Bank of The Ryukyus,Limited, First Half Ordinary Profit Decreases by 6%, July-September Ordinary Profit Decreases by 42%

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Tue Nov 12, 2024 1:00 pm JST Earnings

8399 Bank of The Ryukyus,Limited 【J-GAAP】

Earnings Report

Bank of The Ryukyus,Limited <8399> [TSE-P] announced its financial results in the afternoon session on November 12th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 5.8% from the same period last year to 5.07 billion yen. However, The progress rate against the 8.5 billion yen full-year plan was 59.7%, almost the same as the five-year average of 61.7%.

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 11.7% from the same period last year, reaching 3.42 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 2.15 billion yen, a 42.3% 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	29,208	ー	5,346	3,716	87.6	62.9	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	33,350	ー	5,385	3,866	92.9	63.7	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	34,559	ー	5,074	3,509	84.8	59.7	Nov 12, 2024	J-GAAP
YoY	+3.6%	－	-5.8%	-9.2%	-8.7%

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	5,074	3,509	84.9	19	Oct 24, 2024	J-GAAP
Apr - Sep, 2024 Results	34,559	ー	5,074	3,509	84.8	19	Nov 12, 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	32,601	ー	3,067	1,785	42.9	18.50	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	ー	ー	3,426	2,191	53.0	19	Oct 24, 2024	J-GAAP
YoY	－	－	+11.7%	+22.7%	+23.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	60,093	ー	8,499	5,896	139.4	35	May 12, 2023	J-GAAP
Mar, 2024	65,951	ー	8,452	5,651	135.7	37	May 10, 2024	J-GAAP
Mar, 2025 Guidance	ー	ー	8,500	5,700	137.8	38	May 10, 2024	J-GAAP
YoY	－	－	+0.6%	+0.9%	+1.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	17,670	ー	3,737	2,730	65.6	0.0	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	16,261	ー	1,204	725	17.4	0.0	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	16,340	ー	1,863	1,060	25.5	0.0	May 10, 2024	J-GAAP
Apr - Jun, 2024	17,769	ー	2,916	2,029	49.0	0.0	Aug 13, 2024	J-GAAP
Jul - Sep, 2024	16,790	ー	2,158	1,480	35.8	0.0	Nov 12, 2024	J-GAAP
YoY	-5.0%	－	-42.3%	-45.8%	-45.5%