Kyushu Railway : Notice Regarding Difference Between Full-Year Performance Forecasts and Results

(Translation)

May 12, 2021

To whom it may concern:

Company Name: Kyushu Railway Company

Name of Representative: Toshihiko Aoyagi, President and CEO

Securities Code: 9142

Tokyo Stock Exchange (First Section) and Fukuoka Stock Exchange

Inquiries: Public Relations Department

TEL [phone]

Notice Regarding Difference Between Full-Year Performance Forecasts and Results

Kyushu Railway Company hereby provides notice regarding the difference between its full-year performance forecasts for the fiscal year ended March 31, 2021 (April 1, 2020, to March 31, 2021), which were announced on February 9, 2021, and its results for the fiscal year, which were announced today.

1. Difference between full-year performance forecasts and results

1. Difference between consolidated performance forecasts for the fiscal year ended March 31, 2021 (April 1, 2020, to March 31, 2021), and results for the fiscal year

					Net income		Net income
		Operating	Operating	Ordinary	attributable to
			per share -
		revenues	income	income	owners of the
			basic
					parent
Previous		Millions of yen	Millions of yen	Millions of yen	Millions of yen		Yen
forecast (A)	291,700	(32,300)	(31,400)	(28,400)	(180.76)
Results (B)	293,914	(22,873)	(19,323)	(18,984)	(120.83)
Change		2,214	9,426	12,076	9,415
(B-A)
% change		0.8	－	－	－
(Reference)
Results	in
previous year
(Fiscal year	432,644	49,406	50,613	31,495	198.16
ended March
31, 2020)

1. Difference between non-consolidated performance forecasts for the fiscal year ended March 31, 2021 (April 1, 2020, to March 31, 2021), and results for the fiscal year

		Operating	Operating	Ordinary			Net income
		Net income		per share -
		revenues	income	income
				basic
		Millions of yen	Millions of yen	Millions of	Millions of		Yen
Previous		yen	yen
	145,000	(24,500)	(72.56)
forecast (A)	(15,800)	(11,400)
Results (B)	144,727	(20,591)	(10,853)	(11,145)	(70.94)
Change		(272)	3,908	4,946	254
(B-A)
% change	(0.2)	－	－	－
(Reference)
Results	in
previous year
(Fiscal year	214,892	34,398	40,584	28,698	180.56
ended March
31, 2020)

2. Reasons for Difference

Operating revenue was basically in line with performance forecasts. However, operating expenses declined as a result of the progress of cost reductions, centered on the railway business, and other factors. Also, non-operating income increased due to subsidies for employment adjustment, etc. As a result of these and other factors, results exceeded performance forecasts at each level of profit.