The 77 Bank,Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 6%, Adds to Record High Profit Forecast, Dividend Revised Upward by 15 yen

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Fri Nov 8, 2024 2:30 pm JST Earnings

8341 The 77 Bank,Ltd. 【J-GAAP】

Earnings Report

The 77 Bank,Ltd. <8341> [TSE-P] announced its financial results in the afternoon session on November 8th (14:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 13.0% from the same period last year, reaching 28.6 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 6.2%, from the previous forecast of 48.5 billion yen to 51.5 billion yen (compared to 44.2 billion yen in the previous period), increasing the growth rate from 9.6% to 16.4%, further surpassing the previous forecast of record-high profits for four consecutive terms.

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 grow by 21.0% from the same period last year, reaching 22.8 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 140 yen to 155 yen (compared to 122.5 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 12.1 billion yen, a 5.1% 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	61,098	ー	19,799	12,968	175.4	55.3	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	73,802	ー	25,383	17,692	239.0	57.4	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	83,816	ー	28,691	19,786	266.9	55.7	Nov 8, 2024	J-GAAP
YoY	+13.6%	－	+13.0%	+11.8%	+11.7%

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	26,500	18,000	242.8	70	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	83,816	ー	28,691	19,786	266.9	77.50	Nov 8, 2024	J-GAAP
Revision Rate	－	－	+8.3%	+9.9%	+9.9%

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	48,500	33,000	444.8	140	May 10, 2024	J-GAAP
Mar, 2025 New	ー	ー	51,500	35,000	471.7	155	Nov 8, 2024	J-GAAP
Revision Rate	－	－	+6.2%	+6.1%	+6.1%

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	76,750	ー	18,858	12,110	163.5	67.50	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	ー	ー	22,809	15,214	205.1	77.50	Nov 8, 2024	J-GAAP
YoY	－	－	+21.0%	+25.6%	+25.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	122,053	ー	35,777	25,056	338.7	90	May 12, 2023	J-GAAP
Mar, 2024	150,552	ー	44,241	29,802	402.4	122.50	May 10, 2024	J-GAAP
Mar, 2025 Guidance	ー	ー	51,500	35,000	471.7	155	Nov 8, 2024	J-GAAP
YoY	－	－	+16.4%	+17.4%	+17.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	35,724	ー	12,818	9,209	124.4	0.0	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	32,538	ー	10,644	7,373	99.6	0.0	Jan 26, 2024	J-GAAP
Jan - Mar, 2024	44,212	ー	8,214	4,737	64.0	0.0	May 10, 2024	J-GAAP
Apr - Jun, 2024	44,174	ー	16,522	11,314	152.7	0.0	Jul 26, 2024	J-GAAP
Jul - Sep, 2024	39,642	ー	12,169	8,472	114.3	0.0	Nov 8, 2024	J-GAAP
YoY	+11.0%	－	-5.1%	-8.0%	-8.1%