Mebuki Financial Group (7167) Q2 2027 earnings summary

Executive summary

• H1 FY2027 net income attributable to owners rose ¥15.4bn YoY to ¥59.2bn, a post-integration first-half record, supported by wider loan-deposit spreads and securities income.

• Core net business income increased ¥20.6bn YoY to ¥76.7bn; expenses rose ¥3.1bn to ¥60.4bn amid human-capital and strategic investments.

Financial highlights

• Consolidated ordinary income rose 24.2% YoY to ¥262.8bn; ordinary profit rose 44.2% to ¥86.1bn.

• Net income attributable to owners was ¥59.2bn versus ¥43.8bn; basic EPS was ¥63.11 versus ¥46.03.

• Consolidated net interest income increased ¥21.6bn to ¥113.9bn, and net fees and commissions rose ¥1.7bn to ¥27.0bn.

• Bank-total net interest income excluding investment-trust cancellation gains rose ¥22.1bn to ¥112.8bn; securities gains/losses were ¥8.0bn and credit-related costs were ¥4.0bn.

Outlook and guidance

• FY2027 forecasts were raised to ¥163bn ordinary profit and ¥112bn net income attributable to owners; forecast EPS is ¥119.68 and ROE is ~10.0%.

• Annual dividend forecast rose to ¥48 per share, comprising ¥22 interim and ¥26 year-end dividends.

• Bank forecast includes core net business income of ¥154.5bn, credit-related costs of ¥10.0bn and securities gains/losses of ¥9.5bn; assumptions include unchanged Japanese policy rates during FY2027.