Tokyo Gas (9531) Q2 2026 earnings summary

Executive summary

• Segment and net profits surged year-over-year, driven by higher energy solution profits, US shale gas gains, and extraordinary profits from asset divestments and FX gains.

• Net sales rose 10.3% year-over-year to ¥1,347,520 million, with electric power sales volume up despite a slight decline in city gas sales.

• Extraordinary gains included ¥68,013 million from reversal of foreign currency translation adjustment and significant asset divestments.

• Shareholder returns policy revised, with dividends per share raised to ¥100 and additional share buybacks planned.

Financial highlights

• Operating profit increased 141.8% to ¥95,294 million; segment profit up 128.3% to ¥92,900 million.

• Ordinary profit jumped 215.6% to ¥86,200 million; profit attributable to owners of parent soared 708.8% to ¥129,680 million.

• Basic earnings per share rose to ¥366.15 from ¥40.82 year-over-year.

• Total assets decreased by ¥189,931 million (4.9%) to ¥3,665,162 million, mainly due to lower receivables and mining rights.

• Net assets fell by ¥146,404 million (8.1%) to ¥1,655,066 million, reflecting dividend payments, treasury share purchases, and FX losses.

Outlook and guidance

• Full-year profit attributable to owners of parent forecast revised upward to ¥194,000 million, reflecting lower US subsidiary taxes and strong performance.

• Segment profit forecast unchanged; robust energy solution performance expected to offset declines in other segments.

• Dividend forecast for FY2026 is ¥100 per share, up from ¥80 per share in FY2025.