[Sumitomo Mitsui Financial Group, Inc.]Sumitomo Mitsui Financial Group AnnouncesRevision of Earnings Forecasts ofa Consolidated Subsidiary (Kansai Urban Banking Corporation)(1/1)
Sumitomo
Mitsui Financial Group Announces
Revision of Earnings Forecasts of
a Consolidated Subsidiary (Kansai Urban Banking Corporation)
(Appendix)
Kansai Urban Banking Corporation Announces
Revision of Earnings Forecast for Fiscal Year 2006
OSAKA, Japan, November17, 2006---Kansai Urban Banking Corporation (KUBC) announced today the revision of its previous earnings forecast for the fiscal year ending March 31, 2007, which was published on May 19, 2006.
1.
Revision of Earnings Forecast (Fiscal year
ending
(Consolidated) (Millions of Yen)
|
Total Income |
Ordinary Profit
|
Net
Income
|
Previous Forecast (A) |
84,500
|
19,600
|
10,300
|
Revised Forecast (B) |
94,000
|
19,600
|
10,300
|
Difference (B) - (A) |
+
9,500
|
―
|
―
|
PercentageChange |
+
11.2
|
―
|
―
|
(Ref.) Year ended
|
81,443
|
13,779
|
6,718
|
(Non-consolidated) (Millions of Yen)
|
Total Income |
Ordinary Profit
|
Net
Income
|
Previous Forecast (A)
|
73,500
|
18,600
|
10,000
|
Revised Forecast (B) |
81,000
|
18,600
|
10,000
|
Difference (B) - (A) |
+
7,500
|
―
|
―
|
PercentageChange |
+
10.2
|
―
|
―
|
(Ref.) Year ended
|
72,546
|
15,629
|
8,726
|
2. Factors behind the revision
(1) Consolidated earnings
Mainly in banking business, interest
income on loans and discounts is expected to increase mainly due to rise of
interest rates as a result of the change in monetary policy of the Bank of
Japan. As a
result, KUBC expects total income to be 94.0 billion
yen, an increase by 9.5 billion yen (+11.2%) compared with the previous forecast.
(2) Non-consolidated
earnings
Interest income on loans and
discounts is expected to increase mainly due to rise of interest rates
as a result of the change in monetary policy of the Bank of Japan. As a result, KUBC
expects total income to be 81.0 billion yen, an increase by 7.5 billion
yen (+10.2%) compared with the previous forecast.
