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.

April 28, 2016

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2016
[under Japanese GAAP]
Company name: Mitsubishi UFJ Securities Holdings Co., Ltd.
URL:
http://www.hd.sc.mufg.jp/
Representative: Takashi Nagaoka, President & CEO
Contact:
Shinjiro Yamamoto, General Manager, Financial Planning Division
TEL: (03) 6213-2550
Scheduled date of General Shareholders’ Meeting:June 28, 2016
Scheduled date to file Securities Report:
June 28, 2016
Supplementary material on financial results: Yes
Financial results presentation meeting:
None(Millions of yen with fractional amounts disregarded)

1.

Consolidated performance for the fiscal year 2015
(from April 1, 2015 to March 31, 2016)(1) Consolidated operating results(Percentages indicate year-on-year changes.)

Operating revenue
Millions of yen

Net operating revenue% Millions of yen

Operating income% Millions of yen%

FY2015474,449(1.7)

437,742

0.5

80,687(11.0)

107,857(6.2)

FY2014

482,541(1.1)

435,757(3.3)

90,683(32.3)

114,930(29.6)

Profit attributable toowners of parent% Millions of yen

Ordinary income

Basic earnings
per share

Profit attributable toowners of parent/equity
Yen
%
–
5.6
–
6.5
FY2014: 107,749 million yen (43.7)%

Diluted earnings
per share

Yen
Millions of yen%
43,262 (15.2)
FY201558.70
50,995 (47.8)
FY2014
69.19(Note)
Comprehensive income
FY2015: 50,175 million yen (53.4)%(Reference) Equity in earnings (losses) of affiliates FY2015: 19,578 million yen
FY2014: 15,197 million yen(2) Consolidated financial position
Total assets

Net assets

Equity ratio

Net assets per share

As of March 31, 2016

Millions of yen
31,023,040

Millions of yen
1,033,030

%
2.5

Yen
1,053.38

As of March 31, 2015

29,993,106

1,025,771

2.6

1,052.85(Reference) Equity
As of March 31, 2016: 776,325 million yen
As of March 31, 2015: 775,934 million yen(Note)“Equity ratio” is computed under the formula shown below:(Total net assets – Subscription rights to shares – Non-controlling interests) / Total assets

<* Notes>(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries
resulting in the change in scope of consolidation): None
(2) 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
(3) 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 March 31, 2016

736,985,496 shares

As of March 31, 2015

736,985,496 shares

Number of shares of treasury stock at the end of the period
As of March 31, 2016

– shares

As of March 31, 2015

– sharesAverage number of shares during the period
Fiscal year ended March 31, 2016

736,985,496 sharesFiscal year ended March 31, 2015

736,985,496 shares<* Indication regarding execution of audit procedures >This financial results report is exempt from the audit procedures pursuant to the Financial
Instruments and Exchange Act. At the time of disclosure of this financial results report, the audit
procedures for consolidated financial statements are in progress.
<* Other special matters >NoneAttached Material

Index
1. Consolidated financial statements(1) Consolidated balance sheets--------------------

P. 1(2) Consolidated statements of income and Consolidated statements of comprehensive income
Consolidated statements of income--------------------

P. 4

Consolidated statements of comprehensive income--------------------

P. 5--------------------

P. 6

2. Notes on premise of going concern--------------------

P. 7

3. Key items forming the basis of preparation of consolidated financial
statements--------------------

P. 7(Segment information)--------------------

P. 9(Per share information)--------------------

P. 11(1) Breakdown by item--------------------

P. 12(2) Breakdown by product--------------------

P. 12

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

P. 12

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

P. 13(3) Consolidated statements of changes in equity

4. Notes to consolidated financial statements<Reference>
Consolidated Financial Results for the Fiscal Year Ended March 31, 2016
1. Commission received<Reference>
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. for the Fiscal Year Ended March 31, 2016
(1) Consolidated operating results--------------------

P. 14(2) Consolidated financial position--------------------

P. 14(3) Non-consolidated operating results--------------------

P. 15(4) Non-consolidated financial position--------------------

P. 15

1. Consolidated financial statements(1) Consolidated balance sheets(Millions of yen)
As of March 31, 2015
ASSETS
Current assets
Cash and deposits
Cash segregated as deposits
Trading products
Trading securities and other
Derivatives
Trade date accrual
Margin transaction assets
Loans on margin transactions
Cash collateral pledged for securities
borrowing on margin transactions
Loans secured by securities
Cash collateral pledged for securities
borrowed
Loans on Gensaki transactions
Advances paid
Short-term guarantee deposits
Short-term loans receivable
Short-term investment securities
Income taxes receivable
Deferred tax assets
Other current assets
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings
Equipment
Land
Construction in progress
Other
Intangible assets
Software
Other
Investments and other assets
Investment securities
Long-term loans receivable
Net defined benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Total non-current assets
Total assets

1

As of March 31, 2016

1,157,151
177,256
15,525,224
6,038,094
9,487,129－
51,85946,1071,202,126
609,108
14,549,323
3,082,614
11,466,709
159,535
260,890
210,157

5,752

50,732

11,270,365

12,304,282

4,304,370

4,648,830

6,965,994
7,353
901,937
8,637
160,477
401
21,537
117,585(2)29,399,786

7,655,452
4,986
944,504
133
180,930
1,862
22,560116,868(0)30,357,113

33,624
16,662
11,537
4,917
506－
55,15037,78017,369504,546
473,485
161
4,674
4,807
22,332(914)
593,320
29,993,106

37,50818,61012,162
4,724
1,797
213
100,035
62,27737,758528,383
497,255
31
4,284
4,551
23,873(1,613)665,927
31,023,040

(Millions of yen)
As of March 31, 2015

As of March 31, 2016

LIABILITIESCurrent liabilities
Trading products

11,921,542

12,932,406

Trading securities and other

2,607,193

1,730,053
11,202,353

Derivatives

9,314,349

Trade date accrual

674,240－

Margin transaction liabilities

30,470162,002

4,750

33,92625,719128,075

10,739,998

11,172,507

Borrowings on margin transactions
Cash received for securities lending on margintransactions
Loans payable secured by securities
Cash received on debt credit transaction of securities

3,243,826

2,590,459

Borrowings on Gensaki transactions

7,496,172

8,582,047

Deposits received

188,663433,688

Guarantee deposits received

1,312,046

1,559,515

Short-term loans payable

1,308,395

1,147,689

Current portion of bonds

129,932

169,048

Current portion of long-term loans payable

123,680

71,548Commercial papers

903,031735,924

Income taxes payable

24,037

12,084

Provision for bonuses

38,86436,400360

1,055

Asset retirement obligations
Other current liabilities

187,668

135,409

Total current liabilities

27,582,932

28,569,280

Bonds payable

949,993

918,311Long-term loans payable

416,856

488,815

Deferred tax liabilities

4,883

1,390

Net defined benefit liability

3,875

1,826

Non-current liabilities

Provision for directors’ retirement benefits
Asset retirement obligations

166

19

6,589

5,629

Other non-current liabilities

312

504

Total non-current liabilities

1,382,676

1,416,497

1,725

4,232

Reserves under the special laws
Reserve for financial products transaction
liabilities
Total reserves under the special laws
Total liabilities

2

1,725

4,232

28,967,334

29,990,010

(Millions of yen)
As of March 31, 2015

As of March 31, 2016

NET ASSETS
Shareholders’ equity
Capital stock

75,51875,518

Capital surplus

452,817451,480

Retained earnings

207,098

228,089

Total shareholders’ equity

735,434

755,089

8,833

690

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

(134)

(37)

Foreign currency translation adjustment

28,811

19,508Remeasurements of defined benefit plans

2,988

1,074

Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

340,49921,236249,837

256,704

1,025,771

1,033,030

29,993,106

31,023,040

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

For the fiscal year ended
March 31, 2015
(From April 1, 2014
to March 31, 2015)
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
Trading related expenses
Personnel expenses
Real estate expenses
Office cost
Depreciation
Taxes and dues
Other
Total selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Share of profit of entities accounted for using equity method
Other
Total non-operating income
Non-operating expenses
Loss on valuation of derivatives
Loss on retirement of non-current assets
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sales of investment securities
Gain on sales of non-current assets
Total extraordinary income
Extraordinary losses
Loss on sales of investment securities
Loss on valuation of investment securities
Loss on sales of non-current assets
Impairment loss
Loss on change in equity
Provision of reserve for financial products 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

4(Millions of yen)
For the fiscal year ended
March 31, 2016
(From April 1, 2015
to March 31, 2016)

231,825
177,948
72,785(17)482,541
46,784435,757

226,105
178,770
69,573
0474,449
36,706
437,742

109,339
145,303
22,61633,12315,150
11,3908,150
345,074
90,683

122,518
133,462
26,69633,844
21,077
10,0899,365
357,055
80,687

5,072
15,197
6,570
26,8404,148
19,578
4,158
27,885

545
384
1,663
2,593
114,930

195
269
249
715
107,857

9,401
4
9,406

275
－
275

195
8
3
1,771
－
392
72
2,444
121,893
33,461
4,287
37,74884,14433,14950,995

26
23
－
710
1,884
460
408
3,513
104,619
35,556(1,585)33,97170,647
27,38443,262

Consolidated statements of comprehensive income

For the fiscal year ended
March 31, 2015
(From April 1, 2014
to March 31, 2015)
84,144

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
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income(Comprehensive income attributable to)Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests

5(Millions of yen)
For the fiscal year ended
March 31, 2016
(From April 1, 2015
to March 31, 2016)
70,6472,599(110)
20,056
1,003(7,567)31(9,311)(3,138)54(485)

23,604
107,749(20,471)
50,17575,37432,37423,99926,175

(3) Consolidated statements of changes in equity
For the fiscal year ended March 31, 2015 (From April 1, 2014 to March 31, 2015)(Millions of yen)
Shareholders’ equity

Capitalstock

Accumulated other comprehensive income
Valuationdifference
Totalonshareholders’availableequity
for-salesecurities

Deferred
gains orlosses onhedges

NonTotal
Foreign
Remeasurements accumulated controllingcurrencyinterests
otherof definedtranslation
benefit plans comprehensive
adjustment
incomeTotal net
assetsCapitalsurplusRetainedearnings

426,948

266,850

769,317

25,209(31,107)(5,898)452,158

235,742

763,419

Dividends from surplus(79,638)(79,638)(79,638)

Profit attributable to owners of parent

50,99550,99550,995659

659

Balance at the beginning of current period

75,518Cumulative effects ofchanges in accounting policies
Restated balance

75,518

4,893

4,893

(38)

(38)

8,872

8,872

2,391

2,391

16,11916,119282,654

1,068,092(6,630)(12,529)

276,024

1,055,563

Changes of items during the period

Additional purchase of investments
in subsidiaries

659

Net changes of items other thanshareholders' equity(96)

19,938597

24,379(26,186)(1,806)－659(28,643)(27,984)

3,940

(96)

19,938597

24,379(26,186)(29,791)

75,518452,817

207,098

735,434

8,833

(134)

28,811

2,988

40,499249,837

1,025,771

Total changes of items during the period
Balance at the end of current period

3,940

For the fiscal year ended March 31, 2016 (From April 1, 2015 to March 31, 2016)(Millions of yen)
Shareholders’ equity

Capitalstock

Accumulated other comprehensive income
Valuationdifference
Totalonshareholders’availableequity
for-salesecurities

Deferred
gains orlosses onhedges

NonTotal
Foreign
Remeasurements accumulated controllingcurrencyinterests
otherof definedtranslation
benefit plans comprehensive
adjustment
incomeTotal net
assetsCapitalsurplusRetainedearnings

452,817

207,098

735,434－－－

452,817

207,098

735,434

Dividends from surplus(22,271)(22,271)(22,271)

Profit attributable to owners of parent

43,26243,26243,262(1,336)(1,336)

Balance at the beginning of current period

75,518Cumulative effects ofchanges in accounting policies
Restated balance

75,518

8,833

8,833

(134)

(134)

28,811

28,811

2,988

2,988

40,49940,499249,837

1,025,771－－

249,837

1,025,771

Changes of items during the period

Additional purchase of investments
in subsidiaries(1,336)

Net changes of items other thanshareholders' equity
Total changes of items during the period
Balance at the end of current period(8,143)97(9,302)(1,914)(19,262)

6,866(12,396)－(1,336)20,991

19,654(8,143)97(9,302)(1,914)(19,262)

6,866

7,258

75,518451,480

228,089

755,089690(37)

19,508

1,074

21,236

256,704

1,033,030

6

2.

Notes on premise of going concern
None

3.

Key items forming the basis of preparation of consolidated financial statements
1. Scope of consolidation
Number of consolidated subsidiaries: 13 companies (previous year: 13 companies)
Names of consolidated subsidiaries
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.
Mitsubishi UFJ Morgan Stanley PB Securities Co., Ltd.
kabu.com Securities Co., Ltd.
MUS Business Service Co., Ltd.
MUS Information Systems Co., Ltd.
Mitsubishi UFJ Securities International plc
Mitsubishi UFJ Wealth Management Bank (Switzerland), Ltd.
Mitsubishi UFJ Securities (USA), Inc.
MUFG Securities (Canada), Ltd.
Mitsubishi UFJ Securities (HK) Holdings, Limited
Mitsubishi UFJ Securities (HK), Limited
Mitsubishi UFJ Securities (Singapore), Limited
MM Partnership(Addition)kabu.com Securities Co., Ltd.
The above company was included in the scope of consolidation since the Company made an additionalpurchase of its shares.
MUFG Securities (Canada), Ltd.
The above company was newly consolidated upon its establishment.
(Exclusion)
KOKUSAI Asset Management Co., Ltd.
The above company was excluded from the scope of consolidation due to a merger with Mitsubishi
UFJ Asset Management Co., Ltd. as the surviving company and KOKUSAI Asset Management Co.,
Ltd. as the absorbed company.
TMI Nominees Limited
The above company was excluded from the scope of consolidation due to completion of liquidation.

2. Application of the equity method
Number of affiliates under the equity method: 3 companies (previous year: 2 companies)
Names of affiliates under the equity method
Morgan Stanley MUFG Securities Co., Ltd.
Mitsubishi UFJ Kokusai Asset Management Co., Ltd.

Marunouchi Capital Co., Ltd.
(Addition)
Mitsubishi UFJ Kokusai Asset Management Co., Ltd.
The above company was included in the scope of affiliates under equity method due to a merger with
Mitsubishi UFJ Asset Management Co., Ltd. as the surviving company and KOKUSAI AssetManagement Co., Ltd. as the absorbed company. On July 1, 2015, Mitsubishi UFJ Asset Management
Co., Ltd. has changed its trade name to Mitsubishi UFJ Kokusai Asset Management Co., Ltd.

7

3. Financial closing dates and other details of consolidated subsidiaries
The financial closing dates of consolidated subsidiaries are as follows.
End of December 8 subsidiaries
End of March
5 subsidiaries
Of the consolidated subsidiaries whose financial closing date differs from the consolidated
financial closing date, 8 subsidiaries for which the difference in closing dates was three months orless were accounted for based on the financial statements as of the financial closing date of eachsubsidiary. However, necessary adjustments were made to the consolidated financial statements
for any significant transactions that took place between the end of the fiscal year of eachsubsidiary and the end of the consolidated fiscal year.
4. Accounting policies
Major hedge accounting(1) Hedge accounting
The fair value hedge and the deferred hedge that specify foreign exchange contracts,
interest rate swaps and stock index futures as hedging instruments are applied.
(2) Hedging instruments and hedged items
a. Exchange rate volatility risk
Hedging instruments
Foreign exchange contracts
Hedged items
Foreign currency denominated financial assets (short-term investment securities andinvestment securities)
b. Interest rate volatility risk
Hedging instruments
Interest rate swaps
Hedged items
Short-term investment securities and investment securities
c. Stock price volatility risk
Hedging instruments
Stock index futures
Hedged items
Investment securities(3) Hedging policy
Foreign exchange contracts are used to avoid the exchange rate volatility risk in part offoreign currency denominated financial assets, while interest rate swap contracts are used
to avoid the interest rate volatility risk in some short-term investment securities andinvestment securities, and stock index futures are used to avoid the stock price volatility
risk in some investment securities. As such, hedged items are identified on an individual
contract basis.
(4) Method of assessing the effectiveness of hedging activities
The effectiveness of hedged items and hedging instruments is periodically assessed.

Disclosure of the items other than above was omitted because there were no significant changes from thelatest Securities Report (submitted on June 24, 2015).

8

4.

Notes to consolidated financial statements(Segment information)
For the fiscal year ended March 31, 2016 (From April 1, 2015 to March 31, 2016)
1. Overview of reportable segments
The Group identifies a reportable segment as a component unit that constitutes a business for which
discrete financial information is available and is regularly reviewed by the Board of Directors to makedecisions about the allocation of resources to the segment and assess its performance.
The Group is engaged in business activities centered on the financial instruments business in many areasand provides investment and financing-related services. While promoting cooperation among Group
companies under control, the Company, as a holding company, makes decisions about the allocation of
resources and assesses the performance of each Group company by type of service.
Therefore, the Group’s segments are distinguished by the type of service and the geographic area, and thus
the following is identified as reportable segments: “Securities Brokerage (Japan),” “Securities Brokerage(U.K.)” and “Securities Brokerage (U.S.A.).”“Securities Brokerage” provides customers with broader investment and financing services from both
funding and investment aspects.
Moreover, KOKUSAI Asset Management Co., Ltd., which was a consolidated subsidiary of the Company,
was dissolved on July 1, 2015 in a merger with Mitsubishi UFJ Asset Management Co., Ltd. (its name has
now changed to Mitsubishi UFJ Kokusai Asset Management Co., Ltd.) as the surviving company and
KOKUSAI Asset Management Co., Ltd. as the absorbed company, and consequently the Company's
categories for administration of subsidiaries were reviewed. As a result, the financial information that waspreviously shown as “Asset Management” is included in “Other.”
2. The calculation method of net operating revenue, profit or loss, assets and other items by reportablesegment
Accounting policies for business segment reported are consistent with “Key items forming the basis ofpreparation of consolidated financial statements.” Profit or loss of a reportable segment is the amountbased on the profit or loss after applicable taxes. Inter-segment net operating revenue and transfers are
based on actual market prices.

93. Information about net operating revenue, profit or loss, assets and other items by reportablesegment(Millions of yen)Amounts on
consolidated
Adjustment
financial(Note 2)statements(Note 3)

Reportable segment
Securities
Brokerage(Japan)Securities
Brokerage(U.K.)Net operating revenue
Net operating revenue
351,744
31,049from external customers
Inter-segment net
operating revenue or
1,993
7,100
transfers
Total
353,737
38,149Segment profit (loss)
63,710(342)
Segment assets
14,878,394 12,903,854
Other items:
Depreciation
17,4682,505
Amortization of––
goodwillInterest income
1
4,061
Interest expenses––
Share of profit (loss)of entities accounted––
for using equity
methodExtraordinary income
2,689–
Gain on sales of
2,689–
investment securities
Extraordinary losses
1,375
46
Impairment loss
667
21
Loss on change in––equityProvision of reservefor financial products
460–
transaction liabilities
Taxes
30,250427
Investment to entities
accounted for using the––equity method
Increase in property,
plant and equipment
39,8073,181
and intangible assets

Total

Other
(Note 1)

Total

43,524426,317

11,424

437,742–437,742

1,356

10,45026,75537,205(37,205)–

44,881
436,768
4,201
67,5694,121,023 31,903,272

38,180106,649
2,240,562

474,948
174,218
34,143,835(37,205)(130,955)(3,120,795)

437,742
43,262
31,023,040

Securities
Brokerage(U.S.A.)

469

20,442

1,007

21,450(372)

21,077

–

–

–

–

2,077

2,077

–
–

4,063
–

84
43

4,148
43

–
(43)

4,148
–

–

–

–

–

19,57819,578

–

2,689

74

2,763

(2,488)

275

–

2,689

74

2,763

(2,488)

275

–
–

1,421
689

1,088
21

2,510
710

1,002
(0)

3,513
710

–

–

–

–

1,884

1,884

–

460

–

460

–

460

2,724

33,403

1,133

34,536(565)

33,971––

441,869

441,869(154,420)

287,449

4,503

47,491

1,753

49,245(362)

48,882(Notes) 1. “Other” includes the holding company of securities companies and others.
2. Adjustment includes the following:(1) Adjustment to segment profit (loss), amounting to (130,955) million yen, includes (118,029) million
yen of eliminations of inter-segment transactions and (7,241) million yen of share of profit (loss) ofentities accounted for using equity method, taxes and profit attributable to non-controlling interests
all of which were not allocated to each segment.
(2) Adjustment to segment assets is mainly eliminations of assets and liabilities between segments.
3. Segment profit is adjusted to be consistent with profit attributable to owners of parent for the fiscal year
ended March 31, 2016.

10

(Per share information)
FY2015(From April 1, 2015
to March 31, 2016)

Net assets per share (Yen)

1,053.38

Basic earnings per share (Yen)

58.70(Notes) 1. Diluted earnings per share is not presented since there were no potential shares.
2. The basis of calculation for basic earnings per share is as follows.
(Millions of yen)
FY2015(From April 1, 2015
to March 31, 2016)

Profit attributable to owners of parent

43,262

Amounts not attributable to common–shareholders
Profit attributable to owners of parent

43,262

related to common stock
Average number of common shares

736,985(Thousands of shares)

3. The basis of calculation for net assets per share is as follows.
(Millions of yen)
As of March 31, 2016
Total net assets

1,033,030

Amounts to be deducted from total net
256,704

assetsNon-controlling interests

256,704

Net assets at the end of the period
776,325

related to common stock
Number of common shares outstandingat the end of the period used to calculate

736,985

net assets per share (Thousands ofshares)11

<Reference>

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2016
1. Commission received(1) Breakdown by item
(Millions of yen)
FY2014(From April 1, 2014
to March 31, 2015)

Commission to consignees

FY2015(From April 1, 2015
to March 31, 2016)

Increase(Decrease)38,82846,662

7,833

Stocks

37,06043,931

6,871

Bonds

435

310

(124)

47,21754,157

6,940

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

Stocks12,461

17,407

4,946

Bonds

34,75636,7501,994

60,10649,702(10,404)

57,85247,506(10,346)

85,67275,582(10,089)

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

Beneficiary certificates
Other fees received
Beneficiary certificates
Total

53,65833,022(20,636)

231,825

226,105(5,720)FY2014(From April 1, 2014
to March 31, 2015)

FY2015(From April 1, 2015
to March 31, 2016)(2) Breakdown by product(Millions of yen)
Increase(Decrease)

Stocks51,383

66,47415,091

Bonds

39,01541,5402,525

Beneficiary certificates

112,784

82,530(30,253)

Other

28,64235,559

6,916

Total

231,825

226,105(5,720)2. Net trading income(Millions of yen)
FY2014(From April 1, 2014
to March 31, 2015)

FY2015(From April 1, 2015
to March 31, 2016)

Increase(Decrease)

Stocks

43,072

37,574(5,498)

Bonds

153,580

68,639(84,941)

Other(18,705)

72,556

91,261

Total

177,948

178,770821

12

<Reference>

Quarterly Trends in Consolidated Statements of Income(Millions of yen)
4Q of FY2014(January 1 toMarch 31, 2015)

Operating revenue

1Q of FY2015(April 1 toJune 30, 2015)

2Q of FY2015(July 1 to
September 30, 2015)

3Q of FY2015(October 1 to
December 31, 2015)

4Q of FY2015(January 1 toMarch 31, 2016)

127,021

146,899

118,416

99,914109,218

64,347

69,10857,82849,32349,844

Commission to consignees

10,896

13,53012,087

11,246

9,798

Stocks

10,38813,053

11,21010,525

9,142

Bonds

66

45

95

123

45

14,29915,447

15,93013,326

9,453

Commission received

Commission for underwriting
secondary distribution andsolicitation for selling and others for
professional investors

Stocks

3,228

5,420

3,755

6,542

1,688

Bonds

11,071

10,026

12,174

6,784

7,765

17,425

18,13814,132

10,147

7,283

Beneficiary certificates

16,682

17,675

13,892

9,253

6,684

Other fees received

21,72621,992

15,67814,602

23,309Beneficiary certificates

14,022

15,256

6,165

6,076

5,524

43,39259,45538,54338,27242,498Net trading income fromsecurities (stocks)

2,135

17,015

9,279(4,275)

15,555

Net trading income from bonds

40,05632,04339,63849,577(52,619)

Other net trading income

1,200

10,396(10,374)(7,028)79,562

19,285

18,33322,043

12,31916,876

(3)

1

0

(1)

－

Financial expenses

11,0909,066

10,872

7,879

8,888

Net operating revenue

115,930

137,833

107,544

92,035

100,329

Selling, general and administrative
expenses

96,576103,298

87,92080,32985,507

Fee for offering, secondary
distribution and solicitation for
selling and others for professional
investors

Net trading income

Financial revenue
Other operating revenue

Trading related expenses

31,15936,416

28,79527,65529,651

Personnel expenses

43,05038,16635,19829,41230,685

Real estate expenses

5,846

6,580

6,199

5,941

7,974

Office cost

8,551

9,206

8,760

7,929

7,947

Depreciation

4,224

4,382

5,493

5,354

5,846

Taxes and dues

1,397

6,094

344

2,614

1,036

Other

2,346

2,449

3,129

1,420

2,365

Operating income

19,35434,535

19,623

11,705

14,822Non-operating income

8,833

6,308

6,882

6,534

8,160

Non-operating expenses

377

548

(8)

72

102

27,81040,294

26,514

18,16822,880Extraordinary income

595

120

154

－

－

Extraordinary losses

1,982

638

2,195

134

545

Profit before income taxes

26,42339,77624,474

18,033

22,335

Income taxes-current

11,844

9,574

13,497

4,657

7,826

Income taxes-deferred(5,057)

4,556(5,591)

1,050(1,599)Total income taxes

6,787

14,130

7,905

5,707

6,226

ProfitProfit attributable to non-controllinginterests
Profit attributable to owners of parent

19,63525,645

16,56812,325

16,108

10,496

7,908

6,779

5,332

7,364

9,139

17,737

9,789

6,992

8,743

Ordinary income13<Reference>

Mitsubishi UFJ Morgan Stanley Securities, Co., Ltd.
for the Fiscal Year Ended March 31, 2016
(1) Consolidated operating results(Millions of yen)
FY2014(From April 1, 2014
to March 31, 2015)

Operating revenue
Commission received
Net trading income
Net operating revenue
Operating income
Ordinary income
Profit attributable to owners of parent

353,233
163,227
160,873342,214106,721
107,451
74,789FY2015(From April 1, 2015
to March 31, 2016)

341,375
167,551
152,745
331,470
79,05980,17551,813

Increase(Decrease)(11,857)
4,323(8,127)(10,743)(27,661)(27,276)(22,976)(Breakdown of operating revenue)<Breakdown by item of commission received>(Millions of yen)
FY2014(From April 1, 2014
to March 31, 2015)

Commission to consignees
Commission for underwriting, secondary distribution andsolicitation for selling and others for professional investors
Fee for offering, secondary distribution and solicitation for
selling and others for professional investors

Other fees received
Total

FY2015(From April 1, 2015
to March 31, 2016)

Increase(Decrease)

36,04235,060(982)

16,041

18,993

2,951

60,10649,417(10,688)

51,036
163,227

64,080167,551

13,043
4,323<Breakdown by product of commission received>(Millions of yen)
FY2014(From April 1, 2014
to March 31, 2015)

Stocks
Bonds
Beneficiary certificates
Other
Total

46,413
10,25780,53326,022
163,227

FY2015(From April 1, 2015
to March 31, 2016)

51,142
10,51872,45333,438167,551

Increase(Decrease)

4,728
260
(8,080)
7,415
4,323

<Net trading income>(Millions of yen)
FY2014(From April 1, 2014
to March 31, 2015)

Stocks
Bonds
Other
Total

36,452
156,486(32,065)
160,873

FY2015(From April 1, 2015
to March 31, 2016)

38,259102,910
11,575
152,745

Increase(Decrease)

1,806(53,575)
43,641(8,127)(2) Consolidated financial position(Millions of yen)
As of March 31, 2015

Total assets
Net assets

14,601,584
398,156

14

As of March 31, 2016

14,118,686
392,960

Increase(Decrease)(482,898)(5,196)

<Reference>(3) Non-consolidated operating results(Millions of yen)
FY2014(From April 1, 2014
to March 31, 2015)

Operating revenue
Commission received
Net trading income
Net operating revenue
Operating income
Ordinary income
Net income

309,252
142,156
138,038
298,455
91,22996,15372,036FY2015(From April 1, 2015
to March 31, 2016)

302,534
149,536
132,248
292,897
66,95877,84455,749

Increase(Decrease)(6,718)7,380(5,790)(5,557)(24,270)(18,308)(16,287)(Breakdown of operating revenue)<Breakdown by item of commission received>(Millions of yen)
FY2014(From April 1, 2014
to March 31, 2015)

Commission to consignees
Commission for underwriting, secondary
distribution and solicitation for selling andothers for professional investors
Fee for offering, secondary distribution andsolicitation for selling and others for
professional investors

Other fees received
Total

FY2015(From April 1, 2015
to March 31, 2016)

Increase(Decrease)35,55334,429(1,123)

16,041

18,993

2,951

44,591

38,216(6,374)45,969142,156

57,896
149,536

11,927
7,380<Breakdown by product of commission received>(Millions of yen)
FY2014(From April 1, 2014
to March 31, 2015)

Stocks
Bonds
Beneficiary certificates
Other
Total

46,0408,468
61,73825,908142,156

FY2015(From April 1, 2015
to March 31, 2016)

50,7198,908
56,702
33,205
149,536

Increase(Decrease)

4,678
439
(5,035)
7,297
7,380

<Net trading income>(Millions of yen)
FY2014(From April 1, 2014
to March 31, 2015)

Stocks
Bonds
Other
Total

31,551
139,248(32,761)
138,038

FY2015(From April 1, 2015
to March 31, 2016)33,132
88,043
11,072132,248

Increase(Decrease)

1,581(51,205)
43,833(5,790)(4) Non-consolidated financial position(Millions of yen)
As of March 31, 2015

Total assets
Net assets

14,542,001
385,748

15

As of March 31, 2016

14,064,602
388,391

Increase(Decrease)(477,399)
2,642