The Keiyo Bank, Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 9%, Dividend Revised Upward by 2 yen

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Fri Nov 8, 2024 1:30 pm JST Earnings

8544 The Keiyo Bank, Ltd. 【J-GAAP】

Earnings Report

The Keiyo Bank, Ltd. <8544> [TSE-P] announced its financial results in the afternoon session on November 8th (13:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 11.8 billion yen, an increase of 36.5% compared to the same period last year, exceeded the previous forecast of 10.2 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 9.1%, from the previous forecast of 16.4 billion yen to 17.9 billion yen (compared to 15.6 billion yen in the previous period), increasing the growth rate from 4.6% to 14.2%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to decrease by 13.8% from the same period last year to 6 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 26 yen to 28 yen (compared to 24 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 4.09 billion yen, a 3.5% 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	34,961	ー	9,528	6,589	51.8	62.8	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	36,661	ー	8,713	6,017	47.9	55.6	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	39,572	ー	11,897	8,274	67.0	66.5	Nov 8, 2024	J-GAAP
YoY	+7.9%	－	+36.5%	+37.5%	+39.9%

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	10,200	7,000	56.7	13	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	39,572	ー	11,897	8,274	67.0	14	Nov 8, 2024	J-GAAP
Revision Rate	－	－	+16.6%	+18.2%	+18.3%

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	16,400	11,100	91.6	26	May 9, 2024	J-GAAP
Mar, 2025 New	ー	ー	17,900	12,100	99.9	28	Nov 8, 2024	J-GAAP
Revision Rate	－	－	+9.1%	+9.0%	+9.0%

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	33,554	ー	6,965	4,861	38.9	12.50	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	ー	ー	6,003	3,826	31.6	14	Nov 8, 2024	J-GAAP
YoY	－	－	-13.8%	-21.3%	-18.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	65,614	ー	15,174	10,390	81.8	22	May 11, 2023	J-GAAP
Mar, 2024	70,215	ー	15,678	10,878	87.1	24	May 9, 2024	J-GAAP
Mar, 2025 Guidance	ー	ー	17,900	12,100	99.9	28	Nov 8, 2024	J-GAAP
YoY	－	－	+14.2%	+11.2%	+14.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	16,880	ー	4,248	2,943	23.4	0.0	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	18,166	ー	4,418	3,017	24.1	0.0	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	15,388	ー	2,547	1,844	14.8	0.0	May 9, 2024	J-GAAP
Apr - Jun, 2024	21,589	ー	7,798	5,416	43.9	0.0	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	17,983	ー	4,099	2,858	23.2	0.0	Nov 8, 2024	J-GAAP
YoY	+6.5%	－	-3.5%	-2.9%	-1.2%