HONG KONG, Jan. 18, 2021 /PRNewswire/ -- HONMA Golf Limited ("HONMA" or the "Company"; together with its subsidiaries, the "Group"; HKEx stock code: 6858), one of the most prestigious and iconic brands within the golf industry, announced a partnership with six uprising athletes from The Ladies Professional Golfers' Association of Japan (JLPGA), including multiple-time JLPGA champion Misuzu Narita, top 50 seeded player of this season Rumi Yoshiba, and uprising players Shina Kanazawa, Momo Yoshikawa, Minami Hiruta and Nanoko Hayashi.
The new partnership aims to further enhance HONMA's tour presence in its Asia home base showcasing its exquisite club-making craftsmanship while reinforcing the 62-year-old premium brand with its performance-driven consumers, especially young millennial golfers amid the promising trend of golf development in Asia.
The new joiners, aged between 22 and 28, will be seen using HONMA clubs and apparels from Spring 2021 anchoring HONMA's most recent WOW! CHALLENGERS campaign, created in conjunction with the newly launched T//WORLD GS club series featuring extraordinary speed and surprising distance to "WOW" the golfers. Together with the existing Team HONMA pros, they are challenged to achieve 10 JLPGA wins in 2021, equipped with not just HONMA gears but also the unique support from master craftsmen at HONMA's R&D and manufacturing base in Sakata, Japan.
"I'm thrilled by the quality and performance of HONMA clubs. I cannot wait to play with my new GS clubs. They are the best clubs I have ever used," said 28-year-old Misuzu Narita, a 13-time JLPGA champion.
"Playing with the right club is key to win," added Rumi Yoshiba, winner of the 2016 Nippon Ham Classic. "HONMA has been providing the best-fitting clubs that go beyond my expectation. The team's expertise, passion, and attention to detail has really struck a chord with me. I am confident in achieving my goals through partnership with HONMA."
Already on Team HONMA Japan are five existing members, including renowned golfer LEE Bo-mee, a new talent Goto Miyu, and three male players from Japan Golf Tour Organization (JGTO) -- Hideto Tanihara, Koumei Oda and Shintaro Kobayashi.
"The new Team HONMA Japan boasts a strong group of 11 pro-golfers that would significantly enhance our tour presence in the Japan market," said Mr. Nobuyuki Hishinuma, Executive Vice President of HONMA Japan. "I'm really excited to have such young talent on board as they refresh the vibe of the brand. We are looking forward to their growth and achievements in the coming years while we grow the business."
Mr. Liu Jianguo, Chairman of HONMA Golf, commented, "Tour presence is indispensable in HONMA's efforts to become a major global golf brand. We have been carefully evaluating sponsorship opportunities in each of our major markets. It is crucial that the sponsorship be relevant to local market dynamics and speak to the target customers so that the tour presence can effectively convert into brand awareness and in turn fuel our growth strategies."
About HONMA Golf Limited
HONMA is one of the most prestigious and iconic brands in the golf industry. Founded in 1959, the Company utilizes the latest innovative technologies and traditional Japanese craftsmanship to provide golfers across the globe with premium, high-tech and the best performing golf clubs, balls, apparels and accessories. HONMA's products are sold in approximately 50 countries worldwide, primarily in Asia and across North America, Europe and other regions. The Company was successfully listed on the Main Board of The Stock Exchange of Hong Kong Limited on 6 October 2016 (SEHK stock code: 6858).
As the only vertically integrated golf company with in-house design, development and manufacturing capabilities, a strong retail footprint in Asia and a diverse range of golf related products, HONMA is perfectly positioned to continually grow its business in Asia and beyond, benefitting from the return of golfers in mature golf markets such as the US and Japan and from increased participation in golf's new and under-penetrated markets such as South Korea and China.
For other investor relations matters, please visit HONMA's website: https://www.honmagolf.com
SOURCE HONMA Golf Limited
(RTTNews) - European stocks are likely to open lower on Friday after U.S. President-elect Joe Biden unveiled his $1.9 trillion stimulus plan, which raised optimism for further economic revival but increased inflation expectations.
Investors fear that climbing U.S. yields on expectations of growth revival may spell trouble for bond markets.
Biden also announced details of the American Rescue Plan as deaths from the coronavirus hit record levels and local governments expand lockdowns to stem the pandemic's spread during the winter months.
Sino-U.S. tensions also remain on investors' radar after the U.S. government blacklisted Chinese smartphone maker Xiaomi Corp and ten other companies.
Asian stocks are trading mixed amid speculation that Biden may struggle to win support for massive spending, even from some Democrats.
Continuing concerns about the Covid pandemic also weighed on sentiment. German Chancellor Angela Merkel wants a "mega-lockdown" after the country suffered its deadliest-ever day of the coronavirus pandemic on Thursday.
The dollar edged higher in Asian deals while oil held near a 10-month high on hopes of increased fuel demand.
Monthly GDP, industrial production and foreign trade figures from the U.K. are due later in the session, headlining a light day for the European economic news.
Across the Atlantic, trading may be impacted by reaction to a slew of U.S. economic data, including reports on retail sales, industrial production and consumer sentiment.
Earnings news may also sway sentiment, with financial giants Citigroup, JPMorgan Chase and Wells Fargo due to report their quarterly results before the opening bell.
U.S. stocks ended slightly lower overnight as disappointing jobless claims and consumer confidence data offset stimulus hopes.
In wide-ranging remarks, Fed chairman Powell downplayed the risk of higher inflation and talk of the central bank tapering its bond purchases in the near term.
The Dow Jones Industrial Average slipped 0.2 percent, the tech-heavy Nasdaq Composite slid 0.1 percent and the S&P 500 eased 0.4 percent.
European markets advanced for the third straight session on Thursday despite Italy plunging into political crisis.
The pan European Stoxx 600 climbed 0.7 percent. The German DAX rose 0.4 percent, France's CAC 40 index gained 0.3 percent and the U.K.'s FTSE 100 added 0.8 percent.
The Board of Directors of First National Bank Alaska (OTCQX:FBAK) announced the bank’s unaudited net income for second quarter 2020 was $14.6 million, or $4.60 per share. The bank’s net income for the period compares to net income of $13.1 million, or $4.12 per share, for the same period in 2019. Unaudited year-to-date net income was $28.7 million, or $9.07 per share. This compares to net income of $26.6 million, or $8.39 per share for the same period in 2019.
"Like most other banks across the nation, we are seeing rapid changes in consumer and business behaviors that will likely leave permanent marks across the financial services spectrum, such as the increasing adoption of digital services,” said Chair and CEO Betsy Lawer. "First National’s success has always reflected the success of Alaskans as they rise up to meet and adapt to quickly evolving circumstances. While it’s difficult to predict what’s yet to come, the bank’s strength lies in our experienced team’s ability not just to adapt, but also to transform our business processes and services to leverage the power of change. I think our 2020 performance to date provides the evidence to support that and I’m very proud of the hard-working team.”
Net interest and loan fee income for second quarter 2020 was $37.9 million, an increase of 13.0% from second quarter 2019. This improvement was driven by an increase in average earning assets of $223.9 million during the second quarter. Total assets increased $734.9 million year-to-date, to reach $4.59 billion at June 30, 2020. Gross loans increased $305.3 million to $2.31 billion during the quarter. The bank demonstrated its commitment to Alaskans by participating in the Small Business Administration Paycheck Protection Program (SBA PPP). The bank originated 2,156 unique SBA PPP loans totaling $329.7 million with an average weighted origination fee of 3.70%. Deposits and repurchase agreements increased $682.8 million to $3.94 billion during the quarter on unspent PPP funds and CARES Act resources to Native tribes and government entities and other deposit growth attributed to increased savings behavior.
Customers were further supported through modification of existing loan terms. Loan modifications through June 30, 2020 totaled $394.4 million, or 19.87% of total loans, excluding SBA PPP loans. Modification to interest-only payments accounted for more than 80% of the modifications, with interest-only periods ranging from three to fourteen months. Modifications were concentrated in commercial real estate loans, supporting our customers facing economic pressures in the rental and leasing sectors, and hotel and food service industries.
At June 30, 2020, delinquent loans from 30 to 89 days were $15.6 million, 0.78% of outstanding loans excluding SBA PPP loans, an increase of $9.8 million from March 31, 2020. Nonperforming loans were $13.4 million, 0.67% of outstanding loans excluding SBA PPP loans, an increase of $3.0 million from the prior quarter. In response to the economic uncertainty and elevated delinquency and loan modification activity, the allowance for loan losses was increased in second quarter by $2.0 million to $21.6 million, 0.93% of total loans (1.09% of loans excluding SBA PPP), resulting in an increased provision for loan loss expense of $1.8 million over second quarter 2019.
Noninterest income for second quarter 2020, excluding realized investment gains and losses, increased 6.1% from second quarter 2019 on elevated mortgage loan origination driven by the significant decrease in market interest rates in March. Noninterest expenses for second quarter 2020 increased 4.8% as compared to second quarter 2019 on increases in salary and benefit expenses. The efficiency ratio improved to 52.24% compared to 53.71% in 2019 on revenue growth and strong overall expense management.
The blended yield on interest-earning assets decreased to 3.87% from 4.14% for the six month periods ended June 30, 2020 and 2019, respectively, with the addition of the PPP 1% interest loans and other repricing assets. The cost to fund earning assets for the same six-month comparative periods decreased faster to 0.15% from 0.46%. As a result, the net interest margin year to date improved to 3.72% compared to 3.69% in 2019. Return on assets through June 30, 2020 was 1.43%, comparable to prior year. Return on equity of 10.06% for the first half of 2020 decreased from 10.22% in the first half of 2019 on an increase in total shareholders’ equity of $14.2 million to $590.0 million. Book value per share as of June 30, 2020 was $186.26, compared with $168.73 and $172.91 as of June 30, 2019 and December 31, 2019, respectively. The bank tier 1 leverage capital ratio remains above well capitalized at 12.72% as of June 30, 2020, as compared to 13.76% as of December 31, 2019.
Lawer added, "These are unprecedented times, but our community bank entered the pandemic well-positioned to serve the banking needs of Alaskans just as we have for nearly a century. Our strong liquidity, capital position, operating metrics and heroic statewide employee team have enabled us to effectively manage the banking risks and serve our valuable customers—friends and neighbors—during these challenging times.”
First National Bank Alaska files a quarterly financial report with the Federal Financial Institution Examination Council. Our latest Consolidated Report of Condition and Income (Call Report) is filed by the 30th of the month following quarter-end and is subsequently posted at www.FNBAlaska.com > Financial Reports and at www.OTCMarkets.com.
Alaskan-owned and -operated since 1922, First National proudly meets the financial needs of Alaskans with ATMs and branches in 18 communities throughout the state, and by providing banking services to meet their needs across the nation and around the world. In 2020, Alaska Business readers voted the bank the "Best of Alaska Business” in the Best Place to Work category for the fifth year in a row. In 2019, American Banker recognized First National as a "Best Bank to Work For” for the second year in a row and Anchorage Daily News readers voted the bank one of the state’s top three financial institutions in the ADN "Best of Alaska” Awards. First National was also recognized as the most admired company in the state by MSN.com and received the Rita Sholton Large Business of the Year Award from the Alaska Chamber.
Visit FNBAlaska.com for more information about Alaska’s largest locally owned bank and access to efficient and secure online banking services. First National Bank Alaska is a Member FDIC and Equal Housing Lender.
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