THE BANK OF SAGA LTD., July-September (2Q) Ordinary Profit Decreases by 10%

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Fri Nov 8, 2024 2:30 pm JST Earnings

8395 THE BANK OF SAGA LTD. 【J-GAAP】

Earnings Report

THE BANK OF SAGA LTD. <8395> [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 25.2% from the same period last year, reaching 6.03 billion yen. The progress rate against the 10.1 billion yen full-year plan was 59.8%, almost the same as the five-year average of 58.6%.

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 47.8% from the same period last year, reaching 4.06 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 2.46 billion yen, a 9.7% 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	23,439	ー	6,163	4,712	280.8	84.8	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	26,755	ー	4,824	3,744	222.9	63.7	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	29,071	ー	6,039	4,313	256.0	59.8	Nov 8, 2024	J-GAAP
YoY	+8.7%	－	+25.2%	+15.2%	+14.8%

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	28,000	ー	6,000	4,100	243.9	40	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	29,071	ー	6,039	4,313	256.0	40	Nov 8, 2024	J-GAAP
Revision Rate	+3.8%	－	+0.7%	+5.2%	+4.9%

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	26,258	ー	2,747	2,474	147.3	45	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	24,929	ー	4,061	2,487	147.2	40	Nov 8, 2024	J-GAAP
YoY	-5.1%	－	+47.8%	+0.5%	0.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	47,675	ー	7,265	5,491	327.1	70	May 11, 2023	J-GAAP
Mar, 2024	53,013	ー	7,571	6,218	370.1	80	May 10, 2024	J-GAAP
Mar, 2025 Guidance	54,000	ー	10,100	6,800	402.6	80	May 10, 2024	J-GAAP
YoY	+1.9%	－	+33.4%	+9.4%	+8.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	12,762	ー	2,725	2,010	119.7	0.0	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	13,182	ー	348	876	52.1	0.0	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	13,076	ー	2,399	1,598	95.1	0.0	May 10, 2024	J-GAAP
Apr - Jun, 2024	14,914	ー	3,577	2,482	147.7	0.0	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	14,157	ー	2,462	1,831	108.7	0.0	Nov 8, 2024	J-GAAP
YoY	+10.9%	－	-9.7%	-8.9%	-9.2%