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Japan Airlines, First Half Net Income Increases by 36%, Jul-Sep Net Income Increases by 13%

Thu Oct 30, 2025 12:00 pm JST Earnings

9201 Japan Airlines Co., Ltd. 【IFRS】

Earnings Report

Japan Airlines Co., Ltd. <9201> [TSE Prime] announced its financial results (based on IFRS) at noon (12:00) on October 30th. The consolidated net income for the cumulative second quarter of the fiscal year ending March 2026 (April to September) expanded 67.6 billion yen, an increase 35.6% compared to the same period last year. Progress toward the full-year plan of 115 billion yen was 58.8%, also surpassing progress of 46.6% from the same period of the previous year.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to decrease 17.2% from the same period last year to 47.3 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income grew 13.0% from the same period last year, reaching 40.5 billion yen.

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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, 2023 820,938 88,387 89,095 61,671 141.1 64.0 Oct 31, 2023 IFRS
Apr - Sep, 2024 901,817 85,904 76,301 49,878 114.2 48.0 Nov 1, 2024 IFRS
Apr - Sep, 2025 983,920 ー 102,789 67,647 150.1 ー Oct 30, 2025 IFRS
YoY +9.1% － +34.7% +35.6% +31.5%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2025 Guidance ー ー ー ー － 46 May 2, 2025 IFRS
Apr - Sep, 2025 Results 983,920 ー 102,789 67,647 150.1 46 Oct 30, 2025 IFRS
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, 2024 942,278 82,701 82,599 57,160 130.9 46 May 2, 2025 IFRS
Oct - Mar, 2025 Guidance 993,080 ー ー 47,353 109.1 46 Oct 30, 2025 IFRS
YoY +5.4% － － -17.2% -16.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 1,651,890 140,932 139,306 95,534 218.6 75 May 2, 2024 IFRS
Mar, 2025 1,844,095 168,605 158,900 107,038 245.1 86 May 2, 2025 IFRS
Mar, 2026 Guidance 1,977,000 ー ー 115,000 265.0 92 May 2, 2025 IFRS
YoY +7.2% － － +7.4% +8.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 477,752 66,296 55,101 35,894 82.2 13.9 Nov 1, 2024 IFRS
Oct - Dec, 2024 484,123 56,870 60,028 41,169 94.3 11.7 Feb 4, 2025 IFRS
Jan - Mar, 2025 458,155 25,831 22,571 15,991 36.6 5.6 May 2, 2025 IFRS
Apr - Jun, 2025 471,083 43,317 40,861 27,081 60.0 9.2 Jul 30, 2025 IFRS
Jul - Sep, 2025 512,837 ー 61,928 40,566 90.0 0.0 Oct 30, 2025 IFRS
YoY +7.3% － +12.4% +13.0% +9.6%

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