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Tokyo MetroTokyo Metro Co.,Ltd.9023東証プライム陸運業FY ending Mar 2026, consolidated, J-GAAP

Tokyo Metro FY ending Mar 2026 results

About 91% of Tokyo Metro's sales come from Transportation, with Consumer and corporate services and Real estate making up much of the rest.

Out of every ¥100 of sales, about ¥21 is left as operating profit.

Revenue changed +3.6% from the prior year, operating profit +3.0%.

Revenue and profit pattern

Revenue and profit upSimilar growth

Revenue +3.6% · profit +3.0%, calculated from disclosed figures.

Operating leverage: 0.85× (profit growth ÷ revenue growth)

What changed from last year

FY ending Mar 2025 → FY ending Mar 2026

Revenue
+3.6%¥407.8B → ¥422.4B
Operating income
+3.0%¥86.9B → ¥89.6B
Net income attributable to owners
+9.8%¥53.7B → ¥59B
Operating cash flow
+8.3%¥123.5B → ¥133.8B
Free cash flow
+455.2%¥7.56B → ¥42B

Results at a glance

  • More people rode the subway, and fares pushed revenue up +3.6% to ¥422.4B in the FY ending Mar 2026.
  • Costs climbed almost as fast, so operating income only rose +3.0%, to ¥89.6B.
  • Net income jumped +9.8% to ¥59B, helped by a one-off gain rather than the core business.
  • Free cash flow went from ¥7.56B to ¥42B.

What drove the change

  • Passenger fare revenue kept growing, with both commuter-pass and regular riders up.
  • Spending on outside services and staff rose, eating most of the extra revenue.
  • The company booked a gain from changing its retirement benefit plan, and it spent less on new equipment and facilities than the year before.

Things to watch

  • Fewer commuters, whether from a shrinking Tokyo population or remote work, would cut fare revenue.
  • Trains run on a lot of electricity, so long-lasting rises in power, material and labor costs would hit profits.
  • A major earthquake, flood or accident that stops trains could hurt results.

Annual securities report (management analysis) / 経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析 · Annual securities report (business risks) / 事業等のリスク

Where the money goes

FY ending Mar 2025 → FY ending Mar 2026

※ Cost of revenue is not disclosed; expenses are combined

Where ¥100 of sales goes

For every ¥100 Tokyo Metro sells, how much goes where, and how much is kept.

FY ending Mar 2026
Operating costs
¥79
Operating profit
¥21
Net profit kept
¥14

Annual margin trends

Operating margin21.2%
FY ending Mar 2021: -13.6%-13.6%FY ending Mar 2022: -3.9%-3.9%FY ending Mar 2023: 8.0%8.0%FY ending Mar 2024: 19.6%19.6%FY ending Mar 2025: 21.3%21.3%FY ending Mar 2026: 21.2%21.2%FY21FY22FY23FY24FY25FY26
Net margin14.0%
FY ending Mar 2021: -17.9%-17.9%FY ending Mar 2022: -4.4%-4.4%FY ending Mar 2023: 8.0%8.0%FY ending Mar 2024: 11.9%11.9%FY ending Mar 2025: 13.2%13.2%FY ending Mar 2026: 14.0%14.0%FY21FY22FY23FY24FY25FY26

Aligned fiscal years compare the shares of revenue remaining as gross, core, and net profit. Missing years are left unconnected.

Which businesses earn the money

Revenue by business segment, and the profit each one keeps.

FY ending Mar 2026

Profit by segment

※ Segment figures include inter-segment sales and do not sum to the company total

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    訂正有価証券報告書－第22期(2025/04/01－2026/03/31)

    ID S100YZAA2026-08-28Open

  • EDINET (FSA Japan)

    有価証券報告書－第21期(2024/04/01－2025/03/31)

    ID S100W3LV2025-06-24Open

  • EDINET (FSA Japan)

    有価証券報告書－第20期(2023/04/01－2024/03/31)

    ID S100TPK62024-06-21Open

  • EDINET (FSA Japan)

    有価証券報告書－第19期(2022/04/01－2023/03/31)

    ID S100R82O2023-06-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第18期(令和3年4月1日－令和4年3月31日)

    ID S100OM2B2022-06-30Open

  • EDINET (FSA Japan)

    有価証券報告書－第17期(令和2年4月1日－令和3年3月31日)

    ID S100LVEX2021-06-30Open

Extracted from XBRL: 48 / Derived from other figures: 1

Spotted an error? Report it (corrections keep the original record)

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