Financial Highlights

FY2021 1st Quarter Financial Results Overview

1. Strong progress towards the full-year forecast

  • Net revenue : 26.7 billion yen (5.4 billion yen increase year-on-year, progress rate: 28%)
  • Business profit : 13.4 billion yen (4.9 billion yen increase year-on-year, progress rate: 32%)
  • Profit attributable to owners of parent : 11.5 billion yen (4.1 billion yen increase year-on-year, progress rate: 39%)

2. Key points

  • Net interest income was approximately the same as 4Q of FY2020, while it declined by 0.5 billion yen year-on-year
  • Non-interest income increased by 5.9 billion yen year-on-year, mainly due to strong customer-related income, including gains from distressed loan-related and buyout-related limited partnerships, fee income from GMO Aozora Net Bank, and earnings from the sale of investment products to retail customers
  • Credit-related expenses were a net reversal of 2.0 billion yen, mainly due to reversals of the Bank’s general loan loss reserves as a result of improvements in the credit ratings of previously Need Attention overseas exposures and the repayment of overseas real-estate non-recourse loans associated with a recovery in the U.S. real estate market

3. Dividend for 1Q: 32 yen per common share (25% of the full-year dividend forecast of 128 yen)

Financial highlights

Net revenue

(billion yen)

FY2017

FY2018

FY2019

FY2020

FY2021

1Q

21.6

22.0

23.3

21.3

26.7

2Q

44.0

44.8

50.1

45.0

3Q

69.3

62.7

75.0

69.1

Full-year

87.4

83.8

95.7

96.5

Business profit

(Business profit)

FY2017

FY2018

FY2019

FY2020

FY2021

1Q

10.1

10.4

11.0

8.5

13.4

2Q

21.3

21.2

24.9

19.0

3Q

35.3

26.9

36.8

29.7

Full-year

40.6

34.4

42.3

42.6

Ordinary profit

(billion yen)

FY2017

FY2018

FY2019

FY2020

FY2021

1Q

17.5

16.6

16.8

8.7

15.6

2Q

30.3

29.6

29.1

18.9

3Q

46.1

41.9

42.2

28.8

Full-year

57.9

47.7

43.3

38.9

Profit attributable to owners of parent

(billion yen)

FY2017

FY2018

FY2019

FY2020

FY2021

1Q

14.5

11.3

11.8

7.4

11.5

2Q

23.1

21.3

20.2

15.1

3Q

33.5

29.7

29.7

22.0

Full-year

43.0

36.1

28.1

28.9

Total assets, loans, deposits

(billion yen)

Mar. 2018

Mar. 2019

Mar. 2020

Mar. 2021

Jun. 2021

Deposits /
Negotiable
certificates of
deposit

2,970.9

3,230.7

3,396.8

4,012.5

4,253.9

Loans and bills discounted

2,611.2

2,779.8

2,954.1

2,948.8

2,966.0

Total assets

4,912.7

5,255.0

5,299.8

5,916.8

6,064.0

Capital adequacy ratio *

(billion yen)

Mar. 2018

Mar. 2019

Mar. 2020

Mar. 2021

Jun. 2021

Capital
adequacy
ratio

10.39%

10.27%

10.29%

11.03%

11.12%

Regulatory
capital

450.9

461.8

473.1

481.5

485.8

  • * Basel 3, Domestic standard

PL summary

(billion yen)

FY2017

FY2018

FY2019

FY2020

FY2021

1Q

Net revenue

87.4

83.8

95.7

96.5

26.7

Net interest income

49.0

50.2

48.7

50.0

11.8

Non-interest income

38.4

33.5

46.9

46.4

14.9

Net fees and commissions

11.3

12.9

12.6

12.4

2.4

Net trading revenues

17.0

8.3

18.0

13.4

6.4

Gains/losses on bond transactions

0.6

4.9

14.5

8.1

1.5

Net other ordinary income excluding gains/losses on bond transactions

9.2

7.3

1.6

12.4

4.5

General & administrative expenses

-46.8

-49.4

-53.3

-54.9

-13.8

Gains/losses on equity
method investments

-

-

-

1.1

0.5

Business profit

40.6

34.4

42.3

42.6

13.4

Credit-related expenses

8.7

-1.0

-11.7

-4.3

2.0

Gains/losses on stock transactions

8.0

13.2

11.6

2.3

0.0

Ordinary profit

57.9

47.7

43.3

38.9

15.6

Extraordinary profit/loss

-0.0

-0.0

-0.0

-0.0

-

Profit before income taxes

57.9

47.7

43.3

38.9

15.6

Taxes

-15.4

-13.7

-17.7

-12.2

-4.4

Gains/losses attributable to
non-controlling interests

0.5

2.1

2.5

2.2

0.3

Profit attributable to owners of parent

43.0

36.1

28.1

28.9

11.5

Balance sheet summary

(billion yen)

Mar. 2018

Mar. 2019

Mar. 2020

Mar. 2021

Jun. 2021

Loans and bills discounted

2,611.2

2,779.8

2,954.1

2,948.8

2,966.0

Securities

1,139.8

1,240.8

1,073.6

1,393.3

1,404.1

Cash and due from banks

543.1

618.7

464.2

950.1

1,010.2

Trading assets

179.6

199.9

259.3

154.6

137.5

Other

438.8

415.6

548.3

469.9

546.0

Total assets

4,912.7

5,255.0

5,299.8

5,916.8

6,064.0

Deposits / Negotiable certificates of
deposit

2,970.9

3,230.7

3,396.8

4,012.5

4,253.9

Debentures / Bonds

257.5

283.9

259.9

198.3

185.2

Borrowed money

315.2

320.5

427.6

349.7

353.0

Payables under securities lending transactions

431.3

450.8

281.3

431.6

379.7

Trading liabilities

130.2

177.7

211.2

140,4

119.1

Other

370.2

342.4

298.0

294.0

260.7

Total liabilities

4,475.5

4,806.3

4,875.0

5,426.8

5,551.9

Total net assets

437.2

448.7

424.7

490.0

512.1

Total liabilities and net assets

4,912.7

5,255.0

5,299.8

5,916.8

6,064.0

Net revenue by business segment

(billion yen)

FY2018

FY2019

FY2020

Retail Banking Group

9.0

12.2

8.8

Institutional Banking Group

19.7

21.8

21.7

Allied Banking Group

7.9

7.1

6.2

Specialty Finance Group

19.3

19.6

20.6

International Finance Group

12.7

12.8

11.1

Financial Markets Group

11.4

20.0

27.9

Total (incl. other revenue)

83.8

95.7

96.5

  • Note

  • 1. 

    Figures for 2Q include all results starting from 1Q up through 2Q, and figures for 3Q include all results starting from 1Q up through 3Q.

  • 2. 

    Net revenue by reportable segment is only recorded starting from FY2018 due to changes in reportable segments.

  • 3. 

    Figures are rounded down to the nearest specified unit and ratios are rounded off to two decimal places.