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.

July 29, 2020

Consolidated Financial Results
for the First Quarter of the Fiscal Year Ending March 31, 2021
[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 first quarter of fiscal year 2020
(from April 1, 2020 to June 30, 2020)(1) Consolidated operating results (cumulative)
Operating revenue
Millions of yen(Percentages indicate year-on-year changes.)

Net operating revenue% Millions of yen

Operating profit% Millions of yen

First three months of
FY2020107,264

9.6

64,599(3.3)

929

First three months of
FY201997,828

5.6

66,830(22.3)(4,301)

Profit attributable toowners of parent
Millions of yen%

Basic earnings
per share
Yen

4,359

478.7

5.92

First three months of
FY2019753(91.1)

1.02

Comprehensive income

First three months of FY2020:
First three months of FY2019:% Millions of yen

599

Yen

1.02

(13,304) million yen
7,021 million yen

%
14.7%

(2) Consolidated financial position
Total assets

Net assets%

6,181 930.5

Diluted earnings
per shareFirst three months of
FY2020(Note)

Ordinary profit

Equity ratio

Millions of yen

Millions of yen%

As of June 30, 2020

32,088,968

919,183

2.0

As of March 31, 2020

31,866,151

943,963

2.1(Reference) Equity As of June 30, 2020: 652,381 million yen
As of March 31, 2020: 673,866 million yen(Note)“Equity ratio” is computed under the formula shown below:(Total net assets – Share acquisition rights – Non-controlling interests) / Total assets(96.1)

*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:Noneb. 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
(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 June 30, 2020

736,985,496 shares

As of March 31, 2020

736,985,496 shares

Number of shares of treasury stock at the end of the period
As of June 30, 2020

– shares

As of March 31, 2020

– sharesAverage number of shares during the period (cumulative from the beginning of the fiscal year)
First three months of the fiscal year ending March 31, 2021

736,985,496 sharesFirst three months of the fiscal year ended March 31, 2020

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<Reference>
Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2021
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 First Quarter of the Fiscal Year Ending
March 31, 2021
(1) Consolidated operating results- - --- - -- - --- - -- - --- -7(2) Consolidated financial position- - --- - -- - --- - -- - --- -7(3) Non-consolidated operating results- - --- - -- - --- - -- - --- -8(4) Non-consolidated financial position- - --- - -- - --- - -- - --- -8

Consolidated financial statements and primary notes(1) Consolidated balance sheets(Millions of yen)
As of March 31, 2020

As of June 30, 2020

ASSETS
Current assets
Cash and deposits

2,185,650

Cash segregated as deposits
Trading products

1,374,185

858,165

907,311

12,869,831

15,161,046

Trading securities and other

4,727,433

6,376,389

Derivatives

8,142,397

8,784,656

Trade date accrual

552,675

1,273,011

Margin transaction assets

214,735

224,094

Loans secured by securities

13,241,266

11,159,065

Short-term guarantee deposits

1,016,119

1,130,696

5,618
5,459

33,421
7,961

Other current assets

288,824

187,359

Total current assets

31,238,347

31,458,153

Short-term investment securities
Income taxes receivable

Non-current assets
Property, plant and equipment

32,08830,687

Intangible assets

106,827

104,687

Investments and other assets

488,887

495,440

Total non-current assets

627,804

630,815

31,866,151

32,088,968

Total assets- 1 -(Millions of yen)
As of March 31, 2020

As of June 30, 2020

LIABILITIESCurrent liabilities
Trading products

11,765,256

12,346,122

4,002,899

3,790,016

Derivatives
Margin transaction liabilities

7,762,356
179,2078,556,106
141,011

Borrowings secured by securities

10,234,296

11,636,314

Short-term borrowings

3,259,551

1,559,676

Current portion of bonds

276,710

293,385

Current portion of long-term borrowings

115,501

106,148

Commercial papers

729,871

522,449

Income taxes payable

Trading securities and other

7,417

4,007

Provision for contingent loss

680

607

Asset retirement obligations

103

49

Other current liabilities

2,559,489

2,813,585

Total current liabilities

29,128,086

29,423,358

1,017,479

963,255

753,034

760,219

2,641

2,536

Non-current liabilities
Bonds payable
Long-term borrowings
Net defined benefit liability
Provision for directors’ retirement benefits
Asset retirement obligations

93

82

7,787

7,824

Other non-current liabilities

8,795

8,128

Total non-current liabilities

1,789,832

1,742,047

4,269

4,378

4,269

4,378

30,922,188

31,169,785

Reserves under special laws
Reserve for financial instruments transaction
liabilities
Total reserves under special laws
Total liabilities
NET ASSETS
Shareholders’ equity
Share capital

75,51875,518

Capital surplus

434,441

434,441

Retained earnings

191,165

187,610

Total shareholders’ equity

701,126

697,570

Valuation difference on available-for-sale securities

571

595

Deferred gains or losses on hedges

20

21(28,417)(46,366)

Accumulated other comprehensive income

Foreign currency translation adjustment
Remeasurements of defined benefit plans

566

560

(27,259)(45,189)

Non-controlling interests

270,096

266,802

Total net assets

943,963919,183

31,866,151

32,088,968

Total accumulated other comprehensive income

Total liabilities and net assets- 2 -(2) Consolidated statements of income and Consolidated statements of comprehensive income
Consolidated statements of income (cumulative)

First three months of FY2019(From April 1, 2019
to June 30, 2019)
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 (loss)
Non-operating income
Share of profit of entities accounted for using equity method
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Loss on investments in money held in trust
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Reversal of reserve for financial instruments transaction liabilities
Total extraordinary income
Extraordinary losses
Loss on valuation of investment securities
Impairment loss
Provision of reserve for financial instruments transaction liabilities
Other
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- 3 -(Millions of yen)First three months of FY2020(From April 1, 2020
to June 30, 2020)

32,012
32,11433,698
4
97,82830,997
66,83071,132(4,301)29,014
31,676
46,5684
107,264
42,66564,59963,669
929

3,676
430
826
4,934

1,758
1,927
2,153
5,839

0
31
32
599

492
95
587
6,181

1
1
20
201
43
265
336
416
(858)
(441)
777
24
753

0
108
29
138
6,043
1,451
74
1,526
4,516
156
4,359

Consolidated statements of comprehensive income (cumulative)(Millions of yen)First three months of FY2019(From April 1, 2019
to June 30, 2019)

First three months of FY2020(From April 1, 2020
to June 30, 2020)

777

4,516

(351)
24
6,561
10
6,243
7,021

136
1
(17,948)(10)(17,821)(13,304)

7,154
(132)

(13,570)
265

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

- 4 -

<Reference>

Consolidated Financial Results
for the First Quarter of the Fiscal Year Ending March 31, 2021
1. Commission received(1) Breakdown by item
(Millions of yen)First three months of FY2019(From April 1, 2019
to June 30, 2019)

Brokerage commission

First three months of FY2020(From April 1, 2020
to June 30, 2020)

FY2019(From April 1, 2019
to March 31, 2020)

Increase(Decrease)

5,771

6,995

1,224

27,228Stocks

5,558

6,572

1,014

26,053

Bonds

0

1

1

3

8,805

4,339

(4,465)28,560Commission for underwriting,secondary distribution and solicitation
for selling and others for professional
investors

Stocks2,614

70(2,543)

6,557

Bonds

6,190

4,269

(1,921)

22,002

3,366

2,912

(453)

17,346

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

Beneficiary certificates
Other fees received
Beneficiary certificates
Total

2,757

2,885

128

15,37814,06814,766697

70,156

5,291

4,615

(676)

21,37232,01229,014(2,997)143,291(2) Breakdown by product(Millions of yen)First three months of FY2019(From April 1, 2019
to June 30, 2019)

First three months of FY2020(From April 1, 2020
to June 30, 2020)

Increase(Decrease)

FY2019(From April 1, 2019
to March 31, 2020)

Stocks

8,707

6,911

(1,795)35,721

Bonds

6,649

5,198

(1,451)25,782

Beneficiary certificates

8,235

7,869

(365)

37,765

Other

8,419

9,034

615

44,021

Total

32,01229,014(2,997)143,291

Net trading income(Millions of yen)First three months of FY2019(From April 1, 2019
to June 30, 2019)

First three months of FY2020(From April 1, 2020
to June 30, 2020)

Increase(Decrease)

FY2019(From April 1, 2019
to March 31, 2020)

Stocks26,458(13,158)(39,617)59,510Bonds and other

5,655

44,83539,18090,158

Total

32,114

31,676(437)

149,668- 5 -<Reference>

Quarterly Trends in Consolidated Statements of Income(Millions of yen)
1Q of FY2019(April 1 toJune 30, 2019)

2Q of FY2019(July 1 to
September 31, 2019)

3Q of FY2019(October 1 to
December 31, 2019)

4Q of FY2019(January 1 toMarch 31, 2020)

97,828106,826

117,999

133,125

107,264

32,012

36,11737,72037,44129,014

Brokerage commission

5,771

6,281

7,253

7,922

6,995

Stocks

5,558

6,040

7,051

7,404

6,572

Bonds

0

0

0

1

1

8,805

7,174

6,864

5,716

4,339

Stocks

2,614

1,241

1,103

1,597

70

Bonds

6,190

5,932

5,760

4,118

4,269

3,366

4,778

4,964

4,236

2,912

Operating revenue
Commission received

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

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

1Q of FY2020(April 1 toJune 30, 2020)

Beneficiary certificates

2,757

4,356

4,445

3,818

2,885

Other fees received

14,06817,882

18,63819,566

14,766

Beneficiary certificates
Net trading income

5,291

5,422

5,475

5,183

4,615

32,11433,55537,162

46,836

31,676

Net trading income from securities (stocks)

26,458

6,041

15,183

11,825(13,158)

Net trading income from bonds and other

5,655

27,513

21,97835,01044,83533,69837,153

43,116

48,84846,56840

Financial expenses

30,99732,02331,93738,65842,665

Net operating revenue

66,83074,802

86,062

94,46764,599Selling, general and administrative expenses

71,132

71,37075,09675,987

63,669Trading related expenses

17,687

19,297

21,876

21,037

12,829Personnel expenses

26,18327,54327,94428,97824,415

Real estate expenses

6,296

5,983

6,051

6,044

5,776

Office cost

8,475

7,665

8,001

7,993

8,031

Depreciation

7,654

7,505

7,478

8,051

7,598

Taxes and dues

3,046

1,376

1,819

1,587

2,626

Other

1,788

1,997

1,925

2,294

2,391

Financial revenue
Other operating revenue

4

Operating profit (loss)(4,301)

3,432

10,96618,480929

Non-operating income

4,934

6,055

3,426

7,126

5,839

Non-operating expenses

32

75

72

1,438

587

Ordinary profit

599

9,412

14,32024,1696,181

Extraordinary income

1

531

Extraordinary losses

265

345

40

1,819

138

Profit before income taxes

336

9,598

14,28023,519

6,043

Income taxes-current

416

1,590

3,088

5,149

1,451

Income taxes-deferred

(858)

1,276

2,443

2,282

74

Total income taxes

(441)

2,867

5,532

7,432

1,526

Profit

777

6,731

8,747

16,086

4,516

Profit attributable to non-controlling interests

24

3,297

2,385

5,492

156

Profit attributable to owners of parent

753

3,433

6,362

10,594

4,359

- 6 -

1,169

<Reference>

Mitsubishi UFJ Morgan Stanley Securities, Co., Ltd.
for the First Quarter of the Fiscal Year Ending March 31, 2021
(1) Consolidated operating results(Millions of yen)First three months of FY2019 First three months of FY2020(From April 1, 2019
(From April 1, 2020
to June 30, 2019)
to June 30, 2020)

Operating revenue
Commission received
Net trading income
Net operating revenue
Operating profit (loss)
Ordinary profit (loss)

52,91826,924
21,366
51,466(2,645)(2,135)(1,662)

Profit (loss) attributable to owners of parent

48,60823,876
21,79647,761
385
899
1,028

FY2019(From April 1, 2019
to March 31, 2020)

Increase(Decrease)(4,309)(3,048)429(3,704)
3,030
3,035
2,690

246,946
122,539
101,599
241,541
17,493
19,765
13,158(Breakdown of operating revenue)<Breakdown by item of commission received>(Millions of yen)First three months of FY2019 First three months of FY2020(From April 1, 2019
(From April 1, 2020
to June 30, 2019)
to June 30, 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

FY2019(From April 1, 2019
to March 31, 2020)

Increase(Decrease)

4,308

5,496

1,188

20,928

5,881

1,354

(4,526)

16,391

3,339

2,912

(426)

17,256

13,39526,924

14,112
23,876716(3,048)67,962
122,539<Breakdown by product of commission received>(Millions of yen)First three months of FY2019 First three months of FY2020(From April 1, 2019
(From April 1, 2020
to June 30, 2019)
to June 30, 2020)

Stocks
Bonds
Beneficiary certificates
Other
Total

7,094
3,882
8,052
7,895
26,924

5,373
2,504
7,740
8,257
23,876FY2019(From April 1, 2019
to March 31, 2020)

Increase(Decrease)(1,720)(1,377)(312)362(3,048)29,11914,28137,06942,068
122,539<Net trading income>(Millions of yen)First three months of FY2019 First three months of FY2020(From April 1, 2019
(From April 1, 2020
to June 30, 2019)
to June 30, 2020)

StocksBonds and other
Total

5,845
15,52021,366FY2019(From April 1, 2019
to March 31, 2020)

Increase(Decrease)

4,926
16,86921,796

(919)
1,348
429

25,87275,727
101,599(2) Consolidated financial position(Millions of yen)
As of June 30, 2019

Total assets
Net assets

As of June 30, 2020

14,373,207
395,71418,803,716
388,313- 7 -Increase(Decrease)919,449(4,461)

As of March 31, 2020

17,884,267
392,774

<Reference>(3) Non-consolidated operating results(Millions of yen)First three months of FY2019 First three months of FY2020(From April 1, 2019
(From April 1, 2020
to June 30, 2019)
to June 30, 2020)

Operating revenue
Commission received
Net trading income
Net operating revenue
Operating profit (loss)
Ordinary profit (loss)
Profit (loss)

46,65823,62017,65644,430(4,097)(1,613)(352)

43,47520,94817,85240,913(2,261)(1,499)(494)

FY2019(From April 1, 2019
to March 31, 2020)

Increase(Decrease)(3,182)(2,671)
196(3,517)
1,835
114
(142)

219,907
107,31385,060209,721
9,660
14,61011,299(Breakdown of operating revenue)<Breakdown by item of commission received>(Millions of yen)First three months of FY2019 First three months of FY2020(From April 1, 2019
(From April 1, 2020
to June 30, 2019)
to June 30, 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

FY2019(From April 1, 2019
to March 31, 2020)

Increase(Decrease)

4,172

5,259

1,087

20,220

5,881

1,354

(4,526)

16,391

1,895

1,990

94

10,133

11,671
23,62012,34420,948673(2,671)60,567
107,313<Breakdown by product of commission received>(Millions of yen)First three months of FY2019 First three months of FY2020(From April 1, 2019
(From April 1, 2020
to June 30, 2019)
to June 30, 2020)

Stocks
Bonds
Beneficiary certificates
Other
Total

6,972
3,698
5,345
7,605
23,620

5,165
2,502
5,416
7,864
20,948FY2019(From April 1, 2019
to March 31, 2020)

Increase(Decrease)(1,806)(1,195)71
258(2,671)

28,497
13,272
24,86040,682
107,313<Net trading income>(Millions of yen)First three months of FY2019 First three months of FY2020(From April 1, 2019
(From April 1, 2020
to June 30, 2019)
to June 30, 2020)

StocksBonds and other
Total

5,696
11,95917,656FY2019(From April 1, 2019
to March 31, 2020)

Increase(Decrease)

4,863
12,98917,852

(832)
1,029
196

25,52359,53785,060(4) Non-consolidated financial position(Millions of yen)
As of June 30, 2019

Total assets
Net assets

As of June 30, 2020

14,280,810
398,687

18,692,062
403,361- 8 -Increase(Decrease)906,453(5,973)As of March 31, 2020

17,785,608
409,334