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North Pacific Bank,Ltd., First Half Ordinary Profit Increases by 36%

Tue Nov 12, 2024 4:00 pm JST Earnings

8524 North Pacific Bank,Ltd. 【J-GAAP】

Earnings Report

North Pacific Bank,Ltd. <8524> [TSE-P] announced its financial results after the market closed on November 12th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 11.7 billion yen, an increase of 36.2% compared to the same period last year. The progress rate against the 23.4 billion yen full-year plan was 50.3%, it was below the five-year average of 56.9%.

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 grow by 16.7% from the same period last year, reaching 11.6 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 13.8% from the same period last year, reaching 4.39 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 64,320 ー 11,321 7,505 19.5 65.4 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 65,083 ー 8,642 6,643 17.3 46.4 Nov 13, 2023 J-GAAP
Apr - Sep, 2024 68,695 ー 11,770 8,449 22.1 50.3 Nov 12, 2024 J-GAAP
YoY +5.5% － +36.2% +27.2% +27.9%

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 65,900 ー 10,300 6,700 17.5 6.50 May 14, 2024 J-GAAP
Apr - Sep, 2024 Results 68,695 ー 11,770 8,449 22.1 6.50 Nov 12, 2024 J-GAAP
Revision Rate +4.2% － +14.3% +26.1% +26.0%

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 68,031 ー 9,963 6,187 16.1 5 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 64,705 ー 11,630 7,051 18.7 6.50 Nov 12, 2024 J-GAAP
YoY -4.9% － +16.7% +14.0% +16.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 126,734 ー 17,312 9,647 25.0 10 May 15, 2023 J-GAAP
Mar, 2024 133,114 ー 18,605 12,830 33.3 10 May 14, 2024 J-GAAP
Mar, 2025 Guidance 133,400 ー 23,400 15,500 41.2 13 May 14, 2024 J-GAAP
YoY +0.2% － +25.8% +20.8% +23.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 32,316 ー 3,860 3,415 8.9 0.0 Nov 13, 2023 J-GAAP
Oct - Dec, 2023 32,348 ー 4,496 3,378 8.8 0.0 Feb 8, 2024 J-GAAP
Jan - Mar, 2024 35,683 ー 5,467 2,809 7.3 0.0 May 14, 2024 J-GAAP
Apr - Jun, 2024 33,752 ー 7,379 5,236 13.7 0.0 Aug 5, 2024 J-GAAP
Jul - Sep, 2024 34,943 ー 4,391 3,213 8.4 0.0 Nov 12, 2024 J-GAAP
YoY +8.1% － +13.8% -5.9% -5.4%

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