Tokyo Metro Logs Net Profit Rise in 1st Report since IPO

Tokyo, Nov. 7 (Jiji Press)--Tokyo Metro Co. said Thursday that it logged a year-on-year group net profit rise of 26.6 pct in April-September, in its first earnings report since its initial public offering last month.

The subway operator's net profit came to 30.6 billion yen in the first half of fiscal 2024, reflecting higher revenue from its passenger transport service backed by an economic recovery after the COVID-19 pandemic and strong demand from visitors to Japan.

The company's real estate, retail and advertising businesses also performed well.

Its six-month operating profit jumped 23.9 pct to 50.06 billion yen, on operating revenue of 202.3 billion yen, up 5.5 pct.

Tokyo Metro went public on the Tokyo Stock Exchange's top-tier Prime section on Oct. 23.

[Copyright The Jiji Press, Ltd.]