Keiyo Bank : (Delayed) Summary of Consolidated Financial Results for the Six Months Ended September 30, 2021

Translation

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

		Summary of Consolidated Financial Results
		for the Six Months Ended September 30, 2021
		(Based on Japanese GAAP)
		November 9, 2021
Company name:	The Keiyo Bank, Ltd.
Stock exchange listing:	Tokyo
Stock code:	8544	URL https://www.keiyobank.co.jp/
Representative:	President	Toshiyuki Kumagai

Inquiries:	General Manager of Accounting	Yukihiko Nezu	TEL [phone]
Corporate Planning Division
Scheduled date to file Quarterly Securities Report:	November 19, 2021
Scheduled date to commence dividend payments:	December 3, 2021
Trading accounts:		No
Preparation of supplementary material on quarterly financial results:	Yes
Holding of quarterly financial results meeting:	No

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the six months ended September 30, 2021 (from April 1, 2021 to September 30, 2021)

(1) Consolidated operating results (cumulative)							Percentages indicate year-on-year changes
	Ordinary income		Ordinary profit	Profit attributable to
		owners of parent
	Millions of yen		%	Millions of yen		%	Millions of yen		%
Six months ended September 30, 2021	32,849		2.7		9,172		46.1		6,432		52.1
Six months ended September 30, 2020	31,985		(7.7)		6,275		1.0		4,226		0.2
	Earnings per share	Diluted earnings per share
			Yen					Yen
Six months ended September 30, 2021			49.63					49.44
Six months ended September 30, 2020			32.36					32.25
(2) Consolidated financial position
	Total assets			Net assets		Equity ratio
	Millions of yen		Millions of yen				%
As of September 30, 2021	6,893,780		305,527				4.3
As of March 31, 2021	5,553,028		298,051				5.2
2. Cash dividends
					Annual dividends per share
	1st quarter-end	2nd quarter-end		3rd quarter-end	Fiscal year-end	Total
	Yen			Yen			Yen			Yen	Yen
Year ended March 31, 2021		-			9.00				-			10.00	19.00
Year ending March 31, 2022		-			10.00
Year ending March 31, 2022 (Forecast)									-			10.00	20.00

3. Forecast of consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)

Percentages indicate year-on-year changes

	Ordinary profit	Profit attributable to	Earnings per share
	owners of parent
	Millions of yen	%	Millions of yen	%	Yen
Full year	15,000	25.1	10,400	40.8	80.63

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4. Notes

(1)	Changes in significant subsidiaries during the six months ended September 30, 2021	No
	(changes in specified subsidiaries resulting in the change in scope of consolidation):
(2)	Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
	Changes in accounting policies due to revisions to accounting standards and other regulations:	Yes
	Changes in accounting policies due to other reasons:	No
	Changes in accounting estimates:	No
	Restatement of prior period financial statements:	No

(3) Number of issued shares (common shares)

Total number of issued shares at the end of the period (including treasury shares)

	As of September 30, 2021	138,927,858	shares	As of March 31, 2021	138,927,858	shares
Number of treasury shares at the end of the period
	As of September 30, 2021	10,555,557	shares	As of March 31, 2021	8,265,010	shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
	Six months ended September 30, 2021	129,590,633	shares	Six months ended September 30, 2020	130,599,790	shares

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Consolidated financial statements

Consolidated balance sheets

			(Millions of yen)
		As of March 31, 2021	As of September 30, 2021
Assets
Cash and due from banks	514,412	1,781,409
Call loans and bills bought	-	2,070
Trading securities	3,656	3,736
Money held in trust	2,954	3,020
Securities	1,047,334	1,161,788
Loans and bills discounted	3,875,818	3,835,472
Foreign exchanges	7,739	7,696
Other assets	41,022	40,159
Tangible fixed assets	59,477	58,327
Intangible fixed assets	7,886	8,397
Retirement benefit asset	1,970	2,319
Deferred tax assets	3,197	1,912
Customers' liabilities for acceptances and guarantees	3,203	3,231
Allowance for loan losses	(15,643)	(15,761)
Total assets	5,553,028	6,893,780
Liabilities
Deposits	4,926,199	5,007,581
Negotiable certificates of deposit	85,874	131,274
Call money and bills sold	-	130,000
Cash collateral received for securities lent	-	470,364
Borrowed money	216,600	822,900
Foreign exchanges	165	119
Other liabilities	14,569	14,445
Provision for bonuses	1,314	1,280
Provision for bonuses for directors (and other officers)	60	26
Retirement benefit liability	284	457
Provision for retirement benefits for directors (and other	5	4
officers)
Provision for share awards	-	20
Provision for loss on interest repayment	2	1
Provision for reimbursement of deposits	589	526
Provision for contingent loss	1,023	894
Deferred tax liabilities	515	552
Deferred tax liabilities for land revaluation	4,570	4,570
Acceptances and guarantees	3,203	3,231
Total liabilities	5,254,977	6,588,252
Net assets
Share capital	49,759	49,759
Capital surplus	39,704	39,704
Retained earnings	177,123	182,244
Treasury shares	(8,301)	(9,280)
Total shareholders' equity	258,286	262,427
Valuation difference on available-for-sale securities	27,015	30,303
Revaluation reserve for land	7,040	7,040
Remeasurements of defined benefit plans	451	414
Total accumulated other comprehensive income	34,507	37,758
Share acquisition rights	312	317
Non-controlling interests	4,944	5,023
Total net assets	298,051	305,527
Total liabilities and net assets		5,553,028	6,893,780

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Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Consolidated statements of income (cumulative)

		(Millions of yen)
	Six months ended	Six months ended
	September 30, 2020	September 30, 2021
Ordinary income	31,985	32,849
Interest income	24,147	24,291
Interest on loans and discounts	18,046	17,866
Interest and dividends on securities	5,854	6,059
Fees and commissions	5,135	6,808
Other ordinary income	641	417
Other income	2,060	1,331
Ordinary expenses	25,709	23,676
Interest expenses	399	330
Interest on deposits	182	112
Fees and commissions payments	2,841	2,974
Other ordinary expenses	411	380
General and administrative expenses	18,355	17,787
Other expenses	3,701	2,203
Ordinary profit	6,275	9,172
Extraordinary income	-	18
Gain on disposal of non-current assets	-	18
Extraordinary losses	71	72
Loss on disposal of non-current assets	62	72
Impairment losses	8	-
Profit before income taxes	6,204	9,118
Income taxes - current	2,166	2,802
Income taxes - deferred	(294)	(135)
Total income taxes	1,872	2,666
Profit	4,331	6,452
Profit attributable to non-controlling interests	105	19
Profit attributable to owners of parent	4,226	6,432

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Consolidated statements of comprehensive income (cumulative)

		(Millions of yen)
	Six months ended	Six months ended
	September 30, 2020	September 30, 2021
Profit	4,331	6,452
Other comprehensive income	(682)	3,314
Valuation difference on available-for-sale securities	(903)	3,353
Remeasurements of defined benefit plans, net of tax	221	(38)
Comprehensive income	3,648	9,766
Comprehensive income attributable to
Comprehensive income attributable to owners of parent	3,396	9,683
Comprehensive income attributable to non-controlling	252	83
interests

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