Resona (8308) Q2 2026 earnings summary

Executive summary

• Net income attributable to owners of parent reached JPY142.9 bn, up 25.1% year-over-year, achieving 59.5% of the full-year target.

• Ordinary income rose 16.2% year-over-year to JPY620.8 bn for 1H FY2025.

• Core net operating profit (excluding net gains on cancellation of investment trusts) was JPY171.8 bn, up 31.9% year-over-year.

• Comprehensive income surged 243.2% year-over-year to JPY212.6 bn.

• Key drivers included policy rate hike effects, proactive balance sheet management, and cost control.

Financial highlights

• Gross operating profit rose to JPY401.6 bn, a 16.3% increase year-over-year.

• Net interest income from domestic loans and deposits increased by JPY24.0 bn year-over-year to JPY195.4 bn.

• Ordinary profits increased 23.6% year-over-year to JPY199.7 bn.

• Net assets increased to JPY2.90 tn from JPY2.75 tn at the previous fiscal year-end.

• Dividend per share for FY2025 is forecast at JPY29.00, up from JPY25.00 in FY2024.

Outlook and guidance

• FY2025 net income target is JPY240 bn, a 12.5% increase year-over-year.

• Progress rates against full-year targets: net income 59.5%, core net operating profit 51.3%, fee income 47.8%.

• ROE (TSE standard) improved to 10.2%, up 1.9% year-over-year.

• No revision to previously announced earnings or dividend forecasts.

• Management expects continued benefit from higher policy rates and ongoing cost control.