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 26, 2019

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2019
[under Japanese GAAP]
Company name: Mitsubishi UFJ Securities Holdings Co., Ltd.
https://www.hd.sc.mufg.jp/
URL:
Representative: Saburo Araki, President & CEO
Contact:
Hiroyuki Ogata, General Manager, Financial Planning Division
TEL: (03) 6213-2550
Scheduled date of General Shareholders’ Meeting:June 26, 2019
Scheduled date to file Securities Report:
June 26, 2019
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 2018(from April 1, 2018 to March 31, 2019)(1) Consolidated operating results(Percentages indicate year-on-year changes.)

Operating revenue
Millions of yen

Net operating revenue% Millions of yen

Operating profit

Ordinary profit% Millions of yen%

FY2018371,484(1.4)

313,399(14.3)% Millions of yen
25,586(59.5)

42,363(49.7)FY2017

376,901(6.8)

365,825(3.5)

63,222(1.4)

84,206(15.5)FY2018Millions of yen
25,141%(41.8)

34.11

Yen
34.11

Profit attributable toowners of parent/equity%
3.6

FY201743,192

－

58.61

58.61

6.2

Profit attributable toowners of parent

Basic earnings
per share

Diluted earnings
per share

Yen(Note)
Comprehensive income
FY2018: 18,320 million yen (75.5%)
FY2017: 74,902 million yen －%(Reference) Equity in earnings (losses) of affiliates
FY2018: 14,586 million yen
FY2017: 17,302 million yen(Note)The year-on-year change of FY2017 is not presented because results have been retrospectively adjusted inaccordance with changes in accounting policies.

(2) Consolidated financial position
Total assets

Net assets

Equity ratio

Net assets per share

As of March 31, 2019

Millions of yen
24,508,629

Millions of yen
948,743%
2.7

Yen
911.63As of March 31, 2018

22,344,541

996,6883.2

966.07(Reference) Equity
As of March 31, 2019: 671,855 million yen
As of March 31, 2018: 711,978 million yen(Note)“Equity ratio” is computed under the formula shown below:(Total net assets – Share acquisition rights – Non-controlling interests) / Total assets(Note)
Figures as of March 31, 2018 have been retrospectively adjusted in accordance with changes in accounting policies.

<* 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: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 (4) Notes
to consolidated financial statements (Changes in accounting policies)" on page 7 of the"Attached Material".
(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, 2019

736,985,496 shares

As of March 31, 2018

736,985,496 shares

Number of shares of treasury stock at the end of the period
As of March 31, 2019– shares

As of March 31, 2018

– sharesAverage number of shares during the period
Fiscal year ended March 31, 2019

736,985,496 sharesFiscal year ended March 31, 2018

736,985,496 shares<*>This financial results report is not subject to audit.
<* 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--------------------

3

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

3(3) Consolidated statements of changes in equity--------------------

5(4) Notes to consolidated financial statements--------------------

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

6(Changes in accounting policies)--------------------

7(Segment information)--------------------

8(Per share information)--------------------

10(1) Breakdown by item--------------------

11(2) Breakdown by product--------------------

11

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

11

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

12<Reference>
Consolidated Financial Results for the Fiscal Year Ended March 31, 2019
1. Commission received<Reference>
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. for the Fiscal Year Ended March 31, 2019(1) Consolidated operating results--------------------

13(2) Consolidated financial position--------------------

13(3) Non-consolidated operating results--------------------

14(4) Non-consolidated financial position--------------------

14

Consolidated financial statements and primary notes(1) Consolidated balance sheets(Millions of yen)
As of March 31, 2018

As of March 31, 2019ASSETS
Current assets
Cash and deposits

2,148,003

Cash segregated as deposits
Trading products

1,977,895

795,610

767,298

9,665,903

10,607,932

Trading securities and other

2,812,701

3,107,927

Derivatives

6,853,202

7,500,004

Trade date accrual

230,932

163,530

Margin transaction assets

364,858

285,914Loans 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

279,722

187,982

85,13597,931

7,266,553

8,981,121

4,122,970

2,041,274

3,143,582

6,939,847

Short-term guarantee deposits

1,013,202

959,409

Short-term loans receivable

117,231

85,415

Short-term investment securities

35,250

2,053

－

6,780

Income taxes receivable
Other current assets

124,022

119,656

Total current assets

21,761,569

23,957,007

37,75628,038

Buildings

21,34817,966Equipment

11,1409,867

Non-current assets
Property, plant and equipment

Construction in progress

195

1

5,072

202

Intangible assets

109,172

108,602

Software75,553

77,100Other

33,61931,502

Investments and other assets

436,042

414,980

Investment securities

380,845

355,013

Other

Long-term loans receivable

2,948

9,996

Net defined benefit asset

9,396

9,755

Deferred tax assets

21,456

17,086

Other

22,31924,350(924)(1,223)

Allowance for doubtful accounts
Total non-current assets
Total assets- 1 -582,971551,621

22,344,541

24,508,629

(Millions of yen)
As of March 31, 2018

As of March 31, 2019

LIABILITIESCurrent liabilities
Trading products

8,608,126

Trading securities and other
Derivatives
Margin transaction liabilities
Borrowings on margin transactions
Cash received for securities lending on margintransactions
Loans payable secured by securities

9,321,472

2,078,853

2,098,132

6,529,273
244,266
48,675

7,223,339
243,758
29,071

195,590214,687

5,040,012

6,173,612

Cash received on debt credit transaction of securities

1,699,216

916,667

Borrowings on Gensaki transactions

3,340,796

5,256,944

Deposits received

597,218

586,987

Guarantee deposits received

1,820,188

1,753,143

Short-term loans payable

2,155,366

2,517,557

Current portion of bonds

241,499

202,775

Current portion of long-term loans payable

69,238

171,814

Commercial papers

811,926

598,625

Income taxes payable

11,058

4,508

Provision for bonuses

26,82817,618Provision for contingent loss

27

716

Asset retirement obligations

177

67

Other current liabilities

86,75977,567

Total current liabilities

19,712,696

21,670,225

Non-current liabilities
Bonds payable

1,013,449

1,244,543

Long-term loans payable

604,849

628,792

Net defined benefit liability

2,301

2,390

Provision for directors’ retirement benefits
Asset retirement obligations

33

35

7,704

7,875

Other non-current liabilities

2,497

1,759

Total non-current liabilities

1,630,836

1,885,396

4,319

4,263

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

4,319

4,263

21,347,852

23,559,885

NET ASSETS
Shareholders’ equity
Share capital

75,51875,518

Capital surplus

438,808

438,808

Retained earnings

211,478

188,309

Total shareholders’ equity

725,806

702,636

1,703

1,484

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
Total accumulated other comprehensive income

85

7(17,179)(33,532)

1,562

1,258

(13,827)(30,781)

Share acquisition rights

19

27

Non-controlling interests

284,690

276,860

Total net assets
Total liabilities and net assets- 2 -996,688948,743

22,344,541

24,508,629

(2) Consolidated statements of income and Consolidated statements of comprehensive income
Consolidated statements of income(Millions of yen)
FY2018(From April 1, 2018
to March 31, 2019)

FY2017(From April 1, 2017
to March 31, 2018)
Operating revenue
Commission received
Commission to consignees

158,576
42,501

148,788
31,744

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

24,61932,568

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

34,713

18,81956,741
171,147
47,176
0376,901
11,075
365,825

65,655
119,559
103,1333
371,484
58,085313,399

93,449109,170
23,695
32,11225,901
10,5607,714
302,603
63,222

81,613
104,692
24,177
31,95828,1348,402
8,835
287,81225,586

2,662
17,302
2,517
22,482

1,906
14,5862,371
18,863

671
111
428
75
212
1,498
84,206

874
452
－
611
148
2,086
42,363

179
－
－
－
179

32
4,177
56
1,611
5,877

459
0
123
244
－
－
827
83,55819,924
1,022
20,946
62,611
19,41943,192

－
－
268
－
808
302
1,379
46,861
5,415
5,158
10,57436,287
11,14525,141Other fees 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 profit
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 sales of investment securities
Loss on retirement of non-current assets
Foreign exchange losses
Loss on investments in money held in trust
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sales of investment securities
Gain on sales of non-current assets
Reversal of reserve for financial instruments transaction liabilities
Gain on liquidation of subsidiaries and associates
Total extraordinary income
Extraordinary losses
Loss on sales of investment securities
Loss on valuation of investment securities
Impairment loss
Provision of reserve for financial instruments transaction liabilities
Provision for contingent loss
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 -Consolidated statements of comprehensive income(Millions of yen)
FY2017(From April 1, 2017
to March 31, 2018)
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- 4 -FY2018(From April 1, 2018
to March 31, 2019)

62,61136,287

1,174
42
9,852
1,147

(614)
(77)
(16,481)
(792)

74

－

12,29074,902(17,966)
18,32054,627
20,2747,850
10,470(3) Consolidated statements of changes in equity
FY2017 (From April 1, 2017 to March 31, 2018)(Millions of yen)
Shareholders’ equity

Share
capitalAccumulated other comprehensive income
Valuationdifference
Totalonshareholders’availableequity
for-salesecurities

Deferred
gains orlosses onhedgesShare
NonTotal
Foreign
Remeasurements accumulated acquisition controllingcurrency
rightsinterests
otherof defined benefit
translation
comprehensiveplans
adjustment
incomeTotal net
assetsCapitalsurplusRetainedearnings

438,916

185,688

700,123

2,916

2,916

188,604

703,039

Dividends from surplus(20,318)(20,318)(20,318)

Profit attributable to owners of parent

43,192

43,192

43,192

－

－

－

(111)

(111)

(111)

Partial sale of shares of subsidiaries

1

1

1

Change in ownership interest of parent due totransactions with non-controlling interests

2

2

2

Balance at the beginning of current period

75,518Cumulative effects ofchanges in accounting policies
Restated balance

75,518438,916840

43(26,992)846(25,262)16

284,574

959,450
2,916

840

43

(26,992)846(25,262)16

284,574

962,367

Changes of items during the period

Change of scope consolidation
Additional purchase of shares of subsidiaries

Net changes of items other than shareholders'equity

42

9,813

715

11,435

3

116

11,554－(107)

22,874

22,766

863

42

9,813

715

11,435

3

116

34,32175,518438,808

211,478

725,806

1,703

85(17,179)

1,562(13,827)19

284,690996,688

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

863

FY2018 (From April 1, 2018 to March 31, 2019)(Millions of yen)
Shareholders’ equity

Share
capitalAccumulated other comprehensive income
Valuationdifference
Totalonshareholders’availableequity
for-salesecurities

Deferred
gains orlosses onhedgesShare
NonTotal
Foreign
Remeasurements accumulated acquisition controllingcurrency
rightsinterests
otherof defined benefit
translation
comprehensiveplans
adjustment
incomeTotal net
assetsCapitalsurplusRetainedearnings

438,808

211,478

725,806－－

211,478

725,806

Dividends from surplus(52,472)(52,472)(52,472)

Profit attributable to owners of parent

25,141

25,141

25,141

Change of scope consolidation

4,161

4,161

4,161

Balance at the beginning of current period

75,518Cumulative effects ofchanges in accounting policies
Restated balance

75,518438,808

1,703

85(17,179)

1,562(13,827)19

284,690996,688
－

1,703

85

(17,179)

1,562(13,827)19

284,690996,688

Changes of items during the period

Additional purchase of shares of subsidiaries

(0)

(0)

(0)

Partial sale of shares of subsidiaries

－

－

－

Change in ownership interest of parent due totransactions with non-controlling interests

－

－

－

Net changes of items other than shareholders'equityTotal changes of items during the period
Balance at the end of current period

(219)

(77)

(16,352)(303)(16,953)8(7,830)(24,775)－(0)(23,169)(23,169)

(219)

(77)

(16,352)(303)(16,953)8(7,830)(47,945)

75,518438,808

188,309702,6361,484

7(33,532)

1,258(30,781)27

276,860

948,743- 5 -(4) Notes to consolidated financial statements(Notes on premise of going concern)
None

- 6 -

(Changes in accounting policies)
The Group has applied the “Guidance on Accounting Standard for Tax Effect Accounting” (The
Accounting Standards Board of Japan (ASBJ) Guidance No. 28, revised on February 16, 2018)
effective from the beginning of the fiscal year ended March 31, 2019. Accordingly, the treatmentof taxable temporary differences related to shares and investments in subsidiaries in the nonconsolidated financial statements were reviewed. The changes in accounting policies in line withthis revision of the Guidance were retrospectively applied, and the consolidated financial
statements as of and for the fiscal year ended March 31, 2018, reflect the effects of theretrospective application.
As a result of the reflection of the cumulative effects on the net assets balance at the beginning of
the previous fiscal year, the retained earnings balance at the beginning of the previous fiscal year
increased by 2,916 million yen.

- 7 -(Segment information)
FY2018 (From April 1, 2018 to March 31, 2019)
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(Europe)” and “Securities Brokerage (Americas).”“Securities Brokerage” provides customers with broader investment and financing services from both
funding and investment aspects.
Although MUFG Securities Americas Inc. (“MUSA”) was excluded from the Company’s scope of
consolidation on July 1, 2016, the Company continues to identify “Securities Brokerage (Americas)” asreportable segment because it will continue to include MUSA in its internal revenue management. The
Company reconciles the difference between the total amounts in reportable segments and the amount on
the consolidated financial statements by using the “Adjustment.”
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 the accounting policies adopted forthe preparation 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.

- 8 -3. Information about net operating revenue, profit or loss, assets and other items by reportable segment(Millions of yen)
Adjustment(Note 2)

Amounts on
consolidated
financialstatements(Note 3)

Reportable segment
Securities
Brokerage(Japan)Securities
Brokerage(Europe)Securities
Brokerage(Americas)

Other(Note 1)

Total

Total

Net operating revenue
Net operating revenue from externalcustomers
Inter-segment net operating revenue ortransfers
Total

265,184

40,69852,924

358,806

1,605

360,412(47,013)313,399

1,933

4,647

4,068

10,64932,16942,818(42,818)－

267,11745,34556,992369,456

33,774403,230(89,831)313,399

Segment profit

18,868

5,202

4,776

28,84840,38869,236(44,094)

25,141

Segment assets

14,485,599

8,528,765

5,774,655

28,789,020

2,892,221

31,681,242(7,172,612)

24,508,629

Other items:
Depreciation

24,346

3,054

1,442

28,844

1,100

29,944(1,810)28,134

Amortization of goodwill

－

－

－

－

－

－

2,077

2,077

Interest income

0

1,906

－

1,906

0

1,906

－

1,906

Interest expenses

－

－

－

－

33

33

(33)

－

Share of profit (loss) of entities
accounted for using equity method

－

－

－

－

－

－

14,586

14,586

338

－

－

338

5,820

6,158

(281)

5,877

Gain on sales of non-current assets

－

－

－

－

3,364

3,364

812

4,177

Gain on liquidation of subsidiaries
and associates

－

－

－

－

2,331

2,331

(720)

1,611

Extraordinary income

Extraordinary losses

619

－

－

619

17,352

17,971(16,592)

1,379

Impairment loss

53

－

－

53

279

332

(63)

268

Provision for contingent loss

211

－

－

211

105

317

490

808

10,952

1,938

1,942

14,832(1,457)

13,374(2,800)

10,574－－－－

412,554412,554(158,751)

253,803

22,010

4,137

2,409

28,557

1,169

29,727(1,658)28,068

Taxes
Investment to entities accounted
for using the equity method
Increase in property, plant andequipment and intangible assets(Notes) 1. “Other” includes the holding company of securities companies and others.
2. Adjustment includes the following:（1）Adjustment to net operating revenue from external customers, amounting to (47,013) million yen, is mainly the adjustmentsof net operating revenue from external customers in relation to MUSA, which was excluded from the scope of consolidationof the Company.
（2）Adjustment to segment profit, amounting to (44,094) million yen, is mainly eliminations of inter-segment transactions.
（3）Adjustment to segment assets, amounting to (7,172,612) million yen, includes (3,756,631) million yen of assets in relation
to MUSA., which was excluded from the scope of consolidation of the Company, and (3,382,386) million yen of
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, 2019.

- 9 -(Per share information)
FY2018(From April 1, 2018
to March 31, 2019)

Net assets per share (Yen)

911.63

Basic earnings per share (Yen)

34.11

34.11
Diluted earnings per share (Yen)(Notes)1. The basis of calculation for basic earnings per share and diluted earnings per share is as follows.
(Millions of yen)
FY2018(From April 1, 2018
to March 31, 2019)(1) Basic earnings per share (Yen)

34.11

Profit attributable to owners of parent
Amounts not attributable to commonshareholders
Profit attributable to owners of parent
related to common stock
Average number of common shares(Thousands of shares)

25,141–
25,141
736,985(2)Diluted earnings per share (Yen)
Adjustments of profit attributable to ownersof parent
Adjustments due to potential sharesissued by consolidated subsidiaries
Increase in common share(Thousands of shares)
Summary of potential shares that are notincluded in calculation of diluted earnings
per share due to a lack of dilution effect
2. The basis of calculation for net assets per share is as follows.

34.11
(0)
(0)
–

–

(Millions of yen)
As of March 31, 2019
Total net assets
Amounts to be deducted from total net assets
Non-controlling interests
Net assets at the end of the period related tocommon stock
Number of common shares outstanding at theend of the period used to calculate net assets
per share (Thousands of shares)- 10 -

948,743
276,888276,860
671,855

736,985

<Reference>

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2019
1. Commission received(1) Breakdown by item
(Millions of yen)
FY2017(From April 1, 2017
to March 31, 2018)

Commission to consignees

FY2018(From April 1, 2018
to March 31, 2019)

Increase(Decrease)42,501

31,744(10,756)

Stocks41,15030,665(10,484)

Bonds

20

8

(11)

24,61932,568

7,949

Stocks

9,912

14,697

4,785

Bonds

14,707

17,871

3,163

34,713

18,819(15,894)

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

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

Beneficiary certificates

31,35915,233(16,126)

56,74165,655

8,913

23,37922,563(816)

158,576

148,788(9,787)FY2017(From April 1, 2017
to March 31, 2018)

FY2018(From April 1, 2018
to March 31, 2019)

Stocks52,97449,326

Bonds

20,54824,032

3,484

Beneficiary certificates

55,92138,803(17,118)

Other fees received
Beneficiary certificates
Total(2) Breakdown by product(Millions of yen)
Increase(Decrease)(3,647)

Other

29,132

36,626

7,493

Total

158,576

148,788(9,787)FY2017(From April 1, 2017
to March 31, 2018)

FY2018(From April 1, 2018
to March 31, 2019)

２．Net trading income(Millions of yen)
Increase(Decrease)

Stocks39,297

3,592

Bonds and other131,849

115,967(15,882)

Total

171,147

119,559(51,587)- 11 -(35,705)

<Reference>

Quarterly Trends in Consolidated Statements of Income(Millions of yen)
4Q of FY2017(January 1 toMarch 31, 2018)

Operating revenue

1Q of FY2018(April 1 toJune 30, 2018)

2Q of FY2018(July 1 to
September 30, 2018)

3Q of FY2018(October 1 to
December 31, 2018)

4Q of FY2018(January 1 toMarch 31, 2019)94,82092,611

92,925

91,152

94,79439,82840,97432,37938,21837,216

Commission to consignees

10,573

8,926

8,261

8,008

6,548

Stocks

10,154

8,702

8,001

7,584

6,377

Bonds

1

2

4

1

0

5,435

7,013

5,531

12,1107,913

Commission received

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

Stocks

2,191

2,742

1,351

7,183

3,420

Bonds

3,244

4,271

4,179

4,927

4,492

8,740

5,929

5,404

3,850

3,635

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

Beneficiary certificates

7,832

5,124

4,562

2,885

2,661

Other fees received

15,07919,105

13,182

14,24919,119Beneficiary certificates
Net trading income

5,772

5,964

5,842

5,502

5,253

46,26237,354

31,57524,60626,022

Net trading income from securities (stocks)

3,612(5,878)

4,444

(235)

5,262

Net trading income from bonds and other

42,65043,23327,13024,842

20,7608,728

14,27928,97028,32731,555

0

3

－

－

－

2,616

6,608

13,414

16,815

21,248Financial revenue
Other operating revenue
Financial expenses
Net operating revenue

92,20386,00379,511

74,33773,546

Selling, general and administrative expenses

76,10975,042

69,47373,53569,760

Trading related expenses

24,835

20,591

20,06820,742

20,210

Personnel expenses

26,282

28,06325,261

26,42424,942

Real estate expenses

5,322

6,078

6,082

6,128

5,887

Office cost

7,778

8,259

8,046

8,324

7,327

Depreciation

6,528

6,768

6,759

7,377

7,228

Taxes and dues

3,755

3,466

1,255

2,555

1,124

Other

1,606

1,815

2,000

1,980

3,039

Operating profit

16,094

10,96010,037801

3,785

Non-operating income

7,810

5,616

3,892

4,997

4,357

Non-operating expenses

216

1,380

262

(103)

547

23,68815,196

13,668

5,903

7,595

Ordinary profit
Extraordinary income

84

53

1,611

(1)

4,213

Extraordinary losses

505

218

68

46

1,046

Profit before income taxes

23,26615,031

15,211

5,855

10,763

Income taxes-current

5,552

1,220

1,684

1,562

947

Income taxes-deferred

574

2,247

2,577

(2,137)

2,470
3,418

Total income taxes

6,127

3,468

4,262

(575)

Profit17,138

11,563

10,948

6,430

7,345

Profit attributable to non-controlling interests

5,129

3,091

4,055

1,293

2,704

Profit attributable to owners of parent

12,009

8,471

6,892

5,137

4,640

- 12 -

<Reference>

Mitsubishi UFJ Morgan Stanley Securities, Co., Ltd.
for the Fiscal Year Ended March 31, 2019(1) Consolidated operating results(Millions of yen)
FY2017(From April 1, 2017
to March 31, 2018)

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

300,043
136,559
136,620
293,290
47,89449,352
32,470FY2018(From April 1, 2018
to March 31, 2019)

254,350
126,969
99,550249,150
20,491
22,432
11,546

Increase(Decrease)(45,692)(9,589)(37,070)(44,140)(27,402)(26,919)(20,924)(Breakdown of operating revenue)<Breakdown by item of commission received>(Millions of yen)
FY2017(From April 1, 2017
to March 31, 2018)

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

FY2018(From April 1, 2018
to March 31, 2019)

Increase(Decrease)

33,322

24,443(8,879)14,934

20,4995,565

34,513

18,673(15,840)

53,788
136,559

63,353
126,969

9,564(9,589)<Breakdown by product of commission received>(Millions of yen)
FY2017(From April 1, 2017
to March 31, 2018)

Stocks
Bonds
Beneficiary certificates
Other
Total

43,588
11,32855,06826,572
136,559

FY2018(From April 1, 2018
to March 31, 2019)41,752
12,48037,99434,742
126,969

Increase(Decrease)(1,836)
1,151(17,074)
8,170(9,589)<Net trading income>(Millions of yen)
FY2017(From April 1, 2017
to March 31, 2018)

StocksBonds and otherTotal

38,084
98,536
136,620

FY2018(From April 1, 2018
to March 31, 2019)

21,88577,66499,550

Increase(Decrease)(16,198)(20,871)(37,070)(2) Consolidated financial position(Millions of yen)
As of March 31, 2018

Total assets
Net assets

12,977,558
406,608- 13 -

As of March 31, 201913,515,842
398,497

Increase(Decrease)538,283(8,111)

<Reference>(3) Non-consolidated operating results(Millions of yen)
FY2017(From April 1, 2017
to March 31, 2018)

Operating revenue
Commission received
Net trading income
Net operating revenue
Operating profit
Ordinary profit
Profit261,997
117,905
116,744
254,866
36,13443,96433,060FY2018(From April 1, 2018
to March 31, 2019)

227,925
113,273
83,066
218,923
13,58422,806
15,564

Increase(Decrease)(34,071)(4,632)(33,678)(35,943)(22,550)(21,158)(17,495)(Breakdown of operating revenue)<Breakdown by item of commission received>(Millions of yen)
FY2017(From April 1, 2017
to March 31, 2018)

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

FY2018(From April 1, 2018
to March 31, 2019)

Increase(Decrease)

32,58323,756(8,826)

14,934

20,4995,565

23,354

12,721(10,633)

47,033
117,905

56,295113,273

9,261(4,632)<Breakdown by product of commission received>(Millions of yen)
FY2017(From April 1, 2017
to March 31, 2018)

Stocks
Bonds
Beneficiary certificates
Other
Total

43,002
9,657
39,092
26,153
117,905

FY2018(From April 1, 2018
to March 31, 2019)

41,162
10,85527,411
33,843
113,273

Increase(Decrease)(1,839)
1,198(11,680)
7,689(4,632)<Net trading income>(Millions of yen)
FY2017(From April 1, 2017
to March 31, 2018)

StocksBonds and otherTotal

36,43180,313
116,744

FY2018(From April 1, 2018
to March 31, 2019)

20,97262,09383,066

Increase(Decrease)(15,458)(18,219)(33,678)(4) Non-consolidated financial position(Millions of yen)
As of March 31, 2018

Total assets
Net assets

12,868,908
402,418- 14 -

As of March 31, 201913,421,179
399,878

Increase(Decrease)552,271(2,539)