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Japan Airlines (9201) investor relations material
Japan Airlines Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record-high EBIT and revenue for Q3 FY2025, with revenue for the nine months ended December 31, 2025, rising 9.2% year-over-year to ¥1,513.7 billion, EBIT up 24.2% to ¥179.1 billion, and profit attributable to owners up 24.9% to ¥113.7 billion, driven by strong international and domestic passenger demand and effective demand stimulus measures.
International and domestic passenger sales grew strongly, supported by robust inbound demand and flexible revenue management.
The company maintained sufficient liquidity, with cash and cash equivalents at ¥900.2 billion and an unused credit line of ¥150.0 billion.
Safety incidents occurred, including two turbulence-related injuries and one engine shutdown, prompting enhanced safety measures.
Financial highlights
Revenue increased by ¥127.8 billion (+9.2%) year-over-year to ¥1,513.7 billion for Q3, with EBIT rising by ¥34.8 billion (+24.2%) to ¥179.1 billion and net profit up by ¥22.6 billion (+24.9%) to ¥113.7 billion.
Operating expenses increased by ¥105.1 billion (+8.4%), with fuel costs up 4.6% and personnel costs up 9.5%.
EBITDA margin improved to 20.0% from 18.8% year-over-year; EBIT margin improved from 10.4% to 13.1%.
Basic earnings per share rose to ¥254.08 from ¥208.45 year-over-year.
Total assets increased to ¥3,038.8 billion, and total equity rose to ¥1,267.5 billion as of December 31, 2025.
Outlook and guidance
FY2025 full-year revenue forecast at ¥1,977.0 billion and EBIT at ¥200.0 billion, with profit attributable to owners at ¥115.0 billion.
Dividend forecast for FY2025 is ¥92.00 per share, with no revisions to previous guidance.
Sensitivity to fuel and FX rates highlighted, with profit impact scenarios provided.
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Net income up 11.7% YoY, shareholder returns at 50.2%, CET1 ratio at 13.33%. - RM
Record 2025 net income, originations, and efficiency set up strong 2026 growth outlook. - KPIL
27% YOY revenue growth, strong profit and order book, and improved debt metrics drive outlook. - FSV
Annual revenues rose 5% to $5.50B, led by Residential growth and improved profitability. - HEXT
Revenue up 7.6% YoY, margin expands, and AI and acquisitions drive future growth. - 4188
Net income surged on discontinued operations gains, but outlook cut due to restructuring costs. - 021240
Record-high profits and strong rental growth, with overseas expansion led by Malaysia and Thailand. - 021240
Record revenue and profit growth in 2Q'25, led by robust domestic and overseas performance. - 021240
Record-high revenue and net profit in 3Q'24, driven by robust rental growth and overseas expansion. - 021240
Record revenue and profit, with strong growth in rental accounts and overseas markets.
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