Keisei Electric Railway Co. (9009) Q3 2025 earnings summary

Executive summary

• Operating revenue for the nine months ended December 31, 2024, rose 7.0% year-over-year to ¥238,187 million, with operating profit up 37.8% to ¥32,882 million and profit attributable to owners of parent up 68.6% to ¥60,680 million, driven by strong transportation demand and a gain on sale of shares of subsidiaries and associates.

• The company advanced its Medium-Term Business Plan D1, made Kanto Railway a wholly owned subsidiary, and entered a capital and business alliance with AEON Co., Ltd. for regional redevelopment.

Financial highlights

• Operating revenue: ¥238,187 million (up 7.0% YoY); operating profit: ¥32,882 million (up 37.8% YoY); ordinary profit: ¥52,704 million (up 15.6% YoY).

• Profit attributable to owners of parent: ¥60,680 million (up 68.6% YoY), reflecting a significant gain on sale of shares of subsidiaries and associates.

• Basic earnings per share: ¥124.36 (stock split adjusted).

• Extraordinary income of ¥54,266 million, mainly from gain on sale of shares; extraordinary losses of ¥15,455 million, mainly from loss on change in equity.

• Comprehensive income: ¥61,334 million (up from ¥39,272 million YoY).

Outlook and guidance

• Full-year forecast (ending March 31, 2025): operating revenue ¥337,600 million (up 13.9% YoY), operating profit ¥33,700 million (up 33.5% YoY), profit attributable to owners of parent ¥66,100 million (up 24.6% YoY), basic EPS ¥135.41 (stock split adjusted).

• Dividend forecast for FY2025: year-end dividend of ¥11.00 per share (including ¥5.00 special dividend), reflecting the three-for-one stock split.