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The Minami-Nippon Bank,Ltd., First Half Ordinary Profit Increases by 59%, Exceeds Full-Year Plan

Fri Nov 8, 2024 2:00 pm JST Earnings

8554 The Minami-Nippon Bank,Ltd. 【J-GAAP】

Earnings Report

The Minami-Nippon Bank,Ltd. <8554> [FukuokaSE] announced its financial results in the afternoon session on November 8th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 2.01 billion yen, an increase of 59.3% compared to the same period last year. The progress rate against the full-year plan of 1.6 billion yen is 125.8%, already exceeding the target and also exceeding the five-year average of 67.8%.

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 loss of 412 million yen (compared to a profit of 772 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 51.7% from the same period last year, reaching 1.27 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 7,399 ー 887 766 74.7 47.1 Nov 9, 2022 J-GAAP
Apr - Sep, 2023 7,309 ー 1,263 1,145 133.4 62.1 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 8,517 ー 2,012 1,514 182.6 125.8 Nov 8, 2024 J-GAAP
YoY +16.5% － +59.3% +32.2% +36.9%

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 1,980 1,480 190.8 0 Nov 1, 2024 J-GAAP
Apr - Sep, 2024 Results 8,517 ー 2,012 1,514 182.6 0 Nov 8, 2024 J-GAAP
Revision Rate － － +1.6% +2.3% -4.3%

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 7,256 ー 772 468 53.3 30 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance ー ー -412 -414 -46.1 30 Nov 8, 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 14,651 ー 1,883 1,532 160.7 25 May 11, 2023 J-GAAP
Mar, 2024 14,565 ー 2,035 1,613 183.8 30 May 10, 2024 J-GAAP
Mar, 2025 Guidance ー ー 1,600 1,100 122.6 30 May 10, 2024 J-GAAP
YoY － － -21.4% -31.8% -33.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 3,739 ー 839 612 71.3 0.0 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 3,728 ー 408 273 31.5 0.0 Feb 7, 2024 J-GAAP
Jan - Mar, 2024 3,528 ー 364 195 22.2 0.0 May 10, 2024 J-GAAP
Apr - Jun, 2024 3,883 ー 739 487 57.0 0.0 Aug 7, 2024 J-GAAP
Jul - Sep, 2024 4,634 ー 1,273 1,027 123.9 0.0 Nov 8, 2024 J-GAAP
YoY +23.9% － +51.7% +67.8% +73.7%

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