Consolidated Financial Results for the First Half of Fiscal Year 2021

November 9, 2021

Resona Holdings, Inc.

Consolidated Financial Results for the First Half of Fiscal Year 2021

(Six months ended September 30, 2021/ Unaudited)

Code number: 8308		Stock exchange listings:	Tokyo
URL: https://www.resona-gr.co.jp/holdings/english/index.html
Representative: Masahiro Minami, Director, President and Representative Executive Officer
Contact: Hiroshi Saito, General Manager, Finance and Accounting Division	Telephone: [phone]
Quarterly securities report issuing date:	November 19, 2021	Dividends payment date:	December 8, 2021
Supplemental information for the financial results: Available	Trading accounts:	Established
Quarterly investor meeting presentation:	Scheduled (for institutional investors and analysts)

Note: Amounts of less than one million yen are rounded down.

1. Consolidated Financial Results for the First Half of Fiscal Year 2021 (April 1, 2021- September 30, 2021)

(1)	Consolidated Operating Results				(% represents the change from the same period in previous fiscal year)
			Ordinary Income			Ordinary Profits		Net Income Attributable to
						Owners of Parent
			Million yen	%				Million yen	%			Million yen	%
		1H of FY2021	413,193	( 8.2 )		117,598	( 39.2 )		80,837	( 43.3 )
		1H of FY2020	381,925	( -11.4 )		84,488	( -25.0 )		56,395	( -26.7 )
	Note: Comprehensive Income: 1H of FY2021: 121,513 million yen (-33.3%) 1H of FY2020: 182,082 million yen (285.9%)
			Net Income per Share of			Diluted Net Income per
			Common Stock			Share of Common Stock
			Yen					Yen
		1H of FY2021	33.10				33.09
		1H of FY2020	24.54				24.54
(2)	Consolidated Financial Conditions
			Total Assets			Net Assets		Net Assets Attributable to
						Stockholders to
												Total Assets Ratio
			Million yen			Million yen		%
	September 30, 2021	75,309,781				2,572,918			3.4
		March 31, 2021	73,697,682				2,519,645			3.1
(Reference) Net Assets Attributable to Stockholders: September 30, 2021: 2,555,852 million yen	March 31, 2021: 2,317,265 million yen

Note: Net Assets Attributable to Stockholders to Total Assets Ratio is calculated at (Net assets at period-end minus Share award rights at period-end minus Stock acquisition rights at period-end minus Non-controlling interests at period-end) divided by Total assets at period-end. This ratio is not capital adequacy ratio defined in the "Notification on Consolidated Capital Adequacy."

2. Dividends on Common Stock

Dividends per Share

	1st	2nd	3rd	Fiscal	Total
	Quarter-end	Quarter-end	Quarter-end	Year-end
	Yen	Yen	Yen	Yen	Yen
FY2020	-	10.50	-	10.50	21.00
FY2021	-	10.50
FY2021(Forecast)			-	10.50	21.00
Note: Revision of forecasts for dividends from the latest announcement: No

3. Earnings Targets for Fiscal Year 2021 (April 1, 2021 - March 31, 2022)

			(% represents the change from the previous fiscal year)
	Net Income Attributable to		Net Income per Share of Common Stock
		Owners of Parent
	Million yen	%		Yen
FY2021 (Full year)	145,000	16.5		59.66

Notes: 1. Revision of earnings targets from the latest announcement: No

2. The Group provides financial services, including credit card administration, etc. in addition to the banking and trust asset management and a variety of uncertainty caused by the economic environment, such as a negative interest rate introduced by the Bank of Japan, spread of COVID-19, exists in the financial operation. Therefore, the Company discloses "Earnings targets" instead of "Earnings forecasts."

Resona Holdings, Inc.

Financial Results for 1H of FY2021

※ Other

(1) Changes in significant subsidiaries during the period :	No
New	: Not applicable
Excluded	: Not applicable

(2) Changes in Accounting Policies, Changes in Accounting Estimates and Restatements

A) Changes due to revision of accounting standards	:	Yes
B) Changes due to other reasons	:	No
C) Changes in accounting estimates	:	No
D) Restatements	:	No

Note: For more details, please refer to "Consolidated Financial Statements (5) Changes in Accounting Policies" on page 6 of the attachment

1. Number of Shares of Common Stock Outstanding
2. 1. Total outstanding shares including treasury stock at the end of the period

September 30, 2021	:	2,424,042,866 shares
March 31, 2021	:	2,302,829,191 shares

1. Treasury stock at the end of the period

September 30, 2021	:	4,764,664 shares
March 31, 2021	:	5,837,458 shares
C) Average outstanding shares during the period
1H of FY2021	:	2,441,911,879 shares
1H of FY2020	:	2,297,365,790 shares

Note: Treasury stock at the end of the period included the stocks owned by ESOP-type Stock Benefit Trust for the Employee

Shareholding Association.		3,789,600 shares
September 30, 2021	:
March 31, 2021	:	4,840,100 shares
Forecasted average number of shares of common stock (excluding treasury stock):	2,430,626,046 shares

Note: This Consolidated Financial Results is not subject to audit by Certified Public Accountants or Audit Firm.

Note: Disclaimer regarding Forward-looking Statements

This report contains forward-looking statements, which are based on the information currently available and certain assumptions the Company considers to be reasonable. Risks, uncertainties and other factors may cause actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements.

Resona Holdings does not revise the full year targets announced in May 2021, at this point in time.

Note: How to get supplemental information for the financial results

Supplemental information for the financial results is disclosed through TD net.

The presentation video and materials of the investor relations meeting for institutional investor or analyst will be posted on the web site on November 18, 2021.

Resona Holdings, Inc.

Financial Results for 1H of FY2021

《Contents of Attachment》

• Consolidated Financial Statements
• 1. Consolidated Balance Sheets………………………………….………………………………………………………. 2
  2. Consolidated Statements of Income and Consolidated Statements of Comprehensive Income……………….. 3
  3. Consolidated Statements of Changes in Net Assets………………………………..………………………………. 4
  4. Note on Going-Concern Assumption………………………………………………………………………………..... 6
  5. Changes in Accounting Policies …………………………………………………………………………………....... 6
  6. Significant Subsequent Event …………………………………………………………………………………........... 6

[Reference Sheet]

Statements of Trust Assets and Liabilities……………………………………………………………………..………. 7

(Supplementary Explanatory Material) Reference Materials for the First Half of FY2021

1

Resona Holdings, Inc.

Financial Results for 1H of FY2021

Consolidated Financial Statements

(1) Consolidated Balance Sheets

				(Millions of yen)
	March 31, 2021	September 30, 2021
Assets
Cash and due from banks	¥	25,223,147	¥	25,463,604
Call loans and bills bought		107,242		294,684
Monetary claims bought		221,739		229,848
Trading assets		231,695		206,039
Securities		7,147,733		8,009,592
Loans and bills discounted		38,978,959		39,306,663
Foreign exchange assets		139,436		154,073
Lease receivables and investments in leases		36,559		35,183
Other assets		965,192		960,946
Tangible fixed assets		361,178		359,333
Intangible fixed assets		53,339		54,356
Net defined benefit asset		43,949		46,686
Deferred tax assets		29,728		26,286
Customers' liabilities for acceptances and guarantees		347,904		355,598
Reserve for possible loan losses		(190,088)		(193,102)
Reserve for possible losses on investments		(36)		(13)
Total Assets	¥	73,697,682	¥	75,309,781
Liabilities and Net Assets
Liabilities
Deposits	¥	58,691,223	¥	58,550,980
Negotiable certificates of deposit		739,170		1,315,230
Call money and bills sold		630,895		1,399,246
Payables under repurchase agreements		3,000		5,000
Payables under securities lending transactions		1,064,481		1,205,839
Trading liabilities		39,626		36,418
Borrowed money		7,218,168		7,622,694
Foreign exchange liabilities		8,025		8,574
Bonds		326,000		261,000
Due to trust account		1,304,346		1,135,937
Other liabilities		663,699		689,954
Reserve for employees' bonuses		18,650		15,524
Net defined benefit liability		15,371		14,457
Other reserves		34,643		33,436
Deferred tax liabilities		54,613		68,762
Deferred tax liabilities for land revaluation		18,216		18,206
Acceptances and guarantees		347,904		355,598
Total Liabilities		71,178,037		72,736,863
Net Assets
Capital stock		50,552		50,552
Capital surplus		15,769		159,404
Retained earnings		1,796,476		1,849,599
Treasury stock		(2,478)		(1,866)
Total stockholders' equity		1,860,319		2,057,690
Net unrealized gains on available-for-sale securities		442,901		484,409
Net deferred gains on hedges		10,671		6,662
Revaluation reserve for land		39,702		39,679
Foreign currency translation adjustments		(5,851)		(3,982)
Remeasurements of defined benefit plans		(30,478)		(28,607)
Total accumulated other comprehensive income		456,946		498,161
Stock acquisition rights		279		263
Non-controlling interests		202,099		16,802
Total Net Assets		2,519,645		2,572,918
Total Liabilities and Net Assets	¥	73,697,682	¥	75,309,781

2

Resona Holdings, Inc.

Financial Results for 1H of FY2021

1. Consolidated Statements of Income and Consolidated Statements of Comprehensive Income [Consolidated Statements of Income]

				(Millions of yen)
	First Half of FY2020	First Half of FY2021
	From April 1, 2020	From April 1, 2021
	to September 30, 2020	to September 30, 2021
Ordinary income	¥	381,925	¥	413,193
Interest income		214,895		220,337
Interest on loans and bills discounted		178,964		177,189
Interest and dividends on securities		23,573		27,472
Trust fees		9,287		10,173
Fees and commissions		113,302		127,382
Trading income		3,173		1,512
Other operating income		24,434		19,114
Other ordinary income		16,833		34,674
Ordinary expenses		297,437		295,595
Interest expenses		10,406		6,272
Interest on deposits		5,351		3,726
Fees and commissions		29,075		31,997
Trading expenses		31		37
Other operating expenses		8,181		17,012
General and administrative expenses		212,865		212,201
Other ordinary expenses		36,876		28,074
Ordinary profits		84,488		117,598
Extraordinary gains		841		348
Gains on disposal of fixed assets		841		348
Extraordinary losses		1,093		1,552
Losses on disposal of fixed assets		495		616
Impairment losses on fixed assets		598		935
Income before income taxes		84,236		116,394
Income taxes - current		24,676		34,228
Income taxes - deferred		(83)		1,622
Total income taxes		24,593		35,851
Net income		59,643		80,543
Net income attributable to non-controlling interests		3,247		(294)
Net income attributable to owners of parent	¥	56,395	¥	80,837
[Consolidated Statements of Comprehensive Income]
				(Millions of yen)
	First Half of FY2020	First Half of FY2021
	From April 1, 2020	From April 1, 2021
	to September 30, 2020	to September 30, 2021
Net income	¥	59,643	¥	80,543
Other comprehensive income		122,439		40,970
Net unrealized gains (losses) on available-for-sale securities		124,956		39,194
Net deferred gains (losses) on hedges		(3,192)		(4,002)
Foreign currency translation adjustments		(3,586)		2,318
Remeasurements of defined benefit plans		4,225		3,432
Share of other comprehensive income of affiliates accounted for using
the equity method		36		27
Total comprehensive income
¥	182,082	¥	121,513
Total comprehensive income attributable to:
Owners of parent	¥	175,466	¥	121,358
Non-controlling interests	¥	6,616	¥	154

3