使用警語：中文譯文來源為 Google 翻譯，僅供參考，實際內容請以英文原文為主
Hironori Kamezawa - President, Group CEO, Representative Corporate Executive & Director
Hironori Kamezawa - President, Group CEO, Representative Corporate Executive & Director
I am Kamezawa. Thank you for taking time out of your busy schedule today to attend our MUFG IR presentation. Please turn to Page 6 of the material. I will start with an overview of the FY '22 financial results.
我是龜澤。感謝您今天在百忙之中抽出時間來參加我們的 MUFG IR 演示。請翻到材料的第 6 頁。我將首先概述 FY '22 的財務結果。
In FY '22, Line 6, profits attributable to owners of parent was JPY 1,116.4 billion, achieving the performance target of JPY 1 trillion, and on par with FY '21, which was a record high.
22 財年第 6 行歸屬於母公司所有者的利潤為 11,164 億日元，實現了 1 萬億日元的業績目標，與創歷史新高的 21 財年持平。
Line 1, gross profits increased by JPY 539 billion year-on-year to a record high of JPY 4,503 billion. Although we made progress in recording losses on sale of foreign bonds, the large increase was thanks to an increase of overseas interest income of loans and deposits due to global interest rate hikes and lending spread improvement, an increase in foreign loan-related fees as well as foreign exchange and trading income by capturing market fluctuations.
第一行，毛利潤同比增長 5390 億日元，達到 45030 億日元的歷史新高。雖然我們在出售外國債券的虧損記錄方面取得了進展，但大幅增加是由於全球利率上升和貸款利差改善導致貸款和存款的海外利息收入增加，以及外國貸款相關費用增加通過捕捉市場波動作為外彙和交易收入。
Line 2, G&A expenses increased by JPY 161.4 billion year-on-year but decreased by around JPY 30 billion in real terms, excluding the impact of foreign exchange and other factors. As a result, Line 3, NOP was JPY 1,594.2 billion, up by JPY 377.5 billion, recovering to the level prior to the introduction of negative interest rates.
第 2 行，G&A 費用同比增加 1614 億日元，但扣除外匯等因素的影響，實際減少約 300 億日元。結果，第 3 行 NOP 為 15,942 億日元，增加了 3,775 億日元，恢復到引入負利率之前的水平。
Line 4, total credit costs increased by JPY 343.4 billion year-on-year. But in real terms, after adjusting for impact of valuation losses on loans held by MUB, credit costs decreased by JPY 50.5 billion year-on-year.
第 4 行，總信貸成本同比增加 3434 億日元。但按實際價值計算，在調整估值損失對 MUB 持有貸款的影響後，信貸成本同比減少 505 億日元。
Line 6, profits attributable to owners of parent achieved the performance target of JPY 1 trillion, and was on par with the record high level in FY '21, thanks to an increase in NOP, mainly in the customer segments, despite valuation losses of bonds held by MUB as well as foreign bond position rebalance and onetime expenses to mitigate future risks. Please turn to Page 8 on NOP by business groups.
第 6 行，歸屬於母公司所有者的利潤實現了 1 萬億日元的業績目標，與 21 財年的歷史最高水平持平，這要歸功於 NOP 的增加，主要是在客戶領域，儘管債券估值出現虧損MUB 持有的債券以及外國債券頭寸再平衡和一次性費用，以減輕未來風險。請按業務組翻到第 8 頁的 NOP。
As shown in the step chart on the right, customer segments in total posted a significant increase of JPY 443.1 billion, while AM/IS decreased slightly due to the absence of large performance fees we had in FY '21. Other business groups enjoyed a profit increase, including higher net interest income from loans and deposits and foreign exchange-related income.
如右側的步驟圖所示，客戶群總額顯著增加了 4,431 億日元，而 AM/IS 由於我們在 21 財年沒有大筆績效費用而略有下降。其他業務集團的利潤增長，包括來自貸款和存款的淨利息收入以及與外匯相關的收入增加。
In Global Markets business group, we made progress in recording losses on sale of foreign bonds, but on the other hand, sales and trading revenues from foreign exchange and interest rates grew substantially, which curbed the decline in profit. Please skip to Page 16, which shows our balance sheet summary.
在全球市場業務方面，我們在出售外國債券的虧損方面取得了進展，但另一方面，外彙和利率的銷售和交易收入大幅增長，從而抑制了利潤的下降。請跳至第 16 頁，其中顯示了我們的資產負債表摘要。
Loans in the upper right red bar graph increased by JPY 1.3 trillion in domestic corporate loans, and decreased by JPY 1.8 trillion in overseas loans. But excluding the approximately JPY 7.5 trillion decrease in overseas loans due to the sale of MUB, loans increased by JPY 5.7 trillion.
右上紅色條形圖中的貸款在國內企業貸款中增加了 1.3 萬億日元，在海外貸款中減少了 1.8 萬億日元。但不包括因出售 MUB 而導致的海外貸款減少約 7.5 萬億日元，貸款增加了 5.7 萬億日元。
In deposits, lower right, domestic deposits increased, while overseas deposits decreased. This was, again, due to the approximately JPY 12 trillion decrease in deposits resulting from the sale of MUB, and excluding this effect, overseas deposits increased by roughly JPY 5 trillion.
右下的存款中，境內存款增加，而境外存款減少。這也是由於出售 MUB 導致存款減少約 12 萬億日元，排除這一影響，海外存款增加了約 5 萬億日元。
Page 17 shows domestic loans. The deposit lending spread shown in the upper right red line graph expanded significantly in Q4 of FY '22, partly due to individual transactions, but the trend of expansion continues, even excluding this factor.
第 17 頁顯示國內貸款。右上紅線圖所示的存貸利差在22財年第四季度顯著擴大，部分原因是個人交易，但擴大的趨勢仍在繼續，即使排除這一因素。
Page 18 shows overseas loans. The upper right line graph shows the deposit lending spread of the bank and trust bank on a nonconsolidated basis. Despite a slight decline recently due to higher deposit rates, it has steadily expanded since FY '21. In addition, as shown in the lower left graph, lending spread is also increasing steadily.
第 18 頁顯示海外貸款。右上折線圖顯示了銀行和信託銀行在非合併基礎上的存貸款利差。儘管最近由於較高的存款利率而略有下降，但自 21 財年以來穩步擴大。此外，如左下圖所示，貸款利差也在穩步增加。
Page 19 is investment securities. Although unrealized gains and losses decreased from the end of March '22, partly due to rising interest rates overseas, overall, unrealized gains on available-for-sale securities amounted to JPY 1.4 trillion. Of this amount, unrealized losses on foreign bonds as of the end of March amounted to about JPY 1.1 trillion, but as shown on the lower right, it amounted to approximately JPY 0.7 trillion after taking into account unrealized gains from hedging positions, improving from the peak at the end of September '22. Please skip to Page 21 on non-Japanese yen liquidity.
第 19 頁是投資證券。儘管未實現損益自 22 年 3 月底以來有所減少，部分原因是海外利率上升，但總體而言，可供出售證券的未實現收益總計 1.4 萬億日元。其中，截至 3 月底，外國債券的未實現損失約為 1.1 萬億日元，但如右下圖所示，考慮到對沖頭寸的未實現收益後，約為 0.7 萬億日元，從22 年 9 月底達到頂峰。請跳至非日元流動性的第 21 頁。
Although the current environment is uncertain, we are practicing stable balance sheet management. First, we cover loans with deposits and mid- to long-term market funding. We secure stickiness of deposits with regional and industry diversification, emphasize diversification of method and term of mid- to long-term market funding and possess high liquidity assets that can be quickly converted into cash in order to maintain a sound funding. Please jump to Page 23.
儘管當前環境不確定，但我們正在實施穩定的資產負債表管理。一是以存保貸，以中長期市場融資。我們以區域多元化和行業多元化確保存款粘性，強調中長期市場融資方式和期限的多元化，擁有可快速變現的高流動性資產，保持良好的融資狀況。請跳至第 23 頁。
As explained earlier, credit costs were JPY 280.8 billion, down by JPY 50.5 billion year-on-year in real terms. We expect credit costs for FY '23 to be JPY 300 billion, the same level as FY '22.
如前所述，信貸成本為 2808 億日元，按實際價值計算同比下降 505 億日元。我們預計 23 財年的信貸成本為 3000 億日元，與 22 財年持平。
Page 24 shows our capital status. CET1 ratio on the finalized Basel III reforms basis, excluding unrealized gains, remain adequate at 10.3%.
第 24 頁顯示我們的資本狀況。在最終確定的巴塞爾協議 III 改革基礎上，CET1 比率（不包括未實現的收益）保持在 10.3% 的充足水平。
Page 25 shows our performance targets for FY '23. Profits attributable to owners of parent is set at JPY 1.3 trillion, a record high. Although we expect a negative impact from the absence of NOP from MUB and the yen appreciation, we aim to achieve the financial target in the MTBP of 7.5% ROE by accumulating NOP in the customer segments.
第 25 頁顯示了我們 23 財年的績效目標。母公司所有者應占利潤達到 1.3 萬億日元，創歷史新高。儘管我們預計 MUB 沒有 NOP 和日元升值會帶來負面影響，但我們的目標是通過在客戶群中積累 NOP 來實現 7.5% ROE 的 MTBP 財務目標。
The business environment will continue to be difficult due to rising interest rates in Europe and the U.S. and concerns that the collapse of some overseas financial institutions will have a ripple effect on the real economy. But through the structural reforms undertaken to date, we have built a resilient business model in Japan and abroad and believe we can meet the needs of various customers on a group-wide basis, including our partner banks in Asia and Morgan Stanley. In FY '23, as the final year of the current MTBP, we will ensure that the effects of our past measures will lead to results and achieve the goals of the plan by all means.
受歐美利率上升、部分境外金融機構倒閉波及實體經濟的擔憂，營商環境將持續艱難。但通過迄今為止進行的結構改革，我們在日本和國外建立了一個有彈性的商業模式，並且相信我們可以在整個集團範圍內滿足各種客戶的需求，包括我們在亞洲的合作銀行和摩根士丹利。在 FY '23，作為當前 MTBP 的最後一年，我們將確保我們過去措施的效果將產生結果，並通過各種方式實現計劃的目標。
From Page 27, I will explain the progress of the MTBP starting from the progress of financial targets. ROE, which is positioned as the biggest commitment of the MTBP was 7.03% in FY '22, down year-on-year. But we are making steady progress towards achieving the MTBP target of 7.5%. The progress of the 3 drivers to achieve the ROE target, namely profits, expenses and risk-weighted assets, is shown in the bottom half.
從第27頁開始，我將從財務目標的進展情況開始解釋MTBP的進展情況。被定位為 MTBP 最大承諾的 ROE 在 22 財年為 7.03%，同比下降。但我們正在朝著實現 7.5% 的 MTBP 目標穩步前進。實現 ROE 目標的 3 個驅動因素的進展，即利潤、費用和風險加權資產，顯示在下半部分。
Lower left, NOP increased significantly from the previous year as a result of our efforts in line with our growth strategy. In particular, NOP in the customer segments increased by JPY 443.1 billion, and earning power is steadily improving. Profits attributable to owners of parent is also on track, achieving the MTBP target of stable net income of JPY 1 trillion or more ahead of schedule for 2 consecutive years. Expenses and risk-weighted assets, which will be explained later, are well under control in line with our MTBP policy.
左下角，由於我們按照我們的增長戰略所做的努力，NOP 比上一年顯著增加。特別是客戶群的NOP增加了4431億日元，盈利能力穩步提升。歸屬於母公司所有者的利潤也步入正軌，連續 2 年提前實現淨收入穩定在 1 萬億日元或以上的 MTBP 目標。根據我們的 MTBP 政策，費用和風險加權資產（稍後將進行解釋）得到很好的控制。
Page 28 shows the status lower initiatives to increase shareholder value. As shown on the lower right, we will continue to improve ROE through the strategies for growth, structural reforms and capital management initiatives set forth in our MTBP and aim to increase shareholder value sustainably.
第 28 頁顯示了地位較低的增加股東價值的舉措。如右下圖所示，我們將通過 MTBP 中提出的增長戰略、結構改革和資本管理舉措繼續提高 ROE，並旨在可持續地增加股東價值。
Please turn to Page 31, which is on the progress of our key strategies. First of all, the first pillar of corporate transformation is digital transformation. This page shows our efforts to optimize customer touch points using digital technology. As shown in the upper graph, we have been consolidating branches in response to the increasing number of customers choosing online touch points, such as Internet banking, but the consolidation phase completed in FY '22.
請翻到第 31 頁，這是我們主要戰略的進展情況。首先，企業轉型的第一支柱是數字化轉型。此頁面展示了我們使用數字技術優化客戶接觸點的努力。如上圖所示，我們一直在整合分支機構，以響應越來越多的客戶選擇網上銀行等在線接觸點，但整合階段在 22 財年完成。
Going forward, we will flexibly expand customer touch points to meet their diverse needs, both face-to-face and non-face-to-face, which includes considering new branch format. In addition, as shown in the lower part of the page, we will strive to improve convenience, both over-the-counter and online. Please turn to Page 32.
展望未來，我們將靈活擴展客戶接觸點以滿足他們面對面和非面對面的多樣化需求，其中包括考慮新的分行形式。此外，如頁面下部所示，我們將努力提高場外交易和在線交易的便利性。請翻到第 32 頁。
Left side shows our efforts to expand new customer base. Top left, d smartbank launched with NTT DOCOMO last December is making progress in acquiring new accounts outside the 3 major metropolitan areas where account openings have been relatively low.
左側顯示了我們為擴大新客戶群所做的努力。左上角，去年 12 月與 NTT DOCOMO 合作推出的 d smartbank 在開戶率相對較低的 3 個主要大都市地區以外的新賬戶獲取方面取得了進展。
Bottom left is on our acquisition of Kanmu, a company with strength in hassle-free deferred payment. The number of downloads of the VANDLE CARD application offered by Kanmu has exceeded $6 million, mainly among young adults. In the future, MUFG will work with Kanmu to add hassle-free deferred payment to our product lineup to increase the number of young customers in particular.
左下圖是我們收購 Kanmu，一家在無障礙延期付款方面具有實力的公司。 Kanmu 提供的 VANDLE CARD 應用程序的下載量已超過 600 萬美元，主要在年輕人中。未來，MUFG 將與坎木合作，將無憂延期付款添加到我們的產品陣容中，以增加尤其是年輕客戶的數量。
These are all examples of expanding our approach to areas where we may have had shortfalls in the past. Right side shows our efforts for financial and digital platform operators. Money Canvas, our asset management platform, has been expanding its lineup to include products from other companies. Going forward, we will further enhance its asset-building functionality by expanding investment using points.
這些都是將我們的方法擴展到我們過去可能存在不足的領域的所有例子。右側顯示了我們為金融和數字平台運營商所做的努力。我們的資產管理平台 Money Canvas 一直在擴展其產品陣容，以包括來自其他公司的產品。展望未來，我們將通過擴大使用積分的投資來進一步增強其資產建設功能。
Lower right is Progmat. Our digital asset platform. In addition to security tokens, we enhanced digital assets such as utility tokens, and the balance of assets managed exceeded JPY 40 billion as of this April. Based on the belief that unparalleled convenience through co-creation among network participants is indispensable for full-scale expansion of the digital asset market, we are pursuing our plan to make Progmat an independent company so that it can become a neutral cross-industry organization. Through these efforts, we will strengthen our position as a financial and digital platform operator.
右下方是 Progmat。我們的數字資產平台。除了安全代幣，我們還增強了實用型代幣等數字資產，截至今年 4 月，管理的資產餘額已超過 400 億日元。基於網絡參與者之間共同創造的無與倫比的便利性對於數字資產市場的全面擴張不可或缺的信念，我們正在推行我們的計劃，使 Progmat 成為一家獨立的公司，使其成為一個中立的跨行業組織。通過這些努力，我們將鞏固我們作為金融和數字平台運營商的地位。
Page 33 shows our initiatives to meet digital financial needs in Asia. Left side shows our investment in digital financial players in Asia. In an countries, digital financial services utilizing data and AI technology are emerging. In order to capture these digital financial needs in Asia in a diversified manner, we decided to acquire Home Credit's operation in Indonesia and the Philippines and to invest in Akulaku and DMI Finance. In addition to these investments, we also made investments through funds and executed a total of 3 investments through MUFG Ganesha Fund, an investment facility for startups in India. We also established a new $100 million fund to invest in Indonesian startups.
第 33 頁展示了我們為滿足亞洲數字金融需求而採取的舉措。左側顯示我們對亞洲數字金融公司的投資。在一個國家，利用數據和人工智能技術的數字金融服務正在興起。為了以多元化的方式捕捉亞洲的這些數字金融需求，我們決定收購捷信在印度尼西亞和菲律賓的業務，並投資 Akulaku 和 DMI Finance。除了這些投資，我們還通過基金進行投資，並通過印度初創企業投資機構 MUFG Ganesha Fund 進行了總共 3 筆投資。我們還設立了一個新的 1 億美元基金，用於投資印度尼西亞的初創企業。
Right side shows our initiatives to expand our financial capabilities through open innovation. Mars Growth Capital, which started in Asia, is taking on the challenge of expanding its financial capabilities by developing AI-based financing model in fund structure to finance startups. Since its launch, it has steadily built a track record and increased its total fund size to $750 million in January. In addition, we decided to establish Mars Japan, which will provide loans to Japanese startups in order to leverage the knowledge that MARS has cultivated overseas to the development of venture companies in Japan.
右側顯示了我們通過開放式創新擴大財務能力的舉措。起步於亞洲的火星資本正在挑戰通過在基金結構中開發基於人工智能的融資模型來為初創企業融資，從而擴大其金融能力。自推出以來，它穩步建立了業績記錄，並在 1 月份將其基金總規模增加到 7.5 億美元。此外，我們決定成立Mars Japan，為日本的初創企業提供貸款，以便將MARS在海外積累的知識用於日本風險企業的發展。
By providing growth capital to promising pre-unicorn companies in Japan, Mars Japan will help to create and accelerate growth of world-class unicorn companies originating in Japan. In addition, we plan to launch a fund for European start-ups and a new fund that utilizes NEXI's insurance scheme and will expand and develop Mars initiatives globally.
通過為日本有前途的前獨角獸公司提供成長資本，瑪氏日本將幫助創建和加速源自日本的世界級獨角獸公司的成長。此外，我們計劃為歐洲初創企業推出一個基金和一個利用 NEXI 保險計劃的新基金，並將在全球範圍內擴展和發展瑪氏計劃。
We decided to invest a total of approximately JPY 200 billion in these initiatives during FY '22, which brings our cumulative total to over JPY 400 billion, including our investment in Grab and Mars. We will continue to consider strategic investments to capture diverse financial needs in Asia. Please turn to Page 34.
我們決定在 22 財年期間向這些計劃投資總計約 2000 億日元，這使我們的累計投資總額超過 4000 億日元，其中包括我們對 Grab 和 Mars 的投資。我們將繼續考慮戰略投資，以捕捉亞洲多樣化的金融需求。請翻到第 34 頁。
Transformation of corporate culture is one of our corporate transformation efforts. We have been working to change the employees' mindset and provide opportunities to take on challenges so that challenge and speed take root in the behavioral patterns of each and every employee. As shown in the upper right, our score for challenge maintains a high level. We are receiving an increasing number of positive comments such as MUFG has changed. On the other hand, speed remains an issue, and we are moving forward with a drastic simplification to achieve speedy business operations.
企業文化的改造是我們企業轉型的努力之一。我們一直致力於改變員工的心態，提供接受挑戰的機會，讓挑戰和速度在每一位員工的行為模式中生根發芽。如右上圖所示，我們的挑戰得分保持在較高水平。我們收到越來越多的正面評價，例如 MUFG 已更改。另一方面，速度仍然是一個問題，我們正在大力簡化以實現快速的業務運營。
Page 35 is on our efforts to put the MUFG way into practice. Left side, in Spark X in-house new business incubation program, 3 projects that were selected via the final screening are moving toward commercialization with full management support.
第 35 頁是關於我們將 MUFG 方法付諸實踐的努力。左側，在Spark X內部新業務孵化計劃中，通過最終篩選選出的3個項目在全面的管理支持下正在走向商業化。
Next right side, the concept for MUFG headquarter building was decided based on free and active discussions among the working group members. We believe these discussions themselves have led to cultural transformation, and we'll continue the headquarter building project led by the second working group members. By encouraging employees to realize their purpose in My Way under MUFG purpose, we will work to create a work environment that provides a sense of excitement.
下右側，MUFG總部大樓的概念是基於工作組成員之間自由和積極的討論而確定的。我們相信這些討論本身已經導致了文化轉型，我們將繼續由第二個工作組成員領導的總部大樓項目。通過鼓勵員工在 MUFG 目標下實現他們在 My Way 中的目標，我們將努力創造一個提供興奮感的工作環境。
Page 36 shows the progress of the strategy for growth and structural reforms. As shown on the left, strategy for growth aims to increase NOP by JPY 150 billion during the 3-year MTBP, which was achieved ahead of schedule in the 2 years up to FY '22 with an increase of JPY 400 billion. Right side shows the structural reforms, which has reached JPY 85 billion by FY '22 and is well on track to achieve the target of JPY 100 billion.
第 36 頁顯示了增長和結構改革戰略的進展情況。如左圖所示，增長戰略的目標是在 3 年 MTBP 期間將 NOP 增加 1500 億日元，這在截至 22 財年的兩年內提前實現，增加了 4000 億日元。右側顯示結構性改革，到 22 財年已達到 850 億日元，並有望實現 1000 億日元的目標。
The progress of each growth strategy is shown on Pages 38 through 42. But here, I will just give a brief overview. In Wealth Management on the far left, AUM is increasing steadily, thanks to an increase in cross transactions in inheritance and real estate through the use of digital platforms.
每個增長戰略的進展在第 38 頁到第 42 頁顯示。但在這裡，我只做一個簡要的概述。在最左邊的財富管理中，AUM 正在穩步增長，這要歸功於通過使用數字平台進行的繼承和房地產交叉交易的增加。
Second from the left is approach of proposing solutions to customers' issues. We are steadily building up earnings while helping customers address social issues through enhanced risk taking and business investments with customers.
左起第二個是針對客戶問題提出解決方案的方法。我們正在穩步增加收益，同時通過加強風險承擔和與客戶的業務投資幫助客戶解決社會問題。
Third is Asia business. Bank of Ayudhya or Krungsri is steadily capturing growth in Asia through inorganic strategies such as the acquisition of Home Credit. Bank Danamon struggled on the other hand, partly due to the prolonged impact of COVID-19, but we will continue to strengthen group-wide collaboration to build up earnings.
三是亞洲業務。大城銀行 (Bank of Ayudhya) 或 Krungsri 正在通過收購捷信 (Home Credit) 等無機戰略穩步實現亞洲增長。另一方面，銀行 Danamon 陷入困境，部分原因是 COVID-19 的長期影響，但我們將繼續加強集團範圍內的合作以增加收益。
Fourth is GCIB and Global Markets. In our key focus area of institutional investor business, we are steadily increasing earnings by strengthening our risk appetite and prioritizing highly profitable transactions.
第四是 GCIB 和 Global Markets。在機構投資者業務的重點領域，我們通過加強風險偏好和優先考慮高利潤交易來穩步增加收益。
Finally, the fifth strategy is global AM/IS. In Global AM, NOP was negatively impacted by external factors such as AUM decrease from market decline, but in the alternative investment area where high growth is expected, we decided to acquire AlbaCore Capital. In addition, in Global IS, we grew our assets under administration significantly. We will continue to consider strategic investments to expand our capabilities and increase earnings. Please turn to Page 37.
最後，第五個戰略是全球 AM/IS。在Global AM方面，NOP受到市場下跌導致AUM下降等外部因素的負面影響，但在預期高增長的另類投資領域，我們決定收購AlbaCore Capital。此外，在 Global IS 中，我們管理的資產顯著增加。我們將繼續考慮戰略投資，以擴大我們的能力並增加收益。請翻到第 37 頁。
In light of the steady progress of our strategy for growth and changes in the environment, such as rising interest rates, we revised our NOP target by business group for FY '23. As shown on the right, JCIB and GCIB revised their NOP target upward, mainly due to the increase on non-Japanese yen loan and deposit interest income resulting from higher interest rates. GCB and Global Markets revised downward due to the impact of MUB share transfer and the changes in the market conditions, respectively. But overall, our policy to achieve the NOP target of JPY 1.4 trillion remains unchanged.
鑑於我們的增長戰略穩步推進和環境變化（例如利率上升），我們修改了 23 財年各業務集團的 NOP 目標。如右圖所示，JCIB 和 GCIB 上調了 NOP 目標，主要是由於利率上升導致非日元貸款和存款利息收入增加。由於 MUB 股份轉讓的影響和市場狀況的變化，GCB 和 Global Markets 分別下調。但總體而言，我們實現 1.4 萬億日元 NOP 目標的政策保持不變。
Please skip to Page 43 on cost and risk-weighted assets control. Expenses are well controlled as we have been generating expenses for business growth by reducing base expenses.
請跳至有關成本和風險加權資產控制的第 43 頁。費用得到很好的控制，因為我們一直在通過減少基本費用來為業務增長產生費用。
Page 44 is RWA. Excluding foreign exchange impact, we have been successfully controlling RWA at the same level as the end of March '21. We will continue aiming for higher risk return through disciplined RWA management.
第 44 頁是 RWA。排除外匯影響，我們已成功將 RWA 控制在與 21 年 3 月末相同的水平。我們將繼續通過紀律嚴明的風險加權資產管理，爭取更高的風險回報。
Page 45 is on our Americas strategy. As shown on the lower left, we completed MUB's share transfer last December. Going forward, we will concentrate our management resources on wholesale business where we can leverage MUFG's strength and aim for further growth and higher profitability in the Americas business through bank, trust bank securities collaboration and stronger partnership and alliance with Morgan Stanley.
第 45 頁是我們的美洲戰略。如左下圖所示，我們在去年12月完成了MUB的股權轉讓。展望未來，我們將把我們的管理資源集中在批發業務上，我們可以利用 MUFG 的實力，並通過銀行、信託銀行證券合作以及與摩根士丹利更牢固的伙伴關係和聯盟，在美洲業務實現進一步增長和更高的盈利能力。
Page 46 is on Asia. In order to meet various financial needs in the expanding Asian market, we are investing in the digital financial service domain. In addition to our traditional commercial banking platform, by establishing a structure that can meet wide-ranging needs, such as fulfilling financial needs in off-line stores and online purchases, we will capture growth in Asia in multifaceted fashion.
第 46 頁是關於亞洲的。為了滿足不斷擴大的亞洲市場的各種金融需求，我們正在投資數字金融服務領域。除了我們傳統的商業銀行平台，通過建立一個可以滿足廣泛需求的結構，例如滿足線下商店和網上購物的金融需求，我們將以多方面的方式抓住亞洲的增長。
Page 47 shows the transformation of platforms in our business infrastructure and the evolution of our business operations overseas. We are promoting the efficient allocation of management resources through centralization and standardization of overseas operations, utilizing a subsidiary in India and optimization of our overseas office network as well as pursuing synergies and upgrading strategies by building an integrated management framework for CIB operations in Europe and the U.S.
第 47 頁顯示了我們業務基礎架構中的平台轉型以及我們海外業務運營的演變。我們通過海外業務的集中化和標準化，利用印度子公司和優化海外辦事處網絡，促進管理資源的高效配置，通過構建歐洲和歐洲CIB業務的一體化管理框架，尋求協同和升級戰略。我們。
From Page 48, let me touch on some ideas for the next MTBP starting from environmental awareness. While the traditional megatrends of green and digital are accelerating further, the business environment surrounding MUFG has changed significantly since the start of the current MTBP. Last year, in particular, saw a series of historic events such as Russia's invasion of Ukraine, high inflation and shifts in monetary policy in Europe and the U.S. and credit insecurity over some Western banks. I cannot remember a year in which we have experienced such major changes in the environment.
從第 48 頁開始，讓我談談從環保意識開始的下一個 MTBP 的一些想法。雖然傳統的綠色和數字化大趨勢正在進一步加速，但自當前 MTBP 開始以來，MUFG 周圍的商業環境發生了顯著變化。尤其是去年，發生了俄羅斯入侵烏克蘭、歐美高通脹和貨幣政策轉向、部分西方銀行信用不安全等一系列歷史性事件。我不記得哪一年我們經歷瞭如此重大的環境變化。
I attended the World Economic Forum in Davos this past January and felt the enthusiasm for normalization from COVID-19 and the transition to the next stage as well as the fact that we are in an era of division and decentralization at various levels, including national, economic and social as evidenced by the overall theme of the conference. On the other hand, the development of digital technology allows individuals and companies to be instantly connected beyond time and place. We are in an age of division and then connection. It is seemingly contradictory, but I believe this is the era we live in today. Please turn to Page 49.
今年 1 月，我參加了在達沃斯舉行的世界經濟論壇，感受到了從 COVID-19 開始正常化和過渡到下一階段的熱情，以及我們正處於各個層面的分裂和權力下放時代，包括國家、會議的總體主題證明了經濟和社會。另一方面，數字技術的發展讓個人和企業可以超越時空即時連接。我們處在一個先分裂後聯繫的時代。看似矛盾，但我相信這就是我們今天生活的時代。請翻到第 49 頁。
In such times, I believe that MUFG needs to strengthen and demonstrate its function to connect the world. Finance has the power to connect many things: settlement of funds connecting remote areas, financial intermediation connecting depositors and investors, M&A and investment banking services across nationalities between developed and emerging countries and asset management and succession connecting parents' generation with their children and grandchildren and what we connect our irreplaceable assets, business funds and personal and company data.
在這樣的時代，我認為 MUFG 需要加強和展示其連接世界的功能。金融有連接很多東西的力量：連接偏遠地區的資金結算，連接儲戶和投資者的金融中介，發達國家和新興國家之間的跨國併購和投行服務，連接父輩和子孫後代的資產管理和傳承。我們將不可替代的資產、業務資金以及個人和公司數據聯繫起來。
Financial platform operators require a high level of trust, credibility and safety. And we, MUFG, have the strength to connect the world, including human resources, group capabilities, integrity and responsibility. In the last year of the current MTBP, we will further strengthen NFG's assets through human resources investment and risk-taking capabilities, in addition to the completion of the MTBP and further enhance our connecting functions to achieve further growth and gain greater competitiveness in the next MTBP. Please skip to Page 52.
金融平台運營商需要高度的信任、信譽和安全。而我們，MUFG，擁有連接世界的力量，包括人力資源、團隊能力、誠信和責任。在當前 MTBP 的最後一年，除了完成 MTBP 之外，我們將通過人力資源投資和風險承擔能力進一步加強 NFG 的資產，並進一步增強我們的連接功能，以實現進一步的增長並在接下來的時間獲得更大的競爭力平均生產成本。請跳至第 52 頁。
Let me explain our capital policy from here. In the current MTBP, we announced a target CET1 ratio of 9.5% to 10% as our capital management policy. Although the current CET1 ratio is above the target range, we need to assess the impact of the collapse of overseas financial institutions and other events on the real economy and on the regulatory environment. We believe that this is a phase where we need to operate with some capital buffer. Please skip to Page 56, which is on shareholder returns.
讓我從這裡解釋我們的資本政策。在當前的 MTBP 中，我們宣布了 9.5% 至 10% 的目標 CET1 比率作為我們的資本管理政策。雖然目前CET1比例高於目標區間，但我們需要評估境外金融機構倒閉等事件對實體經濟和監管環境的影響。我們認為，在這個階段，我們需要使用一些資本緩衝來運作。請跳至有關股東回報的第 56 頁。
In FY '22, we increased the dividend per share by JPY 4 and completed a share repurchase of JPY 450 billion, which was the largest ever. For FY '23, our annual DPS forecast is JPY 41, a record increase of JPY 9 in order to achieve the dividend payout ratio of 40% set forth in the MTBP. Although we decided to forgo the share repurchase this time given the current situation, we will consider share repurchase in a continuous and flexible manner in FY '23.
在 22 財年，我們將每股股息提高了 4 日元，並完成了 4500 億日元的股票回購，這是有史以來規模最大的一次。對於 23 財年，我們的年度 DPS 預測為 41 日元，創紀錄地增加了 9 日元，以實現 MTBP 中規定的 40% 的股息支付率。雖然鑑於目前的情況，我們這次決定放棄股票回購，但我們將在 23 財年考慮以持續和靈活的方式回購股票。
Page 57 shows our equity holdings. As shown on the right side, we reduced JPY 154 billion on an acquisition cost basis in FY '22, bringing the total amount of sale since FY '21 to JPY 323 billion, and we are making steady progress toward our MTBP target of JPY 500 billion. Please turn to Page 59.
第 57 頁顯示了我們的股權。如右側所示，我們在 22 財年的購置成本基礎上減少了 1540 億日元，使自 21 財年以來的銷售總額達到 3230 億日元，並且我們正在朝著 500 日元的 MTBP 目標穩步前進十億。請翻到第 59 頁。
From here, I will explain our approach to sustainability. First, let me touch on the progress of our efforts towards carbon neutrality. Since the MUFG carbon neutrality declaration in 2021, I think we have made significant progress in setting emission targets for our financed portfolio and our own operations as well as disclosing actual results. This year, MUFG plans to publish its own transition plan and will accelerate our initiatives toward Net Zero. Please skip to Page 61.
從這裡開始，我將解釋我們的可持續發展方法。首先，讓我談談我們為實現碳中和所做的努力的進展情況。自 2021 年 MUFG 碳中和聲明以來，我認為我們在為我們的融資組合和我們自己的運營設定排放目標以及披露實際結果方面取得了重大進展。今年，MUFG 計劃發布自己的過渡計劃，並將加快實現淨零的舉措。請跳至第 61 頁。
Let me explain MUFG's approach to achieving carbon neutrality. As indicated in, 1, MUFG has been involved in rule-making by submitting policy recommendations in collaboration with industries and government agencies. This year, we plan to publish MUFG transition white paper 2.0 to list the technologies that will require financial support in the decarbonization of Japan.
讓我解釋一下 MUFG 實現碳中和的方法。如 1 所示，MUFG 通過與行業和政府機構合作提交政策建議，參與了規則制定。今年，我們計劃發布 MUFG 轉型白皮書 2.0，列出日本脫碳需要資金支持的技術。
As shown in 2 on the bottom left, we also conducted engagement activities with 1,500 customers in Japan and abroad and provided solutions in line with our policies and strategies by collaborating with external partners.
如左下圖 2 所示，我們還與國內外 1,500 家客戶開展了交流活動，並通過與外部合作夥伴的合作，提供了符合我們政策和戰略的解決方案。
Furthermore, as noted in 3 on the bottom right, we are committed to working side by side with our customers in their decarbonization efforts in a responsible manner by strengthening our relationships, not only with our customers but also with local governments in Hokkaido and other regions and throughout Asia.
此外，如右下角 3 中所述，我們致力於通過加強我們與客戶以及北海道和其他地區地方政府的關係，以負責任的方式與客戶並肩努力，共同努力實現脫碳以及整個亞洲。
Page 62 is on initiative to support decarbonization through financial services. Sustainable finance has steadily grown its balance to a cumulative total of JPY 24.6 trillion. In addition, as shown on the right side, a wide range of transition support cases are accumulating. Please turn to Page 63 on our initiatives to reduce GHG emissions.
Page 62 倡議通過金融服務支持脫碳。可持續金融的餘額穩步增長，累計達到 24.6 萬億日元。此外，如右圖所示，正在積累廣泛的過渡支持案例。請翻到第 63 頁，了解我們減少溫室氣體排放的舉措。
Top left. Regarding the GHG emissions from our financed portfolio, we are now considering setting new interim targets for auto, airline, coal and other sectors, in addition to the existing disclosure of interim targets and results. Lower left, as for emissions from our own operations, we have already shifted to 100% renewable energy for electricity procured by all domestic consolidated subsidiaries. Going forward, MUFG will continue to work to improve the credibility of our initiatives by obtaining third-party assurance while proceeding with initiatives in line with the newly disclosed road map.
左上方。關於我們融資組合的溫室氣體排放，除了現有的中期目標和結果披露之外，我們現在正在考慮為汽車、航空、煤炭和其他行業設定新的中期目標。左下角，關於我們自身業務的排放，我們已經將所有國內合併子公司採購的電力轉向 100% 可再生能源。展望未來，MUFG 將繼續努力通過獲得第三方保證來提高我們舉措的可信度，同時根據新披露的路線圖推進舉措。
Upper right shows our initiatives as an asset manager to achieve NZAM's interim targets, we will further expand sustainable investments through the establishment of a new division among 5 MUFG asset management companies and the establishment of a sustainable investing policy. In addition, we will accelerate our engagement with portfolio companies to promote their transitions. Finally, lower right, we will take a lead to vitalize domestic and global carbon credit market through forest fund investments.
右上角顯示了我們作為資產管理公司為實現 NZAM 的中期目標而採取的舉措，我們將通過在 5 家 MUFG 資產管理公司之間建立新部門並製定可持續投資政策來進一步擴大可持續投資。此外，我們將加快與投資組合公司的合作，以促進他們的轉型。最後，右下角，我們將率先通過森林基金投資來振興國內和全球碳信用市場。
Page 64 is on our initiatives for human capital expansion. MUFG's aim is to become a global financial group where each and every employee plays active roles lively and contributes to society and clients. As shown on the lower left, MUFG will further expand our investment in human capital by substantially raising wages and increasing training development in order to secure professionals.
第 64 頁介紹了我們的人力資本擴張計劃。 MUFG的目標是成為一家全球金融集團，每一位員工都積極發揮作用，為社會和客戶做出貢獻。如左下圖所示，三菱日聯金融集團將通過大幅提高工資和加大培訓力度來進一步擴大人力資本投資，以確保專業人員的安全。
Upper right, in DE&I, we raised our target ratio of women in management by 2% as we did in FY '22 in response to the steady increase. We will continue to focus on the development of an HR framework that allows diverse talents to pursue professionalism and build their career autonomously as well as on initiatives that focus on employees' mental and physical health.
右上角，在 DE&I 中，我們將管理層中女性的目標比例提高了 2%，就像我們在 22 財年所做的那樣，以應對穩步增長。我們將繼續專注於構建讓多元化人才追求專業精神和自主發展職業生涯的人力資源框架，以及關注員工身心健康的舉措。
This concludes my explanation. Under the purpose of committed to empowering a brighter future, we at MUFG will continue to vigorously pursue challenges and transformation as a group in order to become the power that moves all of our stakeholders forward, including society, customers and employees to the next stage of change. We would like to ask all of our investors and rating agencies for your continued understanding and support.
我的解釋到此結束。在致力於賦能更美好未來的宗旨下，我們三菱日聯集團將繼續作為一個整體積極尋求挑戰和轉型，以成為推動包括社會、客戶和員工在內的所有利益相關者邁向下一階段的力量。改變。我們希望所有投資者和評級機構繼續理解和支持。
[Statements in English on this transcript were spoken by an interpreter present on the live call.]
[現場通話中的口譯員用英語對這份成績單進行了陳述。]