Keisei Electric Railway Co. (9009) investor relations material

Executive summary

• Operating revenue for the nine months ended December 31, 2025, rose 3.9% year-over-year to ¥247,574 million, while operating profit declined 4.1% to ¥31,535 million and profit attributable to owners of parent dropped 30.2% to ¥42,369 million, mainly due to a decrease in extraordinary gains from the prior year.

• The group implemented a new Medium-Term Business Plan (D2), reorganized its bus and taxi businesses under intermediate holding companies, and completed an absorption-type merger with Shin-Keisei Electric Railway.

• Major infrastructure and service improvements were made in the railway segment, including new train introductions, timetable revisions, and enhanced airport access.

Financial highlights

• Operating revenue: ¥247,574 million (up 3.9% YoY); operating profit: ¥31,535 million (down 4.1% YoY); ordinary profit: ¥51,275 million (down 2.7% YoY); profit attributable to owners of parent: ¥42,369 million (down 30.2% YoY).

• Basic earnings per share: ¥87.86 (down from ¥124.36 YoY, adjusted for stock split).

• Extraordinary income fell sharply due to the absence of large gains on sale of subsidiaries and affiliates recorded in the previous year.

• Comprehensive income: ¥60,008 million (down 2.2% YoY).

Outlook and guidance

• Full-year forecast (ending March 31, 2026): operating revenue ¥331,600 million (up 3.8% YoY), operating profit ¥31,100 million (down 13.6% YoY), ordinary profit ¥51,800 million (down 16.1% YoY), profit attributable to owners of parent ¥42,500 million (down 39.3% YoY), basic EPS ¥88.13.

• No revisions to previously announced forecasts; management will monitor trends and update if necessary.