JR-West raises FY2026.3 forecasts, dividends on strong city development, expo demand

West Japan Railway Company (JR-West) has revised its full-year results forecasts for the fiscal year ending March 31, 2026, citing favorable trends from city development projects and demand related to the Osaka-Kansai Expo. Consolidated operating revenues are now projected to be 1,836,000 million yen, up from 1,820,000 million yen, while recurring income is revised to 179,000 million yen from 174,000 million yen. Income attributable to owners of parent is also increased to 118,500 million yen from 115,000 million yen, with a corresponding rise in EPS to 258.12 yen.

Concurrently, JR-West's board of directors approved an interim dividend of 45.00 yen per share for the fiscal year ending March 31, 2026, an increase from the previous forecast of 43.00 yen. The annual dividend forecast has been raised from 86.00 yen to 90.50 yen per share, reflecting the revised earnings forecast and the impact of treasury stock retirement completed on September 30, 2025.

The upward revisions are primarily attributed to increased railway usage and strong performance in the retail and real estate segments. Mobility, retail, and real estate are all forecast to see increased operating revenues and income. The company maintains a payout ratio of at least 35% as outlined in its "JR-West Group Medium-Term Management Plan 2025 Update."