Announcement • Jun 04
Central Japan Railway Company to Report Q1, 2027 Results on Jul 31, 2026 Central Japan Railway Company announced that they will report Q1, 2027 results on Jul 31, 2026 Live News • May 20
JR Central Announces Leadership Shakeup and Board Restructuring Ahead of 2026 Meeting Central Japan Railway plans to appoint Ataru Kimura and Atsushi Tsujimura as new representative directors following the June 2026 shareholders’ meeting.
The company is rotating executive vice presidents and reorganising leadership across its Shinkansen, maglev and regional business units.
Outside director Masako Ii will join the board as part of a broader governance reshuffle.
This leadership overhaul signals an effort to refresh governance and decision-making at a time when execution on high-speed rail and the Chuo Shinkansen projects remains a key focus for the company.
For investors, the main points to watch are how the new board and executive structure influence capital allocation, project timelines and risk management around large-scale rail investments. Reported Earnings • Apr 29
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥571 (up from JP¥466 in FY 2025). Revenue: JP¥2.01t (up 9.5% from FY 2025). Net income: JP¥552.9b (up 21% from FY 2025). Profit margin: 28% (up from 25% in FY 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.9%. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Apr 29
Central Japan Railway Company, Annual General Meeting, Jun 23, 2026 Central Japan Railway Company, Annual General Meeting, Jun 23, 2026. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥16.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 26 June 2026. Payout ratio is a comfortable 5.8% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (1.9%). Announcement • Feb 21
Central Japan Railway Company to Report Fiscal Year 2026 Results on Apr 28, 2026 Central Japan Railway Company announced that they will report fiscal year 2026 results on Apr 28, 2026 Reported Earnings • Feb 03
Third quarter 2026 earnings: EPS and revenues exceed analyst expectations Third quarter 2026 results: EPS: JP¥167 (up from JP¥146 in 3Q 2025). Revenue: JP¥532.0b (up 7.6% from 3Q 2025). Net income: JP¥161.1b (up 13% from 3Q 2025). Profit margin: 30% (up from 29% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.2%. Earnings per share (EPS) also surpassed analyst estimates by 29%. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Feb 03
Central Japan Railway Company Provides Consolidated and Non-Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2026 Central Japan Railway Company provided consolidated and non-consolidated earnings guidance for the fiscal year ending March 31, 2026. For the year, on consolidated basis, the company expects Operating revenues to be JPY 1,969,000 Million, Operating income to be JPY 778,000 Million, Net income attributable to owners of the parent to be JPY 502,000 Million, and Net income per share - basic to be JPY 517.98. On non-consolidated basis, the company operating revenues to be JPY 1,638,000 million. Operating income to be JPY 734,000 million. Net income to be JPY 474,000 million. Basic net income per share to be JPY 488.58. Announcement • Dec 04
Central Japan Railway Company to Report Q3, 2026 Results on Feb 02, 2026 Central Japan Railway Company announced that they will report Q3, 2026 results on Feb 02, 2026 Declared Dividend • Dec 02
First half dividend of JP¥16.00 announced Shareholders will receive a dividend of JP¥16.00. Ex-date: 30th March 2026 Payment date: 26th June 2026 Dividend yield will be 0.7%, which is lower than the industry average of 1.3%. Payout Ratios Payout ratio: 6%. Cash payout ratio: 12%. Reported Earnings • Oct 30
Second quarter 2026 earnings: EPS and revenues exceed analyst expectations Second quarter 2026 results: EPS: JP¥157 (up from JP¥116 in 2Q 2025). Revenue: JP¥503.9b (up 15% from 2Q 2025). Net income: JP¥152.9b (up 34% from 2Q 2025). Profit margin: 30% (up from 26% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) also surpassed analyst estimates by 1.3%. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Oct 30
Central Japan Railway Company Announces Dividend for the Second Quarter-End of the Fiscal Year Ending March 31, 2026, Payable on December 1, 2025 Central Japan Railway Company announced dividend of JPY 16.00 per share for the second quarter-end of the fiscal year ending March 31, 2026 against JPY 15.00 per share paid a year ago. Expected Date of Dividend Payment Commencement is December 1, 2025. Announcement • Oct 29
Central Japan Railway Company Provides Consolidated and Nonconsolidated Earnings Guidance for the Year Ending March 31, 2026 Central Japan Railway Company provided consolidated and nonconsolidated earnings guidance for the year ending March 31, 2026. For the year, on consolidated basis, the company expects operating revenues to be JPY 1,937,000 million. Operating income to be JPY 746,000 million. Net income attributable to owners of the parent to be JPY 480,000 million. Basic net income per share to be JPY 493.58.
For the year, on nonconsolidated basis, the company expects operating revenues to be JPY 1,606,000 million. Operating income to be JPY 702,000 million. Net income to be JPY 452,000 million. Basic net income per share to be JPY 464.31. Announcement • Aug 14
Central Japan Railway Company to Report Q2, 2026 Results on Oct 29, 2025 Central Japan Railway Company announced that they will report Q2, 2026 results on Oct 29, 2025 Reported Earnings • Jul 30
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: JP¥149 (up from JP¥122 in 1Q 2025). Revenue: JP¥478.3b (up 9.9% from 1Q 2025). Net income: JP¥145.2b (up 21% from 1Q 2025). Profit margin: 30% (up from 28% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 09
Final dividend of JP¥16.00 announced Shareholders will receive a dividend of JP¥16.00. Ex-date: 29th September 2025 Payment date: 2nd December 2025 Dividend yield will be 1.0%, which is lower than the industry average of 1.3%. Payout Ratios Payout ratio: 7%. Cash payout ratio: 20%. Reported Earnings • Jun 29
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥466 (up from JP¥391 in FY 2024). Revenue: JP¥1.83t (up 7.1% from FY 2024). Net income: JP¥458.4b (up 19% from FY 2024). Profit margin: 25% (up from 23% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 8.3%. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • May 31
Central Japan Railway Company to Report Q1, 2026 Results on Jul 29, 2025 Central Japan Railway Company announced that they will report Q1, 2026 results on Jul 29, 2025 Reported Earnings • May 01
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥466 (up from JP¥391 in FY 2024). Revenue: JP¥1.83t (up 7.1% from FY 2024). Net income: JP¥458.4b (up 19% from FY 2024). Profit margin: 25% (up from 23% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 8.3%. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • May 01
Central Japan Railway Company (TSE:9022) announces an Equity Buyback for 45,000,000 shares, representing 4.57% for ¥100,000 million. Central Japan Railway Company (TSE:9022) announces a share repurchase program. Under the program, the company will repurchase up to 45,000,000 shares, representing 4.57% of its share capital, for ¥100,000 million. The purpose of the program is to enhance shareholders returns and improve capital efficiency. The program will expire on February 27, 2026. As of March 31, 2025, the company had 985,003,130 shares in issue (excluding treasury shares) and 44,996,870 shares in treasury. Announcement • Apr 30
Central Japan Railway Company, Annual General Meeting, Jun 25, 2025 Central Japan Railway Company, Annual General Meeting, Jun 25, 2025. New Risk • Mar 31
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.8% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Earnings are forecast to decline by an average of 0.8% per year for the foreseeable future. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 24 June 2025. Payout ratio is a comfortable 6.7% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (1.7%). Announcement • Feb 28
Central Japan Railway Company to Report Fiscal Year 2025 Results on Apr 30, 2025 Central Japan Railway Company announced that they will report fiscal year 2025 results on Apr 30, 2025 Reported Earnings • Feb 04
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: JP¥146 (up from JP¥126 in 3Q 2024). Revenue: JP¥494.2b (up 8.5% from 3Q 2024). Net income: JP¥143.2b (up 16% from 3Q 2024). Profit margin: 29% (up from 27% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Dec 07
Central Japan Railway Company to Report Q3, 2025 Results on Feb 03, 2025 Central Japan Railway Company announced that they will report Q3, 2025 results on Feb 03, 2025 Declared Dividend • Dec 03
First half dividend of JP¥15.00 announced Shareholders will receive a dividend of JP¥15.00. Ex-date: 28th March 2025 Payment date: 24th June 2025 Dividend yield will be 1.0%, which is lower than the industry average of 1.3%. Payout Ratios Payout ratio: 7%. Cash payout ratio: 17%. Reported Earnings • Oct 31
Second quarter 2025 earnings: EPS exceeds analyst expectations Second quarter 2025 results: EPS: JP¥116 (up from JP¥106 in 2Q 2024). Revenue: JP¥438.6b (up 3.8% from 2Q 2024). Net income: JP¥113.9b (up 8.9% from 2Q 2024). Profit margin: 26% (up from 25% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.9%. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 6.9% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (1.6%). Announcement • Aug 15
Central Japan Railway Company to Report Q2, 2025 Results on Oct 29, 2024 Central Japan Railway Company announced that they will report Q2, 2025 results on Oct 29, 2024 Reported Earnings • Aug 01
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: JP¥122 (up from JP¥92.02 in 1Q 2024). Revenue: JP¥435.3b (up 10% from 1Q 2024). Net income: JP¥119.8b (up 32% from 1Q 2024). Profit margin: 28% (up from 23% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) also surpassed analyst estimates by 7.6%. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Jul 17
Central Japan Railway Company (TSE:9022) agreed to acquire ADDIX Inc. Central Japan Railway Company (TSE:9022) agreed to acquire ADDIX Inc on July 4, 2024.
The expected completion of the transaction is August 1, 2024. Declared Dividend • Jul 11
Final dividend of JP¥15.00 announced Shareholders will receive a dividend of JP¥15.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 0.9%, which is lower than the industry average of 1.3%. Payout Ratios Payout ratio: 7%. Cash payout ratio: 11%. Reported Earnings • Jun 26
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥391 (up from JP¥223 in FY 2023). Revenue: JP¥1.71t (up 22% from FY 2023). Net income: JP¥384.4b (up 75% from FY 2023). Profit margin: 23% (up from 16% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 01
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥391 (up from JP¥223 in FY 2023). Revenue: JP¥1.71t (up 22% from FY 2023). Net income: JP¥384.4b (up 75% from FY 2023). Profit margin: 23% (up from 16% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • May 01
Central Japan Railway Company, Annual General Meeting, Jun 21, 2024 Central Japan Railway Company, Annual General Meeting, Jun 21, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥14.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 26 June 2024. Payout ratio is a comfortable 7.7% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (1.2%). Announcement • Mar 02
Central Japan Railway Company to Report Fiscal Year 2024 Results on Apr 30, 2024 Central Japan Railway Company announced that they will report fiscal year 2024 results on Apr 30, 2024 Reported Earnings • Feb 02
Third quarter 2024 earnings released: EPS: JP¥126 (vs JP¥85.07 in 3Q 2023) Third quarter 2024 results: EPS: JP¥126 (up from JP¥85.07 in 3Q 2023). Revenue: JP¥455.5b (up 18% from 3Q 2023). Net income: JP¥123.7b (up 48% from 3Q 2023). Profit margin: 27% (up from 22% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Dec 07
Central Japan Railway Company to Report Q3, 2024 Results on Jan 30, 2024 Central Japan Railway Company announced that they will report Q3, 2024 results on Jan 30, 2024 Reported Earnings • Nov 01
Second quarter 2024 earnings: Revenues exceed analyst expectations Second quarter 2024 results: Revenue: JP¥422.5b (up 30% from 2Q 2023). Net income: JP¥104.5b (up 109% from 2Q 2023). Profit margin: 25% (up from 15% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.7%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Transportation industry in Japan. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥70.00 per share at 0.7% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 01 December 2023. Payout ratio is a comfortable 10% and the cash payout ratio is 78%. Trailing yield: 0.7%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (1.2%). Announcement • Aug 06
Central Japan Railway Company to Report Q2, 2024 Results on Oct 30, 2023 Central Japan Railway Company announced that they will report Q2, 2024 results on Oct 30, 2023 Reported Earnings • Jul 29
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: JP¥460 (up from JP¥239 in 1Q 2023). Revenue: JP¥395.1b (up 28% from 1Q 2023). Net income: JP¥90.5b (up 93% from 1Q 2023). Profit margin: 23% (up from 15% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 8.0%. Earnings per share (EPS) also surpassed analyst estimates significantly. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Jun 01
Central Japan Railway Company to Report Q1, 2024 Results on Jul 28, 2023 Central Japan Railway Company announced that they will report Q1, 2024 results on Jul 28, 2023 Reported Earnings • Apr 28
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: JP¥1,115 (up from JP¥264 loss in FY 2022). Revenue: JP¥1.40t (up 50% from FY 2022). Net income: JP¥219.4b (up JP¥271.3b from FY 2022). Profit margin: 16% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 20%. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥65.00 per share at 0.8% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 26 June 2023. Payout ratio is a comfortable 18% but the company is not cash flow positive. Trailing yield: 0.8%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (1.2%). Reported Earnings • Jan 31
Third quarter 2023 earnings: EPS exceeds analyst expectations Third quarter 2023 results: EPS: JP¥425 (up from JP¥163 in 3Q 2022). Revenue: JP¥385.0b (up 29% from 3Q 2022). Net income: JP¥83.7b (up 161% from 3Q 2022). Profit margin: 22% (up from 11% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 40%. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Announcement • Dec 01
Central Japan Railway Company to Report Q3, 2023 Results on Jan 30, 2023 Central Japan Railway Company announced that they will report Q3, 2023 results on Jan 30, 2023 Board Change • Nov 16
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Outside Director Tsuyoshi Nagano was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Nov 02
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: JP¥246 (up from JP¥81.37 loss in 2Q 2022). Revenue: JP¥317.1b (up 54% from 2Q 2022). Net income: JP¥48.5b (up JP¥64.5b from 2Q 2022). Profit margin: 15% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 26%. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥65.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 01 December 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 0.8%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (1.2%). Reported Earnings • Jul 30
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: EPS: JP¥239 (up from JP¥145 loss in 1Q 2022). Revenue: JP¥309.3b (up 71% from 1Q 2022). Net income: JP¥47.0b (up JP¥75.4b from 1Q 2022). Profit margin: 15% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 7.5%. Earnings per share (EPS) also surpassed analyst estimates by 763%. Over the next year, revenue is forecast to grow 37%, compared to a 24% growth forecast for the industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 92 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 28
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: JP¥264 loss per share (up from JP¥1,025 loss in FY 2021). Revenue: JP¥935.1b (up 14% from FY 2021). Net loss: JP¥51.9b (loss narrowed 74% from FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.7%. Over the next year, revenue is forecast to grow 54%, compared to a 19% growth forecast for the industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥65.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 24 June 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 0.8%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (1.3%). Reported Earnings • Feb 02
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: JP¥163 (up from JP¥10.55 in 3Q 2021). Revenue: JP¥299.4b (up 13% from 3Q 2021). Net income: JP¥32.1b (up JP¥30.1b from 3Q 2021). Profit margin: 11% (up from 0.8% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 5.4%. Earnings per share (EPS) exceeded analyst estimates by 54%. Over the next year, revenue is forecast to grow 50%, compared to a 18% growth forecast for the industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Reported Earnings • Oct 28
Second quarter 2022 earnings released: JP¥81.37 loss per share (vs JP¥208 loss in 2Q 2021) The company reported a decent second quarter result with reduced losses and improved control over expenses, although revenues were weaker. Second quarter 2022 results: Revenue: JP¥206.3b (down 1.4% from 2Q 2021). Net loss: JP¥16.0b (loss narrowed 61% from 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥65.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 01 December 2021. Trailing yield: 0.8%. Lower than top quartile of Japanese dividend payers (3.0%). Lower than average of industry peers (1.2%). Reported Earnings • Aug 03
First quarter 2022 earnings released: JP¥145 loss per share (vs JP¥370 loss in 1Q 2021) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2022 results: Revenue: JP¥180.6b (up 40% from 1Q 2021). Net loss: JP¥28.4b (loss narrowed 61% from 1Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Reported Earnings • Jun 27
Full year 2021 earnings released: JP¥1,025 loss per share (vs JP¥2,028 profit in FY 2020) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: JP¥823.5b (down 55% from FY 2020). Net loss: JP¥201.6b (down 151% from profit in FY 2020). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 29
Full year 2021 earnings released: JP¥1,025 loss per share (vs JP¥2,028 profit in FY 2020) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: JP¥823.5b (down 55% from FY 2020). Net loss: JP¥201.6b (down 151% from profit in FY 2020). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥65.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 24 June 2021. Trailing yield: 0.7%. Lower than top quartile of Japanese dividend payers (2.7%). Lower than average of industry peers (1.1%). Reported Earnings • Feb 02
Third quarter 2021 earnings released: EPS JP¥10.55 (vs JP¥665 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥265.2b (down 46% from 3Q 2020). Net income: JP¥2.07b (down 98% from 3Q 2020). Profit margin: 0.8% (down from 27% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 02
New 90-day high: JP¥14,995 The company is up 12% from its price of JP¥13,415 on 04 November 2020. The Japanese market is up 14% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Transportation industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥1,440 per share. Analyst Estimate Surprise Post Earnings • Feb 02
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 11%. Earnings per share (EPS) exceeded analyst estimates. Over the next year, revenue is forecast to grow 34%, compared to a 1.0% growth forecast for the Transportation industry in Japan. Major Estimate Revision • Jan 31
Analysts lower EPS estimates to -JP¥805 The 2021 consensus revenue estimate was lowered from JP¥943.3b to JP¥911.9b. The company's losses are expected to worsen with analysts lowering their EPS forecasts from -JP¥713 to -JP¥805 for the same period. The Transportation industry in Japan is expected to see an average net income growth of 5.2% next year. The consensus price target increased from JP¥15,996 to JP¥16,029. Share price is up 1.2% to JP¥14,800 over the past week. Major Estimate Revision • Jan 26
Analysts lower EPS estimates to -JP¥805 The 2021 consensus revenue estimate was lowered from JP¥942.6b to JP¥917.9b. The company's losses are expected to worsen with analysts lowering their EPS forecasts from -JP¥683 to -JP¥805 for the same period. The Transportation industry in Japan is expected to see an average net income growth of 13% next year. The consensus price target was lowered from JP¥16,204 to JP¥16,029. Share price is down by 2.2% to JP¥14,510 over the past week. 