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, 2021
(Based on Japanese GAAP)May 14, 2021
Company name:

The Chugoku Bank, Limited

Stock exchange listing: Tokyo
Stock code:
8382
Representative:
Inquiries:

URL

https://www.chugin.co.jp/

President
Executive Officer General Manager,

Management Planning Department
Scheduled date of ordinary general meeting of shareholders:

Sadanori Katoh
Masakazu Yamagata

TEL

086-223-3111

June 25, 2021

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

June 18, 2021
June 28, 2021

Trading accounts:
Preparation of supplementary material on financial results:

No
Yes

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

1. Consolidated financial results for the year ended March 31, 2021 (from April 1, 2020 to March 31, 2021)(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, 2021
116,976(8.1)
21,252
21.6
14,418
20.9
Year ended March 31, 2020
127,318(1.0)
17,463(26.3)
11,916(26.4)
Profit attributable toOrdinary profit/total
owners ofassetsparent/equity
Yen
%
%
76.58
2.6
0.2
63.29
2.2
0.2

Diluted earnings per
share

Earnings per share
Yen
76.66
63.35

Year ended March 31, 2021
Year ended March 31, 2020

Ordinary
profit/ordinary
income%18.1
13.7(2) Consolidated financial position
Total assets
As of March 31, 2021
As of March 31, 2020

Net assets

Equity ratio

Millions of yen
9,153,162
8,147,386

Millions of yen
562,197
511,193

Cash flows fromoperating activities
Millions of yen
656,480(169,359)

Cash flows frominvesting activities
Millions of yen(227,992)(10,370)

Net assets per share
%
6.1
6.2

Yen
2,988.31
2,717.29(3) Consolidated cash flows

Year ended March 31, 2021
Year ended March 31, 2020

Cash flows from
Cash and cash equivalents
at end of period
financing activities
Millions of yen
Millions of yen
5,642
998,813(4,969)564,672

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

Year ended March 31, 2020
Year ended March 31, 2021
Year ending March 31, 2022
(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

%

%

–
–

11.00
11.00

–
–

11.00
12.00

22.00
23.00

4,137
4,325

34.7
30.0

0.8
0.7

–

11.50

–

11.50

23.00

1

29.2

3. Forecast of consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)
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, 2021
Full year

55,700(4.2)

10,500(12.2)

7,100(13.6)

37.99

111,500(4.6)

21,5001.1

14,7001.9

78.66

4. Notes(1) Changes in significant subsidiaries during the year ended March 31, 2021
(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, 2021

195,272,106 shares As of March 31, 2020

195,272,106 shares

Number of treasury shares at the end of the period
As of March 31, 2021

7,213,056 shares As of March 31, 2020

7,212,380 shares

188,059,404 shares Year ended March 31, 2020

188,087,135 shares

Average number of shares during the period
Year ended March 31, 20212

Consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2020

As of March 31, 2021

AssetsCash and due from banks

576,348

1,000,773

Call loans
Monetary claims bought

59,87724,928125,878
21,485

Trading securities
Money held in trust

1,316
27,1001,148
27,3002,339,566
4,899,984

2,618,039
5,135,435

Foreign exchanges
Lease receivables and investments in leases

11,96024,1308,333
24,291Other assets
Tangible fixed assets

140,349
39,460162,723
38,766

Buildings, net
Land

11,72019,725

11,227
19,473

Construction in progress
Leased assets

103
2,328

67
2,082

Other tangible fixed assets
Intangible fixed assets

5,581
3,064

5,915
2,437

Software
Software in progress

2,929
–

1,721
620

135
6,611

94
809

33,413(40,724)

32,031(46,291)

8,147,386

9,153,162

Securities
Loans and bills discounted

Other intangible fixed assets
Deferred tax assets
Customers' liabilities for acceptances and guarantees
Allowance for loan losses
Total assets
Liabilities
Deposits

6,701,781

7,499,830

Negotiable certificates of deposit
Call money

194,963
30,068167,189
71,293

Securities sold under repurchase agreements
Cash collateral received for securities lent

124,704
217,164

129,640
172,747

Commercial papers
Borrowed money

32,611
157,365

54,228286,194

Foreign exchanges
Bonds payable

272
–

289
10,0003,309
119,768

4,857
143,853

Provision for bonuses
Provision for bonuses for directors (and other officers)

1,395
31

1,332
27

Retirement benefit liability
Provision for retirement benefits for directors (and other

18,245

6,624

Borrowed money from trust account
Other liabilities

officers)
Provision for reimbursement of deposits

82

67

642

307

Provision for point card certificates
Reserves under special laws

94
6

88
6

271
33,413

10,35432,031

7,636,192

8,590,965

Deferred tax liabilities
Acceptances and guarantees
Total liabilities

3

(Millions of yen)
As of March 31, 2020

As of March 31, 2021

Net assets
Share capital
Capital surplus

15,1498,153

15,1498,153

Retained earnings
Treasury shares

453,024(9,622)

463,305(9,622)

Total shareholders' equity

466,705

476,985

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

62,987(11,456)

96,574(5,320)Remeasurements of defined benefit plans(7,221)(6,258)

Total accumulated other comprehensive income

44,30884,994179

217

Share acquisition rights
Total net assets
Total liabilities and net assets

4

511,193562,197

8,147,386

9,153,162

Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income(Millions of yen)
Fiscal year ended
March 31, 2020
Ordinary income

Fiscal year ended
March 31, 2021

127,318

116,976

76,431
50,48565,44845,81325,189153

18,871
125

359
244

450
187

Trust fees
Fees and commissions

1
18,9940
18,640

Other ordinary income
Other income

21,78910,101

23,2409,646

310,097

0
9,646

109,854
18,467

95,724
6,904

2,563
32

843
27

284

(124)

3,277

268

658

301

920

173

2,182
–

1,078
35

Other interest expenses
Fees and commissions payments

8,546
4,359

4,300
4,281

Other ordinary expenses
General and administrative expenses

14,182
58,212

14,16257,285

Other expenses
Provision of allowance for loan losses

14,633
6,153

13,091
8,736Interest income
Interest on loans and discounts
Interest and dividends on securities
Interest on call loans
Interest 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
Interest expenses on securities sold under repurchaseagreements
Interest expenses on cash collateral received for securities
lentInterest on commercial papers
Interest on borrowings and rediscounts
Interest on bonds

Other
Ordinary profit
Extraordinary income

8,480

4,354

17,463

21,252

1

2

Gain on disposal of non-current assets
Extraordinary losses

1
641

2
344

Loss on disposal of non-current assets
Impairment losses

32
608

94
249

–

0

Profit before income taxes

16,824

20,910

Income taxes - current
Income taxes - deferred

5,176
(268)

8,332
(1,840)Total income taxes

4,907

6,491

Profit11,916

14,418––

11,916

14,418Provision of reserve for financial instruments transaction
liabilities

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, 2020

March 31, 2021

11,916(33,836)

14,41840,685

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges(30,699)(2,563)33,586
6,136

Remeasurements of defined benefit plans, net of tax

(573)

963

(21,919)

55,104(21,919)

55,104––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, 2020
(Millions of yen)
Shareholders' equity

Balance at beginning of period

Share capital

Capital surplus

15,1498,153

Retainedearnings

Treasury shares

Total
shareholders'equity(9,401)

459,361445,459

Changes during period
Dividends of surplus(4,328)(4,328)

Profit attributable to owners ofparent11,916

11,916

Purchase of treasury shares
Disposal of treasury shares

(23)

(412)

(412)

191

168

Net changes in items other thanshareholders' equity
Total changes during period
Balance at end of period

–

–

7,564

(221)

7,343

15,1498,153

453,024(9,622)466,705

Accumulated other comprehensive income
Valuationdifference on
available-forsale securities
Balance at beginning of period

93,687

Total
Deferred gains Remeasurements accumulatedotheror losses onof definedcomprehensive
hedgesbenefit plansincome(8,893)(6,648)78,145

Shareacquisitionrights311

Total net assets

537,818

Changes during period
Dividends of surplus(4,328)

Profit attributable to owners ofparent11,916

Purchase of treasury shares(412)

Disposal of treasury shares

168

Net changes in items other thanshareholders' equity(30,699)(2,563)(573)(33,836)(131)(33,968)

Total changes during period(30,699)(2,563)(573)(33,836)(131)(26,624)

Balance at end of period

62,987(11,456)(7,221)44,308179

511,193

7

Fiscal year ended March 31, 2021
(Millions of yen)
Shareholders' equity

Balance at beginning of period

Share capital

Capital surplus

15,1498,153

Retainedearnings

Treasury shares

Total
shareholders'equity(9,622)466,705

453,024

Changes during period
Dividends of surplus(4,137)(4,137)

Profit attributable to owners ofparent14,41814,418Purchase of treasury shares
Disposal of treasury shares

(0)

(0)

(0)

0

0

Net changes in items other thanshareholders' equity
Total changes during period
Balance at end of period––

10,280(0)

10,28015,1498,153

463,305(9,622)476,985

Accumulated other comprehensive income
Valuationdifference on
available-forsale securities
Balance at beginning of period

62,987

Total
Deferred gains Remeasurements accumulatedotheror losses onof definedcomprehensive
hedgesbenefit plansincome(11,456)(7,221)44,308

Shareacquisitionrights

179

Total net assets

511,193

Changes during period
Dividends of surplus(4,137)

Profit attributable to owners ofparent14,418Purchase of treasury shares(0)

Disposal of treasury shares0

Net changes in items other thanshareholders' equity

33,586

6,136

963

40,68537

40,723

Total changes during period

33,586

6,136

963

40,68537

51,003

Balance at end of period

96,574(5,320)(6,258)84,994217

562,1978

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, 2020

March 31, 2021
16,824

20,910Depreciation
Impairment losses

4,452
608

4,474
249

Share-based payment expenses
Provision of allowance for doubutful accounts

35
6,153

37
8,736

(8)

(63)

7

(3)

(10,962)(10,234)

(1)

(14)

(353)
(19)

(335)
(6)

(76,431)
18,467(65,448)
6,904

443
(9)

(5,037)(109)

Foreign exchange losses (gains)
Loss (gain) on disposal of non-current assets

5,980
9

(5,163)11

Net decrease (increase) in trading securities
Decrease (increase) in other assets

1,059(12,382)

167(19,468)

Net decrease (increase) in lease receivables and investments
in leases(3,141)(161)

16,590(100,510)

28,207(238,621)

Net increase (decrease) in deposits
Net increase (decrease) in negotiable certificates of deposit

71,60324,851

798,048(27,774)

Net increase (decrease) in borrowed money (excluding
subordinated borrowings)(6,723)

128,828(13,577)(62,557)

(383)

4,935

11,27841,224(160,060)(44,416)

2,286

9,715

Net increase (decrease) in commercial papers
Net decrease (increase) in foreign exchanges - assets(16,106)(2,918)21,617
3,626

Net increase (decrease) in foreign exchanges - liabilities
Net increase (decrease) in borrowed money from trust account(1,437)
549

17
1,548

Interest received
Interest paid

81,119(19,601)

69,155(8,461)

Subtotal(162,306)

660,539(7,053)–(4,088)30(169,359)

656,480

Increase (decrease) in provision for bonuses
Increase (decrease) in provision for bonuses for directors (andother officers)
Increase (decrease) in retirement benefit liability
Increase (decrease) in provision for retirement benefits for
directors (and other officers)
Increase (decrease) in provision for reimbursement of deposits
Increase (decrease) in provision for point card certificatesInterest income
Interest expenses
Loss (gain) related to securities
Loss (gain) on money held in trust

Increase (decrease) in other liabilities
Net decrease (increase) in loans and bills discounted

Net decrease (increase) in call loans
Net increase (decrease) in payables under repurchaseagreements
Net increase (decrease) in call money
Net increase (decrease) in cash collateral received for
securities lent
Net decrease (increase) in due from banks (excluding duefrom Bank of Japan)

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

9

(Millions of yen)

Cash flows from investing activities
Purchase of securities

Fiscal year ended

Fiscal year ended

March 31, 2020

March 31, 2021

(862,548)(949,024)

Proceeds from sale of securities
Proceeds from redemption of securities

570,149
291,041

410,210314,319

Increase in money held in trust
Decrease in money held in trust(7,565)
2,074

(205)
114

Purchase of tangible fixed assets
Proceeds from sale of tangible fixed assets(3,572)71(2,605)18

Purchase of intangible assets

(21)

(820)

(10,370)(227,992)

Issuance of subordinated bonds
Dividends paid–
(4,328)10,000(4,137)Purchase of treasury shares
Repayments of lease obligations

(412)
(228)

(0)
(220)

Proceeds from sale of treasury shares
Proceeds from exercise of employee share options

0
0

0
–

Net cash provided by (used in) financing activities(4,969)

5,642

(9)

10

Net increase (decrease) in cash and cash equivalents(184,709)

434,140

Cash and cash equivalents at beginning of period

749,382564,672

Cash and cash equivalents at end of period

564,672

998,813

Net cash provided by (used in) investing activities
Cash flows from financing activities

Effect of exchange rate change on cash and cash equivalents

10