The Minami-Nippon Bank,Ltd., First Half Ordinary Profit Increases by 59%, Exceeds Full-Year Plan

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Fri Nov 8, 2024 2:00 pm JST Earnings

8554 The Minami-Nippon Bank,Ltd. 【J-GAAP】

Earnings Report

The Minami-Nippon Bank,Ltd. <8554> [FukuokaSE] announced its financial results in the afternoon session on November 8th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 2.01 billion yen, an increase of 59.3% compared to the same period last year. The progress rate against the full-year plan of 1.6 billion yen is 125.8%, already exceeding the target and also exceeding the five-year average of 67.8%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to March period (second half) is expected to turn into a loss of 412 million yen (compared to a profit of 772 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 51.7% from the same period last year, reaching 1.27 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	7,399	ー	887	766	74.7	47.1	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	7,309	ー	1,263	1,145	133.4	62.1	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	8,517	ー	2,012	1,514	182.6	125.8	Nov 8, 2024	J-GAAP
YoY	+16.5%	－	+59.3%	+32.2%	+36.9%

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	1,980	1,480	190.8	0	Nov 1, 2024	J-GAAP
Apr - Sep, 2024 Results	8,517	ー	2,012	1,514	182.6	0	Nov 8, 2024	J-GAAP
Revision Rate	－	－	+1.6%	+2.3%	-4.3%

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	7,256	ー	772	468	53.3	30	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	ー	ー	-412	-414	-46.1	30	Nov 8, 2024	J-GAAP
YoY	－	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	14,651	ー	1,883	1,532	160.7	25	May 11, 2023	J-GAAP
Mar, 2024	14,565	ー	2,035	1,613	183.8	30	May 10, 2024	J-GAAP
Mar, 2025 Guidance	ー	ー	1,600	1,100	122.6	30	May 10, 2024	J-GAAP
YoY	－	－	-21.4%	-31.8%	-33.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,739	ー	839	612	71.3	0.0	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	3,728	ー	408	273	31.5	0.0	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	3,528	ー	364	195	22.2	0.0	May 10, 2024	J-GAAP
Apr - Jun, 2024	3,883	ー	739	487	57.0	0.0	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	4,634	ー	1,273	1,027	123.9	0.0	Nov 8, 2024	J-GAAP
YoY	+23.9%	－	+51.7%	+67.8%	+73.7%