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The Miyazaki Taiyo Bank, Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 31%

Mon Nov 11, 2024 1:30 pm JST Earnings

8560 The Miyazaki Taiyo Bank, Ltd. 【J-GAAP】

Earnings Report

The Miyazaki Taiyo Bank, Ltd. <8560> [FukuokaSE] announced its financial results in the afternoon session on November 11th (13:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 11.5% from the same period last year to 1.23 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 30.8%, from the previous forecast of 1.3 billion yen to 1.7 billion yen (compared to 2.45 billion yen in the previous period), and the declining rate is expected to decrease from 47.1% to 30.8%.

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 significant drop by 56.2% from the same period last year to 465 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 426 million yen, a 30.3% decrease compared to the same period last year.

Kabutan News

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 7,235 1,421 1,164 195.5 65.4 Nov 10, 2022 J-GAAP
Apr - Sep, 2023 7,580 1,395 1,120 202.0 56.8 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 7,352 1,235 869 154.6 72.6 Nov 11, 2024 J-GAAP
YoY -3.0% -11.5% -22.4% -23.5%

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 7,300 1,200 800 151.3 25 Nov 5, 2024 J-GAAP
Apr - Sep, 2024 Results 7,352 1,235 869 154.6 25 Nov 11, 2024 J-GAAP
Revision Rate +0.7% +2.9% +8.6% +2.1%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 13,200 1,300 800 131.3 50 May 13, 2024 J-GAAP
Mar, 2025 New 14,000 1,700 1,100 188.0 50 Nov 11, 2024 J-GAAP
Revision Rate +6.1% +30.8% +37.5% +43.2%

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 7,035 1,062 643 114.4 25 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 6,648 465 231 39.5 25 Nov 11, 2024 J-GAAP
YoY -5.5% -56.2% -64.1% -65.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 14,373 2,174 1,550 273.4 50 May 12, 2023 J-GAAP
Mar, 2024 14,615 2,457 1,763 313.7 50 May 13, 2024 J-GAAP
Mar, 2025 Guidance 14,000 1,700 1,100 188.0 50 Nov 11, 2024 J-GAAP
YoY -4.2% -30.8% -37.6% -40.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 3,758 611 533 96.1 0.0 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 3,737 579 346 63.1 0.0 Feb 6, 2024 J-GAAP
Jan - Mar, 2024 3,298 483 297 52.8 0.0 May 13, 2024 J-GAAP
Apr - Jun, 2024 3,701 809 551 104.4 0.0 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 3,651 426 318 56.6 0.0 Nov 11, 2024 J-GAAP
YoY -2.8% -30.3% -40.3% -41.2%

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