Seven Bank reported higher revenue and profit in the first quarter of the fiscal year ending March 2027, driven by strong domestic ATM and US businesses. Ordinary revenue reached a record high for a first quarter, and the full-year forecasts were revised.
On a consolidated basis, ordinary revenue was ¥56.8 billion, ordinary profit was ¥10.8 billion and quarterly net income was ¥6.5 billion, all substantially higher than in the same period of the previous year, resulting in higher revenue and profit on both a consolidated and non-consolidated basis. Contributions came from the domestic ATM business, domestic retail business and overseas business. Quarterly profit growth was described as the first since the first quarter of fiscal 2023 and was viewed as highly positive.
Seven Bank's non-consolidated results were ordinary revenue of ¥37.2 billion, ordinary profit of ¥9.4 billion and quarterly net income of ¥6.4 billion. The review of the depreciation period for ATMs had an impact of approximately ¥1.0 billion, but revenue and profit still increased even excluding this impact. Cost reductions and lower provisions also contributed.
Domestic ATM usage totaled 286 million transactions in the first quarter, with an average of 110.5 transactions, while the number of ATMs at the end of the quarter was 28,614, up 532 from the same period of the previous year. Installation at FamilyMart stores began on 1 June and expanded as planned by the end of the quarter. The number of accounts was 3.502 million, and the deposit balance was ¥642.9 billion, bringing the total including individual deposits to approximately ¥915.0 billion.
The full-year forecast revision leaves consolidated ordinary revenue unchanged, while reducing consolidated ordinary expenses by ¥4.0 billion, increasing ordinary profit by ¥4.0 billion and increasing net income by ¥3.0 billion. The impact of changing the useful life of ATMs from 5 years to 7 years, estimated at approximately ¥1.07 billion of positive impact, has also been incorporated, with the positive effect expected to total approximately ¥4.0 billion for the year. Seven Bank's non-consolidated forecasts were revised on the same basis.