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TOKYU, Ordinary Profit Forecast for the Fiscal Year Revised Upward to an Unexpected 7% Increase, Raises Record High Profit

Tue Nov 11, 2025 3:30 pm JST Earnings

9005 TOKYU CORPORATION 【J-GAAP】

Earnings Report

TOKYU CORPORATION <9005> [TSE Prime] announced its financial results after the market closed on November 11th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) increased 5.6% from the same period last year, reaching 70.1 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 8.8%, from the previous forecast of 106 billion yen to 115 billion yen (compared to 107 billion yen in the previous period), record profits reach three consecutive terms, turning to a 7.1% increase in the consolidated ordinary profit outlook.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow 9.6% from the same period last year, reaching 45.2 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased 38.0% from the same period last year, reaching 34.5 billion yen. The operating profit margin rose from 10.2% in the same period last year to 10.3%.

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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 483,468 45,533 49,688 35,029 57.9 50.0 Nov 8, 2023 J-GAAP
Apr - Sep, 2024 525,234 65,335 66,430 49,466 82.5 61.7 Nov 8, 2024 J-GAAP
Apr - Sep, 2025 518,986 58,880 70,146 56,236 98.1 60.8 Nov 11, 2025 J-GAAP
YoY -1.2% -9.9% +5.6% +13.7% +18.9%

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 ー ー ー ー － 14 May 14, 2025 J-GAAP
Apr - Sep, 2025 Results 518,986 58,880 70,146 56,236 98.1 14 Nov 11, 2025 J-GAAP
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 1,072,000 100,000 106,100 80,000 140.2 28 May 14, 2025 J-GAAP
Mar, 2026 New 1,085,000 104,000 115,400 84,000 147.2 28 Nov 11, 2025 J-GAAP
Revision Rate +1.2% +4.0% +8.8% +5.0% +5.0%

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 529,747 38,150 41,294 30,211 51.1 13 May 14, 2025 J-GAAP
Oct - Mar, 2025 Guidance 566,014 45,120 45,254 27,764 48.7 14 Nov 11, 2025 J-GAAP
YoY +6.8% +18.3% +9.6% -8.1% -4.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 1,037,819 94,905 99,292 63,935 106.1 17.50 May 13, 2024 J-GAAP
Mar, 2025 1,054,981 103,485 107,724 79,677 134.8 24 May 14, 2025 J-GAAP
Mar, 2026 Guidance 1,085,000 104,000 115,400 84,000 147.2 28 Nov 11, 2025 J-GAAP
YoY +2.8% +0.5% +7.1% +5.4% +9.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 252,154 25,741 25,039 19,613 32.7 10.2 Nov 8, 2024 J-GAAP
Oct - Dec, 2024 260,496 28,268 30,406 19,058 32.0 10.9 Feb 13, 2025 J-GAAP
Jan - Mar, 2025 269,251 9,882 10,888 11,153 18.9 3.7 May 14, 2025 J-GAAP
Apr - Jun, 2025 261,358 32,306 35,583 25,291 44.0 12.4 Aug 7, 2025 J-GAAP
Jul - Sep, 2025 257,628 26,574 34,563 30,945 54.0 10.3 Nov 11, 2025 J-GAAP
YoY +2.2% +3.2% +38.0% +57.8% +65.0%

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