Financial Report FY2026Q4

Fiscal 2026 (Year ended March 31, 2026)

All financial information has been prepared in accordance with accounting principles generally accepted in Japan.

"JR East" refers to East Japan Railway Company on a consolidated basis, or if the context so requires, on a non-consolidated basis. English translation from the original Japanese-language document.

April 30, 2026

Stock Exchange Listing Tokyo

Securities Code 9020

URL https://www.jreast.co.jp/e

Representative KISE Yoichi, President and CEO

Contact Person SHIOHARA Satoshi, General Manager, Corporate Communications Department (Tel. +81-3-5334-1300)

Scheduled Date of Ordinary General Meeting of Shareholders June 19, 2026 Scheduled Date of Dividend Payment Commencement June 22, 2026 Scheduled Date for Release of Annual Securities Report June 17, 2026 Preparation of Supplementary Explanations of Financial Results: Yes

Financial Results Presentation to Be Held: Yes

1. Consolidated Results for Fiscal 2026 (Year Ended March 31, 2026)

   (Amounts less than one million yen, except for per share amounts, are omitted.)

   1. Consolidated financial results

      (Percentages represent percentage changes as compared with the previous fiscal year.)

      	Operating revenues		Operating income		Ordinary income		Profit attributable to owners of parent
      Fiscal 2026 Fiscal 2025	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
      	3,084,679 2,887,553	6.8 5.8	414,258 376,786	9.9 9.2	351,645 321,564	9.4 8.4	247,846 224,285	10.5 14.2

      Note: Comprehensive income - Fiscal 2026: 272,092 million yen 30.5%, Fiscal 2025: 208,489 million yen (25.8%)

      	Earnings per share－ Basic	Earnings per share－ Diluted	Return on average equity	Ratio of ordinary income to average assets	Ratio of operating income to operating revenues
      	Yen	Yen	%	%	%
      Fiscal 2026	219.42	-	8.4	3.3	13.4
      Fiscal 2025	198.29	-	8.0	3.2	13.0

      Reference: Equity in net income of affiliated companies - Fiscal 2026: 9,174 million yen, Fiscal 2025: 10,280 million yen

   2. Consolidated financial position

      	Total assets	Net assets	Equity ratio	Shareholders' equity per share
      	Millions of yen	Millions of yen	%	Yen
      Fiscal 2026	10,820,726	3,060,091	28.2	2,698.78
      Fiscal 2025	10,174,224	2,872,216	28.1	2,527.69

      Reference: Shareholders' equity - Fiscal 2026: 3,047,109 million yen, Fiscal 2025: 2,859,544 million yen

   3. Consolidated cash flows

   	Net cash provided by operating activities	Net cash used in investing activities	Net cash provided by financing activities	Cash and cash equivalents at end of year
   Fiscal 2026 Fiscal 2025	Millions of yen 765,072 732,251	Millions of yen (877,606) (783,417)	Millions of yen 138,715 3,664	Millions of yen 262,057 233,473

2. Dividends (Year Ended March 31, 2025 and 2026 and Year Ending March 31, 2027)

   (Record date)	Dividends per share					Total dividends (annual)	Dividend ratio (consolidated)	Ratio of dividends to shareholders' equity (consolidated)
   	1st quarter end	2nd quarter end	3rd quarter end	Year end	Total annual
   	Yen	Yen	Yen	Yen	Yen	Millions of yen	%	%
   Fiscal 2025	-	26.00	-	34.00	60.00	68,062	30.3	2.4
   Fiscal 2026	-	35.00	-	39.00	74.00	83,778	33.7	2.8
   (Forecast) Fiscal 2027	-	42.00	-	42.00	84.00		37.2

3. Forecasts for Fiscal 2027 (Year Ending March 31, 2027)

(Percentages represent percentage changes as compared with the previous fiscal year.)

※ Notes

1. Significant changes in the scope of consolidation during the period: No Newly consolidated － excluded －

2. Changes in accounting policies, changes in accounting estimates and restatement of revisions

   1. Changes in accounting policies due to revisions to accounting standards : No

   2. Changes in accounting policies other than as set out in i above : No

   3. Changes in accounting estimates : No

   4. Restatement of revisions : No

3. Number of issued shares (common stock)

   Fiscal 2026	1,134,412,200 shares	Fiscal 2025	1,134,412,200 shares
   Fiscal 2026	5,343,717 shares	Fiscal 2025	3,125,979 shares
   Fiscal 2026	1,129,558,387 shares	Fiscal 2025	1,131,120,620 shares

   1. Issued shares at period-end

      (including treasury stock)

   2. Treasury stock at period-end

   3. Average number of shares during period

1. Non-consolidated Results for Fiscal 2026 (Year Ended March 31, 2026)

(Amounts less than one million yen, except for per share amounts, are omitted.)

1. Non-consolidated financial results

   (Percentages represent percentage changes as compared with the previous fiscal year.)

   	Operating revenues		Operating income		Ordinary income		Profit
   Fiscal 2026 Fiscal 2025	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
   	2,225,735 2,077,680	7.1 4.5	302,007 266,068	13.5 4.8	254,161 216,531	17.4 7.0	197,024 152,600	29.1 4.0

   	Earnings per share－ Basic	Earnings per share－ Diluted
   	Yen	Yen
   Fiscal 2026	173.93	-
   Fiscal 2025	134.55	-

2. Non-consolidated financial position

Reference: Shareholders' equity - Fiscal 2026: 2,231,553 million yen, Fiscal 2025: 2,095,153 million yen

※ These financial results are not subject to auditing by a certified public accountant or an audit firm.

※ Explanation of appropriate use of forecasts of business results and other important items

The forecasts of business results and other forward-looking statements in this document are based on information currently available and certain assumptions that JR East deemed reasonable as of the date of this document. Actual results may differ from such forward-looking statements for a variety of reasons. Regarding the forecasts of business results, please refer to "Outlook for the Year Ending March 31, 2027" on page 7 of this document.

JR East is scheduled to hold an analysts' conference on May 1, 2026, to present its operating results for Fiscal 2026. Regarding the

presentation materials of such conference, please refer to JR East's website.

Contents of Attachments

1. Operating Results and Financial Position 5

   1. Analysis of Operating Results 5

   2. Analysis of Financial Position 8

   3. Basic Dividend Policy and Dividends for Fiscal 2026 and Fiscal 2027 8

2. Basic Policy for Selection of Accounting Standards 8

3. Consolidated Financial Statements and Main Notes 9

   1. Consolidated Balance Sheets (Unaudited) 9

   2. Consolidated Statements of Income and Comprehensive Income (Unaudited) 11

   3. Consolidated Statements of Changes in Net Assets (Unaudited) 13

   4. Consolidated Statements of Cash Flows (Unaudited) 15

   5. Notes to Consolidated Financial Statements (Unaudited) 16

      (Notes on Going Concern Assumption (Unaudited)) 16

      (Notes on Segment Information, etc. (Unaudited)) 16

      (Notes on Per Share Information (Unaudited)) 18

      (Notes on Significant Subsequent Events (Unaudited)) 18

      (Additional Information (Unaudited)) 19

4. Non-consolidated Financial Statements 20

   1. Non-consolidated Balance Sheets (Unaudited) 20

   2. Non-consolidated Statements of Income (Unaudited) 23

   3. Non-consolidated Statements of Changes in Net Assets (Unaudited) 25

(Unless otherwise stated, all comparisons are between the fiscal year under review and the previous fiscal year.)

(i) Summary of the Fiscal Year Ended March 31, 2026

Overview

In the fiscal year ended March 31, 2026, although the Japanese economy recovered at a moderate pace, it remained exposed to downside risks, including rising prices, U.S. trade policies, and the impact of the situation in the Middle East, resulting in an uncertain outlook.

In July 2025, the JR East Group (the Group) formulated "To the Next Stage" 2034, its new Group management vision, in order to further accelerate its sustainable growth by going beyond the past "norm." Under "To the Next Stage" 2034, while continuing to position "safety" as a top management priority, we worked on "Improving and Strengthening Group Governance," "Trust - Foundation and Brand Identity of All Our Businesses," a dual-axis management approach centered on "Mobility (Transportation)" and "Lifestyle Solutions (Retail & Services, Real Estate & Hotels, and Others)," "Sustainability," and "Growth-Driven Strategy."

Aiming to achieve "Ultimate Safety," under the "Group Safety Plan 2028," the Group has adopted the theme of "Taking the nature of railway work to heart, imagine the unexpected, reach for safety!," it has taken proactive safety measures by strengthening its foundations for safety across the entire Group, in order to realize "Zero customer fatalities or injuries, zero employee fatalities." In order to improve the levels of the safety and stability of our transportation services, we worked on strengthening systems, ground equipment, etc., identifying signs of failure using monitoring technology, and introducing automatic crack identification technology and technology to compare cracks from two different periods for Shinkansen tunnel inspections. We also took countermeasures for major earthquakes and other measures to prevent transportation disruptions, such as seismic reinforcement of elevated railway tracks and utility poles, derailment prevention measures on Shinkansen trains, and the introduction to the early earthquake detection system for conventional lines, of ocean bottom seismometer information obtained from the Seafloor Observation Network for Earthquakes and Tsunamis along the Japan Trench, which had already been introduced to the early earthquake detection system for Shinkansen. In addition, in order to further improve safety levels at stations, we introduced an escalator congestion emergency stop system and a system to detect when customers are in close proximity to train cars, while also installing platform doors using the fare system established by the national government to make train stations barrier-free.

During the fiscal year under review, a transportation disruption caused by overhead line failure inside Shimbashi Station on the Yamanote Line occurred in May 2025, a failure in the Yamagata Shinkansen E8 series trains occurred in June, and transportation disruptions caused by power failure accidents on the Yamanote, Keihin-Tohoku, and Joban Lines occurred in January 2026 and on the Utsunomiya Line in February. In addition, an escalator fire occurred at Hatchobori Station on the Keiyo Line, and a train door opened while the train was running on the Chuo Main Line in March. This series of transportation troubles has caused significant concern, trouble, and inconvenience to our customers. We will once again conduct a fundamental review of all our operations and work to further strengthen and improve the safety and stability of our transportation services. In particular, as railway systems involve a wide range of interrelated facilities and operations, including rolling stock, tracks, and electrical systems, we will enhance our comprehensive knowledge, skills, and technical expertise across different operational areas in order to prevent transportation disruptions and improve our response capabilities. We will also work to introduce advanced technologies, including AI and drones. More specifically, recognizing that humans are the last line of defense for safety, we will work on (1) reviewing our business processes (work procedure) concerning the safety and stability of our transportation services, (2) improving our capabilities to respond to any emergencies, (3) improving the levels of our inspections and checks, (4) improving and strengthening the technical skills of our front-line employees who are engaged in facility maintenance and accident recovery, (5) increasing repair expenses related to facility maintenance and management, and (6) maintaining systems and technological strengths of our Group companies and partner companies.

With respect to "Improving and Strengthening Group Governance," a series of misconduct cases occurred within the Group from 2024 to 2025, including fraudulent personnel cost claims related to commissioned projects and government subsidy programs for central government ministries and agencies, inappropriate press-fit force values in wheelset assembly operations, and warnings from the Japan Fair Trade Commission about our conduct that may violate the Antimonopoly Act, all of which have undermined the trust of our stakeholders. In order to restore confidence in our management, we established an "Expert Committee for Improving and Strengthening Group Governance," which comprises external experts, on July 1, 2025. Based on a report compiled by the Committee and discussions at meetings of the Board of Directors, the Group announced specific improvement measures on March 18, 2026. While updating the Group's basic approach to its internal control system, we will work towards establishing Group governance by implementing improvement measures based on a "sound corporate culture," "necessary structures and rules," and "active communication," thereby building a foundation for promoting "To the Next Stage" 2034 and pursuing new business areas.

With respect to "Trust - Foundation and Brand Identity of All Our Businesses," we view past events that could threaten the very foundation of the Group's business, such as a series of transportation disruptions and multiple misconduct cases, as a harsh lesson, and we remain committed to ensuring compliance and to continuously improving and strengthening governance across the entire Group. We will not only carry forward the experience and expertise cultivated by our predecessors but also strive to become a true technical service industry company, one that transforms society through cutting-edge technology capabilities. In doing so, we will meet the expectations of our stakeholders and further strengthen "trust," which is positioned as the foundation of all our businesses in "To the Next Stage" 2034.

In "Mobility (Transportation)," we worked to promote customer mobility in the JR East area and enhance profitability by promoting the charm of the Hokuriku region through the "Japanese Beauty Hokuriku" campaign, implementing the "Tsubasa Tsunagu" project to highlight the Yamagata Shinkansen, which is being replaced with new Series E8 rolling stock, newly offering the "JR EAST PASS" to foreign visitors to Japan, and expanding the service area of the "JR