Mitsubishi UFJ Financial Group, Inc. (MUFG) Q4 2020 Results - Earnings Call Transcript

Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG) Q4 2020 Results Conference Call May 20, 2020 9:30 PM ET

Company Participants

Tetsuya Yonehana - CFO

Conference Call Participants

Operator

Thank you very much for waiting. We would now like to start MUFJ Fiscal 2019 Results Briefing this next conference. I will serve as the emcee today. My name is Tanya from the IR office financial planning division. As for the proceedings our Senior Managing Corporate Executive, Group CFO Tetsuya Yonehana, will give a briefing on the results for about 15 minutes. And then we will take questions.

The total time for this conference is 50 minutes at most. Before we start to briefing, let me give you some reminders. In the briefing, we may make future forecasts based on current outlook. But they're all accompanied by risk and uncertainty. Please be aware that the actual results may differ from the forecasts.

Now, we will start the results briefing. Turning it over to you Ms. Yonehana.

Tetsuya Yonehana

Thanks from the Office of Group CFO. This past April, my name is Yonehana. I guided constructive dialogue with our shareholders and investors. And I thank you for the relationship. Thank you very much for joining us for this MUFJ Net conference. Please look at the material entitled financial highlights under Japanese GAAP for fiscal year ended March 31, 2020.

Please turn to Page 1. Let me give you an overview of our 2019 financial results and shareholder return policies. The first bullet point at the top net operating profits, which is profits from our main business, it was up 105.8 billion year-on-year making a first turnaround of net operating profit in five years. Next profit attributable to owners of parent there was an increase in credit costs arising from the absence of write backs of loan loss reserves booked