The Toho Bank, Ltd., First Half Ordinary Profit Increases by 34%, July-September Ordinary Profit Increases by 53%

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Fri Nov 8, 2024 12:00 pm JST Earnings

8346 The Toho Bank, Ltd. 【J-GAAP】

Earnings Report

The Toho Bank, Ltd. <8346> [TSE-P] announced its financial results at noon (12:00) on November 8th. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 6.83 billion yen, an increase of 34.4% compared to the same period last year. The progress rate against the 10 billion yen full-year plan was 68.3%, also surpassing the five-year average of 64.8%.

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 decrease by 2.1% from the same period last year to 3.17 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 53.5% from the same period last year, reaching 3.39 billion yen.

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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	30,687	ー	3,988	2,513	10.0	59.5	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	29,188	ー	5,083	3,309	13.1	61.1	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	32,738	ー	6,830	4,574	18.3	68.3	Nov 8, 2024	J-GAAP
YoY	+12.2%	－	+34.4%	+38.2%	+39.3%

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	32,400	ー	6,800	4,500	18.0	4	Sep 26, 2024	J-GAAP
Apr - Sep, 2024 Results	32,738	ー	6,830	4,574	18.3	4	Nov 8, 2024	J-GAAP
Revision Rate	+1.0%	－	+0.4%	+1.6%	+1.4%

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	29,796	ー	3,238	1,943	7.7	3.50	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	33,162	ー	3,170	1,826	7.3	4	Nov 8, 2024	J-GAAP
YoY	+11.3%	－	-2.1%	-6.0%	-5.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	58,703	ー	6,699	4,493	17.8	7	May 12, 2023	J-GAAP
Mar, 2024	58,984	ー	8,321	5,252	20.8	7	May 14, 2024	J-GAAP
Mar, 2025 Guidance	65,900	ー	10,000	6,400	25.6	8	Sep 26, 2024	J-GAAP
YoY	+11.7%	－	+20.2%	+21.9%	+23.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	14,334	ー	2,214	1,329	5.3	0.0	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	14,790	ー	3,066	2,222	8.8	0.0	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	15,006	ー	172	-279	-1.1	0.0	May 14, 2024	J-GAAP
Apr - Jun, 2024	16,235	ー	3,432	2,366	9.4	0.0	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	16,503	ー	3,398	2,208	8.8	0.0	Nov 8, 2024	J-GAAP
YoY	+15.1%	－	+53.5%	+66.1%	+67.4%