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Financial results presentation9005TOKYU CORPORATIONTransportation and Logistics

Overview of Financial Results for the First Quarter of the Fiscal Year Ending March 2027

In the first quarter of the fiscal year ending March 2027, revenue increased, driven by the sale of large-scale properties in the real estate sales business, while operating profit declined due to higher costs in the real estate leasing business and higher electricity procurement costs. Net income attributable to owners of the parent increased as a result of lower income taxes.

Worth reading
78Important
Scored from 5 of 6 sections
Direction
Mixed performance
Direction inferred from the company’s description.
Scale
121
¥100 million (year-on-year increase in operating revenue)
Wording
Definitive
How definitive the wording is.

Contents of this document

Financial results presentationFirst quarter of the fiscal year ending March 20278 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥2,734 100 million+4.6%
Operating profit¥313 100 million-2.8%
Ordinary income¥333 100 million-6.2%
Net income¥362 100 million+43.4%
Results for the three months of the current quarterOperating revenue ¥273.4 billion, operating profit ¥31.3 billion, ordinary profit ¥33.3 billion, net income attributable to owners of the parent ¥36.2 billion
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
Self-assessment against the planThe company's self-assessment against its own plan.
The number of units delivered in the real estate sales business is progressing smoothly compared with the earnings forecast
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Operating revenue
Transportation+¥2.2 billion
Real Estate+¥9.7 billion
Lifestyle Services+¥3.0 billion
Hotels and Resorts+¥900 million
Operating profit
Transportation+¥100 million
Real Estate+¥1.7 billion
Lifestyle Services-¥1.7 billion
Hotels and Resorts-¥0.5 billion
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • Tokyu Railways passenger volume1,143,831 million people
    Year on year against the same period last year+2.4%
  • Tokyu Railways fare revenue¥156,869 million
    Year on year against the same period last year+2.6%
  • Condominium units delivered345 units
    Year on year against the same period last year+103 units
  • Full-year hotel occupancy rate80.6 %
    Year on year against the same period last year+1.0 percentage points
  • Average daily rate per hotel room (ADR)¥27,887
    Year on year against the same period last year+¥1,206
  • Increase in personnel expenses70 Approximately ¥100 million
    Year on year against the same period last yearIncreased
Key KPIsA metric the company considers important as a management benchmark.
  • Tokyu EBITDA¥617 100 million
    Year on year against the same period last year+3.4%
  • EBITDA¥540 100 million
    Year on year against the same period last year+1.4%
  • Hotel occupancy rate78.7 %
    Year on year against the same period last year-1.5 percentage points
  • Rail and tram passenger numbers290,739 thousand customers
    Year on year against the same period last year+2.5%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
  • Passengers carried290,739 thousand customers
    Year on year against the same period last year+2.5%
  • Fare revenue¥39,440 million
    Year on year against the same period last year+2.3%
  • Average daily rate per hotel room (ADR)
    Year on year against the same period last yearAbove the previous year throughout the period
Segment results
Transportation
Operating revenue
¥571 100 million+4.0%
Operating profit
¥99 100 million+1.1%
Real Estate
Operating revenue
¥726 100 million+15.5%
Operating profit
¥151 100 million+13.2%
Lifestyle Services
Operating revenue
¥1,300 100 million+2.4%
Operating profit
¥34 100 million-33.9%
Hotels and Resorts
Operating revenue
¥349 100 million+2.8%
Operating profit
¥33 100 million-13.8%
Medium-term management plan targets
Operating revenue
¥11,050 100 million
Target fiscal yearFiscal 2026
Operating profit
¥1,050 100 million
Target fiscal yearFiscal 2026
Ordinary income
¥1,090 100 million
Target fiscal yearFiscal 2026
Profit attributable to owners of the parent
¥810 100 million
Target fiscal yearFiscal 2026
Financial targets
ROE
Target value8.7 %
Actual value10 %
ROA
Target value3.8 %
Actual value3.7 %
Interest-bearing debt/Tokyu EBITDA
Target value5.9 times
Actual value6.1 times
Net interest-bearing debt/EBITDA multiple
Target value6.2 times
Actual value6.8 times
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredFirst quarter of the fiscal year ending March 2027
Net Sales¥2,734 100 million (YoY +4.6%)
Operating profit¥313 100 million (YoY -2.8%)
Ordinary income¥333 100 million (YoY -6.2%)
Net income¥362 100 million (YoY +43.4%)
Results for the three months of the current quarterOperating revenue ¥273.4 billion, operating profit ¥31.3 billion, ordinary profit ¥33.3 billion, net income attributable to owners of the parent ¥36.2 billion
Full-year earnings forecastOperating 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
Self-assessment against the planThe number of units delivered in the real estate sales business is progressing smoothly compared with the earnings forecast
Segment resultsTransportation Operating revenue ¥571 100 million (YoY +4.0%) / Operating profit ¥99 100 million (YoY +1.1%) / Real Estate Operating revenue ¥726 100 million (YoY +15.5%) / Operating profit ¥151 100 million (YoY +13.2%) / Lifestyle Services Operating revenue ¥1,300 100 million (YoY +2.4%) / Operating profit ¥34 100 million (YoY -33.9%) / Hotels and Resorts Operating revenue ¥349 100 million (YoY +2.8%) / Operating profit ¥33 100 million (YoY -13.8%)
Breakdown of Factors Affecting the ChangeOperating revenue Transportation +¥2.2 billion / Real Estate +¥9.7 billion / Lifestyle Services +¥3.0 billion / Hotels and Resorts +¥900 million / Operating profit Transportation +¥100 million / Real Estate +¥1.7 billion / Lifestyle Services -¥1.7 billion / Hotels and Resorts -¥0.5 billion
Key KPIsTokyu EBITDA ¥617 100 million, EBITDA ¥540 100 million, Hotel occupancy rate 78.7 %, Rail and tram passenger numbers 290,739 thousand customers
Unit price and quantity metricsPassengers carried 290,739 thousand customers, Fare revenue ¥39,440 million, Average daily rate per hotel room (ADR) 非開示
Assumptions Underlying the Business OutlookTokyu Railways passenger volume 1,143,831 million people, Tokyu Railways fare revenue ¥156,869 million, Condominium units delivered 345 units, Full-year hotel occupancy rate 80.6 %, Average daily rate per hotel room (ADR) ¥27,887, Increase in personnel expenses 70 Approximately ¥100 million
Medium-term management plan targetsOperating revenue ¥11,050 100 million / Operating profit ¥1,050 100 million / Ordinary income ¥1,090 100 million / Profit attributable to owners of the parent ¥810 100 million
Financial targetsROE Target value 8.7 % / Actual value 10 % / ROA Target value 3.8 % / Actual value 3.7 % / Interest-bearing debt/Tokyu EBITDA Target value 5.9 times / Actual value 6.1 times / Net interest-bearing debt/EBITDA multiple Target value 6.2 times / Actual value 6.8 times
Items this document does not state (15)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesProgress against full-year forecastNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookAnnual DividendPayout ratioAcquisition of treasury sharesCapital expendituresOrders received and order backlogMarket Size / ShareKey points of the Q&ANew initiatives

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.

Operating revenue increased, driven by the asset-turnover building business and other operations in the real estate sales business. Operating profit declined due to higher costs in the real estate leasing business and higher procurement costs in the electricity retail business. Net income attributable to owners of the parent increased as lower income taxes more than offset the increase in interest expense.

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Overview of Financial Results for the First Quarter of the Fiscal Year Ending March 2027 | TOKYU CORPORATION (9005) timely disclosure | Komori