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Tokyu (9005) investor relations material
Tokyu Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Operating revenue for the nine months ended December 31, 2025, was ¥784.6B, nearly flat year-over-year (-0.1%), while operating profit declined 5.8% YoY.
Profit attributable to owners of parent increased 8.4% YoY to ¥74.2B, driven by negative goodwill from Tokyu REIT becoming an equity-method affiliate.
Life Service and Hotel and Resort businesses outperformed forecasts, supporting overall results.
Comprehensive income decreased 1.5% YoY to ¥70.6B.
Financial highlights
3Q FY2025 operating revenue: ¥784.6B (-0.1% YoY), operating profit: ¥88.2B (-5.8% YoY), profit attributable to owners of parent: ¥74.2B (+8.4% YoY), EPS: ¥129.73 (+14.73 YoY).
EBITDA for 3Q FY2025: ¥153.0B (-2.7% YoY).
Non-operating revenue surged (+83.6% YoY) due to investment gains and dividend income.
Total assets at 3Q: ¥2,780.3B (+3.0% YoY), equity ratio: 31.5% (+0.8p YoY).
Net assets increased to ¥921.8B.
Outlook and guidance
FY2025 full-year forecasts revised upward: operating revenue ¥1,088.0B (+3.1% YoY), operating profit ¥106.0B (+2.4% YoY), profit attributable to owners of parent ¥84.0B (+5.4% YoY), EPS ¥146.88.
Ordinary profit forecast at ¥117.6B (+9.2% YoY).
Annual dividend forecast raised to ¥30/share; share buyback up to ¥10B or 6.5M shares planned.
Favorable business environment expected to continue, with growth in transportation and inbound demand, but inflation and rising costs remain risks.
- Profit rose 13.7% on Tokyu REIT gains despite lower revenue; outlook revised upward.9005
Q2 202628 Nov 2025 - Revenue and profit fell year-over-year, but strong hotel and life service segments drove outperformance.9005
Q1 202629 Aug 2025 - Record 1H profit and raised full-year forecasts, with higher dividends and share buyback.9005
Q2 202513 Jun 2025 - Record Q1 profit growth, but full-year profit to fall on higher costs and fewer condo deliveries.9005
Q1 202513 Jun 2025 - Record profit and net income growth, with strong dividends and stable outlook.9005
Q4 20256 Jun 2025 - Record profit and revenue growth with robust outlook and stable dividends.9005
Q3 20255 Jun 2025
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