Tsukuba Bank, Ltd., July-September (2Q) Ordinary Profit Decreases by 47%

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Fri Nov 8, 2024 3:30 pm JST Earnings

8338 Tsukuba Bank, Ltd. 【J-GAAP】

Earnings Report

Tsukuba Bank, Ltd. <8338> [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) increased by 5.8% from the same period last year, reaching 2.23 billion yen. The progress rate against the 4.4 billion yen full-year plan was 50.8%, it was below the five-year average of 80.9%.

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 surge by 6.1 times that of the same period last year, reaching 2.16 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 513 million yen, a 47.4% 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	18,570	ー	2,704	2,258	27.4	153.5	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	20,623	ー	2,114	1,930	23.4	85.7	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	20,301	ー	2,236	1,946	23.6	50.8	Nov 8, 2024	J-GAAP
YoY	-1.6%	－	+5.8%	+0.8%	+0.8%

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	ー	ー	2,300	1,900	23.1	0	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	20,301	ー	2,236	1,946	23.6	0	Nov 8, 2024	J-GAAP
Revision Rate	－	－	-2.8%	+2.4%	+2.4%

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	20,469	ー	353	265	3.2	5	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	ー	ー	2,164	1,654	20.1	5	Nov 8, 2024	J-GAAP
YoY	－	－	+513.0%	+524.2%	+525.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	37,098	ー	1,762	2,095	25.4	5	May 12, 2023	J-GAAP
Mar, 2024	41,092	ー	2,467	2,195	26.6	5	May 10, 2024	J-GAAP
Mar, 2025 Guidance	ー	ー	4,400	3,600	43.7	5	May 10, 2024	J-GAAP
YoY	－	－	+78.4%	+64.0%	+64.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	10,882	ー	975	909	11.0	0.0	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	9,426	ー	967	758	9.2	0.0	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	11,043	ー	-614	-493	-6.0	0.0	May 10, 2024	J-GAAP
Apr - Jun, 2024	9,874	ー	1,723	1,384	16.8	0.0	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	10,427	ー	513	562	6.8	0.0	Nov 8, 2024	J-GAAP
YoY	-4.2%	－	-47.4%	-38.2%	-38.2%