East Japan Railway Company, First Half Ordinary Profit Increases by 24%

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Thu Oct 31, 2024 3:00 pm JST Earnings

9020 East Japan Railway Company 【J-GAAP】

Earnings Report

East Japan Railway Company <9020> [TSE-P] announced its financial results after the market closed on October 31st (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 23.6% from the same period last year, reaching 204 billion yen. The progress rate against the 315 billion yen full-year plan was 64.9%, also surpassing the five-year average of 57.2%.

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 15.7% from the same period last year to 110 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 98 billion yen, an increase of 0.02% compared to the same period last year. However, the operating profit margin decreased from 16.7% in the same period last year to 16.2%.

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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	1,115,073	66,710	39,594	27,106	24.0	35.7	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	1,299,829	191,797	165,529	117,077	103.6	55.8	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	1,395,117	235,604	204,525	139,780	123.6	64.9	Oct 31, 2024	J-GAAP
YoY	+7.3%	+22.8%	+23.6%	+19.4%	+19.2%

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	－	26	Apr 30, 2024	J-GAAP
Apr - Sep, 2024 Results	1,395,117	235,604	204,525	139,780	123.6	26	Oct 31, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	1,430,289	153,364	131,102	79,372	70.2	28.34	Apr 30, 2024	J-GAAP
Oct - Mar, 2024 Guidance	1,456,883	134,396	110,475	70,220	62.1	26	Oct 31, 2024	J-GAAP
YoY	+1.9%	-12.4%	-15.7%	-11.5%	-11.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	2,405,538	140,628	110,910	99,232	87.8	33.33	Apr 27, 2023	J-GAAP
Mar, 2024	2,730,118	345,161	296,631	196,449	173.8	46.67	Apr 30, 2024	J-GAAP
Mar, 2025 Guidance	2,852,000	370,000	315,000	210,000	185.6	52	Apr 30, 2024	J-GAAP
YoY	+4.5%	+7.2%	+6.2%	+6.9%	+6.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	670,357	111,621	98,039	72,264	64.0	16.7	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	701,193	106,713	94,102	68,155	60.3	15.2	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	729,096	46,651	37,000	11,217	9.9	6.4	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	686,670	120,530	106,469	73,300	64.8	17.6	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	708,447	115,074	98,056	66,480	58.8	16.2	Oct 31, 2024	J-GAAP
YoY	+5.7%	+3.1%	+0.0%	-8.0%	-8.1%