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THE OITA BANK, LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 4%

Mon Nov 11, 2024 2:30 pm JST Earnings

8392 THE OITA BANK, LTD. 【J-GAAP】

Earnings Report

THE OITA BANK, LTD. <8392> [TSE-P] announced its financial results in the afternoon session on November 11th (14:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 21.2% from the same period last year, reaching 5.34 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 4.3%, from the previous forecast of 9.4 billion yen to 9.8 billion yen (compared to 9.08 billion yen in the previous period), increasing the growth rate from 3.5% to 7.9%.

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 4.6% from the same period last year to 4.45 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 436 million yen, a 68.4% 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 38,017 4,464 2,845 180.4 57.3 Nov 14, 2022 J-GAAP
Apr - Sep, 2023 37,331 4,411 3,210 203.3 48.6 Nov 13, 2023 J-GAAP
Apr - Sep, 2024 38,850 5,345 3,713 237.0 54.5 Nov 11, 2024 J-GAAP
YoY +4.1% +21.2% +15.7% +16.6%

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 38,800 5,300 3,700 237.7 50 Oct 28, 2024 J-GAAP
Apr - Sep, 2024 Results 38,850 5,345 3,713 237.0 50 Nov 11, 2024 J-GAAP
Revision Rate +0.1% +0.8% +0.4% -0.3%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 68,100 9,400 6,600 433.0 100 May 13, 2024 J-GAAP
Mar, 2025 New 74,500 9,800 6,800 446.1 100 Nov 11, 2024 J-GAAP
Revision Rate +9.4% +4.3% +3.0% +3.0%

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 35,909 4,672 3,326 210.6 50 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 35,650 4,455 3,087 202.5 50 Nov 11, 2024 J-GAAP
YoY -0.7% -4.6% -7.2% -3.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 72,905 7,796 5,409 342.8 90 May 12, 2023 J-GAAP
Mar, 2024 73,240 9,083 6,536 413.8 95 May 13, 2024 J-GAAP
Mar, 2025 Guidance 74,500 9,800 6,800 446.1 100 Nov 11, 2024 J-GAAP
YoY +1.7% +7.9% +4.0% +7.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 18,044 1,380 925 58.6 0.0 Nov 13, 2023 J-GAAP
Oct - Dec, 2023 16,000 2,398 1,766 111.8 0.0 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 19,909 2,274 1,560 98.8 0.0 May 13, 2024 J-GAAP
Apr - Jun, 2024 19,563 4,909 3,443 219.2 0.0 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 19,287 436 270 17.2 0.0 Nov 11, 2024 J-GAAP
YoY +6.9% -68.4% -70.8% -70.6%

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