Japan Post Bank Co., Ltd. · TSE:7182
Japan Post Bank — H1 FY2024/3 Earnings Presentation
72 slides from Japan Post Bank's earnings presentation, Nov 16, 2023
Slide 1: Investors Meeting FY2024/3 H1
Investors Meeting FY2024/3 H1 November 16, 2023 Director, President and Representative Executive Officer Norito Ikeda
Slide 2: Disclaimer
Disclaimer This document is written solely for the purpose of disclosing relevant information regarding JAPAN POST BANK Co., Ltd. (“Japan Post Bank”) and its consolidated subsidiaries (the “Japan Post Bank Group”). This document does not constitute an offer to sell or the solicitation of an offer to
Slide 3: Contents
01 Executive Summary P.35 02 How to Increase the Corporate Value P.75 03 Appendix P.22 FY2024/3 H1 Financial Data 04 P.62 (Non-consolidated Basis) Copyright© Copyright© JAPAN JAPANPOST POSTBANK AllAllRights Rights Reserved. BANK Reserved. 2
Slide 4: Executive Summary (1) FY2024/3 H1 Results
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Executive Summary (1) FY2024/3 H1 Results Net income attributable to owners of parent increased by JPY 23.5bn year on year to JPY 182.1bn. It equated to 54.3% of the full-year earnings forecast and remained strong, so full-y
Slide 5: Executive Summary (2) Roadmap to Increase Corporate Value
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Executive Summary (2) Roadmap to Increase Corporate Value Our cost of shareholders’ equity has remained approximately 5%. As a 1st step, we will work to achieve ROE that exceeds the cost of shareholders' equity and then aim
Slide 6: Executive Summary (3) Restructuring of the Yen Interest-rate Portfolio
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Executive Summary (3) Restructuring of the Yen Interest-rate Portfolio Yen interest rates have risen following the Bank of Japan‘s monetary policy tweaks in July and October 2023. Within FY2024/3 Q2, we reverse the balance o
Slide 7: How to Increase the Corporate Value
01 Executive Summary P.35 02 How to Increase the Corporate Value P.75 03 Appendix P.22 FY2024/3 H1 Financial Data 04 P.62 (Non-consolidated Basis) Copyright© Copyright© JAPAN JAPANPOST POSTBANK AllAllRights Rights Reserved. BANK Reserved. 6
Slide 8: Analysis & Assessment (1) PBR
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data How to Increase the Corporate Value: Analysis & Assessment (1) The Bank’s PBR is higher than the banking sector simple average, but lower than 1x. To achieve a PBR of 1x or higher, ROE must exceed the “cost of shareholders’
Slide 9: Analysis & Assessment (2) / Policies, Goals, and Initiatives (1)
2. How to Increase How to Increase the Corporate Value: 1. Summary Corporate Value 3. Appendix 4. Financial Data Analysis & Assessment (2) / Policies, Goals, and Initiatives Towards Improvement (1) The Bank's ROE is in the mid-3% range, and has consistently remained below the cost of shareholders’ e
Slide 10: Policies, Goals, and Initiatives Towards Improvement (2)
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data How to Increase the Corporate Value: Policies, Goals, and Initiatives Towards Improvement (2) We will pursue a growth strategy that leverages our unique strengths while reinforcing our management base, aiming to sustainably
Slide 11: Restructuring of the Yen Interest-rate Portfolio (1)
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Restructuring of the Yen Interest-rate Portfolio (1) Paradigm Shift in Portfolio + Next Actions We achieve a paradigm shift in the portfolio by shifting investments from JGBs to risk assets in the face of declining yen inter
Slide 12: Restructuring of the Yen Interest-rate Portfolio (2)
2. How to Increase Restructuring of the Yen Interest-rate Portfolio 1. Summary Corporate Value 3. Appendix 4. Financial Data (2) Reverse Balance of JGBs and Expand Profits Within FY2024/3 Q2, we reverse the balance of JGBs, which has been continuously declining since the BOJ adopted a negative inter
Slide 13: Restructuring of the Yen Interest-rate Portfolio (3)
2. How to Increase Restructuring of the Yen Interest-rate Portfolio 1. Summary Corporate Value 3. Appendix 4. Financial Data (3) Scope and Feasibility of Expanding JGB holdings While the Bank of Japan's holdings of JGBs have increased due to its unprecedented monetary easing, JGB holdings by Japan P
Slide 14: Restructuring of the Yen Interest-rate Portfolio (4)
2. How to Increase Restructuring of the Yen Interest-rate Portfolio 1. Summary Corporate Value 3. Appendix 4. Financial Data (4) Robust B/S Structure to Support Investments With the huge retail customer base and stable funds supported by the largest physical branch network among Japanese banks, we h
Slide 15: Restructuring of the Yen Interest-rate Portfolio (5)
2. How to Increase Restructuring of the Yen Interest-rate Portfolio 1. Summary Corporate Value 3. Appendix 4. Financial Data (5) Impact of Rising Yen Interest Rates on P/L (Simple Illustration)*1 Due to rising yen interest rates, the Bank’s P/L has improved (Increased interest received > Increased f
Slide 16: Market Business: Risk Assets and Strategic Investment Areas
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Market Business: Risk Assets and Strategic Investment Areas We will continue to utilize capital and expand the balance of risk assets as well as strategic investment areas toward the end of FY2026/3. Risk Assets*1 (Non-conso
Slide 17: Capital Investment Targets and Prospect for CET1 Ratio
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data (Ref.) Capital Investment Targets and Prospect for CET1 Ratio Due to additional investment in risk assets and reinforcement of financial regulations, the CET1 ratio is expected to fall gradually by March 31, 2026. However, w
Slide 18: Retail Business (1) Digital Strategy
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Retail Business (1) Digital Strategy (Platform Strategy) Provide safe and secure services to customers throughout Japan through complementarity between the physical and the digital Our goal is to increase transaction volume
Slide 19: Retail Business (2) Work Efficiency Progress
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Retail Business (2) Progress in Improving the Work Efficiency from Quantitative Aspects We have steadily reduced G&A costs and increased profits in our retail business. From now on, we will attempt to sustain G&A cost reduct
Slide 20: Σ Business: New Corporate Banking Business Strategy
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Σ Business: New Corporate Banking Business Strategy We started Σ Business in Oct. 2022 and set the initial two-year preparation period (ending Sep. 30, 2024). So far, we have selected three investment vehicles. We will conti
Slide 21: Enhancement of Shareholder Returns
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Enhancement of Shareholder Returns Dividend per share for FY2024/3 is planned to be JPY 50 (dividend payout ratio of 54.0%), based on FY2024/3 earnings forecasts and the shareholder return policy. Additional shareholder retu
Slide 22: Financial Results
01 Executive Summary P.35 02 How to Increase the Corporate Value P.75 03 Appendix P.22 FY2024/3 H1 Financial Data 04 P.62 (Non-consolidated Basis) Copyright© Copyright© JAPAN JAPANPOST POSTBANK AllAllRights Rights Reserved. BANK Reserved. 21
Slide 23: Overview of FY2024/3 H1 Results (1) Results
2. How to Increase Overview of FY2024/3 H1 Results 1. Summary Corporate Value 3. Appendix 4. Financial Data (1) Results Asset Financial Results Management Σ Business Governance For FY2024/3 H1, net income attributable to owners of parent stands at JPY 182.1bn . It equated to 54.3% of the full-year e
Slide 24: Changes in Net Ordinary Income (1) vs Forecasts
2. How to Increase (Ref.) Changes in Net Ordinary Income for 1. Summary Corporate Value 3. Appendix 4. Financial Data Asset Earnings Forecasts (Simple Illustration) (1) vs Forecasts Financial Results Management Σ Business Governance Causes of Changes in Net Ordinary Income (Consolidated) [FY2024/3 H
Slide 25: Changes in Net Ordinary Income (2) YoY
2. How to Increase (Ref.) Changes in Net Ordinary Income for 1. Summary Corporate Value 3. Appendix 4. Financial Data Earnings Forecasts (Simple Illustration) (2) YoY Financial Results Asset Management Σ Business Governance Causes of Changes in Net Ordinary Income (Consolidated) [FY2023/3 H1 Actual
Slide 26: Overview of H1 Results (2) Capital Adequacy Ratio and CET1 Ratio
2. How to Increase Overview of FY2024/3 H1 Results 1. Summary Corporate Value 3. Appendix 4. Financial Data (2) Capital Adequacy Ratio and CET1 Ratio Asset Financial Results Management Σ Business Governance The consolidated capital adequacy ratio as of September 30, 2023 was 15.30%, down 0.22% compa
Slide 27: Overview of H1 Results (3) Financial / KPI Targets
2. How to Increase Overview of FY2024/3 H1 Results 1. Summary Corporate Value 3. Appendix 4. Financial Data (3) Financial / KPI Targets Asset Financial Results Management Σ Business Governance Profitability Efficiency Soundness Result for FY2026/3 Result for FY2026/3 Result as of As of Mar. 31, 〈 FY
Slide 28: Deposit Balance
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Deposit Balance Asset Financial Results Management Σ Business Governance Deposits on September 30, 2023 amounted to JPY 194.1tn, down JPY 0.8tn from March 31, 2023. Ordinary deposits increased by JPY 2.5tn due to transfers f
Slide 29: Fees and Commissions
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Fees and Commissions Asset Financial Results Management Σ Business Governance Net fees and commissions for FY2024/3 H1 increased by JPY 2.5bn year on year to JPY 76.8bn. Net fees and commissions have steadily increased from
Slide 30: General and Administrative Expenses
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data General and Administrative Expenses Asset Financial Results Management Σ Business Governance General and administrative expenses for FY2024/3 H1 increased by JPY 1.4bn year on year to JPY 465.6bn. While personnel expenses an
Slide 31: Market Situation
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Market Situation Asset Financial Results Management Σ Business Governance In FY2024/3 H1, main risk factors such as domestic and foreign interest rates exceeded expectations* due to a number of issues, such as trends in mone
Slide 32: Unrealized Gains (Losses) on Financial Instruments
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Unrealized Gains (Losses) on Financial Instruments Asset Financial Results Management Σ Business Governance Net unrealized losses on financial instruments (available-for-sale) after taking into consideration gains (losses) f
Slide 33: Income Analysis
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Income Analysis Asset Financial Results Management Σ Business Governance Net interest income for FY2024/3 H1 decreased by JPY 92.1bn year on year to JPY 337.5bn. Net interest income decreased mainly due to an increase in for
Slide 34: Net Interest Income (Financial vs Management Accounting)
(Ref.) Net Interest Income (Financial Accounting) vs. 1. Summary 2. How to Increase Corporate Value 3. Appendix 4. Financial Data Net Interest Income, etc. (Management Accounting) Asset (Simple Illustration) Financial Results Management Σ Business Governance Net Interest Income, Net Other Operating
Slide 35: Asset Management (1) Investment Assets
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Asset Management (1) Investment Assets Asset Financial Results Management Σ Business Governance At the end of September 2023, investment assets were JPY 226.8tn, up by JPY 0.4tn compared to the end of March 2023. The balance
Slide 36: Asset Management (2) Exposure Profile of Investment Assets
2. How to Increase Asset Management 1. Summary Corporate Value 3. Appendix 4. Financial Data (2) Exposure Profile of Investment Assets Asset Financial Results Management Σ Business Governance Exposures Classified Exposures Classified by Ratings (Non-consolidated) by Sector and Region (Non-consolidat
Slide 37: Asset Management (3) Balances of Securities by Remaining Maturity
2. How to Increase Asset Management (3) Balances of Securities 1. Summary Corporate Value 3. Appendix 4. Financial Data Based on the Remaining Time to Maturity, etc. Asset Financial Results Management Σ Business Governance Balances Based on the Remaining Time to Maturity Balances (Ending Balance Bas
Slide 38: Strategic Investment Areas
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Investment Policy (Risk Appetite) Asset Financial Results Management Σ Business Governance Strengthening risk tolerance of our portfolio and focusing on risk-return improvement, we conduct portfolio management flexibly while
Slide 39: Building a Strong Operational Structure (1)
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Building a Strong Operational Structure (1) Asset Financial Results Management Σ Business Governance The organization comprises eight departments and one office, specializing in different fields, under the supervision of the
Slide 40: Building a Strong Operational Structure (2)
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Building a Strong Operational Structure (2) Asset Financial Results Management Σ Business Governance We manage the investment implementation, etc., while ensuring adequate checks and balances by the Risk Management Division
Slide 41: Status of Credit Risk, etc.
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Status of Credit Risk, etc. Asset Financial Results Management Σ Business Governance Existing Holdings New Investments Impact of investment approx. JPY 40tn (Bulk is in fixed bonds.) allocation Repeated from previous page Th
Slide 42: Private Equity Investments (1) Situation to Date
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Private Equity Investments (1) Situation to Date Asset Financial Results Management Σ Business Governance The current book value balance stands at JPY 4.9tn. The portfolio as a whole has maintained unrealized gains of JPY 1.
Slide 43: Private Equity Investments (2) The Portfolio
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Private Equity Investments (2) The Portfolio Asset Financial Results Management Σ Business Governance At present, while the aim is to earn capital gains by predominantly focusing on buyouts, we are also allocating to income
Slide 44: Private Equity Investments (3) Current Investment Market
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Private Equity Investments (3) Current Investment Market Asset Financial Results Management Σ Business Governance Both exit activity and fund offerings slowed in 2022 and thru 2023. Although there are signs of a slight recov
Slide 45: Real Estate Fund (1) Current Status
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Asset Real Estate Fund (1) Current Status Financial Results Management Σ Business Governance Long term investments in the equity/debt financial products backed by the high-quality diversified commercial real estate assets. A
Slide 46: Real Estate Fund (2) The Portfolio
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Asset Real Estate Fund (2) The Portfolio Financial Results Management Σ Business Governance Pursue income gain backed by the stable rental revenue and capital gain by the long-term value growth of underlying properties. High
Slide 47: Real Estate Fund (3) The Portfolio
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Asset Real Estate Fund (3) The Portfolio Financial Results Management Σ Business Governance Overweight to the industrial, including logistics facilities for e-commerce businesses, and rental residential sectors and underweig
Slide 48: Real Estate Fund (4) Current Investment Market
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Asset Real Estate Fund (4) Current Investment Market Financial Results Management Σ Business Governance Contrasting rental market with solid NOI*1 growth in the industrial and residential by tight supply/demand balance while
Slide 49: What are Non-revenue Dividends from Foreign Bond Investment Trusts?
2. How to Increase (Ref.) What are Non-revenue Dividends from 1. Summary Corporate Value 3. Appendix 4. Financial Data Foreign Bond Investment Trusts? Asset Financial Results Management Σ Business Governance Dividends are classified into revenue dividends or non-revenue dividends and paid to the Ban
Slide 50: New Corporate Banking Business (1) Co-creation with Regional Financial Institutions
2. How to Increase New Corporate Banking Business (1) Contribution 1. Summary Corporate Value 3. Appendix 4. Financial Data to Regional Communities via Various Frameworks Asset Financial Results Management Σ Business Governance For the development of regional economies, a variety of investment schem
Slide 51: New Corporate Banking Business (2) Σ Business Advancement
2. How to Increase New Corporate Banking Business 1. Summary Corporate Value 3. Appendix 4. Financial Data (2) Σ Business Advancement Asset Financial Results Management Σ Business Governance Definition of Σ Business: “New Corporate Banking Business through Investment (GP Business in a JPB appropriat
Slide 52: Governance Systems (1) IT Investments
2. How to Increase Governance Systems, etc. to Support Our Businesses 1. Summary Corporate Value 3. Appendix 4. Financial Data (1) IT Investments Asset Financial Results Management Σ Business Governance Trends in IT Investment (Cash Flow Basis) IT Investments (billion yen) To strengthen the manageme
Slide 53: ESG Management - ESG-themed Investments, etc.
2. How to Increase Governance Systems, etc. to Support Our Businesses 1. Summary Corporate Value 3. Appendix 4. Financial Data Asset (2) ESG management - ESG-themed Investments, etc. Financial Results Management Σ Business Governance Balance of ESG-themed Investments* Roadmap to Decarbonization As o
Slide 54: ESG Management - Human Capital
2. How to Increase Governance Systems, etc. to Support Our Businesses 1. Summary Corporate Value 3. Appendix 4. Financial Data (2) ESG management - Human Capital Asset Financial Results Management Σ Business Governance To promote human capital management, we focus on securing and nurturing human res
Slide 55: ESG Management - Structure of the Board of Directors
2. How to Increase Governance Systems, etc. to Support Our Businesses 1. Summary Corporate Value 3. Appendix 4. Financial Data (2) ESG management - Structure of the Board of Directors Asset Financial Results Management Σ Business Governance Skill Matrix of the Board of Directors Experience/Expertise
Slide 56: ESG Indices, Initiatives and External Assessments
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data (Ref.) ESG Indices, Initiatives and External Assessments Asset Financial Results Management Σ Business Governance ESG Indices External Assessments Initiatives (Ref.) Japan Post Investment Corporation (consolidated subsidiary
Slide 57: Current Status Regarding Privatization (1) Relationship with Group Companies
2. How to Increase Current Status Regarding Privatization 1. Summary Corporate Value 3. Appendix 4. Financial Data (1) Relationship with Group Companies, etc. Asset Financial Results Management Σ Business Governance Currently, the regulations of the Postal Service Privatization Act (additional regul
Slide 58: Current Status Regarding Privatization (2) Overview of Regulations
2. How to Increase Current Status Regarding Privatization 1. Summary Corporate Value 3. Appendix 4. Financial Data (2) Overview of Regulations Surrounding the Bank Asset Financial Results Management Σ Business Governance Summary of Regulations Universal Service Obligation Related to Obligation to
Slide 59: Current Status Regarding Privatization (3) Agency Commissions
2. How to Increase Current Status Regarding Privatization 1. Summary Corporate Value 3. Appendix 4. Financial Data (3) Agency Commissions Paid to Japan Post, etc. Asset Financial Results Management Σ Business Governance Structure of Expenses Associated with Contribution System Outsourcing to Japan P
Slide 60: Current Status Regarding Privatization (4) Shareholder Composition
2. How to Increase Current Status Regarding Privatization 1. Summary Corporate Value 3. Appendix 4. Financial Data (4) Shareholder Composition Asset Financial Results Management Σ Business Governance As of Sep. 30, 2023 (Ref.) As of Sep. 30, 2022 Other domestic Financial instruments companies busine
Slide 61: Current Status Regarding Privatization (5) Market Restructuring
2. How to Increase Current Status Regarding Privatization 1. Summary Corporate Value 3. Appendix 4. Financial Data (5) Market Restructuring (Tokyo Stock Exchange) Asset Financial Results Management Σ Business Governance Situation to Date Upcoming Schedule Japan Post TSE The Bank HLDGS. Japan Post
Slide 62: Financial Data (Non-consolidated Basis)
01 Executive Summary P.35 02 How to Increase the Corporate Value P.75 03 Appendix P.22 FY2024/3 H1 Financial Data 04 P.62 (Non-consolidated Basis) Copyright© Copyright© JAPAN JAPANPOST POSTBANK AllAllRights Rights Reserved. BANK Reserved. 61
Slide 63: Income Analysis
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Income Analysis (Millions of yen) For the six months ended For the six months ended September 30, September 30, (B) – (A) September 30, September 30, (B) – (A) 2022 (A) 2023 (B) 2022 (A) 2023 (B) Gross operating profit 574,7
Slide 64: Summarized Balance Sheets
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Summarized Balance Sheets (Millions of yen) As of As of Increase As of As of Increase March 31, September 30, (Decrease) March 31, September 30, (Decrease) 2023 (A) 2023 (B) (B) – (A) 2023 (A) 2023 (B) (B) – (A) Total assets
Slide 65: Average Balance, Interest, and Earnings Yield (Domestic)
2. How to Increase Average Balance, Interest, and Earnings Yield of 1. Summary Corporate Value 3. Appendix 4. Financial Data Interest-Earning Assets and Interest-Bearing Liabilities (1) Domestic (Millions of yen, %) For the six months ended Increase (Decrease) September 30, 2022 (A) September 30, 20
Slide 66: Average Balance, Interest, and Earnings Yield (Total)
2. How to Increase Average Balance, Interest, and Earnings Yield of 1. Summary Corporate Value 3. Appendix 4. Financial Data Interest-Earning Assets and Interest-Bearing Liabilities (3) Total (Millions of yen, %) For the six months ended Increase (Decrease) September 30, 2022 (A) September 30, 2023
Slide 67: Unrealized Gains (Losses) on Financial Instruments
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Unrealized Gains (Losses) on Financial Instruments (1) Held-to-maturity Securities (Millions of yen) As of March 31, 2023 (A) As of September 30, 2023 (B) Increase (Decrease) (B) – (A) Amount on the Net unrealized Amount on
Slide 68: Unrealized Gains (Losses) on Financial Instruments
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Unrealized Gains (Losses) on Financial Instruments (3) Money Held in Trust Classified as Available-for-sale (Millions of yen) As of March 31, 2023 (A) As of September 30, 2023 (B) Increase (Decrease) (B) – (A) Amount on the
Slide 69: General and Administrative Expenses
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data General and Administrative Expenses (Millions of yen, %) For the six months ended Increase (Decrease) September 30, 2022 (A) September 30, 2023 (B) (B) – (A) Amount % Amount % Amount Personnel expenses 56,275 12.12 55,382 11
Slide 70: Capital
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Capital (Millions of yen) Domestic Standard Non-consolidated Consolidated As of As of Increase As of As of Increase March 31, 2023 September 30, 2023 (Decrease) March 31, 2023 September 30, 2023 (Decrease) (A) (B) (B) – (A)
Slide 71: Securitized Products Exposure
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Securitized Products Exposure As of March 31, 2023 and September 30, 2023, the Bank held the following securitized products. The Bank’s holdings of securitized products were limited to securitization exposure as final invest
Slide 72: Selected Historical Financial Data
2. How to Increase 1. Summary Corporate Value 3. Appendix 4. Financial Data Selected Historical Financial Data (billion yen) FY2020/3 FY2021/3 FY2022/3 FY2023/3 FY2023/3 H1 FY2024/3 H1 Consolidated Consolidated gross operating profit 1,314.0 1,319.1 1,292.0 1,056.3 576.3 377.7 Net interest income*1