Resona (8308) Q1 2026 earnings summary

Executive summary

• Net income attributable to owners rose to JPY70.5 bn, up 27.3% year-over-year, driven by higher net interest income and improved credit costs.

• Core net operating profit reached JPY79.2 bn, up 20.9% year-over-year.

• Gross operating profit increased by 11.0% year-over-year to JPY194.2 bn.

• Ordinary income rose 19.6% year-over-year to JPY300.1 bn; comprehensive income surged to JPY110.9 bn.

• Operating expenses rose 2.8% year-over-year to JPY114.2 bn, reflecting ongoing investments in IT and human capital.

Financial highlights

• Net interest income from domestic loans and deposits grew by JPY8.1 bn year-over-year.

• Net income per share was JPY30.77, up from JPY23.83 year-over-year.

• ROE improved to 11.96%, up 2.0 percentage points year-over-year.

• Loans and bills discounted rose by JPY395.4 bn to JPY44.93 tn; deposits decreased by JPY730.5 bn to JPY62.69 tn since March.

• Cost income ratio (OHR) improved to 58.7%, down 4.6 percentage points year-over-year.

Outlook and guidance

• Full-year net income target is JPY240.0 bn, with a projected dividend per share of 29.0 yen.

• Core net operating profit is targeted at JPY335.0 bn for the full year.

• EPS guidance for the full year is JPY105.03.

• Fee income progress rate is 25.1% against the full-year plan of JPY230.0 bn.

• The rise in housing loan base rates is expected to take full effect from the second quarter.