Keiyo Bank : (Delayed) Summary of Consolidated Financial Results for the First Quarter of FY 2020

Translation

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

		Summary of Consolidated Financial Results
		for the Three Months Ended June 30, 2020
		(Based on Japanese GAAP)
		July 31, 2020
Company name:	The Keiyo Bank, Ltd.
Stock exchange listing:	Tokyo
Stock code:	8544	URL https://www.keiyobank.co.jp/
Representative:	President	Toshiyuki Kumagai

Inquiries:	General Manager of Accounting	Yukihiko Nezu	TEL [phone]
Corporate Planning Division
Scheduled date to file Quarterly Securities Report:	August 5, 2020
Scheduled date to commence dividend payments:	-
Trading accounts:		No
Preparation of supplementary material on quarterly financial results:	Yes
Holding of quarterly financial results meeting:	No

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the three months ended June 30, 2020 (from April 1, 2020 to June 30, 2020)

(1) Consolidated operating results (cumulative)						Percentages indicate year-on-year changes
	Ordinary income		Ordinary profit	Profit attributable to
		owners of parent
	Millions of yen		%	Millions of yen	%	Millions of yen		%
Three months ended June 30, 2020	16,277		0.5		2,479	(24.1)		1,676		(24.4)
Three months ended June 30, 2019	16,195		(7.6)		3,268	(31.2)		2,219		(31.2)
	Earnings per share	Diluted earnings per share
			Yen				Yen
Three months ended June 30, 2020			12.84				12.79
Three months ended June 30, 2019			16.84				16.80
(2) Consolidated financial position
	Total assets			Net assets		Equity ratio
	Millions of yen		Millions of yen				%
As of June 30, 2020	5,271,690		283,500				5.2
As of March 31, 2020	4,994,723		282,306				5.5
2. Cash dividends
					Annual dividends per share
	1st quarter-end	2nd quarter-end		3rd quarter-end	Fiscal year-end	Total
	Yen			Yen			Yen			Yen	Yen
Year ended March 31, 2020		-			11.00			-			9.00	20.00
Year ending March 31, 2021		-
Year ending March 31, 2021 (Forecast)					9.00			-			9.00	18.00

3. Forecast of consolidated financial results for the year ending March 31, 2021 (from April 1, 2020 to March 31, 2021)

Percentages indicate year-on-year changes

	Ordinary profit	Profit attributable to	Earnings per share
	owners of parent
Six months ending	Millions of yen	%	Millions of yen	%	Yen
3,500	(43.6)	2,200	(47.8)	16.84
September 30, 2020
Full year	7,900	(3.4)	5,100	(8.3)	39.04

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4. Notes

1. Changes in significant subsidiaries during the three months ended June 30, 2020 (changes in specified subsidiaries resulting in the change in scope of consolidation):
2. Application of special accounting methods for preparing quarterly consolidated financial statements:

No

Yes

(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:	No
Changes in accounting policies due to other reasons:	No
Changes in accounting estimates:	No
Restatement of prior period financial statements:	No

(4) Number of issued shares (common shares)

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

	As of June 30, 2020	138,927,858	shares	As of March 31, 2020	138,927,858	shares
Number of treasury shares at the end of the period
	As of June 30, 2020	8,263,645	shares	As of March 31, 2020	8,394,348	shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
	Three months ended June 30, 2020	130,534,869	shares	Three months ended June 30, 2019	131,747,929	shares

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Quarterly consolidated financial statements

Consolidated balance sheets

			(Millions of yen)
		As of March 31, 2020	As of June 30, 2020
Assets
Cash and due from banks	250,132	437,704
Call loans and bills bought	3,980	7,190
Trading account securities	3,931	3,928
Securities	933,367	961,969
Loans and bills discounted	3,694,413	3,748,312
Foreign exchanges	3,498	7,456
Other assets	39,748	42,120
Tangible fixed assets	61,313	60,724
Intangible fixed assets	6,222	6,508
Deferred tax assets	6,809	6,587
Customers' liabilities for acceptances and guarantees	3,940	3,646
Allowance for loan losses	(12,635)	(14,458)
Total assets	4,994,723	5,271,690
Liabilities
Deposits	4,665,243	4,884,473
Negotiable certificates of deposit	17,000	17,000
Borrowed money	-	64,900
Foreign exchanges	135	140
Other liabilities	15,242	8,259
Provision for bonuses	1,307	426
Provision for bonuses for directors (and other officers)	61	11
Retirement benefit liability	2,507	2,451
Provision for retirement benefits for directors (and other	2	2
officers)
Provision for loss on interest repayment	5	5
Provision for reimbursement of deposits	799	754
Provision for contingent loss	1,165	1,041
Deferred tax liabilities	363	436
Deferred tax liabilities for land revaluation	4,639	4,639
Acceptances and guarantees	3,940	3,646
Total liabilities	4,712,416	4,988,190
Net assets
Share capital	49,759	49,759
Capital surplus	39,704	39,704
Retained earnings	171,957	172,434
Treasury shares	(8,432)	(8,301)
Total shareholders' equity	252,989	253,598
Valuation difference on available-for-sale securities	20,065	20,473
Revaluation reserve for land	7,198	7,198
Remeasurements of defined benefit plans	(2,744)	(2,633)
Total accumulated other comprehensive income	24,519	25,038
Share acquisition rights	346	259
Non-controlling interests	4,451	4,603
Total net assets	282,306	283,500
Total liabilities and net assets		4,994,723	5,271,690

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Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Consolidated statements of income (cumulative)

		(Millions of yen)
	Three months ended	Three months ended
	June 30, 2019	June 30, 2020
Ordinary income	16,195	16,277
Interest income	12,343	12,103
Interest on loans and discounts	9,176	8,940
Interest and dividends on securities	3,021	3,045
Fees and commissions	2,894	2,552
Other ordinary income	302	425
Other income	654	1,195
Ordinary expenses	12,927	13,798
Interest expenses	197	202
Interest on deposits	119	95
Fees and commissions payments	1,373	1,437
Other ordinary expenses	4	19
General and administrative expenses	9,201	9,130
Other expenses	2,150	3,007
Ordinary profit	3,268	2,479
Extraordinary losses	33	29
Loss on disposal of non-current assets	33	29
Profit before income taxes	3,235	2,449
Income taxes	982	749
Profit	2,252	1,699
Profit attributable to non-controlling interests	33	23
Profit attributable to owners of parent	2,219	1,676

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Consolidated statements of comprehensive income (cumulative)

		(Millions of yen)
	Three months ended	Three months ended
	June 30, 2019	June 30, 2020
Profit	2,252	1,699
Other comprehensive income	(1,322)	652
Valuation difference on available-for-sale securities	(1,389)	541
Remeasurements of defined benefit plans, net of tax	66	110
Comprehensive income	930	2,352
Comprehensive income attributable to
Comprehensive income attributable to owners of parent	837	2,195
Comprehensive income attributable to non-controlling	92	156
interests

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