Keiyo Bank : (Delayed) Summary of Consolidated Financial Results for the First Quarter of FY 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 Three Months Ended June 30, 2021
		(Based on Japanese GAAP)
		July 30, 2021
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	TEL [phone]
Corporate Planning Division
Scheduled date to file Quarterly Securities Report:	August 5, 2021
Scheduled date to commence dividend payments:	-
Trading accounts:		No
Preparation of supplementary material on quarterly financial results:	Yes
Holding of quarterly financial results meeting:	No

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the three months ended June 30, 2021 (from April 1, 2021 to June 30, 2021)

(1) Consolidated operating results (cumulative)						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		%
Three months ended June 30, 2021	16,526		1.5		5,129	106.9		3,619		115.9
Three months ended June 30, 2020	16,277		0.5		2,479	(24.1)		1,676		(24.4)
	Earnings per share	Diluted earnings per share
			Yen				Yen
Three months ended June 30, 2021			27.83				27.73
Three months ended June 30, 2020			12.84				12.79
(2) Consolidated financial position
	Total assets			Net assets		Equity ratio
	Millions of yen		Millions of yen				%
As of June 30, 2021	5,707,719		301,100				5.1
As of March 31, 2021	5,553,028		298,051				5.2
2. Cash dividends
					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		-			9.00			-			10.00	19.00
Year ending March 31, 2022		-
Year ending March 31, 2022 (Forecast)					9.50			-			9.50	19.00

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)	28.52
September 30, 2021
Full year	11,200	(6.5)	7,500	1.5	58.10

1

4. Notes

1. Changes in significant subsidiaries during the three months ended June 30, 2021 (changes in specified subsidiaries resulting in the change in scope of consolidation):
2. Application of special accounting methods for preparing quarterly consolidated financial statements:

No

Yes

(3) 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:	Yes
Changes in accounting policies due to other reasons:	No
Changes in accounting estimates:	No
Restatement of prior period financial statements:	No

(4) Number of issued shares (common shares)

Total number of issued shares at the end of the period (including treasury shares)

	As of June 30, 2021	138,927,858	shares	As of March 31, 2021	138,927,858	shares
Number of treasury shares at the end of the period
	As of June 30, 2021	9,425,923	shares	As of March 31, 2021	8,265,010	shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
	Three months ended June 30, 2021	130,040,376	shares	Three months ended June 30, 2020	130,534,869	shares

2

Quarterly consolidated financial statements

Consolidated balance sheets

			(Millions of yen)
		As of March 31, 2021	As of June 30, 2021
Assets
Cash and due from banks	514,412	597,019
Trading securities	3,656	3,648
Money held in trust	2,954	3,012
Securities	1,047,334	1,139,891
Loans and bills discounted	3,875,818	3,854,471
Foreign exchanges	7,739	7,756
Other assets	41,022	42,406
Tangible fixed assets	59,477	58,943
Intangible fixed assets	7,886	8,135
Retirement benefit asset	1,970	2,145
Deferred tax assets	3,197	2,711
Customers' liabilities for acceptances and guarantees	3,203	3,209
Allowance for loan losses	(15,643)	(15,633)
Total assets	5,553,028	5,707,719
Liabilities
Deposits	4,926,199	5,053,439
Negotiable certificates of deposit	85,874	89,026
Borrowed money	216,600	242,900
Foreign exchanges	165	257
Other liabilities	14,569	10,197
Provision for bonuses	1,314	439
Provision for bonuses for directors (and other officers)	60	13
Retirement benefit liability	284	371
Provision for retirement benefits for directors (and other	5	4
officers)
Provision for loss on interest repayment	2	2
Provision for reimbursement of deposits	589	560
Provision for contingent loss	1,023	1,051
Deferred tax liabilities	515	573
Deferred tax liabilities for land revaluation	4,570	4,570
Acceptances and guarantees	3,203	3,209
Total liabilities	5,254,977	5,406,618
Net assets
Share capital	49,759	49,759
Capital surplus	39,704	39,704
Retained earnings	177,123	179,431
Treasury shares	(8,301)	(8,775)
Total shareholders' equity	258,286	260,120
Valuation difference on available-for-sale securities	27,015	28,151
Revaluation reserve for land	7,040	7,040
Remeasurements of defined benefit plans	451	433
Total accumulated other comprehensive income	34,507	35,625
Share acquisition rights	312	317
Non-controlling interests	4,944	5,036
Total net assets	298,051	301,100
Total liabilities and net assets		5,553,028	5,707,719

3

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Consolidated statements of income (cumulative)

		(Millions of yen)
	Three months ended	Three months ended
	June 30, 2020	June 30, 2021
Ordinary income	16,277	16,526
Interest income	12,103	12,211
Interest on loans and discounts	8,940	8,937
Interest and dividends on securities	3,045	3,094
Fees and commissions	2,552	3,140
Other ordinary income	425	176
Other income	1,195	997
Ordinary expenses	13,798	11,397
Interest expenses	202	164
Interest on deposits	95	56
Fees and commissions payments	1,437	1,507
Other ordinary expenses	19	7
General and administrative expenses	9,130	8,890
Other expenses	3,007	826
Ordinary profit	2,479	5,129
Extraordinary income	-	18
Gain on disposal of non-current assets	-	18
Extraordinary losses	29	51
Loss on disposal of non-current assets	29	51
Profit before income taxes	2,449	5,095
Income taxes	749	1,483
Profit	1,699	3,612
Profit (loss) attributable to non-controlling interests	23	(7)
Profit attributable to owners of parent	1,676	3,619

4

Consolidated statements of comprehensive income (cumulative)

		(Millions of yen)
	Three months ended	Three months ended
	June 30, 2020	June 30, 2021
Profit	1,699	3,612
Other comprehensive income	652	1,222
Valuation difference on available-for-sale securities	541	1,242
Remeasurements of defined benefit plans, net of tax	110	(19)
Comprehensive income	2,352	4,834
Comprehensive income attributable to
Comprehensive income attributable to owners of parent	2,195	4,737
Comprehensive income attributable to non-controlling	156	96
interests

5