Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Consolidated Financial Results for the Six Months Ended September 30, 2023
(Based on Japanese GAAP)
November 10, 2023
Company name:Yamaguchi Financial Group, Inc.
Stock exchange listing: Tokyo
Stock code:
8418
URL https://www.ymfg.co.jp
Representative:
President and CEO
General Manager of Accounting
Inquiries:
Office,Corporate Planning DepartmentScheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:
Trading accounts:
Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results meeting:Keisuke Mukunashi
Kentaro Hama

TEL

083-223-5511

November 24, 2023
December 8, 2023
Yes
Yes
Yes
(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, 2023 (from April 1, 2023 to September 30, 2023)(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, 2023
89,47920.4
19,938
19.7
13,571
10.7
Six months ended September 30, 2022
74,312(1.5)
16,6593.2
12,264
1.0
Earnings per share

Diluted earnings per share

Yen
60.81
52.23

Six months ended September 30, 2023
Six months ended September 30, 2022

Yen
60.80
52.22(2) Consolidated financial position
Total assets
As of September 30, 2023
As of March 31, 2023

Net assets

Millions of yen
12,588,555
12,211,645

Equity ratio

Millions of yen
619,997
614,665%
4.9
5.0

2. Cash dividends
Annual dividends per share

Year ended March 31, 2023
Year ending March 31, 2024

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
15.00
21.00

Yen–

Yen
16.00

Yen
31.00

–

22.00

43.00

Year ending March 31, 2024 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)
Percentages indicate year-on-year changes
Profit attributable toOrdinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen%
Yen
Full year
35,00036.2
24,00034.1
108.051

4. Notes(1) Changes in significant subsidiaries during the six months ended September 30, 2023
(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
NoChanges in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:No
Changes in accounting estimates:
No
Restatement of prior period financial statements:
No(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, 2023

234,767,616 shares As of March 31, 2023

264,353,616 shares

Number of treasury shares at the end of the period
As of September 30, 2023

13,702,326 shares As of March 31, 2023

39,260,405 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Six months ended September 30, 2023

223,186,344 shares Six months ended September 30, 2022

2234,811,068 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2023

As of September 30, 2023

AssetsCash and due from banks

1,878,858

1,777,529

Call loans and bills bought
Monetary claims bought

934
2,457

1,495
1,940

Trading account assets
Money held in trust

3,976
17,4044,921
36,804

1,534,139
8,347,832

1,848,456
8,434,333

Foreign exchanges
Lease receivables and investments in leases

36,77219,80531,28020,749Other assets
Tangible fixed assets

250,907
81,121305,945
80,769Intangible fixed assets
Retirement benefit asset

6,577
34,335

6,592
35,480

Deferred tax assets
Customers' liabilities for acceptances and guarantees

9,964
58,967

9,726
64,126

Securities
Loans and bills discounted

Allowance for loan losses(72,410)(71,596)

12,211,645

12,588,555

9,954,008
371,711

9,954,562
391,821

Call money and bills soldCash collateral received for securities lent

340,052
285,322455,086
361,316

Trading account liabilities
Borrowed money

1,813
403,3032,295
499,763

Foreign exchanges
Bonds payable

98
42,400159
42,400

Other liabilities
Provision for bonuses

123,479
2,695

181,188
2,700

2,588

2,500

281

278

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

1323

Provision for reimbursement of deposits
Provision for point card certificates359
124306
132

Provision for management board benefit trust
Provision for employee stock ownership plan trust

427
–464
68

Reserves under special laws
Deferred tax liabilities

17683

17
763

8,628
58,967

8,582
64,126

11,596,980

11,968,558

Deferred tax liabilities for land revaluation
Acceptances and guarantees
Total liabilities

3

(Millions of yen)
As of March 31, 2023

As of September 30, 2023

Net assets
Share capital
Capital surplus

50,00058,63950,00033,116

Retained earningsTreasury shares

522,893(34,847)

532,959(13,594)

Total shareholders' equity

596,685

602,482

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges(17,237)
11,253(33,315)
27,136

Revaluation reserve for landRemeasurements of defined benefit plans

19,432
1,678

19,326
1,477

Total accumulated other comprehensive income

15,126

14,624

Share acquisition rights
Non-controlling interests

43
2,809

23
2,866

614,665

619,997

12,211,645

12,588,555

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)Six months ended
September 30, 2022

Six months ended
September 30, 2023

Ordinary income
Interest income
Interest on loans and discounts
Interest and dividends on securities
Fees and commissions
Gain on trading account transactions
Other ordinary income
Other income
Ordinary expenses
Interest expenses
Interest on deposits
Fees and commissions payments
Other ordinary expenses

74,31248,806
38,957
8,659
12,924
1,150
7,654
3,776
57,652
4,027
1,281
4,543
14,88689,47963,67751,591
10,897
14,242
872
6,647
4,038
69,54017,413
2,414
4,743
13,364General and administrative expenses
Other expenses

30,706
3,487

31,2152,804

16,65919,938

251
205
22
23
407
55
352

228
228
––
336
123
212

Profit before income taxes

16,503

19,831

Income taxes - current
Income taxes - deferred

2,517
1,567

5,673
529

Total income taxes

4,085

6,202

Profit12,418

13,628154

56

12,264

13,571

Ordinary profit
Extraordinary income
Gain on disposal of non-current assets
Gain on bargain purchase
Gain on step acquisitions
Extraordinary losses
Loss on disposal of non-current assets
Impairment losses

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

5Consolidated statements of comprehensive income (cumulative)

ProfitOther comprehensive income(Millions of yen)Six months ended

Six months ended

September 30, 2022

September 30, 2023

12,418(27,820)

13,628(395)

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges(39,760)
12,158(16,077)
15,883Remeasurements of defined benefit plans, net of tax

(218)

(201)

(15,401)

13,232(15,584)

13,175

182

56

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, 2022
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning ofperiod

Capital surplus

50,000Retained earnings

58,648

Total shareholders'

Treasury shares

511,253

equity(25,045)594,855Changes during period
Dividends of surplus
Profit attributable toowners of parent(3,336)(3,336)

12,264

12,264Purchase of treasury
shares
Disposal of treasury(4,484)(4,484)198

208

9shares
Purchase of shares of
consolidated subsidiaries

266

266

Reversal of revaluation

440

reserve for land440

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 gainsdifference onor losses onavailable-forhedges
sale securities
Balance at beginning of
period

8,171

4,749

TotalRevaluation
reserve for

Remeasurements

accumulatedof definedotherland

benefit planscomprehensive

Shareacquisition

Noncontrollingrightsinterests

Total net
assetsincome20,001

2,101

35,023

81

6,382

636,344

Changes during period
Dividends of surplus(3,336)

Profit attributable toowners of parent

12,264Purchase of treasury(4,484)

shares
Disposal of treasury
shares

208

Purchase of shares of266

consolidated subsidiaries
Reversal of revaluationreserve for land440

Net changes in items
other than shareholders'equityTotal changes during
periodBalance at end of period(39,788)

12,158

(440)

(218)

(28,289)

(38)

(159)

(28,486)(39,788)

12,158

(440)

(218)

(28,289)

(38)

(159)

(23,127)(31,616)

16,907

19,560

1,883

6,734

43

6,223

613,2167

Six months ended September 30, 2023
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of
periodCapital surplus

50,000Retained earnings

58,639Total shareholders'

Treasury shares

522,893

equity(34,847)

596,685

Changes during period
Dividends of surplus
Profit attributable toowners of parent(3,611)(3,611)

13,571

13,571

Purchase of treasury
shares(5,075)(5,075)

(22)

828

806

(25,500)

25,500–

Disposal of treasury
sharesCancellation of treasury
shares
Reversal of revaluation

105

reserve for land105

Net changes in items
other than shareholders'equityTotal changes during
periodBalance at end of period–(25,522)

10,065

21,252

5,796

50,00033,116532,959(13,594)

602,482

Accumulated other comprehensive incomeValuation
Deferred gains
difference onor losses onavailable-forhedges
sale securities
Balance at beginning of
period(17,237)

11,253

Total

Revaluation
reserve for

Remeasurements

accumulatedof definedotherland

benefit planscomprehensive

Shareacquisition

Noncontrollingrightsinterests

Total net
assetsincome19,432

1,678

15,126

43

2,809

614,665

Changes during period
Dividends of surplus(3,611)

Profit attributable toowners of parent

13,571

Purchase of treasury(5,075)

shares
Disposal of treasury
shares806

Cancellation of treasury–shares
Reversal of revaluation
reserve for land105

Net changes in items
other than shareholders'equityTotal changes during
periodBalance at end of period(16,077)

15,883

(105)

(201)

(501)

(19)

56

(464)

(16,077)

15,883

(105)

(201)

(501)

(19)

56

5,331

(33,315)

27,136

19,326

1,477

14,624

23

2,866

619,9978