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Hiroshima Electric Railway, Ordinary Profit Forecast for the Fiscal Year Loss to Narrow

Fri Nov 14, 2025 1:30 pm JST Earnings

9033 Hiroshima Electric Railway Co.,Ltd. 【J-GAAP】

Earnings Report

Hiroshima Electric Railway Co.,Ltd. <9033> [TSE Std] announced its financial results in the afternoon session on November 14th (13:30). The consolidated ordinary loss for the cumulative second quarter of the fiscal year ending March 2026 (April to September) was a reduced loss of 0.36 billion yen (compared to a loss of 0.49 billion yen in the same period last year).

In addition, the full-year forecast for consolidated ordinary profit/loss has been revised upward from an expected loss of 0.42 billion yen to a loss of 0.30 billion yen (compared to a loss of 1.24 billion yen in the previous period), indicating a reduction in the loss margin.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to March period (second half) is expected to turn into a profit of 0.06 billion yen (compared to a loss of 0.75 billion yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary loss expanded to a loss of 0.47 billion yen (compared to a loss of 0.47 billion yen in the same period last year). However, the operating profit/loss margin remained almost flat, changing from -5.4% in the same period last year to -5.2%.

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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 14,174 -167 -149 234 7.7 ー Nov 13, 2023 J-GAAP
Apr - Sep, 2024 16,373 -588 -490 -335 -11.1 ー Nov 13, 2024 J-GAAP
Apr - Sep, 2025 15,885 -475 -361 -24 -0.8 ー Nov 14, 2025 J-GAAP
YoY -3.0% +19.2% +26.3% +92.8% +92.8%

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 15,885 -475 -361 -24 -0.8 0 Nov 10, 2025 J-GAAP
Apr - Sep, 2025 Results 15,885 -475 -361 -24 -0.8 0 Nov 14, 2025 J-GAAP
Revision Rate 0.0% 0.0% 0.0% 0.0% -1.3%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 35,560 -610 -420 1,350 44.4 8 May 14, 2025 J-GAAP
Mar, 2026 New 35,700 -450 -300 1,350 44.4 8 Nov 14, 2025 J-GAAP
Revision Rate +0.4% +26.2% +28.6% 0.0% 0.0%

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 17,336 -831 -753 1,714 56.5 8 May 14, 2025 J-GAAP
Oct - Mar, 2025 Guidance 19,815 25 61 1,374 45.2 8 Nov 14, 2025 J-GAAP
YoY +14.3% － － -19.8% -19.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 30,466 -1,088 -970 656 21.6 6 May 14, 2024 J-GAAP
Mar, 2025 33,709 -1,419 -1,243 1,379 45.4 8 May 14, 2025 J-GAAP
Mar, 2026 Guidance 35,700 -450 -300 1,350 44.4 8 Nov 14, 2025 J-GAAP
YoY +5.9% +68.3% +75.9% -2.1% -2.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 8,372 -448 -472 -356 -11.7 -5.4 Nov 13, 2024 J-GAAP
Oct - Dec, 2024 8,090 -295 -179 -103 -3.4 -3.6 Feb 13, 2025 J-GAAP
Jan - Mar, 2025 9,246 -536 -574 1,817 59.9 -5.8 May 14, 2025 J-GAAP
Apr - Jun, 2025 7,889 -56 114 123 4.1 -0.7 Aug 8, 2025 J-GAAP
Jul - Sep, 2025 7,996 -419 -475 -147 -4.9 -5.2 Nov 14, 2025 J-GAAP
YoY -4.5% +6.5% -0.6% +58.7% +58.3%

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