Resona : Consolidated Financial Results for 1Q of FY2021

July 30, 2021

Resona Holdings, Inc.

Consolidated Financial Results for the First Quarter of Fiscal Year 2021

(Three months ended June 30, 2021/ Unaudited)

Code number: 8308Stock 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 6, 2021	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 2021 (April 1, 2021- June 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		%
	1Q of FY2021		( 8.9 )				( 54.9 )			(	56.9 )
	198,931	49,201	34,230
	1Q of FY2020	182,750	( -8.1 )	31,769	( -37.3 )	21,821	(	-40.6 )
Note: Comprehensive Income: 1Q of FY2021: 69,331 million yen ( -37.6%) 1Q of FY2020: 111,125 million yen (1,939.3%)
		Net Income per Share of			Diluted Net Income per
		Common Stock			Share of Common Stock
		Yen				Yen
	1Q of FY2021	13.88			13.88
	1Q of FY2020	9.49			9.49
(2)	Consolidated Financial Conditions
									Net Assets Attributable to
		Total Assets			Net Assets		Stockholders to Total Assets
									Ratio
		Million yen			Million yen		%
	June 30, 2021
	74,690,817		2,520,603		3.4
	March 31, 2021	73,697,682		2,519,645		3.1

(Reference) Net Assets Attributable to Stockholders: June 30, 2021: 2,502,902 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	-
FY2021(Forecast)		10.50	-	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 1Q of FY2021

※ 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	:	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 4 of the attachment.

1. Number of Shares of Common Stock Outstanding

1. Total outstanding shares including treasury stock at the end of the period

June 30, 2021	:	2,512,049,555 shares
March 31, 2021	:	2,302,829,191 shares

1. Treasury stock at the end of the period

June 30, 2021	:	93,082,452 shares
March 31, 2021	:	5,837,458 shares

1. Average outstanding shares during the period

1Q of FY2021	:	2,464,922,530 shares
1Q of FY2020	:	2,297,754,588 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.
June 30, 2021	:	4,090,500 shares
March 31, 2021	:	4,840,100 shares
Forecasted average number of shares of common stock (excluding treasury stock):	2,430,424,484 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 2021, at this point in time.

Resona Holdings, Inc.

Financial Results for 1Q 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. Note on Going-Concern Assumption…………………………………………………………………….. 4
  4. Note for Significant Changes in the Amount of Stockholders' Equity………………………………… 4
  5. Changes in Accounting Policies……………...…………………………………………………………... 4
  6. Significant Subsequent Event…………………………………………………………………………….. 5

[Reference Sheet]

Statements of Trust Assets and Liabilities…………………………………………………………………….. 6

(Supplementary Explanatory Material)

Reference Materials for the First Quarter of FY2021

- 1 -

Resona Holdings, Inc.

Financial Results for 1Q of FY2021

○ Consolidated Financial Statements

(1) Consolidated Balance Sheets

				(Millions of yen)
	March 31, 2021		June 30, 2021
Assets
Cash and due from banks	¥	25,223,147	¥	25,424,345
Call loans and bills bought		107,242		230,826
Monetary claims bought		221,739		236,195
Trading assets		231,695		218,116
Securities		7,147,733		7,883,531
Loans and bills discounted		38,978,959		38,883,104
Foreign exchange assets		139,436		152,893
Leasing receivables and investments in leases		36,559		34,988
Other assets		965,192		979,552
Tangible fixed assets		361,178		359,578
Intangible fixed assets		53,339		54,103
Net defined benefit asset		43,949		44,992
Deferred tax assets		29,728		26,913
Customers' liabilities for acceptances and guarantees		347,904		352,034
Reserve for possible loan losses		(190,088)		(190,336)
Reserve for possible losses on investments		(36)		(23)
Total Assets	¥	73,697,682	¥	74,690,817
Liabilities and Net Assets
Liabilities
Deposits	¥	58,691,223	¥	58,637,873
Negotiable certificates of deposit		739,170		1,072,070
Call money and bills sold		630,895		931,620
Payables under repurchase agreements		3,000		4,000
Payables under securities lending transactions		1,064,481		1,537,842
Trading liabilities		39,626		41,113
Borrowed money		7,218,168		7,401,874
Foreign exchange liabilities		8,025		5,609
Bonds		326,000		301,000
Due to trust account		1,304,346		1,062,899
Other liabilities		663,699		680,862
Reserve for employees' bonuses		18,650		7,536
Net defined benefit liability		15,371		14,970
Other reserves		34,643		33,762
Deferred tax liabilities		54,613		66,929
Deferred tax liabilities for land revaluation		18,216		18,216
Acceptances and guarantees		347,904		352,034
Total Liabilities		71,178,037		72,170,214
Net Assets
Capital stock		50,552		50,552
Capital surplus		15,769		200,326
Retained earnings		1,796,476		1,802,969
Treasury stock		(2,478)		(42,961)
Total stockholders' equity		1,860,319		2,010,887
Net unrealized gains on available-for-sale securities		442,901		477,849
Net deferred gains on hedges		10,671		8,515
Revaluation reserve for land		39,702		39,702
Foreign currency translation adjustments		(5,851)		(3,722)
Remeasurements of defined benefit plans		(30,478)		(30,329)
Total accumulated other comprehensive income		456,946		492,015
Stock acquisition rights		279		270
Non-controlling interests		202,099		17,429
Total Net Assets		2,519,645		2,520,603
Total Liabilities and Net Assets	¥	73,697,682	¥	74,690,817

-2-

Resona Holdings, Inc.

Financial Results for 1Q of FY2021

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

				(Millions of yen)
	First Quarter of FY2020	First Quarter of FY2021
	From April 1, 2020	From April 1, 2021
		to June 30, 2020		to June 30, 2021
Ordinary income	¥	182,750	¥	198,931
Interest income		105,870		107,056
Interest on loans and bills discounted		88,923		88,557
Interest and dividends on securities		10,847		10,859
Trust fees		4,492		4,957
Fees and commissions		48,984		57,484
Trading income		969		706
Other operating income		13,426		8,579
Other ordinary income		9,005		20,146
Ordinary expenses		150,980		149,730
Interest expenses		5,843		3,270
Interest on deposits		2,851		1,907
Fees and commissions		9,558		11,829
Trading expenses		36		66
Other operating expenses		3,635		14,643
General and administrative expenses		106,313		106,631
Other ordinary expenses		25,593		13,289
Ordinary profits		31,769		49,201
Extraordinary gains		791		159
Gains on disposal of fixed assets		791		159
Extraordinary losses		513		269
Losses on disposal of fixed assets		268		127
Impairment losses on fixed assets		244		142
Income before income taxes		32,048		49,091
Income taxes - current		8,398		12,674
Income taxes - deferred		502		2,150
Total income taxes		8,901		14,825
Net income		23,146		34,265
Net income attributable to non-controlling interests		1,325		35
Net income attributable to owners of parent	¥	21,821	¥	34,230
[Consolidated Statements of Comprehensive Income]
				(Millions of yen)
	First Quarter of FY2020	First Quarter of FY2021
	From April 1, 2020	From April 1, 2021
		to June 30, 2020		to June 30, 2021
Net income	¥	23,146	¥	34,265
Other comprehensive income		87,979		35,065
Net unrealized gains (losses) on available-for-sale securities		95,761		32,637
Net deferred gains (losses) on hedges		(1,809)		(2,150)
Foreign currency translation adjustments		(8,123)		2,851
Remeasurements of defined benefit plans		2,128		1,709
Share of other comprehensive income of affiliates accounted for using
the equity method		22		17
Total comprehensive income
¥	111,125	¥	69,331
Total comprehensive income attributable to:
Owners of parent	¥	109,788	¥	68,582
Non-controlling interests	¥	1,337	¥	748

-3-