(Translation for reference only)

May 10, 2024

Consolidated Financial Results
For the Fiscal Year ended in March 31, 2024
(Under Japanese GAAP)
Company name:
AIFUL Corporation
Stock Listing:Tokyo Stock Exchange
Stock Code:
8515
URL:
https://www.aiful.co.jp
Representative:
Mitsuhide Fukuda, President and Chief Executive Officer
For inquiry:
Kimihiko Yanagi, General Manager of Operation Management Department
Scheduled date of annual general meeting of shareholders: June 25, 2024
Scheduled date of submission of Securities report: June 26, 2024
Scheduled date of commencement of dividend payments: June 6, 2024
Supplementary materials for financial results: Yes
Earnings release conference: Yes (For financial analysts and institutional investors)

TEL (03) 4503 – 6050

I. Consolidated Financial Results for the Fiscal Year ended in March 31, 2024
(April 1, 2023 – March 31, 2024)(Amounts less than one million yen have been rounded down)

1.

Consolidated Operating Results(Millions of yen, Percentages indicate year-on-year changes)
Operating Revenue

Operating Profit

Ordinary Profit

Profit Attributable to
Owners of Parent

Fiscal year ended

March 31, 2024
163,10913.2%
21,064(11.2)%
22,067(9.7)%March 31, 2023
144,152
9.1%
23,724111.0%
24,42899.2%
Note:
Comprehensive income: For the Fiscal year ended(5.5)%March 31, 2024:
22,256 million yen
90.5%
March 31, 2023:
23,550 million yen
Net Income per
Share (Yen)

Diluted Net
Income per Share(Yen)

Profit toShareholders’Equity Ratio (%)

21,81822,343

Ordinary Profit toTotal Assets Ratio(%)(2.3)%
81.1%

Operating Profit toOperating Revenue
Ratio (%)

Fiscal year ended

March 31, 2024
45.10
–
11.7
1.9
March 31, 2023
46.19
–
13.5
2.4
Reference: Equity in earnings of affiliated companies: For the Fiscal year ended
March 31, 2024:
63 million yen
March 31, 2023:
184 million yen

2.

12.9
16.5

Consolidated Financial Position
Total Assets

Net Assets

Shareholders’ Equity
Ratio (%)

Net Assets per Share
(Yen)

As of

March 31, 2024
1,266,374
201,412
March 31, 2023
1,070,485
179,593
Reference:
Shareholders’ equity:
As of March 31, 2024:
197,909 million yen
As of March 31, 2023:
176,072 million yen

15.6
16.4

409.04364.01

3.

Consolidated Cash Flows
Cash Flow fromOperating Activities

Cash Flow from
Investing Activities

Cash Flow from
Financing Activities(74,208)(70,589)(12,762)(8,947)

100,929
78,195(Millions of yen)
Cash and Cash
Equivalents at the End
of Period

Fiscal year ended

March 31, 2024
March 31, 2023

51,93437,885

II. Dividend Information
Dividend per share (Yen)End of
1st quarterEnd of
2nd quarterEnd of
3rd quarter

Year-end

Annual

–
–

0.00
0.00

－
－

1.00
1.00

1.00
1.00

–

0.00

–

1.00

1.00

FY ended March 31, 2023
FY ended March 31, 2024
FY ending March 31, 2025
(Forecast)

Total dividend
payment(full year)

PayoutRatio %
(Consolidated)

Dividend toequity ratio %(Consolidated)

483
483

2.2
2.1

0.3
0.2

2.2

III. Consolidated Earnings Forecast for the Fiscal Year ending March 31, 2025
(April 1, 2024 – March 31, 2025)

Six months ending
September 30, 2024
Fiscal year ending
March 31, 2025

(Millions of yen, Percentages indicate year-on-year changes)
Profit Attributable toProfit per
Ordinary Profit
Share (Yen)
Owners of Parent

Operating Revenue

Operating Profit

87,900

11.1%

8,900

35.0%

8,800

22.1%

7,900

19.5%

16.33

180,200

10.5%

23,80013.0%

24,0008.8%

21,600(1.0)%

44.64*Notes(1) Changes in significant subsidiaries during the period(Changes in specified subsidiaries resulting changes in scope of consolidation): None
(2) Changes in accounting principles, procedures and methods of presentation(a) Changes accompanying amendments to accounting standards: None(b) Changes other than those in (a): None(c) Change in accounting estimates: None(d) Restatement: None
(3) Number of shares issued (Common stock)(a) Number of shares issued at the end of the period

FY2023484,620,136 shares

FY2022484,620,136 shares(b) Number of treasury stock at the end of the period

FY2023

783,316 shares

FY2022

917,614 shares(c) Average number of shares during the period

FY2023

483,797,192 shares

FY2022483,702,593 shares(including treasury stock)(Reference) Highlights of Non-Consolidated Business Results
I.

Non-Consolidated Business Results for the Fiscal Year ended in March 31, 2024
(April 1, 2023 – March 31, 2024)

1.

Non-Consolidated Operating Results(In millions of yen, except where noted; percentage figures show year-on-year changes)
Operating Revenue

Operating Profit

Ordinary Profit

ProfitFiscal year ended

March 31, 2024
March 31, 2023

103,867
88,44917.4%
6.4%

24,33919,12727.2%
302.1%

Profit per Share (Yen)

Diluted Profit per
Share (Yen)

51.67
64.15

－
－

27,14732,213(15.7)%
377.4%

24,99831,028(19.4) %292.2 %

Fiscal year ended

March 31, 2024
March 31, 2023

2.

Non-Consolidated Financial Position
Total Assets

Net Assets

985,303
834,868

165,222
140,660(In millions of yen, except where noted)
Shareholders’ Equity
Net Assets per Share
Ratio (%)
(Yen)

As of

March 31, 2024
March 31, 2023
Reference: Shareholders’ equity:

II.

As of March 31, 2024
As of March 31, 2023

16.8
16.8

341.48290.80165,222 million yen
140,660 million yen

Non-Consolidated Earnings Forecast for the Fiscal Year ending March 31, 2025
(April 1, 2024 – March 31, 2025):(In millions of yen, except where noted; percentage figures show year-on-year change.)
Profit per
Share
Operating Revenue
Operating Profit
Ordinary Profit
Profit(Yen)

Six months ending
18.81
55,500
12.1%
8,100
60.0%
9,600
49.5%
9,100
47.5%
September 30, 2024
Fiscal year ending
46.09
112,200
8.0%
20,300(16.6)% 23,500(13.4)%
22,300(10.8)%March 31, 2025
* Note: Brief Statement of financial results is not subject to audit procedures that are conducted by a certified public accountant or an audit
corporation.
* Note: Disclaimer concerning the proper use of business results forecasts
The forecasts and other forward-looking statements contained in this Report are based on information currently available to the Company aswell as certain assumptions that the AIFUL Group has judged to be reasonable. Accordingly, actual results may differ from the forecasts due
to various factors. For matters related to earnings forecast above, please refer to “1. Business Results and Other, (4) Outlook for the fiscal year
ending March 2025” on page 5.

Contents
1. Business Results and Others…………………………………………………………………………………

02(1) Overview of Business Results for the Current Fiscal Year ……………………………………...………

02(2) Overview of Financial Position for the Current Fiscal Year………………………………………..……

04(3) Overview of Cash Flows for the Current Fiscal Year…………..……………………………………..…

04(4) Outlook for the fiscal year ending March 2025……………………………………………………….…

05(5) Basic Policies on Profit Distribution and Dividend for the Current Fiscal Year and Next Fiscal
Year………………………………………………………………………………………………………

05

2. Basic Stance on Selection of Accounting Standards………………………………………………………...

05

3. Consolidated Financial Statements…………………………………………………………………………..

06(1) Consolidated Balance Sheets…………………………………………………………………………….

06(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income…………

08(3) Consolidated Statements of Change in Shareholders’ Equity……………………………………………

11(4) Consolidated Statements of Cash Flows……………………………………………………………........

13(5) Notes to Consolidated Financial Statements……………………………………………………………..

15

Notes on Premise of Going Concern……………………………………………………………………...

15

Changes in Presentation Method…………..……………………………………………………………...

15

Notes to Consolidated Balance Sheets…………………………………………………………………….

17

Notes to Segment Information…………………………………………………………………………….

21

Per Share Information……………………………………………………………………………………..

24

Important Subsequent Events……………………………………………………………………………..

24

4. Non-Consolidated Financial Statements…………………………………………………..…………………

25(1) Non-Consolidated Balance Sheets…………………………..…….…………………..…………………

25(2) Non-Consolidated Statements of Income…………………………………………...……………………

28(3) Non-Consolidated Statements of Change in Shareholders’ Equity………………………………………

29

1

1. Business Results and Others(1) Overview of Business Results for the Current Fiscal Year
During the consolidated fiscal year under review, Japanese economy showed a gradual recovery as restrictions on activities
due to COVID-19 have been lifted and socioeconomic activities have normalized. However, the outlook remains uncertain due
to factors such as rising interest rates resulting from changes in the Bank of Japan's monetary easing policy, fluctuations inforeign exchange rates, and rising prices against the backdrop of soaring energy and raw material prices.
In the consumer finance industry, the number of new contracts at major companies has continued to increase year on year
and the balance of operating loans has expanded accordingly. Although the status of interest repayment claims is susceptible tochanges in the external environment and certain considerations are necessary, the number of claims is steadily decreasing.
Under these circumstances, AIFUL Group has aimed to grow the balance of operating loans and the top line by enhancing
UI/UX from a customer's perspective as well as by investing in advertising with an emphasis on efficiency. In addition, we willcontinue to invest in IT human resources to promote DX and in-house production in order to optimize costs and raise the profit
level.

(Overview of the Results)
In the consolidated fiscal year under review, AIFUL Group’s operating revenue amounted to 163,109 million yen (up 13.2%
year on year). The principal components were 95,400 million yen in interest on loans receivable (up 14.6% year on year), 21,625
million yen in revenue from the credit card business (up 5.4% year on year) and 19,408 million yen in revenue from the credit
guarantee business (up 14.0 % year on year).
Operating expenses increased 21,618 million yen, or 18.0% year on year, to 142,045 million yen. This was mainly due to anincrease of 16,542 million yen or 45.9% year on year in provision for doubtful accounts to 52,546 million yen.

As a result, AIFUL Group’s operating profit for the fiscal year under review was 21,064 million yen (down 11.2% year onyear), and ordinary profit was 22,067 million yen (down 9.7% year on year). Profit attributable to owners of the parent was
21,818 million yen (down 2.3% year on year) as a result of posting loss attributable to non-controlling interests of 316 million
yen.

The results by business segment are as follows.
(AIFUL Corporation)
Loan businessIn the loan business, in addition to effective and efficient advertising strategies mainly on TV commercials and web, theCompany is working to increase the number of new contracts and the operating loan balance by implementing initiatives toimprove UI/UX and customer satisfaction, such as speedily upgrading official sites, smartphone apps, and application forms
through in-house production in the digital field.
As a result, the number of new contracts for unsecured loans was 338,000 (up 12.4% year on year) and the contract rate was
35.9% (up 4.0pt year on year) in the fiscal year under review.

2

At the end of the fiscal year under review, unsecured loans outstanding were 548,554 million yen (up 11.9% year on year),secured loans outstanding were 1,836 million yen (down 26.6% year on year), small business loans outstanding were 12,522
million yen (up 21.9% year on year), and the total balance of operating loans in the loan segment was 562,913 million yen (up11.9% year on year) (5,126 million yen off-balance sheet operating loans from the securitization have been included).

Credit guarantee businessIn the credit guarantee business, AIFUL has leveraged its credit screening know-how for individuals and small- and mediumsized enterprises as well as its unique strengths as an independent entity to increase the credit guarantee balance by promoting
the diversification of credit guarantee products and increasing the number of guarantee partners.
As a result, loans outstanding for personal loan guarantee at the end of the fiscal year under review was 162,266 million yen(up 14.1% year on year), and loans outstanding for business loan guarantee was 56,193 million yen (up 32.6% year on year).
Of the credit guarantee for the business loans, 1,415 million yen comes from guarantees provided to AG BUSINESSSUPPORT CORPORATION.

As a result of the above, in the consolidated fiscal year under review, AIFUL posted operating revenue of 103,867 million
yen (up 17.4% year on year), operating profit of 24,339 million yen (up 27.2% year on year), ordinary profit of 27,147 million
yen (down 15.7% year on year), and profit of 24,998 million yen (down 19.4% year on year).
(LIFECARD Co., Ltd.)
Credit card businessIn the credit card business, LIFECARD is working to attract new members and increase active cardholders by issuing newalliance and tie-up cards, redesigning proper cards, adding app functions and renewing benefits that meet the needs ofcustomers as well as aggressive advertising.
As a result, the transaction volume for the consolidated fiscal year under review was 741,515 million yen (up 4.0% year onyear), and the balance of installment receivables for credit card business at the end of the fiscal year under review was 111,725
million yen (up 4.2% year on year) (6,036 million yen off-balance sheet operating loans from the securitization have been
included).
Card Cashing
The total amount of loans outstanding at the end of the fiscal year under review in LIFECARD’s loan business was 22,708
million yen (down 2.5% year on year) (1,751 million yen off-balance sheet operating loans from the securitization have been
included).

Credit guarantee businessIn the credit guarantee business, LIFECARD leveraged its credit screening know-how for individuals and small- andmedium-sized enterprises as well as its unique strengths as an independent entity to increase the credit guarantee balance bypromoting the diversification of credit guarantee products and increasing the number of guarantee partners.
As a result, loans outstanding for personal loan guarantee at the end of the fiscal year under review was 28,034 million yen(up 1.0% year on year), and loans outstanding for business loan guarantee was 1,534 million yen (up 21.6% year on year).

3

As a result of the above, LIFECARD Co., Ltd. recorded operating revenue of 37,669 million yen (up 5.5% year on year),
operating profit of 816 million yen (down 35.9% year on year), ordinary profit of 947 million yen (down 33.3% year on year),and profit of 363 million yen (down 60.1% year on year).

(Other)Six consolidated subsidiaries (AIRA & AIFUL Public Company Limited, AG BUSINESS SUPPORT CORPORATION, AG
Loan Services Corporation, AG Capital Co., Ltd., AG Payment Service CO.,LTD and AG Medical Corporation) which are notincluded in reportable segments for the fiscal year under review, posted operating revenue of 27,004 million yen (up 31.3%
year on year), operating loss of 1,659 million yen (compared with operating profit of 1,976 million yen in the previous fiscal
year), ordinary loss of 1,629 million yen (compared with ordinary profit of 2,044 million yen in the previous fiscal year), andnet loss of 2,319 million yen (compared with profit of 1,958 million yen in the previous fiscal year).
AG MIRAIBARAI CO., LTD was extinguished in an absorption-type merger with AG GUARANTEE CO., LTD. as asurviving company as of January 1, 2024 and AG GUARANTEE CO., LTD. changed its name to AG Payment Service CO.,LTD on the same date.

(2) Overview of Financial Position for the Current Fiscal Year
(Assets, liabilities, net assets)
Assets at the end of the consolidated fiscal year under review increased by 195,888 million yen from the end of the previous
fiscal year to 1,266,374 million yen (up 18.3% from the end of the previous fiscal year). This was primarily due to an increaseof 94,907 million yen in operating loans and an increase of 31,194 million yen in installment receivables.
Liabilities increased by 174,070 million yen to 1,064,962 million yen (up 19.5% from the end of the previous fiscal year). Thiswas primarily due to an increase of 103,669 million yen in bonds payable and borrowings.
Net assets increased by 21,818 million yen to 201,412 million yen (up 12.1% from the end of the previous fiscal year). The
increase was mainly attributable to an increase in retained earnings.

(3) Overview of Cash Flows for the Current Fiscal Year
Cash and cash equivalents (hereinafter referred to as "funds") at the end of the consolidated fiscal year under review
increased by 14,048 million yen from the end of the previous fiscal year to 51,934 million yen (up 37.1% from the end of theprevious fiscal year). The situation of each category of cash flow for the current consolidated fiscal year and the contributing
factors are as follows.

(Cash flows from operating activities)
Net cash used for operating activities amounted to 74,208 million yen, an increase of 5.1 % compared with the previous fiscal
year. This was mainly due to a decline in funds reflecting an increase in operating loans and installment receivables.
(Cash flows from investing activities)
Net cash used for investing activities amounted to 12,762 million yen, an increase of 42.6 % compared with the previous fiscal
year. This was mainly due to purchases of property, plant and equipment and intangible assets.

4

(Cash flow from financing activities)
Net cash provided by financing activities amounted to 100,929 million yen, an increase of 29.1% compared with theprevious fiscal year. This was mainly due to proceeds from issuance of bonds and borrowings exceeding repayments.

(4) Outlook for the fiscal year ending March 2025
Regarding the outlook, the number of new contracts and the balance of operating loans are expected to increase as the economy
is on a path of gradual recovery. On the other hand, the impact of rising interest rates, fluctuations in foreign exchange rates, andprice increases will continue to require close monitoring.
In addition, the environment surrounding the Group is changing rapidly due to new entry from outside industries andacceleration of digital transformation, etc., and it is necessary to respond promptly to the changes.
Under these circumstances, AIFUL Group has formulated a 3-year medium-term management plan starting in the fiscal year
ending March 31, 2025. The plan is based on a 10-year long-term vision, "Transformation Towards an IT Company ~ Aiming to
be a Company that Lasts for 100 Years ~." Under the theme of the medium-term management plan, "Try Harder: Toward a New
Stage of Growth," the Group will strive to raise the profit levels for the entire Group by growing the balance of its mainstay
businesses, such as the loan business, the credit guarantee business, and the credit business, and reforming its cost structure. In
addition, in order to expand our customer base and acquire new business models toward a new stage of growth, we will invest
profits of our mainstay businesses in high-growth businesses and М&A, thereby enhancing our corporate value.
With regard to its earnings forecasts for the fiscal year ending March 2025, the first year of the medium-term management
plan, AIFUL Group expects to record operating revenue of 180,200 million yen (up 10.5% year on year), operating profit of
23,800 million yen (up 13.0% year on year), ordinary profit of 24,000 million yen (up 8.8% year on year), and profit attributableto owners of parent of 21,600 million yen (down 1.0% year on year).
The above forecasts are based on information available as of the date of publication of this document, and the actual financial
results may differ from the forecasts due to various factors going forward.

(5) Basic Policies on Profit Distribution and Dividend for the Fiscal Year under Review and Next Fiscal YearAIFUL Group recognizes that returning profits to our shareholders is one of the most important management issues. The
Company’s basic policy is to secure stable internal reserves and return profits to shareholders in accordance with our operating
results, while aiming to maximize shareholder value through medium-to long-term profit growth.
As initially planned, we plan to pay a dividend of 1 yen per share at the end of the current fiscal year. For the next fiscal
year, we plan to pay an annual dividend of 1 yen per share (1 yen per share at the end of the fiscal year).

2. Basic stance on selection of accounting standards
In preparation for the pending application to the IFRS, AIFUL Group is developing internal manuals, guidelines and otherdocuments and examining the timing of the application.

5

3. Consolidated Financial Statements and Notes(1) Consolidated Balance Sheets(Millions of yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Operating loans
Accounts receivables - installment
Operational investment securities
Customers’ liabilities for acceptances and guarantees
Other operating receivables
Purchased receivables
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net
Furniture and fixtures
Accumulated depreciation
Furniture and fixtures, net
Land
Leased assets
Accumulated depreciation
Leased assets, net
Construction in progress
Total property, plant and equipment
Intangible assets
Software
Software in progress
Other
Total intangible assets
Investment and other assets
Investment securities
Claims provable in bankruptcy
Deferred tax assets
Lease and guarantee deposits
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

6

As of March 31, 2024

43,251
614,229
136,559
2,540
221,659
13,185
6,985
34,576(63,040)
1,009,948

56,917709,137
167,753
2,989
256,096
16,5738,380
51,752(79,021)
1,190,579

23,837(18,811)
5,026
450
(292)
158
5,440
(4,555)
884
8,900
5,316
(4,121)
1,194
73
16,23823,730(18,156)
5,574
451
(315)
136
5,729
(4,786)
942
8,816
4,564
(3,946)
618
1,003
17,092

5,888
2,347
157
8,392

6,728
7,448
173
14,34910,97818,16715,012
3,913
4,417(16,582)
35,90660,537
1,070,485

12,08615,131
20,212
3,979
6,522(13,579)
44,35375,794
1,266,374

(Millions of yen)
As of March 31, 2023
Liabilities
Current liabilities
Notes & accounts payable-trade
Acceptances and guarantees
Short-term borrowings
Short-term loans payable to subsidiaries and associates
Commercial papers
Current portion of bonds
Current portion of long-term borrowings
Income taxes payable
Allowance for bonuses
Provision for directors' bonuses
Provision for share-based remuneration
Deferred installment income
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Deferred tax liabilities
Provision for loss on interest repayment
Other
Total non-current liabilities
Total liabilities
Net Assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

7

As of March 31, 2024

43,066
221,659
69,582
1,734
12,000―183,832
2,006
1,555
45
50
7,094
30,284572,91268,069256,096
101,627959―
30,000233,660
3,871
1,671
1
58
12,85438,727
747,598

45,000249,087―
17,3836,509
317,979
890,892

50,000248,657
107
11,7606,838
317,364
1,064,962

94,02814,017
69,419(3,110)174,354

94,02814,017
90,345(2,655)
195,735

1,123
595
1,718
3,520
179,5931,070,485

1,283
890
2,174
3,502
201,412
1,266,374

(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
i. Consolidated Statements of Income
FY ended March 31, 2023
(Apr. 1 2022 to Mar. 31 2023)(Millions of yen)
FY ended March 31, 2024
(Apr. 1 2023 to Mar. 31 2024)

Interest on loans receivable

83,23095,400

Revenue from credit card business

20,50821,625

Operating revenue

Revenue from installment sales

2,649

4,665

Revenue from credit guarantee

17,03019,4085

8Collection from purchased receivable

1,094

1,341

Recoveries of written off claims

7,488

7,428

Other

12,144

13,232

Total other operating revenue

20,72722,002

144,152

163,109

Interest expenses

5,889

5,984

Interest on bonds

429

568

Other

749

692

7,068

7,246

Other

229

332

Total cost of sales

229

332

Advertising expenses

16,876

17,788Commissions

17,95819,499Provision of allowance for doubtful accounts

36,00452,546

Employees’ salaries, allowances and bonuses

12,333

13,673

Provision for bonuses

1,462

1,567

509

520

Other financial revenue
Other operating revenue

Total operating revenue
Operating expenses
Financial expenses

Total financial expenses
Cost of sales

Other operating expenses

Retirement benefit expenses
Welfare expenses

2,697

2,945

Other

25,28825,925

Total other operating expenses
Total operating expenses
Operating profit

8

113,129

134,466

120,427

142,045

23,72421,064

Non-operating income
Interest on loans receivable
Share of profit of entities accounted for using equity method
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Provision for doubtful accounts
Loss on investments in silent partnership
Infectious disease related costs
Burden charge payment
Settlement payments
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on the sale of fixed assets
Total extraordinary income
Extraordinary losses
Loss on valuation of stocks of subsidiaries and affiliates
Provision for doubtful accounts
Total extraordinary losses
Profit before income taxes
Income taxes – current
Income taxes – deferred
Total income taxes
ProfitProfit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

9

FY ended March 31, 2023
(Apr. 1 2022 to Mar. 31 2023)(Millions of yen)
FY ended March 31, 2024
(Apr. 1 2023 to Mar. 31 2024)

19
184
204
339
747

83
63
551
342
1,041

3
16
4
0
―
18
44
24,428

―
―
―
4
17
15
37
22,067

―
―

79
79

14
453
468
23,9593,349(2,336)
1,013
22,946603
22,343467
186
653
21,493
5,007(5,016)(8)
21,502(316)
21,818

ii. Consolidated Statements of Comprehensive Income

ProfitOther Comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Share of other comprehensive income of entities accounted forusing equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to
Owners of parent
Non-controlling interests

10

FY ended March 31, 2023
(Apr. 1 2022 to Mar. 31 2023)(Millions of yen)
FY ended March 31, 2024
(Apr. 1 2023 to Mar. 31 2024)

22,946

21,502

24
579

160
594

0

0

604
23,550754
22,25622,656894

22,274(18)

(3) Consolidated Statements of Change in Shareholders’ Equity
For the fiscal year ended March 31, 2023
(Millions of yen)
Shareholders’ equity
Capitalstock
Balance at April 1, 2022

Capitalsurplus94,028Retainedearnings

14,017

Total
shareholders’equityTreasuryshares47,560(3,110)152,495

Changes during the period
Dividends of surplus

(483)

(483)

Profit attributable to owners ofparent22,343

22,343Purchase of treasury shares

(0)

(0)
―

Restricted stock compensation
Net changes in accounts other thanshareholders’ equity
Total change during fiscal year
Balance at March 31, 2023

―

―

―

―

―

―

―

21,859(0)

21,85994,02814,017

69,419(3,110)174,354

Accumulated other comprehensive income
Valuationdifference on
available-forsale securities
Balance at April 1, 2022

1,098

Foreigncurrencytranslation
adjustment
306

Noncontrollinginterests

Total

1,404

2,626

Total net
assets156,526

Changes during the period
Dividends of surplus(483)

Profit attributable to owners ofparent22,343Purchase of treasury stock(0)

Restricted stock compensation―

Net changes in accounts other thanshareholders’ equity
Total change during fiscal year
Balance at March 31, 2023

24

288

313

894

1,207

24

288

313

894

23,067

1,123

595

1,718

3,520

179,59311

For the fiscal year ended March 31, 2024
(Millions of yen)
Shareholders’ equity
Capitalstock
Balance at April 1, 2023

Capitalsurplus94,028Retainedearnings

14,017

Total
shareholders’equityTreasuryshares69,419(3,110)174,354

Changes during the period
Dividends of surplus

(483)

(483)

Profit attributable to owners ofparent21,81821,818Purchase of treasury stock(0)

Transfer from retained earnings tocapital surplus

409

Restricted stock compensation(409)

Net changes in accounts other thanshareholders’ equity
Total change during fiscal year
Balance at March 31, 2024

(0)

(409)

―
455

45

―

―

―

―

―

―

―

20,925455

21,38094,02814,017

90,345(2,655)

195,735

Accumulated other comprehensive income
Valuationdifference on
available-forsale securities
Balance at April 1, 2023

1,123

Foreigncurrencytranslation
adjustment
595

Noncontrollinginterests

Total

1,718

3,520

Total net
assets179,593

Changes during the period
Dividends of surplus(483)

Profit attributable to owners ofparent21,818Purchase of treasury stock(0)

Transfer from retained earnings tocapital surplus―

Restricted stock compensation

45

Net changes in accounts other thanshareholders’ equity
Total change during fiscal year
Balance at March 31, 2024

160

295

456

(18)

437

160

295

456

(18)

21,818

1,283

890

2,174

3,502

201,41212

(4) Consolidated Statements of Cash FlowsFY ended March 31, 2023
(Apr. 1 2022 to Mar. 31 2023)(Millions of yen)
FY ended March 31, 2024
(Apr. 1 2023 to Mar. 31 2024)

Cash flows from operating activities
Profit before income taxes

23,95921,493

Depreciation

3,599

3,913

Increase (decrease) in allowance for doubtful accounts

897

12,424

Increase (decrease) in provision for bonuses

139

112

Increase (decrease) in provision for directors' bonuses

4―

Increase (decrease) in provision for share-based remuneration

50

7Increase (decrease) in allowance for loss on interest repayment(7,210)(5,623)

Interest and dividend income

(54)

(146)

Decrease (increase) in foreign exchange gains

(206)

(551)

Loss on valuation of shares of subsidiaries and associates

14

420

Loss (gain) on valuation of investment securities

―

47

(184)

(63)

―

(79)

Decrease (increase) in operating loans receivable(64,201)(92,280)

Decrease (increase) in accounts receivable – installment(26,314)(31,194)

Decrease (increase) in other operating receivable(2,943)(3,387)

Decrease (increase) in purchased receivable(1,647)(1,394)

Decrease (increase) in claims provable in bankruptcy

4,400

3,035

Decrease (increase) in business guarantee deposits, etc.

1,218

(41)

Decrease (increase) in other current assets(9,685)(17,328)

Increase (decrease) in other current liabilities

9,724

39,274

Other

(471)

147

Subtotal(68,909)(71,260)

Interest and dividend income

74

167

Income taxes refund

482

54

Share of loss (profit) of entities accounted for using equity method
Loss (gain) on sale of fixed assets

Income taxes paid

(2,238)(3,169)Cash flow from operating activities(70,589)(74,208)

Payments into time deposits(5,351)(4,949)Proceeds from withdrawal of time deposits

5,286

5,332

Purchase of property, plant and equipment(996)(2,792)―

175

Purchase of intangible assets(3,487)(7,806)

Purchase of investment securities(4,246)(1,302)

Payments of long-term loans receivable(770)(2,354)

Proceeds from collection of long-term loans receivable

305

137

Other

314

301

(8,947)(12,762)

Cash flows from investing activities

Proceeds from sales of property, plant and equipment

Cash flows from investing activities

13

FY ended March 31, 2023
(Apr. 1 2022 to Mar. 31 2023)(Millions of yen)
FY ended March 31, 2024
(Apr. 1 2023 to Mar. 31 2024)

Cash flows from financing activities
Proceeds from short-term borrowings

1,304,135

1,635,716

Repayments of short-term borrowings(1,312,462)(1,605,238)

Proceeds from issuance of commercial papers

40,500184,400

Redemption of commercial papers(31,000)(196,400)

Proceeds from long-term loans payable

259,557

259,187

Repayments of long-term loans payable(190,908)(210,131)

Proceeds from issuance of bonds

45,00035,000

Redemption of bonds(35,000)―

Cash dividends paid

(483)

(483)

Other

(1,142)(1,119)Cash flows from financing activities

78,195100,929

79

89

Net increase (decrease) in cash and cash equivalents(1,261)

14,048Cash and cash equivalents at beginning of period

39,14737,885

Cash and cash equivalents at end of period

37,88551,934

Effect of exchange rate changes on cash and cash equivalents

14(5) Notes to Consolidated Financial Statements(Notes on premise of going concern)
Not applicable.
(Changes in Presentation Method)(Consolidated Balance Sheets)"Software in progress," included in "Software" in the previous consolidated fiscal year, is presented separately fromthe current consolidated fiscal year due to an increase in its monetary materiality. The consolidated financial statements forthe previous fiscal year have been reclassified to reflect this change in presentation.
As a result, 8,235 million yen presented as "Software" in the consolidated financial statements for the previous fiscal
year has been reclassified as "Software" of 5,888 million yen and "Software in progress" of 2,347 million yen.
(Consolidated Statements of Income)We have strengthened recruitment and development of specialists to grow as an IT finance group. Accordingly,"Welfare expenses," included in "Other" under "Other operating expenses" in "Operating expenses" in the previous fiscal
year, is presented separately from the current fiscal year to indicate the personnel expenses item more clearly. The
consolidated financial statements for the previous fiscal year have been reclassified to reflect this change in presentation.
As a result, 27,985 million yen presented as "Other" under "Other operating expenses" in the "Operating expenses" inthe consolidated statement of income for the previous fiscal year has been reclassified as "Welfare expenses" of 2,697
million yen and "Other" of 25,288 million yen.
"Real estate rent," presented as a separate item in the previous fiscal year, is included in "Other" from the current fiscal
year because it became 10/100 or less of the total amount of non-operating income. The consolidated financial statements
for the previous fiscal year have been reclassified to reflect this change in presentation.
As a result, "Real estate rent" of 93 million yen and "Other" of 246 million yen, which were presented under "Nonoperating income" in the consolidated statements of income for the previous fiscal year have been reclassified as "Other"of 339 million yen.
"Burden charge payment," included in "Other" under "Non-operating expenses" in the previous fiscal year, ispresented separately from the current fiscal year because it exceeded 10/100 of the total amount of non-operating expenses.
The consolidated financial statements for the previous fiscal year have been reclassified to reflect this change inpresentation.
As a result, 18 million yen presented as "Other" under "Non-operating expenses" in the Consolidated Statement of
Income for the previous fiscal year has been reclassified as "Burden charge payment" of 0 yen and "Other" of 18 million
yen.
(Consolidated Statements of Cash Flows)"Decrease (increase) in foreign exchange gains," included in "Other" under "Cash flows from operating activities" inthe previous fiscal year, is presented separately from the fiscal year under review due to an increase in its materiality. The
consolidated financial statements for the previous fiscal year have been reclassified to reflect this change in presentation.
As a result, negative 677 million yen presented in "Other" under "Cash flows from operating activities" in the
consolidated statements of cash flows for the previous fiscal year has been reclassified into a negative 206 million yen in"Decrease (increase) in foreign exchange gains" and negative 471 million yen in "Other.""Payments of long-term loans receivable" and "Proceeds from collection of long-term loans receivable," included in"Other" under "Cash flows from investing activities" in the previous fiscal year, is presented separately from the fiscal year
under review due to an increase in its materiality. The consolidated financial statements for the previous fiscal year havebeen reclassified to reflect this change in presentation.

15

As a result, negative 151 million yen presented in "Other" under "Cash flows from investing activities" in the
consolidated statements of cash flows for the previous fiscal year has been reclassified into a negative 770 million yen in"Payments of long-term loans receivable," 305 million yen in "Proceeds from collection of long-term loans receivable" and314 million yen in "Other."

16

(Notes to consolidated balance sheets)*1. Assets pledged as collateral and corresponding liabilities
Assets pledged as collateral
As of March 31, 2023

As of March 31, 2024

(1) Assets pledged as collateral(Millions of yen)
Cash and deposits
5,332
Operating loans
350,717
Accounts receivable – installment
45,780
Buildings and structures
3,727
Machinery and equipment
7
Furniture and fixtures
64
Land
8,816
Total
414,444(1) Assets pledged as collateral(Millions of yen)
5,267Cash and deposits
5,001
4,949
337,276Operating331,065
loans
370,060
42,433Accounts receivable
55,100 – installment
48,496
3,762Total
3,972
423,506
8
9
55
56
8,816
8,816
397,620
404,022(2) Corresponding liabilities(Millions of yen)
Short-term borrowings
56,500Current portion of long-term
102,246
borrowings
Long-term borrowings
156,052(2) Corresponding liabilities(Millions of yen)
68,510
Short-term borrowings
77,19077,950 83,140
Current portion of long-term
95,567
108,306
88,120 120,933
borrowings
127,030
Long-term borrowings
134,214
164,802 140,840

Total

314,798

291,108
Totali) The amounts above at the end of the fiscal year underreview include amounts related to the securitizationof receivables (operating loans of ¥184,506 million,
current portion of long-term borrowings of ¥24,937
million and long-term borrowings of ¥74,539
million).
ii) The amounts for some of the operating loans andinstallment receivables are amounts at the time ofregistration of the transfer of receivables.

319,710

330,872 344,914i) The amounts above at the end of the fiscal year underreview include amounts related to the securitizationof receivables (operating loans of ¥180,301 million,
short-term borrowings of ¥10,000 million, current
portion of long-term borrowings of ¥ 33,235 million
and long-term borrowings of ¥ 55,933 million).
ii) The amounts for some of the operating loans andinstallment receivables are amounts at the time ofregistration of the transfer of receivables.

iii) Of the above assets, cash and deposits of ¥422
million are pledged as collateral for PT REKSAFINANCE borrowings.

*2. Unsecured personal loans included in operating loans
As of March 31, 2023

As of March 31, 2024

¥542,992 million¥608,233 million*3. Shares and other securities issued by non-consolidated subsidiaries and affiliated companies
As of March 31, 2023

As of March 31, 2024

Investment securities (shares)¥7,150 million¥8,076 million

Investment securities (other securities)¥1,421 million¥1,519 million

As of March 31, 2023

As of March 31, 2024

¥100,988 million¥105,785 million*4. Accounts receivable - installment

Credit card business
Installment sales finance business¥35,570 million¥61,968 million

Total¥136,559 million¥167,753 million

17*5. Deferred installment income
As of March 31, 2023

As of March 31, 2024

(Millions of yen)
Balance at
Receipts
beginning ofduring FY
FYRealizedbalanceduring FY

Balance at
end of FY(Millions of yen)
Balance at
Receipts
beginning ofduring FY
FYRealizedbalanceduring FY

Balance at
end of FY

Credit card
shopping

454

1,574

1,466

562

Credit card
shopping

562

1,519

1,321

759

Installment
sales finance

2,566

7,334

3,368

6,532

Installment
sales finance

6,532

12,958

7,396

12,094

Total

3,021

8,908

4,835

7,094

Total

7,094

14,477

8,718

12,854*6. Securitization of claims removed from the balance sheet
As of March 31, 2023

As of March 31, 2024

Operating loans¥34,531 million¥29,539 million

Accounts receivable - installment¥6,340 million¥6,036 million*7. Contingent liability
Guarantee obligation
The Company guarantees loans payable from financial institutions for the Company’s non-consolidated subsidiary, PT REKSAFINANCE.

PT REKSA FINANCE

As of March 31, 2023

As of March 31, 2024

¥3,408 million¥3,569 million

18*8. Non-performing loans
The status of non-performing loans (NPL) is as follows:
As of March 31, 2023

As of March 31, 2024
(Millions of yen)

Loans outstanding and Claims
provable in bankruptcy

Bankrupt or De
facto Bankrupt
Doubtful
Receivables
Receivables 3months+ in arrears

Restructured
receivables
Normalreceivables
Total(Millions of yen)
Loans outstanding and Claims
provable in bankruptcy

Other

Total

Other

Total

Unsecuredloans

Other thanunsecured loans

17,118660

12,854582

14,098

8,232

39,48028,519

8,807

9,865

47,192

404

-

9,960

10,913464-

11,37744,743

2,301

4,997

52,04255,820

2,587

6,725

65,133464,351

62,627

226,414753,393

513,496

89,544

261,966

865,007544,189

87,694

240,112

871,996

609,410114,258

279,140 1,002,809

Unsecuredloans

Other thanunsecured loans

597

16,052

468

24,940

6,307

9,556

The loan categories in the table above are as follows.
(Bankrupt or De facto Bankruptcy)
Bankrupt or De facto Bankruptcy are loans in which the conditions stipulated under (a) through (e) of sub-paragraph 3,
paragraph 1, Article 96 or sub-paragraph 4 of the same paragraph of the Corporation Tax Act Enforcement Ordinance(Enforcement Ordinance No. 97 of 1965) apply. Any amounts deemed necessary to cover possible losses on an individual
account basis of the claims in bankruptcy and rehabilitation are posted in the allowances for doubtful accounts.
(Doubtful receivables)
Doubtful receivables are receivables that do not fall under the category of Bankrupt or De facto Bankrupt, and with a highpossibility that the repayment situation will deteriorate, and it will not be possible to collect the principal nor interest of thereceivables in accordance with the contract.
(Receivables three months or more in arrears)
Receivables three months or more in arrears are receivables for which payments of principal or interest have not been
received for a period of three months or more beginning with the next business day following the last due date for suchpayments. Receivables classified as Bankrupt or De facto Bankruptcy and Doubtful receivables are excluded from loans threemonths or more in arrears.
(Restructured receivables)
Restructured receivables are receivables for which creditors have granted concessions (e.g., reduction of the stated interest
rate, deferral of interest payment, extension of maturity date, waiver of the face amount, or other concessive measures) to
debtors in financial difficulties to assist them in their recovery and eventually enable them to pay creditors, and which receive
regular payments. Receivables classified as Bankrupt or De facto Bankruptcy, Doubtful receivables and Receivables threemonths or more in arrears are excluded.
(Normal receivables)
Normal receivables are receivables that do not fall under any of the above categories and have no repayment delays.

19*9. Loan commitments related to operating loans(Previous fiscal year)
Of operating loans including off-balance sheet loans resulting from securitization, ¥553,769 million is loans under revolving
credit agreements. Under these agreements, customers may get additional loans up to a specified maximum amount that does notexceed the amount requested by them.
Outstanding loan commitments under revolving credit agreements were ¥811,755 million.
The Group reviews the agreements and takes steps to preserve credit even after concluding the agreements if it considers thattaking steps is necessary due to changes in customers’ credit standing and other reasons.
Outstanding loan commitments include commitments to customers who do not have any outstanding loan commitments or who
have not requested any loans after concluding a credit agreement. Many revolving credit agreements expire with no loans being
provided. Therefore, outstanding loan commitments themselves do not necessarily affect the Group’s future cash flows.
(Fiscal year under review)Of operating loans including off-balance sheet loans resulting from securitization, ¥632,554 million is loans under revolving
credit agreements. Under these agreements, customers may get additional loans up to a specified maximum amount that does notexceed the amount requested by them.
Outstanding loan commitments under revolving credit agreements were ¥812,491 million.
The Group reviews the agreements and takes steps to preserve credit even after concluding the agreements if it considers thattaking steps is necessary due to changes in customers’ credit standing and other reasons.
Outstanding loan commitments include commitments to customers who do not have any outstanding loan commitments or who
have not requested any loans after concluding a credit agreement. Many revolving credit agreements expire with no loans being
provided. Therefore, outstanding loan commitments themselves do not necessarily affect the Group’s future cash flows.
*10. Of the allowances for doubtful accounts, the estimated interest repayment amounts expected to have priority in being
appropriated to operating loans are as follows:
As of March 31, 2023

As of March 31, 2024

¥2,160 million¥1,564 million*11. Of other, contract liabilities are as follows:
As of March 31, 2023

As of March 31, 2024

¥3,721 million¥3,558 million

20

(Notes to Segment Information)
Segment Information
1.

Overview of reporting segmentsi) Determination of reporting segments
The Company’s reporting segments are the Group’s constituent units for which separate financial information is available andwhich the Board of Directors reviews periodically in order to decide the allocation of managerial resources and evaluate businessperformance.
The Group carries out business with the Company and each of its consolidated subsidiaries as the smallest component of its
strategies.
Therefore, the AIFUL Group’s reporting segments are its two core companies: AIFUL Corporation and LIFECARD Co., Ltd.,ii) Types of products and services belonging to each reporting segment
AIFUL Corporation is mainly engaged in loans and credit guarantees. LIFECARD Co., Ltd., is mainly involved in credit sales
and credit guarantees.
2.

Calculation of operating revenue, profit or loss, assets, liabilities, etc., of each reporting segment
The accounting methods applied to the reporting segments are the same as those described in “Significant Items Forming theBasis for the Preparation of the Consolidated Financial Statements.” Income of the reporting segments is the net profit.
Inter-segment sales and transfers are based on the amount equivalent to the cost of sales at the submitting company.

21

3.

Information related to operating revenue, profit or loss, assets, liabilities, etc., of each reporting segment
Previous fiscal year (From April 1, 2022 to March 31, 2023)(Millions of yen)
Reporting segment
AIFUL

LIFECARD

Subtotal

Other*1

Total

Operating revenue
Operating revenue from third parties

88,29435,349123,643

20,508144,152

155

339

495

65

560

88,44935,689124,138

20,574

144,713

Segment profit

31,028911

31,9391,958

33,897

Segment assets

834,868

216,305

1,051,173

143,976

1,195,150

Inter-segment sales and transfers
Total*1. The “other” classification comprises business segments not included in reporting segments and encompasses the activities of AG
BUSINESS SUPPORT CORPORATION and AG Loan Services Corporation, etc.
*2. Provision of allowance for doubtful accounts is the amount of operating and non-operating expenses.

Fiscal year under review (From April 1, 2023 to March 31, 2024)(Millions of yen)
Reporting segment
AIFUL

LIFECARD

Subtotal

Other*1

Total

Operating revenue
Operating revenue from third parties

99,231

37,071

136,303

26,806

163,109

Inter-segment sales and transfers

4,635

597

5,232

63

5,296

103,867

37,669141,536

26,869168,405

Segment profit

24,998363

25,362(2,377)22,985

Segment assets

985,303245,296

1,230,600

211,439

1,442,039

Total*1. The “other” classification comprises business segments not included in reporting segments and encompasses the activities of AG
BUSINESS SUPPORT CORPORATION and AG Loan Services Corporation, etc.
*2. Provision of allowance for doubtful accounts is the amount of operating and non-operating expenses.

22

4.

Difference between the total amount of reportable segments and the amount recorded in the consolidated financial statements andthe main details of such difference (matters concerning difference adjustment)(Millions of yen)
Operating revenue

FY2023/3

FY2024/3

Reporting segment total

124,138

141,536

Operating revenue categorized as “other”

20,574

26,869Inter-segment eliminations(560)(5,296)

144,152

163,109

Operating revenue posted in consolidated financial
statements(Millions of yen)
ProfitFY2023/3

FY2024/3

Reporting segment total

31,93925,362

Profit categorized as “other”

1,958(2,377)

Inter-segment eliminations(11,080)(2,851)Other adjustments

(473)

1,684

Profit attributable to owners of parent posted inconsolidated financial statements

22,343

21,818(Millions of yen)
Assets

FY2023/3

Reporting segment total

FY2024/3
1,051,173

1,230,600

Assets categorized as “other”

143,976

211,439

Other adjustments(124,664)(175,665)

Total assets posted in consolidated financial statements

1,070,485

1,266,37423

(Per Share Information)
Previous FY(Apr. 1 2022 to Mar. 31 2023)

FY under review(Apr. 1 2023 to Mar. 31 2024)

Net assets per share¥364.01

Net assets per share¥409.04

Net income per share¥46.19Net income per share¥45.10Note 1. Diluted net income per share is omitted because there are no potentially dilutive shares.
2. The basis for calculation of net income per share is as follows:
Previous FY(Apr. 1 2022 to Mar. 31 2023)
Profit attributable to owners of parent
Amount not attributable to common stock
shareholders
Profit attributable to owners of parent related tocommon stock
Average number of shares of common stockduring the period

FY under review(Apr. 1 2023 to Mar. 31 2024)

22,343

21,818――22,343

21,818483,702,593 shares

483,797,192 shares

3. The basis for calculation of net assets per share is as follows.

(Millions of yen)Previous FY(Apr. 1 2022 to Mar. 31 2023)
Total net assets(Millions of yen)

FY under review(Apr. 1 2023 to Mar. 31 2024)

179,593

201,412Amount deducted from total net assets

3,520

3,502

(Of which non-controlling interest)(3,520)(3,502)

Net assets related to common stock at end of FY

176,072

197,909

Number of shares of common stock at end of FY
used in the calculation of net assets per share

483,702,522 shares

483,836,820 shares(Important Subsequent Events)
Not applicable244. Non-Consolidated Financial Statements(1) Non-Consolidated Balance Sheets(Millions of yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Operating loans
Accounts receivable - installment
Customers’ liabilities for acceptances and guarantees
Other operating receivables
Prepaid expenses
Accrued income
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings
Accumulated depreciation
Buildings, net
Structures
Accumulated depreciation
Structures, net
Machinery and equipment
Accumulated depreciation
Machinery and equipment, net
VehiclesAccumulated depreciation
Vehicles, net
Furniture and fixtures
Accumulated depreciation
Furniture and fixtures, net
Land
Leased assets
Accumulated depreciation
Leased assets, net
Construction in progress
Total property, plant and equipment
Intangible assets
Software
Software in progress
Other
Total intangible assets
Investments and other assets
Investment securities
Shares of subsidiaries and associates
Long-term loans receivable from subsidiaries and associates
Claims provable in bankruptcy
Long-term prepaid expenses
Deferred tax assets
Lease and guarantee deposits
Other
Allowance for doubtful accounts

25

As of March 31, 2024

20,826495,446
185
184,541
11,326
407
3,562
9,298
(39,854)685,740

21,141
557,786
162
218,459
14,198
364
3,840
9,793
(45,930)
779,817

13,008(9,322)13,018(8,959)

3,686
819
(679)

4,059
739
(622)

139
146
(139)

117
146
(141)

7
0
(0)
0

5
1
(0)
0

3,479
(2,993)
486
6,810
1,194
(708)

3,537
(3,067)
470
6,726
1,194
(899)

486
42
11,659295
1,003
12,678

2,289
1,832
79

2,241
6,970
73

4,201

9,285

1,279
34,766
83,645
11,676307
10,471
1,183
374(10,437)

1,281
25,660141,4237,645
231
12,0881,279
347(6,436)

133,267
149,127
834,868

Total investments and other assets
Total non-current assets
Total Assets

26

183,521205,486
985,303(Millions of yen)
As of March 31, 2023
Liabilities
Current liabilities
Acceptances and guarantees
Short-term borrowings
Short-term loans payable to subsidiaries and associates
Commercial papers
Current portion of bonds
Current portion of long-term borrowings
Lease obligations
Trade accounts payable
Accrued expenses
Income taxes payable
Allowance for bonuses
Provision for directors' bonuses
Provision for share-based remuneration
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Lease obligations
Provision for loss on interest repayment
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net Assets
Shareholders’ equity
Capital stock
Capital surplus
Capital reserves
Total capital surplus
Retained earnings
Legal retained earnings
Other retained earnings
Retained earnings carried forward
Total retained earnings
Treasury shares
Total shareholders’ equity
Valuation and translation adjustments
Valuation difference on available-for-sale securities
Total valuation and translation adjustments
Total net assets
Total liabilities and net assets

27

As of March 31, 2024

184,541
3,550
1,734
12,000―177,585
209
5,412
647
1,418
1,482
39
44
539
389,206

218,459
36,800959―
30,000222,002
191
5,034
770
3,045
1,598
―
51
661
519,575

45,000241,916328
14,9432,013
799
305,001
694,207

50,000237,222
136
9,948
2,397
800
300,505
820,080

94,02894,028

52
52

52
52

96

145

49,09849,195(3,110)140,165

73,15573,300(2,655)
164,726494
494
140,660
834,868

496
496
165,222985,303(2) Non-Consolidated Statements of Income(Millions of yen)
FY ended March 31, 2023
(Apr. 1 2022 to Mar. 31 2023)
Operating revenue
Interest on operating loans
Other financial revenue
Other operating revenue
Revenue from credit guarantee
Recoveries of written off claims
Other
Total other operating revenue
Total operating revenue
Operating expenses
Financial expenses
Interest expenses
Interest on bonds
Other
Total financial expenses
Other operating expenses
Advertising expenses
Commissions
Provision of allowance for doubtful accounts
Employees' salaries, allowances and bonuses
Provision for bonuses
Retirement benefit expenses
Welfare expenses
Depreciation
Other
Total other operating expenses
Total operating expenses
Operating profit
Non-operating income
Interest on loans receivables
Foreign exchange gains
Dividends
Other
Total non-operating income
Non-operating expenses
Provision of allowance for doubtful accounts
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on the sale of fixed assets
Total extraordinary income
Extraordinary losses
Loss on valuation of stocks of subsidiaries and affiliates
Provision of allowance for doubtful accounts
Total extraordinary losses
Income before taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit28

FY ended March 31, 2024
(Apr. 1 2023 to Mar. 31 2024)

67,596
0

76,323012,4476,357
2,048
20,85288,44914,397
6,128
7,017
27,543103,867

4,078
429
736
5,245

4,053
568
684
5,306

14,097
6,449
22,406
6,657
876
306
1,665
1,745
9,871
64,07669,322

13,937
6,842
31,172
7,327
978
315
1,851
1,884
9,911
74,221
79,527

19,127

24,3391,387
392
10,831
489
13,100

1,805
417
37
554
2,814

3
11
15
32,213―6
6
27,147

―
―

79
79

14
453
468
31,744
1,526
(809)
716
31,028420186
606
26,6203,238(1,617)
1,621
24,998

(3) Non-Consolidated Statements of Change in Shareholders’ Equity
Fiscal year ended March 31, 2023
(Millions of yen)
Shareholders’ equity

Capitalstock

Balance at April 1, 2022

Legal capitalsurplus94,028

Capital surplus

Retained earnings

Other capitalsurplus

Other retained
earnings
Retainedearnings brought
forward

Total capitalsurplus―52

Legal retained
earnings

52

Total retained
earnings

48

18,602

18,650

48

(532)

(483)

31,02831,028Changes during the period
Dividends of surplus
ProfitPurchase of treasury shares
Transfer from retained earnings
to capital surplus
Restricted stock compensation
Net changes in accounts otherthan shareholders’ equity
Total change during fiscal year
Balance at March 31, 2023

―

―

―

―

48

30,49630,544

94,028

52

―

52

96

49,09849,195

Valuation and translation
adjustments
Valuation
Total valuationdifference onand translation
available-foradjustments
sale securities

Shareholders' equity
Total
Shareholders'equityTreasurysharesBalance at April 1, 2022

(3,110)109,621475

475

Total net assets

110,096

Changes during the period
Dividends of surplus

(483)

(483)

Profit31,02831,028

(0)

(0)

―

―

Purchase of treasury shares(0)

Transfer from retained earnings
to capital surplus―

Restricted stock compensation
Net changes in accounts otherthan shareholders’ equity
Total change during fiscal year
Balance at March 31, 2023

19

19

19

(0)

30,54419

1930,564(3,110)140,165494

494

140,660

29

Fiscal year ended March 31, 2024
(Millions of yen)
Shareholders’ equity
Capital surplus
Capitalstock

Balance at April 1, 2023

Legal capitalsurplus94,028Other capitalsurplusRetained earnings

Total capitalsurplus―52

Other retained
earnings
Retainedearnings brought
forward

Legal retained
earnings

52

Total retained
earnings

96

49,09849,195

48

(532)

(483)

24,99824,998

(409)

(409)

Changes during the period
Dividends of surplus
ProfitPurchase of treasury shares
Transfer from retained earnings
to capital surplus

409

409

Restricted stock compensation

(409)

(409)

Net changes in accounts otherthan shareholders’ equity
Total change during fiscal year
Balance at March 31, 2024

―

―

―

―

48

24,057

24,10594,028

52

―

52

145

73,15573,300

Valuation and translation
adjustments
Valuation
Total valuationdifference onand translation
available-foradjustments
sale securities

Shareholders' equity
Total
Shareholders'equityTreasurysharesBalance at April 1, 2023

(3,110)140,165494

494

Total net assets

140,660

Changes during the period
Dividends of surplus

(483)

(483)

Profit24,99824,998

(0)

(0)

―

―

45

45

Purchase of treasury shares(0)

Transfer from retained earnings
to capital surplus
Restricted stock compensation

455

Net changes in accounts otherthan shareholders’ equity
Total change during fiscal year
Balance at March 31, 2024

1

1

1

455

24,5601

1

24,562(2,655)

164,726

496

496

165,22230