Tokyu Publishes Transcript of FY2026 Second-Quarter Earnings Conference Call

• Tokyu management presented fiscal 2026 second-quarter results at a November 10, 2026, earnings conference call.
• Full-year operating profit guidance fell JPY 10 billion to JPY 100 billion; ordinary profit was lowered to JPY 102.4 billion.
• Net profit guidance remained JPY 90 billion, supported by lower corporate taxes associated with business restructuring.
• Higher property leasing expenses and electricity procurement costs drove the downgrade; management also cited inflation-related pressure on supermarket customers.
• First-half operating profit declined 7.8% to JPY 54.2 billion; net profit rose 4% to JPY 58.4 billion.

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