Nankai Tatsumura Construction (1850) Q3 2025 earnings summary

Executive summary

• Achieved record high operating revenue and ordinary income, driven by increased passenger numbers and fare revision in the transportation segment.

• Operating revenue for the nine months ended December 31, 2024, rose 1.6% year-over-year to ¥187,114 million, with operating income up 9.1% to ¥29,206 million and ordinary income up 19.5% to ¥30,624 million.

• Profit attributable to owners of parent declined 7.7% year-over-year to ¥20,210 million, and basic earnings per share fell to ¥178.49 from ¥193.45.

Financial highlights

• Operating revenue rose 1.6% year-over-year to ¥187,114 million, and operating income increased 9.1% to ¥29,206 million.

• Ordinary income surged 19.5% to ¥30,624 million, aided by dividend income from a special-purpose company.

• Extraordinary income grew 64.5% to ¥9,268 million, while extraordinary losses rose sharply to ¥10,615 million.

• Comprehensive income for the nine months was ¥21,623 million, down 19.3% year-over-year.

• Cash and deposits decreased to ¥25,875 million from ¥43,286 million at the previous fiscal year-end.

Outlook and guidance

• Most condominium sales in the real estate segment are scheduled for delivery in the fourth quarter, expected to impact future results.

• Full-year operating revenue is forecast at ¥262,400 million, up 8.6% year-over-year, with operating income projected at ¥32,700 million (+6.1%) and profit attributable to owners of parent at ¥21,200 million (-11.4%).

• Annual dividend per share is forecast at ¥35.00, unchanged from the previous year.