MUFG · Mitsubishi UFJ Financial Group, Inc.

MUFG has upwardly revised its key financial target under the Medium-term Business Plan (MTBP) covering FY2024 to FY2026, raising the ROE goal from approximately 9% to 12%. This adjustment follows exceptional FY2024 results where the company achieved exactly 9% ROE, hitting the original endpoint target in the plan's first year. The revision accounts for recent business performance trends exceeding initial projections, despite ongoing external uncertainties. Notably, the prior target employed MUFG's internal ROE definition—profits attributable to owners of parent divided by the average of beginning and ending total shareholders' equity plus foreign currency translation adjustments—while the new 12% target aligns with the Tokyo Stock Exchange's standard. Management began reviewing the target in early FY2025 but delayed disclosure to carefully assess the environment. This move underscores MUFG's confidence in its growth strategies, including expansion, social and environmental initiatives, and accelerated transformation. Investors should view this as a positive signal of enhanced profitability potential and commitment to sustainable growth, though forward-looking statements carry risks as highlighted in the filing.