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

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%

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