The Yamagata Bank, Ltd., July-September (2Q) Ordinary Profit Decreases by 67%

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Tue Nov 12, 2024 3:30 pm JST Earnings

8344 The Yamagata Bank, Ltd. 【J-GAAP】

Earnings Report

The Yamagata Bank, Ltd. <8344> [TSE-P] 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) increased by 15.4% from the same period last year, reaching 2.82 billion yen. The progress rate against the 4.8 billion yen full-year plan was 58.9%, almost the same as the five-year average of 61.8%.

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 expand by 50.4% from the same period last year, reaching 1.97 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 669 million yen, a 67.0% 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	28,473	ー	5,166	3,459	108.2	93.3	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	26,000	ー	2,451	1,563	48.9	65.2	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	25,245	ー	2,828	2,085	65.2	58.9	Nov 12, 2024	J-GAAP
YoY	-2.9%	－	+15.4%	+33.4%	+33.4%

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	25,200	ー	2,800	2,000	62.5	17.50	Oct 29, 2024	J-GAAP
Apr - Sep, 2024 Results	25,245	ー	2,828	2,085	65.2	17.50	Nov 12, 2024	J-GAAP
Revision Rate	+0.2%	－	+1.0%	+4.3%	+4.3%

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	29,097	ー	1,311	517	16.2	17.50	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	23,755	ー	1,972	1,215	38.0	17.50	Nov 12, 2024	J-GAAP
YoY	-18.4%	－	+50.4%	+135.0%	+135.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	51,184	ー	5,537	3,435	107.4	35	May 12, 2023	J-GAAP
Mar, 2024	55,097	ー	3,762	2,080	65.0	35	May 14, 2024	J-GAAP
Mar, 2025 Guidance	49,000	ー	4,800	3,300	103.2	35	Oct 29, 2024	J-GAAP
YoY	-11.1%	－	+27.6%	+58.7%	+58.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	14,833	ー	2,025	1,359	42.5	0.0	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	17,401	ー	771	556	17.4	0.0	Feb 1, 2024	J-GAAP
Jan - Mar, 2024	11,696	ー	540	-39	-1.2	0.0	May 14, 2024	J-GAAP
Apr - Jun, 2024	11,709	ー	2,159	1,586	49.6	0.0	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	13,536	ー	669	499	15.6	0.0	Nov 12, 2024	J-GAAP
YoY	-8.7%	－	-67.0%	-63.3%	-63.3%