The Fukui Bank, Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 41%, Dividend Revised Upward by 2.5 yen

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Fri Nov 8, 2024 3:30 pm JST Earnings

8362 The Fukui Bank, Ltd. 【J-GAAP】

Earnings Report

The Fukui Bank, Ltd. <8362> [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 2.2 times that of the same period last year, reaching 6.27 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 40.7%, from the previous forecast of 5.9 billion yen to 8.3 billion yen (compared to 5.61 billion yen in the previous period), increasing the growth rate from 5.1% to 47.8%.

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 decrease by 27.5% from the same period last year to 2.02 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 50 yen to 52.5 yen (compared to 50 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 28.2% from the same period last year, reaching 1.92 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	25,653	ー	2,941	1,970	84.1	373.2	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	25,577	ー	2,816	1,762	76.4	50.2	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	31,567	ー	6,271	5,408	238.1	75.6	Nov 8, 2024	J-GAAP
YoY	+23.4%	－	+122.7%	+206.9%	+211.5%

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	6,200	5,400	228.6	25	Oct 25, 2024	J-GAAP
Apr - Sep, 2024 Results	31,567	ー	6,271	5,408	238.1	25	Nov 8, 2024	J-GAAP
Revision Rate	－	－	+1.1%	+0.1%	+4.2%

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	5,900	4,000	169.2	50	May 10, 2024	J-GAAP
Mar, 2025 New	ー	ー	8,300	6,500	275.0	52.50	Nov 8, 2024	J-GAAP
Revision Rate	－	－	+40.7%	+62.5%	+62.5%

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	29,846	ー	2,799	1,955	84.7	25	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	ー	ー	2,029	1,092	46.2	27.50	Nov 8, 2024	J-GAAP
YoY	－	－	-27.5%	-44.1%	-45.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	54,897	ー	788	1,803	77.1	50	May 12, 2023	J-GAAP
Mar, 2024	55,423	ー	5,615	3,717	161.0	50	May 10, 2024	J-GAAP
Mar, 2025 Guidance	ー	ー	8,300	6,500	275.0	52.50	Nov 8, 2024	J-GAAP
YoY	－	－	+47.8%	+74.9%	+70.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	13,817	ー	1,500	915	39.7	0.0	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	15,611	ー	1,651	1,085	47.0	0.0	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	14,235	ー	1,148	870	37.7	0.0	May 10, 2024	J-GAAP
Apr - Jun, 2024	15,385	ー	4,348	4,174	182.7	0.0	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	16,182	ー	1,923	1,234	54.3	0.0	Nov 8, 2024	J-GAAP
YoY	+17.1%	－	+28.2%	+34.9%	+36.9%