Worth reading
54Recurring
Scored from 4 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
—
Displayed only when the document provides numerical figures.Wording
Avoiding a definitive answer
How definitive the wording is.Contents of this document
Summary of Q&AFirst quarter of the fiscal year ending December 20269 items taken from the company’s own explanation
What the company explained in this material
Key points of the Q&AKey questions raised by investors at the briefing and the company's answers
Impact of requests to refrain from travel to China: Impact on the travel, hotel, and bus businesses and expectations for future demand recovery. Impact of the situation in the Middle East: Some cancellations occurred, but the impact in Q1 was limited; fuel prices and airfares are being monitored. Q1 status of each business: Travel and hotel businesses posted higher profits, while the bus business reported lower revenue and profit. New system: The Phase 1 launch timing is expected to be reviewed from the initial plan, and the costs have already been incorporated into the earnings forecasts. Shareholder returns: The company plans to increase dividends, targeting a payout ratio of around 40%.Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
The company prepared its earnings forecasts with an emphasis on achievability, taking into account uncertainty in the external environment. Specific numerical assumptions: Not disclosedNew initiatives
Development of a new system to strengthen support for FITs, participation in travel trade fairs, sales activities targeting local travel agencies, diversification of sales markets, review of the product mix, and consideration of initiatives to expand the base of individual investors and individual shareholdersKey KPIsA metric the company considers important as a management benchmark.
RevPAR: Exceeded the previous year at all hotels. Specific figures and units: Not disclosedSegment results
Travel business: Profit exceeded the previous year. Hotel business: Both revenue and profit increased, and segment profit reached a record high. Bus business: Revenue and profit decreased year on year. Amounts and year-on-year percentages: Not disclosedMedium-term management plan targets
The company targets a dividend payout ratio of around 40%. It plans to pay ¥42 per share for the fiscal year ending December 2026, at least ¥44 for the fiscal year ending December 2027, and at least ¥46 for the fiscal year ending December 2028.Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
Costs expected to arise after the launch of the new system, including depreciation, have already been incorporated into the earnings forecasts. Amount: Not disclosedAnnual Dividend
Fiscal year ending December 2026: ¥42 per share. Interim and year-end breakdown: Not disclosed. Fiscal year ending December 2027: at least ¥44; fiscal year ending December 2028: at least ¥46 planned.Payout ratio
Target of around 40%| Item | Details |
|---|---|
| Document type | Summary of Q&A |
| Fiscal Period Covered | First quarter of the fiscal year ending December 2026 |
| Segment results | Travel business: Profit exceeded the previous year. Hotel business: Both revenue and profit increased, and segment profit reached a record high. Bus business: Revenue and profit decreased year on year. Amounts and year-on-year percentages: Not disclosed |
| Key KPIs | RevPAR: Exceeded the previous year at all hotels. Specific figures and units: Not disclosed |
| Assumptions Underlying the Business Outlook | The company prepared its earnings forecasts with an emphasis on achievability, taking into account uncertainty in the external environment. Specific numerical assumptions: Not disclosed |
| Risk amount incorporated into the outlook | Costs expected to arise after the launch of the new system, including depreciation, have already been incorporated into the earnings forecasts. Amount: Not disclosed |
| Medium-term management plan targets | The company targets a dividend payout ratio of around 40%. It plans to pay ¥42 per share for the fiscal year ending December 2026, at least ¥44 for the fiscal year ending December 2027, and at least ¥46 for the fiscal year ending December 2028. |
| Annual Dividend | Fiscal year ending December 2026: ¥42 per share. Interim and year-end breakdown: Not disclosed. Fiscal year ending December 2027: at least ¥44; fiscal year ending December 2028: at least ¥46 planned. |
| Payout ratio | Target of around 40% |
| Key points of the Q&A | Impact of requests to refrain from travel to China: Impact on the travel, hotel, and bus businesses and expectations for future demand recovery. Impact of the situation in the Middle East: Some cancellations occurred, but the impact in Q1 was limited; fuel prices and airfares are being monitored. Q1 status of each business: Travel and hotel businesses posted higher profits, while the bus business reported lower revenue and profit. New system: The Phase 1 launch timing is expected to be reviewed from the initial plan, and the costs have already been incorporated into the earnings forecasts. Shareholder returns: The company plans to increase dividends, targeting a payout ratio of around 40%. |
| New initiatives | Development of a new system to strengthen support for FITs, participation in travel trade fairs, sales activities targeting local travel agencies, diversification of sales markets, review of the product mix, and consideration of initiatives to expand the base of individual investors and individual shareholders |
Items this document does not state (20)
Net SalesOperating profitOrdinary incomeNet incomeGross Profit MarginOperating profit marginSelling, general and administrative expensesResults for the three months of the current quarterFull-year earnings forecastProgress against full-year forecastSelf-assessment against the planBreakdown of Factors Affecting the ChangeUnit price and quantity metricsNumber of stores and locationsNumber of employeesFinancial targetsAcquisition of treasury sharesCapital expendituresOrders received and order backlogMarket Size / Share
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.Requests to refrain from travel to China have affected hotel sales to FITs, hotel ADRs, and price competition in the bus business. The situation in the Middle East has resulted in some cancellations, and the company is also monitoring the impact on fuel prices and airfares. Meanwhile, demand for group tours from South Korea and Southeast Asia, the shift in hotel sales channels, and transportation services for airline crews and semiconductor-related construction work are supporting results. The review of the new system's launch timing is intended to improve its functionality and level of completion based on travel agencies' opinions and requests.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.