Tokyo Gas (9531) Q1 2026 earnings summary

Executive summary

• Adopted U.S. GAAP from FY2024, with prior results restated for comparability.

• FY2025 1Q net sales rose 10.3% year-over-year to ¥647,341 million, driven by higher gas and electric power sales volumes.

• Operating profit surged 141.4% to ¥62,523 million, and profit attributable to owners of parent jumped 438.7% to ¥101,727 million, aided by extraordinary profit.

• Comprehensive income turned negative at -¥65,919 million, mainly due to large losses in other comprehensive income.

Financial highlights

• FY2025 1Q net sales rose 10.3% year-over-year to 6,473 hundred million yen; operating profit up 141.4% to 625 hundred million yen.

• Profit attributable to owners of parent increased 438.7% year-over-year to 1,017 hundred million yen.

• Gross profit increased from ¥92,428 million to ¥132,552 million year-over-year.

• Basic earnings per share rose to ¥282.35 from ¥47.61 year-over-year.

• City gas and electricity sales volumes increased 2.1% and 18.6% year-over-year, respectively.

Outlook and guidance

• FY2025 full-year forecast: net sales 27,540 hundred million yen (+4.4% year-over-year), operating profit 1,590 hundred million yen (+19.5%), profit attributable to owners of parent 1,830 hundred million yen (+146.6%).

• ROE forecast at 11.1% for FY2025, up from 4.3% in FY2024.

• Ordinary profit forecast at ¥147,000 million (+29.4%).

• City gas sales volume expected to decrease 1.7% year-over-year; electricity sales volume to increase 17.7%.

• Dividend forecast for FY2025 is ¥80.00 per share, unchanged from the previous year.