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Japan Airlines, Net Income Forecast for the Fiscal Year Revised Upward by 7%, Dividend Revised Upward by 4 Yen

Mon Mar 2, 2026 3:30 pm JST Revision

9201 Japan Airlines Co., Ltd. 【IFRS】

Guidance Update Report

Japan Airlines Co., Ltd. <9201> [TSE Prime] announced a revision to its performance and dividend after the market closed on March 2nd (15:30). The consolidated net income forecast for the fiscal year ending March 2026 has been revised upward 7.0%, from the previous forecast of 115 billion yen to 123 billion yen (compared to 107 billion yen in the previous period), increasing the growth rate from 7.4% to 14.9%.

Based on the upwardly revised full-year plan announced by the company, our calculation indicates that the October to March period (second half) consolidated net income has been revised upward 16.9%, from the previous forecast of 47.3 billion yen to 55.3 billion yen (compared to 57.1 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 17.2% to 3.2%.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 92 yen to 96 yen (compared to 86 yen in the previous period).

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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 993,080 ー ー 47,353 110.2 46 Oct 30, 2025 IFRS
Oct - Mar, 2025 New 1,016,080 ー ー 55,353 128.8 50 Mar 2, 2026 IFRS
Revision Rate +2.3% － － +16.9% +16.9%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 1,977,000 ー ー 115,000 267.6 92 May 2, 2025 IFRS
Mar, 2026 New 2,000,000 ー ー 123,000 286.2 96 Mar 2, 2026 IFRS
Revision Rate +1.2% － － +7.0% +7.0%

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 942,278 82,701 82,599 57,160 130.9 46 May 2, 2025 IFRS
Oct - Mar, 2025 Guidance 1,016,080 ー ー 55,353 128.8 50 Mar 2, 2026 IFRS
YoY +7.8% － － -3.2% -1.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 1,651,890 140,932 139,306 95,534 218.6 75 May 2, 2024 IFRS
Mar, 2025 1,844,095 168,605 158,900 107,038 245.1 86 May 2, 2025 IFRS
Mar, 2026 Guidance 2,000,000 ー ー 123,000 286.2 96 Mar 2, 2026 IFRS
YoY +8.5% － － +14.9% +16.8%

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