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Suruga Bank Shares Surge on Upgrade to Top Rating by Major Domestic Securities Firm

Fri Apr 10, 2026 2:46 pm JST Catalyst

Suruga Bank Ltd <8358> Surged Sharply, Hitting a New Year-to-Date High. SMBC Nikko Securities Upgraded Suruga Bank’s Investment Rating From “2” to “1” on April 9 in Its Three-Tier System. The Brokerage Also Raised Its Target Price to 2,400 Yen From 1,500 Yen.

The Securities Firm Said Mediation and Settlement Payments Related to Issues With Real Estate Investment Loans Outside the Share House Business Have Been Finalized, Allowing for Potential Reversals of Past Provisions and Tax Expenses. It Added That the Core Business Remains Generally Solid, With the Expected Profit Boost Likely to Support Higher Shareholder Returns.

SMBC Nikko Securities Raised Its Net Income Forecast for Suruga Bank for the Fiscal Year Ending March 2027 to 35.4 Billion Yen From 23.7 Billion Yen.

Source: MINKABU PRESS

*Translated by generative AI. Click here for the original article.

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