Rakuten Bank, Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 22%, Adds to Record High Profit Forecast

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Mon Nov 11, 2024 3:35 pm JST Earnings

5838 Rakuten Bank, Ltd. 【J-GAAP】

Earnings Report

Rakuten Bank, Ltd. <5838> [TSE-P] announced its financial results after the market closed on November 11th (15:35). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 31 billion yen, an increase of 37.9% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward by 22.2%, from the previous forecast of 53.2 billion yen to 65 billion yen (compared to 48.3 billion yen in the previous period), increasing the growth rate from 10.1% to 34.6%, further surpassing the previous forecast of record-high profits for five consecutive terms.

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 expand by 31.6% from the same period last year, reaching 33.9 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 41.6% from the same period last year, reaching 15.8 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, 2023	65,921	ー	22,545	16,097	93.3	46.6	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	83,656	ー	31,089	22,145	126.9	47.8	Nov 11, 2024	J-GAAP
YoY	+26.9%	－	+37.9%	+37.6%	+36.1%

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	ー	ー	－	0	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	83,656	ー	31,089	22,145	126.9	0	Nov 11, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	162,505	ー	53,266	37,800	216.6	0	May 13, 2024	J-GAAP
Mar, 2025 New	178,592	ー	65,083	46,244	265.0	0	Nov 11, 2024	J-GAAP
Revision Rate	+9.9%	－	+22.2%	+22.3%	+22.3%

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	72,029	ー	25,822	18,339	105.7	0	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	94,936	ー	33,994	24,099	138.1	0	Nov 11, 2024	J-GAAP
YoY	+31.8%	－	+31.6%	+31.4%	+30.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	120,445	ー	38,746	27,692	168.4	0	May 10, 2023	J-GAAP
Mar, 2024	137,950	ー	48,367	34,436	198.4	0	May 13, 2024	J-GAAP
Mar, 2025 Guidance	178,592	ー	65,083	46,244	265.0	0	Nov 11, 2024	J-GAAP
YoY	+29.5%	－	+34.6%	+34.3%	+33.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	33,286	ー	11,176	8,010	46.4	0.0	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	35,155	ー	12,691	8,980	51.8	0.0	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	36,874	ー	13,131	9,359	53.9	0.0	May 13, 2024	J-GAAP
Apr - Jun, 2024	40,815	ー	15,261	10,921	62.6	0.0	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	42,841	ー	15,828	11,224	64.3	0.0	Nov 11, 2024	J-GAAP
YoY	+28.7%	－	+41.6%	+40.1%	+38.6%