Central Japan Railway Company (9022) Q2 2026 earnings summary

Executive summary

• Transportation revenues reached a record high, driven by strong passenger growth on both the Tokaido Shinkansen and conventional lines, resulting in increased consolidated operating revenues and income despite higher operating expenses.

• Operating revenues for the six months ended September 30, 2025, rose 12.4% year-over-year to ¥982.2 billion, with operating income up 24.3% to ¥454.1 billion and net income attributable to owners of the parent up 27.6% to ¥298.1 billion.

• Comprehensive income increased 49.7% year-over-year to ¥334.2 billion.

• Upward revision of full-year forecasts for both revenues and income, reflecting robust first-half results and positive business trends.

Financial highlights

• Consolidated operating revenues rose to ¥982.2 billion, up 12.4% year-over-year; operating income increased 24.3% to ¥454.1 billion.

• Net income attributable to owners of the parent grew 27.6% to ¥298.1 billion compared to the same period last year.

• Ordinary income grew 26.9% year-over-year to ¥425.7 billion.

• Net income per share (basic) was ¥305.12, up from ¥237.45 in the prior year period.

• Interim dividend set at ¥16 per share, with a year-end forecast of ¥16 per share; dividend forecast for fiscal 2026 raised to ¥32.00 per share.

Outlook and guidance

• Full-year consolidated operating revenues forecast revised upward to ¥1,940.0 billion, with operating income expected at ¥746.0 billion and net income at ¥480.0 billion.

• Net income per share (basic) forecast at ¥493.58 for fiscal 2026.

• Board approved an increase in share repurchase limit to ¥110 billion to enhance shareholder returns.