MUFG raises FY2026 ROE goal to ~12%

Mitsubishi UFJ Financial Group (MUFG) has raised its return on equity (ROE) target for FY2026 under its three-year Medium-term Business Plan, increasing the goal from approximately 9% to approximately 12%.

Rhea-AI Filing Summary

Mitsubishi UFJ Financial Group (MUFG) has raised its return on equity (ROE) target for FY2026 under its three-year Medium-term Business Plan, increasing the goal from approximately 9% to approximately 12%.

The company had already achieved ROE of 9% in FY2024, the first year of the plan, prompting a review of the original target. Despite what it describes as continued uncertainty in the external environment, MUFG now expects performance to exceed its initial projections and is committing to the higher profitability goal. Management states it will keep pursuing growth, social and environmental initiatives, and transformation to support sustainable growth, improved profitability, and enhanced corporate value.

Positive

• Upward revision of profitability target: MUFG increased its FY2026 ROE goal from approximately 9% to approximately 12% after already reaching 9% ROE in FY2024, indicating management confidence in higher sustainable earnings.

Negative

• None.

Insights

Banking sector equity analyst

MUFG is signaling confidence by lifting its FY2026 ROE goal to approximately 12%.

MUFG has revised its FY2026 ROE target under the current Medium-term Business Plan from approximately 9% to approximately 12%. This follows achieving ROE of 9% already in FY2024, the first year of the plan.

The change suggests management believes earnings power can exceed earlier expectations, even while acknowledging ongoing uncertainty in the external environment. Higher targeted ROE typically implies a focus on capital efficiency, margins, and disciplined balance sheet use for a large financial group.

Investors may focus on how MUFG’s subsequent financial disclosures track against the higher ROE objective through FY2026, and how growth initiatives, social and environmental efforts, and transformation programs contribute to sustaining profitability at the revised level.

Key Figures

Revised FY2026 ROE target: Approximately 12% Previous FY2026 ROE target: Approximately 9% ROE achieved: 9% +1 more

4 metrics

Revised FY2026 ROE target Approximately 12% Medium-term Business Plan profitability goal for FY2026

Previous FY2026 ROE target Approximately 9% Original Medium-term Business Plan goal for FY2026

ROE achieved 9% Actual ROE in FY2024, first year of the plan

Plan period Three years beginning FY2024 Duration of current Medium-term Business Plan

Key Terms

Medium-term Business Plan, ROE, forward-looking statements, Profits attributable to owners of parent

4 terms

Medium-term Business Plan financial

"MUFG positions the current MTBP period as “three years to pursue and produce growth”"

ROE financial

"In FY2024, the first year of the MTBP, MUFG achieved an ROE of 9%"

Return on equity (ROE) measures how much profit a company generates from the money shareholders have invested, like checking how effectively a chef turns ingredients into meals. Investors use it to compare how well companies turn investor funds into earnings—higher ROE usually means management is using capital more efficiently, while a low ROE can signal weaker profitability or poor use of equity.

forward-looking statements regulatory

"This notice contains forward-looking statements regarding estimates, forecasts, etc."

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

Profits attributable to owners of parent financial

"Profits attributable to owners of parent for respective { (Total shareholders’ equity..."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What change did MUFG (MUFG) make to its FY2026 financial target?

MUFG raised its FY2026 return on equity (ROE) target from approximately 9% to approximately 12%. This revision reflects management’s view that performance under its current Medium-term Business Plan is tracking ahead of earlier expectations.

Why did MUFG (MUFG) increase its ROE target under the Medium-term Business Plan?

MUFG increased the ROE target because it already achieved 9% ROE in FY2024, the first year of the plan. The company now expects performance to exceed initial projections despite ongoing external uncertainties, supporting a higher profitability goal for FY2026.

What ROE did MUFG (MUFG) achieve in FY2024?

MUFG achieved a return on equity of 9% in FY2024. This early achievement matched the previous FY2026 target and led management to review and ultimately raise the Medium-term Business Plan’s ROE objective to approximately 12%.

What period does MUFG’s current Medium-term Business Plan cover?

MUFG’s current Medium-term Business Plan covers a three-year period beginning in FY2024. The company describes these years as a phase to pursue and produce growth, while advancing social and environmental initiatives and accelerating transformation and innovation.

How does MUFG (MUFG) define ROE in this target?

MUFG defines ROE as profits attributable to owners of parent for the respective period divided by the average of total shareholders’ equity plus foreign currency translation adjustments at the beginning and end of the period, using its own internal definition.

What strategic focus accompanies MUFG’s revised ROE target?

Alongside the higher ROE target, MUFG emphasizes expanding growth strategies, promoting social and environmental progress, and accelerating transformation and innovation. The group aims to enhance corporate value through sustainable growth and improved profitability over the Medium-term Business Plan period.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/15/2026 - 06:07 AM EDT Learn about SEC filing dates

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of May 2026

Commission File No. 000-54189

MITSUBISHI UFJ FINANCIAL GROUP, INC.

(Translation of registrant’s name into English)

4-5, Marunouchi 1-chome, Chiyoda-ku

Tokyo 100-8330, Japan

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒   Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

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: May 15, 2026

Mitsubishi UFJ Financial Group, Inc.
By:		/s/ Yoshitaka Sekine
Name:		Yoshitaka Sekine
Title:		Managing Director, Head of Documentation & Corporate Secretary Department, Corporate Administration Division

Mitsubishi UFJ Financial Group, Inc. (MUFG)

MUFG Revises Medium-term Business Plan Financial Target

Tokyo, May 15, 2026 —- MUFG today announced that it has revised a financial target under its Medium-term Business Plan (“MTBP”) for the three-year period beginning in FY2024, to take into account recent business performance trends.

1. Revision of Financial Target

(1) Financial target under the Medium-term Business Plan

		ROE for FY2026*1
Previous target			Approximately 9	%
Revised target			Approximately 12	%

(2) Background to the Revision

MUFG positions the current MTBP period as “three years to pursue and produce growth” and has been expanding and refining its growth strategies, strengthening efforts to drive social and environmental progress, and accelerating transformation and innovation.

In FY2024, the first year of the MTBP, MUFG achieved an ROE of 9%, achieving the target for FY2026 early. Accordingly, MUFG began reviewing this financial target in early FY2025. However, in light of increasing uncertainty in the external environment, MUFG decided at the time to carefully reassess the situation and to make and disclose any revision at the appropriate time.

While uncertainties persist in the business environment, performance is expected to exceed initial projections. Therefore, MUFG has decided to upwardly revise its ROE target. MUFG will continue its efforts to achieve its MTBP targets and enhance corporate value through sustainable growth and improved profitability.

*1 The previous target was based on ROE as defined by MUFG, whereas the revised target is based on ROE as defined by the Tokyo Stock Exchange.

ROE (MUFG definition):

Profits attributable to owners of parent for respective FY

{(Total shareholders’ equity at the beginning of the period + Foreign currency translation adjustments at the beginning of the period) + (Total shareholders’ equity at the end of the period + Foreign currency translation adjustments at the end of the period)} ÷ 2

- End -

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About MUFG

Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,000 locations in more than 40 countries. The Group has about 150,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges. For more information, visit https://www.mufg.jp/english.

This notice contains forward-looking statements regarding estimates, forecasts, etc. in relation to the results of operations, financial conditions and other general management of MUFG and/or the group as a whole (the “forward-looking statements”). The forward-looking statements are made based upon, among other things, MUFG’s current estimates, perceptions and evaluations. In addition, in order for MUFG to adopt such estimates, forecasts, etc. regarding future events, certain assumptions have been made. Accordingly, the statements and assumptions are inherently not guarantees of future performance and may result in inaccuracy from an objective point of view and in material differences from actual results. There exist a number of factors that might lead to uncertainties and risks. For the main matters that may be currently forecast, please see the most recent Financial Highlights, the Annual Securities Report, Disclosure Book, Annual Report, and other disclosures that MUFG has announced.

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