Credit Saison achieves record group net profit for 1st half.

TOKYO, Nov. 24 Kyodo

Credit card service provider Credit Saison Co. said Wednesday its group net profit for the April-September first half of fiscal 2004 hit a record high of 15.90 billion yen, up 21.3 percent from a year earlier.

Its group revenues also rose 8.2 percent to a new high of 117.23 billion yen as its credit cards were used more frequently and the number of its card holders increased by 980,000 people, or 3.1 percent, during the first half to 16.36 million, the company said.

Per-share group net profit increased to 93.51 yen from 76.68 yen. Pretax profit expanded 13.1 percent to 28.01 billion yen.

Credit Saison paid no interim dividends for the first half, but plans to pay 20 yen per share at the end of the current business year, up 2 yen from the previous year.

For the whole of fiscal 2004, Credit Saison expects to boost group net profit to 31.5 billion yen from 22.42 billion yen for the previous year on 237 billion yen in revenues, up from 220.33 billion yen.

Credit Saison has formed an alliance with Mizuho Bank  to issue common cards next year.