entities' gross profits - Other consolidated entities' general and administrative expenses - Other
consolidated entities' provision for formula allowance for loan losses - Intercompany transactions.
(Reference)
-------------------------------------------------------------------------------------------------------------
Total credit costs (1) + (2) 392,661 (196,495) 589,156
-------------------------------------------------------------------------------------------------------------
Number of consolidated subsidiaries 150 (1) 151
-------------------------------------------------------------------------------------------------------------
Number of affiliated companies accounted for by the equity method 23 (3) 26
-------------------------------------------------------------------------------------------------------------
Financial Results (The Bank of Tokyo-Mitsubishi, Ltd.)
(in millions of yen)
-------------------------------------------------------------------------------------------------------------
For the For the
year ended Increase/ year ended
March 31, (Decrease) March 31,
2003 (A) (A) - (B) 2002 (B)
-------------------------------------------------------------------------------------------------------------
Gross profits 978,054 27,604 950,449
-------------------------------------------------------------------------------------------------------------
Domestic gross profits 545,956 5,555 540,401
Net interest income 427,416 (25,388) 452,805
Net fees and commissions 71,532 7,129 64,402
Net trading profits 16,764 2,868 13,895
Net other business income 30,243 20,945 9,297
Net gains on debt securities 32,186 20,613 11,572
------------------------------------------------------------------------------------------------------------
Non-domestic gross profits 432,097 22,048 410,048
Net interest income 227,149 (7,725) 234,875
Net fees and commissions 61,441 (4,689) 66,130
Net trading profits 32,703 5,450 27,252
Net other business income 110,803 29,012 81,790
Net gains on debt securities 30,034 15,490 14,543
-------------------------------------------------------------------------------------------------------------
General and administrative expenses 466,499 (20,634) 487,133
-------------------------------------------------------------------------------------------------------------
Personnel expenses 183,535 (5,600) 189,135
Non-personnel expenses 260,226 (12,316) 272,543
Taxes 22,737 (2,717) 25,455
-------------------------------------------------------------------------------------------------------------
Net business profits before 511,555 48,238 463,316
provision for formula allowance for loan losses
-------------------------------------------------------------------------------------------------------------
Provision for formula allowance for loan losses 49,698 28,700 20,998
-------------------------------------------------------------------------------------------------------------
Net business profits 461,856 19,537 442,318
-------------------------------------------------------------------------------------------------------------
Net non-recurring losses (761,896) 15,309 (777,206)
-------------------------------------------------------------------------------------------------------------
Credit related costs (291,389) 172,445 (463,835)
Losses on loan charge-offs (141,491) 35,291 (176,782)
Provision for specific allowance for loan losses 3,140 220,112 (216,972)
Net losses on sale of domestic bad loans and similar claims (81,591) (64,321) (17,270)
Provision for allowance for loans to specific foreign borrowers 13,370 27,325 (13,954)
Losses on financial assistance to subsidiaries (26,616) (18,684) (7,932)
Other credit related costs (58,201) (27,277) (30,923)
Net losses on equity securities (370,560) (83,367) (287,193)
Gains on sales of equity securities 73,897 (196) 74,094
Losses on sales of equity securities (184,528) (4,505) (180,023)
Losses on write down of equity securities (259,928) (78,664) (181,264)
and provision for allowance for losses on investment securities
Others (99,946) (73,768) (26,177)
-------------------------------------------------------------------------------------------------------------
Ordinary loss (300,040) 34,847 (334,888)
-------------------------------------------------------------------------------------------------------------
Net special gains 12,707 (4,747) 17,454
-------------------------------------------------------------------------------------------------------------
Net losses on sale of premises and equipment (13,893) (3,162) (10,731)
Gain on loans charged-off 30,350 (2,750) 33,101
-------------------------------------------------------------------------------------------------------------
Loss before income taxes (287,333) 30,100 (317,433)
-------------------------------------------------------------------------------------------------------------
Income taxes-current 22,925 30,161 (7,236)
-------------------------------------------------------------------------------------------------------------
Income taxes-deferred (218,141) (133,172) (84,968)
-------------------------------------------------------------------------------------------------------------
Net loss (92,116) 133,111 (225,228)
-------------------------------------------------------------------------------------------------------------
6. Average interest rate spread
(Non-Consolidated)
(percentage per annum)
-----------------------------------------------------------------------------------------------------------------------
For the year ended Increase/
March 31, (Decrease)
--------------------------------
2003(A) 2002(B) (A) - (B)
-----------------------------------------------------------------------------------------------------------------------
Total average interest rate on interest-earning assets (a) 1.78 2.39 + 0.60
-----------------------------------------------------------------------------------------------------------------------
Average interest rate on Loans and bills discounted 1.82 2.21 + 0.39
-------------------------------------------------------------------------------------------------------------------
Average interest rate on Investment securities 1.13 1.56 + 0.43
-----------------------------------------------------------------------------------------------------------------------
Total average interest rate on interest-bearing liabilities (b) 1.41 2.04 + 0.63
-----------------------------------------------------------------------------------------------------------------------
Average interest rate on Deposits, NCD and Debentures 0.32 0.76 + 0.43
-------------------------------------------------------------------------------------------------------------------
Average interest rate on external liabilities 1.28 1.54 + 0.25
-----------------------------------------------------------------------------------------------------------------------
Total average interest rate spread (a)-(b) 0.37 0.34 0.02
-----------------------------------------------------------------------------------------------------------------------
Average interest rate spread in domestic business segment:
(percentage per annum)
-----------------------------------------------------------------------------------------------------------------------
Total average interest rate on interest-earning assets (a) 1.16 1.33 + 0.17
-----------------------------------------------------------------------------------------------------------------------
Average interest rate on Loans and bills discounted 1.53 1.70 + 0.17
-------------------------------------------------------------------------------------------------------------------
Average interest rate on Investment securities 0.57 0.84 + 0.27
-----------------------------------------------------------------------------------------------------------------------
Total average interest rate on interest-bearing liabilities (b) 0.88 1.06 + 0.17
-----------------------------------------------------------------------------------------------------------------------
Average interest rate on Deposits, NCD and Debentures 0.06 0.14 + 0.08
-------------------------------------------------------------------------------------------------------------------
Average interest rate on external liabilities 0.98 1.06 + 0.08
-----------------------------------------------------------------------------------------------------------------------
Total average interest rate spread (a)-(b) 0.27 0.27 + 0.00
-----------------------------------------------------------------------------------------------------------------------
7. Valuation Differences on Securities
(1) Valuation method of securities
-----------------------------------------------------------------------------------------------------------------------
Trading securities Market value (valuation differences are recorded as profits or loses)
-----------------------------------------------------------------------------------------------------------------------
Debt securities being held to maturity Amortized cost
-----------------------------------------------------------------------------------------------------------------------
Securities available for sale Market value (valuation differences are included in shareholders' equity,
net of income taxes)
-----------------------------------------------------------------------------------------------------------------------
(Reference) Securities in money held in trust
-----------------------------------------------------------------------------------------------------------------------
Trading purposes Market value (valuation differences are recorded as profits or loses)
-----------------------------------------------------------------------------------------------------------------------
Being held to maturity Amortized cost
-----------------------------------------------------------------------------------------------------------------------
Other Market value (valuation differences are included in shareholders' equity,
net of income taxes)
-----------------------------------------------------------------------------------------------------------------------
(2) Valuation differences
(Consolidated) (in millions of yen)
------------------------------------------------------------------------------------------------------------
As of March 31, 2003 As of March 31, 2002
------------------------------------- --------------------------
Valuation differences Valuation differences
------------------------------------- --------------------------
(A) (A) - (B) Gains Losses (B) Gains Losses
-------------------------------------------------------------------------------- --------------------------
Debt securities being held to maturity 1,940 515 1,942 1 1,424 1,547 122
-------------------------------------------------------------------------------- --------------------------
Securities available for sale (246,944) (331,133) 298,039 544,984 84,188 529,303 445,114
-------------------------------------------------------------------------------- --------------------------
Domestic equity securities (290,404) (355,793) 168,888 459,293 65,388 433,492 368,104
------------------------------------------------------------------------------ --------------------------
Domestic bonds 65,158 26,174 67,259 2,100 38,984 42,084 3,100
------------------------------------------------------------------------------ --------------------------
Other (21,698) (1,514) 61,892 83,590 (20,184) 53,725 73,910
-------------------------------------------------------------------------------- --------------------------
Total (245,003) (330,617) 299,982 544,985 85,613 530,850 445,237
-------------------------------------------------------------------------------- --------------------------
Domestic equity securities (290,404) (355,793) 168,888 459,293 65,388 433,492 368,104
------------------------------------------------------------------------------ --------------------------
Domestic bonds 65,158 26,174 67,259 2,100 38,984 42,084 3,100
------------------------------------------------------------------------------ --------------------------
Other (19,757) (998) 63,834 83,591 (18,759) 55,273 74,032
-------------------------------------------------------------------------------- --------------------------
8. Risk-Adjusted Capital Ratio Based on the Standards of the BIS
(in billions of yen)
--------------------------------------------------------------------------------------------------------------
As of Increase/ Increase/ As of As of
March 31, (Decrease) (Decrease) March 31, Sept. 30,
2003 (A) (A) - (B) (A) - (C) 2002 (B) 2002 (C)
(Preliminary
basis)
--------------------------------------------------------------------------------------------------------------
(1)Risk-adjusted capital ratio 10.43% 0.14% 0.00% 10.29% 10.43%
(2)Tier I capital 2,400.2 (156.4) (25.6) 2,556.6 2,425.8
(3)Tier II capital includable as qualifying capital 2,291.3 (265.3) (104.7) 2,556.6 2,396.0
i) The amount of unrealized gains on investment
securities, includable as qualifying capital -- (36.6) -- 36.6 --
ii) The amount of land revaluation excess includable as
qualifying capital 148.9 (2.9) (0.7) 151.8 149.6
iii) Subordinated debt 1,581.1 (269.1) (109.0) 1,850.3 1,690.2
(4)Tier III capital includable as qualifying capital 30.0 30.0 0.2 29.8
(5)Deductions from total qualifying capital 33.9 (69.1) 8.2 103.0 25.6
(6)Total qualifying capital (2)+(3)+(4)-(5) 4,687.7 (322.5) (138.3) 5,010.2 4,826.0
(7)Risk-adjusted assets 44,903.0 (3,754.8) (1,366.2) 48,657.8 46,269.2
--------------------------------------------------------------------------------------------------------------
2 Loan Portfolio and Other
1. Risk-Monitored Loans
(Nonaccrual loans, accruing loans contractually past due 3 months or more and restructured loans)
(Consolidated)
(in millions of yen)
---------------------------------------------------------------------------------------------------------------
As of Increase/ Increase/ As of As of
March 31, (Decrease) (Decrease) March 31, September 30,
2003 (A) (A) - (B) (A) - (C) 2002 (B) 2002 (C)
-------------------------------------------------------------------------------------------------------------
Loans to customers in bankruptcy 53,709 (59,868) (28,602) 113,577 82,311
-------------------------------------------------------------------------------------------------------------
Past due loans 923,229 (568,462) (205,748) 1,491,691 1,128,978
-------------------------------------------------------------------------------------------------------------
Accruing loans contractually 18,078 293 4,475 17,785 13,603
past due 3 months or more
-------------------------------------------------------------------------------------------------------------
Restructured loans 977,483 (557,931) (447,826) 1,535,415 1,425,310
-------------------------------------------------------------------------------------------------------------
Total 1,972,501 (1,185,969) (677,702) 3,158,470 2,650,203
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
Loans and bills discounted 38,668,577 (1,326,316) 525,774 39,994,893 38,142,802
---------------------------------------------------------------------------------------------------------------
Percentage of total loans and bills discounted
---------------------------------------------------------------------------------------------------------------
Loans to customers in bankruptcy 0.13% (0.14)% (0.07)% 0.28% 0.21%
-------------------------------------------------------------------------------------------------------------
Past due loans 2.38% (1.34)% (0.57)% 3.72% 2.95%
-------------------------------------------------------------------------------------------------------------
Accruing loans contractually 0.04% 0.00% 0.01% 0.04% 0.03%
past due 3 months or more
-------------------------------------------------------------------------------------------------------------
Restructured loans 2.52% (1.31)% (1.20)% 3.83% 3.73%
-------------------------------------------------------------------------------------------------------------
Total 5.10% (2.79)% (1.84)% 7.89% 6.94%
-------------------------------------------------------------------------------------------------------------
(Non-Consolidated)
(in millions of yen)
---------------------------------------------------------------------------------------------------------------
As of Increase/ Increase/ As of As of
March 31, (Decrease) (Decrease) March 31, September 30,
2003 (A) (A) - (B) (A) - (C) 2002 (B) 2002 (C)
-------------------------------------------------------------------------------------------------------------
Loans to customers in bankruptcy 47,352 (42,230) (15,210) 89,583 62,563
-------------------------------------------------------------------------------------------------------------
Past due loans 825,467 (601,716) (239,390) 1,427,183 1,064,857
-------------------------------------------------------------------------------------------------------------
Accruing loans contractually 17,085 1,023 5,774 16,062 11,311
past due 3 months or more
-------------------------------------------------------------------------------------------------------------
Restructured loans 1,038,848 (481,378) (421,844) 1,520,227 1,460,693
-------------------------------------------------------------------------------------------------------------
Total 1,928,753 (1,124,302) (670,671) 3,053,056 2,599,425
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
Loans and bills discounted 34,724,836 (895,980) 561,391 35,620,817 34,163,445
---------------------------------------------------------------------------------------------------------------
Percentage of total loans and bills discounted
---------------------------------------------------------------------------------------------------------------
Loans to customers in bankruptcy 0.13% (0.11)% (0.04)% 0.25% 0.18%
-------------------------------------------------------------------------------------------------------------
Past due loans 2.37% (1.62)% (0.73)% 4.00% 3.11%
-------------------------------------------------------------------------------------------------------------
Accruing loans contractually 0.04% 0.00% 0.01% 0.04% 0.03%
past due 3 months or more
-------------------------------------------------------------------------------------------------------------
Restructured loans 2.99% (1.27)% (1.28)% 4.26% 4.27%
-------------------------------------------------------------------------------------------------------------
Total 5.55% (3.01)% (2.05)% 8.57% 7.60%
-------------------------------------------------------------------------------------------------------------
Classification of risk-monitored Loans
Classification by geographic area
(Consolidated)
(in millions of yen)
--------------------------------------------------------------------------------------------------
As of Increase/ Increase/ As of As of
March 31, (Decrease) (Decrease) March 31, September 30,
2003 (A) (A) - (B) (A) - (C) 2002 (B) 2002 (C)
--------------------------------------------------------------------------------------------------
Domestic* 1,636,411 (1,205,670) (705,656) 2,842,081 2,342,067
--------------------------------------------------------------------------------------------------
Overseas* 336,090 19,701 27,953 316,388 308,136
--------------------------------------------------------------------------------------------------
Asia 56,710 (59,019) (14,427) 115,729 71,137
------------------------------------------------------------------------------------------
Indonesia 12,431 (23,147) (12,701) 35,579 25,133
Thailand 10,879 (26,897) (15,496) 37,776 26,375
Hong Kong 13,064 1,677 10,482 11,386 2,581
Other 20,335 (10,652) 3,288 30,987 17,047
----------------------------------------------------------------------------------------------
United States of America 175,847 36,829 49,071 139,017 126,775
Other 103,532 41,890 (6,690) 61,641 110,222
--------------------------------------------------------------------------------------------------
Total 1,972,501 (1,185,969) (677,702) 3,158,470 2,650,203
--------------------------------------------------------------------------------------------------
Note:* "Domestic" and "Overseas" are classified by domicile of borrowers.
Classification by type of industry of borrowers
(Consolidated)
(in millions of yen)
--------------------------------------------------------------------------------------------------
As of Increase/ Increase/ As of As of
March 31, (Decrease) (Decrease) March 31, September 30,
2003 (A) (A) - (B) (A) - (C) 2002 (B) 2002 (C)
--------------------------------------------------------------------------------------------------
Domestic* 1,636,411 (1,205,670) (705,656) 2,842,081 2,342,067
--------------------------------------------------------------------------------------------------
Manufacturing 203,095 (158,468) (112,451) 361,563 315,546
Construction 118,934 (118,512) (76,583) 237,446 195,518
Wholesale and Retail 399,097 (215,650) (155,141) 614,747 554,239
Banks and other financial
institutions 17,087 (52,138) (41,429) 69,226 58,516
Real estate 436,237 (440,708) (195,960) 876,946 632,198
Services 173,784 (159,175) (102,456) 332,959 276,241
Other industries 70,001 (22,346) (3,304) 92,347 73,305
Consumer 218,172 (38,671) (18,328) 256,844 236,501
--------------------------------------------------------------------------------------------------
Overseas* 336,090 19,701 27,953 316,388 308,136
--------------------------------------------------------------------------------------------------
Banks and other financial
institutions 6,122 (14,076) (2,932) 20,198 9,055
Commercial and industrial 323,635 37,691 30,675 285,944 292,960
Other 6,331 (3,914) 210 10,245 6,120
--------------------------------------------------------------------------------------------------
Total 1,972,501 (1,185,969) (677,702) 3,158,470 2,650,203
--------------------------------------------------------------------------------------------------
Note:* "Domestic" and "Overseas" are classified by domicile of borrowers.
2. Allowance for Loan Losses
(Consolidated)
(in millions of yen)
----------------------------------------------------------------------------------------------------------------------
As of Increase/ Increase/ As of As of
March 31, (Decrease) (Decrease)March 31, September
30,
2003 (A) (A) - (B) (A) - (C) 2002 (B) 2002 (C)
----------------------------------------------------------------------------------------------------------------------
Allowance for loan losses 1,016,265 (243,397) (106,278) 1,259,662 1,122,543
----------------------------------------------------------------------------------------------------------------------
Formura allowance for loan losses 664,572 36,000 (15,734) 628,572 680,307
---------------------------------------------------------------------------------------------------------------------
Specific allowance for loan losses 339,141 (266,026) (89,331) 605,168 428,472
---------------------------------------------------------------------------------------------------------------------
Allowance for loans to specific foreign borrowers 12,551 (13,370) (1,212) 25,921 13,763
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
Reserve for losses on real estate-collateralized loans sold -- (7,233) (1,687) 7,233 1,687
----------------------------------------------------------------------------------------------------------------------
(Non-Consolidated)
(in millions of yen)
----------------------------------------------------------------------------------------------------------------------
As of Increase/ Increase/ As of As of
March 31, (Decrease) (Decrease) March 31, September 30,
2003 (A) (A) - (B) (A) - (C) 2002 (B) 2002 (C)
----------------------------------------------------------------------------------------------------------------------
Allowance for loan losses 809,374 (226,459) (94,218) 1,035,833 903,592
----------------------------------------------------------------------------------------------------------------------
Formula allowance for loan losses 506,566 49,698 (9,832) 456,867 516,399
---------------------------------------------------------------------------------------------------------------------
Specific allowance for loan losses 290,256 (262,787) (83,173) 553,043 373,429
---------------------------------------------------------------------------------------------------------------------
Allowance for loans to specific foreign borrowers 12,551 (13,370) (1,212) 25,921 13,763
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
Reserve for financial assistance to specific borrowers -- -- (10,336) -- 10,336
----------------------------------------------------------------------------------------------------------------------
Reserve for losses on real estate-collateralized loans sold -- (7,233) (1,687) 7,233 1,687
----------------------------------------------------------------------------------------------------------------------
3. Coverage Ratio against Risk-Monitored Loans
(Consolidated)
(in millions of yen)
-----------------------------------------------------------------------------------------------------------------------
As of Increase/ Increase/ As of As of
March 31, (Decrease) (Decrease)March 31, September
30,
2003 (A) (A) - (B) (A) - (C) 2002 (B) 2002 (C)
-----------------------------------------------------------------------------------------------------------------------
Allowance for loan losses(a) 1,016,265 (243,397) (106,278)1,259,662 1,122,543
-----------------------------------------------------------------------------------------------------------------------
Risk-monitored loans(b) 1,972,501 (1,185,969) (677,702)3,158,470 2,650,203
-----------------------------------------------------------------------------------------------------------------------
Coverage ratio(a)/(b) 51.52% 11.63% 9.16% 39.88% 42.35%
-----------------------------------------------------------------------------------------------------------------------
(Non-Consolidated)
(in millions of yen)
------------------------------------------------------------------------------------------------------------------
As of Increase/ Increase/ As of As of
March 31, (Decrease) (Decrease) March 31, September 30,
2003 (A) (A) - (B) (A) - (C) 2002 (B) 2002 (C)
------------------------------------------------------------------------------------------------------------------
Allowance for loan losses (a) 809,374 (226,459) (94,218) 1,035,833 903,592
------------------------------------------------------------------------------------------------------------------
Risk-monitored loans (b) 1,928,753 (1,124,302) (670,671) 3,053,056 2,599,425
------------------------------------------------------------------------------------------------------------------
Coverage ratio (a)/(b) 41.96% 8.03% 7.20% 33.92% 34.76%
------------------------------------------------------------------------------------------------------------------
4. Disclosed Claims under the Financial Reconstruction Law (the "FRL")
(Non-Consolidated)
(in millions of yen)
-----------------------------------------------------------------------------------------------------------------------
As of Increase/ Increase/ As of As of
March 31, (Decrease) (Decrease) March 31, September 30,
2003 (A) (A) - (B) (A) - (C) 2002 (B) 2002 (C)
-----------------------------------------------------------------------------------------------------------------------
Claims to bankrupt and substantially bankrupt
debtors 136,659 (185,686) (204,931) 322,345 341,590
-----------------------------------------------------------------------------------------------------------------------
Claims under high risk 772,000 (670,060) (213,329) 1,442,061 985,329
-----------------------------------------------------------------------------------------------------------------------
Claims under close observation 1,055,933 (480,355) (416,070) 1,536,289 1,472,004
-----------------------------------------------------------------------------------------------------------------------
Total (1) 1,964,593 (1,336,102) (834,331) 3,300,695 2,798,925
-----------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------
Normal claims 37,400,369 (1,000,002) 516,803 38,400,371 36,883,565
-----------------------------------------------------------------------------------------------------------------------
5. Status of Secured Coverage on Disclosed Claims under the FRL
(Non-Consolidated)
(in millions of yen)
-----------------------------------------------------------------------------------------------------------------------
As of Increase/ Increase/ As of As of
March 31, (Decrease) (Decrease) March 31, September 30,
2003 (A) (A) - (B) (A) - (C) 2002 (B) 2002 (C)
-----------------------------------------------------------------------------------------------------------------------
Secured coverage amount (2) 1,465,684 (988,348) (659,900) 2,454,033 2,125,585
-----------------------------------------------------------------------------------------------------------------------
Allowance for loan losses 498,971 (265,622) (121,853) 764,594 620,824
--------------------------------------------------------------------------------------------------------------------
Reserve for financial support to specific
borrowers
--------------------------------------------------------------------------------------------------------------------
Collateral, guarantees, etc. 966,712 (722,726) (538,047) 1,689,439 1,504,760
-----------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------
Secured coverage ratio (2)/(1) 74.60% 0.25% (1.33)% 74.34% 75.94%
-----------------------------------------------------------------------------------------------------------------------
Secured Coverage of Each Category of Disclosed Claims under the FRL
(Non-Consolidated)
(in millions of yen)
-----------------------------------------------------------------------------------------------------------------------
Category Disclosed Allowance Reserve for Collectable Coverage
amount (A) for loan financial amount by ratio Coverage ratio
losses (B) support to collateralized ((B)+(C))/ ((B)+(C)+(D))
specific and guaranteed ((A)-(D)) / (A)
borrowers (C) loans (D)
-----------------------------------------------------------------------------------------------------------------------
Claims to bankrupt and substantially
bankrupt debtors 136,659 11,460 -- 125,198 100.00% 100.00%
(322,345) (62,345) -- (259,999) (100.00%) (100.00%)
-----------------------------------------------------------------------------------------------------------------------
Claims under high risk 772,000 267,551 -- 364,388 65.63% 81.85%
(1,442,061) (486,938) -- (643,242) (60.95%) (78.37%)
-----------------------------------------------------------------------------------------------------------------------
Claims under close observation 1,055,933 219,959 -- 477,126 38.00% 66.01%
(1,536,289) (215,309) -- (786,196) (28.70%) (65.18%)
-----------------------------------------------------------------------------------------------------------------------
Sub total (1) 1,964,593 498,971 -- 966,712 50.00% 74.60%
(3,300,695) (764,594) -- (1,689,439) (47.45%) (74.34%)
-----------------------------------------------------------------------------------------------------------------------
Normal claims 37,400,369
(38,400,371)
-----------------------------------------------------------------------------------------------------------------------
Total (2) 39,364,962
(41,701,067)
-----------------------------------------------------------------------------------------------------------------------
Sub total (1) / Total (2) 4.99%
(7.91%)
-----------------------------------------------------------------------------------------------------------------------
Note: The upper figures are as of March 31, 2003. The lower figures with bracket are as of
March 31, 2002.
6. Progress in the Disposal of Problem Assets (Non-Consolidated)
(excluding claims under close observation)
(1) Assets categorized as problem assets as of September 30, 2000 based
on the FRL (in billions of yen)
--------------------------------------------------------------------------------------------------------------------
As of As of As of As of As of As of
September March 31, September 30, March 31, September March 31, (b)-(a)
30, 30,
2000 2001 2001 2002 2002 (a) 2003 (b)
--------------------------------------------------------------------------------------------------------------------
Claims to bankrupt and substantially
bankrupt debtors 274.3 144.3 150.6 144.9 210.9 38.7 (172.1)
--------------------------------------------------------------------------------------------------------------------
Claims under high risk 1,053.5 944.9 758.4 538.4 193.6 13.5 (180.0)
--------------------------------------------------------------------------------------------------------------------
Total 1,327.8 1,089.2 909.0 683.4 404.6 52.3 (352.2)
--------------------------------------------------------------------------------------------------------------------
(A) (B)
Progress in the disposal of problem assets (in billions
of yen)
----------------------------------------------------------
Second half of fiscal
2002
----------------------------------------------------------
Disposition by borrowers'
liquidation 120.3
-----------------------------------------------
Re-constructive disposition 15.2
-----------------------------------------------
Improvements in financial status due to
re-constructive disposition --
-----------------------------------------------
Loan sales to secondary market 68.4
-----------------------------------------------
Charge-off 11.9
-----------------------------------------------
Other 136.2
-----------------------------------------------
Collection of claims 20.6
---------------------------------------------
Improvements in financial status 115.6
-----------------------------------------------
Total 352.2 (B)
-----------------------------------------------
Above (A) includes the following figures which facilitates the final disposal of problem loans.
(in billions of yen)
Second half of fiscal
2002
-----------------------------------------------
Legal liquidation 18.4
-----------------------------------------------
Quasi-legal liquidation --
-----------------------------------------------
Split-off of problem loans --
-----------------------------------------------
Partial charge-off of smaller
balance loans 6.2
-----------------------------------------------
Entrust through the managed trust
method to the Resolution and
Collection Corporation --
-----------------------------------------------
Total 24.6
-----------------------------------------------
(2) Assets newly categorized as problem assets during second half of fiscal 2000 based on the FRL (in billions of yen)
-----------------------------------------------------------------------------------------------------------------------
As of As of As of As of As of
March 31, September March 31, September March 31, (b)-(a)
30, 30,
2001 2001 2002 2002 (a) 2003 (b)
--------------------------------------------------------------------------------------------------------
Claims to bankrupt and substantially
bankrupt debtors 106.8 98.3 94.3 44.0 24.9 (19.1)
--------------------------------------------------------------------------------------------------------
Claims under high risk 635.3 575.4 447.4 269.3 127.8 (141.4)
--------------------------------------------------------------------------------------------------------
Total 742.1 673.7 541.8 313.3 152.7 (160.6)
----------------------------------------------------------------------------------------------------------
(C) (D)
Progress in the disposal of problem assets (in billions
of yen)
-------------------------------------------------------
Second half of fiscal
2002
-------------------------------------------------------
Disposition by borrowers'
liquidation 10.5
-----------------------------------------------
Re-constructive disposition 3.2
-----------------------------------------------
Improvements in financial status due
to?? re-constructive disposition 9.1
-----------------------------------------------
Loan sales to secondary market 46.0
-----------------------------------------------
Charge-off 29.4
-----------------------------------------------
Other 62.2
-----------------------------------------------
Collection of claims 48.0
---------------------------------------------
Improvements in financial status 14.1
-----------------------------------------------
Total 160.6 (D)
-----------------------------------------------
Above (C) includes the following figures which facilitates the final disposal of problem loans.
(in billions of yen)
-------------------------------------------------------------
Second half of fiscal
2002
-------------------------------------------------------------
Legal liquidation 1.6
-------------------------------------------------------------
Quasi-legal liquidation --
-------------------------------------------------------------
Split-off of problem loans --
-------------------------------------------------------------
Partial charge-off of smaller
balance loans 6.6
-------------------------------------------------------------
Entrust through the managed trust method
to the Resolution and Collection Corporation --
-------------------------------------------------------------
Total 8.2
-------------------------------------------------------------
(3)Assets newly categorized as problem assets during first half of fiscal 2001 based on the FRL (in billions of yen)
---------------------------------------------------------------------------------------------------------------------
As of As of As of As of
September March 31, September 30, March 31, (b)-(a)
30,
2001 2002 2002 (a) 2003 (b)
--------------------------------------------------------------------------------------------------------------------
Claims to bankrupt and substantially bankrupt
debtors 27.1 25.6 26.4 15.6 (10.8)
--------------------------------------------------------------------------------------------------------------------
Claims under high risk 257.0 140.1 79.9 31.3 (48.6)
--------------------------------------------------------------------------------------------------------------------
Total 284.2 165.8 106.3 46.9 (59.4)
--------------------------------------------------------------------------------------------------------------------
(E) (F)
Progress in the disposal of problem assets (in billions of yen)
-----------------------------------------------------------------------
Second half of fiscal
2002
-----------------------------------------------------------------------
Disposition by borrowers' liquidation 0.7
----------------------------------------------------------
Re-constructive disposition 10.6
----------------------------------------------------------
Improvements in financial status due to
re-constructive disposition --
----------------------------------------------------------
Loan sales to secondary market 21.4
----------------------------------------------------------
Charge-off 8.7
----------------------------------------------------------
Other 17.7
----------------------------------------------------------
Collection of claims 15.0
-------------------------------------------------------
Improvements in financial status 2.6
----------------------------------------------------------
Total 59.4 (F)
----------------------------------------------------------
Above (E) includes the following figures which facilitates the final disposal of problem loans.
(in billions of yen)
-----------------------------------------------------------------------
Second half of fiscal
2002
-----------------------------------------------------------------------
Legal liquidation 4.0
----------------------------------------------------------
Quasi-legal liquidation --
----------------------------------------------------------
Split-off of problem loans --
----------------------------------------------------------
Partial charge-off of smaller balance loans 10.3
----------------------------------------------------------
Entrust through the managed trust method
to the Resolution and Collection Corporation --
----------------------------------------------------------
Total 14.4
----------------------------------------------------------
(4) Assets newly categorized as problem assets during second half of fiscal 2001 based on the FRL
(in billions of yen)
----------------------------------------------------------------------------------------------------
As of As of As of
March 31, September 30, March 31, (b)-(a)
2002 2002 (a) 2003 (b)
----------------------------------------------------------------------------------------------------
Claims to bankrupt and substantially bankrupt
debtors 57.3 35.4 13.1 (22.3)
----------------------------------------------------------------------------------------------------
Claims under high risk 315.9 162.4 94.0 (68.4)
----------------------------------------------------------------------------------------------------
Total 373.2 197.9 107.1 (90.8)
----------------------------------------------------------------------------------------------------
(G) (H)
Progress in the disposal of problem assets (in billions of yen)
-----------------------------------------------------------------------
Second half of fiscal
2002
-----------------------------------------------------------------------
Disposition by borrowers' liquidation 1.3
----------------------------------------------------------
Re-constructive disposition 13.0
----------------------------------------------------------
Improvements in financial status due to
re-constructive disposition --
----------------------------------------------------------
Loan sales to secondary market 33.0
----------------------------------------------------------
Charge-off 12.5
----------------------------------------------------------
Other 30.8
----------------------------------------------------------
Collection of claims 25.9
-------------------------------------------------------
Improvements in financial status 4.8
----------------------------------------------------------
Total 90.8 (H)
----------------------------------------------------------
Above (G) includes the following figures which facilitates the final disposal of problem loans.
(in billions of yen)
-----------------------------------------------------------------------
Second half of fiscal
2002
-----------------------------------------------------------------------
Legal liquidation 2.1
----------------------------------------------------------
Quasi-legal liquidation --
----------------------------------------------------------
Split-off of problem loans --
----------------------------------------------------------
Partial charge-off of smaller balance loans 8.4
----------------------------------------------------------
Entrust through the managed trust method
to the Resolution and Collection Corporation --
----------------------------------------------------------
Total 10.5
----------------------------------------------------------
(MORE TO FOLLOW)
Short Name: Mitsubishi Tokyo Fin
Category Code: FR
Sequence Number: 00005197
Time of Receipt (offset from UTC): 20030526T085822+0100
--30--ac/uk*
CONTACT: Mitsubishi Tokyo Financial Group Inc
KEYWORD: JAPAN UNITED KINGDOM INTERNATIONAL ASIA PACIFIC EUROPE
INDUSTRY KEYWORD: BANKING
SOURCE: Mitsubishi Tokyo Financial Group Inc
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