Chukyo Bank : Summary of Consolidated Financial Results for the Six Months Ended September 30, 2021

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 Six Months Ended September 30, 2021 (Based on Japanese GAAP)

November 11, 2021

Company name:

The Chukyo Bank, Limited

Stock exchange listing: Tokyo, Nagoya

Stock code:

8530

URL

https://www.chukyo-bank.co.jp/

Representative:

President

Hideo Kobayashi

Managing Executive Officer and General

Inquiries:

Manager , General Planning and

Makoto Hayakawa

TEL

052-249-1613

Administration Department

Scheduled date to file Quarterly Securities Report:

November 16, 2021

Scheduled date to commence dividend payments:

December 6, 2021

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 six months ended September 30, 2021 (from April 1, 2021 to September 30, 2021)

(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

%

Six months ended September 30, 2021

15,894

(8.1)

2,190

31.6

457

(43.8)

Six months ended September 30, 2020

17,285

11.1

1,664

(22.7)

812

(37.2)

Earnings per share

Diluted earnings per share

Yen

Yen

Six months ended September 30, 2021

21.04

20.92

Six months ended September 30, 2020

37.45

37.21

(2) Consolidated financial position

Total assets

Net assets

Equity ratio

Millions of yen

Millions of yen

%

As of September 30, 2021

2,352,134

111,812

4.7

As of March 31, 2021

2,107,003

110,691

5.2

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, 2021

-

20.00

-

20.00

40.00

Year ending March 31, 2022

-

20.00

Year ending March 31, 2022 (Forecast)

-

20.00

40.00

3. Forecast of consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)

Percentages indicate year-on-year changes

	Ordinary profit		Profit attributable to	Earnings per share
		owners of parent
	Millions of yen		%	Millions of yen	%	Yen
Full year	3,800		4.6	1,900	(18.6)	87.35

1

4. Notes

(1)	Changes in significant subsidiaries during the six months ended September 30, 2021	No
	(changes in specified subsidiaries resulting in the change in scope of consolidation):
(2)	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:	Yes
	Changes in accounting policies due to other reasons:	No
	Changes in accounting estimates:	Yes
	Restatement of prior period financial statements:	No

(3) Number of issued shares (common shares)

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

	As of September 30, 2021	21,780,058	shares	As of March 31, 2021	21,745,958	shares
Number of treasury shares at the end of the period
	As of September 30, 2021	4,519	shares	As of March 31, 2021	30,473	shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
	Six months ended September 30, 2021	21,751,233	shares	Six months ended September 30, 2020	21,697,425	shares

2

Quarterly consolidated financial statements

Consolidated balance sheets

			(Millions of yen)
		As of March 31, 2021	As of September 30, 2021
Assets
Cash and due from banks	92,026	371,439
Securities	430,763	421,190
Loans and bills discounted	1,535,869	1,521,034
Foreign exchanges	15,931	8,304
Other assets	15,288	15,378
Tangible fixed assets	18,419	18,391
Intangible fixed assets	1,814	1,719
Retirement benefit asset	2,943	3,210
Deferred tax assets	387	352
Customers' liabilities for acceptances and guarantees	2,813	2,650
Allowance for loan losses	(9,255)	(11,535)
Total assets	2,107,003	2,352,134
Liabilities
Deposits	1,891,435	1,903,145
Negotiable certificates of deposit	5,310	5,310
Cash collateral received for securities lent	-	112,958
Borrowed money	56,300	182,900
Foreign exchanges	22	61
Bonds payable	5,000	5,000
Other liabilities	27,636	21,258
Provision for bonuses	622	657
Retirement benefit liability	149	127
Provision for reimbursement of deposits	149	139
Provision for contingent loss	492	530
Deferred tax liabilities	3,842	3,252
Deferred tax liabilities for land revaluation	2,537	2,329
Acceptances and guarantees	2,813	2,650
Total liabilities	1,996,311	2,240,321
Net assets
Share capital	31,844	31,879
Capital surplus	23,994	24,029
Retained earnings	35,211	35,644
Treasury shares	(78)	(10)
Total shareholders' equity	90,973	91,543
Valuation difference on available-for-sale securities	14,393	15,391
Deferred gains or losses on hedges	(650)	(526)
Revaluation reserve for land	5,407	4,936
Remeasurements of defined benefit plans	269	264
Total accumulated other comprehensive income	19,419	20,065
Share acquisition rights	299	204
Total net assets	110,691	111,812
Total liabilities and net assets		2,107,003	2,352,134

3

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

Consolidated statements of income (cumulative)

		(Millions of yen)
	Six months ended	Six months ended
	September 30, 2020	September 30, 2021
Ordinary income	17,285	15,894
Interest income	9,622	9,634
Interest on loans and discounts	6,515	6,834
Interest and dividends on securities	3,053	2,712
Fees and commissions	2,525	3,050
Other ordinary income	2,806	869
Other income	2,331	2,339
Ordinary expenses	15,620	13,704
Interest expenses	527	422
Interest on deposits	119	79
Fees and commissions payments	1,000	1,028
Other ordinary expenses	2,336	587
General and administrative expenses	8,997	8,725
Other expenses	2,759	2,940
Ordinary profit	1,664	2,190
Extraordinary income	-	-
Extraordinary losses	3	2,098
Loss on disposal of non-current assets	3	7
Impairment losses	-	1,213
Other	-	877
Profit before income taxes	1,661	92
Income taxes - current	789	990
Income taxes - deferred	58	(1,356)
Total income taxes	848	(365)
Profit	812	457
Profit attributable to owners of parent	812	457

4

Consolidated statements of comprehensive income (cumulative)

		(Millions of yen)
	Six months ended	Six months ended
	September 30, 2020	September 30, 2021
Profit	812	457
Other comprehensive income	2,567	1,116
Valuation difference on available-for-sale securities	2,734	997
Deferred gains or losses on hedges	(198)	124
Remeasurements of defined benefit plans, net of tax	30	(5)
Share of other comprehensive income of entities accounted	1	-
for using equity method
Comprehensive income	3,380	1,574
Comprehensive income attributable to
Comprehensive income attributable to owners of parent	3,380	1,574

5