August 10, 2022
To whom it may concern:
Name of Company:
Name of Representative:
Contact Person:

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

Announcement Regarding the Revision to the Earnings Forecast
Suruga Bank, Ltd. announces that the company has revised the earnings forecast announced on May 13, 2022 as
follows in light of our recent business performance.
Note

1. Revision of earning forecast
Consolidated revision of earning forecast for the first half of FY3/23
Ordinary income

Ordinary profit

Profit attributable toowners of parent

Earnings pershare

Millions of yen

Millions of yen

Millions of yen

Yen

Previous forecast (A)42,500

3,000

2,500

13.27

Current forecast (B)45,50012,00011,00058.41

Change (B-A)

3,000

9,000

8,500

Percent change

7.0

300.0

340.0

54,142

21,327

17,805

Ordinary profit

Profit attributable toowners of parent(Reference)
Results for the first half ofFY3/22

76.86

Consolidated revision of earning forecast for the FY3/23
Ordinary income

Earnings pershareMillions of yen

Millions of yen

Millions of yen

Yen

Previous forecast (A)84,000

8,000

7,000

37.17

Current forecast (B)86,00010,500

9,000

47.79

Change (B-A)

2,000

2,500

2,000

Percent change

2.3

31.2

28.5

92,072

10,596

7,960(Reference)
Results for the FY3/22

34.72

Non-consolidated revision of earning forecast for the first half of FY3/23
Ordinary income

Ordinary profit

Earnings per
shareProfit

Millions of yen

Millions of yen

Millions of yen

Yen

Previous forecast (A)38,500

3,000

2,500

13.27

Current forecast (B)40,50011,00010,50055.75Change (B-A)

2,000

8,000

8,000

Percent change

5.1

266.6

320.0

49,693

20,875

17,594

Ordinary profit

Profit attributable toowners of parent(Reference)
Results for the first half of
FY3/2275.94

Non-consolidated revision of earning forecast for the FY3/23
Ordinary income

Earnings pershare

Millions of yen

Millions of yen

Millions of yen

Yen

Previous forecast (A)76,000

7,500

6,500

34.51

Current forecast (B)77,000

9,000

8,500

45.13

Change (B-A)

1,000

1,500

2,000

Percent change

1.3

20.0

30.7

83,658

10,0937,854(Reference)
Results for the FY3/22

34.26

2. Reasons for revision
In addition to the fact that actual credit costs are now expected to be lower than the initial forecast on a bank nonconsolidated basis, based on the market environment, the consolidated and non-consolidated earnings forecasts forQ2 and the full year have been revised in order to reduce the risk in the securities portfolio that was not planned at
the beginning of the period. This revision is due to reasons including the facts that recording of losses on theredemption of government and other bonds and a reduction in dividends on securities interest can now be expected
on a bank non-consolidated basis, and the fact that recording of gains on the sale of shares on a bank non-consolidated
basis and for consolidated subsidiaries can now be expected.

(Reference)Non-consolidated earnings forecast for the first half of FY3/23
Current forecast (A)(Billions of yen)Previous forecast (B)Change (A) – (B)Ordinary income

40.5

38.5

2.0

Gross operating profit

28.5

30.0

(1.5)

19.5

19.5

-Core net operating profit

11.5

10.5

1.0

Net operating profit8.0

9.0(1.0)

Ordinary profit

11.0

3.0

8.0

Net income

10.5

2.5

8.0

Actual credit costs(0.5)

7.5(8.0)

ExpensesNon-consolidated earnings forecast for the FY3/23(Billions of yen)

Current forecast (A)Previous forecast (B)Change (A) – (B)Ordinary income

77.0

76.0

1.0

Gross operating profit

56.0

59.0(3.0)

38.0

38.0-

Core net operating profit

21.0

21.0

-

Net operating profit

17.0

19.0(2.0)

Ordinary profit

9.0

7.5

1.5

Net income

8.5

6.5

2.0

Actual credit costs

10.5

13.5(3.0)

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