Aozora Bank, Ltd., First Half Ordinary Profit Decreases by 31%, July-September Ordinary Profit Decreases by 41%

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Fri Nov 15, 2024 4:00 pm JST Earnings

8304 Aozora Bank, Ltd. 【J-GAAP】

Earnings Report

Aozora Bank, Ltd. <8304> [TSE-P] announced its financial results after the market closed on November 15th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 30.5% from the same period last year to 9.99 billion yen. The progress rate against the 24 billion yen full-year plan was 41.6%, also falling below the five-year average of 112.6%.

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 profit of 14 billion yen (compared to a loss of 69.2 billion yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 4.1 billion yen, a 41.4% 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	95,447	ー	20,413	15,389	131.8	277.5	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	135,662	ー	14,384	12,048	103.2	ー	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	115,128	ー	9,994	11,919	93.4	41.6	Nov 15, 2024	J-GAAP
YoY	-15.1%	－	-30.5%	-1.1%	-9.5%

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	ー	ー	ー	ー	－	－	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	115,128	ー	9,994	11,919	93.4	38	Nov 15, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	110,637	ー	-69,200	-61,952	-530.4	0	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	ー	ー	14,006	6,081	44.0	38	Nov 15, 2024	J-GAAP
YoY	－	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	183,292	ー	7,356	8,719	74.7	154	May 17, 2023	J-GAAP
Mar, 2024	246,299	ー	-54,816	-49,904	-427.2	76	May 13, 2024	J-GAAP
Mar, 2025 Guidance	ー	ー	24,000	18,000	130.1	76	May 13, 2024	J-GAAP
YoY	－	－	－	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	68,861	ー	6,999	5,277	45.2	0.0	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	57,592	ー	-39,245	-26,753	-229.0	0.0	Feb 1, 2024	J-GAAP
Jan - Mar, 2024	53,045	ー	-29,955	-35,199	-301.3	0.0	May 13, 2024	J-GAAP
Apr - Jun, 2024	58,299	ー	5,892	7,571	64.8	0.0	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	56,829	ー	4,102	4,348	34.1	0.0	Nov 15, 2024	J-GAAP
YoY	-17.5%	－	-41.4%	-17.6%	-24.6%