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Winner, Winner: The Chicken McNugget Story
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Tokyo Metro
Tokyo Metro (9023) investor relations material
Tokyo Metro Q2 2027 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2027 earnings summary30 Oct, 2026
Executive summary
H1 FY2027 revenue rose 3.2% YoY to ¥217,263m; operating profit fell 1.6% to ¥49,244m.
Attributable profit declined 16.3% to ¥29,234m, partly because a prior-year retirement benefit plan revision gain did not recur.
Full-year guidance is unchanged; first-half profits were generally in line with forecasts, though passenger revenue is running below plan.
Financial highlights
Operating revenue was ¥217,263m (+3.2%); passenger transportation revenue rose 3.0% to ¥180,975m.
Operating expenses increased 4.7% to ¥168,019m; operating profit fell 1.6% to ¥49,244m and ordinary profit fell 2.8% to ¥43,124m.
Comprehensive income declined 8.0% to ¥28,472m; prior-year extraordinary income included a ¥6,408m retirement benefit plan revision gain.
EBITDA increased 0.8% YoY to ¥87.1bn.
Outlook and guidance
FY2027 forecast: revenue ¥437,200m (+3.5%), operating profit ¥81,400m (-9.1%), ordinary profit ¥69,000m (-12.9%) and attributable profit ¥50,000m (-15.3%); unchanged.
Passenger transportation revenue is forecast at ¥365.0bn (+4.1%), but is expected to fall short amid fewer visitors from outside Greater Tokyo and adverse weather.
FY2027 dividend guidance remains ¥44 per share, comprising ¥22 interim and ¥22 year-end; forecast EPS is ¥86.11.
FY2028 railway expenses are expected to exceed FY2027 forecast levels, with operating profit potentially below FY2027; current medium-term targets are extremely challenging.
FY2028 dividend target is ¥46 per share, with a DOE target of ~3.4%.
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Latest events from Tokyo Metro
- Revenue up 2.8% YoY, profit down 24.7% YoY; outlook and dividend unchanged.9023
Q1 2027 - Revenue and profit growth exceeded forecasts, but FY2027 profit is expected to decline.9023Q4 2026
- Revenue up 3.5%, net income up 22.4%, outlook steady amid strong demand and rising costs.9023Q3 2026
- Revenue up 4.0% YoY, net income up 13.7%, with stable outlook and dividend forecast.9023Q2 2026
- Net income surged 23.5% year-over-year, driven by a one-time retirement benefit gain.9023Q1 2026
- Profits and revenues climbed on strong ridership, cost reforms, and segment growth.9023Q2 2025
- Revenue and profit surged on passenger recovery, with strong outlook and major investments ahead.9023Q4 2025
- Revenue and profit surged as ridership neared pre-pandemic levels, supporting a strong outlook.9023Q3 2025
Next Tokyo Metro earnings date
Q3 202729 Jan, 2027
Tokyo Metro
Next Tokyo Metro earnings date
Q3 202729 Jan, 2027
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Frequently asked questions
Tokyo Metro Co., Ltd. is a Japanese company operating a comprehensive subway network in Tokyo, providing public transportation services across the city and surrounding areas. Beyond transportation, Tokyo Metro engages in related businesses such as station retail, real estate ventures, and advertising. The company is headquartered in Tokyo, Japan.