Nishi-Nippon Railroad, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 17%, Dividend Revised Upward by 10 Yen

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Thu Nov 13, 2025 4:00 pm JST Earnings

9031 Nishi-Nippon Railroad Co.,Ltd. 【J-GAAP】

Earnings Report

Nishi-Nippon Railroad Co.,Ltd. <9031> [TSE Prime] announced its financial results after the market closed on November 13th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) increased 8.8% from the same period last year, reaching 14.3 billion yen, resulting in an increase in profits compared to the previous forecast of a 17.5% decrease.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 16.9%, from the previous forecast of 23.6 billion yen to 27.6 billion yen (compared to 28.7 billion yen in the previous period), and the declining rate is expected to decrease from 17.9% to 4.0%.

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 14.9% from the same period last year to 13.2 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 40 yen to 50 yen (compared to 40 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew 25.8% from the same period last year, reaching 9.29 billion yen. The operating profit margin improved from 6.3% in the same period last year to 7.5%.

Kabutan News

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	197,156	10,777	10,564	10,968	139.2	43.1	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	208,118	12,671	13,211	9,254	118.2	46.0	Nov 14, 2024	J-GAAP
Apr - Sep, 2025	222,258	13,056	14,378	16,526	216.3	52.1	Nov 13, 2025	J-GAAP
YoY	+6.8%	+3.0%	+8.8%	+78.6%	+83.0%

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	223,400	10,500	10,900	12,400	164.3	20	May 9, 2025	J-GAAP
Apr - Sep, 2025 Results	222,258	13,056	14,378	16,526	216.3	25	Nov 13, 2025	J-GAAP
Revision Rate	-0.5%	+24.3%	+31.9%	+33.3%	+31.6%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2026 Prev	470,000	25,000	23,600	21,200	280.8	40	May 9, 2025	J-GAAP
Mar, 2026 New	476,500	27,000	27,600	25,000	331.1	50	Nov 13, 2025	J-GAAP
Revision Rate	+1.4%	+8.0%	+16.9%	+17.9%	+17.9%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024	235,377	13,984	15,528	11,556	148.4	22.50	May 9, 2025	J-GAAP
Oct - Mar, 2025 Guidance	254,242	13,944	13,222	8,474	112.2	25	Nov 13, 2025	J-GAAP
YoY	+8.0%	-0.3%	-14.9%	-26.7%	-24.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2024	411,649	25,877	24,538	24,723	314.0	40	May 10, 2024	J-GAAP
Mar, 2025	443,495	26,655	28,739	20,810	267.2	40	May 9, 2025	J-GAAP
Mar, 2026 Guidance	476,500	27,000	27,600	25,000	331.1	50	Nov 13, 2025	J-GAAP
YoY	+7.4%	+1.3%	-4.0%	+20.1%	+23.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2024	106,484	6,752	7,388	5,557	71.0	6.3	Nov 14, 2024	J-GAAP
Oct - Dec, 2024	108,616	8,780	9,201	6,906	88.5	8.1	Feb 13, 2025	J-GAAP
Jan - Mar, 2025	126,761	5,204	6,327	4,650	59.7	4.1	May 9, 2025	J-GAAP
Apr - Jun, 2025	103,628	4,105	5,081	6,477	83.8	4.0	Aug 7, 2025	J-GAAP
Jul - Sep, 2025	118,630	8,951	9,297	10,049	131.5	7.5	Nov 13, 2025	J-GAAP
YoY	+11.4%	+32.6%	+25.8%	+80.8%	+85.3%