Kyushu Financial Group,Inc., First Half Ordinary Profit Decreases by 7%

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Thu Nov 14, 2024 3:30 pm JST Earnings

7180 Kyushu Financial Group,Inc. 【J-GAAP】

Earnings Report

Kyushu Financial Group,Inc. <7180> [TSE-P] announced its financial results after the market closed on November 14th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 6.7% from the same period last year to 21.2 billion yen. The progress rate against the 41.5 billion yen full-year plan was 51.1%, below the five-year average of 63.8%.

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 grow by 29.1% from the same period last year, reaching 20.2 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 42.5% from the same period last year, reaching 7.81 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	110,859	ー	24,873	17,195	39.7	69.9	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	112,624	ー	22,740	15,729	36.4	59.2	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	108,665	ー	21,227	14,616	33.8	51.1	Nov 14, 2024	J-GAAP
YoY	-3.5%	－	-6.7%	-7.1%	-7.1%

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	17,000	12,000	27.7	9	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	108,665	ー	21,227	14,616	33.8	9	Nov 14, 2024	J-GAAP
Revision Rate	－	－	+24.9%	+21.8%	+21.8%

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	109,927	ー	15,698	10,665	24.7	9	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	ー	ー	20,273	13,884	32.1	11	Nov 14, 2024	J-GAAP
YoY	－	－	+29.1%	+30.2%	+30.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	214,368	ー	35,597	24,668	57.0	12	May 11, 2023	J-GAAP
Mar, 2024	222,551	ー	38,438	26,394	61.0	18	May 13, 2024	J-GAAP
Mar, 2025 Guidance	ー	ー	41,500	28,500	65.9	20	Nov 5, 2024	J-GAAP
YoY	－	－	+8.0%	+8.0%	+8.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	52,674	ー	5,483	3,542	8.2	0.0	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	55,111	ー	9,854	6,944	16.1	0.0	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	54,816	ー	5,844	3,721	8.6	0.0	May 13, 2024	J-GAAP
Apr - Jun, 2024	57,456	ー	13,416	9,292	21.5	0.0	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	51,209	ー	7,811	5,324	12.3	0.0	Nov 14, 2024	J-GAAP
YoY	-2.8%	－	+42.5%	+50.3%	+50.2%