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 31, 2022

Consolidated Financial Results
for the Third Quarter of the Fiscal Year Ending March 31, 2022
[under Japanese GAAP]
Company name: Mitsubishi UFJ Securities Holdings Co., Ltd.
URL:
https://www.hd.sc.mufg.jp/
Representative: Saburo Araki, President & CEO
Contact:
Hiroyuki Ogata, General Manager, Financial Planning Division
TEL: (03) 6213-2550
Supplementary material on quarterly financial results:
Yes
Quarterly financial results presentation meeting: None
(Millions of yen with fractional amounts disregarded)

1.

Consolidated performance for the third quarter of fiscal year 2021
(from April 1, 2021 to December 31, 2021)(1) Consolidated operating results (cumulative)
Operating revenue
Millions of yen
First nine months of
FY2021First nine months of
FY2020(Percentages indicate year-on-year changes.)

Net operating revenue% Millions of yen

Operating profit

Ordinary profit% Millions of yen% Millions of yen%

255,525(8.9)

219,774(7.2)

11,861(67.6)

30,460(38.0)

280,515(13.1)

236,765

4.0

36,640262.9

49,119101.9Profit attributable toowners of parent
Millions of yen%

Basic earnings
per share

Diluted earnings
per share
Yen

YenFirst nine months of
7,916 (68.6)
10.74
FY2021First nine months of
25,184 138.7
34.17
FY2020(Note)
Comprehensive income First nine months of FY2021:
42,593 million yen
First nine months of FY2020:
20,754 million yen－－
105.2%
453.5%(2) Consolidated financial position

As of December 31, 2021
As of March 31, 2021

Total assets

Net assets

Equity ratio

Millions of yen
30,646,606

Millions of yen
987,475%
2.3

33,502,327

977,310

2.1(Reference) Equity
As of December 31, 2021: 709,589 million yen
As of March 31, 2021: 694,445 million yen(Note)“Equity ratio” is computed under the formula shown below:(Total net assets – Share acquisition rights – Non-controlling interests) / Total assets

*Notes(1) Changes in significant subsidiaries during the current period (changes in specified
subsidiaries resulting in the change in scope of consolidation): None
(2) Application of particular accounting for preparing quarterly consolidated financial
statements: None
(3) Changes in accounting policies, changes in accounting estimates, and restatement of priorperiod financial statements after error corrections
a. Changes in accounting policies due to revisions to accounting standards and other regulations:Yesb. Changes in accounting policies due to other reasons: Nonec. Changes in accounting estimates: None
d. Restatement of prior period financial statements after error corrections: None
(Note) For details, please refer to “Consolidated financial statements and primary notes (3) Notes toconsolidated financial statements (Notes on changes in accounting policies due to revisions toaccounting standards and other regulations)” on page 4 of the “Attached Material” .
(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, 2021

736,985,496 shares

As of March 31, 2021

736,985,496 shares

Number of shares of treasury stock at the end of the period
As of December 31, 2021

– shares

As of March 31, 2021

– 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, 2022

736,985,496 sharesFirst nine months of the fiscal year ended March 31, 2021

736,985,496 shares<* >This quarterly financial results report is not subject to quarterly review.
<* Other special matters>
NoneAttached Material

Index
Consolidated financial statements and primary notes(1) Consolidated balance sheets--------------------

1(2) Consolidated statements of income and Consolidated statements of comprehensive income
Consolidated statements of income (cumulative)--------------------

3

Consolidated statements of comprehensive income (cumulative)--------------------

4(Notes on premise of going concern)--------------------

4(Notes on significant changes in the amount of shareholders’ equity)--------------------

4(3) Notes to consolidated financial statements(Notes on changes in accounting policies due to revisions to accounting standards and other-------------------4
regulations)<Reference>
Consolidated Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2022
1. Commission received(1) Breakdown by item--------------------

5(2) Breakdown by product--------------------

5

2. Net trading income--------------------

5

Quarterly Trends in Consolidated Statements of Income--------------------

6<Reference>
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. for the Third Quarter of the Fiscal Year Ending
March 31, 2022
(1) Non-consolidated operating results--------------------

7(2) Non-consolidated financial position--------------------

7

Consolidated financial statements and primary notes(1) Consolidated balance sheets(Millions of yen)
As of March 31, 2021

As of December 31, 2021

ASSETS
Current assets
Cash and deposits

1,840,436

1,798,600

Cash segregated as deposits

1,093,651

1,098,497

Trading products

15,020,167

13,067,161

Trading securities and other8,097,590

7,770,662

Derivatives

6,922,576

5,296,498

Margin transaction assets

299,934

258,251

Loans secured by securities

13,364,965

12,268,003

Short-term guarantee deposits

1,064,324

1,327,480

Short-term investment securities

34,98037,134

Income taxes receivable

1,338

8,404

Other current assets

191,456

209,113

Total current assets

32,911,256

30,072,647

29,03027,225

Non-current assets
Property, plant and equipment
Intangible assets

100,445

100,360

Investments and other assets

461,595

446,372

Total non-current assets
Total assets

591,071573,958

33,502,327

30,646,606

(Millions of yen)
As of March 31, 2021

As of December 31, 2021

LIABILITIESCurrent liabilities
Trading products

11,953,041

Trading securities and other

10,092,666

5,365,969

4,922,533

Derivatives
Trade date accrual
Margin transaction liabilities

6,587,071
269,944
156,920

5,170,132
59,44095,886

Borrowings secured by securities

11,533,643

11,175,682

Short-term borrowings

2,759,817

2,211,952

Current portion of bonds

191,313130,247

Current portion of long-term borrowings

189,840

92,831

1,016,021

984,784

9,116

4,842

Commercial papers
Income taxes payable
Asset retirement obligations

389

217

Other current liabilities

2,873,057

2,975,846

Total current liabilities

30,953,106

27,824,397

Bonds payable

804,991

871,645

Long-term borrowings

743,456

940,406

2,618

2,688

Non-current liabilities

Net defined benefit liability
Provision for directors’ retirement benefits
Asset retirement obligations

12

7

7,413

7,412

Other non-current liabilities

8,776

7,926

Total non-current liabilities

1,567,268

1,830,087

4,642

4,647

Reserves under special laws
Reserve for financial instruments transaction
liabilities
Total reserves under special laws
Total liabilities

4,642

4,647

32,525,017

29,659,131

NET ASSETS
Shareholders’ equity
Share capital

75,51875,518

Capital surplus

434,441

434,441

Retained earnings

215,565

209,905

Total shareholders’ equity

725,525

719,866

1,085

1,446

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

32

29

Foreign currency translation adjustment(35,227)(14,913)

Remeasurements of defined benefit plans

3,029

3,161

Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets(31,079)(10,276)

282,864

277,885

977,310

987,475

33,502,327

30,646,606

(2) Consolidated statements of income and Consolidated statements of comprehensive income
䚷䚷Consolidated statements of income (cumulative)

First nine months of FY2020(From April 1, 2020
to December 31, 2020)
Operating revenue
Commission received
Net trading income
Financial revenue
Other operating revenue
Total operating revenue
Financial expenses
Net operating revenue
Selling, general and administrative expenses
Operating profit
Non-operating income
Share of profit of entities accounted for using equity method
Other
Total non-operating income
Non-operating expenses
Loss on retirement of non-current assets
Loss on sales of investment securities
Loss on investments in money held in trust
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sales of investment securities
Total extraordinary income
Extraordinary losses
Loss on valuation of investment securities
Impairment loss
Provision of reserve for financial instruments transaction liabilities
Loss on liquidation of subsidiaries and associates
Business restructuring expenses
Total extraordinary losses
Profit before income taxes
Income taxes-current
Income taxes-deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

(Millions of yen)First nine months of FY2021(From April 1, 2021
to December 31, 2021)

100,650
107,21272,648
4
280,515
43,750236,765
200,124
36,640128,455
62,16564,9004
255,525
35,750219,774
207,913
11,861

5,132
8,016
13,1499,870
9,413
19,284

63
35
461
110
670
49,119

229
205
䠉
250
685
30,460

6
6

126
126

15
624
136
94
1,318
2,188
46,936
12,806557
13,36333,573
8,389
25,184

3
515
4
㸫
836
1,359
29,227
9,727(1,759)7,968
21,25813,342
7,916

ࠉConsolidated statements of comprehensive income (cumulative)(Millions of yen)First nine months of FY2020(From April 1, 2020
to December 31, 2020)

First nine months of FY2021(From April 1, 2021
to December 31, 2021)

33,573

21,258390
10(13,187)(32)(12,819)
20,754805(3)20,314219
21,33542,593

12,257
8,496

28,71813,875

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income(Comprehensive income attributable to)Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests(3) Notes to consolidated financial statements(Notes on premise of going concern)
None(Notes on significant changes in the amount of shareholders’ equity)
None(Notes on changes in accounting policies due to revisions to accounting standards and other regulations)䚷(Application of Accounting Standard for Revenue Recognition)
The Company has been applying the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020,
hereinafter referred to as the “Revenue Recognition Accounting Standard”) and “Guidance on Accounting Standard for Revenue
Recognition”(ASBJ Guidance No. 30, March 26, 2021) from the beginning of the first quarter of the fiscal year ending March 31, 2022,
and changed the recognition of revenue from gross amount to net amount for securities brokerage transactions, etc.
In accordance with the transitional measures stipulated in the proviso to paragraph 84 of the Revenue Recognition Accounting Standard, thecumulative effect of the retrospective application, assuming the new accounting policy had been applied to periods prior to the beginning of
the first quarter of the fiscal year ending March 31, 2022, was added to or deducted from the opening balance of retained earnings ofthe first quarter of the fiscal year ending March 31, 2022 and the new accounting policy has been applied from the such opening balance.
However, the new accounting policy has not been applied retrospectively to contracts for which the Company has applied the method
prescribed in paragraph 86 of the Revenue Recognition Accounting Standard and recognized almost all revenue amounts in accordance withthe previous treatment for periods prior to the beginning of the first quarter of the fiscal year ending March 31, 2022.
As a result of the above, operating revenue and selling, general and administrative expenses for the first nine months of the fiscal year
ending March 31, 2022 decreased by 2,786 million yen each. In addition, there is no effect on the opening balance of retained
earnings of the fiscal year ending March 31, 2022.

<Reference>

Consolidated Financial Results
for the Third Quarter of the Fiscal Year Ending March 31, 2022
1. Commission received(1) Breakdown by item
(Millions of yen)First nine months of FY2020(From April 1, 2020
to December 31, 2020)

Brokerage commission

First nine months of FY2021(From April 1, 2021
to December 31, 2021)

FY2020(From April 1, 2020
to March 31, 2021)

Increase(Decrease)

20,752

20,058(694)

29,200Stocks

19,832

19,424(407)

28,019

Bonds

3

1

(2)

4

19,61430,101

10,487

26,142

Commission for underwriting,secondary distribution and solicitation
for selling and others for professional
investors

Stocks

3,458

8,590

5,132

5,504

Bonds

16,156

21,5105,354

20,637

13,307

21,147

7,840

20,158Fees for offering, secondary
distribution and solicitation for sellingand others for professional investors

Beneficiary certificates
Other fees received
Beneficiary certificates
Total

12,901

19,452

6,551

19,347

46,97657,148

10,171

67,035

14,71816,926

2,208

20,124

100,650

128,455

27,805

142,538(2) Breakdown by product(Millions of yen)First nine months of FY2020(From April 1, 2020
to December 31, 2020)

First nine months of FY2021(From April 1, 2021
to December 31, 2021)

Increase(Decrease)

FY2020(From April 1, 2020
to March 31, 2021)

Stocks25,92933,266

7,337

38,139Bonds

18,601

25,2796,677

23,787

Beneficiary certificates

28,41436,906

8,491

40,485

Other

27,70433,003

5,299

40,124

Total

100,650

128,455

27,805

142,538

㸰㸬Net trading income(Millions of yen)First nine months of FY2020(From April 1, 2020
to December 31, 2020)

First nine months of FY2021(From April 1, 2021
to December 31, 2021)

Increase(Decrease)

FY2020(From April 1, 2020
to March 31, 2021)

Stocks42,923(44,163)(87,087)

Bonds and other

64,288106,328

42,04053,462

Total

107,212

62,165(45,047)

136,957



83,495

<Reference>

Quarterly Trends in Consolidated Statements of Income(Millions of yen)
2Q of FY2021(July 1 to
September 30, 2021)

3Q of FY2021(October 1 to
December 31, 2021)

69,01592,233

94,27638,33744,06846,050

8,448

6,175

6,565

7,317

7,267

8,186

5,973

6,348

7,102

0

0

0

0

0

Commission for underwriting, secondary
distribution and solicitation for selling and othersfor professional investors

7,215

6,528

7,920

12,5809,600

䚷Stocks

1,875

2,046

1,267

4,317

3,006

䚷Bonds

5,340

4,481

6,652

8,263

6,594

Fees for offering, secondary distribution andsolicitation for selling and others for professional
investors

5,680

6,851

6,597

6,941

7,609

3Q of FY2020(October 1 to
December 31, 2020)

4Q of FY2020(January 1 toMarch 31, 2021)

88,795

107,542

37,81041,887

Brokerage commission

7,519

䚷Stocks
䚷BondsOperating revenue
Commission received

1Q of FY2021(April 1 toJune 30, 2021)

䚷Beneficiary certificates

5,360

6,446

6,446

6,425

6,580

Other fees received

17,39420,05917,644

17,981

21,522

䚷Beneficiary certificates
Net trading income

5,115

5,406

5,328

5,668

5,929

38,25629,745

12,944

19,331

29,889Net trading income from securities (stocks)

24,60340,571(13,314)

10,628(41,477)

Net trading income from bonds and other

13,652(10,826)

26,2598,702

71,367

12,72835,90917,73028,833

18,336

䠉

䠉

3

0

䠉

Financial expenses

557

6,703

19,8395,426

10,484

Net operating revenue

88,238100,838

49,17586,806

83,792

Selling, general and administrative expenses

69,25774,857

69,76866,924

71,220

Trading related expenses

14,391

17,552

13,60915,711

14,188Personnel expenses

28,21531,23527,82025,16728,722

Real estate expenses

5,891

5,896

6,105

5,933

5,746

Office cost

9,009

8,478

8,829

8,307

8,968

Depreciation

8,017

8,385

7,977

7,858

7,686

Taxes and dues

1,766

1,384

4,031

1,480

4,227

Other

1,963

1,924

1,394

2,466

1,680

Financial revenue
Other operating revenue

Operating profit (loss)

18,98025,981(20,592)

19,881

12,572Non-operating income

4,446

5,499

7,765

5,427

6,090

Non-operating expenses

54

118

402

(48)

331

23,37331,362(13,229)

25,357

18,331

Ordinary profit (loss)
Extraordinary income

㸫

㸫

㸫

126

㸫

Extraordinary losses

1,718

2,303

38

380

940

Profit (loss) before income taxes

21,65429,058(13,268)

25,104

17,391

Income taxes-current

7,054

7,588

(3,744)

6,853

6,619

Income taxes-deferred

(996)

260

923

(379)

(2,303)

Total income taxes

6,058

7,848

(2,821)

6,473

4,316

Profit (loss)

15,596

21,210(10,446)

18,63013,075

Profit attributable to non-controlling interests

5,241

7,078

3,667

5,950

3,724

Profit (loss) attributable to owners of parent

10,354

14,131(14,114)

12,680

9,350



<Reference>

Mitsubishi UFJ Morgan Stanley Securities, Co., Ltd.
for the Third Quarter of the Fiscal Year Ending March 31, 2022
(1) Non-consolidated operating results(Millions of yen)First nine months of FY2020 First nine months of FY2021(From April 1, 2021
(From April 1, 2020
to December 31, 2021)
to December 31, 2020)

Operating revenue
ࠉCommission received
ࠉNet trading income
Net operating revenue
Operating profit
Ordinary profit
Profit170,852
80,22675,337
163,334
18,177
20,2989,720

205,138
109,628
77,513
196,589
40,88443,32530,976FY2020(From April 1, 2020
to March 31, 2021)

Increase(Decrease)34,286
29,401
2,175
33,25522,70623,027
21,256

254,516
117,244
113,532
244,20939,356
41,93322,323(Breakdown of operating revenue)<Breakdown by item of commission received>(Millions of yen)First nine months of FY2020 First nine months of FY2021(From April 1, 2021
(From April 1, 2020
to December 31, 2021)
to December 31, 2020)

Brokerage commission
Commission for underwriting, secondary
distribution and solicitation for selling andothers for professional investors
Fees for offering, secondary distribution andsolicitation for selling and others for
professional investors

Other fees received
Total

FY2020(From April 1, 2020
to March 31, 2021)

Increase(Decrease)

16,431

15,888(542)

23,379

9,137

19,270

10,133

12,74011,883

21,147

9,264

18,73542,77480,22653,321
109,628

10,547
29,401

62,389117,244<Breakdown by product of commission received>(Millions of yen)First nine months of FY2020 First nine months of FY2021(From April 1, 2020
(From April 1, 2021
to December 31, 2020)
to December 31, 2021)

Stocks
Bonds
Beneficiary certificates
Other
Total

21,507
8,680
24,73025,30880,22628,865
15,45036,38728,924
109,628

Increase(Decrease)

7,358
6,769
11,657
3,616
29,401

FY2020(From April 1, 2020
to March 31, 2021)

32,215
11,39036,65036,988117,244<Net trading income>(Millions of yen)First nine months of FY2020 First nine months of FY2021(From April 1, 2020
(From April 1, 2021
to December 31, 2020)
to December 31, 2021)

StocksBonds and other
Total

ࠉࠉࠉ
ࠉࠉࠉ

25,664
49,67275,337

18,10859,40477,513

Increase(Decrease)(7,556)
9,731
2,175

FY2020(From April 1, 2020
to March 31, 2021)

36,19577,336
113,532(2) Non-consolidated financial position(Millions of yen)

Total assets
Net assets

As of December 31, 2020

As of December 31, 2021

19,170,663
413,508

17,713,674
414,660



Increase(Decrease)(2,058,878)(11,607)

As of March 31, 2021

19,772,553
426,267