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TOKYO GAS, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 13%

Fri Jan 30, 2026 2:15 pm JST Earnings

9531 TOKYO GAS CO.,LTD. 【J-GAAP】

Earnings Report

TOKYO GAS CO.,LTD. <9531> [TSE Prime] announced its financial results in the afternoon session on January 30th (14:15). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2026 (April to December) surged 2.1 times that of the same period last year, reaching 133 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 13.2%, from the previous forecast of 151 billion yen to 171 billion yen (compared to 113 billion yen in the previous period), increasing the growth rate from 32.9% to 50.5%.

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 30.9%, from the previous forecast of 64.7 billion yen to 84.7 billion yen (compared to 86.2 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 24.9% to 1.7%.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 25.0% from the same period last year, reaching 47.1 billion yen. The operating profit margin improved from 5.5% in the same period last year to 6.2%.

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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 1,902,621 162,868 170,545 115,555 277.0 76.6 Feb 2, 2024 J-GAAP
Apr - Dec, 2024 1,843,734 73,736 65,000 33,532 86.0 57.2 Jan 31, 2025 J-GAAP
Apr - Dec, 2025 2,039,636 138,257 133,335 166,268 474.5 78.0 Jan 30, 2026 J-GAAP
YoY +10.6% +87.5% +105.1% +395.8% +452.0%

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 1,491,480 70,706 64,797 64,320 189.2 50 Oct 29, 2025 J-GAAP
Oct - Mar, 2025 New 1,542,480 89,706 84,797 64,320 189.2 50 Jan 30, 2026 J-GAAP
Revision Rate +3.4% +26.9% +30.9% 0.0% 0.0%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 2,839,000 166,000 151,000 194,000 570.7 100 Oct 29, 2025 J-GAAP
Mar, 2026 New 2,890,000 185,000 171,000 194,000 570.7 100 Jan 30, 2026 J-GAAP
Revision Rate +1.8% +11.4% +13.2% 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 1,415,178 93,685 86,290 58,160 150.7 45 Apr 28, 2025 J-GAAP
Oct - Mar, 2025 Guidance 1,542,480 89,706 84,797 64,320 189.2 50 Jan 30, 2026 J-GAAP
YoY +9.0% -4.2% -1.7% +10.6% +25.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 2,662,420 217,143 222,766 165,481 401.1 70 Apr 25, 2024 J-GAAP
Mar, 2025 2,636,809 133,090 113,599 74,194 192.2 80 Apr 28, 2025 J-GAAP
Mar, 2026 Guidance 2,890,000 185,000 171,000 194,000 570.7 100 Jan 30, 2026 J-GAAP
YoY +9.6% +39.0% +50.5% +161.5% +196.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 622,103 34,331 37,691 17,498 44.9 5.5 Jan 31, 2025 J-GAAP
Jan - Mar, 2025 793,075 59,354 48,599 40,662 105.4 7.5 Apr 28, 2025 J-GAAP
Apr - Jun, 2025 647,341 62,523 57,137 101,727 282.4 9.7 Jul 30, 2025 J-GAAP
Jul - Sep, 2025 700,179 32,771 29,066 27,953 78.9 4.7 Oct 29, 2025 J-GAAP
Oct - Dec, 2025 692,116 42,963 47,132 36,588 104.4 6.2 Jan 30, 2026 J-GAAP
YoY +11.3% +25.1% +25.0% +109.1% +132.8%

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