Resona Holdings Inc (TSE:8308)

円 1066.5 18 (1.72%) Market Cap: 2.46 Til Enterprise Value: -12.82 Til PE Ratio: 15.74 PB Ratio: 0.90 GF Score: 51/100

Q2 2023 Resona Holdings Inc Earnings Call Transcript

Nov 16, 2022 / NTS GMT

Release Date Price: 円604.7 (+1.12%)

Transcript

Masahiro Minami

Resona Holdings, Inc. - President, Representative Executive Officer & Director

This is Masahiro Minami, President of Resona Holdings.

Thank you very much for taking time out of your business schedule to join our IR presentation. The IR briefing will be presented again with the online format. Now let's get started with the presentation. Analysts' call was conducted after the earnings announcement, so today, I will focus more on strategy.

Please turn to Page 4. This is a summary of our financial results. Net income attributable to owners of parent was JPY 82.6 billion, up by JPY 1.8 billion year-on-year, marking a 55.1% progress rate against the full year target of JPY 150 billion. Quarter-on-quarter, the pace of progress has picked up from 22.6% in Q1 to 32.5% in Q2.

In May, we explained that we had factored in a certain amount of cost for restoring the soundness of the securities portfolio in our financial targets for the current fiscal year. Now despite posting a loss of approximately JPY 37 billion in the first half as a cost to improve the soundness of the

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