THE TOHOKU BANK,LTD., First Half Ordinary Profit Decreases by 7%, July-September Ordinary Profit Decreases by 59%

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Mon Nov 11, 2024 1:00 pm JST Earnings

8349 THE TOHOKU BANK,LTD. 【J-GAAP】

Earnings Report

THE TOHOKU BANK,LTD. <8349> [TSE-S] announced its financial results in the afternoon session on November 11th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 7.5% from the same period last year to 979 million yen. The progress rate against the 2.3 billion yen full-year plan was 42.6%, also falling below the five-year average of 61.3%.

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 grow by 21.2% from the same period last year, reaching 1.32 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 244 million yen, a 58.6% 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	6,780	ー	1,454	1,067	112.4	58.0	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	7,823	ー	1,058	676	71.2	49.3	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	7,359	ー	979	648	68.2	42.6	Nov 11, 2024	J-GAAP
YoY	-5.9%	－	-7.5%	-4.1%	-4.2%

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	7,000	ー	900	600	63.1	25	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	7,359	ー	979	648	68.2	25	Nov 11, 2024	J-GAAP
Revision Rate	+5.1%	－	+8.8%	+8.0%	+8.0%

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	6,904	ー	1,090	700	73.6	25	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	6,941	ー	1,321	852	89.7	25	Nov 11, 2024	J-GAAP
YoY	+0.5%	－	+21.2%	+21.7%	+21.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	13,481	ー	2,505	1,526	160.8	50	May 12, 2023	J-GAAP
Mar, 2024	14,727	ー	2,148	1,376	144.7	50	May 14, 2024	J-GAAP
Mar, 2025 Guidance	14,300	ー	2,300	1,500	157.8	50	May 14, 2024	J-GAAP
YoY	-2.9%	－	+7.1%	+9.0%	+9.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,488	ー	590	361	38.0	0.0	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	3,418	ー	388	268	28.2	0.0	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	3,486	ー	702	432	45.4	0.0	May 14, 2024	J-GAAP
Apr - Jun, 2024	3,640	ー	735	510	53.8	0.0	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	3,719	ー	244	138	14.5	0.0	Nov 11, 2024	J-GAAP
YoY	+6.6%	－	-58.6%	-61.8%	-61.8%