Keisei Electric Railway Co. (9009) investor relations material

Executive summary

• Operating revenue rose 4.1% year-over-year to ¥332,424 million, but operating profit fell 5.6% to ¥33,974 million and profit attributable to owners of parent dropped 31.4% to ¥48,023 million, mainly due to the absence of prior-year gains from sale of subsidiaries and associates.

• Major business restructuring included the absorption-type merger with Shin-Keisei Electric Railway and reorganization of bus and taxi businesses under intermediate holding companies.

• The company advanced infrastructure projects, expanded eco-friendly initiatives, and enhanced Narita Airport access, while also investing in human resources and system improvements.

Financial highlights

• Operating revenue: ¥332,424 million (+4.1% YoY); Operating profit: ¥33,974 million (–5.6% YoY); Ordinary profit: ¥58,605 million (–5.1% YoY); Profit attributable to owners of parent: ¥48,023 million (–31.4% YoY).

• Extraordinary income fell sharply to ¥4,688 million from ¥58,803 million last year, reflecting the absence of large gains on sale of shares.

• Total assets increased to ¥1,181,801 million (+8.0% YoY); Net assets rose to ¥575,605 million (+9.7% YoY).

• Cash and cash equivalents at year-end decreased to ¥34,227 million (–¥17,141 million YoY).

Outlook and guidance

• For FY2027, operating revenue is forecast to rise 8.2% to ¥359,800 million, but operating profit is expected to decline 8.8% to ¥31,000 million and profit attributable to owners of parent to fall 18.2% to ¥39,300 million, due to higher labor, electricity, and fuel costs.

• Annual dividend for FY2027 is projected at ¥22 per share.