Gunma Bank : Consolidated Financial Results for the Three Months Ended June 30, 2023(Under Japanese GAAP)(345KB)

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.

August 1, 2023

Consolidated Financial Results

for the Three Months Ended June 30, 2023

(Under Japanese GAAP)

Company name:	The Gunma Bank, Ltd.
Listing:	Tokyo Stock Exchange
Securities code:	8334
URL:	https://www.gunmabank.co.jp/
Representative:	Akihiko Fukai, President
Inquiries:	Hideyuki Saito, Managing Executive Officer and General Manager, Corporate Planning Department

Scheduled date to file quarterly securities report:	August 3, 2023
Trading accounts:	None
Scheduled date to commence dividend payments:	－
Preparation of supplementary material on quarterly financial results:	Yes
Holding of quarterly financial results briefing:	None
	(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the three months ended June 30, 2023 (from April 1, 2023 to June 30, 2023)

(1) Consolidated operating results

(Percentages indicate year-on-year changes.)

Ordinary income

Ordinary profit

Profit attributable to

owners of parent

Three months ended

Millions of yen

%

Millions of yen

%

Millions of yen

%

Jun.30, 2023

54,785

19.0

12,566

5.3

9,016

4.7

Jun.30, 2022

46,031

2.8

11,932

(30.2)

8,612

(24.9)

Note:

Comprehensive income For the three months ended Jun.30, 2023 :

24,656 million

yen

[

―

%]

For the three months ended Jun.30, 2022 :

(18,754) million yen

[

―

%]

Basic earnings

Diluted earnings

per share

per share

Three months ended

Yen

Yen

Jun.30, 2023

22.37

―

Jun.30, 2022

20.97

―

(2) Consolidated financial position

Total assets

Net assets

Equity-to-asset ratio

As of

Millions of yen

Millions of yen

%

Jun.30, 2023

10,752,887

531,883

4.9

Mar.31, 2023

10,662,300

515,810

4.8

Reference: Equity

As of Jun.30, 2023

:

531,883 million yen

As of Mar.31, 2023

:

515,810 million yen

Note:

"Equity-to-asset ratio" represents

"Net assets"/ "Total assets" at term end.

"Equity-to-asset ratio" stated above was not calculated based on the public notice of "Equity-to-asset ratio".

2. Cash dividends

Annual dividends per share

First

Second

Third

Fiscal

Total

quarter-end

quarter-end

quarter-end

year-end

Fiscal year

Yen

Yen

Yen

Yen

Yen

ended

Mar. 31, 2023

―

8.00

―

10.00

18.00

ending Mar. 31, 2024

―

ending Mar. 31, 2024(Forecast)

10.00

―

10.00

20.00

Note:

1. Revisions to the forecast of cash dividends most recently announced: None

2. Fiscal year-end cash dividend of 10.00 yen for the fiscal year ended Mar. 31, 2023 included a commemorative dividend of 1.00 yen for the 90th anniversary of the establishment of the Gunma Bank, Ltd.

3. Consolidated earnings forecast for fiscal year 2023 (from April 1, 2023 to March 31, 2024)

(Percentages indicate year-on-year changes.)

	Ordinary profit		Profit attributable to		Basic earnings
		owners of parent		per share
Fiscal year 2023	Millions of yen		%	Millions of yen		%	Yen
ending Sep.30, 2023	20,000		9.9	14,000		1.5	34.98
ending Mar.31, 2024	40,000		4.4	28,000		0.2	70.20

Note:

Revisions to the forecast of earnings most recently announced: None

Notes
(1)	Changes in significant subsidiaries during the period
(changes in specified subsidiaries resulting in the change in scope of consolidation):	None
(2)	Adoption of accounting treatment specific to the preparation of quarterly consolidated
	financial statements	None
(3)	Changes in accounting policies, changes in accounting estimates, and restatement
	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 Restatement:	None

1. Number of issued shares (common shares)

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

	As of Jun.30, 2023	425,888,177	shares
	As of Mar.31, 2023	425,888,177	shares
② Number of treasury shares at the end of the period
	As of Jun.30, 2023	28,413,174	shares
	As of Mar.31, 2023	19,344,421	shares
③ Average number of shares outstanding during the period
	Three months ended Jun.30, 2023	403,053,674	shares
	Three months ended Jun.30, 2022	410,663,696	shares

• Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
• Proper use of earnings forecasts, and other special matters

･The description of future performance of this report is based on information which is presently available and certain assumptions which are considered to be reasonable, and it does not guarantee future performance. Please take note that future performance may differ from forecasts depending on various future factors.

The Gunma Bank, Ltd.

Consolidated Financial Results for the Three Months Ended June 30, 2023

Table of contents

1. Qualitative information related to the quarterly financial results

(1)	Qualitative information related to the operating results	･････････････････････････････････････････････	2
(2)	Qualitative information related to the financial position	･････････････････････････････････････････････	2
(3)	Qualitative information related to the consolidated earnings forecast, etc ･･･････････････････････････	2

2. Quarterly consolidated financial statements and notes

(1)	Quarterly consolidated balance sheets ････････････････････････････････････････････････････････････	3
(2)	Quarterly consolidated statements of income and comprehensive income ･････････････････････････	5
(3)	Notes to the quarterly consolidated financial statements ･･･････････････････････････････････････････	7
	(Note on going concern assumption) ･･･････････････････････････････････････････････････････････････	7
	(Note on significant changes in the amounts of shareholders' equity) ･･･････････････････････････････	7
	(Additional information) ････････････････････････････････････････････････････････････････････････････	7
Supplementary Information ････････････････････････････････････････････････････････････････････････	8

- 1 -

The Gunma Bank, Ltd.

Consolidated Financial Results for the Three Months Ended June 30, 2023

1. Qualitative information related to the quarterly financial results

1. Qualitative information related to the operating results
   Operating results for the first quarter of the consolidated fiscal year under review were as follows.
   Ordinary income amounted to 54,785 million yen, an increase of 8,754 million yen year-on-year, mainly due to an increase in interest income.
   Ordinary expenses amounted to 42,219 million yen, an increase of 8,120 million yen year-on-year, mainly due to an increase in interest expenses.
   As a result, ordinary profit amounted to 12,566 million yen, an increase of 633 million yen year-on-year.
   Also, profit attributable to owners of parent amounted to 9,016 million yen, an increase of 403 million yen year-on-year.
2. Qualitative information related to the financial position
   The financial position as of the end of the first quarter of the consolidated fiscal year under review was as follows. Total assets increased by 90.5 billion yen to 10,752.8 billion yen during the period under review.
   Total liabilities increased by 74.5 billion yen to 10,221.0 billion yen during the period under review. Also, net assets increased by 16.0 billion yen to 531.8 billion yen during the period under review.
   As for the main accounts, loans and bills discounted increased by 45.6 billion yen to 6,036.9 billion yen during the period under review.
   Securities decreased by 191.0 billion yen to 2,426.2 billion yen during the period under review. Deposits increased by 96.2 billion yen to 8,141.0 billion yen during the period under review.
3. Qualitative information related to the consolidated earnings forecasts, etc
   Consolidated earnings forecasts for the six months ending September 30, 2023 and the fiscal year ending March 31, 2024 remain unchanged from the figures announced on May 10, 2023.

- 2 -

The Gunma Bank, Ltd.

Consolidated Financial Results for the Three Months Ended June 30, 2023

２．Quarterly consolidated financial statements and notes

(1) Quarterly consolidated balance sheets

		(Unit: Millions of yen)
	As of Mar. 31, 2023	As of Jun. 30, 2023
Assets：
Cash and due from banks	1,833,043	2,048,196
Trading securities	541	531
Money held in trust	9,854	12,054
Securities	2,617,250	2,426,242
Loans and bills discounted	5,991,297	6,036,967
Foreign exchanges	10,045	6,949
Lease receivables and investments in leases	60,554	60,616
Other assets	74,120	102,325
Tangible fixed assets	65,013	64,903
Intangible fixed assets	8,053	8,098
Retirement benefit asset	16,963	17,423
Deferred tax assets	13,003	5,649
Customers' liabilities for acceptances and guarantees	8,527	8,069
Allowance for loan losses	(45,967)	(45,140)
Total assets	10,662,300	10,752,887
Liabilities：
Deposits	8,044,837	8,141,090
Negotiable certificates of deposit	199,419	208,873
Call money and bills sold	28,708	82,644
Securities sold under repurchase agreements	86,565	96,051
Cash collateral received for securities lent	723,449	507,240
Borrowed money	926,993	1,035,828
Foreign exchanges	338	279
Bonds payable	50,000	40,000
Borrowed money from trust account	12,988	13,086
Other liabilities	55,774	79,065
Provision for bonuses for directors (and other officers)	56	12
Retirement benefit liability	358	356
Provision for retirement benefits for directors (and other officers)	167	156
Provision for reimbursement of deposits	264	245
Provision for contingent loss	926	887
Reserves under special laws	0	0
Deferred tax liabilities for land revaluation	7,112	7,112
Acceptances and guarantees	8,527	8,069
Total liabilities	10,146,489	10,221,003

- 3 -