Shimane Bank (7150) will issue ¥10 billion of Class C preferred shares to SBI Shinsei Bank through a third-party allotment and sell about ¥60 billion of securities carrying unrealized losses, cutting its forecast for the year ending March 2027 to a net loss of ¥5.98 billion from a profit of ¥270 million.
Shimane Bank expects to book a loss of about ¥6.5 billion on the securities sale, scheduled for January to March 2027, resulting in a one-off loss at both the ordinary and net levels for the fiscal year. It now projects a loss per share of ¥750.45, compared with earnings of ¥18.13 forecast previously. The bank said it is rebuilding its portfolio in response to the arrival of a "world with interest rates," and expects its capital adequacy ratio to rise to about 8.5% at the end of March 2027. Its forecast annual common dividend of ¥10 per share is unchanged.
SBI Shinsei Bank, which became Shimane Bank's largest shareholder on June 30, 2026, will take all 10 million Class C shares at ¥1,000 each. The non-voting shares can be counted in full as core capital. The right to request conversion into common stock cannot be exercised for five years after issuance, and Shimane Bank may acquire the shares for cash from 10 years after issuance.
The bank also raised its first-half ordinary profit forecast to ¥260 million from ¥150 million, while first-half net profit is now seen at ¥100 million, down from ¥120 million. Under its medium-term plan, it raised its net profit target for the year ending March 2028 to ¥1.2 billion from ¥600 million and cut its core net business profit target to ¥1.7 billion from ¥2.2 billion. The chairman and the president will take a 30% cut in monthly pay from January to March 2027.
Next steps: Extraordinary and class shareholders' meetings are scheduled for Dec. 24, 2026, to vote on amending the articles of incorporation and on the share issue. The payment date is Dec. 25, 2026, which is also the effective date for the reduction in capital and capital reserves.
| Hikari Tsushin, Inc. | |
| Offer price | ¥1,000 per common share |
| M&A / TOB | 1 |
| Guidance | 0 |
| Buybacks | 0 |
| Dividends | 0 |
| Capital | 0 |
| Earnings | 0 |
| People | 0 |
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