Severance Indemnities and Pension Plans (Tables)
 12 Months Ended
Mar. 31, 2022
Retirement Benefits [Abstract]  
Components of Net Periodic Benefit Cost of Pension Benefits, SIPs and Other Benefits
Net periodic cost of pension benefits and other benefits for the fiscal years ended March 31, 2020, 2021 and 2022 include the following components:
 
Domestic subsidiaries
 
Foreign offices and subsidiaries
 202020212022 202020212022
 
Pension
 benefits
 and SIP
 
Pension
 benefits
 and SIP
 
Pension
 benefits
 and SIP
 
Pension
 benefits
 
Other
 benefits
 
Pension
 benefits
 
Other
 benefits
 
Pension
 benefits
 
Other
 benefits
 
(in millions)
Service cost—benefits earned during the fiscal year¥49,194 ¥46,861 ¥44,160 ¥14,406 ¥366 ¥13,947 ¥229 ¥16,853 ¥140 
Interest cost on projected benefit obligation10,969 11,091 11,995 17,370 1,159 14,295 793 11,233 494 
Expected return on plan assets(74,744)(71,078)(81,902)(31,382)(1,882)(31,161)(2,118)(33,269)(2,415)
Amortization of net actuarial loss5,641 17,019 770 8,685 1,162 11,560 208 16,573 (64)
Amortization of prior service cost(1,204)(1,205)(1,280)(2,633)(1,881)(2,614)(448)(2,802)(385)
Loss (gain) on settlements and curtailment(2,366)(4,605)(5,820)223 — 30 — 44 — 
Net periodic benefit cost (income)¥(12,510)¥(1,917)¥(32,077)¥6,669 ¥(1,076)¥6,057 ¥(1,336)¥8,632 ¥(2,230)
Summary of Assumptions Used in Computation
The following table summarizes the assumptions used in computing the present value of the projected benefit obligations and the net periodic benefit cost:
 Domestic subsidiaries Foreign offices and subsidiaries
 202020212022202020212022
 Pension benefits and SIP Pension benefits and SIP Pension benefits and SIP Pension benefits
Other
 benefits
Pension
 benefits
Other
 benefits
Pension
 benefits
Other
 benefits
(in millions)
Weighted-average assumptions used:                 
Discount rates in determining expense0.61 %0.63 %0.71 %3.80 %3.87 %2.94 %2.72 %2.19 %1.82 %
Discount rates in determining benefit obligation0.63 0.71 0.86 3.05 2.96 2.34 2.23 2.78 2.63 
Rates of increase in future compensation level for determining expense3.21 3.46 3.46 5.01 — 5.12 — 5.09 — 
Rates of increase in future compensation level for determining benefit obligation3.46 3.46 3.46 5.12 — 5.09 — 5.04 — 
Expected rates of return on plan assets2.89 2.93 2.89 6.25 7.00 6.19 7.00 5.91 7.00 
Cash balance crediting rate for determining expense2.46 2.46 2.46 3.03 — 2.39 — 1.62 — 
Cash balance crediting rate for determining benefit obligation2.46 2.46 2.46 2.39 — 1.62 — 1.94 — 
Assumed Health Care Cost Trend Rates and Effect of a One-percentage-point Change for Foreign Offices and Subsidiaries
The following tables present the assumed health care cost trend rates for foreign offices and subsidiaries, which are used to measure the expected cost of benefits for the next year:
 MUAH
Other than MUAH
 
2021(1)
2022(1)
2021(1)
2022(1)
Initial trend rate4.17 %4.13 %6.50 %6.50 %
Ultimate trend rate3.78 %3.77 %4.50 %4.50 %
Year the rate reaches the ultimate trend rate2028202920282029
Note:
(1)Fiscal years of MUFG Americas Holdings and foreign subsidiaries end on December 31. Therefore, the above tables present the rates and amounts at December 31, 2020 and 2021, respectively.
Combined Funded Status and Amounts Recognized in Consolidated Balance Sheets
The following table sets forth the combined funded status and amounts recognized in the accompanying consolidated balance sheets at March 31, 2021 and 2022:
 
Domestic subsidiaries
 
Foreign offices and subsidiaries
 2021202220212022
 
Non-contributory
 pension benefits
 and SIP
 
Non-contributory
 pension benefits
 and SIP
 
Pension
 benefits
 
Other
 benefits
 
Pension
 benefits
 
Other
 benefits
 
(in millions)
Change in benefit obligation:           
Benefit obligation at beginning of fiscal year¥1,807,905 ¥1,753,483 ¥547,013 ¥32,383 ¥580,953 ¥31,354 
Service cost46,861 44,160 13,947 229 16,853 140 
Interest cost11,091 11,995 14,295 793 11,233 494 
Plan participants’ contributions— — 30 440 — 433 
Acquisitions/ Divestitures(2,845)(242)(260)— (130)— 
Amendments(22)(1,054)(1,187)— 402 — 
Actuarial loss (gain)(21,558)(28,814)51,724 (1)1,506 (24,611)(1)(2,269)
Benefits paid(65,730)(65,853)(20,816)(2,488)(24,501)(2,580)
Lump-sum payment(22,219)(21,570)(2,825)— (3,591)— 
Translation adjustments and other— — (20,968)(1,509)63,131 3,219 
Benefit obligation at end of fiscal year1,753,483 1,692,105 580,953 31,354 619,739 30,791 
Change in plan assets:
Fair value of plan assets at beginning of fiscal year2,432,847 2,858,013 559,508 31,919 604,404 33,349 
Actual return on plan assets472,185 77,848 82,615 5,165 49,277 4,619 
Employer contributions21,151 20,487 3,896 181 4,627 (116)
Acquisitions/ Divestitures(2,440)8 — — — — 
Plan participants’ contributions— — 30 440 — 433 
Benefits paid(65,730)(65,853)(20,816)(2,488)(24,501)(2,580)
Translation adjustments and other— — (20,829)(1,868)72,057 3,823 
Fair value of plan assets at end of fiscal year2,858,013 2,890,503 604,404 33,349 705,864 39,528 
Amounts recognized in the consolidated balance sheets:
Prepaid benefit cost¥1,122,507 ¥1,216,703 ¥94,445 ¥6,754 ¥153,861 ¥12,104 
Accrued benefit cost(17,977)(18,305)(70,994)(4,759)(67,736)(3,367)
Net amount recognized¥1,104,530 ¥1,198,398 ¥23,451 ¥1,995 ¥86,125 ¥8,737 
Note:
(1)Significant gains and losses related to changes in the benefit obligation for the fiscal years ended March 31, 2021 and 2022 primarily result from changes in the discount rate.
Aggregated Accumulated Benefit Obligations
The aggregated accumulated benefit obligations of these plans at March 31, 2021 and 2022 were as follows:
 
Domestic
 subsidiaries
 
Foreign offices
 and subsidiaries
 2021202220212022
 (in millions)
Aggregated accumulated benefit obligations¥1,719,798 ¥1,663,543 ¥554,375 ¥596,153 
Summary for Plans with Accumulated Benefit Obligations in Excess of Plan Assets
The projected benefit obligations, accumulated benefit obligations and fair value of plan assets for the plans with accumulated benefit obligations in excess of plan assets at March 31, 2021 and 2022 were as follows:
 
Domestic
 subsidiaries
 
Foreign offices
 and subsidiaries
 2021202220212022
 (in millions)
Projected benefit obligations¥24,527 ¥25,327 ¥92,527 ¥87,876 
Accumulated benefit obligations24,527 25,327 68,720 67,612 
Fair value of plan assets6,738 7,223 21,532 20,139 
Amounts Recognized in Accumulated OCI
The following table presents the amounts recognized in Accumulated OCI of the MUFG Group at March 31, 2021 and 2022:
 
Domestic subsidiaries
 
Foreign offices and subsidiaries
 2021202220212022
 
Pension
 benefits
 and SIP
 
Pension
 benefits
 and SIP
 
Pension
 benefits
 
Other
 benefits
 
Pension
 benefits
 
Other
 benefits
 
(in millions)
Net actuarial loss (gain)¥1,557 ¥(18,183)¥96,807 ¥3,255 ¥47,093 ¥(1,070)
Prior service cost(3,072)(2,845)(6,167)(1,869)(3,742)(1,650)
Gross amount recognized in Accumulated OCI(1,515)(21,028)90,6401,38643,351(2,720)
Taxes(41,639)(36,389)(23,900)(489)(12,092)616
Net amount recognized in Accumulated OCI¥(43,154)¥(57,417)¥66,740 ¥897 ¥31,259 ¥(2,104)
Amounts Recognized in OCI
The following table presents OCI for the fiscal years ended March 31, 2021 and 2022:
 
Domestic subsidiaries
 
Foreign offices and subsidiaries
 2021202220212022
 
Pension
 benefits
 and SIP
 
Pension
 benefits
 and SIP
 
Pension
 benefits
 
Other
 benefits
 
Pension
 benefits
 
Other
 benefits
 
(in millions)
Net actuarial loss (gain) arising during the year¥(423,283)¥(24,790)¥319 ¥(1,541)¥(40,559)¥(4,471)
Prior service cost arising during the year(22)(1,053)(1,187)— 402 55 
Losses (gains) due to amortization:
Net actuarial loss (gain)(17,019)(770)(11,560)(208)(16,573)64 
Prior service cost1,205 1,280 2,614 448 2,802 385 
Curtailment and settlement4,605 5,820 (30)— (44)— 
Foreign currency translation adjustments— — (5,808)(173)6,683 (139)
Total changes in Accumulated OCI¥(434,514)¥(19,513)¥(15,652)¥(1,474)¥(47,289)¥(4,106)
Weighted-average Target Asset Allocation of Plan Assets for Pension Benefits and Other Benefits
The weighted-average target asset allocation of plan assets for the pension benefits and other benefits at March 31, 2022 was as follows:
 
Domestic
 subsidiaries
Foreign offices
 and subsidiaries
Asset category
Pension
 benefits
 and SIP
Pension
 benefits
Other
 benefits
Japanese equity securities35.5 %— %— %
Japanese debt securities28.4 — — 
Non-Japanese equity securities14.8 41.3 63.0 
Non-Japanese debt securities14.5 42.0 27.0 
Real estate1.5 10.2 10.0 
Short-term assets and other5.3 6.5 — 
Total100.0 %100.0 %100.0 %
Estimated Future Benefit Payments
The following table presents benefit payments expected to be paid, which include the effect of expected future service for the fiscal years indicated:
 
Domestic
 subsidiaries
 
Foreign offices
 and subsidiaries
 
Pension
 benefits
 and SIP
 
Pension
 benefits
 
Other
 benefits
 (in millions)
Fiscal year ending March 31:     
2023¥80,812 ¥26,258 ¥2,198 
202479,376 27,869 2,228 
202579,934 28,678 2,203 
202678,977 30,656 2,142 
202777,807 32,659 2,062 
Thereafter (2028-2032)380,256 197,642 8,335 
Fair Value of Each Major Category of Plan Assets
The following table presents the fair value of each major category of plan assets as of March 31, 2021 and 2022:
Pension benefits and SIP Investments:
At March 31, 2021Domestic subsidiaries Foreign offices and subsidiaries
Assets categoryLevel 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total
 (in millions)
Japanese government bonds¥145,236 ¥— ¥— ¥145,236 ¥— ¥— ¥— ¥— 
Non-Japanese government bonds— — — — 44,105 4,645 — 48,750 
Other debt securities10,136 14,065 230 24,431 — 117,696 — 117,696 
Japanese marketable equity securities862,096 — — 862,096 — — — — 
Non-Japanese marketable equity securities81,525 588 — 82,113 34,584 671 — 35,255 
Other investment funds— — — — 76,520 164,810 — 241,330 (2)
Japanese general account of life insurance companies(1)
— 217,827 — 217,827 — — — — 
Other investments8,390 5,092 — 13,482 812 13,502 333 14,647 
Total¥1,107,383 ¥237,572 ¥230 ¥1,345,185 ¥156,021 ¥301,324 ¥333 ¥457,678 
At March 31, 2022Domestic subsidiaries Foreign offices and subsidiaries
Assets categoryLevel 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total
 (in millions)
Japanese government bonds¥140,538 ¥— ¥— ¥140,538 ¥— ¥— ¥— ¥— 
Non-Japanese government bonds— — — — 68,887 5,385 — 74,272 
Other debt securities9,950 14,648 232 24,830 — 133,815 — 133,815 
Japanese marketable equity securities848,482 — — 848,482 — — — — 
Non-Japanese marketable equity securities87,983 176 — 88,159 34,659 556 — 35,215 
Other investment funds— — — — 83,442 186,372 — 269,814 (2)
Japanese general account of life insurance companies(1)
— 209,482 — 209,482 — — — — 
Other investments11,819 17,563 — 29,382 1,001 11,095 39,729 51,825 
Total¥1,098,772 ¥241,869 ¥232 ¥1,340,873 ¥187,989 ¥337,223 ¥39,729 ¥564,941 
Notes:
(1)“Japanese general accounts of life insurance companies” is a contract with life insurance companies that guarantees a return of approximately 1.25% from April 1, 2020 to March 31, 2021 and 1.25% from April 1, 2021 to March 31, 2022.
(2)Other investment funds of the foreign offices and subsidiaries include mutual funds and common collective funds of ¥80,717 million and ¥128,005 million, respectively, which were held by MUFG Americas Holdings at December 31, 2020 and ¥86,724 million and ¥146,169 million, respectively, at December 31, 2021.
Fair Values of Certain Investments Valued at Net Asset per Share (or Its Equivalent)
The following table presents fair values of certain investments valued at net asset value per share (or its equivalent) as a practical expedient that were excluded from the above table as of March 31, 2021 and 2022:
 
Domestic
 subsidiaries
 
Foreign offices and
 subsidiaries
 
Assets category2021202220212022 
 (in millions) 
Japanese pooled funds:        
Japanese marketable equity securities¥118,509 ¥104,793 ¥— ¥—  
Japanese debt securities324,700 221,250 — —  
Non-Japanese marketable equity securities90,598 219,018 — —  
Non-Japanese debt securities215,015 249,274 — —  
Other153,483 92,558 — —  
Total pooled funds902,305 886,893 — —  
Other investment funds610,523 (1)662,737 (1)146,726 (2)140,923 (2)
Total¥1,512,828 ¥1,549,630 ¥146,726 ¥140,923  
Notes:
(1)Other investment funds of the domestic subsidiaries include mutual funds and real estate funds of ¥580,617 million and ¥14,763 million, respectively, at March 31, 2021 and ¥625,237 million and ¥15,417 million, respectively, at March 31, 2022.
(2)Other investment funds of the foreign offices and subsidiaries include mutual funds, real estate funds and common collective funds of ¥58,086 million, ¥51,318 million and ¥37,161 million, respectively, at March 31, 2021 and ¥25,356 million, ¥80,349 million and ¥34,971 million, respectively, at March 31, 2022.