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The Bank of Nagoya, Ltd., First Half Ordinary Profit Increases by 64%

Tue Nov 12, 2024 3:20 pm JST Earnings

8522 The Bank of Nagoya, Ltd. 【J-GAAP】

Earnings Report

The Bank of Nagoya, Ltd. <8522> [TSE-P] announced its financial results in the afternoon session on November 12th (15:20). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 10.3 billion yen, an increase of 63.7% compared to the same period last year, exceeded the previous forecast of 8.2 billion yen.

The progress rate against the 17.3 billion yen full-year plan was 59.5%, also surpassing the five-year average of 48.9%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to decrease by 14.9% from the same period last year to 6.99 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged to 2.0 times that of the same period last year, reaching 4.44 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 39,810 ー 6,469 4,794 92.1 56.3 Nov 9, 2022 J-GAAP
Apr - Sep, 2023 48,206 ー 6,291 4,501 88.1 43.3 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 48,381 ー 10,301 7,509 152.1 59.5 Nov 12, 2024 J-GAAP
YoY +0.4% － +63.7% +66.8% +72.6%

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 46,300 ー 8,200 5,900 120.0 36.67 May 14, 2024 J-GAAP
Apr - Sep, 2024 Results 48,381 ー 10,301 7,509 152.1 36.67 Nov 12, 2024 J-GAAP
Revision Rate +4.5% － +25.6% +27.3% +26.8%

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 53,070 ー 8,222 5,535 109.2 33.33 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 41,519 ー 6,999 4,591 93.4 36.66 Nov 12, 2024 J-GAAP
YoY -21.8% － -14.9% -17.1% -14.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 79,765 ー 11,495 8,377 161.3 40 May 12, 2023 J-GAAP
Mar, 2024 101,276 ー 14,513 10,036 198.0 60 May 14, 2024 J-GAAP
Mar, 2025 Guidance 89,900 ー 17,300 12,100 246.0 73.33 May 14, 2024 J-GAAP
YoY -11.2% － +19.2% +20.6% +24.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 26,106 ー 2,183 1,556 30.5 0.0 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 31,355 ー 5,025 3,397 66.8 0.0 Feb 7, 2024 J-GAAP
Jan - Mar, 2024 21,715 ー 3,197 2,138 42.2 0.0 May 14, 2024 J-GAAP
Apr - Jun, 2024 25,186 ー 5,860 4,063 82.0 0.0 Aug 2, 2024 J-GAAP
Jul - Sep, 2024 23,195 ー 4,441 3,446 69.8 0.0 Nov 12, 2024 J-GAAP
YoY -11.2% － +103.4% +121.5% +129.0%

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