Declared Dividend • Jul 25
Final dividend increased to JP¥48.50 Dividend of JP¥48.50 is 7.8% higher than last year. Ex-date: 29th September 2026 Payment date: 30th November 2026 Dividend yield will be 3.4%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is covered by both earnings (35% earnings payout ratio) and cash flows (57% cash payout ratio). The dividend has increased by an average of 3.4% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 5.9% over the next 3 years. However, it would need to fall by 61% to increase the payout ratio to a potentially unsustainable range. Ankündigung • Jun 09
West Japan Railway Company to Report Q1, 2027 Results on Aug 05, 2026 West Japan Railway Company announced that they will report Q1, 2027 results on Aug 05, 2026 Live-News • May 05
JR West Partners With Resona Group to Launch Integrated Kansai Banking and Transport Services JR West, Resona Holdings and Kansai Mirai Bank have agreed to a capital and business alliance focused on integrating transport, lifestyle and financial services in western Japan, especially the Kansai region.
JR West plans to invest in Kansai Mirai Bank and work with the Resona Group to use its financial knowhow together with JR West’s customer base.
The partners aim to launch a new banking service, currently called WESTER MIRAI BANK, in fiscal 2027, embedding banking and payment functions into everyday activities such as commuting and shopping.
For you as an investor, this alliance points to JR West pushing further into nonfare revenue tied to its existing rail and station network. By collaborating with established financial institutions, the company is looking to connect its transport services with banking and payments, using daily touchpoints like commuting and retail spending across the Kansai area.
The planned WESTER MIRAI BANK, targeted for fiscal 2027, indicates a move toward a more integrated service platform rather than only transport operations. A key consideration over time will be how effectively JR West and its partners convert rider and shopper traffic into financial service users, and whether this leads to deeper customer engagement and incremental fee or commission income alongside the core railway business. Reported Earnings • May 01
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥278 (up from JP¥240 in FY 2025). Revenue: JP¥1.85t (up 8.1% from FY 2025). Net income: JP¥127.5b (up 12% from FY 2025). Profit margin: 6.9% (up from 6.7% 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 3.2%. Revenue is forecast to grow 2.2% 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 18% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Ankündigung • Apr 30
West Japan Railway Company, Annual General Meeting, Jun 18, 2026 West Japan Railway Company, Annual General Meeting, Jun 18, 2026. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥45.50 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 19 June 2026. Payout ratio is a comfortable 36% and the cash payout ratio is 99%. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.9%). Ankündigung • Feb 09
West Japan Railway Company to Report Fiscal Year 2026 Results on Apr 30, 2026 West Japan Railway Company announced that they will report fiscal year 2026 results at 3:00 PM, Tokyo Standard Time on Apr 30, 2026 Ankündigung • Feb 06
West Japan Railway Company Provides Earnings Guidance for the Fiscal Year Ending March 31, 2026 West Japan Railway Company provided earnings guidance for the Fiscal Year ending March 31, 2026 (from April 1, 2025 to March 31, 2026). For the period, the company expects Operating revenues pf JPY 1,836,000 million, Operating income JPY 195,000 million, Income attributable to owners of parent JPY 118,500 million and Income attributable to owners of parent per share JPY 258.12 per share. Reported Earnings • Feb 04
Third quarter 2026 earnings: EPS misses analyst expectations Third quarter 2026 results: EPS: JP¥75.35 (down from JP¥95.53 in 3Q 2025). Revenue: JP¥467.6b (up 7.7% from 3Q 2025). Net income: JP¥34.3b (down 24% from 3Q 2025). Profit margin: 7.3% (down from 10% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 18%. Revenue is forecast to grow 2.2% 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 25% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Ankündigung • Dec 06
West Japan Railway Company to Report Q3, 2026 Results on Feb 03, 2026 West Japan Railway Company announced that they will report Q3, 2026 results on Feb 03, 2026 Declared Dividend • Nov 29
First half dividend of JP¥45.50 announced Shareholders will receive a dividend of JP¥45.50. Ex-date: 30th March 2026 Payment date: 19th June 2026 Dividend yield will be 2.9%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is covered by earnings (33% earnings payout ratio) but not adequately covered by cash flows (99% cash payout ratio). The dividend has increased by an average of 4.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 7.6% over the next 3 years. However, it would need to fall by 63% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Nov 05
Second quarter 2026 earnings: EPS misses analyst expectations Second quarter 2026 results: EPS: JP¥82.53 (up from JP¥66.41 in 2Q 2025). Revenue: JP¥444.8b (up 8.9% from 2Q 2025). Net income: JP¥37.9b (up 21% from 2Q 2025). Profit margin: 8.5% (up from 7.7% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.1%. Revenue is forecast to grow 2.4% 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 35% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥43.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 28 November 2025. Payout ratio is a comfortable 32% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.8%). Ankündigung • Sep 09
West Japan Railway Company to Report Q2, 2026 Results on Nov 04, 2025 West Japan Railway Company announced that they will report Q2, 2026 results on Nov 04, 2025 New Risk • Aug 06
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 (20% operating cash flow to total debt). Earnings are forecast to decline by an average of 0.8% per year for the foreseeable future. Minor Risk Paying a dividend despite having no free cash flows. Declared Dividend • Jul 09
Final dividend of JP¥43.00 announced Shareholders will receive a dividend of JP¥43.00. Ex-date: 29th September 2025 Payment date: 28th November 2025 Dividend yield will be 2.8%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is covered by earnings (35% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 3.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 5.9% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 19
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: JP¥240 (up from JP¥203 in FY 2024). Revenue: JP¥1.71t (up 4.5% from FY 2024). Net income: JP¥114.0b (up 15% from FY 2024). Profit margin: 6.7% (up from 6.0% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) exceeded analyst estimates by 8.0%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Ankündigung • Jun 07
West Japan Railway Company to Report Q1, 2026 Results on Aug 05, 2025 West Japan Railway Company announced that they will report Q1, 2026 results on Aug 05, 2025 New Risk • May 03
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 19% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • May 03
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: JP¥240 (up from JP¥203 in FY 2024). Revenue: JP¥1.71t (up 4.5% from FY 2024). Net income: JP¥114.0b (up 15% from FY 2024). Profit margin: 6.7% (up from 6.0% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) exceeded analyst estimates by 8.0%. Revenue is forecast to grow 2.9% 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 72% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥37.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 20 June 2025. Payout ratio is a comfortable 37% but the company is paying out more than the cash it is generating. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.7%). Ankündigung • Mar 04
West Japan Railway Company to Report Fiscal Year 2025 Results on May 02, 2025 West Japan Railway Company announced that they will report fiscal year 2025 results on May 02, 2025 Reported Earnings • Feb 01
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: JP¥95.53 (up from JP¥87.70 in 3Q 2024). Revenue: JP¥434.3b (up 2.3% from 3Q 2024). Net income: JP¥44.9b (up 5.1% from 3Q 2024). Profit margin: 10% (in line with 3Q 2024). Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 7.4%. Revenue is forecast to grow 3.3% 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 92% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Ankündigung • Dec 07
West Japan Railway Company to Report Q3, 2025 Results on Jan 31, 2025 West Japan Railway Company announced that they will report Q3, 2025 results on Jan 31, 2025 Declared Dividend • Nov 29
First half dividend of JP¥37.00 announced Shareholders will receive a dividend of JP¥37.00. Ex-date: 28th March 2025 Payment date: 20th June 2025 Dividend yield will be 2.6%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is covered by earnings (38% earnings payout ratio) but not covered by cash flows (136% cash payout ratio). The dividend has increased by an average of 3.0% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 16% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 03
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: JP¥66.41 (down from JP¥69.41 in 2Q 2024). Revenue: JP¥408.6b (up 2.0% from 2Q 2024). Net income: JP¥31.4b (down 7.1% from 2Q 2024). Profit margin: 7.7% (down from 8.4% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 18%. Revenue is forecast to grow 3.5% 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 109% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥36.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 04 December 2024. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.6%). Ankündigung • Sep 07
West Japan Railway Company to Report Q2, 2025 Results on Nov 01, 2024 West Japan Railway Company announced that they will report Q2, 2025 results on Nov 01, 2024 Board Change • Aug 21
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Outside Director Kenryo Goto was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 02
First quarter 2025 earnings released: EPS: JP¥79.03 (vs JP¥68.35 in 1Q 2024) First quarter 2025 results: EPS: JP¥79.03 (up from JP¥68.35 in 1Q 2024). Revenue: JP¥402.8b (up 9.1% from 1Q 2024). Net income: JP¥38.3b (up 15% from 1Q 2024). Profit margin: 9.5% (in line with 1Q 2024). Revenue is forecast to grow 3.4% 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 increased by 117% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Declared Dividend • Jul 11
Final dividend of JP¥36.00 announced Shareholders will receive a dividend of JP¥36.00. Ex-date: 27th September 2024 Payment date: 4th December 2024 Dividend yield will be 4.1%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is covered by both earnings (35% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has increased by an average of 2.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 16% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 25
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥405 (up from JP¥182 in FY 2023). Revenue: JP¥1.64t (up 17% from FY 2023). Net income: JP¥98.8b (up 12% from FY 2023). Profit margin: 6.0% (down from 6.3% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 130%. Revenue is forecast to grow 3.7% 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 122% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Ankündigung • Jun 13
West Japan Railway Company to Report Q1, 2025 Results on Aug 01, 2024 West Japan Railway Company announced that they will report Q1, 2025 results on Aug 01, 2024 Reported Earnings • May 01
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥811 (up from JP¥182 in FY 2023). Revenue: JP¥1.64t (up 17% from FY 2023). Net income: JP¥98.8b (up 12% from FY 2023). Profit margin: 6.0% (down from 6.3% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 130%. Revenue is forecast to grow 4.1% 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 128% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Ankündigung • May 01
West Japan Railway Company, Annual General Meeting, Jun 19, 2024 West Japan Railway Company, Annual General Meeting, Jun 19, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥62.50 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 26 June 2024. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.2%). Ankündigung • Mar 05
West Japan Railway Company to Report Fiscal Year 2024 Results on Apr 30, 2024 West 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¥175 (vs JP¥93.79 in 3Q 2023) Third quarter 2024 results: EPS: JP¥175 (up from JP¥93.79 in 3Q 2023). Revenue: JP¥424.4b (up 19% from 3Q 2023). Net income: JP¥42.7b (up 87% from 3Q 2023). Profit margin: 10% (up from 6.4% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.3% 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 remained flat, which means it is significantly lagging earnings. Ankündigung • Dec 10
West Japan Railway Company to Report Q3, 2024 Results on Jan 31, 2024 West Japan Railway Company announced that they will report Q3, 2024 results on Jan 31, 2024 Reported Earnings • Nov 02
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: JP¥139 (up from JP¥27.27 in 2Q 2023). Revenue: JP¥400.6b (up 25% from 2Q 2023). Net income: JP¥33.8b (up 409% from 2Q 2023). Profit margin: 8.4% (up from 2.1% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.0%. Earnings per share (EPS) also surpassed analyst estimates by 20%. Revenue is forecast to grow 2.6% 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 98% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥50.00 per share at 1.5% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 04 December 2023. Payout ratio is a comfortable 48% and the cash payout ratio is 87%. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.2%). Ankündigung • Sep 10
West Japan Railway Company to Report Q2, 2024 Results on Oct 31, 2023 West Japan Railway Company announced that they will report Q2, 2024 results on Oct 31, 2023 Reported Earnings • Aug 02
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: JP¥137 (down from JP¥237 in 1Q 2023). Revenue: JP¥369.3b (up 24% from 1Q 2023). Net income: JP¥33.3b (down 42% from 1Q 2023). Profit margin: 9.0% (down from 20% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 6.4%. Earnings per share (EPS) also surpassed analyst estimates by 59%. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Ankündigung • Jun 07
West Japan Railway Company to Report Q1, 2024 Results on Aug 01, 2023 West Japan Railway Company announced that they will report Q1, 2024 results on Aug 01, 2023 Ankündigung • May 25
Solasto Corporation (TSE:6197) sign a contract to acquire 96.63% stake in POSSIBLE Medical Science, Ltd. from West Japan Railway Company (TSE:9021) for ¥1.3 billion. Solasto Corporation (TSE:6197) sign a contract to acquire 96.63% stake in POSSIBLE Medical Science, Ltd. from West Japan Railway Company (TSE:9021) for ¥1.3 billion on May 24, 2023. Solasto Corporation will acquire 14,339 shares in POSSIBLE Medical Science. POSSIBLE Medical Science has reported revenues of ¥1.91 billion, total assets of ¥765 million, EBIT of ¥38 million, net income of ¥43 million and net assets of ¥305 million on fiscal year ended January 2023. The board resolution date is May 24, 2023. The transaction is expected to complete on July 3, 2023. Reported Earnings • Apr 29
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: JP¥363 (up from JP¥516 loss in FY 2022). Revenue: JP¥1.40t (up 35% from FY 2022). Net income: JP¥88.5b (up JP¥201.7b from FY 2022). Profit margin: 6.3% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 4.9%. Earnings per share (EPS) also surpassed analyst estimates by 20%. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥50.00 per share at 1.9% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 26 June 2023. Payout ratio is a comfortable 43% but the company is not cash flow positive. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.2%). Reported Earnings • Feb 01
Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2023 results: EPS: JP¥93.79 (up from JP¥59.88 in 3Q 2022). Revenue: JP¥358.1b (up 22% from 3Q 2022). Net income: JP¥22.9b (up 56% from 3Q 2022). Profit margin: 6.4% (up from 5.0% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) missed analyst estimates by 29%. Revenue is forecast to grow 4.1% 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 13% per year whereas the company’s share price has fallen by 17% per year. Ankündigung • Dec 09
West Japan Railway Company to Report Q3, 2023 Results on Jan 31, 2023 West Japan Railway Company announced that they will report Q3, 2023 results on Jan 31, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2023 results: EPS: JP¥27.27 (up from JP¥184 loss in 2Q 2022). Revenue: JP¥319.6b (up 36% from 2Q 2022). Net income: JP¥6.65b (up JP¥43.2b from 2Q 2022). Profit margin: 2.1% (up from net loss in 2Q 2022). Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 70%. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 03
Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2023 results: EPS: JP¥27.27 (up from JP¥184 loss in 2Q 2022). Revenue: JP¥319.6b (up 36% from 2Q 2022). Net income: JP¥6.65b (up JP¥43.2b from 2Q 2022). Profit margin: 2.1% (up from net loss in 2Q 2022). Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 70%. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 02 December 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.2%). Reported Earnings • Aug 03
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: EPS: JP¥237 (up from JP¥168 loss in 1Q 2022). Revenue: JP¥297.1b (up 47% from 1Q 2022). Net income: JP¥57.9b (up JP¥90.0b from 1Q 2022). Profit margin: 20% (up from net loss in 1Q 2022). Revenue exceeded analyst estimates by 6.3%. Earnings per share (EPS) also surpassed analyst estimates. Over the next year, revenue is forecast to grow 21%, compared to a 22% 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 55 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 30
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: JP¥516 loss per share (up from JP¥1,220 loss in FY 2021). Revenue: JP¥1.03t (up 15% from FY 2021). Net loss: JP¥113.2b (loss narrowed 52% from FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 24%. Over the next year, revenue is forecast to grow 31%, compared to a 21% 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 72 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥50.00 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: 2.0%. Lower than top quartile of Japanese dividend payers (3.4%). Higher 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¥59.88 (up from JP¥176 loss in 3Q 2021). Revenue: JP¥293.2b (up 15% from 3Q 2021). Net income: JP¥14.6b (up JP¥48.3b from 3Q 2021). Profit margin: 5.0% (up from net loss in 3Q 2021). The move to profitability was primarily driven by higher revenue. Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) exceeded analyst estimates by 211%. Over the next year, revenue is forecast to grow 32%, 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 • Nov 04
Second quarter 2022 earnings released: JP¥184 loss per share (vs JP¥269 loss in 2Q 2021) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2022 results: Revenue: JP¥234.9b (up 3.7% from 2Q 2021). Net loss: JP¥36.5b (loss narrowed 29% from 2Q 2021). 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 • Sep 22
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 02 December 2021. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (1.2%). Reported Earnings • Aug 15
First quarter 2022 earnings released: JP¥168 loss per share (vs JP¥401 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¥202.0b (up 24% from 1Q 2021). Net loss: JP¥32.1b (loss narrowed 58% from 1Q 2021). 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. Major Estimate Revision • Aug 14
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 expected loss increased from -JP¥151 to -JP¥201 per share. Revenue forecast unchanged at JP¥1.16t. Transportation industry in Japan expected to see average net income growth of 0.9% next year. Consensus price target broadly unchanged at JP¥6,764. Share price rose 2.9% to JP¥5,853 over the past week. Major Estimate Revision • Jul 31
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 expected loss increased from -JP¥73.33 to -JP¥84.45 per share. Revenue forecast of JP¥1.18t unchanged since last update. Transportation industry in Japan expected to see average net income growth of 3.9% next year. Consensus price target of JP¥6,868 unchanged from last update. Share price was steady at JP¥5,917 over the past week. Reported Earnings • Jun 30
Full year 2021 earnings released: JP¥1,220 loss per share (vs JP¥467 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¥898.2b (down 40% from FY 2020). Net loss: JP¥233.2b (down 361% from profit in FY 2020). 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 • May 02
Full year 2021 earnings released: JP¥1,220 loss per share (vs JP¥467 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¥898.2b (down 40% from FY 2020). Net loss: JP¥233.2b (down 361% from profit in FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 24 June 2021. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.1%). Is New 90 Day High Low • Feb 25
New 90-day high: JP¥6,667 The company is up 32% from its price of JP¥5,060 on 27 November 2020. The Japanese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Transportation industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥1,306 per share.