INTERIMFINANCIALREPORTApril-September1999CorporateDataYearsEndedMarch31,1999and1998HeadOffice3-1,KudanMinami1-chome,Chiyoda-ku,Tokyo100-8611,JapanTel:+81332303111Telex:J22378MITKBKHibiyaHeadquarters1-2,Yurakucho1-chome,Chiyoda-ku,Tokyo100-0006,JapanTel:+81335011111Telex:J22378MITKBKKansaiHeadquarters56,Naniwa-machi,Chuo-ku,Kobe650-8660,JapanTel:+81783318101Telex:J78823MITKBKContentsConsolidatedFinancialHighlights1Non-ConsolidatedFinancialHighlights1PreparingforRenewedGrowthintheNewMillennium2PlantowardSoundnessofManagement4BusinessStrategies5FinancialSection9OverseasOffices32Directors,ExecutiveOfficersandAuditors33StockInformation33InvestorRelationsDepartmentPlanningDivisionTel:+81332303111http://www.sakura.co.jp/bank/NetworkTotalDomesticOffices436Branches388Subbranches42Agencies6TotalOverseasOffices72Branches18Subbranches2Representativeoffices6Subsidiaries20Subsidiaries’branches13Affiliatesandassociates13(AsofDecember31,1999)NumberofEmployees15,885(AsofSeptember30,1999)1MillionsofMillionsofYenU.S.DollarsSixMonthsEndedSeptember3019991999FortheSixMonthsTotalIncome¥918,153$8,584TotalExpenses841,5787,868InterimIncomebeforeIncomeTaxes76,574715InterimNetIncome40,803381AtTermEndTotalAssets48,825,915456,530LoansandBillsDiscounted32,592,302304,743Securities6,612,66661,829Deposits34,301,313320,722Stockholders’Equity2,202,55020,594CapitalRatio(%)12.43%12.43%YenU.S.DollarsPerShareofCommonStockInterimNetIncome¥(8.63$0.08Stockholders’Equity338.303.16Non-ConsolidatedFinancialHighlightsTheSakuraBank,LimitedMillionsofMillionsofYenU.S.DollarsChangeSixMonthsEndedSeptember301999199819991999/1998FortheSixMonthsTotalIncome¥817,025¥1,054,841$7,639¥(237,816)TotalExpenses762,7331,008,6627,131(245,929)InterimIncomebeforeIncomeTaxes54,29146,1785078,112InterimNetIncome33,07032,234309836AtTermEndTotalAssets47,141,47951,221,593440,780(4,080,114)LoansandBillsDiscounted32,143,36434,876,084300,545(2,732,720)Securities6,576,8416,662,65461,494(85,813)Deposits34,005,76733,469,583317,959536,185Stockholders’Equity2,244,0151,314,22020,981929,795CapitalRatio(%)12.42%—%12.42%—%YenU.S.DollarsChangePerShareofCommonStockInterimNetIncome¥(6.74)¥(8.55)$0.06¥(1.81)Stockholders’Equity348.18336.693.2611.49CashDividendsperShareCommonStock3.004.250.02(1.25)PreferredStock:SeriesII7.507.500.07—SeriesIII(Type-2)6.85—0.066.85Notes:1.Allconsolidatedfiguresandnon-consolidatedfigureshavebeentruncatedratherthanrounded.2.Theaccompanyingfinancialstatementsarepresented,forconvenienceonly,inU.S.dollarsbyarithmeticallytranslatingallJapaneseyenamountsat¥106.95=US$1,theexchangerateineffectonSeptember30,1999.ConsolidatedFinancialHighlightsTheSakuraBank,LimitedandSubsidiaries2PreparingforRenewedGrowthintheNewMillenniumInthefirsthalfofthefiscalyear,SakuraBanksowedtheseedsofnewandongoingstrategiesthatwillpositionitforrenewedgrowthinthe21stcentury.ThelongdownwardspiraloftheJapaneseeconomywasputtoahalt—thankstoprogressachievedinadjustinginventoriesandgovernmentbudgetaryinitiativesandsupportforthefinancialsector.Themomentumtowardarallywasaccompa-niedbytheimprovedexpectationsofcorporateandindividualmarketobservers.However,thecontinueddeclineincapitalspendingindicatedthatthepathtoadomesticdemand-ledrecoveryintheprivatesectorisfarfromassuredandwillcontinuetodependuponcomprehensivegovernmentsupport.Inthefinancialsector,variou...
