November 8, 2013

SURUGA Bank LTD.
Consolidated Financial Results for the First Half of the Fiscal Year Ending March 31, 2014
2014
<under Japanese GAAP>
Stock Exchange:
Tokyo (code:8358)
URL:
http://www.surugabank.co.jp
Representative:
President Mitsuyoshi Okano
Date of Payment of 2nd Quarter-End Dividends: December 12, 2013
(Japanese yen amounts of less than one million and the first decimal place have been rounded down.)

1. Consolidated Financial Results (for the six months ended September 30, 2013)(1) Operating Results(Unit: Millions of Yen, except per share data and percentages)
Ordinary Income

Ordinary Profit

Net Income

Six months ended September 30, 2013

58,671

8.5%

22,403

33.4%

13,84635.4%

Six months ended September 30, 2012

54,053

1.7%

16,78619.2%

10,22429.3%(Note1) Comprehensive Income: Six months ended September 30, 2013:\16,900 million (92.0%); Six months ended September 30, 2012:\8,801 million (13.7%)(Note2) Percentages shown in Ordinary Income, Ordinary Profit and Net Income and Comprehensive Income are the increase (decrease) from the same period
pervious year.

Net Income per ShareNet Income per Share(Diluted)

Six months ended September 30, 2013\58.59\58.51

Six months ended September 30, 2012\43.37―(2) Financial Position(Unit: Millions of Yen, except percentages)
Total Assets

Total Net Assets

Own Capital Ratio

September 30, 2013

3,836,195

238,182

6.1%

March 31, 2013

3,769,657

222,450

5.8%(Reference) Own Capital: September 30, 2013: \236,046 million; March 31, 2013: \219,990 million(Note) Own Capital Ratio = (Total Net Assets – Subscription Rights to Shares – Minority Interests) / Total Assets * 100

2. Dividend on Common Stock
Annual Cash Dividends par Share
1st Quarter-End

2nd Quarter-End

3rd Quarter-End

Fiscal Year-End

Fiscal year ended March 31, 2013

―

\6.50

―

\8.50

\15.00Fiscal year ending March 31, 2014

―

\7.50
―

\7.50

\15.00

Total

Fiscal year ending March 31, 2014
(Forecasts)(Note) Revision of forecasts for dividends for quarter in review: No

3. Earnings Forecasts (for the fiscal year ending March 31, 2014)

Fiscal year ending March 31, 2014

Ordinary Income

Ordinary Profit

115,000

38,000

3.3%

4.8%(Unit: Millions of Yen, except per share data)
Net Income per
Net Income
Share
23,1008.7%(Note1) Percentages shown in Ordinary Income, Ordinary Profit and Net Income are the increase (decrease) from the same period pervious year.
(Note2) Revision of earnings forecasts for quarter in review: No\97.66

※Note(1) Changes in the scope of consolidated significant subsidiaries during the six months ended September 30, 2013: No(2) Changes in accounting standards, accounting estimates, and restatements.
(A) Changes due to revision of accounting standards:(B) Changes due to reasons other than (A):(C) Changes in accounting estimates:(D) Restatements:

No
No
No
No

(3) Number of common shares issued at the end of period(A) Number of stocks issued (including treasury stocks):

September 30, 2013

258,139,248 shares

March 31, 2013

(B) Number of treasury stocks:

September 30, 2013

21,614,259 shares

March 31, 2013

258,139,248 shares
22,361,833 shares(C) Average outstanding stocks for the six months ended:

September 30, 2013

236,316,767 shares

September 30, 2012

235,719,212 shares(Non-Consolidated Financial Highlight)
1. Non-Consolidated Financial Results (for the six months ended September 30, 2013)(1) Operating Results(Unit: Millions of Yen, except per share data and percentages)
Ordinary Income

Ordinary Profit

Net Income

Six months ended September 30, 2013

54,847

9.4%

22,09437.0%

13,82438.8%

Six months ended September 30, 2012

50,125

1.9%

16,119

21.9%

9,953

32.3%

Net Income per ShareSix months ended September 30, 2013\58.49Six months ended September 30, 2012\42.22(Note) Percentages Shown in Ordinary Income, Ordinary Profit and Net Income are the increase (decrease) from the same period previous year.

(2) Financial Position(Unit: Millions of Yen, except percentages)
Total Assets

Total Net Assets

Own Capital Ratio

September 30, 2013

3,830,069

233,383

6.0%

March 31, 2013

3,760,471

217,768

5.7%(Reference) Own Capital: September 30, 2013: \232,974 million; March 31, 2013: \216,983 million(Note) Own Capital Ratio = (Total Net Assets – Subscription Rights to Shares) / Total Assets * 100

2. Earnings Forecasts (for the fiscal year ending March 31, 2014)

Fiscal year ending March 31, 2014

Ordinary Income

Ordinary Profit

106,000

37,500

2.7%

5.8%(Unit: Millions of Yen, except per share data)
Net Income per
Net Income
Share
23,0009.1%\97.24(Note) Percentages shown in Ordinary Income, Ordinary Profit and Net Income are the increase (decrease) from the same period pervious year.

（Statement relating to the status of the audit procedures）
This report is not subject to the audit procedures, which are based on the Financial Instruments and Exchange Law.
The audit procedures are not finished at the time of release of these financial statements.

(Notes for using forecasts information etc,)
1. The description of future performance of this report is based on information, which is presently available and certain assumptions which are considered tobe reasonable, and it does not guarantee future performance. Please take note that future performance may differ from forecasts. Regarding theassumptions for financial forecasts of this report, please refer to P2 of attached documents.
2. The bank is a specified business company under “the Cabinet Office Ordinance on disclosure of Corporate Information, etc.” Article 17-15 clause 2, andprepares the consolidated and non-consolidated interim financial statements for the 2nd quarter.

SURUGA bank LTD.

[Attachment]○ Contents of the attachment

１．Qualitative
information on the interim financial statements ............................................. 2
１．
(1) Description of business performance..................................................................................................... 2(2) Description of financial position .............................................................................................................. 2(3) Description of forward-looking information such as consolidated earnings forecast................... 2
2. Items regarding summary information (notes) ........................................................................................... 3
3. Interim consolidated financial statements .................................................................................................. 4(1) Interim consolidated balance sheets ...................................................................................................... 4(2) Interim consolidated statements of income and interim consolidated statements ofcomprehensive income ................................................................................................................................... 5(3) Interim consolidated statements of changes in net assets................................................................. 7(4) Explanatory notes regarding the going concern assumption ............................................................ 9
4. Interim financial statements ......................................................................................................................... 10(1) Interim balance sheets............................................................................................................................. 10(2) Interim statements of income ................................................................................................................. 12(3) Interim statements of changes in net assets ....................................................................................... 13(4) Explanatory notes regarding the going concern assumption .......................................................... 16

1

SURUGA bank LTD.

１．Qualitative
１．Qualitative information on the interim financial statements(1) Description of business performance
The Japanese economy during the interim consolidated period continued to improvemodestly as corporate earnings improved and domestic demand including personal
consumption remained strong thanks to easy monetary policy and the other economic
measures.
With
Wit h regard to the profit and loss situation on a consolidated basis ordinary income was up¥4.618 billion from the same period of the previous year to ¥58.671 billion owing to factors
such as gains from increase in interest on loans and discounts.
Ordinary expenses totaled ¥36.268 billion, down ¥998 million year
year- onon - year owing to factors
such as decrease in loan - loss allowance and retirement of shares.
As a result, ordinary profit increased ¥5.617 billion from a year earlier to ¥22.403 billion.
Net income during the interim period performed a year - onon - year increase of ¥3.622 billion
to ¥13.846 billion.
(2) Description of financial position
With regard to our main accounts on a consolidated basis at the end of the interim period,balance of loans and bills discounted totaled ¥2.804484 trillion, up ¥ 49.583 billion from the(non- consolidated) increasedsame period of the previous year as the personal loan balance (non¥71.547 billion.
Balance of securities totaled ¥228.868 billion, down ¥1.924 billion compared to the end of
the previous fiscal year.
The balanceb alance of deposits was up ¥54.233 billion to ¥3.564324 trillion from the end of theprevious fiscal year, as the balance of individual
individua l deposits grew ¥ 132.447 billion.
(3) Description of forward-looking information such as consolidated earnings forecast
endingThere is no change in forecasts for the year end
ing March 31, 2014 from the figures published on May 10, 2013.

Consolidated
Full year
Ordinary

income115,000 million yen

O r d i n a r y

p r o f i t

38,000 million yen

i n c o m e

23,100 million yen

N e t

NonNon-consolidated
Full year
Ordinary

income106,000 million yen

Net business profit

43,000 million yen

O r d i n a r y

p r o f i t

37,500 million yen

i n c o m e

23,000 million yen

CreditCredit - related expenses in real terms
term s4,000 million yen

N e t(Note) The earnings
earnings forecast was created based on the information available as of the date of this announcement
and actual results may differ from the forecast figures owing to various factors in the future.

2

SURUGA bank LTD.

2. Items regarding summary information (notes)
There is no applicable item.

3

SURUGA bank LTD.

3. Interim consolidated financial statements(1) Interim consolidated balance sheets
Millions of Yen
Previous consolidated
fiscal year
(March 31, 2013)

AssetsCash and due from banks
Call loans and bills bought
Trading account securities
Money held in trust
Securities
Loans and bills discounted
Foreign exchanges
Lease receivables and investment assets
Other assets
Tangible fixed assets
Intangible fixed assets
Deferred tax assets
Customers' liabilities for acceptances and guarantees
Allowance for loan losses
Total assets
Liabilities
Deposits
Borrowed money
Foreign exchanges
Other liabilities
Provision for bonus
Provision for directors' bonus
Provision for retirement benefits
Provision for directors' retirement benefits
Provision for reimbursement of deposits
Provision for contingent loss
Deferred tax liabilities
Acceptances and guarantees
Total liabilities
Net assets
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders' equity
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Total accumulated other comprehensive income
Subscription rights to shares
Minority interests
Total net assets
Total liabilities and net assets
4

Current interim
consolidated period(September 30, 2013)

109,970570,06434
1,000
230,792
2,754,901
3,927
5,652
38,635
48,95323,9197,917
4,170△ 30,282
3,769,657

181,975
515,61548
950
228,868
2,804,484
3,542
5,533
36,42149,133
28,101
5,447
4,347△ 28,277
3,836,195

3,510,091
3,265
17
25,024
648
80
261
2,701
274
552
119
4,170
3,547,207

3,564,324
2,735
6
21,853
676
―
271
2,800
318
540
138
4,347
3,598,012

30,043
19,547
179,511△ 17,194211,908
8,097
△ 15
8,082
784
1,675
222,450
3,769,657

30,043
20,211
191,354△ 16,647
224,961
11,089△ 4
11,084409
1,727
238,182
3,836,195

SURUGA bank LTD.

(2) Interim consolidated statements of income and interim consolidated statements ofcomprehensive income
Millions of Yen
Previous interim
consolidated period(from April 1st, 2012
to September 30, 2012)

Ordinary income
Interest income(Interest on loans and discounts)(Interest and dividends on securities)
Fees and commissions
Other ordinary income
Other income
Ordinary expenses
Interest expenses(Interest on deposits)
Fees and commissions payments
Other ordinary expenses
General and administrative expenses
Other expenses
Ordinary profit
Extraordinary income
Gain on disposal of noncurrent assets
Reversal of subscription rights to shares gain
Extraordinary loss
Loss on disposal of noncurrent assets
Interim income before income taxes and minority interests
Corporate, inhabitant, and enterprise taxes
Income taxes-deferred
Total income taxes
Interim income before minority interests
Income attributable to minority interests
Interim net income

554,053
44,83843,868
604
6,098
2,137
978
37,266
1,520
1,484
6,486
1,616
22,661
4,982
16,786―――58
58
16,728
3,620
2,724
6,345
10,382
158
10,224Current interim
consolidated period(from April 1st, 2013
to September 30, 2013)

58,671
48,97747,467
1,106
6,240
2,033
1,419
36,268
1,653
1,622
6,194
2,133
22,494
3,791
22,403
140
51
88
85
85
22,458
7,722
850
8,573
13,88538
13,846SURUGA bank LTD.

Interim consolidated statements of comprehensive income
Millions of Yen

Interim income before minority interests

Previous interim
consolidated period(from April 1st, 2012
to September 30, 2012)

Current interim
consolidated period(from April 1st, 2013
to September 30, 2013)

10,382

13,885△ 1,562

3,005

△ 18

10

△ 1,581

3,015

8,801

16,9008,648

16,848

152

51

Other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges

Total other comprehensive income

Interim comprehensive income(Breakdown)Comprehensive income attributable to owners of theparentComprehensive income attributable to minority
interests

6

SURUGA bank LTD.

(3) Interim consolidated statements of changes in net assets
Millions of Yen
Previous interim
Current interim
consolidated period
consolidated period(from April 1st, 2012
(from April 1st, 2013
to September 30, 2012) to September 30, 2013)

Shareholders' equity
Capital stock
Balance at the beginning of current period

30,04330,043――30,04330,043

19,501

19,547

Disposal of treasury stock―

663

Total changes of items during the interim period―

663

19,501

20,211

161,336

179,511△ 1,533△ 2,004

Interim net income

10,224

13,846

Total changes of items during the interim period

8,690

11,842

170,027

191,354△ 17,018△ 17,194

Purchase of treasury stock

△ 233

△ 51

Disposal of treasury stock

―

598

△ 233

547

△ 17,252△ 16,647

193,862

211,908△ 1,533△ 2,004

Interim net income

10,224

13,846

Purchase of treasury stock

△ 233

△ 51

Disposal of treasury stock

―

1,262

8,456

13,052

202,319

224,961

Changes of items during the interim period
Total changes of items during the interim period
Balance at the end of current interim period
Capital surplus
Balance at the beginning of current period
Changes of items during the interim period

Balance at the end of current interim period
Retained earnings
Balance at the beginning of current period
Changes of items during the interim period
Dividends from surplus

Balance at the end of current interim period
Treasury stock
Balance at the beginning of current period
Changes of items during the interim period

Total changes of items during the interim period
Balance at the end of current interim period
Total shareholders' equity
Balance at the beginning of current period
Changes of items during the interim period
Dividends from surplus

Total changes of items during the interim period
Balance at the end of current interim period

7

SURUGA bank LTD.

Millions of Yen
Previous interim
consolidated period(from April 1st, 2012
to September 30, 2012)

Current interim
consolidated period(from April 1st, 2013
to September 30, 2013)

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Balance at the beginning of current period

1,227

8,097

△ 1,555

2,992

Total changes of items during the interim period△ 1,555

2,992

Balance at the end of current interim period△ 328

11,08916△ 15

Net changes of items other than shareholders' equity during the interim period

△ 18

10

Total changes of items during the interim period

△ 18

10

△1

△4

1,243

8,082

Net changes of items other than shareholders' equity during the interim period△ 1,573

3,002

Total changes of items during the interim period△ 1,573

3,002

Balance at the end of current interim period△ 330

11,084760

784

Net changes of items other than shareholders' equity during the interim period

22

△ 374

Total changes of items during the interim period

22

△ 374

783

409

1,404

1,675

Net changes of items other than shareholders' equity during the interim period

152

51

Total changes of items during the interim period

152

51

1,557

1,727

197,271

222,450△ 1,533△ 2,004

Interim net income

10,224

13,846

Purchase of treasury stock

△ 233

△ 51

Disposal of treasury stock

―

1,262

△ 1,398

2,679

7,058

15,732

204,330

238,182

Changes of items during the interim period
Net changes of items other than shareholders' equity during the interim period

Deferred gains or losses on hedges
Balance at the beginning of current period
Changes of items during the interim period

Balance at the end of current interim period
Total accumulated other comprehensive income
Balance at the beginning of current period
Changes of items during the interim period

Subscription rights to shares
Balance at the beginning of current period
Changes of items during the interim period

Balance at the end of current interim period
Minority interests
Balance at the beginning of current period
Changes of items during the interim period

Balance at the end of current interim period
Total net assets
Balance at the beginning of current period
Changes of items during the interim period
Dividends from surplus

Net changes of items other than shareholders' equity during the interim period

Total changes of items during the interim period
Balance at the end of current interim period
8

SURUGA bank LTD.

(4) Explanatory notes regarding the going concern assumption
There is no applicable item.

9

SURUGA bank LTD.

4. Interim financial statements(1) Interim balance sheets
Millions of Yen

Previous fiscal year
(March 31, 2013)

AssetsCash and due from banks
Call loans
Trading account securities
Money held in trust
Securities
Loans and bills discounted
Foreign exchanges
Other assets
Other assets
Tangible fixed assets
Intangible fixed assets
Deferred tax assets
Customers' liabilities for acceptances and guarantees
Allowance for loan losses
Total assets
Liabilities
Deposits
Foreign exchanges
Other liabilities
Corporate tax payable
Lease obligations
Other liabilities
Provision for bonus
Provision for directors' bonus
Provision for directors' retirement benefits
Provision for reimbursement of deposits
Provision for contingent loss
Acceptances and guarantees
Total liabilities

10

Current interim period(September 30, 2013)109,215570,06434
1,000
235,432
2,755,395
3,927
30,77630,77647,566
21,272
7,513
4,176△ 25,906
3,760,471

181,708
515,61548950
233,4902,806,589
3,542
29,124
29,12447,79425,525
5,003
4,353△ 23,676
3,830,069

3,514,877
17
19,417
9,511
644
9,261
607
80
2,699
274
552
4,176
3,542,703

3,570,862
6
17,185
7,583
754
8,847
621
―
2,798
318
540
4,353
3,596,685

SURUGA bank LTD.
Millions of Yen

Previous fiscal year
(March 31, 2013)

Net assets
Capital stock
Capital surplus
Legal capital surplus
Other capital surplus
Retained earnings
Legal retained earnings
Other retained earnings
Reserve for advanced depreciation of noncurrent assets

General reserve
Retained earnings brought forward
Treasury stock
Total shareholders' equity
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Total valuation and translation adjustments
Subscription rights to shares
Total net assets
Total liabilities and net assets

11

30,043
18,631
18,585
45
177,646
30,043
147,603
55
103,032
44,516△ 17,194209,127
7,869
△ 13
7,856
784
217,768
3,760,471

Current interim period(September 30, 2013)

30,043
19,295
18,585709
189,466
30,043
159,42355
103,032
56,336△ 16,647
222,157
10,819△2
10,816409
233,3833,830,069

SURUGA bank LTD.

(2) Interim statements of income
Millions of Yen
Previous interim
period(from April 1st, 2012
to September 30, 2012)

Ordinary income
Interest income(Interest on loans and discounts)(Interest and dividends on securities)
Fees and commissions
Other ordinary income
Other income
Ordinary expenses
Interest expenses(Interest on deposits)
Fees and commissions payments
Other ordinary expenses
General and administrative expenses
Other expenses
Ordinary profit
Extraordinary income
Extraordinary loss
Interim net income before tax
Corporate, inhabitant, and enterprise taxes
Income taxes-deferred
Total income taxes
Interim net income

50,12543,22042,252
599
5,768
316
820
34,005
1,504
1,485
6,634
117
21,304
4,445
16,119―52
16,067
3,392
2,721
6,113
9,953

12

Current interim
period(from April 1st, 2013
to September 30, 2013)

54,847
46,98245,477
1,098
5,833
325
1,705
32,752
1,639
1,622
6,230
587
21,1593,136
22,094121
85
22,131
7,405
902
8,307
13,824SURUGA bank LTD.

(3) Interim statements of changes in net assets
Millions of Yen
Previousinterim period(from April 1st, 2012
to September 30, 2012)

Current
interim period(from April 1st, 2013
to September 30, 2013)

Shareholders' equity
Capital stock
Balance at the beginning of current period

30,04330,043――30,04330,043

18,585

18,585――

18,585

18,585―45

Disposal of treasury stock―

663

Total changes of items during the interim period

―

663

―

709

18,585

18,631

Disposal of treasury stock―

663

Total changes of items during the interim period―

663

18,585

19,29530,04330,043――30,04330,043

55

55

―

―

55

55

103,032

103,032――

103,032

103,032

Changes of items during the interim period
Total changes of items during the interim period
Balance at the end of current interim period
Capital surplus
Legal capital surplus
Balance at the beginning of current period
Changes of items during the interim period
Total changes of items during the interim period
Balance at the end of current interim period
Other capital surplus
Balance at the beginning of current period
Changes of items during the interim period

Balance at the end of current interim period
Total capital surplus
Balance at the beginning of current period
Changes of items during the interim period

Balance at the end of current interim period
Retained earnings
Legal retained earnings
Balance at the beginning of current period
Changes of items during the interim period
Total changes of items during the interim period
Balance at the end of current interim period
Other retained earnings
Reserve for advanced depreciation of noncurrent assets
Balance at the beginning of current period
Changes of items during the interim period
Total changes of items during the interim period
Balance at the end of current interim period
General reserve
Balance at the beginning of current period
Changes of items during the interim period
Total changes of items during the interim period
Balance at the end of current interim period
13

SURUGA bank LTD.
Millions of Yen
Previous
Current
interim periodinterim period(from April 1st, 2012
(from April 1st, 2013 toto September 30, 2012) September 30, 2013)

Retained earnings brought forward
Balance at the beginning of current period

26,51244,516△ 1,533△ 2,004

Interim net income

9,953

13,824

Total changes of items during the interim period

8,420

11,81934,93256,336

159,642

177,646△ 1,533△ 2,004

Interim net income

9,953

13,824

Total changes of items during the interim period

8,420

11,819168,062

189,466△ 17,018△ 17,194

Purchase of treasury stock

△ 233

△ 51

Disposal of treasury stock

―

598

△ 233

547

△ 17,252△ 16,647

191,253

209,127△ 1,533△ 2,004

Interim net income

9,953

13,824Purchase of treasury stock

△ 233

△ 51

Disposal of treasury stock

―

1,262

8,186

13,030199,439

222,157

Changes of items during the interim period
Dividends from surplus

Balance at the end of current interim period
Total retained earnings
Balance at the beginning of current period
Changes of items during the interim period
Dividends from surplus

Balance at the end of current interim period
Treasury stock
Balance at the beginning of current period
Changes of items during the interim period

Total changes of items during the interim period
Balance at the end of current interim period
Total shareholders' equity
Balance at the beginning of current period
Changes of items during the interim period
Dividends from surplus

Total changes of items during the interim period
Balance at the end of current interim period

14

SURUGA bank LTD.
Millions of Yen
Previous
Current
interim periodinterim period(from April 1st, 2012
(from April 1st, 2013
to September 30, 2012) to September 30, 2013)

Valuation and translation adjustments
Valuation difference on available-for-sale securities
Balance at the beginning of current period

1,102

7,869

Net changes of items other than shareholders' equity during the interim period△ 1,547

2,949

Total changes of items during the interim period△ 1,547

2,949

△ 444

10,81919△ 13

Net changes of items other than shareholders' equity during the interim period

△ 18

10

Total changes of items during the interim period

△ 18

10

0

△2

1,121

7,856

Net changes of items other than shareholders' equity during the interim period△ 1,565

2,959

Total changes of items during the interim period△ 1,565

2,959

△ 444

10,816760

784

Net changes of items other than shareholders' equity during the interim period

22

△ 374

Total changes of items during the interim period

22

△ 374

783

409

193,135

217,768△ 1,533△ 2,004

Interim net income

9,953

13,824Purchase of treasury stock

△ 233

△ 51

Disposal of treasury stock

―

1,262

△ 1,543

2,584

6,643

15,615

199,778

233,383

Changes of items during the interim period

Balance at the end of current interim period
Deferred gains or losses on hedges
Balance at the beginning of current period
Changes of items during the interim period

Balance at the end of current interim period
Total valuation and translation adjustments
Balance at the beginning of current period
Changes of items during the interim period

Balance at the end of current interim period
Subscription rights to shares
Balance at the beginning of current period
Changes of items during the interim period

Balance at the end of current interim period
Total net assets
Balance at the beginning of current period
Changes of items during the interim period
Dividends from surplus

Net changes of items other than shareholders' equity during the interim period

Total changes of items during the interim period
Balance at the end of current interim period

15

SURUGA bank LTD.

(4) Explanatory notes regarding the going concern assumption
There is no applicable item.

16