Hokuhoku Financial Group, Inc., First Half Ordinary Profit Increases by 81%, Current Fiscal Year Dividend Revised Upward by 2.5 yen

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Mon Nov 11, 2024 3:30 pm JST Earnings

8377 Hokuhoku Financial Group, Inc. 【J-GAAP】

Earnings Report

Hokuhoku Financial Group, Inc. <8377> [TSE-P] announced its financial results after the market closed on November 11th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 25.5 billion yen, an increase of 81.1% compared to the same period last year. The progress rate against the 38 billion yen full-year plan was 67.2%, also surpassing the five-year average of 58.0%.

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 expand by 35.8% from the same period last year, reaching 12.4 billion yen.

At the same time, the company has increased its planned annual dividend for the current fiscal year from the original plan of 40 yen to 42.5 yen (compared to 40 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged to 2.1 times that of the same period last year, reaching 13.9 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	96,991	ー	14,545	9,306	68.3	55.1	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	96,151	ー	14,110	16,092	124.0	60.6	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	99,209	ー	25,550	18,602	147.4	67.2	Nov 11, 2024	J-GAAP
YoY	+3.2%	－	+81.1%	+15.6%	+18.9%

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	25,500	18,500	150.7	20	Nov 5, 2024	J-GAAP
Apr - Sep, 2024 Results	99,209	ー	25,550	18,602	147.4	22.50	Nov 11, 2024	J-GAAP
Revision Rate	－	－	+0.2%	+0.6%	-2.2%

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	38,000	25,000	201.2	40	May 10, 2024	J-GAAP
Mar, 2025 New	ー	ー	38,000	25,000	201.2	42.50	Nov 11, 2024	J-GAAP
Revision Rate	－	－	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	93,953	ー	9,168	6,956	53.4	40	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	ー	ー	12,450	6,398	51.5	20	Nov 11, 2024	J-GAAP
YoY	－	－	+35.8%	-8.0%	-3.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	187,883	ー	26,392	21,435	159.2	37	May 10, 2023	J-GAAP
Mar, 2024	190,104	ー	23,278	23,048	177.0	40	May 10, 2024	J-GAAP
Mar, 2025 Guidance	ー	ー	38,000	25,000	201.2	42.50	Nov 11, 2024	J-GAAP
YoY	－	－	+63.2%	+8.5%	+13.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	52,056	ー	6,686	11,554	89.0	0.0	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	48,915	ー	5,711	4,890	38.1	0.0	Jan 30, 2024	J-GAAP
Jan - Mar, 2024	45,038	ー	3,457	2,066	15.9	0.0	May 10, 2024	J-GAAP
Apr - Jun, 2024	46,754	ー	11,599	7,459	60.1	0.0	Jul 29, 2024	J-GAAP
Jul - Sep, 2024	52,455	ー	13,951	11,143	88.3	0.0	Nov 11, 2024	J-GAAP
YoY	+0.8%	－	+108.7%	-3.6%	-0.8%