Earnings recovery in fiscal 2021 and return to the 7x range for the interest-bearing debt-to-EBITDA multiple
First written in FY2021. 8 of 12 entries say "Advanced", first in FY2022-Q1. Latest entry: FY2024.
The whole theme swung hardest in 2025: 3 of 12 companies on the "Worse" side.
1 other company's latest entry also says "Achieved".
- FY2024AchievedAnnual report
「In line with the increase in operating income, Tokyu EBITDA was ¥203.6 billion and the interest-bearing debt-to-Tokyu EBITDA ratio was 6.2x, meaning that all targets set in the medium-term three-year management plan were achieved.」
In the final year of the medium-term plan, Tokyu EBITDA was ¥203.6 billion and the interest-bearing debt-to-Tokyu EBITDA ratio was 6.2x, with all stated targets achieved. - FY2024-Q3AdvancedAnnual report
「During the first nine months of the current consolidated fiscal year, user numbers recovered mainly in the transportation and hotel and resort businesses following the reclassification of COVID-19 as a Class 5 infectious disease, among other factors. Together with railway fare revisions, this resulted in operating revenue of ¥728.901 billion, up 8.7% year on year, operating income of ¥69.261 billion, up 89.1%, and ordinary income of ¥72.696 billion, up 91.8%. Net income attributable to owners of the parent was ¥50.046 billion, up 106.4%, mainly due to an increase in equity-method investment gains.」
Operating revenue, operating income, ordinary income and net income attributable to owners of the parent for the cumulative third quarter exceeded the year-earlier period, driven by the recovery in users and fare revisions, indicating progress in the earnings recovery. - FY2024-Q2AdvancedAnnual report
「During the first six months of the current consolidated fiscal year, user numbers recovered mainly in the transportation and hotel and resort businesses following the reclassification of COVID-19 as a Class 5 infectious disease, among other factors. Together with railway fare revisions, this resulted in operating revenue of ¥483.468 billion, up 11.2% year on year, operating income of ¥45.533 billion, up 108.6%, and ordinary income of ¥49.688 billion, up 101.0%.」
As part of the earnings recovery, first-half operating income was ¥45.533 billion and ordinary income was ¥49.688 billion, supported by the recovery in users and fare revisions. - FY2024-Q1AdvancedAnnual report
「For the cumulative first quarter of the fiscal year, operating revenue was ¥239.259 billion, up 14.4% year on year, and operating income was ¥24.518 billion, up 179.5%. Ordinary income was ¥27.676 billion, up 169.4%, reflecting the recovery in users, particularly in the transportation and hotel and resort businesses, fare revisions, and property sales in the real estate business. Net income attributable to owners of the parent was ¥19.963 billion, up 174.3%, mainly due to an increase in equity-method investment income.」
In FY2024-Q1, operating revenue, operating income, ordinary income and net income attributable to owners of the parent increased year on year, driven by the recovery in users, fare revisions and property sales. - FY2023AdvancedAnnual report
「Fiscal 2022 was a milestone year for the Company, including its 100th anniversary in September, and the second year of the three-year medium-term management plan targeting the restoration of profitability by responding to changes in the business environment and promoting structural reform. At the Company, too, profit targets set at the beginning of the fiscal year were achieved, partly due to a recovery in user numbers mainly in the transportation and hotel and resort businesses.」
The disclosure states that the profit targets set at the beginning of fiscal 2022 were achieved in the second year of the medium-term plan, demonstrating progress in restoring profitability. - FY2023-Q3AdvancedAnnual report
「In the first nine months of the current consolidated fiscal year, operating revenue was ¥670.505 billion, up 2.4% year on year, and operating income was ¥36.632 billion, up 5.0%, mainly due to a recovery in user numbers in the transportation and hotel and resort businesses.」
In the first nine months of fiscal 2022, operating revenue and operating income exceeded the same period of the previous year, indicating progress in restoring profitability. - FY2023-Q2Recovery continued, but profit declined year on yearAnnual report
「In the first six months of the current consolidated fiscal year, operating revenue was ¥434.693 billion, down 1.9% year on year, operating income was ¥21.823 billion, down 12.5%, and ordinary income was ¥24.725 billion, down 7.1%. Although user numbers recovered mainly in the transportation and hotel and resort businesses, results were affected by the reversal of the previous year's sales of large-scale properties in the real estate business, among other factors.」
User numbers continued to recover, but operating income was ¥21.823 billion, down 12.5% year on year, due mainly to the reversal of the previous year's large-scale property sales. The disclosure presents both the factors supporting recovery and those causing lower profit in relation to the medium-term plan's profit recovery. - FY2023-Q1AdvancedAnnual report
「In the first quarter of the current consolidated fiscal year, operating revenue was ¥209.182 billion, up 5.0% year on year, partly reflecting a recovery in user numbers, mainly in the transportation and hotel and resort businesses. Operating income was ¥8.772 billion, up 677.0%, and ordinary income was ¥10.272 billion, up 499.1%.」
In the first quarter of fiscal 2022, the Group recorded operating income of ¥8.772 billion and ordinary income of ¥10.272 billion, with profits increasing from the same period of the previous year. The disclosure describes progress toward the fiscal 2022 profit recovery target as of the quarter. - FY2022RaisedAnnual report
「The specific numerical targets for fiscal 2022 are as follows. Quantitative indicators: fiscal 2022; Tokyu EBITDA: ¥140.9 billion; operating income: ¥40.0 billion; interest-bearing debt/Tokyu EBITDA: 9.0x. In fiscal 2023, the final year of the three-year medium-term management plan, we will aim to return the interest-bearing debt/Tokyu EBITDA multiple to the 7x range and maintain financial soundness.」
The Group set fiscal 2022 targets of Tokyu EBITDA of ¥140.9 billion, operating income of ¥40.0 billion and a debt multiple of 9.0x, while maintaining the ultimate target of a debt multiple in the 7x range in fiscal 2023. - FY2022-Q2AdvancedAnnual report
「In the first six months of the current consolidated fiscal year, operating revenue was ¥443.052 billion, up 2.1% year on year, despite the impact of applying the Accounting Standard for Revenue Recognition and other standards. This reflected a recovery in user numbers from the impact of requests to refrain from going out and store closures following the state of emergency declared in April of the previous year, mainly in the transportation and hotel and resort businesses, as well as sales of large-scale properties in the real estate business. Operating income was ¥24.941 billion, compared with operating loss of ¥20.398 billion in the same period of the previous year, and ordinary income was ¥26.611 billion, compared with ordinary loss of ¥19.353 billion.」
In the first six months of fiscal 2021, the Group recorded operating income of ¥24.941 billion and ordinary income of ¥26.611 billion, turning to profit from operating loss and ordinary loss in the same period of the previous year. The disclosure describes progress toward the profit recovery target. - FY2022-Q1AdvancedAnnual report
「In the first quarter of the current consolidated fiscal year, operating revenue was ¥199.175 billion, down 5.0% year on year, due to the impact of applying the Accounting Standard for Revenue Recognition and other standards. Operating income was ¥1.129 billion, compared with operating loss of ¥15.716 billion in the same period of the previous year, and ordinary income was ¥1.714 billion, compared with ordinary loss of ¥18.161 billion. This reflected a recovery in user numbers from the impact of requests to refrain from going out and store closures following the state of emergency declared in April of the previous year, mainly in the transportation and hotel and resort businesses.」
In the first quarter of fiscal 2021, the Group recorded operating income of ¥1.129 billion and ordinary income of ¥1.714 billion, turning to profit from operating loss and ordinary loss in the same period of the previous year. The disclosure describes progress toward the fiscal 2021 profit recovery target as of the quarter. - FY2021First statedAnnual report
「The specific numerical targets for fiscal 2021 are as follows. We will steadily restore profits in each business from the second year onward. Tokyu EBITDA: ¥118.7 billion; operating income: ¥20.0 billion; interest-bearing debt/Tokyu EBITDA: 10.3x. We also aim to return the interest-bearing debt/Tokyu EBITDA multiple to the 7x range and maintain financial soundness.」
The Group set Tokyu EBITDA, operating income and the debt multiple as numerical targets for fiscal 2021 and aims to restore the debt multiple to the 7x range over the medium to long term.