Resona Holdings ( (RSNHF) ) has released its Q1 earnings. Here is a breakdown of the information Resona Holdings presented to its investors.
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Resona Holdings, Inc. is a prominent financial services group in Japan, primarily engaged in banking, trust asset management, and other financial services such as credit card administration and leasing. The company operates under the Japanese GAAP and is listed on the Tokyo Stock Exchange.
In the first quarter of fiscal year 2025, Resona Holdings reported significant growth in its financial performance. The company’s ordinary income rose to 300,108 million yen, marking a 19.6% increase from the same period last year. Net income attributable to owners of the parent also saw a substantial rise of 27.3%, reaching 70,530 million yen.
Key financial metrics highlighted in the report include a notable increase in gross operating profit, which grew by 19.3 billion yen to 194.2 billion yen. This growth was driven by higher net interest income from domestic loans and deposits. Additionally, the company’s total net assets increased by 62.6 billion yen, reflecting positive changes in retained earnings and unrealized gains on available-for-sale securities.
Despite a decrease in total assets by 580.1 billion yen from the previous fiscal year-end, Resona Holdings showed resilience with improved credit costs, resulting in a reversal profit of 0.9 billion yen. The company’s strategic focus on enhancing its core net operating profit and maintaining a strong balance sheet is evident in these results.
Looking ahead, Resona Holdings maintains a positive outlook for the remainder of the fiscal year, with management focusing on sustaining growth and navigating economic uncertainties. The company aims to achieve its full-year earnings targets, leveraging its diverse financial services portfolio.