East Japan Railway Company (9020) investor relations material

Executive summary

• Operating revenues for the first quarter reached a record high of ¥772.7 billion (+8.0% year-over-year), driven by increased passenger revenues and real estate leases, with all business segments contributing to growth.

• Operating income rose to ¥125.5 billion (+9.4%), and ordinary income to ¥106.8 billion (+8.0%), but profit attributable to owners of parent declined 13.6% to ¥68.0 billion due to lower gains on sales of investment securities.

• All business segments reported revenue growth, with notable contributions from transportation, retail & services, real estate & hotels, and others.

Financial highlights

• Operating revenues: ¥772.7 billion (+8.0% YoY); Operating income: ¥125.5 billion (+9.4% YoY); Ordinary income: ¥106.8 billion (+8.0% YoY); Profit attributable to owners of parent: ¥68.0 billion (-13.6% YoY).

• EBITDA improved to ¥234.1 billion (+8.1%).

• Comprehensive income: ¥58.0 billion (-28.9% YoY); EPS (basic): ¥60.24.

• Extraordinary gains decreased, and extraordinary losses increased, impacting net profit.

• Depreciation for the quarter: ¥108.6 billion.

Outlook and guidance

• Full-year forecasts remain unchanged: operating revenues projected at ¥3,295.0 billion (+6.8% YoY), operating income at ¥429.0 billion (+3.6%), ordinary income at ¥353.0 billion (+0.4%), profit attributable to owners of parent at ¥255.0 billion (+2.9%), and EPS ¥225.85.

• Interim and year-end dividend forecasts are both 42 yen per share; annual dividend forecast is ¥84.00 per share.

• No revisions to previously disclosed earnings or dividend forecasts.