UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------
Form 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of July, 2003
----------
MITSUBISHI TOKYO FINANCIAL GROUP, INC.
(Translation of registrant's name into English)
4-1, Marunouchi 2-chome, Chiyoda-ku
Tokyo 100-6326, Japan
(Address of principal executive offices)
----------
[Indicate by check mark whether the registrant files or
will file annual reports under cover Form 20-F or Form 40-F.]
Form 20-F __X__ Form 40-F _____
[Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities
Exchange Act of 1934.]
Yes ____ No __X__
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date: July 31, 2003
MITSUBISHI TOKYO FINANCIAL GROUP, INC.
By: /s/ Atsushi Inamura
-------------------------------------
Name: Atsushi Inamura
Title: Chief Manager, General Affairs
Corporate Administration Division
Mitsubishi Tokyo Financial Group, Inc.
TSE Code; 8306
Mitsubishi Tokyo Financial Group, Inc.
Financial Information for the First Quarter of Fiscal Year 2003
Tokyo, July 31, 2003--- Mitsubishi Tokyo Financial Group, Inc. (MTFG; President:
Shigemitsu Miki) today announced certain financial information for MTFG and its
100% owned subsidiaries, The Bank of Tokyo-Mitsubishi, Ltd. (BTM) and The
Mitsubishi Trust and Banking Corporation (MTBC) for the first quarter of the
fiscal year ending March 31, 2004.
Unless otherwise noted, all of the disclosed figures are on a non-consolidated
basis, and the figures for MTFG are the sum of those of BTM and MTBC.
All of the disclosed figures are unaudited, and the scope of the disclosed
figures is different from that of the end of the first half and full year of
fiscal 2003 as noted in each section.
Inquiries: Mr. Katsuhiko Ishizuka
Chief Manager, Financial Policy Division
Mitsubishi Tokyo Financial Group, Inc.
Tel. +81-3-3240-8211
--------------------------------------------------------------------------------
This financial information contains forward looking statements and other
information relating to the Company (such statements and information are
hereinafter referred as the "Forward-Looking Statements"). The Forward-Looking
Statements are not historical facts and include, reflect or are otherwise based
upon, among other things, the Company's current projections, views, policies,
business strategies, targets, expectations, assumptions and evaluations with
respect to general economic conditions, the result of operations, its financial
condition, its management in general and other future events.
Some Forward-Looking Statements represent targets that the Company's management
will strive to achieve through the successful implementation of the Company's
business strategies. Accordingly, they are inherently susceptible to
uncertainties, risks and changes in circumstances and are not guarantees of
future performance. The Company may not be successful in implementing its
business strategies, and actual results may differ materially, for a wide range
of possible reasons. Please see Company's latest financial summary report and
annual report.
In light of many risks, uncertainties and possible changes, you
are advised not to put undue reliance on the Forward-Looking Statements. The
Company is under no obligation - and expressly disclaim any obligation - to
update or alter the Forward-Looking Statements, except as may be required by any
applicable laws and regulations or stock exchange rules.
--------------------------------------------------------------------------------
1. Bankrupt Credits and credits sold in the first quarter of fiscal year 2003
(unit: billions of Japanese yen)
---------------------------------------------------------------------------------------------------
Inc/dec of classified
assets based on the
Book balance before Financial Reconstruction
Number of borrowers Charge-offs /*2/ Law (FRL) /*3/
---------------------------------------------------------------------------------------------------
Bankrupt Credits /*1/ 112 11.0 0.0
---------------------------------------------------------------------------------------------------
Credits sold to RCC 102 - (13.3)
---------------------------------------------------------------------------------------------------
Other credits sold 13 - (40.4)
---------------------------------------------------------------------------------------------------
Notes:
*1: Represents domestic borrowers who became legally bankrupt (i.e., who have
no prospects for continued business operations because of non-payment,
suspension of business, voluntary liquidation, filing for legal
liquidation, etc.) during the period from April 1, 2003 to June 30, 2003,
credits disclosed in accordance with the timely disclosure requirements of
the Tokyo Stock Exchange are included regardless of the location of the
borrowers.
*2: Book balance of Bankrupt Credits before deduction of amounts that should be
charged-off as of June 30, 2003.
*3: The numbers do not reflect the results of the self-assessment of assets as
of June 30, 2003, and represent the decrease in classified assets in
accordance with the FRL of Bankrupt Credits and credits sold for the
following factors only. For Bankrupt Credits, the balance represents the
difference of the amount of credits classified in accordance with the FRL
as of June 30, 2003 after deduction of amounts that should be charged-off
compared to the amount of the credits classified in accordance with FRL as
of March 31, 2003. For credits sold, the balance represents the amount of
the credits sold by June 30, 2003 that were classified in accordance with
FRL as of March 31, 2003.
*4: Number of borrowers, book balance before charge-offs, and increase in
classified assets in accordance with the FRL of domestic borrowers who
became high risk or substantially bankrupt debtors during the period from
April 1, 2003 to June 30, 2003 are 506 borrowers, (Yens)51.7 billion,
(Yens)26.0 billion, respectively. These numbers include material credits
under high risk or material substantially bankrupt debtors that do not meet
the criteria described hereinabove.
*5: For MTBC, numbers are on banking account and trust account combined basis.
For trust account, numbers include only the trusts with contracts that MTBC
guarantees for repayment of trust principal amount.
2. Consolidated risk adjusted capital ratio
--------------------------------------------------------------------------------
At September 30, 2003 At March 31, 2003
(Target) (Actual)
--------------------------------------------------------------------------------
Total capital Approx. 11.0%-11.5% 10.84%
--------------------------------------------------------------------------------
Tier1 capital Approx. 6% 5.68%
--------------------------------------------------------------------------------
3. Fair value information
(1) Marketable securities available-for-sale
(unit: billions of Japanese yen)
-----------------------------------------------------------------------------------------------------------------------------
(Figures for reference)
At June 30, 2003 At December 31, 2002 At March 31, 2003
------------------------------------------------------------------------------------------------
Amortized Fair Unrealized Amortized Fair Unrealized Amortized Fair Unrealized
Cost value gain(loss) cost value gain(loss) cost value gain(loss)
-----------------------------------------------------------------------------------------------------------------------------
Domestic equity securities 3,284.9 3,262.4 (22.5) 4,364.5 3,640.9 (723.6) 3,526.6 3,091.5 (435.1)
-----------------------------------------------------------------------------------------------------------------------------
Japanese government bonds 12,804.6 12,847.8 43.2 10,755.4 10,826.0 70.5 10,489.7 10,591.7 101.9
-----------------------------------------------------------------------------------------------------------------------------
Foreign bonds 7,280.6 7,449.0 168.3 5,902.0 6,032.4 130.3 6,445.2 6,577.0 131.7
-----------------------------------------------------------------------------------------------------------------------------
Notes:
*1: Costs at June 30, 2003 do not reflect necessary amortization/accretion of
premium/discount and impairment, and those at December 31, 2002 do not
reflect necessary amortization/accretion of premium/discount and impairment
in the first half of fiscal 2002.
*2: Amounts for BTM on "Foreign bonds" at June 30 2003 and those at December
31, 2002 are those held by all domestic offices and certain major overseas
offices.
(2) Interest related derivatives transactions qualifying for hedge accounting
(unit: billions of Japanese yen)
-------------------------------------------------------------------------------------------------------------------------
(Figures for reference)
At June 30, 2003 At December 31, 2002 At March 31, 2003
----------------------------------------------------------------------------------------------
Deferred Deferred Deferred Deferred Deferred Deferred
profit loss Net profit loss Net profit loss Net
-------------------------------------------------------------------------------------------------------------------------
Swaps 600.7 511.8 88.8 603.4 514.6 88.8 669.6 570.5 99.0
-------------------------------------------------------------------------------------------------------------------------
Futures 89.2 76.4 12.7 84.5 68.6 15.8 58.3 42.4 15.8
-------------------------------------------------------------------------------------------------------------------------
Options 2.4 0.3 2.1 2.6 1.5 1.1 0.7 0.6 0.1
-------------------------------------------------------------------------------------------------------------------------
Total 692.3 588.6 103.7 690.6 584.8 105.8 728.7 613.6 115.0
-------------------------------------------------------------------------------------------------------------------------
Note: Amounts for BTM at June 30, 2003 and those at December 31, 2002 are
derived from amounts booked at all domestic offices and certain major
overseas offices qualifying for hedge accounting.
4. Domestic deposits, classified by depositor
(unit: billions of Japanese yen)
-------------------------------------------------------------------------------------------------------------------------
(Figures for reference)
At June 30, 2003 At December 31, 2002 At March 31, 2003
-------------------------------------------------------------------------------------------------------------------------
Individuals 32,948.6 31,916.3 32,164.4
-------------------------------------------------------------------------------------------------------------------------
Corporation and others 20,838.8 19,502.7 19,903.8
-------------------------------------- ----------------------------------------------------------------------------------
Notes:
*1: Excluding negotiable certificates of deposit, deposits of overseas offices,
and JOM accounts.
*2: Amounts for BTM at June 30, 2003 and those at December 31, 2002 are based
on the numbers before elimination of temporary inter-office accounts.
* * *
(Appendix 1)
The Bank of Tokyo-Mitsubishi, Ltd.
1. Bankrupt Credits and credits sold in the first quarter of fiscal year 2003
(unit: billions of Japanese yen)
-----------------------------------------------------------------------------------------------------
Inc/dec of classified
assets based on the
Book balance before Financial Reconstruction
Number of borrowers Charge-offs/*2/ Law (FRL)/*3/
-----------------------------------------------------------------------------------------------------
Bankrupt Credits/*1/ 107 10.4 0.0
-----------------------------------------------------------------------------------------------------
Credits sold to RCC 101 - (13.3)
-----------------------------------------------------------------------------------------------------
Other credits sold 7 - (36.6)
----------------------------------------------------------------------------------------------------
Notes:
*1: Represents domestic borrowers who became legally bankrupt (i.e., who have
no prospects for continued business operations because of non-payment,
suspension of business, voluntary liquidation, filing for legal
liquidation, etc.) during the period from April 1, 2003 to June 30, 2003,
credits disclosed in accordance with the timely disclosure requirements
of the Tokyo Stock Exchange are included regardless of the location of
the borrowers.
*2: Book balance of Bankrupt Credits before deduction of amounts that should
be charged-off as of June 30, 2003.
*3: The numbers do not reflect the results of the self-assessment of assets
as of June 30, 2003, and represent the decrease in classified assets in
accordance with the FRL of Bankrupt Credits and credits sold for the
following factors only. For Bankrupt Credits, the balance represents the
difference of the amount of credits classified in accordance with the FRL
as of June 30, 2003 after deduction of amounts that should be charged-off
compared to the amount of the credits classified in accordance with FRL
as of March 31, 2003. For credits sold, the balance represents the amount
of the credits sold by June 30, 2003 that were classified in accordance
with FRL as of March 31, 2003.
*4: Number of borrowers, book balance before charge-offs, and increase in
classified assets in accordance with the FRL of domestic borrowers who
became high risk or substantially bankrupt debtors during the period from
April 1, 2003 to June 30, 2003 are 498 borrowers, (Yen) 40.5 billion,
(Yen) 23.8 billion, respectively. These numbers include material credits
under high risk or material substantially bankrupt debtors that do not
meet the criteria described hereinabove.
2. Consolidated risk adjusted capital ratio
------------------------------------------------- -----------------------
At September 30, 2003 At March 31, 2003
(Target) (Actual)
------------------------------------------------- -----------------------
Total capital Approx. 11% 10.43%
------------------------------------------------- -----------------------
Tier1 capital Approx. 5.5%-6.0% 5.34%
------------------------------------------------- -----------------------
3. Fair value information
(1) Marketable securities available-for-sale
(unit: billions of Japanese yen)
-------------------------------------------------------------------------------------------- --------------------------------
At June 30, 2003 At December 31, 2002 (Figures for reference)
At March 31, 2003
---------------------------------------------------------------- --------------------------------
Amortized Fair Unrealized Amortized Fair Unrealized Amortized Fair Unrealized
cost value gain(loss) cost value gain(loss) cost value gain(loss)
-------------------------------------------------------------------------------------------- --------------------------------
Domestic equity securities 2,425.0 2,436.8 11.7 3,142.9 2,678.8 (464.0) 2,605.7 2,315.2 (290.5)
-------------------------------------------------------------------------------------------- --------------------------------
Japanese government bonds 10,733.2 10,737.9 4.6 8,710.4 8,736.6 26.2 8,375.0 8,423.7 48.6
-------------------------------------------------------------------------------------------- --------------------------------
Foreign bonds 2,910.5 2,921.6 11.1 2,958.5 2,954.2 (4.2) 2,731.6 2,740.8 9.1
-------------------------------------------------------------------------------------------- --------------------------------
Notes:
*1: Costs at June 30, 2003 do not reflect necessary amortization/accretion of
premium/discount and impairment, and those at December 31, 2002 do not
reflect necessary amortization/accretion of premium/discount and impairment
in the first half of fiscal 2002.
*2: Amounts on "Foreign bonds" at June 30 2003 and those at December 31, 2002
are those held by all domestic offices and certain major overseas offices.
(2) Interest related derivatives transactions qualifying for hedge accounting
(unit: billions of Japanese yen)
-------------------------------------------------------------------------------------------- -------------------------------
(Figures for reference)
At June 30, 2003 At December 31, 2002 At March 31, 2003
--------------------------------------------------------------- -------------------------------
Deferred Deferred Deferred Deferred Deferred Deferred
profit loss Net profit loss Net profit loss Net
-------------------------------------------------------------------------------------------- -------------------------------
Swaps 313.8 248.8 65.0 262.0 196.4 65.6 356.3 286.5 69.7
-------------------------------------------------------------------------------------------- -------------------------------
Futures 88.9 76.2 12.7 83.6 67.7 15.9 57.5 41.9 15.6
-------------------------------------------------------------------------------------------- -------------------------------
Options 2.4 0.0 2.3 2.0 1.5 0.4 0.2 0.3 (0.1)
-------------------------------------------------------------------------------------------- -------------------------------
Total 405.2 325.1 80.1 347.7 265.6 82.1 414.1 328.8 85.3
-------------------------------------------------------------------------------------------- -------------------------------
Note: Amounts at June 30, 2003 and those at December 31, 2002 are derived from
amounts booked at all domestic offices and certain major overseas offices
qualifying for hedge accounting.
4. Domestic deposits, classified by depositor
(unit: billions of Japanese yen)
---------------------------------------------------------------------------------------------- --------------------------
(Figures for reference)
At June 30, 2003 At December 31, 2002 At March 31, 2003
---------------------------------------------------------------------------------------------- --------------------------
Individuals 26,224.6 25,319.8 25,483.1
---------------------------------------------------------------------------------------------- --------------------------
Corporation and others 17,595.2 16,236.6 16,844.3
---------------------------------------------------------------------------------------------- --------------------------
Notes:
*1: Excluding negotiable certificates of deposit, deposits of overseas offices,
and JOM accounts.
*2: Amounts at June 30, 2003 and those at December 31, 2002 are based on the
numbers before elimination of temporary inter-office accounts.
* * *
(Appendix 2)
The Mitsubishi Trust and Banking Corporation
1. Bankrupt Credits and credits sold in the first quarter of fiscal year 2003
(unit: billions of Japanese yen)
------------------------------------------------------------------------------------------------------
Inc/dec of classified
assets based on the
Book balance before Financial Reconstruction
Number of borrowers Charge-offs/*2/ Law (FRL)/*3/
------------------------------------------------------------------------------------------------------
Bankrupt Credits/*1/ 6 0.6 (0.0)
------------------------------------------------------------------------------------------------------
Credits sold to RCC 1 - -
------------------------------------------------------------------------------------------------------
Other credits sold 6 - (3.7)
------------------------------------------------------------------------------------------------------
Notes:
*1: Represents domestic borrowers who became legally bankrupt (i.e., who have
no prospects for continued business operations because of non-payment,
suspension of business, voluntary liquidation, filing for legal
liquidation, etc.) during the period from April 1, 2003 to June 30, 2003,
credits disclosed in accordance with the timely disclosure requirements
of the Tokyo Stock Exchange are included regardless of the location of
the borrowers.
*2: Book balance of Bankrupt Credits before deduction of amounts that should
be charged-off as of June 30, 2003.
*3: The numbers do not reflect the results of the self-assessment of assets
as of June 30, 2003, and represent the decrease in classified assets in
accordance with the FRL of Bankrupt Credits and credits sold for the
following factors only. For Bankrupt Credits, the balance represents the
difference of the amount of credits classified in accordance with the FRL
as of June 30, 2003 after deduction of amounts that should be charged-off
compared to the amount of the credits classified in accordance with FRL
as of March 31, 2003. For credits sold, the balance represents the amount
of the credits sold by June 30, 2003 that were classified in accordance
with FRL as of March 31, 2003.
*4: Number of borrowers, book balance before charge-offs, and increase in
classified assets in accordance with the FRL of domestic borrowers who
became high risk or substantially bankrupt debtors during the period from
April 1, 2003 to June 30, 2003 are 8 borrowers, (Yen) 11.2 billion, (Yen)
2.1 billion, respectively. These numbers include material credits under
high risk or material substantially bankrupt debtors that do not meet the
criteria described hereinabove.
*5: Numbers are on banking account and trust account combined basis. For
trust account, numbers include only the trusts with contracts that MTBC
guarantees for repayment of trust principal amount.
2. Consolidated risk adjusted capital ratio
------------------------------------------------ ------------------------
At September 30, 2003 At March 31, 2003
(Target) (Actual)
------------------------------------------------ ------------------------
Total capital Approx. 12.5% 12.00%
------------------------------------------------ ------------------------
Tier1 capital Approx. 6.5% 6.66%
------------------------------------------------ ------------------------
3. Fair value information
(1) Marketable securities available-for-sale
(unit: billions of Japanese yen)
-------------------------------------------------------------------------------------------------- --------------------------------
(Figures for reference)
At June 30, 2003 At December 31, 2002 At March 31, 2003
---------------------------------------------------------------------- --------------------------------
Amortized Fair Unrealized Amortized Fair Unrealized Amortized Fair Unrealized
cost value gain(loss) cost value gain(loss) cost value gain(loss)
-------------------------------------------------------------------------------------------------- --------------------------------
Domestic equity securities 859.8 825.5 (34.3) 1,221.6 962.0 (259.6) 920.8 776.2 (144.5)
-------------------------------------------------------------------------------------------------- --------------------------------
Japanese government bonds 2,071.3 2,109.8 38.5 2,045.0 2,089.3 44.3 2,114.7 2,167.9 53.2
-------------------------------------------------------------------------------------------------- --------------------------------
Foreign bonds 4,370.1 4,527.3 157.1 2,943.4 3,078.1 134.6 3,713.6 3,836.1 122.5
-------------------------------------------------------------------------------------------------- --------------------------------
Note: Costs at June 30, 2003 do not reflect necessary amortization/accretion of
premium/discount and impairment, and those at December 31, 2002 do not
reflect necessary amortization/accretion of premium/discount and
impairment in the first half of fiscal 2002.
(2) Interest related derivatives transactions qualifying for hedge accounting
(unit: billions of Japanese yen)
-------------------------------------------------------------------------------------------------- --------------------------------
(Figures for reference)
At June 30, 2003 At December 31, 2002 At March 31, 2003
------------------------------------------------------------------------ --------------------------------
Deferred Deferred Deferred Deferred Net Deferred Deferred Net
profit loss Net profit loss profit loss
-------------------------------------------------------------------------------------------------- --------------------------------
Swaps 286.8 262.9 23.8 341.3 318.2 23.1 313.3 284.0 29.3
-------------------------------------------------------------------------------------------------- --------------------------------
Futures 0.2 0.2 0.0 0.8 0.9 (0.0) 0.7 0.5 0.1
-------------------------------------------------------------------------------------------------- --------------------------------
Options - 0.2 (0.2) 0.6 - 0.6 0.5 0.2 0.2
-------------------------------------------------------------------------------------------------- --------------------------------
Total 287.0 263.4 23.6 342.8 319.1 23.7 314.5 284.8 29.7
-------------------------------------------------------------------------------------------------- --------------------------------
4. Domestic deposits, classified by depositor
(unit: billions of Japanese yen)
-------------------------------------------------------------------------------------------------- --------------------------------
(Figures for reference)
At June 30, 2003 At December 31, 2002 At March 31, 2003
------------------------------------------------------------------------ --------------------------------
Individuals 6,724.0 6,596.4 6,681.2
-------------------------------------------------------------------------------------------------- --------------------------------
Corporation and others 3,243.6 3,266.1 3,059.4
-------------------------------------------------------------------------------------------------- --------------------------------
Note: Excluding negotiable certificates of deposit, deposits of overseas
offices, and JOM accounts.
* * *