Japan-based Seven Bank Ltd. lowered its net profit guidance for the fiscal year ending March 31 even as it raised its dividend forecast for the period.
The company lowered its guidance for net income attributable to the parent to ¥25.30 billion, or ¥21.24 per share, from the previous forecast of ¥26.40 billion, or ¥22.15 per share.
The bank said Feb. 2 that it now expects ordinary profit to come in at ¥37.40 billion, while ordinary income is expected at ¥126.70 billion.
The company raised its year-end dividend forecast to ¥5.25 per share, up from the previous guidance of ¥4.75 per share. The annual dividend is now expected at ¥10 per share, compared to the previous forecast of ¥9.50 per share.
As of Feb. 2, US$1 was equivalent to ¥110.39.
