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 Year Ended March 31, 2024
(Based on Japanese GAAP)May 10, 2024
Company name:

The Musashino Bank, Ltd.

Stock exchange listing: Tokyo
Stock code:
8336
Representative:
Inquiries:

URL

https://www.musashinobank.co.jp

President
General Manager of General Planning andManagement Division
Scheduled date of ordinary general meeting of shareholders:Kazumasa Nagahori
Katsuya Isonaka

TEL

048-641-6111

June 26, 2024

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

June 26, 2024
June 27, 2024

Trading accounts:
Preparation of supplementary material on financial results:

No
Yes

Holding of financial results meeting:Yes(for institutional investors and analysts)(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the year ended March 31, 2024 (from April 1, 2023 to March 31, 2024)(1) Consolidated operating results
Percentages indicate year-on-year changes
Profit attributable toOrdinary income
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen%
Year ended March 31, 2024
81,068(1.0)
16,261
4.0
11,264
3.6
Year ended March 31, 2023
81,901
15.0
15,63415.8
10,865
20.7
Profit attributable toOrdinary profit/total
owners ofassets
parent/equity
Yen%%
339.654.2
0.3
324.494.3
0.2

Diluted earnings pershareEarnings per shareYen
339.68324.62

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

Ordinary
profit/ordinary
income%20.0
19.0(2) Consolidated financial position
Total assets
As of March 31, 2024
As of March 31, 2023

Net assets

Equity ratio

Millions of yen
5,404,015
5,327,096

Millions of yen
274,138
252,917

Cash flows fromoperating activities
Millions of yen(29,676)(225,615)

Cash flows frominvesting activities
Millions of yen(219,482)(77,621)

Net assets per share%
5.0
4.7

Yen
8,285.94
7,557.42(3) Consolidated cash flows

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

Cash flows fromCash and cash equivalents
at end of period
financing activities
Millions of yen
Millions of yen(4,191)
230,299(3,244)
483,649

2. Cash dividends
Annual dividends per share
1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end

Year ended March 31, 2023
Year ended March 31, 2024
Year ending March 31, 2025
(Forecast)of dividends
Total cash
Dividend payout Ratio
to net assets
dividends (Total) ratio (Consolidated) (Consolidated)

Total

Yen

Yen

Yen

Yen

Yen

Millions of yen%%

––

45.00
50.00

––50.00
55.00

95.00
105.00

3,185
3,480

29.2
30.9

1.2
1.3

–55.00–55.00110.00129.8

3. Forecast of consolidated financial results for the year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)
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
Six months ending
September 30, 2024
Full year

39,100

(4.4)

8,900

11.1

6,500

7.5

196.5078,000(3.7)

17,300

6.3

12,2008.3

368.81

4. Notes(1) Changes in significant subsidiaries during the year ended March 31, 2024
(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:No
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

No
No

Restatement of prior period financial statements:

No(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2024

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 March 31, 2024

326,377 shares As of March 31, 2023

348,853 shares

33,161,411 shares Year ended March 31, 2023

33,470,555 shares

Average number of shares during the period
Year ended March 31, 20242

Consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 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, net
Land
Leased assets, net
Other tangible fixed assets
Intangible fixed assets
SoftwareLeased assets
Other intangible fixed assets
Retirement benefit asset
Deferred tax assets
Customers' liabilities for acceptances andguarantees
Allowance for loan losses
Total assets
Liabilities
Deposits
Negotiable certificates of deposit
Call money and bills soldCash collateral received for securities lent
Borrowed money
Foreign exchanges
Borrowed money from trust account
Other liabilities
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Retirement benefit liability
Provision for retirement benefits for directors(and other officers)
Provision for loss on interest repayment
Provision for reimbursement of deposits
Provision for point card certificates
Provision for contingent loss
Provision for share-based compensation
Deferred tax liabilities
Deferred tax liabilities for land revaluation
Acceptances and guarantees
Total liabilities

3

As of March 31, 2024

484,394839
7
1,489
810,296
3,909,853
7,257
17,46940,07754,99926,64625,363
3
2,986
4,941
4,727
26
187
7,596
2,798

230,916759
6
1,492
1,045,742
3,995,006
4,659
19,21943,45754,65826,04725,364
–
3,246
4,872
4,678
6
187
14,381
809

4,834

5,119

(19,756)(17,086)

5,327,096

5,404,015

4,875,224
16,07057,551
10,63868,276390
7,756
24,2781,129

4,973,482
39,50039,518
10,955
12,380348
8,063
26,854
1,150

37

32

2,810

2,490

35

33

29
142
110
219
83
331
4,227
4,834

33
98
116
187
75
5,208
4,227
5,119

5,074,179

5,129,877

(Millions of yen)
As of March 31, 2023

As of March 31, 2024

Net assets
Share capital
Capital surplus

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

156,284(951)

163,202(793)

Total shareholders' equity

239,430

246,503

Valuation difference on available-for-salesecurities

6,500

14,060

Deferred gains or losses on hedges
Revaluation reserve for land

(152)
8,286

1,765
8,286

Remeasurements of defined benefit plans(1,219)

3,474

13,41527,58738
33

838

Total accumulated other comprehensive
incomeShare acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

4252,917

274,138

5,327,096

5,404,015

Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income(Millions of yen)
Fiscal year ended
March 31, 2023
Ordinary income

Fiscal year ended
March 31, 2024

81,901

81,06842,56934,832

46,932
36,830

7,066
(5)

9,708
(5)

0676

0398

Trust fees
Fees and commissions

63
14,93925
14,401Other ordinary income
Other income

11,10913,2185,470
14,239396
12,822632
13,607

66,266
3,113

64,807
4,621

420
2

612
2

1,671

2,771

325

848

39

38

Other interest expenses
Fees and commissions payments

654
4,041

348
3,841

Other ordinary expenses
General and administrative expenses

11,11635,886

7,983
36,278Other expenses
Provision of allowance for loan losses

12,108
1,149

12,081
671

10,958

11,40915,634

16,261

86

29

52
34

29
–

Profit before income taxes

15,54816,231

Income taxes - current
Income taxes - deferred

3,970
709

4,087874

Total income taxes

4,679

4,962

Profit10,868

11,26935

10,865

11,264

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

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 cash collateral received for securities
lentInterest on borrowings and rediscounts

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

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

5Consolidated statements of comprehensive income(Millions of yen)

ProfitOther comprehensive income

Fiscal year ended

Fiscal year ended

March 31, 2023

March 31, 2024
10,868(5,261)

11,26914,172

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges(3,975)
(276)

7,560
1,918

Remeasurements of defined benefit plans, net of tax(1,009)

4,693

5,607

25,442

5,603

25,43635

Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

6

Consolidated statements of changes in equity
Fiscal year ended March 31, 2023
(Millions of yen)
Shareholders' equity
Share
capitalBalance at beginningof period

Capitalsurplus45,743Retainedearnings

38,353

Treasuryshares148,605

(893)

Total
shareholders'equity231,809

Changes during
periodDividends ofsurplus
Profit attributableto owners of parent(3,185)(3,185)

10,865

10,865Purchase oftreasury shares

(71)

(71)

Disposal oftreasury shares

(0)

13

13

Cancellation oftreasury shares–––

Transfer fromretained earnings tocapital surplus

–––

–

(0)

7,679

(58)

7,620

45,74338,353

156,284(951)

239,430

Net changes in
items other thanshareholders'equityTotal changes during
periodBalance at end ofperiod7

Accumulated other comprehensive income

Balance at beginningof period

Valuationdifference

Deferredonavailable-gains orlosses on

for-salesecurities

hedges

10,476124

Total

Revaluation Remeasurements accumulated
reserve forlandof definedotherbenefit planscomprehensive

Shareacquisition

Noncontrollingrightsinterests

Total net
assetsincome

8,286

(210)

18,67638

29

250,554

Changes during
periodDividends of(3,185)surplusProfit attributableto owners of parent

10,865Purchase oftreasury shares(71)

Disposal of13treasury shares
Cancellation of–treasury shares
Transfer fromretained earnings to–capital surplus
Net changes in
items other thanshareholders'(3,975)(276)–(1,009)(5,261)–3(5,257)

Total changes during
period(3,975)(276)–(1,009)(5,261)

–

3

2,363

Balance at end ofperiod

6,500

(152)

8,286

(1,219)13,41538

33

252,917

equity8Fiscal year ended March 31, 2024
(Millions of yen)
Shareholders' equity

Balance at beginningof period

ShareCapital

Retained

Treasury

capitalsurplusearnings

shares45,74338,353

156,284

(951)

Total
shareholders'equity239,430

Changes during
periodDividends ofsurplus
Profit attributableto owners of parent(3,333)(3,333)

11,264

11,264Purchase oftreasury shares
Disposal oftreasury shares
Cancellation oftreasury shares
Transfer fromretained earnings to(915)

(915)

255

58

(1,018)

1,018

–

1,012

(1,012)

––

(2)

6,917

157

7,072

45,74338,350163,202(793)

246,503

capital surplus
Net changes in
items other thanshareholders'equityTotal changes during
periodBalance at end ofperiod9Accumulated other comprehensive income

Balance at beginningof period

Valuationdifference

Deferredonavailable-gains orlosses on

for-salesecurities

hedges

6,500

(152)

Total

Revaluation Remeasurements accumulated
reserve forland

of definedotherbenefit planscomprehensive

Shareacquisition

Noncontrollingrightsinterests

Total net
assetsincome8,286(1,219)13,41538

33

252,917

Changes during
periodDividends of(3,333)surplusProfit attributableto owners of parent

11,264Purchase oftreasury shares(915)

Disposal of58

treasury shares
Cancellation of–treasury shares
Transfer fromretained earnings to–capital surplus
Net changes in
items other thanshareholders'

7,560

1,918

–

4,693

14,172(30)

514,147

Total changes during
period

7,560

1,918

–

4,693

14,172(30)

521,220

Balance at end of
period14,060

1,765

8,286

3,474

27,5878

38274,138

equity10Consolidated statements of cash flows(Millions of yen)

Cash flows from operating activities
Profit before income taxes

Fiscal year ended

Fiscal year ended

March 31, 2023

March 31, 2024
15,54816,231

3,730
34

3,930
–

(8)

(8)

(1,435)(9)(2,670)
21

0

(4)

(541)
(166)

(503)
(144)

8

(1)

Increase (decrease) in provision for loss on interest repayment
Increase (decrease) in provision for reimbursement of deposits

(15)
(53)

3(44)

Increase (decrease) in provision for point card certificates
Increase (decrease) in provision for contingent loss

1(87)

5(31)

3(42,569)(8)(46,932)

Interest expenses
Loss (gain) related to securities

3,113
11

4,621
671

Loss (gain) on money held in trust
Foreign exchange losses (gains)

7(3,456)

1(9,155)52
44

29
1Net decrease (increase) in loans and bills discounted
Net increase (decrease) in deposits(68,215)
117,413(85,153)
98,258Net increase (decrease) in negotiable certificates of deposit
Net increase (decrease) in borrowed money (excluding(7,220)

23,430(290,116)(55,896)

46

127

Depreciation
Impairment losses
Share of loss (profit) of entities accounted for using equity
methodIncrease (decrease) in allowance for loan losses
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for bonuses for directors (andother officers)
Decrease (increase) in retirement benefit asset
Increase (decrease) in retirement benefit liability
Increase (decrease) in provision for retirement benefits fordirectors (and other officers)

Increase (decrease) in provision for share-based compensation
Interest income

Loss (gain) on disposal of non-current assets
Net decrease (increase) in trading securities

subordinated borrowings)
Net decrease (increase) in due from banks (excluding duefrom Bank of Japan)
Net decrease (increase) in call loans

(22)

80

23,894(18,033)(6,837)316(3,556)

2,597

Net increase (decrease) in foreign exchanges - liabilities
Net increase (decrease) in borrowed money from trust account172
2,021(42)306Interest received
Interest paid41,955(2,804)45,508(4,604)

Other, net(2,258)1,000

Subtotal(221,315)(26,088)

4113

Net increase (decrease) in call money
Net increase (decrease) in cash collateral received forsecurities lent
Net decrease (increase) in foreign exchanges - assets

Income taxes refund
Income taxes paid
Net cash provided by (used in) operating activities

11(4,304)(3,701)(225,615)(29,676)(Millions of yen)

Cash flows from investing activities
Purchase of securities

Fiscal year ended

Fiscal year ended

March 31, 2023

March 31, 2024

(565,412)(623,345)

269,334
220,853

253,040
154,342

(8)
(892)

(10)
(1,743)Purchase of intangible assets
Payments for asset retirement obligations(1,433)(62)(1,667)(98)

Net cash provided by (used in) investing activities(77,621)(219,482)(3,185)(3,333)(71)
13(915)58(3,244)(4,191)

Net increase (decrease) in cash and cash equivalents(306,481)(253,350)

Cash and cash equivalents at beginning of period

790,130

483,649

Cash and cash equivalents at end of period

483,649

230,299

Proceeds from sale of securities
Proceeds from redemption of securities
Increase in money held in trust
Purchase of tangible fixed assets

Cash flows from financing activities
Dividends paid
Purchase of treasury shares
Proceeds from sale of treasury shares
Net cash provided by (used in) financing activities

12