The Hachijuni Bank, Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 26%, Highest in Nine Terms, Dividend Revised Upward by 8 yen

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Fri Nov 8, 2024 3:30 pm JST Earnings

8359 The Hachijuni Bank, Ltd. 【J-GAAP】

Earnings Report

The Hachijuni Bank, Ltd. <8359> [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) expanded to 26.7 billion yen, an increase of 56.4% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward by 25.6%, from the previous forecast of 45 billion yen to 56.5 billion yen (compared to 35.2 billion yen in the previous period), increasing the growth rate from 27.8% to 60.4%, reaches new record high for the first time in nine terms.

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 64.2% from the same period last year, reaching 29.7 billion yen.

In light of the strong performance, the company has significantly increased its planned annual dividend for the current fiscal year from the original plan of 26 yen to 34 yen (compared to 24 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 90.3% from the same period last year, reaching 9.82 billion yen.

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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	97,835	ー	20,428	13,120	27.0	58.5	Oct 28, 2022	J-GAAP
Apr - Sep, 2023	102,725	ー	17,076	26,485	54.5	48.5	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	115,069	ー	26,715	19,514	40.6	47.3	Nov 8, 2024	J-GAAP
YoY	+12.0%	－	+56.4%	-26.3%	-25.4%

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	26,500	19,500	40.9	13	Oct 31, 2024	J-GAAP
Apr - Sep, 2024 Results	115,069	ー	26,715	19,514	40.6	13	Nov 8, 2024	J-GAAP
Revision Rate	－	－	+0.8%	+0.1%	-0.6%

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	45,000	31,000	67.2	26	May 10, 2024	J-GAAP
Mar, 2025 New	ー	ー	56,500	40,000	86.7	34	Nov 8, 2024	J-GAAP
Revision Rate	－	－	+25.6%	+29.0%	+29.0%

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	109,476	ー	18,141	10,586	21.8	14	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	ー	ー	29,785	20,486	44.4	21	Nov 8, 2024	J-GAAP
YoY	－	－	+64.2%	+93.5%	+103.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	198,009	ー	34,893	24,135	49.9	20	Apr 28, 2023	J-GAAP
Mar, 2024	212,201	ー	35,217	37,071	76.4	24	May 10, 2024	J-GAAP
Mar, 2025 Guidance	ー	ー	56,500	40,000	86.7	34	Nov 8, 2024	J-GAAP
YoY	－	－	+60.4%	+7.9%	+13.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	54,419	ー	5,163	435	0.9	0.0	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	53,395	ー	10,716	6,366	13.1	0.0	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	56,081	ー	7,425	4,220	8.7	0.0	May 10, 2024	J-GAAP
Apr - Jun, 2024	60,329	ー	16,889	12,048	25.0	0.0	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	54,740	ー	9,826	7,466	15.6	0.0	Nov 8, 2024	J-GAAP
YoY	+0.6%	－	+90.3%	+1,616.3%	+1,647.2%