Akita Bank, Ltd.

Akita Bank announced on the 24th that it will implement a 5-for-1 stock split effective October 1, with September 30 as the record date. The move aims to lower the investment amount per unit, broaden the investor base, and improve stock liquidity.

Akita Bank announced its consolidated results for the April-to-June quarter, with net profit rising 48.7% year-on-year to 3.551 billion yen. The figures are based on Japanese accounting standards for the first quarter, and details on the drivers of the profit increase and other income items have not been disclosed.

Iwate Bank President Toru Iwayama has indicated that business integrations and mergers are among the options, given the declining population and rising burden of digital investment. While stating there are no concrete discussions at this time, he said the bank wants to flexibly explore the optimal approach, including partnerships with other industries. Regarding the comprehensive business alliance with Akita Bank, he said the goal of boosting combined ordinary profit by 3.04 billion yen over the five-year period through fiscal 2026 is expected to be achieved, and expressed eagerness to strengthen collaboration. On the business alliance with Daiwa Securities, he explained that the bank aims to enhance its asset-building business and increase both deposits and assets under custody, revealing that about 50 people have been seconded from Daiwa Securities to the Asset Consulting Department launched this April. In Iwate Prefecture, there are three banks in total: Iwate Bank, North Japan Bank, and Tohoku Bank, in which SBI Holdings has a stake. On the topic of prefectural realignment, he merely commented that the three banks may currently be fulfilling their roles well.