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Consolidated Financial Results for the Six Months Ended September 30, 2022
(Based on Japanese GAAP)
November 11, 2022
Company name:Yamaguchi Financial Group, Inc.
Stock exchange listing: Tokyo
Stock code:
Representative:

8418
URL https://www.ymfg.co.jp
President and CEOInquiries:

General Manager of Accounting
Office,Corporate Planning DepartmentKeisuke Mukunashi
Kentaro Hama

TEL

Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:

November 25, 2022
December 9, 2022

Trading accounts:
Preparation of supplementary material on quarterly financial results:

Yes
Yes

Holding of quarterly financial results meeting:Yes083-223-5511(for institutional investors and analysts)(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the six months ended September 30, 2022 (from April 1, 2022 to September 30, 2022)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Profit attributable toOrdinary income
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen%Six months ended September 30, 2022
74,312(1.5)
16,6593.2
12,264
1.0
Six months ended September 30, 2021
75,441(0.2)
16,13624.3
12,145
43.7
Earnings per share

Diluted earnings per share

Yen
52.23
49.13

Six months ended September 30, 2022
Six months ended September 30, 2021

Yen
52.22
49.11(2) Consolidated financial position
Total assets
As of September 30, 2022
As of March 31, 2022

Net assets

Millions of yen
12,189,687
12,182,662

Equity ratio

Millions of yen
613,216
636,344%
5.0
5.2

2. Cash dividends
Annual dividends per share

Year ended March 31, 2022
Year ending March 31, 2023

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––Yen
14.00
15.00

Yen–

Yen
14.00

Yen
28.00

–

16.00

31.00

Year ending March 31, 2023 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)
Percentages indicate year-on-year changes
Profit attributable toOrdinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen%
Yen
Full year
25,000–17,000–72.87

1

4. Notes(1) Changes in significant subsidiaries during the six months ended September 30, 2022
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(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:
Changes in accounting policies due to other reasons:

Yes
No

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(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, 2022

264,353,616 shares As of March 31, 2022

264,353,616 shares

Number of treasury shares at the end of the period
As of September 30, 2022

32,604,442 shares As of March 31, 2022

26,865,558 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Six months ended September 30, 2022

234,811,068 shares Six months ended September 30, 2021

2247,214,170 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2022

As of September 30, 2022

AssetsCash and due from banks

2,175,913

1,889,156

Call loans and bills bought
Monetary claims bought

31,713
5,442

5,068
4,754

Trading account assets
Money held in trust

3,101
35,0595,11633,932

1,354,033
8,143,997

1,462,342
8,317,317

Foreign exchanges
Lease receivables and investments in leases

30,041
19,69838,562
19,450

Other assets
Tangible fixed assets

288,261
83,132

292,489
81,471Intangible fixed assets
Retirement benefit asset

6,991
32,727

6,741
33,495

Deferred tax assets
Customers' liabilities for acceptances and guarantees

3,513
50,382

12,99858,915

Securities
Loans and bills discounted

Allowance for loan losses(81,348)(72,124)

12,182,662

12,189,687

9,931,230
403,327

9,971,672
455,516

Call money and bills soldCash collateral received for securities lent

78,078314,958

167,758
355,377

Trading account liabilities
Borrowed money

1,379
626,546

2,599
381,812

Foreign exchanges
Bonds payable171
20,0003,559
20,000

Other liabilities
Provision for bonuses

102,9812,878

143,649
2,771

2,652

2,515

287

280

Total assets
Liabilities
Deposits
Negotiable certificates of deposit

Retirement benefit liability
Provision for retirement benefits for directors (and otherofficers)
Provision for loss on interest repayment

188

Provision for reimbursement of deposits
Provision for point card certificates

530
83

454
86

Provision for management board benefit trust
Reserves under special laws

488
17346
17

Deferred tax liabilities
Deferred tax liabilities for land revaluation

1,421
8,883

441
8,690

Acceptances and guarantees
Total liabilities

3

50,382

58,915

11,546,318

11,576,471

(Millions of yen)
As of March 31, 2022

As of September 30, 2022

Net assets
Share capital
Capital surplus

50,00058,64850,00058,924Retained earnings
Treasury shares

511,253(25,045)

520,621(29,331)

Total shareholders' equity

594,855

600,214

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

8,171
4,749

(31,616)
16,907

Revaluation reserve for landRemeasurements of defined benefit plans

20,001
2,101

19,5601,883

Total accumulated other comprehensive income

35,023

6,734

Share acquisition rights
Non-controlling interests

81
6,382

43
6,223

636,344613,216

12,182,662

12,189,687

Total net assets
Total liabilities and net assets

4Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)

Ordinary income
Interest income

Six months ended

Six months ended

September 30, 2021

September 30, 2022

75,441
46,52574,31248,806

33,681
12,177

38,957
8,659

Fees and commissions
Gain on trading account transactions

13,218726

12,924
1,150

Other ordinary income
Other income

10,940
4,030

7,654
3,776

59,305
3,193

57,652
4,027

Interest on deposits
Fees and commissions payments

811
4,682

1,281
4,543

Loss on trading account transactions
Other ordinary expenses88
12,070–14,886

General and administrative expenses
Other expenses

30,7158,554

30,706
3,487

Ordinary profit

16,136

16,659Extraordinary income
Gain on disposal of non-current assets

9,100
6251
205

Gain on bargain purchase
Gain on step acquisitions

––

2223

Reversal of reserve for financial instruments transaction
liabilities

0–

9,094
4,647

–
407

71
3,334

55
352

Interest on loans and discounts
Interest and dividends on securities

Ordinary expenses
Interest expenses

Gain on return of assets from retirement benefits trust
Extraordinary lossesLoss on disposal of non-current assets
Impairment losses

1,241

–

Profit before income taxes

Loss on revision of retirement benefit plan

20,59016,503

Income taxes - current

4,055

2,517

Income taxes - deferred

4,212

1,567

Total income taxes

8,268

4,085

Profit12,321

12,418176

154

12,145

12,264

Profit attributable to non-controlling interests
Profit attributable to owners of parent

5Consolidated statements of comprehensive income (cumulative)(Millions of yen)

ProfitOther comprehensive income

Six months ended

Six months ended

September 30, 2021

September 30, 2022

12,321(8,132)

12,418(27,820)

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

3,694(3,266)(39,760)
12,158Remeasurements of defined benefit plans, net of tax(8,559)

(218)

4,189

(15,401)

4,002(15,584)

187

182

Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

6

Consolidated statements of changes in equity
Six months ended September 30, 2021
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning ofperiod

Capital surplus

50,000Retained earnings

58,654

528,085

Cumulative effects ofchanges in accounting
policies

Total shareholders'equityTreasury shares(18,649)

618,091(318)

Restated balance

50,00058,654

527,767(318)(18,649)

617,772

Changes during period
Dividends of surplus(3,225)(3,225)

Profit attributable toowners of parent

12,145

12,145Purchase of treasury
shares
Disposal of treasury
shares(6)

Reversal of revaluation
reserve for land

(0)

(0)

6255

1,822

1,822

Net changes in items
other than shareholders'equityTotal changes during
periodBalance at end of period–(6)

10,742

62

10,79850,00058,648538,510(18,586)

628,571

Accumulated other comprehensive income
Valuation
Deferred gains
difference onor losses onavailable-forhedges
sale securities
Balance at beginning ofperiod

19,477

1,480

TotalRevaluation
reserve forland

Remeasurements

accumulatedof definedotherbenefit planscomprehensive

Shareacquisitionrights

Noncontrollinginterests

117

6,228

income23,192

12,55356,702

Cumulative effects ofchanges in accounting
policies
Restated balance

Total net
assets681,139(318)
19,477

1,480

23,192

12,55356,702

117

6,228

680,820

Changes during period
Dividends of surplus(3,225)

Profit attributable toowners of parent

12,145Purchase of treasury
shares(0)

Disposal of treasury
shares55

Reversal of revaluation
reserve for land

1,822

Net changes in items
other than shareholders'equity3,683(3,266)(1,822)(8,559)(9,965)(35)

184(9,816)

Total changes during
period3,683(3,266)(1,822)(8,559)(9,965)

(35)

184

981

Balance at end of period

23,160(1,786)

21,3693,993

46,73681

6,412

681,802

7

Six months ended September 30, 2022
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning ofperiod

Capital surplus

50,000Retained earnings

58,648

Total shareholders'equityTreasury shares

511,253(25,045)594,855

Changes during period
Dividends of surplus(3,336)(3,336)

Profit attributable toowners of parent

12,264

12,264Purchase of treasury
shares
Disposal of treasury
shares(4,484)(4,484)

198

208

9

Purchase of shares ofconsolidated subsidiaries

266

266

Reversal of revaluation
reserve for land

440

440

Net changes in items
other than shareholders'equityTotal changes during
periodBalance at end of period

–

276

9,368

(4,285)

5,358

50,00058,924

520,621(29,331)600,214

Accumulated other comprehensive income
Valuation
Deferred gains
difference onor losses onavailable-forhedges
sale securities
Balance at beginning ofperiod

8,171

4,749

Total

Revaluation
reserve forland

Remeasurements

accumulatedof definedotherbenefit planscomprehensive

Shareacquisitionrights

Noncontrollinginterests

81

6,382

Total net
assetsincome20,001

2,101

35,023636,344

Changes during period
Dividends of surplus(3,336)

Profit attributable toowners of parent

12,264Purchase of treasury
shares(4,484)

Disposal of treasury
shares

208

Purchase of shares ofconsolidated subsidiaries

266

Reversal of revaluation
reserve for land440

Net changes in items
other than shareholders'equity(39,788)

12,158

(440)

(218)

(28,289)

(38)

(159)

(28,486)

Total changes during
period(39,788)

12,158

(440)

(218)

(28,289)

(38)

(159)

(23,127)

Balance at end of period(31,616)

16,907

19,560

1,883

6,734

43

6,223

613,2168