This English version is a translation of the original Japanese document and is only for reference purposes. In the case where
any differences occur between the English version and the original Japanese version, the Japanese version will prevail. The
financial results written in the original Japanese document is not audited by independent auditors.

January 28, 2011

Consolidated Financial Results
for the Third Quarter of the Fiscal Year Ending March 31, 2011
[under Japanese GAAP]
Company name: Mitsubishi UFJ Securities Holdings Co., Ltd.
URL:
http://www.hd.sc.mufg.jp/
Representative: Fumiyuki Akikusa, President & CEO
Contact:
Mitsugu Enjouji, General Manager, Financial Planning Division
TEL: (03) 6213-2550
Supplementary material on quarterly financial results:
None
Quarterly financial results presentation meeting: None
(Millions of yen with fractional amounts disregarded)

1.

Consolidated performance for the third quarter of fiscal year 2010
(from April 1, 2010 to December 31, 2010)(1) Consolidated operating results (cumulative)
Operating revenue
Millions of yen
First nine months of
FY2010First nine months of
FY2009% Millions of yen

Operating income% Millions of yen

Ordinary income% Millions of yen%

239,478(10.0)

190,227(13.2)(7,966)

–

(728)

–

265,985(28.7)

219,097

27.0

27,691–40,227–%

Yen

Diluted net income
per shareYen

18,395 (26.8)

25.66

25.65

25,139

35.06

35.06

Net income
Millions of yen
First nine months of
FY2010First nine months of
FY2009(Percentages indicate year-on-year changes.)

Net operating revenue

Net income per share–(2) Consolidated financial position
Total assets

Net assets

Equity ratio

Net assets per share

Millions of yen

Millions of yen%

Yen

As of December 31,
2010

27,392,145

926,3672.3

881.95

As of March 31, 2010

20,134,713

701,6543.2

889.78Reference: Equity
As of December 31, 2010: 632,343 million yen
As of March 31, 2010:
Note:“Equity ratio” is computed under the formula shown below:(Total net assets – Subscription rights to shares – Minority interests) / Total assets

637,962 million yen

2.

Matters on preparing the quarterly consolidated financial statements and others(For details, please refer to “Matters on preparing the quarterly consolidated financial statements andothers” on page 1 of the “Attached Material.”)(1) Changes in significant subsidiaries during the current quarter: None
Note:

Changes in specified subsidiaries resulting in the change in scope of consolidation during the current quarter(2) Application of simplified accounting and particular accounting: None
Note:

Application of simplified accounting and particular accounting for preparing the quarterly consolidated financial
statements(3) Changes in accounting policies, procedures, and methods of presentation
a. Changes due to revisions to accounting standards: Yes
b. Changes due to other reasons: None
(4) Number of issued shares (common stock)
a.

b.

c.

Total number of issued shares at the end of the period (including treasury stock)
As of December 31, 2010

716,985,496 shares

As of March 31, 2010

716,985,496 shares

Number of shares of treasury stock at the end of the period
As of December 31, 2010

– shares

As of March 31, 2010

– sharesAverage number of shares during the period (cumulative from the beginning of the fiscal year)
First nine months of the fiscal year ending March 31, 2011:

716,985,496 sharesFirst nine months of the fiscal year ended March 31, 2010:

716,985,496 shares<* Indication regarding execution of quarterly review procedures>This quarterly financial results report is not subject to the quarterly review procedures in accordancewith the Financial Instruments and Exchange Act.

<* Other special matters>
NoneAttached Material

Index
1.

2.

Matters on preparing the quarterly consolidated financial statements and others(1) Summary of changes in significant subsidiaries during the current quarter ························

P. 1(2) Summary of simplified accounting and particular accounting·························

P. 1(3) Summary of changes in accounting policies, procedures, and methods ofpresentation·························

P. 1

Consolidated financial statements(1) Consolidated balance sheets·························

P. 2(2) Consolidated statements of of income (cumulative)·························

P. 4(3) Notes on premise of going concern·························

P. 6(4) Notes on significant changes in the amount of shareholders’ equity·························

P. 6<Reference>
Consolidated Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2011
1.

2.

Commission received·························

P. 7(1) Breakdown by item·························

P. 7(2) Breakdown by product·························

P. 7

Net trading income·························

P. 7·························

P. 8

Quarterly Trends in Consolidated Statements of Income<Reference>Non-consolidated Financial Results of Mitsubishi UFJ Morgan Stanley Securities, Co., Ltd. for the Third
Quarter of the Fiscal Year Ending March 31, 2011
(1) Non-consolidated operating results·························

P. 9(2) Non-consolidated financial position·························

P. 10

1.

Matters on preparing the quarterly consolidated financial statements and others(1) Summary of changes in significant subsidiaries during the current quarter
None(2) Summary of simplified accounting and particular accounting
None(3) Summary of changes in accounting policies, procedures, and methods of presentationa. Effective from the first quarter of this fiscal year, the Company adopted “Accounting Standard
for Business Combinations” (ASBJ Statement No. 21, December 26, 2008), “AccountingStandard for Consolidated Financial Statements” (ASBJ Statement No. 22, December 26,2008), “Partial amendments to Accounting Standard for Research and Development Costs”(ASBJ Statement No. 23, December 26, 2008), “Accounting Standard for Business
Divestitures” (ASBJ Statement No. 7, December 26, 2008), “Accounting Standard for Equity
Method of Accounting for Investments” (ASBJ Statement No. 16, Released on December 26,2008) and “Guidance on Accounting Standard for Business Combinations and AccountingStandard for Business Divestitures” (ASBJ Guidance No. 10, December 26, 2008).
b.

Effective from the first quarter of this fiscal year, the Company adopted “Accounting Standard
for Asset Retirement Obligations” (ASBJ Statement No. 18, March 31, 2008) and “Guidanceon Accounting Standard for Asset Retirement Obligations” (ASBJ Guidance No. 21, March 31,2008).
As a result, Operating loss and Ordinary loss increased respectively by 442 million yen andIncome before income taxes and minority interests decreased by 2,916 million yen. The change
in Asset retirement obligations due to the adoption of this accounting standard, etc. was 3,892
million yen.

1

2.

Consolidated financial statements(1) Consolidated balance sheets(Millions of yen)
As of December 31, 2010ASSETS
Current assets
Cash and deposits
Cash segregated as deposits
Trading products
Trading securities and other
Derivatives
Trade date accrual
Private equity and other securities
Margin transaction assets
Loans secured by securities
Short-term guarantee deposits
Short-term investment securities
Income taxes receivable
Other current assets
Allowance for doubtful accounts
Total current assets
Noncurrent assets
Property, plant and equipment
Intangible assets
Investments and other assets
Total noncurrent assets
Total assets

2

As of March 31, 2010

162,541
89,09817,287,867
10,061,556
7,226,311
209,180
65,102
47,6837,750,739
568,804
279,519
1,614
85,795(882)

168,469
91,588
11,395,146
6,538,721
4,856,424
109,281
67,65059,0206,765,283
435,248
327,962
1,482
130,229(967)

26,547,065

19,550,395

24,39540,632780,052

23,44145,508515,368

845,080

584,318

27,392,145

20,134,713

(Millions of yen)
As of March 31, 2010

As of December 31, 2010
LIABILITIESCurrent liabilities
Trading products

10,609,356

7,540,898

Trading securities and other

3,636,538

2,932,436

Derivatives

6,972,818

4,608,461

19,442

23,908Loans payable secured by securities

9,493,862

8,307,900

Short-term loans payable

3,740,713

1,367,784

Margin transaction liabilities

Current portion of long-term loans payable

42,300108,058

Commercial papers

414,800

374,700

Current portion of bonds

137,372

85,130

Income taxes payable

2,788

5,901

Asset retirement obligations

755–

Other current liabilities

935,840

651,219

Total current liabilities

25,397,232

18,465,501

Bonds payable

662,252

681,530

Long-term loans payable

384,214

266,947

Provision for retirement benefits

12,467

10,773442

415

Asset retirement obligations

3,529

–

Other noncurrent liabilities

4,268

6,029

Total noncurrent liabilities

1,067,173

965,696

Reserve for financial products transaction
liabilities

1,371

1,861

Total reserves under the special laws

1,371

1,861

26,465,778

19,433,059

Noncurrent liabilities

Provision for directors’ retirement benefits

Reserves under the special laws

Total liabilities
NET ASSETS
Shareholders’ equity
Capital stock

65,51865,518

Capital surplus

416,948

416,948

Retained earnings

195,648

184,580

Total shareholders’ equity

678,115

667,047(8,157)(5,382)20

24

Foreign currency translation adjustment(37,635)(23,726)

Total valuation and translation adjustments(45,772)(29,085)40294,019

63,691

Valuation and translation adjustments
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges

Subscription rights to shares
Minority interests
Total net assets
Total liabilities and net assets

3926,367

701,654

27,392,145

20,134,713

(2) Consolidated statements of of income (cumulative)(Millions of yen)First nine months of FY2010(From April 1, 2010
to December 31, 2010)

First nine months of FY2009(From April 1, 2009
to December 31, 2009)
Operating revenue
Commission received

139,194

121,993

Net trading income

73,90566,268

(581)

884

(9)

2

Net gain on private equity and other securities
Other net gain on goods trading
Financial revenue

53,47650,329Total operating revenue

265,985

239,478

Financial expenses

46,88849,251

Net operating revenue

219,097

190,227

Selling, general and administrative expenses

191,405

198,193

Operating income (loss)

27,691(7,966)

Interest income

6,787

3,295

Dividends income

385

–

–

1,442

6,471

1,891

Non-operating income

Equity in earnings of affiliates
Gain on valuation of investment securities
Other

800

2,536

14,444

9,166

Interest expenses

542

501

Equity in losses of affiliates

144–

Total non-operating income
Non-operating expenses

Loss on retirement of noncurrent assets
Foreign exchange losses
Other
Total non-operating expenses
Ordinary income (loss)

–

549

337

510

883

367

1,908

1,928

40,227

(728)

1,037

67

Extraordinary income
Gain on sales of investment securities
Gain on sales of noncurrent assets

015Gain on negative goodwill–

517

Reversal of reserve for financial products
transaction liabilities

3489

Reversal of allowance for doubtful accounts–

51

Gain on change in equity–

27,913

1,040

29,053

Total extraordinary income

4

(Millions of yen)First nine months of FY2010(From April 1, 2010
to December 31, 2010)

First nine months of FY2009(From April 1, 2009
to December 31, 2009)
Extraordinary loss
Loss on sales of investment securities
Loss on valuation of investment securities
Loss on sales of noncurrent assets
Impairment loss

9

402

669

220

–

2

208

2,005

Compensation for damage, etc.

726–

Loss related to M&A

469–

Integration-related expenses

219

193

–

2,473

Loss on adjustment for changes of accounting
standard for asset retirement obligations

2,302

5,298

Income before income taxes and minority interests

Total extraordinary loss

38,96623,026

Income taxes-current

10,034

5,615

Income taxes-deferred(1,982)

3,801

Income taxes

8,052

9,417

–

13,608

Minority interests in income (loss)

Income before minority interests

5,774(4,787)

Net income

25,13918,3955

(3) Notes on premise of going concern
None(4) Notes on significant changes in the amount of shareholders’ equity
None

6<Reference>

Consolidated Financial Results
for the Third Quarter of the Fiscal Year Ending March 31, 2011

1. Commission received(1) Breakdown by item
(Millions of yen)

Commission to consigneesFirst nine months of
FY2009First nine months of
FY2010(From April 1, 2009
to December 31, 2009)(From April 1, 2010
to December 31, 2010)

Increase(Decrease)

FY2009(From April 1, 2009
to March 31, 2010)

19,61815,680(3,938)25,227

Stocks

19,28015,289(3,991)

24,843

Bonds

241

215

(26)

253

31,004

15,149(15,854)

39,373

18,342

4,855(13,487)

24,35812,661

10,294(2,366)15,014

19,711

24,076

4,364

26,663

19,53523,992

4,456

26,46868,85967,086(1,773)

94,40457,69851,452(6,245)75,902

139,194

121,993(17,201)

185,669

Commission forunderwriting, secondary
distribution and solicitation
for selling and others for
professional investors
Stocks
Bonds
Fee for offering, secondary
distribution and solicitation
for selling and others for
professional investors
Beneficiary certificates
Other fees received
Beneficiary certificates
Total(2) Breakdown by product(Millions of yen)First nine months of
FY2009First nine months of
FY2010(From April 1, 2009
to December 31, 2009)(From April 1, 2010
to December 31, 2010)

Increase(Decrease)

FY2009(From April 1, 2009
to March 31, 2010)

Stocks38,93522,420(16,514)

Bonds

13,751

11,825(1,925)

16,415

Beneficiary certificates

77,32975,619(1,710)102,501

49,935

Other

9,178

12,127

2,949

16,816

Total

139,194

121,993(17,201)

185,669

2. Net trading income(Millions of yen)First nine months of
FY2009First nine months of
FY2010(From April 1, 2009
to December 31, 2009)(From April 1, 2010
to December 31, 2010)

Increase(Decrease)

FY2009(From April 1, 2009
to March 31, 2010)

Securities

7,316(2,278)(9,594)

10,653

Bonds

76,15780,951

4,793

102,340

Other(9,569)(12,404)(2,835)(12,575)

Total

73,90566,268(7,636)

100,418

7

<Reference>

Quarterly Trends in Consolidated Statements of Income

Operating revenue
Commission received
Commission to consignees
Stocks
Bonds
Commission for underwriting,secondary distribution andsolicitation for selling and others for
professional investors
Stocks
Bonds
Fee for offering, secondary
distribution and solicitation for
selling and others for professional
investors
Beneficiary certificates
Other fees received
Beneficiary certificates
Net trading income
Net trading income from securities
Net trading income from bonds
Other net trading income
Net gain on private equity and othersecurities
Other net gain on goods trading
Financial revenue
Financial expenses
Net operating revenue
Selling, general and administrative
expenses
Trading related expenses
Personal expenses
Real estate expenses
Office cost
Depreciation
Taxes and dues
Other
Operating income (loss)
Non-operating income
Non-operating expenses
Ordinary income (loss)
Extraordinary income
Extraordinary loss
Income (loss) before income taxes andminority interests
Income taxes-current
Income taxes-deferred
Income taxes
Income (loss) before minority interests
Minority interests in income (loss)
Net income (loss)(Millions of yen)
3Q of FY2010

3Q of FY2009

4Q of FY2009

1Q of FY2010(October 1 to
December 31, 2009)(January 1 toMarch 31, 2010)(April 1 toJune 30, 2010)

73,663
48,112
5,178
5,064
77

77,83846,474
5,608
5,562
11

83,84037,787
5,409
5,288
50

74,661
42,628
5,337
5,222
57

80,976
41,576
4,933
4,777
107

13,977

8,369

2,990

6,605

5,553

11,570
2,407

6,016
2,353

1,110
1,880

1,984
4,621

1,760
3,793

6,418

6,951

8,004

8,159

7,912

6,376
22,537
19,2937,350(383)
17,779(10,045)

6,932
25,544
18,204
26,513
3,336
26,182(3,006)

7,971
21,382
17,837
29,687(2,799)43,056(10,569)

8,133
22,526
17,21914,791
2,166
36,047(23,422)

7,887
23,177
16,39521,789(1,645)
1,847
21,587252(2,068)

823

7

52

1
17,947
9,864
63,799

(0)
6,920
9,782
68,055(8)
15,55017,43866,402

11
17,221
13,77260,888(0)
17,55718,04062,936

61,98871,69865,76068,474

63,95817,617
26,114
6,052
4,967
5,391
457
1,386
1,810
6,362
(93)
8,267
49
370

19,80330,825
6,627
6,098
5,763
680
1,899
(3,642)
4,715
279
794
474
1,137

19,14926,858
6,239
5,653
5,361
813
1,685
641
6,084
250
6,475
24,618
2,772

20,18527,187
6,744
6,801
5,651
614
1,290
(7,585)(11)
1,151(8,748)
3,897
1,901

18,02625,964
6,464
5,689
5,327
829
1,655
(1,022)
3,093
527
1,544
538
624

7,946

130

28,321(6,752)

1,457

2,610
602
3,213
4,733
2,042
2,690

2,803
(7,901)(5,098)
5,229
1,619
3,609

1,652
2,699
4,352
23,9681,169
22,7992,420(2,493)(72)(6,680)(3,311)(3,368)

1,542
3,595
5,137
(3,680)(2,645)(1,034)8

2Q of FY2010(July 1 to
(October 1 to
September 30, 2010) December 31, 2010)

<Reference>Non-consolidated Financial Results of
Mitsubishi UFJ Morgan Stanley Securities, Co., Ltd.
for the Third Quarter of the Fiscal Year Ending March 31, 2011

(1) Non-consolidated operating results(Millions of yen)

Operating revenue

First nine months of
FY2009First nine months of
FY2010(From April 1, 2009
to December 31, 2009)(From April 1, 2010
to December 31, 2010)

Increase(Decrease)

FY2009(From April 1, 2009
to March 31, 2010)

165,553

140,581(24,971)

218,163

81,94771,542(10,404)

109,342

Commission received
Net trading income

62,70450,708(11,996)

78,918Net operating revenue

153,848

129,400(24,448)

202,965

Operating income (loss)

10,238(15,149)(25,388)

9,327

Ordinary income (loss)

11,748(13,560)(25,308)

11,094

Net income (loss)

11,863(18,991)(30,855)

11,008(Breakdown of operating revenue)<Breakdown by item of commission received>(Millions of yen)

Commission to consigneesFirst nine months of
FY2009First nine months of
FY2010(From April 1, 2009
to December 31, 2009)(From April 1, 2010
to December 31, 2010)

Increase(Decrease)

FY2009(From April 1, 2009
to March 31, 2010)

19,644

14,655(4,989)25,44120,807

5,969(14,838)

25,042

19,711

24,076

4,364

26,663

Other fees received

21,783

26,842

5,058

32,195

Total

81,94771,542(10,404)

109,342

Commission forunderwriting, secondary
distribution and solicitation
for selling and others for
professional investors
Fee for offering, secondary
distribution and solicitation
for selling and others for
professional investors<Breakdown by product of commission received>(Millions of yen)First nine months of
FY2009First nine months of
FY2010(From April 1, 2009
to December 31, 2009)(From April 1, 2010
to December 31, 2010)

Increase(Decrease)

FY2009(From April 1, 2009
to March 31, 2010)

Stocks37,276

19,744(17,531)46,980

Bonds

5,294

4,107

(1,187)

6,370

Beneficiary certificates

31,582

36,9905,407

42,515

Other

7,794

10,7002,906

13,475

Total

81,94771,542(10,404)

109,3429

<Net trading income>(Millions of yen)First nine months of
FY2009First nine months of
FY2010(From April 1, 2009
to December 31, 2009)(From April 1, 2010
to December 31, 2010)

Increase(Decrease)

FY2009(From April 1, 2009
to March 31, 2010)

Securities

6,443

3,441

(3,001)

11,267

Bonds

59,15765,4906,333

82,149Other(2,896)(18,224)(15,327)(14,497)

Total

62,70450,708(11,996)

78,918(2) Non-consolidated financial position
As ofDecember 31, 2010

As of March 31, 2010

Increase(Decrease)(Millions of yen)
As ofDecember 31, 2009

Total assets

17,990,028

12,752,634

5,237,394

13,470,039

Net assets

294,771626,646(331,875)

626,123

Note 1: The performance results stated for the first nine months of FY2009, as of December 31, 2009, FY2009 and as of March
31, 2010 are the performance results of Mitsubishi UFJ Securities Co., Ltd. (current Mitsubishi UFJ Securities Holdings
Co., Ltd.)
Note 2: On April 1, 2010, the domestic business operations of the current Mitsubishi UFJ Securities Holdings Co., Ltd. weretransferred to Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. by a way of a company split. Furthermore, on May 1,
2010, the investment banking division of Morgan Stanley Japan Securities Co., Ltd. was integrated.
Note 3: The net capital regulation ratio as of December 31, 2010 is 345.6%.

10