Analyst Meeting Analyst Meeting Reference Data Reference Data December 2, 2004 Mitsui Trust Financial Group This material complements the following materials, “Analyst Meeting Presentation Material” and “Financial Data Highlights for 1H. FY3/05”. Please use this material as a reference to the above two.
Ⅰ . Reference Data on Implementation • Housing Loan Market • Loan Portfolio • Investment Trust & Variable Annuity Sales: Our Strength • Real Estate Business: Reference Data Mitsui Trust Financial Group 1
Housing Loan Market Estimated # of Householders in Japan Population by Age Housing Loans by Area (Thousand people) (Number of householders, Millions) 1H FY3/05 12,000 Core aged groups of While total population start decreasing from 2006, potential home owner 10,608 number of householders is estimated to increase. 50 10,000 Others 9,431 9,492 49 17% 8,2627,7978,151 8,012 50 Chubu 8,000 7,194 9% 47 Kanto, Metrop 6,000 olitan 44 Estimate 57% Kansai 4,000 17% 2,000 40 0 9 4 9 4 9 4 9 4 1995 2000 2005 2010 ～ 1 ～ 2 ～ 2 ～ 3 ～ 3 ～ 4 ～ 4 ～ 5 Age 5 0 5 0 5 0 5 0 1 2 2 3 3 4 4 5 Source: National Institute of Population and Source: Ministry of Public Management, Home 33 branches out of 67 located in Social Security Research Affairs, Posts and Telecommunications Kanto area, where population growth rate (0.53%) *1 greatly exceeds the national population Considering the growth estimated for the number of householder and the volume growth rate (0.14%) *1 of core aged groups of potential home owner, housing loan demands seem to grow steadily for some time. *1 Source: Census Mitsui Trust Financial Group 2
Loan Portfolio Loans by Scale of Enterprise Loans by Industry 100% Real estate non-recourse loans included Ratio of To individuals 10% Composition of performinig loans risk-monitored (All loans less risk monitored loans) loans by industry 27% 28% 9/04 9/04 9/04 75% Weight(Other Weight(Chuo Major banks Risk major banks) Mitsui) Comparison To small 38% enterprises 13.2% High Construction 2.7% 1.3% (1.4)% 12.6% 11.6% 18.2% 6.7% Real estate 30% (4.5)% 10.0% Distribution 10.8% 6.3% 50% 45% 9% (4.9)% 4.7% Services 12.4% 7.6% To medium Total[ Ⅰ ] (4.1)% enterprises 37.5% 33.4% 4% 3.0% 12.4% 9.5% (2.8)% Manufacturing 25% 4% Other industries *1 2.9% 8.2% 11.1% 2.9% 39% 34% To large 1.7% 1.6% Individuals, etc. 30.3% 32.0% enterprises 20% 2.4% 1.1% Finance/Insurance 11.6% 13.9% Total[ Ⅱ ] 4.1% 62.5% 66.6% 0% (Approx. Loans by domestic banks. Partially our estimate CMTB CMTB All banks*1 10yrs) As of 3/95 9/04 9/04 *1 Aggregate of agriculture,mining,forestry,fishing,electricity,gas,transport,communication and local government *1 Source: Bank of Japan Mitsui Trust Financial Group 3
Investment Trust & Variable Annuity Sales: Our Strength -1 Our franchise value: High composition of elder, wealthy individual clients with high interest in investment trusts (”I/T”) and variable annuities (”V/A”) Composition of Our Clients by Age As of 10/04 Clients 15% of age 43% 85% Clients 57% over 50 of age over 50 In number of clients In number of all clients with AuM *1 of over ¥10 million *1 Asset under Management 17% 7% Clients Clients of age of age over 50 over 50 83% 93% In number of clients of In number of clients of “V/A” “I/T” and/or “V/A” Mitsui Trust Financial Group 4
Investment Trust & Variable Annuity Sales: Our Strength -2 Enhance cross-sell of investment trusts “I/T” and variable annuities “V/A” Cross-sell to Elder Wealthy Clients “V/A” holders (most of them also hold “I/T”) 100% → Cross-sell other “I/T” or “V/A” products 13% (Cross-sell “I/T”, if not holding “I/T”) 16% 75% “I/T” holders, not holding “V/A” 50% → Cross-sell “V/A” 71% 25% Hold neither “I/T” nor “V/A” → Introductory cross-sell of “I/T” and “V/A” 0% Clients of age over 50 with balance over ¥10mn Number of clients, as of 10/04 Mitsui Trust Financial Group 5
Real Estate Business: Reference Data Revenues of Real Estate Business by Trust Banks Second expansion: (Yen bn) 140 lead by real estate investment boom 120 (REIT and private Collapse of bubble economy funds) 100 Up to ¥70 bn size 80 Continued ¥50 bn size 60 First expansion: lead by start of REIT and 40 securitization needs for corporate 20 restructuring 0 FY 3/90 3/91 3/92 3/93 3/94 3/95 3/96 3/97 3/98 3/99 3/00 3/01 3/02 3/03 3/04 Mitsui Trust Financial Group 6
Ⅱ . Reference Data on 1H.FY3/05 Results • Gross Operating Profit, Operating Expenses, Pre-provision Profit • Recurring Profit, Interim Net Income • Assets, Procured Funds, Securities Held • 3 A/C Total: End Balance & Average Balance • Status of Reserve & Collateral • Status of General Reserve • Outlook for Full FY3/05 Mitsui Trust Financial Group 7
Gross Operating Profit, Operating Expenses, Pre-provision Profit Gross Operating Profit, Operating Expenses, Pre-provision Profit a b (Yen bn) CMTB *1 + MATB *2 1H.FY3/04 1H.FY3/05 c:b-a Combined totals CMTB MATB CMTB MATB Change 1 Gross operating profit *3 141.4 140.2 (1.1) 127.8 13.5 124.1 16.1 50.0 58.5 8.5 Trust fees before trust a/c credit costs 35.5 14.4 37.1 21.4 Loan Trusts & JODMTs *4, Before trust a/c credit costs 32.4 33.2 0.8 32.4 0.0 33.2 - 17.5 25.2 7.7 Others 3.1 14.4 3.8 21.4 45.7 50.5 4.7 Net interest income 45.7 (0.0) 50.5 0.0 40.1 40.6 0.5 Domestic 40.1 (0.0) 40.6 0.0 5.6 9.8 4.2 International 5.6 - 9.8 - 19.8 27.4 7.5 Fees and commissions 20.7 (0.8) 32.7 (5.3) 2.7 4.3 1.6 Net trading profit 2.7 - 4.3 - 23.1 (0.6) (23.7) Others 23.1 - (0.6) - 28.2 (11.2) (39.4) Net bond related profit 28.2 - (11.2) - 2 Operating expenses [Minus] 64.7 57.7 (7.0) 54.7 9.9 49.6 8.1 3(1-2) Pre-provision profit *5 76.6 82.5 5.8 73.0 3.6 74.5 7.9 *1 Chuo Mitsui Trust & Banking *2 Mitsui Asset Trust & Banking *3 Before trust a/c credit costs *4 Jointly operated designated money trusts *5 Effective net operating profit, or net operating profit before trust a/c credit costs and transfer to the general reserve Mitsui Trust Financial Group 8
Recurring Profit, Interim Net Income Pre-Provision Profit, Recurring Profit, Interim Net Income a b (Yen bn) CMTB ＋ MATB 1H.FY3/04 1H.FY3/05 c:b-a Non-consolidated CMTB MATB CMTB MATB Change 76.6 82.5 5.8 Pre-provision profit 73.0 3.6 74.5 7.9 32.4 23.1 Credit costs "1" [Minus] 32.4 - 23.1 - 30.2 14.1 (16.1) Banking account 30.2 - 14.1 - 13.0 8.9 (4.1) Trust account 13.0 - 8.9 - (10.9) Transfer to the general reserve (10.9) - 38.2 18.8 (19.4) Net stock related profit 38.2 - 18.8 - 74.0 71.8 (2.1) Recurring profit 72.1 1.8 64.2 7.5 4.6 (2.0) (6.7) Net extraordinary profit 4.7 (0.0) (2.8) 0.7 0.0 1.4 Transfer from reserves for loan losses "2" 0.0 1.4 0.0 78.6 69.7 (8.9) Income before income taxes 76.8 1.8 61.4 8.3 0.6 0.7 0.0 Current income taxes, other [Minus] 0.2 0.4 0.2 0.4 23.8 33.8 10.0 Deferred income taxes, other [Minus] 23.8 0.0 31.0 2.8 54.2 35.1 (19.0) Interim net income 52.8 1.4 30.1 5.0 32.4 32.4 (0.0) 21.7 21.7 (0.0) (10.7) Credit costs "1"-"2" Breakdown of Credit Costs Breakdown of Net Extraordinary Profit (Yen bn) (Yen bn) a b c:b-a 1H.FY3/04 1H.FY3/05 1H.FY3/04 1H.FY3/05 Chg. 16.1 3.2 30.2 Banking a/c credit costs 17.5 (12.7) Extraordinary gains 1 Banking a/c 8.0 12.4 4.3 Write-offs 8.8 - Refunds of external standards taxation on banks 0.2 1.2 1.0 Debt forgiveness Total: 14.1 5.0 0.0 Gains on disposals of premises and equipment 21.6 3.8 (17.8) Transfer to the specific reserve Banking a/c credit costs (0.0) (0.4) (0.3) 0.0 1.4 Transfer to reserve for specific overseas loan losses Transfer from reserves for loan losses 0.4 0.4 0.0 Others 2.1 0.5 Gains on collection of written-off claims 13.0 Trust a/c credit costs 8.9 (4.1) 2 Trust a/c Trust a/c credit costs 8.8 8.3 (0.5) Write-offs 11.4 5.2 Extraordinary losses 0.2 - (0.2) Debt forgiveness 4.8 0.9 Losses on disposals of premises and equipment 4.0 0.6 (3.3) Others Total: 1.4, Extra ordinary gain, transfer 5.6 3.5 Pension benefit obligation costs (10.9) Transfer to the general reserve (4.7) 6.1 3 Transfer to the general reserve from reserve for possible loan losses 32.4 21.7 (10.7) 1+2+3 Credit costs total Mitsui Trust Financial Group 9
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