Resona Holdings raised its net profit target for the year to March 2027 to ¥340bn from ¥330bn, a ¥10bn or 3% increase, as first-half profit attributable to owners of the parent reached ¥173.6bn. The company said the interim result was the highest since the holding company was formed.
What the revision rests on
Resona gave three reasons for the increase: solid results through the second quarter, higher net interest income following the Bank of Japan's policy-rate rises, and expected progress in reducing policy-held shares. The presentation says the June rate rise, from 0.75% to 1.00%, was reflected in an earlier ¥20bn upgrade, and that this latest ¥10bn follows the strong first half.
The new target equals EPS of ¥151.91 and is 31.4% above the prior year's profit. Resona states targets, not forecasts, citing external uncertainty across its banking, trust, credit card and leasing businesses. First-half profit equals 52.5% of the earlier ¥330bn target.
First half in numbers
| Measure | Six months to Sept 2026 | Six months to Sept 2025 |
|---|---|---|
| Ordinary revenue | ¥788.1bn | ¥620.8bn |
| Ordinary profit | ¥245.9bn | ¥199.7bn |
| Net profit attributable to owners of the parent | ¥173.6bn | ¥142.9bn |
| Comprehensive income | ¥159.9bn | ¥212.6bn |
Ordinary revenue rose 27.0% and ordinary profit 23.2%. Consolidated interest on loans was ¥353.1bn, up from ¥262.2bn, while deposit interest expense rose to ¥106.5bn from ¥64.1bn. Net interest income was ¥352.0bn, ¥70.2bn above a year earlier.
Gains on shares and similar holdings were ¥54.4bn against ¥33.7bn. Resona said it used gains from selling ETFs and equity funds, about ¥25bn according to its presentation, to reshuffle part of its bond portfolio ahead of further rate rises. That reshuffle carried a cost: bond-related losses including futures were ¥34.2bn.
Where the picture is less tidy
Comprehensive income fell to ¥159.9bn from ¥212.6bn. Other comprehensive income swung to a ¥14.5bn loss from a ¥68.8bn gain, with deferred hedge losses of ¥17.8bn the largest negative item. Credit costs were ¥9.9bn against ¥3.5bn a year earlier.
The consolidated capital ratio on the domestic standard was 12.67%, up 0.13 percentage points from March 2026. The non-performing loan ratio was 1.14%, down 0.05 points from March.
Returns
The interim dividend is ¥18.50 a share against ¥14.50 a year earlier, and the full-year dividend forecast of ¥37.00 is unchanged, against ¥29.00 for the prior year. Treasury shares rose to 74.9mn from 54.3mn at March 2026. The interim dividend is due to be paid from 8 December.
Resona says the revised target could be exceeded but that it will weigh how much room remains for further upgrades. It holds an investor and analyst briefing on 18 November. The interim statement is not subject to audit.