MEBUKI FINANCIAL GROUP,INC. Financial Results
for the First Quarter of FY2023
August 4, 2023
Financial Results for 1Q23
Highlights | 2 |
1Q23 Financial Results | 3 |
Change of Ordinary Profit (Bank Total non-consolidated) | 4 |
Growth of Profit from Customer Services | 5 |
Loans (Balance/ Individual and Corporate) | 6～7 |
Average Yield of Loans / Net Interest Income | 8 |
Deposit | 9 |
Customer Assets under Custody / Fees from Corporate Customers | 10～11 |
Securities / Strategic Shareholdings | 12 |
Expenses / OHR | 13 |
Credit Related Cost | 14 |
Status of Non-performing Loans and Delinquent Loans | 15 |
Shareholder Returns/ Capital Adequacy Ratio | 16 |
Forecast for FY2023 | 17～18 |
【Reference】 Financial Data for 1Q23 | 20～24 |
＊Unless otherw ise mentioned, figures are based on banking subsidiaries (non consolidated-basis).＊The number used for the year is based on w estern calendar.
1
Highlights
Results for 1Q23
Results for 1Q23 | YoY Change | Progress | ||
Profit from customer services*1 | 11.0bn | +1.3bn | - | |
Core net business income*2 | （Banks' total） | 18.2bn | -4.8bn | - |
Credit related costs | -0.1bn | -0.3bn | - | |
Gains/losses on securities *3 | 2.5bn | +4.9bn | - | |
Net income attributable to owners of | (Consolidated ) | 15.6bn | +0.2bn | 39.0% |
the parent | ||||
- Profit from customer services *1, the core business, maintained increasing trend mainly due to the increase of deference of interests between loans and deposits.
- Credit related costs remained stable and net income attributable to owners of the parent increased from the previous year.
- As for investments in securities, although securities income (interest margin) decreased due to an increase in foreign currencies funding cost, we reduced a portion of our securities portfolio and
recorded a gain on the sale of securities based on rising domestic stock market conditions, etc.
*1 Difference of interests between loans and deposits＋Fees from Customers＋Expenses（-） *2 Excluding gains/losses on cancellation of investment trusts and futures and options
*3 Gains/losses on "Bond transactions +Related to stocks+Cancellation of investment trusts + Futures and options"
Forecast for FY23 (announced on May 12, 2023)
Forecast for FY23 | YoY Change | ||
Net income attributable to owners of | (Consolidated ) | 40.0bn | +7.8bn |
the parent | |||
2
Main Points of １Q23 Financial Results | (bn) | ||||||||||||
(bn) | 1Q23 | YoY | |||||||||||
【Joyo + Ashikaga (Non-consolidated)】 | |||||||||||||
Results | Progress | ||||||||||||
1Q23 | chg | ||||||||||||
【Mebuki FG (Consolidated)】 | YoY | ||||||||||||
Results | Progress | Gross business profit | 42.6 | +6.7 | - | ||||||||
Chg | |||||||||||||
Net interest income | 36.3 | -5.6 | - | ||||||||||
Gross Business profit | 44.5 | 6.8 | - | ||||||||||
(o/w Gains/losses on cancellation of investment trusts)(1) | (1.2) | (-1.3) | - | ||||||||||
Net interest income | 35.9 | -5.3 | - | ||||||||||
(o/w Deference of interests betw een loans | (28.1) | (+1.9) | - | Net interest income | 35.0 | -4.2 | |
(excl.Gains/losses on cancellation of investment trusts) | |||||||
and deposits) | |||||||
Net fees and commissions | 11.2 | +0.3 | - | (o/w Deference of interests between loans and deposits(2)) | (27.8) | (+1.9) | - |
Net trading income | 0.1 | -0.6 | - | (o/w Securities Income) | (7.1) | (-6.2) | - |
Net other business income | -2.8 | 12.5 | - | Net fees and commissions(3) | 9.0 | -0.1 | - |
Expenses | 27.1 | -0.0 | - | Net other business income | -2.7 | +12.5 | - |
(o/w gains/losses on bond transactions) (4) | (-7.5) | (+8.3) | - | ||||
Credit related cost | 0.4 | -0.1 | - | ||||
(o/w gains/losses on futures and options) (5) | (4.0) | (+4.5) | - | ||||
Gains/losses related to stocks | 4.6 | -6.5 | - | ||||
(o/w other income related to customers) (6) | (0.7) | (-0.3) | - | ||||
Ordinary profit | 22.0 | +0.3 | 38.4% | ||||
Expenses(7) | 26.6 | +0.1 | - | ||||
Extraordinary income/losses | 0.0 | -0.0 | - | ||||
Net business income | 16.0 | +6.6 | - | ||||
Net income attributable to owners of | (before general allowance for loan losses) | ||||||
15.6 | +0.2 | 39.0% | 23.6 | -1.7 | - | ||
the parent | Core net business income | ||||||
(excl. gains/losses on cancellation of investment trusts) | 22.3 | -0.3 | - | ||||
1Q23 | Core net business income | 18.2 | -4.8 | - | |||
(excl. gains/losses on cancellation of investment trusts and futures | |||||||
Results | YoY | ||||||
and options) | |||||||
Bank Total Net income (a) | 14.9 | +0.2 | Net transfer to general allowance for loan losses (8) | - | - | - | |
Group Companies Net income (b) | 1.1 | -0.2 | Net business income | 16.0 | +6.6 | - | |
Net non-recurrent gains/losses | 4.9 | -6.3 | - | ||||
Mebuki Lease | 0.2 | -0.0 | |||||
(o/w Disposal of non-performing loans (9)) | (-0.1) | (-0.3) | - | ||||
Mebuki Securities | 0.1 | -0.1 | |||||
(o/w Gains/losses related to stocks, etc. (10)) | (4.6) | (-6.5) | - | ||||
Mebuki Credit Guarantee | 0.5 | -0.0 | |||||
Ordinary profit | 21.0 | +0.3 | 38.2% | ||||
Mebuki Card | 0.1 | -0.0 | |||||
Extraordinary income/losses | 0.0 | -0.0 | |||||
Total of banking subsidiaries | 0.0 | +0.0 | |||||
Net income | 14.9 | +0.2 | 38.8% | ||||
Consolidation Adjustment*1 （c） | -0.4 | +0.2 | Profit from customer services (2)+(3)+(6)-(7) | 11.0 | +1.3 | ||
Net income attributable to owners of | |||||||
15.6 | +0.2 | Credit related cost (8)+(9) | -0.1 | -0.3 | |||
the parent （a）+（b）+（c） | |||||||
Gains/losses on securities (1)+(4)+(5)+(10) | 2.5 | +4.9 | |||||
*1 Adjustments related to securities, etc. | |||||||
3
Change of Ordinary Profit (Bank Total)
Ordinary profit (bank total) increased by ￥0.3bn.
Profit from customer services, the core business, increased by ￥1.3bn driven by the increase of deference of interests between yen and foreign currency denominated loans and deposits.
Year -on-Year Changes of Ordinary Profit (Bank total) (bn)
Profit from customer | |||
Increase | Decrease | ||
services*1 | |||
Deference of | |||
+¥1.3 bn YoY | |||
interests |
between loans | Fee from | ||||||||
and deposits | customers | Expenses | Security | Net non- | |||||
+1.9 | -0.4 | （-） | |||||||
margins | recurrent | ||||||||
+0.1 | Ordinary | ||||||||
Ordinary | -6.2 | Gains | Credit related | gains | |||||
/losses | profit | YoY | |||||||
/losses on | costs （-） | ||||||||
profit | -0.1 | ||||||||
securities*2 | -0.3 | ¥21.0bn | ＋0.3bn | ||||||
¥20.7bn | +4.9 | ||||||||
（Breakdown） | |||||||||
Fee from corporate customers | -1.2 | ||||||||
Customer assets related | +0.0 | （Breakdown） | |||||||
Derivative CVA | +1.1 | Gains/losses on | |||||||
Dividends related to mortgage | bond transactions | +8.3 | |||||||
group credit insurance, etc. | -0.3 | related to stocks | -6.5 | ||||||
cancellation of | |||||||||
（Breakdown） | investment trusts | -1.3 | |||||||
futures and options | +4.5 | ||||||||
Yen denominated loans | +0.6 | ||||||||
Foreign currency | |||||||||
denominated loans | +1.6 | ||||||||
Yen denominated | |||||||||
deposits(-) | -0.0 | ||||||||
Foreign currency | |||||||||
denominated deposits(-) +0.3 |
1Q22 | *1 | Difference of interests between loans and deposits＋Fees from Customers＋Expenses（-） | 1Q23 |
*2 | Gains/losses on "Bond transactions +Related to stocks + Cancellation of investment trusts + Futures and options | 4 |
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Disclaimer
Mebuki Financial Group Inc. published this content on 04 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2023 06:27:15 UTC.
