FY2026 Q3 Financial Summary [Japanese GAAP] (Consolidated)

Overview of Results

During the first nine months of FY2026 consolidated cumulative period, operating revenue was JPY 195.392 billion (up 4.4% YoY), operating income was JPY 34.171 billion (up 17.0% YoY), ordinary income was JPY 33.154 billion (up 8.3% YoY), and net income attributable to owners of the parent was JPY 22.258 billion (up 10.1% YoY). The effects of the Osaka-Kansai Expo, expanding inbound demand, and contributions from subsidiaries Meiko Bus Co., Ltd. and Tsutenkaku Tourism Co., Ltd. supported the strong performance.

Performance by Segment

The Transportation segment recorded operating revenue of JPY 89.051 billion (up 5.9% YoY) and operating income of JPY 14.958 billion (up 20.2% YoY), driven by increased ridership on rail and bus services. The Real Estate segment posted operating revenue of JPY 35.362 billion (up 15.4% YoY) and operating income of JPY 10.122 billion (up 4.6% YoY), with strong sales in condominiums and increased revenues from hotel properties. The Distribution segment achieved operating revenue of JPY 23.056 billion (up 5.9% YoY) and operating income of JPY 3.623 billion (up 5.9% YoY). The Leisure and Services segment delivered operating revenue of JPY 36.467 billion (up 16.2% YoY) and operating income of JPY 3.940 billion (up 58.8% YoY), attaining growth both in revenue and profit. The Construction segment recorded operating revenue of JPY 33.993 billion (down 7.7% YoY) but operating income improved to JPY 1.706 billion (up 26.8% YoY), reflecting better profitability.

Summary of Financial Position

Total assets amounted to JPY 1.02347 trillion, up JPY 42.392 billion from the previous consolidated fiscal year-end. Total liabilities increased by JPY 24.798 billion to JPY 675.947 billion, mainly due to higher interest-bearing debt. Total net assets grew by JPY 17.594 billion to JPY 347.459 billion, with the equity ratio improving to 32.0% (31.7% at the previous fiscal year-end). Increases in treasury stock acquisition, quarterly net income recorded, and valuation gains on listed equity investments contributed to the growth in net assets.

Dividends and Earnings Forecast

The annual dividend forecast for FY2026 is JPY 50.00 (interim JPY 25.00, year-end JPY 25.00), an increase from JPY 40.00 in the previous fiscal year. There is no revision to the full-year consolidated earnings forecast, which anticipates operating revenue of JPY 271.4 billion (up 4.1% YoY), operating income of JPY 38.5 billion (up 11.0% YoY), and net income attributable to owners of the parent of JPY 22.6 billion (up 0.2% YoY).