Resona : Consolidated Financial Results for 1Q of FY2020

July 31, 2020

Resona Holdings, Inc.

Consolidated Financial Results for the First Quarter of Fiscal Year 2020

(Three months ended June 30, 2020/ 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:		August 7, 2020	Dividends payment date:	-
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 Quarter of Fiscal Year 2020 (April 1, 2020- June 30, 2020)
(1) Consolidated Operating Results					(% represents the change from the previous fiscal year)
		Ordinary Income	Ordinary Profits		Net Income Attributable to
				Owners of Parent
		Million yen		%		Million yen	%			Million yen		%
1Q of FY2020		182,750	(	-8.1 )		31,769	( -37.3 )				21,821	(	-40.6 )
1Q of FY2019		198,839	(	0.2 )		50,702	( 9.1 )				36,706	(	-47.5 )

Note: Comprehensive Income: 1Q of FY2020: 111,125 million yen (1,939.3%) 1Q of FY2019: (6,041) million yen (-107.2%)

	Net Income per Share of		Diluted Net Income per
	Common Stock		Share of Common Stock
	Yen		Yen
1Q of FY2020	9.49	9.49
1Q of FY2019	15.89	15.89
(2) Consolidated Financial Conditions
	Total Assets		Net Assets			Net Assets Attributable to
				Stockholders to Total Assets
						Ratio
	Million yen		Million yen		%
June 30, 2020	63,541,920		2,401,198			3.4
March 31, 2020	60,512,454		2,316,543			3.4
(Reference) Net Assets Attributable to Stockholders: June 30, 2020: 2,164,031 million yen	March 31, 2020: 2,078,335 million yen

Note: Net Assets Attributable to Stockholders to Total Assets Ratio is calculated at (Net assets at fiscal year-end minus Stock acquisition rights at fiscal year-end minus Non-controlling interests at fiscal year-end) divided by Total assets at fiscal year-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
FY2019	-	10.50	-	10.50	21.00
FY2020	-
FY2020(Forecast)		10.50	-	10.50	21.00
Note: Revision of forecasts for dividends from the latest announcement: No

3. Earnings Targets for Fiscal Year 2020 (April 1, 2020 - March 31, 2021)

			(% 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
FY2020 (Full year)	120,000	( -21.3 )		52.21

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 1Q of FY2020

4. Other

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

1. Adoption of any particular accounting methods for quarterly consolidated financial statements: No
2. Changes in Accounting Policies, Changes in Accounting Estimates and Restatements

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

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

June 30, 2020	:	2,302,411,491 shares
March 31, 2020	:	2,324,118,091 shares

1. Treasury stock at the end of the period

June 30, 2020	:	4,016,592 shares
March 31, 2020	:	26,619,119 shares
C) Average outstanding shares during the period
1Q of FY2020	:	2,297,754,588 shares
1Q of FY2019	:	2,309,810,178 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.		3,025,100 shares
June 30, 2020	:
March 31, 2020	:	3,922,300 shares
Forecasted average number of shares of common stock (excluding treasury stock):	2,298,275,072 shares

Note: Status of the quarterly review process

This report is out of the scope of the external auditor's review procedure which is required by "Financial Instruments and Exchange Act."

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 2020, at this point in time.

Resona Holdings, Inc.

Financial Results for 1Q of FY2020

《Contents of Attachment》

1. Consolidated Financial Statements

1. Consolidated Balance Sheets……………………………………………………………………………. 2
2. Consolidated Statements of Income and Consolidated Statements of Comprehensive Income…. 3
3. Note on Going-Concern Assumption……………………………………………………………………. 4
4. Note for Significant Changes in the Amount of Stockholders' Equity………………………………… 4

[Reference Sheet]

Statements of Trust Assets and Liabilities…………………………………………………………………….. 5

(Supplementary Explanatory Material)

Reference Materials for the First Quarter of FY2020

- 1 -

Resona Holdings, Inc.

Financial Results for 1Q of FY2020

1. Consolidated Financial Statements

(1) Consolidated Balance Sheets

				(Millions of yen)
	March 31, 2020		June 30, 2020
Assets	¥	15,329,523	¥	16,155,295
Cash and due from banks
Call loans and bills bought		473,438		492,194
Receivables under securities borrowing transactions		－		221,911
Monetary claims bought		248,548		239,434
Trading assets		457,391		502,721
Securities		5,555,671		5,973,923
Loans and bills discounted		36,645,552		37,949,006
Foreign exchange assets		107,460		109,858
Leasing receivables and investments in leases		40,630		38,725
Other assets		964,312		1,181,673
Tangible fixed assets		369,790		366,821
Intangible fixed assets		49,770		49,566
Net defined benefit asset		32,510		32,864
Deferred tax assets		35,385		32,811
Customers' liabilities for acceptances and guarantees		362,725		366,552
Reserve for possible loan losses		(160,221)		(171,405)
Reserve for possible losses on investments		(35)		(36)
Total Assets	¥	60,512,454	¥	63,541,920
Liabilities and Net Assets
Liabilities
Deposits	¥	52,909,979	¥	55,425,698
Negotiable certificates of deposit		942,840		810,280
Call money and bills sold		69,636		146,541
Payables under repurchase agreements		－		5,000
Payables under securities lending transactions		532,433		444,810
Trading liabilities		87,259		78,916
Borrowed money		769,930		1,524,698
Foreign exchange liabilities		5,076		5,345
Bonds		396,000		376,000
Due to trust account		1,316,807		1,187,723
Other liabilities		700,746		641,803
Reserve for employees' bonuses		17,509		7,629
Net defined benefit liability		22,709		21,408
Other reserves		38,209		36,649
Deferred tax liabilities		5,607		43,283
Deferred tax liabilities for land revaluation		18,439		18,379
Acceptances and guarantees		362,725		366,552
Total Liabilities		58,195,910		61,140,722
Net Assets
Capital stock		50,472		50,472
Retained earnings		1,720,062		1,707,224
Treasury stock		(12,880)		(2,176)
Total stockholders' equity		1,757,655		1,755,520
Net unrealized gains on available-for-sale securities		306,196		398,718
Net deferred gains on hedges		16,619		14,807
Revaluation reserve for land		40,209		40,073
Foreign currency translation adjustments		(1,942)		(6,673)
Remeasurements of defined benefit plans		(40,402)		(38,414)
Total accumulated other comprehensive income		320,680		408,511
Stock acquisition rights		297		292
Non-controlling interests		237,910		236,874
Total Net Assets		2,316,543		2,401,198
Total Liabilities and Net Assets	¥	60,512,454	¥	63,541,920

-2-

Resona Holdings, Inc.

Financial Results for 1Q of FY2020

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

	(Millions of yen)
First Quarter of FY2019	First Quarter of FY2020
From April 1, 2019	From April 1, 2020
to June 30, 2019	to June 30, 2020

Ordinary income

Interest income

Interest on loans and bills discounted

Interest and dividends on securities

Trust fees

Fees and commissions

Trading income

Other operating income

Other ordinary income

Ordinary expenses

Interest expenses

Interest on deposits

Fees and commissions

Trading expenses

Other operating expenses

General and administrative expenses

Other ordinary expenses

Ordinary profits

Extraordinary gains

Gains on disposal of fixed assets

Extraordinary losses

Losses on disposal of fixed assets

Impairment losses on fixed assets

Income before income taxes

Income taxes - current

Income taxes - deferred

Total income taxes

Net income

Net income attributable to non-controlling interests Net income attributable to owners of parent

[Consolidated Statements of Comprehensive Income]

¥	198,839	¥	182,750
	116,420		105,870
	93,646		88,923
	13,781		10,847
	4,558		4,492
	53,319		48,984
	747		969
	16,211		13,426
	7,581		9,005
	148,137		150,980
	13,197		5,843
	5,299		2,851
	10,006		9,558
	66		36
	8,483		3,635
	106,497		106,313
	9,885		25,593
	50,702		31,769
	931		791
	931		791
	327		513
	179		268
	147		244
	51,306		32,048
	8,322		8,398
	5,125		502
	13,448		8,901
	37,858		23,146
	1,151		1,325
¥	36,706	¥	21,821

(Millions of yen)

	First Quarter of FY2019	First Quarter of FY2020
	From April 1, 2019	From April 1, 2020
		to June 30, 2019		to June 30, 2020
Net income	¥	37,858	¥	23,146
Other comprehensive income		(43,899)		87,979
Net unrealized gains (losses) on available-for-sale securities		(45,519)		95,761
Net deferred gains (losses) on hedges		(1,599)		(1,809)
Foreign currency translation adjustments		1,683		(8,123)
Remeasurements of defined benefit plans		1,525		2,128
Share of other comprehensive income of affiliates accounted for using
the equity method		9		22
Total comprehensive income	¥	(6,041)	¥	111,125
Comprehensive income attributable to:	¥	(7,353)	¥	109,788
Owners of parent
Non-controlling interests		1,312		1,337

-3-

Resona Holdings, Inc.

Financial Results for 1Q of FY2020

1. Note on Going-Concern Assumption Not applicable
2. Note for Significant Changes in the Amount of Stockholders' Equity For the First Quarter of Fiscal Year 2020 (April 1, 2020- June 30, 2020)

									(Millions of yen)
	Capital stock	Capital surplus		Retained	Treasury stock		Total
		stockholders'
		earnings
									equity
Balance at the beginning of the fiscal year	¥	50,472	¥	－	¥	1,720,062	¥	(12,880)	¥	1,757,655
Cumulative effect due to revision of
accounting standards for foreign						(454)				(454)
subsidiaries
Restated balance		50,472		－		1,719,607		(12,880)		1,757,200
Changes during the term
Dividends paid						(24,164)				(24,164)
Net income attributable to owners of						21,821				21,821
parent
Purchase of treasury stock								(0)		(0)
Disposal of treasury stock				(0)				501		501
Cancellation of treasury stock				(10,202)				10,202		－
Reversal of revaluation reserve for land						135				135
Change in ownership interest of parent
due to transactions with non-controlling				26						26
interests
Transfer from retained earnings to capital				10,175		(10,175)				－
surplus
Total changes during the term		－		－		(12,383)		10,703		(1,680)
Balance at the end of the term	¥	50,472	¥	－	¥	1,707,224	¥	(2,176)	¥	1,755,520

-4-

Resona Holdings, Inc.

Financial Results for 1Q of FY2020

[Reference]

Statement of Trust Assets and Liabillities

Assets

	March 31, 2020		June 30, 2020
	Million yen		%	Million yen		%
Loans and bills discounted	¥ 20,258		0.07	¥ 19,364		0.07
Securities	10		0.00	20		0.00
Beneficiary rights	26,421,680		92.87	26,634,284		93.50
Securities held in custody account	18,480		0.06	18,164		0.06
Monetary claims	249,339		0.88	227,015		0.80
Tangible fixed assets	353,085		1.24	331,040		1.16
Intangible fixed assets	2,876		0.01	2,876		0.01
Other claims	6,081		0.02	6,052		0.02
Due from banking account	1,316,807		4.63	1,187,723		4.17
Cash and due from banks	61,985		0.22	59,757		0.21
Total assets	¥ 28,450,605		100.00	¥ 28,486,300		100.00

Liabilities

	March 31, 2020		June 30, 2020
	Million yen	%	Million yen	%
Money trusts	¥ 11,761,385	41.34	¥ 11,903,987	41.79
Pension trusts	2,492,350	8.76	2,398,651	8.42
Property formation benefit trusts	1,088	0.00	1,102	0.00
Securities investment trusts	13,008,876	45.73	13,039,799	45.78
Money entrusted, other than money trusts	284,816	1.00	292,285	1.03
Securities trusts	18,482	0.06	18,166	0.06
Monetary claims trusts	256,322	0.90	233,737	0.82
Land and fixtures trusts	20,058	0.07	6,072	0.02
Composite trusts	607,224	2.14	592,498	2.08
Total liabilities	¥ 28,450,605	100.00	¥ 28,486,300	100.00

Notes:1. Figures in the above table exclude trusts whose monetary value cannot be reliably estimated.

2. Subsidiaries subject to aggregation are Resona Bank, Limited and Saitama Resona Bank, Limited.

-5-

Resona Holdings, Inc.

Financial Information for 1Q of FY2020

Reference Material for the First Quarter of FY2020

	[Contents]
1.	Statements of income	Page 1-3
2.	Claims disclosure according to the Financial Reconstruction Act	Page 4
3.	Unrealized gains/(losses) on marketable securities	Page 5
4.	Balance of deposits and loans	Page 6
Domestic breakdown of individual, corporate and other deposits	Page 7
Balance of investment trust and other investment products for individual customers	Page 7

Note 1: Figures reported herein are unaudited.

Note 2: Capital adequacy ratio will be announced soon after the calculation is completed.

[Total of group banks under Resona Holdings (Resona HD)]

Sum of non-consolidated figures for Resona Bank (including the trust account), Saitama Resona Bank, and total of banks under Kansai Mirai Financial Group

[Total of banks under Kansai Mirai Financial Group (KMFG)]

Sum of non-consolidated figures for Kansai Mirai Bank and Minato Bank

Resona Holdings, Inc.

Financial Information for 1Q of FY2020

1. Statements of income

(1)Resona Holdings (Consolidated)						(Millions of yen)
						1Q			1Q
						Change
						FY 2020		FY 2019
Ordinary income			1	182,750	(16,089)		198,839
Gross operating profit			2	154,671	(4,833)		159,504
	Interest income			3	100,027	(3,195)		103,223
	Trust fees（after disposal of problem loans in the trust account）	4	4,492	(66)		4,558
		5	10	-		10
	Fees and commissions		6	39,426	(3,885)		43,312
	Trading income			7	932	251		681
	Other operating income		8	9,791	2,063		7,728
Expenses(excluding non-recurring items)	9	(103,094)	863		(103,958)
	Personnel expenses		10	(50,124)	239		(50,364)
	Non-personnel expenses		11	(45,515)	705		(46,220)
	Taxes			12	(7,455)	(81)		(7,373)
Actual net operating profit (2-5+9+19)		13	51,722	(3,946)		55,669
Provision to general reserve for possible loan losses	14	(4,243)	(9,573)		5,330
Other gains/(losses), net		15	(15,563)	(5,389)		(10,173)
	Net gains/(losses) on stocks		16	857	(432)		1,290
	Disposal of problem loans		17	(13,637)	(3,403)		(10,233)
	Reversal of credit expenses		18	1,881	(408)		2,290
	Equity in earnings of investments in affiliates	19	156	22		133
	Ordinary profit			20	31,769	(18,932)		50,702
Extraordinary gains			21	791	(139)		931
Extraordinary losses			22	(513)	(185)		(327)
Income before income taxes		23	32,048	(19,257)		51,306
Income taxes - current			24	(8,398)	(76)		(8,322)
Income taxes - deferred		25	(502)	4,622		(5,125)
Net income			26	23,146	(14,711)		37,858
Net income attributable to non-controlling interests	27	(1,325)	(174)		(1,151)
	Kansai Mirai Financial Group		28	(933)	120		(1,053)
Net income attributable to owners of parent	29	21,821	(14,885)		36,706
Credit expense (5+14+17+18)		30	(15,989)	(13,386)		(2,602)
	Disposal of problem loans in the trust account	31	10	-		10
	Provision to general reserve for possible loan losses	32	(4,243)	(9,573)		5,330
	Write-off of loans			33	(3,172)	(1,434)		(1,737)
	Provision to specific reserve for possible loan losses	34	(10,115)	(2,134)		(7,980)
	Provision to special reserve for certain overseas loans	35	(0)	(0)		0
	Other disposal of problem loans		36	(349)	165		(515)
	Gains on recoveries of written-off loans	37	1,881	(408)		2,290
○ ROE							(%)
						1Q			1Q
						Change
						FY 2020		FY 2019
ROE based on net income attributable to owners of parent		4.98	(3.87)		8.85
Note:		Net income attributable to owners of parent (1Q)×365/91
ROE=
	(Total stockholders' equity at beginning of period + Total stockholders' equity at end of period )/2

-1-

Resona Holdings, Inc.

Financial Information for 1Q of FY2020

(2)Total of group banks under Resona HD, Non-consolidated figures of each bank		(Millions of yen)
					Total of group banks	Resona Bank
					under Resona HD
					[Non-consolidated]
					1Q		1Q	1Q			1Q
					FY 2020	Change	FY 2019	FY 2020	Change		FY 2019
Gross operating profit	(2+5+7+8+9)	1	141,012	(4,887)	145,900	81,301	(2,123)		83,425
	Interest income			2	98,305	(3,351)	101,657	51,343	(3,001)		54,344
	Net interest income from domestic loans and deposits	3	84,076	(2,368)	86,445	42,700	(1,212)		43,912
	Gains/(losses) on cancellation of investment trusts	4	1,226	799	427	(452)	(452)		-
	Trust fees (after disposal of problem loans in trust account)		5	4,492	(66)	4,559	4,492	(66)		4,559
			6	10	-	10	10	-		10
	Fees and commissions			7	27,939	(3,632)	31,572	17,082	(2,617)		19,700
	Trading income			8	917	266	650	917	266		650
	Other operating income			9	9,356	1,896	7,460	7,465	3,294		4,170
	Net gains/(losses) on bonds			10	6,958	314	6,643	5,895	2,311		3,583
	Expenses (excluding non-recurring items and amortization of goodwill)	11	(96,913)	1,196	(98,110)	(51,550)	629		(52,179)
	Personnel expenses			12	(43,493)	771	(44,264)	(21,963)	203		(22,167)
	Non-personnel expenses			13	(46,353)	498	(46,852)	(25,902)	431		(26,333)
	Taxes			14	(7,066)	(72)	(6,994)	(3,685)	(5)		(3,679)
Actual net operating profit (excluding amortization of goodwill) (1+11-6)	15	44,088	(3,690)	47,779	29,741	(1,494)		31,235
Core net operating profit		(15-10)	16	37,130	(4,004)	41,135	23,845	(3,805)		27,651
Core net operating profit		(16-4)	17	35,903	(4,804)	40,708	24,298	(3,353)		27,651
(excluding gains/(losses) on cancellation of investment trusts)
Amortization of goodwill			18	(184)	-	(184)	-	-		-
Actual net operating profit (including amortization of goodwill) (15+18)	19	43,904	(3,690)	47,595	29,741	(1,494)		31,235
Provision to general reserve for possible loan losses		20	(4,364)	(8,119)	3,755	(2,053)	(2,053)		-
Net operating profit	(1+11+18+20)	21	39,550	(11,809)	51,360	27,698	(3,547)		31,245
Other gains/(losses), net			22	(12,006)	(5,090)	(6,915)	(12,581)	(13,687)		1,106
	Net gains/(losses) on stocks			23	2,487	1,216	1,270	(1,034)	(1,394)		359
	Gains on sale			24	6,726	4,749	1,977	2,784	1,840		943
	Losses on sale			25	(4,091)	(3,539)	(552)	(3,672)	(3,199)		(473)
	Losses on devaluation			26	(146)	7	(154)	(145)	(35)		(110)
	Disposal of problem loans			27	(11,768)	(4,176)	(7,592)	(10,156)	(8,460)		(1,696)
	Reversal of credit expenses			28	1,744	(930)	2,674	817	(1,413)		2,230
	Other			29	(4,469)	(1,200)	(3,269)	(2,208)	(2,419)		211
Ordinary profit		(21+22)	30	27,543	(16,900)	44,444	15,116	(17,235)		32,351
Extraordinary gains/(losses), net			31	477	395	82	(297)	(233)		(63)
	Net gains/(losses) on disposal of fixed assets			32	722	492	229	(133)	(69)		(63)
	Impairment losses on fixed assets			33	(244)	(97)	(147)	(164)	(164)		-
Net Income before income taxes		(30+31)	34	28,021	(16,505)	44,526	14,818	(17,469)		32,287
Income taxes-current			35	(11,247)	666	(11,913)	(8,827)	(353)		(8,474)
Income taxes-deferred			36	3,674	3,459	214	5,003	4,617		385
Net income	(34+35+36)	37	20,448	(12,379)	32,828	10,994	(13,205)		24,199
Credit expense	(6+20+27+28)	38	(14,378)	(13,226)	(1,152)	(11,382)	(11,926)		544
	Disposal of problem loans in the trust account			39	10	-	10	10	-		10
	Provision to general reserve for possible loan losses		40	(4,364)	(9,759)	5,395	(2,053)	(3,743)		1,690
	Write-off of loans			41	(3,161)	(1,538)	(1,622)	(2,376)	(1,140)		(1,236)
	Provision to specific reserve for possible loan losses		42	(8,257)	(1,566)	(6,690)	(7,409)	(5,970)		(1,439)
	Provision to special reserve for certain overseas loans		43	(0)	(0)	0	(0)	(0)		0
	Other disposal of problem loans			44	(349)	165	(515)	(370)	89		(459)
	Gains on recoveries of written-off claims			45	1,744	(527)	2,271	817	(1,162)		1,979
Note: Net income does not exclude net income attributable to non-controlling interests
○ Interest rate spreads (domestic operations)									(%)
					Total of group banks	Resona Bank
					under Resona HD
					[Non-consolidated]
					1Q		1Q	1Q			1Q
					FY 2020	Change	FY 2019	FY 2020	Change		FY 2019
Average interest rate of loans and bills discounted (A)			0.93	(0.06)	1.00	0.87	(0.06)		0.93
Average interest rate of deposits and negotiable CDs (B)		0.01	(0.00)	0.01	0.00	(0.00)		0.00
Loan-to-deposit spread (A) - (B)				0.92	(0.06)	0.98	0.86	(0.05)		0.92
(Reference) Excluding loans to the Japanese government and others
Average interest rate of loans and bills discounted (C)			0.95	(0.05)	1.00	0.88	(0.05)		0.93
Loan-to-deposit spread (C) - (B)				0.94	(0.04)	0.98	0.87	(0.04)		0.92

-2-

Resona Holdings, Inc.

Financial Information for 1Q of FY2020

(Millions of yen)

					Saitama Resona Bank	Total of banks
					under KMFG
					1Q		1Q	1Q			1Q
					FY 2020	Change	FY 2019	FY 2020	Change		FY 2019
Gross operating profit	(2+5+7+8+9)	1	28,616	(1,325)	29,942	31,094	(1,438)		32,532
	Interest income			2	20,559	(363)	20,922	26,402	12		26,390
	Net interest income from domestic loans and deposits	3	17,483	(570)	18,054	23,892	(585)		24,478
	Gains/(losses) on cancellation of investment trusts	4	756	483	273	922	768		153
	Trust fees (after disposal of problem loans in trust account)		5	-	-	-	-	-		-
			6	-	-	-	-	-		-
	Fees and commissions			7	7,132	(678)	7,811	3,724	(336)		4,060
	Trading income			8	-	-	-	-	-		-
	Other operating income			9	924	(283)	1,208	966	(1,114)		2,081
	Net gains/(losses) on bonds			10	619	(731)	1,350	443	(1,265)		1,709
	Expenses (excluding non-recurring items and amortization of goodwill)	11	(18,655)	(104)	(18,551)	(26,708)	671		(27,379)
	Personnel expenses			12	(8,019)	(35)	(7,983)	(13,510)	603		(14,114)
	Non-personnel expenses			13	(9,140)	(27)	(9,113)	(11,311)	93		(11,405)
	Taxes			14	(1,496)	(41)	(1,454)	(1,885)	(25)		(1,860)
Actual net operating profit (excluding amortization of goodwill) (1+11-6)	15	9,961	(1,429)	11,391	4,386	(766)		5,152
Core net operating profit		(15-10)	16	9,341	(698)	10,040	3,942	499		3,443
Core net operating profit		(16-4)	17	8,585	(1,182)	9,767	3,020	(268)		3,289
(excluding gains/(losses) on cancellation of investment trusts)
Amortization of goodwill			18	-	-	-	(184)	-		(184)
Actual net operating profit (including amortization of goodwill) (15+18)	19	9,961	(1,429)	11,391	4,202	(766)		4,968
Provision to general reserve for possible loan losses		20	(1,397)	(5,152)	3,755	(914)	(914)		-
Net operating profit	(1+11+18+20)	21	8,564	(6,581)	15,146	3,288	(1,680)		4,968
Other gains/(losses), net			22	1,121	6,440	(5,318)	(546)	2,156		(2,703)
	Net gains/(losses) on stocks			23	1,595	619	975	1,926	1,991		(64)
	Gains on sale			24	1,609	591	1,017	2,332	2,316		16
	Losses on sale			25	(13)	27	(41)	(405)	(368)		(36)
	Losses on devaluation			26	-	0	(0)	(0)	43		(44)
	Disposal of problem loans			27	468	5,944	(5,475)	(2,081)	(1,660)		(421)
	Reversal of credit expenses			28	140	(33)	173	786	515		270
	Other			29	(1,083)	(90)	(992)	(1,178)	1,309		(2,488)
Ordinary profit		(21+22)	30	9,686	(141)	9,827	2,741	476		2,264
Extraordinary gains/(losses), net			31	(118)	(378)	260	893	1,007		(113)
	Net gains/(losses) on disposal of fixed assets			32	(38)	(394)	355	893	956		(62)
	Impairment losses on fixed assets			33	(80)	15	(95)	-	51		(51)
Net Income before income taxes		(30+31)	34	9,567	(520)	10,088	3,635	1,484		2,151
Income taxes-current			35	(2,219)	1,163	(3,383)	(200)	(144)		(55)
Income taxes-deferred			36	(560)	(950)	390	(768)	(207)		(561)
Net income	(34+35+36)	37	6,788	(306)	7,094	2,666	1,131		1,534
Credit expense	(6+20+27+28)	38	(787)	759	(1,546)	(2,209)	(2,058)		(150)
	Disposal of problem loans in the trust account			39	-	-	-	-	-		-
	Provision to general reserve for possible loan losses		40	(1,397)	(5,152)	3,755	(914)	(864)		(50)
	Write-off of loans			41	(115)	(5)	(110)	(669)	(393)		(276)
	Provision to specific reserve for possible loan losses		42	562	6,016	(5,454)	(1,409)	(1,612)		202
	Provision to special reserve for certain overseas loans		43	-	-	-	-	-		-
	Other disposal of problem loans			44	22	(66)	89	(2)	142		(144)
	Gains on recoveries of written-off claims			45	140	(33)	173	786	668		117
Note: Net income does not exclude net income attributable to non-controlling interests
○ Interest rate spreads (domestic operations)									(%)
					Saitama Resona Bank	Total of banks
					under KMFG
					1Q		1Q	1Q			1Q
					FY 2020	Change	FY 2019	FY 2020	Change		FY 2019
Average interest rate of loans and bills discounted (A)			0.92	(0.08)	1.00	1.08	(0.05)		1.13
Average interest rate of deposits and negotiable CDs (B)		0.00	(0.00)	0.00	0.03	(0.00)		0.03
Loan-to-deposit spread (A) - (B)				0.91	(0.08)	1.00	1.05	(0.04)		1.10
(Reference) Excluding loans to the Japanese government and others
Average interest rate of loans and bills discounted (C)			0.96	(0.04)	1.00	1.09	(0.05)		1.14
Loan-to-deposit spread (C) - (B)				0.95	(0.04)	1.00	1.05	(0.04)		1.10

-3-

Resona Holdings, Inc.

Financial Information for 1Q of FY2020

2．Claims disclosure according to the Financial Reconstruction Act

						(Millions of yen, %)
			End of Jun.			End of Mar.	End of Jun.
	2020 (A)	(A)-(B)	(A)-(C)	2020 (B)	2019 (C)
		Unrecoverable or valueless claims	67,824	(238)	(1,299)	68,063	69,124
		Risk claims	279,596	9,011	(14,956)	270,584	294,552
		Special attention loans	103,892	8,954	27,670	94,937	76,221
	Financial Reconstruction Act subtotal [A]	451,313	17,728	11,414	433,584	439,898
	Normal claims	38,446,699	1,172,338	2,021,410	37,274,360	36,425,289
Financial Reconstruction Act total [B]	38,898,012	1,190,066	2,032,824	37,707,945	36,865,187
Partial direct write-offs	164,008	2,964	(11,487)	161,044	175,496
NPL Ratio [A] / [B]	1.16	0.01	(0.03)	1.14	1.19
		Unrecoverable or valueless claims	21,561	1,041	1,802	20,520	19,759
		Risk claims	118,283	9,724	1,258	108,558	117,024
		Special attention loans	53,928	4,098	12,226	49,830	41,702
	Financial Reconstruction Act subtotal [A]	193,772	14,863	15,287	178,909	178,485
	Normal claims	21,198,432	625,085	1,172,970	20,573,346	20,025,461
Financial Reconstruction Act total [B]	21,392,205	639,949	1,188,258	20,752,255	20,203,946
Partial direct write-offs	76,648	2,521	(5,389)	74,127	82,037
NPL Ratio [A] / [B]	0.90	0.04	0.02	0.86	0.88
		Unrecoverable or valueless claims	14,987	(181)	(1,301)	15,169	16,289
		Risk claims	58,061	(1,643)	(14,066)	59,705	72,128
		Special attention loans	22,830	2,739	11,613	20,091	11,217
	Financial Reconstruction Act subtotal [A]	95,880	914	(3,754)	94,965	99,634
	Normal claims	7,939,517	337,927	624,519	7,601,589	7,314,998
Financial Reconstruction Act total [B]	8,035,397	338,842	620,764	7,696,555	7,414,632
Partial direct write-offs	12,971	118	(2,846)	12,853	15,818
NPL Ratio [A] / [B]	1.19	(0.04)	(0.15)	1.23	1.34
		Unrecoverable or valueless claims	31,275	(1,098)	(1,800)	32,373	33,075
		Risk claims	103,251	931	(2,148)	102,320	105,399
		Special attention loans	27,133	2,117	3,830	25,015	23,302
	Financial Reconstruction Act subtotal [A]	161,659	1,950	(118)	159,709	161,778
	Normal claims	9,308,749	209,324	223,920	9,099,425	9,084,829
Financial Reconstruction Act total [B]	9,470,409	211,274	223,801	9,259,134	9,246,608
Partial direct write-offs	74,388	325	(3,251)	74,063	77,640
NPL Ratio [A] / [B]	1.70	(0.01)	(0.04)	1.72	1.74

-4-

Resona Holdings, Inc.

Financial Information for 1Q of FY2020

3. Unrealized gains/(losses) on marketable securities (Bonds held to maturity, stocks of subsidiaries and affiliates and available-for-sale securities)

								(Millions of yen)
			B/S Amount		Unrealized gains/(losses)
			Change from		Change from
			(End of Jun.	(End of Jun.
			End of	Gain	Loss	End of
	2020)
Mar. 2020	2020)	Mar. 2020
Bonds held to maturity	2,100,195	131,743	21,509	25,214	(3,704)	(6,645)
Available-for-sale securities	3,776,110	284,233	544,772	578,890	(34,118)	135,056
	Stocks	889,660	129,347	543,411	552,748	(9,337)	133,001
	Bonds	2,037,534	317,703	(9,053)	5,001	(14,055)	(5,770)
		JGB	630,053	176,825	(11,826)	-	(11,826)	(5,364)
	Other		848,915	(162,818)	10,415	21,141	(10,725)	7,825
Notes: 1. The figures presented in the table	above include securities, negotiable certificates of deposit (NCDs) included in "cash and
	due from banks" and a portion of "monetary claims bought."
	2. The presented figures only include marketable securities.
								(Millions of yen)
			B/S Amount		Unrealized gains/(losses)
			Change from		Change from
			(End of Jun.	(End of Jun.
			End of	Gain	Loss	End of
			2020)
	Mar. 2020	2020)	Mar. 2020
Bonds held to maturity	2,100,195	131,743	21,509	25,214	(3,704)	(6,646)
Stock of subsidiaries and affiliates	-	-	-	-	-	-
Available-for-sale securities	3,768,034	291,471	554,513	585,589	(31,076)	133,745
	Stocks	889,120	129,344	554,234	560,521	(6,286)	131,367
	Bonds	2,037,531	317,703	(8,853)	5,204	(14,057)	(5,794)
	Other	841,381	(155,577)	9,131	19,864	(10,732)	8,172
Bonds held to maturity	1,136,805	150,749	14,350	16,317	(1,967)	(4,586)
Stock of subsidiaries and affiliates	-	-	-	-	-	-
Available-for-sale securities	2,237,284	79,616	446,920	466,411	(19,491)	107,549
	Stocks	706,385	110,301	444,240	449,530	(5,289)	110,666
	Bonds	971,268	147,613	(4,723)	3,587	(8,311)	(3,618)
	Other	559,630	(178,298)	7,403	13,294	(5,890)	500
Bonds held to maturity	739,512	(25,704)	5,431	6,512	(1,080)	(1,089)
Stock of subsidiaries and affiliates	-	-	-	-	-	-
Available-for-sale securities	857,667	178,083	96,937	103,403	(6,466)	18,500
	Stocks	156,195	18,237	98,319	98,814	(495)	18,530
	Bonds	501,450	118,554	(3,460)	829	(4,289)	(1,748)
	Other	200,021	41,291	2,077	3,759	(1,681)	1,717
Bonds held to maturity	223,876	6,698	1,727	2,384	(656)	(969)
Stock of subsidiaries and affiliates	-	-	-	-	-	-
Available-for-sale securities	673,082	33,771	10,655	15,774	(5,118)	7,696
	Stocks	26,540	806	11,675	12,176	(501)	2,169
	Bonds	564,812	51,536	(670)	786	(1,456)	(427)
	Other	81,729	(18,570)	(349)	2,810	(3,159)	5,953

Notes: 1. The figures presented in the table above include securities, negotiable certificates of deposit (NCDs) included in "cash and due from banks" and a portion of "monetary claims bought."

2. The presented figures only include marketable securities.

-5-

Resona Holdings, Inc.

Financial Information for 1Q of FY2020

4. Balance of deposits and loans

						(Millions of yen)
		End of Jun.			End of Mar.	End of Jun.
		(A)-(B)	(A)-(C)
	2020 (A)	2020 (B)	2019 (C)
Deposits (Term-end)	55,488,455	2,467,407	4,007,071	53,021,047	51,481,383
Deposits (Average balance)	53,878,407	2,469,793	2,738,762	51,408,614	51,139,645
Trust principal (Term-end)	1,199,978	(129,726)	314,047	1,329,704	885,930
Trust principal (Average balance)	1,140,339	191,981	241,914	948,358	898,424
Loans and bills discounted (Term-end)	37,909,992	1,171,755	1,997,187	36,738,237	35,912,804
	Banking account	37,890,627	1,172,648	2,001,437	36,717,978	35,889,190
	Trust account	19,364	(893)	(4,249)	20,258	23,614
Loans and bills discounted (Average balance)	37,149,906	1,181,204	1,239,839	35,968,702	35,910,066
	Banking account	37,130,058	1,183,893	1,244,380	35,946,164	35,885,677
	Trust account	19,848	(2,688)	(4,540)	22,537	24,389

Deposits (Term-end)	29,530,812	1,091,562	2,652,120	28,439,250	26,878,692
Deposits (Average balance)	28,620,280	1,537,528	1,820,724	27,082,751	26,799,555
Trust principal (Term-end)	1,199,978	(129,726)	314,047	1,329,704	885,930
Trust principal (Average balance)	1,140,339	191,981	241,914	948,358	898,424
Loans and bills discounted (Term-end)	20,653,343	632,675	1,168,859	20,020,667	19,484,483
	Banking account	20,633,978	633,569	1,173,109	20,000,409	19,460,869
	Trust account	19,364	(893)	(4,249)	20,258	23,614
Loans and bills discounted (Average balance)	20,251,939	687,156	698,324	19,564,782	19,553,614
	Banking account	20,232,090	689,845	702,865	19,542,245	19,529,225
	Trust account	19,848	(2,688)	(4,540)	22,537	24,389

Deposits (Term-end)	15,054,164	878,469	1,315,862	14,175,695	13,738,302
Deposits (Average balance)	14,703,573	985,729	1,115,614	13,717,844	13,587,959
Loans and bills discounted (Term-end)	7,909,720	332,432	595,553	7,577,288	7,314,166
Loans and bills discounted (Average balance)	7,703,494	364,511	415,473	7,338,983	7,288,021

Deposits (Term-end)	10,903,477	497,376	39,089	10,406,101	10,864,388
Deposits (Average balance)	10,554,553	(53,464)	(197,576)	10,608,018	10,752,130
Loans and bills discounted (Term-end)	9,346,927	206,646	232,773	9,140,281	9,114,154
Loans and bills discounted (Average balance)	9,194,472	129,536	126,041	9,064,935	9,068,430

-6-

Resona Holdings, Inc.

Financial Information for 1Q of FY2020

Domestic breakdown of individual, corporate and other deposits		(Millions of yen)
		End of Jun.			End of Mar.	End of Jun.
		(A)-(B)	(A)-(C)
	2020 (A)	2020 (B)	2019 (C)
Domestic individual deposits (Term-end)	34,575,357	1,252,992	1,631,261	33,322,365	32,944,096
	Liquid deposits	24,484,178	1,280,522	1,965,239	23,203,655	22,518,939
	Time deposits	9,867,187	(34,678)	(345,251)	9,901,865	10,212,439
Domestic corporate deposits (Term-end)	17,218,049	1,006,655	2,171,394	16,211,393	15,046,654
	Liquid deposits	13,491,306	1,159,168	2,204,802	12,332,138	11,286,503
	Time deposits	3,034,205	(152,070)	(253,005)	3,186,276	3,287,210
Domestic individual deposits (Term-end)	15,345,214	550,165	860,727	14,795,048	14,484,487
	Liquid deposits	11,556,259	545,696	902,115	11,010,562	10,654,144
	Time deposits	3,619,951	(1,250)	(52,295)	3,621,202	3,672,247
Domestic corporate deposits (Term-end)	11,708,627	531,074	1,716,825	11,177,553	9,991,802
	Liquid deposits	9,502,273	644,678	1,672,883	8,857,594	7,829,389
	Time deposits	1,663,273	(95,468)	(107,088)	1,758,741	1,770,361
Domestic individual deposits (Term-end)	11,111,517	486,482	659,006	10,625,035	10,452,511
	Liquid deposits	8,296,577	478,404	679,632	7,818,173	7,616,944
	Time deposits	2,784,544	6,823	(21,691)	2,777,720	2,806,236
Domestic corporate deposits (Term-end)	2,902,578	257,511	380,589	2,645,067	2,521,988
	Liquid deposits	2,157,312	302,950	355,273	1,854,362	1,802,039
	Time deposits	683,062	(48,665)	(8,367)	731,728	691,429
Domestic individual deposits (Term-end)	8,118,625	216,344	111,527	7,902,280	8,007,097
	Liquid deposits	4,631,341	256,421	383,491	4,374,919	4,247,850
	Time deposits	3,462,690	(40,251)	(271,264)	3,502,942	3,733,955
Domestic corporate deposits (Term-end)	2,606,843	218,070	73,979	2,388,772	2,532,863
	Liquid deposits	1,831,719	211,539	176,645	1,620,180	1,655,074
	Time deposits	687,869	(7,937)	(137,549)	695,806	825,419

Notes: 1. Figures are based on the reports submitted to Bank of Japan. (excluding overseas loans and loans in Japan offshore banking account)

2. Liquid deposits = current deposits + ordinary deposits + saving deposits + deposits at notice Time deposits = time deposits + installment savings

Balance of investment trust and other investment products for individual customers (Millions of yen)

	End of Jun.			End of	Mar.	End of Jun.
	(A)-(B)	(A)-(C)
	2020 (A)	2020	(B)	2019 (C)
Investment trust (Including fund wrap)	2,159,220	142,173	(59,246)	2,017,046	2,218,466
Public bond	293,863	(4,989)	(23,780)	298,853	317,643
Insurance	2,549,619	(19,179)	1,158	2,568,799	2,548,461

Investment trust (Including fund wrap)	997,587	53,087	(32,053)	944,500	1,029,640
Public bond	105,208	(1,428)	(8,912)	106,636	114,120
Insurance	980,074	(13,490)	(11,259)	993,564	991,333

Investment trust (Including fund wrap)	515,548	32,948	(10,384)	482,599	525,932
Public bond	179,132	(3,191)	(13,110)	182,324	192,242
Insurance	723,087	(14,305)	(16,598)	737,392	739,685

Investment trust (Including fund wrap)	646,084	56,137	(16,808)	589,946	662,892
Public bond	9,522	(369)	(1,756)	9,892	11,279
Insurance	846,458	8,616	29,016	837,842	817,441

Notes: 1. Investment trust: based on market prices at each period-end

1. Public bond: Government bonds, local government bonds, and government-guaranteed bonds in custody accounts (amounts in par value and on a delivery date basis)
2. Insurance: based on insurance premiums paid (yen equivalent)

-7-