|
|
Income
For the year ended March 31, 2004, consolidated total income increased ¥5,891 million (6.9 percent) year-on-year to ¥91,028 million, due to factors including higher fund management income due to increased investment in securities. Total expenses decreased ¥354 million (0.4 percent) year-on-year to ¥79,377 million, because of factors including a reduction in operating expenses. Net income increased ¥3,957 million (170.5 percent) year-on-year to ¥6,278 million.
| Net Interest Margin (Non-Consolidated) |
| |
Millions of yen |
| |
2004 |
2003 |
Increase
(decrease) |
| Interest income |
¥ 63,284 |
|
¥ 60,201 |
|
¥ 3,082 |
|
| Average interest-earning assets |
3,447,455 |
|
3,380,589 |
|
66,866 |
|
| Average interest rate of interest-earning assets (%) |
1.83 |
|
1.78 |
|
0.05 |
|
| Interest expense |
5,151 |
|
5,853 |
|
(701 |
) |
| Average interest-bearing liabilities |
3,340,396 |
|
3,268,619 |
|
71,777 |
|
| Average interest rate of interest-bearing liabilities (%) |
0.15 |
|
0.17 |
|
(0.02 |
) |
| Net interest income |
58,132 |
|
54,348 |
|
3,784 |
|
| Funding cost (%) |
1.37 |
|
1.46 |
|
(0.09 |
) |
| Net interest margin (%) |
0.46 |
|
0.32 |
|
0.14 |
|
| |
|
| Note: |
Figures for average interest-bearing liabilities are presented after deducting the average outstanding balance of moneyheld in trust and interests. |
|
|
Deposits
As of March 31, 2004, total deposits, including negotiable deposits, decreased ¥17,866 million (0.5 percent) from a year earlier to ¥3,281,148 million, despite an increase in corporate deposits. Factors in the decrease included the transfer of deposits into deposit assets such as investment trusts and national government bonds.
| Deposits by Depositor (Non-Consolidated) |
| |
Millions of yen |
| |
2004 |
2003 |
Increase
(decrease) |
| Individuals |
¥ 2,500,547 |
|
¥ 2,520,332 |
|
¥ (19,785 |
) |
| Corporations |
598,452 |
|
579,175 |
|
19,276 |
|
| Local governments |
160,202 |
|
172,308 |
|
(12,106 |
) |
| Financial institutions |
23,578 |
|
28,326 |
|
(4,747 |
) |
| Total |
3,282,781 |
|
3,300,143 |
|
¥ (17,361 |
) |
| |
 |
Loans
Despite an increase in loans to individuals, mainly housing loans, the balance of loans and bills discounted at the end of the fiscal year decreased ¥37,228 million (1.8 percent) from a year earlier to ¥1,984,674 million. This was mainly due to decreases in loans to corporations and the public sector, reflecting weaker demand for capital. |
| Loans to Individuals (Non-Consolidated) |
| |
Millions of yen |
| |
2004 |
2003 |
2002 |
2001 |
2000 |
2004/2003
Increase
(decrease) |
|
| Balance of loans to individuals |
¥528,168 |
|
¥495,858 |
|
¥486,570 |
|
¥468,165 |
|
¥473,747 |
|
¥32,309 |
|
|
| Balance of loans to individuals in the region |
527,992 |
|
495,659 |
|
486,447 |
|
467,999 |
|
473,328 |
|
32,332 |
|
|
| Number of borrowers |
124,121 |
|
126,946 |
|
126,740 |
|
127,486 |
|
131,073 |
|
(2,825 |
) |
|
| Number of borrowers in the region |
124,036 |
|
126,853 |
|
126,645 |
|
127,380 |
|
130,946 |
|
(2,817 |
) |
|
| Loans to individuals as a percentage of total loans |
26.5 |
% |
24.5 |
% |
24.3 |
% |
24.0 |
% |
24.7 |
% |
2.1 |
|
point |
Loans to individuals in the region as a
percentage of total loans in the region |
30.2 |
|
28.3 |
|
28.6 |
|
27.3 |
|
27.9 |
|
1.9 |
|
|
| |
|
| Consumer Loans (Non-Consolidated) |
| |
Millions of yen |
| |
2004 |
2003 |
2002 |
2001 |
2000 |
2004/2003
Increase
(decrease) |
|
| Consumer loans |
¥483,502 |
|
¥447,261 |
|
¥435,300 |
|
¥413,091 |
|
¥414,964 |
|
¥36,241 |
|
|
| Housing loans |
384,674 |
|
336,844 |
|
315,473 |
|
284,468 |
|
276,263 |
|
47,830 |
|
|
| Securities Other |
98,827 |
|
110,416 |
|
119,827 |
|
128,622 |
|
138,701 |
|
(11,589 |
) |
|
| |
|
| Loans to Small and Medium-sized Companies (Non-Consolidated) |
| |
Millions of yen |
| |
2004 |
2003 |
2002 |
2001 |
2000 |
2004/2003
Increase
(decrease) |
|
| Balance of loans to small and medium-sized companies |
¥901,335 |
|
¥955,746 |
|
¥969,191 |
|
¥987,105 |
|
¥974,180 |
|
¥(54,411 |
) |
|
| Balance of loans to small and medium-sized companies in the region |
867,142 |
|
926,486 |
|
948,368 |
|
973,801 |
|
957,983 |
|
(59,343 |
) |
|
| Number of borrowers |
16,140 |
|
17,533 |
|
18,742 |
|
19,664 |
|
20,831 |
|
(1,393 |
) |
|
| Number of borrowers in the region |
16,091 |
|
17,482 |
|
18,686 |
|
19,614 |
|
20,774 |
|
(1,391 |
) |
|
| Loans to small and medium-sized companies as a percentage of total loans |
45.3 |
% |
47.1 |
% |
48.3 |
% |
50.6 |
% |
50.9 |
% |
(1.8 |
) |
point |
Loans to small and medium-sized companies in the
region as a percentage of total loans in the region |
49.6 |
|
52.9 |
|
55.7 |
|
56.8 |
|
56.5 |
|
(3.3 |
) |
|
| |
|
|
| Note: |
1. |
The above amounts do not include loans from Japan offshore market accounts. |
| |
2. |
Small and medium-sized companies are classified as those having capital of ¥300 million or less (¥100 million or less in the wholesale industry; ¥50 million or less in the retail and service industries) or those having 300 or fewer employees (100 or fewer in the wholesale industry; 50 or fewer in the retail industry and 100 or fewer in the service industry) and include businesses run by individuals. |
|
| |
| Outstanding Loans by Industry (Non-Consolidated) |
| |
2004 |
|
2003 |
| |
Outstanding balance
(Millions of yen) |
Number of borrowers |
|
Outstanding balance
(Millions of yen) |
Number of borrowers |
| |
Total |
Total in the
region |
Total |
Total in the
region |
|
Total |
Total in the
region |
Total |
Total in the
region |
| |
1,990,290 |
1,748,580 |
140,750 |
140,430 |
|
2,027,957 |
1,752,441 |
144,940 |
144,618 |
| Manufacturing |
343,187 |
244,641 |
3,331 |
3,223 |
|
359,468 |
257,430 |
3,586 |
3,479 |
| Agriculture |
2,362 |
2,362 |
176 |
176 |
|
2,412 |
2,412 |
186 |
186 |
| Forestry |
5,953 |
5,953 |
76 |
76 |
|
5,877 |
5,877 |
89 |
89 |
| Fishery |
4,398 |
4,398 |
215 |
215 |
|
5,163 |
5,163 |
243 |
243 |
| Mining |
3,436 |
2,056 |
34 |
32 |
|
4,437 |
3,056 |
36 |
34 |
| Construction |
109,429 |
109,128 |
2,924 |
2,923 |
|
119,832 |
119,511 |
3,269 |
3,267 |
| Utilities |
22,289 |
18,826 |
56 |
53 |
|
23,799 |
20,133 |
61 |
58 |
| Telecommunication |
19,902 |
9,671 |
148 |
145 |
|
19,706 |
9,370 |
149 |
145 |
| Communication |
12,551 |
2,351 |
13 |
11 |
|
12,833 |
2,532 |
12 |
10 |
| Transportation |
75,013 |
62,319 |
519 |
510 |
|
68,886 |
60,812 |
551 |
546 |
| Wholesale |
142,533 |
125,439 |
1,391 |
1,367 |
|
152,361 |
133,498 |
1,530 |
1,506 |
| Retail |
142,669 |
136,655 |
2,514 |
2,501 |
|
152,596 |
145,423 |
2,844 |
2,830 |
| Finance & Insurance |
69,638 |
15,753 |
97 |
61 |
|
67,347 |
16,360 |
103 |
68 |
| Real estate |
135,112 |
124,910 |
1,080 |
1,072 |
|
123,942 |
114,963 |
1,028 |
1,022 |
| Service industries |
241,016 |
213,282 |
4,005 |
3,977 |
|
241,478 |
217,972 |
4,254 |
4,228 |
| Restaurant |
15,906 |
15,531 |
785 |
781 |
|
18,109 |
17,501 |
891 |
888 |
| Local government |
145,180 |
145,180 |
63 |
63 |
|
184,789 |
144,788 |
65 |
64 |
| Other |
528,168 |
527,990 |
124,121 |
124,036 |
|
495,858 |
495,657 |
126,946 |
126,853 |
| |
|
|
|
|
|
|
|
|
|
 |
Investment Securities
The balance of investment securities increased ¥133,964 million (11.2 percent) from a year earlier to ¥1,326,236 million.
Capital Adequacy Ratio
Hyakugo Bank applies domestic standards for determining capital adequacy. As of March 31, 2004, the Bank’s capital adequacy ratio based on domestic standards was 9.70 percent, and the Tier I capital ratio 7.98 percent. Calculated using BIS standards, the capital adequacy ratio was 11.51 percent. On a non-consolidated basis, the capital adequacy ratio based on domestic standards was 9.57 percent, and the Tier I ratio was 7.83 percent. Using BIS standards, the non-consolidated capital adequacy ratio was 11.40 percent.
| |
Millions of yen |
| |
Consolidated |
Non-Consolidated |
| March 31 |
2004 |
2003 |
2004 |
2003 |
| Tier I: |
|
|
|
|
| Common stockholders’ equity |
¥ 150,513 |
¥ 145,064 |
¥ 148,852 |
¥ 141,081 |
| Total Tier I capital |
150,513 |
145,064 |
145,852 |
141,081 |
| Tier II: |
|
|
|
|
| Premises revaluation account, after 55% discount |
3,784 |
3,802 |
3,784 |
3,802 |
| Reserve for possible loan losses |
11,779 |
11,692 |
11,629 |
11,549 |
| Total Tier II capital |
32,564 |
30,495 |
32,414 |
30,352 |
| Deduction from capital |
101 |
101 |
101 |
101 |
| Total capital |
182,976 |
175,458 |
178,165 |
171,332 |
| Total risk-adjusted assets |
1,884,714 |
1,870,841 |
1,860,708 |
1,847,947 |
| Capital adequacy ratio (%) |
9.70 |
9.37 |
9.57 |
9.27 |
|
Total Stockholders’ Equity
Total stockholders’ equity at March 31, 2004 increased ¥20,427 million (11.2 percent) from a year earlier to ¥203,476 million. Unrealized gain on available-for-sale securities, less deferred tax liabilities, increased ¥15,445 million from a year earlier to ¥50,767 million, which was accounted for in stockholders’ equity as net unrealized gains on available-for-sale securities.
|
Cash Flows
Net cash provided by operating activities increased ¥35,741 million, reflecting a decrease in loans and bills discounted and other factors. Net cash used in investing activities decreased ¥151,788 million, mainly due to purchases of investment securities. Net cash provided by financing activities increased ¥728 million due to proceeds from subordinated loans. As a result, cash and cash equivalents at the end of the year decreased ¥115,339 million from a year earlier to ¥129,073 million.
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