Fukuoka Financial Group, Inc., The Current Fiscal Year Ordinary Profit Revised Upward by 6%, Exceeded record profit forecast, Dividend Revised Upward by 5 yen

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Mon Nov 11, 2024 3:30 pm JST Earnings

8354 Fukuoka Financial Group, Inc. 【J-GAAP】

Earnings Report

Fukuoka Financial Group, Inc. <8354> [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) increased by 25.1% from the same period last year, reaching 55.6 billion yen, exceeded the previous forecast of 46.5 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 6.0%, from the previous forecast of 99.5 billion yen to 105 billion yen (compared to 56.9 billion yen in the previous period), increasing the growth rate from 74.8% to 85.3%. The company has further increased its previous forecast of record profits for the first time in three years.

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 surge by 4.0 times that of the same period last year, reaching 49.8 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 130 yen to 135 yen (compared to 115 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 21.5% from the same period last year, reaching 24.9 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	154,093	ー	44,297	30,760	163.0	88.5	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	194,469	ー	44,456	30,287	161.4	78.1	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	224,887	ー	55,633	39,180	207.2	52.7	Nov 11, 2024	J-GAAP
YoY	+15.6%	－	+25.1%	+29.4%	+28.4%

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	46,500	32,500	171.9	65	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	224,887	ー	55,633	39,180	207.2	65	Nov 11, 2024	J-GAAP
Revision Rate	－	－	+19.6%	+20.6%	+20.5%

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	99,500	68,500	362.3	130	May 13, 2024	J-GAAP
Mar, 2025 New	ー	ー	105,500	72,000	380.8	135	Nov 11, 2024	J-GAAP
Revision Rate	－	－	+6.0%	+5.1%	+5.1%

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	210,274	ー	12,481	30,891	164.0	57.50	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	ー	ー	49,867	32,820	173.6	70	Nov 11, 2024	J-GAAP
YoY	－	－	+299.5%	+6.2%	+5.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	331,323	ー	50,050	31,152	165.5	105	May 12, 2023	J-GAAP
Mar, 2024	404,743	ー	56,937	61,178	324.8	115	May 13, 2024	J-GAAP
Mar, 2025 Guidance	ー	ー	105,500	72,000	380.8	135	Nov 11, 2024	J-GAAP
YoY	－	－	+85.3%	+17.7%	+17.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	100,298	ー	20,549	13,678	72.9	0.0	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	101,443	ー	14,993	31,805	169.0	0.0	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	108,831	ー	-2,512	-914	-4.9	0.0	May 13, 2024	J-GAAP
Apr - Jun, 2024	109,094	ー	30,674	20,918	110.6	0.0	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	115,793	ー	24,959	18,262	96.6	0.0	Nov 11, 2024	J-GAAP
YoY	+15.4%	－	+21.5%	+33.5%	+32.6%