Key Developments: Suruga Bank Ltd (8358.T)

8358.T on Tokyo Stock Exchange

1,562JPY
24 May 2013
Price Change (% chg)

¥19 (+1.23%)
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¥1,844
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¥1,570
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Volume
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¥1,999
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Latest Key Developments (Source: Significant Developments)

Suruga Bank Ltd Announces Year-end Dividend Payment for 2013
Friday, 10 May 2013 02:00am EDT 

Suruga Bank Ltd announced that it has decided to pay a year-end dividend of JPY 8.50 per share, above the last forecast of JPY 6.50 per share, to all shareholders of record as of March 31, 2013, for the fiscal year ended March 31, 2013. The payment will be conducted on June 3, 2013.  Full Article

Suruga Bank Ltd. Raises Consolidated Full-year Outlook for FY Ended March 2012
Tuesday, 24 Apr 2012 10:30pm EDT 

Suruga Bank Ltd. announced that it has raised its consolidated full-year outlook for ordinary income from JPY 102,900 million to JPY 107,200 million, ordinary profit from JPY 21,700 million to JPY 29,700 million, net profit from JPY 13,800 million to JPY 15,500 million and earning per share from JPY 57.99 to JPY 65.14 for the fiscal year ended March 31, 2012. This is due to the increased loan interests, and decreased expenses and costs on credit businesses. According to I/B/E/S Estimates, analysts on average are expecting the Company to report full-year revenue of JPY 99.67 billion and net profit of JPY 14.84 billion.  Full Article

Suruga Bank Ltd. Announces Verdict of Lawsuit
Thursday, 29 Mar 2012 02:30am EDT 

Suruga Bank Ltd. announced that it has received the verdict of a lawsuit the Company filed against IBM Japan, Ltd. on February 29, 2008, from the Tokyo District Court, on March 29, 2012. The Tokyo District Court asked IBM Japan to pay the Company compensation of JPY 7,413,666,128, as well as interest of 5% per annual from July 18, 2007 to the completion of payment.  Full Article

Suruga Bank Ltd. to Fully Acquire Maruwa Shoji.
Thursday, 8 Mar 2012 03:30am EST 

Suruga Bank Ltd. announced that it will purchase 96,000 shares of Maruwa Shoji., which is engaged in the loan businesses in Shizuoka prefecture, Japan, at the price of JPY 4.8 billion, effective March 14, 2012. As a result, the Company will hold 100% voting rights (96,000 voting rights) in Maruwa Shoji, up from 0%.  Full Article

Suruga Bank Ltd. Raises Mid-year Consolidated Outlook for FY Ending March 2012
Monday, 31 Oct 2011 02:00am EDT 

Suruga Bank Ltd. announced that it has raised its mid-year consolidated outlook for revenue from JPY 50,500 million to JPY 53,000 million, ordinary profit from JPY 9,800 million to JPY 14,000 million, net profit from JPY 6,200 million to JPY 7,900 million, and earning per share from JPY 25.58 to JPY 33.01, for the fiscal year ending March 2012. The Company raised its mid-year consolidated outlook mainly due to the increase in interests on loans and discounts and the reduction in credit-related cost.  Full Article

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Suruga Bank Ltd News

RPT-Fitch affirms Japan's Suruga Bank at 'A-'/stable

March 25 - (The following statement was released by the rating agency) Fitch Ratings has affirmed Japan-based Suruga Bank Ltd.'s (Suruga) Long-Term Issuer Default Ratings (IDR) at 'A-'. The Outlook is Stable. A full list of the rating action is provided below. Key Rating Drivers Suruga's Long-Term IDRs are driven by its Viability Rating (VR), which takes into account the bank's solid liquidity position, limited exposure to market risk and capital position which compares favourably

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