The Kiyo Bank, Ltd., First Half Ordinary Profit Increases by 9%, Current Fiscal Year Dividend Revised Upward by 40 yen

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Mon Nov 11, 2024 3:00 pm JST Earnings

8370 The Kiyo Bank, Ltd. 【J-GAAP】

Earnings Report

The Kiyo Bank, Ltd. <8370> [TSE-P] announced its financial results in the afternoon session on November 11th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 9.0% from the same period last year, reaching 10.4 billion yen. However, The progress rate against the 21.1 billion yen full-year plan was 49.4%, also falling below the five-year average of 96.7%.

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 1.0% from the same period last year, reaching 10.6 billion yen.

At the same time, the company has significantly increased its planned annual dividend for the current fiscal year from the original plan of 50 yen to 90 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 11.4% from the same period last year, reaching 5.29 billion yen.

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	42,720	ー	13,051	9,307	141.0	257.3	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	40,328	ー	9,570	6,532	100.0	47.5	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	45,804	ー	10,428	7,598	116.6	49.4	Nov 11, 2024	J-GAAP
YoY	+13.6%	－	+9.0%	+16.3%	+16.5%

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	43,200	ー	10,200	7,000	108.5	25	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	45,804	ー	10,428	7,598	116.6	45	Nov 11, 2024	J-GAAP
Revision Rate	+6.0%	－	+2.2%	+8.5%	+7.4%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	85,600	ー	21,100	14,500	226.5	50	May 13, 2024	J-GAAP
Mar, 2025 New	85,600	ー	21,100	14,500	226.5	90	Nov 11, 2024	J-GAAP
Revision Rate	0.0%	－	0.0%	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	44,454	ー	10,566	8,488	129.8	25	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	39,796	ー	10,672	6,902	107.8	45	Nov 11, 2024	J-GAAP
YoY	-10.5%	－	+1.0%	-18.7%	-16.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	84,449	ー	5,072	3,924	59.8	40	May 12, 2023	J-GAAP
Mar, 2024	84,782	ー	20,136	15,020	229.7	50	May 13, 2024	J-GAAP
Mar, 2025 Guidance	85,600	ー	21,100	14,500	226.5	90	Nov 11, 2024	J-GAAP
YoY	+1.0%	－	+4.8%	-3.5%	-1.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	20,626	ー	4,747	3,369	51.6	0.0	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	21,098	ー	5,658	3,533	54.1	0.0	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	23,356	ー	4,908	4,955	75.8	0.0	May 13, 2024	J-GAAP
Apr - Jun, 2024	23,707	ー	5,138	3,711	56.7	0.0	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	22,097	ー	5,290	3,887	59.6	0.0	Nov 11, 2024	J-GAAP
YoY	+7.1%	－	+11.4%	+15.4%	+15.6%