Keisei Electric Railway Co. (9009) Q4 2025 earnings summary

Executive summary

• Operating revenue rose 7.7% year-over-year to ¥319,314 million, with operating profit up 42.7% to ¥36,008 million and ordinary profit up 19.7% to ¥61,755 million.

• Profit attributable to owners of parent declined 20.2% to ¥69,961 million, mainly due to a decrease in gain on sale of shares of subsidiaries and associates.

• Major organizational changes included making Kanto Railway a wholly owned subsidiary, restructuring bus and taxi businesses, and merging with Shin-Keisei Electric Railway.

• Strategic alliance with AEON Co., Ltd. aims to enhance local community value and drive medium- to long-term corporate value.

Financial highlights

• Total assets increased 2.8% year-over-year to ¥1,094,120 million; net assets rose 11.8% to ¥524,658 million.

• Cash and cash equivalents at year-end decreased to ¥51,369 million from ¥82,328 million the previous year.

• Operating cash flow was ¥41,149 million, down from ¥60,045 million; investing cash flow was negative ¥9,245 million; financing cash flow was negative ¥62,869 million.

• Basic earnings per share was ¥143.46, down from ¥174.86 year-over-year (stock split adjusted).

• Capital adequacy ratio improved to 46.5% from 42.4% year-over-year.

Outlook and guidance

• No consolidated earnings forecast for FY2026 yet; company is assessing inbound demand, energy costs, and interest rate trends.

• New medium-term management plan “D2 Plan” and FY2026 forecast to be disclosed on May 21, 2025.