業務及び財産の状況に関する説明書 JP モルガン・チェース銀行 東 京 支 店

業務及び財産の状況に関する説明書
平成 27 年 9 月期
JP モルガン・チェース銀行
東 京 支 店
この説明書は、銀行法第21条および銀行法施行規則第19条の2（業務および財産
の状況に関する説明書類の縦覧等）に基づき、当行在日支店ならびに当行持分会
社の業務および財産の状況に関し作成したものです。
目
次
頁
1. 外国銀行在日支店に係る事項
１） JP モルガン・チェース銀行東京支店の概況
イ． 代表者
ロ． 大株主
ハ． 営業所の名称及び所在地
1
1
1
1
２） 直近の中間事業年度における事業の概況
（1）東京支店の事業内容について
（2）平成 27 年 9 月期の営業の概況
1
1
1
３） 直近の 2 中間事業年度における貸借対照表及び損益計算書
４） 財務諸表の正確性、及び内部監査の有効性に関する確認について
2～6
7
2. 外国銀行持分会社に係る事項
）
１） 事業の概況（2015 年第 1～2 四半期 ニュースリリース原文（英語）
２） 事業の概況 要約部分（日本語訳）
３） 中間連結貸借対照表及び中間連結損益計算書
（2015 年 1 月 1 日～2015 年 6 月 30 日 原文（英語）・日本語訳）
8～20
21～24
25～28
１）JP モルガン・チェース銀行東京支店の概況
イ．代表者
李 家 輝：
日本における代表者(兼)東京支店長
ロ．大株主
１
氏名又は名称
保有株式数
ジェー・ピー・モルガン・チ
ェース・アンド・カンパニー
148,761 千株
発行株式総数に対する
保有株の割合（％）
100％
以上
ハ．営業所の名称及び所在地
JP モルガン・チェース銀行 東京支店
東京都千代田区丸の内２丁目７番３号 東京ビルディング
２） 直近の中間事業年度における事業の概況
（１） 東京支店の事業内容について
JP モルガン・チェース・グループにおけるコーポレート・アンド・インベストメント・バンク部門
のホールセール事業の日本における拠点として、日本の事業会社及び金融機関に対し、グループの持
つグローバル機能を生かし、主としてクレジット、外国為替、デリバティブ、財務サービス等を提供
しています。
（２） 平成 27 年 9 月期の営業の概況
平成27年9月期の経常利益は前中間期と比較し、7.3億円減少し10.8億円の経常利益となった。その
うち、資金の運用・調達に関する利益は3.6億円増加の10.6億円、役務取引等利益は1.3億円減少の5.7
億円、特定取引利益は428.4億円減少の152.1億円となった。主に為替売買損の減少により、その他業
務利益は416.6億円増加し105.4億円の損失となった。営業経費は物件費（関係会社からの配賦費）が
6.2億円の増加、人件費が1.5億円減少し、68.2億円となった。
以上により法人税等調整前中間純利益及び当中間純利益は 7.3 億円減少し 10.8 億円となった。
-1-
３） 直近の 2 中間事業年度における貸借対照表及び損益計算書
中間貸借対照表
（単位：百万円）
科目
現金預け金
平成27年9月30日
830,203
平成26年9月30日
271,704
542,204
1,011,000
コールローン
債券貸借取引支払保証金
36,575
881,379
買入金銭債権
13
18
特定取引資産
499,860
497,345
有価証券
58,873
81,694
貸出金
19,015
23,143
外国為替
54,468
13,397
823,853
1,053,293
金融派生商品
705,752
944,367
その他の資産
118,101
108,926
その他資産
無形固定資産
77
117
支払承諾見返
1,799
31,941
貸倒引当金
△
本支店勘定
59
△
53
8,085
37,574
資産の部合計
預金
2,874,971
3,902,559
282,961
316,257
コールマネー
-
60,519
債券貸借取引受入担保金
-
68,759
524,710
437,011
38,499
28,410
1,200,354
1,327,916
18
22
金融派生商品
947,319
1,079,950
金融商品等受入担保金
237,378
233,892
15,637
14,051
1,554
1,327
303
429
特定取引負債
外国為替
その他負債
未払法人税等
その他の負債
賞与引当金
退職給付引当金
繰延税金負債
564
565
1,799
31,941
821,487
1,626,734
2,872,234
3,899,873
2,000
2,000
支払承諾
本支店勘定
負債の部合計
持込資本金
中間繰越利益剰余金
△
その他有価証券評価差額金
負債及び純資産の部合計
-2-
282
△
336
1,019
1,021
2,874,971
3,902,559
中間損益計算書
科目
経常収益
資金運用収益
（うち貸出金利息）
（うち有価証券利息配当金）
役務取引等収益
特定取引収益
その他業務収益
その他経常収益
経常費用
資金調達費用
（うち預金利息）
役務取引等費用
特定取引費用
その他業務費用
営業経費
経常利益（又は経常損失）
税引前中間純利益（又は税引前中間純損失）
法人税、住民税及び事業税
法人税等合計
中間純利益（又は中間純損失）
繰越利益剰余金（当期首残高）
本店への送金
(又は本店からの補填金）
中間繰越利益剰余金
平成 27 年 4 月　1 日から
平成 27 年 9 月 30 日まで
21,437
1,479
(
213 )
(
218 )
949
15,209
2,195
1,603
20,352
423
(
90 )
380
12,733
6,815
1,084
1,084
1
1
1,082
△ 1,701
335
△ 282
-3-
（単位：百万円）
平成 26 年 4 月　1 日から
平成 26 年 9 月 30 日まで
63,682
1,335
(
180 )
(
360 )
1,113
58,274
2,034
923
61,863
645
(
135 )
524
219
54,120
6,354
1,818
1,818
1
1
1,816
△ 6,779
4,626
△ 336
(注記事項)
記載金額は百万円未満を切り捨てて表示しております。
重要な会計方針
1． 特定取引資産・負債の評価基準及び収益・費用の計上基準
金利、通貨の価格、金融商品市場における相場その他の指標に係る短期的な変動、市場間の格差等
を利用して利益を得る等の目的（以下「特定取引目的」という。）の取引については、取引の約定時点
を基準とし、中間貸借対照表上「特定取引資産」及び「特定取引負債」に計上するとともに、当該取
引からの損益を中間損益計算書上「特定取引収益」及び「特定取引費用」に計上しております。
特定取引資産及び特定取引負債の評価は、スワップ・先物・オプション取引等の派生商品について
は中間決算日において決済したものとみなした額により行っております。
また、特定取引収益及び特定取引費用の損益計上は、当中間期中の受払利息等に、派生商品につい
ては前期末と当中間期末におけるみなし決済からの損益相当額の増減額を加えております。
2． 有価証券の評価基準及び評価方法
有価証券の評価は、原則として中間決算日の市場価格等に基づく時価法（売却原価は主として移動
平均法により算定）により行っております。なお、その他有価証券の評価差額については、全部純資
産直入法により処理しております。
3． デリバティブ取引の評価基準及び評価方法
デリバティブ取引（特定取引目的の取引を除く）の評価は、時価法により行っております。なお、
金融商品会計に関する実務指針に定める用件を満たすデリバティブ取引の時価評価による金融資産と
金融負債については相殺表示を行っております。
4． 固定資産の減価償却の方法
無形固定資産は定額法により償却しております。なお、自社利用のソフトウェアについては、行内
における利用可能期間（5 年）に基づいて償却しております。
5． 引当金の計上基準
（1）貸倒引当金
貸倒引当金は、予め定めている償却・引当基準に則り、次のとおり計上しております。
「銀行等金融機関の資産の自己査定並びに貸倒償却及び貸倒引当金の監査に関する実務指針」（日本
公認会計士協会銀行等監査特別委員会報告第４号 平成 24 年 7 月 4 日）に規定する正常先債権及び
要注意先債権に相当する債権については、一定の種類毎に分類し、過去の一定期間における各々の貸
倒実績から算出した貸倒実績率等に基づき計上しております。
すべての債権は、資産の自己査定基準に基づき、審査部が資産査定を実施しております。
（2）賞与引当金
賞与引当金は、従業員への賞与の支給に備えるため、及び親会社の運営する株式報酬制度にかかる将
来の費用負担に備えるため、当中間期に帰属する金額を計上しております。
（3）退職給付引当金
退職給付引当金は、従業員の退職給付に備えるため、事業年度末における退職給付債務及び年金資
産の見込額に基づき、当中間期末において発生していると認められる必要額を計上しております。ま
た、退職給付債務の算定にあたり、退職給付見込み額を当中間期末までの期間に帰属させる方法につ
いては期間定額基準によっております。なお、過去勤務債務及び数理計算上の差異の費用処理方法は
次のとおりであります。
過去勤務債務
その発生年度の従業員の平均残存勤務期間内の一定の年数（10 年）による定額
法により費用処理
数理計算上の差異 各発生年度の従業員の平均残存勤務期間内の一定の年数（10 年）による定額法
により按分した額を、それぞれ発生の翌期から費用処理
6． 外貨建の資産及び負債の本邦通貨への換算基準
外貨建資産・負債及び海外本支店勘定は、中間決算日の為替相場による円換算額を付しております。
-4-
7． 消費税等の会計処理
消費税及び地方消費税の会計処理は、税抜方式によっております。
追加情報
1.
当中間期において、金融商品会計に関する実務指針に定める要件を満たすデリバティブ取引の時価
評価による金融資産と金融負債については相殺表示を行っております。これにより、従前の方法と比
べて、その他資産及びその他負債に計上されている金融派生商品がそれぞれ 179,773 百万円減少して
おります。
注記事項
（中間貸借対照表関係）
現金担保付債券貸借取引により受け入れている有価証券のうち、売却又は（再）担保という方法で
1．
自由に処分できる権利を有する有価証券で、
（再）担保に差し入れている有価証券は平成 27 年及び平
成 26 年度中間期末においてそれぞれ 10,442 百万円及び 112,324 百万円、各中間期末に当該処分をせ
ずに所有しているものは 25,915 百万円及び 1,050,497 百万円であります。平成 26 年度中間期末にお
いて再貸付けに供している有価証券は 81,263 百万円であります。
2．
平成 27 年及び平成 26 年度中間期末において、貸出金のうち、貸出条件緩和債権、破綻先債権、延
滞債権、及び３ヵ月以上延滞債権の該当はありません。
なお、貸出条件緩和債権とは、債務者の経営再建又は支援を図ることを目的として、金利の減免、
利息の支払猶予、元本の返済猶予、債権放棄その他の債務者に有利となる取決めを行った貸出金で破
綻先債権、延滞債権及び３カ月以上延滞債権に該当しないものであります。
破綻先債権とは、元本又は利息の支払の遅延が相当期間継続していることその他の事由により元
本又は利息の取立て又は弁済の見込みがないものとして未収利息を計上しなかった貸出金（貸倒償
却を行った部分を除く。以下「未収利息不計上貸出金」という。）のうち、法人税法施行令（昭和40
年政令第97号）第96条第１項第３号のイからホまでに掲げる事由又は同項第４号に規定する事由が
生じている貸出金であります。
延滞債権とは、未収利息不計上貸出金であって、破綻先債権及び債務者の経営再建又は支援を図る
ことを目的として利息の支払いを猶予した貸出金以外の貸出金であります。
また、３カ月以上延滞債権とは、元本又は利息の支払が、約定支払日の翌日から３月以上遅延し
ている貸出金で破綻先債権及び延滞債権に該当しないものであります。
3．
ローン・パーティシペーションで、
「ローン・パーティシペーションの会計処理及び表示」
（日本公
認会計士協会会計制度委員会報告第 3 号 平成 26 年 11 月 28 日）に基づいて、参加者に売却したも
のとして会計処理した貸出金の元本の平成 27 年及び平成 26 年度中間期末における残高の総額は、そ
れぞれ 13,351 百万円及び 18,563 百万円であります。
4．
担保に供している資産は次のとおりであります。
その他資産には、平成27年及び平成26年度中間期末においてそれぞれ保証金35百万円及び62百万円
が含まれております。
5．
当座貸越契約及び貸付金に係るコミットメントライン契約は、顧客からの融資実行の申し出を受け
た場合に、契約上規定された条件について違反がない限り、一定の限度額まで資金を貸付けることを
約する契約であります。これらの契約に係る融資未実行残高は、平成 27 年及び平成 26 年度中間期末
においてそれぞれ 200,662 百万円及び 214,682 百万円であります。 このうち契約残存期間 1 年以内
のものがそれぞれ 129,582 百万円及び 168,057 百万円あります。
6．
平成 27 年及び平成 26 年度中間期末において、支店の代表者との間の取引による支店の代表者に対
する金銭債権又は金銭債務として該当するものはありません。
-5-
（中間損益計算書注記）
1. 記載金額は百万円未満を切り捨てて表示しております。
2. 本店経費負担額および内訳は次のとおりです。
本店経費負担額
直接経費（派遣職員給与等）
間接経費割当額
平成 27 年 4 月　1 日から
平成 27 年 9 月 30 日まで
1,494
35
1,458
-6-
(単位 : 百万円）
平成 26 年 4 月　1 日から
平成 26 年 9 月 30 日まで
1,565
61
1,504
財務諸表の正確性、及び内部監査の有効性に関する確認について
平成 28 年
JP モルガン・チェース銀行
3月
2日
東京支店
日本における代表者（兼）東京支店長
李 家
輝
１. 私は、当支店の平成 27 年 4 月 1 日から平成 27 年 9 月 30 日までの第 44 期中間事業年度の『業
務及び財産の状況に関する説明書』に記載した事項が、
「企業内容等の開示に関する内閣府令」、
「財務諸表等の用語、様式及び作成方法に関する規則」ならびに銀行法及び同施行規則に準拠
して、すべての重要な点において適正に表示されていることを確認いたしました。
２. 当該確認を行うに当たり、財務諸表等が適正に作成されるための以下の内部統制体制が整備
され、有効に機能していることを確認いたしました。
① 財務諸表等の作成にあたって、その責任部署と業務分掌が明確化されており、各責任部署
において適切な業務・管理態勢が構築されていること。
② 内部監査部門が当該責任部署における業務プロセスの適切性・有効性を検証し、当支店
経営委員会へ報告を行う体制にあること。
③ 重要な経営情報が当支店経営委員会へ適切に付議・報告されていること。
以上
-7-
文中にある頁等の参照先につきましては、こちらにある原文リリースをご覧ください。
JPMorgan Chase & Co.
270 Park Avenue, New York, NY 10017-2070
NYSE symbol: JPM
www.jpmorganchase.com
News release: IMMEDIATE RELEASE
JPMORGAN CHASE REPORTS FIRST-QUARTER 2015 NET INCOME OF
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ROTCE1
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CCB
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Period-end loan balances up 11% YoY, and 3% QoQ;
with 4% QoQ growth in C&I6 loans and 3% QoQ
growth in CRE7 loans
Commercial Banking generated healthy loan growth in both C&I6 and
CRE7 and also delivered an impressive increase in gross investment
banking revenue with Commercial Banking clients.
OH of 59%
CB
ROE of 17%
OH of 41%
AM
ROE of 22%
OH of 72%
Net payout LTM3,12
53%
Record gross investment banking revenue with
Commercial Banking clients, up 68%
Asset Management had $16 billion of net long-term inflows, generated
strong investment performance and continued to grow loan and deposit
balances.”
Twenty-fourth consecutive quarter of positive net
long-term flows to assets under management
Record assets under management, up 7%
Average loan balances up 8%
CAPITAL RETURN
SIGNIFICANT ITEMS
First-quarter results included as a significant item $487 million (aftertax)8
legal expense ($0.13 per share aftertax decrease in earnings)8
Approximately $3.1 billion returned to shareholders12 in the first quarter
The Board intends to increase the quarterly common stock dividend in the
second quarter of 2015 from the current $0.40 per share to $0.44 per share
FORTRESS PRINCIPLES
Tangible book value per share1,16 of $45.45, up 9% YoY
Basel III common equity Tier 11,2 of $167 billion, or ratio of 10.6%
9
SUPPORTED CONSUMERS, BUSINESSES & COMMUNITIES
$492 billion of credit and capital13 raised in the first quarter
$54 billion of credit for consumers
$5 billion of credit for U.S. small businesses
$158 billion of credit for corporations
$260 billion of capital raised for clients
$16 billion of credit and capital raised for nonprofit and government
entities, including states, municipalities, hospitals and universities
10
Compliant with U.S. LCR – HQLA of $614 billion
Firm SLR1 of 5.7% and Bank SLR1 of 6.0%
Core loans11 up 10% compared with the prior year
OPERATING LEVERAGE
Adjusted expense1 of $14.2 billion and adjusted overhead ratio1 of 57%
Hired nearly 8,700 U.S. veterans and service members since 2011
Jamie Dimon concluded: “JPMorgan Chase continues to support consumers, businesses and communities and make a significant positive impact. We
have an outstanding franchise which is getting safer and stronger, and is gaining market share over time. We continue to build the company for the
long-term, we are investing in controls, infrastructure, systems, technology, new products and bankers. We will continue to navigate challenges and
deliver for our clients, shareholders and communities.”
Investor Contact: Sarah Youngwood (212) 270-7325
Media Contact: Joe Evangelisti (212) 270-7438
1
For notes on non-GAAP financial measures, including managed basis reporting, see page 6.
For additional notes see page 7.
-8-
JPMorgan Chase & Co.
News Release
In the discussion below of JPMorgan Chase as a Firm and of its business segments, information is presented on a managed
basis. For more information about managed basis, as well as other non-GAAP financial measures used by management to
evaluate the performance of each line of business, see page 6.
JPMORGAN CHASE (JPM)1,16
Results for JPM
($ millions, except per share data)
Net revenue
4Q14
1Q15
4Q14
1Q14
$ 24,820
$ 23,549
$ 23,853
14,883
15,409
14,636
959
840
850
Noninterest expense
Provision for credit losses
Net income
Earnings per share
Return on tangible common equity
$
5,914
$
4,931
1.45
1.19
14%
11%
$
5,269
1.28
$ O/(U)
$
$
1,271
1Q14
O/(U) %
$ O/(U)
5% $
O/(U) %
967
4%
(526)
(3)
247
2
119
14
109
13
983
20
645
12
0.26
22
0.17
13
$
13%
1
Presented on a managed basis. See notes on page 6 for further explanation of managed basis. Net revenue on a U.S. GAAP basis totaled $24.1 billion, $22.8
billion, and $23.2 billion for the first quarter of 2015, fourth quarter of 2014, and first quarter of 2014, respectively.
Discussion of Results:
Net income was $5.9 billion, up $645 million, or 12%, from the prior year predominantly driven by higher revenue.
Net revenue was $24.8 billion, up $967 million compared with the prior year, predominantly driven by strong performance in the
Corporate & Investment Bank, both in Markets and Investment Banking. In addition, there was an increase in fee revenue in Asset
Management and Mortgage Banking, partially offset by lower gains in Private Equity. Net interest income was $11.0 billion,
relatively flat compared with the prior year.
Noninterest expense was $14.9 billion, up $247 million compared with the prior year, driven by higher Firmwide legal expense.
On an adjusted expense1 basis, expense was $14.2 billion down $402 million compared with the prior year, driven by business
simplification in the Corporate & Investment Bank and lower noninterest expense in Consumer & Community Banking.
The current quarter also benefited from $177 million in tax adjustments, compared to a tax charge of approximately $90 million
in the prior year.
The provision for credit losses was $959 million, $109 million higher than the prior year, despite $217 million of lower net chargeoffs, reflecting lower reserve releases of $93 million versus $419 million in the prior year.
CONSUMER & COMMUNITY BANKING (CCB)
Results for CCB
($ millions)
Net revenue
Noninterest expense
Provision for credit losses
Net income
1Q15
$ 10,704
6,190
930
$ 2,219
4Q14
$ 10,949
6,411
950
$ 2,179
1Q14
$ 10,534
6,437
816
$ 1,981
4Q14
1Q14
$ O/(U) O/(U) %
$ O/(U) O/(U) %
(245)
$
(2)% $
170
2%
(221)
(247)
(4)
(3)
(20)
(2)
114
14
$
40
2% $
238
12%
Discussion of Results:
Net income was $2.2 billion, an increase of $238 million compared with the prior year, driven by both improved net revenue and
lower noninterest expense.
Net revenue was $10.7 billion, an increase of $170 million compared with the prior year, driven by higher noninterest revenue
across businesses, up $302 million. Net interest income was $7.0 billion, down $132 million, driven by spread compression, largely
offset by higher deposit balances in Consumer & Business Banking and higher credit card loans.
Noninterest expense was $6.2 billion, a decrease of $247 million from the prior year, driven by lower Mortgage Banking and
Consumer & Business Banking expense.
-9-
JPMorgan Chase & Co.
News Release
The provision for credit losses was $930 million, approximately $100 million higher than the prior year, despite lower net chargeoffs, reflecting lower reserve releases.
Consumer & Business Banking net income was $828 million, an increase of $77 million compared with the prior year, driven
by lower noninterest expense.
Net revenue was $4.4 billion, relatively flat compared with the prior year, reflecting lower net interest income, down $117 million,
due to deposit spread compression; this was offset by higher noninterest revenue, up $77 million, driven by higher investment
revenue and debit card revenue.
Noninterest expense was $3.0 billion, a decrease of $107 million from the prior year, primarily driven by branch efficiencies.
Mortgage Banking net income was $326 million, an increase of $194 million from the prior year.
Net revenue was $1.7 billion, an increase of $151 million compared with the prior year, driven by lower MSR risk management
losses, partially offset by lower servicing revenue.
MSR risk management was a loss of $68 million, compared with a loss of $400 million in the prior year, which included a negative
$460 million fair value adjustment primarily related to higher capital allocated to the business.
Noninterest expense was $1.2 billion, a decrease of $184 million from the prior year, reflecting lower compensation expense.
The provision for credit losses was $4 million, slightly higher than the prior year, despite lower net charge-offs of $104 million,
offset by a reduction in the non credit-impaired allowance for loan losses of $100 million as home prices and delinquency trends
continued to improve.
Card, Commerce Solutions & Auto14 net income was $1.1 billion, a decrease of $33 million compared with the prior year.
Net revenue was $4.6 billion, relatively flat compared with the prior year, driven by higher noninterest revenue on higher Auto
lease income and net interchange income, largely offset by higher amortization of new account originations. Net interest income
was $3.3 billion, flat compared with the prior year.
Noninterest expense was $2.0 billion, up $44 million from the prior year, primarily driven by higher Auto lease depreciation.
The provision for credit losses was $866 million, an increase of $103 million from the prior year despite lower net charge-offs,
reflecting lower reserve releases. The current quarter provision reflected a release of $25 million in Student as compared with a
release of $250 million in the prior year for Credit Card and Student.
CORPORATE & INVESTMENT BANK (CIB)16
Results for CIB
($ millions)
Net revenue
Noninterest expense
Provision for credit losses
Net income
1Q15
4Q14
1Q14
$ 9,582 $ 7,383 $ 8,842
5,657
5,576
5,604
(59)
(31)
49
$ 2,537 $
972 $ 2,125
4Q14
1Q14
$ O/(U) O/(U) %
$ O/(U) O/(U) %
$ 2,199
30% $
740
8%
81
1
53
1
(80)
28
47
NM
$ 1,565
161% $
412
19%
Discussion of Results:
Net income was $2.5 billion, up $412 million, compared with $2.1 billion in the prior year, driven by higher net revenue.
Banking revenue was $3.1 billion, up 12% from the prior year, on strong performance in investment banking fees across products.
Treasury Services revenue was $1.0 billion, down 2% compared with the prior year, driven by lower net interest income and lower
trade finance revenue. Lending revenue was $353 million, up 9% from the prior year, largely reflecting higher gains on securities
received from restructurings.
Markets & Investor Services revenue was $6.5 billion, up 7% from the prior year, despite the impact of business simplification,
driven by higher Markets revenue. Excluding the revenue decline related to business simplification, Total Markets and Fixed
Income Markets would each have been up 20%1. Equity Markets revenue was up 22%. Macro events drove robust client activity
in Fixed Income Markets including in Currencies & Emerging Markets, and Rates, as well as in Equity Markets.
- 10 -
Noninterest expense was $5.7 billion, up 1% from the prior year, driven by higher legal expense and performance-based
compensation expense, largely offset by the impact of business simplification.
The provision for credit losses was a benefit of $31 million, down $80 million from the prior year, driven by higher reserve releases.
COMMERCIAL BANKING (CB)
Results for CB
($ millions)
Net revenue
Noninterest expense
Provision for credit losses
Net income
1Q15
$ 1,742
709
61
$
598
4Q14
1Q14
$ 1,770 $ 1,678
666
686
(48)
5
$
693 $
594
4Q14
1Q14
$ O/(U) O/(U) %
$ O/(U) O/(U) %
(28)
$
(2)% $
64
4%
43
6
23
3
109
NM
56
NM
(95)
$
(14)% $
4
1%
Discussion of Results:
Net income was $598 million, relatively flat compared with the prior year.
Net revenue was $1.7 billion, an increase of $64 million compared with the prior year, driven by higher noninterest revenue on
record gross investment banking revenue. Net interest income was $1.1 billion, down slightly compared with the prior year,
reflecting spread compression on loan and liability products, largely offset by higher balances.
Noninterest expense was $709 million, up $23 million compared with the prior year, driven by higher investment in controls.
The provision for credit losses was $61 million, $56 million higher than the prior year, driven by higher reserve build predominantly
related to Oil & Gas exposures and net charge-offs in the current period compared with net recoveries in the prior year.
ASSET MANAGEMENT (AM)
Results for AM
($ millions)
Net revenue
Noninterest expense
Provision for credit losses
Net income
1Q15
$ 3,005
2,175
4
$
502
4Q14
$ 3,200
2,320
3
$
540
4Q14
1Q14
1Q14
$ O/(U) O/(U) %
$ O/(U) O/(U) %
(195)
$ 2,800 $
(6)% $
205
7%
(145)
2,075
(6)
100
5
(9)
1
33
13
NM
(38)
$
454 $
(7)% $
48
11%
Discussion of Results:
Net income was $502 million, an increase of $48 million from the prior year, reflecting higher revenue, largely offset by higher
noninterest expense.
Net revenue was $3.0 billion, an increase of $205 million from the prior year, driven by higher noninterest revenue on net client
inflows and higher market levels, and higher net interest income on higher deposit and loan balances.
Noninterest expense was $2.2 billion, an increase of $100 million from the prior year, driven by continued investment in both
infrastructure and controls.
Assets under management were $1.8 trillion, an increase of $111 billion from the prior year, due to net inflows to long-term and
liquidity products and the effect of higher market levels.
- 11 -
JPMorgan Chase & Co.
News Release
CORPORATE15
Results for Corporate
($ millions)
Net revenue
Noninterest expense
Provision for credit losses
Net income
4Q14
1Q14
1Q15
4Q14
1Q14
$ O/(U) O/(U) %
$ O/(U) O/(U) %
(1) $
(460)
(212)
$
(213) $
247 $
NM $
NM
(166)
(284)
152
436
(65)%
318
NM
(6)
(11)
(5)
1
17
6
55%
(489)
(57)
$
58 $
547 $
115 $
(89)% $
(50)%
Discussion of Results:
Net income was $58 million, compared with net income of $115 million in the prior year. Lower net revenue and higher expense
were largely offset by a benefit from tax adjustments of $177 million versus a tax charge of approximately $90 million in the prior
year. Treasury & CIO reported a net loss of $221 million, which included a $173 million pre-tax loss associated with the amortization
of cash flow hedges, primarily related to the exit of certain non-operational deposits.
Net revenue was a loss of $213 million, compared with a loss of $1 million in the prior year, driven by lower private equity gains.
Noninterest expense was $152 million, an increase of $318 million from the prior year, driven by higher legal expense.
- 12 -
JPMorgan Chase & Co.
News Release
1. Notes on non-GAAP financial measures:
a)
In addition to analyzing the Firm's results on a reported basis, management reviews the Firm's results, including the overhead
ratio, and the results of the lines of business, on a “managed” basis, which is a non-GAAP financial measure. The Firm's
definition of managed basis starts with the reported U.S. GAAP results and includes certain reclassifications to present total
net revenue for the Firm (and each of the business segments) on a fully taxable-equivalent (“FTE”) basis. Accordingly, revenue
from investments that receive tax credits and tax-exempt securities is presented in the managed results on a basis comparable
to taxable investments and securities. This non-GAAP financial measure allows management to assess the comparability of
revenue arising from both taxable and tax-exempt sources. The corresponding income tax impact related to tax-exempt items
is recorded within income tax expense. These adjustments have no impact on consolidated net income as reported by the Firm
as a whole or by the lines of business.
b) Tangible common equity (“TCE”), return on tangible common equity (“ROTCE”) and tangible book value per share (“TBVPS”)
are each non-GAAP financial measures. TCE represents the Firm’s common stockholders’ equity (i.e., total stockholders’
equity less preferred stock) less goodwill and identifiable intangible assets (other than MSRs), net of related deferred tax
liabilities. ROTCE measures the Firm’s earnings as a percentage of average TCE. TBVPS represents the Firm's TCE at periodend divided by common shares at period-end. TCE, ROTCE and TBVPS are meaningful to the Firm, as well as investors and
analysts, in assessing the Firm’s use of equity.
c)
Adjusted expense and adjusted overhead ratio are each non-GAAP financial measures, and exclude Firmwide legal expense.
Management believes this information helps investors understand the effect of these items on reported results and provides
an alternate presentation of the Firm’s performance.
d) Estimated as of 1Q15. Common equity Tier 1 (“CET1”) capital, the CET1 ratio and the supplementary leverage ratio (“SLR”)
under the Basel III Advanced Fully Phased-In rules, are each non-GAAP financial measures. These measures are used by
management, bank regulators, investors and analysts to assess and monitor the Firm’s capital position. For additional
information on these measures, see Regulatory capital on pages 146–153 of JPMorgan Chase & Co.’s Annual Report on Form
10-K for the year ended December 31, 2014.
e)
The CIB provides the change in Total Markets and Fixed Income Markets revenue excluding the revenue related to business
simplification, a non-GAAP financial measure, to provide a more meaningful assessment of the underlying performance of
the business.
- 13 -
JPMorgan Chase & Co.
News Release
Additional notes:
2.
Represents the estimated impact of Basel III Advanced Fully Phased-In capital rules to which the Firm will be subject
commencing January 1, 2019.
3.
Last twelve months (“LTM”).
4.
Percentage comparisons noted in the bullet points are calculated for the first quarter of 2015 versus the prior-year first quarter.
5.
Excludes Commercial Card.
6.
CB’s Commercial and Industrial ("C&I") grouping is internally defined to include certain client segments (Middle Market,
which includes Nonprofit Clients and Corporate Client Banking) and does not align with regulatory definitions.
7.
CB's Commercial Real Estate ("CRE") grouping is internally defined to include certain client segments (Real Estate Banking,
Commercial Term Lending and Community Development Banking) and does not align with regulatory definitions.
8.
Assumes a tax rate of 38% for items that are tax deductible.
9.
Represents the estimated liquidity coverage ratio ("LCR") based on the Firm's current understanding of the U.S. LCR rules
which became effective January 1, 2015.
10. High quality liquid assets (“HQLA”) is the estimated amount of assets that qualify for inclusion in the U.S. LCR, which
became effective January 1, 2015.
11. Core loans include loans considered central to the Firm’s ongoing businesses; core loans exclude runoff portfolios, discontinued
portfolios and portfolios the Firm has an intent to exit.
12. Net of employee issuance.
13. The amount of credit provided to clients represents new and renewed credit, including loans and commitments. The amount
of credit provided to small businesses reflects loans and increased lines of credit provided by Consumer & Business Banking;
Card, Commerce Solutions & Auto; and Commercial Banking. The amount of credit provided to nonprofit and government
entities, including states, municipalities, hospitals and universities, represents credit provided by the Corporate & Investment
Bank and Commercial Banking.
14. Chase Commerce Solutions, formerly known as Merchant Services, includes Chase Paymentech, ChaseNet and Chase Offers
businesses.
15. Effective with the first quarter of 2015, the Firm began including the results of Private Equity in the Other Corporate line
within the Corporate segment. Prior period amounts have been revised to conform with the current period presentation. The
Corporate segment’s balance sheets and results of operations were not impacted by this reporting change.
16. Effective January 1, 2015, the Firm adopted new accounting guidance for investments in affordable housing projects that
qualify for the low-income housing tax credit. The guidance was required to be applied retrospectively and accordingly, certain
prior period amounts have been revised to conform with the current period presentation. For further discussion, see page 2 of
the Earnings Release Financial Supplement.
- 14 -
文中にある頁等の参照先につきましては、こちらにある原文リリースをご覧ください。
JPMorgan Chase & Co.
270 Park Avenue, New York, NY 10017-2070
NYSE symbol: JPM
www.jpmorganchase.com
News release: IMMEDIATE RELEASE
JPMORGAN CHASE REPORTS SECOND-QUARTER 2015 NET INCOME OF
$6.3 BILLION, OR $1.54 PER SHARE, ON REVENUE1 OF $24.5 BILLION
14% RETURN ON TANGIBLE COMMON EQUITY1
Common equity Tier 11,2
11.0%
ROTCE1
14%
Overhead ratio1
59%
Net payout LTM3,4
52%
STRONG PERFORMANCE IN THE SECOND-QUARTER5
Firmwide
Balance
Sheet
CCB
ROE of 19%
OH of 56%
CIB
ROE of 14%
OH of 59%
CB
ROE of 14%
OH of 40%
AM
ROE of 19%
OH of 76%
Period-end balance sheet down $123 billion YTD
Jamie Dimon, Chairman and CEO, commented on the financial
results:
Loans-to-deposits ratio of 61%, up 5% QoQ
Core loans6 up 12% YoY and 5% QoQ
“Our Company had strong results this quarter, and each of our
businesses performed well, with broad and consistent underlying
growth. This quarter was another example of the power of our
platform and risk discipline, and of being there for our clients –
as we always are – in good times and in volatile markets.”
Consumer & Business Banking average deposits up
9%; record client investment assets, up 8%
Over 21 million active mobile customers, up 22%
Credit card sales volume7 up 7% and Merchant
processing volume up 12%
Maintained #1 ranking for Global Investment
Banking fees with 8.2% wallet share for 2Q15
#1 wallet share in North America and EMEA and #2
in Asia in 2Q15
Dimon added:
“We are focused on executing on our commitments and we’ve
made good progress this quarter, including meeting regulatory
requirements, reducing non-operating deposits, and adding to
our capital. We are also on target to deliver on our expense
commitments. We continue to add value to our customers, clients
and communities, and, as always, we operate with fortress
principles."
Average loan balances up 11% YoY, and 4% QoQ
Gross investment banking revenue with Commercial
Banking clients up 22%
Twenty-fifth consecutive quarter of positive net longterm flows to assets under management
Record average loan balances, up 9%
Record assets under management, up 4%
FORTRESS PRINCIPLES
SUPPORTED CONSUMERS, BUSINESSES & COMMUNITIES
1,8
Tangible book value per share
$1 trillion of credit and capital11 raised in the first six months of 2015
$115 billion of credit for consumers
$11 billion of credit for U.S. small businesses
$314 billion of credit for corporations
$556 billion of capital raised for clients
$35 billion of credit and capital raised for nonprofit and government
entities, including states, municipalities, hospitals and universities
of $46.13, up 7% YoY
Basel III common equity Tier 11,2 of $169 billion; ratio of 11.0%2
Compliant with U.S. LCR9 – HQLA10 of $532 billion
Firm SLR1 of 6.0% and Bank SLR1 of 6.1%
OPERATING LEVERAGE
Adjusted expense1 of $14.2 billion and adjusted overhead ratio1 of 58%
Hired over 9,100 U.S. veterans and service members since 2011
CAPITAL RETURN
Approximately $2.6 billion returned to shareholders4 in the second quarter
$1.0 billion of net repurchases and record common dividend of $0.44 per
share
Investor Contact: Sarah Youngwood (212) 270-7325
Media Contact: Joe Evangelisti (212) 270-7438
1
For notes on non-GAAP financial measures, including managed basis reporting, see page 5.
For additional notes see page 6.
- 15 -
JPMorgan Chase & Co.
News Release
In the discussion below of JPMorgan Chase as a Firm and of its business segments, information is presented on a managed
basis. For more information about managed basis, as well as other non-GAAP financial measures used by management to
evaluate the performance of each line of business, see page 5. Percentage comparisons noted in the sections below are
calculated for the second quarter of 2015 versus the prior-year second quarter, unless otherwise specified.
JPMORGAN CHASE (JPM)8
Results for JPM
($ millions, except per share data)
Net revenue
1Q15
2Q15
1Q15
2Q14
$ 24,531
$ 24,820
$ 25,337
14,500
14,883
935
959
Noninterest expense
Provision for credit losses
Net income
Earnings per share
$
6,290
$
5,914
1.54
Return on tangible common equity
1.45
14%
14%
$
$ O/(U)
2Q14
O/(U) %
$ O/(U)
O/(U) %
(289)
(1)% $
(806)
(3)%
15,431
(383)
(3)
(931)
(6)
692
(24)
(3)
243
35
5,980
$
$
1.46
376
6% $
310
5%
0.09
6
0.08
5
14%
Net revenue on a U.S. GAAP basis totaled $23.8 billion, $24.1 billion, and $24.7 billion for the second quarter of 2015, first quarter of 2015, and second
quarter of 2014, respectively.
Discussion of Results:
Net income was $6.3 billion, up 5%.
Net revenue was $24.5 billion, down 3%, driven by lower Mortgage Banking revenue and lower CIB Markets revenue related to
business simplification, partially offset by growth in Asset Management.
Noninterest expense was $14.5 billion, down 6%, driven by business simplification, lower legal expense and lower Mortgage
Banking expense.
The provision for credit losses was $935 million, up 35%, despite lower net charge-offs, due to lower reserve releases compared
with the prior year. In the current quarter, consumer reserve releases of $324 million were largely offset by an increase in reserves
across the wholesale businesses of $252 million driven by select downgrades, including Oil & Gas.
CONSUMER & COMMUNITY BANKING (CCB)
Results for CCB
($ millions)
Net revenue
Noninterest expense
Provision for credit losses
Net income
2Q15
$ 11,015
6,210
702
$ 2,533
1Q15
$ 10,704
6,190
930
$ 2,219
2Q14
$ 11,518
6,456
852
$ 2,496
1Q15
2Q14
$ O/(U) O/(U) %
$ O/(U) O/(U) %
(503)
$
311
3% $
(4)%
(246)
20
—
(4)
(228)
(25)
(150)
(18)
$
314
14% $
37
1%
Discussion of Results:
Net income was $2.5 billion, an increase of 1%.
Net revenue was $11.0 billion, a decrease of 4%. Net interest income was $6.9 billion, down 2%, driven by spread compression,
largely offset by higher deposit and loan balances. Noninterest revenue was $4.1 billion, down 8%, driven by lower Mortgage
Banking revenue.
Noninterest expense was $6.2 billion, a decrease of 4% from the prior year, predominantly driven by lower Mortgage Banking
expense. The provision for credit losses was $702 million, a decrease of 18%, reflecting lower net charge-offs.
Consumer & Business Banking net income was $831 million, a decrease of 8%.
Net revenue was $4.5 billion, down 3%, reflecting lower net interest income due to spread compression, largely offset by higher
deposit balances. Noninterest revenue was $1.9 billion, up 2% from the prior year, driven by higher debit card and investment
revenue.
Noninterest expense was $3.1 billion, an increase of 1%, driven by higher legal expense, largely offset by branch efficiencies.
- 16 -
JPMorgan Chase & Co.
News Release
Mortgage Banking net income was $584 million, a decrease of 20%.
Net revenue was $1.8 billion, a decrease of 21%, driven by lower net servicing revenue and lower repurchase benefit. Net revenue
increased 5% from the prior quarter, driven by higher MSR revenue.
Noninterest expense was $1.1 billion, a decrease of 15%, due to mortgage efficiencies.
The provision for credit losses was a benefit of $219 million, compared with a benefit of $188 million in the prior year, reflecting
lower net charge-offs.
Card, Commerce Solutions & Auto12 net income was $1.1 billion, an increase of 30%.
Net revenue was $4.7 billion, an increase of 3%. Net interest income was $3.3 billion, an increase of 1%, driven by higher average
loan balances and lower revenue reversals largely offset by spread compression. Noninterest revenue was $1.4 billion, up 5%, on
higher Auto lease income and net interchange income.
Noninterest expense was $2.0 billion, down 4%, driven by lower legal expense.
The provision for credit losses was $853 million, a decrease of 12%, reflecting lower net charge-offs.
CORPORATE & INVESTMENT BANK (CIB)8
Results for CIB
($ millions)
Net revenue
Noninterest expense
Provision for credit losses
Net income
2Q15
8,723
5,137
50
$ 2,341
$
1Q15
2Q14
1Q15
2Q14
$ O/(U) O/(U) %
$ O/(U) O/(U) %
(859)
(542)
$ 9,582 $ 9,265 $
(9)% $
(6)%
(520)
(921)
5,657
6,058
(9)
(15)
(31)
(84)
81
NM
134
NM
(196)
$ 2,537 $ 2,131 $
(8)% $
210
10%
Discussion of Results:
Net income was $2.3 billion, up 10%.
Net revenue was $8.7 billion, a decrease of 6%. Banking revenue13 was $2.9 billion, down 3%, reflecting lower Lending revenue
due to losses on securities received from restructurings. Investment banking revenue was up 4% on higher advisory fees and higher
debt underwriting fees, partially offset by lower equity underwriting fees compared to a strong quarter for equity underwriting in
the prior year. Treasury Services revenue14 was $901 million, down 2%, driven by lower net interest income largely offset by
noninterest revenue.
Markets & Investor Services revenue13 was $5.8 billion, down 7%. Excluding the revenue decline related to business simplification
and the Markit IPO gain in the second quarter of 2014, Total Markets revenue would have been down 1%1, and Fixed Income
Markets revenue would have been down 10%1. This was driven by continued weakness in Credit and Securitized Products, as well
as lower revenue in Currencies & Emerging Markets, partially offset by strength in Rates. Equity Markets revenue was up 27%
driven by strong performance across derivatives and cash.
Noninterest expense was $5.1 billion, down 15%, driven by business simplification, lower legal expense and lower compensation
expense.
The provision for credit losses was $50 million, up $134 million from the prior year, reflecting higher reserves, driven by Oil &
Gas.
- 17 -
JPMorgan Chase & Co.
News Release
COMMERCIAL BANKING (CB)
Results for CB
($ millions)
Net revenue
Noninterest expense
Provision for credit losses
Net income
2Q15
1,739
703
182
$
525
$
1Q15
1,742
709
61
$
598
$
1Q15
2Q14
2Q14
$ O/(U) O/(U) %
$ O/(U) O/(U) %
(3)
$ 1,731 $
—% $
8
—%
(6)
675
(1)
28
4
(67)
121
198
249
NM
(73)
(152)
$
677 $
(12)% $
(22)%
Discussion of Results:
Net income was $525 million, a decrease of 22%, driven by a higher provision for credit losses.
Net revenue was $1.7 billion, flat compared with the prior year. Net interest income was $1.1 billion, down 2%, reflecting spread
compression, largely offset by higher lending balances. Noninterest revenue was $609 million, up 6% compared with the prior
year driven by higher investment banking revenue; and down 4% compared to the prior quarter, driven by lower investment banking
revenue compared with record first quarter 2015 results.
Noninterest expense was $703 million, up 4%, driven by higher investment in controls, and was largely flat from the prior quarter.
The provision for credit losses was $182 million, $249 million higher than the prior year, driven by higher reserves due to select
downgrades.
ASSET MANAGEMENT (AM)
Results for AM
($ millions)
Net revenue
Noninterest expense
Provision for credit losses
Net income
2Q15
$ 3,175
2,406
—
$
451
1Q15
$ 3,005
2,175
4
$
502
2Q14
$ 2,982
2,062
1
$
569
1Q15
2Q14
$ O/(U) O/(U) %
$ O/(U) O/(U) %
$
170
6% $
193
6%
231
11
344
17
(4) (100)
(1) (100)
(51)
(118)
$
(10)% $
(21)%
Discussion of Results:
Net income was $451 million, a decrease of 21%, reflecting higher noninterest expense due to higher legal expense and the impact
of a loss from a held-for-sale asset, largely offset by higher revenue.
Net revenue was $3.2 billion, an increase of 6%. Net interest income was $631 million, up 5%, driven by higher loan and deposit
balances. Noninterest revenue was $2.5 billion, up 7%, on higher market levels and net client inflows into assets under management.
Assets under management were $1.8 trillion, an increase of 4% from the prior year, due to net inflows to long-term products and
liquidity products.
CORPORATE15
Results for Corporate
($ millions)
Net revenue
Noninterest expense
Provision for credit losses
Net income
1Q15
2Q14
2Q15
1Q15
2Q14
$ O/(U) O/(U) %
$ O/(U) O/(U) %
(213) $
(159) $
$
(121) $
92
43% $
38
24%
(108)
(136)
(76)
44
152
180
(71)%
(5)
(10)
1
6
NM
11
NM
$
440 $
58 $
107 $
382
NM $
333
311%
Discussion of Results:
Net income was $440 million, compared with net income of $107 million in the prior year. The current quarter reflected a higher
benefit from discrete tax items and lower legal expense. Net revenue was a loss of $121 million, compared with a loss of $159
million in the prior year. Noninterest expense was $44 million, a decrease of $136 million from the prior year, driven by lower
legal expense.
- 18 -
JPMorgan Chase & Co.
News Release
1. Notes on non-GAAP financial measures:
a)
In addition to analyzing the Firm's results on a reported basis, management reviews the Firm's results, including the overhead
ratio, and the results of the lines of business, on a “managed” basis, which is a non-GAAP financial measure. The Firm's
definition of managed basis starts with the reported U.S. GAAP results and includes certain reclassifications to present total
net revenue for the Firm (and each of the business segments) on a fully taxable-equivalent (“FTE”) basis. Accordingly, revenue
from investments that receive tax credits and tax-exempt securities is presented in the managed results on a basis comparable
to taxable investments and securities. This non-GAAP financial measure allows management to assess the comparability of
revenue arising from both taxable and tax-exempt sources. The corresponding income tax impact related to tax-exempt items
is recorded within income tax expense. These adjustments have no impact on consolidated net income as reported by the Firm
as a whole or by the lines of business.
b) Tangible common equity (“TCE”), return on tangible common equity (“ROTCE”) and tangible book value per share (“TBVPS”)
are each non-GAAP financial measures. TCE represents the Firm’s common stockholders’ equity (i.e., total stockholders’
equity less preferred stock) less goodwill and identifiable intangible assets (other than MSRs), net of related deferred tax
liabilities. ROTCE measures the Firm’s earnings as a percentage of average TCE. TBVPS represents the Firm's TCE at periodend divided by common shares at period-end. TCE, ROTCE and TBVPS are meaningful to the Firm, as well as investors and
analysts, in assessing the Firm’s use of equity.
c)
Adjusted expense and adjusted overhead ratio are each non-GAAP financial measures, and exclude Firmwide legal expense
($291 million in the second quarter of 2015). Management believes this information helps investors understand the effect of
these items on reported results and provides an alternate presentation of the Firm’s performance.
d) Estimated as of 2Q15. Common equity Tier 1 (“CET1”) capital, the CET1 ratio and the supplementary leverage ratio (“SLR”)
under the Basel III Advanced Fully Phased-In rules, are each non-GAAP financial measures. These measures are used by
management, bank regulators, investors and analysts to assess and monitor the Firm’s capital position. For further discussion
of these measures, see Regulatory capital on pages 146–153 of JPMorgan Chase & Co.’s Annual Report on Form 10-K for
the year ended December 31, 2014 and pages 55-61 of the Firm's Quarterly Report on Form 10-Q for the quarter ended March
31, 2015.
e)
The CIB provides the change in Total Markets and Fixed Income Markets revenue excluding the revenue related to business
simplification and the Markit IPO gain in the second quarter of 2014, a non-GAAP financial measure, to provide a more
meaningful assessment of the underlying performance of the business.
- 19 -
JPMorgan Chase & Co.
News Release
Additional notes:
2.
Represents estimated common equity Tier 1 (“CET1”) capital and ratio under the Basel III Advanced Fully Phased-In capital
rules to which the Firm will be subject to as of January 1, 2019.
3.
Last twelve months (“LTM”).
4.
Net of employee issuance.
5.
Percentage comparisons noted in the bullet points are calculated for the second quarter of 2015 versus the prior-year second
quarter, unless otherwise specified.
6.
Core loans include loans considered central to the Firm’s ongoing businesses; core loans exclude runoff portfolios, discontinued
portfolios and portfolios the Firm has an intent to exit.
7.
Excludes Commercial Card.
8.
Effective January 1, 2015, the Firm adopted new accounting guidance for investments in affordable housing projects that
qualify for the low-income housing tax credit. The guidance was required to be applied retrospectively and accordingly, certain
prior period amounts have been revised to conform with the current period presentation. For further discussion, see page 2 of
the Earnings Release Financial Supplement.
9.
Represents the estimated liquidity coverage ratio ("LCR") based on the U.S. LCR rules which became effective January 1,
2015.
10. High quality liquid assets (“HQLA”) is the estimated amount of assets that qualify for inclusion in the U.S. LCR, which
became effective January 1, 2015.
11. The amount of credit provided to clients represents new and renewed credit, including loans and commitments. The amount
of credit provided to small businesses reflects loans and increased lines of credit provided by Consumer & Business Banking;
Card, Commerce Solutions & Auto; and Commercial Banking. The amount of credit provided to nonprofit and government
entities, including states, municipalities, hospitals and universities, represents credit provided by the Corporate & Investment
Bank and Commercial Banking.
12. Chase Commerce Solutions, formerly known as Chase Merchant Services, includes the Chase Paymentech, ChaseNet and
Chase Offers businesses.
13. Effective in the second quarter of 2015, Investment banking revenue (formerly Investment banking fees) incorporates all
revenue associated with investment banking activities, and is reported net of investment banking revenue shared with other
lines of business; previously such shared revenue had been reported in Fixed Income Markets and Equity Markets. Prior
periods have been revised to conform with the current period presentation.
14. Effective in the second quarter of 2015, Trade Finance revenue was transferred from Treasury Services to Lending. Prior
periods have been revised to conform with the current period presentation.
15. Effective with the first quarter of 2015, the Firm began including the results of Private Equity in the Other Corporate line
within the Corporate segment. Prior period amounts have been revised to conform with the current period presentation. The
Corporate segment’s balance sheets and results of operations were not impacted by this reporting change.
- 20 -
【ご参考】
ご参考】
下記は
下記は 2015 年 4 月 14 日付リリースの概略部分の参考
リースの概略部分の参考和訳です。
参考和訳です。本文と原文の
和訳です。本文と原文の内容に
本文と原文の内容に相違がある場合は原文が
内容に相違がある場合は原文が優先します。
相違がある場合は原文が優先します。
原文リリースはこちら
こちらからご覧いただけます。
原文リリースは
こちらからご覧いただけます。
年第 1 四半期決算
JP モルガン・チェース、2015
四半期決算を発表
決算を発表
モルガン・チェース、
純利益 59 億ドル、EPS 1.45 ドル、収益
ドル、収益1 248 億ドル
•
•
•
•
有形自己
）1 14%
有形自己資本利益率
自己資本利益率（
資本利益率（ROTCE）
普通株ベース Tier1 自己資本比率 1, 2 10.6%
経費率（OH）
）1 60%
経費率（
配当性向 3, 12 53%
2015 年第 1 四半期（以下、当期）の
四半期（以下、当期）の業績は
業績は堅調
4
コンシューマー＆コミュニティ・バンキング （ROE: 17% OH: 58%）
）
コンシューマー＆ビジネス・バンキングの平均預金残高は 9%増、顧客投資資産は 12%増で過去最高
モバイルバンキング利用は活発で顧客数は 22%増
5
クレジットカード販売取扱高 は 8%増
コーポレート＆インベストメント・バンク （ROE: 16% OH: 59%）
）
グローバル投資銀行の手数料収入は業界首位を維持、市場シェアは 8.6%
市場取引活動は活発
コマーシャル・バンキング （ROE: 17% OH: 41%）
）
6
7
期末融資残高は前年比 11%増、前期比 3%増 （C&I は前期比 4%増、CRE は前期比 3%増）
コマーシャル・バンキング顧客による投資銀行総収入は 68%増で過去最高水準
アセット・マネジメント （ROE: 22% OH: 72%）
）
長期顧客資産は 24 四半期連続で純流入
顧客資産残高（AUM）は 7%増で過去最高
平均融資残高は 8%増
特別項目
特別項目
8
8
487 百万ドル（税引後）の訴訟費用 を計上（税引後で 1 株当たり 0.13 ドルの収益押し下げ要因）
盤石な財務基盤
盤石な財務基盤
1,16
有形資産の 1 株当たり簿価
は前年比 9%増の 45.45 ドル
1,2
バーゼル III 普通株ベース Tier1 自己資本 は 1,670 億ドル、比率は 10.6%
9
10
米国 LCR(流動性カバレッジ比率) に適応、HQLA(適格流動資産) は 6,140 億ドル
1
1
会社全体の SLR(補完的レバレッジ比率) は 5.7%、銀行の SLR は 6.0%
11
コア・ローン は前年比 10%増
営業レバレッジ
1
1
調整後費用 は 142 億ドル、調整後経費率 は 57%
株主利益率
12
当期は約 31 億ドルを株主に還元
取締役会は第 2 四半期に普通株式配当を現在の 1 株当たり 0.40 ドルから同 0.44 ドルに引き上げる意向
1. マネージド・ベースを含む非 GAAP 財務指標の注記はこちらにある英文リリース 6 頁を参照。追加注記は同 7 頁参照
- 21 -
【ご参考】
ご参考】
お客様や地域社会のために
13
当期の融資・資本調達 実施額は 4,920 億ドル
‑
個人のお客様向け融資 540 億ドル
‑
米国のスモール・ビジネス向け融資 50 億ドル
‑
法人向け融資 1,580 億ドル
‑
お客様向けに実施した資本調達 2,600 億ドル
‑
州、自治体、病院、大学等の非営利団体・政府機関向けに実施した融資・資本調達は 160 億ドル
2011 年から累計約 8,700 人の米国退役軍人・軍従事者を採用
＿＿＿＿＿＿＿＿＿＿
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
2019 年 1 月 1 日より適応となるバーゼル III 最終案の完全かつ段階的に施行される資本規制の推定インパクト
過去 12 ヶ月（LTM）
注記のない限り、%は前年同期比
コマーシャルカードを除く
コマーシャル・バンキングの C&I グループは、社内では特定顧客セグメント（非営利顧客と法人向けバンキングを含むミドル・マーケット）を含
むと定義しており、規制当局による定義と一致しない
コマーシャル・バンキングの CRE グループは、社内では特定顧客セグメント（不動産バンキング、商業融資、コミュニティ開発バンキング）を
含むと定義しており、規制当局による定義と一致しない
課税控除対象項目の税率は 38％と想定
流動性カバレッジ比率（LCR）は、2015 年 1 月 1 日より適応となった米国 LCR 最終規則についての当社の理解に基づく
適格流動資産（HQLA）は、2015 年 1 月 1 日より適応となった米国 LCR に組み入れ可能な資産の推定総額
コア・ローンには、当社の既存事業の中核を成すとみなされるローンを含む。処分、廃止または撤退予定のポートフォリオは除く
従業員持株分を除く
お客様向け貸付は、ローンおよびコミットメントを含む新規および継続更新された貸付枠を指す。スモール・ビジネス向け貸付は、コンシュー
マー＆ビジネス・バンキング、カード、コマース・ソリューション＆オートおよびコマーシャル・バンキングが提供した貸付と貸付枠の増加分を指
す。州、自治体、病院、大学等の非営利団体・政府機関向けに実施した貸付は、コーポレート＆インベストメント・バンクとコマーシャル・バン
キングが提供した貸付を示す。
チェース・コマース・ソリューション（旧マーチャント・サービス）には、チェース・ペイメンテック、チェースネットおよびチェース・オファーズが手掛
ける業務が含まれる
2015 年第 1 四半期よりプライベート・エクイティはコーポレート・セグメントのその他のコーポレートの項目に算入。当期以前の数字は当期決
算と比較可能となるよう調整。コーポレート・セグメントの貸借対照表と収益に、この変更は影響しない
2015 年 1 月 1 日以降、低所得者住宅税控除の対象となる低価格住宅プロジェクトへの投資については新たな会計原則を導入。当原則は、
過去に遡って適切に適用されることを求められため、当期以前の一部数字は当期と比較可能となるよう調整。詳細は英文リリース補足財務
情報の 2 頁参照
- 22 -
【ご参考】
ご参考】
下記は
下記は 2015 年 7 月 14 日付リリースの概略部分の参考
リースの概略部分の参考和訳です。
参考和訳です。本文と原文の
和訳です。本文と原文の内容に
本文と原文の内容に相違がある場合は原文が
内容に相違がある場合は原文が優先します。
相違がある場合は原文が優先します。
原文リリースはこちら
こちらからご覧いただけます。
原文リリースは
こちらからご覧いただけます。
年第 2 四半期決算
JP モルガン・チェース、2015
四半期決算を発表
決算を発表
モルガン・チェース、
純利益 63 億ドル、EPS 1.54 ドル、収益
ドル、収益1 245 億ドル
•
•
•
•
有形自己
）1 14%
有形自己資本利益率（
自己資本利益率（ROTCE）
資本利益率（
普通株ベース Tier1 自己資本比率
自己資本比率 1, 2 11.0%
経費率（OH）
）1 59%
経費率（
配当性向 3, 4 52%
2015 年第 2 四半期（以下、当期）の
四半期（以下、当期）の業績は
業績は堅調
5
バランスシート
当期末時点のバランスシートは年初から 1,230 億ドル減少
預貸率は 61%、前期比 5％増
6
コア・ローン は前年比 12%増、前期比 5%増
コンシューマー＆コミュニティ・バンキング （ROE: 19% OH: 56%）
）
コンシューマー＆ビジネス・バンキングの平均預金残高は 9%増、顧客投資資産は 8%増で過去最高
モバイル・バンキングのアクティブ・カスタマー数は 22%増えて 21 百万人超
7
クレジットカード販売取扱高 は 7%増、加盟店取扱高は 12％増
コーポレート＆インベストメント・バンク （ROE: 14% OH: 59%）
）
グローバル投資銀行の手数料収入は業界首位を維持、市場シェアは 8.2%
市場シェアは北米と欧州・中東・アフリカで業界首位、アジアで 2 位
コマーシャル・バンキング （ROE: 14% OH: 40%）
）
平均融資残高は前年比 11%増、前期比 4%増
コマーシャル・バンキング顧客による投資銀行総収入は 22%増
アセット・マネジメント （ROE: 19% OH: 76%）
）
長期顧客資産は 25 四半期連続で純流入
平均融資残高は 9%増
顧客資産残高（AUM）は 4%増
盤石な財務基盤
盤石な財務基盤
1,8
有形資産の 1 株当たり簿価 は前年比 7%増の 46.13 ドル
1,2
2
バーゼル III 普通株ベース Tier1 自己資本 は 1,690 億ドル、比率は 11.0%
9
10
米国 LCR(流動性カバレッジ比率) に適応、HQLA(適格流動資産) は 5,320 億ドル
1
1
全体の SLR(補完的レバレッジ比率) は 6.0%、銀行の SLR は 6.1%
営業レバレッジ
1
1
調整後費用 は 142 億ドル、調整後経費率 は 58%
1. マネージド・ベースを含む非 GAAP 財務指標の注記はこちらにある英文リリース 5 頁を参照。追加注記は同 6 頁参照
- 23 -
【ご参考】
ご参考】
資本リターン
4
当期は約 26 億ドルを株主に還元
10 億ドルの自社株買い、普通株式の配当は過去最高水準の 1 株当たり 0.44 ドル
お客様や地域社会のために
11
年初来 6 ヵ月間の融資・資本調達 実施額は 1 兆ドル
‑
個人のお客様向け融資 1,150 億ドル
‑
米国のスモール・ビジネス向け融資 110 億ドル
‑
法人向け融資 3,140 億ドル
‑
お客様向けに実施した資本調達 5,560 億ドル
‑
州、自治体、病院、大学等の非営利団体・政府機関向けに実施した融資・資本調達は 350 億ドル
2011 年から累計 9,100 人超の米国退役軍人・軍従事者を採用
＿＿＿＿＿＿＿＿＿＿
2.
3.
4.
5.
6.
7.
8.
2019 年 1 月 1 日より適応のバーゼル III 最終案の資本規制の普通株等 Tier 1（CET1）自己資本および比率推定値
過去 12 ヵ月（LTM）
従業員持株分は除外
注記のない限り%は前年同期比
コア・ローンには既存事業の中核を成すとみなされるローンが含まれ、処分、廃止または撤退予定のものは除外
コマーシャル・カードは除外
2015 年 1 月 1 日より低所得者住宅税控除の対象となる住宅プロジェクト向け投資には新会計原則を導入。新原則を遡及適用し、当期と比
較可能となるよう過去の数値を調整。詳細は英文リリース補足財務情報の 2 頁参照
9. 流動性カバレッジ比率（LCR）推定値は 2015 年 1 月 1 日適応の米国 LCR 最終規則に基づく
10. 適格流動資産（HQLA）は 2015 年 1 月 1 日適応の米国 LCR に組み入れ可能な資産の推定総額
11. お客様向け貸付はローンおよびコミットメントを含む新規および継続更新された貸付枠を指す。スモール・ビジネス向け貸付はコンシューマー
＆ビジネス・バンキング、カード、コマース・ソリューション＆オートおよびコマーシャル・バンキングが提供した貸付と貸付枠の増加分を指す。
州、自治体、病院、大学等の非営利団体・政府機関向けに実施した貸付は、コーポレート＆インベストメント・バンクとコマーシャル・バンキン
グが提供した貸付を示す
- 24 -
文中にある頁等の参照先につきましては、こちらにある原文リリースをご覧ください。
JPMorgan Chase & Co.
Consolidated statements of income (unaudited)
Three months ended
June 30,
(in millions, except per share data)
2015
Six months ended
June 30,
2014
2015
2014
Revenue
Investment banking fees
$
1,833
$
1,751
$
3,627
$
3,171
Principal transactions
2,834
2,908
6,489
6,230
Lending- and deposit-related fees
1,418
1,463
2,781
2,868
Asset management, administration and commissions
4,015
4,007
7,822
7,843
Securities gains
44
12
96
42
783
1,291
1,488
1,805
1,615
1,549
3,046
2,957
586
899
1,168
1,512
Noninterest revenue
13,128
13,880
26,517
26,428
Interest income
12,514
12,861
25,079
25,654
Interest expense
1,830
2,063
3,718
4,189
Net interest income
10,684
10,798
21,361
21,465
Total net revenue
23,812
24,678
47,878
47,893
935
692
1,894
1,542
7,694
7,610
15,737
15,469
(a)
Mortgage fees and related income
Card income
Other income
Provision for credit losses
Noninterest expense
Compensation expense
Occupancy expense
923
973
1,856
1,925
Technology, communications and equipment expense
1,499
1,433
2,990
2,844
Professional and outside services
1,768
1,932
3,402
3,718
642
650
1,233
1,214
Marketing
Other expense
1,974
2,833
4,165
4,897
14,500
15,431
29,383
30,067
Income before income tax expense
8,377
8,555
16,601
16,284
Income tax expense
2,087
2,575
4,397
5,035
Total noninterest expense
Net income
$
6,290
$
5,980
$
12,204
$
11,249
Net income applicable to common stockholders
$
5,776
$
5,568
$
11,228
$
10,460
$
1.56
$
1.47
$
3.02
$
2.76
Net income per common share data
Basic earnings per share
Diluted earnings per share
1.54
1.46
2.99
2.74
Weighted-average basic shares
3,707.8
3,780.6
3,716.6
3,783.9
Weighted-average diluted shares
3,743.6
3,812.5
3,750.5
Cash dividends declared per common share
$
0.44
$
0.40
$
0.84
3,818.1
$
0.78
(a) The Firm recognized other-than-temporary impairment (“OTTI”) losses of $1 million for the three months ended June 30, 2015, and $2 million for each of
the six months ended June 30, 2015 and 2014. The Firm did not recognize OTTI losses for the three months ended June 30, 2014.
- 25 -
JPMorgan Chase & Co.
Consolidated balance sheets (unaudited)
(in millions, except share data)
Jun 30, 2015
Dec 31, 2014
Assets
Cash and due from banks
$
24,095 $
27,831
Deposits with banks
398,807
484,477
Federal funds sold and securities purchased under resale agreements (included $28,670 and $28,585 at fair value)
212,850
215,803
Securities borrowed (included $495 and $992 at fair value)
98,528
110,435
Trading assets (included assets pledged of $125,224 and $125,034)
377,870
398,988
Securities (included $266,201 and $298,752 at fair value and assets pledged of $22,616 and $24,912)
317,795
348,004
Loans (included $2,431 and $2,611 at fair value)
791,247
757,336
Allowance for loan losses
(13,915)
(14,185)
Loans, net of allowance for loan losses
777,332
743,151
Accrued interest and accounts receivable
69,642
70,079
Premises and equipment
15,073
15,133
Goodwill
47,476
47,647
Mortgage servicing rights
7,571
7,436
Other intangible assets
1,091
1,192
Other assets (included $8,603 and $11,909 at fair value and assets pledged of $1,219 and $1,399)
101,469
102,597
Total assets(a)
Liabilities
Deposits (included $11,485 and $8,807 at fair value)
Federal funds purchased and securities loaned or sold under repurchase agreements (included $3,586 and
$2,979 at fair value)
Commercial paper
Other borrowed funds (included $13,987 and $14,739 at fair value)
Trading liabilities
Accounts payable and other liabilities (included $23 and $26 at fair value)
Beneficial interests issued by consolidated variable interest entities (included $1,330 and $2,162 at fair value)
Long-term debt (included $31,316 and $30,226 at fair value)
Total liabilities(a)
$
2,449,599
$
2,572,773
$
1,287,332
$
1,363,427
Commitments and contingencies (see Notes 21 and 23)
Stockholders’ equity
Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,491,750 and 2,006,250 shares)
Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares)
Additional paid-in capital
Retained earnings
Accumulated other comprehensive income
Shares held in RSU Trust, at cost (472,953 shares)
Treasury stock, at cost (406,866,534 and 390,144,630 shares)
Total stockholders’ equity
180,897
192,101
42,238
30,061
139,422
191,749
50,002
286,693
2,208,394
66,344
30,222
152,815
206,939
52,362
276,836
2,341,046
24,918
4,105
92,204
138,294
1,102
(21)
(19,397)
241,205
Total liabilities and stockholders’ equity
$
2,449,599
20,063
4,105
93,270
129,977
2,189
(21)
(17,856)
231,727
$
2,572,773
(a) The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at June 30, 2015, and December 31, 2014. The
difference between total VIE assets and liabilities represents the Firm’s interests in those entities, which were eliminated in consolidation.
Jun 30, 2015
(in millions)
Assets
Trading assets
Loans
All other assets
Total assets
Liabilities
Beneficial interests issued by consolidated variable interest entities
All other liabilities
Total liabilities
$
$
$
$
5,168
67,116
2,274
74,558
50,002
868
50,870
Dec 31, 2014
$
$
$
$
9,090
68,880
1,815
79,785
52,362
949
53,311
The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests do not have recourse to the general credit
of JPMorgan Chase. At both June 30, 2015, and December 31, 2014, the Firm provided limited program-wide credit enhancement of $2.0 billion related to its Firmadministered multi-seller conduits, which are eliminated in consolidation. For further discussion, see Note 15.
- 26 -
ジェー・ピー・モルガン・チェース・アンド・カンパニー
連結損益計算書
1月1日から6月30日まで
2015
2014
(単位：百万ドル)
収益
投資銀行業務関連の収益
自己勘定取引
貸出金及び預金関連収益
資産運用、管理及び手数料
有価証券利益
モーゲージ報酬及び関連利益
カード収益
その他の収益
$
3,627
6,489
2,781
7,822
96
1,488
3,046
1,168
$
3,171
6,230
2,868
7,843
42
1,805
2,957
1,512
利息以外の収益
26,517
26,428
受入利息
支払利息
25,079
3,718
25,654
4,189
正味受入利息
21,361
21,465
収益合計（純額）
47,878
47,893
1,894
1,542
利息以外の費用
報酬費用
不動産関連費用
テクノロジー、通信及び機器関連費用
専門家報酬及び外部業務委託費用
マーケティング費用
その他の費用
15,737
1,856
2,990
3,402
1,233
4,165
15,469
1,925
2,844
3,718
1,214
4,897
利息以外の費用合計
29,383
30,067
法人所得税控除前利益
法人所得税
16,601
4,397
16,284
5,035
信用損失引当金繰入額
当期純利益
$
- 27 -
12,204
$
11,249
ジェー・ピー・モルガン・チェース・アンド・カンパニー
連結貸借対照表
2015年6月30日
(単位：百万ドル)
資産
現金及び無利息銀行預け金
有利息銀行預け金
フェデラル・ファンド貸出金及び売戻条件付買入有価証券
借入有価証券
トレーディング資産
有価証券
貸出金
貸倒引当金
$
貸倒引当金控除後貸出金
未収利息及び未収入金
土地・建物及び設備
のれん
モーゲージ・サービシング権
その他の無形固定資産
その他の資産
24,095
398,807
212,850
98,528
377,870
317,795
791,247
(13,915)
2014年12月31日
$
777,332
69,642
15,073
47,476
7,571
1,091
101,469
資産合計
負債
預金
フェデラル・ファンド借入金及び買戻条件付貸付又は売却有価証券
コマーシャル・ペーパー
その他の借入金
トレーディング負債
未払金及びその他の負債
連結変動持分事業体により発行された受益権
長期社債
27,831
484,477
215,803
110,435
398,988
348,004
757,336
(14,185)
743,151
70,079
15,133
47,647
7,436
1,192
102,597
$
2,449,599
$
2,572,773
$
1,287,332
180,897
42,238
30,061
139,422
191,749
50,002
286,693
$
1,363,427
192,101
66,344
30,222
152,815
206,939
52,362
276,836
負債合計
2,208,394
2,341,046
株主持分
優先株式：額面1ドル
普通株式：額面1ドル
資本剰余金
利益剰余金
その他の包括利益累計額
RSUトラストが保有する株式（取得原価）
自己株式（取得原価）
24,918
4,105
92,204
138,294
1,102
(21)
(19,397)
20,063
4,105
93,270
129,977
2,189
(21)
(17,856)
株主持分合計
241,205
231,727
負債及び株主持分合計
$
- 28 -
2,449,599
$
2,572,773