Translation
Notice: 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 Three Months Ended June 30, 2024
(Under Japanese GAAP)
August 2, 2024
Company name:Yamaguchi Financial Group, Inc.

Stock exchange listing: Tokyo
Code number:

8418

URL

https://www.ymfg.co.jp

Representative:

Keisuke Mukunashi

President and CEOFor inquiry:

Kentaro Hama

General Manager of Accounting Office, Corporate Planning Department

Scheduled date to commence dividend payments:–Trading accounts:

EstablishedPreparation of supplementary material on quarterly financial results:

Attached

Schedule of quarterly financial results briefing session:

No(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the three months ended June 30, 2024 (from April 1, 2024 to June 30, 2024)(1) Consolidated operating results

Three months ended June 30, 2024
Three months ended June 30, 2023
Note:

Comprehensive income

Percentages indicate year-on-year changes
Profit attributable toOrdinary income
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen%
55,48521.5
16,06926.8
11,50131.1
45,68022.6
12,673
21.7
8,773
15.0
Three months ended June 30, 2024:
Three months ended June 30, 2023:
Basic earnings per share¥(3,075) million¥22,066 million

Diluted earnings per share

Yen
53.12
39.08

Three months ended June 30, 2024
Three months ended June 30, 2023

[ – %][ – %]

Yen
53.11
39.07

(2) Consolidated financial position
Total assets

Net assets

Capital adequacy ratio

Millions of yen
Millions of yen%
As of June 30, 2024
12,785,571
646,333
5.0
As of March 31, 2024
12,548,539
655,736
5.2
Reference: Equity As of June 30, 2024: ¥ 643,320 million
As of March 31, 2024: ¥ 652,770 million
Note: Capital adequacy ratio = (Net assets − Share acquisition rights − Non-controlling interests) / Total assets × 100
This ratio is not the capital adequacy ratio specified by the Notice on Capital Adequacy Ratio Regulations.
2. Dividends
Annual dividends per share
1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––Yen
21.00

Yen–

Yen
22.00

Yen
43.00

30.00

–

30.00

60.00

Fiscal year ended March 31, 2024
Fiscal year ending March 31, 2025
Fiscal year ending March 31, 2025
(Forecast)
Note: Revision to the forecast for dividends announced most recently: NoTotal

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2025(April 1, 2024 to March 31, 2025)
Percentages indicate year-on-year changes
Ordinary profit
Millions of yen
Six months ending
September 30, 2024
Full year
Note:

Profit attributable to Basic earnings perowners of parent
share% Millions of yen%
Yen

20,5002.8

14,3005.4

66.11

47,50027.4

33,00030.9

152.66

Revision to the financial results forecast announced most recently: No

4. Notes(1) Significant changes in the scope of consolidation during the three months ended June 30, 2024:

No(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements: No(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards:

No2) Changes in accounting policies other than 1) above:No3) Changes in accounting estimates:

No4) Retrospective restatement:No(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2024

234,767,616 shares As of March 31, 2024

234,767,616 shares

Number of treasury shares at the end of the period
As of June 30, 2024

18,714,554 shares As of March 31, 2024

17,855,208 shares216,529,077 shares Three months ended June 30, 2023

224,495,584 shares

Average number of shares during the period
Three months ended June 30, 2024

* Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or anaudit firm: No* Proper use of earnings forecasts, and other special matters.
The description of future performance of this report is based on information which is presently available and certain assumptions which areconsidered to be reasonable, and it does not guarantee future performance.
Please take note that future performance may differ from forecasts depending on various future factors.

Yamaguchi Financial Group, Inc.

Table of contents
1.Quarterly Consolidated Financial Statements and Notes ······································································· 2(1) Quarterly Consolidated Balance Sheets ·························································································· 2(2) Quarterly Consolidated Statements of Income and Comprehensive Income ··············································· 4(3) Notes to the Quarterly Consolidated Financial Statements ··································································· 6(Segment Information) ············································································································· 6(Notes for Material Changes in Shareholders’Equity) ············································································ 6(Notes on Going Concern Assumption) ··························································································· 6(Notes on Quarterly Consolidated Statements of Cash Flows) ································································· 6(Subsequent Events) ················································································································ 6-1-

Yamaguchi Financial Group, Inc.

1.Quarterly Consolidated Financial Statements and Notes(1) Quarterly Consolidated Balance Sheets(Millions of yen)
As of June 30, 2024

As of March 31, 2024
AssetsCash and due from banks
Call loans and bills bought
Monetary claims bought
Trading account assets
Money held in trust
Securities
Loans and bills discounted
Foreign exchanges
Lease receivables and investments in leases
Other assets
Tangible fixed assets
Intangible fixed assets
Retirement benefit asset
Deferred tax assets
Customers' liabilities for acceptances and guarantees
Allowance for loan losses
Total assets
Liabilities
Deposits
Negotiable certificates of deposit
Call money and bills soldCash collateral received for securities lent
Trading account liabilities
Borrowed moneyForeign exchanges
Bonds payable
Other liabilities
Provision for bonuses
Retirement benefit liability
Provision for retirement benefits for directors (andother officers)
Provision for loss on interest repayment
Provision for reimbursement of deposits
Provision for point card certificates
Provision for management board benefit trust
Provision for employee stock ownership plan trust
Reserves under special laws
Deferred tax liabilities
Deferred tax liabilities for land revaluation
Acceptances and guarantees
Total liabilities

1,386,904
1,940
4,058
31,0352,065,414
8,589,933
27,31424,047
290,459
82,181
7,092
44,768
1,684
63,917(72,214)
12,548,539

1,557,281
2,254
1,889
4,243
27,232
2,121,916
8,611,334
27,16525,169298,059
82,202
7,234
45,355
1,981
43,799(71,550)
12,785,571

10,057,923
286,100
438,028
194,308
1,730
615,961
116
42,400169,149
3,334
2,501

10,044,827
351,212359,641
423,371
1,819
664,428172
42,400191,620
1,657
2,524

279

269

13
235
138
543
45
19
7,691
8,363
63,917
11,892,802

8
191
136
581
58
19
2,1478,348
43,79912,139,237–-2-Yamaguchi Financial Group, Inc.

(Millions of yen)
As of June 30, 2024

As of March 31, 2024
Net assets
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Revaluation reserve for land
Foreign currency translation adjustments
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

50,00033,116
540,429(19,276)
604,270
5,251
17,535
18,826–

6,887
48,50023
2,941
655,736
12,548,539-3-

50,00033,116547,158(20,798)
609,477(8,384)
16,713
18,7939
6,711
33,843
23
2,989
646,333
12,785,571

Yamaguchi Financial Group, Inc.

(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income

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
General and administrative expenses
Other expenses
Ordinary profit
Extraordinary income
Gain on disposal of non-current assets
Compensation for forced relocation
Extraordinary losses
Loss on disposal of non-current assets
Impairment losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

Three months ended
June 30, 2023
45,68032,16725,336
6,235
7,189388
3,605
2,329
33,007
8,784
1,242
2,358
5,950
15,451461
12,673
82
82
–219
12
206
12,536
2,621
1,114
3,735
8,801
27
8,773

-4-

(Millions of yen)Three months ended
June 30, 2024
55,48541,55228,757
7,959
7,128
294
3,864
2,646
39,416
6,499
1,769
2,499
14,231
15,896290
16,069
256
17
239
56
52
4
16,269
4,104
615
4,720
11,54847
11,501

Yamaguchi Financial Group, Inc.

Quarterly Consolidated Statements of Comprehensive Income

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to noncontrolling interests

Three months ended
June 30, 2023
8,801
13,265
9,644
3,721
(100)

(Millions of yen)Three months ended
June 30, 2024
11,548(14,624)(13,667)
(821)
(175)

–40

22,066(3,075)22,038(3,122)2747-5-Yamaguchi Financial Group, Inc.

(3) Notes to the Quarterly Consolidated Financial Statements(Segment Information)
Segment information is omitted since the Group comprises of only one segment, which is defined as banking service.
(Notes for Material Changes in Shareholders’Equity)
In accordance with the resolution at the meeting of the Board of Directors held on May 10, 2024, the Company acquired 859
thousands of treasury shares during the three months ended June 30, 2024. As a result, treasury shares increased by ¥1,521
million to ¥20,798 million at the end of the first quarter of the fiscal year under review.
(Notes on Going Concern Assumption)
None(Notes on Quarterly Consolidated Statements of Cash Flows)

Quarterly consolidated statements of cash flows are not prepared for the three months ended June 30, 2024.
Depreciation (including amortization of intangible fixed assets except for goodwill) and amortization of goodwill forthe three months ended June 30, 2024 are as follows:
Three months ended
June 30, 2023

Depreciation
Amortization of goodwill

Millions of yen
1,043
13

Three months ended
June 30, 2024

Millions of yen
1,228
12(Subsequent Events)(Issuance of unsecured bonds (subordinated bonds with waivers in the event of substantial bankruptcy))
The Company, at the meeting of the Board of Directors held on July 22, 2024 , resolved to issue unsecured bonds
subject to early redemption (subordinated bonds with waivers in the event of substantial bankruptcy) (green bonds)(hereinafter referred to as “the bonds”), as well as submitted a shelf registration statement regarding the issuance ofthe bonds to the Director-General of the Kanto Finance Bureau.
The bonds to be issued shall be limited to ¥25 billion, and the funds will be used mainly for the appropriation of newor existing loans that meet the eligibility criteria described in the “Yamaguchi Financial Group, Inc.’s Green BondFramework” through the Group banks.
The Company will determine a specific time of issuance, total issued amount, interest rate, and other conditions,comprehensively considering factors such as demand situation and interest-rate movement.

-6-