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West Japan Railway, 21% Decrease in Ordinary Profit for The Current Fiscal Year, Increased Previous Year's Dividend by 7 Yen, Plan to Continue the 97.5 Yen Policy This Fiscal Year as Well

Thu Apr 30, 2026 3:30 pm JST Earnings

9021 West Japan Railway Company 【J-GAAP】

Earnings Report

West Japan Railway Company <9021> [TSE Prime] announced its financial results after the market closed on April 30th (15:30). The consolidated ordinary profit for the fiscal year ended March 2026 increased by 10.9% from the previous period to 183 billion yen. However, for the fiscal year ending March 2027, the consolidated ordinary profit is expected to decrease by 21.1% from the previous period to 145 billion yen.

At the same time, the company increased the annual dividend for the previous term from 90.5 yen to 97.5 yen (compared to 84.5 yen in the prior term), and has decided to continue with a dividend of 97.5 yen for the current term as well.

In the most recent three-month period, from January to March (4Q), the consolidated ordinary profit/loss turned to a loss of 1.09 billion yen (compared to a profit of 1.41 billion yen in the same period last year). The operating profit margin worsened from 1.0% in the same period last year to 0.2%.

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Actual Results

Historical Performance
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 1,635,023 179,748 167,382 98,761 202.6 71 Apr 30, 2024 J-GAAP
Mar, 2025 1,707,944 180,161 165,670 113,958 240.1 84.50 May 2, 2025 J-GAAP
Mar, 2026 1,845,840 198,081 183,682 127,499 277.7 97.50 Apr 30, 2026 J-GAAP
YoY +8.1% +9.9% +10.9% +11.9% +15.7%

Full Year Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Guidance 1,836,000 195,000 179,000 118,500 260.4 90.50 Nov 4, 2025 J-GAAP
Mar, 2026 Results 1,845,840 198,081 183,682 127,499 277.7 97.50 Apr 30, 2026 J-GAAP
Revision Rate +0.5% +1.6% +2.6% +7.6% +6.7%

Current Period Guidance

H1 Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2025 871,829 122,929 115,145 86,716 187.3 45 Nov 4, 2025 J-GAAP
Apr - Sep, 2026 Guidance ー ー ー ー － 48.50 Apr 30, 2026 J-GAAP
YoY － － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 1,707,944 180,161 165,670 113,958 240.1 84.50 May 2, 2025 J-GAAP
Mar, 2026 1,845,840 198,081 183,682 127,499 277.7 97.50 Apr 30, 2026 J-GAAP
Mar, 2027 Guidance 1,829,000 165,000 145,000 100,000 219.7 97.50 Apr 30, 2026 J-GAAP
YoY -0.9% -16.7% -21.1% -21.6% -20.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jan - Mar, 2025 462,267 4,817 1,416 -694 -1.5 1.0 May 2, 2025 J-GAAP
Apr - Jun, 2025 427,059 63,386 59,704 48,842 104.5 14.8 Aug 5, 2025 J-GAAP
Jul - Sep, 2025 444,770 59,543 55,441 37,874 81.8 13.4 Nov 4, 2025 J-GAAP
Oct - Dec, 2025 467,641 74,206 69,627 34,287 74.5 15.9 Feb 3, 2026 J-GAAP
Jan - Mar, 2026 506,370 946 -1,090 6,496 14.2 0.2 Apr 30, 2026 J-GAAP
YoY +9.5% -80.4% － － －

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