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, 2021

Consolidated Financial Results
for the First 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 first quarter of fiscal year 2021
(from April 1, 2021 to June 30, 2021)(1) Consolidated operating results (cumulative)
Operating revenue
Millions of yen
First three months of
FY2021First three months of
FY2020% Millions of yen(Note)

Operating profit

Ordinary profit% Millions of yen% Millions of yen%－

69,015(35.7)

49,175(23.9)(20,592)－

107,264

9.6

64,599

(3.3)

929

－

Profit attributable toowners of parent
Millions of yen%
First three months of
FY2021First three months of
FY2020(Percentages indicate year-on-year changes.)

Net operating revenue

Yen－(19.15)－

4,359 478.7

5.92

－

13,243 million yen(13,304) million yen－%－%

First three months of FY2021:
First three months of FY2020:

6,181 930.5

Diluted earnings
per share
Yen(14,114)Comprehensive income

Basic earnings
per share(13,229)(2) Consolidated financial position

As of June 30, 2021
As of March 31, 2021

Total assets

Net assets

Millions of yen
31,245,385

Millions of yen
975,270

Equity ratio%
2.2

33,502,327

977,310

2.1(Reference) Equity
As of June 30, 2021: 698,175 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 June 30, 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 June 30, 2021

– shares

As of March 31, 2021

– 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, 2022

736,985,496 sharesFirst three 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 First 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 First 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 June 30, 2021

ASSETS
Current assets
Cash and deposits
Cash segregated as deposits

1,840,436
1,093,651

2,035,916
1,069,203

Trading products
Trading securities and other
Derivatives

15,020,167
8,097,590
6,922,576

14,479,406
7,759,687
6,719,718

Margin transaction assets
Loans secured by securities
Short-term guarantee deposits

299,934
13,364,965
1,064,324

266,126
11,238,996
1,063,088

34,98048,200

Income taxes receivable
Other current assets
Total current assets

Short-term investment securities

1,338
191,456
32,911,256

10,506
470,751
30,682,194

Non-current assets
Property, plant and equipment
Intangible assets

29,030100,445

28,902
100,435

Investments and other assets
Total non-current assets
Total assets

461,595
591,071
33,502,327

433,852
563,191
31,245,385- 1 -(Millions of yen)
As of March 31, 2021

As of June 30, 2021

LIABILITIESCurrent liabilities
Trading products

11,953,041

11,075,756

5,365,969

4,766,740

Derivatives
Trade date accrual
Margin transaction liabilities

6,587,071
269,944
156,920

6,309,015
127,708
90,765

Trading securities and other

Borrowings secured by securities

11,533,643

10,673,761

Short-term borrowings

2,759,817

2,355,589

Current portion of bonds

191,313

152,867

Current portion of long-term borrowings

189,840

202,207

1,016,021

997,748

9,116

1,762

Commercial papers
Income taxes payable
Asset retirement obligations

389

304

Other current liabilities

2,873,057

2,879,753

Total current liabilities

30,953,106

28,558,226

Bonds payable

804,991

860,267

Long-term borrowings

743,456

827,742

2,618

2,603

Non-current liabilities

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

12

12

7,413

7,448

Other non-current liabilities

8,776

9,170

Total non-current liabilities

1,567,268

1,707,245

4,642

4,642

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

4,642

4,642

32,525,017

30,270,114

NET ASSETS
Shareholders’ equity
Share capital

75,51875,518

Capital surplus

434,441

434,441

Retained earnings

215,565

195,503

Total shareholders’ equity

725,525

705,463

1,085

985

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans

32

29(35,227)(11,218)

3,029

2,916

(31,079)(7,287)

Non-controlling interests

282,864

277,094

Total net assets

977,310975,270

33,502,327

31,245,385

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 FY2020(From April 1, 2020
to June 30, 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 (loss)
Non-operating income
Share of profit of entities accounted for using equity method
Gain on sales of investment securities
Other
Total non-operating income
Non-operating expenses
Loss on investments in money held in trust
Other
Total non-operating expenses
Ordinary profit (loss)
Extraordinary losses
Loss on valuation of investment securities
Impairment loss
Provision of reserve for financial instruments transaction liabilities
Other
Total extraordinary losses
Profit (loss) before income taxes
Income taxes-current
Income taxes-deferred
Total income taxes
Profit (loss)
Profit attributable to non-controlling interests
Profit (loss) attributable to owners of parent- 3 -(Millions of yen)First three months of FY2021(From April 1, 2021
to June 30, 2021)

29,014
31,676
46,5684
107,264
42,66564,59963,669929

38,337
12,944
17,7303
69,015
19,83949,17569,768(20,592)

1,758
918
3,163
5,839

3,063
2,510
2,191
7,765

492
95
587
6,181

309
92
402
(13,229)

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

3
0
－
34
38
(13,268)(3,744)923(2,821)(10,446)
3,667(14,114)

Consolidated statements of comprehensive income (cumulative)(Millions of yen)First three months of FY2020(From April 1, 2020
to June 30, 2020)

First three months of FY2021(From April 1, 2021
to June 30, 2021)

4,516(10,446)136
1(17,948)(10)(17,821)(13,304)(126)(3)
24,008(188)
23,69013,243(13,570)
265

9,677
3,566

Profit (loss)
Other 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)(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 three months of the fiscal year
ending March 31, 2022 decreased by 870 million yen each. In addition, there is no effect on the opening balance of retained
earnings of the fiscal year ending March 31, 2022.

- 4 -<Reference>

Consolidated Financial Results
for the First Quarter of the Fiscal Year Ending March 31, 2022
1. Commission received(1) Breakdown by item
(Millions of yen)First three months of FY2020(From April 1, 2020
to June 30, 2020)

Brokerage commission

First three months of FY2021(From April 1, 2021
to June 30, 2021)

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

Increase(Decrease)

6,995

6,175

(820)

29,200Stocks

6,572

5,973

(599)

28,019

Bonds

1

0

(1)

4

4,339

7,920

3,580

26,142

Stocks

70

1,267

1,196

5,504

Bonds

4,269

6,652

2,383

20,637

2,912

6,597

3,684

20,158Commission for underwriting,secondary distribution and solicitation
for selling and others for professional
investors

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

Beneficiary certificates
Other fees received
Beneficiary certificates
Total

2,885

6,446

3,561

19,347

14,766

17,644

2,877

67,035

4,615

5,328

713

20,12429,01438,337

9,322

142,538(2) Breakdown by product(Millions of yen)First three months of FY2020(From April 1, 2020
to June 30, 2020)

First three months of FY2021(From April 1, 2021
to June 30, 2021)

Increase(Decrease)

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

Stocks

6,911

9,578

2,666

38,139

Bonds

5,198

7,500

2,302

23,787

Beneficiary certificates

7,869

11,947

4,077

40,485

Other

9,034

9,310

276

40,124

Total

29,01438,337

9,322

142,538

２．Net trading income(Millions of yen)First three months of FY2020(From April 1, 2020
to June 30, 2020)

First three months of FY2021(From April 1, 2021
to June 30, 2021)

Increase(Decrease)

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

Stocks(13,158)(13,314)(156)

Bonds and other

44,83526,259(18,576)

53,462

Total

31,676

12,944(18,732)

136,957- 5 -83,495

<Reference>

Quarterly Trends in Consolidated Statements of Income(Millions of yen)
1Q of FY2020(April 1 toJune 30, 2020)

Operating revenue
Commission received

2Q of FY2020(July 1 to
September 30, 2020)

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

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

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

107,264

84,45588,795

107,542

69,01529,01433,82537,81041,88738,337

Brokerage commission

6,995

6,237

7,519

8,448

6,175

Stocks

6,572

5,992

7,267

8,186

5,973

Bonds

1

1

0

0

0

4,339

8,058

7,215

6,528

7,920

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

Stocks

70

1,512

1,875

2,046

1,267

Bonds

4,269

6,546

5,340

4,481

6,652

2,912

4,713

5,680

6,851

6,597

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

Beneficiary certificates

2,885

4,655

5,360

6,446

6,446

Other fees received

14,766

14,815

17,39420,05917,644

Beneficiary certificates

4,615

4,987

5,115

5,406

5,328

31,67637,27838,25629,745

12,944

Net trading income from securities (stocks)(13,158)

31,47824,60340,571(13,314)

Net trading income from bonds and other

44,8355,800

13,652(10,826)

26,25946,56813,351

12,72835,90917,730

Net trading income

Financial revenue
Other operating revenue
Financial expenses

4

－

－

－

3

42,665

527

557

6,703

19,839Net operating revenue

64,59983,927

88,238100,838

49,175

Selling, general and administrative expenses

63,66967,197

69,25774,857

69,768

Trading related expenses

12,82914,06814,391

17,552

13,609Personnel expenses

24,41528,58528,21531,23527,820Real estate expenses

5,776

5,855

5,891

5,896

6,105

Office cost

8,031

7,884

9,009

8,478

8,829

Depreciation

7,598

7,726

8,017

8,385

7,977

Taxes and dues

2,626

1,233

1,766

1,384

4,031

Other

2,391

1,844

1,963

1,924

1,394

Operating profit (loss)

929

16,72918,98025,981(20,592)

Non-operating income

5,839

2,863

4,446

5,499

7,765

Non-operating expenses

587

28

54

118

402

Ordinary profit (loss)

6,181

19,56423,37331,362(13,229)

Extraordinary income

－

6

－

－

－

Extraordinary losses

138

331

1,718

2,303

38

Profit (loss) before income taxes

6,043

19,23921,65429,058(13,268)

Income taxes-current

1,451

4,300

7,054

7,588

(3,744)

Income taxes-deferred

74

1,478

(996)

260

923

Total income taxes

1,526

5,778

6,058

7,848

(2,821)

Profit (loss)(10,446)

4,516

13,46015,596

21,210

Profit attributable to non-controlling interests

156

2,990

5,241

7,078

3,667

Profit (loss) attributable to owners of parent

4,359

10,46910,354

14,131(14,114)- 6 -<Reference>

Mitsubishi UFJ Morgan Stanley Securities, Co., Ltd.
for the First Quarter of the Fiscal Year Ending March 31, 2022
(1) Non-consolidated operating results(Millions of yen)First three months of FY2020 First three months of FY2021(From April 1, 2020
(From April 1, 2021
to June 30, 2020)
to June 30, 2021)

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

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

69,26632,67032,184
65,112
13,315
13,887
10,266FY2020(From April 1, 2020
to March 31, 2021)

Increase(Decrease)

25,791
11,721
14,331
24,19915,577
15,386
10,761

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 three months of FY2020 First three months of FY2021(From April 1, 2020
(From April 1, 2021
to June 30, 2020)
to June 30, 2021)

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)

5,259

4,975

(284)

23,379

1,354

4,499

3,145

12,740

1,990

6,597

4,607

18,735

12,34420,948

16,59732,6704,253
11,721

62,389117,244<Breakdown by product of commission received>(Millions of yen)First three months of FY2020 First three months of FY2021(From April 1, 2020
(From April 1, 2021
to June 30, 2020)
to June 30, 2021)

Stocks
Bonds
Beneficiary certificates
Other
Total

5,165
2,502
5,416
7,864
20,948

8,329
4,285
11,783
8,272
32,670

Increase(Decrease)

3,163
1,782
6,366
408
11,721

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

32,215
11,39036,65036,988117,244<Net trading income>(Millions of yen)First three months of FY2020 First three months of FY2021(From April 1, 2020
(From April 1, 2021
to June 30, 2020)
to June 30, 2021)

StocksBonds and other
Total

4,863
12,98917,852

7,342
24,84232,184

Increase(Decrease)

2,478
11,853
14,331

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

36,19577,336
113,532(2) Non-consolidated financial position(Millions of yen)
As of June 30, 2020

Total assets
Net assets

As of June 30, 2021

18,692,062
403,361

17,475,925
414,215- 7 -Increase(Decrease)(2,296,627)(12,051)

As of March 31, 2021

19,772,553
426,267