2016 824 (ESG) matsushima-noriyuki@sc.mufg.jp Please refer to important disclosures and certifications located in Appendix A of this report.
UFJ 1
IRIR UFJ 2
IR UFJ 3
1. 2. 3. CEOCFO) 1. < 2. FM 3. 4. 5. 6. MiFIDMarkets in Financial Instruments Directive in-depth UFJ 4
1 2016129 2 15 15 15 M&A 5
2 2016129 6
AI 7
KPI Key Performance Indications UFJ 8
UFJ 9
1. 2. UFJ 10
3. 1KPIDNA IIRC6 CapitalDNA KPI UFJ 11
27Content Element 7Content Element 510 ESG UFJ 12
3 KPIKey Performance Indicator KPI materiality UFJ 13
4. UFJ 14
1. 2. 3. HVEV UFJ 15
-1 HV 1990 2000 2010 2020 2030 2040 UFJ 16
-2 UFJ 17
700JEFF ESG 18
GPIFESG IR Corporate action Research Review Committee 19
Data Vintage90 B/S, P/L, C/F) Valuation ClinicScenario AnalyzerGlobal Peer Comparison UnderweightOverweight Big Picture Big Data MERIT 20
Valuation clinic7203 10 10EPS, BPS σ σ 10PERCAPE +/- 2σ ROE/PBR 2 stage analysis 0.7 DupontROE 21
Scenario analyzer DCFCFROI 22
AlphaSystematic Approach α 23
JEFF Japan Explorer JEFF 700 Under coverage = α =research MSCI 485 500 Passive 8 Active Deep research Top300 20151215 24
Appendix A 1.2015730Royal Dutch Shell plcshell International Limited33Shell Shell 2.UFJMUMSSJX MUMSS 3.UFJMUMSS2016317 MUMSS 4.MUMSS MUMSS 5.UFJMUMSS2016512 MUMSS UFJMUMSS1%* *1 (Offering Memorandum) MUMSS12 MUMSS12 MUMSS3 25
Overweight (OW) Neutral (N) Underweight (UW) NR RS Buy Hold Sell NR RS 12 UFJ2016630 * Buy (Overweight, Buy) 36.2% 32.8% Hold (Neutral, Hold) 52.6% 28.1% Sell (Underweight, Sell) 7.7% 18.9% 3.5% 23.5% BuyOverweight()Buy()HoldNeutral()Hold()SellUnderweight( )Sell() *12 MUMSSMUMSS MUMSS MUMSS MUMSSMUMSS 26
MUMSS1786 WEB https://mu-st2-pt.ifis.co.jp/disclosure/disclosure.php MUMSSMUMSS MUMSS MUMSSUFJ(MUFG)MUMSSMUFG MUMSS MUMSS MUMSSMUMSS MUMSS MUMSSMUFG MUMSS 135MUFG : MUFGMitsubishi UFJ Securities International plc. (MUSI+44-207-628-5555) MUSIPrudential Regulation AuthorityPRAFinancial Conduct AuthorityFCAPRA (FS Registration Number 124512)professional clienteligible counterpartyfcaretail clients MUSIprofessional investors MUSI 27
: MUFGMitsubishi UFJ Securities (USA), Inc. (MUS-USA+1-212-405-7000) MUS- USAUnited States Securities and Exchange Commissionbroker-dealerFinancial Industry Regulatory Authority FINRASEC# 8-43026; CRD# 19685MUS-USA1934 15a6major U.S. institutional investorsmus-usa FLOESMUS-USA IRS Circular 230 Disclosure 230 MUS-USAMUS-USA :MUFGMUMSS03-6627-5340 : MUFGMitsubishi UFJ Securities (Singapore), Limited (MUS-SPR+65-6232-7784) MUS-SPRmerchant bankmonetary Authority of Singapore Financial Advisers RegulationRegulation 2 institutional investors accredited investors expert investors accredited investors expert investors MUS-SPRFinancial Advisers Act 2527 36 MUS-SPR : MUFGMitsubishi UFJ Securities (HK) Limited MUS-HK+852-2860-1500 MUS-HKHong Kong Securities and Futures Ordinance Securities and Futures CommissionCentral Entity Number AAA889 Securities and Futures Ordinanceprofessional investor : MUS-HKMUS-SPRMUS-HKAustralian Securities and Investment Commission (ASIC) Class Order Exemption CO 03/1103Corporations Act 2001MUS-SPRASIC Class Order Exemption CO 03/1102 Corporations Act 2001wholesale client MUSIMUS-USAMUSIMUS-USAinternational dealer exemption MUSINational Instrument 31-103permitted client PRCPRC PRC Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. All Rights Reserved 2016. 1.404193,0002,700 MUMSSMUMSS 100-8127 192 UFJ Tel.03-6627-5340 Fax.03-6627-5344 UFJ 2336 28
UFJ 29