Note: 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 Year Ended March 31, 2023
[Japanese GAAP]May 12, 2023
Company name: Chugin Financial Group,Inc.
Stock exchange listing: Tokyo
Code number: 5832
URL: https://www.chugin-fg.co.jp/Representative: Sadanori Katoh
Director and President
Contact: Naoki Kenmochi
General Manager, Corporate Planning Department
Phone: +81-86-223-3110
Scheduled date of Annual General Meeting of Shareholders: June 23, 2023
Scheduled date of commencing dividend payments: June 26, 2023
Scheduled date of filing annual securities report: June 16, 2023
Trading Accounts: No
Availability of supplementary briefing material on annual financial results: Yes
Schedule of annual financial results briefing session: Yes(Amounts of less than one millions of yen are rounded down.)
1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2023 (April 1, 2022 to March 31, 2023)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable to owners ofOrdinary revenues
Ordinary profit
parentFiscal year ended
Millions of yen%
Millions of yen%
Millions of yen%March 31, 2023
183,586
29,593
20,477
March 31, 2022
(Note) Comprehensive income:Fiscal year ended March 31, 2023: ¥ (16,966) million [ -%]Fiscal year ended March 31, 2022: ¥- million [ -%]Basic earnings per Diluted earnings per Rate of return onshareshareequity
Fiscal year ended
March 31, 2023
March 31, 2022

YenYenOrdinary profit tototal assets ratio

Ordinary profit toordinary revenues
ratio%%%

110.96110.803.7
0.2
16.1(Reference) Equity in earnings (losses) of affiliated compamies: Fiscal year ended March 31, 2023: ¥ - million
Fiscal year ended March 31, 2022: ¥ - million(Note) As the Company was established on October 3, 2022, figures and year-on-year comparison percentages for the year ended
March 31,2023 are not presented.
(2) Consolidated Financial Position
Total assets
As ofMarch 31, 2023
March 31, 2022
(Reference) Equity:

Millions of yenNet assets
Millions of yen

Capital adequacy ratio%

9,849,678
527,894
5.3
As of March 31, 2023: ¥ 527,622 million
As of March 31, 2022: ¥- million(Note) As the Company was established on October 3, 2022, figures for the previous year are not presented.

Net assets per shareYen

2,872.19-

(3) Consolidated Cash Flows
Cash flows fromoperating activities

Cash flows frominvesting activities

Cash and cash
equivalents at the endof period

Cash flows fromfinancing activities

Millions of yen
Millions of yen
Millions of yen
Millions of yen
Fiscal year ended(403,482)
164,298(7,844)
1,506,361
March 31, 2023
March 31, 2022
(Note) As the Company was established on October 3, 2022, figures for the year ended March 31, 2023 are not presented.

2. Dividends
Annual dividends
1st
2nd
3rd
quarter-end quarter-end quarter-end

Year-end

Payoutratio

Total
dividends

Total

Fiscal year ended

Yen

Yen

Yen

Yen

March 31, 2022-----

March 31, 2023

---

16.00

16.00

-

15.00

-

15.00

30.00

(consolidated)

Yen Millions of yen

Dividends
to netassets(consolidated)%%---2,939

14.4

0.5

Fiscal year ending
March 31, 2024

36.2

(Forecast)(Note) 1. As the Company was established on October 3, 2022, figures for the year ended March 31, 2022 and those up to the 2ndquarter-end of the yaer ended March 31,2023 are not presented.
2. In the year ended March 31, 2023, The Chugoku Bank,Limited, which became a wholly-owned subsidiary of the Cpmpany
as a result of a sole share transfer, paid an interim dividend of ¥14 per share (total dividends: ¥2,586 million). Combinedwith the year-end dividend paid by the Company, cash dividends for the year came to ¥30 per share, for the dividends of¥5,525 million,with a payout ratio (consolidated) of 26.9% and the dividends to net assets (consolidated) equaling 1.0%.
3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024 (April 1, 2023 to March 31, 2024)(% indicates changes from the previous corresponding period.)
Profit attributable to
Basic earnings per
Ordinary revenues
Ordinary profit
owners of parentshare
Millions of yen%

Millions of yen%

Millions of yen%

Yen

Six months ending
82,40011,8008,200
45.22
September 30, 2023
Full year
167,200(8.9)
21,500(27.3)
15,000(26.7)
82.73(Note) As the Company was established on October 3, 2022, year-on-year comparison percentages for the first half of the year ending
March 31, 2023 are not presented.
* Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes inscope of consolidation): No(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement1) Changes in accounting policies due to the revision of accounting standards: Yes
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No

(3) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
March 31, 2023: 184,771,461 shares
March 31, 2022:- shares
2) Number of treasury shares at the end of the period:
March 31, 2023:
1,071,607 shares
March 31, 2022:- shares
3) Average number of shares outstanding during the period:
Fiscal Year ended March 31, 2023: 184,540,066 sharesFiscal Year ended March 31, 2022:- shares(Note) 1. As the Company was established on October 3, 2022, figures for the year ended March 31, 2023 are not presented.
2. As the Company is a company established on October 3, 2022, through a solo share transfer, the average number of ordinary
shares during the period was computed by using the average number of shares of The Chugoku Bank, Limited for theperiod from April 1, 2022 to October 2, 2022, and the average number of shares of the Company for the period from
October 3, 2022 to March 31, 2023.

Consolidated Financial Statements
Consolidated Balance Sheets(Millions of yen)
As of March 31, 2023
AssetsCash and due from banks
Call loans

1,510,394
178,907

Monetary claims bought
Trading securities

22,3292,023

Money held in trust
Securities

24,6002,324,053

Loans and bills discounted
Foreign exchanges

5,555,795
14,742

Lease receivables and investments in leases
Other assets

27,010
158,076

Tangible fixed assets
Buildings, net

35,631
10,043Land
Construction in progress

18,827
62Leased assets, net
Other tangible fixed assets

1,595
5,101

Intangible fixed assets
Software

1,712
1,251

Software in progress
Other intangible fixed assets

367
93

Deferred tax assets
Customers' liabilities for acceptances and guarantees

17,594
31,110Allowance for loan losses(54,302)

Total assets

9,849,678―1―

(Millions of yen)
As of March 31, 2023
Liabilities
Deposits

7,898,033

Negotiable certificates of deposit
Call money

155,489
179,987

Securities sold under repurchase agreements
Cash collateral received for securities lent

93,913
423,430

Commercial papers
Borrowed money

46,530320,843

Foreign exchanges
Bonds payable492
10,000Borrowed money from trust account
Other liabilities

8,496
147,572

Provision for bonuses
Provision for bonuses for directors (and other officers)

1,547
25

Retirement benefit liability
Provision for retirement benefits for directors (andother officers)
Provision for reimbursement of deposits
Provision for point card certificates

3,466
49250
114

Reserves under special laws
Deferred tax liabilities

7423

Acceptances and guarantees

31,110Total liabilities

9,321,784

Net assets
Share capitalCapital surplus

16,0007,302

Retained earnings
Treasury shares

479,223(1,000)Total shareholders' equity

501,526

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

34,234(3,320)Remeasurements of defined benefit plans(4,818)

Total accumulated other comprehensive income

26,096

Share acquisition rights

272

Total net assets

527,894

Total liabilities and net assets

9,849,678―2―

Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income(Millions of yen)
For the fiscal year
ended March 31, 2023
Ordinary income
Interest income

183,586
93,157

Interest on loans and discounts
Interest and dividends on securities

60,29429,653

Interest on call loans
Interest on deposits with banks

1,537
1,387

Other interest income
Trust fees

283
0

Fees and commissions
Other ordinary income

20,54547,440

Other income
Recoveries of written off receivables

22,44230

Other
Ordinary expenses

22,412
153,993

Interest expenses
Interest on deposits

28,134
4,222

Interest on negotiable certificates of deposit
Interest on call money
Interest expenses on securities sold under
repurchase agreements
Interest expenses on cash collateral received for
securities lentInterest expenses on commercial papers

22
2,485

Interest on borrowings and rediscounts
Interest expenses on bonds

2,037
78

2,135439
1,805

Other interest expenses
Fees and commissions payments

14,906
3,427

Other ordinary expenses
General and administrative expenses

56,33355,662Other expenses
Provision of allowance for loan losses

10,435
5,717

Other

4,718

Ordinary profit

29,593Extraordinary income
Gain on disposal of non-current assets

8989

Extraordinary losses
Loss on disposal of non-current assets179
123

Impairment losses

55

Profit before income taxes

29,503

Income taxes - current

9,705

Income taxes - deferred(679)

Total income taxes

9,025

Profit20,477

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

20,477―3―

Consolidated Statements of Comprehensive Income(Millions of yen)
For the fiscal year
ended March 31, 2023
ProfitOther comprehensive income

20,477(37,443)

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges(33,373)(2,713)Remeasurements of defined benefit plans, net of tax(1,356)Comprehensive income(16,966)

Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable to non-controllinginterests(16,966)-―4―Consolidated Statements of Changes in Net Assets
For the fiscal year ended March 31, 2023
(Millions of yen)
Shareholders' equity

Balance at beginningof period
Changes during
periodChanges by sharetransfer
Dividends ofsurplus
Profit attributable toowners of parent
Purchase oftreasury shares
Disposal of treasury
sharesCancellation oftreasury shares
Net changes in
items other thanshareholders' equity
Total changes
during period
Balance at end ofperiod

Share capital

Capital surplus

15,149

8,153

850

(850)

Retainedearnings

Treasury shares

Total
shareholders'equity(11,623)

488,618

476,938(5,651)(5,651)

20,477

20,4771(1,941)(1,941)

21

23

(1)

(12,540)

12,542

-

850

(850)

2,285

10,622

12,90816,0007,302

479,223(1,000)501,526

Accumulated other comprehensive income
Valuationdifference on
available-forsale securities
Balance at beginningof period
Changes during
periodChanges by sharetransfer
Dividends ofsurplus
Profit attributable toowners of parent
Purchase oftreasury shares
Disposal of treasury
sharesCancellation oftreasury shares
Net changes in
items other thanshareholders' equity
Total changes
during period
Balance at end ofperiod

67,608

Total
Deferred gains Remeasurements accumulated Share acquisition Total net assets
rightsor losses onof definedotherhedges
benefit plans comprehensive
income(606)(3,461)63,540256

552,414(5,651)
20,477(1,941)
23(33,373)(2,713)(1,356)(37,443)

15(37,428)(33,373)(2,713)(1,356)(37,443)

15(24,520)

34,234(3,320)(4,818)26,096272

527,894―5―

Consolidated Statements of Cash Flows(Millions of yen)
For the fiscal year
ended March 31, 2023
Cash flows from operating activities
Profit before income taxes

29,503

Depreciation
Impairment losses

3,177
55

Share-based payment expenses
Provision of allowance for doubtful accounts

39
5,717

Increase (decrease) in provision for bonuses
Increase (decrease) in provision for bonuses for
directors (and other officers)
Increase (decrease) in retirement benefit liability
Increase (decrease) in provision for retirement
benefits for directors (and other officers)
Increase (decrease) in provision for reimbursement ofdeposits
Increase (decrease) in provision for point cardcertificatesInterest income

67(93,157)

Interest expenses
Loss (gain) related to securities

28,134
1,745

Loss (gain) on money held in trust
Foreign exchange losses (gains)

297(36,402)0(290)
2190
6

Loss (gain) on disposal of non-current assets
Net decrease (increase) in trading securities

1811

Decrease (increase) in other assets
Net decrease (increase) in lease receivables andinvestments in leases
Increase (decrease) in other liabilities(14,065)

Net decrease (increase) in loans and bills discounted
Net increase (decrease) in deposits
Net increase (decrease) in negotiable certificates ofdeposit
Net increase (decrease) in borrowed money(excluding subordinated borrowings)
Net decrease (increase) in call loans
Net increase (decrease) in payables under repurchaseagreements
Net increase (decrease) in call money
Net increase (decrease) in cash collateral received for
securities lent
Net decrease (increase) in due from banks (excluding
due from Bank of Japan)
Net increase (decrease) in commercial papers
Net decrease (increase) in foreign exchanges - assets
Net increase (decrease) in foreign exchanges liabilities
Net increase (decrease) in borrowed money from trust
account
Interest received(300,191)
247,526

Interest paid

(28,113)

Subtotal(395,694)(1,606)21,098(55,678)(353,291)
265,676(97,093)
69,278(164,925)(256)(8,486)(8,459)(133)
1,560
91,567

Income taxes paid

(7,787)

Net cash provided by (used in) operating activities(403,482)―6―(Millions of yen)
For the fiscal year
ended March 31, 2023
Cash flows from investing activities
Purchase of securities(1,390,078)

Proceeds from sale of securities
Proceeds from redemption of securities

1,273,089
280,810

Increase in money held in trust
Decrease in money held in trust(7,323)
10,025Purchase of tangible fixed assets
Proceeds from sale of tangible fixed assets(2,143)562

Purchase of intangible fixed assets(642)

Net cash provided by (used in) investing activities

164,298

Cash flows from financing activities
Dividends paid
Purchase of treasury shares(5,651)(1,941)

Repayments of lease liabilities
Proceeds from sale of treasury shares

(251)
0

Proceeds from exercise of employee share options

0

Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents(7,844)(247,028)

Cash and cash equivalents at beginning of period

1,753,389

Cash and cash equivalents at end of period

1,506,361-―7―