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Central Japan Railway Company, The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 3% Increase

Tue Oct 29, 2024 3:30 pm JST Earnings

9022 Central Japan Railway Company 【J-GAAP】

Earnings Report

Central Japan Railway Company <9022> [TSE-P] announced its financial results after the market closed on October 29th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 20.4% from the same period last year, reaching 335 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 3.3%, from the previous forecast of 545 billion yen to 563 billion yen (compared to 546 billion yen in the previous period), turning to a 2.9% 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 decrease by 15.2% from the same period last year to 227 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 10.0% from the same period last year, reaching 164 billion yen. The operating profit margin rose from 39.2% in the same period last year to 41.2%.

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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, 2022 634,139 171,926 136,290 96,949 98.5 44.3 Oct 31, 2022 J-GAAP
Apr - Sep, 2023 817,545 312,092 278,623 195,079 198.3 50.9 Oct 30, 2023 J-GAAP
Apr - Sep, 2024 873,865 365,209 335,467 233,647 237.5 59.6 Oct 29, 2024 J-GAAP
YoY +6.9% +17.0% +20.4% +19.8% +19.8%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 Guidance ー ー ー ー － 15 Apr 30, 2024 J-GAAP
Apr - Sep, 2024 Results 873,865 365,209 335,467 233,647 237.5 15 Oct 29, 2024 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, 2025 Prev 1,740,000 608,000 545,000 381,000 387.2 30 Apr 30, 2024 J-GAAP
Mar, 2025 New 1,762,000 624,000 563,000 392,000 398.4 30 Oct 29, 2024 J-GAAP
Revision Rate +1.3% +2.6% +3.3% +2.9% +2.9%

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 892,862 295,289 268,323 189,332 192.4 15 Apr 30, 2024 J-GAAP
Oct - Mar, 2024 Guidance 888,135 258,791 227,533 158,353 160.9 15 Oct 29, 2024 J-GAAP
YoY -0.5% -12.4% -15.2% -16.4% -16.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 1,400,285 374,503 307,485 219,417 223.0 27 Apr 26, 2023 J-GAAP
Mar, 2024 1,710,407 607,381 546,946 384,411 390.7 29 Apr 30, 2024 J-GAAP
Mar, 2025 Guidance 1,762,000 624,000 563,000 392,000 398.4 30 Oct 29, 2024 J-GAAP
YoY +3.0% +2.7% +2.9% +2.0% +2.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 422,454 165,574 149,280 104,530 106.2 39.2 Oct 30, 2023 J-GAAP
Oct - Dec, 2023 455,472 190,505 176,492 123,691 125.7 41.8 Jan 30, 2024 J-GAAP
Jan - Mar, 2024 437,390 104,784 91,831 65,641 66.7 24.0 Apr 30, 2024 J-GAAP
Apr - Jun, 2024 435,290 184,327 171,278 119,786 121.7 42.3 Jul 30, 2024 J-GAAP
Jul - Sep, 2024 438,575 180,882 164,189 113,861 115.7 41.2 Oct 29, 2024 J-GAAP
YoY +3.8% +9.2% +10.0% +8.9% +8.9%

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