THE TOWA BANK,LTD., First Half Ordinary Profit Increases by 3%, Exceeds Full-Year Plan

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Tue Nov 12, 2024 3:30 pm JST Earnings

8558 THE TOWA BANK,LTD. 【J-GAAP】

Earnings Report

THE TOWA BANK,LTD. <8558> [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 3.2% from the same period last year, reaching 2.06 billion yen. The progress rate against the full-year plan of 2 billion yen is 103.3%, already exceeding the target and also exceeding the five-year average of 63.4%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to March period (second half) is expected to turn into a loss of 66 million yen (compared to a profit of 2.33 billion yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 1.36 billion yen, an increase of 2.2% 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	16,794	ー	2,554	2,980	80.7	64.1	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	17,301	ー	2,001	1,531	41.4	46.2	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	16,776	ー	2,066	1,196	32.3	103.3	Nov 12, 2024	J-GAAP
YoY	-3.0%	－	+3.2%	-21.9%	-22.1%

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	ー	ー	2,060	1,190	32.1	0	Nov 5, 2024	J-GAAP
Apr - Sep, 2024 Results	16,776	ー	2,066	1,196	32.3	0	Nov 12, 2024	J-GAAP
Revision Rate	－	－	+0.3%	+0.5%	+0.6%

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	16,837	ー	2,334	1,999	50.9	35	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	ー	ー	-66	304	8.3	30	Nov 12, 2024	J-GAAP
YoY	－	－	－	-84.8%	-83.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	33,513	ー	3,987	4,094	105.6	25	May 12, 2023	J-GAAP
Mar, 2024	34,138	ー	4,335	3,530	89.8	35	May 9, 2024	J-GAAP
Mar, 2025 Guidance	ー	ー	2,000	1,500	40.8	30	May 9, 2024	J-GAAP
YoY	－	－	-53.9%	-57.5%	-54.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	8,937	ー	1,332	1,115	30.2	0.0	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	8,388	ー	1,564	1,325	35.8	0.0	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	8,449	ー	770	674	17.2	0.0	May 9, 2024	J-GAAP
Apr - Jun, 2024	8,045	ー	705	665	18.0	0.0	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	8,731	ー	1,361	531	14.3	0.0	Nov 12, 2024	J-GAAP
YoY	-2.3%	－	+2.2%	-52.4%	-52.5%