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Suruga Bank, Apr-Dec (Cumulative 3Q) Ordinary Profit Increases by 26%, Exceeds Full-Year Plan

Thu Feb 6, 2025 1:00 pm JST Earnings

8358 Suruga Bank Ltd. 【J-GAAP】

Earnings Report

Suruga Bank Ltd. <8358> [TSE Prime] announced its financial results in the afternoon session on February 6th (13:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) increased 25.8% from the same period last year, reaching 22.3 billion yen. The progress rate toward the full-year plan of 22 billion yen is 101.4%, but it was lower than the five-year average of 106.1%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the January to March period (4Q) is expected to turn into a loss of 0.3 billion yen (compared to a profit of 2.9 billion yen in the same period last year).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit increased 91.5% from the same period last year, reaching 9.34 billion yen.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Dec, 2022 73,064 ー 23,142 20,881 110.9 174.4 Feb 9, 2023 J-GAAP
Apr - Dec, 2023 67,416 ー 17,733 13,497 65.4 85.9 Feb 9, 2024 J-GAAP
Apr - Dec, 2024 67,665 ー 22,305 18,365 96.8 101.4 Feb 6, 2025 J-GAAP
YoY +0.4% － +25.8% +36.1% +47.9%

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 47,453 ー 7,786 5,786 28.4 14 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance ー ー 9,038 6,416 34.6 14.50 Nov 12, 2024 J-GAAP
YoY － － +16.1% +10.9% +21.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 92,403 ー 13,266 10,576 56.2 9 May 12, 2023 J-GAAP
Mar, 2024 91,447 ー 20,641 15,375 75.4 21 May 10, 2024 J-GAAP
Mar, 2025 Guidance ー ー 22,000 17,500 94.4 29 Nov 12, 2024 J-GAAP
YoY － － +6.6% +13.8% +25.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 23,422 ー 4,878 3,908 18.9 0.0 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 24,031 ー 2,908 1,878 9.2 0.0 May 10, 2024 J-GAAP
Apr - Jun, 2024 22,286 ー 7,594 6,810 35.4 0.0 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 20,297 ー 5,368 4,274 22.3 0.0 Nov 12, 2024 J-GAAP
Oct - Dec, 2024 25,082 ー 9,343 7,281 38.4 0.0 Feb 6, 2025 J-GAAP
YoY +7.1% － +91.5% +86.3% +102.5%

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