Note: This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy
between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results
for the Year Ended March 31, 2023
[Japanese GAAP]May 12, 2023
Company name: Nishi-Nippon Financial Holdings, Inc.
Stock exchange listing: Tokyo,Fukuoka
Code number: 7189
URL: https://www.nnfh.co.jp
Representative: Hideyuki Murakami
President
Contact: Hiroto Funatsu
General Manager of Corporate Planning Division
Phone: 092-476-5050
Scheduled date of Annual General Meeting of Shareholders: June 29, 2023
Scheduled date of commencing dividend payments: June 30, 2023
Scheduled date of filing annual securities report: June 30, 2023
Trading Accounts: Yes
Availability of supplementary briefing material on annual financial results: Yes
Schedule of annual financial results briefing session: Yes(for institutional investors, analysts)(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2023 (April 01, 2022 to March 31, 2023)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable to owners of
Ordinary revenues
Ordinary profit
parentMillion yen%
Million yen%
Million yen%
Fiscal year ended
March 31, 2023
160,448
15.9
33,677(11.1)
26,064
7.5
March 31, 2022
138,484
2.6
37,86841.5
24,23634.0(Note) Comprehensive income:Fiscal year ended March 31, 2023:¥
15,423 million [-%]Fiscal year ended March 31, 2022:¥(12,293) million [-%]Basic earnings per Diluted earnings per Rate of return on
share
share
equityYen
Fiscal year ended
March 31, 2023
181.57
March 31, 2022
164.31(Reference) Equity in earnings (losses) of affiliated companies:

Yen

Ordinary profit tototal assets ratio

%

5.0
4.6
Fiscal year ended March 31, 2023:
Fiscal year ended March 31, 2022:

Ordinary profit toordinary revenues
ratio

%

%

0.3
0.3
¥
¥

21.0
27.3
8,319 million
56 million(2) Consolidated Financial Position
Total assets
As ofMarch 31, 2023
March 31, 2022
(Reference) Equity:

Million yen

Net assets

Capital adequacy ratio

Million yen

12,985,181
539,444
13,127,906
530,724
As of March 31, 2023:¥
529,823 million
As of March 31, 2022:¥
522,169 million(Note) Capital adequacy ratio = (Total net assets - Non-controlling interests ) / Total assets.
The ratio above is not based on the regulation of Capital Adequacy Ratio.

Net assets per share

%

Yen

4.1
4.0

3,744.47
3,618.44(3) Consolidated Cash Flows
Cash flows fromoperating activities
Fiscal year ended
March 31, 2023
March 31, 2022

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at the endof period

Million yen

Million yen

Million yen

Million yen(639,731)
1,151,099(20,442)(268,495)(8,175)(7,610)1,939,733
2,608,074

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

Year-end

Total

Total
dividends

Payoutratio(consolidated)

Dividends
to netassets(consolidated)

Fiscal year ended

Yen

Yen

Yen

Yen

Yen

Million yen%%

March 31, 2022

-

15.00

-

20.00

35.00

5,109

21.3

1.0

March 31, 2023

-

17.50

-

27.50

45.00

6,420

24.8

1.2

-

25.00

-

25.00

50.00

Fiscal year ending
March 31, 2024-

(Forecast)
3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024 (April 01, 2023 to March 31, 2024)(% indicates changes from the previous corresponding period.)
Profit attributable to owners of
Ordinary profit
Basic earnings per shareparentSix months ended
September 30, 2023
Full year

Million yen%

Million yen%

Yen

18,500(2.8)

12,500

(7.4)

88.34

34,5002.4

24,000(7.9)

169.62* Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes inscope of consolidation): No(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: Yes
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(3) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
March 31, 2023:
148,596,955 shares
March 31, 2022:
151,596,955 shares
2) Number of treasury shares at the end of the period:
March 31, 2023:
7,102,038 shares
March 31, 2022:
7,288,911 shares
3) Average number of shares outstanding during the period:
Fiscal Year ended March 31, 2023:
Fiscal Year ended March 31, 2022:

143,551,305 shares
147,500,789 shares(Note) The total number of treasury shares at the end of the period includes treasury shares held by a trust account for Board
Benefit Trust (BBT) (121,000 shares as of March 31, 2023). In addition, treasury shares held by the trust account(66,000 shares for fiscal year ended March 31, 2023) are included in the number of treasury shares that is deductedin the calculation of the average number of shares during the period.

(Reference) Summary of Non-consolidated Financial Results
1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2023 (April 01, 2022 to March 31, 2023)(1) Non-consolidated Operating Results(% indicates changes from the previous corresponding period.)
Operating revenues
Fiscal year ended
March 31, 2023
March 31, 2022

Operating profit

Ordinary profit

Net income

Million yen%

Million yen%

Million yen%

Million yen%

10,303
8,249

24.9
31.3

9,331
7,390

26.3
33.2

9,035
7,199

25.5
32.9

8,970
7,182

24.9
33.2

Basic earnings per share
Fiscal year ended
March 31, 2023
March 31, 2022

Yen

62.48
48.69

(2) Non-consolidated Financial Position
Total assets
As ofMarch 31, 2023
March 31, 2022
(Reference) Equity:

Net assets

Million yen

426,209421,938
As of March 31, 2023:
As of March 31, 2022:

Capital adequacy ratio

Million yen¥¥

371,503
370,610
371,503 million
370,610 million

Net assets per share

%

Yen

87.2
87.8

2,625.17
2,567.82(Note)This report is out of the scope of the audit by certified public accountants or independent audit firms.
(Note)Explanation for proper use of forecasts and other notes
The above forecasts are based on the information which is presently available and certain assumptions which areconsidered to be reasonable.
Actual results may differ materially from those forecasts depending on various future factors.

Consolidated Financial Statements
Consolidated Balance Sheets(Million yen)
As of March 31,2022
AssetsCash and due from banks
Call loans and bills bought
Monetary claims bought
Money held in trust
Securities
Loans and bills discounted
Foreign exchanges
Other assets
Tangible fixed assets
Buildings, net
Land
Leased assets, net
Construction in progress
Other tangible fixed assets
Intangible fixed assets
Software
Other intangible fixed assets
Retirement benefit asset
Deferred tax assets
Customers' liabilities for acceptances and guarantees
Allowance for loan losses
Allowance for investment loss
Total assets
Liabilities
Deposits
Negotiable certificates of deposit
Call money and bills sold
Securities sold under repurchase agreements
Cash collateral received for securities lent
Borrowed money
Foreign exchanges
Borrowed money from trust account
Other liabilities
Provision for share awards for directors (and otherofficers)
Retirement benefit liability
Provision for retirement benefits for directors (andother officers)
Provision for reimbursement of deposits
Provision for contingent loss
Reserves under special laws
Deferred tax liabilities
Deferred tax liabilities for land revaluation
Acceptances and guarantees
Total liabilities

As of March 31,2023

2,614,747
39,621
11,682
1,773,344
8,470,861
22,75790,311
116,172
32,542
74,273
324
55
8,977
4,160
3,748
411
7,548
2,109
17,639(42,473)(577)
13,127,906

1,946,575
8,011
42,733
11,6091,792,650
8,955,399
17,311
99,071
116,854
31,62275,659
361
530
8,680
5,204
4,787
416
8,038
6,367
16,372(40,455)(562)
12,985,181

9,570,343
264,293510,000
251,120
87,1881,755,240
201
4,794
113,952

9,791,772
167,423
512,491
265,881
293,853
1,249,709
504
5,233
120,171

-

4

4,773

4,647

201

200

825
1,096
12
844
14,652
17,63912,597,181

545
1,194
12
1,070
14,646
16,372
12,445,737

(Million yen)
As of March 31,2022
Net assets
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Revaluation reserve for landRemeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

50,000121,123
304,236(5,522)469,837
38,616(8)
29,438(15,715)
52,332
8,555
530,724
13,127,906

As of March 31,2023

50,000118,706
325,460(5,698)488,468
25,757
1,015
29,425(14,843)
41,355
9,620
539,444
12,985,181

Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income(Million yen)
For the fiscal year
ended March 31,2022
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
Trust fees
Fees and commissions
Gain on trading account transactions
Other ordinary income
Other income
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 securities sold under
repurchase agreements
Interest 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 bargain purchase
Gain on step acquisitions
Extraordinary losses
Loss on disposal of non-current assets
Impairment losses
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

For the fiscal year
ended March 31,2023

138,484
98,228
81,10912,893
0
2,852
1,372
0
32,468
1,919
3,069
2,799
378
2,421
100,616
855
416
26
(113)

160,448
106,142
81,24221,012
28
2,398
1,459
0
33,136
1,369
8,064
11,735251
11,483
126,770
12,401
432
19
319

383

7,627

13

22

52
75
11,536
1,654
79,173
7,397
1,939
5,457
37,868
142
142
856
390
465
37,154
10,824
1,518
12,342
24,811
575
24,236589
3,390
12,021
16,13080,634
5,583
1,984
3,598
33,677
869
32
564
272
435
368
66
34,111
6,513
1,164
7,678
26,433368
26,064

Consolidated Statements of Comprehensive Income(Million yen)
For the fiscal year
ended March 31,2022
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to non-controllinginterests

For the fiscal year
ended March 31,2023

24,811(37,104)(26,560)
1,419(11,963)

26,433(11,009)(12,962)
1,023
872

-

56

(12,293)

15,423(12,928)

15,087635

336

Consolidated Statements of Changes in Net Assets
For the fiscal year ended March 31,2022(Million yen)
Shareholders' equity

Balance at beginning of
periodCumulative effects ofchanges in accounting
policies
Restated balance

Share capital

Capital surplus

50,000127,202

Retainedearnings

284,535

Treasury shares

Total
shareholders'equity(8,597)453,140(244)
50,000127,202284,290(244)(8,597)452,895

Changes during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesCancellation oftreasury shares
Reversal ofrevaluation reserve forland
Net changes in items
other thanshareholders' equity
Total changes during
periodBalance at end of period(4,445)(4,445)24,23624,236(3,004)(3,004)(0)

0

0(6,078)

6,078

-

153

153

-

(6,078)19,945

3,074

16,94150,000121,123

304,236(5,522)469,837

Accumulated other comprehensive income
Total
Valuation
Remeasurements accumulated Non-controlling Total net assets
difference on Deferred gains or Revaluationinterestsof defined
otheravailable-for-sale losses on hedges reserve for land
benefit plans comprehensive
securities
incomeBalance at beginning of
periodCumulative effects ofchanges in accounting
policies
Restated balance

65,23865,238(1,428)(1,428)29,592

29,592(3,751)(3,751)89,65189,651

8,114

550,906

(32)

(277)

8,081

550,629

Changes during period(4,445)

Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesCancellation oftreasury shares
Reversal ofrevaluation reserve forland
Net changes in items
other thanshareholders' equity
Total changes during
periodBalance at end of period

24,236(3,004)0
153(26,621)

1,419

(153)

(11,963)(37,319)473(36,845)(26,621)

1,419

(153)

(11,963)(37,319)473(19,904)

38,616(8)

29,438(15,715)

52,332

8,555

530,724

For the fiscal year ended March 31,2023(Million yen)
Shareholders' equity

Balance at beginning of
periodShare capital

Capital surplus

50,000121,123

Retainedearnings

304,236

Treasury shares

Total
shareholders'equity(5,522)469,837

Changes during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesCancellation oftreasury shares
Retained earnings
increased sales
associated with aincrease in equity
method affiliates
Reversal ofrevaluation reserve forland
Net changes in items
other thanshareholders' equity
Total changes during
periodBalance at end of period(5,412)(5,412)

26,06426,064(2,593)(2,593)(0)00(2,417)

2,417

-

559

559

13

13

-

(2,417)

21,224(176)

18,63150,000118,706

325,460(5,698)488,468

Accumulated other comprehensive income
Total
Valuation
Remeasurements accumulated Non-controlling Total net assets
difference on Deferred gains or Revaluationinterestsof defined
otheravailable-for-sale losses on hedges reserve for land
benefit plans comprehensive
securities
incomeBalance at beginning of
period38,616(8)

29,438(15,715)

52,332

8,555

530,724

Changes during period(5,412)

Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesCancellation oftreasury shares
Retained earnings
increased sales
associated with aincrease in equity
method affiliates
Reversal ofrevaluation reserve forland
Net changes in items
other thanshareholders' equity
Total changes during
periodBalance at end of period

26,064(2,593)
0
-

559

13
(12,859)

1,023

(13)

871

(10,977)

1,065(9,911)(12,859)

1,023

(13)

871

(10,977)

1,065

8,719

25,757

1,015

29,425(14,843)

41,355

9,620

539,444

Consolidated Statements of Cash Flows(Million yen)
For the fiscal year
ended March 31,2022
Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment losses
Gain on bargain purchase
Loss (gain) on step acquisitions
Share of loss (profit) of entities accounted for using
equity method
Increase (decrease) in allowance for loan losses
Increase (decrease) in allowance for investment loss
Increase (decrease) in provision for share awards for
directors (and other officers)
Decrease (increase) on net defined benefit assets
Increase (decrease) in retirement benefit liability
Increase (decrease) in provision for retirement benefits
for directors (and other officers)
Increase (decrease) in provision for reimbursement ofdeposits
Increase (decrease) in provision for contingent loss
Interest income
Interest expenses
Loss (gain) related to securities
Loss (gain) on money held in trust
Foreign exchange losses (gains)
Loss (gain) on disposal of non-current assets
Net decrease (increase) in trading account assets
Net decrease (increase) in loans and bills discounted
Net increase (decrease) in deposits
Net increase (decrease) in negotiable certificates ofdeposit
Net increase (decrease) in borrowed money (excluding
subordinated borrowings)
Net decrease (increase) in due from banks (excluding
due from Bank of Japan)
Net decrease (increase) in call loans
Net increase (decrease) in call money
Net increase (decrease) in cash collateral received for
securities lent
Net decrease (increase) in foreign exchanges - assets
Net increase (decrease) in foreign exchanges liabilities
Net increase (decrease) in borrowed money from trust
account
Interest received
Interest paid
Other, net
Subtotal
Income taxes paid
Net cash provided by (used in) operating activities

For the fiscal year
ended March 31,2023

37,154
5,674
465-

34,111
5,845
66
(564)
(272)

(56)

(8,319)(1,595)0(2,025)(14)-

410,222
4,295(489)(1,707)

(55)

(0)

(360)

(279)

(158)
(98,228)
855
(45)
5
(674)
248
131
73,084
274,854

97(106,142)
12,401
8,195
74(1,260)336(484,538)
223,471

75,772(96,869)

317,552(505,531)

(979)

676

(2,898)358,698(11,124)
17,252

46,053

206,665(11,682)

5,445

(9)

303

1,589

438

99,359(1,080)(32,145)
1,156,049(4,950)1,151,099

106,488(10,145)(17,602)(625,015)(14,716)(639,731)

(Million yen)
For the fiscal year
ended March 31,2022
Cash flows from investing activities
Purchase of securities
Proceeds from sale of securities
Proceeds from redemption of securities
Increase in money held in trust
Purchase of tangible fixed assets
Proceeds from sale of tangible fixed assets
Purchase of intangible fixed assets
Purchase of shares of subsidiaries resulting in change
in scope of consolidation
Net cash provided by (used in) investing activities
Cash flows from financing activities
Dividends paid
Dividends paid to non-controlling interests
Purchase of treasury shares
Proceeds from sale of treasury shares
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

For the fiscal year
ended March 31,2023(500,365)
126,185
111,026(426)(3,339)419(1,995)(484,648)
300,099
173,881(17)(3,130)112(2,358)-(4,380)(268,495)(20,442)(4,444)(162)(3,004)0(7,610)(5,409)(172)(2,593)0(8,175)13

8875,006
1,733,067
2,608,074(668,341)
2,608,074
1,939,733