Chiba Kogyo Bank : （Delayed）Summary of Consolidated Financial Results for the Year Ended March 31, 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 Year Ended March 31, 2021

(Based on Japanese GAAP)

May 14, 2021

Company name:

The Chiba Kogyo Bank, Ltd.

Stock exchange listing:

Tokyo

Stock code:

8337

URL

https://www.chibakogyo-bank.co.jp/

Representative:

President (CEO) Managing Executive Officer Hitoshi Umeda

Inquiries:

General Manager of Management Planning

Hiroshi Tanaka

TEL [phone]

Division

Scheduled date of ordinary general meeting of shareholders:

June 25, 2021

Scheduled date to file Securities Report:

June 25, 2021

Scheduled date to commence dividend payments:

June 28, 2021

Trading accounts:

No

Preparation of supplementary material on financial results:

Yes

Holding of financial results meeting:

Yes

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the year ended March 31, 2021 (from April 1, 2020 to March 31, 2021)

(1) Consolidated operating results

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

%

Year ended March 31, 2021

49,986

(0.8)

7,224

7.4

4,763

5.1

Year ended March 31, 2020

50,391

(0.8)

6,725

(19.3)

4,530

(12.6)

Year ended March 31, 2019

50,831

0.6

8,335

(12.1)

5,183

(23.4)

（Note）Comprehensive income	Fiscal Year 2020: ¥16,770 million [(－％)]	Fiscal Year 2019: ¥(1,717)million[(－％)]
	Earnings per share	Diluted earnings per		Profit attributable to	Ordinary profit/total	Ordinary
	share		owners of	assets		profit/ordinary
			parent/equity		income
	Yen	Yen		%		%	%
Year ended March 31, 2021	57.34	17.56		3.1		0.2	14.4
Year ended March 31, 2020	51.75	20.27		3.0		0.2	13.3
（Reference）Share of loss (profit) of entities accounted for using equity method	Fiscal Year 2020: ¥－	Fiscal Year 2019 : ¥－

（Note）"Profit attributable to owners of parent/equity" is calculated by dividing "(Profit attributable to owners of parent - Total dividends paid to preferred shareholders)" by "{(Equity at beginning of period - Number of issued shares of preferred stock at beginning of period x Issue value) + (Equity at end of period - Number of issued shares of preferred stock at end of period x Issue value)} ÷ 2."

(2) Consolidated financial position

	Total assets	Net assets	Equity ratio	Net assets per share
	Millions of yen	Millions of yen		%	Yen
As of March 31, 2021	3,248,236	182,491		5.5	1,938.72
As of March 31, 2020	2,851,390	166,892		5.7	1,687.69
（Reference）Capital assets		Fiscal Year 2020: ¥178,761 million	Fiscal Year 2019: ¥163,486million

（Note）"Equity ratio" is calculated by dividing "(Total net assets at end of period - Share acquisition rights at end of period - Non-controlling interests at end of period)" by "Total assets at end of period." Note that this "Equity ratio" is not the equity ratio provided for in the notice of equity ratio.

(3) Consolidated cash flows

	Cash flows from	Cash flows from	Cash flows from	Cash and cash equivalents
	operating activities	investing activities	financing activities	at end of period
	Millions of yen	Millions of yen	Millions of yen	Millions of yen
Year ended March 31, 2021	256,027	(28,049)	(1,261)	359,075
Year ended March 31, 2020	(17,954)	6,526	(3,998)	132,233

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2. Cash dividends

		Annual dividends per share		Total cash	Dividend payout	Ratio of dividends
						to net assets
	1st quarter-end	2nd quarter-end	3rd quarter-end	Fiscal year-end	Total	dividends (Total)	ratio (Consolidated)	(Consolidated)
	Yen	Yen	Yen	Yen	Yen	Millions of yen	%	%
Year ended March 31, 2020	-	0.00	-	3.00	3.00	177	5.7	0.1
Year ended March 31, 2021	-	0.00	-	3.00	3.00	177	5.2	0.1
Year ending March 31, 2022	-	0.00	-	3.00	3.00		4.0
(Forecast)

（Note）The above-mentioned "Cash dividends" refers to the status of dividends on common shares. For information on the status of dividends on class shares (unlisted) issued by the Bank with different relationship of interest from the common shares, see "Cash dividends on class shares" on page 3.

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
Six months ending	3,400	18.3	2,900	27.5	48.95
September 30, 2021
Full year	7,800	7.9	5,800	21.7	74.67
4. Notes
(1) Changes in significant subsidiaries during the year ended March 31, 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:	No
Changes in accounting policies due to other reasons:	No
Changes in accounting estimates:	Yes
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 March 31, 2021	62,222,045	shares	As of March 31, 2020	62,222,045	shares
Number of treasury shares at the end of the period
	As of March 31, 2021	2,977,701	shares	As of March 31, 2020	3,010,604	shares
Average number of shares during the period
	Year ended March 31, 2021	59,236,769	shares	Year ended March 31, 2020	60,761,850	shares

※This financial results report is not subject to auditing by certified public accountants or an audit corporation.

※Explanation of appropriate use of earnings forecasts and other items warranting special mention

Forward-looking statements in this document, including the earnings forecasts, are based on the information currently available to the Bank and on certain assumptions deemed to be reasonable by the Bank. These statements do not purport that the Bank pledges to achieve such results. Actual results, etc. may differ materially from the forecasts depending on various factors. Some important factors that may have an effect on business performance pertain to domestic and international economic conditions and stock market fluctuations, but factors influencing business performance are not limited to those.

※Information on the Financial Results Meeting

The Financial Results Meeting for the fiscal year ended March 31, 2021 will be streamed online on an on-demand basis.

You will be able to watch the Financial Results Meeting from our website any time after Monday, June 7, 2021. URL https://www.chibakogyo-bank.co.jp/toushi/ir/setsumeikai.html

2

「Cash dividends on class shares」

The following provides a breakdown of the dividends per share related to class shares with different relationship of interest from the common shares.

Class 2 Preferred Stock		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, 2020	-	-	-	104.00	104.00
Year ended March 31, 2021	-	-	-	104.00	104.00
Year ending March 31, 2022(Forecast)				104.00	104.00
First Series of Class 6 Preferred Stock		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, 2020	-	-	-	550.00	550.00
Year ended March 31, 2021	-	-	-	550.00	550.00
Year ending March 31, 2022(Forecast)				550.00	550.00
First Series of Class 7 Preferred Stock		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, 2020	-	-	-	900.00	900.00
Year ended March 31, 2021	-	-	-	900.00	900.00
Year ending March 31, 2022(Forecast)				900.00	900.00
Second Series of Class 7 Preferred Stock		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	-	-	-	7,101.00	7,101.00
Year ending March 31, 2022(Forecast)				9,000.00	9,000.00

3

Consolidated financial statements

Consolidated balance sheets

(Millions of yen)

科目	As of March	As of March
(Japanese)	31, 2020	31, 2021

Assets

Cash and due from banks Monetary claims bought Trading account securities Securities

Loans and bills discounted Foreign exchanges Other assets

Tangible fixed assets Buildings, net Land

Leased assets, net

Other tangible fixed assets Intangible fixed assets

Software Leased assets

Other intangible fixed assets Deferred tax assets

Customers' liabilities for acceptances and guarantees Allowance for loan losses

Total assets Liabilities

Deposits

Negotiable certificates of deposit Call money and bills sold

Payables under securities lending transactions Borrowed money

Foreign exchanges Other liabilities Retirement benefit liability

Provision for retirement benefits for directors (and other officers)

Provision for reimbursement of deposits Deferred tax liabilities

Acceptances and guarantees Total liabilities

Net assets Share capital Capital surplus Retained earnings Treasury shares

Total shareholders' equity

Valuation difference on available-for-sale securities Remeasurements of defined benefit plans

Total accumulated other comprehensive income Share acquisition rights

Non-controlling interests Total net assets

Total liabilities and net assets

（資産の部） 現金預け金 買入金銭債権 商品有価証券 有価証券

貸出金

外国為替 その他資産 有形固定資産 建物

土地

リース資産

その他の有形固定資産 無形固定資産

ソフトウェア リース資産

その他の無形固定資産 繰延税金資産

支払承諾見返 貸倒引当金 資産の部合計 （負債の部） 預金

譲渡性預金

コールマネー及び売渡手形 債券貸借取引受入担保金 借用金

外国為替 その他負債

退職給付に係る負債

役員退職慰労引当金

睡眠預金払戻損失引当金 繰延税金負債

支払承諾

負債の部合計 （純資産の部） 資本金

資本剰余金 利益剰余金 自己株式

株主資本合計

その他有価証券評価差額金 退職給付に係る調整累計額 その他の包括利益累計額合計 新株予約権

非支配株主持分 純資産の部合計

負債及び純資産の部合計

132,574	359,415
97	97

110132

487,853 528,844

2,156,861	2,295,318
5,288	3,377
41,997	39,691
20,628	20,186
6,712	6,380
12,144	12,048
62	63
1,707	1,694
2,920	3,212
2,471	2,824
59	4

388383

3,978505

7,127 6,193

(8,046) (8,737)

2,851,390 3,248,236

2,547,017	2,768,896
68,000	108,500
4,353	-
4,589	4,638
21,490	145,202
56	43
22,823	23,741
8,356	5,446
63	58
483	295
134	2,729
7,127	6,193
2,684,497	3,065,745

62,120 62,120

15,802 16,172

80,413 83,613

1. (937)
   157,388 160,969
   8,661 18,720
   (2,563) (928)

6,097	17,792
83	94
3,323	3,635
166,892	182,491
2,851,390	3,248,236

4

Consolidated statements of income and consolidated statements of comprehensive income Consolidated statements of income

(Millions of yen)

		Fiscal year	Fiscal year
	科目	ended	ended
	（Japanese）	March 31,	March 31,
		2020	2021
Ordinary income	経常収益	50,391	49,986
Interest income	資金運用収益	28,641	27,205
Interest on loans and discounts	貸出金利息	21,504	21,783
Interest and dividends on securities	有価証券利息配当金	6,778	5,123
Interest on call loans and bills bought	コールローン利息及び	1	(0)
買入手形利息
Interest on deposits with banks	預け金利息	98	155
Other interest income	その他の受入利息	258	143
Fees and commissions	役務取引等収益	9,819	10,833
Other ordinary income	その他業務収益	1,001	535
Other income	その他経常利益	10,929	11,411
Reversal of allowance for loan losses	貸倒引当金戻入益	545	-
Recoveries of written off receivables	償却債権取立益	1,216	655
Other	その他の経常収益	9,167	10,755
Ordinary expenses	経常費用	43,666	42,761
Interest expenses	資金調達費用	715	441
Interest on deposits	預金利息	312	257
Interest on negotiable certificates of deposit	譲渡性預金利息	7	4
Interest on call money and bills sold	コールマネー利息及び	80	14

売渡手形利息

Interest on payables under securities lending transactions

Interest on borrowings and rediscounts Other interest expenses

Fees and commissions payments Other ordinary expenses

General and administrative expenses Other expenses

Provision of allowance for loan losses Other

Ordinary profit Extraordinary losses

Loss on disposal of non-current assets Impairment loss

Profit before income taxes

Income taxes - current

Income taxes - deferred

Total income taxes

Profit

Profit attributable to non-controlling interests

Profit attributable to owners of parent

債券貸借取引支払利息

借用金利息

その他の支払利息 役務取引等費用 その他業務費用 営業経費

その他経常費用 貸倒引当金繰入額 その他の経常費用 経常利益

特別損失

固定資産処分損 減損損失

税金等調整前当期純利益 法人税、住民税及び

事業税

法人税等調整額 法人税等合計 当期純利益

非支配株主に帰属する 当期純利益

親会社株主に帰属する 当期純利益

127	26
184	136
2	1
4,032	3,901
1,211	524
26,020	25,743
11,686	12,151

• 1,884
  11,686 10,266

6,725	7,224
52	129
49	23
3	105
6,672	7,095
502	1,099
1,598	1,089
2,101	2,188
4,571	4,907
41	143
4,530	4,763

5