Annual Report 2020
Year Ended March 31, 2020

Message from the Management
I would like to express my warmest gratitude for yourcontinued support.
The San ju San Financial Group, Inc. has reached theﬁnal year of its First Medium-term Management Plan
（April 2018 to March 2021）, which set forth its corporate
philosophy of Contributing to creating a vibrant future
as a ﬁnancial group which is favorable for clients andgrows along with the region .
This plan is based on the four basic policies of building
relations, oﬀering solutions, increasing eﬃciency andoptimization,andestablishingarobustbusinessfoundation, and we aspire to be the number one regional
ﬁnancial group in terms of quality

by laying a robust

business foundation while promptly realizing and fully
demonstrating the eﬀects of integration.
Furthermore, our subsidiary banks of Mie Bank andDaisan Bank are scheduled to merge in May 2021 subject
to acquisition of approval of the proper authorities, andpreparations for the merger are moving ahead favorably.
I would like to ask for your continued support andpatronage moving forward.
September 2020

Representative Director
and Chairman

Hiroshi Iwama

Representative Director
and President

Mitsunori Watanabe

Name“Wish”
contained in thecompany name

San ju San means that by adding（＋）the respective
strengths of Mie Bank and Daisan Bank, we wish todevelop with the region and contribute to the creationof a vibrant future.

Corporate philosophy

Contributing to creating a vibrant future as a ﬁnancialgroup which is favorable for clients and grows alongwith the region.
Annual Report 2020

2

Logo

Connotations contained within our logo mark
Our logo features two birds based around the motif of the number 33. These two birds signify Mie
Bank and Daisan Bank, and are also representative of members of the community and San ju San
Financial Group. This image of two birds taking ﬂight into the heavens together depicts both the growthof local communities and San ju San Financial Group, as well as a dynamic future.

Corporate Data
Address of Head Office

510 Kyomachi, Matsusaka, Mie

Address of Headquarters

7-8 Nishishinchi, Yokkaichi, Mie

Capital

MATSUSAKA（Head Oﬃce）
YOKKAICHI（Headquarters）
Mie Prefecture

NAGOYA
Aichi Prefecture

OSAKA

TOKYO

JPY 10 billion

Listing Stock ExchangeTokyo Stock Exchange,
Nagoya Stock Exchange

Board Members
Representative Director and Chairman
Representative Director and President
Director
Director
Director and Executive Oﬃcer
Director and Executive Oﬃcer
Director and Executive Oﬃcer
Director and Executive Oﬃcer
Director（Audit Committee Member）
Outside Director（Audit Committee Member）
Outside Director（Audit Committee Member）
Outside Director（Audit Committee Member）
Outside Director（Audit Committee Member）
Outside Director（Audit Committee Member）
Executive Oﬃcer
Executive Oﬃcer
Executive Oﬃcer
Executive Oﬃcer

Hiroshi Iwama
Mitsunori Watanabe
Kenzo Tanikawa
Junji Tanehashi
Atsushi Iguchi
Takahiro Fujita
Hiroki Horiuchi
Yoshiki Kato
Yasutaka Sakamoto
Nobuyoshi Fujiwara
Akihiko Noro
Tsuneaki Furukawa
Hitoshi Tanemura
Sumie Yoshida
Shinji Kataoka
Toshiharu Tsujinaka
Kazuya Kawase
Hisayoshi Hirose

Note 1： Director（Audit Committee Member）Nobuyoshi Fujiwara, Akihiko Noro, Tsuneaki Furukawa, Hitoshi
Tanemura and Sumie Yoshida are outside directors as deﬁned under Article 2（xv）of the Companies Act.（Asof June 19, 2020）

Annual Report 20203

Consolidated Balance Sheets
San ju San Financial Group, Inc. and Consolidated Subsidiaries

March 31, 2020 and 2019

Millions of JP Yen
2020
2019

AssetsCash and Due from Banks
Call Loans and Bills Bought
Monetary Claims Bought
Trading Account Securities
Money Held in Trust
Securities
Loans and Bills Discounted
Foreign Exchanges
Lease Receivables and Investment Assets
Other Assets
Tangible Fixed Assets
Buildings, Net
Land
Leased Assets, Net
Construction in Progress
Other Tangible Fixed Assets
Intangible Fixed Assets
Software
Software in Progress
Leased Assets
Other Intangible Fixed Assets
Retirement Benefit AssetDeferred Tax Assets
Customers' Liabilities for Acceptances and Guarantees
Allowance for Loan Losses

Total Assets￥￥

215,943
725
4,232
1,212
－
879,376
2,709,768
7,758
30,35357,88827,283
8,338
14,484
6
473
3,979
8,640
5,183
3,158
31
266
3,455
652
9,895
（20,252）
3,936,933￥

3,465,927
83,302－
110,51321－
30,152
1,218
942
172
117
318
850
6,034
9,895
3,709,468￥

10,00079,400127,294（327）
216,367
11,359（58）（574）
10,726371
227,465
3,936,933￥

Liabilities

Deposits￥
Negotiable Certificates of Deposit
Payables under Securities Lending Transactions
Borrowed Money
Foreign Exchanges
Bonds with Share Acquisition Rights
Other Liabilities
Provision for Bonuses
Retirement Benefit Liability
Provision for Retirement Benefits for Directors（and Other Officers）
Provision for Share-Based Remuneration
Provision for Reimbursement of Deposits
Provision for Contingent Loss
Deferred Tax Liabilities
Acceptances and Guarantees￥
Total Liabilities

Net Assets

Capital Stock
Capital Surplus
Retained Earnings
Treasury Shares￥

Total Shareholders' Equity

Valuation Difference on Available-for-Sale Securities
Deferred Gains or Losses on Hedges
Remeasurements of Defined Benefit Plans
Total Accumulated Other Comprehensive Income
Non-Controlling Interests

Total Net Assets
Total Liabilities and Net Assets

￥

￥

￥

￥

Thousands of
US Dollars
2020

265,670
856
2,643
1,313
2,342
985,328
2,709,470
7,174
26,42141,807
26,881
8,457
14,818
3
10
3,591
5,851
5,185
351
46
268
4,361
504
11,407（21,068）
4,070,967$

3,523,366
80,00233,061
126,138
26
6,989
26,088
1,243
1,574
136
50
410
850
15,283
11,407
3,826,630$

10,00077,985
125,367（325）
213,027
28,807（151）
309
28,965
2,343
244,336
4,070,967$

Note 1
Because its monetary importance has increased,“Software temporary account”, which was traditionally included in“Software”of“Intangible fixed assets”, has been listed separately starting from this accounting period of consolidation.
Accordingly, this has been changed in the previous accounting period of consolidation.

$$

1,984,223
6,661
38,886
11,136－8,080,271
24,899,090
71,285278,902531,912250,693
76,614133,088
55
4,346
36,561
79,38947,62429,017284
2,444
31,746
5,990
90,921（186,088）
36,175,071
31,847,165
765,432－
1,015,464
192－
277,055
11,191
8,655
1,580
1,075
2,921
7,810
55,44490,921
34,084,976

91,886
729,578
1,169,659（3,004）
1,988,119
104,373（532）（5,274）98,5573,408
2,090,094$ 36,175,071
Exchange Rate
1US$=¥108.83

Annual Report 20204

Consolidated Statements of Income
and Consolidated Statements of Comprehensive Income
San ju San Financial Group, Inc. and Consolidated Subsidiaries
Consolidated Statements of Income
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
Other

￥

Ordinary Expenses

Interest Expenses
Interest on Deposits
Interest on Negotiable Certificates of Deposit
Interest on Call Money and Bills Sold
Interest on Payables under Securities Lending Transactions
Interest on Borrowings and Rediscounts
Other Interest Expenses
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
Gain on Bargain Purchase
Compensation for forced relocation

Extraordinary Losses

Loss on Disposal of Non-Current Assets
Impairment Loss

Profit before Income Taxes
Total Income Taxes
Income Taxes - Current
Income Taxes - Deferred

ProfitProfit Attributable to Non-Controlling Interests

Profit Attributable to Owners of Parent￥

Consolidated Statements of Comprehensive Income
ProfitOther Comprehensive Income

Valuation Difference on Available-for-Sale Securities
Deffered Gains or Losses on Hedges
Remeasurements of Defined Benefit Plans, Net of Tax

Comprehensive Income

Comprehensive Income Attributable to Owners of Parent
Comprehensive Income Attributable to Non-Controlling Interests￥

Years ended March 31, 2020 and 2019

Millions of JP Yen
2020
2019
71,116
69,640￥36,16836,68828,21228,756
7,782
7,731
12
32
113
116
47
51
14,455
14,3782,283
1,638
18,20816,93510
118,19816,93364,93861,856
1,173
1,423
872
987
6
6
（0）
－
3
14
118
101
173
313
4,121
4,192
940
444
39,39038,767
19,312
17,028816
3,460
18,496
13,568
6,178
7,783
491
46,387414
2646,361
－
76
－
131
160
79
25
52
134
6,538
54,011
2,044
1,458
3,697
2,718
（1,653）（1,260）4,493
52,552
342
274
4,151
52,277￥

Millions of JP Yen
2020
2019
4,493
52,552￥
1,822（18,209）2,156（17,417）
93
177
（884）
（511）
54,375（13,715）54,311（14,087)371
64

Thousands of
US Dollars
2020
653,459$
332,334
259,22971,506
110
1,038
431
132,821
20,977
167,30691
167,214596,692
10,778
8,012
55
（0）
27
1,084
1,589
37,866
8,637
361,940
177,451
7,497
169,953
56,767
4,511
3,804
－
698
1,203
725
477
60,07518,781
33,970（15,188）
41,284
3,142
38,142$
Exchange Rate
1US$=¥108.83
Thousands of
US Dollars
2020
41,284$(167,315）(160,038）
854（8,122）(126,022）(129,440）
3,408
Exchange Rate
1US$=¥108.83

Annual Report 20205

Consolidated Balance Sheets
THE MIE BANK, LTD. and Consolidated Subsidiaries

March 31, 2020 and 2019
Thousands of
US Dollars
2020

Millions of JP Yen
2020
2019

AssetsCash and Due from Banks￥

96,102￥

141,923$

883,216

Call Loans and Bills Bought

725

856

6,664

Monetary Claims Bought

4,232

2,643

38,899Trading Account Securities
Securities
Loans and Bills Discounted

92

81

845

384,468

427,977

3,533,397
12,922,554

1,406,103

1,391,464

Foreign Exchanges

1,778

2,030

16,343

Lease Receivables and Investments in Leases

16,87814,084

155,121

Other Assets

38,05331,038349,726

Tangible Fixed Assets

10,387

10,381

95,467

Buildings, Net

5,221

5,159

47,986

Land

3,437

3,456

31,587

55
1,674

10
1,755

15,386

4,160

2,868

38,235

Software

2,414

2,354

22,190Software in Progress

1,562

329

14,355

183

185

1,689

3,455

4,361

31,754

Construction in Progress
Other Tangible Fixed Assets
Intangible Fixed Assets

Other Intangible Fixed Assets
Retirement Benefit AssetDeferred Tax Assets
Customers' Liabilities for Acceptances and Guarantees
Allowance for Loan Losses

Total Assets

Liabilities
Deposits

506

403

390

3,704

8,450

9,858

77,667￥（7,690）1,967,603￥（7,639）2,032,320$（70,674）
18,082,924￥

1,687,013￥

1,709,619$

15,504,213

Negotiable Certificates of Deposit

79,90275,702

734,325

Payables under Securities Lending Transactions－
48,93833,061－
449,756

Borrowed Money
Foreign Exchanges

43,1592

26

22

14,677

15,833

134,894

Provision for Bonuses

543

540

4,995

Retirement Benefit Liability

130

130

1,203

Provision for Executive Officers' Retirement Benefits

95

85

881

Provision for Share-Based Remuneration

52

23

480

Provision for Reimbursement of Deposits

147

196

1,355

4,905
8,450

10,6299,858

45,082
77,667

Other Liabilities

Deferred Tax Liabilities
Acceptances and Guarantees

Total Liabilities

Net Assets

Share Capital￥

1,844,860￥

1,898,866$

16,954,879￥

15,295￥

15,295$140,570

Capital Surplus
Retained Earnings

Total Shareholders' Equity

Valuation Difference on Available-for-Sale Securities
Deferred Gains or Losses on Hedges
Remeasurements of Defined Benefit Plans
Total Accumulated Other Comprehensive Income
Non-Controlling Interests

Total Net Assets
Total Liabilities and Net Assets￥

11,256
81,215

11,25678,032

103,455
746,395

107,767

104,584

990,420

14,81927,978136,195（58）（157）
14,603

（151）
688

（538）
（1,446）134,21028,515

371

354

3,414

122,742
1,967,603

133,454
2,032,320

1,128,045
18,082,924￥

Note 1
Because its monetary importance has increased,“Software temporary account”, which was traditionally included in“Software”of“Intangible fixed assets”, has been listed separately starting from this accounting period of consolidation.
Accordingly, this has been changed in the previous accounting period of consolidation.

$
Exchange Rate
1US$=¥108.81

Annual Report 20206

Consolidated Statements of Income
and Consolidated Statements of Comprehensive Income
THE MIE BANK, LTD. and Consolidated Subsidiaries

Millions of JP Yen
2020
2019

Consolidated Statements of Income
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
Other

￥

Ordinary Expenses

Interest Expenses
Interest on Deposits
Interest on Negotiable Certificates of Deposit
Interest on Payables under Securities Lending Transactions
Interest on Borrowings and Rediscounts
Other Interest Expenses
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
Compensation for Forced Relocation

Extraordinary Losses

Loss on Disposal of Non-Current Assets
Impairment Loss

Profit before Income Taxes
Total Income Taxes
Income Taxes - Current
Income Taxes - Deferred

ProfitProfit（Loss）Attributable to Non-Controlling Interests

Profit Attributable to Owners of Parent￥

Valuation Difference on Available-for-Sale Securities
Deffered Gains or Losses on Hedges
Remeasurements of Defined Benefit Plans, Net of Tax

Comprehensive Income

Comprehensive Income Attributable to Owners of Parent
Comprehensive Income Attributable to Non-Controlling Interests

36,103
17,32013,473
3,732
12
74
27
7,066
995
10,7210
10,72129,803
637
411
6
2
63
154
1,638
30
19,252
8,243
370
7,873
6,299
76
0
76
30
15
15
6,345
2,175
1,947
227
4,169
18
4,151

￥

￥

35,822
17,27813,525
3,616
32
77
25
7,070
1,315
10,1580
10,15830,757
789
427
5
13
45
298
1,590
8
18,749
9,618
2,817
6,800
5,065
1
1
－
135
5
129
4,931
1,378
2,074
（696）
3,553
（1）
3,554

Millions of JP Yen
2020
2019

Consolidated Statements of Comprehensive Income
ProfitOther Comprehensive Income

Years ended March 31, 2020 and 2019

￥

4,169
（13,912）（13,159）
93（845）（9,742）（9,759）
17

￥

3,553
1,588
1,543
177
（132）
5,141
5,137
3

Thousands of
US Dollars
2020$

331,800
159,177
123,823
34,299113
688
252
64,9399,146
98,536
4
98,531
273,906
5,861
3,778
55
23
579
1,423
15,059281
176,938
75,764
3,408
72,35657,894
704
0
703
284
142
142
58,31319,99017,902
2,088
38,322
165
38,157$
Exchange Rate
1US$=¥108.81
Thousands of
US Dollars
2020$

38,322（127,859）（120,942）
855（7,772）（89,537）（89,696）
159
Exchange Rate
1US$=¥108.81

Annual Report 20207

Consolidated Balance Sheets
THE DAISAN BANK, LTD. and Consolidated Subsidiaries

March 31, 2020 and 2019

Millions of JP Yen
2020
2019

AssetsCash and Due from Banks
Trading Account Securities
Money Held in Trust
Securities
Loans and Bills Discounted
Foreign Exchanges
Other Assets
Tangible Fixed Assets
Buildings, Net
Land
Leased Assets, Net
Construction in Progress
Other Tangible Fixed Assets
Intangible Fixed Assets
Software
Software in Progress
Leased Assets
Other Intangible Fixed Assets
Deferred Tax Assets
Customers' Liabilities for Acceptances and Guarantees
Allowance for Loan Losses

Total Assets￥

119,792
1,120－
494,907
1,298,395
5,980
33,021
23,6494,308
16,609
6
418
2,305
4,476
2,768
1,596
31
79
372
1,444

￥

（6,615）
1,976,545

Liabilities

Deposits￥
Negotiable Certificates of Deposit
Borrowed Money
Foreign Exchanges
Other Liabilities
Provision for Bonuses
Provision for Directors' Bonuses
Retirement Benefit Liability
Provision for Share-Based Remuneration
Provision for Retirement Benefits for Directors（and Other Officers）
Provision for Reimbursement of Deposits
Provision for Contingent Loss
Deferred Tax Liabilities
Deferred Tax Liabilities for Land Revaluation Excess
Acceptances and Guarantees￥
Total Liabilities

Net Assets

Capital Stock
Capital Surplus
Retained Earnings￥

Total Shareholders' Equity

Valuation Difference on Available-for-Sale Securities
Land Revaluation Excess
Remeasurements of Defined Benefit Plans

Total Accumulated Other Comprehensive Income
Non-Controlling interests
Total Net Assets
Total Liabilities and Net Assets￥

1,779,718
3,400
62,30019
15,390
648
8
811
65
29
171
610
－
2,587
1,444
1,867,206

37,461
34,252
24,492
96,206
10,580
3,522

￥

$

￥
￥

￥
￥

￥

（7,970）2,046,016

1,821,530
4,300
83,674－
10,137
676
8
1,443
27
21
214
628
3,403
2,637
1,549
1,930,253

37,461
32,837
21,90992,207
18,985
3,622（1,044）
21,564
1,990
115,7632,046,016

1,100,725
10,291－
4,547,523
11,930,487
54,948303,418
217,30239,584
152,61455
3,840
21,17941,12825,434
14,665
284
725
3,418
13,268

－
1,835
2,979
2,831
22
46
79
95
1,549

（970）
13,132－
109,338
1,976,545

123,7101,231
2,342
557,350
1,313,200
5,139
22,85423,531
4,612
17,0793

Thousands of
US Dollars
2020

$
$

$
$

（60,782）
18,161,766

16,353,193
31,241
572,452
174
141,413
5,954
73
7,451
597
266
1,571
5,605
－
23,771
13,26817,157,089

344,215314,729
225,048
884,002
97,21532,362（8,912）
120,665－
1,004,667$ 18,161,766
Exchange Rate
1US$=¥108.83

Annual Report 20208

Consolidated Statements of Income
and Consolidated Statements of Comprehensive Income
THE DAISAN BANK, LTD. and Consolidated Subsidiaries

Thousands of
US Dollars
2020

Millions of JP Yen
2020
2019

Consolidated Statements of Income
Ordinary Income

Years ended March 31, 2020 and 2019￥

Interest Income

37,36519,985￥37,452
21,647$343,333
183,635

Interest on Loans and Discounts

14,742

15,234135,458

Interest and Dividends on Securities

5,183

6,348

47,624

Interest on Deposits with Banks

38

38

349

Other Interest Income

20

25

183

Fees and Commissions

7,401

7,317

68,005

Other Ordinary Income

2,109

1,042

19,378Other Income

7,869

7,444

72,305

10
7,859

1
7,443

91
72,213

Ordinary Expenses

32,336538

31,752
637

297,123
4,943

Interest on Deposits

460

560

4,226

0

0

0

Interest on Payables under Securities Lending Transactions

（0）
0

－
1

（0）
0

Interest on Borrowings and Rediscounts

58

59

532

Other Interest Expenses

18

15

165

2,488

2,603

22,861

Recoveries of Written Off Receivables
Other
Interest Expenses

Interest on Negotiable Certificates of Deposit
Interest on Call Money and Bills Sold

Fees and Commissions Payments
Other Ordinary Expenses

1,017

428

9,344

General and Administrative Expenses

20,567

20,394

188,982

Other Expenses

7,724

7,688

70,973

513
7,211

699
6,988

4,713
66,259Ordinary Profit
Extraordinary Income

5,028

5,700

46,200

461
461

5
5

4,235
4,235

Extraordinary Losses

302
64

73
20

2,774
588

237
5,187

53
5,631

2,177
47,661

1,093
1,734

895
627
268

10,043
15,933

Provision of Allowance for Loan Losses
Other

Gain on Disposal of Non-Current Assets
Loss on Disposal of Non-Current Assets
Impairment Loss

Profit before Income Taxes
Total Income Taxes
Income Taxes - Current
Income Taxes - Deferred

（641）
4,094

ProfitProfit Attributable to Non-Controlling Interests

Profit Attributable to Owners of Parent￥

Valuation Difference on Available-for-Sale Securities
Remeasurements of Defined Benefit Plans, Net of Tax

Comprehensive Income

Comprehensive Income Attributable to Owners of Parent
Comprehensive Income Attributable to Non-Controlling Interests

￥

445
4,290

Millions of JP Yen
2020
2019

Consolidated Statements of Comprehensive Income
ProfitOther Comprehensive Income

355
3,739

￥

4,094

（5,889）37,618

4,736

￥

4,736

3,261
34,356$
Exchange Rate
1US$=¥108.83
Thousands of
US Dollars
2020$

37,618（8,332）（1,890）（76,559）（8,406）73（77,239）670（4,238）（1,626）
（263）
2,845

（38,941）（4,592）
354

2,618
227

（42,194）
3,252
Exchange Rate
1US$=¥108.83

Annual Report 2020

9

San ju San Financial Group, Inc.
Head Office : 510 Kyomachi, Matsusaka, Mie,515-8530,Japan
TEL : +81-598-21-3303
Headquarters : 7-8 Nishishinchi, Yokkaichi, Mie,510-0087,Japan
TEL : +81-59-357-3355
URL : https://www.33fg.co.jp

THE MIE BANK,LTD.

7-8 Nishishinchi, Yokkaichi, Mie,510-0087,Japan
TEL : +81-59-353-3111
URL : https://www.miebank.co.jp
E-mail : kikaku@miebank.co.jp

THE DAISAN BANK,LTD.
510 Kyomachi, Matsusaka, Mie,515-8530,Japan
TEL : +81-598-25-0377
URL : https://www.daisanbank.co.jp
E-mail : kokusai@daisanbank.co.jp