PROHIBITION OF SALES TO EEA RETAIL INVESTORS: The Notes are not intended to be offered,sold or otherwise made available to, and should not be offered, sold or otherwise made available to, any retail investor
in the European Economic Area (the "EEA"). For these purposes, a retail investor means a person who is one (or more)of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, "MiFID II"); or (ii)a customer within the meaning of Directive (EU) 2016/97, where that customer would not qualify as a professional
client as defined in point (10) of Article 4(1) of MiFID II. Consequently no key information document required byRegulation (EU) No 1286/2014 (as amended, the "PRIIPs Regulation") for offering or selling the Notes or otherwise
making them available to retail investors in the EEA has been prepared and therefore offering or selling the Notes orotherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPs Regulation.
PROHIBITION OF SALES TO UK RETAIL INVESTORS: The Notes are not intended to be offered,sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor
in the United Kingdom ("UK"). For these purposes, a retail investor means a person who is one (or more) of: (i) aretail client, as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of the domestic lawof the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 ("EUWA"); (ii) a customer within
the meaning of the provisions of the FSMA and any rules or regulations made under the Financial Services and Markets
Act 2000 (the "FSMA") to implement Directive (EU) 2016/97 , where that customer would not qualify as a professional
client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of the domestic law of
the United Kingdom by virtue of the EUWA. Consequently no key information document required by Regulation(EU) No 1286/2014 as it forms part of the domestic law of the United Kingdom by virtue of the EUWA (the "UK
PRIIPs Regulation") for offering or selling the Notes or otherwise making them available to retail investors in the
UK has been prepared and therefore offering or selling the Notes or otherwise making them available to any retailinvestor in the UK may be unlawful under the UK PRIIPs Regulation.
EU MIFID II PRODUCT GOVERNANCE / PROFESSIONAL INVESTORS AND ECPS ONLYTARGET MARKET: Solely for the purposes of the manufacturer's product approval process, the target market
assessment in respect of the Notes has led to the conclusion that: (i) the target market for the Notes is eligible
counterparties and professional clients only, each as defined in Directive 2014/65/EU (as amended, "EU MiFID II");or (ii) all channels for distribution of the Notes to eligible counterparties and professional clients are appropriate. Any
person subsequently offering, selling or recommending the Notes (a "distributor") should take into consideration the
manufacturer's target market assessment; however, a distributor subject to EU MiFID II is responsible for undertaking
its own target market assessment in respect of the Notes (by either adopting or refining the manufacturer's target market
assessment) and determining appropriate distribution channels.
UK MIFIR PRODUCT GOVERNANCE / PROFESSIONAL INVESTORS AND ECPS ONLYTARGET MARKET: Solely for the purposes of each manufacturer's product approval process, the target market
assessment in respect of the Notes has led to the conclusion that: (i) the target market for the Notes is only eligible
counterparties, as defined in the FCA Handbook Conduct of Business Sourcebook ("COBS"), and professional clients,
as defined in Regulation (EU) No 600/2014 as it forms part of the domestic law of the United Kingdom by virtue of
the European Union (Withdrawal) Act 2018 ("UK MiFIR"); and (ii) all channels for distribution of the Notes toeligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or
recommending the Notes (a "distributor") should take into consideration the manufacturers' target market assessment;
however, a distributor subject to the FCA Handbook Product Intervention and Product Governance Sourcebook (the"UK MiFIR Product Governance Rules") is responsible for undertaking its own target market assessment in respectof the Notes (by either adopting or refining the manufacturers' target market assessment) and determining appropriate
distribution channels.
SINGAPORE SECURITIES AND FUTURES ACT PRODUCT CLASSIFICATION: Solely for the
purposes of its obligations pursuant to sections 309B(1)(a) and 309B(1)(c) of the Securities and Futures Act (Chapter
289) of Singapore (as modified or amended from time to time, the "SFA"), the Issuer has determined, and hereby
notifies all relevant persons (as defined in Section 309A of the SFA) that the Notes are "prescribed capital markets
products" (as defined in the Securities and Futures (Capital Markets Products) Regulations 2018).
Final Terms dated 2 June 2021
Mitsubishi UFJ Financial Group, Inc.
Issue of Series 22 EUR500,000,000 0.337 per cent. Fixed to Floating Callable Senior Notes due 2027
under theMitsubishi UFJ Financial Group, Inc.
andMUFG Bank, Ltd.
U.S.$50,000,000,000 Medium Term Note Programme

PART A – CONTRACTUAL TERMS
Any person making or intending to make an offer of the Notes may only do so in circumstances in which no
obligation arises for the Issuer or any Dealer to publish a prospectus pursuant to Article 3 of the Prospectus Regulation(EU) 2017/1129 (the "Prospectus Regulation") or supplement a prospectus pursuant to Article 23 of the Prospectus
Regulation, in each case, in relation to such offer.
Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in theBase Prospectus dated 7 August 2020 (the "Original Base Prospectus") and the supplement to the Base Prospectus
dated 31 May 2021 (together with the Original Base Prospectus, the "Base Prospectus"). This document constitutes
the Final Terms of the Notes described herein and must be read in conjunction with the Base Prospectus. In order to
get the full information on the Issuer and the offer of the Notes, both the Base Prospectus (including all documents
incorporated by reference therein) and these Final Terms must be read in conjunction. The Base Prospectus has been
published on www.bourse.lu and is available for viewing during normal business hours at the specified office of the
Principal Paying Agent.
1.

Issuer:Mitsubishi UFJ Financial Group, Inc.

2.

(i)

Series Number:

22

(ii)

Tranche Number:

1

(iii)

Date on which the Notes become Not Applicablefungible:3.

Specified Currency or Currencies:

Euro ("EUR")

4.

Aggregate Nominal Amount:

EUR500,000,000(i)Series:

EUR500,000,000(ii)Tranche:

EUR500,000,000

5.

Issue Price:

100 per cent. of the Aggregate Nominal Amount

6.

(i)

Specified Denominations:

EUR200,000 and integral multiples of EUR1,000 in excess
thereof(ii)

Calculation Amount:

EUR1,000(i)

Issue Date:

8 June 2021

(ii)

Interest Commencement Date:

Issue Date in respect of the Fixed Rate Period (as defined
below) and 8 June 2026 in respect of the Floating Rate Period(as defined below)

7.

8.

Maturity Date:

Interest Payment Date falling on or nearest to 8 June 2027

9.

Interest Basis:0.337 per cent. Fixed Rate from, and including the Issue Dateto, but excluding, 8 June 2026 (the "Fixed Rate Period").
3-month EURIBOR + 0.641 per cent. per annum Floating
Rate, from, and including, 8 June 2026 (the "Floating Rate
Period").

10.

Redemption/Payment Basis:

Redemption at par11.

Call/Put Option:

Issuer Call

12.

Status of the Notes:

Unsubordinated13.

Date on which Board approval for issuance Not Applicableof Notes obtained:

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PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
14.

15.

Fixed Rate Note Provisions:Applicable during the Fixed Rate Period(i)Rate of Interest:

0.337 per cent. per annum payable in arrear on each Interest
Payment Date related to interest due in the Fixed Rate Period(ii)Interest Payment Date(s):8 June in each year, from and including 8 June 2022 (the FirstInterest Payment Date) to and including 8 June 2026, notadjusted.

(iii)

Fixed Coupon Amount:

EUR3.37 per Calculation Amount(iv)

Broken Amount(s):Not Applicable(v)

Day Count Fraction:

Actual/Actual (ICMA)

Floating Rate Note Provisions:Applicable during the Floating Rate Period(i)Interest Period(s):As defined in Condition 2(a)(ii)

Specified Interest Payment Dates:

8 September 2026, 8 December 2026, 8 March 2027 and 8
June 2027, in each case subject to adjustment in accordancewith the Business Day Convention set out in (v) below(iii)

First Interest Payment Date (in 8 September 2026, subject to adjustment in accordance withrespect of the Floating Rate Period): the Business Day Convention set out in (v) below(iv)

Initial Rate of Interest:

0.337 per cent. per annum(v)

Business Day Convention:

Modified Following Business Day Convention(vi)

Business Centre(s):TARGET, London, Tokyo(vii)

Manner in which the Rate(s) of Screen Rate Determination
Interest is/are to be determined:(viii)

Party responsible for calculating the Not Applicable (Principal Paying Agent is responsible)
Rate(s) of Interest and/or Interest
Amount(s) (if not the Principal
Paying Agent):(ix)

Screen Rate Determination:

Applicable-

Floating Rate Reference Rate:

3-month EURIBOR-Interest Determination Date(s):The day which is 2 TARGET Settlement Days prior to the firstday of each Interest Period-

Relevant Time:

11:00 a.m. Brussels time-

Relevant Screen Page:

Reuters EURIBOR01-

Relevant Financial Centre:

Brussels(x)

ISDA Determination:

Not Applicable(xi)

Linear Interpolation:

Not Applicable(xii)

Margin(s):+ 0.641 per cent. per annum(xiii)

Minimum Rate of Interest:

0.000 per cent. per annum(xiv)

Maximum Rate of Interest:

Not Applicable

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(xv)Day Count Fraction:(xvi) Benchmark
Provisions:

Actual/360
Replacement Applicable

16.

CMS Rate Note Provisions (the Bank Not Applicableonly):

17.

Zero Coupon Note Provisions (the Bank Not Applicableonly):

18.

Dual Currency Note Provisions (the Bank Not Applicableonly):PROVISIONS RELATING TO REDEMPTION
19.

Call Option:

Applicable(i)

Optional(Call):(ii)

Optional Redemption Amount(s) EUR1,000 per Calculation Amount(Call) of each Note:(iii)

If redeemable in part:(iv)

Redemption

Date(s) 8 June 2026, not adjusted(a)

Minimum Redemption
Amount:Not Applicable(b)

Maximum Redemption
Amount:Not Applicable

Notice period:

Not less than 30 nor more than 60 days' prior notice20.

Put Option (the Bank only):

Not Applicable

21.

Final Redemption Amount of each Note:

EUR1,000 per Calculation Amount22.

Early Redemption Amount (Tax)

EUR1,000 per Calculation AmountFor the avoidance of doubt, from and including 8 June 2021
to and including 8 June 2026, the Notes shall be redeemablefor tax reasons in accordance with the terms of Condition
11(b)(i) and from and including 9 June 2026 to and including
the Maturity Date, the Notes shall be redeemable for tax
reasons in accordance with the terms of Condition 11(b)(ii).

23.

Early Redemption Amount (Regulatory)

Not Applicable

24.

Early Termination Amount

EUR1,000 per Calculation Amount

GENERAL PROVISIONS APPLICABLE TO THE NOTES
25.

Form of Notes:

Registered Notes:
Registered Notes, evidenced by a Global Note Certificate.
The Notes evidenced by the Global Note Certificate will beheld under the new safekeeping structure ("New Safekeeping
Structure" or "NSS"), and will be registered in the name of acommon safekeeper (or its nominee) for Euroclear and/or
Clearstream, Luxembourg and the Global Note Certificate
will be deposited on or about the Issue Date with the common
safekeeper for Euroclear and/or Clearstream, Luxembourg.

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15-41016297

26.

New Global Note:

No

27.

Additional Financial Centre(s):TARGET, London, Tokyo

28.

Talons for future Coupons to be attached No
to Definitive Notes (and dates on whichsuch Talons mature):

29.

Details relating to Partly Paid Notes (the Not Applicable
Bank only):

30.

Details relating to Instalment Notes (the Not Applicable
Bank only):

31.

Other terms or special conditions:

Not Applicable

LISTING AND ADMISSION TO TRADING APPLICATION
These Final Terms comprise the final terms required to have the Notes admitted to the Official List of the Luxembourg
Stock Exchange and admitted to trading to the Euro MTF Market of the Luxembourg Stock Exchange pursuant to theIssuer's Medium Term Note Programme.

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RESPONSIBILITY
The Issuer accepts responsibility for the information contained in these Final Terms.
Signed on behalf of the Issuer:
By:

Duly authorised

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PART B – OTHER INFORMATION
1.

LISTING AND
TRADING

2.

RATINGSADMISSION

Ratings:

TO

Application has been made for the Notes to be admitted tolisting on the official list of the Luxembourg Stock Exchange
and admitted to trading on the Euro MTF Market of the
Luxembourg Stock Exchange.

The Notes to be issued are expected to be rated:
Moody's: A1
S&P Global Ratings Japan Inc.: A−
Fitch Ratings Japan Limited: A−
A security rating is not a recommendation to buy, sell or holdsecurities and may be subject to suspensions, reductions orwithdrawal at any time by the assigning rating agency.

3.

INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE
The Managers and their affiliates have engaged, and may in the future engage, in investment banking and/orcommercial banking transactions with, and may perform other services for, the Issuer and its affiliates in
the ordinary course of business.
Morgan Stanley & Co. International plc, a subsidiary of Morgan Stanley, will participate in the offering asa manager. The Issuer held approximately 20.1 per cent. of the voting rights in Morgan Stanley based on
the number of shares of common stock of Morgan Stanley outstanding as of 31 March 2021 as well as Series
C Preferred Stock with a face value of approximately $521.4 million and 10 per cent. dividend. In addition,
the Issuer currently has two representatives on Morgan Stanley's board of directors. The Issuer has adopted
the equity method of accounting for its investment in Morgan Stanley. In April 2018 the Issuer entered intoa sales plan with Morgan Stanley and Morgan Stanley & Co. LLC, pursuant to which the Issuer will sellportions of the shares of Morgan Stanley common stock that the Issuer holds, to Morgan Stanley throughMorgan Stanley & Co. LLC acting as agent for Morgan Stanley to the extent necessary to ensure that theIssuer’s beneficial ownership will remain below 24.9 per cent.
As part of its strategic alliance with Morgan Stanley, in May 2010, the Issuer and Morgan Stanley integrated
their respective Japanese securities companies by forming two joint venture companies. The Issuer
contributed the wholesale and retail securities businesses conducted in Japan by Mitsubishi UFJ Securities
Co., Ltd. into one of the joint venture entities called Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.
("MUMSS"). Morgan Stanley contributed the investment banking operations conducted in Japan by its
formerly wholly owned subsidiary, Morgan Stanley Japan Securities Co., Ltd. ("Morgan Stanley Japan"),into MUMSS and contributed the sales and trading and capital markets businesses conducted in Japan by
Morgan Stanley Japan into a second joint venture entity called Morgan Stanley MUFG Securities Co., Ltd.
("MSMS"). The Issuer holds a 60 per cent. economic interest in each of the joint venture companies andMorgan Stanley holds a 40 per cent. economic interest in each of the joint venture companies. The Issuer
holds a 60 per cent. voting interest and Morgan Stanley holds a 40 per cent. voting interest in MUMSS, andthe Issuer holds a 49 per cent. voting interest and Morgan Stanley holds a 51 per cent. voting interest in
MSMS. The Issuer and Morgan Stanley's economic and voting interests in the joint venture companies areheld through intermediary holding companies.
In August 2020, MUMSS and Mitsubishi UFJ Morgan Stanley PB Securities Co., Ltd., a wholly owned
subsidiary of MUMSS, merged, with MUMSS being the surviving company.
MUFG Securities EMEA plc, a subsidiary of the Issuer, will participate in the offering as a manager.

4.

REASONS FOR THE OFFER
Reasons for the offer:

551427-941455555-5-v7.0

As set out in the Base Prospectus for Notes other than GSS
Notes.

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5.

OPERATIONAL INFORMATION(i)

6.

Securities identification codes:-

ISIN Code:XS2349788377-

Common Code:234978837(ii)

Any clearing system(s) other thanEuroclear Bank S.A./N.V. andClearstream Banking S.A., and therelevant identification number(s):Not Applicable(iii)

Delivery:

Delivery against payment(iv)

Names and addresses of additional
Paying Agent(s) or depository
agents (including Registrar) (ifany):

Not Applicable(v)

Intended to be held in a manner
which would allow Eurosystemeligibility:

Yes. Note that the designation "yes" simply means that theNotes are intended upon issue to be deposited with one of the
ICSDs as common safekeeper (and registered in the name ofa nominee of one of the ICSDs acting as common safekeeper)and does not necessarily mean that the Notes will berecognised as eligible collateral for Eurosystem monetary
policy and intra-day credit operations by the Eurosystemeither upon issue or at any or all times during their life. Such
recognition will depend upon the ECB being satisfied thatEurosystem eligibility criteria have been met.

DISTRIBUTION(i)

Method of distribution:(ii)

If syndicated:-

Names of Managers:

SyndicatedJoint Lead Managers (books):Morgan Stanley & Co. International plc
MUFG Securities EMEA plc
Joint Lead Managers (no books):
Barclays Bank PLC
BNP Paribas
Crédit Agricole Corporate and Investment BankHSBC Bank plc

Other Managers:
NatixisSociété Générale
Nomura International plc
UBS AG London Branch-

Stabilising Manager(s) (if any):

MUFG Securities EMEA plc(iii)

If non-syndicated, name of Dealer:

Not Applicable

(iv)

U.S.
Selling
Restrictions(Categories of potential investors towhich the Notes are offered):Reg. S Compliance Category 2; TEFRA not applicable

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7.

(v)

Additional selling restrictions:

Not Applicable(vi)

Prohibition of Sales to EEA Retail
Investors:

Applicable(vii)

Prohibition of Sales to UK Retail
Investors:

Applicable

TAX REDEMPTION(i)

Agreement Date:

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2 June 2021

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