Central Japan Railway Company (9022) Q3 2026 earnings summary

Executive summary

• Operating revenues for the nine months ended December 31, 2025, rose 10.7% year-over-year to ¥1,514,152 million, with net income attributable to owners up 21.9% to ¥459,232 million.

• Comprehensive income increased 34.7% year-over-year to ¥503,347 million.

• Transportation revenues were a key driver, increasing 11.8% year-over-year, supported by strong passenger demand and inbound tourism.

• Robust demand for the Tokaido Shinkansen continued, with passenger volume at 107% of FY2024 levels for the quarter and 111% cumulatively.

Financial highlights

• Consolidated operating income increased 19.3% year-over-year to ¥696,763 million, and ordinary income rose 21.4% to ¥656,815 million.

• Net income per share (basic) increased to ¥472.25 from ¥382.99 year-over-year.

• Total assets reached ¥10,605,151 million, and equity increased to ¥5,036,474 million.

• Depreciation and amortization for the period totaled ¥152,405 million.

• Non-consolidated operating revenues grew 11.6% to ¥1,265.3 billion, with net income up 21.4% to ¥433.9 billion.

Outlook and guidance

• Full-year forecast for fiscal 2026 projects operating revenues of ¥1,969,000 million (up 7.5%), operating income of ¥778,000 million (up 10.7%), and net income attributable to owners of ¥502,000 million (up 9.5%).

• Net income per share (basic) for the full year is forecast at ¥517.98.

• Dividend forecast for fiscal 2026 is ¥32.00 per share.

• Revised forecasts reflect a ¥32,000 million upward revision in operating revenues and operating income.