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The Kita-Nippon Bank,Ltd., The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 32% Increase

Tue Nov 12, 2024 3:00 pm JST Earnings

8551 The Kita-Nippon Bank,Ltd. 【J-GAAP】

Earnings Report

The Kita-Nippon Bank,Ltd. <8551> [TSE-P] announced its financial results in the afternoon session on November 12th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 2.0 times that of the same period last year, reaching 2.97 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 38.5%, from the previous forecast of 3.9 billion yen to 5.4 billion yen (compared to 4.09 billion yen in the previous period), turning to a 31.8% 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 decrease by 8.3% from the same period last year to 2.42 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged to 2.9 times that of the same period last year, reaching 1.35 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 11,920 ー 2,381 1,654 197.2 68.0 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 14,893 ー 1,456 893 106.2 35.5 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 12,976 ー 2,977 2,266 268.3 55.1 Nov 12, 2024 J-GAAP
YoY -12.9% － +104.5% +153.8% +152.7%

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 12,900 ー 2,800 2,200 260.0 40 Oct 30, 2024 J-GAAP
Apr - Sep, 2024 Results 12,976 ー 2,977 2,266 268.3 40 Nov 12, 2024 J-GAAP
Revision Rate +0.6% － +6.3% +3.0% +3.2%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 23,300 ー 3,900 2,800 330.9 80 May 14, 2024 J-GAAP
Mar, 2025 New 25,900 ー 5,400 3,800 449.1 80 Nov 12, 2024 J-GAAP
Revision Rate +11.2% － +38.5% +35.7% +35.7%

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 14,124 ー 2,642 2,180 258.7 50 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 12,924 ー 2,423 1,534 181.3 40 Nov 12, 2024 J-GAAP
YoY -8.5% － -8.3% -29.6% -29.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 23,638 ー 3,500 2,659 316.7 60 May 12, 2023 J-GAAP
Mar, 2024 29,017 ー 4,098 3,073 364.6 80 May 14, 2024 J-GAAP
Mar, 2025 Guidance 25,900 ー 5,400 3,800 449.1 80 Nov 12, 2024 J-GAAP
YoY -10.7% － +31.8% +23.7% +23.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 7,760 ー 471 247 29.4 0.0 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 6,678 ー 1,922 1,320 156.7 0.0 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 7,446 ー 720 860 102.0 0.0 May 14, 2024 J-GAAP
Apr - Jun, 2024 6,343 ー 1,626 1,112 131.9 0.0 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 6,633 ー 1,351 1,154 136.6 0.0 Nov 12, 2024 J-GAAP
YoY -14.5% － +186.8% +367.2% +365.3%

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