Note: This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail.
Consolidated Financial Results
for the Fiscal Year Ended March 31, 2024
[Japanese GAAP]
Company name: The San-in Godo Bank,Ltd. | May 13, 2024 | ||||||||||
Stock exchange listing: Tokyo | |||||||||||
Code number: 8381 | |||||||||||
URL: https://www.gogin.co.jp | |||||||||||
Representative: Toru Yamasaki, | President | ||||||||||
Contact: Tsuyoshi Takahashi, | Executive Officer ,General Manager ,Management Planning Dept. | ||||||||||
Phone: +81-852-55-1000 | |||||||||||
Scheduled date of Annual General Meeting of Shareholders: June 20, 2024 | |||||||||||
Scheduled date of commencing dividend payments: June 21, 2024 | |||||||||||
Scheduled date of filing annual securities report: June 21, 2024 | |||||||||||
Trading Accounts: No | |||||||||||
Availability of supplementary briefing material on annual financial results: Yes | |||||||||||
Schedule of annual financial results briefing session: Yes (For Institutional Investors and Analysts) | |||||||||||
(Amounts of less than one million yen are rounded down.) | |||||||||||
1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2024 (April 1, 2023 to March 31, 2024) | |||||||||||
(1) Consolidated Operating Results | (% indicates changes from the previous corresponding period.) | ||||||||||
Ordinary revenues | Ordinary profit | Profit attributable to owners of | |||||||||
parent | |||||||||||
Fiscal year ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | |||||
March 31, 2024 | 120,176 | 6.6 | 24,727 | 13.8 | 16,800 | 8.6 | |||||
March 31, 2023 | 112,683 | 18.4 | 21,722 | 4.4 | 15,463 | 6.7 |
(Note) Comprehensive income: | Fiscal year ended March 31, 2024: |
Fiscal year ended March 31, 2023: |
¥ | 18,217 million | [ | -%] |
¥ | (32,798) million | [ | -%] |
Basic earnings per | Diluted earnings per | Rate of return on | Ordinary profit to | Ordinary profit to | |
ordinary revenues | |||||
share | share | equity | total assets ratio | ||
ratio | |||||
Fiscal year ended | Yen | Yen | % | % | % |
March 31, 2024 | 109.28 | 109.24 | 5.2 | 0.3 | 20.5 |
March 31, 2023 | 99.28 | 99.18 | 4.6 | 0.3 | 19.2 |
(Reference) Equity in earnings (losses) of affiliated companies: Fiscal year ended March 31, 2024: Fiscal year ended March 31, 2023:
(2) Consolidated Financial Position
- - million
- - million
Total assets | Net assets | Net assets ratio | Net assets per share | ||
As of | Millions of yen | Millions of yen | % | Yen | |
March 31, 2024 | 7,360,564 | 325,089 | 4.4 | 2,114.72 | |
March 31, 2023 | 6,877,489 | 313,208 | 4.5 | 2,023.95 | |
(Reference) Equity: As of | March 31, 2024: | ¥ | 324,584 million | ||
As of | March 31, 2023: | ¥ | 312,649 million | ||
(Note) Net assets ratio = (Net assets - Share acquisition rights - Non-controlling interests) / Total assets | |||||
(3) Consolidated Cash Flows | |||||
Cash flows from | Cash flows from | Cash flows from | Cash and cash | ||
equivalents at the end | |||||
operating activities | investing activities | financing activities | |||
of period | |||||
Fiscal year ended | Millions of yen | Millions of yen | Millions of yen | Millions of yen | |
March 31, 2024 | 63,473 | 8,302 | (6,425) | 884,996 | |
March 31, 2023 | (256,547) | 309,655 | (6,960) | 819,646 |
2. Dividends
Annual dividends | Payout | Dividends | |||||||
Total | to net | ||||||||
ratio | |||||||||
1st | 2nd | 3rd | Year-end | Total | dividends | assets | |||
(consolidated) | |||||||||
quarter-end | quarter-end | quarter-end | (consolidated) | ||||||
Fiscal year ended | Yen | Yen | Yen | Yen | Yen | Millions of yen | % | % | |
March 31, 2023 | - | 17.00 | - | 17.00 | 34.00 | 5,309 | 34.2 | 1.5 | |
March 31, 2024 | - | 18.00 | - | 21.00 | 39.00 | 6,020 | 35.6 | 1.8 | |
Fiscal year ending | - | 24.00 | - | 24.00 | 48.00 | 40.4 | |||
March31,2025(Forecast) | |||||||||
3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2025 (April 1, 2024 to March 31, 2025)
(% indicates changes from the previous corresponding period.)
Ordinary revenues | Ordinary profit | Profit attributable to | Basic earnings per | |||||
owners of parent | share | |||||||
Six months ending | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |
59,700 | 3.6 | 11,300 | 13.6 | 7,800 | 17.7 | 50.81 | ||
September 30, 2024 | ||||||||
Full year | 121,600 | 1.1 | 26,400 | 6.7 | 18,200 | 8.3 | 118.57 |
* Notes:
- Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes in scope of consolidation): No
- Changes in accounting policies, changes in accounting estimates and retrospective restatements
- Changes in accounting policies due to the revision of accounting standards: No
- Changes in accounting policies other than 1) above: No
- Changes in accounting estimates: No
- Retrospective restatements: No
- Total number of issued shares (common shares)
- Total number of issued shares at the end of the period (including treasury shares):
March 31, 2024: | 156,977,472 | shares |
March 31, 2023: | 156,977,472 | shares |
2) Number of treasury shares at the end of the period: | ||
March 31, 2024: | 3,489,463 | shares |
March 31, 2023: | 2,502,655 | shares |
3) Average number of shares during the period: | ||
Fiscal Year ended March 31, 2024: | 153,727,489 | shares |
Fiscal Year ended March 31, 2023: | 155,758,054 | shares |
(Notes) The period-end treasury stock includes the Bank's shares held by a trust account for Board Benefit Trust (BBT)(891,300 shares as of March 31, 2024 and 1,019,200 shares as of March 31, 2023 ).
The treasury stock deducted to calculate the average number of outstanding shares includes the Bank's shares held by the trust account (931,487 shares as of March 31, 2024 and 735,867 shares as of March 31, 2023 ).
(Reference) Non-consolidated Financial Highlights | |||||||||||||||
1. Non-consolidated Financial Highlights (April 1, 2023 to March 31, 2024) | |||||||||||||||
(1) Non-consolidated Operating Results | (% indicates changes from the previous corresponding period.) | ||||||||||||||
Ordinary revenues | Ordinary profit | Net income | |||||||||||||
Fiscal year ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | |||||||||
March 31, 2024 | 101,821 | 5.6 | 22,955 | 9.2 | 15,975 | 10.0 | |||||||||
March 31, 2023 | 96,343 | 22.9 | 21,017 | 3.2 | 14,517 | 2.0 | |||||||||
Basic earnings per share | Diluted earnings per share | ||||||||||||||
Fiscal year ended | Yen | Yen | |||||||||||||
March 31, 2024 | 103.92 | 103.87 | |||||||||||||
March 31, 2023 | 93.20 | 93.11 | |||||||||||||
(2) Non-consolidated Financial Position | |||||||||||||||
Total assets | Net assets | Net assets ratio | Net assets per share | ||||||||||||
As of | Millions of yen | Millions of yen | % | Yen | |||||||||||
March 31, 2024 | 7,333,169 | 307,125 | 4.1 | 2,000.77 | |||||||||||
March 31, 2023 | 6,850,754 | 297,128 | 4.3 | 1,922.80 | |||||||||||
(Reference) Equity: As of | March 31, 2024: | ¥ | 307,095 million | ||||||||||||
As of | March 31, 2023: | ¥ | 297,024 million |
(Note) Net assets ratio = (Net assets - Share acquisition rights) / Total assets
2. Non-Consolidated Earnings Projections for the Fiscal Year Ending March 31, 2025(April 1, 2024 to March 31, 2025)
(% indicates changes from the previous corresponding period.)
Ordinary revenues | Ordinary profit | Net income | Basic earnings per | ||||||
share | |||||||||
Six months ending | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | ||
50,100 | 4.3 | 11,000 | 27.3 | 7,600 | 21.8 | 49.51 | |||
September 30, 2024 | |||||||||
Full year | 103,300 | 1.4 | 25,700 | 11.9 | 17,800 | 11.4 | 115.96 |
- This report is out of the scope of the audit by certified public accountants or independent audit firms.
- Proper use of financial results, forecasts and other notes
The forecasts above are based on information available to the Bank as of the date of this publication.
Accordingly, actual results may differ significantly from those forecasts due to various factors.
The San-in Godo Bank,Ltd. | ||
Table of Contents | ||
Consolidated Financial Statements | 2 | |
Consolidated Balance Sheets | 2 | |
Consolidated Statements of Income and Comprehensive Income | 4 | |
Consolidated Statements of Income | 4 | |
Consolidated Statements of Comprehensive Income | 5 | |
Consolidated Statements of Changes in Net Assets | 6 | |
For the fiscal year ended March 31, 2023 | 6 | |
For the fiscal year ended March 31, 2024 | 7 | |
Consolidated Statements of Cash Flows | 8 | |
Consolidated Statements of Cash Flows | 8 | |
Non-Consolidated Financial Statements | 10 | |
Non-Consolidated Balance Sheets | 10 | |
Non-Consolidated Statements of Income | 13 | |
Non-Consolidated Statements of Changes in Net Assets | 15 | |
For the fiscal year ended March 31, 2023 | 15 | |
For the fiscal year ended March 31, 2024 | 17 | |
Supplementary Information | 19 | |
Financial Data | 19 | |
Net Holding Gains (Losses) on Securities | 20 | |
Disclosed Assets Based on the Financial Reconstruction Act and Risk managed loans | 21 | |
Classification of Loans and Bills Discounted by Types of Industry (Non-Consolidated) | 23 | |
Projections for the Year Ending March 31, 2025 | 24 |
1
The San-in Godo Bank,Ltd. | ||||
Consolidated Financial Statements | ||||
Consolidated Balance Sheets | ||||
(Millions of yen) | ||||
As of March 31, 2023 | As of March 31, 2024 | |||
Assets | ||||
Cash and due from banks | 820,839 | 886,423 | ||
Call loans and bills bought | 3,271 | 4,012 | ||
Monetary claims bought | 13,159 | 13,889 | ||
Money held in trust | 4,988 | 4,993 | ||
Securities | 1,562,511 | 1,558,741 | ||
Loans and bills discounted | 4,322,918 | 4,744,248 | ||
Foreign exchanges | 4,768 | 2,485 | ||
Lease receivables and investment assets | 28,179 | 28,155 | ||
Other assets | 66,333 | 67,907 | ||
Property, plant and equipment | 34,701 | 34,326 | ||
Buildings, net | 11,263 | 10,807 | ||
Land | 20,028 | 19,910 | ||
Construction in progress | - | 11 | ||
Other tangible fixed assets | 3,409 | 3,596 | ||
Intangible assets | 3,854 | 3,320 | ||
Software | 3,593 | 2,974 | ||
Goodwill | - | 85 | ||
Other intangible fixed assets | 261 | 260 | ||
Retirement benefit asset | 4,150 | 8,411 | ||
Deferred tax assets | 35,521 | 34,614 | ||
Customers' liabilities for acceptances and guarantees | 13,334 | 12,779 | ||
Allowance for loan losses | (40,886) | (43,612) | ||
Allowance for investment loss | (156) | (134) | ||
Total assets | 6,877,489 | 7,360,564 | ||
Liabilities | ||||
Deposits | 5,508,349 | 5,923,978 | ||
Negotiable certificates of deposit | 138,957 | 306,743 | ||
Call money and bills sold | 98,812 | 44,665 | ||
Cash collateral received for securities lent | 106,426 | 92,129 | ||
Borrowed money | 586,637 | 563,602 | ||
Foreign exchanges | 7 | 41 | ||
Other liabilities | 97,394 | 78,393 | ||
Provision for bonuses | 957 | 948 | ||
Retirement benefit liability | 9,147 | 8,706 | ||
Provision for stocks payment | 414 | 418 | ||
Provision for retirement benefits for directors (and | 58 | 77 | ||
other officers) | ||||
Provision for reimbursement of deposits | 252 | 168 | ||
Provision for contingencies | 804 | 785 | ||
Deferred tax liabilities | 674 | 20 | ||
Deferred tax liabilities for land revaluation | 2,050 | 2,015 | ||
Acceptances and guarantees | 13,334 | 12,779 | ||
Total liabilities | 6,564,281 | 7,035,474 | ||
2
The San-in Godo Bank,Ltd. | |||
(Millions of yen) | |||
As of March 31, 2023 | As of March 31, 2024 | ||
Net assets | |||
Share capital | 20,705 | 20,705 | |
Capital surplus | 22,058 | 22,058 | |
Retained earnings | 310,618 | 322,070 | |
Treasury shares | (1,847) | (2,679) | |
Total shareholders' equity | 351,535 | 362,155 | |
Valuation difference on available-for-sale securities | (36,842) | (42,381) | |
Deferred gains or losses on hedges | (3,020) | 1,434 | |
Revaluation reserve for land | 2,331 | 2,251 | |
Remeasurements of defined benefit plans | (1,354) | 1,125 | |
Total accumulated other comprehensive income | (38,886) | (37,570) | |
Share acquisition rights | 103 | 30 | |
Non-controlling interests | 455 | 475 | |
Total net assets | 313,208 | 325,089 | |
Total liabilities and net assets | 6,877,489 | 7,360,564 | |
3
The San-in Godo Bank,Ltd.
Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income
(Millions of yen) | |||
For the fiscal year | For the fiscal year | ||
ended March 31, 2023 | ended March 31, 2024 | ||
Ordinary income | 112,683 | 120,176 | |
Interest income | 66,644 | 76,086 | |
Interest on loans and discounts | 42,826 | 51,819 | |
Interest and dividends on securities | 19,918 | 20,757 | |
Interest on call loans and bills bought | 26 | 137 | |
Interest on deposits with banks | 1,416 | 1,402 | |
Other interest income | 2,456 | 1,968 | |
Fees and commissions | 15,073 | 17,262 | |
Other ordinary income | 24,641 | 19,238 | |
Other income | 6,323 | 7,589 | |
Recoveries of written off receivables | 0 | 0 | |
Other | 6,323 | 7,589 | |
Ordinary expenses | 90,961 | 95,449 | |
Interest expenses | 4,978 | 6,517 | |
Interest on deposits | 850 | 1,218 | |
Interest on negotiable certificates of deposit | 7 | 14 | |
Interest on call money and bills sold | 2,637 | 2,759 | |
Interest expenses on cash collateral received for | 1,132 | 1,550 | |
securities lent | |||
Interest on borrowings and rediscounts | 41 | 37 | |
Other interest expenses | 309 | 936 | |
Fees and commissions payments | 4,372 | 4,663 | |
Other ordinary expenses | 38,855 | 35,374 | |
General and administrative expenses | 39,576 | 40,573 | |
Other expenses | 3,177 | 8,320 | |
Provision of allowance for loan losses | 1,856 | 5,337 | |
Other | 1,321 | 2,982 | |
Ordinary profit | 21,722 | 24,727 | |
Extraordinary income | 893 | 251 | |
Gain on disposal of non-current assets | 138 | 232 | |
Gain on bargain purchase | 746 | - | |
Gain on step acquisitions | 8 | 19 | |
Extraordinary losses | 727 | 308 | |
Loss on disposal of non-current assets | 121 | 75 | |
Impairment losses | 606 | 233 | |
Profit before income taxes | 21,888 | 24,669 | |
Income taxes - current | 5,342 | 8,149 | |
Income taxes - deferred | 1,108 | (291) | |
Total income taxes | 6,450 | 7,857 | |
Profit | 15,437 | 16,812 | |
Profit (loss) attributable to non-controlling interests | (25) | 11 | |
Profit attributable to owners of parent | 15,463 | 16,800 | |
4
The San-in Godo Bank,Ltd. | ||||
Consolidated Statements of Comprehensive Income | ||||
(Millions of yen) | ||||
For the fiscal year | For the fiscal year | |||
ended March 31, 2023 | ended March 31, 2024 | |||
Profit | 15,437 | 16,812 | ||
Other comprehensive income | ||||
Valuation difference on available-for-sale securities | (43,988) | (5,528) | ||
Deferred gains or losses on hedges | (5,708) | 4,454 | ||
Remeasurements of defined benefit plans, net of tax | 1,460 | 2,479 | ||
Total other comprehensive income | (48,236) | 1,405 | ||
Comprehensive income | (32,798) | 18,217 | ||
Comprehensive income attributable to | ||||
Comprehensive income attributable to owners of | (32,764) | 18,196 | ||
parent | ||||
Comprehensive income attributable to non-controlling | (34) | 21 | ||
interests | ||||
5
The San-in Godo Bank,Ltd.
Consolidated Statements of Changes in Net Assets
For the fiscal year ended March 31, 2023
(Millions of yen) | ||||||||||||
Shareholders' equity | ||||||||||||
Share | Capital | Retained | Treasury | Total | ||||||||
shareholders' | ||||||||||||
capital | surplus | earnings | shares | |||||||||
equity | ||||||||||||
Balance at beginning | 20,705 | 22,058 | 301,096 | (643) | 343,217 | |||||||
of period | ||||||||||||
Changes during | ||||||||||||
period | ||||||||||||
Dividends of | (5,958) | (5,958) | ||||||||||
surplus | ||||||||||||
Profit attributable to | 15,463 | 15,463 | ||||||||||
owners of parent | ||||||||||||
Purchase of | (1,302) | (1,302) | ||||||||||
treasury shares | ||||||||||||
Disposal of treasury | (0) | 98 | 97 | |||||||||
shares | ||||||||||||
Reversal of | ||||||||||||
revaluation reserve | 16 | 16 | ||||||||||
for land | ||||||||||||
Net changes in | ||||||||||||
items other than | ||||||||||||
shareholders' equity | ||||||||||||
Total changes | - | - | 9,522 | (1,203) | 8,318 | |||||||
during period | ||||||||||||
Balance at end of | 20,705 | 22,058 | 310,618 | (1,847) | 351,535 | |||||||
period | ||||||||||||
Accumulated other comprehensive income | ||||||||||||
Valuation | Total | Share | Non- | |||||||||
difference | Deferred | Total net | ||||||||||
Revaluation | Remeasurements | accumulated | acquisition | controlling | ||||||||
on | gains or | |||||||||||
reserve for | of defined benefit | other | rights | interests | assets | |||||||
available- | losses on | |||||||||||
land | plans | comprehensive | ||||||||||
for-sale | hedges | |||||||||||
income | ||||||||||||
securities | ||||||||||||
Balance at beginning of | 7,137 | 2,688 | 2,348 | (2,814) | 9,358 | 123 | 491 | 353,191 | ||||
period | ||||||||||||
Changes during period | ||||||||||||
Dividends of surplus | (5,958) | |||||||||||
Profit attributable to | 15,463 | |||||||||||
owners of parent | ||||||||||||
Purchase of treasury | (1,302) | |||||||||||
shares | ||||||||||||
Disposal of treasury | 97 | |||||||||||
shares | ||||||||||||
Reversal of | ||||||||||||
revaluation reserve for | 16 | |||||||||||
land | ||||||||||||
Net changes in items | ||||||||||||
other than | (43,980) | (5,708) | (16) | 1,460 | (48,244) | (19) | (36) | (48,300) | ||||
shareholders' equity | ||||||||||||
Total changes during | (43,980) | (5,708) | (16) | 1,460 | (48,244) | (19) | (36) | (39,982) | ||||
period | ||||||||||||
Balance at end of period | (36,842) | (3,020) | 2,331 | (1,354) | (38,886) | 103 | 455 | 313,208 | ||||
6
The San-in Godo Bank,Ltd.
For the fiscal year ended March 31, 2024
(Millions of yen) | ||||||||||||
Shareholders' equity | ||||||||||||
Share | Capital | Retained | Treasury | Total | ||||||||
shareholders' | ||||||||||||
capital | surplus | earnings | shares | |||||||||
equity | ||||||||||||
Balance at beginning | 20,705 | 22,058 | 310,618 | (1,847) | 351,535 | |||||||
of period | ||||||||||||
Changes during | ||||||||||||
period | ||||||||||||
Dividends of | (5,422) | (5,422) | ||||||||||
surplus | ||||||||||||
Profit attributable to | 16,800 | 16,800 | ||||||||||
owners of parent | ||||||||||||
Purchase of | (1,001) | (1,001) | ||||||||||
treasury shares | ||||||||||||
Disposal of treasury | (6) | 169 | 162 | |||||||||
shares | ||||||||||||
Reversal of | ||||||||||||
revaluation reserve | 80 | 80 | ||||||||||
for land | ||||||||||||
Net changes in | ||||||||||||
items other than | ||||||||||||
shareholders' equity | ||||||||||||
Total changes | - | - | 11,451 | (831) | 10,619 | |||||||
during period | ||||||||||||
Balance at end of | 20,705 | 22,058 | 322,070 | (2,679) | 362,155 | |||||||
period | ||||||||||||
Accumulated other comprehensive income | ||||||||||||
Valuation | Total | Share | Non- | |||||||||
difference | Deferred | Total net | ||||||||||
Revaluation | Remeasurements | accumulated | acquisition | controlling | ||||||||
on | gains or | |||||||||||
reserve for | of defined benefit | other | rights | interests | assets | |||||||
available- | losses on | |||||||||||
land | plans | comprehensive | ||||||||||
for-sale | hedges | |||||||||||
income | ||||||||||||
securities | ||||||||||||
Balance at beginning of | (36,842) | (3,020) | 2,331 | (1,354) | (38,886) | 103 | 455 | 313,208 | ||||
period | ||||||||||||
Changes during period | ||||||||||||
Dividends of surplus | (5,422) | |||||||||||
Profit attributable to | 16,800 | |||||||||||
owners of parent | ||||||||||||
Purchase of treasury | (1,001) | |||||||||||
shares | ||||||||||||
Disposal of treasury | 162 | |||||||||||
shares | ||||||||||||
Reversal of | ||||||||||||
revaluation reserve for | 80 | |||||||||||
land | ||||||||||||
Net changes in items | ||||||||||||
other than | (5,538) | 4,454 | (80) | 2,479 | 1,315 | (73) | 19 | 1,261 | ||||
shareholders' equity | ||||||||||||
Total changes during | (5,538) | 4,454 | (80) | 2,479 | 1,315 | (73) | 19 | 11,881 | ||||
period | ||||||||||||
Balance at end of period | (42,381) | 1,434 | 2,251 | 1,125 | (37,570) | 30 | 475 | 325,089 | ||||
7
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The San-in Godo Bank Ltd. published this content on 13 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 May 2024 10:41:14 UTC.