THE SHIMIZU BANK,LTD., First Half Ordinary Profit Increases by 11 times

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Fri Nov 8, 2024 3:30 pm JST Earnings

8364 THE SHIMIZU BANK,LTD. 【J-GAAP】

Earnings Report

THE SHIMIZU BANK,LTD. <8364> [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) surged by 11 times that of the same period last year, reaching 1.46 billion yen, exceeded the previous forecast of 1 billion yen.

However, The progress rate against the 2.2 billion yen full-year plan was 66.5%, below the five-year average of 95.7%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to March period (second half) is expected to turn into a profit of 738 million yen (compared to a loss of 4.26 billion yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a profit of profit of 221 million yen (compared to a loss of 1.18 billion yen in 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	14,293	ー	2,057	1,482	128.0	128.9	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	15,724	ー	135	178	15.5	ー	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	14,607	ー	1,462	1,240	107.5	66.5	Nov 8, 2024	J-GAAP
YoY	-7.1%	－	+983.0%	+596.6%	+595.1%

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	13,800	ー	1,000	900	77.8	30	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	14,607	ー	1,462	1,240	107.5	30	Nov 8, 2024	J-GAAP
Revision Rate	+5.8%	－	+46.2%	+37.8%	+38.2%

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	14,180	ー	-4,266	-3,479	-301.6	25	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	13,093	ー	738	560	49.6	30	Nov 8, 2024	J-GAAP
YoY	-7.7%	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	28,403	ー	1,596	1,474	127.6	60	May 12, 2023	J-GAAP
Mar, 2024	29,904	ー	-4,131	-3,301	-286.1	55	May 10, 2024	J-GAAP
Mar, 2025 Guidance	27,700	ー	2,200	1,800	159.5	60	May 10, 2024	J-GAAP
YoY	-7.4%	－	－	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	6,903	ー	-1,184	-939	-81.6	0.0	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	7,457	ー	906	702	60.9	0.0	Jan 29, 2024	J-GAAP
Jan - Mar, 2024	6,723	ー	-5,172	-4,181	-362.4	0.0	May 10, 2024	J-GAAP
Apr - Jun, 2024	7,841	ー	1,241	914	79.2	0.0	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	6,766	ー	221	326	28.3	0.0	Nov 8, 2024	J-GAAP
YoY	-2.0%	－	－	－	－