Concordia Financial Group, Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 10%, Exceeded record profit forecast, Dividend Revised Upward by 1 yen

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Thu Nov 14, 2024 3:30 pm JST Earnings

7186 Concordia Financial Group, Ltd. 【J-GAAP】

Earnings Report

Concordia Financial Group, Ltd. <7186> [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) surged by 2.0 times that of the same period last year, reaching 64.1 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 10.1%, from the previous forecast of 109 billion yen to 120 billion yen (compared to 77 billion yen in the previous period), increasing the growth rate from 41.6% to 55.8%. The company has further increased its previous forecast of record profits for the first time in seven 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 24.3% from the same period last year, reaching 55.8 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 26 yen to 27 yen (compared to 23 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 23.6% from the same period last year, reaching 31.5 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	149,406	ー	43,117	29,359	24.7	54.0	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	177,745	ー	32,093	37,838	32.2	41.7	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	190,269	ー	64,196	44,306	38.1	53.5	Nov 14, 2024	J-GAAP
YoY	+7.0%	－	+100.0%	+17.1%	+18.1%

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	ー	ー	－	13	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	190,269	ー	64,196	44,306	38.1	13	Nov 14, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	ー	ー	109,000	75,000	65.7	26	May 13, 2024	J-GAAP
Mar, 2025 New	ー	ー	120,000	78,500	68.8	27	Nov 14, 2024	J-GAAP
Revision Rate	－	－	+10.1%	+4.7%	+4.7%

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	180,558	ー	44,911	29,093	24.9	12	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	ー	ー	55,804	34,194	30.0	14	Nov 14, 2024	J-GAAP
YoY	－	－	+24.3%	+17.5%	+20.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	312,983	ー	79,870	56,159	47.4	19	May 12, 2023	J-GAAP
Mar, 2024	358,303	ー	77,004	66,931	57.2	23	May 13, 2024	J-GAAP
Mar, 2025 Guidance	ー	ー	120,000	78,500	68.8	27	Nov 14, 2024	J-GAAP
YoY	－	－	+55.8%	+17.3%	+20.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	93,312	ー	25,507	17,473	14.9	0.0	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	83,944	ー	23,704	16,080	13.7	0.0	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	96,614	ー	21,207	13,013	11.1	0.0	May 13, 2024	J-GAAP
Apr - Jun, 2024	92,624	ー	32,676	22,665	19.5	0.0	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	97,645	ー	31,520	21,641	18.6	0.0	Nov 14, 2024	J-GAAP
YoY	+4.6%	－	+23.6%	+23.9%	+24.9%