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THE AKITA BANK,LTD., July-September (2Q) Ordinary Profit Decreases by 43%

Fri Nov 8, 2024 2:50 pm JST Earnings

8343 THE AKITA BANK,LTD. 【J-GAAP】

Earnings Report

THE AKITA BANK,LTD. <8343> [TSE-P] announced its financial results in the afternoon session on November 8th (14:50). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 17.0% from the same period last year, reaching 3.71 billion yen, exceeded the previous forecast of 3.2 billion yen.

However, The progress rate against the 7.7 billion yen full-year plan was 48.3%, also falling below the five-year average of 59.0%.

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 grow by 16.4% from the same period last year, reaching 3.98 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 1.35 billion yen, a 43.0% 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 24,394 ー 3,830 2,685 150.2 77.6 Nov 10, 2022 J-GAAP
Apr - Sep, 2023 21,495 ー 3,177 2,267 129.0 48.2 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 26,377 ー 3,718 1,923 108.9 48.3 Nov 8, 2024 J-GAAP
YoY +22.7% － +17.0% -15.2% -15.6%

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 3,200 2,000 113.3 45 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 26,377 ー 3,718 1,923 108.9 45 Nov 8, 2024 J-GAAP
Revision Rate － － +16.2% -3.9% -3.9%

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 21,239 ー 3,420 2,274 129.3 45 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance ー ー 3,982 3,077 173.8 45 Nov 8, 2024 J-GAAP
YoY － － +16.4% +35.3% +34.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 46,861 ー 4,935 3,295 185.4 70 May 11, 2023 J-GAAP
Mar, 2024 42,734 ー 6,597 4,541 258.2 80 May 10, 2024 J-GAAP
Mar, 2025 Guidance ー ー 7,700 5,000 282.4 90 May 10, 2024 J-GAAP
YoY － － +16.7% +10.1% +9.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 10,014 ー 2,379 1,670 95.1 0.0 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 9,273 ー 1,390 952 54.2 0.0 Jan 30, 2024 J-GAAP
Jan - Mar, 2024 11,966 ー 2,030 1,322 75.2 0.0 May 10, 2024 J-GAAP
Apr - Jun, 2024 12,870 ー 2,361 1,687 95.7 0.0 Jul 30, 2024 J-GAAP
Jul - Sep, 2024 13,507 ー 1,357 236 13.4 0.0 Nov 8, 2024 J-GAAP
YoY +34.9% － -43.0% -85.9% -85.9%

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