Worth reading
57In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
340
¥100 million (change in the operating revenue target)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revisedNet Sales+6.4%
基準 530,000Target564,000million
Operating profit+14.1%
基準 71,000Target81,000million
Each line is the climb from the baseline the document states to the target it sets. The slope is scaled against the largest climb in this document. The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
ROEMaintain the current level → Approximately 10%
Only the target level is shown because the current level for comparison was not provided.What happened to the previous planOperating revenue: ¥530,000 million; operating income: ¥71,000 million; EBITDA: ¥115,000 million; ROE: maintain the current level → Not disclosed
Investment amount by sectorField Growth Investment / Initial assumption at announcement ¥230 billion / After update ¥230 billion, Field Maintenance and replacement investments / Initial assumption at announcement ¥130 billion / After update ¥130 billion, Field Safety investment / Initial assumption at announcement ¥70.0 billion / After update ¥80.0 billion
Statements about the use of capital
Payout ratio / DOE policyThrough FY2027, the company will pay dividends with a consolidated payout ratio of 35% or more. It intends to provide stable, long-term shareholder returns and increase dividends in line with earnings growth.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Treasury share acquisition policyThrough FY2027, the company intends to conduct share buybacks flexibly.
Key initiatives
01Pursuit of uncompromising safety and security
02Promotion of TPC sleeper conversion
03Early introduction of new rolling stock
04Expansion of investment in human capital
05Transit-oriented community development centered on stations
06Connecting communities to communities, communities to people, and people to people
07Pursuit and exploration of new development opportunities
Plan assumptionsThe passenger attrition rate resulting from the fare revision is expected to be broadly in line with the initial assumption., In FY2027, the company aims to generate additional revenue through operating initiatives in addition to trend-driven growth., Review the railway maintenance plan in light of inflation and other factors., Operating cash flow during the period is expected to be in line with the initial assumption, based on land acquisitions and other activities that will be monetized after the period.
Segment targetSegment Transportation services / Initial operating revenue target ¥189.0 billion / Revised operating revenue target ¥196 billion / Change in operating revenue +¥7.0 billion / Initial operating income target ¥20.5 billion / Revised operating income target ¥23.5 billion / Change in operating income +¥3.0 billion, Segment Of which: railway transportation revenue / Initial operating revenue target ¥171.0 billion / Revised operating revenue target ¥178 billion / Change in operating revenue +¥7.0 billion / Initial operating income target Not disclosed / Revised operating income target Not disclosed / Change in operating income Not disclosed, Segment Real estate and hotels / Initial operating revenue target ¥167.0 billion / Revised operating revenue target ¥188 billion / Change in operating revenue +¥21 billion / Initial operating income target ¥34.0 billion / Revised operating income target ¥39.5 billion / Change in operating income +¥5.5 billion, Segment Retail and restaurants / Initial operating revenue target ¥80.0 billion / Revised operating revenue target ¥82.0 billion / Change in operating revenue +¥2.0 billion / Initial operating income target ¥4 billion / Revised operating income target ¥4.5 billion / Change in operating income +¥500 million, Segment Construction / Initial operating revenue target ¥110.0 billion / Revised operating revenue target ¥118 billion / Change in operating revenue +¥8 billion / Initial operating income target ¥8 billion / Revised operating income target ¥8.5 billion / Change in operating income +¥500 million, Segment Business services / Initial operating revenue target ¥88 billion / Revised operating revenue target ¥96 billion / Change in operating revenue +¥8 billion / Initial operating income target ¥5.5 billion / Revised operating income target ¥5.5 billion / Change in operating income Not disclosed, Segment Total / Initial operating revenue target ¥530 billion / Revised operating revenue target ¥564.0 billion / Change in operating revenue +¥34 billion / Initial operating income target ¥71.0 billion / Revised operating income target ¥81.0 billion / Change in operating income +¥10.0 billion
Risks identified by the company
Economic conditions in Japan, overseas and Kyushu
Real estate market conditions
Progress of individual projects
Changes in laws and regulations
Other broad-based risks and factors
Reason for revision or withdrawal
Although the impact of the fare revision was in line with expectations, the revenue target was revised upward following higher-than-expected railway transportation revenue. The railway maintenance plan was reviewed in light of inflation and other factors. The Hakata Station Sky City Project has been discontinued, but the company will continue to pursue and explore new development opportunities.
| Item | Details |
|---|---|
| Plan name | JR Kyushu Group Medium-Term Management Plan 2025-2027 |
| Plan period | FY2025-FY2027 (fiscal year ending March 2028) |
| Progress against the plan | Partially revised |
| Sales Target | ¥530,000 million → ¥564,000 million |
| Operating profit target | ¥71,000 million → ¥81,000 million |
| ROE target | Maintain the current level → Approximately 10% |
| Payout ratio / DOE policy | Through FY2027, the company will pay dividends with a consolidated payout ratio of 35% or more. It intends to provide stable, long-term shareholder returns and increase dividends in line with earnings growth. |
| Treasury share acquisition policy | Through FY2027, the company intends to conduct share buybacks flexibly. |
| Investment amount by sector | Field Growth Investment / Initial assumption at announcement ¥230 billion / After update ¥230 billion, Field Maintenance and replacement investments / Initial assumption at announcement ¥130 billion / After update ¥130 billion, Field Safety investment / Initial assumption at announcement ¥70.0 billion / After update ¥80.0 billion |
| Segment target | Segment Transportation services / Initial operating revenue target ¥189.0 billion / Revised operating revenue target ¥196 billion / Change in operating revenue +¥7.0 billion / Initial operating income target ¥20.5 billion / Revised operating income target ¥23.5 billion / Change in operating income +¥3.0 billion, Segment Of which: railway transportation revenue / Initial operating revenue target ¥171.0 billion / Revised operating revenue target ¥178 billion / Change in operating revenue +¥7.0 billion / Initial operating income target Not disclosed / Revised operating income target Not disclosed / Change in operating income Not disclosed, Segment Real estate and hotels / Initial operating revenue target ¥167.0 billion / Revised operating revenue target ¥188 billion / Change in operating revenue +¥21 billion / Initial operating income target ¥34.0 billion / Revised operating income target ¥39.5 billion / Change in operating income +¥5.5 billion, Segment Retail and restaurants / Initial operating revenue target ¥80.0 billion / Revised operating revenue target ¥82.0 billion / Change in operating revenue +¥2.0 billion / Initial operating income target ¥4 billion / Revised operating income target ¥4.5 billion / Change in operating income +¥500 million, Segment Construction / Initial operating revenue target ¥110.0 billion / Revised operating revenue target ¥118 billion / Change in operating revenue +¥8 billion / Initial operating income target ¥8 billion / Revised operating income target ¥8.5 billion / Change in operating income +¥500 million, Segment Business services / Initial operating revenue target ¥88 billion / Revised operating revenue target ¥96 billion / Change in operating revenue +¥8 billion / Initial operating income target ¥5.5 billion / Revised operating income target ¥5.5 billion / Change in operating income Not disclosed, Segment Total / Initial operating revenue target ¥530 billion / Revised operating revenue target ¥564.0 billion / Change in operating revenue +¥34 billion / Initial operating income target ¥71.0 billion / Revised operating income target ¥81.0 billion / Change in operating income +¥10.0 billion |
| Plan assumptions | The passenger attrition rate resulting from the fare revision is expected to be broadly in line with the initial assumption., In FY2027, the company aims to generate additional revenue through operating initiatives in addition to trend-driven growth., Review the railway maintenance plan in light of inflation and other factors., Operating cash flow during the period is expected to be in line with the initial assumption, based on land acquisitions and other activities that will be monetized after the period. |
| Key initiatives | Pursuit of uncompromising safety and security, Promotion of TPC sleeper conversion, Early introduction of new rolling stock, Expansion of investment in human capital, Transit-oriented community development centered on stations, Connecting communities to communities, communities to people, and people to people, Pursuit and exploration of new development opportunities |
| Results under the previous plan | Operating revenue: ¥530,000 million; operating income: ¥71,000 million; EBITDA: ¥115,000 million; ROE: maintain the current level → Not disclosed |
| Reason for revision or withdrawal | Although the impact of the fare revision was in line with expectations, the revenue target was revised upward following higher-than-expected railway transportation revenue. The railway maintenance plan was reviewed in light of inflation and other factors. The Hakata Station Sky City Project has been discontinued, but the company will continue to pursue and explore new development opportunities. |
| Risks identified | Economic conditions in Japan, overseas and Kyushu, Real estate market conditions, Progress of individual projects, Changes in laws and regulations, Other broad-based risks and factors |
| Date of board resolution | 11 May 2026 |
| Publication date | 11 May 2026 |
Items this document does not state (8)
Operating profit margin targetNet income targetROIC targetCost of capitalSelf-assessment of PBR and share priceTotal investment planNon-financial targetsSize of the Target Market
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.The company cited railway transportation revenue exceeding expectations, despite the impact of the fare revision being in line with expectations, progress against targets in each business, and a review of the railway maintenance plan in light of inflation and other factors. Although the Hakata Station Sky City Project has been discontinued, the company will continue to pursue and explore new development opportunities.
How to read this page
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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.