Releasing its first financial results since its sale on Sept. 1 to an investment consortium led by Softbank Corp., Nippon Credit Bank said Friday its operating and pretax balances moved back into the black in the first half of fiscal 2000.
During the six-month period through Sept. 30, which includes the five months through Sept. 1 when it was under state control, the bank posted a parent-only operating profit of 54.7 billion yen. This marked a sharp upturn from a loss of 12.45 billion yen posted in the same period last year.
Pretax profit also moved into the black, coming in at 98.63 billion yen against a loss of 99.64 billion yen a year earlier. Net profit was 89.93 billion yen in the reporting period.