#NagoyaRailway

Announces payment completion and changes in the number of shares. The disposed shares changed from 98,429 to 97,829, and the total amount changed from 186,572,175 yen to 185,434,875 yen. Allotment recipients and beneficiaries were partially revoked leading to changes. The impact on future performance is expected to be minor.

For the first quarter of fiscal year 2026, consolidated net sales are not disclosed; however, segment-level revenue and profit are presented, with operating income remaining opaque. The cross-cutting structure across transportation, real estate, leisure, and hospitality segments is a factor in allocations and declines. The outlook will be disclosed with the forecast for the year ending March 2027.

Nagoya Railway resolved to reorganize its consolidated subsidiaries, Meitetsu Department Store and Meitetsu Customer Service, in July 2026. The dissolution of Meitetsu Department Store and business succession will be carried out, along with planned debt forgiveness.

Nagoya Railway has announced that relevant officers will forgo 30% or 20% of their monthly fixed compensation in June 2026, demonstrating responsibility amid the review of redevelopment plans.

Nagoya Railway will change its dividend policy starting from the fiscal year ending March 2027, setting a minimum dividend of 60 yen per share and maintaining a consolidated payout ratio of 30% or higher.

Nagoya Railway has expanded its shareholder benefits program, increasing benefits for long-term shareholders and setting a minimum holding period. The new program will be applied from the end of March 2027, aiming to promote long-term shareholding by shareholders.