November 14, 2019
To whom it may concern:
Name of Company:
Name of Representative:
Contact Person:

Suruga Bank, Ltd.
Director and President: Michio Arikuni(Code No. 8358 First Section of Tokyo Stock Exchange)
Senior Executive Officer
General Manager of General Management Planning
Headquarters: Tatsuya Akita(TEL 03-3279-5536)

Announcement Regarding the Difference between the Forecast and Actual Results for the Six Months Ended
September 30, 2019 and a Revision to the Earnings Forecast for the Fiscal year ending March 31, 2020
Suruga Bank, Ltd. announces that a difference has arisen between the consolidated forecast for the six months ended
September 30, 2019, announced on August 14, 2019, and the actual results for the period.
It also announces that it has revised the earnings forecast for the fiscal year ending March 31, 2020, announced on
August 14, 2019, as follows:
Note
1. Difference between the forecast and the actual results for the six months ended September 30, 2019.
Consolidated
Ordinary income

Ordinary profit

Profit attributable toowners of parent

Earnings pershare

Millions of yen

Millions of yen

Millions of yenyen−

8,000

5,000

21.58

64,062

20,09915,972

68.95

Change (B-A)−

12,09910,972

Percent change

−

151.2

219.4

75,027(85,726)(100,785)

Ordinary income

Ordinary profit

Profit attributable toowners of parent

Previous forecast (A)Actual results (B)(Reference)
Results for the fiscal year
ended September 30, 2018(435.08)

Non-consolidated
Earnings pershare

Millions of yen

Millions of yen

Millions of yenyen

−

7,500

5,000

21.58

57,133

19,38815,63867.50

Change (B-A)−

11,888

10,638Percent change

−

158.5

212.7

70,239(83,737)(98,280)

Previous forecast (A)Actual results (B)(Reference)
Results for the fiscal year
ended September 30, 2018

−1−(424.26)

2. Revision of earning forecast for the fiscal year ending March 31, 2020.
Consolidated
Ordinary income

Ordinary profit

Profit attributable toowners of parent

Earnings pershare

Millions of yen

Millions of yen

Millions of yenyen

Previous forecast (A)−16,00010,500

45.32

Current forecast (B)116,500

23,00015,50066.91

Change (B-A)−

7,0005,000

Percent change

−

43.7

47.6

139,635(74,342)(97,146)

Ordinary income

Ordinary profit

Profit attributable toowners of parent(Reference)
Results for the fiscal year
ended March 31, 2019(419.36)

Non-consolidated
Earnings pershare

Millions of yen

Millions of yen

Millions of yenyen

Previous forecast (A)−15,00010,00043.16

Current forecast (B)103,000

22,00015,00064.75

Change (B-A)

−

7,000

5,000

Percent change

−

46.6

50.0

127,407(74,985)(97,016)(Reference)
Results for the fiscal year
ended March 31, 2019(418.80)

3. Reasons for difference and revision
Ordinary income decreased as fund management revenue has diminished due to a decline in interests on loans.
However, both ordinary profits and interim profits have exceeded earnings forecasts due to a decrease in actual credit
costs.
Fiscal year forecasts ending March 31, 2020 have been revised to reflect the results of the interim period.

−2−

(Reference)(1) Non-consolidated earnings forecast (Six months ended September 30, 2019)
Actual results (A)Previous forecast (B)(Billions of yen)
Change (A-B)

Ordinary income

57.1

−−

Core net operating profit

19.8

17.0

2.8

Net operating profit

18.3

16.5

1.8

Ordinary profit

19.3

7.5

11.8

Net income15.6

5.0

10.6

Actual credit costs

6.3

9.5(3.2)(2) Non-consolidated earnings forecast (Fiscal year ending March 31, 2020)(Billions of yen)

Actual results (A)Previous forecast (B)Change (A-B)

Ordinary income

103.0

−

−

Core net operating profit

36.0

34.0

2.0

Net operating profit

33.0

33.0

−

Ordinary profit

22.0

15.0

7.0

Net income

15.0

10.0

5.0

Actual credit costs

19.0

19.0−

(3) Capital adequacy ratio (domestic standard)
September 30, 2019
Capital adequacy ratio (non-consolidated)

9.33%

Capital adequacy ratio (consolidated)

9.23%(Note)The performance forecasts in this report are based on information currently available to the company and on
certain assumptions deemed to be reasonable. Actual performance may differ.

−3−