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East Japan Railway, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 6%, Dividend Revised Upward by 8 Yen

Thu Oct 30, 2025 3:30 pm JST Earnings

9020 East Japan Railway Company 【J-GAAP】

Earnings Report

East Japan Railway Company <9020> [TSE Prime] announced its financial results after the market closed on October 30th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) was 198 billion yen, a 2.7% decrease compared to the same period last year.

However, the full-year forecast for consolidated ordinary profit has been revised upward 5.6%, from the previous forecast of 323 billion yen to 341 billion yen (compared to 321 billion yen in the previous period), increasing the growth rate from 0.4% to 6.0%.

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 grow 21.4% from the same period last year, reaching 142 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 62 yen to 70 yen (compared to 60 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 99.9 billion yen, an increase of 1.9% compared to the same period last year. However, the operating profit margin decreased from 16.2% in the same period last year to 15.6%.

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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 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 63.6 Oct 31, 2024 J-GAAP
Apr - Sep, 2025 1,463,096 231,479 198,929 147,227 130.2 58.3 Oct 30, 2025 J-GAAP
YoY +4.9% -1.8% -2.7% +5.3% +5.4%

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 － 31 Apr 30, 2025 J-GAAP
Apr - Sep, 2025 Results 1,463,096 231,479 198,929 147,227 130.2 35 Oct 30, 2025 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, 2026 Prev 3,023,000 387,000 323,000 227,000 201.1 62 Apr 30, 2025 J-GAAP
Mar, 2026 New 3,058,000 405,000 341,000 237,000 210.0 70 Oct 30, 2025 J-GAAP
Revision Rate +1.2% +4.7% +5.6% +4.4% +4.4%

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 1,492,436 141,182 117,039 84,505 74.7 34 Apr 30, 2025 J-GAAP
Oct - Mar, 2025 Guidance 1,594,904 173,521 142,071 89,773 79.5 35 Oct 30, 2025 J-GAAP
YoY +6.9% +22.9% +21.4% +6.2% +6.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 2,730,118 345,161 296,631 196,449 173.8 46.67 Apr 30, 2024 J-GAAP
Mar, 2025 2,887,553 376,786 321,564 224,285 198.3 60 Apr 30, 2025 J-GAAP
Mar, 2026 Guidance 3,058,000 405,000 341,000 237,000 210.0 70 Oct 30, 2025 J-GAAP
YoY +5.9% +7.5% +6.0% +5.7% +5.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 708,447 115,074 98,056 66,480 58.8 16.2 Oct 31, 2024 J-GAAP
Oct - Dec, 2024 730,953 116,949 104,416 76,851 67.9 16.0 Feb 3, 2025 J-GAAP
Jan - Mar, 2025 761,483 24,233 12,623 7,654 6.8 3.2 Apr 30, 2025 J-GAAP
Apr - Jun, 2025 715,349 114,787 98,993 78,692 69.6 16.0 Jul 31, 2025 J-GAAP
Jul - Sep, 2025 747,747 116,692 99,936 68,535 60.6 15.6 Oct 30, 2025 J-GAAP
YoY +5.5% +1.4% +1.9% +3.1% +3.2%

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