Nankai Tatsumura Construction (1850) Q3 2026 earnings summary

Executive summary

• Operating revenue for the nine months ended December 31, 2025, rose 4.4% year-over-year to ¥195,392 million, with operating income up 17.0% to ¥34,171 million and profit attributable to owners of parent up 10.1% to ¥22,258 million.

• Comprehensive income surged 58.7% year-over-year to ¥34,312 million, reflecting strong performance and improved other comprehensive income.

• Record highs in operating revenue and profits were driven by EXPO 2025, increased inbound demand, and contributions from newly consolidated subsidiaries Meiko Bus and Tsutenkaku Kanko.

Financial highlights

• Operating revenue increased from ¥187,114 million to ¥195,392 million year-over-year; operating income rose from ¥29,206 million to ¥34,171 million; ordinary income grew from ¥30,624 million to ¥33,154 million.

• Net assets increased to ¥347,459 million from ¥329,865 million since March 31, 2025.

• Interest-bearing debt rose by ¥24.4 billion to ¥457.3 billion.

• Basic earnings per share for the nine months was ¥200.22, up from ¥178.49 year-over-year.

• Total assets grew to ¥1,023,407 million as of December 31, 2025.

Outlook and guidance

• Full-year operating revenue is forecast at ¥271,400 million, up 4.1% year-over-year, with operating income projected at ¥38,500 million and profit attributable to owners of parent expected at ¥22,600 million.

• Annual dividend forecast is ¥50.00 per share, up from ¥40.00 in the previous year.

• Continued strong performance is expected, supported by EXPO 2025 and robust inbound demand, particularly in transportation and real estate segments.