TOTTORI BANK Ltd <8383.T> : Says it appoints Masahiko Miyazaki who is current president of the co as new chairman of the board . Says it appoints Koji Hirai as new president .Says changes will occur on June 24.
Tottori Bank Ltd:Says the company increased the consolidated mid-year outlook for ordinary profit to 2,150 million yen from 1,400 million yen for the fiscal year ending March 2016.Net profit forecast increased to 1,400 million yen from 1,000 million yen.Earnings per share increased to 14.94 yen from 10.61 yen.Comments that the decreased credit expenses is the main reason for the forecast.
Tottori Bank Ltd:Says the company increased the consolidated mid-year outlook for ordinary profit to 2,400 million yen from 1,500 million yen for the fiscal year ending March 2015.Net profit forecast increased to 1,800 million yen from 1,000 million yen.Earnings per share increased to 19.07 yen from 10.59 yen.Comments that the decreased credit limited expenses is the main reason for the forecast.
Tottori Bank Ltd:Says uncollectible receivables in the amount of 528 million yen from a Tottori-based company, which is engaged in food production business.Says this is because the Tottori-based company has filed for bankruptcy.
Tottori Bank Ltd:To pay year-end dividend of 3 yen per share, above latest dividend forecast of 2.5 yen per share, for fiscal year 2014.Record date March 31 and effective date June 26.
Tottori Bank Ltd:Raised full-year consolidated outlook for fiscal year ended March 31, 2014.Full-year ordinary profit outlook of 2,730 mln yen raised from 1,900 mln yen.Full-year net profit outlook of 1,580 mln yen raised from 1,100 mln yen.Full-year earnings per share outlook of 16.74 yen raised from 11.65 yen.Outlook raised due to improvement of net interest income and securities related loss and profit.
Tottori Bank Ltd:To dissolve wholly owned subsidiary Torigin Business Service, which is engaged in operation of businesses outsourced from the bank.Effective June 30.Dissolution to be completed by end of September.
Reuters reported that Japan Credit Rating Agency, Ltd. has affirmed the rating on Tottori Bank Ltd at "BBB". The rating outlook is stable.
Tottori Bank Ltd announced that it has raised its mid-year consolidated outlook for ordinary profit from JPY 800 million to JPY 1,040 million, net profit from JPY 500 million to JPY 650 million, and earnings per share from JPY 5.29 to JPY 6.88, for the fiscal year ending March 2014. The Company raised its mid-year consolidated outlook mainly due to the increase in capital profit and decrease in credit cost.
Tottori Bank Ltd announced its concern of uncollectible or delayed receivables in the amount of JPY 1,309 million from an Okayama-based company that is engaged in manufacturing in electricity equipments. This is because the Okayama-based company has filed for bankruptcy procedure on August 30, 2013.