Senior Bank Analyst - Japanese Banks, Windamee Research

J. Brian Waterhouse

Senior Bank Analyst - Japanese Banks

Windamee Research

Japanese Banks

Equity Bottom-Up

<p><a href="https://www.smartkarma.com/entities/fidea-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:17012:1" rel="noopener">Fidea Holdings (8713 JP)</a>, a bank holding company based in Miyagi Prefecture in Japan’s northern Tohoku Region, has a load of problems.  Its performance ratios are poor, its deposit base is declining, its loan portfolio is shrinking and its share price has fallen below ¥100.  Now it has slashed its earnings guidance for FY3/2020 by 64%, citing trading losses incurred by its Treasury Division in reducing group exposure to equities and REITs. Yet foreign institutional investors continue to own 16% of outstanding shares.  We fail to understand why.  <em>Caveat Emptor!</em>  (May the Buyer Beware!)</p>

Fidea Holdings (8713 JP), a bank holding company based in Miyagi Prefecture in Japan’s northern Tohoku Region, has a load of problems.  Its performance ratios are poor, its deposit base is declining, its loan portfolio is shrinking and its share price has fallen below ¥100.  Now it has slashed its earnings guidance for FY3/2020 by 64%, citing trading losses incurred by its Treasury Division in reducing group exposure to equities and REITs. Yet foreign institutional investors continue to own 16% of outstanding shares.  We fail to understand why.  Caveat Emptor!  (May the Buyer Beware!)

Fidea Holdings (8713 JP): Shrinking, Sinking

Japan

FIDEA Holdings Co.Ltd. is a holding company established through the merger of Shonai Bank and Hokuto Bank.  The group Companies provide general banking services including deposits, loans, foreign exchange, leasing, and credit cards.

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Fidea Holdings (8713 JP): Shrinking, Sinking

Fidea Holdings (8713 JP), a bank holding company based in Miyagi Prefecture in Japan’s northern Tohoku Region, has a load of problems. Its...

J. Brian Waterhouse