Slides
Page 1
November 10, 2025 Mebuki Financial Group Financial Results for the First Half of FY2025 完成
Page 2
1 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ Contents Data Financial Results for 1H25 1 2 (1) Highlights 3-4 (2) 1H25 Financial Results 5 (3) Change of Ordinary Profit 6 (4) Consolidated Net Income / Core Net Business Income 7 (5) Loans 8-9 (6) Average Yield of Loans / Net Interest Income 10 (7) Deposits 11 (8) Assets under Custody 12 (9) Fees from Corporate Customers 13 (10) Securities 14-15 (11) Strategic Share Holdings 16 (12) Expenses / OHR 17 (13) Credit Related Costs 18 (14) Status of Non-performing Loans and Delinquent Loans 19 (15) Shareholder Returns / Capital Adequacy Ratio 20 (16) Forecasts for FY2025 21-22 Breakdown of Banking Subsidiaries 24-29 完成
Page 3
2 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 1 Financial Results for 1H25 完成
Page 4
3 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 1 （1） Highlights Results for 1H25 YoY Change Progress Net income attributable to owners of the parent Consolidated ¥43.7bn +¥11.7bn Initial (¥70.0bn) 62.5% Revised (¥75.0bn) 58.3% Core net business income*1 Banks’ total ¥56.0bn +¥12.3bn － ( o/w Difference of interests between loans and deposits ) ( o/w Fees from customers ) ( o/w Securities income*2 ) ( o/w Expenses (-) ) (¥61.2bn) (¥22.7bn) (¥29.3bn) (¥57.3bn) (+¥3.6bn) (+¥0.3bn) (+¥11.8bn) (+¥3.4bn) － － － － Gains/losses on securities*3 Credit related costs ¥3.7bn ¥3.7bn +¥4.6bn +¥0.7bn － － Results for １H25 Initial forecast (announced in May 2025) Revised forecast (announced in Nov. 2025) Compared to Initial forecast Ordinary profit Net income attributable to owners of the parent Consolidated ¥100.0bn ¥70.0bn ¥106.0bn ¥75.0bn +¥6.0bn +¥5.0bn ROE (based on net assets) 7.0％ 7.5％ +0.5％pt *1 Excluding gains/losses on cancellation of investment trusts and futures and options *2 Excluding gains/losses on cancellation of investment trusts and including interest on BOJ deposits *3 Gains/losses on “Bond transactions +Related to stocks + Cancellation of investment trusts + Futures and options” Net income attributable to owners of the parent increased by ¥11.7bn YoY to ¥43.7bn, achieving the highest profit for the first half since business integration. While increasing in total expenses by the investment in human capital, etc., the expansion of difference of interests between loans and deposits capturing the rise in domestic interest rates and the increase in securities income, etc. have driven profit growth. Forecast for FY25 (revised on November 10, 2025) 完成
Page 5
4 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ FY2025 (scheduled) Payout Ratio*2 Total Return Ratio*2 32.6％ 72.6％ Total amount of dividends ¥24.4bn Total amount ￥54.4bn = Dividends ￥24.4bn + Share acquisition ￥30.0bn Based on our upward revision of the full-year forecast, etc., we decided to increase dividends. Annual dividends per share is scheduled to increase by ¥2 from the initial forecast to ¥26. Additionally, we conducted the 2nd repurchase of own shares for this year in October. Total shareholder return for FY25 is expected to be ¥54.4bn, with a total return ratio exceeding 70%. ＊1 Figures are rounded to the nearest 100 million yen. ＊2 Calculated based on the revised consolidated net profit of ￥75.0bn . 1 （1） Highlights Initial forecast (announced in May 2025) Revised forecast (announced in Nov. 2025) Compared to Initial forecast (Reference) Results for FY2024 Annual Dividends per Share ¥24 ¥26 +¥2 ¥16 (Interim) (Year-end) ( ¥12 ) ( ¥12 ) ( ¥12 ) ( ¥14 ) (±¥0 ) ( +¥2 ) ( ¥7 ) ( ¥9 ) Shareholder Return Policy Increase in Dividends Share Acquisition Shareholders Return (Scheduled) Shareholder Return Policy (after the change) We aim to fundamentally achieve a stable and sustainable increase in dividends per share through profit growth, and target a Dividend Payout Ratio of 40% or more by fiscal year 2027. Additionally, the acquisition of own shares will be dynamically managed based on capital management that considers market trends, performance forecasts, and the strategic use of capital to capture growth opportunities. 完成 Shareholder Returns for FY25 1st (conducted in April 2025) 2nd (conducted in Oct. 2025) Annual Total YoY Change (Reference) Results for FY2024 Amount of purchase*1 Number of shares Period of purchase ¥23.0bn 38 million shares From Apr.8,2025 to Jun.20,2025 maximum ¥7.0bn maximum 9 million shares From Oct.7,2025 to Nov.28,2025 maximum ¥30.0bn maximum 47 million shares － + ¥10.0bn +15 million shares － ¥20.0bn 31 million shares －
Page 6
5 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 1 （2） Main Points of 1H25 Financial Results Mebuki FG (Consolidated) Joyo + Ashikaga (Non-consolidated) (\bn) YoY Chg Progress Gross Business profit 107.7 8.3 - 資金利益Net interest income 92.2 +14.9 - (o/w Deference of interests betw een loans and deposits) (62.6) (+4.2) - 資金利益Net fees and commissions 25.3 +1.0 - Net trading income 0.3 0.0 - Net other business income -10.1 -7.6 - Expenses 57.9 3.8 - Credit related cost 4.7 2.1 - Gains/losses related to stocks 13.2 +11.7 - Ordinary profit 59.6 +13.6 56.3% Extraordinary income/losses 2.9 +3.1 - 43.7 +11.7 58.3% YoY Bank Total Net income (a) 42.5 +12.9 Group Companies Net income (b) 4.0 +0.8 Mebuki Lease 0.4 -0.0 Mebuki Securities 0.3 +0.0 Mebuki Credit Guarantee 2.9 +0.7 Mebuki Card 0.2 -0.0 Total of banking subsidiaries 0.2 +0.0 Consolidation Adjustment*1 （c） -1.5 -1.5 Consolidation Adjustment*2 （c'） -1.4 -0.5 43.7 +11.7 【Mebuki FG (Consolidated)】 1H25 Results Net income attributable to owners of the parent 1H25 Results Net income attributable to owners of the parent （a）+（b）+（c）+（c'） *1 Mebuki Credit Guarantee received a dividend of ¥1.5 bn from Joyo Credit Guarantee. *2 Adjustments related to securities, etc. *3 Excl. gains/losses on cancelation of investment trusts, and incl. interest on Bank of Japan *4 Gains/losses on bond transactions +related to stocks + cancellation of investment trusts + futures and options (\bn) YoY chg Progress Gross business profit 103.4 +8.3 - Net interest income 92.5 +14.9 - (o/w Gains/losses on cancellation of investment trusts)(1) (1.8) (-0.5) - Net interest income (excl.Gains/losses on cancellation of investment trusts) 90.6 +15.4 - (o/w Deference of interests between loans and deposits(2)) (61.2) (+3.6) - (o/w Securities Income) (29.3) (+11.8) - Net fees and commissions(3) 20.7 +0.9 - Net other business income -9.8 -7.4 - (o/w gains/losses on bond transactions) (4) (-20.0) (-15.2) - (o/w gains/losses on futures and options) (5) (8.2) (+8.3) - (o/w other income related to customers) (6) (2.0) (-0.6) - Expenses(7) 57.3 +3.4 - 46.1 +4.8 - Core net business income 66.1 +20.1 - (excl. gains/losses on cancellation of investment trusts) 64.3 20.6 - 56.0 12.3 - Net transfer to general allowance for loan losses (8) -0.9 +0.0 - Net business income 47.0 +4.7 - Net non-recurrent gains/losses 10.5 +10.7 - (o/w Disposal of non-performing loans (9)) (4.6) (+0.7) - (o/w Gains/losses related to stocks, etc. (10)) (13.6) (+12.1) - Ordinary profit 57.6 +15.4 56.2% Extraordinary income/losses 2.9 +3.1 - Net income 42.5 +12.9 58.3% Profit from customer services (2)+(3)+(6)-(7) 26.7 +0.4 Credit related cost (8)+(9) 3.7 +0.7 Gains/losses on securities (1)+(4)+(5)+(10) 3.7 +4.6 1H25 Results【Joyo + Ashikaga (Non-consolidated)】 Net business income (before general allowance for loan losses) Core net business income (excl. gains/losses on cancellation of investment trusts and futures and options) 完成
Page 7
6 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ The expansion of difference of interests between loans and deposits capturing the rise in domestic interest rates and the increase in securities income due to the maintenance effect of our securities portfolio, etc., have led to increase core net business income (+¥12.3bn, YoY), resulting in ordinary profit (bank total) increasing by ¥15.4 bn (YoY). 1 （3） Change of Ordinary Profit (Bank total / non-consolidated) Year-on-Year Changes of Ordinary Profit (Bank total) (¥bn) 1億円につき 高さ0.1cm Ordinary profit 57.6 Gains/ losses on securities*2 +4.6 Security margins +11.8 Credit related costs (-) +0.7 Net non- recurrent gains/ Losses*3 -0.7 Factors of Increase / Decrease in Main Items (¥bn) Items Breakdown Increase / Decrease Difference of interests between loans and deposits +3.6 Yen denominated loans Foreign currency denominated loans Loans to “borrowing from special account of MoF” Yen denominated deposits(-) Foreign currency denominated deposits(-) +18.0 -1.1 +0.3 +13.8 -0.2 Fees from customers +0.3 Fees from corporate customers (incl. derivatives CVA) Customer assets related Individual loans related fees EB / Internet banking related fees Group life insurance related fees (-) +0.5 -0.5 +0.3 +0.2 -0.1 Security margins +11.8 Interest and dividend on securities (Yen denominated) (Foreign currency denominated) Market borrowings, etc. (Yen denominated) (-) (Foreign currency denominated) (-) Interest on Bank of Japan deposits +7.6 -2.3 +3.2 -5.6 +4.0 Gains/losses on securities +4.6 Bond transactions Related to stocks Cancelations of Investment trusts Futures and options -15.2 +12.1 -0.5 +8.3 *1 Excluding gains/losses on cancellation of investment trusts and futures and options *2 Gains/losses on “Bond transactions +Related to stocks + Cancellation of investment trusts + Futures and options” *3 Increase in retirement benefit expenses, etc. Increase Decrease Ordinary profit 42.1 1H24 1H25 YoY +15.4 Core net business income*1 +¥12.3bn Difference of interests between loans and deposit +3.6 Fees from customers +0.3 Expenses (-) +3.4 完成
Page 8
7 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 52.5 52.2 55.9 57.6 61.2 18.6 20.5 20.5 22.4 22.7 24.1 23.5 12.3 17.5 29.3 -54.5 -52.2 -52.6 -53.8 -57.3 40.8 44.1 36.1 43.7 56.0 1H21 1H22 1H23 1H24 1H25 24.7 26.9 23.5 32.0 43.7 4.8% 5.8% 5.1% 6.4% 8.7% 1H21 1H22 1H23 1H24 1H25 1 （4） Consolidated Net Income / Core Net Business Income Changes of Consolidated Net Income / ROE (¥ bn) Consolidated net income increased by ¥11.7bn YoY to ¥43.7bn, maintaining a growth trend. The expansion of difference of interests between loans and deposits capturing the rise in domestic interest rates and the improvement in securities income have led to increase core net business income, resulting in the highest profit for the first half since business integration. Changes of Core Net Business Income*1(Bank total) (¥ bn) +3.4 +3.6 +0.3 +11.8 YoY +11.7 Strengthening human capital and strategic investments Enhancing loan balance / Benefit from rising interest rates Increase in fees from corporate customers by providing escorted support services Portfolio replacement effect ROE (based on net assets) FG consolidated net income Core net business income*1 Difference of interests between loans and deposits Securities income*2 Expenses(-) Profit from customer services *1 Excluding gains/losses on cancellation of investment trusts and futures and options *2 Excluding gains/losses on cancellation of investment trusts *3 Based on Core Gross Business Profit (Excluding gains/losses on cancellation of investment trusts and futures and options) （Core OHR*3） （57.1％） （54.2％） （59.2％） （55.1％） （50.5％） 完成
Page 9
8 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 802.5 988.5 893.8 1,029.6 948.7 1,077.1 1,008.2 5,085.4 5,136.7 5,170.2 5,214.3 5,263.5 5,321.2 5,376.9 5,436.7 5,694.8 5,868.0 6,099.4 6,325.5 6,620.8 6,795.8 11,324.7 11,820.1 11,932.1 12,343.4 12,537.7 13,019.3 13,181.0 Sep-22 FYE22 Sep-23 FYE23 Sep-24 FYE24 Sep-25 Corporate Individual Public 851.0 768.4 781.0 466.2 275.0 340.0 67.4 12,175.8 12,588.5 12,713.2 12,809.6 12,812.7 13,359.3 13,248.4 Sep-23 Sep-24 Sep-25 Total +607.4 +5.3％ +605.6 +5.0％ +643.2 +5.1％ Corporate +431.2 +7.9％ +457.4 +7.7％ +470.2 +7.4％ Individual +84.8 +1.6％ +93.2 +1.8％ +113.3 +2.1％ Public +91.3 +11.3％ +54.8 +6.1％ +59.5 +6.2％ 1 （5） Loans －Term-end Balance－ Term-end Balance *1 (Bank total) (¥bn) Year on Year Changes (¥bn) ＊1 Not including borrowing from special account of MoF Loans to ‘borrowing from special account of MoF” (¥bn) Total loans (¥bn) YoY Change in Difference of Domestic Interests between Loans and Deposits (¥bn) Amount of loans increased by ¥643.2bn (YoY) and the growth was +5.1%(annualized). Loans to corporate customers maintained a high growth rate, while loans to individual customers also showed steady progress. Difference of domestic interests between deposits and loans increased by ¥4.5bn due to an increase in loan interest (average balance +¥674.0bn, yield +23.2bp) that exceeds the interest paid on deposits. Yield Average Balance +¥674.0bn +23.2bp +¥643.2bn +5.1% +¥605.6bn +5.0% +¥607.4bn +5.3% -2.0 -1.1 -1.1 -1.2 +1.4 +14.5 +1.0 +0.6 +0.3 +2.5 +2.5 +3.5 +0.1 +0.3 +0.0 +0.2 -0.0 +0.0 -2.1 -13.8 -0.9 -0.1 -0.8 +1.3 +1.9 +4.5 1H20 1H21 1H22 1H23 1H24 1H25 Loan yield factor Loan average balance factor Domestic loan factor Deposit factor YoY 完成
Page 10
9 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ Loans to individual customers maintained an increasing trend both in housing related loans and in unsecured loans. In particular, unsecured loans continue to maintain a high growth rate in the range of +11% (annualized). The growth rate of loans to corporate customers was +7.4%. Capturing strong demand for funds, the loan balance has increased regardless of corporate size or area. 1 （5） Loans －Corporate / Individual－ +86.7(+1.7％) +28.7(+11.6％) +470.2(+7.4％) +470.2(+7.4％) Individual - Housing Related Loans - (¥bn) Corporate - Term-end Balance by Company Size - (¥bn) YoY by segment YoY by segment YoY by segment YoY by segment (+2.4％) （+100.4） (-1.6％) （-13.4） Loans for asset building Apartment Loans Housing Loans (+5.6％) （+226.0） (+10.6％) （+244.2） Large Medium / SMEs (+5.4％) （+200.7） (+10.2％) （+269.5） Tokyo Local (+15.1％) （+15.8） (+11.0％) （+6.4 ) (+2.2％) （+0.2） (+8.5％) （+6.2） Card Loans Free Loans Educational Loans Car Loans Individual - Unsecured Loans - (¥bn) Corporate - Term-end Balance by Area - (¥bn) Growth rate (YoY) End of Sep. 2025 +1.7% End of Sep. 2024 +1.4% Growth rate (YoY) End of Sep. 2025 +11.6% End of Sep. 2024 +13.7% Growth rate (YoY) End of Sep. 2025 +7.8% End of Sep. 2024 +8.0% 73.4 79.0 86.3 95.7 104.4 113.6 120.2 46.3 49.3 51.8 55.8 58.3 62.2 64.8 9.4 9.7 10.2 10.8 10.9 10.9 11.1 64.3 66.0 68.2 70.1 72.7 75.4 79.0 193.5 204.2 216.7 232.5 246.4 262.3 275.2 Sep-22 FYE22 Sep-23 FYE23 Sep-24 FYE24 Sep-25 3,915.4 3,972.9 4,006.7 4,049.4 4,097.3 4,148.7 4,197.7 855.9 845.2 834.3 823.4 813.0 805.0 799.6 2.2 1.9 1.8 1.6 1.3 1.2 1.1 4,773.6 4,820.2 4,842.8 4,874.5 4,911.7 4,955.1 4,998.5 Sep-22 FYE22 Sep-23 FYE23 Sep-24 FYE24 Sep-25 3,705.8 3,804.4 3,882.7 3,958.9 4,023.8 4,173.2 4,249.8 1,730.8 1,890.4 1,985.2 2,140.5 2,301.7 2,447.5 2,545.9 5,436.7 5,694.8 5,868.0 6,099.4 6,325.5 6,620.8 6,795.8 Sep-22 FYE22 Sep-23 FYE23 Sep-24 FYE24 Sep-25 3,347.9 3,459.3 3,526.9 3,591.9 3,695.3 3,820.8 3,896.1 2,088.8 2,235.5 2,341.0 2,507.5 2,630.1 2,799.9 2,899.6 5,436.7 5,694.8 5,868.0 6,099.4 6,325.5 6,620.8 6,795.8 Sep-22 FYE22 Sep-23 FYE23 Sep-24 FYE24 Sep-25 完成
Page 11
10 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ Domestic Chg. in Factors Overseas Chg. in Factors Avg Balance +3.0 +3.5 (+674.0) -0.4 (-17.6) Yield +13.8 +14.5 (+23.2bp) -0.6 (-71.5bp) 78.5 +16.9 +18.0 － -1.1 － 0.4 +0.3 +0.3 － － － Interest on deposits (－) 17.7 +13.6 +13.8 － -0.2 － Difference of interests between loans and deposits ① 61.2 +3.6 +4.5 － -0.8 － Avg Balance -2.1 -0.5 (-87.3) -1.6 (-73.6) Yield +6.8 +7.6 (+45.6bp) -0.7 (-15.0bp) 44.8 +4.7 +7.0 － -2.3 － (o/w gains on cancellation of Investment Trusts) 1.8 -0.5 -0.5 － ±0.0 － (excluding gains on cancellation of Investment Trusts） 43.0 +5.2 +7.6 － -2.3 － Market borrowings, etc. (－) 21.8 -2.4 +3.2 － -5.6 － Securities' Income (excluding gains on cancellation of Investment Trusts） ② 21.2 +7.7 +4.3 － +3.3 － Interest on Bank of Japan deposits ③ 8.1 +4.0 +4.0 － ±0.0 － Securities' Income *３ ②＋③＝④ 29.3 +11.8 +8.4 － +3.3 － Net Interest Income (excluding gains on cancellation of Investment Trusts） ①+④ 90.6 +15.4 +13.0 － +2.4 － YoY Change Interest and dividend on securities Results Interest on loans and bills discounted (excluding borrowing from special account of MoF) (Factor) Borrowing from special account of MoF Difference of interests between loans and deposits increased by ¥3.6bn (YoY) due to the increase in interest on yen-denominated loans (by ¥18.0bn (YoY)). Securities’ income also increased by ¥11.8bn (YoY) due to the increased revenue from securities portfolio rebalancing and the increase in interest on Bank of Japan deposits. As a result, net interest income increased by ¥15.4bn (YoY). 1 （6） Average Yield of Loans / Net Interest Income +2.4bp +23.2bp Average Yield on Loans*1 (Bank total) ＊1 Not including borrowing from special account of MoF Changes of Interest Income*2 (Bank total) (¥bn) ＊2 Figures in parentheses are changes on a year on year basis 【Overseas】 【Domestic】 ＋ 【Overseas】 【Domestic】 ＊3 Excl. gains/losses on cancelation of investment trusts, and incl. interest on Bank of Japan deposits. 1.03% 0.97% 0.94% 0.94% 0.97% 0.99% 1.20% 2.93% 1.52% 1.02% 2.10% 4.88% 5.00% 4.29% 1.00% 0.96% 0.94% 0.92% 0.90% 0.92% 1.15% 1H19 1H20 1H21 1H22 1H23 1H24 1H25 -3.7bp -1.9bp -1.9bp -2.1bp 完成
Page 12
11 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ Balance of deposits increased by ¥46.2bn YoY (+0.2% annualized). Although the growth rate is slowing, we have made efforts to strengthen the acquisition of sticky deposits by promoting the use of settlement transactions as the main accounts for both corporate and individual customers. 1 （7） Deposits －Term-end Balance－ Term-end Balance *1 (Bank total) (¥bn) Year on Year Changes (¥bn) ＊1 Including NCD Sep-23 Sep-24 Sep-25 Total +433.7 +2.5％ +178.5 +1.0％ +46.2 +0.2％ Corporate +144.0 +3.5％ +145.4 +3.4％ -18.1 -0.4％ Individual +218.0 +1.8％ +90.3 +0.7％ +36.6 +0.2％ Public +71.7 +6.2％ -57.2 -4.7％ +27.7 +2.3％ Yen-denominated Loan-to-Deposit Ratio / Gap (Average balance/ including NCD) (¥bn) The loan-to-deposit ratio recovered to the 70% range, due to the increase in loans. The loan-to-deposit gap widened during the COVID-19 pandemic. Loan-to-Deposit Gap Loan-to-Deposit Ratio 1,140.8 1,455.2 1,212.5 1,414.6 1,155.3 1,420.8 1,183.0 11,925.2 12,035.1 12,143.2 12,222.5 12,233.6 12,269.1 12,270.2 4,088.9 4,085.0 4,233.0 4,235.7 4,378.4 4,309.3 4,360.3 17,155.0 17,575.4 17,588.8 17,872.9 17,767.3 17,999.2 17,813.6 Sep-22 FYE22 Sep-23 FYE23 Sep-24 FYE24 Sep-25 Corporate Individual Public +46.2bn +0.2% +178.5bn +1.0% +433.7bn +2.5% 4,824.4 5,457.1 5,881.9 5,736.1 5,267.0 4,967.3 69% 66% 65% 67% 70% 72% FY20 FY21 FY22 FY23 FY24 1H25 完成
Page 13
12 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 2.69 2.68 3.98 3.33 3.75 4.35 3.64 2.34 1.57 1.67 2.48 2.42 1.63 1.61 0.36 0.24 0.25 0.39 0.22 0.11 0.13 0.27 0.29 0.63 0.45 0.36 0.34 0.41 1.02 1.33 2.05 1.39 1.20 1.16 1.25 6.72 6.18 8.60 8.07 8.00 7.69 7.10 1H19 1H20 1H21 1H22 1H23 1H24 1H25 Mebuki Securities Financial instrument intermediary service JGB etc. Foreign currency deposits Insurance *Excl. executive life insurance Investment trust (Sales commission + Trust fee) 611.9 654.0 710.9 822.5 860.6 878.8 997.2 883.3 884.0 930.8 927.6 893.9 918.2 955.3 127.5 91.1 110.3 101.7 87.9 98.9 101.0 146.1 131.7 127.3 147.6 180.1 196.1 218.3 440.1 414.2 384.8 409.9 427.2 419.2 447.2 2,209.2 2,175.1 2,264.4 2,409.5 2,449.9 2,511.5 2,719.1 Sep-22 FYE22 Sep-23 FYE23 Sep-24 FYE24 Sep-25 Mebuki Securities JGB etc. Foreign currency deposits Insurance Investment trusts Balance of customer assets under custody increased by ¥269.2bn YoY (+10.9% annualized). Investment trusts and JGBs have led an increase in the balance with the spread of new NISA and the rise in domestic interest rates, etc. There has been a risk-off movement due to concerns over high valuations and uncertainty ahead caused by U.S. mutual tariffs, mainly in investment trusts, resulting in an decrease of related commissions compared to the same period of the last fiscal year. 1 （8） Customer Assets under Custody +269.2 (+10.9%) -0.58 (-7.5%) Balance (Bank Total + Mebuki Securities) (¥bn) Commissions (Bank Total + Mebuki Securities) (¥bn) (Re) Balance of Mebuki Securities by product Sep-22 Balance/Composition Seo-25 Balance/Composition Investment trust Structured bonds Domestic/ Foreign bonds Others 220.4（50.0%） 159.2（36.1%） 31.1（7.0%） 29.2（6.6%） Investment trust Domestic/ Foreign bonds Others Structured bonds 357.8（80.0%） 64.6（14.4%） 20.2（4.5%） 4.4（0.9%） Total 440.1 Total 4,472 完成
Page 14
13 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ Although derivative transactions aimed at risk hedging declined, fees from corporate customers increased by ¥0.5bn YoY to ¥8.5bn due to an increase of the fees related to arrangement of syndicate loans and business matching, etc. 1 （9） Fees from Corporate Customers +0.52 (+6.5%) 1H23 1H24 1H25 YoY Credit related (1) 4.97 6.51 5.95 -0.55 Derivatives Syndicate loans Private placement bond 0.99 3.35 0.62 2.70 3.28 0.53 1.52 3.84 0.58 -1.17 +0.56 +0.05 Credit risk in derivative transactions*1（-） (2) -0.23 0.56 0.05 -0.51 Credit related (3) ((1)+(2)) (After considering credit risk in derivative transactions) 5.21 5.94 5.90 -0.04 Consulting related (4) 1.98 2.09 2.66 +0.56 Business Matching Support for business planning M&A Executive Insurance Trust ・401K 0.64 0.88 0.15 0.22 0.06 0.81 0.60 0.30 0.29 0.07 1.04 0.70 0.51 0.32 0.06 +0.23 +0.09 +0.21 +0.03 -0.00 Total （(3)+(4)） 7.19 8.04 8.56 +0.52 Breakdown of Fees from Corporate Customers (Bank total) (¥bn) *1 The credit risk in derivative transactions is recorded as the difference between CVA and DVA at the end of each fiscal year, subtracted by the difference between CVA and DVA at the end of the previous fiscal year. CVA(Credit Valuation Adjustment) reflects the credit risk of counterparties in derivative transactions in the market value. DVA（Debt Valuation Adjustment） reflects the credit risk of our two banking subsidiaries in the market value. *2 Before considering credit risk in derivatives transactions Fees from Corporate Customers (Bank total) (¥bn) ■Consulting related fees ■Credit related fees (after considering credit risk in derivatives transactions*1 ) 4.14 3.94 4.39 4.86 5.96 5.90 7.09 (Re) Fees from Corporate Customers Excluding Derivatives Transactions*2 (¥bn) 3.80 3.47 3.47 5.04 5.21 5.94 5.90 0.73 0.77 1.38 1.68 1.98 2.09 2.66 4.53 4.25 4.86 6.72 7.19 8.04 8.56 1H19 1H20 1H21 1H22 1H23 1H24 1H25 完成
Page 15
14 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 2.4 -21.3 -34.4 -33.3 -103.5 -128.6 35.6 -14.2 -13.9 -14.6 -8.3 -2.8 139.4 131.5 101.7 151.9 113.6 140.1 33.1 32.9 -28.4 4.6 8.8 59.8 210.7 128.9 24.9 108.6 10.6 68.5 FYE20 FYE21 FYE22 FYE23 FYE24 Sep-25 4.0 -18.0 -30.1 -33.8 -68.3 -70.9 139.7 132.7 101.7 151.9 113.6 139.3 33.1 32.9 -28.4 4.6 8.8 59.8 35.6 -14.2 -14.5 -11.7 -5.2 0.6 212.5 133.3 28.5 111.0 48.9 128.9 FYE20 FYE21 FYE22 FYE23 FYE24 Sep-25 -6.2 -7.1 -87.3 -39.2 -40.4 -20.0 10.0 3.5 45.0 18.7 22.7 13.6 6.8 1.7 7.1 5.2 3.6 1.8 -0.1 -0.4 8.0 3.9 -0.4 8.2 FY20 FY21 FY22 FY23 FY24 1H25 Gains/losses on futures and options Gains/losses on cancellation of investment trusts Gains/losses related to stocks Gains/losses on bond transactions ＊4 その他有価証券を対象とした ヘッジ目的の金利スワップの評価損益 1 （10） Securities ＊3 有価証券の連単簿価差から生じる調整 （PPA）考慮後 Balance (Consolidated / Carrying amount) (¥bn) Unrealized valuation gains/losses on available for sales securities *3 (Consolidated) (¥bn) Gains and losses on securities*2 (bank total) (¥bn) Unrealized valuation gains/losses on securities *3 －After considering deferred gains(losses) on hedges*4－ *1 Excl. stocks without market quotations (unlisted stocks etc.). ＊2 Gains/losses on “cancellation of investment trusts + bond transactions + related to stocks + futures and options” *4 Unrealized valuation gains/losses on interest rate swap for hedging purposes related to available for sales securities *3 After considering adjustments arising from the difference in carrying amounts of securities (PPA) Gains/losses on securities Total (¥bn) 10.4 -2.3 -27.0 -11.2 -14.5 3.7 1.7 4.3 3.5 2.3 38.2 60.4 Deferred gains(losses) on hedges(¥bn) Investment trusts, etc. Stocks Domestic bonds Foreign bonds Investment trusts, etc. Stocks Domestic bonds Foreign bonds Domestic bonds Foreign bonds -¥20.0bn +¥0.0bn We continued operations while closely monitoring domestic and international monetary policies and stock price trends, resulting in the balance (carrying amount) of ¥4,181.5bn. We implemented a partial replacement of domestic bonds (asset swaps) for the purpose of risk control and profit improvement, securing valuation gains (after considering deferred gains (losses) on hedges) of ¥128.9 bn. 2,510.6 2,745.1 2,205.9 2,363.8 2,512.4 2,462.1 959.5 967.3 622.8 836.0 797.5 818.5 265.8 254.1 211.3 278.7 243.8 257.6 597,2 715.5 622.2 654.8 659.3 643.2 4,333.2 4,682.3 3,662.3 4,133.5 4,213.2 4,181.5 FYE20 FYE21 FYE22 FYE23 FYE24 Sep-25 Investment trusts, etc. Stocks Foreign bonds Domestic bonds 完成
Page 16
15 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ We have controlled the risk amount and duration of both yen-denominated bonds and foreign bonds, taking into account interest rate trends. In a situation where uncertainty in domestic and international financial markets is increasing, we have built a securities portfolio with appropriate risk tolerance. 1 （10） Securities Risk amount (10bpv *2 ) （¥bn） Yen-denominated Bonds*1 (Bank total) Duration*3（year） Yield（％） Foreign Bonds*1 (Bank total/ USD-denominated) Securities spread (Total of fixed and floating bonds:％) Risk amount (10bpv *2 ) （¥bn） Duration*3（year） *1 After considering hedging by bear funds and swaps *2 Decrease in the present value when assuming interest rates rise by 10bp (0.10%) for all periods *3 Average remaining period for principal in bonds investment L S Risk amount L S Risk amount -16.6 -11.4 -10.9 -9.5 -9.7 -8.9 -8.6 Sep-22 Mar.-23 Sep-23 Mar-24 Sep-24 Mar-25 Sep-25 6.3 5.3 5.1 3.9 3.5 3.3 3.3 Sep-22 Mar.-23 Sep-23 Mar-24 Sep-24 Mar-25 Sep-25 -2.4 -1.9 -2.1 -2.4 -2.0 -2.0 -1.8 Sep-22 Mar.-23 Sep-23 Mar-24 Sep-24 Mar-25 Sep-25 3.2 3.2 3.2 3.0 2.5 2.5 2.1 Sep-22 Mar.-23 Sep-23 Mar-24 Sep-24 Mar-25 Sep-25 0.41% 0.42% 0.44% 0.45% 0.57% 0.77% 0.92% Sep-22 Mar.-23 Sep-23 Mar-24 Sep-24 Mar-25 Sep-25 完成 0.62% 0.39% 0.29% 0.37% 0.51% 0.73% 1.00% Sep-22 Mar.-23 Sep-23 Mar-24 Sep-24 Mar-25 Sep-25
Page 17
16 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ Since the end of March 2023, the reduction of strategic shareholdings amounted to 40 issues, with a book value reduction of ¥11.6bn. Although the market value reduction has already exceeded the target of ¥30bn, due to the impact of the overall rise in the stock market, the net amount increased by ¥4.0bn. 1 （11） Strategic Shareholdings 229.1 191.9 150.9 164.6 139.1 155.0 Less than 120.9 98.8 79.1 64.9 57.5 54.4 53.3 22.9% 20.0% 16.6% 16.6% 14.4% 15.0% FYE20 FYE21 FYE22 FYE23 FYE24 Sep-25 FYE27 Market value Reduction of Strategic Shareholdings*1 (¥bn) Reduction Target (set on May 2023) Reduction of listed strategic shareholdings by ¥30.0bn at market value in 5 years from end of FY22 to end of FY27 299 266 253 234 213 218 Number of issues Compared to FYE22 （benchmark) Reduction of 40 issues *1 Figures are strategic shareholdings (including listed or non- listed stocks) held by Joyo Bank, which owns more than two-thirds stocks owned by Mebuki FG and subsidiaries. Reduction result by the end of Sep. 2025 (market value basis) Compared to FYE22 (benchmark) + ¥4.0bn Reduction - ¥32.7bn Change in market value + ¥36.7bn Ratio to net assets Market value Book value Compared to FYE22 （benchmark) Book value reduction of ¥11.6bn Benchmark 完成
Page 18
17 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ While reducing existing costs, proactive investments in human capital and sales-related areas led to total expenses of ¥57.3bn, an increase of ¥3.4bn YoY . OHR decreased to the range of 50%, due to an increase in the top line including investments effect. 1 （12） Expenses / OHR System integration Expenses / OHR (Bank total) (¥bn) Factors of Change (¥bn) 1H25 YoY Main Factors Personnel expenses 31.3 +2.2 Increase in salary and starting salary +1.2 Bonuses +0.4 Non- personnel expenses 21.9 +0.7 Outsourcing expenses +0.7 (Bond hedging-related, recruitment-related expenses) Advertising and promotion expenses + 0.2 (Individual loans, customer assets related, etc) Depreciation expenses -0.6 (Amortization of core system integration costs completed.) Taxes 4.0 +0.4 Size-based business tax +0.3 Consumption tax +0.1 ＊1 Based on Core Gross Business Profit (Excluding gains/losses on cancellation of investment trusts and futures and options) OHR*1 YoY (by segment) Personnel +2.2 (+7.7％) Non-personnel +0.7 (+3.5％) Taxes +0.4 (+12.8％) 3.9 3.7 3.5 3.4 3.5 4.0 21.6 21.4 19.9 20.4 21.1 21.9 30.1 29.2 28.7 28.7 29.1 31.3 55.7 54.5 52.2 52.6 53.8 57.3 62.2% 57.1% 54.2% 59.2% 55.1% 50.5% 1H20 1H21 1H22 1H23 1H24 1H25 -1.2 (-2.2％) +3.4 (+6.4％) -2.2 (-4.1％) +0.4 (+0.8％) +1.1 (+2.2％) 完成
Page 19
18 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 1H23 1H24 1H25 YoY Credit Related Costs -0.2 2.9 3.7 +0.7 Net transfer to general allowance for loan losses (-3.9) - -1.0 -0.9 +0.0 Disposal of non-performing loans -0.2 3.9 4.6 +0.7 Write off of loans Transfer to specific allowance for loan losses Transfer to provision for contingent losses Reversal of allowance for loan losses(-) Recoveries of written-off claims(-) Other 1.4 (3.0) - -0.1 0.8 0.9 0.2 1.9 2.5 0.1 - 1.0 0.2 3.4 3.1 0.4 - 2.8 0.4 +1.4 +0.6 +0.2 - +1.7 +0.1 Credit related costs for 1H25 were ¥3.7bn, which is generally in line with the full-year plan of ¥9.0bn (- ¥1.0bn from the initial forecast). Amid changes in the external environment (such as U.S. mutual tariffs, rising prices and resource costs, and labor shortages, etc.) , we will continue to focus on supporting business improvement for our customers. 1 （13） Credit Related Costs 31.5 13.7 13.2 13.7 4.5 4.5 9.5 7.9 9.3 19.0 22.4 19.6 9.1 3.4 5.9 0.38% 0.09% 0.18% 0.20% 0.18% 0.08% 0.03% 0.05% FY10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25 Credit cost ratio 0.6 7.7 2.2 9.0 0.1 4.0 0.5 4.3 -0.1 -0.0 1.4 2.3 0.8 2.0 2.0 0.9 2.4 1.2 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q Balance of Loans by the Program (Bank total) 7,433 loans / ￥92.6bn During deferred period Started Repayments 76.1％ Started Repayments 86.7％ During deferred period Not changed 89.3％ Changed terms Not changed 86.2％ Changed terms 完成 Change of Credit Related Costs (¥bn) 【Annual】 FY2010～ Breakdown of Credit Related Costs (¥bn) 【Quarter】 FY2021～ Status of Repayments of Loans based on the COVID-19 Special Loan Program (as of end of September 2025) Status of Contractual Repayments Status of Changes of Terms (Number f loans) (Balance) (Number of loans) (Balance) FY2021 FY2022 FY2023 FY2024 FY2025 Forecast ¥9.0bn 1H result ¥3.7bn
Page 20
19 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 2.0 3.3 1.3 1.0 2.1 2.5 1.3 1.3 0.9 0.8 1.3 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Ratio of non-performing loans based on financial revitalization law to total amount of loans remained at the same level as of end of the previous fiscal year, at 1.30%. We have maintained a high-quality loan portfolio. Status of delinquent loans to businesses also remained stable, with the loan amount of ¥1.3 bn as of the end of September. 1 （14） Status of Non-performing Loans and Delinquent Loans Sep-24 Sep-25 Non-performing Loans (Financial Revitalization Law) (¥bn) Status of Delinquent Loans to Businesses (¥bn) 【Reference】 Status of Bankruptcy Number of bankruptcies (Total liabilities amounting to 10 million yen or more） - by Tokyo Chamber of Commerce - Ibaraki Prefecture Tochigi Prefecture*1 *1 Specific major borrower’s bankruptcy of ¥433.0bn in FY11 is excluded from above figures. 1H23 1H24 1H25 77 / ¥15.7bn 72 / ¥10.8bn 71 / ¥9.2bn 1H results (number/amount) 1H23 1H24 1H25 60 / ¥7.1bn 80 / ¥8.5bn 89 / ¥6.6bn 1H results (number/amount) Number of bankruptcies Amount of total liabilities (¥bn) Number of bankruptcies Amount of total liabilities (¥bn) 完成 70.8 19.4 31.6 49.1 30.9 19.4 16.7 15.2 17.1 9.1 14.8 28.9 32.7 33.7 9.2 178 138 148 154 118 126 120 111 140 111 100 123 140 146 71 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 1H25 30.6 33.7 25.7 30.7 16.6 25.6 20.7 18.5 12.3 11.9 15.9 18.4 14.4 13.7 6.6 119 121 103 148 130 144 106 102 89 95 95 96 127 152 89 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 1H25 27.4 27.6 31.5 29.1 27.5 23.2 143.2 151.1 153.0 151.4 137.9 136.8 10.3 13.8 12.5 14.6 13.4 13.5 181.0 192.6 197.1 195.2 178.9 173.6 1.53% 1.61% 1.55% 1.52% 1.33% 1.30% FYE20 FYE21 FYE22 FYE23 FYE24 Sep-25 Bankrupt and substantially bankrupt claims Doubtful claims Claims requiring supervision Non-performing loan ratio
Page 21
20 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 12.9 12.9 12.8 12.7 11.9 11.7 12.3 15.8 24.4 2.0 4.0 19.5 5.0 20.0 20.0 30.0 12.9 14.9 16.8 12.7 31.5 16.7 32.3 35.8 54.4 30.0% 32.3% 46.2% 34.9% 73.3% 52.2% 74.5% 61.5% 72.6% 27.8% 35.3% 34.9% 28.2% 36.7% 28.7% 27.4% 32.6% FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 (forecast) 43.0 46.3 36.3 36.4 42.9 32.1 43.3 58.2 75.0 11 11 11 11 11 11 12 16 26 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 (forecast) Annual dividends per share is scheduled to increase by ¥2 from the initial forecast to ¥26 (+ ¥10 from the previous year). In this October, we announced the 2nd repurchase program of own shares (up to ¥7.0bn, maximum amount) . Total shareholder return for FY25 is expected to be ¥54.4bn, with a total return ratio of 72.6%. 1 （15） Shareholder Returns / Capital Adequacy Ratio Capital Adequacy Ratio Risk-weighted assets (¥ bn) Capital (¥bn) FG Consolidated Net Income (¥bn) 43.0 46.3 36.3 36.4 42.9 32.1 43.3 58.2 75.0 Controlling in the mid 11% range *1 Figures are rounded to the nearest 100 million yen. Shareholder Return Policy (Revised in March 2025) Dividends Share acquisition We aim to fundamentally achieve a stable and sustainable increase in dividends per share through profit growth, and target a Dividend Payout Ratio of 40% or more by fiscal year 2027. The share acquisition will be dynamically managed based on capital management that considers market trends, performance forecasts, and the strategic use of capital to capture growth opportunities. Target in Medium-Term Plan Capital Adequacy Ratio (Mebuki FG consolidated) Annual Dividends per Share Annual dividends per share(¥) Consolidated net income(¥bn) Dividends / Shareholder Returns TRR Payout Ratio Share purchase (¥bn)*1 Dividends（¥bn） Shareholder return is expected to reach a record high since business integration Increase in dividends per share through profit growth 7,174.7 7,320.0 6,213.4 6,548.5 6,958.5 6,926.9 780.2 799.6 828.0 832.8 849.4 857.1 10.87% 10.92% 13.32% 12.71% 12.20% 12.37% FYE20 FYE21 FYE22 FYE23 FYE24 Sep-25 完成
Page 22
21 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ Based on the results for 1H25 and future outlook, we revised the consolidated earnings forecast upward. For the fiscal year 2025, we plan consolidated ordinary profit of ¥106.0bn, an increase of ¥6.0bn from the initial forecast, and net income of ¥75.0bn (+ ¥5.0bn from the initial forecast). 1 （16） Forecast for FY2025 Mebuki FG Consolidated (¥bn) Total of Two Subsidiary Banks (¥bn) Subsidiary Banks (Non-consolidated) (¥bn) Forecast for FY2025 (Ordinary Profit / Net Income) Forecast for FY2025 Results for 1H25 Compared to initial forecast Progress Ordinary Profit 106.0 +6.0 59.6 56.3％ Net income attributable to owners of the parent 75.0 +5.0 43.7 58.3％ Forecast for FY2025 Results for 1H25 Compared to initial forecast Progress Ordinary Profit 102.5 +7.5 57.6 56.2％ Net Income 73.0 +6.0 42.5 58.3％ Forecast for FY2025 Results for 1H25 Compared to initial forecast Progress Ordinary Profit 37.5 +3.5 19.9 53.2％ Net Income 26.0 +2.5 14.0 53.8％ Ashikaga Bank Forecast for FY2025 Results for 1H25 Compared to initial forecast Progress Ordinary Profit 65.0 +4.0 37.6 57.9％ Net Income 47.0 +3.5 28.5 60.8％ Joyo Bank 完成
Page 23
22 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ Factors Reasons Difference of interest between loans and deposits +3.5 (Yen-denominated) Interest on loans +6.5 / Interest on deposits(-)+1.5 (Foreign currency) Interest on loans ±0.0 / Interest on deposits(-) ±0.0 Interest on borrowing from special account of MoF -1.5 Securities’ income +4.5 Increase in dividends from investment trusts and stocks, etc. Increase in interest on BOJ deposits +1.5 Fees from customers +0.5 Increase in income from FX derivative transactions Increase in business support related fees (M&A, etc.) Expenses(-) +1.5 Human capital investment aimed at salary increases and securing human resources Sales related strategic investment (Advertising, outsourcing expenses, etc.) Gains/losses on securities* -1.5 Profit improvement by the change in our securities portfolio Gains on sales due to the reduction of strategic shareholdings Credit related costs (-) -1.0 Reflecting the current stable situation 1 （16） Forecast for FY2025 Main Reasons of Change (compared to initial forecast) (¥ bn) Market Scenario (Policy rates in Japan and U.S.A.) Policy rate (End of fiscal year) 10 year government bond yield Perspective Japan 0.50％ From 1.10 to 1.70％ Policy rate remains unchanged during FY25. U.S.A. 4.00％ From 3.70 to 4.80％ Two interest rate cuts during FY25. 1 2 3 4 5 6 （\bn） 1H25 YoY Results Progress Core gross business profit 225.5 +12.5 121.6 53.9% Net interest income (Excluding gains/losses on cancellation of inv estment trusts) 178.0 +8.0 90.6 50.9% Difference of interests between loans and deposits 124.0 +3.5 61.2 49.4% Securities' income (Excluding gains/losses on cancellation of investment trusts) 54.0 +4.5 29.3 54.3% (O/W Interest on Bank of Japan deposits) 13.5 +1.5 8.1 60.3% Fees from customers *1 43.0 +0.5 22.7 52.9% Expenses 116.5 +1.5 57.3 49.2% Core net business income*2 104.5 +7.0 56.0 53.6% Gains/losses on securities *3 4.0 -1.5 3.7 92.7% Credit related costs 9.0 -1.0 3.7 41.4% Ordinary profit 102.5 +7.5 57.6 56.2% Net income 73.0 +6.0 42.5 58.3% Profits of Group Companies 6.0 +2.0 4.0 68.3% Consolidation adjustment (Adjustments related to securities,etc. ) -4.0 -3.0 -2.9 - Net income attributable to owner of the parent 75.0 +5.0 43.7 58.3% ROE (based on net assets) 7.5% +0.5% 8.7% - RORA 1.07% +0.09% 1.25% - Forecast for FY25 【Joyo+Ashikaga】 【Mebuki FG Consolidated】 Breakdown of Forecast for FY2025 *1 Net fees and commissions + Income related to derivatives for customers + foreign exchange *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” 1 2 3 4 5 6 完成
Page 24
23 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 2 Data
Page 25
24 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 2 Breakdown of Banking Subsidiaries （１）P/L for 1H25 （￥ｂｎ） J+A YoY Joyo YoY Ashikaga YoY Gross business profit 103.4 +8.3 59.2 +2.5 44.2 +5.8 123.5 +23.5 75.6 +16.5 47.8 +7.0 Net interest income 92.5 +14.9 54.3 +7.7 38.2 +7.1 1.8 -0.5 1.2 -0.3 0.5 -0.2 Net fees and commissions 20.7 +0.9 11.5 +0.6 9.1 +0.2 Net other business income and Net trading income -9.8 -7.4 -6.6 -5.8 -3.1 -1.6 (o/w gains/losses on bond transactions) -20.0 -15.2 -16.4 -14.0 -3.6 -1.2 Expenses 57.3 +3.4 32.3 +2.2 25.0 +1.2 o/w Personnel expenses 31.3 +2.2 17.4 +1.1 13.9 +1.1 o/w Non-personnel expenses 21.9 +0.7 12.5 +0.8 9.3 -0.0 46.1 +4.8 26.9 +0.2 19.2 +4.5 Core net business income 66.1 +20.1 43.3 +14.3 22.8 +5.8 64.3 +20.6 42.0 +14.6 22.2 +6.0 56.0 +12.3 33.8 +6.2 22.2 +6.0 Net transfer to general allowance for loan losses (a) -0.9 +0.0 0.0 +0.2 -1.0 -0.1 Net business income 47.0 +4.7 26.8 +0.0 20.2 +4.7 Net non-recurrent gains/losses 10.5 +10.7 10.8 +9.6 -0.2 +1.0 o/w Disposal of non-performing loans (b) 4.6 +0.7 1.4 -0.1 3.2 +0.9 o/w Gains/losses related to stocks, etc. 13.6 +12.1 10.9 +10.1 2.6 +2.0 Ordinary profit 57.6 +15.4 37.6 +9.6 19.9 +5.8 Extraordinary income/losses 2.9 +3.1 2.9 +3.1 0.0 -0.0 Net income 42.5 +12.9 28.5 +8.9 14.0 +4.0 Profit from customer services＊1 26.7 +0.4 15.5 -0.5 11.1 +1.0 Credit related costs (a)+(b) 3.7 +0.7 1.5 +0.0 2.2 +0.7 *1 Difference of interests betw een loans and deposits＋Fees from Customers＋Expenses（-） (Core Gross business profit) o/w Gains/losses on Cancellation of Investment trusts Net business income (before general allowance for loan Core net Business Income （exclu. Gains/losses on Cancellation of Investment trusts） （exclu. Gains/losses on "Cancellation of investment trusts", "Futures" and "Options"） （２）Average Yield on Loans(excluding borrowing from special account of MoF) FY21 FY22 FY23 FY24 1H25 YoY 1H24 Domestics 0.93% 0.91% 0.90% 0.97% 1.15% 0.23% 0.92% Overseas 1.04% 3.02% 5.02% 4.75% 4.29% -0.71% 5.00% Total 0.94% 0.95% 0.97% 1.03% 1.20% 0.20% 0.99% Domestics 0.91% 0.90% 0.88% 0.95% 1.14% 0.22% 0.91% Overseas 1.05% 3.11% 5.21% 4.94% 4.45% -0.75% 5.21% Total 0.92% 0.96% 1.00% 1.05% 1.21% 0.18% 1.02% Domestics 0.96% 0.93% 0.92% 0.99% 1.18% 0.24% 0.94% Overseas 0.98% 2.23% 3.17% 2.80% 2.87% -0.07% 2.94% Total 0.96% 0.94% 0.93% 0.99% 1.18% 0.23% 0.94% J+A Joyo Ashikaga （３）Loans Term-end Balance （￥ｂｎ） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY Sep-24 Individual 5,045.4 5,136.7 5,214.3 5,321.2 5,376.9 +113.3 5,263.5 Corporate 5,347.4 5,694.8 6,099.4 6,620.8 6,795.8 +470.2 6,325.5 Public 915.9 988.5 1,029.6 1,077.1 1,008.2 +59.5 948.7 Total 11,308.8 11,820.1 12,343.4 13,019.3 13,181.0 +643.2 12,537.7 Individual 2,740.2 2,786.4 2,823.7 2,895.9 2,932.0 +74.8 2,857.2 Corporate 3,091.3 3,313.1 3,566.2 3,885.3 3,971.0 +289.8 3,681.1 Public 498.1 548.8 591.5 611.7 654.4 +46.1 608.3 Total 6,329.7 6,648.4 6,981.6 7,393.0 7,557.6 +410.8 7,146.7 Individual 2,305.1 2,350.3 2,390.5 2,425.2 2,444.8 +38.5 2,406.2 Corporate 2,256.0 2,381.6 2,533.2 2,735.5 2,824.7 +180.4 2,644.3 Public 417.8 439.6 438.0 465.4 353.8 +13.4 340.3 Total 4,979.0 5,171.6 5,361.8 5,626.2 5,623.4 +232.4 5,390.9 ＊Not including borrowing from special account of MoF Foreign Currency Denominated Loans （￥ｂｎ） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY Sep-24 J+A 150.6 151.0 153.4 132.4 129.7 +1.8 127.9 Joyo 139.5 140.4 145.7 125.6 122.2 +1.5 120.7 Ashikaga 11.0 10.5 7.6 6.8 7.4 +0.2 7.1 J+A Joyo Ashikaga 完成
Page 26
25 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 2 Breakdown of Banking Subsidiaries （4）Loans Individual Housing Related Loans Term-end Balance （￥ｂｎ） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY Sep-24 Housing Loans 3,860.8 3,972.9 4,049.4 4,148.7 4,197.7 +100.4 4,097.3 Apartment Loans 871.2 845.2 823.4 805.0 799.6 -13.4 813.0 Asset building loans 2.4 1.9 1.6 1.2 1.1 -0.2 1.3 Total 4,734.5 4,820.2 4,874.5 4,955.1 4,998.5 +86.8 4,911.7 Housing Loans 1,889.9 1,955.2 2,001.6 2,082.6 2,121.5 +79.4 2,042.0 Apartment Loans 694.2 672.8 653.3 633.4 626.8 -14.9 641.7 Asset building loans 2.4 1.9 1.6 1.2 1.1 -0.2 1.3 Total 2,586.5 2,630.0 2,656.6 2,717.3 2,749.5 +64.2 2,685.2 Housing Loans 1,970.9 2,017.6 2,047.8 2,066.1 2,076.2 +21.0 2,055.2 Apartment Loans 177.0 172.4 170.1 171.6 172.7 +1.5 171.2 Asset building loans - - - - - - - Total 2,147.9 2,190.1 2,217.9 2,237.7 2,249.0 +22.5 2,226.4 J+A Joyo Ashikaga （7）Loans Corporate Term-end Balance by Area （￥ｂｎ） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY Sep-24 Tokyo 2,009.4 2,235.5 2,507.5 2,799.9 2,899.6 +269.5 2,630.1 Local 3,337.9 3,459.3 3,591.9 3,820.8 3,896.1 +200.7 3,695.3 Total 5,347.4 5,694.8 6,099.4 6,620.8 6,795.8 +470.2 6,325.5 Tokyo 1,468.9 1,603.1 1,760.2 1,924.7 1,960.3 +155.8 1,804.4 Local 1,622.4 1,709.9 1,806.0 1,960.5 2,010.7 +134.0 1,876.7 Total 3,091.3 3,313.1 3,566.2 3,885.3 3,971.0 +289.8 3,681.1 Tokyo 540.5 632.3 747.2 875.2 939.3 +113.6 825.7 Local 1,715.5 1,749.3 1,785.9 1,860.3 1,885.3 +66.7 1,818.6 Total 2,256.0 2,381.6 2,533.2 2,735.5 2,824.7 +180.4 2,644.3 J+A Joyo Ashikaga （6）Loans Corporate Term-end Balance by Company Size （￥ｂｎ） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY Sep-24 Large 1,674.3 1,890.4 2,140.5 2,447.5 2,545.9 +244.2 2,301.7 Medium/SMEs 3,673.0 3,804.4 3,958.9 4,173.2 4,249.8 +226.0 4,023.8 Total 5,347.4 5,694.8 6,099.4 6,620.8 6,795.8 +470.2 6,325.5 Large 1,206.9 1,338.7 1,475.8 1,675.9 1,704.5 +139.5 1,565.0 Medium/SMEs 1,884.3 1,974.3 2,090.4 2,209.3 2,266.4 +150.3 2,116.1 Total 3,091.3 3,313.1 3,566.2 3,885.3 3,971.0 +289.8 3,681.1 Large 467.3 551.6 664.7 771.6 841.3 +104.7 736.6 Medium/SMEs 1,788.7 1,830.0 1,868.5 1,963.9 1,983.3 +75.6 1,907.6 Total 2,256.0 2,381.6 2,533.2 2,735.5 2,824.7 +180.4 2,644.3 J+A Joyo Ashikaga （5）Unsecured Loans Term-end Balance （￥ｂｎ） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY Sep-24 Car Loans 71.4 79.0 95.7 113.6 120.2 +15.8 104.4 Educational Loans 45.4 49.3 55.8 62.2 64.8 +6.4 58.3 Free Loans 9.3 9.7 10.8 10.9 11.1 +0.2 10.9 Card Loans 62.4 66.0 70.1 75.4 79.0 +6.2 72.7 Total 188.6 204.2 232.5 262.3 275.2 +28.7 246.4 Car Loans 50.6 53.2 59.4 67.4 70.5 +7.5 63.0 Educational Loans 35.5 38.1 41.9 45.5 47.1 +3.7 43.3 Free Loans 3.8 4.1 4.3 4.2 4.1 -0.1 4.3 Card Loans 24.8 26.7 28.4 30.8 32.7 +3.2 29.5 Total 114.8 122.2 134.2 148.1 154.6 +14.3 140.2 Car Loans 20.8 25.8 36.2 46.2 49.6 +8.2 41.4 Educational Loans 9.9 11.2 13.9 16.7 17.6 +2.6 14.9 Free Loans 5.5 5.6 6.4 6.7 6.9 +0.3 6.5 Card Loans 37.5 39.2 41.6 44.5 46.2 +3.0 43.2 Total 73.8 82.0 98.3 114.2 120.5 +14.3 106.2 J+A Joyo Ashikaga 完成
Page 27
26 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 2 Breakdown of Banking Subsidiaries （８）Deposits Term-end Balance *1(Yen-denominated + Foreign currency denominated) （￥bn） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY Sep-24 Individual 11,787.3 12,035.1 12,222.5 12,272.1 12,270.2 +36.6 12,233.6 Corporate 4,049.1 4,085.0 4,235.7 4,306.3 4,360.3 -18.1 4,378.4 Public 1,380.6 1,455.2 1,414.6 1,420.8 1,183.0 +27.7 1,155.3 Total 17,217.1 17,575.4 17,872.9 17,999.2 17,813.6 +46.2 17,767.3 Individual 7,272.7 7,412.6 7,514.1 7,523.9 7,527.6 +17.1 7,510.5 Corporate 2,237.4 2,263.0 2,380.4 2,396.7 2,394.9 -43.7 2,438.7 Public 713.9 778.3 757.0 758.6 752.6 +67.5 685.0 Total 10,224.0 10,454.0 10,651.7 10,679.3 10,675.2 +40.9 10,634.3 Individual 4,514.5 4,622.5 4,708.3 4,745.1 4,742.5 +19.5 4,723.0 Corporate 1,811.7 1,821.9 1,855.2 1,912.5 1,965.3 +25.6 1,939.7 Public 666.7 676.9 657.5 662.2 430.4 -39.8 470.2 Total 6,993.0 7,121.4 7,221.2 7,319.9 7,138.3 +5.2 7,133.0 Foreign Currency Deposit （￥bn） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY Sep-24 J+A 168.2 96.5 102.4 98.8 100.9 +13.4 87.5 Joyo 139.6 76.1 85.5 78.7 83.7 +11.8 71.8 Ashikaga 28.5 20.3 16.8 20.1 17.2 +1.5 15.6 *1 Including NCD. J+A Joyo Ashikaga （9）Customer Assets under Custody Balance （￥ｂｎ） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY Sep-24 Investment trusts 632.5 654.0 822.5 878.8 997.2 +136.5 860.6 Insurance 858.5 884.0 927.6 918.2 955.3 +61.4 893.9 Foreign currency deposits 131.1 91.1 101.7 98.9 101.0 +13.0 87.9 JGB etc. 154.5 131.7 147.6 196.1 218.3 +38.1 180.1 Mebuki Securities 429.5 414.2 409.9 419.2 447.2 +19.9 427.2 Total 2,206.3 2,175.1 2,409.5 2,511.5 2,719.1 +269.2 2,449.9 Investment trusts 302.6 318.7 391.2 409.3 462.2 +59.2 403.0 Insurance 511.5 519.7 527.7 512.1 537.3 +36.0 501.2 Foreign currency deposits 102.6 70.7 84.8 78.8 83.8 +11.5 72.3 JGB etc. 102.7 88.4 101.6 145.1 162.2 +31.1 131.0 Total 1,019.4 997.7 1,105.5 1,145.4 1,245.6 +138.0 1,107.6 Investment trusts 329.8 335.2 431.3 469.5 534.9 +77.3 457.6 Insurance 347.0 364.3 399.8 406.1 418.0 +25.4 392.6 Foreign currency deposits 28.5 20.3 16.8 20.1 17.2 +1.5 15.6 JGB etc. 51.7 43.2 45.9 50.9 56.1 +7.0 49.0 Total 757.3 763.1 894.0 946.7 1,026.2 +111.2 914.9 Group total Joyo Ashikaga 完成
Page 28
27 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 2 Breakdown of Banking Subsidiaries （１1）Fees from Corporate Customers （￥ｂｎ） FY21 FY22 FY23 FY24 1H25 YoY 1H24 Credit Related(*1) 8.15 10.87 10.81 11.83 5.90 -0.04 5.94 Consulting Related 3.29 3.72 4.26 4.55 2.66 +0.56 2.09 total 11.44 14.59 15.08 16.39 8.56 +0.52 8.04 Credit Related(*1) 4.71 6.70 6.28 6.42 3.08 -0.01 3.10 Consulting Related 2.14 2.02 2.31 2.68 1.57 +0.34 1.23 total 6.86 8.73 8.59 9.10 4.65 +0.32 4.33 Credit Related(*1) 3.43 4.17 4.53 5.40 2.82 -0.02 2.84 Consulting Related 1.14 1.69 1.94 1.87 1.08 +0.22 0.86 total 4.57 5.86 6.48 7.28 3.90 +0.20 3.70 ＊１：Inclding derivatives CVA J+A Joyo Ashikaga （１0）Customer Assets under Custody Commissions （￥ｂｎ） FY21 FY22 FY23 FY24 1H25 YoY 1H24 Investment trusts(*1) 7.93 6.52 7.75 8.58 3.64 -0.71 4.35 Insurance(*2) 3.25 5.59 4.26 3.10 1.61 -0.02 1.63 Foreign currency deposits 0.61 0.68 0.39 0.20 0.13 +0.01 0.11 JGB etc. 0.01 0.04 0.09 0.06 0.06 -0.00 0.07 Financial instrument intermediary service 1.19 0.57 0.66 0.71 0.41 +0.06 0.34 Mebuki Securities 3.87 1.98 2.15 2.37 1.25 +0.08 1.16 Total 16.90 15.41 15.32 15.04 7.10 -0.58 7.69 Investment trusts(*1) 4.10 3.32 3.69 4.18 1.53 -0.70 2.24 Insurance(*2) 2.00 3.53 2.22 1.85 0.98 -0.00 0.99 Foreign currency deposits 0.39 0.39 0.26 0.15 0.10 +0.01 0.09 JGB etc. 0.01 0.02 0.07 0.04 0.05 -0.00 0.06 Financial instrument intermediary service 0.89 0.46 0.61 0.66 0.39 +0.07 0.32 Total 7.41 7.74 6.86 6.91 3.07 -0.64 3.71 Investment trusts(*1) 3.83 3.20 4.06 4.39 2.10 -0.00 2.10 Insurance(*2) 1.25 2.06 2.04 1.25 0.62 -0.01 0.63 Foreign currency deposits 0.22 0.28 0.13 0.04 0.02 +0.00 0.02 JGB etc. 0.00 0.01 0.02 0.02 0.00 +0.00 0.00 Financial instrument intermediary service 0.29 0.10 0.04 0.04 0.01 -0.00 0.02 Total 5.61 5.68 6.30 5.76 2.77 -0.02 2.80 ＊１：Sales commission+ Trust fee ＊２：Excl. executive life insurance Group Total Joyo Ashikaga （12）Securities Balance(Balance Sheet Amount) （￥ｂｎ） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY Domestic bonds 2,745.1 2,205.9 2,363.8 2,512.4 2,462.1 -50.2 Foreign bonds 967.3 622.8 836.0 797.5 818.5 +20.9 Stocks 254.1 211.3 278.7 243.8 257.6 +13.7 Investment trusts,etc. 715.5 622.2 654.8 659.3 643.2 -16.1 Total 4,682.3 3,662.3 4,133.5 4,213.2 4,181.5 -31.6 Domestic bonds 2,002.5 1,438.8 1,588.8 1,561.4 1,524.7 -36.7 Foreign bonds 597.9 319.1 455.7 462.0 490.9 +28.8 Stocks 226.8 183.8 243.4 215.8 225.6 +9.7 Investment trusts,etc. 439.9 401.3 418.7 435.6 421.4 -14.1 Total 3,267.3 2,343.1 2,706.8 2,675.0 2,662.7 -12.2 Domestic bonds 734.1 758.0 766.5 941.9 926.5 -15.3 Foreign bonds 369.3 303.7 380.3 335.5 327.6 -7.9 Stocks 33.6 34.4 41.1 34.3 38.2 +3.9 Investment trusts,etc. 271.5 216.5 231.8 219.3 217.4 -1.8 Total 1,408.8 1,312.7 1,419.7 1,531.1 1,509.9 -21.1 Mebuki FG (Consolid ated) Joyo Ashikaga 完成
Page 29
28 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 2 Breakdown of Banking Subsidiaries （13）Securities Unrealized Valuation Gains/Losses on Available for Sale Securities （￥bｎ） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY Stocks -21.3 -34.4 -33.3 -103.5 -128.6 -25.1 Domestic bonds -14.2 -13.9 -14.6 -8.3 -2.8 +5.5 Investment trusts,etc. 131.5 101.7 151.9 113.6 140.1 +26.4 Foreign bonds 32.9 -28.4 4.6 8.8 59.8 +50.9 Total 128.9 24.9 108.6 10.6 68.5 +57.8 Stocks -16.3 -19.2 -19.5 -52.2 -61.2 -9.0 Domestic bonds -12.8 -5.7 -5.5 -5.1 -3.1 +1.9 Investment trusts,etc. 123.6 91.5 133.7 101.6 123.3 +21.7 Foreign bonds 27.4 -15.2 3.5 1.0 30.6 +29.5 Total 122.0 51.2 112.2 45.3 89.4 +44.1 Stocks 1.9 -10.1 -10.3 -48.8 -65.1 -16.3 Domestic bonds -0.1 -8.0 -9.0 -3.1 0.3 +3.5 Investment trusts,etc. 21.0 22.1 29.9 23.4 27.7 +4.3 Foreign bonds 6.7 -11.8 2.4 9.1 30.5 +21.3 Total 29.7 -7.8 12.9 -19.3 -6.4 +12.8 Mebuki FG (Consolida ted) Joyo Ashikaga (１5) Foreign Bonds ($million, €million ,million of Australia dollars, ￥bn) Currency Interest rate type Securities type FYE23 FYE24 Sep-25 YoY 1H25 gains/ losses Government, Government-guaranteed bonds, etc 1,528 1,735 1,738 +3 Corporate bonds, etc 1,910 1,325 1,348 +23 Floating CLO/Government-guaranteed bonds, etc 1,982 2,181 2,300 +119 5,422 5,241 5,387 +145 Euro Fixed Government, Government-guaranteed bonds, etc 0 0 0 ±0 － AUD Fixed Corporate bonds, etc 30 0 0 ±0 － Yen(*1) Fixed Corporate bonds, etc 26.7 22.1 19.3 -2.8 － Government, Government-guaranteed bonds, etc 1,071 1,286 1,287 +1 Corporate bonds, etc 239 313 333 +20 Floating CLO/Government-guaranteed bonds, etc 1,544 1,377 1,567 +190 2,856 2,976 3,189 +212 Euro Fixed Government, Government-guaranteed bonds, etc 0 0 0 ±0 － AUD Fixed Corporate bonds, etc 30 0 0 ±0 － Yen(*1) Fixed Corporate bonds, etc 25.8 22.1 19.3 -2.8 － Government, Government-guaranteed bonds, etc 456 449 450 +1 Corporate bonds, etc 1,671 1,012 1,015 +2 Floating CLO/Government-guaranteed bonds, etc 437 804 732 -71 2,565 2,265 2,198 -67 Euro Fixed Government, Government-guaranteed bonds, etc 0 0 0 ±0 － AUD Fixed Corporate bonds, etc 0 0 0 ±0 － Yen(*1) Fixed Corporate bonds, etc 0.9 0.0 0.0 ±0.0 － (*1)All Yen denominated foreign bonds are regarded as fixed bonds. Ashikaga U.S. dollar Fixed － Sub Total Total U.S. dollar Fixed +0 Sub Total Joyo U.S. dollar Fixed +0 Sub Total （14）Gains/Losses on Securities （￥bｎ） FY21 FY22 FY23 FY24 1H25 YoY 1H24 Stocks -7.1 -87.3 -39.2 -40.4 -20.0 -15.2 -4.7 Domestic bonds 3.5 45.0 18.7 22.7 13.6 +12.1 1.5 Investment trusts,etc. 1.7 7.1 5.2 3.6 1.8 -0.5 2.4 Total -1.8 -35.1 -15.2 -14.0 -4.5 -3.6 -0.8 Stocks -4.8 -72.6 -27.9 -26.3 -16.4 -14.0 -2.4 Domestic bonds 3.5 43.9 16.9 18.8 10.9 +10.1 0.8 Investment trusts,etc. 1.7 5.0 4.2 2.3 1.2 -0.3 1.6 Total 0.4 -23.6 -6.7 -5.1 -4.1 -4.1 0.0 Stocks -2.2 -14.7 -11.2 -14.1 -3.6 -1.2 -2.3 Domestic bonds 0.0 1.1 1.7 3.9 2.6 +2.0 0.6 Investment trusts,etc. 0.0 2.1 1.0 1.2 0.5 -0.2 0.8 Total -2.3 -11.4 -8.4 -8.9 -0.3 +0.5 -0.8 J+A Joyo Ashikaga 【備忘】 3Qでは 「+0」の2ヶ所と 「-」のセルの 書式設定を修正する。 完成
Page 30
29 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 2 Breakdown of Banking Subsidiaries （16）Strategic shareholdings (Balance) （￥ｂｎ） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY J+A Balance 225.2 184.8 205.3 172.7 192.8 20.0 Joyo Balance 191.9 150.9 164.6 139.1 155.0 15.8 Ashikaga Balance 33.3 33.9 40.6 33.6 37.8 4.2 (17) Expenses （￥ｂｎ） FY21 FY22 FY23 FY24 1H25 YoY 1H24 Personnel 58.2 57.2 57.0 58.7 31.3 +2.2 29.1 Non-Personnel 43.4 40.0 41.7 44.0 21.9 +0.7 21.1 Taxes 6.5 6.0 6.4 6.5 4.0 +0.4 3.5 Total 108.1 103.3 105.2 109.3 57.3 +3.4 53.8 Personnel 32.7 32.2 32.1 32.6 17.4 +1.1 16.2 Non-Personnel 24.1 22.0 22.7 24.9 12.5 +0.8 11.6 Taxes 3.6 3.3 3.7 3.7 2.3 +0.2 2.0 Total 60.5 57.6 58.5 61.3 32.3 +2.2 30.0 Personnel 25.4 24.9 24.8 26.0 13.9 +1.1 12.8 Non-Personnel 19.2 18.0 19.0 19.1 9.3 -0.0 9.4 Taxes 2.9 2.6 2.7 2.7 1.7 +0.2 1.5 Total 47.6 45.6 46.6 47.9 25.0 +1.2 23.7 J+A Joyo Ashikaga （18）Credit related cost （￥ｂｎ） FY21 FY22 FY23 FY24 1H25 YoY 1H24 J+A 19.6 9.1 3.4 5.9 3.7 +0.7 2.9 Joyo 9.8 5.0 0.6 2.9 1.5 +0.0 1.4 Ashikaga 9.7 4.0 2.8 2.9 2.2 +0.7 1.4 （20）Non-accrual delinquent loans（to Business）(1 month or more) （￥ｂｎ） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY Sep-24 J+A 1.3 1.0 2.1 0.9 1.3 +0.0 1.3 Joyo 0.8 0.7 1.6 0.8 1.1 +0.0 1.1 Ashikaga 0.5 0.2 0.4 0.1 0.2 -0.0 0.2 （19）Disclosed Claims under the Financial Revitalization Law （￥ｂｎ） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY Bankrupt claims 13.8 12.5 14.6 13.4 13.5 +0.1 Doubtful claims 151.1 153.0 151.4 137.9 136.8 -1.1 Claims requiring monitoring 27.6 31.5 29.1 27.5 23.2 -4.3 (Loans past due 3 month or more) 0.0 0.2 0.1 0.1 0.0 -0.0 (Restructured loans) 27.5 31.3 28.9 27.3 23.1 -4.2 Total 192.6 197.1 195.2 178.9 173.6 -5.2 Bankrupt claims 5.4 5.1 4.9 5.7 5.4 -0.2 Doubtful claims 86.5 84.8 82.6 71.3 71.2 -0.1 Claims requiring monitoring 13.3 12.1 9.7 8.3 5.6 -2.7 (Loans past due 3 month or more) 0.0 0.0 0.0 0.1 0.0 -0.0 (Restructured loans) 13.2 12.0 9.6 8.2 5.6 -2.6 Total 105.2 102.1 97.3 85.5 82.3 -3.1 Bankrupt claims 7.7 6.7 9.2 6.8 7.4 +0.6 Doubtful claims 64.6 68.1 68.7 66.5 65.6 -0.9 Claims requiring monitoring 14.2 19.4 19.3 19.1 17.5 -1.5 (Loans past due 3 month or more) 0.0 0.1 0.0 0.0 0.0 -0.0 (Restructured loans) 14.2 19.2 19.3 19.0 17.5 -1.5 Total 86.7 94.2 97.3 92.5 90.6 -1.9 J+A Joyo Ashikaga 完成
Page 31
30 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Menuki Financial Group, Inc. All Rights Reserved. ｜ Mebuki Financial Group, Inc. Corporate Planning Department TEL +81-29-233-1151 E-mail ir@mebuki-fg.co.jp URL https://www.mebuki-fg.co.jp/ Inquiries This document has been prepared for information purposes only and does not form part of a solicitation to sell or purchase any securities. Information contained herein may be changed or revised without prior notice. This document may contain forward-looking statements as to future results of operations. No forward-looking statement can be guaranteed and actual results of operations may differ from those projected. 完成
Page 32
完成 Mebuki Financial Group IR Presentation Financial Results for the First Half of FY2025
Page 33
1 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ Contents Financial Results for 1H25 / Forecast for FY2025 1 (1) Highlights 3-4 (2) 1H25 Financial Results 5 (3) Change of Ordinary Profit 6 (4) Consolidated Net Income / Core Net Business Income 7 (5) Loans 8-9 (6) Average Yield of Loans / Net Interest Income 10 (7) Deposits 11 (8) Expenses / OHR 12 (9) Credit Related Costs 13 (10) Status of Non-performing Loans and Delinquent Loans 14 (11) Shareholder Returns / Capital Adequacy Ratio 15 (12) Forecast for FY2025 16-17 (13) Impact of Domestic Interest Rates Rising 18 (14) Yen-denominated Balance Sheet 19 Progress of Fourth Medium-Term Group Business Plan 2 (1) Overview and Strategic Structure of Fourth Medium-Term Group Business Plan 21 (2) Performance Targets 22 (3) Social Issues Solution Strategy 23-30 (4) Business Portfolio Strategy 31-37 (5) Management Base Resilience Strategy 38-41 Data －Breakdown of Banking Subsidiaries － 3 Breakdown of Banking Subsidiaries 43-48 ＊Unless otherwise mentioned, figures are based on banking subsidiaries (non consolidated-basis). ＊The number used for the year is based on western calendar. 完成
Page 34
2 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 1 Financial Results for 1H25 / Forecast for FY2025 完成
Page 35
3 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 1 （1） Highlights Results for 1H25 YoY Change Progress Net income attributable to owners of the parent Consolidated ¥43.7bn +¥11.7bn Initial (¥70.0bn) 62.5% Revised (¥75.0bn) 58.3% Core net business income*1 Banks’ total ¥56.0bn +¥12.3bn － ( o/w Difference of interests between loans and deposits ) ( o/w Fees from customers ) ( o/w Securities income*2 ) ( o/w Expenses (-) ) (¥61.2bn) (¥22.7bn) (¥29.3bn) (¥57.3bn) (+¥3.6bn) (+¥0.3bn) (+¥11.8bn) (+¥3.4bn) － － － － Gains/losses on securities*3 Credit related costs ¥3.7bn ¥3.7bn +¥4.6bn +¥0.7bn － － Results for １H25 Initial forecast (announced in May 2025) Revised forecast (announced in Nov. 2025) Compared to Initial forecast Ordinary profit Net income attributable to owners of the parent Consolidated ¥100.0bn ¥70.0bn ¥106.0bn ¥75.0bn +¥6.0bn +¥5.0bn ROE (based on net assets) 7.0％ 7.5％ +0.5％pt *1 Excluding gains/losses on cancellation of investment trusts and futures and options *2 Excluding gains/losses on cancellation of investment trusts and including interest on BOJ deposits *3 Gains/losses on “Bond transactions +Related to stocks + Cancellation of investment trusts + Futures and options” Net income attributable to owners of the parent increased by ¥11.7bn YoY to ¥43.7bn, achieving the highest profit for the first half since business integration. While increasing in total expenses by the investment in human capital, etc., the expansion of difference of interests between loans and deposits capturing the rise in domestic interest rates and the increase in securities income, etc. have driven profit growth. Forecast for FY25 (revised on November 10, 2025) 完成
Page 36
4 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ FY2025 (scheduled) Payout Ratio*2 Total Return Ratio*2 32.6％ 72.6％ Total amount of dividends ¥24.4bn Total amount ￥54.4bn = Dividends ￥24.4bn + Share acquisition ￥30.0bn Based on our upward revision of the full-year forecast, etc., we decided to increase dividends. Annual dividends per share is scheduled to increase by ¥2 from the initial forecast to ¥26. Additionally, the share repurchase of ¥7.0 bn announced in October this year was completed on November 17. Total shareholder return for FY25 is expected to be ¥54.4bn, with a total return ratio exceeding 70%. ＊1 Figures are rounded to the nearest 100 million yen. ＊2 Calculated based on the revised consolidated net profit of ￥75.0bn . 1 （1） Highlights Initial forecast (announced in May 2025) Revised forecast (announced in Nov. 2025) Compared to Initial forecast (Reference) Results for FY2024 Annual Dividends per Share ¥24 ¥26 +¥2 ¥16 (Interim) (Year-end) ( ¥12 ) ( ¥12 ) ( ¥12 ) ( ¥14 ) (±¥0 ) ( +¥2 ) ( ¥7 ) ( ¥9 ) Shareholder Return Policy Increase in Dividends Share Acquisition Shareholders Return (Scheduled) Shareholder Return Policy (after the change) We aim to fundamentally achieve a stable and sustainable increase in dividends per share through profit growth, and target a Dividend Payout Ratio of 40% or more by fiscal year 2027. Additionally, the acquisition of own shares will be dynamically managed based on capital management that considers market trends, performance forecasts, and the strategic use of capital to capture growth opportunities. Shareholder Returns for FY25 1st (conducted in April 2025) 2nd (conducted in Oct. 2025) Annual Total YoY Change (Reference) Results for FY2024 Amount of purchase*1 Number of shares Period of purchase ¥23.0bn 38 million shares From Apr.8,2025 to Jun.20,2025 ¥7.0bn 7 million shares From Oct.7,2025 to Nov.17,2025 ¥30.0bn 46 million shares － + ¥10.0bn +14 million shares － ¥20.0bn 31 million shares － 完成
Page 37
5 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 1 （2） Main Points of 1H25 Financial Results Mebuki FG (Consolidated) Joyo + Ashikaga (Non-consolidated) (\bn) YoY Chg Progress Gross Business profit 107.7 8.3 - 資金利益Net interest income 92.2 +14.9 - (o/w Difference of interests betw een loans and deposits) (62.6) (+4.2) - 資金利益Net fees and commissions 25.3 +1.0 - Net trading income 0.3 0.0 - Net other business income -10.1 -7.6 - Expenses 57.9 3.8 - Credit related cost 4.7 2.1 - Gains/losses related to stocks 13.2 +11.7 - Ordinary profit 59.6 +13.6 56.3% Extraordinary income/losses 2.9 +3.1 - 43.7 +11.7 58.3% YoY Bank Total Net income (a) 42.5 +12.9 Group Companies Net income (b) 4.0 +0.8 Mebuki Lease 0.4 -0.0 Mebuki Securities 0.3 +0.0 Mebuki Credit Guarantee 2.9 +0.7 Mebuki Card 0.2 -0.0 Total of banking subsidiaries 0.2 +0.0 Consolidation Adjustment*1 （c） -1.5 -1.5 Consolidation Adjustment*2 （c'） -1.4 -0.5 43.7 +11.7 【Mebuki FG (Consolidated)】 1H25 Results Net income attributable to owners of the parent 1H25 Results Net income attributable to owners of the parent （a）+（b）+（c）+（c'） *1 Mebuki Credit Guarantee received a dividend of ¥1.5 bn from Joyo Credit Guarantee. *2 Adjustments related to securities, etc. *3 Excl. gains/losses on cancelation of investment trusts, and incl. interest on Bank of Japan *4 Gains/losses on bond transactions +related to stocks + cancellation of investment trusts + futures and options (\bn) YoY chg Progress Gross business profit 103.4 +8.3 - Net interest income 92.5 +14.9 - (o/w Gains/losses on cancellation of investment trusts)(1) (1.8) (-0.5) - Net interest income (excl.Gains/losses on cancellation of investment trusts) 90.6 +15.4 - (o/w Difference of interests between loans and deposits(2)) (61.2) (+3.6) - (o/w Securities Income) (29.3) (+11.8) - Net fees and commissions(3) 20.7 +0.9 - Net other business income -9.8 -7.4 - (o/w gains/losses on bond transactions) (4) (-20.0) (-15.2) - (o/w gains/losses on futures and options) (5) (8.2) (+8.3) - (o/w other income related to customers) (6) (2.0) (-0.6) - Expenses(7) 57.3 +3.4 - 46.1 +4.8 - Core net business income 66.1 +20.1 - (excl. gains/losses on cancellation of investment trusts) 64.3 20.6 - 56.0 12.3 - Net transfer to general allowance for loan losses (8) -0.9 +0.0 - Net business income 47.0 +4.7 - Net non-recurrent gains/losses 10.5 +10.7 - (o/w Disposal of non-performing loans (9)) (4.6) (+0.7) - (o/w Gains/losses related to stocks, etc. (10)) (13.6) (+12.1) - Ordinary profit 57.6 +15.4 56.2% Extraordinary income/losses 2.9 +3.1 - Net income 42.5 +12.9 58.3% Profit from customer services (2)+(3)+(6)-(7) 26.7 +0.4 Credit related cost (8)+(9) 3.7 +0.7 Gains/losses on securities (1)+(4)+(5)+(10) 3.7 +4.6 1H25 Results【Joyo + Ashikaga (Non-consolidated)】 Net business income (before general allowance for loan losses) Core net business income (excl. gains/losses on cancellation of investment trusts and futures and options) 完成
Page 38
6 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ The expansion of difference of interests between loans and deposits capturing the rise in domestic interest rates and the increase in securities income due to the maintenance effect of our securities portfolio, etc., have led to increase core net business income (+¥12.3bn, YoY), resulting in ordinary profit (bank total) increasing by ¥15.4 bn (YoY). 1 （3） Change of Ordinary Profit (Bank total / non-consolidated) Year-on-Year Changes of Ordinary Profit (Bank total) (¥bn) 1億円につき 高さ0.1cm Ordinary profit 57.6 Gains/ losses on securities*2 +4.6 Security margins +11.8 Credit related costs (-) +0.7 Net non- recurrent gains/ Losses*3 -0.7 Factors of Increase / Decrease in Main Items (¥bn) Items Breakdown Increase / Decrease Difference of interests between loans and deposits +3.6 Yen denominated loans Foreign currency denominated loans Loans to special account of MoF Yen denominated deposits(-) Foreign currency denominated deposits(-) +18.0 -1.1 +0.3 +13.8 -0.2 Fees from customers +0.3 Fees from corporate customers (incl. derivatives CVA) Customer assets related Individual loans related fees EB / Internet banking related fees Group life insurance related fees (-) +0.5 -0.5 +0.3 +0.2 -0.1 Security margins +11.8 Interest and dividend on securities (Yen denominated) (Foreign currency denominated) Market borrowings, etc. (Yen denominated) (-) (Foreign currency denominated) (-) Interest on Bank of Japan deposits +7.6 -2.3 +3.2 -5.6 +4.0 Gains/losses on securities +4.6 Bond transactions Related to stocks Cancelations of Investment trusts Futures and options -15.2 +12.1 -0.5 +8.3 *1 Excluding gains/losses on cancellation of investment trusts and futures and options *2 Gains/losses on “Bond transactions +Related to stocks + Cancellation of investment trusts + Futures and options” *3 Increase in retirement benefit expenses, etc. Increase Decrease Ordinary profit 42.1 1H24 1H25 YoY +15.4 Core net business income*1 +¥12.3bn Difference of interests between loans and deposit +3.6 Fees from customers +0.3 Expenses (-) +3.4 完成
Page 39
7 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 52.5 52.2 55.9 57.6 61.2 18.6 20.5 20.5 22.4 22.7 24.1 23.5 12.3 17.5 29.3 -54.5 -52.2 -52.6 -53.8 -57.3 40.8 44.1 36.1 43.7 56.0 1H21 1H22 1H23 1H24 1H25 24.7 26.9 23.5 32.0 43.7 4.8% 5.8% 5.1% 6.4% 8.7% 1H21 1H22 1H23 1H24 1H25 1 （4） Consolidated Net Income / Core Net Business Income Changes of Consolidated Net Income / ROE (¥ bn) Consolidated net income increased by ¥11.7bn YoY to ¥43.7bn, maintaining a growth trend. The expansion of difference of interests between loans and deposits capturing the rise in domestic interest rates and the improvement in securities income have led to increase core net business income, resulting in the highest profit for the first half since business integration. Changes of Core Net Business Income*1(Bank total) (¥ bn) +3.4 +3.6 +0.3 +11.8 YoY +11.7 Strengthening human capital and strategic investments Enhancing loan balance / Benefit from rising interest rates Increase in fees from corporate customers by providing escorted support services Portfolio replacement effect ROE (based on net assets) FG consolidated net income Core net business income*1 Difference of interests between loans and deposits Securities income*2 Expenses(-) Profit from customer services *1 Excluding gains/losses on cancellation of investment trusts and futures and options *2 Excluding gains/losses on cancellation of investment trusts *3 Based on Core Gross Business Profit (Excluding gains/losses on cancellation of investment trusts and futures and options) （Core OHR*3） （57.1％） （54.2％） （59.2％） （55.1％） （50.5％） 完成
Page 40
8 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 802.5 988.5 893.8 1,029.6 948.7 1,077.1 1,008.2 5,085.4 5,136.7 5,170.2 5,214.3 5,263.5 5,321.2 5,376.9 5,436.7 5,694.8 5,868.0 6,099.4 6,325.5 6,620.8 6,795.8 11,324.7 11,820.1 11,932.1 12,343.4 12,537.7 13,019.3 13,181.0 Sep-22 FYE22 Sep-23 FYE23 Sep-24 FYE24 Sep-25 Corporate Individual Public 851.0 768.4 781.0 466.2 275.0 340.0 67.4 12,175.8 12,588.5 12,713.2 12,809.6 12,812.7 13,359.3 13,248.4 Sep-23 Sep-24 Sep-25 Total +607.4 +5.3％ +605.6 +5.0％ +643.2 +5.1％ Corporate +431.2 +7.9％ +457.4 +7.7％ +470.2 +7.4％ Individual +84.8 +1.6％ +93.2 +1.8％ +113.3 +2.1％ Public +91.3 +11.3％ +54.8 +6.1％ +59.5 +6.2％ 1 （5） Loans －Term-end Balance－ Term-end Balance *1 (Bank total) (¥bn) Year on Year Changes (¥bn) ＊1 Not including loans to special account of MoF Loans to special account of MoF (¥bn) Total loans (¥bn) YoY Change in Difference of Domestic Interests between Loans and Deposits (¥bn) Amount of loans increased by ¥643.2bn (YoY) and the growth was +5.1%(annualized). Loans to corporate customers maintained a high growth rate, while loans to individual customers also showed steady progress. Difference of domestic interests between deposits and loans increased by ¥4.5bn due to an increase in loan interest (average balance +¥674.0bn, yield +23.2bp) that exceeds the interest paid on deposits. Yield Average Balance +¥674.0bn +23.2bp +¥643.2bn +5.1% +¥605.6bn +5.0% +¥607.4bn +5.3% -2.0 -1.1 -1.1 -1.2 +1.4 +14.5 +1.0 +0.6 +0.3 +2.5 +2.5 +3.5 +0.1 +0.3 +0.0 +0.2 -0.0 +0.0 -2.1 -13.8 -0.9 -0.1 -0.8 +1.3 +1.9 +4.5 1H20 1H21 1H22 1H23 1H24 1H25 Loan yield factor Loan average balance factor Domestic loan factor Deposit factor YoY 完成
Page 41
9 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 0.894 0.892 0.887 0.881 0.874 0.867 0.910 1.002 1.079 1.238 0.7 0.9 1.1 1.3 '23/1Q '23/2Q '23/3Q '23/4Q '24/1Q '24/2Q '24/3Q '24/4Q '25/1Q '25/2Q 0.494 0.503 0.507 0.543 0.664 0.779 0.882 1.095 1.178 1.184 0.3 0.6 0.9 1.2 '23/1Q '23/2Q '23/3Q '23/4Q '24/1Q '24/2Q '24/3Q '24/4Q '25/1Q '25/2Q 1.656 1.637 1.633 1.641 1.678 1.722 1.814 1.905 2.079 2.111 1.4 1.6 1.8 2.0 2.2 '23/1Q '23/2Q '23/3Q '23/4Q '24/1Q '24/2Q '24/3Q '24/4Q '25/1Q '25/2Q 0.874 0.870 0.874 0.887 0.932 0.957 1.001 1.079 1.155 1.223 1.011 1.005 0.999 0.995 1.027 1.059 1.123 1.233 1.330 1.403 0.810 0.805 0.811 0.818 0.828 0.844 0.851 0.870 0.901 0.922 0.7 0.9 1.1 1.3 1.5 '23/1Q '23/2Q '23/3Q '23/4Q '24/1Q '24/2Q '24/3Q '24/4Q '25/1Q '25/2Q Following the increase in domestic policy rate, both floating- and fixed-rates for yen-denominated loans have risen. The interest rate increase in short-term prime-rate linked and market-linked loans have been progressing smoothly. 1 （5） Loans －Yield in Yen-denominated Loans － +38.8bp +37.1bp +67.7bp 完成 Floating-rate Yen-denominated (total) Fixed-rate Short-term Prime-rate Linked Loans (Businesses/Individuals) Yield on Yen-denominated Loans (Quarterly Trend / %) Yield on Short-term Prime-rate Linked Loans (Businesses/Individuals) (Quarterly Trend / %) Market-Linked Loans Short-term Prime-rate Linked Housing Loans Yield on Market-Linked Loans (Quarterly Trend / %) Yield on Short-term Prime-rate Linked Housing Loans (Quarterly Trend / %) 1.032％ （’25/2Q） 0.872％ （’23/1Q） Difference of interests between loans and deposits +40.0bp （ Total after Sep.’24) Increase of short- term prime-rate +71.7bp （ Feb.’24 → Sep.’25） TIBOR 3M （Re）Timing of reflecting the short-term prime rate increase Reflects the short-term prime rate increase for Sep. 2024 (+15.0bp) from Dec. 2024. Reflects the short-term prime rate increase for Mar. 2025 (+25.0bp) from June 2025. Average remaining maturity 4.4 years Floating-rate (excl. MoF) ¥8.2 trillion （62％） Fixed-rate ¥4.8 trillion （37％） Market-linked ¥2.8 trillion （21％） Short-term Prime- rate linked (business/individual)) ¥1.7trillion （13％） Short-term Prime-rate linked (housing) ¥3.6 trillion （28％） 95％ (1H25) Pass-through rate 97％ (1H25) Pass-through rate
Page 42
10 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ Domestic Chg. in Factors Overseas Chg. in Factors Avg Balance +3.0 +3.5 (+674.0) -0.4 (-17.6) Yield +13.8 +14.5 (+23.2bp) -0.6 (-71.5bp) 78.5 +16.9 +18.0 － -1.1 － 0.4 +0.3 +0.3 － － － Interest on deposits (－) 17.7 +13.6 +13.8 － -0.2 － Difference of interests between loans and deposits ① 61.2 +3.6 +4.5 － -0.8 － Avg Balance -2.1 -0.5 (-87.3) -1.6 (-73.6) Yield +6.8 +7.6 (+45.6bp) -0.7 (-15.0bp) 44.8 +4.7 +7.0 － -2.3 － (o/w gains on cancellation of Investment Trusts) 1.8 -0.5 -0.5 － ±0.0 － (excluding gains on cancellation of Investment Trusts） 43.0 +5.2 +7.6 － -2.3 － Market borrowings, etc. (－) 21.8 -2.4 +3.2 － -5.6 － Securities' Income (excluding gains on cancellation of Investment Trusts） ② 21.2 +7.7 +4.3 － +3.3 － Interest on Bank of Japan deposits ③ 8.1 +4.0 +4.0 － ±0.0 － Securities' Income *３ ②＋③＝④ 29.3 +11.8 +8.4 － +3.3 － Net Interest Income (excluding gains on cancellation of Investment Trusts） ①+④ 90.6 +15.4 +13.0 － +2.4 － YoY Change Interest and dividend on securities Results Interest on loans and bills discounted (excluding loans to special account of MoF) (Factor) Loans to special account of MoF Difference of interests between loans and deposits increased by ¥3.6bn (YoY) due to the increase in interest on yen-denominated loans (by ¥18.0bn (YoY)). Securities’ income also increased by ¥11.8bn (YoY) due to the increased revenue from securities portfolio rebalancing and the increase in interest on Bank of Japan deposits. As a result, net interest income increased by ¥15.4bn (YoY). 1 （6） Average Yield of Loans / Net Interest Income +2.4bp +23.2bp Average Yield on Loans*1 (Bank total) ＊1 Not including loans to special account of MoF Changes of Interest Income*2 (Bank total) (¥bn) ＊2 Figures in parentheses are changes on a year on year basis 【Overseas】 【Domestic】 ＋ 【Overseas】 【Domestic】 ＊3 Excl. gains/losses on cancelation of investment trusts, and incl. interest on Bank of Japan deposits. 1.03% 0.97% 0.94% 0.94% 0.97% 0.99% 1.20% 2.93% 1.52% 1.02% 2.10% 4.88% 5.00% 4.29% 1.00% 0.96% 0.94% 0.92% 0.90% 0.92% 1.15% 1H19 1H20 1H21 1H22 1H23 1H24 1H25 -3.7bp -1.9bp -1.9bp -2.1bp 完成
Page 43
11 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ Balance of deposits increased by ¥46.2bn YoY (+0.2% annualized). Although the growth rate is slowing, we have made efforts to strengthen the acquisition of sticky deposits by promoting the use of settlement transactions as the main accounts for both corporate and individual customers. 1 （7） Deposits －Term-end Balance－ Term-end Balance *1 (Bank total) (¥bn) Year on Year Changes (¥bn) ＊1 Including NCD Sep-23 Sep-24 Sep-25 Total +433.7 +2.5％ +178.5 +1.0％ +46.2 +0.2％ Corporate +144.0 +3.5％ +145.4 +3.4％ -18.1 -0.4％ Individual +218.0 +1.8％ +90.3 +0.7％ +36.6 +0.2％ Public +71.7 +6.2％ -57.2 -4.7％ +27.7 +2.3％ Yen-denominated Loan-to-Deposit Ratio / Gap (Average balance/ including NCD) (¥bn) The loan-to-deposit ratio recovered to the 70% range, due to the increase in loans. The loan-to-deposit gap widened during the COVID-19 pandemic. Loan-to-Deposit Gap Loan-to-Deposit Ratio 1,140.8 1,455.2 1,212.5 1,414.6 1,155.3 1,420.8 1,183.0 11,925.2 12,035.1 12,143.2 12,222.5 12,233.6 12,269.1 12,270.2 4,088.9 4,085.0 4,233.0 4,235.7 4,378.4 4,309.3 4,360.3 17,155.0 17,575.4 17,588.8 17,872.9 17,767.3 17,999.2 17,813.6 Sep-22 FYE22 Sep-23 FYE23 Sep-24 FYE24 Sep-25 Corporate Individual Public +46.2bn +0.2% +178.5bn +1.0% +433.7bn +2.5% 4,824.4 5,457.1 5,881.9 5,736.1 5,267.0 4,967.3 69% 66% 65% 67% 70% 72% FY20 FY21 FY22 FY23 FY24 1H25 完成
Page 44
12 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ While reducing existing costs, proactive investments in human capital and sales-related areas led to total expenses of ¥57.3bn, an increase of ¥3.4bn YoY . OHR decreased to the range of 50%, due to an increase in the top line including investments effect. 1 （8） Expenses / OHR System integration Expenses / OHR (Bank total) (¥bn) Factors of Change (¥bn) 1H25 YoY Main Factors Personnel expenses 31.3 +2.2 Increase in salary and starting salary +1.2 Bonuses +0.4 Non- personnel expenses 21.9 +0.7 Outsourcing expenses +0.7 (Bond hedging-related, recruitment-related expenses) Advertising and promotion expenses + 0.2 (Individual loans, customer assets related, etc) Depreciation expenses -0.6 (Amortization of core system integration costs completed.) Taxes 4.0 +0.4 Size-based business tax +0.3 Consumption tax +0.1 ＊1 Based on Core Gross Business Profit (Excluding gains/losses on cancellation of investment trusts and futures and options) OHR*1 YoY (by segment) Personnel +2.2 (+7.7％) Non-personnel +0.7 (+3.5％) Taxes +0.4 (+12.8％) 3.9 3.7 3.5 3.4 3.5 4.0 21.6 21.4 19.9 20.4 21.1 21.9 30.1 29.2 28.7 28.7 29.1 31.3 55.7 54.5 52.2 52.6 53.8 57.3 62.2% 57.1% 54.2% 59.2% 55.1% 50.5% 1H20 1H21 1H22 1H23 1H24 1H25 -1.2 (-2.2％) +3.4 (+6.4％) -2.2 (-4.1％) +0.4 (+0.8％) +1.1 (+2.2％) 完成
Page 45
13 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 1H23 1H24 1H25 YoY Credit Related Costs -0.2 2.9 3.7 +0.7 Net transfer to general allowance for loan losses (-3.9) - -1.0 -0.9 +0.0 Disposal of non-performing loans -0.2 3.9 4.6 +0.7 Write off of loans Transfer to specific allowance for loan losses Transfer to provision for contingent losses Reversal of allowance for loan losses(-) Recoveries of written-off claims(-) Other 1.4 (3.0) - -0.1 0.8 0.9 0.2 1.9 2.5 0.1 - 1.0 0.2 3.4 3.1 0.4 - 2.8 0.4 +1.4 +0.6 +0.2 - +1.7 +0.1 Credit related costs for 1H25 were ¥3.7bn, which is generally in line with the full-year plan of ¥9.0bn (- ¥1.0bn from the initial forecast). Amid changes in the external environment (such as U.S. mutual tariffs, rising prices and resource costs, and labor shortages, etc.) , we will continue to focus on supporting business improvement for our customers. 1 （9） Credit Related Costs 31.5 13.7 13.2 13.7 4.5 4.5 9.5 7.9 9.3 19.0 22.4 19.6 9.1 3.4 5.9 0.38% 0.09% 0.18% 0.20% 0.18% 0.08% 0.03% 0.05% FY10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25 Credit cost ratio 0.6 7.7 2.2 9.0 0.1 4.0 0.5 4.3 -0.1 -0.0 1.4 2.3 0.8 2.0 2.0 0.9 2.4 1.2 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q Balance of Loans by the Program (Bank total) 7,433 loans / ￥92.6bn During deferred period Started Repayments 76.1％ Started Repayments 86.7％ During deferred period Not changed 89.3％ Changed terms Not changed 86.2％ Changed terms 完成 Change of Credit Related Costs (¥bn) 【Annual】 FY2010～ Breakdown of Credit Related Costs (¥bn) 【Quarter】 FY2021～ Status of Repayments of Loans based on the COVID-19 Special Loan Program (as of end of September 2025) Status of Contractual Repayments Status of Changes of Terms (Number f loans) (Balance) (Number of loans) (Balance) FY2021 FY2022 FY2023 FY2024 FY2025 Forecast ¥9.0bn 1H result ¥3.7bn
Page 46
14 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 2.0 3.3 1.3 1.0 2.1 2.5 1.3 1.3 0.9 0.8 1.3 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Ratio of non-performing loans based on financial revitalization law to total amount of loans remained at the same level as of end of the previous fiscal year, at 1.30%. We have maintained a high-quality loan portfolio. Status of delinquent loans to businesses also remained stable, with the loan amount of ¥1.3 bn as of the end of September. 1 （10） Status of Non-performing Loans and Delinquent Loans Sep-24 Sep-25 Non-performing Loans (Financial Revitalization Law) (¥bn) Status of Delinquent Loans to Businesses (¥bn) 【Reference】 Status of Bankruptcy Number of bankruptcies (Total liabilities amounting to 10 million yen or more） - by Tokyo Chamber of Commerce - Ibaraki Prefecture Tochigi Prefecture*1 *1 Specific major borrower’s bankruptcy of ¥433.0bn in FY11 is excluded from above figures. 1H23 1H24 1H25 77 / ¥15.7bn 72 / ¥10.8bn 71 / ¥9.2bn 1H results (number/amount) 1H23 1H24 1H25 60 / ¥7.1bn 80 / ¥8.5bn 89 / ¥6.6bn 1H results (number/amount) Number of bankruptcies Amount of total liabilities (¥bn) Number of bankruptcies Amount of total liabilities (¥bn) 完成 70.8 19.4 31.6 49.1 30.9 19.4 16.7 15.2 17.1 9.1 14.8 28.9 32.7 33.7 9.2 178 138 148 154 118 126 120 111 140 111 100 123 140 146 71 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 1H25 30.6 33.7 25.7 30.7 16.6 25.6 20.7 18.5 12.3 11.9 15.9 18.4 14.4 13.7 6.6 119 121 103 148 130 144 106 102 89 95 95 96 127 152 89 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 1H25 27.4 27.6 31.5 29.1 27.5 23.2 143.2 151.1 153.0 151.4 137.9 136.8 10.3 13.8 12.5 14.6 13.4 13.5 181.0 192.6 197.1 195.2 178.9 173.6 1.53% 1.61% 1.55% 1.52% 1.33% 1.30% FYE20 FYE21 FYE22 FYE23 FYE24 Sep-25 Bankrupt and substantially bankrupt claims Doubtful claims Claims requiring supervision Non-performing loan ratio
Page 47
15 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 12.9 12.9 12.8 12.7 11.9 11.7 12.3 15.8 24.4 2.0 4.0 19.5 5.0 20.0 20.0 30.0 12.9 14.9 16.8 12.7 31.5 16.7 32.3 35.8 54.4 30.0% 32.3% 46.2% 34.9% 73.3% 52.2% 74.5% 61.5% 72.6% 27.8% 35.3% 34.9% 28.2% 36.7% 28.7% 27.4% 32.6% FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 (forecast) 43.0 46.3 36.3 36.4 42.9 32.1 43.3 58.2 75.0 11 11 11 11 11 11 12 16 26 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 (forecast) Annual dividends per share is scheduled to increase by ¥2 from the initial forecast to ¥26 (+ ¥10 from the previous year). The share repurchase of ¥7.0 bn announced in October this year was completed on November 17. Total shareholder return for FY25 is expected to be ¥54.4bn, with a total return ratio of 72.6%. 1 （11） Shareholder Returns / Capital Adequacy Ratio Capital Adequacy Ratio Risk-weighted assets (¥ bn) Capital (¥bn) FG Consolidated Net Income (¥bn) 43.0 46.3 36.3 36.4 42.9 32.1 43.3 58.2 75.0 Controlling in the mid 11% range *1 Figures are rounded to the nearest 100 million yen. Shareholder Return Policy (Revised in March 2025) Dividends Share acquisition We aim to fundamentally achieve a stable and sustainable increase in dividends per share through profit growth, and target a Dividend Payout Ratio of 40% or more by fiscal year 2027. The share acquisition will be dynamically managed based on capital management that considers market trends, performance forecasts, and the strategic use of capital to capture growth opportunities. Target in Medium-Term Plan Capital Adequacy Ratio (Mebuki FG consolidated) Annual Dividends per Share Annual dividends per share(¥) Consolidated net income(¥bn) Dividends / Shareholder Returns TRR Payout Ratio Share purchase (¥bn)*1 Dividends（¥bn） Shareholder return is expected to reach a record high since business integration Increase in dividends per share through profit growth 7,174.7 7,320.0 6,213.4 6,548.5 6,958.5 6,926.9 780.2 799.6 828.0 832.8 849.4 857.1 10.87% 10.92% 13.32% 12.71% 12.20% 12.37% FYE20 FYE21 FYE22 FYE23 FYE24 Sep-25 完成
Page 48
16 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ Based on the results for 1H25 and future outlook, we revised the consolidated earnings forecast upward. For the fiscal year 2025, we plan consolidated ordinary profit of ¥106.0bn, an increase of ¥6.0bn from the initial forecast, and net income of ¥75.0bn (+ ¥5.0bn from the initial forecast). 1 （12） Forecast for FY2025 Mebuki FG Consolidated (¥bn) Total of Two Subsidiary Banks (¥bn) Subsidiary Banks (Non-consolidated) (¥bn) Forecast for FY2025 (Ordinary Profit / Net Income) Forecast for FY2025 Results for 1H25 Compared to initial forecast Progress Ordinary Profit 106.0 +6.0 59.6 56.3％ Net income attributable to owners of the parent 75.0 +5.0 43.7 58.3％ Forecast for FY2025 Results for 1H25 Compared to initial forecast Progress Ordinary Profit 102.5 +7.5 57.6 56.2％ Net Income 73.0 +6.0 42.5 58.3％ Forecast for FY2025 Results for 1H25 Compared to initial forecast Progress Ordinary Profit 37.5 +3.5 19.9 53.2％ Net Income 26.0 +2.5 14.0 53.8％ Ashikaga Bank Forecast for FY2025 Results for 1H25 Compared to initial forecast Progress Ordinary Profit 65.0 +4.0 37.6 57.9％ Net Income 47.0 +3.5 28.5 60.8％ Joyo Bank 完成
Page 49
17 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ Factors Reasons Difference of interest between loans and deposits +3.5 (Yen-denominated) Interest on loans +6.5 / Interest on deposits(-)+1.5 (Foreign currency) Interest on loans ±0.0 / Interest on deposits(-) ±0.0 Interest on loans to special account of MoF -1.5 Securities’ income +4.5 Increase in dividends from investment trusts and stocks, etc. Increase in interest on BOJ deposits +1.5 Fees from customers +0.5 Increase in income from FX derivative transactions Increase in business support related fees (M&A, etc.) Expenses(-) +1.5 Human capital investment aimed at salary increases and securing human resources Sales related strategic investment (Advertising, outsourcing expenses, etc.) Gains/losses on securities* -1.5 Profit improvement by the change in our securities portfolio Gains on sales due to the reduction of strategic shareholdings Credit related costs (-) -1.0 Reflecting the current stable situation 1 （12） Forecast for FY2025 Main Reasons of Change (compared to initial forecast) (¥ bn) Market Scenario (Policy rates in Japan and U.S.A.) Policy rate (End of fiscal year) 10 year government bond yield Perspective Japan 0.50％ From 1.10 to 1.70％ Policy rate remains unchanged during FY25. U.S.A. 4.00％ From 3.70 to 4.80％ Two interest rate cuts during FY25. 1 2 3 4 5 6 （\bn） 1H25 YoY Results Progress Core gross business profit 225.5 +12.5 121.6 53.9% Net interest income (Excluding gains/losses on cancellation of inv estment trusts) 178.0 +8.0 90.6 50.9% Difference of interests between loans and deposits 124.0 +3.5 61.2 49.4% Securities' income (Excluding gains/losses on cancellation of investment trusts) 54.0 +4.5 29.3 54.3% (O/W Interest on Bank of Japan deposits) 13.5 +1.5 8.1 60.3% Fees from customers *1 43.0 +0.5 22.7 52.9% Expenses 116.5 +1.5 57.3 49.2% Core net business income*2 104.5 +7.0 56.0 53.6% Gains/losses on securities *3 4.0 -1.5 3.7 92.7% Credit related costs 9.0 -1.0 3.7 41.4% Ordinary profit 102.5 +7.5 57.6 56.2% Net income 73.0 +6.0 42.5 58.3% Profits of Group Companies 6.0 +2.0 4.0 68.3% Consolidation adjustment (Adjustments related to securities,etc. ) -4.0 -3.0 -2.9 - Net income attributable to owner of the parent 75.0 +5.0 43.7 58.3% ROE (based on net assets) 7.5% +0.5% 8.7% - RORA 1.07% +0.09% 1.25% - Forecast for FY25 【Joyo+Ashikaga】 【Mebuki FG Consolidated】 Breakdown of Forecast for FY2025 *1 Net fees and commissions + Income related to derivatives for customers + foreign exchange *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” 1 2 3 4 5 6 完成
Page 50
18 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ +164 +259 +347 1年後 2年後 3年後 +245 +356 +459 1年後 2年後 3年後 1 （13） Impact of Domestic Interest Rates Rising +¥16.5bn （+1.1％） Impact on Net Interest Income (Effect on ROE improvement*1) Interest on loans Interest on deposits (-) Interest on BOJ deposits Interest on yen- denominated bonds +¥46.0bn （+3.1％） +¥35.5bn （+2.4％） +¥24.5bn （+1.6％） +¥35.0bn （+2.3％） +¥26.0bn （+1.7％） 完成 Assuming the yen-denominated balance sheet as of Sep. 30, 2025, we have estimated the impact on net interest income due to the rising interest rate. If the policy rate increases to 0.75%, the positive impact after 3 years is expected to be approximately ¥35.0bn. And if the policy rate increases to 1.00%, the impact is expected to be around ¥46.0bn. Impact on Net Interest Income (Estimate / Bank total) Simulation 1 Interest rate scenario ： Policy rate 0.75％(+0.25%) Simulation 2 Interest rate scenario ： Policy rate 1.00％(+0.50%) • TIBOR：Rise approximately in line with policy rate. • Short-term prime rate：2.625% • 5-year swap rate(base rate of fixed-rate loans): 1.20% • TIBOR：Rise approximately in line with policy rate. • Short-term prime rate：2.875% • 5-year swap rate(base rate of fixed-rate loans): 1.45% ＜Assumption＞ Balance of loans, deposits and yen bonds will stay the same as the portfolio as of end of Sep. 2025. The pass-through rate for housing loans to the short-term prime-rate is set at 100%. For businesses / individuals, at 70%. Fixed-rate loans will be executed at the rate of the due date based on current 5-year swap rate for maturing amounts. The pass-through rate is set at 70%. Deposit rate is set with the pass-through rate of 40% for liquid deposits and 60% for time deposits (incl. NCDs). Yen bonds will reflect the rise in interest rates for the repurchase of maturing fixed-rate bonds and floating-rate bonds (asset swaps). Consider the decrease in balance of BOJ’s deposits due to the maturity of the Bank of Japan’s Common Collateral Operations (loan enhancement support operations). ＊1 The effect on ROE improvement was calculated based on net assets as of the end of Sep. 2025. ≒Main scenario of the Mid-Term Plan (FY2026-FY2027) 1 year later 2 years later 3 years later 1 year later 2 years later 3 years later Interest on loans Interest on BOJ deposits Interest on yen- denominated bonds Interest on deposits (-)
Page 51
19 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 1 （14） Yen-denominated Balance Sheet Breakdown of Yen-denominated Balance Sheet (as of end of September 2025) Floating rate 60％ （¥11.5 trillion） Fixed rate 35％ （¥6.7 trillion） Others 4％ （¥0.9 trillion） Floating rate （Including lending to special account of MoF） ） 63％ （¥8.3 trillion） Fixed rate 37％ （¥4.8 trillion） 2,181.4 1,081.4 1,177.2 370.7 Within 3 years 4-5 years 6-10 years Over 10 years (Composition ratio：45％) （22％） （24％） （8％） 完成 Assets Liabilities Deposits Floating rate Liquid 17.7 trillion yen 15.6 trillion yen 13.3 trillion yen (92%) (81%) Fixed -term (less than 1 year) 1.8 trillion yen Negotiable 0.4 trillion yen Fixed rate (1- less than 5 years) (Term deposits) 2.0 trillion yen 2.1 trillion yen (Over 5 years) (11%) 0.1 trillion yen Market borrowing Short-term borrowing 0.1 trillion yen 0.1 trillion yen (1%) (1%) Others Borrowing from BOJ 1.5 trillion yen 1.5 trillion yen (8%) (8%) Total liabilies 19.2 trillion yen - - ※ The average remaining maturity of fixed rate loans (¥ 4.8 trillion) is 4.4 years. Composition of Assets by Interest type (Total Assets：¥19.2 trillion) (Loans ：¥13.1 trillion) Composition of Loans by Interest type Status of the domestic loan ladder (¥ bn) Floating rate （Including lending to special account of MoF） 63％ （ ¥8.3 trillion） Fixed rate 37％ （¥4.8 trillion） Loans Floating rate Short-term prime- 13.1 trillion yen 8.3 trillion yen rate linked (68%) (43%) 5.4 trillion yen Market-rate linked 2.8 trillion yen MOF 0.1 trillion yen Fixed rate Maturity 4.8 trillion yen (within 5 years) (25%) 3.3 trillion yen (5-10 years) 1.2 trillion yen (Over 10 years) 0.4 trillion yen Securities Yen denominated Asset swaps 3.3 trillion yen bonds 0.7 trillion yen (17%) 2.6 trillion yen (within 5 years) (14%) 1.0 trillion yen (5-10 years) 0.8 trillion yen (Over 10 years) 0.1 trillion yen Investment trust, etc. 0.7 trillion yen Others Deposits with BOJ 2.7 trillion yen 2.5 trillion yen (14%) (13%) Total assets 19.2 trillion yen - -
Page 52
20 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 2 Progress of Fourth Medium-Term Group Business Plan （ Plan Period: April 1, 2025 to March 31, 2028） 完成
Page 53
21 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Menuki Financial Group, Inc. All Rights Reserved. ｜ 2 （1） Overview and Strategic Structure of Fourth Medium-Term Group Business Plan The Fourth Medium-Term Group Business Plan aims to enhance corporate value by creating both social and economic value. In this plan, we will advance initiatives in which the reorganized materiality and business strategies (Social Issues Solution Strategy, Business Portfolio Strategy, and Management Base Resilience Strategy) are integrated. Materiality Support the growth of local industries Contribute to a safe and prosperous lifestyle Contribute to decarbonized society and environmental conservation Management Base Materiality Provide high-quality services to be chosen by customers consistently Strengthen management base for value creation Management Base Resilience Strategy Advance risk management Add value through DX Promote alliances Strengthen human capital and promote DE&I Enhance corporate value through capital management Business Portfolio Strategy Social Issuses Solution Strategy Provide solutions to promote the growth of businesses Support to prepare for 100-Year Life Assist the sustainability of local communities Initiatives for regional revitalization Corporate (local) Individuals Public Sector Corporate (urban) Structured Finance Securities Enhancing Corporate Value Social Value Economic Value Business Materiality 完成 Basic Strategy 1 Basic Strategy 2 Basic Strategy 3 “ Period for Accelerating Evolution toward Sustainable Growth ” Positioning of the 4th Medium-Term Plan
Page 54
22 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ Individual Strategies Main KPIs FY2024 results FY2027 plan 1H25 results Provide solutions to promote the growth of businesses Local corporate loan balance (average) Fees from corporate customers (total of banking business) ¥3.3654 trillion ¥16.3 billion ¥3.4380 trillion ¥8.5 billion ¥3.69 trillion ¥17.5 billion Support to prepare for 100-Year Life The balance of assets under custody (total of banking and Mebuki Securities) Individuals’ loan balance(average) ¥2.5115 trillion ¥5.2538 trillion ¥2.7191 trillion ¥5.3335 trillion ¥3.200 trillion ¥5.60 trillion Assist the sustainability of local communities - Enhancing Initiatives for regional revitalization - Amount of sustainable finance executed (cumulative total since FY21) Of which, Social sector Of which, Environmental sector ¥1.7462 trillion ¥0.5243 trillion ¥1.2219 trillion ¥1.9701 trillion ¥0.5778 trillion ¥1.3922 trillion ¥3.2 trillion ¥1.0 trillion ¥2.2 trillion Social Issues Solution Strategy Business Portfolio Strategy Add value through DX Strategic DX investment (cumulative 3 years) Number of users - banking application Reduce clerical work at branches ¥7.0 billion 1.34 million users (around 40% of individual customers) - 56.6% (as compared to FY19 Q4) ¥1.2 billion 1.42 million users (around 40% of individual customers) - 6.1% (as compared to FY24 Q4) ¥14.0 billion 2.20 million users (around 60% of individual customers) - 30.0%*3 (as compared to FY24 Q4） Strengthen human capital and promote DE&I Human capital investment (cumulative 3 years) Percentage of female employees in manager positions or higher ¥2.5 billion 22.9％ ¥0.4 billion 23.8％ ¥3.0 billion 27.0％ RWA (risk asset) *¹ RORA*2 (based on core gross business profit) ¥6.13 trillion 3.1％ ¥6.09 trillion 3.4％ ¥6.94 trillion 3.4％ 2 （2） Performance Targets – Main KPIs for Each Strategy – Summary of Main KPIs for Each Strategy Management Base Resilience Strategy 完成 *1 The total value of business segments (combined with banks) is shown. *2 RORA is calculated by (core gross business profit / RWA). *3 As compared to 4Q of FY 2019, RORA is expected to decrease by about 70%.
Page 55
23 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 148.2 144.2 98.4 137.6 167.2 224.8 226.8 1H19 1H20 1H21 1H22 1H23 1H24 1H25 Corporate loans are on an increasing trend regardless of corporate size or area. Capturing strong demand for equipment financing following the COVID-19 pandemic and working capital needs driven by rising prices and resource costs, the loan balance has maintained a high growth rate of +7.4% (annualized). 2 （3） Social Issues Solution Strategy – Provide solutions to promote the growth of businesses – Amount of increase/decrease(YoY) (Annual change ratio) Balance Sep-25 Sep-24 Sep-23 Sep-25 Real estate Manufacturing Financial / Insurance Transportation / Postal service Leasing +142.4 +83.6 +76.2 +37.8 +34.9 （+8.7%） （+6.2%） （+11.1%） （+11.2%） （+9.0%） +69.4 +74.9 +153.8 +10.6 +43.9 （+4.4%） （+5.9%） （+29.0%） （+3.2%） （+12.8%） +63.7 +65.4 +124.4 +8.2 +18.7 （+4.2%） （+5.4%） （+30.7%） （+2.6%） （+5.8%） 1,779.2 1,436.5 759.9 375.6 421.7 3,705.8 3,804.4 3,882.7 3,958.9 4,023.8 4,173.2 4,249.8 1,730.8 1,890.4 1,985.2 2,140.5 2,301.7 2,447.5 2,545.9 5,436.7 5,694.8 5,868.0 6,099.4 6,325.5 6,620.8 6,795.8 Sep-22 FYE22 Sep-23 FYE23 Sep-24 FYE24 Sep-25 +470.2(+7.4％) 完成 Corporate - Term-end Balance by Company Size - (¥bn) Corporate - Term-end Balance by Area - (¥bn) Growth rate (YoY) End of Sep. 2025 +7.4% End of Sep. 2024 +7.7% YoY by segment (+5.6％) （+226.0） (+10.6％) （+244.2） Large Medium / SMEs +470.2(+7.4％) YoY by segment (+5.4％) （+200.7） (+10.2％) （+269.5） Tokyo Local 3,347.9 3,459.3 3,526.9 3,591.9 3,695.3 3,820.8 3,896.1 2,088.8 2,235.5 2,341.0 2,507.5 2,630.1 2,799.9 2,899.6 5,436.7 5,694.8 5,868.0 6,099.4 6,325.5 6,620.8 6,795.8 Sep-22 FYE22 Sep-23 FYE23 Sep-24 FYE24 Sep-25 Amount of Equipment Financing*1 (¥bn) *1 Excluding housing loans and apartment loans Amount of equipment financing 1H23 1H24 1H25 （+21.4％） （+29.5） （+34.3％） （+57.6） （+0.8％） （+2.0） YoY (After COVID-19) Driven by strong demand for equipment financing, the execution amount has exceeded pre-COVID19 levels. Top 5 industries by Increase in Loans (¥bn)
Page 56
24 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 86.7 89.9 94.5 15.0 15.3 17.7 1H23 1H24 1H25 88.2 89.9 93.2 22.8 31.7 33.3 FY22 FY23 FY24 Outstanding balance Contract amount of Lease/Installment Reviewing management strategies Improving productivity by digitalization Developing human resources Diversifying funding sources 316 879 1,310 2,180 2,659 3,134 10 15 24 40 49 56 FYE20 FYE21 FYE22 FYE23 FYE24 Sep-25 Investment amount (cumulative) Number of Investments (cumulative) 208 345 282 26 41 64 FY22 FY23 FY24 Number of customers for which business imrovement plans wereformulated Number of customers with improved credit We provide multiple and comprehensive solutions to our customers’ diverse challenges by leveraging Group sales synergies and collaborating with organizations within and outside the Group. We will support sustainable growth according to the customer's business stage. 2 （3） Social Issues Solution Strategy – Provide solutions to promote the growth of businesses – Investment in Startups*1 (investment subsidiaries) (Number of investment s, investment amount: ¥ million) Lease / Installment*2 (Mebuki Lease) (Contract amount : ¥ bn, Outstanding balance : ¥bn) Personnel Introduction (Number of applications(cumulative), Number of contracts (cumulative)) Customers for which business improvement plans / business restructuring were formulated (managed by head office) (Number of companies) 完成 Strengthening our investments in companies that can aim for collaboration with our Group and local businesses. 195 382 575 772 1,069 1,216 47 163 237 328 478 585 1,842 2,952 3,690 4,575 6,321 7,014 FY20 FY21 FY22 FY23 FY24 Sep-25 Number of contracts (personnel introduction) Number of contracts (HR BM)*3 Number of applications Collaborating with both subsidiary banks to meet diversifying funding needs. Supporting sustainable corporate management that overcomes changes in the business environment Challenges faced by local SMEs Rising prices/ resource costs, interest rate hikes, chronic labor shortages, and population decline Providing various measures from a multifaceted perspective Ratio of total investment amount through funds around 10% Increased to around 30% of the total ＊1 Investments for startups companies through funds managed by our investment subsidiaries. ＊2 Outstanding balance of receivables is as of the end of each fiscal year. Contract amount excludes re-leases. Amid the worsening labor shortage, providing one-stop services (such as securing, retaining, and developing personnel, DE&I support) to companies. ＊3 Business matching related to personnel, including the introduction of side jobs and secondary jobs, as well as tools for hiri ng high school graduates.
Page 57
25 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 2 （3） Social Issues Solution Strategy – Provide solutions to promote the growth of businesses – 完成 Although derivative transactions aimed at risk hedging declined, fees from corporate customers increased by ¥0.5bn YoY to ¥8.5bn due to an increase of the fees related to arrangement of syndicate loans and business matching, etc. +0.52 (+6.5%) 1H23 1H24 1H25 YoY Credit related (1) 4.97 6.51 5.95 -0.55 Derivatives Syndicate loans Private placement bond 0.99 3.35 0.62 2.70 3.28 0.53 1.52 3.84 0.58 -1.17 +0.56 +0.05 Credit risk in derivative transactions*1（-） (2) -0.23 0.56 0.05 -0.51 Credit related (3) ((1)+(2)) (After considering credit risk in derivative transactions) 5.21 5.94 5.90 -0.04 Consulting related (4) 1.98 2.09 2.66 +0.56 Business Matching Support for business planning M&A Executive Insurance Trust ・401K 0.64 0.88 0.15 0.22 0.06 0.81 0.60 0.30 0.29 0.07 1.04 0.70 0.51 0.32 0.06 +0.23 +0.09 +0.21 +0.03 -0.00 Total （(3)+(4)） 7.19 8.04 8.56 +0.52 Breakdown of Fees from Corporate Customers (Bank total) (¥bn) *1 The credit risk in derivative transactions is recorded as the difference between CVA and DVA at the end of each fiscal year, subtracted by the difference between CVA and DVA at the end of the previous fiscal year. CVA(Credit Valuation Adjustment) reflects the credit risk of counterparties in derivative transactions in the market value. DVA（Debt Valuation Adjustment） reflects the credit risk of our two banking subsidiaries in the market value. *2 Before considering credit risk in derivatives transactions Fees from Corporate Customers (Bank total) (¥bn) ■Consulting related fees ■Credit related fees (after considering credit risk in derivatives transactions*1 ) 4.14 3.94 4.39 4.86 5.96 5.90 7.09 (Re) Fees from Corporate Customers Excluding Derivatives Transactions*2 (¥bn) 3.80 3.47 3.47 5.04 5.21 5.94 5.90 0.73 0.77 1.38 1.68 1.98 2.09 2.66 4.53 4.25 4.86 6.72 7.19 8.04 8.56 1H19 1H20 1H21 1H22 1H23 1H24 1H25
Page 58
26 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 157 302 515 10 21 21 1H23 1H24 1H25 644 583 852 27 33 40 FY22 FY23 FY24 301 296 353 423 377 430 1H23 1H24 1H25 389 608 673 656 849 790 FY22 FY23 FY24 649 816 1,048 2,419 2,232 2,794 1H23 1H24 1H25 998 2,700 1,525 221 442 236 1H23 1H24 1H25 2 （3） Social Issues Solution Strategy – Provide solutions to promote the growth of businesses – 5,127 2,412 4,029 838 467 703 FY22 FY23 FY24 1,257 1,402 1,605 3,985 4,784 4,750 FY22 FY23 FY24 完成 Leveraging the expertise of business matching partners to support customers in solving their challenges Providing one-stop support “Current situation analysis➡Issue identification➡Execution assistance” Strengthening strategic M&A services for core regional companies Providing risk hedging solutions for customers engaged in transactions with overseas parties Derivatives (Number of contracts, Profit：¥ million) Business Matching (Number of paid contracts, Profit :¥ million) Number of contracts Profit Through consulting with escorted support services, we share management challenges with our customers. To further strengthen and develop core companies that drive the regional economy, we will propose strategies tailored to each customer. Number of contracts Profit ＊1 Total of support for business planning and consulting for business succession (including simulation of own shares). Support for Business Planning / Consulting for Business Succession*1 (Number of contracts, Profit：¥ million) M&A Consultation (Number of contracts, Profit：¥ million) Number of M&A contracts M&A profit Number of paid contracts Business Matching Fees
Page 59
27 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ Balance of customer assets under custody increased by ¥269.2bn YoY (+10.9% annualized). Investment trusts and JGBs have led an increase in the balance with the spread of new NISA and the rise in domestic interest rates, etc. There has been a risk-off movement due to concerns over high valuations and uncertainty ahead caused by U.S. mutual tariffs, mainly in investment trusts, resulting in an decrease of related commissions compared to the same period of the last fiscal year. 2 （3） Social Issues Solution Strategy – Support to prepare for 100-Year Life – 完成 2.69 2.68 3.98 3.33 3.75 4.35 3.64 2.34 1.57 1.67 2.48 2.42 1.63 1.61 0.36 0.24 0.25 0.39 0.22 0.11 0.13 0.27 0.29 0.63 0.45 0.36 0.34 0.41 1.02 1.33 2.05 1.39 1.20 1.16 1.25 6.72 6.18 8.60 8.07 8.00 7.69 7.10 1H19 1H20 1H21 1H22 1H23 1H24 1H25 Mebuki Securities Financial instrument intermediary service JGB etc. Foreign currency deposits Insurance *Excl. executive life insurance Investment trust (Sales commission + Trust fee) 611.9 654.0 710.9 822.5 860.6 878.8 997.2 883.3 884.0 930.8 927.6 893.9 918.2 955.3 127.5 91.1 110.3 101.7 87.9 98.9 101.0 146.1 131.7 127.3 147.6 180.1 196.1 218.3 440.1 414.2 384.8 409.9 427.2 419.2 447.2 2,209.2 2,175.1 2,264.4 2,409.5 2,449.9 2,511.5 2,719.1 Sep-22 FYE22 Sep-23 FYE23 Sep-24 FYE24 Sep-25 Mebuki Securities JGB etc. Foreign currency deposits Insurance Investment trusts +269.2 (+10.9%) -0.58 (-7.5%) Balance (Bank Total + Mebuki Securities) (¥bn) Commissions (Bank Total + Mebuki Securities) (¥bn) (Re) Balance of Mebuki Securities by product Sep-22 Balance/Composition Seo-25 Balance/Composition Investment trust Structured bonds Domestic/ Foreign bonds Others 220.4（50.0%） 159.2（36.1%） 31.1（7.0%） 29.2（6.6%） Investment trust Domestic/ Foreign bonds Others Structured bonds 357.8（80.0%） 64.6（14.4%） 20.2（4.5%） 4.4（0.9%） Total 440.1 Total 4,472
Page 60
28 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ Specialized staff to respond to elderly customers and their families （Joyo Bank / “Smileful Partners”） Specialized consulting personnel （Ashikaga Bank / “Wealth LA” “Trust Consultants”） 13,253 37,470 61,329 74,905 2,652 6,681 10,589 12,990 FY22 FY23 FY24 1H25 Number of participants(cumulative from FY21) Number of lectures(same as above) 4.7 6.3 7.1 41 46 48 1H23 1H24 1H25 Purchase amount Number of contracts*2 115 188 210 377 434 427 1H23 1H24 1H25 Inheretance related profit Number of inheretance related contracts We provide one-stop services that support customers’ life planning, and contribute to the realization of secure and affluent lives throughout their entire lifetimes. Additionally, we will contribute to the realization of asset formation that fulfills our customers’ goals and dreams and the improvement of financial literacy in local regions and to the expansion of opportunities for students to attend higher education. 2 （3） Social Issues Solution Strategy – Support to prepare for 100-Year Life – Improvement of Financial Literacy (Number of lectures, Number of participants: people) Asset Building for Working-age Customers*1 (Number of contracts: thousand, Purchase amount: ¥ bn) NISA Accounts*3 (Number of accounts ： thousand) Inheritance Related Business*4(Number of contracts, Profit :¥ million) 完成 2,570 4,742 7,974 8,872 47 94 161 195 FY22 FY23 FY24 1H25 Number of participants(cumulative from FY21) Number of lectures(same as above) Holding outreach classes and workplace seminars. 175 182 188 194 199 208 212 217 FYE21 Sep-22 FYE22 Sep-23 FYE23 Sep-24 FYE24 Sep-25 Number of NISA accounts NISA utilization rate for accumulated investment trusts (as of end of Sep., 2025) Number of NISA accounts is top class among regional banks. Developing proposal-based sales by professional staff. Strengthening contact with customers through sales in the workplace and seminars, etc. NISA utilization 87.5％ Establishment of consulting system Financial/non-financial services related to inheritance 9.1 9.8 13.2 40 42 44 FY22 FY23 FY24 Financial Education for Students Financial Education in Workplace ＊1 40s or younger ＊2 As of the end of the fiscal year ＊3 "Junior NISA" accounts excluded after Mar. 31, 2024, due to the start of the new NISA system(only new NISA accounts are included). ＊4 Total of testamentary trust, testamentary preparation support service, estate settlement service, and asset succession planning service, etc. We address not only inheritance-related issues but also challenges related to asset management, such as effective real estate use and pre-departure cleaning, as well as lifestyle concerns like housekeeping and introduction to nursing care facilities.
Page 61
29 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 181.3 170.8 183.3 163.6 146.2 1668 1629 5.4 5.8 5.2 3.7 3.1 2.6 1.2 186.8 176.7 188.6 167.4 149.4 169.4 164.1 13,360 11,741 12,580 11,791 10,702 10,337 9,406 1H19 1H20 1H21 1H22 1H23 1H24 1H25 11.1 12.4 14.0 13.1 19.7 22.8 23.0 4.2 3.0 3.9 4.8 7.6 7.2 8.6 2.3 1.2 1.8 1.8 2.2 1.9 2.1 9.1 7.7 10.9 9.9 9.5 10.8 10.7 26.8 24.5 30.7 29.8 39.1 42.9 44.4 1H19 1H20 1H21 1H22 1H23 1H24 1H25 Despite a decline in the number of housing starts in Ibaraki and Tochigi prefectures, execution amount of housing related loans has been maintained at the same level as the previous year, continuing to increase in balance. Unsecured loans extended its execution amounts, mainly in educational loans, and its balance continued to grow significantly, at an annual rate of 11.6%. 2 （3） Social Issues Solution Strategy – Support to prepare for 100-Year Life – Individual – Execution Amount of Housing Related Loans – (¥bn) Individual – Execution Amount of Unsecured Loans – (¥bn) +1.5(+3.5％) 完成 *1 The number of housing starts is the cumulative total from April to August of each fiscal year. -5.2(-3.1％) New loans Refinance (-2.3％) （-3.9） (-53.4％) （-1.3） (Re) Housing starts (total of Ibaraki and Tochigi Prefectures)*1 +86.7(+1.7％) +28.7(+11.6％) Individual - Housing Related Loans - (¥bn) YoY by segment YoY by segment (+2.4％) （+100.4） (-1.6％) （-13.4） Loans for asset building Apartment Loans Housing Loans (+15.1％) （+15.8） (+11.0％) （+6.4 ) (+2.2％) （+0.2） (+8.5％) （+6.2） Card Loans Free Loans Educational Loans Car Loans Individual - Unsecured Loans - (¥bn) Growth rate (YoY) End of Sep. 2025 +1.7% End of Sep. 2024 +1.4% Growth rate (YoY) End of Sep. 2025 +11.6% End of Sep. 2024 +13.7% 73.4 79.0 86.3 95.7 104.4 113.6 120.2 46.3 49.3 51.8 55.8 58.3 62.2 64.8 9.4 9.7 10.2 10.8 10.9 10.9 11.1 64.3 66.0 68.2 70.1 72.7 75.4 79.0 193.5 204.2 216.7 232.5 246.4 262.3 275.2 Sep-22 FYE22 Sep-23 FYE23 Sep-24 FYE24 Sep-25 3,915.4 3,972.9 4,006.7 4,049.4 4,097.3 4,148.7 4,197.7 855.9 845.2 834.3 823.4 813.0 805.0 799.6 2.2 1.9 1.8 1.6 1.3 1.2 1.1 4,773.6 4,820.2 4,842.8 4,874.5 4,911.7 4,955.1 4,998.5 Sep-22 FYE22 Sep-23 FYE23 Sep-24 FYE24 Sep-25 YoY by segment YoY by segment Car Loans Educational Loans Free Loans (+0.7％) （+0.1） (+18.5％) （+1.3） (+7.1％) （+0.1） Card Loans (-1.0％) （-0.1）
Page 62
30 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ Environmental Field Solar power generation support loans Renewable energy and energy- saving equipment investments ZEH mortgage loans PIF, SLL, etc. 4,254 2,811 2,739 2,508 18,195 12,079 7,552 5,460 22,450 14,890 10,291 7,968 -33.6% -54.1% -64.5% FY13 ・・・ FY22 FY23 FY24 ・・・ FY30 Scope1 emissions Scope2 emissions (compared to FY13) Our Group will contribute to regional sustainability by functioning as a hub for regional revitalization. We will continue to strive to reduce the environmental burden of our corporate activities and further strengthen decarbonization engagement with our customers through proactive information disclosure. 2 （3） Social Issues Solution Strategy – Assist the sustainability of local communities – Sustainable Finance (Execution amount (cumulative)：¥bn) CO2 Emissions*1 Reduction (Mebuki FG) (CO2 emissions：t-CO2） Promotion of Cashless Payment in Local Regions (Mebuki Card) (Number of member stores acquired, Sales at member stores: ¥bn) Promoting discovery and dissemination of regional products 完成 Distribution and monetization of regional content as our “main business” Sales of regional product Support for development of new products Operation of e-commerce sites Electric power business, etc. Expanding sales channels for regional products in the Tokyo metropolitan area (Commencement of transactions with retailers operating mainly in the Tokyo metropolitan area) Support for development of new products (Shop sales at local accommodations and establishment of new accommodation plans that include packages with the same products) 756,9 1,221.9 1,392.2 2,200.0 400,5 524,3 577,8 1,000.0 615.4 1,157.4 1,746.2 1,970.1 3,200.0 FY22 FY23 FY24 1H25 ・・・ FY27 Environmental field Social field Set a new target of ¥3.2 trillion in cumulative total by fiscal 2027. ＊1 Total CO2 emissions of Scope 1 + Scope 2 for the entire company, including all group companies. Net Zero Strengthening our own efforts to reduce CO2 emissions to promote regional decarbonization. Business description Initiatives Established through joint investment by Ashikaga Bank and three other local companies Social Filed Startup financing Business succession and M&A- related financing Transition finance Public infrastructure renewal funds, etc. 90.2 97.0 105.8 710 762 420 1H23 1H24 1H25 Sales at member stores Number of member stores acquired We promote cashless payments at multi-store locations and local governments, resulting in increased transaction volumes. 176.9 186.2 203.4 1,275 1,308 1,268 FY22 FY23 FY24 We began using “Persefoni”, a PCAF- approved carbon accounting platform. We will expand the scope of our calculations and increase the sophistication of our calculation methods. Scope3
Page 63
31 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 2 （4） Business Portfolio Strategy － By Business Segment － Our business segments are divided into six categories and further divided into three focus areas: Risk-Taking, RORA, and Risk Control. Through this approach, we aim to drive business growth (expansion of core gross business profit) and raise RORA. 完成 Direction of Risk-taking by Business*1・2 Business segments FY24 1H25 Factors of Change Compared to FY24 Corporate (local) 3.3％ 3.6％ +0.3％ Capturing interest rate rise effects Accumulating balances in floating- rate loans Individual 4.7％ 4.8％ +0.1％ Capturing interest rate rise effects Steady acquisition of unsecured loans Corporate (urban) 1.9％ 2.3％ +0.4％ Capturing interest rate rise effects Higher-than-expected fee income (derivatives) Structured Finance 1.5％ 1.8％ +0.3％ Capturing interest rate rise effects Selection of projects and accumulation of balance with a focus on profitability Public Sector*4 0.5％ 0.5％ ±0.0％ Despite continuied profitability- focused efforts with fixed-rate loans, interest margins remain flat due to rising deposit rates Securities 2.0％ 2.5％ +0.4％ Improvement in margins on equity- type and floating assets Partial reduction of low-profitability assets Total 3.1％ 3.4％ +0.3％ Status of RORA in Each Business Segment *1 The size of the circle indicates the size of the business (core business gross profit). *2 Loans and securities are recorded by the formula: “balance x (nominal yield - average yield on deposits) ”. *3 Since risk assets are not calculated for the public sector, the horizontal axis represents loan balance and the vertical axis represents ROA (core business gross profit / loan balance). *4 ROA of the public sector = core business gross profit / loan balance Risk Assets (RWA) * ³ RORA *3 Emphasis on Risk-Taking Individual Corporate (urban) Structured Finance Public *³ Securities Contributing to the sustainable growth of the region by utilizing capital capacity The increase in loan balance of individuals and local corporates exceeded the Third Medium-Term Group Business Plan, driving the improvement in the loan-to-deposit ratio. Emphasis on RORA More investment and loans in growth areas Corporate (local) Emphasis on Risk Control Appropriately managing interest rate risk while reducing strategic shareholdings * : As compared to Third Mid-Term Group Business Plan
Page 64
32 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ The balance of structured finance is steadily increasing by continuous personnel increase and expansion of investment / financing fields. In the Forth Medium-Term Plan, structured finance is positioned as an “RORA-focused area,” aiming to improve profitability through “Engagement in mezzanine finance” and “In-depth risk analysis.” 2 （4） Business Portfolio Strategy － Structured Finance－ 358.8 439.0 625.2 552.8 661.5 2.5 4.6 6.5 2.8 4.7 FYE22 FYE23 FYE24 Sep-24 Sep-25 26people 33people 37people 36people Composition of Balance (as of end of Sep. 2025) Profit Term-end Balance Real estate non-recourse loan 32.6% (¥215.9bn) Solar power 17.9% (¥119.0bn) Repackaged loan 14.8% (¥98.3bn) ※There are no loan receivables backed by government bonds. Biomass, hydropower, etc. 9.6% (¥63.8bn) LBO loan 6.3% (¥41.8bn) PFI 4.7% (¥31.1bn) Credit-linked loan 3.9% (¥26.0bn) Ship / Aircraft Finance 2.4% (¥16.2bn) Others 7.4% (¥49.2bn) 43people 完成 Balance / Profit of Structured Finance (Bank total) (¥bn) Composition of Balance by Asset Type (Bank total) Headcount related to Structured Finance Positioning as a “RORA-focused area” in the 4th Medium- Term Plan aiming to improve profitability through “Engagement in mezzanine finance” and “In-depth risk analysis.”
Page 65
33 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ We continued operations while closely monitoring domestic and international monetary policies and stock price trends, resulting in the balance (carrying amount) of ¥4,181.5bn. We implemented a partial replacement of domestic bonds (asset swaps) for the purpose of risk control and profit improvement, securing valuation gains (after considering deferred gains (losses) on hedges) of ¥128.9 bn. 2 （4） Business Portfolio Strategy － Securities (Overall Portfolio) － 完成 2.4 -21.3 -34.4 -33.3 -103.5 -128.6 35.6 -14.2 -13.9 -14.6 -8.3 -2.8 139.4 131.5 101.7 151.9 113.6 140.1 33.1 32.9 -28.4 4.6 8.8 59.8 210.7 128.9 24.9 108.6 10.6 68.5 FYE20 FYE21 FYE22 FYE23 FYE24 Sep-25 4.0 -18.0 -30.1 -33.8 -68.3 -70.9 139.7 132.7 101.7 151.9 113.6 139.3 33.1 32.9 -28.4 4.6 8.8 59.8 35.6 -14.2 -14.5 -11.7 -5.2 0.6 212.5 133.3 28.5 111.0 48.9 128.9 FYE20 FYE21 FYE22 FYE23 FYE24 Sep-25 -6.2 -7.1 -87.3 -39.2 -40.4 -20.0 10.0 3.5 45.0 18.7 22.7 13.6 6.8 1.7 7.1 5.2 3.6 1.8 -0.1 -0.4 8.0 3.9 -0.4 8.2 FY20 FY21 FY22 FY23 FY24 1H25 Gains/losses on futures and options Gains/losses on cancellation of investment trustsGains/losses related to stocks Gains/losses on bond transactions Balance (Consolidated / Carrying amount) (¥bn) Unrealized valuation gains/losses on available for sales securities *3 (Consolidated) (¥bn) Gains and losses on securities*2 (bank total) (¥bn) Unrealized valuation gains/losses on securities *3 －After considering deferred gains(losses) on hedges*4－ *1 Excl. stocks without market quotations (unlisted stocks etc.). ＊2 Gains/losses on “cancellation of investment trusts + bond transactions + related to stocks + futures and options” *4 Unrealized valuation gains/losses on interest rate swap for hedging purposes related to available for sales securities *3 After considering adjustments arising from the difference in carrying amounts of securities (PPA) Gains/losses on securities Total (¥bn) 10.4 -2.3 -27.0 -11.2 -14.5 3.7 1.7 4.3 3.5 2.3 38.2 60.4 Deferred gains(losses) on hedges(¥bn) Investment trusts, etc. Stocks Domestic bonds Foreign bonds Investment trusts, etc. Stocks Domestic bonds Foreign bonds Domestic bonds Foreign bonds -¥20.0bn O/W ASW -¥13.1bn +¥0.0bn 2,510.6 2,745.1 2,205.9 2,363.8 2,512.4 2,462.1 959.5 967.3 622.8 836.0 797.5 818.5 265.8 254.1 211.3 278.7 243.8 257.6 597,2 715.5 622.2 654.8 659.3 643.2 4,333.2 4,682.3 3,662.3 4,133.5 4,213.2 4,181.5 FYE20 FYE21 FYE22 FYE23 FYE24 Sep-25 Investment trusts, etc. Stocks Foreign bonds Domestic bonds ＜Replacement of domestic bonds (ASW ¥90.0bn)＞ Before：¥90.0bn（20 years）, SPR：0.08％、10bpv： -¥1.5bn After ：¥90.0bn（10years）, SPR：0.21％、10bpv： -¥0.7bn Loss on sales of bonds related to ASW① ：-¥13.1bn Gains on cancellation of ASW② ：+¥8.2bn Loss on replacement of ASW（①+②） ： -¥4.8bn
Page 66
34 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 0 3,000 6,000 9,000 ASW 1 year 2 - 3 years 4 - 6 years 7 - 9 years 10 years - Balance (FYE23) Balance (FYE24) Balance (Sep-25) For domestic bonds, part of the floating-rate bonds (asset swaps) were replaced (¥90.0bn / from20-year to 10-year maturities) for risk control and profit improvement. We will continue to closely monitor domestic interest rate trends, repurchase bonds corresponding to the amount redeemed, and increase the yield on our holdings. 2 （4） Business Portfolio Strategy － Securities (Domestic bonds) － FYE23 FYE24 ① Balance 2,412.4 (O/W ASW 90.0) 2,626.5 （O/W ASW 700.0） Valuation gains/losses*2 -26.6 -66,9 Yield 0.45％ 0.77% 10bpv -9.5 -8.9 Duration 3.9 years 3.3 years Sep-25 ② Change ②－① Balance 2,597.0 （O/W ASW 705.0） -29.4 Valuation gains/losses*2 -68.7 -1.7 Yield 0.92％ +0.14％pt 10bpv -8.6 +0.2 Duration 3.3 years -0.0 years FY25 1Q（Apr-Jun） FY25 2Q（Jul-Sep） 1H25 cumulative Purchase +approx. 60.0 （O/W ASW 25.0） +approx. 165.0 （O/W ASW 70 0） +approx. 225.0 （O/W ASW 95.0） Sale -approx. 25.0 （O/W ASW20.0） -approx. 90.0 （O/W ASW 70.0） -approx. 115.0 （O/W ASW 90.0） Redemption -approx. 75.0 -approx. 65.0 -approx. 140.0 Total -approx. 40.0 +approx. 10.0 -approx. 30.0 Gains/losses on securities*3 -2.1 -9.6 -11.7 ＊4 私募債を除く、アセットスワップ（ASW）は想定元本ベースにて記載 ASW 1-3 years 4-6 years 7-9 years 10 years - Sep-25 about 0.78％ about 0.25％ about 0.90％ about 0.85％ about 1.65％ FYE24 about 0.75％ about 0.20％ about 0.85％ about 0.75％ about 1.25％ FYE23 about 0.15％ about 0.25％ about 0.60％ about 0.45％ about 0.70％ Yield on Domestic Bonds by Maturity (Bank Total) Going forward, we will continue to repurchase bonds corresponding to the amount redeemed and increase the yield on our holdings. 完成 Overview of Domestic Bonds*1 (Bank Total) (¥bn) *1 Including bear funds and hedged swaps, etc. Asset swaps(ASW) are stated on notional amount basis. *2 After considering adjustments arising from the difference in carrying amounts of securities (PPA) *3 After considering the gains on cancellation of swap (futures and options gains/losses) due to the replacement of asset swaps(ASW) . *4 Excluding private placement investment trusts. Asset swaps(ASW) are stated on notional amount basis. Status of Domestic Bond's*4 Ladder / Yield by Year (Bank Total) (¥bn) 900.0 600.0 300.0 0.0
Page 67
35 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 0 1,000 2,000 3,000 4,000 ASW 1year 2years 3years 4years 5years 6years 7years 8years 9years 10years Balance (FYE23) Balance (FYE24) Balance (Sep-25) For foreign bonds, we maintain a balanced portfolio consisting of floating-rate bonds (CLOs / ASW) and fixed-rate bonds. We will secure stable interest margins from floating-rate bonds and expect expanded margins from fixed-rate bonds due to lower funding cost, in a rate-cutting phase. 2 （4） Business Portfolio Strategy － Securities (Foreign currency bonds) － Overview of Foreign Currency Bonds (Bank Total / USD Bonds) (¥bn) FYE23 FYE24 ① Balance ( O/W Floating –rate bonds) 820.9 ( 353.1 ) 783.7 ( 396.4 ) Yield 5.41％ 4.79％ Funding cost 5.03％ 4.06％ Interest Margin 0.37％ 0.73％ 10bpv -2.4 -2.0 Duration 3.0 years 2.5 years Sep-25 ② Change ②－① Balance ( O/W Floating –rate bonds) 802.0 （416.9） +18.3 Yield 4.94％ +0.15％pt Funding cost 3.94％ -0.11％pt Interest Margin 1.00％ +0.27％pt 10bpv -1.8 +0.2 Duration 2.1 year -0.3 year FY25 1Q（Apr-Jun） FY25 2Q（Jul-Sep） 1H25 cumulative Purchase +approx.55.0 （39.0） +approx.31.0 （22.0） +approx.86.0 （61.0） Sale -approx.10.0 -approx.7.0 -approx.17.0 Redemption -approx.25.0 -approx.17.0 -approx.42.0 Total +approx.20.0 +approx.7.0 +approx.27.0 Foreign exchange factor -approx.30.0 +approx.21.0 -approx.9.0 Gains/losses on securities +0.0 +0.0 +0.0 Status of Foreign Currency Bond's Ladder (Bank Total / USD Bonds *1 ) (¥bn) Floating/fixed Ratios of Foreign Bonds (Bank Total / USD Bonds*2) ＊2 アセットスワップ（ASW）を含む 22.2% 36.4% 43.0% 50.5% 51.9% FYE21 FYE22 FYE23 FYE24 Sep-25 Floating Fixed 完成 400.0 300.0 200.0 100.0 0.0 *1 Floating-rate bonds are recorded as 1 year. Asset swaps(ASW) are stated on notional amount basis. *2 Including asset swaps. We expect stable interest margins from floating- rate bonds and expanded margins from fixed-rate bonds due to lower funding cost.
Page 68
36 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ We have controlled the risk amount and duration of both yen-denominated bonds and foreign bonds, taking into account interest rate trends. In a situation where uncertainty in domestic and international financial markets is increasing, we have built a securities portfolio with appropriate risk tolerance. 2 （4） Business Portfolio Strategy － Securities (Controlling interest rates risk) － 完成 Risk amount (10bpv *2 ) （¥bn） Yen-denominated Bonds*1 (Bank total) Duration*3（year） Yield（％） Foreign Bonds*1 (Bank total/ USD-denominated) Securities spread (Total of fixed and floating bonds:％) Risk amount (10bpv *2 ) （¥bn） Duration*3（year） *1 After considering hedging by bear funds and swaps *2 Decrease in the present value when assuming interest rates rise by 10bp (0.10%) for all periods *3 Average remaining period for principal in bonds investment L S Risk amount L S Risk amount -16.6 -11.4 -10.9 -9.5 -9.7 -8.9 -8.6 Sep-22 Mar.-23 Sep-23 Mar-24 Sep-24 Mar-25 Sep-25 6.3 5.3 5.1 3.9 3.5 3.3 3.3 Sep-22 Mar.-23 Sep-23 Mar-24 Sep-24 Mar-25 Sep-25 -2.4 -1.9 -2.1 -2.4 -2.0 -2.0 -1.8 Sep-22 Mar.-23 Sep-23 Mar-24 Sep-24 Mar-25 Sep-25 3.2 3.2 3.2 3.0 2.5 2.5 2.1 Sep-22 Mar.-23 Sep-23 Mar-24 Sep-24 Mar-25 Sep-25 0.41% 0.42% 0.44% 0.45% 0.57% 0.77% 0.92% Sep-22 Mar.-23 Sep-23 Mar-24 Sep-24 Mar-25 Sep-25 0.62% 0.39% 0.29% 0.37% 0.51% 0.73% 1.00% Sep-22 Mar.-23 Sep-23 Mar-24 Sep-24 Mar-25 Sep-25
Page 69
37 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ Since the end of March 2023, the reduction of strategic shareholdings amounted to 40 issues, with a book value reduction of ¥11.6bn. Although the market value reduction has already exceeded the target of ¥30bn, due to the impact of the overall rise in the stock market, the net amount increased by ¥4.0bn. 2 （4） Business Portfolio Strategy － Strategic Shareholdings－ 229.1 191.9 150.9 164.6 139.1 155.0 Less than 120.9 98.8 79.1 64.9 57.5 54.4 53.3 22.9% 20.0% 16.6% 16.6% 14.4% 15.0% FYE20 FYE21 FYE22 FYE23 FYE24 Sep-25 FYE27 Market value Reduction of Strategic Shareholdings*1 (¥bn) Reduction Target (set on May 2023) Reduction of listed strategic shareholdings by ¥30.0bn at market value in 5 years from end of FY22 to end of FY27 299 266 253 234 213 218 Number of issues Compared to FYE22 （benchmark) Reduction of 40 issues *1 Figures are strategic shareholdings (including listed or non- listed stocks) held by Joyo Bank, which owns more than two-thirds stocks owned by Mebuki FG and subsidiaries. Reduction result by the end of Sep. 2025 (market value basis) Compared to FYE22 (benchmark) + ¥4.0bn Reduction - ¥32.7bn Change in market value + ¥36.7bn Ratio to net assets Market value Book value Compared to FYE22 （benchmark) Book value reduction of ¥11.6bn Benchmark 完成
Page 70
38 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 38.7% 11.7% 29.0% 38.0% 44.8% 56.2% 67.5% All 70s 60s 50s 40s 30s 20s 7.0 14.0 3rd plan 4th plan 73 87 99 112 123 133 142 '22/9末 '23/3末 '23/9末 '24/3末 '24/9末 '25/3末 '25/9末 Number of Banking App Users (10 thousand people) Store Rating*1 4.50 2 （5） Management Base Resilience Strategy － Add value through DX － Aiming to expand the number of users to approximately 60% (2.2 million people) in the 4th mid-term plan. DX Investment amount Main anticipated investment targets (4th mid-term plan) Sep-25 119 people Sep-25 501people Sep-25 4,054 people More than once a Month 73.2% More than once a Week 58.5% 14,329 7,010 6,349 5,827 4,315 2,499 2,295 2,315 18,644 9,510 8,645 8,142 FY19 ・・・ FY23 FY24 1H25 Branches Business Concentration Dept. Improvement of Digital Channels / Enhanced DX Infrastructure 1H25 ：¥1.2 bn About 40% of Individual customers Banking App Users (Bank total) Banking App Penetration (Bank total) Banking App Activity Rate (Bank total) （Number of users：10 thousand） Penetration rate of individual active customers by age group Steadily gaining popularity among generations who can’t be met regularly. Addressing the imbalance across different age groups by further improving convenience. By updating approximately every three months, we will expand the functionalities to make the app more convenient and user-friendly. Active rate (as of end of Sep.2025) Sep-22 Mar-23 Sep-23 Mar-24 Sep-24 Mar-25 Sep-25 ＊1 Average of “Joyo Banking App and “Ashikaga Banking App” ratings on the Apple Store and Google Play（as of November 2025). Strategic DX Investment (Bank total) Development of DX Personnel (Bank total) （Investment amount (3 years cumulative ）：¥bn) Reduction of Volume of Operation (Bank total) （Average volume of operation per day (each fiscal year)： hours ) Renewal of CRM/SFA Review of branch systems Expansion of tablet transactions over the counter Modernization of the working environment, etc. Strengthening investment to create added value through the promotion of DX DX Basis Personnel Core Personnel DX Leaders Level Requirements DX Leaders Personnel who have DX-related expertise and practical skills who plan and drive new business creation using digital technology Core Personnel Personnel capable of promoting DX within the banks and among customers DX Basis Personnel Personnel with a certain level of IT knowledge and PC skills. ※ The certification criteria was partially revised from FY25. 1H25 result Compared to FY19 -56.3% The overall office workload has been cut in half through using digital efficiencies. 完成
Page 71
39 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ Streamlining daily operations Policy 01 We are establishing an environment to provide appropriate generative AI solutions to the necessary employees for each target task based on three pillars: “Streamlining daily operations," “Support for specialized tasks," and “Advancement and efficiency of planning and review." Direction for Utilizing Generative AI 完成 2 （5） Management Base Resilience Strategy － Add value through DX － Measures under the 4th Plan Policy for Generative AI Expected Roles of Generative AI Intended Users Generative AI Solution Support for specialized tasks Advancement and efficiency of planning and review Quickly providing appropriate information in response to questions Execution of tasks based on specific requirements in designated operations (promptless) High-accuracy sounding board for tasks such as researching the latest information and organizing issues ChatGPT (GPT-4.1) AI agent platform *1 (under trial) Google Gemini (Gemini 2.5Pro) Improving Productivity through Strategic Use of Data and AI Policy 03 Policy 02 All employees Employees for each target task (Set for each use case) Head Office Employees (in charge of planning and review) Few Many Number of intended users *1 This AI system autonomously(*) executes tasks within a closed environment, where multiple AI agents collaborate to achieve high-quality response accuracy. We have started a pilot project to verify its effectiveness in tasks such as automatic generation of business documents like approval requests, multilingual translation of specialized documents in finance and accounting, and automation of information security measures (automatic detection and anonymization of confidential information). (*) Tasks are executed without writing prompts, for example, by simply updating files or running on a timer.
Page 72
40 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ By proposing solutions based on customer challenges, we avoid simply selling products. We support the work of young employees who may not yet be fully aware of the available solutions. Joyo Bank and Ashikaga Bank have built an environment where all employees are able to use ChatGPT (Azure OpenAI) by a closed network. Furthermore, we have built a RAG environment and started internal use for three use cases. Going forward, we will expand the use cases. Current Status of Generative AI Utilization 完成 2 （5） Management Base Resilience Strategy － Add value through DX － Purpose Utilization Status Summary, translation, document review, proofreading, information gathering / organization, etc. Developing a collection of prompt examples, deploying 27 types of prompts by setting default prompts , for internal use. A prompt contest was held, awarding 11 types. Additional prompt examples are being added sequentially. Utilization Status is managed on a weekly basis. Streamlining daily operations (Prompt) Reference to screening information by industry （RAG） Advanced and efficient sales solution search (RAG) Improving efficiency of information search for operators’ responses at call center （RAG） Industry-specific screening information is stored in the RAG environment, enabling chat-based output of necessary information to assist in business loan proposals and credit decisions. Sales staff use this to investigate business matching (BM) partner solutions that the bank can introduce in response to customer challenges and needs. ※providing answers based on approximately 700 BM partner solutions. For inbound call inquiries, it is used to search for information to answer questions. ※responding based on related standard procedures and manuals (applications and loan products, etc.). Case Study (Sales Solution Search Service) A nursing care provider operating multiple care facilities consulted us with the following issue. Currently, attendance is managed using time cards, and the results printed from the time cards are manually entered into the payroll system, which is inefficient. Is there an efficient attendance management system available? To improve efficiency, a cloud-based attendance management system is highly effective. The following services are especially recommended. 1.Service A They centralize attendance management on the cloud, automating clock-in/out, attendance requests, and aggregation. The aggregated data can be exported for payroll calculation services, greatly improving back-office operations.・・・(continued) 2.Service B ・・・(Detailed Description of Service B) 3.Service C ・・・ (Detailed Description of Service C) These systems enable centralized management of attendance data across multiple facilities and offer smooth integration with payroll processing. Propose solutions that can be introduced at banks. AI ※Approximately 700 solutions are prepared across various fields (DX, SDGs, construction, real estate, etc.)
Page 73
41 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 84 115 125 63 459 499 583 324 160 181 212 93 703 795 920 480 FY22 FY23 FY24 1H25 Internal trainee related*1 External trainee related*2 Others*3 30 68 106 72 14.4% 24.2% 30.3% 21.6% FY22 FY23 FY24 1H25 Number of mid-career recruitments Ratio of mid-career 60 79 79 47 FY22 FY23 FY24 1H25 19.3% 21.6% 22.9% 23.8% 33.3% 35.2% 36.6% 38.0% FYE22 FYE23 FYE24 Sep-25 female ratio (Manager) female ratio (Assistant Manager) 2 （5） Management Base Resilience Strategy – Strengthen human capital and promote DE&I – Change in surveys scores Aug.’25 75points Jul.’25 64％ To over 30% in the medium to long term. 完成 Building a Human Resources Portfolio Aimed at Improving Corporate Value Human Capital Investment (Bank total) Human Capital Survey (Joyo) Actual Ratio of Female Employees in “Manager” and ”Assistant Manager” Positions or Higher (Bank total) （Investment amount: ¥million) ＊4 A score that assesses whether the individual is fulfilling the role required for the job, calculated by combining skill level (self-assessment) and skill utilization ability (evaluation by others).(it’s evaluated on an 8-level scale from Level 1 to 8.) ＊5 Behavioral Characteristics commonly observed in high-performing personnel (skills, values, thinking, personality, etc.) Longitudinal analysis / Relationship to performance ① 23％ of employees improved their JOB level. ② Confirmed that performance increases with each level rise in JOB level. Individual : Performance increased dept. by 6.0％(average) Corporate : Performance increased dept. by 11.9％(average) Analysis of characteristics of high JOB level personnel ① Identified the competencies*5 of high JOB level personnel by department and age group. Individual (20s): Problem-solving skills dept. (30s): Leadership Corporate (20s): Leadership dept. (30s): Problem-solving skills Leadership ① Qualification: FP Skills Certification Level 2 (Individual asset consulting) ② Training program: Consulting Sales Enhancement Training Through the analysis of survey results targeting branch staff (about 1,500 people), we identified qualifications and training programs that are likely to lead to improve performance. Example of Qualifications and Training Programs *1 External lecture expenses/educational materials expenses *2 Personnel expenses for external training and trainee dispatchers and payments to trainee destinations *3 Training expenses other than the above (home study system, core learning course fees, qualification incentives, sales qualification examinations, etc.) Cumulative investment amount for 3rd Medium-Term Plan (FY22 to FY24) is ¥2.5 bn. For 4th Medium-Term Plan, we plan a cumulative Investment of ¥3.0 bn. Actual Number of Trainees Dispatched to Inside and Outside the Group (Bank total) Employee Engagement Surveys (Joyo/Ashikaga) Number of trainees dispatched (people) Mid-career Recruitment (Bank total) (Number of recruitments ：people) Actively recruiting personnel who can immediately contribute to our operations Dispatching trainees primarily in the consulting and DX-related fields. Joyo Bank (Tool used: Wevox)*6 The benchmark (average for financial institutions of similar size) is 68 points, and our performance compares favorably. Ashikaga Bank (Tool used: Qualtrics Employee XM）*7 Nov.’22 (initial survey) 71points ＊6 Survey scores for employees at branches ＊7 Survey scores for all employees Nov.’23 (initial survey) 52％ Percentage of positive responses to engagement questions Percentage of positive responses increased by 12% pts.
Page 74
42 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 3 Data －Breakdown of Banking Subsidiaries－ 完了
Page 75
43 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 3 Breakdown of Banking Subsidiaries （１）P/L for 1H25 （￥ｂｎ） J+A YoY Joyo YoY Ashikaga YoY Gross business profit 103.4 +8.3 59.2 +2.5 44.2 +5.8 123.5 +23.5 75.6 +16.5 47.8 +7.0 Net interest income 92.5 +14.9 54.3 +7.7 38.2 +7.1 1.8 -0.5 1.2 -0.3 0.5 -0.2 Net fees and commissions 20.7 +0.9 11.5 +0.6 9.1 +0.2 Net other business income and Net trading income -9.8 -7.4 -6.6 -5.8 -3.1 -1.6 (o/w gains/losses on bond transactions) -20.0 -15.2 -16.4 -14.0 -3.6 -1.2 Expenses 57.3 +3.4 32.3 +2.2 25.0 +1.2 o/w Personnel expenses 31.3 +2.2 17.4 +1.1 13.9 +1.1 o/w Non-personnel expenses 21.9 +0.7 12.5 +0.8 9.3 -0.0 46.1 +4.8 26.9 +0.2 19.2 +4.5 Core net business income 66.1 +20.1 43.3 +14.3 22.8 +5.8 64.3 +20.6 42.0 +14.6 22.2 +6.0 56.0 +12.3 33.8 +6.2 22.2 +6.0 Net transfer to general allowance for loan losses (a) -0.9 +0.0 0.0 +0.2 -1.0 -0.1 Net business income 47.0 +4.7 26.8 +0.0 20.2 +4.7 Net non-recurrent gains/losses 10.5 +10.7 10.8 +9.6 -0.2 +1.0 o/w Disposal of non-performing loans (b) 4.6 +0.7 1.4 -0.1 3.2 +0.9 o/w Gains/losses related to stocks, etc. 13.6 +12.1 10.9 +10.1 2.6 +2.0 Ordinary profit 57.6 +15.4 37.6 +9.6 19.9 +5.8 Extraordinary income/losses 2.9 +3.1 2.9 +3.1 0.0 -0.0 Net income 42.5 +12.9 28.5 +8.9 14.0 +4.0 Profit from customer services＊1 26.7 +0.4 15.5 -0.5 11.1 +1.0 Credit related costs (a)+(b) 3.7 +0.7 1.5 +0.0 2.2 +0.7 *1 Difference of interests betw een loans and deposits＋Fees from Customers＋Expenses（-） (Core Gross business profit) o/w Gains/losses on Cancellation of Investment trusts Net business income (before general allowance for loan Core net Business Income （exclu. Gains/losses on Cancellation of Investment trusts） （exclu. Gains/losses on "Cancellation of investment trusts", "Futures" and "Options"） （２）Average Yield on Loans(excluding borrowing from special account of MoF) FY21 FY22 FY23 FY24 1H25 YoY 1H24 Domestics 0.93% 0.91% 0.90% 0.97% 1.15% 0.23% 0.92% Overseas 1.04% 3.02% 5.02% 4.75% 4.29% -0.71% 5.00% Total 0.94% 0.95% 0.97% 1.03% 1.20% 0.20% 0.99% Domestics 0.91% 0.90% 0.88% 0.95% 1.14% 0.22% 0.91% Overseas 1.05% 3.11% 5.21% 4.94% 4.45% -0.75% 5.21% Total 0.92% 0.96% 1.00% 1.05% 1.21% 0.18% 1.02% Domestics 0.96% 0.93% 0.92% 0.99% 1.18% 0.24% 0.94% Overseas 0.98% 2.23% 3.17% 2.80% 2.87% -0.07% 2.94% Total 0.96% 0.94% 0.93% 0.99% 1.18% 0.23% 0.94% J+A Joyo Ashikaga （３）Loans Term-end Balance （￥ｂｎ） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY Sep-24 Individual 5,045.4 5,136.7 5,214.3 5,321.2 5,376.9 +113.3 5,263.5 Corporate 5,347.4 5,694.8 6,099.4 6,620.8 6,795.8 +470.2 6,325.5 Public 915.9 988.5 1,029.6 1,077.1 1,008.2 +59.5 948.7 Total 11,308.8 11,820.1 12,343.4 13,019.3 13,181.0 +643.2 12,537.7 Individual 2,740.2 2,786.4 2,823.7 2,895.9 2,932.0 +74.8 2,857.2 Corporate 3,091.3 3,313.1 3,566.2 3,885.3 3,971.0 +289.8 3,681.1 Public 498.1 548.8 591.5 611.7 654.4 +46.1 608.3 Total 6,329.7 6,648.4 6,981.6 7,393.0 7,557.6 +410.8 7,146.7 Individual 2,305.1 2,350.3 2,390.5 2,425.2 2,444.8 +38.5 2,406.2 Corporate 2,256.0 2,381.6 2,533.2 2,735.5 2,824.7 +180.4 2,644.3 Public 417.8 439.6 438.0 465.4 353.8 +13.4 340.3 Total 4,979.0 5,171.6 5,361.8 5,626.2 5,623.4 +232.4 5,390.9 ＊Not including loans to special account of MoF Foreign Currency Denominated Loans （￥ｂｎ） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY Sep-24 J+A 150.6 151.0 153.4 132.4 129.7 +1.8 127.9 Joyo 139.5 140.4 145.7 125.6 122.2 +1.5 120.7 Ashikaga 11.0 10.5 7.6 6.8 7.4 +0.2 7.1 J+A Joyo Ashikaga 完成
Page 76
44 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 3 Breakdown of Banking Subsidiaries （4）Loans Individual Housing Related Loans Term-end Balance （￥ｂｎ） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY Sep-24 Housing Loans 3,860.8 3,972.9 4,049.4 4,148.7 4,197.7 +100.4 4,097.3 Apartment Loans 871.2 845.2 823.4 805.0 799.6 -13.4 813.0 Asset building loans 2.4 1.9 1.6 1.2 1.1 -0.2 1.3 Total 4,734.5 4,820.2 4,874.5 4,955.1 4,998.5 +86.8 4,911.7 Housing Loans 1,889.9 1,955.2 2,001.6 2,082.6 2,121.5 +79.4 2,042.0 Apartment Loans 694.2 672.8 653.3 633.4 626.8 -14.9 641.7 Asset building loans 2.4 1.9 1.6 1.2 1.1 -0.2 1.3 Total 2,586.5 2,630.0 2,656.6 2,717.3 2,749.5 +64.2 2,685.2 Housing Loans 1,970.9 2,017.6 2,047.8 2,066.1 2,076.2 +21.0 2,055.2 Apartment Loans 177.0 172.4 170.1 171.6 172.7 +1.5 171.2 Asset building loans - - - - - - - Total 2,147.9 2,190.1 2,217.9 2,237.7 2,249.0 +22.5 2,226.4 J+A Joyo Ashikaga （7）Loans Corporate Term-end Balance by Area （￥ｂｎ） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY Sep-24 Tokyo 2,009.4 2,235.5 2,507.5 2,799.9 2,899.6 +269.5 2,630.1 Local 3,337.9 3,459.3 3,591.9 3,820.8 3,896.1 +200.7 3,695.3 Total 5,347.4 5,694.8 6,099.4 6,620.8 6,795.8 +470.2 6,325.5 Tokyo 1,468.9 1,603.1 1,760.2 1,924.7 1,960.3 +155.8 1,804.4 Local 1,622.4 1,709.9 1,806.0 1,960.5 2,010.7 +134.0 1,876.7 Total 3,091.3 3,313.1 3,566.2 3,885.3 3,971.0 +289.8 3,681.1 Tokyo 540.5 632.3 747.2 875.2 939.3 +113.6 825.7 Local 1,715.5 1,749.3 1,785.9 1,860.3 1,885.3 +66.7 1,818.6 Total 2,256.0 2,381.6 2,533.2 2,735.5 2,824.7 +180.4 2,644.3 J+A Joyo Ashikaga （6）Loans Corporate Term-end Balance by Company Size （￥ｂｎ） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY Sep-24 Large 1,674.3 1,890.4 2,140.5 2,447.5 2,545.9 +244.2 2,301.7 Medium/SMEs 3,673.0 3,804.4 3,958.9 4,173.2 4,249.8 +226.0 4,023.8 Total 5,347.4 5,694.8 6,099.4 6,620.8 6,795.8 +470.2 6,325.5 Large 1,206.9 1,338.7 1,475.8 1,675.9 1,704.5 +139.5 1,565.0 Medium/SMEs 1,884.3 1,974.3 2,090.4 2,209.3 2,266.4 +150.3 2,116.1 Total 3,091.3 3,313.1 3,566.2 3,885.3 3,971.0 +289.8 3,681.1 Large 467.3 551.6 664.7 771.6 841.3 +104.7 736.6 Medium/SMEs 1,788.7 1,830.0 1,868.5 1,963.9 1,983.3 +75.6 1,907.6 Total 2,256.0 2,381.6 2,533.2 2,735.5 2,824.7 +180.4 2,644.3 J+A Joyo Ashikaga （5）Unsecured Loans Term-end Balance （￥ｂｎ） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY Sep-24 Car Loans 71.4 79.0 95.7 113.6 120.2 +15.8 104.4 Educational Loans 45.4 49.3 55.8 62.2 64.8 +6.4 58.3 Free Loans 9.3 9.7 10.8 10.9 11.1 +0.2 10.9 Card Loans 62.4 66.0 70.1 75.4 79.0 +6.2 72.7 Total 188.6 204.2 232.5 262.3 275.2 +28.7 246.4 Car Loans 50.6 53.2 59.4 67.4 70.5 +7.5 63.0 Educational Loans 35.5 38.1 41.9 45.5 47.1 +3.7 43.3 Free Loans 3.8 4.1 4.3 4.2 4.1 -0.1 4.3 Card Loans 24.8 26.7 28.4 30.8 32.7 +3.2 29.5 Total 114.8 122.2 134.2 148.1 154.6 +14.3 140.2 Car Loans 20.8 25.8 36.2 46.2 49.6 +8.2 41.4 Educational Loans 9.9 11.2 13.9 16.7 17.6 +2.6 14.9 Free Loans 5.5 5.6 6.4 6.7 6.9 +0.3 6.5 Card Loans 37.5 39.2 41.6 44.5 46.2 +3.0 43.2 Total 73.8 82.0 98.3 114.2 120.5 +14.3 106.2 J+A Joyo Ashikaga 完成
Page 77
45 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 3 Breakdown of Banking Subsidiaries （８）Deposits Term-end Balance *1(Yen-denominated + Foreign currency denominated) （￥bn） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY Sep-24 Individual 11,787.3 12,035.1 12,222.5 12,272.1 12,270.2 +36.6 12,233.6 Corporate 4,049.1 4,085.0 4,235.7 4,306.3 4,360.3 -18.1 4,378.4 Public 1,380.6 1,455.2 1,414.6 1,420.8 1,183.0 +27.7 1,155.3 Total 17,217.1 17,575.4 17,872.9 17,999.2 17,813.6 +46.2 17,767.3 Individual 7,272.7 7,412.6 7,514.1 7,523.9 7,527.6 +17.1 7,510.5 Corporate 2,237.4 2,263.0 2,380.4 2,396.7 2,394.9 -43.7 2,438.7 Public 713.9 778.3 757.0 758.6 752.6 +67.5 685.0 Total 10,224.0 10,454.0 10,651.7 10,679.3 10,675.2 +40.9 10,634.3 Individual 4,514.5 4,622.5 4,708.3 4,745.1 4,742.5 +19.5 4,723.0 Corporate 1,811.7 1,821.9 1,855.2 1,912.5 1,965.3 +25.6 1,939.7 Public 666.7 676.9 657.5 662.2 430.4 -39.8 470.2 Total 6,993.0 7,121.4 7,221.2 7,319.9 7,138.3 +5.2 7,133.0 Foreign Currency Deposit （￥bn） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY Sep-24 J+A 168.2 96.5 102.4 98.8 100.9 +13.4 87.5 Joyo 139.6 76.1 85.5 78.7 83.7 +11.8 71.8 Ashikaga 28.5 20.3 16.8 20.1 17.2 +1.5 15.6 *1 Including NCD. J+A Joyo Ashikaga （9）Customer Assets under Custody Balance （￥ｂｎ） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY Sep-24 Investment trusts 632.5 654.0 822.5 878.8 997.2 +136.5 860.6 Insurance 858.5 884.0 927.6 918.2 955.3 +61.4 893.9 Foreign currency deposits 131.1 91.1 101.7 98.9 101.0 +13.0 87.9 JGB etc. 154.5 131.7 147.6 196.1 218.3 +38.1 180.1 Mebuki Securities 429.5 414.2 409.9 419.2 447.2 +19.9 427.2 Total 2,206.3 2,175.1 2,409.5 2,511.5 2,719.1 +269.2 2,449.9 Investment trusts 302.6 318.7 391.2 409.3 462.2 +59.2 403.0 Insurance 511.5 519.7 527.7 512.1 537.3 +36.0 501.2 Foreign currency deposits 102.6 70.7 84.8 78.8 83.8 +11.5 72.3 JGB etc. 102.7 88.4 101.6 145.1 162.2 +31.1 131.0 Total 1,019.4 997.7 1,105.5 1,145.4 1,245.6 +138.0 1,107.6 Investment trusts 329.8 335.2 431.3 469.5 534.9 +77.3 457.6 Insurance 347.0 364.3 399.8 406.1 418.0 +25.4 392.6 Foreign currency deposits 28.5 20.3 16.8 20.1 17.2 +1.5 15.6 JGB etc. 51.7 43.2 45.9 50.9 56.1 +7.0 49.0 Total 757.3 763.1 894.0 946.7 1,026.2 +111.2 914.9 Group total Joyo Ashikaga 完成
Page 78
46 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 3 Breakdown of Banking Subsidiaries （１1）Fees from Corporate Customers （￥ｂｎ） FY21 FY22 FY23 FY24 1H25 YoY 1H24 Credit Related(*1) 8.15 10.87 10.81 11.83 5.90 -0.04 5.94 Consulting Related 3.29 3.72 4.26 4.55 2.66 +0.56 2.09 total 11.44 14.59 15.08 16.39 8.56 +0.52 8.04 Credit Related(*1) 4.71 6.70 6.28 6.42 3.08 -0.01 3.10 Consulting Related 2.14 2.02 2.31 2.68 1.57 +0.34 1.23 total 6.86 8.73 8.59 9.10 4.65 +0.32 4.33 Credit Related(*1) 3.43 4.17 4.53 5.40 2.82 -0.02 2.84 Consulting Related 1.14 1.69 1.94 1.87 1.08 +0.22 0.86 total 4.57 5.86 6.48 7.28 3.90 +0.20 3.70 ＊１：Inclding derivatives CVA J+A Joyo Ashikaga （１0）Customer Assets under Custody Commissions （￥ｂｎ） FY21 FY22 FY23 FY24 1H25 YoY 1H24 Investment trusts(*1) 7.93 6.52 7.75 8.58 3.64 -0.71 4.35 Insurance(*2) 3.25 5.59 4.26 3.10 1.61 -0.02 1.63 Foreign currency deposits 0.61 0.68 0.39 0.20 0.13 +0.01 0.11 JGB etc. 0.01 0.04 0.09 0.06 0.06 -0.00 0.07 Financial instrument intermediary service 1.19 0.57 0.66 0.71 0.41 +0.06 0.34 Mebuki Securities 3.87 1.98 2.15 2.37 1.25 +0.08 1.16 Total 16.90 15.41 15.32 15.04 7.10 -0.58 7.69 Investment trusts(*1) 4.10 3.32 3.69 4.18 1.53 -0.70 2.24 Insurance(*2) 2.00 3.53 2.22 1.85 0.98 -0.00 0.99 Foreign currency deposits 0.39 0.39 0.26 0.15 0.10 +0.01 0.09 JGB etc. 0.01 0.02 0.07 0.04 0.05 -0.00 0.06 Financial instrument intermediary service 0.89 0.46 0.61 0.66 0.39 +0.07 0.32 Total 7.41 7.74 6.86 6.91 3.07 -0.64 3.71 Investment trusts(*1) 3.83 3.20 4.06 4.39 2.10 -0.00 2.10 Insurance(*2) 1.25 2.06 2.04 1.25 0.62 -0.01 0.63 Foreign currency deposits 0.22 0.28 0.13 0.04 0.02 +0.00 0.02 JGB etc. 0.00 0.01 0.02 0.02 0.00 +0.00 0.00 Financial instrument intermediary service 0.29 0.10 0.04 0.04 0.01 -0.00 0.02 Total 5.61 5.68 6.30 5.76 2.77 -0.02 2.80 ＊１：Sales commission+ Trust fee ＊２：Excl. executive life insurance Group Total Joyo Ashikaga （12）Securities Balance(Balance Sheet Amount) （￥ｂｎ） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY Domestic bonds 2,745.1 2,205.9 2,363.8 2,512.4 2,462.1 -50.2 Foreign bonds 967.3 622.8 836.0 797.5 818.5 +20.9 Stocks 254.1 211.3 278.7 243.8 257.6 +13.7 Investment trusts,etc. 715.5 622.2 654.8 659.3 643.2 -16.1 Total 4,682.3 3,662.3 4,133.5 4,213.2 4,181.5 -31.6 Domestic bonds 2,002.5 1,438.8 1,588.8 1,561.4 1,524.7 -36.7 Foreign bonds 597.9 319.1 455.7 462.0 490.9 +28.8 Stocks 226.8 183.8 243.4 215.8 225.6 +9.7 Investment trusts,etc. 439.9 401.3 418.7 435.6 421.4 -14.1 Total 3,267.3 2,343.1 2,706.8 2,675.0 2,662.7 -12.2 Domestic bonds 734.1 758.0 766.5 941.9 926.5 -15.3 Foreign bonds 369.3 303.7 380.3 335.5 327.6 -7.9 Stocks 33.6 34.4 41.1 34.3 38.2 +3.9 Investment trusts,etc. 271.5 216.5 231.8 219.3 217.4 -1.8 Total 1,408.8 1,312.7 1,419.7 1,531.1 1,509.9 -21.1 Mebuki FG (Consolid ated) Joyo Ashikaga 完成
Page 79
47 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 3 （2） Breakdown of Banking Subsidiaries （13）Securities Unrealized Valuation Gains/Losses on Available for Sale Securities （￥bｎ） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY Stocks -21.3 -34.4 -33.3 -103.5 -128.6 -25.1 Domestic bonds -14.2 -13.9 -14.6 -8.3 -2.8 +5.5 Investment trusts,etc. 131.5 101.7 151.9 113.6 140.1 +26.4 Foreign bonds 32.9 -28.4 4.6 8.8 59.8 +50.9 Total 128.9 24.9 108.6 10.6 68.5 +57.8 Stocks -16.3 -19.2 -19.5 -52.2 -61.2 -9.0 Domestic bonds -12.8 -5.7 -5.5 -5.1 -3.1 +1.9 Investment trusts,etc. 123.6 91.5 133.7 101.6 123.3 +21.7 Foreign bonds 27.4 -15.2 3.5 1.0 30.6 +29.5 Total 122.0 51.2 112.2 45.3 89.4 +44.1 Stocks 1.9 -10.1 -10.3 -48.8 -65.1 -16.3 Domestic bonds -0.1 -8.0 -9.0 -3.1 0.3 +3.5 Investment trusts,etc. 21.0 22.1 29.9 23.4 27.7 +4.3 Foreign bonds 6.7 -11.8 2.4 9.1 30.5 +21.3 Total 29.7 -7.8 12.9 -19.3 -6.4 +12.8 Mebuki FG (Consolida ted) Joyo Ashikaga (１5) Foreign Bonds ($million, €million ,million of Australia dollars, ￥bn) Currency Interest rate type Securities type FYE23 FYE24 Sep-25 YoY 1H25 gains/ losses Government, Government-guaranteed bonds, etc 1,528 1,735 1,738 +3 Corporate bonds, etc 1,910 1,325 1,348 +23 Floating CLO/Government-guaranteed bonds, etc 1,982 2,181 2,300 +119 5,422 5,241 5,387 +145 Euro Fixed Government, Government-guaranteed bonds, etc 0 0 0 ±0 － AUD Fixed Corporate bonds, etc 30 0 0 ±0 － Yen(*1) Fixed Corporate bonds, etc 26.7 22.1 19.3 -2.8 － Government, Government-guaranteed bonds, etc 1,071 1,286 1,287 +1 Corporate bonds, etc 239 313 333 +20 Floating CLO/Government-guaranteed bonds, etc 1,544 1,377 1,567 +190 2,856 2,976 3,189 +212 Euro Fixed Government, Government-guaranteed bonds, etc 0 0 0 ±0 － AUD Fixed Corporate bonds, etc 30 0 0 ±0 － Yen(*1) Fixed Corporate bonds, etc 25.8 22.1 19.3 -2.8 － Government, Government-guaranteed bonds, etc 456 449 450 +1 Corporate bonds, etc 1,671 1,012 1,015 +2 Floating CLO/Government-guaranteed bonds, etc 437 804 732 -71 2,565 2,265 2,198 -67 Euro Fixed Government, Government-guaranteed bonds, etc 0 0 0 ±0 － AUD Fixed Corporate bonds, etc 0 0 0 ±0 － Yen(*1) Fixed Corporate bonds, etc 0.9 0.0 0.0 ±0.0 － (*1)All Yen denominated foreign bonds are regarded as fixed bonds. Ashikaga U.S. dollar Fixed － Sub Total Total U.S. dollar Fixed +0 Sub Total Joyo U.S. dollar Fixed +0 Sub Total （14）Gains/Losses on Securities （￥bｎ） FY21 FY22 FY23 FY24 1H25 YoY 1H24 Stocks -7.1 -87.3 -39.2 -40.4 -20.0 -15.2 -4.7 Domestic bonds 3.5 45.0 18.7 22.7 13.6 +12.1 1.5 Investment trusts,etc. 1.7 7.1 5.2 3.6 1.8 -0.5 2.4 Total -1.8 -35.1 -15.2 -14.0 -4.5 -3.6 -0.8 Stocks -4.8 -72.6 -27.9 -26.3 -16.4 -14.0 -2.4 Domestic bonds 3.5 43.9 16.9 18.8 10.9 +10.1 0.8 Investment trusts,etc. 1.7 5.0 4.2 2.3 1.2 -0.3 1.6 Total 0.4 -23.6 -6.7 -5.1 -4.1 -4.1 0.0 Stocks -2.2 -14.7 -11.2 -14.1 -3.6 -1.2 -2.3 Domestic bonds 0.0 1.1 1.7 3.9 2.6 +2.0 0.6 Investment trusts,etc. 0.0 2.1 1.0 1.2 0.5 -0.2 0.8 Total -2.3 -11.4 -8.4 -8.9 -0.3 +0.5 -0.8 J+A Joyo Ashikaga 【備忘】 3Qでは 「+0」の2ヶ所と 「-」のセルの 書式設定を修正す る。 完成
Page 80
48 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Mebuki Financial Group, Inc. All Rights Reserved. ｜ 3 Breakdown of Banking Subsidiaries （16）Strategic shareholdings (Balance) （￥ｂｎ） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY J+A Balance 225.2 184.8 205.3 172.7 192.8 20.0 Joyo Balance 191.9 150.9 164.6 139.1 155.0 15.8 Ashikaga Balance 33.3 33.9 40.6 33.6 37.8 4.2 (17) Expenses （￥ｂｎ） FY21 FY22 FY23 FY24 1H25 YoY 1H24 Personnel 58.2 57.2 57.0 58.7 31.3 +2.2 29.1 Non-Personnel 43.4 40.0 41.7 44.0 21.9 +0.7 21.1 Taxes 6.5 6.0 6.4 6.5 4.0 +0.4 3.5 Total 108.1 103.3 105.2 109.3 57.3 +3.4 53.8 Personnel 32.7 32.2 32.1 32.6 17.4 +1.1 16.2 Non-Personnel 24.1 22.0 22.7 24.9 12.5 +0.8 11.6 Taxes 3.6 3.3 3.7 3.7 2.3 +0.2 2.0 Total 60.5 57.6 58.5 61.3 32.3 +2.2 30.0 Personnel 25.4 24.9 24.8 26.0 13.9 +1.1 12.8 Non-Personnel 19.2 18.0 19.0 19.1 9.3 -0.0 9.4 Taxes 2.9 2.6 2.7 2.7 1.7 +0.2 1.5 Total 47.6 45.6 46.6 47.9 25.0 +1.2 23.7 J+A Joyo Ashikaga （18）Credit related cost （￥ｂｎ） FY21 FY22 FY23 FY24 1H25 YoY 1H24 J+A 19.6 9.1 3.4 5.9 3.7 +0.7 2.9 Joyo 9.8 5.0 0.6 2.9 1.5 +0.0 1.4 Ashikaga 9.7 4.0 2.8 2.9 2.2 +0.7 1.4 （20）Non-accrual delinquent loans（to Business）(1 month or more) （￥ｂｎ） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY Sep-24 J+A 1.3 1.0 2.1 0.9 1.3 +0.0 1.3 Joyo 0.8 0.7 1.6 0.8 1.1 +0.0 1.1 Ashikaga 0.5 0.2 0.4 0.1 0.2 -0.0 0.2 （19）Disclosed Claims under the Financial Revitalization Law （￥ｂｎ） FYE21 FYE22 FYE23 FYE24 Sep-25 YoY Bankrupt claims 13.8 12.5 14.6 13.4 13.5 +0.1 Doubtful claims 151.1 153.0 151.4 137.9 136.8 -1.1 Claims requiring monitoring 27.6 31.5 29.1 27.5 23.2 -4.3 (Loans past due 3 month or more) 0.0 0.2 0.1 0.1 0.0 -0.0 (Restructured loans) 27.5 31.3 28.9 27.3 23.1 -4.2 Total 192.6 197.1 195.2 178.9 173.6 -5.2 Bankrupt claims 5.4 5.1 4.9 5.7 5.4 -0.2 Doubtful claims 86.5 84.8 82.6 71.3 71.2 -0.1 Claims requiring monitoring 13.3 12.1 9.7 8.3 5.6 -2.7 (Loans past due 3 month or more) 0.0 0.0 0.0 0.1 0.0 -0.0 (Restructured loans) 13.2 12.0 9.6 8.2 5.6 -2.6 Total 105.2 102.1 97.3 85.5 82.3 -3.1 Bankrupt claims 7.7 6.7 9.2 6.8 7.4 +0.6 Doubtful claims 64.6 68.1 68.7 66.5 65.6 -0.9 Claims requiring monitoring 14.2 19.4 19.3 19.1 17.5 -1.5 (Loans past due 3 month or more) 0.0 0.1 0.0 0.0 0.0 -0.0 (Restructured loans) 14.2 19.2 19.3 19.0 17.5 -1.5 Total 86.7 94.2 97.3 92.5 90.6 -1.9 J+A Joyo Ashikaga 完成
Page 81
49 R157 G200 B21 R82 G117 B134 R123 G169 B192 R207 G229 B241 ブランドカラー サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 サポートカラー R159 G160 B160 R231 G34 B61 R236 G102 B53 R248 G182 B55 R67 G127 B81 R73 G132 B197 R151 G102 B168 R211 G169 B119 Copyright © 2025 Menuki Financial Group, Inc. All Rights Reserved. ｜ Mebuki Financial Group, Inc. Corporate Planning Department TEL +81-29-233-1151 E-mail ir@mebuki-fg.co.jp URL https://www.mebuki-fg.co.jp/ Inquiries This document has been prepared for information purposes only and does not form part of a solicitation to sell or purchase any securities. Information contained herein may be changed or revised without prior notice. This document may contain forward-looking statements as to future results of operations. No forward-looking statement can be guaranteed and actual results of operations may differ from those projected. 完成