Bank of Nagoya narrows losses as net income beats forecast for fiscal year ended March 2026 on higher fund profits
Bank of Nagoya <8522> narrowed its losses following a 2:00 p.m. announcement that consolidated net income for the fiscal year ending March 2026 is expected to reach 20,200 million yen, up 37.1% year-on-year, exceeding the previous forecast of 19,400 million yen. Buying interest, driven by the positive surprise, supported the stock at lower levels.
The company attributed the upward revision to non-consolidated fund profits exceeding expectations due to higher interest and dividend income from securities. In conjunction with the earnings upgrade, the bank raised its year-end dividend forecast to 120 yen from 50 yen.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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