Foreign operations include the business conducted by overseas offices, as well as international business conducted from domestic offices, principally several international banking-related divisions of MUFG Bank’s and Mitsubishi UFJ Trust and Banking’s head office in Tokyo, and involve various transactions with debtors and customers residing outside Japan. Close integration of the MUFG Group’s foreign and domestic activities makes precise estimates of the amounts of assets, liabilities, income and expenses attributable to foreign operations difficult and necessarily subjective. Assets, income and expenses attributable to foreign operations are allocated to geographical areas based on the domicile of the debtors and customers.

proportionate share of general and administrative expenses to income derived from foreign loans and other transactions by the MUFG Group’s foreign operations. The following table sets forth estimated total assets at March 31, 2023, 2024 and 2025, and estimated total revenue, total expense, income (loss) before income tax expense (benefit) and net income (loss) attributable to Mitsubishi UFJ Financial Group for the respective fiscal years then ended:


	Domestic		Foreign								Total
	Japan		United States of America		Europe		Asia/ Oceania excluding Japan		Other areas(1)
	(in millions)
Fiscal year ended March 31, 2023 (As Adjusted):
Total revenue(2)	¥	2,617,960	¥	1,317,875	¥	172,628	¥	1,524,901	¥	507,877	¥	6,141,241
Total expense(3)	2,074,357		1,622,004		370,428		1,313,871		299,269		5,679,929
Income (loss) before income tax expense (benefit)	543,603		(304,129)		(197,800)		211,030		208,608		461,312
Net income (loss) attributable to Mitsubishi UFJ Financial Group	613,612		(123,445)		(244,179)		22,590		113,220		381,798
Total assets at end of fiscal year	249,515,736		59,633,631		24,673,666		34,981,007		13,373,836		382,177,876
Fiscal year ended March 31, 2024 (As Adjusted):
Total revenue(2)	¥	3,824,225	¥	2,578,487	¥	598,995	¥	2,079,886	¥	951,111	¥	10,032,704
Total expense(3)	2,695,960		2,210,134		692,351		1,849,365		706,668		8,154,478
Income (loss) before income tax expense (benefit)	1,128,265		368,353		(93,356)		230,521		244,443		1,878,226
Net income (loss) attributable to Mitsubishi UFJ Financial Group	930,001		456,755		(239,793)		(77,661)		256,567		1,325,869
Total assets at end of fiscal year	257,518,304		61,312,679		23,578,110		39,486,295		15,925,182		397,820,570
Fiscal year ended March 31, 2025:
Total revenue(2)	¥	2,905,946	¥	3,179,967	¥	1,321,415	¥	2,173,457	¥	1,255,324	¥	10,836,109
Total expense(3)	3,015,746		2,141,975		1,014,249		2,038,743		829,820		9,040,533
Income (loss) before income tax expense (benefit)	(109,800)		1,037,992		307,166		134,714		425,504		1,795,576
Net income (loss) attributable to Mitsubishi UFJ Financial Group	(343,745)		903,188		219,445		115,817		372,228		1,266,933
Total assets at end of fiscal year	261,732,514		66,393,043		23,652,847		38,556,319		15,605,488		405,940,211


	2024 (As Adjusted)		2025
	(in millions)
Cash and due from banks	¥	702,754	¥	786,831
Interest-earning deposits in other banks	12,772,324		12,055,034
Total	¥	13,475,078	¥	12,841,865
Trading account assets	¥	32,474,396	¥	36,473,239
Investment securities	¥	12,896,242	¥	12,773,480
Loans—net of unearned income, unamortized premiums and deferred loan fees	¥	57,430,845	¥	56,713,215
Deposits	¥	63,833,368	¥	65,410,708
Funds borrowed:
Call money, funds purchased	¥	3,061	¥	155,975
Payables under repurchase agreements	13,510,745		16,039,173
Payables under securities lending transactions	90,068		32,194
Other short-term borrowings	6,385,135		6,941,877
Long-term debt	1,756,948		1,864,473
Total	¥	21,745,957	¥	25,033,692
Trading account liabilities	¥	8,590,562	¥	8,026,912