Keisei Electric Railway Co. (9009) Q2 2026 earnings summary

Executive summary

• Operating revenue rose 4.2% year-over-year to ¥164,628 million for the six months ended September 30, 2025, while operating profit declined 5.8% to ¥20,802 million and ordinary profit fell 4.2% to ¥30,196 million. Profit attributable to owners of parent increased 10.4% to ¥23,723 million.

• Comprehensive income surged 56.0% year-over-year to ¥33,143 million, reflecting strong other comprehensive income contributions.

• The group implemented a new Medium-Term Business Plan (D2), completed a merger with Shin-Keisei Electric Railway, and reorganized its bus and taxi businesses under intermediate holding companies.

Financial highlights

• Total assets increased to ¥1,100,954 million, up 0.6% from March 31, 2025, mainly due to higher investment securities.

• Net assets rose 4.9% to ¥550,472 million, driven by higher retained earnings.

• Equity-to-asset ratio improved to 48.5% from 46.5% at the previous fiscal year-end.

• Basic earnings per share for the period was ¥49.20, reflecting a three-for-one stock split effective January 1, 2025.

Outlook and guidance

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

• Annual dividend forecast is ¥18.00 per share, with interim and year-end dividends of ¥9.00 each.