Gunma Bank : Financial Results for the First Quarter of Fiscal Year 2022, ending March 31, 2023

August 2, 2022

The Gunma Bank, Ltd.

Financial Results for the First Quarter of Fiscal Year 2022, ending March 31, 2023

Stock Exchange Listing:	Tokyo(code:8334)
URL:	https://www.gunmabank.co.jp/
Representative:	Akihiko Fukai, President
For Inquiry:	Hideyuki Saito, Managing Executive Officer and General Manager,
		Corporate Planning Department
Filing date of Financial Statements:	August 3, 2022 (scheduled)
Trading Accounts:	No
Payment date of cash dividends:	－
Supplementary Materials :	Attached
IR Conference :	Not scheduled
			(Japanese yen amounts of less than 1 million have been rounded down.)
1. Consolidated Financial Highlights (from April 1, 2022 to June 30, 2022)
(1) Consolidated Operating Results			(％:Changes from corresponding period of the previous fiscal year)
		Ordinary Income		Ordinary Profit	Profit Attributable to
			Owners of Parent
Ｆｉｒｓｔ Quarter		million of yen		％		million of yen	％	million of yen		％
Ended Jun.30, 2022		46,031		2.8		11,932	(30.2)	8,612		(24.9)
Ended Jun.30, 2021		44,767		13.9		17,095	146.6	11,467		108.8
(Note) Comprehensive Income Ｆｉｒｓｔ Quarter ended Ｊｕｎ. 30, 2022: (18,754) million of yen [	― %]
Ｆｉｒｓｔ Quarter ended Ｊｕｎ. 30, 2021: 13,841	million of yen [(41.3)%]
		Profit per Share		Profit per Share (Diluted)
Ｆｉｒｓｔ Quarter				yen			yen
Ended Jun.30, 2022				20.97			―
Ended Jun.30, 2021				27.28			―
(2) Consolidated Financial Conditions
		Total Assets			Total Net Assets	Capital Assets to
				Total Assets
As of		million of yen		million of yen			％
Jun.30, 2022		10,296,231		507,626			4.9
Mar.31, 2022		11,148,539		529,256			4.7

(Reference) Capital assets as of	Jun. 30, 2022	: 507,626 million of yen;	Mar. 31, 2022 : 529,256 million of yen
(Note) "Capital Assets to Total Assets" represents	"Total Net Assets" ÷ "Total Assets" at term end.
"Capital Assets to Total Assets" stated above was not calculated based on the public notice of "Capital Assets to Total Assets".

2. Cash Dividends for Shareholders

		Annual Cash Dividends Per Share
	First	Second	Third	Fiscal	Total
	Quarter-end	Quarter-end	Quarter-end	Year-end
Fiscal year	yen	yen	yen	yen	yen
Ended Mar. 31, 2022	―	7.00	―	7.00	14.00
Ending Mar. 31, 2023	―
Ending Mar. 31, 2023(Projection)		8.00	―	8.00	16.00
(Note) Revisions of released cash dividends projections: No

3. Consolidated Earnings Projections for Fiscal year 2022	(from April 1, 2022 to March 31, 2023)
			(％:Changes from corresponding period of the previous fiscal year)
	Ordinary Profit		Profit Attributable to	Profit per Share
			Owners of Parent
	million of yen		％		million of yen	％	yen
Six Months endｉｎｇ Sep. 30, 2022	19,000	(19.6)		13,000	(15.4)	31.66
Fiscal Year endｉｎｇ Mar. 31, 2023	39,000		(0.3)		27,000	2.1	65.75

(Note) Revisions of released earnings projections: No

Notes

(1)	Material changes in consolidated subsidiaries during the period
	(changes in specific subsidiaries accompanied by changes in scope of consolidation):		No
(2)	Adoption of particular accounting methods for quarterly consolidated financial statements:		No
(3)	Changes in accounting principles, accounting estimates and restatement
	① Changes in accounting principles accordance with changes in accounting standard, etc.:		Yes
	② Other changes in accounting principles:			No
	③ Changes in accounting estimates:			No
	④ Restatement:			No
(4)	Number of issued shares (common stock)
	① Number of issued shares (including treasury shares):	Jun. 30, 2022	425,888,177	Shares
		Mar. 31, 2022	425,888,177	Shares
	② Number of treasury shares:	Jun. 30, 2022	15,224,683	Shares
		Mar. 31, 2022	15,224,436	Shares
	③ Average number of issued shares :	Three months ended Jun. 30, 2022	410,663,696	Shares
		Three months ended Jun. 30, 2021	420,339,647	Shares

This quarterly report is out of the scope of quarterly review by certified public accountants or independent audit firms.

Notes for using forecasts information, etc.

The description of future performance of this report is based on information which is presently available and certain assumptions which are considered to be reasonable, and it does not guarantee future performance. Please take note that future performance may differ from forecasts depending on various future factors.

The Gunma Bank, Ltd.

Financial Results for the 1st Quarter of FY 2022

Table of Contents

1. Qualitative Information

(1)	Qualitative Information related to the Results of Operations	･･････････････････････････････････	2
(2)	Qualitative Information related to the Financial Conditions	･･･････････････････････････････････	2
(3)	Qualitative Information related to the Consolidated Earnings Projections ･････････････････････	2

2. Quarterly Consolidated Financial Statements and Notes

(1)	Quarterly Consolidated Balance Sheets ･････････････････････････････････････････････････････	3
(2)	Quarterly Consolidated Statements of Income and Comprehensive Income ････････････････････	4
(3)	Notes to the Quarterly Consolidated Financial Statements ････････････････････････････････････	5
	(Notes on Going Concern Assumption) ･･････････････････････････････････････････････････････	5
	(Note on Significant Changes in The Amounts of Shareholders' Equity) ････････････････････････	5
	(Changes in Accounting Principles) ･･････････････････････････････････････････････････････････	5
	(Additional Information) ･････････････････････････････････････････････････････････････････････	5
Supplementary Information ･･･････････････････････････････････････････････････････････････	6

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The Gunma Bank, Ltd.

Financial Results for the 1st Quarter of FY 2022

1. Qualitative Information

(1) Qualitative Information related to the Results of Operations

Operating results for the first quarter of the consolidated fiscal year under review were as follows. Ordinary income amounted to 46,031 million of yen , an increase of 1,263 million of yen year on year, mainly due to increases in other income such as gain on sales of stock and other securities, etc. Ordinary expenses amounted to 34,099 million of yen, an increase of 6,426 million of yen year on year, mainly due to increases in other ordinary expenses such as loss on sales of bonds, etc.

As a result, ordinary profit amounted to 11,932 million of yen, a decrease of 5,163 million of yen year on year. Also, profit attributable to owners of parent amounted to 8,612 million of yen, a decrease of 2,854 million of yen year on year.

(2) Qualitative Information related to the Financial Conditions

The financial status as of the end of the first quarter of the consolidated fiscal year under review was as follows. Total assets decreased by 852.3 billion of yen to 10,296.2 billion of yen during the period under review, whereas total liabilities decreased by 830.6 billion of yen to 9,788.6 billion of yen during the period under review.

Also, net assets decreased by 21.6 billion of yen to 507.6 billion of yen during the period under review.

As for the main accounts, loans and bills discounted increased by 9.2 billion of yen to 5,767.3 billion of yen during the period under review.

Securities decreased by 72.3 billion of yen to 2,428.6 billion of yen during the period under review. Deposits amounted to 7,959.3 billion of yen, the same level as the previous fiscal year.

(3) Qualitative Information related to the Consolidated Earnings Projections

Consolidated business forecast for the six months ending September 30, 2022 and the fiscal year ending March 31, 2023 remains unchanged from the figures announced on May 11, 2022.

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The Gunma Bank, Ltd.

Financial Results for the 1st Quarter of FY 2022

２．Quarterly Consolidated Financial Statements and Notes

(1) Quarterly Consolidated Balance Sheets

		(Unit: million of yen)
	As of Mar. 31, 2022	As of Jun. 30, 2022
Assets：
Cash and due from banks	2,651,118	1,885,929
Call loans and bills bought	6,119	-
Monetary claims bought	5,706	-
Trading securities	942	905
Money held in trust	8,268	7,260
Securities	2,501,019	2,428,650
Loans and bills discounted	5,758,096	5,767,389
Foreign exchanges	34,244	9,931
Lease receivables and investments in leases	60,191	59,401
Other assets	78,824	82,716
Tangible fixed assets	66,191	65,853
Intangible fixed assets	9,236	8,791
Retirement benefit asset	10,813	11,362
Deferred tax assets	1,488	11,802
Customers' liabilities for acceptances and guarantees	8,764	8,521
Allowance for loan losses	(52,485)	(52,285)
Total assets	11,148,539	10,296,231
Liabilities：
Deposits	7,959,333	7,959,308
Negotiable certificates of deposit	209,258	253,026
Call money and bills sold	70,496	72,440
Securities sold under repurchase agreements	8,153	8,374
Cash collateral received for securities lent	732,995	475,307
Borrowed money	1,500,795	882,138
Foreign exchanges	534	346
Bonds payable	50,000	40,000
Borrowed money from trust account	12,056	12,526
Other liabilities	57,106	67,387
Provision for bonuses for directors (and other officers)	59	13
Retirement benefit liability	362	369
Provision for retirement benefits for directors (and other officers)	204	191
Provision for reimbursement of deposits	367	337
Provision for point card certificates	155	-
Provision for contingent loss	900	936
Reserves under special laws	0	0
Deferred tax liabilities	359	-
Deferred tax liabilities for land revaluation	7,377	7,377
Acceptances and guarantees	8,764	8,521
Total liabilities	10,619,283	9,788,604
Net assets：
Share capital	48,652	48,652
Capital surplus	29,581	29,581
Retained earnings	407,300	413,037
Treasury shares	(7,352)	(7,352)
Total shareholders' equity	478,181	483,919
Valuation difference on available-for-sale securities	33,379	6,166
Deferred gains or losses on hedges	(137)	(156)
Revaluation reserve for land	13,415	13,415
Remeasurements of defined benefit plans	4,417	4,282
Total accumulated other comprehensive income	51,074	23,707
Total net assets	529,256	507,626
Total liabilities and net assets	11,148,539	10,296,231

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