80 Years of Gratitude

2023

Annual Report
Year Ended March 31, 2023

Table of Contents

Keiyo Bank’s communication symbol

3 Message from the President

The overlapping lines drawn by the character

9 Value Creation Process

7 The Potential of Major Markets

and their upward extension represent

the ties between people and the future that extends infinitely from that starting point.

11 Financial Highlights (non-consolidated)

The communication name α Bank means “valuing ties with people, aiming to forge an

12 Non-financial Highlights

endless future” and “always wanting to continuously offer something extra to our

13 19th Medium-term Business Plan:customers,” and this expresses the sentiments of Keiyo Bank.

State of Progress

15 Human Resources Strategy

Into the future with solid ties.

17 Sustainability Initiatives
19 Environmental Conservation Initiatives
23 Board of Directors, Audit & Supervisory
Board Members and Executive Officers

25 Corporate Governance
30 Corporate Data
32 Stock Information
33 Financial Data

1

Panoramic view of Umihotaru Parking Area from Tokyo Bay

2Message from the President

Into the futurewith solid ties
Toshiyuki Kumagai
President

Introduction
Please accept my sincere gratitude for yourcontinued patronage and support for the
Keiyo Bank.
The Bank celebrated its 80th anniversary inMarch 2023. This is thanks to the patronage
and support we have received over theyears from everyone in the local community,and I would like to take this opportunity to
express our sincere gratitude from all of our
executives and employees.
As we look forward to our 90th and 100th
anniversaries, by continuing to practicemanagement rooted in the community morethan ever before and offering something
extra while adapting flexibly to all changes inthe times, we will create a virtuous cycle ofgrowth together with our local customers.

Our recognition of the businessenvironment

Summary of financial resultsfor FY2022

Looking back at the financial and economic situation in fiscal

In fiscal 2021, the Group initiated its 19th Medium-term Busi-

2022, the Japanese economy showed a gradual recovery

ness Plan, “αACTION PLAN 2024 - Further Advancements -.”centered on consumer spending, as efforts to achieve a bal-

In fiscal 2022, the second year of the plan, financial perfor-

ance between the suppression of COVID-19 and sustaining

mance was generally in line with the plan due to steadyeconomic activities progressed. On the other hand, there was

growth in solution-related fees from corporate customers, anincreased uncertainty throughout the year due to major finan-

overall reduction in property and equipment expenses due tocial tightening policies implemented in various countries, driv-

a revision of our branch office structure, and curbing of cred-en by global inflationary pressures stemming from shortages

it-related expenses by taking a more customer-orientedof energy and raw materials due to international conditions.

approach.

As for the economy of Chiba Prefecture, our Bank’s operating

The measures we have taken include strengthening efforts

base, an overall gradual recovery trend was observed in per-such as thorough financing support for customers affected bysonal consumption and employment conditions. However,

the COVID-19 pandemic exceeding three years and price in-some areas of production activity were weak due to con-creases, core business support for the post COVID-19 era,straints on the supply side and surges in raw material prices.

and initiatives related to sustainability, which is being consid-

In addition to these economic conditions, regional financial

ered as a social requirement.

institutions are finding themselves in a business environment

Furthermore, as a measure related to a strategic business al-that is drastically changing against the backdrop of diversify-

liance with Resona Holdings, Inc. (“Resona HD”) in August

ing lifestyles and progress of digital technology in addition to2021, we entered into a basic agreement for the development

the prolonged low interest rate environment and the decliningof a new banking app, and jointly originated syndicated loans,birthrate coupled with an aging and shrinking of the popula-co-hosted business meetings, started handling asset man-tion, and the speed of these changes is accelerating moreagement products, and promoted human resource exchange

than ever before. Our customers’ challenges and needs areat the headquarters and sales departments. We will continue

becoming more diverse and sophisticated every year, and I

to deliver optimal solutions to the community by taking ad-

believe that we need to undertake a further evolution of ourvantage of the synergies between our information and know-

financial services as a Group.

how in the three areas of digital technology, solutions andChiba Prefecture, where the Bank mainly operates, is blessed

human resource development.

with agriculture, fisheries, and tourism resources due to its
topography bordering Tokyo Bay and the Pacific Ocean,abundant nature, and mild climate, as well as easy access tocentral Tokyo, which has resulted in an increasing inflow ofProgress of the Medium-term
Business Plan

young people, especially those raising children. The area also
has a potential for medium- to long-term economic growth,This fiscal year is the final year of the Medium-term Businessas it has a waterfront area important for the manufacturing

Plan. Based on the three basic strategies set forth in our Me-

industry, and the transportation infrastructure, including thedium-term Business Plan, we intend to build a sustainable

expressway and railroad networks, and Narita Airport thatbusiness model that is resilient to changes in the businesssupport logistics and human flow, is being developed moreenvironment, and we will contribute more actively to the local

and more. The Bank has expanded its branch network

economy than ever before by aiming to be an appealing andthroughout this fertile market in Chiba Prefecture, and has

dynamic bank providing our customers with trust, conve-

established strong relations with local businesses and munic-

nience, and a high level of satisfaction.

ipalities. Through business activities that utilize the Bank’s financial capital, human capital, intellectual capital in
combination with such social and relationship capital, we willcontribute to the further growth and development of all our
stakeholders.

34Basic Strategy (1): Strengthen solution-based
business operations

Basic Strategy (2): Improve productivity whiledeveloping human resources

The Keiyo Bank Group as a whole is working to enhance its

By leveraging digital technology, we are striving to improve

solution sales structure, and is also actively engaged in part-productivity for both the Bank and its customers and to devel-nerships and collaborations with strategic external partners,

op human resources to solve issues.

in order to uncover increasingly diverse and sophisticated is-

In April 2022, we formulated the POLESTAR Plan, our medi-sues and needs of local communities and customers, present

um- to long-term digital strategy, to deliver new value to oursolutions, and support their implementation.

customers and local communities through digital technology.

For our corporate customers, in fiscal 2022, in order to pro-

We have also introduced measures to enhance CX (customer

vide support for adapting to the changes in the business en-experience) and EX (employee experience) as we strive to im-vironment caused by prolonged COVID-19 pandemic, we

prove customer convenience. Such measures include the ex-

actively engaged in efforts to support the formulation of busi-

pansion of our Branch Visit Reservation Service to all of ourness improvement plans. We also utilized subordinated loans,branches which enables customers to reserve appointments

which are more extensive in terms of capital, and started theat any time via smartphones and other devices, the introduc-

full-scale operation of ICT (information communication tech-tion of electronic signature for contracts to simplify home loan

nology)procedures, and the launch of a web opening service for mu-

consulting

servicestosupportproductivity

improvements.

tual fund accounts which allows customers to complete

In the current fiscal year as well, we will continue to support

transactions without visiting the bank.

our customers’ sustainable growth by offering solutions that

These strategies, structures, and initiatives of the Bank haveleverage our financial intermediary function, starting with in-

been regarded highly, and in October 2022, we received thedepth dialogue with management, and by providing close-fol-DX-certified Operator certification from Ministry of Economy,

lowing support for initiatives such as the use of subsidies for

Trade and Industry.

business restructuring and decarbonization. Furthermore, we

In human resource development, the Group regards humanare striving to strengthen our response to the serious social

resources as a valuable asset and an important capital for

issue of business succession among small and medium-sizedenhancing corporate value, and it has expanded personnel

companies, by leveraging a business succession fund estab-exchanges with external parties and mid-career hiring in orderlished in collaboration with group companies such as Keiyo

to develop a diverse range of specialized human resources.

integrated risk management and reducing costs through pro-recommendations of the TCFD (Task Force on Climate-relat-

Bank Capital & Consulting.

In the current fiscal year as well, we are expanding our practi-

ductivity improvement while maintaining proactive investment

ed Financial Disclosures).

For our retail customers, in June 2022, as a partnership mea-

cal training curriculum to improve knowledge and skills of ourthat contributes to improving customer services.

sure with Resona HD, we started offering the Keiyo Bank

employees. We are also promoting organizational revitaliza-

Fund Wrap service, which aims to provide optimal asset man-tion and diversity and inclusion by actively and appropriately

agement that fits each customer’s life plans through detailed

promoting personnel to upper-level positions by breaking

consulting. We have also enhanced our efforts in trust andaway from the seniority-based system and expanding the op-

inheritance services to respond to increasing inheritance andportunities for female and senior employees to play an active

asset succession needs.

role in their work.

In fiscal 2022, we established the Sustainability Committee

in the Plan’s numerical targets.

Going forward, in the era of 100-year lifespans, we will contin-

Sustainability initiatives

Conclusion

Terms such as sustainability, carbon neutrality, and SDGs

As we enter the final year of our Medium-term Business Plan

have become commonly used worldwide, and regional finan-

this fiscal year, we will accelerate our efforts in each strategy

cial institutions are required to play various social roles.

and measure to achieve the management indicators set forthand set ESG-related loan and investment targets with the aim

All of the executives and employees at the Keiyo Bank Grouptribute to household asset formation, asset management,

Basic Strategy (3): Bolster our managementfoundation

for the realization of a sustainable society and the improve-

will make ever greater efforts as we continue to advance “intoand asset inheritance, as we strive to pursue our customers’

We are working to bolster our management foundation byment of the Group’s corporate value.

the future with solid ties” with all of our stakeholders. We sin-best interests under the policy of customer-oriented businessappropriately controlling risks and costs. In terms of credit

In the current fiscal year as well, we will continue to work ac-

cerely appreciate your continued support and patronage, andoperations, and work toward offering high-quality consulting

risk, we have ensured the adequacy of future allowances intively to support the sophistication of our customer’s sustain-

will continue to strive for the further development and growth

and after-sales services.

anticipation of the full-scale repayment of interest-free andability management and environmental conservation activitiesof the local economy in order to live up to the trust and expec-

unsecured loans, and for market risk, we have established athrough initiatives such as sustainable finance, and we will

tations of our stakeholders.

system to ensure profitability while maintaining appropriate

also work to enhance disclosure items in line with theue to enhance our lineup of products and services that con-risk control. In order to continue to expand earnings while

July 2023

maintaining sound management, we will work to further
strengthen our management foundation by sophisticating

5

6

The Potential of Major Markets
Chiba Prefecture, which serves as our main sales area, has a well-balanced industrial structure, with agriculture, fisheries, industry,
and commerce each among the best in Japan. In addition to a net population influx and further development of transportation infrastructure, the rich natural environment, including the sea, is a tourism resource, and the area has high potential for further devel-

Ample transportation infrastructure and geographic features
Transportation infrastructure is advancing to new levels of development with aopment and growth in the future.

third runway at Narita Airport scheduled

Demographics of continued net population influx

Joban Expy.

to be completed in March 2029 and the

Ken-O Expy.

ongoing construction of the Ken-O ExWith a population of 6.26 million, Chiba Prefecture is the sixth most populous prefecture in Japan, and ranks fourth in terms of thepressway from Daiei JCT to Matsuo Yo-

net number of new residents moving in from other prefectures in Japan. In addition to being blessed with abundant nature despite

koshiba IC for opening to traffic. Further

being situated in the greater metropolitan Tokyo area, Chiba Prefecture is characterized by its easy access to transportation, which

expansion of logistics functionality is ex-

has led to an increase in the number of young people, especially those raising children, moving into the area.

pected, with road improvements planned
for the North Chiba Road and the Sec-

Number of excess relocations by prefecture(Unit: 10,000 persons)628 627626
625 625
624
623

2016

2017

2018

2019

2020

2021

2022

Source: Statistics Bureau, Ministry of Internal Affairs and Communications, “Population Estimates” (reference date: October 1 of each year)

Home to Makuhari Messe, one of the

1 stlargest convention facilities in Asia, lo-

2 ndKanagawa

3 rdMetropolitan
Expy.

ond Bayshore Route expressway.

(Japanese citizens)33,909

Tokyo

Higashi Kanto Expy.

cated between Narita Airport and Tokyo,

22,492

Chiba Prefecture also has a wealth of

Saitama

19,270

logistics and human flow, making it an

4 th

Chiba



5 th

Fukuoka

8,886

18,740infrastructure and facilities that support

Makuhari Messe

Ken-O Expy.
Daiei JCT – Matsuo
Yokoshiba IC
Construction inprogress for opening
to traffic

NaritaWangan Expy.
Chiba Port

Aq

ua

Haneda

-L

ine

Ex

Narita Airport
March 2029
No. 3 Runway
completion
plannedpy.

Kisarazu Port
Tateyama Expy.

Chiba Prefectural population statistics

Outer Ring Expy.

important hub connecting Japan andthe world.

Source: Statistics Bureau, Ministry of Internal Affairs and Communications, “Annual Report on Internal Migration in Japan Derived from Basic
Resident Registration 2022”

A well-balanced industrial structureWith its mild climate and the large geographical area, it occupies within the major economic consumption zone centering on greater
metropolitan Tokyo, Chiba is among the top-ranked prefectures in Japan in terms of agricultural output and marine fisheries catch.
In addition to its manufacturing industry in waterfront areas, its transportation infrastructure such as expressways and rail networks
are well developed, making the area increasingly attractive as a factory location, forming a well-balanced industrial structure.

Sources:7

Agricultural
output value

JPY347.1 6th*

Manufactured
goods value

JPY11.9 8th*trillion1billion3

 102,000 6th*
tons

Annualmerchandisesales

 JPY13.0 9th*trillion

182,000 9th*

Entry rate*

Total trade by port

JPY39.9 1st*

Prefectural grossproduction (nominal)

5

trillion7*1. Ministry of Agriculture, Forestry and Fisheries, “Agricultural Output andAgricultural Income Produced, 2021”*3. Ministry of Internal Affairs and Communications, Ministry of Economy, Tradeand Industry, “Economic Census (Manufacturing), 2021”*5. Ministry of Internal Affairs and Communications, Ministry of Economy, Tradeand Industry, “Economic Census for Business Activity 2021 Preliminary
Tabulation”*7. Total value of exports and imports, from Trade Statistics 2021, Ministry of
Finance (The figures for Chiba Prefecture comprise the total of Narita
International Airport, Chiba Port, and Kisarazu Port.)

Given Chiba’s net population influx, industrial structure and transportation infrastructure, officially assessed land values in the prefecture continue to rise in all categories.

Chiba Prefecture’s officially assessed land values (average rate of change from the previous year)

Marine fisheries
catch

Number ofbusinesses

Assessed land values continue to rise as demand increases

2

ー Residential zones

ー Commercial zones

ー Industrial zones

(%)

7.7

4



5.0 % 4th*6 JPY21.2 7th*trillion8*2. Ministry of Agriculture, Forestry and Fisheries, “Fisheries and Aquaculture Production
Statistics, 2022”*4. Ministry of Internal Affairs and Communications, Ministry of Economy, Trade andIndustry, “Economic Census (Wholesale and Retail Trade), 2021”*6. Small and Medium Enterprise Agency, “2023 White Paper on Small and Medium
Enterprises in Japan”*Entry rate: Number of places of business that newly established employment relationships during the fiscal year/comparable number as of the end of the previous
fiscal year.
*8. Cabinet Office, Government of Japan, “Prefectural Accounts for Fiscal Year 2019”

5.3

3.4
2.9
1.8

1.5

1.4

0.9

1.4

0.2

0.2

2016

2017

3.3

1.9
1.2

1.7
0.4
2018

2.9

2.9

0.6
2019

0.7

2020

2.3

0.5
0.1

0.7

2021

2022

2023

Source: Chiba Prefecture, “Land Value Assessments” (reference date: January 1 of each year)8Value Creation Process

External environmental
factors affecting
business

The bank we aspire to be

An appealing and dynamic bank

Key sustainability priority items(SDGs Declaration)

Utilized capitalproviding our customers with trust, convenience, and a high level of satisfaction

The Keiyo Bank business model

See P.17

See P.13

Sustainability
realization

Customer

Financial capital
The COVID-19
pandemic

Local economy/community
We will contribute to the developmentof local economies by helping to resolve
issues faced by our customers and theircommunities.

Low fertility,
aging population &successor scarcity●P roviding a broad range of(March 2023)

19th Medium-term Business Plan

Balance of deposits

JPY5,302.9

Balance of loans andbills discounted

JPY4,087.7

Capital adequacy ratio(consolidated)

10.88 ％

billionLifestyle changes

We will help build a society in which individual diversity is respected and each
person can be fulfilled in work and lifestyle, playing an active part in their own
way.

Environmental conservation
We are committed to reducing the environmental impact of society as a whole,and to environmental conservation, as
we aim to realize a low-carbon, recycling-oriented society.

Small and medium-sizedenterprise consultants

19

Labor and social security
attorney

23

Securities analysts

11
122

Shareholders● Proactive dialogue andhighly transparent information disclosure● Enhanced shareholder
returns

We will utilize digital technology to improve theproductivity of both our Bank and our customers,
and develop human resources to solve problems

Initiatives taken
as a business

Bolster our management foundation

Helping make a difference
on climate change andother social issues

within a unified Keiyo Bank Group●L ocal familiarity, expertise andFoundation for Growth

networks● Solid business foundation●C ommunity-rooted branch network

revitalization● Environmental impact

reduction

Initiatives tobuild managementfoundations●D iversified information & solutions

Medium- to long-term
increase in corporate
value
Corporate
governanceCompliance

Local communities●L ocal economic

By properly controlling risks and costs, we aim tostrengthen our management base and achievesustainable growth together with the community.

Intellectual capital

products, and highly
specialized solutions● Providing financial services
that are convenient, safe,
and comfortable always
and everywhere

Creation of sharedvalue through our corebusiness

Improve productivity while developing human resources

Broad-based specialist
human resources

Social, relationshipcapitalSDGs

Strengthen solution-based business operations

Core businessinitiatives

1,911

FP1 (including CFP)

Rapid progress indigitalization

Deregulation

Employees-Further advancements-

We will strengthen our sales efforts to discover issues facing local communities and customers,present solutions, and provide support for
implementation.

(March 2023)

Diversity & inclusion

ACTION PLAN 2024

billion

Human capital
Prolongation of
the low-interest
environment

Contribution to
stakeholders

Employees● Great place to work●D iverse work styles andwork-life balance

Riskmanagement● The potential of key markets

Sustainable increase of corporate value through the value creation cycle

910Financial Highlights (non-consolidated)

JPY5,302.9
billionBalance of deposits

Non-financial Highlights

JPY4,087.7
billionBalance of loans andbills discounted(Unit: JPY1 billion)

4,929.7

5,145.9

ESG-related investment &loan amount

JPY193.5(Unit: JPY1 billion)

5,302.9

4,087.7
3,875.6

Number of
consignments

Cumulative results for SDGs
Donation-Type Private
Placement Bonds

276

Amount donatedbillion3,898.7

JPY40.66
million(April 1, 2021 - March 31, 2023)

2021/3
Ordinary
profit2022/32023/32021/3

JPY14.7 Profit JPY10.3■Ordinary profit

billionbillion■Profit(Unit: JPY1 billion)

15.7

11.5

10.3

2022/3

100(Unit: JPY1 billion)

Female4,216.3

100

3,914.1

2023/32021/3

JPY3,277.3

3,176.3

2022/3%30.8%(as of April 1, 2023)

2022/3

Number of female
directors and executive
officers

Ratio of outside directors

40.0

JPY1,679.8
billion1,653.9

2%

1,679.8(as of June 28, 2023)

1,596.92021/3(%)

11.15

2023/3(Unit: JPY1 billion)

3,277.3

2023/3%(Assistant managers and higher)

Balance of housing loans

billion10.88 %

Capital adequacy ratio

11.25

Percentage of women in
leadership positions

Malebillion

JPY4,216.3(Unit: JPY1 billion)

2021/3

Childcare leave
use rate(eligible from April 1, 2022 to March 31, 2023)

Balance of loans to small andmedium-sized companies, etc.

3,111.3(as of March 31, 2023)

2023/3

4,077.9

7.32021/3

Personal deposit balance

14.7
11.0

2022/3(Offered beginning in August 2020)2022/364.26 %

OHR

65.99

10.88

Rating information

2023/3

61.90

64.26

(%)

(as of June 28, 2023)

External assessment

Japan Credit Rating Agency
(JCR)

A+
Platinum Kurumin Plus

Ikumen Company Award 2018
Dual Support Category

Eruboshi

S&P Global rating
Domestic
standards
4%2021/32022/32023/32021/32022/32023/3*Indicates that the smaller the figure, the higher the efficiency.

11

A(as of June 30, 2023)

Excellent Health Management Corporation
2023 (Large Corporation Division)

DX-certified Operator

12

19th Medium-term Business Plan: State of Progress
19th Medium-term Business Plan (April 2021 - March 2024)

19th Medium-term
Business Plan

Thoughts behind the subtitle “Further Advancements”

ACTION PLAN 2024

- Further Advancements -Three basic strategies▲ ▲Basic strategy (2)Basic strategy (3)Strengthen solution-based
business operations

Improve productivity whiledeveloping human resources

Bolster ourmanagement foundation

We will strengthen our sales efforts to discover issues facing
local communities and customers, present solutions, and provide support for implementation.

We will utilize digital technology
to improve the productivity ofboth our Bank and our customers, and develop human resources to solve problems.

By properly controlling risks
and costs, we aim to strengthen our management base andachieve sustainable growth together with the community.

Positioning the plan

13

(Aspirational ideal)

Population

Population
Households

Households

Expansion of transaction
base centered on deposits

Face-to-face

Increase consulting revenues byleveraging our transaction base

“Strengthen solution-based
business operations”
Increase/diversify income

Area-based system trial
Branch-internal offices(8 branches)

Area-based system expanded
to all branches
Revision of branchcharacteristics

Branch network
maximization

Nonface-to-face

Key themes
ChannelHuman
resources

Management resources

External
partnerships

Households

After 10 years(2021.4 - 2024.3)

Expand digital contact
pointsNon-face-to-face service
enhancement

Expand digital contact points
Strengthen non-face-to-faceconsulting

Leverage next-generation
infrastructure systems to
improve services

Securities brokerage(SBI Securities)

Stable andsustainablegrowth withlocal customers

Optimalomnichannel

Professionalorganizations

Strategic reallocation of
personnel
Revitalize internal/
external interactions

Specialist humanresources development

Corporate/individual solutions
sectors, digital sector, etc.

Expand partnerships
including in other industries

Diverse partners

An appealing and dynamic bank providing our customers
with trust, convenience, and a high level of satisfaction(2018.4 - 2021.3)

19th Medium-term Business Plan

The bank weaspire to be(Previous) 18th Medium-term
Business Plan

Newly established at
Headquarters Sales Department
Begin area-internal OJTInvigorating
local communities

Making ourcustomers smilefor sustainablecommunity
growthfor sustainablegrowthA virtuous
cycle of growth

Evolution of solutions services
E volution of problem-solving
abilitiesE volution of humanresources abilities

Our customers’appreciation leads
to employee pride,
confidence andautonomous
growthState of progress on key indexes

We will delve more deeply into the initiatives of the previous Medium-term Business Plan and develop solution-based
business operations by leveraging our transaction base.

Population▲

Basic strategy (1)Markets

By evolving the initiatives of the previous 18th Medium-term Plan to a new stage with our latest Medium-term Plan, we will create a virtuous cycle of growth
together with our customers in the regional community. This is the attitude and intention behind it.

In the year through March 2023, business results generally exceeded the initial plan due to steady growth in corporate
solutions-related fees, as well as reduction of costs centered on property and equipment expenses due to a revision of
our branch office structure, and the curbing of credit-related expenses.

Key indexes

2022/3(performance)

2023/3(performance)

2024/3 (planned)

Profit attributable to owners of parent

JPY11.1 billion

JPY10.3 billion

JPY8.0 billion

Capital adequacy ratio (consolidated)

11.17%

10.88%

11% (approx.)

OHR (non-consolidated)

61.90%

64.26%

60% level

State of progress in key figures for each strategy
Utilizing the transaction platform inherited from the previous Medium-term Business Plan, we are steadily implementing
the three basic strategies set forth in the current Medium-term Business Plan. We will accelerate our efforts on eachstrategy to build a sustainable business model that will not be shaken by changes in the business environment.

Corporate solutions

2022/3(performance)

2023/3(performance)

2024/3 (planned)

JPY1,436.1 billion

JPY1,510.1 billion

JPY1,600.0 billion

JPY2.6 billion

JPY2.7 billion

JPY3.0 billion

JPY1,653.9 billion

JPY1,679.8 billion

JPY1,780.0 billion

JPY3.6 billion

JPY2.8 billion

JPY3.5 billion

Investment trust accounts(containing balances)

46,00050,00050,000Individual digital contact points*3

580,000

730,000

750,000

Corporate IB contracts

15,00017,00017,000FP1-certified personnel

127

122

150

External organization dispatch/
acceptance (3-year total)

19

41

40

73.7%

79.6%

80%

Balance of loans to small andmedium-sized companies*1
Fees related to corporate solutions*2
Balance of housing loans*1

Individual life
planning support

Progress indigitalization

Human resources
strategy

Fees related to assets under custody

Paid leave utilization rate

*1. Planned figures are before partial direct depreciation is applied*2. Includes the portion for Keiyo Bank Capital & Consulting*3. Total of Internet banking, smartphone apps, Sign-in Anywhere, LINE friend registration, and Salesforce Cloud My Page

14

Human resources strategy
It is necessary to have employees who can consistently provide high added value in order to achieve sustainable growth with our customers
through financial services. We strive to enhance training, evaluation, andimprove motivation to increase the number of employees who are appreciated and rejoiced by our customers. In addition, we will establish various
systems and realize diverse work styles to support employee careeradvancement.

Trainee system
We actively dispatch trainees both internally and externally,
offering practical on-the-job training in specialized sections
for a certain period to support the acquisition of practicalknowledge and skills.

Seconded to a major tax accounting firm
Basic Policy for Human Resource Development
The Keiyo Bank Group views its personnel as valuable assets essential for enhancing corporate value, and we havebeen committed to developing employees who can provide high added value to our customers and fostering an internal environment where each individual can maximize their potential. We will contribute to the sustainable growth of local
communities and the Group through the growth and active participation of our diverse human resources.

Main trainee dispatch destinations
Internal
External

Loan Division, Asset Appraisal Office, Systems Division, etc.
Banks, consulting companies, investment managementcompanies, etc.

Voices of a seconded
employee

For two years from April 2021, I was involved in the planning and proposing of business succession
and reorganization schemes at the business succession department of a major tax accounting firm
while acquiring knowledge of tax and legal matters. It was a great experience for understanding thebusinesses and management issues of customers from the standpoint of a specialized section. In
addition to the knowledge I have gained, going forward I aim to continuously contribute to thecommunity by valuing forms of problem-solving that only a bank can provide, while earnestly understanding the dreams and thoughts of our customers through dialogue.

Soichiro Asano

Corporate Sales Division,
Assistant Manager

Career challenge system
This is an open recruitment system that allows employees to takeon challenges in their desired careers. Once every six months, allemployees are invited to apply for a specific department assignment or to acquire a challenging qualification, and the system supports the achievement of their desired career through interviews
and other processes.

Hiring and training personnel to promote autonomous growth
Hiring strategy
Hiring of new graduates
While continuing the traditional recruitment of all employees for career-track positions, we introduced job-specific hiringfrom FY2023, with the aim of recruiting a more diverse set of students.

Small and medium-sizedenterprise consultants

Desired employee image

Retail consulting course
Specialized human resources course

Employees who provide various solutions, such as loans and introductions tobusiness partners
Employees who offer the best asset management plans according to each life stage
Specialized human resources proficient in system-related tasks and securities
management.

Mid-career hiring
We actively hire mid-career professionals, especially for roles
demanding advanced skills and expertise, and also promote
them to managerial positions based on their capabilities, roles,
and achievements.

Percentage of mid-career hires in management
positions
As of March 31, 2023

26.5%

15

23

Securities analysts

11

FP 1st-grade(including CFP)122

In October 2022, we introduced an internal side job system where, while continuing current tasks, employees canparticipate in projects and tasks of other departments on a per-project basis. This system expands the horizons andpotentials of users, leading to improvements in skills and motivation, and with a wide range of expertise gathered, theproject is expected to become more effective. In addition, the system provides a valuable opportunity to discover human resources, as users’ desires and characteristics are shared again and utilized in their subsequent career paths.

Digital human resource development based on the POLESTAR Plan
By dividing the employees into four categories, while aiming to have approximately 10% of all bank employees have IT
and systems knowledge and experience, we will provide literacy education for base human resources.

Mid-career training

・One-on-one guidance
・New employee training
・Operation-specific basic and intermediate training
・Regional revitalization hands-on inspection training

・Operation-specific applied and enhancement training
・Operation-specific executive personnel training
・Trainee system
・Career challenge system

Management employees

Veteran employees
・Career and life plan training

Headquarters

Young employees

Entire bank

To promptly develop human resources capable of addressing the diversifying and increasingly sophisticated needs ofour customers, we clarify skills and experiences to be acquired by each level and strengthen our training by implementing and coordinating on-the-job training and other courses based on this clarification.

・Women’s leadership training

Labor and social
security attorney

Internal side job system

Level-based training measures

・Seminar for managers

19

Strengthening
three skills(1) Business design(2) Data science(3) Technology

High-skilledhumanresources
Core humanresources
Digital humanresources

Literacy
education

Base humanresources uman resources with advanced external qualifications who plan and implement
H
DX strategies● Human resources with advanced external qualifications leading engineers anddriving technology adoption
●

10
50
140
1,000

(approximately 50% ofbank employees)●

 uman resources educated in technology and design with certain practical workH
experience who will drive digital strategy

 uman resources engaged in IT and system work (including past experiences)H
utilizing their knowledge and experience in their work
● Acquisition of information security management, etc.
●●

Approximately 10%of all bank employees

Comprehensive consulting course

11

FY2022Major challenging qualification acquired (as of March 31, 2023)

DX human resources

Name of course

Number of career challenge hires uman resources with basic knowledge of DX (acquired Information Technology
H(IT) Passport) (552 IT Passport holders as of March 31, 2023)

16

Sustainability Initiatives
Based on the Keiyo Bank Group Sustainability Policy, the Keiyo Bank Group is committed to addressing issues involved in sustainability as we aim to both realize a sustainable society and enhance Group corporate value.

Priority items

Sustainability policy
Through the fulfillment of our financial intermediary function and by offering high-quality, customer-oriented services, the Keiyo Bank Groupwill work to resolve various social issues, including environmental problems such as climate change, and to create a virtuous cycle ofregional economic development and increased
Group corporate value, thereby contributing to
the realization of a sustainable society.

Code of
Conduct

Policy on Initiatives

Priority Items

Code of Conduct

SDGs Declaration

Environmental Policy

1. Local economy/community

Human Rights Policy

2. Diversity & inclusion

Investment & Lending Policies

3. Environmental conservation

Local economy/
community

Diversity &inclusion

In order to maintain the unwavering trust of society, we have established the following Code of Conduct, withwhich all executives and employees are to comply.
Trust & Credibility

Harmony & Cooperation

Fairness & Transparency

Growth & Challenge

Autonomy & Co-creation

Environmental
PolicyAs a member of the local community, we recognize that protecting the rich natural environment of the region is oneof the most important aspects of management. We therefore aspire to achieve a low-carbon, recycling-oriented
society by reducing the environmental impact of our corporate activities as we support our customers in theirenvironmental conservation efforts.

Human Rights
PolicyAs a company trusted by society, we recognize that fostering a corporate culture of respect for the fundamental
human rights of all stakeholders is one of the most important aspects of management. We will therefore contributeto the creation of a society in which individual diversity is respected and each person can be fulfilled in work andlifestyle, playing an active part in their own way.
As a regional financial institution, we recognize that addressing environmental, social, and economic issues is one

Investment &of the most important aspects of management. We will therefore contribute to the realization of a sustainable soLending Policies ciety by helping our customers and communities solve their problems through responsible investment and lending
operations.

Sustainability promotion system
With the aim of strengthening our initiatives toward sustainability, and to establish management strategies
from a medium- to long-term perspective and enhance
effectiveness for each measure, we have established a
Sustainability Committee, which is chaired by the President. The Committee is held twice a year in principle,
and deliberates matters related to sustainability, including measures to address climate change, and reports
to the Board of Directors. At the same time, we haveestablished the Sustainability Study Subcommittee asa subordinate organization to examine specific measures to address sustainability issues on a cross-organizational basis.

17

SDGs initiatives

Board of Directors

Sustainability Committee

Sustainability Study Subcommittee

Environmental
conservation

Main goals to be addressed

We will contribute to the development of local economies by helping to resolve issues
faced by our customers and their communities.

We will help build a society in which individual diversity is respected and each person
can be fulfilled in work and lifestyle, playing an active part in their own way.

We are committed to reducing the environmental impact of society as a whole, andto environmental conservation, as we aim to realize a low-carbon, recycling-oriented
society.

Advancing SDGs in collaboration with Chiba Prefecture
In order to actively address the SDGs and support the SDGs initiatives of local companies, the Bank has joined the
Chiba SDGs Promotion Network consisting of 12 organizations and companies including the Bank.

Receipt of the 2nd “Regional Revitalization SDGs Finance Award”
In February 2023, we received the 2nd “Regional Revitalization SDGs Finance Award” from the Cabinet Officein recognition of our public-private partnership-based
regional revitalization initiative that utilizes the “Chiba
SDGs Promotion Network”.
By building a framework designed to bring Chiba Prefecture’s business community together in order to raiseawareness of the “Chiba SDGs Partner Registration
System*”, 1,846 organizations joined the program (asof June 15, 2023), which contributed to expand thebase of companies working on SDGs initiatives.

Pictured: Mr. Okada, Cabinet Office Minister for Special Missions withthe “Chiba SDGs Promotion Network” award recipients.

*A system established by Chiba Prefecture in November 2021 as a way
to build momentum for the promotion of SDGs among companies
within the prefecture and support concrete initiatives

Headquarters, Sales Department, Affiliated Companies

18Environmental Conservation Initiatives
Initiatives to address climate change risk

Selection of key sectors and qualitative evaluation
We have selected key sectors for carbon-related assets based on the potential impact of industries that are consideredsensitive to climate change and their share of the Bank’s portfolio, and we are conducting a qualitative scenario analysis for these sectors.

As part of our commitment to environmental conservation, which is one ofthe priority items in the Keiyo Bank Group SDGs Declaration, we announced our endorsement of the TCFD Recommendations in December
2021, and we will actively disclose information regarding the impacts ofclimate change on the Bank’s operations.

<Selection of key sectors>

Governance● In order to both achieve a sustainable society and enhance the Bank’s corporate value, we have formulated the Keiyo

Bank Group Sustainability Policy, which outlines our basic approach to sustainability.
● W ith the aim of strengthening our initiatives toward sustainability, and to establish management strategies from a

medium- to long-term perspective and enhance effectiveness for each measure, we have established a Sustainability
Committee, which is chaired by the President. The Committee is held twice a year in principle, and deliberates matters related to sustainability, including measures to address climate change, and reports to the Board of Directors.

Carbon-related assets

Climate change impact

Portfolio size

Results

EnergyReal estate andconstruction
Automobiles andtransportation
Materials

High

Small

Selected as a key sector

Low

Large

Selected as a key sector

MediumSmall

Not selected

High

Small

Not selected*

Agriculture and foodMediumSmall

Not selected

Pulp, paper, andforest products

MediumSmall

Not selected*Not selected, as many industries are classified as materials and their individual risk characteristics differ<Qualitative evaluation of key sectors>
Strategy
EnergyIdentification of climate change-related risks and opportunities
We conduct qualitative analyses on the risks (transition risks and physical risks) and opportunities associated with climate change across short-term (three years), medium-term (10 years), and long-term (30 years) timeframes.
Summary
customers as a result of stricter regulations on GHG emissions or the introduction of carbon taxes● Risk of the customers’ businesses becoming stranded assets due to technological advancements

ing or inadequate information disclosure, which may worsen the environment for fund procurement

Medium tolong termsuch as typhoons and floods, or chronic climatic changes such as increased precipitation, causing
deterioration in customers’ financial performance or damage to collateral●
Risk of inability to continue business or increased costs for business continuity measures andrestoration

Short tolong term

Short tolong term

services)● Expansion of sustainable finance transactions, including renewable energy-related financing● Increase in financial support for infrastructure investments prepared for extreme weather disasters

Short tolong term

and capital investments to mitigate damages● I ncreased damage from river floods due to intensificationof abnormal weather

Scenario

Possible major trends

Impact on risk

1.5°C scenario

A scenario in which drastic climate change responses and measures are implemented to limit the global average temperature rise in 2100 to less than 1.5°C
compared to pre-industrial levels

Increased transition
risks expected

4°C scenario

A scenario in which the global average temperature in 2100 rises 2.7°C to 5.4°C
compared to pre-industrial levels, on the precondition that carbon dioxide emissions from dependence on fossil fuels, etc. continue as before

Increased physicalrisks expectedTransition risks were analyzed for the energy sector, one of the key sectors, which is considered to have a high impact
on the Bank’s credit risk, taking into account the introduction of a carbon tax, changes in future demand, and changes
in the power supply mix. For the analysis, we referenced scenarios such as the International Energy Agency’s (IEA) NZE
scenario (1.5°C scenario).
Scope of analysis

Status of carbon-related assets
The energy*1, real estate and construction, automobiles and transportation, materials, agriculture and food, and pulp,
paper, and forest products sectors, which are deemed vulnerable to climate-related financial impacts in the TCFD
Recommendations, are designated as carbon-related assets*2. As of the end of March 2023, the proportion of carbon-related assets in the Bank’s total credit balance is 23.5%.
*1 Excluding water utility companies and renewable energy power producers.
*2 The scope of carbon-related assets have been redefined to the above six sectors from the “Energy” sector as in the Keiyo Bank Annual Report 2022.

Scenario assumptions

EnergyEstimated the impact on the Bank’s credit risk based on additional costs incurred by borrowers as a resultof the carbon tax introduction, changes in consumer demand, and the future decarbonization responses ofborrowers

Scenario used

IEA Net-Zero Emissions by 2050 scenario (1.5°C scenario)

Analysis period

Until 2050

Risk indicator

Credit-related expenses, which are expected to increase

Results of analysis

19

of abnormal weather● Increase in construction costs to enhance competitiveness[Transition risks]● Increase in demand for climate change-related businesses (consulting, provision of products andOpportunities● I ncreased damage from river floods due to intensificationenergy● Introduction of carbon tax●S hift in demand towards buildings withhigher environmental performance

Based on the results of the qualitative evaluation of key sectors, we estimated the increase in credit costs for the Bank
using multiple temperature scenarios concerning transition risks and physical risks.

● Risk that the Bank’s credit costs may increase due to the intensification of acute natural disasters

Physical risks●D ecrease in prices of raw materials derived from fossil fuels●A cceleration in the adoption of renewable

Scenario analysis

associated with the transition to a decarbonized society● Risks such as the Bank’s reputation deteriorating due to insufficient efforts to combat global warm-●D ecline in demand for fossil fuel derived electricity● Strengthening of GHG emission regulations

Timeframe● Risk that the Bank’s credit costs may increase due to a deterioration in the financial performance ofTransition
risks

Real estate andconstruction● Introduction of carbon tax

Cumulative increase in credit costs by 2050 is approximately JPY1.2 billion(A conservative estimate considering only the impact of carbon tax introduction is JPY1.9 billion)

20

Transitioning the Chibaminato Headquarters to renewable energy[Physical risks]
Physical risks do not only depend on the characteristics of the sectors our borrowers belong to, but also on the locations of the companies and the Bank’s collateral properties. As such, the scope of our analysis targeted regions, covering both corporations as a whole and individuals (housing and apartment loans). For the analysis, we utilized hazard
maps for estimating risks based on the Intergovernmental Panel on Climate Change (IPCC) RCP2.6 scenario (2°C
scenario) and RCP8.5 scenario (4°C scenario).
Subject ofanalysis
Scenario
assumptions
Scenarios used
Analysis period
Risk indicator
Results ofanalysisFloods: All corporations and individuals (housing and apartment loans) in six cities*1 in the Edogawa River basin in the prefecture
Storm surges: All corporations and individuals (housing and apartment loans) in 10 cities*2 in the Tokyo Bay area of theprefecture
Estimated the impact on credit risk based on the frequency and increasing damage from water disasters due to acuterisk manifestation using hazard maps, and the impact on the Bank’s collateral properties and the financial performance of the borrowers
IPCC RCP2.6 (2°C scenario) and IPCC RCP8.5 (4°C scenario)
Until 2050
Credit-related expenses, which are expected to increase
The increase in credit costs by 2050 is estimated to be up to JPY1.3 billion in the 2°C scenario and up to JPY1.7
billion in the 4°C scenario*1 Urayasu City, Ichikawa City, Funabashi City, Matsudo City, Nagareyama City, Noda City
*2 Urayasu City, Ichikawa City, Funabashi City, Narashino City, Chiba City, Ichihara City, Sodegaura City, Kisarazu City, Kimitsu City, Futtsu City

Risk Management● We have established an Investment and Lending Policy for Achieving a Sustainable Society for investments and loans
in which funds are to be used in ways likely to make a difference for the environment, society, and the economy.
Indexes and Targets
We have set targets for reducing CO2 emissions and for making ESG-related investments and loans.
CO2 emissions reduction target (Scope 1 and Scope 2)

ESG-related investment & loan implementation target*

A 50% reduction from fiscal 2013 levels by fiscal
2030, aiming for carbon neutrality by fiscal 2050

Implementation target from fiscal 2021 to fiscal
2030: JPY700 billion
Amount of ESG investments and loans implemented

Trends in CO2 emissions(cumulative total since fiscal 2021)■ Scope 2(t)

10,042
8,067

8,314
8,566
7,114

7,007

6,748

Chibaminato Headquarters

Environmental conservation initiatives through our core businessWe are promoting local decarbonization by offering various sustainable finance and environment-related products.
Corporate customers
α Sustainability Linked Loansα Green Loansα Social Loans

SDGs Loans

SDGs Donation-Type Private Placement Bonds, etc.

700.0

SDGs-related investment trusts

Customer-participation type environment protection projects*, etc.

*Donations via usage of Pay-easy receipt services

Investment in Japan Green Investment Corp. for Carbon Neutrality (JICN)
In October 2022, the Bank made an investment in the Japan Green Investment Corp. for Carbon Neutrality in supportof the company’s objective of encouraging the initiatives of private businesses that are enthusiastic about decarbonization. The Japan Green Investment Corp. for Carbon Neutrality is a company conducting fund business based onnational fiscal investment and loan program (industrial investment) and private-sector capital. It aims to serve as acatalyst for redirecting large amounts of private ESG funds to decarbonization investments by providing equity, mezzanine, and other risk money utilizing its share capital to projects that contribute to decarbonization.

Chiba University × Keiyo Bank eco project
Since fiscal 2017, the Chiba University Environment Committee and the Keiyo Bank have been jointly implementing sevenenvironmental contribution projects based on student ideas*1 for the people of Chiba Prefecture. The aim is to contributeto reducing local environmental impact and raising environmental awareness toward the achievement of the SDGs.
*1 Proposals for projects to raise awareness of the SDGs and the environment. (1) Considering SDGs with Chiba University Students, (2) Children’s SDGs World, (3) Thousand Products to Consume Fair: Let’s Eat and Be Eco-Friendly in Chiba, (4) Chiba SDGs Action, (5) Film Festival
Chiba, (6) SDGs Communication Bureau, (7) Keiyo Bank SDGs Eco Challenge.

Key projects of FY2022

61.4
51.0

1,476

1,200

1,307

1,307

2013

2016

2020

2021

2022 (FY)

Category 6: Business travel

Environmentally-Friendly Type Housing Loans

147.9

6,552

Our Group’s CO2 emissions peaked in fiscal 2016, when the Chibaminato Headquarters was completed, and have been decreasing since then.

110 t

Category 7: Employee commuting 1,329 t

For fiscal 2022, we disclose the above two categories out of a total of 15
categories.
We will continue gathering information for enhanced disclosure, going forward.

21(Unit: JPY1 billion)

8,055

1,060

Scope 3

■ Environmental andrenewable energy sectors■ Other

193.5

5,245

(calculated only for the Keiyo Bankon a non-consolidated basis)*1. Non-fossil certificates that allow trading in FIT-eligible renewable energy sources, such as solar, wind,and hydro-power.
*2. One cedar tree absorbs approximately 14 kg of CO2 per year (Source: Ministry of the Environment/
Forestry Agency)

Retail customers● Recognizing that transition risks and physical risks due to climate change can affect the Bank’s business activities
and financial status, the Bank will establish a system to assess and analyze the impact of these risks, and manage
the risks within the existing framework, including integrated risk management.

■ Scope 1

In reducing CO2 emissions, the Chibaminato Headquarters uses renewable energy sources for all electricity consumed, which are granted FIT non-fossil certificates*1 tracked by TEPCO Energy Partner, Inc. This is expected to reduce CO2
emissions by approximately 1,400 tons per year (approximately 20% of theGroup’s total electricity consumption in fiscal 2022), which is equivalent to theCO2 absorbed by approximately 100,000 cedar trees in one year*2.

2021

10.4

45.6

2022

2030 (FY)(Target)*Investments and loans that contribute to ESG, including investments
and loans in the environmental and renewable energy sectors and in
the medical and nursing care sectors

SDGs Seminar with Chiba University Students

Chiba’s Bazaar - Eco-friendly “ties” connected by second-hand clothes -After students presented on
SDGs initiatives and environmental measures to successor students*2, participants
exchanged views on SDGs
with each other.

Clothes collected from students and theBank’s employees were sold to local
residents for JYP50 per garment to encourage people to think about ecology
in their daily lives, and all proceeds were
donated to Chiba University Hospital.

*2 Participants of “α Bank’s Successor Training,” a program designed to support smooth business succession at client companies

22

Board of Directors, Audit & Supervisory Board Members
and Executive Officers(as of June 30, 2023)

Directors

Audit & Supervisory Board Members
May 1981 Joined the Bank
June 2008 General Manager of First Loan Division
June 2010 Director, General Manager of First Loan Division
June 2011	Director, General Manager of Management Division &Office Manager of Management Center
June 2013 Managing Director
June 2016 Senior Executive Managing Director,
		 Senior Managing Executive Officer
June 2018 Vice President (to present)

May 1981 Joined the Bank
June 2008 General Manager of Corporate Planning Division
June 2009	Director, General Manager of Corporate Planning		Division
June 2012	Managing Director, General Manager of Corporate
Planning Division
June 2014 Senior Executive Managing Director
June 2016 President (to present)

President(Representative Director)

Vice President(Representative Director)

Toshiyuki Kumagai

Kiyoshi Hashimoto

Director, Senior Managing
Executive Officer

Director, Managing
Executive Officer

Satoru Akiyama

Tatsushi Ichikawa
May 1986 Joined the Bank
June 2015 General Manager of Corporate Planning Division
June 2016 Executive Officer, General Manager of General		 Affairs Division
June 2019 Managing Executive Officer
June 2020 Director, Managing Executive Officer (to present)

Director, Managing
Executive Officer

Kazuo Fujisaki

Hiromi Kosaka

Director (Outside Director)

Katsusada Akiyama

Director (Outside Director)

Tomoko Tobe

23

Standing Audit & Supervisory
Board Member

Kazuhiro Hieda

Shinichi Oike

Outside Audit & Supervisory
Board Member

Isao Ono
May 1988 Joined the Bank
Apr. 2018 General Manager of Retail Business Division
June 2018 Executive Officer, General Manager of Personnel
		Department
June 2020 Managing Executive Officer
June 2022 Director, Managing Executive Officer (to present)

Director, Managing
Executive Officer

Director (Outside Director)

Hiroshi Uchimura

Apr. 1980 Joined Chiba Prefectural Government
Apr. 2013 Director General of Economic Policy Division,
		 Commerce, Industry and Labor Department
Apr. 2014 Deputy Executive Director of Commerce,		 Industry and Labor Department
Apr. 2015 Executive Director for Community Safety and		 Harmful Wildlife
Apr. 2016 Secretary General of Labor Relations Commission
Apr. 2017 Secretary General of Chiba Chapter,
		 Japanese Red Cross Society
June 2020 Outside Director of the Bank (to present)

Director (Outside Director)

Kyoichiro Uenishi

Apr. 1974 Joined Ministry of FinanceJuly 1993 Director of Research Division, International Finance
		Bureau
July 1999 Director of General Affairs Division, Commissioner’s		 Secretariat, Financial Supervisory Agency
July 2000 Director-General of Tokai Local Finance Bureau,
		 Ministry of FinanceJuly 2001 Director-General of Kinki Local Finance Bureau,
		 Ministry of FinanceJuly 2004 Director-General of Kanto Local Finance Bureau
Sept. 2005 Director-General for Policy Planning, Ministry of		 Land, Infrastructure, Transport and Tourism
July 2006 Deputy Chairman and Managing Director of the		 Second Association of Regional Banks
June 2016 Outside Director of the Bank (to present)
Apr. 1980 Joined Oriental Land Co., Ltd.
May 2001 Secretary of the General Affairs Department
May 2003 General Manager of General Affairs Department
June 2003 Director and General Manager of General Affairs Department
May 2005 Director, Officer and General Manager of General Affairs Department
Apr. 2006 Director and Officer
Apr. 2008 Director, Officer and General Manager of Corporate Strategy
		 Planning Department
Apr. 2009 Representative Director, President and COO and President Officer
June 2009 External Audit & Supervisory Board Member of Keisei Electric		 Railway Co., Ltd.
Apr. 2013 Representative Director, President and COO and President
		 Officer, General Manager of Corporate
		 Strategy Planning Division, General Manager of Theme Park
		 Business Unit of Oriental Land Co., Ltd.
Oct. 2013 Representative Director, President and COO and President Officer,
		 General Manager of Corporate Strategy Planning Division
Apr. 2014 Representative Director, President and COO and President Officer
June 2021 Special Advisor (to present)
Apr. 2022 Outside Director (Audit & Supervisory Committee Member)		 of Mizuho Bank, Ltd. (to present)
June 2022 Outside Director of the Bank (to present)

May 1987 Joined the Bank
June 2018 General Manager of Auditing Division
June 2022 Audit & Supervisory Board Member (to present)

Standing Audit & Supervisory
Board Member

May 1987 Joined the Bank
June 2014 General Manager of Retail Loan Division
June 2016 Executive Officer, General Manager of Corporate
		 Planning Division
June 2018 Managing Executive Officer
June 2019 Director, Managing Executive Officer (to present)

May 1986 Joined the Bank
June 2013 General Manager of Kashiwa Branch
June 2015 Director, General Manager of Funabashi Branch
June 2016	Executive Officer, General Manager of Funabashi		Branch
June 2017 Managing Executive Officer
June 2018 Director, Managing Executive Officer
June 2020	Director, Senior Managing Executive Officer		 (to present)

Apr. 1974 Joined the Bank of Japan
July 1981 Secretariat Office
July 1983 Assistant to London Representative Councillor
May 1992	Head, Policy Public Relations Division, Monetary
Affairs Department
Oct. 1994 Head, Coordination Division, Monetary Affairs Department
July 1997 General Manager, Shimonoseki Branch
Sept. 1998 Examiner, Examination Department
May 2000 Director-General, Currency Issue Department
May 2003 Director-General, Secretariat of the Policy Board
Sept. 2005 Standing Director of the Second Association of		 Regional Banks
June 2015 Outside Corporate Auditor of Sanyo Engineering
		 & Construction Inc.
June 2015 Outside Director of the Bank (to present)

May 1984 Joined the Bank
June 2018 General Manager of Risk Management Division
June 2020 Audit & Supervisory Board Member (to present)

Apr. 1968 Joined Hitachi, Ltd.
Jan. 2000 General Manager of Finance and Distribution System Group, CEO
June 2002 Senior Managing Director, General Manager of Information
		 & Telecommunications System Business and CEO
Apr. 2004 Representative Executive Officer, Executive Vice President and		 Executive Officer
Apr. 2006 Special Advisor
June 2006 Representative Executive Officer, President and CEO of Hitachi
		 Software Engineering Co., Ltd. (now Hitachi Solutions, Ltd.)
June 2006 Outside Audit & Supervisory Board Member of the Bank
Apr. 2010 Chairman of the Board of Hitachi Software Engineering Co., Ltd.
June 2010 Director of Hitachi, Ltd.
Oct. 2010 Director, Chairman of the Board of Hitachi Solutions, Ltd.
Apr. 2012 Chairman Emeritus of Hitachi Solutions, Ltd.
Apr. 2014 Honorary Chairman Emeritus of Hitachi Solutions, Ltd. (to present)
June 2014 Outside Audit & Supervisory Board Member of NSD Co., Ltd.
June 2014 Outside Audit & Supervisory Board Member of the Bank (to present)

Outside Audit & Supervisory
Board Member

Tsutomu Hanada

Apr. 1966 Joined Keisei Electric Railway Co., Ltd.
July 1993 General Manager of Transportation Department,
		 Railway Headquarters
June 1998 Director, Deputy General Manager of Railway Headquarters
June 2000 Managing Director
June 2002 Outside Director of Shin-Keisei Electric Railway Co., Ltd.
June 2002 Representative Director, Senior Managing Director of
		 Keisei Electric Railway Co., Ltd.
June 2004 Representative Director and President
June 2005 External Director of Oriental Land Co., Ltd. (to present)
June 2011 Representative Director and Chairman of the Board of
		 Keisei Electric Railway Co., Ltd.
June 2015 Adviser (to present)
June 2018 Outside Audit & Supervisory Board Member of the Bank		
(to present)

Sept. 1969 Joined Miyasaka Certified Accountant Office
Apr. 1970 Joined Daiichi Audit Firm
		 (now Ernst & Young ShinNihon LLC)
Apr. 1973 Registered as Certified Public Accountant
Jan. 1988 Partner of Century Audit Corporation
		 (now Ernst & Young ShinNihon LLC)
July 2011 Established Iwahara Certified Accountant Office (to present)
June 2020 Outside Audit & Supervisory Board Member of the Bank		
(to present)

Outside Audit & Supervisory
Board Member

Jun-ichi Iwahara

Executive Officers
Managing Executive Officer

Managing Executive Officer

Managing Executive Officer

Tomoyuki Kunii

Go Fujita

Shiro Yamazaki

Executive Officer

Executive Officer

Executive Officer

Executive Officer

Minoru Yoshida

Yasuhiko Suba

Hideaki Ushikawa

Satoko Watanabe

Executive Officer

Executive Officer

Executive Officer

Executive Officer

Seiichiro Matsuki

Takashi Kitami

Takao Miyama

Akira Sasagawa

Executive Officer

Executive Officer

Satoru Tanaka

Akihiro Fukuda

24

Corporate Governance
Basic approach for corporate governance

Board of Directors

In accordance with the principles of the Corporate Governance Code stipulated by the Tokyo Stock Exchange to ensurethat corporate governance functions effectively, the Bank is focused on strengthening our corporate governance structure, and based on a high level of compliance awareness, we strive for transparent, fair, efficient, and sound management to strengthen the trust from our customers, local communities, shareholders, employees, and all stakeholders.
We aim to achieve sustainable growth and improve medium- to long-term corporate value by further enhancing ourcorporate governance and risk management systems.

The Board of Directors is composed of 10 members, including 4 highly independent Outside Directors,
and pursuant to the Company’s articles of incorporation, President Toshiyuki Kumagai serves as thechair. In principle, a regular meeting of the Board of Directors is held once a month, and other meetings
are convened as needed to make important decisions and report on the status of business execution.

Management strategies and business plans● Progress of the Medium-term Business Plan

Accounting and finance● Financial disclosures

The Bank has adopted an Audit & Supervisory Board Members system. Out of the five Audit & Supervisory Board Members, three, which is a majority, are Outside Audit & Supervisory Board Members, and we believe this ensures the transparency and effectiveness of audits and sufficiently fulfills the management oversight functions. In addition, with the aimof strengthening the accurate and swift decision-making and oversight functions of the Board of Directors, we haveappointed four Outside Directors, which is more than one-third of the total, to enhance our governance structure.

11[Main deliberation items]● Operation policies

Overview of corporate governance structure

Number of times held
in FY2022

Auditing● Audit policies and audit plans

Risk management and compliance● Examination of strategic shareholdings● Integrated risk management● Compliance program formulation

Personnel● Selection of Directors with specific titles and Executive Officers

Support system for Outside Directors
The Company has a system in place to provide advance explanations of Board of Directors meeting proposals andvarious types of information in a timely manner to support the execution of duties by Outside Directors.
Evaluation of the effectiveness of the Board of Directors

Organizational structure

Board of Directors

Audit & Supervisory Board

Nomination and Compensation
Advisory Committee

Audit & Supervisory
Board Members
5

Directors
5

Company with an Audit &Supervisory Board
Officer compensation structure

Directors[Directors excluding Outside Directors]
10● Base compensation● Bonuses● Performance-linked stockcompensation[Outside Directors and Outside Audit &■ Independent Outside Directors
Supervisory Board Members]
4 (including 1 woman)● Fixed compensation■ Independent Audit &Supervisory Board Members
3■ Independent Outside Directors
4

Audit & Supervisory Board

Diagram of corporate governance structure
General Meeting of Shareholders
Accounting Auditor
Audit & Supervisory Board Members andAudit & Supervisory Board
Consultation and reporting

Board of Directors

Auditing

Nomination and Compensation
Advisory Committee

25

The Audit & Supervisory Board consists of five members, including three Outside Audit & Supervisory Board Members, and the chairman is chosen by mutual election. The Audit & Supervisory Board
is held in principle once a month, ensuring an effective monitoring function for the decision-making
and business execution by Directors, and we are striving to strengthen the audit system.
The Audit & Supervisory Board, in addition to reporting on the performance of duties by the Standing
Audit & Supervisory Board Members, deliberates on matters such as the audit policies and plans,
the establishment and operational status of the internal control system, the appropriateness of theaudit methods and results of the Accounting Auditor, matters concerning the appointment anddismissal or non-reappointment of the Accounting Auditor, consent to the audit fees of the Accounting Auditor, and the preparation of audit reports.

Number of times held
in FY2022
12

Activities of Audit & Supervisory Board Members

Management Conference
Various committees

We conducted a questionnaire survey on the overall effectiveness of the Board of Directors for each Director and Audit & Supervisory
Board Member, compiled the results and opinions, and we analyzed and evaluated the overall effectiveness of the Board of Directors
for FY2022 in the Board of Directors meeting held in May 2023. As a result, it was confirmed that the Bank’s Board of Directors
operates appropriately and its effectiveness is adequately secured. The Outside Directors and Audit & Supervisory Board Members
who are members of the Board of Directors have diverse perspectives and multifaceted views, and are well-balanced in knowledge,
experience, and capabilities to effectively fulfill the roles and responsibilities of the Board of Directors. The Board of Directors periodically discusses medium- to long-term business strategies, and through timely and appropriate selection of agenda items andenhancement of materials, we continuously strive to improve the management of the Board of Directors to invigorate the discussions. Going forward, in the management of the Board of Directors, we will deepen discussions for the next Medium-term Business
Plan, considering environmental changes surrounding the Bank, by enhancing information provision for decision-making and supervisory functions, ensuring deliberation time for medium- to long-term management challenges such as the transition to a decarbonized society and the progress of digitalization, and continue to work towards further effectiveness of the Board of Directors.

Internal audit department

Headquarters business execution
department

Auditing

Sales branches, headquarters,
and affiliated companies

Auditing

The Standing Audit & Supervisory Board Members, based on the audit policies and plans set by the Audit & Supervisory
Board, engage in discussions with the Representative Directors, attend important meetings such as the Board of Directors, Management Conference, Compliance Committee, Risk Management Committee, ALM Committee, and Sustainability Committee and review minutes and other documents thereof, inspect significant approval documents, andvisit sales branches, headquarters, and Group companies.
The Outside Audit & Supervisory Board Members, through attending meetings of the Board of Directors and the Audit& Supervisory Board and exchanging opinions and information with the Standing Audit & Supervisory Board Members,
conduct audits on the appropriateness and validity of the management’s policies and approaches from an independent, neutral standpoint with a fair and objective perspective.
26

Support system for Outside Audit & Supervisory Board Members

Nomination and Compensation Advisory Committee

Assistants to Audit & Supervisory Board Members are assigned to assist Audit & Supervisory Board Members, including Outside Audit & Supervisory Board Members, in their duties. Furthermore, at the Audit & Supervisory Board, we report on the resultsof activities of the Standing Audit & Supervisory Board Members and the state of important business activities, and we also havea system in place to provide explanations in advance, as appropriate, on agenda items for the Board of Directors.

Skill matrix
The expertise of each officer is as follows.

Position

Corporate
management
Organization
management

FinanceFinancial affairs
and accounting

Legal affairs
Riskmanagement

Regional sales
Regional
revitalization

Marketinvestment

IT digital

Toshiyuki Kumagai

President (Representative Director)

○

○

○

○

○

○

Kiyoshi Hashimoto

Vice President (Representative Director)

○

○

○

○

○

○

Satoru Akiyama

Director, Senior Managing Executive Officer

○

○

○

○

Tatsushi Ichikawa

Director, Managing Executive Officer

○

○

○

○

○

○

Kazuo Fujisaki

Director, Managing Executive Officer

○

○

○

Audit & Supervisory Board Member

Director

Name

Director, Managing Executive Officer

○

○

○

○

Outside Director

○

○

○

○

○

○

Hiroshi Uchimura

Outside Director

○

○

○

○

○

○

Tomoko Tobe

Outside Director

○

○

○

○

Kyoichiro Uenishi

Outside Director

○

○

○

○

Kazuhiro Hieda

Standing Audit & Supervisory Board Member

○

○

○

○

Shinichi Oike

Standing Audit & Supervisory Board Member

○

○

○

○

Outside Audit & Supervisory Board Member

○

○

○

Outside Audit & Supervisory Board Member

○

○

○

Jun-ichi Iwahara

Outside Audit & Supervisory Board Member

○

○

○

○

○
○
○

(Note) This does not represent all the knowledge, experience, abilities, etc. held by each Director and Audit & Supervisory Board Member.

Internal audits
The Bank conducts internal auditing through the Auditing Division to enhance the functionality of the Bank’s organization. The Auditing Division, with a structure of 23 members (as of March 31, 2023), audits the compliance and effectiveness of each department’s compliance and risk management with laws, regulations, and internal regulations.
Systems to ensure the effectiveness of internal audits
Reporting to the Board of Directors
The Auditing Division formulates annual audit policies and plans, which are presented to and approved by the Board of
Directors. The Auditing Division reports the summary of the audit results and the improvement status to the Board of
Directors quarterly. Additionally, it submits the audit report to the Directors.
Reporting to the Audit & Supervisory Board
The Auditing Division submits the audit report to the Audit & Supervisory Board Members. The Auditing Division also
has regular meetings with Audit & Supervisory Board Members to exchange opinions. The Audit & Supervisory Board
has a system in place to request reports from the Auditing Division as needed.

Accounting audits
The name of the certified public accountants who performed the work and the name of the audit firm they belong to are as follows.
Name of certified public accountants

Engagement Partner

27

Masatoshi Omura
Kazuhiko Kubosawa

3

A ppointment and dismissal of Directors and Audit & Supervisory Board Members(items resolved at the General Meeting of Shareholders)Bonus amounts and performance-linked stock compensation points for Directors
and Executive Officers

 ew structure for Directors and Executive Officers
N
Compensation amounts for Directors and Executive Officers○

Hiromi Kosaka

Isao Ono

Number of times held
in FY2022[Main deliberation items]

Katsusada Akiyama

Tsutomu Hanada

The Nomination and Compensation Advisory Committee has been established as an advisory body to
the Board of Directors, aiming to ensure fairness, transparency, and objectivity regarding the nomination and compensation of Directors and Audit & Supervisory Board Members. The majority of thecommittee members shall be Outside Directors, and the committee is made up of the President andfour Outside Directors, with the chairman being elected by mutual election. In this committee, members deliberate on the appointment and dismissal of Directors and Audit & Supervisory Board Members, the selection and dismissal of Representative Directors, the maximum compensation amount for
Directors and Audit & Supervisory Board Members, the basic policy on officer compensation, the Director Compensation Regulations, the compensation of each Director, and other important management matters deemed necessary by the chairman, and report to the Board of Directors.

Name of affiliated auditing firm

Ernst & Young ShinNihon LLC

Management Conference
A Management Conference, comprised of Directors and Executive Officers nominated by the
Representative Director, has been established as a subordinate body of the Board of Directors
to support its efficient operation. In the Management Conference, discussions on items to besubmitted to the Board of Directors and decisions on important matters stipulated in internal
regulations are made, clarifying the division of roles between management and business execution, ensuring that Directors and Executive Officers each take responsibility for their tasks.

Number of times held
in FY2022
24

Nomination guidelines and procedures for Directors andAudit & Supervisory Board Members
Guidelines for appointment, dismissal, and nomination● For the Representative Director, we nominate individuals with the knowledge, experience, and sufficient social credibility to manage the Bank accurately, fairly, and efficiently, and who are able to represent the Bank and fulfill theirduties and responsibilities appropriately.
● In the event of misconduct or serious legal violations by the Representative Director, they may be dismissed.
● For Internal Director candidates, we nominate individuals with the knowledge, experience, and sufficient social credibility to manage the Bank accurately, fairly, and efficiently.
● For Outside Director candidates, we nominate individuals with extensive knowledge and experience who can contribute to the sustainable growth of the Bank and the improvement of its medium- to long-term corporate value.
● For Audit & Supervisory Board Member candidates, we nominate individuals with the knowledge, experience, andsufficient social credibility to audit the execution of the Bank’s Directors’ duties accurately, fairly, and efficiently.

Procedures for appointment, dismissal, and nomination
We have established the Nomination and Compensation Advisory Committee as an advisory body to the Board of
Directors.
● The selection and dismissal of the Representative Director is decided by the Board of Directors after deliberation by
the Nomination and Compensation Advisory Committee.
● Director candidates are recommended to the Board of Directors after deliberation by the Nomination and Compensation Advisory Committee, and appointed by the Board of Directors.
● Audit & Supervisory Board Member candidates are recommended to the Board of Auditors after deliberation by the
Nomination and Compensation Advisory Committee, and they are appointed by the Board of Directors after obtaining the consent of the Audit & Supervisory Board.
28

Corporate Data
Officer compensation system

Overview of the Keiyo Bank

The Bank has established the following decision-making policy regarding the contents of compensation for Directors
and others on an individual basis.

Name

The Keiyo Bank, Ltd.

Date of foundation

March 31, 1943
11-11, Fujimi 1-chome, Chuo-ku, Chiba City,
Chiba, Japan
5-45 Chiba-minato, Chuo-ku, Chiba City,
Chiba, Japan

Head office
Chibaminato Headquarters

Composition structure

Shareholders

Outside Directors and Audit & Supervisory Board Members

Non-consolidated 10.88%
Consolidated 10.88%

Business Auditing Group
Auditing Division

Asset Auditing Group
Inspection Group
Corporate Planning Group

General Meetingof Shareholders

Corporate Planning Division

Accounting Group
Public Relations Group

Audit & Supervisory
Board Members
Audit & Supervisory
Board
Board of Directors

Tokyo Office
Risk Management Division
Customer Service Center
Secretarial OfficeNomination andCompensation
Advisory Committee

Personnel Division

Compliance Supervisory Group
Risk Management Group
Legal Affairs OfficeInternal Control OfficeSecretarial Group
Personnel Development Group
Personnel Management Group
General Affairs Group

General Affairs Division

Trustee Group
Social Activities Promotion Office

Management
Conference

Sales Supervisory Division

Sales Supervisory Group
Retail Strategy Group

Sales Planning Division

IT Strategy Group
Channel Strategy Group

Directors excluding Outside Directors● The compensation for Directors excluding Outside Directors, consists of monetary compensation such as basecompensation and bonuses, and non-monetary compensation such as performance-linked stock compensation.
● Base compensation is a fixed monthly payment given according to the responsibilities and roles of each position,and is paid regularly every month during the tenure.
● Bonuses are paid once a year, in principle, to Directors who are in office at the end of the respective fiscal year, taking
into consideration the business performance of that year. Bonuses reflect the rate of increase or decrease in net
income from the previous fiscal year as an indicator to enhance a shareholder-focused management mentality, andthe payment amount is determined by the Board of Directors after deliberation by the Nomination and Compensation Advisory Committee.
● Performance-linked stock compensation aims to explicitly link compensation with the Bank’s performance and stock
value by aligning management strategies with compensation strategies and to motivate Directors to contribute to themedium- to long-term continuous improvement of the Bank’s performance and corporate value. Points are granted
once a year based on the Stock delivery Regulations, and stocks are delivered after retirement. Performance-linked
indicators adopt the earning power of core business, efficiency, soundness, and stock price index, and the stock
delivery points fluctuate based on the achievement level of the Medium-term Business Plan targets. Additionally, incases where a Director has committed a serious violation related to their duties, it is possible to confiscate the stock
delivery points already granted or claim the return of the equivalent amount of shares already granted.
● The compensation structure ratio is roughly 60:20:20 for base compensation, bonuses, and performance-linked
stock compensation, respectively, and the total compensation for each individual is determined by summing up theamounts from the three categories.

Capital adequacy ratio (Based on standards
for a domestically-operating bank)

Organizational Chart

Compensation level● The level of officer compensation is determined based on the Bank’s management environment and research andanalysis of the compensation levels of peers, following the basic compensation policy.

JPY49.7 billion(as of March 31, 2023)

Governance regarding determination of compensation, etc.
● We have established a Nomination and Compensation Advisory Committee, in which Independent Outside Directors constitute a majority, as an advisory body to the Board of Directors. Based on separately defined Nomination
and Compensation Advisory Committee Regulations, the committee deliberates and consults on the following
matters, and the Board of Directors makes decisions taking into account advice and reports from the committee.
● Matters related to the maximum amount of compensation for Directors and Audit & Supervisory Board Members(matters to be resolved at the General Meeting of Shareholders)● Basic policy on officer compensation, Director Compensation Regulations, etc.
● Matters related to the compensation for each Director●	Compensation for each Audit & Supervisory Board Member is determined through consultation among the Audit &Supervisory Board Members.

Share capital

Corporate Sales Group
Corporate Sales Division

Asset Optimization GroupRegional Development Group

Retail Business Division

Loan Division

Retail Business Group

Chiba Loan Plaza

Retail Loan Promotion Group

Kashiwa Loan Plaza

Financial Planning Group

Funabashi Loan Plaza

Examination Group
Corporate Management Support GroupManagement Group

Asset Appraisal Office

Asset Appraisal Group

Fund Securities DivisionMarket Operations Group

Fund Securities GroupInternational Business Group
Administrative Management
Division

Business Planning Group
Office Management Group

Customer●	We have established the following basic policy for officer compensation to support the achievement of the Bank’s
management strategy.
● We aim to invigorate the regional real economy, achieving both profitable growth for the Bank and developmentof the local community.
● We strive to secure and retain outstanding human resources who can function as sound incentives and contributeto the sustainable and stable enhancement of corporate value.
● We ensure that decisions are made through an objective and transparent process to fulfill our accountability to
stakeholders.

JPY5,302.9 billion
JPY4,087.7 billion
JPY6,567.8 billion

Sales branch (Head office Sales Division, branch office, sub-branch office)Basic stance towards officer compensation

Deposits
Loans and bills discounted
Total assets

Debt Documentation Management Group
Systems Development Group

Systems Division

Systems Management Group
Next-generation Systems Development OfficeBusiness Support Group

Digitalization Promotion Division

Direct Business Group
Direct Call Group(as of June 30, 2023)● The compensation for Outside Directors and Audit & Supervisory Board Members, for securing their roles and independence, is fixed, and is paid regularly every month during the tenure.
29

30

Stock information
Business operations

Status of shares

Item

Description
We offer current deposits, ordinary deposits, ordinary deposits for settlement, savings deposits, deposits at
notice, time deposits, separate deposits, tax payment reserve deposits, and foreign currency deposits, etc.

Deposits
Deposit services

Lending business services
Trading account securities
Securities investment services
Domestic exchange services
Foreign exchange services
Bonds and other fiduciary services
Defined contribution pension
plan services

Ancillary business operations

Negotiable certificates
We offer negotiable fixed time deposits.
of deposit
Loans
We offer loans on bills, loans on deeds, and overdrafts.
Bill discounting
We handle discounting of bank acceptance drafts, commercial paper, and documentary drafts.
We are engaged in the trading of government bonds and other public bonds.
We invest in government bonds, municipal bonds, corporate bonds, equities and other securities to provide for the payment ofdeposits and for fund management.
We handle remittance exchange, current account transfers, and payment collections, etc.
We provide various services related to exports, imports, foreign remittances, and various other foreign exchange services.
We engage in operations related to bond fiduciary services, consignment of government bond offerings, and other services.

(1) Acting branch of the Bank of Japan, Revenue agency for the Bank of Japan(2) Public funds handling services for local governments(3) Agency services for the Organization for Workers Retirement Allowance Mutual Aid, etc.
Agency business(4) Agency for receiving payments for shares and payment of stock dividends, as well as principal andoperations
interest on government and corporate bonds(5) Loan services on behalf of the Japan Housing Finance Agency, etc.
(6) Trust agency services(7) Insurance agency services
Secure custody and safe-deposit box services
Lending of securities
Debt guarantee (payment acceptance)
Underwriting of government bonds
Over-the-counter sales of government bonds and other public bonds and investment trusts
Handling of commercial paper, etc.
Financial product brokerage services
Personnel referral business

FY2020

FY2021

395,014 thousand shares

Total number of issued shares

133,927 thousand shares

Number of shareholders at
the end of the fiscal year

Individuals
and others
26.68%

Employees

1,997

1,965

1,911

Average age

38 years, 9 months

39 years, 1 month

39 years, 8 months

Average length of
employment

16 years, 7 months

16 years, 10 months

17 years, 3 months

JPY384,741

JPY392,226

JPY395,851

Average monthly salary

Temporary and casual employees

1,040

978

Financial
institutions
38.89%

Foreigncorporation, etc.
15.72%

Financial
instruments dealers

17,679

1.24%

Other corporations(As of March 31, 2023)

17.44%(As of March 31, 2023)

Major shareholders
Name

Address

Number ofshares held
(thousand shares)

Shareholding ratio(%)

The Master Trust Bank of Japan, Ltd. (Trust Account)

2-11-3, Hamamatsucho, Minato-ku, Tokyo

11,869

9.37

Custody Bank of Japan, Ltd. (Trust Account)

1-8-12, Harumi, Chuo-ku, Tokyo

6,335

5.00

The Chiba Bank, Ltd.

1-2, Chibaminato, Chuo-ku, Chiba City, Chiba

6,106

4.82

Keiyo Bank Employee Shareholding Association

1-11-11, Fujimi, Chuo-ku, Chiba City, Chiba

4,466

3.52

SUMITOMO LIFE INSURANCE COMPANY

2-2-1, Yaesu, Chuo-ku, Tokyo

3,561

2.81

Mitsui Sumitomo Insurance Company, Limited.

3-9, Kanda Surugadai, Chiyoda-ku, Tokyo

3,459

2.73

Sompo Japan Insurance Inc.

1-26-1, Nishi-Shinjuku, Shinjuku-ku, Tokyo

3,378

2.66

Chiba Kenmin Kyosai Cooperative Society

2-3-11, Honcho, Funabashi City, Chiba

3,100

2.44

Meiji Yasuda Life Insurance Company

2-1-1, Marunouchi, Chiyoda-ku, Tokyo

2,969

2.34

Sumitomo Realty & Development Co., Ltd.

2-4-1, Nishi-Shinjuku, Shinjuku-ku, Tokyo

2,509

1.98

(As of March 31, 2023)(Note 1) Number of shares held are displayed rounded down to the nearest thousand.
(Note 2) The shareholding ratio is calculated after deducting treasury shares (7,316 thousand shares) and is shown rounded down to two decimal places. Shares held by the officer
Compensation BIP trust (1,046 thousand shares) are not included in the treasury shares.

FY2022

Stock details

Notes: 1. The average monthly salary is the regular salary in March including tax (including overtime allowance) and does not include bonuses.
2. The number of employees does not include the following temporary and casual employees.

968(As of March 31 of each fiscal year)

Significant subsidiaries, etc.
*1
*2
Ratio of voting rights Ratio of voting rights
held by the Bank held by subsidiaries

Location

Primary business

Date offoundation

SharecapitalKeiyo Bank Capital &Consulting Co., Ltd.

5-45 Chiba-minato,Chuo-ku, Chiba City,
Chiba, Japan

Fund management, M&A andconsulting services

April 1,
2019

JPY50
million100%－

Keiyo Bank Card Co., Ltd.

2-6, Honcho 3-chome,
Chuo-ku, Chiba City,
Chiba, Japan

Credit card services, money
lending and credit guarantee
services, etc.

January 13,
1989

JPY50
million5%

35%

Keiyo Bank Guarantee
Service Co., Ltd.

11-11, Fujimi 1-chome,
Chuo-ku, Chiba City,
Chiba, Japan

Guarantee services for personalloans, mainly mortgage loans, andresearch services for real estate

March 16,
1998

JPY30
million5%

38%*1. The ratio of the Banks’ voting rights is the ratio of the voting rights of the relevant subsidiary held by our Bank to the voting rights of all shareholders.
(as of June 30, 2023)*2. The ratio of subsidiary voting rights is the ratio of the voting rights of the specified subsidiary that are held by subsidiaries other than the specified subsidiary to the voting rights of all shareholders.

31

Total number of sharesauthorized to be issued

As an operation and management institution, we select and present investment products and provide information, etc.

Employees

Company nameBreakdown of share ownership

Fiscal year

From April 1 to March 31 of the following year

Annual General Meeting of
Shareholders

June

Record date for the Annual
General Meeting of
Shareholders

March 31

Record date for dividendsof surplus

Year-end dividend March 31

Number of sharesconstituting one unit

100

Notification method

Electronic public notices will be posted on our website.
(Website address: https://www.keiyobank.co.jp)
However, if electronic public notices cannot be provided, they will be published in the Nihon Keizai Shimbun.

Shareholder Registry
Administrator
Mailing address andcontact point for inquiries

Interim dividend September 30

Head Office, Japan Securities Agents, Ltd.
1-2-4 Nihonbashi Kayabacho, Chuo-ku, Tokyo 168-8620
Agent Division, Japan Securities Agents, Ltd.
2-8-4 Izumi, Suginami-ku, Tokyo,
0120-707-843 (Toll free)
We also accept online requests for a form for special accounts.
Website address https://www.jsa-hp.co.jp/name/index.html (in Japanese only)(Some forms can be printed using your own printer.)32

Financial Data
Consolidated Balance Sheets(Unaudited)
Unit: Thousands of*Note
U.S. dollars

Unit: JPY million
FY2021

FY2022

FY2022¥

1,722,133
1,529
3,406
3,007
1,154,419
3,898,801
11,96342,951
58,122
22,56830,762375
4,416
11,453
2,288
8,996
168
2,147
6,664
2,997
(16,382)
6,903,217¥

1,234,268
3,614
3,129
3,024
1,118,530
4,087,888
9,524
40,39656,992
21,57430,762546
4,110
16,764
2,323
14,272
168
5,150
8,099
3,044
(14,546)
6,575,882$

5,141,976
58,602—462,219
921,100
143
11,565
1,330
70
240
6
284
1
461
1,087
575
4,570
2,997
6,607,233¥

5,298,647
51,000260,000
412,895
235,900
113
8,924
1,351
70
935
5
326
—
291
1,074
651
4,570
3,044
6,279,802$

49,75939,704
183,058(7,315)265,208
18,5767,040(49)
25,567
5,208
295,983
6,903,217¥

49,75939,704
188,967(6,553)271,878
10,327
7,040
1,294
18,662
5,538
296,079
6,575,882$

9,243,376
27,06523,432
22,646
8,376,619
30,614,004
71,324
302,523
426,810
161,566
230,375
4,088
30,779125,544
17,396
106,882
1,258
38,56860,653
22,796(108,934)
49,246,476

Liabilities
Deposits
Negotiable certificates of deposit
Call money and bills soldCash collateral received for securities lent
Borrowed money
Foreign exchanges
Other liabilities
Provision for bonuses
Provision for bonuses for directors (and other officers)
Retirement benefit liability
Provision for retirement benefits for directors (and other officers)
Provision for share awards
Provision for loss on interest repayment
Provision for reimbursement of deposits
Provision for contingent loss
Deferred tax liabilities
Deferred tax liabilities for land revaluation
Acceptances and guarantees
Total liabilities¥

39,681,322
381,936
1,947,127
3,092,151
1,766,644
846
66,831
10,117
524
7,002
37
2,441
—
2,179
8,043
4,875
34,224
22,79647,029,147

Net assets
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Valuation difference on available-for-sale securities
Revaluation reserve for landRemeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

Unit: Thousands of*Note
U.S. dollars

Unit: JPY million
FY2021

FY2022

FY2022¥¥$

Trends in key indexes

AssetsCash and due from banks
Call loans and bills bought
Trading securities
Money held in trust
Securities
Loans and bills discounted
Foreign exchanges
Other assets
Tangible fixed assets
Buildings, net
LandConstruction in progress
Other tangible fixed assets
Intangible fixed assets
Software
Software in progress
Other intangible fixed assets
Retirement benefit asset
Deferred tax assets
Customers’ liabilities for acceptances and guarantees
Allowance for loan losses
Total assets

Summary of Performance Results (consolidated)¥

372,642
297,341
1,415,165(49,075)
2,036,081
77,33852,722
9,690
139,758
41,4732,217,321
49,246,476

Ordinary income
Ordinary profit
Profit attributable to owners of parent
Comprehensive income
Total net assets
Total assets
Capital adequacy ratio (Based on standards for a domestically-operating bank)

65,745
16,21011,1852,513
295,983
6,903,217
11.17%

65,614
15,174
10,3903,820
296,079
6,575,882
10.88%

491,380
113,637
77,81028,6072,217,321
49,246,476—*Note: U.S. dollar amounts are shown solely for the purpose of convenience and calculated at the conversion rate of JPY133.53 to USD1.00, the exchange rate
prevailing on March 31, 2023.

Consolidated Statements of Income andConsolidated Statements of Comprehensive Income(Unaudited)
Unit: Thousands of*Note
U.S. dollars

Unit: JPY million
FY2021

FY2022

FY2022¥¥

65,614
46,62135,156
9,630
65
1,766
1
12,720
537
5,735
2,139
4
3,591
50,439
637
208
1
(58)
486
0
0
4,658
8,544
34,769
1,828
—
1,828
15,174
—
—
—
101
47
53
—
15,073
2,870
1,608
4,479
10,594204
10,390$10,594(6,773)(8,126)
1,352
3,820

$

Consolidated Statement of Income
Ordinary income
Interest income
Interest on loans and discounts
Interest and dividends on securities
Interest on call loans and bills boughtInterest on deposits with banks
Other interest income
Fees and commissions
Other ordinary income
Other income
Reversal of allowance for loan losses
Recoveries of written off receivables
Other
Ordinary expenses
Interest expenses
Interest on deposits
Interest on negotiable certificates of deposit
Interest on call money and bills soldInterest expenses on cash collateral received for securities lentInterest on borrowings and rediscounts
Other interest expenses
Fees and commissions payments
Other ordinary expenses
General and administrative expenses
Other expenses
Provision of allowance for loan losses
Other
Ordinary profit
Extraordinary income
Gain on disposal of non-current assets
Gain on reversal of share acquisition rights
Extraordinary losses
Loss on disposal of non-current assets
Impairment losses
Provision for share awards
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

¥

¥

¥

¥
¥
¥
¥

65,74548,96635,568
11,342
1
2,053
013,552
754
2,472
—
1
2,470
49,535
629
216
2
(40)
451
0
—
4,506
3,844
35,533
5,020
2,770
2,250
16,210
336
18
317
400
178
8
214
16,145
4,323
460
4,783
11,361
176
11,185

¥

¥

¥

¥
¥
¥
¥

$

$

$

$
$
$
$

491,380
349,142
263,281
72,118486
13,225
7
95,2594,021
42,94916,01829
26,892377,735
4,770
1,557
7
(434)
3,639
0
0
34,88363,985
260,383
13,689—13,689113,637
—
—
—
756
351
396
—
112,881
21,493
12,04233,543
79,337
1,527
77,810Consolidated Statements of Comprehensive Income
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans, net of tax
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests¥

11,361(8,847)(8,340)
(507)
2,513
2,245
268

¥

3,485
335

79,337(50,722)(60,855)
10,12528,60726,0992,508*Note: U.S. dollar amounts are shown solely for the purpose of convenience and calculated at the conversion rate of JPY133.53 to USD1.00, the exchange rate
prevailing on March 31, 2023.

33

34

Corporate Planning Division
5-45, Chiba-Minato, Chuo-Ku, Chiba City, Chiba 260-0026, Japan
Phone: +81 43 3062121
URL: https://www.keiyobank.co.jp
SWIFT Code: KEIB JP JT