Nankai Electric Railway, The Current Fiscal Year Ordinary Profit Revised Upward by 6%, Exceeded Record Profit Forecast, Dividend Revised Upward by 5 yen

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Mon Mar 31, 2025 3:30 pm JST Revision

9044 Nankai Electric Railway Co.,Ltd. 【J-GAAP】

Guidance Update Report

Nankai Electric Railway Co.,Ltd. <9044> [TSE Prime] announced a revision to its performance and dividend after the market closed on March 31st (15:30). The consolidated ordinary profit for the fiscal year ending March 2025 has been revised upward 5.8%, from the previous forecast of 33 billion yen to 34.9 billion yen (compared to 29.3 billion yen in the previous period), increasing the growth rate from 12.6% to 19.1%. The company has further increased its previous forecast of record profits for the first time in five years. However, the full-year consolidated net income has decreased 0.5%, from the previous forecast of 21.2 billion yen to 21.1 billion yen (compared to 23.9 billion yen in the previous period), leading to an increase in the profit decline rate from 11.4% to 11.8%.

Based on the upwardly revised full-year plan announced by the company, our calculation indicates that the October to March period (2H) consolidated ordinary profit has been revised upward 14.4%, from the previous forecast of 13.1 billion yen to 15 billion yen (compared to 16 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 17.9% to 6.0%.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 35 yen to 40 yen (compared to 35 yen in the previous period).

Kabutan News

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	138,821	14,444	13,178	8,650	76.4	17.50	Oct 30, 2024	J-GAAP
Oct - Mar, 2024 New	137,421	15,744	15,078	8,550	75.5	22.50	Mar 31, 2025	J-GAAP
Revision Rate	-1.0%	+9.0%	+14.4%	-1.2%	-1.2%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	262,400	32,700	33,000	21,200	187.2	35	Oct 29, 2024	J-GAAP
Mar, 2025 New	261,000	34,000	34,900	21,100	186.4	40	Mar 31, 2025	J-GAAP
Revision Rate	-0.5%	+4.0%	+5.8%	-0.5%	-0.5%

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	123,922	16,583	16,044	15,059	133.0	35	Apr 30, 2024	J-GAAP
Oct - Mar, 2024 Guidance	137,421	15,744	15,078	8,550	75.5	22.50	Mar 31, 2025	J-GAAP
YoY	+10.9%	-5.1%	-6.0%	-43.2%	-43.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	221,280	21,023	18,965	14,623	129.1	25	Apr 28, 2023	J-GAAP
Mar, 2024	241,594	30,820	29,312	23,926	211.3	35	Apr 30, 2024	J-GAAP
Mar, 2025 Guidance	261,000	34,000	34,900	21,100	186.4	40	Mar 31, 2025	J-GAAP
YoY	+8.0%	+10.3%	+19.1%	-11.8%	-11.8%