Worth reading
91Important
Scored from 3 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
8.3
% (year-on-year decrease in operating profit)Wording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsFiscal year ending March 20269 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥126,773 million+7.3%
Operating profit¥6,776 million-8.3%
Ordinary income¥6,664 million-14.0%
Net income¥3,619 million-28.8%
Operating profit margin5.3%, down 1.0 percentage points year on year
Full-year earnings forecast
Fiscal Period CoveredFiscal year ending March 2027
Net Sales
¥129,700 million
Operating profit
¥6,200 million
Ordinary income
¥5,630 million
Profit attributable to owners of the parent
¥3,730 million
Earnings per share
¥303.97
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Revenue increase¥8,624 million
- Continued operating profit decline¥-612 million
- Decrease in ordinary profit¥-1,080 million
- Decrease in net income attributable to owners of the parent¥-1,463 million
- Increase in revenue from the automobile sales business¥6,321 million
- Decrease in operating profit from the passenger transportation business¥-566 million
- Decrease in operating profit from the real estate business¥-591 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Fluctuations in resource prices and supply volumes resulting from the unstable international situation may affect results. Numerical assumptions: not disclosedNew initiatives
- Absorption merger of 神奈川中央交通東㈱ and 神奈川中央交通西㈱ on 1 April 2025
- 東光㈱ became a consolidated subsidiary on 1 April 2025
- ㈱水島商事, ㈲林間商事 and ㈱エムエス企画 became consolidated subsidiaries on 7 January 2026
- New restaurant openings in the food-service business
- Promote condominium sales in the fiscal year ending March 2027
Key KPIsA metric the company considers important as a management benchmark.
- Passenger volume in the route bus business, non-commuter passengers129 million peopleYear-on-year (%)-3.7
- Passenger volume in the route bus business, commuter passengers75 million peopleYear-on-year (%)10
- Passenger volume in the route bus business, total205 million peopleYear-on-year (%)0.9
- New vehicle sales volume, trucks2,080 UnitsYear on year against the same period last year+354.0%
- New vehicle sales volume, buses275 UnitsYear on year against the same period last year+26.0%
- New vehicle sales volume, imported vehicles473 UnitsYear on year against the same period last year-18.0%
- EBITDA¥13,233 millionYear on year against the same period last year+2.0%
- Interest-bearing debt/EBITDA ratio5.5 timesYear on year against the same period last year+0.7%
- ROE6 %Year on year against the same period last year-3.1%
Segment results
- Passenger transportation businessNet Sales¥57,908 million (YoY +1.2%)Operating profit¥2,232 million (YoY -20.2%)
- Real Estate BusinessNet Sales¥6,842 million (YoY +1.8%)Operating profit¥1,588 million (YoY -27.1%)
- Automotive sales businessNet Sales¥44,907 million (YoY +16.4%)Operating profit¥1,687 million (YoY +20.0%)
- Other BusinessesNet Sales¥30,121 million (YoY -2.2%)Operating profit¥1,602 million (YoY +16.6%)
Financial targets
ROE: 6.0% forecast for the fiscal year ending March 2027; 6.0% actual for the fiscal year ending March 2026. Other financial targets: not disclosedCapital expenditures
¥15,025 million
Annual Dividend
Annual dividend per share¥90
Payout ratio
Consolidated payout ratio: 29.6%| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | Fiscal year ending March 2026 |
| Net Sales | ¥126,773 million (YoY +7.3%) |
| Operating profit | ¥6,776 million (YoY -8.3%) |
| Ordinary income | ¥6,664 million (YoY -14.0%) |
| Net income | ¥3,619 million (YoY -28.8%) |
| Operating profit margin | 5.3%, down 1.0 percentage points year on year |
| Full-year earnings forecast | Fiscal Period Covered Fiscal year ending March 2027 / Net Sales ¥129,700 million / Operating profit ¥6,200 million / Ordinary income ¥5,630 million / Profit attributable to owners of the parent ¥3,730 million / Earnings per share ¥303.97 |
| Segment results | Segment Passenger transportation business / Net Sales ¥57,908 million (YoY +1.2%) / Operating profit ¥2,232 million (YoY -20.2%), Segment Real Estate Business / Net Sales ¥6,842 million (YoY +1.8%) / Operating profit ¥1,588 million (YoY -27.1%), Segment Automotive sales business / Net Sales ¥44,907 million (YoY +16.4%) / Operating profit ¥1,687 million (YoY +20.0%), Segment Other Businesses / Net Sales ¥30,121 million (YoY -2.2%) / Operating profit ¥1,602 million (YoY +16.6%) |
| Breakdown of Factors Affecting the Change | Revenue increase ¥8,624 million, Continued operating profit decline ¥-612 million, Decrease in ordinary profit ¥-1,080 million, Decrease in net income attributable to owners of the parent ¥-1,463 million, Increase in revenue from the automobile sales business ¥6,321 million, Decrease in operating profit from the passenger transportation business ¥-566 million, Decrease in operating profit from the real estate business ¥-591 million |
| Key KPIs | Indicator name Passenger volume in the route bus business, non-commuter passengers / Value 129 million people / Year-on-year (%) -3.7 million people, Indicator name Passenger volume in the route bus business, commuter passengers / Value 75 million people / Year-on-year (%) 10 million people, Indicator name Passenger volume in the route bus business, total / Value 205 million people / Year-on-year (%) 0.9 million people, Indicator name New vehicle sales volume, trucks / Value 2,080 Units / Year on year against the same period last year 354 Units, Indicator name New vehicle sales volume, buses / Value 275 Units / Year on year against the same period last year 26 Units, Indicator name New vehicle sales volume, imported vehicles / Value 473 Units / Year on year against the same period last year -18 Units, Indicator name EBITDA / Value ¥13,233 million / Year on year against the same period last year ¥2 million, Indicator name Interest-bearing debt/EBITDA ratio / Value 5.5 times / Year on year against the same period last year 0.7 times, Indicator name ROE / Value 6 % / Year on year against the same period last year -3.1 % |
| Assumptions Underlying the Business Outlook | Fluctuations in resource prices and supply volumes resulting from the unstable international situation may affect results. Numerical assumptions: not disclosed |
| Financial targets | ROE: 6.0% forecast for the fiscal year ending March 2027; 6.0% actual for the fiscal year ending March 2026. Other financial targets: not disclosed |
| Annual Dividend | Annual dividend per share ¥90 / Interim Not disclosed / End of period Not disclosed |
| Payout ratio | Consolidated payout ratio: 29.6% |
| Capital expenditures | ¥15,025 million |
| New initiatives | Absorption merger of 神奈川中央交通東㈱ and 神奈川中央交通西㈱ on 1 April 2025, 東光㈱ became a consolidated subsidiary on 1 April 2025, ㈱水島商事, ㈲林間商事 and ㈱エムエス企画 became consolidated subsidiaries on 7 January 2026, New restaurant openings in the food-service business, Promote condominium sales in the fiscal year ending March 2027 |
Items this document does not state (14)
Gross Profit MarginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsAcquisition of treasury sharesOrders received and order backlogMarket Size / ShareKey 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.Revenue for the fiscal year ending March 2026 increased due to factors including higher unit sales in the automobile sales business. Operating profit declined due to higher depreciation and amortization resulting from increased capital investment in the passenger transportation business, as well as higher personnel expenses resulting from improved employee compensation. Net income declined due to factors including the reaction to the partial reinstatement of deferred tax assets in the previous fiscal year. Operating profit for the fiscal year ending March 2027 is expected to decline due to lower unit sales of trucks and buses.
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