2021
Annual Report
Year Ended March 31, 2021

The Keiyo Bank, Ltd.

Message from the President

Into the future with solid ties

Toshiyuki Kumagai
President

Please accept my sincere gratitude for your continued patronage and support for the Keiyo Bank.
I would like to offer my heartfelt sympathy to everyone who has been infected with the COVID-19 virus, to the families of theafflicted, and to everyone who has been impacted by the pandemic.
We would like to present our 2021 Keiyo Bank Annual Report, I hope that in viewing it, you will gain a deeper understanding of theKeiyo Bank.
Regional financial institutions currently find themselves in a continued harsh business environment characterized by declining
capital management yields due to prolongation of low-interest policies, and by immediate fears of worsening business performancedue to the COVID-19 pandemic. Moreover, the issues and needs faced by our customers are becoming more diverse andsophisticated year by year against the background of a declining birthrate and aging population, a decrease in population, changes
in lifestyle and advancement of digital technology.
This is the environment in which the Keiyo Bank Group initiated our 19th three-year medium-term business plan 'α ACTION PLAN
2024 - “Further Advancements”' in April of this year. As we advance our ongoing efforts to new stages, we are steadily
implementing our basic strategies of strengthening solution-based business operations, improving productivity while developing
human resources, and bolstering our management foundation introduced in this plan. In doing so, we will create a virtuous cycle ofgrowth together with our regional customers.
In addition, we will engage in management that is mindful of enriching the environment, society and governance (ESG) and of theSustainable Development Goals (SDGs) declared by the United Nations. The executives of Keiyo Bank Group will all pull together
to meet the expectations of all of our stakeholders. We earnestly ask for your continued support in these efforts.
July 2021

1

Corporate Profile

Date of foundation
March 31, 1943

Bussines
locations

Employees
1,997 people

Name:
The Keiyo Bank, Ltd.
Capital:
JPY49.7 billion
Headquarters:
11-11, Fujimi l-chome, Chuo-ku, Chiba City, Chiba, Japan
Chibaminato Headquarters:
5-45 Chiba-minato, Chuo-ku, Chiba City, Chiba, Japan
Total assets: JPY5,547.3 billion
Deposits: JPY4,929.7 billion
Loans:
JPY3,875.6 billion
Capital adequacy ratio:
11.25% (unconsolidated)
11.29% (consolidated) (Domestic starndards)

122 locations

Chiba Prefecture: 118 locations(Including 2 sub-branch offices)Tokyo metropolitan area:
3 locations
Online:1 location
Total:

122 locations(As of March 31, 2021)

Board of Directors and Corporate Auditors

President(Representative Director)

Vice President(Representative Director)

Toshiyuki Kumagai

Kiyoshi HashimotoDirector

Executive Officer

Director Senior Managing Executive Officer
Satoru Akiyama

Executive Officer
Minoru Yoshida
Tomoyuki Kunii
Yasuhiko Suba
Hideaki Ushikawa
Go Fujita
Satoko Watanabe
Seiichiro Matsuki
Shiro Yamazaki

Director Managing Executive Officer
Tatsushi Ichikawa
Kazuo Fujisaki
Seiji Sato
Director (Outside Director)
Yasushi Saito
Katsusada Akiyama
Hiroshi Uchimura
Tomoko Tobe
Executive Officer
Managing Executive Officer
Katsuya Taniai
Hiromi Kosaka

Corporate Auditor
Standing Corporate Auditor
Koichi Takahashi
Kazuhiro Hieda
Corporate Auditor (Outside Corporate Auditor)
Isao Ono
Tsutomu Hanada
Jun-ichi Iwahara
2Summary of Performance Results (non-consolidated)
Balance of deposits(Unit: JPY1 billion)

4,929.7

JPY4,929.7 billion

4,558.4

4,668.2(Annual increase of JPY261.4 billion)0

2019/32020/32021/3

Balance of loans(Unit: JPY1 billion)

3,875.6
3,613.3

JPY3,875.6 billion

3,694.2(Annual increase of JPY181.4 billion)0

2019/32020/32021/3

Ordinary profit

JPY11.5 billion(Unit: JPY1 billion)
Ordinary profit

15.326(Annual increase of JPY3.776 billion)

11.58410.5267.8085.511

Profit

JPY7.3 billion

0Profit7.358

2019/32020/32021/3

10.78

10.85

11.25

2019/32020/32021/3(Annual increase of JPY1.846 billion)

Capital adequacy ratio(%)

11.25%
Domesticstandards(Annual increase of 0.4%)

4%03Individual deposit balance(Unit: JPY1 billion)

3,914.1

JPY3,914.1 billion(Annual increase of JPY226.7 billion)

3,687.4

3,581.80

2019/32020/32021/3

66.44

67.94

65.99

2019/32020/32021/3

OHR(%)

65.99%(Annual decrease of 1.94%)
0※Indicates that the smaller the figure, the higher the efficiency.

Balance of loans to small andmedium-sized companies, etc.
(Unit: JPY1 billion)

JPY3,111.3 billion

3,111.3
2,995.9

2,960.2(Annual increase of JPY115.3 billion)0

2019/32020/32021/3

Balance of housing loans(Unit: JPY1 billion)

1,529.6

JPY1,596.9 billion(Annual increase of JPY67.3 billion)

1,596.9

1,461.80

2019/32020/32021/3Credit rating
The credit rating (long-term obligor rating)for the Keiyo Bank given by S&P GlobalRatings, one of the world’s top three creditrating companies, was “A‒” as of June 30,2021. The credit rating (long-term obligorrating) by Japan Credit Rating Agency
remained “A+” as of June 30, 2021. Bothrating companies gave high ranking
appraisals to the Keiyo Bank.

(S&P Global Ratings)(Japan Credit Rating Agency, Ltd.)AAAAAAAA

A

BBB
BB

A−AA

A

BBB
BB

B

B

CCC

CCC

CC

A＋CCR

CS D・DD(As of June 30, 2021)

4

(Unaudited)

Consolidated Balance Sheets
Unit: Thousands ofU.S. dollars

Unit: JPY milion

FY2019FY2020

FY2020¥¥$※NoteAssets
Cash and due from banks
Trading account securities
Money trustSecurities
Loans and bills discounted
Foreign exchanges
Other assets
Tangible fixed assets
Buildings, netLand
Construction in progress
Other tangible fixed assets
Intangible fixed assets
Software
Software in progress
Other intangible fixed assets
Assets related to retirement benefits
Deferred tax assets
Customers' liabilities for acceptances and guarantees
Allowance for loan losses
Total assets

250,132
3,931−
933,367
3,694,413
3,498
39,74861,31325,38831,059
134
4,731
6,222
1,966
4,056
199
−
6,809
3,940
(12,635)

514,4123,656
2,954
1,047,334
3,875,818
7,739
41,02259,477
23,64230,806
583
4,444
7,886
2,160
5,557
168
1,970
3,197
3,203
(15,643)4,646,481
33,023
26,6829,460,157
35,008,743
69,903
370,535
537,232
213,548
278,258
5,266
40,14071,231
19,51050,194
1,517
17,79428,87728,931(141,297)

4,994,723

5,553,028

50,158,323¥ 4,665,243
17,000−135
15,242
1,307
61
2,507
2
5
799
1,165
363
4,639
3,940
4,712,416¥ 4,926,19985,874
216,600
165
14,569
1,314
60
284
5
2
589
1,023
515
4,570
3,203
5,254,977$ 44,496,423
775,666
1,956,462
1,490
131,596
11,868
542
2,565
45
18
5,320
9,240
4,651
41,27928,93147,466,145¥¥$Liabilities
Deposits
Negotiable certificates of deposit
Borrowed funds
Foreign exchanges
Other liabilities
Provision for bonuses
Provision for bonuses for directors (and other officers)
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 contingent loss
Deferred tax liabilities
Deferred tax liabilities for land revaluation
Acceptances and guarantees
Total liabilities

Net assets
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Valuation difference on available-for-sale securities
Revaluation reserve for landRemeasurements of defined benefit plans
Total accumulated other comprehensive income
Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

49,75939,704
171,957(8,432)
252,989
20,065
7,198(2,744)24,519346
4,451
282,306
4,994,723

49,75939,704
177,123(8,301)
258,286
27,0157,040
451
34,507
312
4,944
298,051
5,553,028

449,453
358,630
1,599,882(74,979)
2,332,996
244,015
63,5894,073
311,6882,818
44,657
2,692,177
50,158,323

Summary of Performance Results (consolidated)
Unit: Thousands of
U.S. dollars

Unit: JPY milion

FY2019FY2020

FY2020※NoteTrends in key indexes
Ordinary income
Ordinary profit
Profit attributable to owners of parentComprehensive income
Total net assets
Total assets
Capital adequacy ratio (Based on standards for a domestically-operating bank)¥

68,0818,182
5,564(8,875)282,306
4,994,723
10.83%¥

62,957
11,987
7,383
18,026
298,051
5,553,028
11.29%$

568,665
108,273
66,687
162,821
2,692,177
50,158,323−※Note: U.S.dollar amounts are shown solely for the purpose of convenience and calculated at the conversion rate of JPY110.71 to USD1.00, the exchange rate prevailing on March 31, 2021.

5

(Unaudited)

Consolidated Statements of (comprehensive) Income
Unit: Thousands ofU.S. dollars

Unit: JPY milion

FY2019FY2020

FY2020※NoteConsolidated Profit-loss Statement
Ordinary income
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
Fees and commissions
Other ordinary income
Other income
Recoveries of written off receivables
OtherOrdinary expenses
Interest expenses
Interest on deposits
Interest on negotiable certificates of deposit
Interest on call money and bills soldInterest on payables under securities lending transactions
Interest on borrowings and rediscounts
Fees and commissions payments
Other ordinary expenses
General and administrative expenses
Other expenses
Provision of allowance for loan losses
Other

¥

Ordinary profit
Extraordinary income
Gain on disposal of non-current assets
Extraordinary losses
Loss on disposal of non-current assets
Impairment loss
Profit before income taxes¥

Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent¥

¥¥¥
¥
¥

68,08147,93036,557
10,81887466
010,849
1,801
7,499
3
7,496
59,899
778
454
2(12)
334
0
4,447
471
37,067
17,134
13,188
3,945
8,182
235
235
329
127
202
8,087
5,514
(3,198)
2,316
5,771
206
5,564

¥

62,957
47,81036,097
11,151(3)564
011,648
988
2,510
2
2,508
¥ 50,970
753
323
2
(5)
433
0
4,377
2,201
36,647
6,991
4,173
2,817
¥ 11,987
95
95
1,217
229
987
¥ 10,866
4,124
(878)
¥3,246
¥
7,620
¥
236
¥
7,383

$

568,665
431,849
326,050
100,722(27)5,094
0
105,211
8,924
22,67118
22,653$ 460,392
6,801
2,917
18(45)
3,911
0
39,53519,880331,018
63,147
37,69325,444$ 108,273
858
858
10,992
2,068
8,915
$
98,14837,250(7,930)$29,319$68,828$2,131$
66,687※Note: U.S.dollar amounts are shown solely for the purpose of convenience and calculated at the conversion rate of JPY110.71 to USD1.00, the exchange rate prevailing on March 31, 2021.

Consolidated Statements of Comprehensive Income
Unit: Thousands ofU.S. dollars

Unit: JPY milionFY2019

FY2020

FY2020※Note

Consolidated Comprehensive Profit Statement
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans, net of tax
Comprehensive income
Comprehensive income attributable to:
Owners of parent
Non-controlling interests

¥

5,771
(14,646)(13,558)(1,088)(8,875)(9,093)
217

¥

7,620
10,406
7,198
3,207
18,026
17,529497$

68,82893,99365,01628,967
162,821
158,332
4,489※Note: U.S.dollar amounts are shown solely for the purpose of convenience and calculated at the conversion rate of JPY110.71 to USD1.00, the exchange rate prevailing on March 31, 2021.

6

The Keiyo Bank, Ltd.
Head Oﬃce11-11, Fujimi 1-chome, Chuo-ku, Chiba City, Chiba 260-0015, Japan
Phone: +81 43 2222121
URL: https://www.keiyobank.co.jp

Treasury And Securities Division International Business Group

5-45, Chiba-Minato, Chuo-Ku, Chiba City, Chiba 260-0026, Japan
Phone: +81 43 3068271
Fax: +81 43 3017004
E-mail: kokusaigyom@keiyobk.jp
SWIFT Code: KEIB JP JT