Odakyu Electric Railway (9007) investor relations material

Executive summary

• Operating revenue for FY3/2026 3Q was ¥307.8 bn, down 1.5% year-over-year, mainly due to extraordinary factors in Life Services; operating profit rose 1.1% to ¥45.2 bn, while profit attributable to owners of parent fell 19.7% to ¥34.9 bn due to the absence of prior year extraordinary gains.

• Comprehensive income decreased 14.8% year-over-year to ¥37,431 million.

• FY3/2026 full-year forecasts remain unchanged: operating revenue expected at ¥425.0 bn (+0.5% YoY), operating profit at ¥53.0 bn (+3.0%), and profit at ¥35.0 bn (−32.6%), with profit decline reflecting absence of one-time gains.

Financial highlights

• 3Q operating revenue: ¥307.9 bn (−1.5% YoY); operating profit: ¥45.2 bn (+1.1% YoY); profit attributable to owners: ¥34.9 bn (−19.7% YoY).

• Ordinary profit for the nine months was ¥43,814 million, down 2.7% year-over-year.

• Extraordinary income dropped ¥10.9 bn YoY, mainly due to the absence of gains from the sale of subsidiaries and associates.

• Total assets increased to ¥1,381.5 bn as of December 31, 2025, driven by higher cash and investments; liabilities rose ¥61.4 bn to ¥882.1 bn, mainly from increased interest-bearing debt.

• Net assets rose to ¥499,319 million, with an equity-to-asset ratio of 36.1%.

Outlook and guidance

• FY3/2026 full-year guidance: operating revenue ¥425.0 bn (+0.5% YoY), operating profit ¥53.0 bn (+3.0%), profit attributable to owners ¥35.0 bn (−32.6%).

• Basic earnings per share forecasted at ¥101.38 for the full year.

• Transportation and Real Estate segments expected to drive revenue and profit growth, offsetting declines in Life Services.

• Dividend forecast for FY3/2026 is ¥50 per share.