The Chiba Kogyo Bank, Ltd., The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 4% Increase

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Tue Nov 12, 2024 1:30 pm JST Earnings

8337 The Chiba Kogyo Bank, Ltd. 【J-GAAP】

Earnings Report

The Chiba Kogyo Bank, Ltd. <8337> [TSE-P] announced its financial results in the afternoon session on November 12th (13:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was 5.96 billion yen, a 0.7% decrease compared to the same period last year.

However, the full-year consolidated ordinary profit has been revised upward by 15.1%, from the previous forecast of 9.3 billion yen to 10.7 billion yen (compared to 10.2 billion yen in the previous period), turning to a 4.4% increase in the consolidated ordinary profit outlook.

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 grow by 11.5% from the same period last year, reaching 4.73 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 24.0% from the same period last year, reaching 3.12 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	27,867	ー	6,393	4,777	80.6	66.1	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	27,957	ー	6,003	4,387	76.7	58.6	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	28,482	ー	5,963	4,051	70.5	55.7	Nov 12, 2024	J-GAAP
YoY	+1.9%	－	-0.7%	-7.7%	-8.0%

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	5,800	4,000	69.8	0	Sep 27, 2024	J-GAAP
Apr - Sep, 2024 Results	28,482	ー	5,963	4,051	70.5	0	Nov 12, 2024	J-GAAP
Revision Rate	－	－	+2.8%	+1.3%	+1.0%

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	9,300	5,700	84.8	10	May 14, 2024	J-GAAP
Mar, 2025 New	ー	ー	10,700	7,000	107.5	10	Nov 12, 2024	J-GAAP
Revision Rate	－	－	+15.1%	+22.8%	+26.8%

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	26,627	ー	4,247	3,041	46.1	10	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	ー	ー	4,737	2,949	45.3	10	Nov 12, 2024	J-GAAP
YoY	－	－	+11.5%	-3.0%	-1.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	51,303	ー	9,671	6,477	92.1	5	May 12, 2023	J-GAAP
Mar, 2024	54,584	ー	10,250	7,428	112.6	10	May 14, 2024	J-GAAP
Mar, 2025 Guidance	ー	ー	10,700	7,000	107.5	10	Nov 12, 2024	J-GAAP
YoY	－	－	+4.4%	-5.8%	-4.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	12,750	ー	2,523	2,002	35.0	0.0	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	12,477	ー	2,417	1,660	29.0	0.0	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	14,150	ー	1,830	1,381	20.9	0.0	May 14, 2024	J-GAAP
Apr - Jun, 2024	13,964	ー	2,835	2,160	37.5	0.0	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	14,518	ー	3,128	1,891	32.9	0.0	Nov 12, 2024	J-GAAP
YoY	+13.9%	－	+24.0%	-5.5%	-5.9%