Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated
document and the Japanese original, the original shall prevail.

Consolidated Financial Results
for the Three Months Ended June 30, 2024
[Japanese GAAP]
August 5, 2024
Company name: TOBU RAILWAY CO.,LTD.
Stock exchange listing: Tokyo
Code number: 9001
URL: https://www.tobu.co.jp/
Representative: Yutaka Tsuzuki
President Director
Contact:
Kentaro Aida
Finance and Acocounting Department Manager
Phone: +81-3-5962-2183
Scheduled date of commencing dividend payments:
Availability of supplementary briefing material on financial results: Yes
Schedule of financial results briefing session:
None(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Three Months Ended June 30, 2024 (April 1, 2024 to June 30, 2024)(1) Consolidated Operating Results(Percentages indicate year-on-year changes.)
Profit attributable toOperating revenue
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%Three months ended
June 30, 2024
149,914(4.7)
21,396(9.6)
21,600(8.5)
14,891(8.6)
June 30, 2023
157,375
13.2
23,65865.1
23,59564.3
16,28980.8(Note) Comprehensive income:Three months ended June 30, 2024: ¥ 17,319 million [(27.0) %]Three months ended June 30, 2023: ¥ 23,722 million [ 116.0%]
Basic earnings
per share
Three months ended
June 30, 2024
June 30, 2023

Diluted earnings
per share
Yen

Yen

72.04
78.80

-(2) Consolidated Financial Position
Total assets
As ofJune 30, 2024
March 31, 2024
(Reference) Equity:

Millions of yen

Net assets

Equity ratio

Millions of yen%

1,690,664
552,780
1,704,063
541,713
As of June 30, 2024:¥ 546,774 million
As of March 31, 2024:¥ 535,693 million

32.3
31.4

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2024

-25.00

-

30.00

55.00

Fiscal year ending March 31, 2025

25.00

-

25.00

50.00

Fiscal year ending March 31, 2025
(Forecast)(Note) Revision to the forecast for dividends announced most recently:

Year-end

Total

None

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2025(April 1, 2024 to March 31, 2025)(Percentages indicate year-on-year changes.)
Profit attributable
Basic earnings
Operating revenue Operating profit
Ordinary profit
to owners of parent
per share
Millions ofyen%Millions ofyen%Millions ofyen%

Full year
639,000
0.5 62,000(16.1) 58,000(19.5)(Note) Revision to the financial results forecast announced most recently:
None* Notes:(1) Significant changes in the scope of consolidation during the period:

Millions ofyen%

Yen

43,000(10.7)

208.01

None(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements:(3) Changes in accounting policies, changes in accounting estimates, and restatement
1) Changes in accounting policies due to revisions to accounting standards and other regulations:
2) Changes in accounting policies other than 1) above:3) Changes in accounting estimates:
4) Retrospective restatement:

None

Yes
None
None
None

(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
June 30, 2024:
209,815,421 shares
March 31, 2024:
209,815,421 shares
2) Number of treasury shares at the end of the period:
June 30, 2024:
March 31, 2024:
3) Average number of shares outstanding during the period:
Three months ended June 30, 2024:
Three months ended June 30, 2023:

3,096,952 shares
3,101,161 shares

206,715,258 shares
206,715,754 shares* Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified publicaccountants or an audit firm: None

Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets(Millions of yen)
As of March 31, 2024
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, andcontract assets
Land and buildings for sale in lots
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Land
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

As of June 30, 2024

31,44831,69075,13966,272

24,23838,292(165)
168,953

25,80035,668(129)
159,301

536,825
636,462
193,980
1,367,269
18,606534,404
637,709
188,699
1,360,813
18,210101,459
48,607(832)
149,234
1,535,110
1,704,063

104,486
48,683(831)
152,338
1,531,362
1,690,664

(Millions of yen)
As of March 31, 2024
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Current portion of long-term borrowings
Commercial papers
Current portion of bonds payable
Provisions
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Provisions
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

As of June 30, 2024

48,65340,282
65,20820,0607,409
204,708386,322

37,81036,482
66,19720,00010,0609,017
178,019
357,587

138,100
484,091
3,385
42,720107,730
776,027
1,162,350

148,100
476,959
3,038
43,084
109,114780,296
1,137,884

102,135
52,214
298,039(10,545)441,843

102,135
52,240306,708(10,530)
450,554

45,37247,71347,474180
822
93,8506,019
541,713
1,704,063

47,474219
812
96,2196,005
552,780
1,690,664

Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the three months)(Millions of yen)
For the three months
ended June 30, 2023
Operating revenue
Operating expenses
Operating expenses and cost of sales of transportation
Selling, general and administrative expenses
Total operating expenses
Operating profit
Non-operating income
Dividend income
Dividend income of insurance
Other
Total non-operating income
Non-operating expenses
Interest expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Contribution received for construction
Subsidy income
Other
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Loss on tax purpose reduction entry of non-currentassets
Loss on valuation of investment securities
Other
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

For the three months
ended June 30, 2024

157,375

149,914103,595
30,121
133,716
23,65897,69430,824
128,518
21,396

898
407
468
1,774

1,108
412
508
2,029

1,429
407
1,837
23,595

1,455
369
1,825
21,600

39
21
167
35
264

5
185
127
32
350

46

54

20

182

334
116
517
23,342
6,565
441
7,007
16,33545
16,289385
33
655
21,295
6,272
72
6,345
14,94958
14,891

Quarterly Consolidated Statements of Comprehensive Income (For the three months)(Millions of yen)
For the three months
ended June 30, 2023
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable to non-controllinginterests

For the three months
ended June 30, 2024

16,335

14,949

7,433
5(50)

2,340
38(9)

-(0)

7,387
23,722

2,369
17,31923,672

17,2615058