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Tokyo Century (8439 ) investor relations material
Tokyo Century Q2 2027 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
H1 FY2027 revenue rose 12.5% YoY to ¥779.9bn and operating income increased 24.5% to ¥90.3bn; net income attributable to owners fell 26.2% to ¥68.5bn, mainly due to non-recurrence of prior-year Russia-related insurance proceeds.
Underlying net income, excluding extraordinary income and losses, rose ¥20.8bn YoY to ¥67.3bn, supported by aircraft and vessel sales and CSI secondary-market earnings.
FY2027 net income guidance increased to ¥145.0bn, including an expected ~¥38bn after-tax gain from transferring a 50% stake in TC Skyward Aviation U.S. to ITOCHU.
Financial highlights
H1 revenue was ¥779.9bn vs. ¥693.3bn; gross profit ¥185.9bn vs. ¥155.5bn; operating income ¥90.3bn vs. ¥72.5bn.
Ordinary income rose to ¥102.1bn from ¥77.2bn, supported by higher equity-method earnings; net income attributable to owners was ¥68.5bn vs. ¥92.8bn.
Basic EPS was ¥140.10 vs. ¥190.04 and diluted EPS was ¥139.72 vs. ¥189.35.
Comprehensive income was ¥121.3bn vs. ¥15.1bn, including ¥45.0bn of other comprehensive income, primarily from currency translation adjustments.
Outlook and guidance
FY2027 net income forecast rose from ¥123bn to ¥145bn; basic EPS forecast increased from ¥251.66 to ¥296.06.
Full-year common-stock dividend forecast increased to ¥104 per share from ¥90, including a ¥52 year-end dividend; payout ratio forecast is 35.1%.
The expected ~¥38bn net income contribution from the 50% TC Skyward Aviation U.S. transfer is conditional on planned November 2026 completion and may vary with foreign-exchange movements.
FY2030 targets include ¥200bn net income and 12.5% ROE; growth investments through FY2030 are planned to exceed ¥2tn, including ~¥1tn for M&A, ¥500bn for strategic partnerships and ¥500bn for other growth investments.
- Q1 FY2026 net income surged 59.1% YoY, driven by transport gains and strategic capital actions.8439
Q1 2027 - Targets ¥400 billion net income and 15%+ ROE by 2035 through innovation and global expansion.8439
Corporate presentation - Record FY2025 results driven by diversified finance, sustainability, and global partnerships.8439
Corporate presentation - Growth driven by specialty financing, global expansion, and strategic partnerships.8439
Investor presentation - Specialty Financing and Automobility drove record net income and improved ROE.8439
Q1 2025 - Net income surged 21.1% to ¥43.1 billion, led by Specialty Financing and improved ROE.8439
Q2 2025 - Net income up 26.3% YoY to ¥72.0B, led by Specialty Financing and International Business.8439
Q3 2025 - Record revenues, reduced leverage, and a young fleet drive strong growth outlook.8439
Investor presentation - Net income rose 18.2% with strong gains in Specialty Financing and International Business; growth continues.8439
Q4 2025
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