Odakyu Electric Railway (9007) investor relations material

Executive summary

• FY3/2026 operating revenue declined 0.9% year-over-year to ¥418.7 billion, while operating profit rose 2.4% to ¥52.7 billion and ordinary profit increased 7.0% to ¥54.0 billion, mainly driven by Transportation revenue growth.

• Profit attributable to owners of parent dropped 28.1% year-over-year to ¥37.4 billion, reflecting the absence of prior year extraordinary income from the UDS transfer.

• Comprehensive income decreased 7.2% year-over-year to ¥46.9 billion.

• Compared to forecasts, operating revenue and profit were lower due to Real Estate and Transportation expenses, but profit attributable to owners of parent exceeded expectations on higher non-operating and extraordinary income.

Financial highlights

• Operating revenue: ¥418.7 billion (down ¥3.97 billion, -0.9% YoY).

• Operating profit: ¥52.7 billion (up ¥1.23 billion, +2.4% YoY).

• Profit attributable to owners of parent: ¥37.4 billion (down ¥14.6 billion, -28.1% YoY).

• Ordinary profit: ¥54.0 billion (up 7.0% YoY).

• Basic earnings per share fell to ¥108.25 from ¥147.51 year-over-year.

• Total assets increased to ¥1,393.5 billion from ¥1,300.0 billion year-over-year.

• Net assets rose to ¥508.8 billion, with an equity ratio of 36.4%.

• Cash flows from operating activities were ¥61.0 billion, up from ¥55.9 billion year-over-year.

• Cash and cash equivalents at period end were ¥39.9 billion, up from ¥35.0 billion.

• Capital investments increased by ¥16.0 billion to ¥81.4 billion.

• Interest-bearing debt rose by ¥47.0 billion to ¥699.8 billion.

Outlook and guidance

• FY3/2027 forecasts: operating revenue to rise 10.2% to ¥461.3 billion, operating profit up 2.5% to ¥54.0 billion, and profit attributable to owners of parent up 2.5% to ¥38.3 billion.

• Growth expected from higher real estate unit sales and extraordinary profit from sale of cross-shareholdings.

• Annual dividend forecast raised to ¥60 per share for FY3/2027, up from ¥55.00.