ANNUAL REPORT Fiscal Year Ended March 31, 2011

Transcription

1 ANNUAL REPORT 2011 Fiscal Year Ended March 31, 2011

2 The Daisan Bank, Ltd. and Consolidated Subsidiaries Consolidated Financial Statements Years ended March 31, 2011 and 2010 Contents Message from the Chairman and President... 1 Consolidated Balance Sheets... 2 Consolidated Statements of Income and Consolidated Statements of Comprehensive Income... 3 Directors, Corporate Auditors and s... 4 Bank Data... 4 Bank Network... 4

3 Message from the Chairman and President We would like to extend our heartfelt thanks to all our partners on behalf of The Daisan Bank, Ltd. and The Daisan Bank Group. To help you further understand our Bank, we are pleased to issue Business Report for the 102 nd Fiscal Year, a disclosure publication for the year ended March 31, We have set out the results and operating conditions of the Bank for this period as clearly as possible for your perusal and understanding. For realization of our vision Most Friendly Bank as Selected by Customers - NO.1 in Attraction - to celebrate the 100 th anniversary of the foundation of our bank in October 2012, we have started our new medium term management plan Challenge 100 with our Region The Final Stage over a two-year period from April 2010 to March In the Final Stage, we position our 100 th anniversary of foundation as our new path towards the new leap going forward, and set this two-year period as a foundational stage for the future. For this purpose, we focus our main themes on strengthening our transaction basis and increasing the number of customers and achieve robust financial basis and stronger profitability. Going forward, we intend to strengthen our management basis by steady promotion of our various strategies incorporated into our medium-term management plan and management strengthening plan to achieve our goal as the Most Friendly Bank as Selected by Customers - NO.1 in Attraction -. All our officers and employees, integrating their capabilities, strive to fulfill a role as a regional financial institution, and to that end, we ask for your continued support and patronage. June 2011 Kenzo Tanikawa, Chairman Junichi Ito, President 1

4 Consolidated Balance Sheets March 31, 2011 and ASSETS: Cash and due from banks 33,844 $ 407,023 37,198 $ 447,360 Call loans and bills bought 32, ,846 27, ,714 Trading securities 1,141 13, ,981 Money held in trust 1,961 23,583 1,898 22,826 Securities 518,766 6,238, ,900 6,601,322 Loans and bills discounted 1,136,336 13,666,097 1,138,127 13,687,636 Foreign exchange 1,160 13,950 1,499 18,027 Other assets 22, ,411 19, ,770 Tangible fixed assets 27, ,309 27, ,906 Buildings 6,459 77,678 6,157 74,046 Land 18, ,575 17, ,383 Construction in progress 230 2,766 Other tangible fixed assets 2,997 36,043 2,803 33,710 Intangible fixed assets 1,618 19,458 1,733 20,841 Software 1,534 18,448 1,650 19,843 Other intangible fixed assets 84 1, Deferred tax assets 12, ,773 9, ,545 Customers liabilities for acceptances and guarantees 4,194 50,438 3,566 42,886 Reserve for possible loan losses (15,668) (188,430) (12,393) (149,043) Total assets 1,777,928 $21,382,176 1,804,091 $21,696,825 LIABILITIES: Deposits 1,640,955 $19,734,876 1,657,131 $19,929,416 Borrowed money 16, ,558 23, ,891 Foreign exchange Bonds 7,000 84,185 7,000 84,185 Other liabilities 12, ,569 13, ,547 Reserve for employees bonuses , ,751 Reserve for director s bonuses Reserve for employees retirement benefits 6,442 77,474 6,725 80,877 Reserve for director s retirement benefits 310 3, ,233 Reserve for losses on dormant deposit repayments 96 1, ,260 Reserve for contingent loss 240 2, ,800 Deferred tax liability for land revaluation excess 3,876 46,614 3,760 45,219 Acceptances and guarantees 4,194 50,438 3,566 42,886 Total liabilities 1,693,033 20,361,190 1,716,849 20,647,612 NET ASSETS: Common stock 37, ,523 37, ,523 Capital surplus 32, ,974 32, ,974 Retained earnings 3,204 38,532 5,443 65,460 Treasury stock (1,159) (13,938) (1,176) (14,143) Total shareholders equity 72, ,079 74, ,814 Unrealized gain on other securities 7,800 93,806 7,896 94,960 Net deferred hedge losses, net of taxes (197) (2,369) (136) (1,635) Land revaluation excess 3,238 38,941 3,082 37,065 Total accumulated other comprehensive income 10, ,378 10, ,390 Minority interests 1,788 21,503 1,912 22,994 Total net assets 84,895 1,020,986 87,242 1,049,212 Total liabilities and net assets 1,777,928 $21,382,176 1,804,091 $21,696,825 2

5 Consolidated Statements of Income and Consolidated Statements of Comprehensive Income Consolidated Statements of Income Years ended March 31, 2011 and Ordinary income: 46,529 $559,579 43,743 $526,073 Interest income 31, ,498 30, ,788 Interest on loans and discounts 23, ,036 22, ,969 Interest and dividends on securities 8,010 96,331 7,720 92,844 Interest on call loans and bills bought Interests on deposits with banks Other interest income Fees and commissions 4,664 56,091 4,946 59,482 Other ordinary income 2,905 34,936 2,228 26,794 Other income 7,569 91,028 6,319 75,995 Ordinary expenses: 42, ,886 37, ,067 Interest expenses 5,202 62,561 4,071 48,959 Interest on deposits 4,537 54,564 3,682 44,281 Interest on negotiable certificates of deposit 0 0 Interest on call money and bills sold 0 0 Interest on borrowings and rediscounts 289 3, ,705 Interest on bonds 329 3, ,900 Interest on interest swaps Other interest expenses Fees and commissions payments 1,955 23,511 1,981 23,824 Other ordinary expenses 1,671 20, ,358 General and administrative expenses 22, ,540 21, ,346 Other expenses 11, ,128 8, ,554 Provision of reserve for possible loan losses 3,819 45, ,286 Other 7,999 96,199 8,170 98,256 Ordinary income 3,633 43,692 6,403 77,005 Extraordinary income 104 1, Gain on disposal of fixed assets 91 1, Recoveries of written-off claims Extraordinary loss ,746 Loss on disposal of fixed assets Impairment loss on fixed assets ,255 Loss on adjustment for changes of accounting standard for asset retirement obligations 95 1,142 Income before income taxes and minority interests 3,668 44,113 5,854 70,402 Income taxes 224 2, ,961 Current ,100 1,820 21,888 Deferred 1,148 13,806 2,483 29,861 Income before minority interests 3,371 40,541 Minority interest in income 221 2, ,623 Net income 2,298 $ 27,636 3,235 $ 38,905 Consolidated Statements of Comprehensive Income Years ended March 31, 2011 and Income before minority interests $ 3,371 $40,541 Other comprehensive income 151 1,815 Unrealized gain on other securities 91 1,094 Net deferred hedge losses, net of taxes Comprehensive income 3,523 42,369 Comprehensive income attributable to owners of the parent 3,392 40,793 Comprehensive income attributable to minority interests $ 131 $ 1,575 3

6 Directors, Corporate Auditors and s (as of June 30, 2011) Kenzo Tanikawa Junichi Ito Hiroshi Toyama Hiroshi Iwama Yuji Omori Matsushi Ito Yoshinori Imai Junji Matsubara Yasuo Suzuki Masami Hamaoka Takeshi Matsuzawa Takafumi Kuki Hiroshi Tabata Atsushi Iguchi Kazuhiro Nishimura Masao Nakamura Takahiro Fujita Miyuki Shibuya Hirokazu Satomura Chairman and Representative Director President and Representative Director, Managing Director, Managing Director, Managing Director, Director, Director Director, Director, Standing Corporate Auditor (Outside) Corporate Auditor Corporate Auditor Corporate Auditor (Outside) Bank Data (as of March 31, 2011, non-consolidated) Name: Location of Head Office: 510 KYO-MACHI, MATSUSAKA, MIE URL: TEL: Network: Number of branches and offices: 98 (64 within Mie prefecture; 34 outside of Mie prefecture) Number of loan centers: 4 Number of housing loan plazas: 4 Number of cash terminals outside branches and offices: 128 Number of Employees: 1,560 Paid-in Capital: 37,461 million Total Assets: 1,796,500 million Deposits: 1,662,500 million Loans: 1,144,000 million Return on Equity: 9.93% Credit Rating: BBB+ Rating and Investment Information, Inc. (R&I) Japan Credit Rating Agency, Ltd. Bank Network Head office and branch offices (*1) Cash terminals outside branches and offices (*2) Total Mie Aichi Gifu 2 2 Osaka Nara Wakayama Tokyo 1 1 Total *1 Excluding loan centers and housing loan plazas *2 Excluding 10 cash terminals within companies Securities and International Department 510 KYO-MACHI, MATSUSAKA, MIE, Japan TEL: kokusai@daisanbank.co.jp URL: Issued: August