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MarketScreener Homepage  >  Equities  >  Tokyo  >  SBI Holdings, Inc.    8473   JP3436120004

SBI HOLDINGS, INC.

(8473)
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Japan's SBI Holdings to take 17.9% stake in Fukushima Bank

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11/10/2019 | 11:24pm EST

Japanese internet banking giant SBI Holdings Inc and Fukushima Bank Ltd will form a capital and strategic tie-up, with SBI taking a 17.91% stake in the regional lender, the companies said on Monday.

Fukushima Bank will issue new shares to SBI for 222 yen each for a total investment of 1.11 billion yen ($10.17 million), making it the biggest shareholder in the lender.

The two financial companies will jointly establish offices where SBI's products such as investment trust and insurance are provided to Fukushima Bank's customers, while the companies will also develop new fintech-focused services, they said.

The future of Japan's regional lenders is a focus for investors after years of negative interest rates and a declining population have sapped profits and raised questions about their ability to survive.

The news sent Fukushima Bank's shares up by their daily limit, or 32.9% higher, earlier in the session. The stock was last up 29.2%, while SBI Holdings fell 0.2%. The broader market <.N225> was little changed.

SBI announced in September it would invest in Shimane Bank Ltd, a regional bank in western Japan.

($1 = 109.2100 yen)

(Reporting by Chang-Ran Kim and Takashi Umekawa; editing by Richard Pullin and Aditya Soni)

Stocks mentioned in the article
ChangeLast1st jan.
SBI HOLDINGS, INC. -0.17% 2393 End-of-day quote.16.00%
THE FUKUSHIMA BANK, LTD. -6.02% 359 End-of-day quote.-7.95%
THE SHIMANE BANK, LTD. -0.55% 723 End-of-day quote.9.88%
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Financials (JPY)
Sales 2020 378 B
EBIT 2020 113 B
Net income 2020 51 894 M
Debt 2020 -
Yield 2020 4,18%
P/E ratio 2020 10,7x
P/E ratio 2021 10,6x
Capi. / Sales2020 1,46x
Capi. / Sales2021 1,45x
Capitalization 552 B
Technical analysis trends SBI HOLDINGS, INC.
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 2 875,00  JPY
Last Close Price 2 393,00  JPY
Spread / Highest target 29,5%
Spread / Average Target 20,1%
Spread / Lowest Target 12,8%
EPS Revisions
Managers
NameTitle
Yoshitaka Kitao Chief Executive Officer & Representative Director
Tomoya Asakura Director & Senior Managing Executive Officer
Shumpei Morita Director & Senior Managing Executive Officer
Masaki Yoshida Director
Takashi Nakagawa Representative Director & Executive Vice President
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