Keisei Electric Railway Co. (9009) Q1 2026 earnings summary

Executive summary

• Operating revenue rose 3.8% year-over-year to ¥83,334 million, but operating profit declined 19.7% to ¥10,101 million due to higher costs and restructuring expenses.

• Ordinary profit decreased 11.7% year-over-year to ¥15,679 million, and profit attributable to owners of parent fell 4.5% to ¥12,714 million.

• Comprehensive income increased 22.1% year-over-year to ¥16,579 million, reflecting gains in other comprehensive income.

• Group reorganization included mergers, new holding company structures for bus and taxi businesses, and system improvements.

Financial highlights

• Total assets reached ¥1,094,567 million, up slightly from the previous year; net assets increased to ¥533,909 million.

• Capital adequacy ratio improved to 47.3% from 46.5% at the previous fiscal year-end.

• Basic earnings per share for the quarter was ¥26.37, adjusted for a three-for-one stock split.

• Dividend forecast for FY2026 is ¥18.00 per share, unchanged from the previous year after adjusting for the stock split.

Outlook and guidance

• Full-year forecast for FY2026 maintained: operating revenue ¥331,600 million (+3.8% YoY), operating profit ¥31,100 million (–13.6%), ordinary profit ¥51,800 million (–16.1%), profit attributable to owners of parent ¥42,500 million (–39.3%).

• No revisions to previously announced forecasts; management will monitor trends and update if necessary.