Non-Consolidated Summary Report

Transcription

1 Non-Consolidated Summary Report <under Japanese GAAP> for the Fiscal Year Ended March 31, 2002 Date: May 24, 2002 Company name (code number): Mitsubishi Tokyo Financial Group, Inc. (8306) (URL Stock Exchange Listings: Tokyo, Osaka, New York, London Headquareters: For inquiry: Tokyo Keiichi Riko, Chief Manager - Financial Policy Division (Phone) Date of resolution of Board of Directors with respect to the non-consolidated financial statements: May 24, 2002 Date of the Ordinary General Meeting of Shareholders: June 27, 2002 Interim dividends policy: Yes Unit share system: No 1. Non-consolidated financial data for the year ended March 31, 2002 (1) Operating results (in millions except per share data and percentages) For the year ended March 31, Operating income 72,544 - (change from corresponding period of the previous year) - - Operating profit 68,378 - (change from corresponding period of the previous year) - - Ordinary profit 68,114 - (change from corresponding period of the previous year) - - Net income 67,871 - (change from corresponding period of the previous year) - - Net income per common share 10, Net income per common and common equivalent share Net income as a percentage of shareholders' equity Ordinary profit as a percentage of total liabilities and shareholders' equity Ordinary profit as a percentage of ordinary income % % % - Notes: 1. Average number of shares issued and outstanding for the year ended: March 31, 2002 : (common stock) 5,742,295 shares (preferred stock-class 1) 81,400 shares (preferred stock-class 2) 100,000 shares 2. Changes in accounting policy : No

2 (2) Payment of dividends Interim dividends per share Common stock (in millions except per share data and percentages) For the year ended March 31, Preferred stockclass 1 Preferred stockclass 2 Common stock Preferred stockclass 1 Preferred stockclass 2 Term-end dividends per share 6,000 82,500 16,200 Total dividends per share paid for the fiscal year 6,000 82,500 16,200 Total dividends for the fiscal year 34,452 6,715 1,620 Total dividends for the fiscal year as a percentage of net income Total dividends for the fiscal year as a percentage of shareholders' equity 57.9% 1.0% (3) Balance sheet highlights (in millions except per share data and percentages) As of March 31, Total assets 4,301,963 Shareholders' equity 4,052,733 Shareholders' equity as a percentage of total liabilities and shareholders' equity 94.2% Shareholders' equity per common share 628, Notes: Number of shares issued and outstanding as of: March 31, 2002 : (common stock) 5,742,093 shares (preferred stock-class 1) 81,400 shares (preferred stock-class 2) 100,000 shares Number of treasury stocks outstanding as of: March 31, 2002 : 374 shares 2. Earning projections for the fiscal year ending March 31, 2003 (in millions except per share data) For the six months ending For the year ending September 30, 2002 March 31, 2003 Operating income 24,000 48,000 Ordinary profit 22,000 44,000 Net income 22,000 44,000 Dividend per share: Common stock 3,000 6,000 Preferred stock-class 1 41,250 82,500 Preferred stock-class 2 8,100 16,200 Net income per common share 6,211.06

3 (Reference) Formulas for computing ratios for the fiscal year ended March 31, 2002 are as follows. Net income per common share Net income - Total dividends for the fiscal year on preferred stock Average number of common stock for the fiscal year* Net income per common and common equivalent share Net income - Total dividends for the fiscal year on preferred stock + Adjustments in net income Average number of common stock for the fiscal year* + Number of common equivalent share Net income as a percentage of shareholders' equity Net income - Total dividends for the fiscal year on preferred stock { [Shareholders' equity at the beginning of the fiscal year - Number of preferred stock at the beginning of the fiscal year Issue price] + [Shareholders' equity at fiscal year end - Number of preferred stock at fiscal year end Issue price] } / Total dividends for the fiscal year as a percentage of net income Total dividends for the fiscal year on common stock Net income - Total dividends for the fiscal year on preferred stock 100 Total dividends for the fiscal year as a percentage of shareholders' equity Total dividends for the fiscal year on common stock Shareholders' equity at fiscal year end - Number of preferred stock at fiscal year end Issue price 100 Shareholders' equity per common share Shareholders' equity at fiscal year end - Number of preferred stock at fiscal year end Issue price Number of common stock at fiscal year end* Formula for computing projected earning ratio for the fiscal year ending March 31, 2003 is as follows. Projected net income per common share Projected net income - Projected total dividends on preferred stock Number of common stock at fiscal year end* * excluding treasury stock

4 Non-Consolidated Balance Sheet Mitsubishi Tokyo Financial Group, Inc. As of March 31, 2002 (in millions) ( % ) Assets: Current assets: Cash and deposits with banks 39,212 Deferred tax assets 50 Other 16,037 Total current assets 55, Fixed assets: Premises and equipment: Leasehold improvements 261 Equipment and furniture 177 Total premises and equipment 439 Intangible assets: Trademarks 56 Computer softwear 357 Other 2 Total intangible assets 415 Investments and other assets: Investments in subsidiaries 4,000,070 Convertible bonds to subsidiaries 243,924 Other 436 Total investments and other assets 4,244,431 Total fixed assets 4,245, Deferred charge: Organization cost 1,375 Total deferred charge 1, Total assets 4,301, Liabilities: Current liabilities: Accounts payable 250 Accrued expenses 2,772 Accrued income taxes 109 Other 59 Reserve for employees' bonuses 75 Total current liabilities 3, Long -term liabilities: Convertible bonds 243,924 Deferred tax liabilities 2,038 Total long-term liabilities 245, Total liabilities 249, Shareholders' equity: Capital stock 1,146, Capital surplus 2,838, Retained earnings: Unappropriated 67, Total 4,053, Less treasury stock (331) ( 0.0 ) Total shareholders' equity 4,052, Total liabilities and shareholders' equity 4,301, See Notes to Non-Consolidated Financial Statements. Free distribution of common stock: Distribution rate: One share for each twenty shares held Number of shares issued: Nil Amount transferred to paid-up capital: \ Nil

5 Non-Consolidated Statement of Income For the fiscal year ended Mitsubishi Tokyo Financial Group, Inc. March 31,2002 (in millions) ( % ) Operating income: Dividends on investments in subsidiaries Management fees from subsidiaries 67,577 4,967 Total operating income 72, Operating expenses: General and administrative expenses 4,166 Total operating expenses 4, Operating profit: 68, Non-operating income: Interest income on deposits Interest income on securities Other 7 7, Total non-operating income 7, Non-operating expenses: Interest expenses on short-term bank loans Interest expenses on convertible bonds Amortization of organization cost Other 27 7, Total non-operating expenses 7, Ordinary profit 68, Income before income taxes 68, Income taxes-current 306 Income taxes-deferred (63) Total income taxes Net income 67, Unappropriated retained earnings at fiscal year end 67,871 See Notes to Non-Consolidated Financial Statements.

6 Proposed Appropriations of Retained Earnings Mitsubishi Tokyo Financial Group, Inc. For the fiscal year ended March 31,2002 (in millions) Unappropriated retained earnings at fiscal year end 67,871 Appropriations: Cash dividends on preferred stock-class 1 ( \82,500 per share ) 6,715 Cash dividends on preferred stock-class 2 ( \16,200 per share ) 1,620 Cash dividends on common stock ( \6,000 per share ) 34,452 Total 42,788 Unappropriated retained earnings to be carried forward 25,083

7 Notes to Non-Consolidated Financial Statements The accompanying Non-Consolidated Financial Statements are compiled as required by the Securities and Exchange Law of Japan and in conformity with accounting principles and practices generally accepted in Japan, which are different in certain respects as compared to the application and disclosure requirements of International Accounting Standards. The Non-Consolidated Financial Statements are not intended to present the financial position and results of operation in accordance with accounting principles and practices generally accepted in countries and jurisdictions other than Japan. For the convenience of readers, the presentation is modified in certain respects from the original Japanese report. Summary of significant accounting policies 1. Investments Investments in subsidiaries and non-marketable available-for-sale securities are stated at cost determinted by the movingaverage method. 2. Depreciation for fixed assets Depreciation for premises and equipment is computed using the declining-balance method at rates principally based on the following estimated useful lives: Leasehold improvements 3 years to 50 years Equipment and furniture 3 years to 20 years Amortization for intangible assets is computed using the straight-line method over estimated useful lives. Costs of computer software developed or obtained for internal use are deferred and amortized using the straight-line method over the estimated useful lives of 5 years. 3. Deferred charge Organization cost is deferred and amortized using the straight-line method over 5 years pursuant to the Commercial Code of Japan. 4. Reserve A reserve for employees bonuses is provided for the payment of employees bonuses based on estimated amounts of the future payments attributed to the current fiscal year. 5. Consumption Taxes The National Consumption Tax and the Local Consumption Tax are excluded from transaction amounts. Notes related to the Non-Consolidated Balance Sheet are as follows : 1. Accumulated depreciation on premises and equipment totals 106 million. 2. Due to subsidiary Convertible bonds 243,924 million 3. Mitsubishi Tokyo Financial Group, Inc. ( MTFG ) guarantees Exchangeable Guaranteed Notes of 266,417 million issued by MBL International Finance (Bermuda) Trust, which is a subsidiary of MTFG. (The Notes are exchangeable for common shares of MTFG.) 4. Aggregate number of shares authorized to be issued Common stock 22,000,000 shares Preferred stock 421,400 shares Aggregate number of shares issued Common stock 5,742,467 shares Preferred stock 181,400 shares

8 Notes related to the Non-Consolidated Statement of Income are as follows: 1. Operating income on transactions with subsidiaries Dividends on investments in subsidiaries 67,577 million Fees and Commissions received from subsidiaries 4,967 million 2. Non-operating income on transactions with subsidiary Interest on securities 7,137 million 3. Non-operating expenses on transactions with subsidiary Interest on convertible bonds 7,137 million 4. Principal items in general and administrative expenses are as follows: Salaries and employee benefits 1,204 million Depreciation expenses 188 million Rental expenses 333 million Advertisement expenses 562 million Miscellaneous taxes 321 million Outsourcing expenses 549 million A note related to securities is as follows: Fair value is not really determined for Investments in subsidiaries. Notes related to income taxes are as follows: 1. The tax effects of significant temporary differences which resulted in deferred tax assets and liabilities are as follows: Deferred tax assets: Nondeductible expenses as Accrued enterprise taxes 27 million Excess of deductible amount as Reserve for employees bonuses 20 million Other 15 million Total 63 million Deferred tax liabilities: Investments in subsidiaries 2,051 million Total 2,051 million Net deferred tax liabilities 1,987 million 2. A reconciliation between the normal effective statutory tax rate and the actual effective tax rate is as follows: Normal effective statutory tax rate 42.05% (Reconciliation) Dividends and others exempted for income tax purposes (41.70%) Other 0.01% Actual effective tax rate 0.36%

9 Notes related to per share information are as follows: Shareholders equity per common share 628, Net income per common share 10, Net income per common and common equivalent share 1. Formula for computing Shareholders equity per common share: Shareholders' equity at fiscal year end - Number of preferred stocks outstanding at fiscal year end Issue price Number of common stocks outstanding at fiscal year end 2. Formula for computing Net income per common share: Net income - Total dividends on preferred stocks for the fiscal year Average number of common stocks outstanding for the fiscal year 3. Net income per common and common equivalent share is not disclosed because it is anti-dilutive.

10 Changes of Directors 1.Changes of Representative Directors There is no applicable matter. 2.Other Changes (1)Candidate of Director(As of June 27,2002) Kunio Ishihara (Note)Mr. Kunio Ishihara is the candidate of outside director to comply with the requirement under Item 7-2,Paragraph 2, Article 188 of the Commercial Code of Japan. (2)Directors who are scheduled to resign (As of June 27,2002) Masaharu Hamakawa Koukei Higuchi Director Director

11 Selected Financial Information under Japanese GAAP For the Fiscal Year Ended March 31,2002

12 Mitsubishi Tokyo Financial Group, Inc. [Contents] 1 Consolidated Financial Highlights under Japanese GAAP for the Fiscal Year Ended March 31, Financial Results [Consolidated] 1 2. Net Gains (Losses) on Investment Securities [Consolidated] 2 3. Valuation Differences on Securities [Consolidated] 2 4. Risk-Adjusted Capital Ratio Based on the Standards of the BIS [Consolidated] 3 5. Return on Equity [Consolidated] 3 2 Loan Portfolio 1. Risk-Monitored Loans [Consolidated], [Trust] 4 2. Allowance for Loan Losses [Consolidated], [Trust] 6 3. Coverage Ratio against Risk-Monitored Loans [Consolidated] 6 4. Disclosed Claims under the Financial Reconstruction Law("FRL") [Total of the 2 Banks*] 7 5. Status of Secured Coverage on Disclosed Claims under the FRL [Total of the 2 Banks*] 7 6. Progress in the Disposal of Problem Assets [Total of the 2 Banks*] 8 7. Classification of Loans by Type of Industry [Total of the 2 Banks*] Foreign Loans [Total of the 2 Banks*] 11 3 Other 1. Number of Employees [Total of the 2 Banks*] Number of Offices [Total of the 2 Banks*] Employees' Retirement Benefits [Consolidated] Earning Projections for the Fiscal Year ending March 31, 2003 [Consolidated] 14 [Non-Consolidated] 14 Notes: * "Total of the 2 Banks" stands for the aggregated non-consolidated figures of The Bank of Tokyo-Mitsubishi, Ltd. The Mitsubishi Trust and Banking Corporation. In addition, figures of The Mitsubishi Trust and Banking Corpora as of March 31, 2001 and September 30, 2000 include the figures of Nippon Trust Bank Limited.

13 1 Consolidated Financial Highlights under Japanese GAAP for the Fiscal Year Ended March 31, 2002 Mitsubishi Tokyo Financial Group, Inc. 1.Financial Results For the year ended Increase/ For the year ended March 31, 2002 (A) (Decrease) March 31, 2001 (B) * (A) - (B) Gross profits 1,711, ,484 1,569,162 Net interest income 1,108, , ,055 Trust fees 122,779 9, ,451 Credit costs for trust accounts (1) (19,319) 23,666 (42,985) Net fees and commissions 338,398 33, ,135 Net trading profits 54,588 (44,915) 99,503 Net other business income 87,845 (27,170) 115,016 General and administrative expenses 966,851 65, ,615 Net business profits before credit costs for trust accounts and provision for formula allowance for loan losses Provision for formula allowance for loan losses(2) 764,114 33,874 53,581 (125,368) 710, ,242 Net business profits** 710, , ,304 Net non-recurring gains (losses) (1,000,266) (377,672) (622,594) Credit related costs (3) (721,245) (77,112) (644,132) Losses on loan charge-offs (283,697) (46,195) (237,502) Provision for specific allowance for loan losses (346,146) 22,646 (368,792) Losses on real estate-collateralized loans sold to the CCPC*** (8,491) (3,795) (4,696) Provision for allowance for loans to specific foreign borrowers (11,472) (11,373) (98) Other credit related costs (71,437) (38,395) (33,042) Net gains (losses) on equity securities (224,850) (309,202) 84,351 Losses on write down of equity securities (144,668) (28,085) (116,583) Equity in earnings (loss) of affiliates (10,612) 9,905 (20,517) Other (43,557) (1,262) (42,295) Ordinary loss (289,345) (175,055) (114,289) Net special gains (losses) (7,738) (37,843) 30,104 Loss before income taxes and others (297,084) (212,899) (84,185) Income taxes-current 34,818 (61,530) 96,349 Income taxes-deferred (198,311) (124,065) (74,246) Minority interest 18, ,290 Net loss (152,316) (27,738) (124,578) Notes: * The figures for the year ended March 31, 2001 are prepared by aggregating the consolidated figures of The Bank of Tokyo-Mitsubishi, Ltd. and The Mitsubishi Trust and Banking Corporation. ** Net business profits = The 2 Banks' non-consolidated net business profits + Other consolidated entities' gross profits - Other consolidated entities' general and administrative expenses - Other consolidated entities' provision for formula allowance for loan losses - Intercompany transactions. *** CCPC stands for Cooperative Credit Purchasing Company, Limited. (Reference) Total credit costs (1)+(2)+(3) 774,439 (71,921) 846,361 Number of consolidated subsidiaries Number of affiliated companies accounted for by the equity method 37 (3)

14 2. Net Gains (Losses) on Investment Securities and The Mitsubishi Trust and Banking Corporation. 3. Valuation Differences on Securities (1) Valuation method of securities Mitsubishi Tokyo Financial Group, Inc. For the year ended Increase/ For the year ended March 31, 2002 (A) (Decrease) March 31, 2001 (B)* (A) - (B) Net gains (losses) on debt securities Gains on sales Losses on sales Write down 7, , ,583 6,352 (29,569) (1,857) 22,177 5,534 37, ,679 82, Note:* The figures for the year ended March 31, 2001 are prepared by aggregating the consolidated figures of The Bank of Tokyo-Mitsubishi, Ltd and The Mitsubishi Trust and Banking Corporation. For the year ended Increase/ For the year ended March 31, 2002 (A) (Decrease) March 31, 2001 (B)* (A) - (B) Net gains (losses) on equity securities Gains on sales Losses on sales Write down (224,850) 136, , ,668 (309,202) (101,373) 179,744 28,085 84, ,225 37, ,583 Note:* The figures for the year ended March 31, 2001 are prepared by aggregating the consolidated figures of The Bank of Tokyo-Mitsubishi, Ltd Trading securities Debt securities being held to maturity Securities available for sale Market value (valuation differences are recorded as profits or loses) Amortized cost 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 Valuation differences As of March 31, 2002 As of March 31, 2001* Valuation differences (A) (A) - (B) Gains Losses (B) Gains Losses Debt securities being held to maturity 13,527 (3,420) 13, ,948 17, Securities available for sale 138,842 (609,799) 743, , ,642 1,205, ,396 Domestic equity securities 71,454 (488,644) 551, , , , ,266 Domestic bonds 79,702 (31,648) 83,691 3, , ,412 2,062 Other (12,314) (89,506) 108, ,565 77, ,259 48,067 Total 152,370 (613,220) 757, , ,590 1,222, ,492 Domestic equity securities 71,454 (488,644) 551, , , , ,266 Domestic bonds 88,574 (33,980) 92,647 4, , ,618 2,063 Other (7,659) (90,596) 113, ,753 82, ,099 48,162 Note:* The figures as of March 31, 2001 are prepared by aggregating the consolidated figures of The Bank of Tokyo-Mitsubishi, Ltd. and The Mitsubishi Trust and Banking Corporation

15 Mitsubishi Tokyo Financial Group, Inc. 4. Risk-Adjusted Capital Ratio Based on the Standards of the BIS (in billions of yen) 2002 (A) (A) - (B) (A) - (C) 2001 (B)* 2001 (C) (Preliminary basis) (1) Risk-adjusted capital ratio 10.30% 0.15% (0.00)% 10.15% 10.31% (2) Tier I capital 3,181.1 (158.0) (12.1) 3, ,193.3 (3) Tier II capital includable as qualifying capital 3,145.3 (5.0) , ,050.1 i) The amount of unrealized gains on investment securities, includable as 61.2 (276.1) qualifying capital ii) The amount of land revaluation excess includable as qualifying capital (7.9) (7.1) iii) Subordinated debt 2,294.0 (85.5) (74.6) 2, ,368.6 (4) Deductions from total qualifying capital (15.9) (5) Total qualifying capital (2)+(3)-(4) 6,220.5 (147.2) , ,139.2 (6) Risk-adjusted assets 60,335.8 (2,379.8) , ,542.7 Note: * The figures as of March 31, 2001 are prepared by aggregating the consolidated figures of The Bank of Tokyo-Mitsubishi, Ltd. and The Mitsubishi Trust and Banking Corporation. 5. Return on Equity (%) For the year ended Increase/ For the year ended March 31,2002(A) (Decrease) March 31,2001(B)* (A) - (B) ROE ** (5.54) (1.29) (4.24) Notes: * The figures for the year ended March 31, 2001 are prepared by aggregating the consolidated figures of The Bank of Tokyo-Mitsubishi, Ltd. and The Mitsubishi Trust and Banking Corporation. ** ROE is computed as follows: (Net income-dividends on preferred stocks) {(Shareholders' equity at beginning of period - Number of preferred stocks at beginning of period Issue price - Land revaluation 100 excess at beginning of period - Unrealized gains on securities available for sale at beginning of period) + (Shareholders' equity at end of period - Number of preferred stocks at end of period Issue price - Land revaluation excess at end of period - Unrealized gains on securities available for sale at end of period)} / 2-3 -

16 2 Loan Portfolio Mitsubishi Tokyo Financial Group, Inc. 1. Risk-Monitored Loans (Nonaccrual loans,accruing loans contractually past due 3 months or more and restructured loans) 2002 (A) (A) - (B) (A) - (C) 2001 (B)* 2001 (C) Loans to customers in bankruptcy 147,955 (13,640) 6, , ,817 Past due loans 1,997,510 (155,771) (220,445) 2,153,282 2,217,956 Accruing loans contractually past due 3 months or more 23,039 (4,356) 4,579 27,396 18,460 Restructured loans 1,878,111 (47,510) (143,500) 1,925,622 2,021,612 Total 4,046,618 (221,278) (353,229) 4,267,896 4,399,847 Loans and bills discounted 49,062,795 1,178,435 2,209,471 47,884,359 46,853,324 Note:* The figures as of March 31, 2001 are prepared by aggregating the consolidated figures of The Bank of Tokyo-Mitsubishi, Ltd. and The Mitsubishi Trust and Banking Corporation. Percentage of total loans and bills discounted Loans to customers in bankruptcy 0.30% (0.03)% (0.00)% 0.33% 0.30% Past due loans 4.07% (0.42)% (0.66)% 4.49% 4.73% Accruing loans contractually past due 3 months or more 0.04% (0.01)% 0.00% 0.05% 0.03% Restructured loans 3.82% (0.19)% (0.48)% 4.02% 4.31% Total 8.24% (0.66)% (1.14)% 8.91% 9.39% [Trust account] 2002 (A) (A) - (B) (A) - (C) 2001 (B) 2001 (C) Loans to customers in bankruptcy 8,419 (2,545) ,964 7,589 Past due loans 12,016 (10,367) (6,254) 22,383 18,270 Accruing loans contractually past due 3 months or more 1,100 (661) 25 1,761 1,074 Restructured loans 44,237 4,275 (646) 39,962 44,884 Total 65,773 (9,299) (6,045) 75,072 71,818 Loans and bills discounted 1,123,669 (129,953) 34,990 1,253,623 1,088,

17 Mitsubishi Tokyo Financial Group, Inc. Classification of risk-monitored Loans Classification by geographic area 2002 (A) (A) - (B) (A) - (C) 2001 (B)** 2001 (C) Domestic* 3,703,990 (257,510) (389,897) 3,961,500 4,093,887 Overseas* 342,628 36,231 36, , ,959 Asia 126,553 (17,889) 1, , ,428 Indonesia 41,530 (8,901) (4,262) 50,431 45,793 Thailand 40,465 2,222 12,339 38,243 28,126 Hong Kong 11,490 (12,496) (8,467) 23,986 19,957 Other 33,067 1,286 1,515 31,781 31,552 Russia 1,688 (566) (119) 2,255 1,807 United States of America 151,454 26,702 16, , ,282 Other 62,931 27,985 19,490 34,946 43,440 Total 4,046,618 (221,278) (353,228) 4,267,896 4,399,847 Notes:* "Domestic" and "Overseas" are classified by domicile of borrowers. ** The figures as of March 31, 2001 are prepared by aggregating the consolidated figures of The Bank of Tokyo-Mitsubishi, Ltd. and The Mitsubishi Trust and Banking Corporation. Classification by type of industry of borrowers 2002 (A) (A) - (B) (A) - (C) 2001 (B)** 2001 (C) Domestic* 3,703,990 (257,510) (389,897) 3,961,500 4,093,887 Manufacturing 446,511 50,952 (1,636) 395, ,148 Construction 394,220 41,505 14, , ,462 Wholesale, Retail and Restaurant 658,660 (49,480) (59,108) 708, ,768 Banks and other financial institutions 93,792 (125,787) (50,034) 219, ,827 Real estate 1,261,108 (182,141) (208,505) 1,443,250 1,469,614 Services 446,157 (36,686) (86,240) 482, ,398 Other industries 127,651 22,782 2, , ,821 Consumer 275,885 21,343 (1,958) 254, ,844 Overseas* 342,628 36,231 36, , ,959 Banks and other financial institutions 25,660 9,621 14,319 16,039 11,341 Commercial and industrial 306,429 49,881 25, , ,493 Other 10,538 (23,270) (3,586) 33,809 14,125 Total 4,046,618 (221,278) (353,228) 4,267,896 4,399,847 Notes:* "Domestic" and "Overseas" are classified by domicile of borrowers. ** The figures as of March 31, 2001 are prepared by aggregating the consolidated figures of The Bank of Tokyo-Mitsubishi, Ltd. and The Mitsubishi Trust and Banking Corporation

18 Mitsubishi Tokyo Financial Group, Inc. 2. Allowance for Loan Losses 2002 (A) (A) - (B) (A) - (C) 2001 (B)* 2001 (C) Allowance for loan losses 1,659,640 75,991 3,770 1,583,649 1,655,869 Formura allowance for loan losses 774,550 43,988 20, , ,509 Specific allowance for loan losses 857,487 20,530 (32,079) 836, ,566 Note:* Allowance for loans to specific foreign borrowers 27,602 11,472 15,808 16,130 11,793 Reserve for losses on real estatecollateralized loans sold 7,575 (35,042) (22,653) 42,618 30,229 The figures as of March 31, 2001 are prepared by aggregating the consolidated figures of The Bank of Tokyo-Mitsubishi, Ltd. and The Mitsubishi Trust and Banking Corporation. [Trust account] 2002 (A) (A) - (B) (A) - (C) 2001 (B) 2001 (C) Special internal reserves 13,104 (4,809) (2,787) 17,913 15,891 Allowance for bad debts 893 (32) Coverage Ratio against Risk-Monitored Loans 2002 (A) (A) - (B) (A) - (C) 2001 (B)* 2001 (C) Allowance for loan losses(i) 1,659,640 75,991 3,770 1,583,649 1,655,869 Risk-monitored loans(ii) 4,046,618 (221,278) (353,229) 4,267,896 4,399,847 Coverage ratio(i)/(ii) 41.01% 3.90% 3.37% 37.10% 37.63% Note:* The figures as of March 31, 2001 are prepared by aggregating the consolidated figures of The Bank of Tokyo-Mitsubishi, Ltd. and The Mitsubishi Trust and Banking Corporation

19 Mitsubishi Tokyo Financial Group, Inc. 4. Disclosed Claims under the Financial Reconstruction Law ("FRL") [Banking and Trust accounts: Total of the 2 Banks] 2002 (A) (A) - (B) (A) - (C) 2001 (B) 2001(C) Claims to bankrupt and substantially bankrupt debtors 419,080 20,482 10, , ,171 Claims under high risk 1,933,561 (235,924) (237,917) 2,169,485 2,171,479 Claims under close observation 1,916,838 (47,181) (142,512) 1,964,020 2,059,350 Total (1) 4,269,481 (262,623) (369,520) 4,532,104 4,639,001 Normal claims 48,131,933 85,524 2,250,220 48,046,409 45,881, Status of Secured Coverage on Disclosed Claims under the FRL [Banking and Trust accounts: Total of the 2 Banks] 2002 (A) (A) - (B) (A) - (C) 2001 (B) 2001(C) Secured coverage amount (2) 3,242,054 78,993 (174,134) 3,163,060 3,416,188 Allowance for loan losses 1,059,240 74,657 (7,435) 984,583 1,066,676 Reserve for financial support to specific borrowers (11,734) ,172 Collateral, guarantees, etc. 2,182,375 4,208 (154,964) 2,178,167 2,337,340 Secured coverage ratio (2)/(1) 75.93% 6.14% 2.29% 69.79% 73.64% Secured Coverage of each category of Disclosed Claims under the FRL [Banking and Trust accounts: Total of the 2 Banks] Claims to bankrupt and substantially bankrupt debtors Claims under high risk Claims under close observation Sub total (1) Normal claims Total (2) Note: Category Sub total (1) / Total (2) Disclosed amount(a) Allowance for loan losses(b) Collectable Reserve for amount by financial support collateralized to specific and guaranteed borrowers(c) loans(d) Coverage ratio [(B)+(C)] / [(A)- (D)] Coverage ratio [(B)+(C)+(D)] / (A) 419,080 66, , % 99.99% [398,598] [40,152] - [358,366] [99.80%] [99.98%] 1,933, , , % 81.94% [2,169,485] [742,188] [309] [1,017,681] [64.46%] [81.13%] 1,916, , , % 64.61% [1,964,020] [202,242] - [802,119] [17.40%] [51.13%] 4,269,481 1,059, ,182, % 75.93% [4,532,104] [984,583] [309] [2,178,167] [41.84%] [69.79%] 48,131,933 [48,046,409] 52,401,415 [52,578,513] 8.14% [8.61%] The upper figures are as of March 31, The lower figures with bracket are as of March 31,

20 6. Progress in the Disposal of Problem Assets [Banking and Trust accounts: Total of the 2 Banks] (excluding claims under close observation) Mitsubishi Tokyo Financial Group, Inc. (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 September 30, 2000 March 31, 2001 September 30, 2001(a) March 31, 2002(b) (b) - (a) Claims to bankrupt and substantially bankrupt debtors (60.1) Claims under high risk 1, , , (301.0) Total 2, , , ,054.6 (361.1) Progress in the disposal of problem assets (in billions of yen) Second half of fiscal 2001 Disposition by borrower's liquidation 7.0 (A) (B) Re-constructive disposition 20.8 Improvements of financial status due to re-constructive disposition - Loan sales to secondary market Write-off 93.3 Other Total Collection of claims 76.3 Improvements of financial status (B) Note: "Improvements of financial status due to re-constructive disposition" were included in "Other" in the disclosure for the year ended March 31, In addition to the above-mentioned, 1.6 billion of problem loans had been entrusted through the managed trust method to the Resolution and Collection Corporation, which facilitates the final disposal of problem loans. (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 March 31, 2001 September 30, 2001(a) March 31, 2002(b) (b) - (a) Claims to bankrupt and substantially bankrupt debtors (4.5) Claims under high risk (154.0) Total (158.6) Progress in the disposal of problem assets (in billions of yen) Second half of fiscal 2001 Disposition by borrower's liquidation 3.3 (C) (D) Re-constructive disposition 18.6 Improvements of financial status due to re-constructive disposition - Loan sales to secondary market 9.5 Write-off 33.8 Other 93.3 Collection of claims 69.6 Improvements of financial status 23.6 Total (D) Note: "Improvements of financial status due to re-constructive disposition" were included in "Other" in the disclosure for the year ended March 31,

21 Mitsubishi Tokyo Financial Group, Inc. (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 March 31, 2001(a) March 31, 2002(b) (b) - (a) Claims to bankrupt and substantially bankrupt debtors Claims under high risk (166.8) Total (154.9) Progress in the disposal of problem assets (in billions of yen) Second half of fiscal 2001 Disposition by borrower's liquidation 7.2 (E) (F) Re-constructive disposition 14.2 Improvements of financial status due to re-constructive disposition 7.7 Loan sales to secondary market 46.7 Write-off 19.0 Other 59.9 Collection of claims 41.5 Improvements of financial status 18.3 Total (F) (4)Assets newly categorized as problem assets during second half of fiscal 2001 based on the FRL (in billions of yen) As of March 31, 2002 Claims to bankrupt and substantially 63.6 bankrupt debtors Claims under high risk Total (G) (Reference) Problem assets based on the FRL as of March 31, 2002 (in billions of yen) Claims to bankrupt and substantially bankrupt debtors Claims under high risk 1,933.5 Total 2,352.6 (H=A+C+E+G) Note:In addition to the above-mentioned, 1.6 billion of problem loans had been entrusted through the managed trust method to the Resolution and Collection Corporation, which facilitates the final disposal of problem loans

22 Mitsubishi Tokyo Financial Group, Inc. 7. Classification of Loans by Type of Industry (1) Loan by type of industry [Total of the 2 Banks] 2002 (A) (A) - (B) (A) - (C) 2001 (B) 2001 (C) Domestic offices (excluding loans booked at offshore markets) 38,082, ,530 1,455,169 37,620,504 36,626,865 Manufacturing 5,835,399 (24,078) (1,052) 5,859,477 5,836,451 Agriculture 18,590 (4,279) (1,940) 22,869 20,530 Forestry 5, ,632 5,543 Fishery 15,424 2,545 1,304 12,879 14,120 Mining 48,396 (2,198) 3,939 50,594 44,457 Construction 1,470,696 (189,121) (63,353) 1,659,817 1,534,049 Utilities 387,971 (46,318) (27,947) 434, ,918 Transportation and Communication 1,837,367 (79,841) (58,062) 1,917,208 1,895,429 Wholesale, Retail and Restaurant 5,618,861 (574,128) (304,818) 6,192,989 5,923,679 Banks and other financial institutions 4,185, , ,423 3,877,194 3,758,196 Real estate 4,949,457 (266,679) (115,289) 5,216,136 5,064,746 Services 4,546,751 (284,317) (171,205) 4,831,068 4,717,956 Municipal government 255,358 (186,558) (144,743) 441, ,101 Other industries 8,906,381 1,807,952 1,910,705 7,098,429 6,995,676 Overseas offices and loans booked at offshore markets 6,579, , ,378 6,357,595 6,021,441 Total 44,661, ,754 2,013,548 43,978,100 42,648,306 (2) Domestic consumer loans [Total of the 2 Banks] 2002 (A) (A) - (B) (A) - (C) 2001 (B) 2001 (C) Total domestic consumer loans 6,979, , ,829 6,717,908 6,732,767 Housing loans 6,376, , ,872 6,063,904 6,109,133 Others 603,591 (50,412) (20,042) 654, ,633 (3) Domestic loans to small and medium-sized companies [Total of the 2 Banks] 2002 (A) (A) - (B) (A) - (C) 2001 (B) 2001 (C) Domestic loans to small and medium-sized companies 21,641,666 (959,037) (87,722) 22,600,704 21,729,389 Percentage to total domestic loans 56.82% (3.24)% (2.49)% 60.07% 59.32%

23 Mitsubishi Tokyo Financial Group,Inc. 8. Foreign Loans (1) Loan to specific foreign borrowers [Total of the 2 Banks] (in millions of yen except number of countries) 2002 (A) (A) - (B) (A) - (C) 2001 (B) 2001 (C) Loan to specific foreign borrowers 132,045 24,342 47, ,702 84,361 Number of countries (2) Loan to Asia countries [Total of the 2 Banks] 2002 (A) (A) - (B) (A) - (C) 2001 (B) 2001 (C) Thailand 278,592 (1,875) 8, , ,158 Indonesia 183,830 (30,027) (10,057) 213, ,888 Malaysia 120,469 30,503 35,630 89,966 84,838 Philippines 76,176 (350) 4,873 76,527 71,302 South Korea 92,524 (7,850) (2,979) 100,374 95,503 Singapore 314,991 24,197 24, , ,332 Hong Kong 467,018 (11,132) 35, , ,280 China 246,329 13,324 16, , ,034 Taiwan 36,545 (6,320) (6,087) 42,866 42,633 Others 73,227 (8,354) 1,404 81,581 71,823 Total 1,889,705 2, ,908 1,887,591 1,781,796 (3) Loan to Latin American countries [Total of the 2 Banks] 2002 (A) (A) - (B) (A) - (C) 2001 (B) 2001 (C) Argentina 84,564 (5,377) (4,610) 89,942 89,175 Brazil 85,472 11,238 (711) 74,233 86,183 Mexico 108,808 50,832 29,271 57,976 79,537 Caribbean countries 464,836 (46,354) 11, , ,479 Others 151,858 10,561 13, , ,158 Total 895,540 20,901 49, , ,533 (4) Loan to Russia [Total of the 2 Banks] 2002 (A) (A) - (B) (A) - (C) 2001 (B) 2001 (C) Russia 4,911 2,656 2,440 2,255 2,

24 Mitsubishi Tokyo Financial Group, Inc. 3 Other 1. Number of Employees [Total of the 2 Banks] 2002 (A) (A) - (B) (A) - (C) 2001 (B) 2001 (C) Number of Employees 22,261 (981) (781) 23,242 23,042 Note: Trainees, nonregular employees, part-time workers and non-board member directors are not included in number of employees. 2. Number of Offices [Total of the 2 Banks] 2002 (A) (A) - (B) (A) - (C) 2001 (B) 2001 (C) Domestic : 351 (31) (19) Head office and Branches 321 (19) (8) Sub Branches & Agencies 30 (12) (11) Overseas : 83 (1) (1) Branches Sub - branches Representative offices 20 (1) (1) Total 434 (32) (20)

25 Mitsubishi Tokyo Financial Group, Inc. 3. Employees' Retirement Benefits (1) Benefit obligation As of March 31, 2002 Benefit obligation (A) 1,076,109 Discount rate:* Domestic subsidiaries 2.2%~3.0% Overseas subsidiaries 7.25%~7.5% Fair value of plan assets (B) 779,918 Prepaid pension cost (C) 43,290 Liability for employees' retirement benefits (D) 27,023 Total amount unrecognized (A-B+C-D) 312,457 Unrecognized net obligation at transition 54,432 Unrecognized prior servise cost (12,775) Unrecognized net actuarial loss 270,801 Note: * Discount rates for The Bank of Tokyo-Mitsubishi, Ltd. and The Mitsubishi Trust and Banking Corporation are 2.5% and 2.4%, respectively. (2) Net periodic pension cost For the year ended March 31, 2002 Net periodic pension cost 68,740 Service cost 27,345 Interest cost 30,960 Expected return on plan assets (30,566) Amortization of net obligation at transition 18,138 Amortization of prior service cost (114) Amortization of net actuarial loss 13,418 Other 9,

26 Mitsubishi Tokyo Financial Group, Inc. 3. Employees' Retirement Benefits (1) Benefit obligation As of March 31, 2002 Benefit obligation (A) 1,076,109 Discount rate:* Domestic subsidiaries 2.2%~3.0% Overseas subsidiaries 7.25%~7.5% Fair value of plan assets (B) 779,918 Prepaid pension cost (C) 43,290 Liability for employees' retirement benefits (D) 27,023 Total amount unrecognized (A-B+C-D) 312,457 Unrecognized net obligation at transition 54,432 Unrecognized prior servise cost (12,775) Unrecognized net actuarial loss 270,801 Note: * Discount rates for The Bank of Tokyo-Mitsubishi, Ltd. and The Mitsubishi Trust and Banking Corporation are 2.5% and 2.4%, respectively. (2) Net periodic pension cost For the year ended March 31, 2002 Net periodic pension cost 68,740 Service cost 27,345 Interest cost 30,960 Expected return on plan assets (30,566) Amortization of net obligation at transition 18,138 Amortization of prior service cost (114) Amortization of net actuarial loss 13,418 Other 9,

27 Mitsubishi Tokyo Financial Group, Inc. 4. Earning Projections for the Fiscal Year Ending March 31, 2003 [Consolidated] For the year ending March 31, 2003 (in billions of yen) For the year ended March 31, 2002 Ordinary income 3, ,262.3 ( First half 1,560.0 ) ( First half 1,689.0 ) Ordinary profit (loss) (289.3) ( First half 50.0 ) ( First half (290.0) ) Net income (loss) 55.0 (152.3) ( First half 28.0 ) ( First half (96.8) ) [Non-consolidated] For the year ending March 31, 2003 (in billions of yen) For the year ended March 31, 2002 Operating income ( First half 24.0 ) ( First half 3.8 ) Ordinary profit ( First half 22.0 ) ( First half 1.1 ) Net income ( First half 22.0 ) ( First half 1.0 )