Credit Saison Co., Ltd.

Credit Saison announced on the 10th that it will jointly launch a personal banking service called Saison Bank (provisional name) with its capital partner Suruga Bank in early 2027. The service aims to lock in customers through preferential interest rates based on their Saison Card usage. The partners aim to open 100,000 deposit accounts and secure 100 billion yen in deposit balances within three years. Deposit accounts opened at Suruga Bank's internet branch, the Saison Branch, will be linked with Credit Saison's services, allowing card members to check their deposit balances through an app. In addition to preferential deposit interest rates, the companies are considering offering perks such as movie and sports tickets in partnership with other companies.

Credit Saison Co Ltd reported record-high first-quarter profits for fiscal year 2027, with consolidated ordinary income of 11.2 billion yen, up 12% year-over-year, business profit of 30.4 billion yen, up 13%, and net income attributable to parent company shareholders of 21.7 billion yen, up 35%. The credit card segment drove growth with 380,000 new card issuances, an increase of 80,000 from the prior year, supported by digital marketing and a new premium card launch. The company recorded a one-time loss of approximately 3.2 billion yen related to credit guarantee business adjustments and a 4 billion yen loss in its investment securities segment, but management expressed confidence in achieving its full-year plan, including a business profit target of 100 billion yen.

The consensus forecast for Credit Saison's recurring profit for the fiscal year ending March 2027 rose 0.2% from the prior week's 110.05 billion yen to 110.226 billion yen. The rating consensus remained unchanged at 4.1.