Nagoya Railroad's profit more than doubles as its closed department store stops dragging the books
Nagoya Railroad (Meitetsu) said half-year net profit more than doubled to a record ¥23.5 billion after the February closure and September dissolution of the company that ran its money-losing Meitetsu Department Store main store at Nagoya Station -- the clearest sign yet that for this railway, cutting the store loose did more for the bottom line than any retail turnaround could have.
Nagoya Railroad (名古屋鉄道, known to shoppers as Meitetsu) said consolidated net profit attributable to the parent rose 108.9% to a record ¥23.5 billion in the six months to September 2026, according to its half-year earnings report (決算短信) filed November 11. Group revenue fell 2.6% to ¥327.1 billion, but operating profit rose 27.9% to ¥22.0 billion and ordinary profit 31.8% to ¥25.5 billion -- profit growing far faster than the top line shrank.