Interim report
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Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepan cy between this translated document and the Japanese original, the original shall prevail. July 31, 2026 Consolidated Financial Results for the Three Months Ended June 30, 2026 (Under Japanese GAAP) Company name: Keisei Electric Railway Co., Ltd. Listing: Tokyo Stock Exchange Securities code: 9009 URL: https://www.keisei.co.jp/ Representative: Takao Amano (President and Representative Director) Inquiries: Eiichi Sugimori (Manager of Consolidation Division, Accounting Department) Telephone: +81-47-712-7100 Scheduled date to commence dividend payments: - Preparation of supplementary material on financial results: Yes Holding of financial results briefing: None (Yen amounts are rounded down to millions, unless otherwise noted.) 1. Consolidated financial results for the three months ended June 30, 2026 (from April 1, 2026 to June 30, 2026) (1) Consolidated operating results (cumulative) (Percentages indicate year-on-year changes.) Operating revenue Operating profit Ordinary profit Profit attributable to owners of parent Three months ended Millions of yen % Millions of yen % Millions of yen % Millions of yen % June 30, 2026 86,639 4.0 12,044 19.2 19,965 27.3 15,410 21.2 June 30, 2025 83,334 3.8 10,101 (19.7) 15,679 (11.7) 12,714 (4.5) Note: Comprehensive income For the three months ended June 30, 2026: ¥ 10,910 million [ (34.2) %] For the three months ended June 30, 2025: ¥ 16,579 million [ 22.1 %] Basic earnings per share Diluted earnings per share Three months ended Yen Yen June 30, 2026 31.96 - June 30, 2025 26.37 - (2) Consolidated financial position Total assets Net assets Equity-to-asset ratio As of Millions of yen Millions of yen % June 30, 2026 1,208,586 580,386 46.6 March 31, 2026 1,181,801 575,605 47.2 Reference: Equity As of June 30, 2026: ¥ 562,660 million As of March 31, 2026: ¥ 557,829 million
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2. Cash dividends Annual dividends per share First quarter-end Second quarter-end Third quarter-end Fiscal year-end Total Yen Yen Yen Yen Yen Fiscal year ended - 9.00 - 12.00 21.00 March 31, 2026 Fiscal year ending - March 31, 2027 Fiscal year ending March 31, 2027 (Forecast) 11.00 - 11.00 22.00 Note: Revisions to the forecast of cash dividends most recently announced: None 3. Consolidated financial result forecasts for the fiscal year ending March 31, 2027 (from April 1, 2026 to March 31, 2027) (Percentages indicate year-on-year changes.) Operating revenue Operating profit Ordinary profit Profit attributable to owners of parent Basic earnings per share Millions of yen % Millions of yen % Millions of yen % Millions of yen % Yen Full year 359,800 8.2 31,000 (8.8) 50,500 (13.8) 39,300 (18.2) 81.49 Note: Revisions to the financial result forecast most recently announced: None * Notes (1) Significant changes in the scope of consolidation during the period: None (2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: None (3) Changes in accounting policies, changes in accounting estimates, and restatement (i) Changes in accounting policies due to revisions to accounting standards and other regulations: None (ii) Changes in accounting policies due to other reasons: None (iii) Changes in accounting estimates: None (iv) Restatement: None (4) Number of issued shares (common shares) (i) Total number of issued shares at the end of the period (including treasury shares) As of June 30, 2026 517,233,555 shares As of March 31, 2026 517,233,555 shares (ii) Number of treasury shares at the end of the period As of June 30, 2026 34,994,337 shares As of March 31, 2026 34,994,337 shares (iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year) Three months ended June 30, 2026 482,239,218 shares Three months ended June 30, 2025 482,230,769 shares
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* Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: None * Proper use of earnings forecasts, and other special matters 1. The forward-looking statements contained herein were prepared based on information available as of the date of publication. Actual financial results may differ from what the forecasts suggest. For financial consolidated results forecasts, see “1 (3) Description of Consolidated Performance Forecasts and Other Forward-Looking Statements” on page 4 of this Appendix. 2. Supplementary materials on financial results are appended to these quarterly financial results.
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Appendix Contents 1. Summary of Operating Results ................................................................................................................................... 2 (1) Summary of Operating Results in Period Under Review ................................................................................... 2 (2) Summary of Financial Position in Period Under Review ..................................................................................... 4 (3) Description of Consolidated Performance Forecasts and Other Forward -Looking Statements ............................ 4 2. Quarterly Consolidated Financial Statements and Primary Notes................................................................................. 5 (1) Quarterly Consolidated Balance Sheet ................................................................................................................. 5 (2) Quarterly Consolidated Statements of Income and Comprehensive Income ........................................................ 7 Quarterly Consolidated Statement of Income ....................................................................................................... 7 Quarterly Consolidated Statement of Comprehensive Income ............................................................................. 8 (3) Notes to Quarterly Consolidated Financial Statements ........................................................................................ 9 (Notes on Segment Information, etc) .................................................................................................................... 9 (Notes on Significant Changes in the Amount of Shareholders’ Equity) ............................................................. 9 (Notes on the Going Concern Assumption) .......................................................................................................... 9 (Notes on the Cash Flow Statement) .................................................................................................................. 10 (Changes in method of presentation) .................................................................................................................. 10 3. Supplementary Information to Earnings Report .......................................................................................................... 11 Keisei Electric Railway Co.,Ltd. (9009) - 1 -
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1. Summary of Operating Results (1) Summary of Operating Results in Period Under Review The global economy Japan’s economy was on a moderate recovery path. Consumer confidence and the employment situation showed signs of recovery. However, it is necessary to continue monitoring the rise in raw material costs resulting from factors such as the situation in the Middle East and other developments. Business actions we took We formulated Medium-Term Business Plan D2, which lasts from fiscal 2025 to fiscal 2027. The objective of D2 is to build on our new group organization foundations to improve Narita airport access, enhance profitability and resilience to external change and transform our corporate structure to support achievement of long -term vision. In an effort to strengthen the Group’s organizational structure, mainly to strengthen sales and recruitment capabilities, the Company completed an absorption-type company split and merger transaction with Keisei Bus Co., Ltd. on April 1, 2026 to complete the restructuring of the bus business, and started operations under the new structure. Business results Operating revenue amounted to ¥ 86,639 million (up 4.0% year on year) and operating profit amounted to ¥ 12,044 million (up 19.2% YoY). Ordinary profit amounted to ¥19,965 million (up 27.3% YoY). Profit attributable to owners of parent amounted to ¥15,410 million (up 21.2% YoY). Disclosed below are the segment-specific results: Transportation Railway business To ease congestion at Narita Airport Terminal 2 ,3 Station, we initiated a plan to improve inside and outside the ticket gates in partnership with Narita International Airport Corporation, East Japan Railway Company, and Narita Airport Rapid Railway Company Limited. We also made progress on the renovation of Matsudo Station and other facilities. In addition, under the Railway Station Barrier -Free Fare Scheme, we promoted the installation platform doors at Horikirishobuen Station, Aoto Station, Keisei Takasago Station, and Onigoe Station. Safety actions during the period included upgrades to the traffic control system and substations, and organized engineering work to improve the earthquake resistance of elevated track sections and stations. We also proceeded with major rail engineering works. In addition to our project to construct grade separations along the Oshiage Line in Katsushika-ku, we proceeded with construction work to build a new viaduct structure, among other works, as part of the rebuilding of Arakawa bridge along the main line. To boost ridership capacity to accommodate increased demand with the functional enhancement of Narita Airport, we worked on the construction of the expansion of the factory at Sogo depot. On the operational front, we took the following actions. To capitalize on demand among inbound tourists, we ramped up promotion efforts overseas, such as by exhibiting at overseas travel expos and organizing online ad campaigns. In addition, on April 1, we sold commemorative tickets and ran trains with the commemorative headmark to celebrate the first anniversary of the opening of the Matsudo Line. Furthermore, as part of our efforts to revitalize local communities, we operated “Keisei Dream Trains” featuring trains decorated with drawings by children in elementary school and younger on the theme of “My Dreams, Future Dreams.” Bus business For intercity bus services and transit bus routes , we adjusted bus timetables in line on the trends in demand and revised fares on some routes to increase revenue and provide efficient service . In addition, for intercity bus service “AQUSEA” between Tokyo and Kamogawa, we added new stops, including “Roadside Station Hota Elementary,” with the aim of promoting tourism and improving transportation convenience. Furthermore, with the completion of the restructuring of the bus business, we introduced a newly designed uniform, which is made partly from recycled materials. Taxi business Our taxi subsidiaries steadily capitalized on demand by enhancing driver recruitment and taking other actions. In environmental initiatives, Teito Motor Transportation Co., Ltd. adopted five fuel-cell electric vehicles (FCEV) utilizing subsidies. Keisei Electric Railway Co.,Ltd. (9009) - 2 -
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In addition, Keisei Group signed an official partnership agreement with Major League Baseball and launched various promotions starting this fiscal year, including advertisements featuring Roki Sasaki of the Los Angeles Dodgers and vehicle wraps utilizing our trains, buses, and taxis. The segment results were as follows: Operating revenue amounted to ¥ 53,471 million (up 5.5% year on year) and operating profit amounted to ¥7,121 million (up 30.7% YoY). Distribution Livre Keisei, operated by Keisei Store Co., Ltd., increased the number of stores adopting the AEON Pay code payment service, and “Livrun” same-day delivery service was launched at Your ELM Yachiyodai . Additionally, Mito Keisei Departmentstore Co., Ltd. continued the store renovation to respond to changing market conditions and lifestyles. Furthermore, in collaboration with Keikyu Corporation, Community Keisei Co., Ltd. conducted a tour exploring the Keisei Line with Keikyu Corporation’s trains. Also, we reopened Keisei Travel Chiba Chuo Branch as “Chiba Salon” and worked to expand revenue and attract more customers. We also utilized textile recycling boards made from upcycled uniforms that were no longer needed by the Keisei Group in the interior of the branch to reduce environmental impacts. The segment results were as follows: Operating revenue amounted to ¥ 15,634 million (up 1.3% year on year) and operating profit amounted to ¥410 million (up 28.9% YoY). Real Estate Leasing We acquired Aeon Mall Yachiyo Midorigaoka, a large -scale commercial facility in Yachiyo City, to expand business foundation and help the communities served by our rail lines to thrive . Following the opening of Aeon Mall Tsudanuma South, which is directly connected to the station, we proceeded with the renovation of a large - scale rental facility in the adjacent area as part of efforts to redevelop the surrounding area of Shin -Tsudanuma Station into a new landmark. Sales We sold units in Renai Kashiwa Dear Park, a mid -rise apartment building with deliveries scheduled to begin this fiscal year. Furthermore, to address the growing demand for housing in the Narita area driven by the functional enhancement of Narita Airport, we sold units in mid -rise apartment building Renai Narita Sungrande . We also proceeded with the construction of single -family homes in Hashikadai, Narita City. In addition, we sold units in Premist Tower Funabashi, a high -rise residential building with deliveries scheduled to begin in FY2027, and proceeded with the construction of Sungrande Minami-nagareyama The Park. Additionally, as part of a mixed-use development project in the vicinity of Shin-Kamagaya Station, we constructed commercial facilities and a passageway connecting the north and south sides of the station, and took steps to improve accessibility around the station in preparation for the opening in September. The segment results were as follows: Operating revenue amounted to ¥9,775 million (down 3.4% year on year) and operating profit amounted to ¥3,487 million (up 7.6% YoY). Leisure, Service We worked to capitalize on the increased demand among inbound tourists. In the hotels business, we stepped up sales approaches to travel agencies in Asia to attract group tours . Furthermore, Nokogiriyama Ropeway Co. and other companies held various events and sold commemorative tickets to expand revenue and attract more customers. The segment results were as follows: Operating revenue amounted to ¥ 4,276 million (up 3.0% year on year) and operating profit amounted to ¥296 million (down 8.4% YoY). Construction In this segment, we worked on engineering projects for improving our railways, including the construction of the expansion of the factory at Sogo depot, construction works of commercial facilities in front of Shin -Kamagaya Station, and we were awarded exte rnal orders for the maintenance work for the Hokkaido Shinkansen and the construction of a new business hotel in Tokyo. Keisei Electric Railway Co.,Ltd. (9009) - 3 -
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The segment results were as follows: Operating revenue amounted to ¥8,356 million (down 7.5% year on year) and operating profit amounted to ¥603 million (down 10.9% YoY). (2) Summary of Financial Position in Period Under Review At the end of the period under review: Assets amounted to ¥ 1,208,586 million, up ¥26,785 million (2.3%) year on year. A major factor was an increase in cash and deposits and property, plant and equipment, despite a decrease in notes and accounts receivable - trade, and contract assets. Liabilities amounted to ¥628,199 million, up ¥22,004 million (3.6%) year on year. A major factor was an increase in interest-bearing debt, despite a decrease in notes and accounts payable - trade. Net assets amounted to ¥ 580,386 million, up ¥4,780 million (0.8%) year on year. A major factor was an increase in retained earnings with the recording of profit attributable to owners of parent. (3) Description of Consolidated Performance Forecasts and Other Forward -Looking Statements In view of performance during the period under review, performance forecasts for the year ending March 31, 202 7 remain as announced on May 8, 2026. We will continue monitoring trends and issue a public notice without delay if a revision to the forecasts becomes necessary. Keisei Electric Railway Co.,Ltd. (9009) - 4 -
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2. Quarterly Consolidated Financial Statements and Primary Notes (1) Quarterly Consolidated Balance Sheet (Millions of yen) As of March 31, 2026 As of June 30, 2026 Assets Current assets Cash and deposits 34,386 42,956 Notes and accounts receivable - trade, and contract assets 37,836 33,521 Land and buildings for sale in lots 12,809 13,507 Merchandise 2,348 2,341 Work in process 202 413 Raw materials and supplies 4,893 5,113 Other 18,420 19,665 Allowance for doubtful accounts (20) (23) Total current assets 110,876 117,496 Non-current assets Property, plant and equipment Buildings and structures, net 354,663 359,761 Machinery, equipment and vehicles, net 34,543 33,004 Land 235,242 252,875 Leased assets, net 32,086 31,117 Construction in progress 96,669 96,484 Other, net 4,907 4,668 Total property, plant and equipment 758,112 777,911 Intangible assets Leased assets 979 933 Other 11,261 10,828 Total intangible assets 12,240 11,761 Investments and other assets Investment securities 281,209 279,504 Long-term loans receivable 243 241 Retirement benefit asset 167 166 Deferred tax assets 14,167 17,043 Other 4,530 4,222 Allowance for doubtful accounts (163) (162) Total investments and other assets 300,154 301,016 Total non-current assets 1,070,507 1,090,689 Deferred assets 417 400 Total assets 1,181,801 1,208,586 Keisei Electric Railway Co.,Ltd. (9009) - 5 -
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(Millions of yen) As of March 31, 2026 As of June 30, 2026 Liabilities Current liabilities Notes and accounts payable - trade 30,069 16,688 Short-term borrowings 72,251 67,593 Commercial papers 23,000 32,000 Current portion of bonds payable - 10,000 Lease liabilities 5,526 5,420 Income taxes payable 6,587 4,361 Provision for bonuses 4,827 4,906 Other 115,187 107,108 Total current liabilities 257,449 248,078 Non-current liabilities Bonds payable 130,000 120,000 Long-term borrowings 115,229 155,944 Long-term accounts payable to Japan railway construction, transport and technology agency 27,700 27,700 Lease liabilities 23,408 22,445 Deferred tax liabilities 2,037 2,145 Retirement benefit liability 36,203 36,249 Other 14,166 15,635 Total non-current liabilities 348,746 380,121 Total liabilities 606,195 628,199 Net assets Shareholders' equity Share capital 36,803 36,803 Capital surplus 35,038 35,325 Retained earnings 518,404 527,980 Treasury shares (52,407) (52,407) Total shareholders' equity 537,839 547,702 Accumulated other comprehensive income Valuation difference on available-for-sale securities 14,155 9,215 Deferred gains or losses on hedges 2,934 2,887 Remeasurements of defined benefit plans 2,899 2,854 Total accumulated other comprehensive income 19,989 14,957 Non-controlling interests 17,775 17,725 Total net assets 575,605 580,386 Total liabilities and net assets 1,181,801 1,208,586 Keisei Electric Railway Co.,Ltd. (9009) - 6 -
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(2) Quarterly Consolidated Statements of Income and Comprehensive Income Quarterly Consolidated Statement of Income For the Three-Month Period (Millions of yen) For the three months ended June 30, 2025 For the three months ended June 30, 2026 Operating revenue 83,334 86,639 Operating expenses Operating expenses and cost of sales of transportation 59,662 60,946 Selling, general and administrative expenses 13,570 13,648 Total operating expenses 73,233 74,595 Operating profit 10,101 12,044 Non-operating income Interest income 95 98 Dividend income 347 455 Share of profit of entities accounted for using equity method 5,589 8,513 Miscellaneous income 708 678 Total non-operating income 6,741 9,746 Non-operating expenses Interest expenses 748 1,062 Commission for syndicated loans 153 453 Miscellaneous expenses 260 309 Total non-operating expenses 1,162 1,825 Ordinary profit 15,679 19,965 Extraordinary income Gain on sale of investment securities - 163 Contribution received for construction 141 134 Gain on sale of non-current assets 170 2 Other 16 0 Total extraordinary income 328 300 Extraordinary losses Loss on retirement of non-current assets 34 106 Loss on tax purpose reduction entry of non-current assets 76 86 Other 27 3 Total extraordinary losses 137 195 Profit before income taxes 15,871 20,070 Income taxes - current 3,428 4,555 Income taxes - deferred (829) (427) Total income taxes 2,598 4,128 Profit 13,272 15,942 Profit attributable to non-controlling interests 558 532 Profit attributable to owners of parent 12,714 15,410 Keisei Electric Railway Co.,Ltd. (9009) - 7 -
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Quarterly Consolidated Statement of Comprehensive Income For the Three-Month Period (Millions of yen) For the three months ended June 30, 2025 For the three months ended June 30, 2026 Profit 13,272 15,942 Other comprehensive income Valuation difference on available-for-sale securities 2,121 (5,085) Remeasurements of defined benefit plans, net of tax (5) (16) Share of other comprehensive income of entities accounted for using equity method 1,190 69 Total other comprehensive income 3,306 (5,032) Comprehensive income 16,579 10,910 Comprehensive income attributable to Comprehensive income attributable to owners of parent 16,021 10,378 Comprehensive income attributable to non-controlling interests 558 531 Keisei Electric Railway Co.,Ltd. (9009) - 8 -
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(3) Notes to Quarterly Consolidated Financial Statements (Notes on Segment Information, etc.) I Comparative period: Three months ended June 30, 2025 Monetary Amounts for Segment-Specific Operating Revenue and Profit (Millions of yen) Reportable segments Total Reconciliation *1 Amount in Quarterly Consolidated Income Statement *2 Transportation Distribution Real Estate Leisure, Service Construction Other Operating revenue (1) Operating revenue from sales to external customers 50,634 14,911 8,285 3,158 5,225 1,118 83,334 – 83,334 (2) Operating revenue or transfer balance from inter-segment sales 38 518 1,835 993 3,805 1,200 8,391 (8,391) – Total 50,672 15,430 10,121 4,151 9,031 2,318 91,725 (8,391) 83,334 Segment profit 5,448 318 3,242 323 677 76 10,087 13 10,101 (Notes) 1 Reconciliation of segment profit covers inter-segment eliminations and inter-segment goodwill amortization. 2 Segment profit is reconciled to the operating profit reported in the quarterly consolidated income statement. II Period Under Review: Three months ended June 30, 2026 1 Monetary Amounts for Segment-Specific Operating Revenue and Profit (Millions of yen) Reportable segments Total Reconciliation *1 Amount in Quarterly Consolidated Income Statement *2 Transportation Distribution Real Estate Leisure, Service Construction Other Operating revenue (1) Operating revenue from sales to external customers 53,449 14,942 7,927 3,321 5,667 1,330 86,639 – 86,639 (2) Operating revenue or transfer balance from inter-segment sales 21 691 1,848 954 2,688 1,469 7,674 (7,674) – Total 53,471 15,634 9,775 4,276 8,356 2,799 94,313 (7,674) 86,639 Segment profit 7,121 410 3,487 296 603 111 12,031 12 12,044 (Notes) 1 Reconciliation of segment profit covers inter-segment eliminations and inter-segment goodwill amortization. 2 Segment profit is reconciled to the operating profit reported in the quarterly consolidated income statement. 2 Matters concerning changes in reporting segments, etc. In order to consolidate functions in the lifestyle service business field and strengthen profitability and competitiveness, Community Keisei Co., Ltd. conducted an absorption-type merger with Keisei Travel Service Co., Ltd., which had been included under the leisure, service segment, with all businesses of the two companies now coming under the distribution segment. Please note that the segment information for the three months ended June 30, 2025 has been prepared based on the classification after the merger. (Notes on Significant Changes in the Amount of Shareholders’ Equity) No notes. (Notes on the Going Concern Assumption) No notes. Keisei Electric Railway Co.,Ltd. (9009) - 9 -
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(Notes on the Cash Flow Statement) We have not prepared a quarterly consolidated cash flow statement for the period under review. Depreciation in the period under review was as follows (“depreciation” here includes amortization of intangible assets other than goodwill). Comparative period (three months ended June 30, 2025) Period under review (three months ended June 30, 2026) Depreciation ¥8,157 million ¥8,783 million (Changes in method of presentation) (Quarterly Consolidated Statement of Income) Commission for syndicated loans, which had been included in miscellaneous expenses under non-operating expenses in the consolidated statement of income for the three months ended June 30, 2025, is presented separately starting from the period under review since it exceeded 20 percent of total non-operating expenses. To reflect this change in the method of presentation, the consolidated financial statements for the three months ended June 30, 2025 have been reclassified. As a result, the ¥414 million reported as miscellaneous expenses under non-operating expenses in the consolidated statement of income for the three months ended June 30, 2025 has been reclassified as ¥153 million of commission for syndicated loans and ¥260 million of miscellaneous expenses. Keisei Electric Railway Co.,Ltd. (9009) - 10 -
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3. Supplementary Information to Earnings Report ▮Consolidated income statement ・Operating revenue and income grew thanks to an increase in To/From Narita Airport transportation in the transportation segment due to an increase in demand of it by inbound visitors. ・Increase in share of profit of entities accounted for using equity method. Operating revenue 50,672 53,471 2,798 5.5 Operating profit 5,448 7,121 1,672 30.7 Operating revenue 15,430 15,634 203 1.3 Operating profit 318 410 92 28.9 Operating revenue 10,121 9,775 (345) (3.4) Operating profit 3,242 3,487 245 7.6 Operating revenue 4,151 4,276 124 3.0 Operating profit 323 296 (27) (8.4) Operating revenue 9,031 8,356 (674) (7.5) Operating profit 677 603 (73) (10.9) Operating revenue 2,318 2,799 481 20.8 Operating profit 76 111 35 45.9 Operating revenue 91,725 94,313 2,588 2.8 Operating profit 10,087 12,031 1,944 19.3 Operating revenue (8,391) (7,674) 716 - Operating profit 13 12 (1) (7.7) Operating revenue 83,334 86,639 3,304 4.0 Operating profit 10,101 12,044 1,943 19.2 6,741 9,746 3,005 44.6 1,162 1,825 662 57.0 15,679 19,965 4,285 27.3 328 300 (28) (8.6) 137 195 57 42.0 15,871 20,070 4,199 26.5 Current 3,428 4,555 1,127 32.9 Deferred (829) (427) 402 - Total 2,598 4,128 1,529 58.9 13,272 15,942 2,670 20.1 558 532 (25) (4.6) 12,714 15,410 2,695 21.2 Non-operating income 5,589 8,513 Subtotal Million yen, % Q1 2025 Result Transportation Profit attributable to non-controlling interests Distribution Real Estate Leisure, Service Reconciliation Total Non-operating income Non-operating expenses Ordinary profit Q1 2026 Result Change % change Construction Other Extraordinary income Extraordinary losses Profit before income taxes Profit Income taxes Share of profit of entities accounted for using equity method Profit attributable to owners of parent * Due to the absorption-type merger, We are transferring some of our leisure and service sector business to the distribution sector, so for the previous year's result, we have listed them under the classifications after the transfer. Keisei Electric Railway Co.,Ltd. (9009) - 11 -
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▮FY2026 Results by Segment ・Transportation Operating revenue 26,607 27,777 1,170 4.4 Operating profit 4,130 5,857 1,726 41.8 Operating revenue 15,294 16,100 805 5.3 Operating profit 1,168 886 (281) (24.1) Operating revenue 8,770 9,593 822 9.4 Operating profit 149 376 227 152.2 Operating revenue 50,672 53,471 2,798 5.5 Operating profit 5,448 7,121 1,672 30.7 ・Distribution Operating revenue 11,393 11,587 193 1.7 Operating profit 201 243 42 21.0 Operating revenue 2,578 2,505 (72) (2.8) Operating profit (78) (65) 12 - Operating revenue 1,457 1,540 83 5.7 Operating profit 195 232 37 19.1 Operating revenue 15,430 15,634 203 1.3 Operating profit 318 410 92 28.9 ・Real Estate Operating revenue 7,348 7,812 463 6.3 Operating profit 2,978 3,386 408 13.7 Operating revenue 1,135 10 (1,125) (99.1) Operating profit 126 (45) (171) - Operating revenue 1,636 1,952 316 19.3 Operating profit 137 146 9 6.6 Operating revenue 10,121 9,775 (345) (3.4) Operating profit 3,242 3,487 245 7.6 Management Real Estate Q1 2026 Result Change % change Leasing Sales Q1 2025 Result Store Department store Other Distribution Million yen, % Million yen, % Q1 2025 Result Q1 2026 Result Change % change Railway Bus Taxi Transportation Million yen, % Q1 2025 Result Q1 2026 Result Change % change Keisei Electric Railway Co.,Ltd. (9009) - 12 -
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▮Transportation Performance [non-consolidated] Commuters 57,762 59,308 1,546 2.7 Non-commuters 41,911 43,360 1,449 3.5 Total 99,673 102,668 2,995 3.0 To/from Narita Airport 6,975 7,168 193 2.8 Charged limited Express 2,344 2,701 357 15.2 Commuters 6,708 6,880 171 2.6 Non-commuters 15,589 16,335 745 4.8 Total 22,298 23,215 917 4.1 To/from Narita Airport 7,763 8,247 483 6.2 Charged limited Express 2,398 2,721 323 13.5 Thousand people, Million yen, % Q1 2025 Result Q1 2026 Result Revenue from passengers Change % change Number of passengers Keisei Electric Railway Co.,Ltd. (9009) - 13 -