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Kobe Electric Railway, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 4%, Dividend Revised Upward by 5 Yen

Thu Jan 29, 2026 3:30 pm JST Earnings

9046 Kobe Electric Railway Co.,Ltd. 【J-GAAP】

Earnings Report

Kobe Electric Railway Co.,Ltd. <9046> [TSE Prime] announced its financial results after the market closed on January 29th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2026 (April to December) increased 16.2% from the same period last year, reaching 1.99 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 3.8%, from the previous forecast of 1.59 billion yen to 1.65 billion yen (compared to 1.58 billion yen in the previous period), increasing the growth rate from 0.1% to 3.8%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (second half) has been revised upward 19.2%, from the previous forecast of 0.31 billion yen to 0.37 billion yen (compared to 0.50 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 38.3% to 26.4%.

In light of the strong performance, the company has increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 20 yen to 25 yen (compared to 20 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 13.1% from the same period last year, reaching 0.71 billion yen. The operating profit margin rose from 13.0% in the same period last year to 14.1%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Dec, 2023 16,492 1,802 1,467 1,151 143.3 108.0 Feb 6, 2024 J-GAAP
Apr - Dec, 2024 16,569 2,020 1,715 1,230 153.2 107.9 Feb 3, 2025 J-GAAP
Apr - Dec, 2025 17,385 2,401 1,993 1,377 174.1 120.8 Jan 29, 2026 J-GAAP
YoY +4.9% +18.9% +16.2% +12.0% +13.7%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2025 Prev 11,305 664 313 229 28.9 20 Oct 29, 2025 J-GAAP
Oct - Mar, 2025 New 11,525 684 373 529 66.9 25 Jan 29, 2026 J-GAAP
Revision Rate +1.9% +3.0% +19.2% +131.0% +131.0%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 22,770 2,230 1,590 1,110 140.3 20 May 13, 2025 J-GAAP
Mar, 2026 New 22,990 2,250 1,650 1,410 178.2 25 Jan 29, 2026 J-GAAP
Revision Rate +1.0% +0.9% +3.8% +27.0% +27.0%

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 11,166 717 507 367 45.8 20 May 13, 2025 J-GAAP
Oct - Mar, 2025 Guidance 11,525 684 373 529 66.9 25 Jan 29, 2026 J-GAAP
YoY +3.2% -4.6% -26.4% +44.1% +45.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 22,313 1,859 1,358 1,024 127.5 10 May 13, 2024 J-GAAP
Mar, 2025 22,131 2,006 1,589 1,150 143.6 20 May 13, 2025 J-GAAP
Mar, 2026 Guidance 22,990 2,250 1,650 1,410 178.2 25 Jan 29, 2026 J-GAAP
YoY +3.9% +12.2% +3.8% +22.6% +24.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 5,604 731 633 447 55.7 13.0 Feb 3, 2025 J-GAAP
Jan - Mar, 2025 5,562 -14 -126 -80 -10.0 -0.3 May 13, 2025 J-GAAP
Apr - Jun, 2025 5,782 973 821 578 73.1 16.8 Jul 30, 2025 J-GAAP
Jul - Sep, 2025 5,683 593 456 303 38.3 10.4 Oct 29, 2025 J-GAAP
Oct - Dec, 2025 5,920 835 716 496 62.7 14.1 Jan 29, 2026 J-GAAP
YoY +5.6% +14.2% +13.1% +11.0% +12.7%

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