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East Japan Railway reports higher annual profits on revenue growth

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East Japan Railway reports higher annual profits on revenue growth

East Japan Railway Co.'s net income for the fiscal year ended March 31 grew year over year, supported by higher operating revenues over the 12-month period.

The Japanese passenger railway company recorded net income for full year 2018 of ¥288.96 billion, or ¥749.20 per share, up from ¥277.93 billion, or ¥713.96 per share, in the previous fiscal year.

Its EPS for fiscal 2018 fell short of the S&P Capital IQ GAAP consensus estimate of ¥753.19 per share.

Operating revenues rose by 2.4% to ¥2.950 trillion, from ¥2.881 trillion in the prior fiscal year.

Operating income increased by 3.2% to ¥481.30 billion from ¥466.31 billion.

The company declared year-end dividends of ¥70 per share, amounting to total annual dividends of ¥140 per share, up from fiscal 2017's ¥130. It forecast total annual dividends of ¥150 per share for fiscal 2019.

As of June 8, US$1 was equivalent to ¥109.47.