Worth reading
71In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
1971
¥100 million (year-on-year change in operating revenue)Wording
—
How definitive the wording is.Contents of this document
Earnings presentationResults for the fiscal year ended March 2026 and management strategy for the fiscal year ending March 202715 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥30,846 100 million+6.8%
Operating profit¥4,142 100 million+9.9%
Ordinary income¥3,516 100 million+9.4%
Net income¥2,478 100 million+10.5%
Full-year earnings forecast
Operating revenue
¥32,950 100 million
Operating profit
¥4,290 100 million
Ordinary income
¥3,530 100 million
Profit attributable to owners of the parent
¥2,550 100 million
EBITDA
¥8,870 100 million
Progress against full-year forecast 通期の予想に対して、いまどこまで進んだかの割合です。
Fiscal year ended March 2026 consolidated
Operating revenue100.9% (versus plan)
Operating profit102.3% (versus plan)
Ordinary income103.1% (versus plan)
Profit attributable to owners of the parent104.6% (versus plan)
EBITDA101.6% (versus plan)
Segments for the fiscal year ended March 2026
Transportation
Operating revenue100.7%
Operating profit101.3%
EBITDA100.9%
Distribution and services
Operating revenue99.6%
Operating profit100.1%
EBITDA100.4%
Real estate and hotels
Operating revenue101.4%
Operating profit103.4%
EBITDA103.5%
Other
Operating revenue106.3%
Operating profit126.1%
EBITDA108.6%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Consolidated revenue and profit increased, with revenue and profit growth in all segmentsBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Operating profit, fiscal year ended March 2026
Increase in JR transportation revenueApproximately +¥79.5 billion
Increase in retail, services, real estate, hotels and other revenue (excluding real estate sales)Approximately +¥62.5 billion
Increase in real estate sales revenueApproximately +¥27.5 billion
Increase in real estate sales costsApproximately -¥9.0 billion
Higher personnel expensesApproximately -¥41.0 billion
Increase in JR repair expensesApproximately -¥16.5 billion
Increase in retail, services, real estate and hotel costs (excluding real estate sales)Approximately -¥15.5 billion
Increase in other expensesApproximately -¥77.5 billion
Operating income forecast for the fiscal year ending March 2027
Increase in JR transportation revenueApproximately +¥95.0 billion
Increase in external revenue from retail, services, real estate and hotelsApproximately +¥103.0 billion
Higher personnel expensesApproximately -¥55.0 billion
Increase in JR repair expensesApproximately -¥30.0 billion
Increase in retail, services, real estate and hotel expenses (excluding personnel expenses)Approximately -¥89.0 billion
OtherApproximately -¥9.0 billion
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
The assumptions include rising prices, higher labor costs and a medium- to long-term increase in inbound demand (with some numerical assumptions not disclosed)New initiatives
- Organizational restructuring in July 2026, moving from a structure of 2 headquarters and 10 branches to one with 36 business headquarters
- Establishment of JR East Itochu Real Estate Development Co., Ltd. effective 1 October 2026
- Launch of the new payment service teppay in autumn 2026
- Trial introduction from April 2026 of AI-based image analysis for pantograph monitoring camera footage
- Launch of LX Doctor at 22 stations and 24 booths
- Regional revitalization partnership agreement with JAL covering eastern Japan
- Promotion of construction of the Haneda Airport Access Line (tentative name)
- Expansion of the Hakobyun business using Shinkansen trains dedicated to freight
Key KPIsA metric the company considers important as a management benchmark.
- Operating revenue¥30,846 100 millionYear on year against the same period last yearRecord high
- EBITDA¥8,429 100 millionYear on year against the same period last year+7.7%
- ROE8.4 %Year on year against the same period last year+0.4pt
- ROA3.9 %Year on year against the same period last year+0.1pt
- Net interest-bearing debt / EBITDA5.8 timesYear on year against the same period last year-0.2x
- Monthly electronic money transactions3,500 Million transactions annual totalYear on year against the same period last year+2%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
- Passenger-kilometers128,263 million passenger-kilometersYear on year against the same period last year+3.2%
- Railway transportation revenue¥18,485 100 millionYear on year against the same period last year+4.5%
- Hotel occupancy rate79.2 %Year on year against the same period last year+1.0pt
- Average hotel room rate¥19,376 per roomYear on year against the same period last year+8%
Segment results
Transportation
Sales
¥20,458 100 million+5.1%
Operating profit
¥1,944 100 million+10.4%
Distribution and services
Sales
¥4,161 100 million+5.7%
Operating profit
¥680 100 million+12.5%
Real estate and hotels
Sales
¥5,132 100 million+15.2%
Operating profit
¥1,282 100 million+6.6%
Other
Sales
¥1,094 100 million+6.8%
Operating profit
¥302 100 million+32.0%
Medium-term management plan targets
Yusho 2034 medium-term plan
Fiscal year ending March 2032
Operating revenueApproximately ¥4.3 trillion
EBITDAApproximately ¥1.2 trillion
Operating profitApproximately ¥750 billion
ROE10% or higher
Mobility
Operating revenue for the fiscal year ending March 2032More than ¥300 billion versus the fiscal year ended March 2025
Lifestyle solutions
Operating revenue for the fiscal year ending March 2032An additional ¥150 billion after doubling versus the fiscal year ended March 2024
Operating profit for the fiscal year ending March 2032An additional ¥100 billion after doubling versus the fiscal year ended March 2024
Financial targets
ROE
Actual results for the fiscal year ending March 20268.4%
Target for the fiscal year ending March 203210% or higher
Net interest-bearing debt / EBITDA
Actual results for the fiscal year ending March 20265.8x
Target for the fiscal year ending March 2032Approximately 5x
Equity ratio
Target for the fiscal year ending March 2032Approximately 30%
Market Size / Share
The target is to increase the proportion of visitors to Japan staying in Tohoku to 5%Orders received and order backlog
Orders were received for 231 railcars and 3,011 rail freight containers. The order value and order backlog are not disclosedCapital expenditures
¥9,491 100 million actual for the fiscal year ended March 2026
Annual Dividend
Fiscal year ending March 2026
Annual¥74 per share
Interim¥35 per share
End of period¥39 per share
Forecast for the fiscal year ending March 2027
Annual¥84 per share
Interim¥42 per share
End of period¥42 per share
Payout ratio
33.7% for the fiscal year ended March 2026, 37.2% forecast for the fiscal year ending March 2027, and an increase to 40% in the fiscal year ending March 2028Acquisition of treasury shares
The Company plans to conduct share buybacks flexibly. The amount, number of shares and period for the buybacks are not disclosed| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Results for the fiscal year ended March 2026 and management strategy for the fiscal year ending March 2027 |
| Net Sales | ¥30,846 100 million (YoY +6.8%) |
| Operating profit | ¥4,142 100 million (YoY +9.9%) |
| Ordinary income | ¥3,516 100 million (YoY +9.4%) |
| Net income | ¥2,478 100 million (YoY +10.5%) |
| Full-year earnings forecast | Operating revenue ¥32,950 100 million / Operating profit ¥4,290 100 million / Ordinary income ¥3,530 100 million / Profit attributable to owners of the parent ¥2,550 100 million / EBITDA ¥8,870 100 million |
| Progress against full-year forecast | Fiscal year ended March 2026 consolidated Operating revenue 100.9% (versus plan) / Operating profit 102.3% (versus plan) / Ordinary income 103.1% (versus plan) / Profit attributable to owners of the parent 104.6% (versus plan) / EBITDA 101.6% (versus plan) / Segments for the fiscal year ended March 2026 Transportation Operating revenue 100.7% / Operating profit 101.3% / EBITDA 100.9% / Distribution and services Operating revenue 99.6% / Operating profit 100.1% / EBITDA 100.4% / Real estate and hotels Operating revenue 101.4% / Operating profit 103.4% / EBITDA 103.5% / Other Operating revenue 106.3% / Operating profit 126.1% / EBITDA 108.6% |
| Self-assessment against the plan | Consolidated revenue and profit increased, with revenue and profit growth in all segments |
| Segment results | Transportation Sales ¥20,458 100 million (YoY +5.1%) / Operating profit ¥1,944 100 million (YoY +10.4%) / Distribution and services Sales ¥4,161 100 million (YoY +5.7%) / Operating profit ¥680 100 million (YoY +12.5%) / Real estate and hotels Sales ¥5,132 100 million (YoY +15.2%) / Operating profit ¥1,282 100 million (YoY +6.6%) / Other Sales ¥1,094 100 million (YoY +6.8%) / Operating profit ¥302 100 million (YoY +32.0%) |
| Breakdown of Factors Affecting the Change | Operating profit, fiscal year ended March 2026 Increase in JR transportation revenue Approximately +¥79.5 billion / Increase in retail, services, real estate, hotels and other revenue (excluding real estate sales) Approximately +¥62.5 billion / Increase in real estate sales revenue Approximately +¥27.5 billion / Increase in real estate sales costs Approximately -¥9.0 billion / Higher personnel expenses Approximately -¥41.0 billion / Increase in JR repair expenses Approximately -¥16.5 billion / Increase in retail, services, real estate and hotel costs (excluding real estate sales) Approximately -¥15.5 billion / Increase in other expenses Approximately -¥77.5 billion / Operating income forecast for the fiscal year ending March 2027 Increase in JR transportation revenue Approximately +¥95.0 billion / Increase in external revenue from retail, services, real estate and hotels Approximately +¥103.0 billion / Higher personnel expenses Approximately -¥55.0 billion / Increase in JR repair expenses Approximately -¥30.0 billion / Increase in retail, services, real estate and hotel expenses (excluding personnel expenses) Approximately -¥89.0 billion / Other Approximately -¥9.0 billion |
| Key KPIs | ¥30,846 100 million, ¥8,429 100 million, 8.4 %, 3.9 %, 5.8 times, 3,500 Million transactions (annual total) |
| Unit price and quantity metrics | 128,263 million passenger-kilometers, ¥18,485 100 million, 79.2 %, ¥19,376 per room |
| Assumptions Underlying the Business Outlook | The assumptions include rising prices, higher labor costs and a medium- to long-term increase in inbound demand (with some numerical assumptions not disclosed) |
| Medium-term management plan targets | Yusho 2034 medium-term plan Fiscal year ending March 2032 Operating revenue Approximately ¥4.3 trillion / EBITDA Approximately ¥1.2 trillion / Operating profit Approximately ¥750 billion / ROE 10% or higher / Mobility Operating revenue for the fiscal year ending March 2032 More than ¥300 billion versus the fiscal year ended March 2025 / Lifestyle solutions Operating revenue for the fiscal year ending March 2032 An additional ¥150 billion after doubling versus the fiscal year ended March 2024 / Operating profit for the fiscal year ending March 2032 An additional ¥100 billion after doubling versus the fiscal year ended March 2024 |
| Financial targets | ROE Actual results for the fiscal year ending March 2026 8.4% / Target for the fiscal year ending March 2032 10% or higher / Net interest-bearing debt / EBITDA Actual results for the fiscal year ending March 2026 5.8x / Target for the fiscal year ending March 2032 Approximately 5x / Equity ratio Target for the fiscal year ending March 2032 Approximately 30% |
| Annual Dividend | Fiscal year ending March 2026 Annual ¥74 per share / Interim ¥35 per share / End of period ¥39 per share / Forecast for the fiscal year ending March 2027 Annual ¥84 per share / Interim ¥42 per share / End of period ¥42 per share |
| Payout ratio | 33.7% for the fiscal year ended March 2026, 37.2% forecast for the fiscal year ending March 2027, and an increase to 40% in the fiscal year ending March 2028 |
| Acquisition of treasury shares | The Company plans to conduct share buybacks flexibly. The amount, number of shares and period for the buybacks are not disclosed |
| Capital expenditures | ¥9,491 100 million (actual for the fiscal year ended March 2026) |
| Orders received and order backlog | Orders were received for 231 railcars and 3,011 rail freight containers. The order value and order backlog are not disclosed |
| Market Size / Share | The target is to increase the proportion of visitors to Japan staying in Tohoku to 5% |
| New initiatives | Organizational restructuring in July 2026, moving from a structure of 2 headquarters and 10 branches to one with 36 business headquarters, Establishment of JR East Itochu Real Estate Development Co., Ltd. effective 1 October 2026, Launch of the new payment service teppay in autumn 2026, Trial introduction from April 2026 of AI-based image analysis for pantograph monitoring camera footage, Launch of LX Doctor at 22 stations and 24 booths, Regional revitalization partnership agreement with JAL covering eastern Japan, Promotion of construction of the Haneda Airport Access Line (tentative name), Expansion of the Hakobyun business using Shinkansen trains dedicated to freight |
Items this document does not state (8)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesResults for the three months of the current quarterNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookKey points of the Q&A
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.Higher railway usage, increased sales at station-area stores, the opening of TAKANAWA GATEWAY CITY, and higher revenue from real estate sales, office leasing, shopping centers and hotels. For the fiscal year ending March 2027, the Company expects fare revisions, the full opening of TAKANAWA GATEWAY CITY and the opening of OIMACHI TRACKS, among other factors.
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.
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.