THE TOCHIGI BANK,LTD., First Half Ordinary Profit Decreases by 41%, July-September Ordinary Profit Decreases by 84%

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Fri Nov 8, 2024 3:30 pm JST Earnings

8550 THE TOCHIGI BANK,LTD. 【J-GAAP】

Earnings Report

THE TOCHIGI BANK,LTD. <8550> [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) dropped by 41.1% from the same period last year to 2.03 billion yen. The progress rate against the 5.9 billion yen full-year plan was 34.5%, also falling below the five-year average of 58.4%.

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 5.0 times that of the same period last year, reaching 3.86 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 369 million yen, a 83.7% 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	24,186	ー	2,719	1,898	18.3	53.7	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	21,081	ー	3,457	1,843	17.8	81.6	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	22,135	ー	2,037	1,470	14.2	34.5	Nov 8, 2024	J-GAAP
YoY	+5.0%	－	-41.1%	-20.2%	-20.3%

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	22,130	ー	2,040	1,470	14.2	3.50	Oct 30, 2024	J-GAAP
Apr - Sep, 2024 Results	22,135	ー	2,037	1,470	14.2	3.50	Nov 8, 2024	J-GAAP
Revision Rate	+0.0%	－	-0.1%	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	24,195	ー	777	258	2.5	3	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	20,865	ー	3,863	2,130	20.6	3.50	Nov 8, 2024	J-GAAP
YoY	-13.8%	－	+397.2%	+725.6%	+725.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	45,222	ー	5,062	2,652	25.6	6	May 12, 2023	J-GAAP
Mar, 2024	45,276	ー	4,234	2,101	20.3	6	May 10, 2024	J-GAAP
Mar, 2025 Guidance	43,000	ー	5,900	3,600	34.7	7	May 10, 2024	J-GAAP
YoY	-5.0%	－	+39.3%	+71.3%	+71.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	10,923	ー	2,261	1,280	12.4	0.0	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	12,505	ー	100	-328	-3.2	0.0	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	11,690	ー	677	586	5.7	0.0	May 10, 2024	J-GAAP
Apr - Jun, 2024	10,706	ー	1,668	1,050	10.2	0.0	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	11,429	ー	369	420	4.1	0.0	Nov 8, 2024	J-GAAP
YoY	+4.6%	－	-83.7%	-67.2%	-67.2%