Materials for the Financial Results Briefing for the Fiscal Year Ending March 2026 | TOKYU CORPORATION (9005) timely disclosure

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Contents of this document

Financial results presentationFY2025 (fiscal year ending March 2026)12 items taken from the company’s own explanation

Financial Results Figures (The key points of this material are explained below)

Net Sales¥10,861 100 million+3.0%

Operating profit¥1,031 100 million-0.3%

Ordinary income¥1,161 100 million+7.8%

Net income¥870 100 million+9.3%

Full-year earnings forecast

Operating revenue

¥11,400 100 million

Operating profit

¥1,100 100 million

Business profit

¥1,115 100 million

Ordinary income

¥1,114 100 million

Profit attributable to owners of the parent

¥900 100 million

What the company explained in this material

Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.

Operating profit versus previous year

Hotels and Resorts+¥3.0 billion

Lifestyle Services+¥2.5 billion

Transportation-¥1.6 billion

Real Estate-¥4.8 billion

Corporate and eliminations+¥500 million

Operating profit versus February forecast

Hotels and Resorts-¥0.2 billion

Lifestyle Services-¥0.5 billion

Real Estate-¥1.0 billion

Transportation-¥1.3 billion

Corporate and eliminations+¥0.3 billion

Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.

Passengers carried

1,143 million people

yoy+2.4%

Fare revenue

¥156,869 million

yoy+2.6%

Condominium units delivered

345 units

yoy+103 units

Hotel occupancy rate

80.6 %

yoy+1.0 percentage points

Hotel ADR

¥27,887

yoy+¥1,206

Increase in personnel expenses

70 Approximately ¥100 million

yoyYear on year

New initiatives

Opening Japan's first Bacha Coffee flagship store in Ginza
Contribution of 2 properties to Tokyu REIT
Formation and utilization of the private fund TR1 Realty
Development and operation of renewable energy generation and storage facilities
Formulation and disclosure of the next management plan within FY2026

Key KPIsA metric the company considers important as a management benchmark.

EPS¥152.25
Year on year against the same period last year+¥17.44
ROE10 %
Year on year against the same period last year+0.2 percentage points
ROA3.7 %
Year on year against the same period last year-0.1 percentage points
Tokyu EBITDA¥2,279 100 million
Year on year against the same period last year+6.4%
EBITDA¥1,917 100 million
Year on year against the same period last year+0.9%
Passengers carried1,117 million people
Year on year against the same period last year+3.1%
ADR¥26,681
Year on year against the same period last year+¥2,761
RevPAR¥21,223

Unit price and quantity metricsThese figures show sales broken down by price and volume.

Transportation

Passengers carried

1,117 million people

yoy+3.1%

Hotels

ADR

¥26,681

yoy+¥2,761

Segment results

Transportation Business

Operating profit273

Year on year against the same period last yearProfit decrease

Real Estate Business

Operating revenue2,629

Operating profit435

Year on year against the same period last yearProfit decrease

Lifestyle Services

Operating revenue5,332

Operating profit218

Year on year against the same period last yearProfit growth

Hotels and Resorts

Operating revenue1,393

Operating profit97

Year on year against the same period last yearProfit growth

Medium-term management plan targets

FY2027

Operating revenue

¥11,800 100 million

Operating profit

¥1,120 100 million

Profit attributable to owners of the parent

¥920 100 million

EPS

¥164.88

ROE

9.3 %

Financial targets

ROE

FY2025 actual10 %

FY2027 target9.3 %

Interest-bearing debt/Tokyu EBITDA

FY2025 actual6.1 times

FY2027 target6 times

Net interest-bearing debt/EBITDA multiple

FY2025 actual6.8 times

FY2027 target6.6 times

Capital expenditures

¥641 100 million

Annual Dividend

¥32 per share

Payout ratio

In the medium to long term, the Company is mindful of a dividend payout ratio of 30%

Acquisition of treasury shares

up to ¥20 billion

Number of Sharesup to 13 million shares

Contents of this document
Item	Details
Document type	Financial results presentation
Fiscal Period Covered	FY2025 (fiscal year ending March 2026)
Net Sales	¥10,861 100 million (YoY +3.0%)
Operating profit	¥1,031 100 million (YoY -0.3%)
Ordinary income	¥1,161 100 million (YoY +7.8%)
Net income	¥870 100 million (YoY +9.3%)
Full-year earnings forecast	Operating revenue ¥11,400 100 million / Operating profit ¥1,100 100 million / Business profit ¥1,115 100 million / Ordinary income ¥1,114 100 million / Profit attributable to owners of the parent ¥900 100 million
Segment results	Transportation Business Operating revenue Not disclosed / Operating profit 273 / Year on year against the same period last year Profit decrease / Real Estate Business Operating revenue 2,629 / Operating profit 435 / Year on year against the same period last year Profit decrease / Lifestyle Services Operating revenue 5,332 / Operating profit 218 / Year on year against the same period last year Profit growth / Hotels and Resorts Operating revenue 1,393 / Operating profit 97 / Year on year against the same period last year Profit growth
Breakdown of Factors Affecting the Change	Operating profit versus previous year Hotels and Resorts +¥3.0 billion / Lifestyle Services +¥2.5 billion / Transportation -¥1.6 billion / Real Estate -¥4.8 billion / Corporate and eliminations +¥500 million / Operating profit versus February forecast Hotels and Resorts -¥0.2 billion / Lifestyle Services -¥0.5 billion / Real Estate -¥1.0 billion / Transportation -¥1.3 billion / Corporate and eliminations +¥0.3 billion
Key KPIs	Indicator name EPS / Value ¥152.25 / Year on year against the same period last year +¥17.44, Indicator name ROE / Value 10 % / Year on year against the same period last year +0.2 percentage points, Indicator name ROA / Value 3.7 % / Year on year against the same period last year -0.1 percentage points, Indicator name Tokyu EBITDA / Value ¥2,279 100 million / Year on year against the same period last year +6.4%, Indicator name EBITDA / Value ¥1,917 100 million / Year on year against the same period last year +0.9%, Indicator name Passengers carried / Value 1,117 million people / Year on year against the same period last year +3.1%, Indicator name ADR / Value ¥26,681 / Year on year against the same period last year +¥2,761, Indicator name RevPAR / Value ¥21,223 / Year on year against the same period last year Not disclosed
Unit price and quantity metrics	Transportation Passengers carried 1,117 million people / Fare revenue Not disclosed / Hotels ADR ¥26,681 / Real Estate Sales Not disclosed
Assumptions Underlying the Business Outlook	Passengers carried 1,143 million people / Fare revenue ¥156,869 million / Condominium units delivered 345 units / Hotel occupancy rate 80.6 % / Hotel ADR ¥27,887 / Increase in personnel expenses 70 Approximately ¥100 million
Medium-term management plan targets	FY2027 Operating revenue ¥11,800 100 million / Operating profit ¥1,120 100 million / Profit attributable to owners of the parent ¥920 100 million / EPS ¥164.88 / ROE 9.3 %
Financial targets	ROE FY2025 actual 10 % / FY2027 target 9.3 % / Interest-bearing debt/Tokyu EBITDA FY2025 actual 6.1 times / FY2027 target 6 times / Net interest-bearing debt/EBITDA multiple FY2025 actual 6.8 times / FY2027 target 6.6 times
Annual Dividend	¥32 per share
Payout ratio	In the medium to long term, the Company is mindful of a dividend payout ratio of 30%
Acquisition of treasury shares	Amount up to ¥20 billion / Number of Shares up to 13 million shares / Period Not disclosed
Capital expenditures	¥641 100 million
New initiatives	Opening Japan's first Bacha Coffee flagship store in Ginza, Contribution of 2 properties to Tokyu REIT, Formation and utilization of the private fund TR1 Realty, Development and operation of renewable energy generation and storage facilities, Formulation and disclosure of the next management plan within FY2026

Items this document does not state (12)

Gross Profit MarginOperating profit marginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookOrders received and order backlogMarket Size / ShareKey points of the Q&A

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.

In FY2025, operating revenue increased as all businesses performed well, led by the hotel and resort business. Operating profit was broadly unchanged from the previous year due to the reaction to the sale of a large property in the real estate business in the previous fiscal year, as well as higher costs across the businesses. Net income attributable to owners of the parent increased, reflecting the amount equivalent to negative goodwill associated with the additional acquisition of investment units in Tokyu Real Estate Investment Corporation and an increase in equity-method investment gains. For FY2026, the Company expects an increase in transport users, higher condominium sales in the real estate business, and higher hotel occupancy rates and ADR.

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