Shizuoka Financial Group,Inc., The Current Fiscal Year Ordinary Profit Revised Upward by 9%, Dividend Revised Upward by 2 yen

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Fri Nov 8, 2024 3:30 pm JST Earnings

5831 Shizuoka Financial Group,Inc. 【J-GAAP】

Earnings Report

Shizuoka Financial Group,Inc. <5831> [TSE-P] announced its financial results after the market closed on November 8th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 10.0% from the same period last year to 49.8 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 9.1%, from the previous forecast of 88 billion yen to 96 billion yen (compared to 102 billion yen in the previous period), and the declining rate is expected to decrease from 13.9% to 6.1%.

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 1.4% from the same period last year to 46.1 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 48 yen to 50 yen (compared to 39 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 20.8 billion yen, a 35.1% 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	139,362	ー	38,915	28,208	50.0	52.6	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	179,508	ー	55,429	24,754	44.6	54.2	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	162,260	ー	49,881	34,818	63.4	52.0	Nov 8, 2024	J-GAAP
YoY	-9.6%	－	-10.0%	+40.7%	+42.1%

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	42,000	29,000	52.8	24	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	162,260	ー	49,881	34,818	63.4	25	Nov 8, 2024	J-GAAP
Revision Rate	－	－	+18.8%	+20.1%	+20.0%

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	88,000	60,000	110.4	48	May 10, 2024	J-GAAP
Mar, 2025 New	ー	ー	96,000	66,000	121.5	50	Nov 8, 2024	J-GAAP
Revision Rate	－	－	+9.1%	+10.0%	+10.0%

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	167,018	ー	46,795	33,006	59.5	22	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	ー	ー	46,119	31,182	57.4	25	Nov 8, 2024	J-GAAP
YoY	－	－	-1.4%	-5.5%	-3.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	287,386	ー	73,964	52,397	92.9	30	May 11, 2023	J-GAAP
Mar, 2024	346,526	ー	102,224	57,760	104.2	39	May 10, 2024	J-GAAP
Mar, 2025 Guidance	ー	ー	96,000	66,000	121.5	50	Nov 8, 2024	J-GAAP
YoY	－	－	-6.1%	+14.3%	+16.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	97,118	ー	32,136	8,284	14.9	0.0	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	77,586	ー	20,412	15,316	27.6	0.0	Feb 1, 2024	J-GAAP
Jan - Mar, 2024	89,432	ー	26,383	17,690	31.9	0.0	May 10, 2024	J-GAAP
Apr - Jun, 2024	84,914	ー	29,009	20,970	38.2	0.0	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	77,346	ー	20,872	13,848	25.2	0.0	Nov 8, 2024	J-GAAP
YoY	-20.4%	－	-35.1%	+67.2%	+68.9%