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Nankai Electric Railway, Ordinary Profit Forecast for the Fiscal Year Revised Upward to an Unexpected 1% Increase, Raises Record High Profit

Fri Oct 31, 2025 2:00 pm JST Earnings

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

Earnings Report

Nankai Electric Railway Co.,Ltd. <9044> [TSE Prime] announced its financial results in the afternoon session on October 31st (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) increased 4.6% from the same period last year, reaching 20.7 billion yen, resulting in an increase in profits compared to the previous forecast of a 9.2% decrease.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 6.8%, from the previous forecast of 33.6 billion yen to 35.9 billion yen (compared to 35.5 billion yen in the previous period), record profits reach two consecutive terms, turning to a 0.9% increase in the consolidated ordinary profit outlook.

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 3.8% from the same period last year to 15.1 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 9.54 billion yen, a 5.2% decrease compared to the same period last year. However, the operating profit margin rose from 13.1% in the same period last year to 16.3%.

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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 117,672 14,237 13,268 8,867 78.3 45.3 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 123,579 18,256 19,822 12,550 110.8 55.7 Oct 30, 2024 J-GAAP
Apr - Sep, 2025 126,516 21,683 20,741 14,084 125.6 57.8 Oct 31, 2025 J-GAAP
YoY +2.4% +18.8% +4.6% +12.2% +13.3%

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 127,400 19,300 18,000 12,600 114.9 25 Jul 30, 2025 J-GAAP
Apr - Sep, 2025 Results 126,516 21,683 20,741 14,084 125.6 25 Oct 31, 2025 J-GAAP
Revision Rate -0.7% +12.3% +15.2% +11.8% +9.3%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 271,200 36,600 33,600 21,700 199.0 50 Jul 30, 2025 J-GAAP
Mar, 2026 New 271,400 38,500 35,900 22,600 207.3 50 Oct 31, 2025 J-GAAP
Revision Rate +0.1% +5.2% +6.8% +4.1% +4.1%

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 137,208 16,399 15,750 9,946 87.9 22.50 Apr 30, 2025 J-GAAP
Oct - Mar, 2025 Guidance 144,884 16,817 15,159 8,516 78.1 25 Oct 31, 2025 J-GAAP
YoY +5.6% +2.5% -3.8% -14.4% -11.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 241,594 30,820 29,312 23,926 211.3 35 Apr 30, 2024 J-GAAP
Mar, 2025 260,787 34,655 35,572 22,496 198.7 40 Apr 30, 2025 J-GAAP
Mar, 2026 Guidance 271,400 38,500 35,900 22,600 207.3 50 Oct 31, 2025 J-GAAP
YoY +4.1% +11.1% +0.9% +0.5% +4.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 63,857 8,380 10,068 5,832 51.5 13.1 Oct 30, 2024 J-GAAP
Oct - Dec, 2024 63,535 10,950 10,802 7,660 67.7 17.2 Jan 30, 2025 J-GAAP
Jan - Mar, 2025 73,673 5,449 4,948 2,286 20.2 7.4 Apr 30, 2025 J-GAAP
Apr - Jun, 2025 62,713 11,295 11,199 7,599 67.1 18.0 Jul 30, 2025 J-GAAP
Jul - Sep, 2025 63,803 10,388 9,542 6,485 57.8 16.3 Oct 31, 2025 J-GAAP
YoY -0.1% +24.0% -5.2% +11.2% +12.2%

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