Keiyo Bank : (Delayed) Summary of Consolidated Financial Results for FY 2020

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)

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
Corporate Planning 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:		No

May 12, 2021

TEL [phone]

									(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	62,957		(7.5)	11,987		46.5		7,383	32.6
Year ended March 31, 2020	68,081		0.9	8,182		(47.7)		5,564	(47.2)
	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		56.52		56.32				2.5					0.2			19.0
Year ended March 31, 2020		42.52		42.39				1.9					0.1			12.0
(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		5,553,028				298,051					5.2					2,240.83
As of March 31, 2020		4,994,723				282,306					5.5					2,125.95
(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		366,396				(99,751)					(2,248)					512,515
Year ended March 31, 2020		23,671				(45,206)					(3,829)					248,118
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	-	11.00	-		9.00	20.00		2,610			47.0		0.9
Year ended March 31, 2021	-			9.00	-		10.00	19.00		2,482			33.6		0.8
Year ending March 31, 2022	-			9.50	-			9.50	19.00					32.8
(Forecast)
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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
Six months ending	Millions of yen	%	Millions of yen	%	Yen
5,600	(10.7)	3,700	(12.4)	28.51
September 30, 2021
Full year	11,200	(6.5)	7,500	1.5	57.86
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:	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 March 31, 2021	138,927,858	shares	As of March 31, 2020	138,927,858	shares
Number of treasury shares at the end of the period
	As of March 31, 2021	8,265,010	shares	As of March 31, 2020	8,394,348	shares
Average number of shares during the period
	Year ended March 31, 2021	130,631,503	shares	Year ended March 31, 2020	130,874,973	shares

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Consolidated financial statements

Consolidated balance sheets

			(Millions of yen)
		As of March 31, 2020	As of March 31, 2021
Assets
Cash and due from banks	250,132	514,412
Call loans and bills bought	3,980	-
Trading securities	3,931	3,656
Money held in trust	-	2,954
Securities	933,367	1,047,334
Loans and bills discounted	3,694,413	3,875,818
Foreign exchanges	3,498	7,739
Other assets	39,748	41,022
Tangible fixed assets	61,313	59,477
Buildings, net	25,388	23,642
Land	31,059	30,806
Construction in progress	134	583
Other tangible fixed assets	4,731	4,444
Intangible fixed assets	6,222	7,886
Software	1,966	2,160
Software in progress	4,056	5,557
Other intangible fixed assets	199	168
Retirement benefit asset	-	1,970
Deferred tax assets	6,809	3,197
Customers' liabilities for acceptances and guarantees	3,940	3,203
Allowance for loan losses	(12,635)	(15,643)
Total assets	4,994,723	5,553,028
Liabilities
Deposits	4,665,243	4,926,199
Negotiable certificates of deposit	17,000	85,874
Borrowed money	-	216,600
Foreign exchanges	135	165
Other liabilities	15,242	14,569
Provision for bonuses	1,307	1,314
Provision for bonuses for directors (and other officers)	61	60
Retirement benefit liability	2,507	284
Provision for retirement benefits for directors (and other	2	5
officers)
Provision for loss on interest repayment	5	2
Provision for reimbursement of deposits	799	589
Provision for contingent loss	1,165	1,023
Deferred tax liabilities	363	515
Deferred tax liabilities for land revaluation	4,639	4,570
Acceptances and guarantees	3,940	3,203
Total liabilities		4,712,416	5,254,977

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		(Millions of yen)
	As of March 31, 2020	As of March 31, 2021
Net assets
Share capital	49,759	49,759
Capital surplus	39,704	39,704
Retained earnings	171,957	177,123
Treasury shares	(8,432)	(8,301)
Total shareholders' equity	252,989	258,286
Valuation difference on available-for-sale securities	20,065	27,015
Revaluation reserve for land	7,198	7,040
Remeasurements of defined benefit plans	(2,744)	451
Total accumulated other comprehensive income	24,519	34,507
Share acquisition rights	346	312
Non-controlling interests	4,451	4,944
Total net assets	282,306	298,051
Total liabilities and net assets	4,994,723	5,553,028

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Consolidated statements of income and consolidated statements of comprehensive income

Consolidated statements of income

		(Millions of yen)
	Fiscal year ended	Fiscal year ended
	March 31, 2020	March 31, 2021
Ordinary income	68,081	62,957
Interest income	47,930	47,810
Interest on loans and discounts	36,557	36,097
Interest and dividends on securities	10,818	11,151
Interest on call loans and bills bought	87	(3)
Interest on deposits with banks	466	564
Other interest income	0	0
Fees and commissions	10,849	11,648
Other ordinary income	1,801	988
Other income	7,499	2,510
Recoveries of written off receivables	3	2
Other	7,496	2,508
Ordinary expenses	59,899	50,970
Interest expenses	778	753
Interest on deposits	454	323
Interest on negotiable certificates of deposit	2	2
Interest on call money and bills sold	(12)	(5)
Interest expenses on cash collateral received for securities	334	433
lent
Interest on borrowings and rediscounts	0	0
Fees and commissions payments	4,447	4,377
Other ordinary expenses	471	2,201
General and administrative expenses	37,067	36,647
Other expenses	17,134	6,991
Provision of allowance for loan losses	13,188	4,173
Other	3,945	2,817
Ordinary profit	8,182	11,987
Extraordinary income	235	95
Gain on disposal of non-current assets	235	95
Extraordinary losses	329	1,217
Loss on disposal of non-current assets	127	229
Impairment losses	202	987
Profit before income taxes	8,087	10,866
Income taxes - current	5,514	4,124
Income taxes - deferred	(3,198)	(878)
Total income taxes	2,316	3,246
Profit	5,771	7,620
Profit attributable to non-controlling interests	206	236
Profit attributable to owners of parent	5,564	7,383

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