Gunma Bank : Financial Results for the Third Quarter of Fiscal Year 2021, ending March 31, 2022

The Gunma Bank,Ltd.

February 3, 2022

The Gunma Bank, Ltd.

Financial Results for the Third Quarter of Fiscal Year 2021, ending March 31, 2022

Stock Exchange Listing:	Tokyo(code:8334)
URL:	https://www.gunmabank.co.jp/
Representative:	Akihiko Fukai, President
For Inquiry:	Takeo Uchibori, Managing Executive Officer and General Manager,
		Corporate Planning Department
Filing date of Financial Statements:	February 4, 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. Financial Highlights (from April 1, 2021 to December 31, 2021)
(1) Consolidated Operating Results			(％:Changes from corresponding period of the previous fiscal year)
		Ordinary Income			Ordinary Profit		Profit Attributable to
					Owners of Parent
Third Quarter		million of yen		％		million of yen		％	million of yen	％
Ended Dec.31, 2021		113,437		4.7		33,212		31.5	23,417	26.8
Ended Dec.31, 2020		108,319		(2.4)		25,253		(17.9)	18,470	(15.8)

(Note) Comprehensive Income	Third Quarter ended Dec. 31, 2021: 17,501 million of yen [ (64.7)%]
	Third Quarter ended Dec. 31, 2020: 49,541 million of yen [	51.3 %]
		Profit per Share	Profit per Share	(Diluted)
Third Quarter		yen		yen
Ended Dec.31, 2021		55.83		―
Ended Dec.31, 2020		43.98		―
(2) Consolidated Financial Conditions
		Total Assets	Total Net Assets	Capital Assets to
		Total Assets
As of		million of yen	million of yen	％
Dec.31, 2021		11,074,330		557,143	5.0
Mar.31, 2021		10,615,756		548,093	5.2

(Reference) Capital assets as of	Dec. 31, 2021	: 557,143 million of yen;	Mar. 31, 2021 : 548,093 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, 2021	―	6.00	―	7.00	13.00
Ending Mar. 31, 2022	―	7.00	―
Ending Mar. 31, 2022(Projection)				7.00	14.00
(Note) Revisions of released cash dividends projections: No

3. Consolidated Earnings Projections for Fiscal year 2021	(from April 1, 2021 to March 31, 2022)
					(％:Changes from the previous fiscal year)
	Ordinary Profit		Profit Attributable to	Profit per Share
			Owners of Parent
Fiscal Year 2021	million of yen		％		million of yen	％	yen
Endｉｎｇ Mar. 31, 2022	37,000		84.2		26,000	92.6	62.22

(Note) Revisions of released earnings projections: No

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			The Gunma Bank,Ltd.
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) :	Dec. 31, 2021	435,888,177	Shares
		Mar. 31, 2021	435,888,177	Shares
	② Number of treasury shares :	Dec. 31, 2021	22,850,274	Shares
		Mar. 31, 2021	15,548,367	Shares
	③ Average number of issued shares :	Nine months ended Dec. 31, 2021	419,468,869	Shares
		Nine months ended Dec. 31, 2020	420,005,145	Shares

This quarterly report is not subject to the quarterly review.

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.

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The Gunma Bank,Ltd.

Table of Contents

1.	Qualitative Information
(1)	Qualitative Information related to the Results of Operations	･･･････････････････････････････････････	4
(2)	Qualitative Information related to the Financial Conditions	･･･････････････････････････････････････	4
(3)	Qualitative Information related to the Consolidated Earnings Projections ･･････････････････････････	4

2. Quarterly Consolidated Financial Statements

1. Quarterly Consolidated Balance Sheets ･･････････････････････････････････････････････････････････ 5

(2) Quarterly Consolidated Statements of Income and Comprehensive Income ･････････････････････････ 6

3. Notes to the Quarterly Consolidated Financial Statements

(Notes on Going Concern Assumption) ･･･････････････････････････････････････････････････････････ 7

(Nｏｔｅ on Significant Changes in The Amounts of Shareholders' Equity) ････････････････････････････	7
(Changes in accounting principles) ･･･････････････････････････････････････････････････････････････	7
(Additional Information) ･･････････････････････････････････････････････････････････････････････････	7
Supplementaly Information ･･････････････････････････････････････････････････････････････	8

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The Gunma Bank,Ltd.

1. Qualitative Information

(1) Qualitative Information related to the Results of Operations

Operating results for the third quarter of the consolidated fiscal year under review were as follows. Ordinary income amounted to 113,437 million of yen , an increase of 5,118 million of yen year on year, mainly due to increases in interest income such as interest and dividends on securities. Ordinary expenses amounted to 80,225 million of yen, a decrease of 2,840 million of yen year on year, mainly due to decreases in other expenses such as net transfer to allowance for loan losses. As a result, ordinary profit amounted to 33,212 million of yen, an increase of 7,958 million of yen year on year. Also, profit attributable to owners of parent amounted to 23,417 million of yen,

an increase of 4,946 million of yen year on year.

(2) Qualitative Information related to the Financial Conditions

The financial status as of the end of the third quarter of the consolidated fiscal year under review was as follows. Total assets increased by 458.5 billion of yen to 11,074.3 billion of yen during the period under review, whereas total liabilities increased by 449.5 billion of yen to 10,517.1 billion of yen during the period under review.

Also, net assets increased by 9.0 billion of yen to 557.1 billion of yen during the period under review.

As for the main accounts, loans and bills discounted decreased by 20.2 billion of yen to 5,668.6 billion of yen during the period under review.

Securities increased by 83.5 billion of yen to 2,486.0 billion of yen during the period under review. Deposits increased by 69.5 billion of yen to 7,811.2 billion of yen during the period under review.

(3) Qualitative Information related to the Consolidated Earnings Projections

Consolidated business forecast for the fiscal year ending March 31, 2022 remains unchanged from the figures announced on November 8, 2021.

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			The Gunma Bank,Ltd.
２．Quarterly Consolidated Financial Statements
(1) Quarterly Consolidated Balance Sheets
			(Unit: million of yen)
		As of Mar. 31, 2021	As of Dec. 31, 2021
	Assets：
	Cash and due from banks	2,326,681	2,715,911
	Monetary claims bought	5,621	6,193
	Trading securities	823	1,089
	Money held in trust	11,268	6,668
	Securities	2,402,460	2,486,021
	Loans and bills discounted	5,688,847	5,668,638
	Foreign exchanges	14,947	12,828
	Lease receivables and investments in leases	59,528	59,280
	Other assets	71,348	74,198
	Tangible fixed assets	69,463	66,530
	Intangible fixed assets	9,956	9,479
	Retirement benefit asset	6,631	7,705
	Deferred tax assets	1,571	1,408
	Customers' liabilities for acceptances and guarantees	9,632	9,179
	Allowance for loan losses	(63,028)	(50,804)
	Total assets	10,615,756	11,074,330
	Liabilities：
	Deposits	7,741,661	7,811,231
	Negotiable certificates of deposit	167,674	202,775
	Call money and bills sold	37,087	112,604
	Securities sold under repurchase agreements	4,992	2,628
	Cash collateral received for securities lent	669,024	789,038
	Borrowed money	1,291,081	1,455,873
	Foreign exchanges	162	384
	Bonds payable	50,000	50,000
	Borrowed money from trust account	8,953	11,403
	Other liabilities	66,683	49,991
	Provision for bonuses for directors (and other officers)	56	40
	Retirement benefit liability	368	362
	Provision for retirement benefits for directors (and other officers)	244	214
	Provision for reimbursement of deposits	533	404
	Provision for point card certificates	144	152
	Provision for contingent loss	900	906
	Reserves under special laws	0	0
	Deferred tax liabilities	10,636	12,613
	Deferred tax liabilities for land revaluation	7,823	7,380
	Acceptances and guarantees	9,632	9,179
	Total liabilities	10,067,663	10,517,187
	Net assets：
	Share capital	48,652	48,652
	Capital surplus	29,581	29,581
	Retained earnings	391,382	409,113
	Treasury shares	(8,838)	(11,310)
	Total shareholders' equity	460,778	476,037
	Valuation difference on available-for-sale securities	71,541	65,300
	Deferred gains or losses on hedges	(231)	(96)
	Revaluation reserve for land	13,715	13,421
	Foreign currency translation adjustment	(98)	-
	Remeasurements of defined benefit plans	2,387	2,480
	Total accumulated other comprehensive income	87,314	81,105
	Total net assets	548,093	557,143
	Total liabilities and net assets	10,615,756	11,074,330

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