Tokio Marine Holdings, Inc., The Current Fiscal Year Ordinary Profit Revised Upward by 3%, Adds to Record High Profit Forecast, Dividend Revised Upward by 3 yen

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Tue Nov 19, 2024 4:00 pm JST Earnings

8766 Tokio Marine Holdings, Inc. 【J-GAAP】

Earnings Report

Tokio Marine Holdings, Inc. <8766> [TSE-P] announced its financial results after the market closed on November 19th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 3.4 times that of the same period last year, reaching 937 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 3.3%, from the previous forecast of 1.2 trillion yen to 1.24 trillion yen (compared to 842 billion yen in the previous period), increasing the growth rate from 42.4% to 47.2%, further surpassing the previous forecast of record-high profits for two consecutive terms.

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 drop by 46.7% from the same period last year to 302 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 159 yen to 162 yen (compared to 123 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged to 6.4 times that of the same period last year, reaching 672 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	3,375,805	ー	121,699	97,903	48.5	24.6	Nov 18, 2022	J-GAAP
Apr - Sep, 2023	3,744,117	ー	275,956	205,005	103.4	32.8	Nov 17, 2023	J-GAAP
Apr - Sep, 2024	4,342,147	ー	937,946	688,500	351.4	75.6	Nov 19, 2024	J-GAAP
YoY	+16.0%	－	+239.9%	+235.8%	+239.9%

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	ー	ー	ー	ー	－	79.50	May 20, 2024	J-GAAP
Apr - Sep, 2024 Results	4,342,147	ー	937,946	688,500	351.4	81	Nov 19, 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	1,200,000	870,000	448.5	159	May 20, 2024	J-GAAP
Mar, 2025 New	ー	ー	1,240,000	880,000	453.7	162	Nov 19, 2024	J-GAAP
Revision Rate	－	－	+3.3%	+1.1%	+1.2%

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	3,680,550	ー	566,620	490,803	248.0	62.50	May 20, 2024	J-GAAP
Oct - Mar, 2024 Guidance	ー	ー	302,054	191,500	98.7	81	Nov 19, 2024	J-GAAP
YoY	－	－	-46.7%	-61.0%	-60.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	6,610,046	ー	494,165	374,605	186.4	100	May 19, 2023	J-GAAP
Mar, 2024	7,424,667	ー	842,576	695,808	351.6	123	May 20, 2024	J-GAAP
Mar, 2025 Guidance	ー	ー	1,240,000	880,000	453.7	162	Nov 19, 2024	J-GAAP
YoY	－	－	+47.2%	+26.5%	+29.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,921,590	ー	104,601	77,055	38.9	0.0	Nov 17, 2023	J-GAAP
Oct - Dec, 2023	1,890,528	ー	313,866	312,477	157.8	0.0	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	1,790,022	ー	252,754	178,326	90.1	0.0	May 20, 2024	J-GAAP
Apr - Jun, 2024	1,924,073	ー	265,032	197,316	100.6	0.0	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	2,418,074	ー	672,914	491,184	250.7	0.0	Nov 19, 2024	J-GAAP
YoY	+25.8%	－	+543.3%	+537.4%	+545.1%