TOBU RAILWAY CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 12%, Dividend Revised Upward by 5 yen

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Wed Nov 6, 2024 3:30 pm JST Earnings

9001 TOBU RAILWAY CO.,LTD. 【J-GAAP】

Earnings Report

TOBU RAILWAY CO.,LTD. <9001> [TSE-P] announced its financial results after the market closed on November 6th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was 37.3 billion yen, a 2.2% decrease compared to the same period last year.

However, the full-year consolidated ordinary profit has been revised upward by 12.1%, from the previous forecast of 58 billion yen to 65 billion yen (compared to 72 billion yen in the previous period), and the declining rate is expected to decrease from 19.5% to 9.8%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to decrease by 18.3% from the same period last year to 27.6 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 50 yen to 55 yen (compared to 55 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 8.0% from the same period last year, reaching 15.7 billion yen. The operating profit margin rose from 10.2% in the same period last year to 11.2%.

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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	285,422	24,097	23,151	13,030	62.5	42.2	Nov 2, 2022	J-GAAP
Apr - Sep, 2023	308,582	39,087	38,200	26,375	127.6	53.0	Nov 2, 2023	J-GAAP
Apr - Sep, 2024	301,996	38,478	37,374	25,339	123.2	57.5	Nov 6, 2024	J-GAAP
YoY	-2.1%	-1.6%	-2.2%	-3.9%	-3.5%

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	－	25	Apr 30, 2024	J-GAAP
Apr - Sep, 2024 Results	301,996	38,478	37,374	25,339	123.2	27.50	Nov 6, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	639,000	62,000	58,000	43,000	215.4	50	Apr 30, 2024	J-GAAP
Mar, 2025 New	639,000	68,000	65,000	48,500	243.0	55	Nov 6, 2024	J-GAAP
Revision Rate	0.0%	+9.7%	+12.1%	+12.8%	+12.8%

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	327,382	34,796	33,833	21,789	105.4	30	Apr 30, 2024	J-GAAP
Oct - Mar, 2024 Guidance	337,004	29,522	27,626	23,161	116.0	27.50	Nov 6, 2024	J-GAAP
YoY	+2.9%	-15.2%	-18.3%	+6.3%	+10.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	614,751	56,688	54,815	29,179	140.1	30	Apr 28, 2023	J-GAAP
Mar, 2024	635,964	73,883	72,033	48,164	233.0	55	Apr 30, 2024	J-GAAP
Mar, 2025 Guidance	639,000	68,000	65,000	48,500	243.0	55	Nov 6, 2024	J-GAAP
YoY	+0.5%	-8.0%	-9.8%	+0.7%	+4.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	151,207	15,429	14,605	10,086	48.8	10.2	Nov 2, 2023	J-GAAP
Oct - Dec, 2023	158,136	22,319	22,135	14,539	70.3	14.1	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	169,246	12,477	11,698	7,250	35.1	7.4	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	149,914	21,396	21,600	14,891	72.0	14.3	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	152,082	17,082	15,774	10,448	50.8	11.2	Nov 6, 2024	J-GAAP
YoY	+0.6%	+10.7%	+8.0%	+3.6%	+4.1%