Tobu Railway : 【Summary】Consolidated Financial Results for the Year Ended March 31, 2025

Operating revenue

Operating profit

Ordinary profit

Profit attributable to owners of parent

Basic earnings per share

Full year

Millions of

yen

640,000

%

1.4

Millions of

yen

68,000

%

(8.9)

Millions of

yen

62,000

%

(14.7)

Millions of

yen

50,000

%

(2.6)

Yen

246.43

Total assets

Net assets

Equity ratio

Net assets per share

As of

March 31, 2025

March 31, 2024

Millions of yen

1,640,769

1,587,714

Millions of yen

421,833

422,565

%

25.7

26.6

Yen

2,113.16

2,044.20

Current assets

Cash and deposits

31,448

35,110

Notes and accounts receivable - trade

69,796

69,342

Contract assets

5,343

5,558

Short-term loans receivable

1,824

1,987

Land and buildings for sale in lots

24,238

30,621

Prepaid expenses

2,659

2,829

Other

33,808

31,524

Allowance for doubtful accounts

(165)

(135)

Total current assets

168,953

176,839

Non-current assets

Property, plant and equipment

Buildings and structures, net

536,825

534,156

Machinery, equipment and vehicles, net

78,715

79,016

Land

636,462

667,311

Construction in progress

101,868

116,500

Other, net

13,396

13,909

Total property, plant and equipment

1,367,269

1,410,893

Intangible assets

Contribution for utilities

1,635

1,443

Other

16,971

18,418

Total intangible assets

18,606

19,861

Investments and other assets

Investment securities

101,459

99,253

Long-term loans receivable

361

1,200

Distressed receivables

358

411

Retirement benefit asset

9,400

9,188

Deferred tax assets

13,063

11,360

Other

25,422

25,058

Allowance for doubtful accounts

(832)

(867)

Total investments and other assets

149,234

145,606

Total non-current assets

1,535,110

1,576,361

Total assets

1,704,063

1,753,200

Consolidated Statements of Income

(Millions of yen)

For the fiscal year ended March 31, 2024

For the fiscal year ended March 31, 2025

Operating revenue

635,964

631,461

Operating expenses

Operating expenses and cost of sales of transportation

442,891

433,773

Selling, general and administrative expenses

119,189

123,083

Total operating expenses

562,081

556,856

Operating profit

73,883

74,604

Non-operating income

Interest income

22

39

Dividend income

2,161

2,651

Dividend income of insurance

Share of profit of entities accounted for using equity

412

419

method

Other

2,453

2,394

Total non-operating income

5,231

5,791

Non-operating expenses

Interest expenses

5,645

6,257

Other

1,436

1,420

Total non-operating expenses

7,081

7,678

Ordinary profit

72,033

72,716

Extraordinary income

Gain on sale of non-current assets

249

118

Gain on sale of investment securities

572

8,218

Contribution received for construction

50,606

4,867

Other

582

435

Total extraordinary income

52,010

13,639

Extraordinary losses

Loss on retirement of non-current assets

1,647

1,419

Loss on tax purpose reduction entry of non-current assets

50,584

4,852

Impairment losses

3,483

3,461

Other

480

714

Total extraordinary losses

56,195

10,448

Profit before income taxes

67,848

75,907

Income taxes - current

19,804

21,783

Income taxes - deferred

(353)

2,491

Total income taxes

19,450

24,274

Profit

48,398

51,633

Profit attributable to non-controlling interests

234

302

Profit attributable to owners of parent

48,164

51,330

Shareholders' equity

Share capital

Capital surplus

Retained earnings

Treasury shares

Total shareholders'

equity

Balance at beginning of period

102,135

51,958

258,028

(10,302)

401,820

Changes during period

Dividends of surplus

(8,272)

(8,272)

Profit attributable to owners of

parent

48,164

48,164

Purchase of treasury shares

(2,261)

(2,261)

Disposal of treasury shares

224

2,018

2,242

Cancellation of treasury shares

-

Reversal of revaluation reserve

for land

118

118

Change in ownership interest of parent due to transactions with

non-controlling interests

31

31

Net changes in items other than

shareholders' equity

Total changes during period

-

255

40,010

(243)

40,022

Balance at end of period

102,135

52,214

298,039

(10,545)

441,843

Accumulated other comprehensive income

Non-controlling interests

Total net assets

Valuation difference on available-for-sale securities

Revaluation reserve for land

Foreign currency translation adjustment

Remeasurements of defined benefit plans

Total accumulated other comprehensive

income

Balance at beginning of period

25,624

47,593

144

(428)

72,933

5,820

480,575

Changes during period

Dividends of surplus

(8,272)

Profit attributable to owners of

parent

48,164

Purchase of treasury shares

(2,261)

Disposal of treasury shares

2,242

Cancellation of treasury shares

-

Reversal of revaluation reserve

for land

118

Change in ownership interest of parent due to transactions with

non-controlling interests

31

Net changes in items other than

shareholders' equity

19,748

(118)

36

1,251

20,916

199

21,115

Total changes during period

19,748

(118)

36

1,251

20,916

199

61,138

Balance at end of period

45,372

47,474

180

822

93,850

6,019

541,713

Shareholders' equity

Share capital

Capital surplus

Retained earnings

Treasury shares

Total shareholders'

equity

Balance at beginning of period

102,135

52,214

298,039

(10,545)

441,843

Changes during period

Dividends of surplus

(11,729)

(11,729)

Profit attributable to owners of

parent

51,330

51,330

Purchase of treasury shares

(17,641)

(17,641)

Disposal of treasury shares

(0)

(0)

53

52

Cancellation of treasury shares

(223)

(22,979)

23,203

-

Reversal of revaluation reserve

for land

23

23

Change in ownership interest of parent due to transactions with

non-controlling interests

(9)

(9)

Net changes in items other than

shareholders' equity

Total changes during period

-

(233)

16,643

5,615

22,025

Balance at end of period

102,135

51,980

314,683

(4,930)

463,868

Accumulated other comprehensive income

Non-controlling interests

Total net assets

Valuation difference on available-for-sale securities

Revaluation reserve for land

Foreign currency translation adjustment

Remeasurements of defined benefit plans

Total accumulated other comprehensive

income

Balance at beginning of period

45,372

47,474

180

822

93,850

6,019

541,713

Changes during period

Dividends of surplus

(11,729)

Profit attributable to owners of

parent

51,330

Purchase of treasury shares

(17,641)

Disposal of treasury shares

52

Cancellation of treasury shares

-

Reversal of revaluation reserve

for land

23

Change in ownership interest of parent due to transactions with

non-controlling interests

(9)

Net changes in items other than

shareholders' equity

(871)

(1,487)

56

(909)

(3,211)

226

(2,985)

Total changes during period

(871)

(1,487)

56

(909)

(3,211)

226

19,039

Balance at end of period

44,501

45,986

237

(86)

90,639

6,245

560,753

For the fiscal year

For the fiscal year

ended March 31, 2024

ended March 31, 2025

Cash flows from financing activities

Net increase (decrease) in short-term borrowings

3,920

33,040

Proceeds from issuance of commercial papers

60,000

300,000

Redemption of commercial papers

(60,000)

(300,000)

Proceeds from long-term borrowings

55,109

66,417

Repayments of long-term borrowings

(83,545)

(68,084)

Proceeds from issuance of bonds

-

20,000

Redemption of bonds

(19,920)

(20,060)

Proceeds from sale of treasury shares

2,242

52

Purchase of treasury shares

(2,261)

(17,641)

Dividends paid

(8,256)

(11,694)

Purchase of shares of subsidiaries not resulting in change in scope of consolidation

(10)

(78)

Other, net

(703)

(786)

Net cash provided by (used in) financing activities

(67,918)

321

Effect of exchange rate change on cash and cash equivalents

37

61

Net increase (decrease) in cash and cash equivalents

(37,816)

3,677

Cash and cash equivalents at beginning of period

69,074

31,258

Cash and cash equivalents at end of period

31,258

34,936