Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Six Months Ended September 30, 2023
(Based on Japanese GAAP)
November 9, 2023
Company name:
The Musashino Bank, Ltd.
Stock exchange listing: Tokyo
Stock code:
Representative:

8336
President

URL

https://www.musashinobank.co.jp
Kazumasa Nagahori

Inquiries:

Executive Officer and General Manager ofToshitaka Matsuura
General Planning and Management Division

Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:

November 28, 2023
December 8, 2023

Trading accounts:
Preparation of supplementary material on quarterly financial results:

No
Yes

Holding of quarterly financial results meeting:

No

TEL

048-641-6111(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the six months ended September 30, 2023 (from April 1, 2023 to September 30, 2023)
Percentages indicate year-on-year changes
Profit attributable toOrdinary income
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen%
40,904
4.0
8,005
11.4
6,045
14.6
39,296
12.0
7,184
(7.4)
5,272
5.7

(1) Consolidated operating results (cumulative)

Six months ended September 30, 2023
Six months ended September 30, 2022

Earnings per share

Diluted earnings per share

Yen
181.86
157.47Six months ended September 30, 2023
Six months ended September 30, 2022

Yen
181.84
157.41(2) Consolidated financial position
Total assets
As of September 30, 2023
As of March 31, 2023

Net assets

Millions of yen
5,328,917
5,327,096

Equity ratio

Millions of yen
256,717
252,917%
4.8
4.7

2. Cash dividends
Annual dividends per share

Year ended March 31, 2023
Year ending March 31, 2024

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––Yen
45.00
50.00

Yen–

Yen
50.00

Yen
95.00

–

50.00

100.00Year ending March 31, 2024 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)
Percentages indicate year-on-year changes
Profit attributable toOrdinary income
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen%
Yen
Full year
78,800(3.7)
15,9001.6
10,9000.3
329.501

4. Notes(1) Changes in significant subsidiaries during the six months ended September 30, 2023
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:

No
No

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of September 30, 2023

33,405,456 shares As of March 31, 2023

33,805,456 shares

Number of treasury shares at the end of the period
As of September 30, 2023

325,038 shares As of March 31, 2023348,853 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Six months ended September 30, 2023

33,243,087 shares Six months ended September 30, 2022

233,483,964 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2023

As of September 30, 2023

AssetsCash and due from banks

484,394

313,009

Monetary claims bought
Trading securities

839
7851
20

1,489
810,296

1,496
943,6633,909,853
7,257

3,947,027
4,524

Lease receivables and investments in leases
Other assets

17,46940,077

17,951
43,348

Tangible fixed assets
Intangible fixed assets

54,9994,941

54,878
4,935

Retirement benefit asset
Deferred tax assets

7,596
2,798

7,851
3,088

4,834
(19,756)

5,097(18,826)

5,327,096

5,328,917

Money held in trust
Securities
Loans and bills discounted
Foreign exchanges

Customers' liabilities for acceptances and guarantees
Allowance for loan losses
Total assets
Liabilities
Deposits

4,875,224

4,934,433

Negotiable certificates of deposit
Call money and bills sold16,07057,551

14,95041,284

Cash collateral received for securities lent
Borrowed money

10,63868,276

16,052
10,893Foreign exchanges
Borrowed money from trust account

390
7,756

193
8,042

Other liabilities
Provision for bonuses

24,2781,129

32,172
1,132

Provision for bonuses for directors (and other officers)
Retirement benefit liability

37
2,810

122,727

Provision for retirement benefits for directors (and other officers)
Provision for loss on interest repayment

3529

2833

Provision for reimbursement of deposits
Provision for point card certificates

142
110

142
119

Provision for contingent loss
Provision for share-based compensation

219
83

188
68

Deferred tax liabilities
Deferred tax liabilities for land revaluation

331
4,227

398
4,227

Acceptances and guarantees
Total liabilities

3

4,834

5,097

5,074,179

5,072,200

(Millions of yen)
As of March 31, 2023

As of September 30, 2023

Net assets
Share capital
Capital surplus

45,74338,35345,74338,350Retained earnings
Treasury shares

156,284(951)

159,640(789)

Total shareholders' equity

239,430

242,945

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

6,500(152)

4,086
2,472

Revaluation reserve for landRemeasurements of defined benefit plans

8,286(1,219)8,286(1,117)

Total accumulated other comprehensive income

13,415

13,727

38
33

8
35

252,917

256,717

5,327,096

5,328,917

Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

4Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)

Ordinary income
Interest income

Six months ended

Six months ended

September 30, 2022

September 30, 2023

39,296
20,76040,90423,45317,0183,313

18,423
4,816

Trust fees
Fees and commissions

33
7,414

15
7,305

Other ordinary income
Other income

4,488
6,598

3,128
7,002

32,112
1,096

32,8992,227Interest on deposits
Fees and commissions payments

182
1,861

287
1,707

Other ordinary expenses
General and administrative expenses

4,170
18,077

4,086
18,310

Other expenses

6,906

6,567

7,184

8,005

58

18

24
34

18
–

Profit before income taxes

7,125

7,987

Income taxes - current
Income taxes - deferred

1,878(27)2,159(219)

Total income taxes

1,850

1,939

Profit

5,274

6,047

Interest on loans and discounts
Interest and dividends on securities

Ordinary expenses
Interest expenses

Ordinary profit
Extraordinary losses
Loss on disposal of non-current assets
Impairment losses

Profit attributable to non-controlling interests
Profit attributable to owners of parent

512

5,272

6,045

Consolidated statements of comprehensive income (cumulative)(Millions of yen)

ProfitOther comprehensive income

Six months ended

Six months ended

September 30, 2022

September 30, 2023

5,274(5,296)

6,047
312

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges(7,712)
2,406(2,413)2,625

Remeasurements of defined benefit plans, net of tax

9101(22)6,360(23)16,3582Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests

6Consolidated statements of changes in equity
Six months ended September 30, 2022
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning ofperiod

45,743

CapitalsurplusRetainedearnings

38,353

Total
shareholders'equityTreasuryshares148,605(893)

231,809

Changes during period
Dividends of surplus(1,676)(1,676)

Profit attributable toowners of parent

5,272

5,272

Purchase of treasury
shares(70)(70)

Disposal of treasury
shares–1313

Cancellation of treasury
shares–––Transfer from retained
earnings to capital surplus–––

Net changes in items
other than shareholders'equityTotal changes during period
Balance at end of period

––

3,595

(56)

3,539

45,74338,353

152,201(949)

235,349

Accumulated other comprehensive income
Valuation
Deferred gains
difference onor losses onavailable-forhedges
sale securities
Balance at beginning ofperiod

10,476124

TotalRevaluation
reserve forland

Remeasurements

accumulatedof definedotherbenefit planscomprehensive

Shareacquisitionrights

Noncontrollinginterests

38

29

Total net
assetsincome

8,286

(210)

18,676

250,554

Changes during period
Dividends of surplus(1,676)

Profit attributable toowners of parent

5,272

Purchase of treasury
shares(70)

Disposal of treasury
shares13

Cancellation of treasury
shares–Transfer from retained
earnings to capital surplus–

Net changes in items
other than shareholders'equity(7,712)2,406–

9(5,296)–1(5,295)

Total changes during period(7,712)2,406–

9(5,296)–1(1,755)

Balance at end of period

2,763

2,530

8,286(200)

13,37938

31248,798

7Six months ended September 30, 2023
(Millions of yen)
Shareholders' equity
Share capitalBalance at beginning ofperiod

45,743

CapitalsurplusRetainedearnings

38,353

Treasuryshares156,284

(951)

Total
shareholders'equity239,430

Changes during period
Dividends of surplus(1,676)(1,676)

Profit attributable toowners of parent

6,045

6,045

Purchase of treasury
shares

(911)

(911)

255

58

Cancellation of treasury
shares(1,018)1,018–

Transfer from retained
earnings to capital surplus

1,012(1,012)

–

(2)

3,356

161

3,515

45,74338,350159,640(789)

242,945

Disposal of treasury
shares–Net changes in items
other than shareholders'equityTotal changes during period
Balance at end of period

Accumulated other comprehensive income
Valuation
Deferred gains
difference onor losses onavailable-forhedges
sale securities
Balance at beginning of
period

6,500

(152)

Total

Revaluation
reserve forland

Remeasurements

accumulatedof definedotherbenefit planscomprehensive

Shareacquisitionrights

Noncontrollinginterests

38

33

Total net
assetsincome8,286(1,219)13,415

252,917

Changes during period
Dividends of surplus(1,676)

Profit attributable toowners of parent

6,045

Purchase of treasury
shares(911)

Disposal of treasury
shares58

Cancellation of treasury
shares–Transfer from retained
earnings to capital surplus–

Net changes in items
other than shareholders'equity(2,413)

Total changes during period(2,413)

2,625–

Balance at end of period

4,086

2,472

8,286

2,625

–

101

8312

(30)

2284

101

312

(30)

2

3,799

(1,117)

13,727835

256,717