Nishi-Nippon Financial Holdings,Inc., First Half Ordinary Profit Unexpectedly Revised Upward by 6%, Current Fiscal Year Dividend Revised Upward by 5 yen

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Wed Nov 6, 2024 4:30 pm JST Earnings

7189 Nishi-Nippon Financial Holdings,Inc. 【J-GAAP】

Earnings Report

Nishi-Nippon Financial Holdings,Inc. <7189> [TSE-P] announced its financial results after the market closed on November 6th (16:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 5.9% from the same period last year, reaching 23.5 billion yen, resulting in an increase in profits compared to the previous forecast of a 12.5% decrease.

The progress rate against the 41 billion yen full-year plan was 57.6%, almost the same as the five-year average of 57.0%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to expand by 30.7% from the same period last year, reaching 17.4 billion yen.

At the same time, the company has increased its planned annual dividend for the current fiscal year from the original plan of 60 yen to 65 yen (compared to 55 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 8.39 billion yen, a 12.8% decrease compared to the same period last year.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Sep, 2022	73,839	ー	19,032	13,500	93.6	56.5	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	91,261	ー	22,293	15,407	108.9	62.6	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	94,855	ー	23,599	16,420	117.1	57.6	Nov 6, 2024	J-GAAP
YoY	+3.9%	－	+5.9%	+6.6%	+7.5%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	ー	ー	19,500	13,000	92.7	30	May 8, 2024	J-GAAP
Apr - Sep, 2024 Results	94,855	ー	23,599	16,420	117.1	30	Nov 6, 2024	J-GAAP
Revision Rate	－	－	+21.0%	+26.3%	+26.3%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	ー	ー	41,000	27,000	193.9	60	May 8, 2024	J-GAAP
Mar, 2025 New	ー	ー	41,000	27,000	193.9	65	Nov 6, 2024	J-GAAP
Revision Rate	－	－	0.0%	0.0%	0.0%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	94,334	ー	13,316	8,169	57.9	30	May 8, 2024	J-GAAP
Oct - Mar, 2024 Guidance	ー	ー	17,401	10,580	76.0	35	Nov 6, 2024	J-GAAP
YoY	－	－	+30.7%	+29.5%	+31.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	160,448	ー	33,677	26,064	181.6	45	May 12, 2023	J-GAAP
Mar, 2024	185,595	ー	35,609	23,576	167.1	55	May 8, 2024	J-GAAP
Mar, 2025 Guidance	ー	ー	41,000	27,000	193.9	65	Nov 6, 2024	J-GAAP
YoY	－	－	+15.1%	+14.5%	+16.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	45,971	ー	9,627	6,842	48.4	0.0	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	47,463	ー	6,823	4,449	31.5	0.0	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	46,871	ー	6,493	3,720	26.4	0.0	May 8, 2024	J-GAAP
Apr - Jun, 2024	50,794	ー	15,201	10,372	73.9	0.0	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	44,061	ー	8,398	6,048	43.1	0.0	Nov 6, 2024	J-GAAP
YoY	-4.2%	－	-12.8%	-11.6%	-10.9%