Nagoya Railroad

Retail & mixed-use property · 9048

The Japan read

From the company's own filing for Q1 (Apr–Jun 2026) · reported 2026-08-10 · the filing

StoresMeitetsu Department Store closed its main store at Nagoya Station on 28 February 2026; the retail business's sales fell 20.1% to ¥16.5bn, but it turned a ¥26mn profit from a ¥408mn loss.

Other callouts in the filing

SegmentReal-estate revenue fell 33.2% to ¥20.8bn and profit 56.3% to ¥1.9bn on fewer condominium handovers; group hotels' sales slipped 3.0% to ¥6.2bn.
One-offNet income nearly doubled even as operating profit fell, on more equity-method income and smaller special losses, including ¥1.27bn less set aside for store closures.
OutlookFull-year guidance is unchanged: revenue of ¥734.0bn (+6.1%), operating profit of ¥45.0bn (+24.4%) and net income of ¥39.0bn (+69.9%).
BasisSegments were reorganised from April 2026 and year-ago figures restated; the department store now sits in the retail business inside leisure and lifestyle services.

floortok's reading of the filing, in our own words. Figures are the company's own; where a growth rate is our arithmetic, it says so.

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floortok holds 2 reported periods for this company.

Q1 (Apr–Jun 2026) · Year-to-Date

Reported 2026-08-10

Operating revenue¥156.9bn−6.9%

Operating profit¥8.9bn−4.2%

Net income¥12.6bn+86.7%

Nagoya Railroad (Meitetsu) runs the Meitetsu railway, buses and hotels around Nagoya, and its Meitetsu Department Store closed its Nagoya Station main store on 28 February 2026. In April–June 2026 revenue fell 6.9% to ¥156.9bn on fewer condominium handovers and the loss of the department store's sales, and operating profit slipped 4.2% to ¥8.9bn, but net income rose 86.7% to ¥12.6bn on higher equity-method income and smaller special losses; guidance was kept.

Full year to March 2026 · Year-to-Date

Reported 2026-05-15

Operating revenue¥691.6bn+0.1%

Operating profit¥36.2bn−14.0%

Net income¥23.0bn−39.2%

Meitetsu's year to March 2026 held revenue at ¥691.6bn (+0.1%), while operating profit fell 14.0% to ¥36.2bn and net income 39.2% to ¥23.0bn; the department store's main store closed at the end of February.

StoresThe main store's closing sale lifted retail (流通) revenue 0.8% to ¥69.6bn, though the segment's operating loss widened by ¥0.61bn to ¥1.90bn.