Management Greeting

Thank you for your continuing support of Aozora Bank.

Over the past year the global economy has registered some modest growth in the face of rising geopolitical risks and more restrictive monetary policies in Europe and the United States. Despite Japan’s ongoing economic recovery, the banking sector continued to face earnings pressure created by an extended period of low interest rates. In the face of these challenges, Aozora is pleased to report net revenue of 87.5 billion yen, an increase from the prior year, and full-year earnings equal to our forecast for fiscal year 2017 of 43.1 billion yen. These favorable results were the product of several factors including our ongoing focus on disciplined balance sheet management and the diversification of income sources. We also announced a full-year dividend of 184 yen per common share for fiscal year 2017, in line with the fiscal year 2017 dividend forecast.

Aozora’s new mid-term plan for fiscal years 2018–2020 was also announced in May. Looking ahead, our bank remains committed to offering differentiated and highquality financial products and services to our customers by leveraging our core competencies and maintaining sound risk taking based on disciplined risk management and best practices. We firmly believe that these collective actions will serve to further enhance our corporate value. At this time I would like to express my gratitude to all of our stakeholders for their continued support.

We at Aozora reaffirm our commitment to quality communications with our stakeholders. In addition, we expect to provide full support for our customers as well as contribute to the economic and social development of Japan.

On behalf of the management team of Aozora Bank, I would like to express my gratitude to all of our stakeholders for their continued support.

July 2018
Shinsuke Baba
Representative Director, President
and Chief Executive Officer

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