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MUFG Consumer Finance Strategy （PDF / 303KB） MUFG Consumer Finance Strategy September 28, 2007 Mitsubishi UFJ Financial Group 0 This document contains forward-looking statements in regard to forecasts, targets and plans of Mitsubishi UFJ Financial Group, Inc. (“MUFG”) and its respective group companies (collectively, “the group”). These forward-looking statements are based on information currently available to the group and are stated here on the basis of the outlook at the time that this document was produced. In addition, in producing these statements certain assumptions (premises) have been utilized. These statements and assumptions (premises) are subjective and may prove to be incorrect and may not be realized in the future. Underlying such circumstances are a large number of risks and uncertainties. Please see other disclosure and public filings made or will be made by MUFG and the other companies comprising the group, including the latest kessantanshin, the Form 20F financial reports, Japanese securities reports and annual reports, for additional information regarding such risks and uncertainties. The group has no obligation or intent to update any forward-looking statements contained in this document. In addition, information on companies and other entities outside the group that is recorded in this document has been obtained from publicly available information and other sources. The accuracy and appropriateness of that information has not been verified by the group and cannot be guaranteed. The financial information used in this document was prepared in accordance with accounting standards generally accepted in Japan, or Japanese GAAP. 1 Contents 1. Outline of MUFG’s Retail Business 2. Trends in the Consumer Finance Market 3. Announced plans （1） Summary of announced plans （2） Implications for JACCS and its installment credit business （3） Implications for Mitsubishi UFJ NICOS （4） Thorough measures to shift to proactive approach （5） Credit Card business as MUFG’s core business alongside banking , trust banking and securities 4. MUFG’s Consumer Finance Business Formation 5. MUFG’s Credit Card Business: Outline and strengths （1） Bank-issued credit cards （2） Cost competitiveness through maximizing share and concentrating functionalities of systems / operations （3） Summary 6. MUFG’s Consumer Loan Business 7. Growth outlook for MUFG’s Consumer Finance Business 2 1. Outline of MUFG’s Retail Business Overall Customer assets : ¥ 90 tn Consumer finance Loans (End Jul. 07) (+¥4 tn YoY) ¾BTMU non-consolidated □Housing loans: ¥2.6 tn extended in FY06 □Steady increase in Comprehensive Card members □Housing loan balance at End Jun. 07 : ¥17 tn ¾Retail deposits (1.7 mn cards at End Aug. 07) +¥0.1 tn YoY excluding securitization □Steady growth □Plan to release new personal loan products □7 serious illnesses product: Over ¥1 tn in a year : Balance (End Jun. 07) : ¥62 tn □Consolidated loan promotion offices to boost Business promotion Business (+¥1.3 tn YoY) ¾BTMU consolidated (Mitsubishi UFJ NICOS) efficiency (189 at time of integration→132) □Japan’s largest card company ¾Bank/Trust bank cooperation ¾Investment products (FY06 Gross billings ¥7.1 tn, 26 mn members at End Mar. 07) (Inheritance business) □Steady growth in sales (sales of 3 investment □Sep 20 announced full-scale structural reform □40 MUTB staff seconded to BTMU products FY05: ¥4.1 tn; FY06: ¥4.7 tn) →To become wholly-owned subsidiary of MUFG □Preparing for full deregulation of ¾Fees & commissions: Strengthen business insurance products sales ¾ACOM base /improve customer satisfaction □Returning excess interest □Abolished transfer fees (BTMU/MUTB) May 06 □Reduced interest on new loans (June), actively □Reduced CVS ATM usage fees (BTMU) Mar. 07 Combined banking/Securities model moving customers to new rates ¾Channels: No. of Branches MUFG 871, □FY07 Q1 profits +20% YoY (securities intermediation) (of which BTMU: 671) □635 staff seconded from MUS to BTMU ¾JACCS □MUFG PLAZA 63 branches (Plan to grow to 100) □ □ FY06 sales ¥900 bn, major contribution to growth taking over installment credit business of NICOS PBO 13 (Plan to grow to 30) □ □CVS ATM (25,000) of MUS business base (customer assets) Joining the Group (as equity method affiliate) □Strong increase in accounts (#190,000) ¾DC CashOne, Mobit, etc. ¾Marketing □Strong sales of JGBs for individuals □Steadily growing balances under interest rate □Launch new products and services （ MUFG total FY06 sales of ¥700bn) restriction law □Strengthen database marketing New companies ¾Internet strategy 1 ¾Internet strategy 2 ¾Segment strategy ¾Loan strategy ¾Regional strategy 9kabu.com Securities 9DeNA 9MU Merrill Lynch PB Securities 9Japan Housing Finance Agency 9Strengthen tie-ups with Alliances/ □TOB implemented (Apr. 07) □PAYGENT established/ Net launched (May 06) □Released joint securitization partner regional banks □Bank agency business (Apr. 07) settlement business (Aug. 06) □Strong performance scheme 9Strengthen alliance with □Consolidated sub. (Jun. 07) □ JA (Norinchukin) 9KDDI 9Walt Disney 9JTB As a result developing alliances □MNB preparatory co. established □Joint net branch launched □QLC steady starting with regional banks, Norinchukin, etc. 9Pursue Kyushu and Chubu (May 06) (May 07) 9Walt Disney (May 07) 9Alliances with major housebuilders strategies □MNB to start business □Aim to expand business with young □Strengthen sales route via (planned H1 2008) /female customers housing brokers Internal control ¾Organization/ Staffing ¾Internal control ¾CS ¾ES ¾Staff development □Area administrators assigned □Enhancing customer response □Since integration a total of 37,000 □HQ staff reduced by around 700 □ □Two-way communication etc. Respond to Financial gathering system since integration □Introduce standard staff received average 2.1 days of Instruments and Exchange Law □trying to improve customer training →reassigned to front lines (BTMU) □Strengthen controls at major waiting time business hours □Commencing personally tailored affiliate companies □Formulated “10 promises to customers” curricula Day2 preparations: Full scale response including informing customers, branch staff training, etc 3 2. Trends in the Consumer Finance Market z The credit card market is expected to enter a major growth phase 1. Expanding business in new settlement areas and through new channels 2. Enhanced profitability through shift from consumer loans to revolving credit z Increased card payments for utilities, tax, insurance, pensions, medical expenses, etc. →Expanding opportunities for bank-type financial institutions z Low past liabilities (return of excess interest, reduced interest rates) and sound compliance are vital competitive advantages Market Growth scale potential Expanding opportunities for bank-type (Volume*) financial institutions Settlement ShoppingShopping z No liabilities for return of excess interest z Cost competitiveness (not single product sales) New settlement areas z Shift from money transfer to card payment New settlement areas z Customer information and marketing Credit cards Credit Credit cards Credit zzUtility,Utility, pension,pension, insurance,insurance, ¥32 tn medicalmedical feefee paymentspayments z Sales foundations and network New channels New channels Expand mobile phone channel zzMobileMobile phone,phone, internetinternet RevolvingRevolving creditcredit ¥3 tn Increasing along with higher use of cards CashCash Advancement/loansAdvancement/loans ¥8 tn Affected by operating environment Shrinking market. Sound compliance essential but still an ¥8 tn market including high priced house InstallmentInstallment creditcredit ¥10 tn appliances etc. Merit for remaining players depends Transactions on low past liabilities + strength in compliance and cost control CardCard loansloans ¥3 tn Competition intensifying Market shrinking. But core demand stable. Key points are ability to make profit at interest rates ConsumerConsumer loansloans ¥10 tn below the upper limit and strong compliance management. BankBank loansloans ¥4 tn Brand and cost structure provide competitive edge (Total: ¥ 68 tn) * Source: Japan Consumer Credit Industry Association, Consumer Credit Statistics 4 3-(1) Summary of announced plans ¾ Reorganization of Mitsubishi UFJ NICOS/JACCS operations ⇒ Transform earnings and cost structure of both JACCS and Mitsubishi UFJ NICOS to sharply boost competitiveness ¾ Mitsubishi UFJ NICOS - Thorough measures to shift to proactive approach ¾ Build credit card business as MUFG’s core business, alongside banking, trust banking and securities 5 3-(2) Implications for JACCS and its installment credit business Mitsubishi UFJ NICOS Advantages, benefits to JACCS Inherited by Current installment JACCS credit business 1. Large benefits from integration of installment credit business 9 Inherit business after streamlining cost structure in Mitsubishi UFJ NICOS Sales Sales ⇒Estimated ¥8 bn of integration benefits mainly from cost synergies JACCS 9 Become top installment credit company Consider effects of in both quantity and quality Locations/ integrating and streamlining; 2. Immediate strategic expansion possible: Personnel Locations/ Inherit truly vital JACCS has few instances of excess interest locations and Mitsubishi UFJ NICOS returns; had completed lowering interest Personnel personnel; Transfer of installment Dramatically boost rates credit business will allow profitability and thorough rationalization 3. Further cost reduction expected through ⇒ efficiency of installment Company-wide Credit card credit business coordination with Mitsubishi UFJ NICOS in reinforcement of cost
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