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Credit Saison sees YOY decline in FY'17 profit

Credit Saison Co. Ltd. expects to report a year-over-year decline in net profit for the fiscal year ending March 31, 2018.

The company said May 12 that net profit attributable to owners of its parent is expected to drop 5.3% on a yearly basis to ¥40 billion, or ¥244.90 per share. For the year ended March 31, the company reported net profit of ¥42.25 billion, or ¥255.28 per share.

Ordinary profit is expected to increase to ¥57.00 billion from ¥53.07 billion, while operating profit is expected to rise to ¥44.00 billion from ¥31.21 billion. The company expects operating revenue for the fiscal year to clock in at ¥292.00 billion, compared with ¥278.94 billion as of March 31.

As of May 12, US$1 was equivalent to ¥113.22.