Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Awa Bank Falls After Cutting Full-Year Forecast

Nov. 15 (Bloomberg) -- The Awa Bank Ltd., a regional lender in western Japan, fell the most in two years in Tokyo after lowering its full-year profit forecast by 38 percent, citing severe business conditions for small-to-medium sized businesses.

The stock dropped 6.1 percent to 539 yen as of the close on the Tokyo Stock Exchange, the biggest decline since Oct. 22, 2008. Japan’s benchmark Nikkei 225 Stock Average added 1.1 percent.

Net income was 2.19 billion yen ($26 million) for the six months ended Sept. 30, lower than the company’s forecast of 2.6 billion yen, the Tokushima prefecture-based bank said in a statement to the exchange on Nov. 12. Awa Bank cut its full year forecast to 3.7 billion yen from 6 billion yen.

To contact the reporter on this story: Adam Le in Osaka at ale14@bloomberg.net

To contact the editor responsible for this story: Drew Gibson at dgibson2@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.