Kyushu Railway Company · TSE:9142
Kyushu Railway — Q1 FY27.3 Earnings Presentation
32 slides from Kyushu Railway's earnings presentation, Aug 4, 2026
Slide 1: FY27.3 First Quarter Investors Meeting
FY27.3 First Quarter Investors Meeting AUGUST 4, 2026 KYUSHU RAILWAY COMPANY
Slide 2: Contents
CONTENTS Ⅰ Financial Results for the First Three Months of FY27.3 ３ Ⅱ Full-Year Performance Forecasts and Dividend Forecasts for FY27.3 8 Ⅲ Status of Segments 15 Ⅳ Progress on the Medium-Term Business Plan 24 2
Slide 3: Financial Results for the First Three Months of FY27.3
Ⅰ Financial Results for the First Three Months of FY27.3 3
Slide 4: Consolidated Financial Highlights for the Three-Month Period Ended June 30, 2026
Consolidated Financial Highlights for the Three-Month Period Ended June 30, 2026 （\bil） Key points 3 months ended 3 months ended YoY ⚫ Operating revenue increased year on year June 30, 2025 June 30, 2026 due to higher railway transportation Operating revenue 117.5 125.8 8.3 107.1% revenues and other
Slide 5: Consolidated Balance Sheets as of June 30, 2026
Consolidated Balance Sheets as of June 30, 2026 （\bil） Results 3 months ended Increase Major factors FY26.3 June 30, 2026 /Decrease Assets 1,222.4 1,238.4 15.9 Current assets 247.7 260.3 12.6 Increase in work in process Non-current assets 974.7 978.0 3.3 Increase in property, plant and equipment Fix
Slide 6: Consolidated Results for the First Three Months of FY27.3 (by Segment)
Consolidated Results for the First Three Months of FY27.3 (by Segment) （\bil） 3 months ended 3 months ended YoY Major factors June 30, 2025 June 30, 2026 Operating revenue 117.5 125.8 8.3 107.1% Transportation 45.2 47.3 2.0 104.6% Railway Business (non-consolidated) 44.9 46.9 2.0 104.5% Increase due
Slide 7: Non-Consolidated Results for the First Three Months of FY27.3
Non-Consolidated Results for the First Three Months of FY27.3 (\bil) 3 months 3 months ended ended YoY Major Factors June 30, 2025 June 30, 2026 Operating revenue 68.7 71.5 2.7 104.0% Railway transportation 41.0 43.0 1.9 104.8% Increase due to the transition to new commuter pass pricing revenues Shi
Slide 8: Full-Year Performance Forecasts and Dividend Forecasts for FY27.3
Ⅱ Full-Year Performance Forecasts and Dividend Forecasts for FY27.3 8
Slide 9: Consolidated Financial Forecast Highlights for FY27.3
Consolidated Financial Forecast Highlights for FY27.3 （\bil） Key points Medium-Term Results Forecasts FY26.3 FY27.3 YoY Business Plan ⚫ Consolidated operating revenue and targets operating income are expected to increase, driven primarily by higher railway Operating revenue 500.3 520.5 20.1 104.0% 5
Slide 10: The Impact of the 2026 Kumamoto Earthquake
The Impact of the “2026 Kumamoto Earthquake” An earthquake with a maximum seismic intensity of 7 occurred on July 28, 2026, centered in Uki City and Hikawa Town, Kumamoto Prefecture. Operations are currently suspended on the Kyushu Shinkansen (between Kumamoto and Kagoshima-Chuo) and the Kagoshi
Slide 11: Consolidated Financial Forecasts for FY27.3 (by Segment)
Consolidated Financial Forecasts for FY27.3 (by Segment) (\bil) Medium-Term Results Forecasts YoY Major factors Business Plan FY26.3 FY27.3 targets Operating revenue 500.3 520.5 20.1 104.0% 564.0 Transportation 190.6 193.0 2.3 101.2% Increase in Railway transportation revenues 196.0 Railway Business
Slide 12: Non-consolidated Financial Forecasts for FY27.3
Non-consolidated Financial Forecasts for FY27.3 （\bil） Results Forecasts YoY Major factors FY26.3 FY27.3 Operating revenue 272.9 286.1 13.1 104.8% Railway transportation revenues 172.6 175.1 2.4 101.4% Increase due to the transition to new commuter pass pricing Shinkansen 69.1 69.3 0.1 100.2% Conven
Slide 13: Major Factors Affecting Railway Transportation Revenues
Major Factors Affecting Railway Transportation Revenues (\bil) FY26.3 FY27.3 YoY Major factors results forecast Total 172.6 175.1 2.4 101.4% Commuter pass 37.0 38.6 1.5 104.1% Non-commuter pass 135.5 136.5 1.0 100.7% Shinkansen 69.1 69.3 0.1 100.2% Commuter pass 3.8 3.9 0.1 102.8% Transition to new
Slide 14: Shareholder Returns
Shareholder Returns JR Kyushu places importance on the stable provision of return to shareholders over the long term. Over the period up to FY28.3, we will aim for a consolidated dividend payout ratio of 35% or higher and flexibly implement share repurchases. Based on the above policy and taking
Slide 15: Status of Segments
Ⅲ Status of Segments 15
Slide 16: Transportation Segment
Transportation Segment Looking at railway transportation revenues in Q1 FY27.3, commuter revenues were in line with expectations, while non-commuter revenues exceeded expectations. 【Results】 【Forecasts】 （\bil） （\bil） 3months 3months Results Forecasts ended June ended June YoY YoY FY26.3 FY27.3 30,
Slide 17: Railway Business (Transportation Data)
Railway Business (Transportation Data) Railway transportation revenues (\bil) 3 months ended 3 months ended YoY Major Factors June 30, 2025 June 30, 2026 Total 41.0 43.0 1.9 104.8% Commuter pass 9.1 10.1 0.9 110.7% Non-commuter pass 31.8 32.8 1.0 103.1% Cargo 0.0 0.0 0.0 184.3% Shinkansen 16.0 16.6
Slide 18: Status of Inbound Measures in the Railway Business
Status of Inbound Measures in the Railway Business In Q1 FY27.3, inbound revenue progressed in line with expectations and was broadly unchanged year on year overall, as increased use of regular tickets offset a decline in JR- KYUSHU RAIL PASS sales. Inbound Revenue (Approximate) Demand for JR-KYUS
Slide 19: Real Estate and Hotels Segment: Real Estate Leasing Business
Real Estate and Hotels Segment: Real Estate Leasing Business In Q1 FY27.3, station building tenant sales exceeded both the previous year’s level and expectations, mainly led by JR Hakata City. 【Results】 【Forecasts】 （\bil） （\bil） 3months 3months Results Forecasts ended June ended June YoY YoY FY26.
Slide 20: Real Estate and Hotels Segment: Real Estate Sales Business
Real Estate and Hotels Segment: Real Estate Sales Business In Q1 FY27.3, operating revenue and operating income were broadly unchanged year on year, as increased sales of properties offset lower condominium sales. In terms of sales of properties, one rental apartment property was sold to a third
Slide 21: Real Estate and Hotels Segment: Hotel Business
Real Estate and Hotels Segment: Hotel Business In Q1 FY27.3, hotels with a high proportion of international guests continued to drive performance, with both occupancy rates and ADR exceeding Q1 FY26.3 levels. 【Results】 【Forecasts】 （\bil） （\bil） 3months 3months Results Forecasts ended June ended Ju
Slide 22: Retail and Restaurant Segment
Retail and Restaurant Segment In Q1 FY27.3, both retail stores and restaurants performed steadily. New store openings also progressed steadily in line with the plan. 【Results】 【Forecasts】 （\bil） （\bil） 3months 3months Results Forecasts ended June ended June YoY YoY FY26.3 FY27.3 30, 2025 30, 202
Slide 23: Construction Segment, Business Services Segment
Construction Segment, Business Services Segment Construction Segment 【Results】 【Forecasts】 （\bil） （\bil） 3months 3months Results Forecasts ended June ended June YoY YoY FY26.3 FY27.3 30, 2025 30, 2026 Operating revenue 17.7 20.7 3.0 116.9% 111.0 114.0 2.9 102.6% Operating income (0.6) (0.3) 0.2 - 7.
Slide 24: Progress on the Medium-Term Business Plan
Ⅳ Progress on the Medium-Term Business Plan 24
Slide 25: JR Kyushu Group Medium-Term Business Plan 2025–2027
JR Kyushu Group Medium-Term Business Plan 2025–2027 Key strategies and the management base to support them strategies Key (1) Realize Sustainable Mobility (2) City Building through Enhanced Services (3) Plant Seeds for the Future Collaboration among Businesses Management Human capital expansion in l
Slide 26: Key Strategy (1) Realize Sustainable Mobility Services: Increase in Value Provided to Customers
Key Strategy (1) Realize Sustainable Mobility Services: Increase in Value Provided to Customers We are implementing initiatives to improve customer satisfaction and create a more comfortable user environment, using increased railway transportation revenues from fare revisions as a source of fundin
Slide 27: Key Strategy (1): Resumption of Operations on the Hisatsu Line
Key Strategy (1) Realize Sustainable Mobility Services: Resumption of Operations on the Hisatsu Line (between Yoshimatsu and Hayato) Operations on the Hisatsu Line (between Yoshimatsu and Hayato), which had been suspended due to damage caused by the heavy rainfall beginning on August 6, 2025, resu
Slide 28: Key Strategy (2): Promotion of Customer Referrals between Business Segments
Key Strategy (2): City Building through Enhanced Collaboration among Businesses: Promotion of Customer Referrals between Business Segments We aim to generate a conglomerate premium by promoting customer referrals between business segments through the new membership tier program "JR KYUPO Waku Waku
Slide 29: Appendix
APPENDIX 29
Slide 30: Rail Fares and Charges in the Railway Business
Rail Fares and Charges in the Railway Business In April 2025, we implemented a revision of rail fares and charges for the first time in 29 years. Recognizing that it will become difficult to operate a sustainable railway business unless the cost increase caused by changes in the external environ
Slide 31: Monthly Information and Revise Rail Fares and Charges
Monthly Information and Revise Rail Fares and Charges Revise Rail Fares And Charges Monthly Information (Material from July 2024) ④ ① ②・③ ② ① ③ ③ Trend of Handling Revenues Revenue from tickets sold at JR Kyushu stations, through online JR Kyushu train reservation, and at travel agencies. The "Railw
Slide 32: Forward-Looking Statements
Forward-Looking Statements These materials contain forward-looking statements concerning business forecasts, targets, etc. of the JR Kyushu Group. These statements are judgments made by the Company based on information, projections, and assumptions available at the time of the materials’ creation. A
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