San-in Godo Bank Ltd.TSE: 8381

Consolidated Financial Results for the Six Months Ended September 30,2024

Nov 11, 2024 at 5:44 AM UTC · Issued by San-in Godo Bank Ltd.

Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

Consolidated Financial Results

for the Six Months Ended September 30, 2024

[Japanese GAAP]

Company name: The San-in Godo Bank,Ltd.

November 11, 2024

Listing:

Tokyo

Securities code:

8381

URL:

https://www.gogin.co.jp

Representative: Toru Yamasaki, President and Representative Director

Inquiries:

Tsuyoshi Takahashi, Executive Officer, General Manager, Management Planning Dept.

Telephone:

+81-852-55-1000

Scheduled date to file semi-annual securities report:

November 22, 2024

Scheduled date to commence dividend payments:

December 9, 2024

Trading accounts:

None

Preparation of supplementary material on financial results: Yes

Holding of financial results briefing:

Yes (For Institutional Investors and Analysts)

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated Financial Results for the Six Months Ended September 30, 2024 (April 1, 2024 to September 30, 2024)

(1) Consolidated Operating Results

(Percentages indicate year-on-year changes.)

Ordinary income

Ordinary profit

Profit attributable to

owners of parent

Six months ended

Millions of yen

September 30, 2024

63,497

10.2

12,070

21.3

8,356

26.0

September 30, 2023

57,588

2.8

9,944

(22.5)

6,627

(25.4)

(Note) Comprehensive income:

For the six months ended September 30, 2024:

3,576 million

[

―

For the six months ended September 30, 2023:

(4,261) million

[

―

Basic earnings

Diluted earnings

per share

Six months ended

Yen

September 30, 2024

54.69

54.67

September 30, 2023

43.04

43.02

(2) Consolidated Financial Position

Total assets

Net assets

Net assets ratio

As of

Millions of yen

September 30, 2024

7,549,675

323,498

4.2

March 31, 2024

7,360,564

325,089

4.4

(Reference) Equity: As of

September 30, 2024:

323,007

million

As of

March 31, 2024:

324,584

million

(Note) Net assets ratio = (Net assets - Share acquisition rights - Non-controlling interests) / Total assets

2. Dividends

			Annual dividends

	1st	2nd		3rd	Year-end	Total
	quarter-end	quarter-end		quarter-end

	Yen	Yen		Yen	Yen	Yen
Fiscal year ended March 31, 2024	－	18.00		－	21.00	39.00
Fiscal year ending March 31, 2025	－	24.00
Fiscal year ending March 31, 2025 (Forecast)				－	24.00	48.00

(Note) Revision to the forecast for dividends most recently announced: None

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2025(April 1, 2024 to March 31, 2025)

(Percentages indicate year-on-year changes.)

Full year

Ordinary income	Ordinary profit		Profit attributable to	Basic earnings
	owners of parent	per share

Millions of yen	%	Millions of yen		%	Millions of yen	%	Yen
131,900	9.7	26,400		6.7	18,200	8.3	119.36

(Note) Revision to the financial results forecast most recently announced : Yes

* Notes:

(1) Significant changes in the scope of consolidation during the period:

None

Changes in accounting policies, changes in accounting estimates, and restatements
1. Changes in accounting policies due to revisions to accounting standards and other regulations: None
2. Changes in accounting policies due to other reasons: None
3. Changes in accounting estimates: None
4. Restatements: None
Number of issued shares (common shares)
1. Total number of issued shares at the end of the period (including treasury shares):

	September 30, 2024:	156,977,472	shares
	March 31, 2024:	156,977,472	shares
2)	Number of treasury shares at the end of the period:
	September 30, 2024:	4,836,517	shares
	March 31, 2024:	3,489,463	shares
3)	Average number of shares outstanding during the period:
	Six months ended September 30, 2024:		152,794,176 shares
	Six months ended September 30, 2023:		153,966,639 shares

(Note) The period-end treasury stock includes the Bank's shares held by a trust account for Board Benefit Trust (BBT)(781,300shares as of September 30, 2024 and 891,300shares as of March 31, 2024 ).

The treasury stock deducted to calculate the average number of outstanding shares includes the Bank's shares held by the trust account (850,425shares as of September 30, 2024 and 971,674shares as of September 30, 2023 ).

(Overview) Non-consolidated Financial Highlights
1. Non-consolidated Financial Results for the Six Months Ended September 30, 2024 (April 1, 2024 to September 30, 2024)
(1) Non-consolidated Operating Results					(Percentages indicate year-on-year changes.)
	Ordinary income	Ordinary profit	Net income

Six months ended	Millions of yen		%	Millions of yen		%	Millions of yen	%
September 30, 2024	54,930		14.3	12,053		39.5	8,368	34.1
September 30, 2023	48,028		0.1	8,637		(31.4)	6,238	(28.6)

	Basic earnings
	per share
Six months ended			Yen
September 30, 2024			54.77
September 30, 2023			40.51
(2) Non-consolidated Financial Position
	Total assets	Net assets		Net assets ratio

As of	Millions of yen	Millions of yen			%
September 30, 2024			7,522,858			305,452		4.0
March 31, 2024			7,333,169			307,125		4.1

(Reference) Equity: As of	September 30, 2024:	¥	305,422	million
As of	March 31, 2024:	¥	307,095	million
(Note) Net assets ratio = (Net assets - Share acquisition rights) / Total assets

2. Non-consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2025(April 1, 2024 to March 31, 2025)

Full year

(Percentages indicate year-on-year changes.)

Ordinary income	Ordinary profit	Net income		Basic earnings
	per share

Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
113,200	11.1	25,500	11.0	17,600	10.1	115.43

This report is out of the scope of the interim audit by certified public accountants or independent audit firms.
Proper use of earnings forecasts, and other special matters

The forecasts above are based on information available to the Bank as of the date of this publication. Accordingly, actual results may differ significantly from those forecasts due to various factors.

The San-in Godo Bank,Ltd.

Table of Contents

Semi-annual Consolidated Financial Statements

Semi-annual Consolidated Balance Sheets	2
Semi-annual Consolidated Statements of Income and Comprehensive Income	4
Semi-annual Consolidated Statements of Changes in Net Assets	6

Semi-annual Non-consolidated Financial Statements

Semi-annual Non-consolidated Balance Sheets	8
Semi-annual Non-consolidated Statements of Income	10
Semi-annual Non-consolidated Statements of Changes in Net Assets	11

Supplementary Information

Financial Data	15
Net Holding Gains (Losses) on Securities	16
Disclosed Assets Based on the Financial Reconstruction Act and Risk managed loans	17
Classification of Loans and Bills Discounted by Types of Industry (Non-consolidated)	19

				The San-in Godo Bank,Ltd.
Semi-annual Consolidated Financial Statements
Semi-annual Consolidated Balance Sheets
				(Millions of yen)
			As of March 31, 2024	As of September 30, 2024

Assets
	Cash and due from banks	886,423	754,657

	Call loans and bills bought		4,012	10,847
	Monetary claims bought	13,889	13,329

	Money held in trust		4,993	5,009
	Securities	1,558,741	1,738,139

	Loans and bills discounted		4,744,248	4,868,089
	Foreign exchanges	2,485	2,996

	Lease receivables and investment assets		28,155	28,708
	Other assets	67,907	81,772

	Tangible fixed assets		34,326	34,038
	Intangible fixed assets	3,320	2,873

	Retirement benefit asset		8,411	9,188
	Deferred tax assets	34,614	37,462

	Customers' liabilities for acceptances and guarantees		12,779	11,472
	Allowance for loan losses	(43,612)	(48,775)

	Allowance for investment loss		(134)	(135)
	Total assets	7,360,564	7,549,675

Liabilities
	Deposits	5,923,978	5,920,671

	Negotiable certificates of deposit		306,743	540,254
	Call money and bills sold	44,665	33,033

	Cash collateral received for securities lent		92,129	70,151
	Borrowed money	563,602	563,506

	Foreign exchanges		41	72
	Other liabilities	78,393	73,940

	Provision for bonuses		948	928
	Retirement benefit liability	8,706	8,615

	Provision for stocks payment		418	385
	Provision for retirement benefits for directors (and	77	92
	other officers)

	Provision for reimbursement of deposits		168	159
	Provision for contingencies	785	875

	Deferred tax liabilities		20	14
	Deferred tax liabilities for land revaluation	2,015	2,004

	Acceptances and guarantees		12,779	11,472
	Total liabilities	7,035,474	7,226,177

		The San-in Godo Bank,Ltd.
		(Millions of yen)
	As of March 31, 2024	As of September 30, 2024

Net assets
Share capital	20,705	20,705

Capital surplus	22,058	22,058
Retained earnings	322,070	327,211

Treasury shares	(2,679)	(4,603)
Total shareholders' equity	362,155	365,371

Valuation difference on available-for-sale securities	(42,381)	(46,045)
Deferred gains or losses on hedges	1,434	187

Revaluation reserve for land	2,251	2,225
Remeasurements of defined benefit plans	1,125	1,268

Total accumulated other comprehensive income	(37,570)	(42,363)
Share acquisition rights	30	30

Non-controlling interests	475	460
Total net assets	325,089	323,498

Total liabilities and net assets	7,360,564	7,549,675

The San-in Godo Bank,Ltd.

Semi-annual Consolidated Statements of Income and Comprehensive Income

Semi-annual Consolidated Statements of Income

		(Millions of yen)
	For the six months	For the six months
	ended September 30, 2023	ended September 30, 2024

Ordinary income	57,588	63,497
Interest income	35,203	42,909

Interest on loans and discounts	24,781	29,270
Interest and dividends on securities	8,470	11,124

Fees and commissions	8,582	9,015
Other ordinary income	8,954	8,255

Other income	4,848	3,316
Ordinary expenses	47,644	51,426

Interest expenses	3,516	5,705
Interest on deposits	596	1,795

Fees and commissions payments	2,294	2,519
Other ordinary expenses	18,715	15,464

General and administrative expenses	20,399	20,473
Other expenses	2,718	7,264

Ordinary profit	9,944	12,070
Extraordinary income	16	110

Gain on disposal of non-current assets	16	110
Extraordinary losses	167	124

Loss on disposal of non-current assets	34	22
Impairment losses	132	101

Profit before income taxes	9,793	12,056
Income taxes - current	3,001	4,493

Income taxes - deferred	151	(788)
Total income taxes	3,152	3,705

Profit	6,641	8,351
Profit (loss) attributable to non-controlling interests	13	(5)

Profit attributable to owners of parent	6,627	8,356

		The San-in Godo Bank,Ltd.
Semi-annual Consolidated Statements of Comprehensive Income
		(Millions of yen)
	For the six months	For the six months
	ended September 30, 2023	ended September 30, 2024

Profit	6,641	8,351
Other comprehensive income

Valuation difference on available-for-sale securities

Deferred gains or losses on hedges

Remeasurements of defined benefit plans, net of tax

Total other comprehensive income

Comprehensive income

Comprehensive income attributable to

Comprehensive income attributable to owners of parent

Comprehensive income attributable to non-controlling interests

(17,172)	(3,671)
6,044	(1,246)

224	143
(10,903)	(4,774)


(4,261)	3,576


(4,278)	3,589

16	(12)

The San-in Godo Bank,Ltd.

Semi-annual Consolidated Statements of Changes in Net Assets

For the six months ended September 30, 2023

					(Millions of yen)

			Shareholders' equity

		Share	Capital	Retained	Treasury			Total
		shareholders'
		capital	surplus	earnings	shares
			equity

Balance at beginning of	20,705	22,058	310,618	(1,847)			351,535
period

Changes during period

Dividends of surplus			(2,643)				(2,643)

Profit attributable to			6,627				6,627
owners of parent

Purchase of treasury				(1,000)			(1,000)
shares

Disposal of treasury			(6)	169			162
shares

Reversal of
revaluation reserve for			50				50
land
Net changes in items
other than
shareholders' equity
Total changes during	-	-	4,027	(831)			3,196
period

Balance at end of period	20,705	22,058	314,646	(2,678)			354,731


			Accumulated other comprehensive income

	Valuation						Total	Share	Non-
	difference	Deferred					Total net
	Revaluation	Remeasurements	accumulated	acquisition	controlling
		on	gains or	assets
		reserve for	of defined		other	rights	interests
	available-	losses on
	land	benefit plans		comprehensive
		for-sale	hedges
						income
	securities

Balance at beginning	(36,842)	(3,020)	2,331	(1,354)	(38,886)	103	455	313,208
of period

Changes during
period
Dividends of											(2,643)
surplus

Profit attributable to											6,627
owners of parent

Purchase of											(1,000)
treasury shares

Disposal of treasury											162
shares

Reversal of
revaluation reserve											50
for land
Net changes in
items other than	(17,175)	6,044	(50)		224		(10,956)	(73)	14	(11,014)
shareholders' equity
Total changes	(17,175)	6,044	(50)		224		(10,956)	(73)	14	(7,818)
during period

Balance at end of	(54,018)	3,024	2,281	(1,129)	(49,842)	30	470	305,389
period

The San-in Godo Bank,Ltd.

For the six months ended September 30, 2024

					(Millions of yen)

			Shareholders' equity

		Share	Capital	Retained	Treasury	Total
		shareholders
		capital	surplus	earnings	shares
		' equity

Balance at beginning of	20,705	22,058	322,070	(2,679)	362,155
period

Changes during period

Dividends of surplus			(3,241)			(3,241)

Profit attributable to			8,356			8,356
owners of parent

Purchase of treasury				(2,001)		(2,001)
shares

Disposal of treasury			-	76		76
shares

Reversal of
revaluation reserve for			25			25
land
Net changes in items
other than
shareholders' equity
Total changes during	-	-	5,140	(1,924)		3,216
period

Balance at end of period	20,705	22,058	327,211	(4,603)	365,371


			Accumulated other comprehensive income

	Valuation					Total	Share	Non-
	difference	Deferred				Total net
	Revaluation	Remeasurements	accumulated	acquisition	controlling
		on	gains or	assets
		reserve for	of defined	other	rights	interests
	available-	losses on
	land	benefit plans	comprehensive
		for-sale	hedges
					income
	securities

Balance at beginning	(42,381)	1,434	2,251	1,125	(37,570)	30	475	325,089
of period

Changes during
period
Dividends of										(3,241)
surplus

Profit attributable to										8,356
owners of parent

Purchase of										(2,001)
treasury shares

Disposal of treasury										76
shares

Reversal of
revaluation reserve										25
for land
Net changes in
items other than	(3,664)	(1,246)	(25)		143	(4,793)	-	(14)	(4,807)
shareholders' equity
Total changes	(3,664)	(1,246)	(25)		143	(4,793)	-	(14)	(1,591)
during period

Balance at end of	(46,045)	187	2,225	1,268	(42,363)	30	460	323,498
period