Annual Report 2024
Year Ended March 31, 2024

Message from the Management
Allow me to oﬀer my sincerest gratitude for yourcontinued support.
My name is Gotaro Michihiro and I have been appointed
as the president of San ju San Bank from April 1, 2024.
Our corporate philosophy is Contributing to creating avibrant future as a ﬁnancial group which is favorable forclients and grows along with the region. Based on thisphilosophy, we aim to create a virtuous cycle in which
local communities, local economies, and San ju San
Financial Group can grow together.
From April 2024, we started the third medium-termmanagement plan, positioning it as the start of a newtransformation following our merger, and within which
we established three basic policies: evolution of relations
and solutions , increase management eﬃciency andoptimization , and strengthening of management base.
We will undertake a variety of measures in the areas ofpromoting digital transformation strategy and practicing
human capital management as the engines of change.
Through our eﬀorts in this medium-term management plan,we will build solid relationships with regional clients,
provide diverse solutions to clients business challenges
and needs, and meet our client s expectations. In this way,
we aim to be the most reliable ﬁnancial group in the region.
We look forward to your continued support and patronage.
August 2024

Representative Directorand President

Gotaro Michihiro

Name“Wish”
contained in thecompany name

San ju San means that by adding（＋）the respective
strengths of former Mie Bank and former Daisan Bank,we wish to develop with the region and contribute to
the creation of a vibrant future.

Corporate philosophy

Contributing to creating a vibrant future as a ﬁnancialgroup which is favorable for clients and grows alongwith the region.
Annual Report 2024

2LogoConnotations contained within our logo mark
Our logo features two birds based around the motif of the number 33. These two birds signify former Mie
Bank and former Daisan Bank, and are also representative of members of the community and San ju San
Financial Group. This image of two birds taking ﬂight into the heavens together depicts both the growthof local communities and San ju San Financial Group, as well as a dynamic future.

Corporate Data
Address of Head Office

510 Kyomachi, Matsusaka, Mie

Address of Headquarters

7-8 Nishishinchi, Yokkaichi, Mie

Capital

MATSUSAKA（Head Oﬃce）
YOKKAICHI（Headquarters）
Mie Prefecture

NAGOYA
Aichi Prefecture

OSAKATOKYOJPY 10 billion

Listing Stock ExchangeTokyo Stock Exchange,
Nagoya Stock Exchange

Board Members
Director and Chairman

Mitsunori Watanabe

Representative Director and President

Gotaro Michihiro

Representative Director and Vice Chairman

Kenichi Yamakawa

Director and Executive Oﬃcer

Hiroki Horiuchi

Director and Executive Oﬃcer

Kazuya Kawase

Director and Executive Oﬃcer

Isao Matsumoto

Director and Executive Oﬃcer

Katsuhiro HoribeDirector（Audit Committee Member）

Yasuo Maeda

Outside Director（Audit Committee Member）

Sumie Yoshida

Outside Director（Audit Committee Member）

Kenichi Matsui

Outside Director（Audit Committee Member）

Takashi Ueda

Outside Director（Audit Committee Member）

Toshiyuki Shimizu

Note 1： Director（Audit Committee Member）Sumie Yoshida, Kenichi Matsui, Takashi Ueda andToshiyuki Shimizu are outside directors as deﬁned under Article 2（xv）of the Companies Act.（As of June21, 2024）

Annual Report 20243

Consolidated Balance Sheets
San ju San Financial Group, Inc

March 31, 2024 and 2023Millions of JP Yen
2024
2023

AssetsCash and Due from Banks
Monetary Claims Bought
Trading Securities
Money Held in TrustSecurities
Loans and Bills Discounted
Foreign Exchanges
Lease Receivables and Investments in Leases
Other Assets
Tangible Fixed Assets
Buildings, Net
Land
Leased Assets, Net
Construction in Progress
Other Tangible Fixed Assets
Intangible Fixed Assets
Software
Software in Progress
Other Intangible Fixed Assets
Retirement Benefit AssetDeferred Tax Assets
Customers' Liabilities for Acceptances and Guarantees
Allowance for Loan Losses

Total Assets

Liabilities

Deposits
Negotiable Certificates of DepositBorrowed Money
Foreign Exchanges
Other Liabilities
Provision for Bonuses
Retirement Benefit Liability
Provision for Retirement Benefits for Directors (and Other Officers)
Provision for Share Awards
Provision for Reimbursement of Deposits
Provision for Contingent Loss
Deferred Tax Liabilities
Acceptances and Guarantees

Total Liabilities

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
Remeasurements of Defined Benefit Plans
Total Accumulated Other Comprehensive Income
Non-Controlling Interests

Total Net Assets
Total Liabilities and Net Assets￥

432,5151,436
99−955,694
2,928,955
5,165
28,22758,38222,750
9,669
8,333
0
901
3,844
5,571
5,255
145
170
3,614
592
13,048（21,104）
4,434,950￥

3,806,565
81,202
291,345
3
25,258
977
134
65
207
173
684
2,136
13,0484,221,804￥

10,00049,254
141,162（315）
200,101
12,701（12）317
13,005
38
213,1454,434,950

￥￥

￥

￥

Thousands ofUS Dollars
2024

347,344
1,185
572
40,000922,896
2,852,066
7,937
27,366
57,91622,342
9,056
8,957
2
176
4,149
7,645
7,386
88
170
1,643
5,651
15,342（24,149）
4,285,761$

3,753,835
74,402
208,155
1
36,108
969
129
50
170
210
685
679
15,342
4,090,741$

10,00049,288136,141（325）
195,103925（19）（1,355）（448）
364
195,019
4,285,761$$$

2,858,094
9,495
659
−
6,315,298
19,354,758
34,134
186,527
385,796
150,334
63,89955,071
4
5,956
25,40236,81634,727959
1,128
23,881
3,916
86,228（139,458）
29,306,482
25,154,072
536,588
1,925,230
23
166,911
6,460
891
431
1,372
1,146
4,522
14,11786,22827,897,998

66,080325,474
932,814（2,086）
1,322,284
83,931（82）
2,094
85,943256
1,408,484$ 29,306,482
Exchange Rate
1US$=¥151.33

Annual Report 2024

4

Consolidated Statements of Income
and Consolidated Statements of Comprehensive Income
San ju San Financial Group, IncYears ended March 31, 2024 and 2023

Consolidated Statements 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
Recoveries of Written Off Receivables
Other￥Ordinary Expenses

Interest Expenses
Interest on Deposits
Interest on Negotiable Certificates of Deposit
Interest Expenses on Cash Collateral Received for Securities Lent
Interest 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
OtherOrdinary Profit
Extraordinary Income

Gain on Disposal of Non-Current Assets

Extraordinary Losses

Loss on Disposal of Non-Current AssetsImpairment Losses

Profit before Income Taxes
Total Income Taxes
Income Taxes - Current
Income Taxes - Deferred

ProfitProfit Attributable to Non-Controlling Interests

Profit Attributable to Owners of Parent￥

Consolidated Statements of Comprehensive Income
ProfitOther Comprehensive Income

Valuation Difference on Available-for-Sale Securities
Deffered Gains or Losses on Hedges
Remeasurements of Defined Benefit Plans, Net of Tax

Comprehensive Income

Comprehensive Income Attributable to Owners of Parent
Comprehensive Income Attributable to Non-Controlling Interests￥Millions of JP Yen2024
2023
67,84865,901￥
34,23532,76828,48327,446
5,346
4,738
6
−
332
505
72
71
14,83815,035
2,042
1,725
16,732
16,3710
2
16,731
16,36958,092
57,163
485
454
369
326
4
4
10
2
75
92
24
29
3,638
3,242
1,439
934
37,18637,474
15,342
15,0571,287
1,039
14,05514,018
9,755
8,737
1,376
1,214
1,376
1,214
684
967
365
378
318
589
10,447
8,985
3,518
2,624
2,389
1,735
1,128
889
6,929
6,360
24
28
6,904
6,332
￥

Millions of JP Yen
2024
2023
6,929
6,360
￥
13,468（8,731）
11,789（8,281）6
8
1,672（458）20,397（2,370）20,359（2,401）
38
31

Thousands of
US Dollars
2024
448,347$
226,231
188,22135,330−2,200
479
98,051
13,495110,5683
110,564
383,881
3,208
2,440
32
72
500
162
24,046
9,509
245,731
101,385
8,505
92,88064,465
9,095
9,095
4,521
2,417
2,104
69,03923,24915,7897,460
45,789163
45,625$
Exchange Rate
1US$=¥151.33
Thousands of
US Dollars
2024
45,789$88,99877,90345
11,049134,787
134,534
253
Exchange Rate
1US$=¥151.33

Annual Report 2024

5Consolidated Balance Sheets
San ju San BANK, LTD. and Consolidated Subsidiaries

March 31, 2024 and 2023
Millions of JP Yen
2024
2023

AssetsCash and Due from Banks
Monetary Claims Bought
Trading Securities
Money Held in Trust
Securities
Loans and Bills Discounted
Foreign Exchanges
Lease Receivables and Investments in Leases
Other Assets
Tangible Fixed Assets
Buildings, NetLand
Leased Assets, Net
Construction in Progress
Other Tangible Fixed Assets
Intangible Fixed Assets
Software
Software in Progress
Other Intangible Fixed Assets
Retirement Benefit AssetDeferred Tax AssetsCustomers' Liabilities for Acceptances and Guarantees
Allowance for Loan Losses

Total Assets

Liabilities

Deposits
Negotiable Certificates of Deposit
Borrowed Money
Foreign Exchanges
Other Liabilities
Provision for Bonuses
Retirement Benefit Liability
Provision for Retirement Benefits for Directors (and Other Officers)
Provision for Share Awards
Provision for Reimbursement of Deposits
Provision for Contingent Loss
Deferred Tax Liabilities
Deferred Tax Liabilities for Land Revaluation
Acceptances and Guarantees

Total Liabilities

Net Assets

Share Capital
Capital Surplus
Retained Earnings￥￥￥￥￥

Total Shareholders' EquityValuation Difference on Available-for-Sale Securities
Deferred Gains or Losses on Hedges
Revaluation Reserve for Land
Remeasurements of Defined Benefit Plans
Total Accumulated Other Comprehensive Income
Non-Controlling Interests

Total Net Assets
Total Liabilities and Net Assets￥432,460
1,436
99−
955,694
2,928,955
5,165
28,22758,48428,22910,35013,133
0
901
3,844
5,569
5,255
145
169
3,614
585
13,048（21,104）
4,440,467￥

3,807,584
81,202
291,345
3
25,158
970
134
65
207
173
684
1,840
1,437
13,0484,223,857￥

37,46130,658
127,167
195,287
20,103
（12）
1,164
29
21,284
38
216,6104,440,467

￥

￥

￥

￥

Thousands of
US Dollars
2024

347,296
1,185
572
40,000922,896
2,852,066
7,937
27,366
57,77628,4209,897
14,194
2
176
4,149
7,643
7,386
88
168
1,643
5,644
15,342（24,149）
4,291,642$

3,754,576
74,402
208,155
1
36,029
962
129
50
170
210
685
333
1,609
15,342
4,092,660$

37,461
30,692
121,897
190,051
8,815
（19）
1,477
（1,708）8,565
364
198,981
4,291,642$$$

2,857,730
9,495
659
−
6,315,298
19,354,758
34,134
186,527
386,470
186,544
68,39386,787
4
5,956
25,40236,80434,727959
1,117
23,881
3,871
86,228（139,458）
29,342,945

25,160,807
536,588
1,925,230
23
166,248
6,413
891
431
1,372
1,146
4,522
12,161
9,501
86,22827,911,567

247,546
202,593
840,331
1,290,471
132,844
（82）
7,692
195
140,649
256
1,431,378$ 29,342,945
Exchange Rate
1US$=¥151.33

Annual Report 2024

6Consolidated Statements of Income
and Consolidated Statements of Comprehensive Income
San ju San BANK, LTD. and Consolidated Subsidiaries

Millions of JP Yen
2024
2023

Consolidated Statements 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
Recoveries of Written Off Receivables
Other￥Ordinary Expenses

Interest Expenses
Interest on Deposits
Interest on Negotiable Certificates of Deposit
Interest Expenses on Cash Collateral Received for Securities Lent
Interest on Borrowings and Rediscounts
Other Interest Expenses
Fees and Commissions PaymentsOther Ordinary Expenses
General and Administrative Expenses
Other Expenses
Provision of Allowance for Loan Losses
OtherOrdinary Profit
Extraordinary Income

Gain on Disposal of Non-Current Assets

Extraordinary Losses

Loss on Disposal of Non-Current Assets
Impairment Losses

Profit before Income Taxes
Total Income Taxes
Income Taxes-Current
Income Taxes-Deferred

ProfitProfit Attributable to Non-Controlling Interests

Profit Attributable to Owners of Parent￥

Valuation Difference on Available-for-Sale Securities
Deffered Gains or Losses on Hedges
Remeasurements of Defined Benefit Plans, Net of Tax

Comprehensive IncomeComprehensive Income Attributable to Owners of Parent
Comprehensive Income Attributable to Non-Controlling Interests

68,50634,39728,483
5,508
−
332
72
14,8382,042
17,2280
17,22758,282
485
369
4
10
75
24
3,637
1,449
37,367
15,342
1,287
14,055
10,223
1,265
1,265
1,107
471
635
10,381
3,516
2,375
1,141
6,864
24
6,839

￥

￥

66,61333,15627,446
5,126
6
505
71
15,035
1,729
16,691
2
16,688
57,100
454
326
42
92
29
3,240
832
37,654
14,9191,039
13,879
9,512
425
425
1,207
406
8008,731
2,531
1,725
806
6,199
28
6,171

Millions of JP Yen
2024
2023

Consolidated Statements of Comprehensive Income
ProfitOther Comprehensive Income

Years ended March 31, 2024 and 2023

￥

6,864
13,046
11,301
6
1,738
19,911
19,87338￥

6,199（9,388）（8,999）8（397）（3,188）（3,219）31

Thousands ofUS Dollars
2024$

452,695
227,299
188,221
36,398−2,200
479
98,054
13,495
113,846
3113,842
385,136
3,208
2,440
32
72500
162
24,0359,577
246,929
101,385
8,505
92,88067,559
8,361
8,361
7,319
3,117
4,202
68,601
23,23915,695
7,543
45,362
163
45,198$Exchange Rate
1US$=¥151.33
Thousands ofUS Dollars
2024$

45,362
86,21474,68245
11,486
131,576
131,322
253
Exchange Rate
1US$=¥151.33

Annual Report 2024

7

San ju San Financial Group, Inc.
Head Office : 510 Kyomachi, Matsusaka, Mie,515-8530,Japan
TEL : +81-598-21-3303
Headquarters : 7-8 Nishishinchi, Yokkaichi, Mie,510-0087,Japan
TEL : +81-59-357-3355
URL : https://www.33fg.co.jp/San ju San Bank,Ltd.

7-8 Nishishinchi, Yokkaichi, Mie,510-0087,JapanTEL : +81-59-353-3111
URL : https://www.33bank.co.jp/
E-mail : koho@33bank.co.jp