Annual Report 2023
Fiscal year ended March 31, 2023

HAMAMATSU IWATA SHINKIN BANK Annual Report 2023

About Hamamatsu Iwata Shinkin Bank
Established in 1950, Hamamatsu Iwata Shinkin Bank is ashinkin bank headquartered in Naka-ku of Hamamatsu City in
Shizuoka Prefecture. With western Shizuoka Prefecture,
centering on Hamamatsu, as its business area, Hamamatsu
Iwata Shinkin Bank ranks number one in terms of the volume ofdeposits and loans among the ­nine shinkin banks within
Shizuoka Prefecture. Western Shizuoka Prefecture is situated in
the geographic center of Japan and is noted for its mild climate,
attributes that have helped spur the development of a diverse
range of industries in the region over many years. Renowned as

the birthplace of such leading companies as Suzuki Motor
Corporation, Yamaha Corporation and Honda Motor Co., Ltd.,
this region has witnessed the development of such industries
as the automobile, musical instruments and machinery andmetals industries, and has supported Japan’s economy as amanufacturing hub. Hamamatsu, the location of our Head
Office, is also home to numerous manufacturing plants and has
attracted a large number of expat workers from overseas
countries, which gives the city a rich international flavor.

Outline of Hamamatsu Iwata Shinkin Bank (As of March 31, 2023)
Head Office: 114-1 Motoshiro-cho, Naka-ku, Hamamatsu,
Shizuoka 430-0946, Japan
Established: April 10, 1950
Deposits:¥2,752 billion
		 (including certificates of deposit)
Loans and Bills Discounted: ¥1,316 billion
Share Capital: ¥2.28 billion (120,665 members)

Business Region:
Shizuoka Prefecture
Hamamatsu City, Iwata City, Fukuroi City, Kosai City, Kakegawa City,
Omaezaki City, Kikugawa City, Makinohara City, Shimada City
(Kawane-cho is excluded), Shuchi-gun,
Yoshida-cho (Haibara-gun)
Aichi Prefecture
Toyohashi City, Kitashitara-gun(Shitara-cho is excluded)

Number of Employees:
Hamamatsu Iwata Shinkin Bank (non-consolidated): 1,677
Hamamatsu Iwata Shinkin Bank Group (total): 1,757
Number of Branches:
87 branches and 56 external ATM corners

Overseas Office:Bangkok Representative
OfficePrincipal Business Operations:
Deposits, loans, investments in marketable securities, domestic
exchange, foreign exchange, corporate bonds underwriting andregistration, incidental services

Kyoto
Shizuoka Prefecture

Tokyo
NagoyaHamamatsu
OsakaManagement Philosophy
The Management Philosophy clearly states the core values of Hamamatsu Iwata Shinkin Bank. The philosophy, declared bothinternally and externally, represents the Bank’s missions and business objectives and serves as action guidelines for our
employees and directors. We have formulated the Management Philosophy so that all employees and directors fully understandits intent and act toward its realization.

For customers
We walk side by side with customers towarda bright future, regarding their happinessas our own happiness.

For local communities
We create new value and contribute tocommunity vitalization.

Management
Philosophy
For employees anddirectors

We continue to spur change and take on challenges
in seeking to become a vibrant organization.

1

Social responsibilities(CSR, the SDGs and ESG)

We undertake fair and sound management
and help to create a sustainable society.

HAMAMATSU IWATA SHINKIN BANK Annual Report 2023

What Is the Shinkin Bank?
The shinkin bank is a financial institution that operates within alimited area and serves local residents and small- and mediumsized enterprises in the area. Unlike a commercial bank, which
is a joint stock company, it is a cooperative financial institution
operating with capital contributions from its members andunder the fundamental principle of being not-for-profit and providing mutual cooperation and solidarity.
Working closely with local communities and acting first andforemost for the promotion of regional development is what theshinkin bank does and our raison d’etre.

About Shinkin Central Bank
Shinkin Central Bank (SCB), established in 1950, is a cooperative financial
institution serving as the central bank for shinkin banks in Japan. Its namewas changed from the Zenshinren Bank to Shinkin Central Bank on October
1, 2000, and its preferred shares were listed on the Tokyo Stock Exchange on
December 22 of the same year.
SCB is one of the largest and healthiest financial institutions in Japan, withtotal assets amounting to ¥45.9 trillion, the capital adequacy ratio (non-consolidated, domestic standard) standing at 22.40% and the ratio of bad loans
standing at 0.22%. It is also one of the few financial institutions to issue
debentures. SCB works closely together with its member shinkin banks whileassuming three roles, specifically as the central bank of shinkin banks, as an
institutional investor and as a regional financial institution.

■ Corporate Data of Shinkin Central Bank

* Total assets, the capital adequacy ratio (non-consolidated) and the ratio of bad loans are
as of March 31, 2023.

* Including Shinkin International Ltd.

Name

Shinkin Central Bank

Established

June 1, 1950

Number of Employees and Full-Time 1,200 (including 13 full-time
Directors
directors)
Network

Domestic: 12; Overseas: 6*

Total Assets¥45,924.7 billion

Paid-in Capital¥690.9 billion

Capital Adequacy Ratio

22.40% (non-consolidated,
domestic standard)

Number of Member Shinkin Banks254(As of March 31, 2023)

Overseas Business Support Services
Overseas Business Support Center

Bangkok Representative Office

The Overseas Business Support Center collaborates with suchexternal support organizations as the Japan External Trade Organization (JETRO), local governments and Shinkin Central Bank
(SCB) to offer overseas business support services
matched to customer needs.
Our service lineup includes
providing information on local
business and other conditions
and assisting in the formulation of plans for setting up
operations overseas.

In January 2014, Hamamatsu Iwata Shinkin Bank opened a representative office in Bangkok, Thailand, a city expected to serve
as a business hub in Asia. The office provides various support
services, including providing
information on Thailand andneighboring countries, assisting with site visits and providing referrals to local experts
and supporting organizations.

With the COVID-19 pandemic subsiding, overseas business trips of employees havebeen resumed.

Number of support cases for overseas businessadvancement and trade: 231

Bangkok Representative Office
Address: 19th Floor, 1901, Athenee Tower, 63 Wireless Road,
Lumpini, Pathumwan, Bangkok 10330, Thailand
TEL: +66-(0)2-168-8303 FAX: +66-(0)2-168-8305

Bangkok Representative Office Location
Skytrain (BTS

Hamamatsu Iwata Shinkin Bank’s Network in Asia
Partner bank:
State Bank of India) SilomLine

Chit Lom Sta.

PhloenChit Sta

SCB: Shanghai
Representative Office

19F, Athenee Tower
Royal Bangkok
Sports Club Racetrack

SCB: Hong Kong
Representative OfficeRoad

Partner bank: Maybank Indonesia
SCB: Temporary assignment
to Maybank Indonesia(As of June 30, 2023)

Lumphini Park
Japanese Embassy

Sala

Daen

.
g Sta

Silo

mS

ta.
Lum

phin

i Sta

.

Mahanakhon
Chalermpre
Ex ssway

Partner bank:
Metrobank of Philippines

Japanese
Chamber ofCommerce

Road

SCB: Shinkin Singapore Pte. Ltd.

SCB: Temporary assignment to Bankfor Investment and Development in
Vietnam, stationed in Ho Chi Minh

Wireless

Hamamatsu Iwata Shinkin Bank
Overseas Business Support Center

Ratchadamri Sta.

damri

Hamamatsu Iwata Shinkin Bank:
Bangkok Representative OfficePartner bank:Vietcombank

Racha

SCB:Bangkok Representative
OfficeTemporary assignment to
Bangkok Bank.

2

HAMAMATSU IWATA SHINKIN BANK Annual Report 2023

Hamamatsu Iwata Shinkin Bank Corporate History
The Hamamatsu Shinkin Bank (Hamashin) Corporate History

The Iwata Shinkin Bank (Iwashin) Corporate History

April 1950

Hamamatsu Credit Association established in accordancewith the Small- and Medium-Sized Enterprise Cooperatives
Act

April 1950

Iwata Credit Association established in accordance with the
Small- and Medium-Sized Enterprise Cooperatives Act

May 1950

May 1950

Head Office opened in Renjaku-cho (near the present
Renjaku post office) and business commenced

Head Office and Mitsuke Branch opened in Nakaizumi and
Mitsuke, respectively, in Iwata City

November 1951

November 1951

Reorganized as a shinkin bank and became Hamamatsu
Shinkin Bank along with the enforcement of the Shinkin Bank
Act

Reorganized as a shinkin bank and became Iwata Shinkin
Bank along with the enforcement of the Shinkin Bank Act

May 1955

Head Office newly constructed in front of Iwata Station

February 1963

Business region expanded to Toei-cho, Toyone-mura,Tomiyama-mura and Tsugu-mura in Kitashitara-gun, Aichi
Prefecture

August 1966

Business region expanded to Hamamatsu City and Kamimura in Hamana-gun

December 1952

Head Office moved to Tenma-cho (location of the current
Tenma-cho Branch)

March 1962

Established the Hamamatsu Shinkin Bank Basic Policies

October 1968

Computers introduced and offline processing begins

October 1969

Head Office moved to newly constructed building in
Motoshiro-cho

May 1968

Computers introduced and a centralized business processing
system established

December 1974

Deposits reach ¥100.0 billion

November 1971

Computer Center newly constructed

October 1977

Operation Center moved to newly constructed building

April 1975

Online deposit processing started among all branches

October 1981

Third online system goes into operation and installation of
automated teller machines (ATMs) commenced

August 1979

Deposits reach ¥100.0 billion

June 1987

Hamashin Recreation Center completed

November 1986

Operation Center moved to newly constructed building

October 1989

Deposits reach ¥500.0 billion

June 1995

Iwashin Consultation Center opened

April 1992

Hamashin Consultation Plaza opened in Nakazawa-cho as a
specialized consultation counter

January 1997

Held a corporate image (CI) presentation meeting / logo markestablishedMay 1997

Hamashin website established

September 1997

Young Business Managers’ Association Success 21
established

August 1998

Internet banking (home banking/firm banking) transactionscommenced

January 1999

Handling of fund transfers over the Internet started

December 1999

Deposits reach ¥1,000.0 billion

December 2001

Deposits reach ¥500.0 billion

April 2000

Marked the 50th anniversary of our establishment

May 2003

Became a member of the Tokai Region Shinkin Joint
Business Center

April 2006

Established the Hamamatsu Shinkin Bank Basic Principles(revised version of the Basic Policies established in 1962)

April 2004

Operations using a mobile banking vehicle launched for the
first time among shinkin banks

July 2007

Held the 1st Hamashin Business Matching Fair

May 2005

Held the First Iwashin Ai Ai Concert

October 2007

Established the Shizuoka Prefecture Western Region Shinkin
Economic Research Institute jointly with Enshu Shinkin Bank

June 2010

Held the First Seminar on Brazil’s Economy

November 2008

Held the 1st Sanen-nanshin Shinkin Summit and the Sanennanshin Shinkin Product Exhibition

December 2010

Publication of i Zoom, Iwashin’s magazine to discoverregional attractiveness, started

January 2009

Became a member of the Tokai Region Shinkin Joint
Business Center and online system modified

May 2014

Iwashin’s intellectual property study group called i Cube
established

April 2010

Marked the 60th anniversary of our establishment

May 2015

Regional Revitalization Strategy Promotion Desk established

January 2014

Opened Bangkok Representative Office, the first overseas
officeApril 2016

Iwashin Business Start-up Support Desk established

December 2016

Deposits reach ¥700.0 billion

September 2017

Basic merger agreement concluded

October 2018

Logo mark and corporate message announced

Hamamatsu Iwata Shinkin Bank Corporate History

3

January 2019

Hamamatsu Shinkin Bank get merged with Iwata Shinkin Bank and formed "Hamamatsu Iwata Shinkin Bank."

April 2020

Celebrated its 70th anniversary

June 2020

Innovation Hub / Co-working Space “FUSE” has started its business

October 2022

New head office building has started its businessHAMAMATSU IWATA SHINKIN BANK Annual Report 2023

Organization Chart

As of August 1, 2023

Internal Audit Division
Strategic Planning Division
Digital Promotion Division

General Planning Department
IT Strategic Planning Office
Accounting Department
Service Planning Department
Digital Operations Department
Legal Risk Management Department

Risk Management Division

Risk Management Department
AML Department
General Affairs Department

Board of Directors
General Members’ Meeting

General Affairs Division

Secretarial Office

President

Human Resource Department

Senior Managing Director

HR Division

Managing Director
Board of Corporate Auditors
Corporate Auditor

Property Administration Department

Chairman

Mental Health Consultation Office

Career Development Department
Diversity Promotion Department

Director
Treasury & Securities Division

Management Committee

Operations Division
Committees and others

Systems Division
SDGs Promotion Division

Treasury & Securities Department
Fund & Securities Administration Department
Operations Department Ⅰ
Operations Department Ⅱ
Planning & Development Department
Operation & Administration Department
Community Contributions Department
SDGs Planning Department
Branch Business Support OfficeBusiness Management Division

Business Planning Department
Customer Service Department
New Business Creation Office
Personal Support Department

Solutions Support Division

Regional Business Development Department
International Department
Consultation and Support Plaza
BranchCredit Supervision DivisionCorporate Credit Department

Bangkok Representative Office
Customer Support Desk
Liaison Desk

Personal Credit Department
Credit Monitoring Department

Business Support Division

Business Support Department
Credit Assessment Department
Business Operations Department

Operations Support Division

Loan Operations Department
Custody Assets Management Department

Board of Directors and Corporate Auditors
Chairman
Kenichiro Mimuro
President
Hirohisa Takayanagi
Senior Managing Director Seidai Hirai
Senior Managing Director Hisao Miwa
Managing Director
Kazuhiro Hashishita
Managing Director
Hiroyasu Hanba
Managing Director
Takahiko Shimizu
Managing Director
Shoji Sato
*1

*2

Director
Director
Director
Director
Director
Director
Director

Hiroaki Matsushima
Shinichi Horisaki*1
Takayasu Hashimoto
Shinji Takahashi
Mototaka Ikeno
Shinya Sawaki
Hideto Tago*1

Standing Corporate Auditor
Standing Corporate Auditor
Corporate Auditor
Corporate Auditor
Corporate Auditor

As of August 1, 2023

Michio Inagaki
Masayuki Sano
Kenichi Suzuki
Naojiro Suzuki
Naoko Tatsumi*2

 hinichi Horisaki and Hideto Tago are outside directors appointed as provided for in the Industrial Agreement on Measures to Improve the Functionality of General Members’ MeetingS
adopted within the shinkin bank industry.
Naoko Tatsumi is an outside corporate auditor appointed as provided for in Article 32-5 of the Shinkin Bank Act.

4

HAMAMATSU IWATA SHINKIN BANK Annual Report 2023

Business ResultsB alance of deposits (including certificates of deposit)
Millions of yen

3,000,000

2,649,192

2,000,000
2,500,000
2,500,000
2,500,000
2,500,000

2,649,192
2,649,192
2,649,192
2,649,192

2,703,817

2,703,817
2,703,817
2,703,817
2,703,817

2,752,208

Millionsof yenMillionsof yenMillions ofof yenyen
Millions

2,752,208
2,752,208
2,752,208
2,752,208

6,059

4,000
6,000
6,000
6,000
6,000

0 0
0
0

500,000
1,000,000
1,000,000
1,000,000
1,000,000

3,625

6,059
6,059
6,059
6,059

3,625
3,625
3,625
3,625

FY2021

FY2022

FY2021
FY2021
FY2021
FY2021

FY2022
FY2022
FY2022
FY2022Millionsof yenMillionsof yenMillions ofof yenyen
Millions

3,425

3,425
3,425
3,425
3,425

FY2023

FY2023
FY2023
FY2023
FY2023

Millions of yen

8,000

FY2021

FY2022

FY2023

FY2021
FY2021
FY2021
FY2021

FY2022
FY2022
FY2022
FY2022

FY2023
FY2023
FY2023
FY2023

B1,500,000
alance of loans and bills discounted

1,200,000
1,200,000
900,000
1,200,000
1,200,000

6,000

8,000
8,000
8,000
8,000

0
2,000
2,000
2,000
2,000

1,000,000
1,500,000
1,500,000
1,500,000
1,500,000

1,500,000
1,500,000
1,200,000
1,500,000
1,500,000■Net business profit

2,000
4,000
4,000
4,000
4,000

1,500,000
2,000,000
2,000,000
2,000,000
2,000,000

0 0
00We posted net income of ¥3.3 billion, and net business profit,
which is obtained through our main business, amounted toMillions of yen¥3.4 billion.
8,000

2,500,000
3,000,000
3,000,000
3,000,000
3,000,0000
500,000
500,000
500,000
500,000

Growth in profits

1,303,580

1,298,441

1,303,580
1,303,580
1,303,580
1,303,580

1,298,441
1,298,441
1,298,441
1,298,441

Millions of yen

Millionsof yenMillionsof yen1,316,674
Millions
Millions ofof yenyen

1,316,674
1,316,674
1,316,674
1,316,674■Ordinary profit
6,000Millionsof yenMillionsof yen6,242Millions ofof yenyen
Millions

8,000
8,000
8,000
8,000
4,000
6,000
6,000
6,000
6,000

6,242
6,242
6,242
6,242

3,144

3,245

3,144
3,144
3,144
3,144

3,245
3,245
3,245
3,245

FY2022

FY2023

FY2021
FY2021
FY2021
FY2021

FY2022
FY2022
FY2022
FY2022

FY2023
FY2023
FY2023
FY2023

2,000
4,000
4,000
4,000
4,000
0
2,000
2,000
2,000
2,000
0 0
0
0

FY2021Millions of yen

4,000

■Net income

2,000
3,000
3,000
3,000
3,000

600,000
600,000
300,000
600,000
600,000

1,000
2,000
2,000
2,000
2,000
300,000
300,000
300,000 0
300,000

0 0
0
0

5

3,308

3,000
4,000
4,000
4,000
4,000

900,000
900,000
600,000
900,000
900,000

FY2021

FY2022

FY2023

FY2021
FY2021
FY2021
FY2021

FY2022
FY2022
FY2022
FY2022

FY2023
FY2023
FY2023
FY2023

0
1,000
1,000
1,000
1,000
0 0
0
0

Millionsof yenMillionsof yenMillions ofof yenyen
Millions

2,153

2,153
2,153
2,153
2,153

2,038

3,308
3,308
3,308
3,308

2,038
2,038
2,038
2,038

FY2021

FY2021

FY2023

FY2021
FY2021
FY2021
FY2021

FY2021
FY2021
FY2021
FY2021

FY2023
FY2023
FY2023
FY2023

HAMAMATSU IWATA SHINKIN BANK Annual Report 2023

Non-Consolidated Capital Adequacy Ratio
Our non-consolidated capital adequacy ratio was 13.68% as ofthe end of March 2023, which markedly surpassed 4.00% of
the domestic standard of financial institutions operating inJapan and signifies sound management. Soundness is also
evidenced by the majority of shareholders’ equity comprised ofa reserve for retained earnings from profits.

Non-consolidated
capital adequacy
ratio (%)

■ ■ Shareholders’ equity

Non-consolidated capital adequacy ratio

174,101

175,359

178,091

13.89%

13.83%

13.68%

Shareholders’ equity(Millions of yen)

15.00

150,000

12.00

120,000

9.00

Capital adequacy ratio

90,000

6.00

The capital adequacy ratio indicates the percentage of capital among total credit risk
assets and is a representative indicator of factors that include the security andsoundness of management as well as corporate vitality (resistance to risk). The
capital adequacy ratio serves as the benchmark for the Financial Services Agency(FSA) to make official announcements including orders to undertake business
improvement initiatives or suspend business.

3.00

60,000
Domestic
standard
4.00%

030,000

FY2021

FY20220

FY2023

Hamamatsu Iwata Shinkin Bank’s Ratings
We also acquired an upper rank “A” in issuer ratings for fiscal
2023 from Rating and Investment Information, Inc. (R&I), which
is a rating institution. The current rank was received in recognition of our enhanced shareholders’ equity, financial stability,
finely tuned customer response capabilities and other relevant
aspects.

R&I Rating Symbols and Definitions（Issuer Rating）
Highest creditworthiness supported by many excellent factors.
Very high creditworthiness supported by some excellent factors.
High creditworthiness supported by a few excellent factors.
Creditworthiness is sufficient, though some factors require attention
in times of major environmental changes.
Creditworthiness is sufficient for the time being, though some factors
require due attention in times of environmental changes.

Ratings

Creditworthiness is questionable and some factors require constant attention.

Ratings are carried out by rating institutions as a means of ranking whether or not
the payment of principal and interest of bonds and deposits are made to investors
and/or depositors according to respective agreements or to rank the level of security
and credit rating of a company from a fair standpoint.

An obligation is in default or likely to default.
The obligation in default may not be recovered in full.
An obligation is in default or highly likely to default.
The obligation in default may only be partially recovered.

D

An obligation is in default and may hardly be recovered.

Risk-Monitored Loans for Fiscal 2023
In the fiscal year ended March 31, 2023, loans subject to mandatory disclosure based on the Shinkin Bank Act and the Financial
Reconstruction Act decreased 7,128 million yen compared to the previous fiscal year, to 79,630 million yen, and its ratio to total
credit balance came to 5.91%.
The coverage ratio for the said loans based on guarantees, collateral, etc. was 85.4%.
Going forward, we will ensure the soundness of assets by reinforcing risk management systems and contribute to wide-area
regional development mainly by proactively providing management consultation to client companies and supporting the borrowers’
recovery from financial difficulties, as part of our responsibilities as a regional financial institution.
Status of coverage and provision for loans subject to mandatory disclosure based on the
Shinkin Bank Act (risk-monitored loan) and the Financial Reconstruction Act
Unit: Millions of yen

Balance of loans
subject to mandatory
disclosure (a)Category

Bankrupt and quasi-bankrupt loans
Delinquent loans
Substandard loans
Loans past due three months or more
Restructured loans
Subtotal (A)Normal loans (B)Total credit balance (A)+(B)

Amount ofcoverage (b)Estimated collectible accounts
receivable amount based oncollateral, guarantee, etc. (c)Bad debt reserves (d)Coverage ratio (b)/(a)Provision ratio (d)/(a-c)

FY2021

3,782

3,782

1,444

2,337

100.0%

100.0%FY2022

2,241

2,241

1,138

1,103

100.0%

100.0%FY2021

76,921

69,20655,344

13,861

90.0%

64.2%

FY2022

69,79062,54250,801

11,740

89.6%

61.8%

FY2021

6,055

2,512

1,722

789

41.5%

18.2%

FY2022

7,598

3,201

2,340

861

42.1%

16.4%

FY2021

—

—

—

—

—

—

FY202255

5—100.0%

100.0%FY2021

6,055

2,512

1,722

789

41.5%

18.2%

FY2022

7,593

3,196

2,335

861

42.1%

16.4%

FY202186,75975,50058,512

16,988

87.0%

60.1%

FY2022

79,63067,98554,28013,704

85.4%

54.1%

FY2021

1,243,170

FY2022

1,266,774

FY2021

1,329,930

FY2022

1,346,405

6

HAMAMATSU IWATA SHINKIN BANK Annual Report 2023

Non-Consolidated Balance Sheets
Millions of yen (Note 1)

As of March 31, 2023 and 2022

2023

Thousands of U.S. dollars (Note 2)

2023

2022

Assets552,159¥ 617,512

Call Loans

—

122

—

Monetary Claims Bought

255

324

1,909

Money Held in Trusts

—

—

—

Securities

1,044,142

1,054,759

7,818,945

Loans and Bills Discounted

1,316,674

1,298,441

9,859,772

481

453

3,601

Other Assets

16,39015,332

122,734

Fixed Assets

27,36924,135204,949

Prepaid Pension Cost

2,292

2,035

17,163

Deferred Tax Assets

8,489

8,413

63,568Customer’s Liabilities for Acceptances and Guarantees

26,61028,719199,266

Reserve for Possible Loan Losses(16,681)(20,318)(124,913)¥ 2,978,185¥ 3,029,930$ 22,301,819¥ 2,749,788¥ 2,700,737$ 20,591,493

2,420

3,079

18,121

3

14

22

Other Liabilities

56,726

129,519424,786

Reserve for Employee Bonuses

1,635

1,622

12,243

287

270

2,149

1,126

1,167

8,431

—

—

—

26,61028,719199,266¥ 2,838,597¥ 2,865,131$ 21,256,529

¥

¥

$

Cash and Due from Banks¥

Foreign Exchanges

Total Assets$

4,134,783

Liabilities and Net Assets
Liabilities
Deposits
Certificates of Deposit
Foreign Exchanges

Reserve for Employee Retirement Benefits
Other Reserves
Deferred Tax Liabilities
Acceptances and Guarantees
Total Liabilities
Net Assets
Share Capital

2,286

17,118Legal Reserve

2,315

2,330

17,335Special Reserve

166,973

164,974

1,250,359

4,597

3,387

34,424

Total Members’ Equity

176,172

173,008

1,319,245

Net Unrealized Gains on Available-for-Sale Securities(36,584)(8,209)(273,955)

Unappropriated Retained Earnings

Total Net Assets¥

139,588

Total Liabilities and Net Assets¥ 2,978,185¥

164,799¥ 3,029,930

Notes 1. Amounts of less than one million yen have been omitted.
		
2. U.S. dollars amounts are converted for convenience only at ¥133.54 per U.S.$1.00, the rate prevailing on March 31, 2023.

7

2,315

$

1,045,289$ 22,301,819

HAMAMATSU IWATA SHINKIN BANK Annual Report 2023

Non-Consolidated Statements of Income
Millions of yen (Note 1)

As of March 31, 2023 and 2022

2023

Thousands of U.S. dollars (Note 2)

2023

2022

IncomeInterest on:¥

22,461¥

24,438$168,197

Loans and Bills Discounted

16,042

16,326

120,130

Securities

5,424

7,116

40,618Others

994

995

7,447

Fees and Commissions

4,148

3,852

31,063

Other Income

5,171

2,486

38,723

Total Income¥

31,780¥30,777$

237,984

¥

188

¥

194

$

1,408

Expenses
Interest on:
Deposits

164

172

1,232

Other

23

22

176

Fees and Commissions

2,566

2,536

19,218General and Administrative Expenses

21,14121,800158,313

Other Expenses

2,930

3,195

21,942

Total Expenses¥

Income Before Income Taxes

26,825¥27,726$200,883

4,954

3,051

37,101

Current

131

1,279

983

Deferred

1,514

(266)

11,339

Income Taxes

Net Income

¥

3,308

¥

2,038

$

24,778Unappropriated Retained Earnings
Millions of yen (Note 1)

As of March 31, 2023 and 2022
At Beginning of the Year

2023¥

Reversal of Reserve
Appropriation
Transfer to Legal Reserve
Cash Dividends for Member Common Share
Special Reserve
At End of the Year¥

Thousands of U.S. dollars (Note 2)

2023

2022
4,597

¥

3,387

$

34,425

28

15

215

3,614

2,115

27,064

0

0

0

114

115

854

3,500

2,000

26,209

1,011

¥

1,287

$

7,577

Notes 1. Amounts of less than one million yen have been omitted.
		
2. U.S. dollars amounts are converted for convenience only at ¥133.54 per U.S.$1.00, the rate prevailing on March 31, 2023.

8

HAMAMATSU IWATA SHINKIN BANK Annual Report 2023

Consolidated Balance Sheets
Millions of yen (Note 1)

As of March 31, 2023 and 2022

2023

Thousands of U.S. dollars (Note 2)

2023

2022

AssetsCash and Due from Banks¥

552,766¥

618,114$

4,139,329

Call Loans

—

122

—

Monetary Claims Bought

255

324

1,909

Monetary Held in Trusts

—

—

—

Securities

1,043,837

1,054,453

7,816,661

Loans and Bills Discounted

1,314,706

1,296,512

9,845,035

481

453

3,601

Other Assets

30,44728,581

227,999

Fixed Assets

27,22824,037

203,893

Prepaid Pension Cost

2,292

2,035

17,163

Deferred Tax Assets

8,649

8,589

64,767

Customers’ Liabilities for Acceptances and Guarantees

26,61028,714

199,266

Reserve for Possible Loan Losses(17,040)(20,712)(127,602)

Foreign Exchanges

Total Assets¥

2,990,233¥

3,041,229$

22,392,039¥

2,745,880¥

2,696,993$

20,562,228

Liabilities and Net Assets
Liabilities
Deposits
Certificates of Deposit

2,420

3,079

18,121Other Liabilities

67,732

139,835

507,203

3

14

22

1,673

1,660

12,528

363

348

2,718

1,142

1,182

8,551

—

—

—

26,61028,714

199,266

Foreign Exchanges
Reserve for Employee Bonuses
Reserve for Employee Retirement Benefits
Other Reserves
Deferred Tax Liabilities
Acceptances and Guarantees
Total Liabilities¥

2,845,826¥

2,871,830$

21,310,663

¥

2,286

¥

2,315

$

17,118Net Assets
Share Capital
Retained Earnings

178,704

175,292

1,338,205

Total Members’ Equity

180,991

177,607

1,355,331

Net Unrealized Gains on Available-for-Sale Securities(36,584)(8,209)(273,955)———

Minority Interests
Total Net Assets¥

144,407¥

169,398$

1,081,376

Total Liabilities and Net Assets¥

2,990,233¥

3,041,229$

22,392,039

Notes 1. Amounts of less than one million yen have been omitted.
		
2. U.S. dollars amounts are converted for convenience only at ¥133.54 per U.S.$1.00, the rate prevailing on March 31, 2023.

9

HAMAMATSU IWATA SHINKIN BANK Annual Report 2023

Consolidated Statements of Income
Millions of yen (Note 1)

As of March 31, 2023 and 2022

2023

Thousands of U.S. dollars (Note 2)

2023

2022

IncomeOperating Income¥

22,241¥

24,277$

166,556

Loans and Bills Discounted

16,035

16,318120,077

Securities

5,212

6,962

39,031Others

994

995

7,447

Fees and Commissions

4,274

3,985

32,007

Other Income

11,326

7,437

84,818

Total Income¥

37,842¥35,700$283,382

¥

188

¥

194

$

1,408

Expenses
Operating Expenses
Deposits

164

172

1,232

Others

23

22

176

Fees and Commissions

2,323

2,307

17,397

General and Administrative Expenses

20,956

21,567

156,931

Other Expenses

8,970

8,305

67,176

Total Expenses¥

32,438¥32,374$242,914

Income Before Income Taxes

¥

5,404

¥

3,325

$

40,467

Income Taxes
Current

344

1,477

2,582

Deferred

1,530

(294)

11,464000Minority Interests in Income
Net Income

¥

3,528

¥

2,143

$

26,420Retained Earnings
Millions of yen (Note 1)

As of March 31, 2023 and 2022

2023

Thousands of U.S. dollars (Note 2)

2023

2022

At Beginning of the Year¥ 174,857¥ 172,830$ 1,309,400

Changes During the Year

0

0

0

3,528

2,143

26,420

115

116

866

Increase by Merger

0

0

—

At End of the Year¥ 178,269¥ 174,857$ 1,334,955

Net Income
Cash Dividends for Member Common Share

Notes 1. Amounts of less than one million yen have been omitted.
		
2. U.S. dollars amounts are converted for convenience only at ¥133.54 per U.S.$1.00, the rate prevailing on March 31, 2023.

10

114-1 Motoshiro-cho, Naka-ku, Hamamatsu, Shizuoka 430-0946, Japan
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