Credit Saison (8253) Q1 2024 earnings summary

Executive summary

• Consolidated net income rose to 100.0 billion yen, up 116.5% year-over-year, driven by growth in global, payment, and finance businesses.

• Net revenue for Q1 FY2024 rose 16.5% year-over-year to ¥100,076 million, with profit attributable to owners at ¥16,595 million, down 2.1% year-over-year.

• Comprehensive income increased to ¥23,378 million from ¥22,737 million in the prior year.

• Operating profit reached 22.8 billion yen, a 97.0% year-over-year increase, despite the absence of prior year real estate gains.

• Basic earnings per share decreased to ¥102.15 from ¥108.43 year-over-year.

Financial highlights

• Net revenue for FY24-1Q was 1,000 (100 million yen), up 116.5% year-over-year; business profit was 228 (100 million yen), 97.0% of last year.

• Profit attributable to owners was 165 (100 million yen), 97.9% of last year; operating revenue was 735 (100 million yen), up 106.9% year-over-year.

• Business profit for Q1 FY2024 was ¥22,871 million, down 3.0% year-over-year.

• Total assets increased to ¥4,425,839 million as of June 30, 2024, up from ¥4,335,852 million at March 31, 2024.

• Dividend for FY2024 projected at ¥105 per share, unchanged from the previous year.

Outlook and guidance

• FY24-1Q net revenue progress rate is 24.2% of the annual plan; business profit progress rate is 29.7%.

• FY2024 net revenue forecast at ¥413,000 million, up 14.2% year-over-year.

• Business profit projected at ¥77,000 million, up 7.0% year-over-year.

• Profit attributable to owners expected to decline 28.8% to ¥52,000 million, with EPS forecast at ¥324.88.

• Guidance incorporates the impact of share buybacks completed by July 31, 2024.