THE SHIMANE BANK,LTD., July-September (2Q) Ordinary Profit Decreases by 40%

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Tue Nov 12, 2024 3:30 pm JST Earnings

7150 THE SHIMANE BANK,LTD. 【J-GAAP】

Earnings Report

THE SHIMANE BANK,LTD. <7150> [TSE-S] announced its financial results after the market closed on November 12th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 605 million yen, an increase of 60.5% compared to the same period last year. The progress rate against the 620 million yen full-year plan was 97.6%, also surpassing the five-year average of 93.1%.

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 significant drop by 90.3% from the same period last year to 15 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 151 million yen, a 40.1% 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	4,078	ー	318	274	32.4	76.6	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	4,371	ー	377	290	28.4	71.0	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	5,206	ー	605	502	54.0	97.6	Nov 12, 2024	J-GAAP
YoY	+19.1%	－	+60.5%	+73.1%	+90.1%

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	5,200	ー	600	500	60.5	5	Nov 6, 2024	J-GAAP
Apr - Sep, 2024 Results	5,206	ー	605	502	54.0	5	Nov 12, 2024	J-GAAP
Revision Rate	+0.1%	－	+0.8%	+0.4%	-10.7%

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	4,832	ー	154	129	11.5	5	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	3,764	ー	15	18	1.7	5	Nov 12, 2024	J-GAAP
YoY	-22.1%	－	-90.3%	-86.0%	-85.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	8,075	ー	415	418	46.0	10	May 15, 2023	J-GAAP
Mar, 2024	9,203	ー	531	419	37.4	10	May 13, 2024	J-GAAP
Mar, 2025 Guidance	8,970	ー	620	520	49.6	10	May 13, 2024	J-GAAP
YoY	-2.5%	－	+16.8%	+24.1%	+32.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,282	ー	252	175	17.1	0.0	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	2,232	ー	236	204	22.0	0.0	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	2,600	ー	-82	-75	-6.7	0.0	May 13, 2024	J-GAAP
Apr - Jun, 2024	2,605	ー	454	370	44.8	0.0	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	2,601	ー	151	132	14.2	0.0	Nov 12, 2024	J-GAAP
YoY	+14.0%	－	-40.1%	-24.6%	-17.2%