Kyoto Financial Group,Inc., The Current Fiscal Year Ordinary Profit Revised Upward by 7%, Exceeded record profit forecast

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Thu Nov 14, 2024 3:30 pm JST Earnings

5844 Kyoto Financial Group,Inc. 【J-GAAP】

Earnings Report

Kyoto Financial Group,Inc. <5844> [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) increased by 10.7% from the same period last year, reaching 29.6 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 7.1%, from the previous forecast of 46.2 billion yen to 49.5 billion yen (compared to 43.5 billion yen in the previous period), increasing the growth rate from 6.0% to 13.6%. The company has further increased its previous forecast of record profits for the first time in six years.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow by 18.3% from the same period last year, reaching 19.8 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 6.55 billion yen, a 0.2% 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	65,771	ー	22,218	15,959	53.1	58.2	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	69,982	ー	26,834	19,217	64.6	61.6	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	82,762	ー	29,692	21,247	72.7	60.0	Nov 14, 2024	J-GAAP
YoY	+18.3%	－	+10.7%	+10.6%	+12.5%

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	77,400	ー	26,900	19,500	66.7	30	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	82,762	ー	29,692	21,247	72.7	30	Nov 14, 2024	J-GAAP
Revision Rate	+6.9%	－	+10.4%	+9.0%	+9.0%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	152,400	ー	46,200	33,000	112.9	60	May 14, 2024	J-GAAP
Mar, 2025 New	161,600	ー	49,500	35,000	119.8	60	Nov 14, 2024	J-GAAP
Revision Rate	+6.0%	－	+7.1%	+6.1%	+6.1%

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	67,709	ー	16,740	12,355	41.7	35	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	78,838	ー	19,808	13,753	47.1	30	Nov 14, 2024	J-GAAP
YoY	+16.4%	－	+18.3%	+11.3%	+12.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	124,333	ー	38,177	27,213	90.7	35	May 12, 2023	J-GAAP
Mar, 2024	137,691	ー	43,574	31,572	106.6	55	May 14, 2024	J-GAAP
Mar, 2025 Guidance	161,600	ー	49,500	35,000	119.8	60	Nov 14, 2024	J-GAAP
YoY	+17.4%	－	+13.6%	+10.9%	+12.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	28,507	ー	6,565	4,321	14.5	0.0	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	39,031	ー	16,106	12,361	41.6	0.0	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	28,678	ー	634	-6	0.0	0.0	May 14, 2024	J-GAAP
Apr - Jun, 2024	47,703	ー	23,137	16,939	58.0	0.0	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	35,059	ー	6,555	4,308	14.7	0.0	Nov 14, 2024	J-GAAP
YoY	+23.0%	－	-0.2%	-0.3%	+1.4%