Worth reading
50Recurring
Scored from 5 of 6 sectionsDirection
Improvement
Direction inferred from the company’s description.Scale
6.8
% (year-on-year change in revenue)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales3,084,679¥ millionYear on year +6.8%Progress 93.6%
Operating profit414,258¥ millionYear on year +9.9%Progress 96.6%
Ordinary income351,645¥ millionYear on year +9.4%Progress 99.6%
Net income attributable to owners of the parent247,846¥ millionYear on year +10.5%Progress 97.2%
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
Net income per share¥219.42
Operating Margin13.4
Financial position at period-end
Total assets10,820,726¥ million
of which net assets 3,060,091 ¥ millionEquity ratio 28.2%vs. prior year-end +0.1pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Cash inflows and outflows
Operating+765,072
Investment-877,606
Financials+138,715
Net change+26,181
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ million).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period¥262,057 million
Segment revenue
Transportation Business2,045,84066.3%+5.1%
Distribution and Services business416,13313.5%+5.7%
Real Estate and Hotel business513,22716.6%+15.2%
Other109,4773.5%+6.8%
Segment profit
Transportation Business194,41446.2%+10.4%
Distribution and Services business68,07216.2%+12.5%
Real Estate and Hotel business128,25230.5%+6.6%
Other30,2747.2%+32.0%
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥3,295,000 million (YoY +6.8%)
Operating profit¥429,000 million (YoY +3.6%)
Ordinary income¥353,000 million (YoY +0.4%)
Net income¥255,000 million (YoY +2.9%)
Annual Dividend Forecast¥74 per share → ¥84 per share（+13.5%）
Payout ratio33.7
Shareholder Return PolicyThe company will progressively increase its dividend payout ratio to 40% by fiscal 2027. It will also pursue share repurchases flexibly.
Factors Behind Changes in Business Performance
All segments reported higher revenue, driven by increased railway use and higher sales at station retail outlets. The main factors were higher railway transportation revenue in the Transportation business, higher sales at station retail outlets in the Distribution and Services business, higher sales from real estate sales, office leasing, shopping centers and hotels in the Real Estate and Hotel business, and higher revenue related to the IC card business in Other.
Disclosure regarding the going concern assumption
Not applicable.
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 No
Changes in the scope of consolidationNew 0 companies (no company names provided) / Excluded 0 companies (no company names provided)
Material subsequent eventsOn 10 April 2026, the company issued three unsecured ordinary corporate bonds with a total value of ¥70,000 million. On 15 April 2026, it entered into an integration agreement concerning the absorption-type merger of JR東日本不動産株式会社 and 伊藤忠都市開発株式会社, with the merger scheduled for 1 October 2026.
Impairment loss¥15,185 million
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥273 million / Gain on sale of investment securities ¥37,634 million / Contributions received for construction, etc. ¥33,484 million / Other ¥8,997 million / Total ¥80,388 million / Extraordinary loss Loss on sale of fixed assets ¥1,369 million / Loss on Disposal of Fixed Assets ¥2,743 million / Reduction in acquisition cost from construction contributions, etc. ¥30,049 million / Impairment loss ¥15,185 million / Loss on revision of retirement benefit plans ¥15,794 million / Other ¥32,804 million / Total ¥97,946 million
Depreciation and amortization¥428,730 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingAvailable (for analysts, scheduled for 1 May 2026)
Issued Shares at Period-End1,134,412,200
Treasury Shares at Period-End5,343,717
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2025–31 March 2026 |
| Net Sales | ¥3,084,679 million (YoY +6.8%) |
| Operating profit | ¥414,258 million (YoY +9.9%) |
| Ordinary income | ¥351,645 million (YoY +9.4%) |
| Profit attributable to owners of the parent | ¥247,846 million (YoY +10.5%) |
| Net income per share | ¥219.42 |
| Operating Margin | 13.4 |
| Equity ratio | End of the current fiscal period 28.2 / End of previous period 28.1 |
| Total assets | ¥10,820,726 million |
| Net assets | ¥3,060,091 million |
| Cash flows from operating activities | ¥765,072 million |
| Cash flows from investing activities | ¥-877,606 million |
| Cash flows from financing activities | ¥138,715 million |
| Cash and cash equivalents at end of period | ¥262,057 million |
| Full-year earnings forecast | Net Sales ¥3,295,000 million (YoY +6.8%) / Operating profit ¥429,000 million (YoY +3.6%) / Ordinary income ¥353,000 million (YoY +0.4%) / Net income ¥255,000 million (YoY +2.9%) |
| Annual Dividend Forecast | ¥74 per share → ¥84 per share（+13.5%） |
| Payout ratio | 33.7 |
| Shareholder Return Policy | The company will progressively increase its dividend payout ratio to 40% by fiscal 2027. It will also pursue share repurchases flexibly. |
| Segment revenue | Transportation Business ¥2,045,840 million (YoY +5.1%) / Distribution and Services business ¥416,133 million (YoY +5.7%) / Real Estate and Hotel business ¥513,227 million (YoY +15.2%) / Other ¥109,477 million (YoY +6.8%) |
| Segment profit | Transportation Business ¥194,414 million (YoY +10.4%) / Distribution and Services business ¥68,072 million (YoY +12.5%) / Real Estate and Hotel business ¥128,252 million (YoY +6.6%) / Other ¥30,274 million (YoY +32.0%) |
| Depreciation and amortization | ¥428,730 million |
| Impairment loss | ¥15,185 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥273 million / Gain on sale of investment securities ¥37,634 million / Contributions received for construction, etc. ¥33,484 million / Other ¥8,997 million / Total ¥80,388 million / Extraordinary loss Loss on sale of fixed assets ¥1,369 million / Loss on Disposal of Fixed Assets ¥2,743 million / Reduction in acquisition cost from construction contributions, etc. ¥30,049 million / Impairment loss ¥15,185 million / Loss on revision of retirement benefit plans ¥15,794 million / Other ¥32,804 million / Total ¥97,946 million |
| Disclosure regarding the going concern assumption | Not applicable. |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New 0 companies (no company names provided) / Excluded 0 companies (no company names provided) |
| Material subsequent events | On 10 April 2026, the company issued three unsecured ordinary corporate bonds with a total value of ¥70,000 million. On 15 April 2026, it entered into an integration agreement concerning the absorption-type merger of JR東日本不動産株式会社 and 伊藤忠都市開発株式会社, with the merger scheduled for 1 October 2026. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Available (for analysts, scheduled for 1 May 2026) |
| Issued Shares at Period-End | 1,134,412,200 |
| Treasury Shares at Period-End | 5,343,717 |
| Factors Behind Changes in Business Performance | All segments reported higher revenue, driven by increased railway use and higher sales at station retail outlets. The main factors were higher railway transportation revenue in the Transportation business, higher sales at station retail outlets in the Distribution and Services business, higher sales from real estate sales, office leasing, shopping centers and hotels in the Real Estate and Hotel business, and higher revenue related to the IC card business in Other. |
Items this document does not state (3)
Revision to Earnings ForecastRegional salesOrders received and order backlog
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.All segments reported higher revenue, mainly due to increased railway use and higher sales at station retail outlets.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.