Central Japan Railway, The Current Fiscal Year Ordinary Profit Revised Upward by 5%

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Mon Feb 3, 2025 3:30 pm JST Earnings

9022 Central Japan Railway Company 【J-GAAP】

Earnings Report

Central Japan Railway Company <9022> [TSE Prime] announced its financial results after the market closed on February 3rd (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) increased 18.9% from the same period last year, reaching 540 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward 4.6%, from the previous forecast of 563 billion yen to 589 billion yen (compared to 546 billion yen in the previous period), increasing the growth rate from 2.9% to 7.7%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) has been revised upward 11.4%, from the previous forecast of 227 billion yen to 253 billion yen (compared to 268 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 15.2% to 5.5%.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 16.4% from the same period last year, reaching 205 billion yen. The operating profit margin rose from 41.8% in the same period last year to 44.3%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Dec, 2022	1,019,151	306,369	254,476	180,660	183.6	82.8	Jan 30, 2023	J-GAAP
Apr - Dec, 2023	1,273,017	502,597	455,115	318,770	324.0	83.2	Jan 30, 2024	J-GAAP
Apr - Dec, 2024	1,368,037	583,929	540,946	376,861	383.0	91.8	Feb 3, 2025	J-GAAP
YoY	+7.5%	+16.2%	+18.9%	+18.2%	+18.2%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	888,135	258,791	227,533	158,353	160.9	15	Oct 29, 2024	J-GAAP
Oct - Mar, 2024 New	914,135	284,791	253,533	176,353	179.2	15	Feb 3, 2025	J-GAAP
Revision Rate	+2.9%	+10.0%	+11.4%	+11.4%	+11.4%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	1,762,000	624,000	563,000	392,000	398.4	30	Oct 29, 2024	J-GAAP
Mar, 2025 New	1,788,000	650,000	589,000	410,000	416.7	30	Feb 3, 2025	J-GAAP
Revision Rate	+1.5%	+4.2%	+4.6%	+4.6%	+4.6%

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	892,862	295,289	268,323	189,332	192.4	15	Apr 30, 2024	J-GAAP
Oct - Mar, 2024 Guidance	914,135	284,791	253,533	176,353	179.2	15	Feb 3, 2025	J-GAAP
YoY	+2.4%	-3.6%	-5.5%	-6.9%	-6.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	1,400,285	374,503	307,485	219,417	223.0	27	Apr 26, 2023	J-GAAP
Mar, 2024	1,710,407	607,381	546,946	384,411	390.7	29	Apr 30, 2024	J-GAAP
Mar, 2025 Guidance	1,788,000	650,000	589,000	410,000	416.7	30	Feb 3, 2025	J-GAAP
YoY	+4.5%	+7.0%	+7.7%	+6.7%	+6.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	455,472	190,505	176,492	123,691	125.7	41.8	Jan 30, 2024	J-GAAP
Jan - Mar, 2024	437,390	104,784	91,831	65,641	66.7	24.0	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	435,290	184,327	171,278	119,786	121.7	42.3	Jul 30, 2024	J-GAAP
Jul - Sep, 2024	438,575	180,882	164,189	113,861	115.7	41.2	Oct 29, 2024	J-GAAP
Oct - Dec, 2024	494,172	218,720	205,479	143,214	145.5	44.3	Feb 3, 2025	J-GAAP
YoY	+8.5%	+14.8%	+16.4%	+15.8%	+15.8%