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TOBU RAILWAY, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 3%

Wed Nov 5, 2025 3:30 pm JST Earnings

9001 TOBU RAILWAY CO.,LTD. 【J-GAAP】

Earnings Report

TOBU RAILWAY CO.,LTD. <9001> [TSE Prime] announced its financial results after the market closed on November 5th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) decreased 9.8% from the same period last year to 33.7 billion yen.

However, the full-year forecast for consolidated ordinary profit has been revised upward 3.2%, from the previous forecast of 62.0 billion yen to 64.0 billion yen (compared to 72.7 billion yen in the previous period), and the declining rate is expected to decrease from 14.7% to 12.0%.

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 decrease 14.3% from the same period last year to 30.2 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 14.8 billion yen, a 6.1% decrease compared to the same period last year. The operating profit margin decreased from 11.2% in the same period last year to 10.2%.

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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 308,582 39,087 38,200 26,375 127.6 53.0 Nov 2, 2023 J-GAAP
Apr - Sep, 2024 301,996 38,478 37,374 25,339 123.2 51.4 Nov 6, 2024 J-GAAP
Apr - Sep, 2025 310,753 35,584 33,726 24,022 121.7 52.7 Nov 5, 2025 J-GAAP
YoY +2.9% -7.5% -9.8% -5.2% -1.2%

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 － 32.50 Apr 30, 2025 J-GAAP
Apr - Sep, 2025 Results 310,753 35,584 33,726 24,022 121.7 32.50 Nov 5, 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 640,000 68,000 62,000 50,000 255.5 65 Apr 30, 2025 J-GAAP
Mar, 2026 New 650,000 69,000 64,000 51,500 263.2 65 Nov 5, 2025 J-GAAP
Revision Rate +1.6% +1.5% +3.2% +3.0% +3.0%

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 329,465 36,126 35,342 25,991 128.1 32.50 Apr 30, 2025 J-GAAP
Oct - Mar, 2025 Guidance 339,247 33,416 30,274 27,478 140.4 32.50 Nov 5, 2025 J-GAAP
YoY +3.0% -7.5% -14.3% +5.7% +9.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 635,964 73,883 72,033 48,164 233.0 55 Apr 30, 2024 J-GAAP
Mar, 2025 631,461 74,604 72,716 51,330 253.0 60 Apr 30, 2025 J-GAAP
Mar, 2026 Guidance 650,000 69,000 64,000 51,500 263.2 65 Nov 5, 2025 J-GAAP
YoY +2.9% -7.5% -12.0% +0.3% +4.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 152,082 17,082 15,774 10,448 50.8 11.2 Nov 6, 2024 J-GAAP
Oct - Dec, 2024 156,481 22,111 21,571 16,493 80.9 14.1 Feb 5, 2025 J-GAAP
Jan - Mar, 2025 172,984 14,015 13,771 9,498 46.8 8.1 Apr 30, 2025 J-GAAP
Apr - Jun, 2025 148,613 19,003 18,916 13,989 70.4 12.8 Aug 5, 2025 J-GAAP
Jul - Sep, 2025 162,140 16,581 14,810 10,033 50.8 10.2 Nov 5, 2025 J-GAAP
YoY +6.6% -2.9% -6.1% -4.0% +0.1%

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