Norinchukin Bank logs $395.49m profit in Q1 FY2025

This is a reversal from its JPY412.7b loss a year earlier.

Norinchukin Bank’s profit attributable to owners of the company came at $$395.49m (JPY58.2b) in the first quarter of FY2025, a reversal from the JPY412.7b loss a year earlier.

Ordinary income fell 72.5% to $3.73b (JPY549.6b) in the Apr-June period.

Ordinary expenses declined to $3.35b (JPY492.9b), compared to JPY1t recorded a year earlier.  This is in part thanks to interest expenses falling to $2.81b (JPY413b), from JPY695.2b the previous year.

Ordinary profits rose to $483.8m (JPY71.2b) versus a loss of JPY389.6b in Q1 FY2024.

Total net assets is at $33.02b (JPY4.86t) in June 2025, slightly higher than the JPY4.71t in total net assets last March 2025.

Norinchukin Bank expects its full FY2025 profit to be in the JPY30b–JPY70b range.

(US$1 = JPY147.18; as of 8 August 2025, Google, from Morningstar)