The Chikuho Bank, Ltd., The Current Fiscal Year Ordinary Profit Revised Downward by 0.4％

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Fri Nov 8, 2024 3:30 pm JST Earnings

8398 The Chikuho Bank, Ltd. 【J-GAAP】

Earnings Report

The Chikuho Bank, Ltd. <8398> [FukuokaSE] 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) dropped by 39.5% from the same period last year to 462 million yen.

In addition, the full-year consolidated ordinary profit has downwardly by 0.4%, from the previous forecast of 1.26 billion yen to 1.26 billion yen (compared to 1.18 billion yen in the previous period), leading to a reduction in the profit growth rate from 7.0% to 6.6%.

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 expand by 90.9% from the same period last year, reaching 798 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 193 million yen, a 26.9% 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	8,708	ー	928	600	98.9	91.4	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	8,795	ー	764	570	93.8	64.6	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	8,969	ー	462	342	56.3	36.7	Nov 8, 2024	J-GAAP
YoY	+2.0%	－	-39.5%	-40.0%	-39.9%

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	8,820	ー	500	315	51.8	25	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	8,969	ー	462	342	56.3	25	Nov 8, 2024	J-GAAP
Revision Rate	+1.7%	－	-7.6%	+8.6%	+8.8%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	17,985	ー	1,265	910	149.6	50	May 10, 2024	J-GAAP
Mar, 2025 New	18,630	ー	1,260	910	149.6	50	Nov 8, 2024	J-GAAP
Revision Rate	+3.6%	－	-0.4%	0.0%	0.0%

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	9,228	ー	418	486	80.0	25	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	9,661	ー	798	568	93.4	25	Nov 8, 2024	J-GAAP
YoY	+4.7%	－	+90.9%	+16.9%	+16.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	17,290	ー	1,015	603	99.4	50	May 12, 2023	J-GAAP
Mar, 2024	18,023	ー	1,182	1,056	173.9	50	May 10, 2024	J-GAAP
Mar, 2025 Guidance	18,630	ー	1,260	910	149.6	50	Nov 8, 2024	J-GAAP
YoY	+3.4%	－	+6.6%	-13.8%	-13.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	4,350	ー	264	281	46.2	0.0	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	4,805	ー	840	642	105.6	0.0	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	4,423	ー	-422	-156	-25.7	0.0	May 10, 2024	J-GAAP
Apr - Jun, 2024	4,606	ー	269	272	44.8	0.0	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	4,363	ー	193	70	11.5	0.0	Nov 8, 2024	J-GAAP
YoY	+0.3%	－	-26.9%	-75.1%	-75.1%