East Japan Railway Company (9020) Q1 2026 earnings summary

Executive summary

• Operating revenue rose 4.2% year-over-year to ¥715.3 billion, marking the fifth consecutive period of growth, driven by increased railway usage and higher sales at EKINAKA/station stores.

• Operating income declined 4.8% to ¥114.7 billion due to lower real estate sales profits and increased expenses, while net profit attributable to owners rose 7.4% to ¥78.6 billion, aided by gains on securities sales.

• All business segments reported revenue growth, though income declined in transportation, real estate & hotels, and other businesses due to higher costs; only retail and services achieved both increased revenue and income.

Financial highlights

• Operating income: ¥114.7 billion (−¥5.7 billion year-over-year); ordinary income: ¥98.9 billion (−¥7.4 billion year-over-year); EBITDA: ¥216.5 billion (−¥1.6 billion year-over-year).

• Profit attributable to owners: ¥78.6 billion (+¥5.3 billion year-over-year); comprehensive income rose 8.6% to ¥81.6 billion.

• Basic earnings per share increased to ¥69.56 from ¥64.79 year-over-year.

• Extraordinary gains rose by ¥20–23.3 billion year-over-year, mainly from investment securities sales; extraordinary losses increased by ¥3.3–4.5 billion, including support for regional transportation.

Outlook and guidance

• No revision to the full-year financial forecast; operating revenue forecast at ¥3,023.0 billion, operating income at ¥387.0 billion, and dividend planned at ¥62 per share.

• Long-term targets include operating revenue over ¥4 trillion and ROE of 10% or more by FY2032.3.