West Japan Railway, Apr-Dec (Cumulative 3Q) Ordinary Profit Increases by 2%, Exceeds Full-Year Plan

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Fri Jan 31, 2025 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 January 31st (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) was 164 billion yen, a 2.0% increase compared to the same period last year. The progress rate toward the full-year plan of 155 billion yen is 105.6%, already exceeding the target and also exceeding the five-year average of 99.6%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the January to March period (4Q) is expected to turn into a loss of 8.75 billion yen (compared to a profit of 6.34 billion yen in the same period last year).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 4.9% from the same period last year, reaching 65.6 billion yen. The operating profit margin rose from 15.6% in the same period last year to 16.2%.

Kabutan News

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, 2022	974,845	69,995	59,833	87,372	179.3	81.3	Jan 31, 2023	J-GAAP
Apr - Dec, 2023	1,194,322	172,446	161,033	109,888	225.5	96.2	Jan 31, 2024	J-GAAP
Apr - Dec, 2024	1,245,677	175,344	164,254	114,652	240.8	105.6	Jan 31, 2025	J-GAAP
YoY	+4.3%	+1.7%	+2.0%	+4.3%	+6.8%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	865,121	73,456	68,924	31,618	64.9	42.25	Apr 30, 2024	J-GAAP
Oct - Mar, 2024 Guidance	906,614	65,210	56,904	30,289	64.4	37	Nov 1, 2024	J-GAAP
YoY	+4.8%	-11.2%	-17.4%	-4.2%	-0.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	1,395,531	83,970	73,619	88,528	181.6	62.50	Apr 28, 2023	J-GAAP
Mar, 2024	1,635,023	179,748	167,382	98,761	202.6	71	Apr 30, 2024	J-GAAP
Mar, 2025 Guidance	1,718,000	170,000	155,500	100,000	212.6	74	Nov 1, 2024	J-GAAP
YoY	+5.1%	-5.4%	-7.1%	+1.3%	+4.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	424,420	66,154	62,575	42,745	87.7	15.6	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	440,701	7,302	6,349	-11,127	-22.8	1.7	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	402,780	58,228	55,244	38,272	79.0	14.5	Aug 1, 2024	J-GAAP
Jul - Sep, 2024	408,606	46,562	43,352	31,439	65.7	11.4	Nov 1, 2024	J-GAAP
Oct - Dec, 2024	434,291	70,554	65,658	44,941	94.4	16.2	Jan 31, 2025	J-GAAP
YoY	+2.3%	+6.7%	+4.9%	+5.1%	+7.6%