Initiatives to Improve Corporate Value
Securities Portfolio
Securities portfolio *1
2021/3
2022/3
2023/3
(JPY bn)
(a)
(b)
(c)
Unrealized
gains/(losses)
(d)
Available-for-sale
(1)
4,480.7
4,159.5
3,886.8
472.9
securities
Stocks
(2)
325.2
305.9
283.8
578.0
Bonds
(3)
2,586.4
2,940.1
2,400.2
(57.5)
JGBs
(4)
925.7
1,137.3
645.3
(39.4)
Average duration
(5)
13.1
9.3
12.8
(years)
Basis point value
(6)
(1.21)
(1.15)
(0.78)
(BPV)
Local government and
(7)
1,660.6
1,802.8
1,754.9
(18.0)
corporate bonds
Other
(8)
1,569.0
913.3
1,202.6
Foreign bonds
(9)
904.8
562.5
721.5
(47.5)
(34.2)
Average duration
(10)
6.3
6.2
5.8
(years)
Total of
Group Banks
Status of policy-oriented stocks held*2
Balance of listed stocks disposed in FY2022
(acquisition cost basis): JPY22.0 bn,
Net gain on sale: JPY50.4 bn (HD consolidated: JPY50.0 bn)
Breakeven Nikkei average: Approx. 7,800 yen
■ Policy for holding policy-oriented stocks
• Since the capital enhancement with public funds, Resona Group has
reduced the balance of the policy-oriented stocks to lessen the risk of
price volatility. Our basic policy is to continue to reduce the balance of
policy-oriented stocks.
• The Group determines whether to hold policy-oriented stocks by
evaluating the risks and returns, including feasibility of the
development of a trading relationship in a medium- to long-term. The
Group may also sell stocks in consideration of the market situations,
management and financial strategies, even though the Group
considers appropriate for holding from the risk-return perspective.
Plan to reduce JPY80.0 bn level in 4 years from Apr. '22
⇒27.5% progress against plan in the first year
Basis point value
(11)
(0.51)
(0.26)
(0.30)
(BPV)
Investment trusts
[Stock holdings]
(JPY bn)
(12)
658.4
346.8
474.1
(16.0)
(Domestic)
1,397.0
Net unrealized gain
(13)
615.3
521.2
472.9
Approx.
JPY(1) tn
(75)%
3 banks(RB, SR, KO)
After KMFG integration
Bonds held to
(14)
1,942.2
2,934.7
3,899.0
(95.5)
maturity
JGBs
(15)
1,035.6
1,856.1
2,278.2
(77.5)
Net unrealized gain
(16)
11.5
(30.3)
(95.5)
CLO: Zero
397.8
325.2
305.9
283.8
2003/3
4
4
2005/3
2021/3
2022/3
2023/3
(Reference) Market value : 980.8
892.3
861.9
*1. Acquisition cost basis. The presented figures include marketable securities only
*2. Policy-oriented stocks are classified into (i) policy investment stocks and (ii) strategic investment stocks, according to the purpose of holding.
Of these, (i) policy investment stocks are targeted for reduction of the balance.
All listed shares held by group banks are (i) policy investment stocks
(30.3)
Resona Holdings, Inc.
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