February 3, 2025
Company Name: Hokuhoku Financial Group, Inc.
Representative: Representative Director, President Hiroshi Nakazawa
Head office address: 1-2-26 Tsutsumicho-dori, Toyama-city, Toyama
(Code number: 8377; Tokyo Stock Exchange Prime Market, Sapporo Securities Exchange) Inquiries: Hironari Hirai, General Manager, Corporate Planning Division (Telephone: +81-76-423-7331)
Notice Concerning Recording of Gain on Bargain Purchase
We would like to inform you that we recorded other ordinary income (equity method investment gain relating to using the equity method) for the third quarter ending March 31, 2025 as follows.
1. Regarding the recording of other ordinary income (equity method investment gain)
Hokkaido Bank, Ltd., a subsidiary of our company, acquired shares and made Hokkaido Leasing Co., Ltd. an equity method affiliate on October 1, 2024. As an accounting treatment associated with this, the Company recorded a gain equivalent to bargain purchase of approximately 2.5 billion yen as "equity method investment gain" in other ordinary income for the third quarter financial results for the fiscal year ending March 31, 2025.
2. Future outlook
The above will be reflected in the "Consolidated Financial Results for the Nine Months Ended December 31, 2024 (Under Japanese GAAP)" and the "Notice Concerning Revision to Financial Forecasts" was released today.