San in Godo Bank : Consolidated Financial Results for the Fiscal Year Ended March 31,2024

Note: This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results

for the Fiscal Year Ended March 31, 2024

[Japanese GAAP]

Company name: The San-in Godo Bank,Ltd.							May 13, 2024
Stock exchange listing: Tokyo
Code number: 8381
URL: https://www.gogin.co.jp
Representative: Toru Yamasaki,	President
Contact: Tsuyoshi Takahashi,	Executive Officer ,General Manager ,Management Planning Dept.
Phone: [phone]
Scheduled date of Annual General Meeting of Shareholders: June 20, 2024
Scheduled date of commencing dividend payments: June 21, 2024
Scheduled date of filing annual securities report: June 21, 2024
Trading Accounts: No
Availability of supplementary briefing material on annual financial results: Yes
Schedule of annual financial results briefing session: Yes (For Institutional Investors and Analysts)
						(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2024 (April 1, 2023 to March 31, 2024)
(1) Consolidated Operating Results			(% indicates changes from the previous corresponding period.)
		Ordinary revenues			Ordinary profit			Profit attributable to owners of
						parent
Fiscal year ended		Millions of yen		%		Millions of yen		%		Millions of yen	%
March 31, 2024		120,176		6.6		24,727		13.8		16,800	8.6
March 31, 2023		112,683		18.4		21,722		4.4		15,463	6.7

(Note) Comprehensive income:	Fiscal year ended March 31, 2024:
	Fiscal year ended March 31, 2023:

¥	18,217 million	[	-%]
¥	(32,798) million	[	-%]

	Basic earnings per	Diluted earnings per	Rate of return on	Ordinary profit to	Ordinary profit to
	ordinary revenues
	share	share	equity	total assets ratio
	ratio
Fiscal year ended	Yen	Yen	%	%	%
March 31, 2024	109.28	109.24	5.2	0.3	20.5
March 31, 2023	99.28	99.18	4.6	0.3	19.2

(Reference) Equity in earnings (losses) of affiliated companies: Fiscal year ended March 31, 2024: Fiscal year ended March 31, 2023:

(2) Consolidated Financial Position

• - million
• - million

	Total assets	Net assets	Net assets ratio	Net assets per share
As of	Millions of yen	Millions of yen	%	Yen
March 31, 2024	7,360,564		325,089	4.4	2,114.72
March 31, 2023	6,877,489		313,208	4.5	2,023.95
(Reference) Equity: As of	March 31, 2024:	¥	324,584 million
As of	March 31, 2023:	¥	312,649 million
(Note) Net assets ratio = (Net assets - Share acquisition rights - Non-controlling interests) / Total assets
(3) Consolidated Cash Flows
	Cash flows from	Cash flows from	Cash flows from	Cash and cash
	equivalents at the end
	operating activities	investing activities	financing activities
	of period
Fiscal year ended	Millions of yen	Millions of yen	Millions of yen	Millions of yen
March 31, 2024	63,473		8,302	(6,425)	884,996
March 31, 2023	(256,547)		309,655	(6,960)	819,646

2. Dividends

		Annual dividends				Payout	Dividends
				Total	to net
							ratio
	1st	2nd	3rd		Year-end	Total	dividends	assets
		(consolidated)
	quarter-end	quarter-end	quarter-end			(consolidated)
Fiscal year ended	Yen	Yen	Yen		Yen	Yen	Millions of yen	%	%
March 31, 2023	-	17.00	-		17.00	34.00	5,309	34.2	1.5
March 31, 2024	-	18.00	-		21.00	39.00	6,020	35.6	1.8
Fiscal year ending	-	24.00	-		24.00	48.00		40.4
March31,2025(Forecast)

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2025 (April 1, 2024 to March 31, 2025)

(% indicates changes from the previous corresponding period.)

	Ordinary revenues	Ordinary profit		Profit attributable to	Basic earnings per
		owners of parent	share
Six months ending	Millions of yen	%	Millions of yen		%	Millions of yen	%	Yen
59,700	3.6	11,300		13.6	7,800	17.7	50.81
September 30, 2024
Full year	121,600	1.1	26,400		6.7	18,200	8.3	118.57

* Notes:

1. Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes in scope of consolidation): No
2. Changes in accounting policies, changes in accounting estimates and retrospective restatements
3. 1. Changes in accounting policies due to the revision of accounting standards: No
   2. Changes in accounting policies other than 1) above: No
   3. Changes in accounting estimates: No
   4. Retrospective restatements: No
4. Total number of issued shares (common shares)
5. 1. Total number of issued shares at the end of the period (including treasury shares):

March 31, 2024:	156,977,472	shares
March 31, 2023:	156,977,472	shares
2) Number of treasury shares at the end of the period:
March 31, 2024:	3,489,463	shares
March 31, 2023:	2,502,655	shares

3) Average number of shares during the period:
Fiscal Year ended March 31, 2024:	153,727,489	shares
Fiscal Year ended March 31, 2023:	155,758,054	shares

(Notes) The period-end treasury stock includes the Bank's shares held by a trust account for Board Benefit Trust (BBT)(891,300 shares as of March 31, 2024 and 1,019,200 shares as of March 31, 2023 ).

The treasury stock deducted to calculate the average number of outstanding shares includes the Bank's shares held by the trust account (931,487 shares as of March 31, 2024 and 735,867 shares as of March 31, 2023 ).

(Reference) Non-consolidated Financial Highlights
1. Non-consolidated Financial Highlights (April 1, 2023 to March 31, 2024)
(1) Non-consolidated Operating Results				(% indicates changes from the previous corresponding period.)
	Ordinary revenues				Ordinary profit					Net income
Fiscal year ended	Millions of yen			%			Millions of yen		%			Millions of yen		%
March 31, 2024	101,821			5.6			22,955		9.2				15,975		10.0
March 31, 2023	96,343			22.9			21,017		3.2				14,517		2.0
	Basic earnings per share		Diluted earnings per share
Fiscal year ended				Yen					Yen
March 31, 2024				103.92					103.87
March 31, 2023				93.20					93.11
(2) Non-consolidated Financial Position
	Total assets		Net assets		Net assets ratio		Net assets per share
As of	Millions of yen				Millions of yen						%			Yen
March 31, 2024	7,333,169					307,125						4.1			2,000.77
March 31, 2023	6,850,754					297,128						4.3			1,922.80
(Reference) Equity: As of	March 31, 2024:	¥	307,095 million
As of	March 31, 2023:	¥	297,024 million

(Note) Net assets ratio = (Net assets - Share acquisition rights) / Total assets

2. Non-Consolidated Earnings Projections for the Fiscal Year Ending March 31, 2025(April 1, 2024 to March 31, 2025)

(% indicates changes from the previous corresponding period.)

	Ordinary revenues	Ordinary profit		Net income		Basic earnings per
			share
Six months ending	Millions of yen	%	Millions of yen		%	Millions of yen		%	Yen
50,100	4.3	11,000		27.3	7,600		21.8	49.51
September 30, 2024
Full year	103,300	1.4	25,700		11.9	17,800		11.4	115.96

• This report is out of the scope of the audit by certified public accountants or independent audit firms.
• Proper use of financial results, forecasts and other notes

The forecasts above are based on information available to the Bank as of the date of this publication.

Accordingly, actual results may differ significantly from those forecasts due to various factors.

	The San-in Godo Bank,Ltd.
Table of Contents
Consolidated Financial Statements	2
Consolidated Balance Sheets	2
Consolidated Statements of Income and Comprehensive Income	4
Consolidated Statements of Income	4
Consolidated Statements of Comprehensive Income	5
Consolidated Statements of Changes in Net Assets	6
For the fiscal year ended March 31, 2023	6
For the fiscal year ended March 31, 2024	7
Consolidated Statements of Cash Flows	8
Consolidated Statements of Cash Flows	8
Non-Consolidated Financial Statements	10
Non-Consolidated Balance Sheets	10
Non-Consolidated Statements of Income	13
Non-Consolidated Statements of Changes in Net Assets	15
For the fiscal year ended March 31, 2023	15
For the fiscal year ended March 31, 2024	17
Supplementary Information	19
Financial Data	19
Net Holding Gains (Losses) on Securities	20
Disclosed Assets Based on the Financial Reconstruction Act and Risk managed loans	21
Classification of Loans and Bills Discounted by Types of Industry (Non-Consolidated)	23
Projections for the Year Ending March 31, 2025	24

1

			The San-in Godo Bank,Ltd.
Consolidated Financial Statements
Consolidated Balance Sheets
			(Millions of yen)
		As of March 31, 2023	As of March 31, 2024
Assets
	Cash and due from banks	820,839	886,423
	Call loans and bills bought	3,271	4,012
	Monetary claims bought	13,159	13,889
	Money held in trust	4,988	4,993
	Securities	1,562,511	1,558,741
	Loans and bills discounted	4,322,918	4,744,248
	Foreign exchanges	4,768	2,485
	Lease receivables and investment assets	28,179	28,155
	Other assets	66,333	67,907
	Property, plant and equipment	34,701	34,326
	Buildings, net	11,263	10,807
	Land	20,028	19,910
	Construction in progress	-	11
	Other tangible fixed assets	3,409	3,596
	Intangible assets	3,854	3,320
	Software	3,593	2,974
	Goodwill	-	85
	Other intangible fixed assets	261	260
	Retirement benefit asset	4,150	8,411
	Deferred tax assets	35,521	34,614
	Customers' liabilities for acceptances and guarantees	13,334	12,779
	Allowance for loan losses	(40,886)	(43,612)
	Allowance for investment loss	(156)	(134)
	Total assets	6,877,489	7,360,564
Liabilities
	Deposits	5,508,349	5,923,978
	Negotiable certificates of deposit	138,957	306,743
	Call money and bills sold	98,812	44,665
	Cash collateral received for securities lent	106,426	92,129
	Borrowed money	586,637	563,602
	Foreign exchanges	7	41
	Other liabilities	97,394	78,393
	Provision for bonuses	957	948
	Retirement benefit liability	9,147	8,706
	Provision for stocks payment	414	418
	Provision for retirement benefits for directors (and	58	77
	other officers)
	Provision for reimbursement of deposits	252	168
	Provision for contingencies	804	785
	Deferred tax liabilities	674	20
	Deferred tax liabilities for land revaluation	2,050	2,015
	Acceptances and guarantees	13,334	12,779
	Total liabilities	6,564,281	7,035,474

2

		The San-in Godo Bank,Ltd.
		(Millions of yen)
	As of March 31, 2023	As of March 31, 2024
Net assets
Share capital	20,705	20,705
Capital surplus	22,058	22,058
Retained earnings	310,618	322,070
Treasury shares	(1,847)	(2,679)
Total shareholders' equity	351,535	362,155
Valuation difference on available-for-sale securities	(36,842)	(42,381)
Deferred gains or losses on hedges	(3,020)	1,434
Revaluation reserve for land	2,331	2,251
Remeasurements of defined benefit plans	(1,354)	1,125
Total accumulated other comprehensive income	(38,886)	(37,570)
Share acquisition rights	103	30
Non-controlling interests	455	475
Total net assets	313,208	325,089
Total liabilities and net assets	6,877,489	7,360,564

3

The San-in Godo Bank,Ltd.

Consolidated Statements of Income and Comprehensive Income

Consolidated Statements of Income

			(Millions of yen)
		For the fiscal year	For the fiscal year
		ended March 31, 2023	ended March 31, 2024
Ordinary income	112,683	120,176
Interest income	66,644	76,086
	Interest on loans and discounts	42,826	51,819
	Interest and dividends on securities	19,918	20,757
	Interest on call loans and bills bought	26	137
	Interest on deposits with banks	1,416	1,402
	Other interest income	2,456	1,968
Fees and commissions	15,073	17,262
Other ordinary income	24,641	19,238
Other income	6,323	7,589
	Recoveries of written off receivables	0	0
	Other	6,323	7,589
Ordinary expenses	90,961	95,449
Interest expenses	4,978	6,517
	Interest on deposits	850	1,218
	Interest on negotiable certificates of deposit	7	14
	Interest on call money and bills sold	2,637	2,759
	Interest expenses on cash collateral received for	1,132	1,550
	securities lent
	Interest on borrowings and rediscounts	41	37
	Other interest expenses	309	936
Fees and commissions payments	4,372	4,663
Other ordinary expenses	38,855	35,374
General and administrative expenses	39,576	40,573
Other expenses	3,177	8,320
	Provision of allowance for loan losses	1,856	5,337
	Other	1,321	2,982
Ordinary profit	21,722	24,727
Extraordinary income	893	251
Gain on disposal of non-current assets	138	232
Gain on bargain purchase	746	-
Gain on step acquisitions	8	19
Extraordinary losses	727	308
Loss on disposal of non-current assets	121	75
Impairment losses	606	233
Profit before income taxes	21,888	24,669
Income taxes - current	5,342	8,149
Income taxes - deferred	1,108	(291)
Total income taxes	6,450	7,857
Profit	15,437	16,812
Profit (loss) attributable to non-controlling interests	(25)	11
Profit attributable to owners of parent	15,463	16,800

4

			The San-in Godo Bank,Ltd.
Consolidated Statements of Comprehensive Income
			(Millions of yen)
		For the fiscal year	For the fiscal year
		ended March 31, 2023	ended March 31, 2024
Profit	15,437	16,812
Other comprehensive income
	Valuation difference on available-for-sale securities	(43,988)	(5,528)
	Deferred gains or losses on hedges	(5,708)	4,454
	Remeasurements of defined benefit plans, net of tax	1,460	2,479
	Total other comprehensive income	(48,236)	1,405
Comprehensive income	(32,798)	18,217
Comprehensive income attributable to
	Comprehensive income attributable to owners of	(32,764)	18,196
	parent
	Comprehensive income attributable to non-controlling	(34)	21
	interests

5

The San-in Godo Bank,Ltd.

Consolidated Statements of Changes in Net Assets

For the fiscal year ended March 31, 2023

					(Millions of yen)
			Shareholders' equity
		Share	Capital	Retained	Treasury			Total
		shareholders'
		capital	surplus	earnings	shares
			equity
Balance at beginning		20,705	22,058	301,096	(643)			343,217
of period
Changes during
period
Dividends of				(5,958)				(5,958)
surplus
Profit attributable to				15,463				15,463
owners of parent
Purchase of					(1,302)			(1,302)
treasury shares
Disposal of treasury				(0)	98			97
shares
Reversal of
revaluation reserve				16				16
for land
Net changes in
items other than
shareholders' equity
Total changes		-	-	9,522	(1,203)			8,318
during period
Balance at end of		20,705	22,058	310,618	(1,847)			351,535
period
			Accumulated other comprehensive income
		Valuation						Total	Share	Non-
		difference	Deferred					Total net
		Revaluation	Remeasurements	accumulated	acquisition	controlling
		on	gains or
		reserve for	of defined benefit	other	rights	interests	assets
		available-	losses on
		land	plans			comprehensive
		for-sale	hedges
						income
		securities
Balance at beginning of	7,137	2,688	2,348	(2,814)	9,358	123	491	353,191
period
Changes during period
Dividends of surplus											(5,958)
Profit attributable to											15,463
owners of parent
Purchase of treasury											(1,302)
shares
Disposal of treasury											97
shares
Reversal of
revaluation reserve for											16
land
Net changes in items
other than	(43,980)	(5,708)	(16)	1,460		(48,244)	(19)	(36)	(48,300)
shareholders' equity
Total changes during	(43,980)	(5,708)	(16)	1,460		(48,244)	(19)	(36)	(39,982)
period
Balance at end of period	(36,842)	(3,020)	2,331	(1,354)	(38,886)	103	455	313,208

6

The San-in Godo Bank,Ltd.

For the fiscal year ended March 31, 2024

					(Millions of yen)
			Shareholders' equity
		Share	Capital	Retained	Treasury			Total
		shareholders'
		capital	surplus	earnings	shares
			equity
Balance at beginning		20,705	22,058	310,618	(1,847)			351,535
of period
Changes during
period
Dividends of				(5,422)				(5,422)
surplus
Profit attributable to				16,800				16,800
owners of parent
Purchase of					(1,001)			(1,001)
treasury shares
Disposal of treasury				(6)	169			162
shares
Reversal of
revaluation reserve				80				80
for land
Net changes in
items other than
shareholders' equity
Total changes		-	-	11,451	(831)			10,619
during period
Balance at end of		20,705	22,058	322,070	(2,679)			362,155
period
			Accumulated other comprehensive income
		Valuation						Total	Share	Non-
		difference	Deferred					Total net
		Revaluation	Remeasurements	accumulated	acquisition	controlling
		on	gains or
		reserve for	of defined benefit	other	rights	interests	assets
		available-	losses on
		land	plans			comprehensive
		for-sale	hedges
						income
		securities
Balance at beginning of	(36,842)	(3,020)	2,331	(1,354)	(38,886)	103	455	313,208
period
Changes during period
Dividends of surplus											(5,422)
Profit attributable to											16,800
owners of parent
Purchase of treasury											(1,001)
shares
Disposal of treasury											162
shares
Reversal of
revaluation reserve for											80
land
Net changes in items
other than	(5,538)	4,454	(80)	2,479		1,315	(73)	19	1,261
shareholders' equity
Total changes during	(5,538)	4,454	(80)	2,479		1,315	(73)	19	11,881
period
Balance at end of period	(42,381)	1,434	2,251	1,125		(37,570)	30	475	325,089

7