Announcement Regarding the Revision of Earnings Targets for the Fiscal Year 2019 of Resona Holdings, Inc. and its Consolidated Subsidiary, Kansai Mirai Financial Group, Inc.
April 30, 2020
Resona Holdings, Inc.
Resona Holdings, Inc. (Resona Holdings, hereafter) hereby announces that it revised its earnings targets for the fiscal year 2019 (April 1, 2019 to March 31, 2020) which it announced on Nov. 8, 2019 as detailed below. In addition, it announces that Resona Holdings' consolidated subsidiary, Kansai Mirai Financial Group Inc. (KMFG, hereafter) also revised its consolidated earnings targets for the fiscal year 2019 and term-end dividend forecast as per attached sheets.
There is no change on term-end dividend forecast for Resona Holdings.
1. Revision of the Earnings Targets
Revision of Consolidated Earnings Targets of the Fiscal Year 2019(April 1, 2019 - March 31, 2020)
| Net Income Attributable to Owners of the Parent (Billion Yen) | Net Income per Share of Common Stock (Yen) | |
|---|---|---|
| Previous targets (A) (Announced on Nov. 8, 2019) |
160.0 | 69.68 |
| Revised targets (B) | 152.0 | 66.09 |
| Change (B－A) | (8.0) | - |
| Rate of change (%) | (5.0) | - |
| (Reference) Fiscal Year 2018 |
175.1 | 75.63 |
2. Reason for Revising the Consolidated Earnings Targets
Previous target of net income attributable to owners of the parent is revised downward from such factors that fee income is estimated to be lower than the previous target mainly due to weak asset formation support business and that the turmoil in the financial markets following the rapid spread of COVID-19 has led to lower-than-expected net gains from securities such as stocks.
In addition, consolidated business results of KMFG, which is a consolidated subsidiary of Resona Holdings, turned out to be lower than its previous guidance.
Further details will be announced when Resona Holdings announces its business results.
- *Earnings targets reported herein are based on the data available as of the date on which this material is announced. Please be aware that actual results may differ from the targets due to various factors.