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Financial results presentation9006Keikyu CorporationTransportation and Logistics

Supplementary Financial Results Information for the Fiscal Year Ending March 2026

In FY2025, operating revenue increased, while operating income and ordinary income declined. However, net income increased due to gains on the sale of fixed assets. For FY2026, the company expects substantial increases in revenue and profit, based on the expansion of real estate sales and condominium sales.

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Direction
Mixed performance
Direction inferred from the company’s description.
Scale
973
¥100 million
Wording
Conditional
How definitive the wording is.

Contents of this document

Financial results presentationFiscal year ended March 2026 (fiscal 2025)12 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥304,192 million+3.5%
Operating profit¥33,553 million-5.9%
Ordinary income¥28,854 million-17.5%
Net income¥27,492 million+13.1%
Results for the three months of the current quarter
FY2025 4Q
Operating revenue
¥88,634 million
Operating profit
¥6,409 million
Ordinary income
¥5,554 million
Profit attributable to owners of parent for the quarter
¥8,779 million
Full-year earnings forecast
Operating revenue
¥4,015 100 million
Operating profit
¥450 100 million
Ordinary income
¥440 100 million
Profit attributable to owners of the parent
¥300 100 million
Earnings per share
¥115.06
ROE
8 %
Capital expenditures
¥1,630 100 million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Operating revenue and operating income exceeded the November forecast, while net income fell short of the forecast
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Transportation operating revenue¥30 100 million
  • Real estate operating revenue (absence of the prior year's gain from the sale of an interest in development land)¥-29 100 million
  • Leisure and services operating revenue¥28 100 million
  • Distribution operating revenue¥36 100 million
  • Other operating revenue¥94 100 million
  • Adjustments¥-57 100 million
  • Transportation operating income¥-1 100 million
  • Real estate operating income¥-22 100 million
  • Leisure and services operating income¥6 100 million
  • Distribution operating income¥0 100 million
  • Other operating income¥1 100 million
  • Adjustments¥-5 100 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • Assumed business hotel occupancy rate91.5 %
  • Assumed ADRAt the same level as fiscal 2025 actual results
  • Assumed railway passengers carried469 million people
  • Assumed passengers carried at the two Haneda Airport stations58 million people
New initiatives
  • Operation of a private REIT from the second half of FY2026
  • Full-scale launch of the asset-turnover real estate business
  • ¥30 billion share buyback in FY2026
  • Cancellation of part of the treasury shares acquired
Key KPIsA metric the company considers important as a management benchmark.
  • Railway passenger numbers456,289 thousand customers
    Year on year against the same period last year+2.3%
  • Passengers carried at the two Haneda Airport stations56,625 thousand customers
    Year on year against the same period last year+5.4%
  • Keikyu EX Hotel and Keikyu EX Inn occupancy rate91.4 %
    Year on year against the same period last year+3.8%
  • Number of guest rooms2,398 Rooms
  • Condominium units delivered349 units
Unit price and quantity metricsThese figures show sales broken down by price and volume.
  • Business hotel room occupancy rate91.4 %
    Year on year against the same period last year+3.8%
  • Business hotel average daily rate8.5 % increase
  • Railway passenger numbers456,289 thousand customers
    Year on year against the same period last year+2.3%
  • Railway passenger revenue¥83,513 million
    Year on year against the same period last year+2.5%
Segment results
Transportation Business
Operating revenue
¥121,591 million+2.6%
Operating profit
¥18,683 million-1.0%
Real Estate Business
Operating revenue
¥50,996 million-5.5%
Operating profit
¥4,680 million-32.4%
Leisure and services business
Operating revenue
¥34,594 million+9.1%
Operating profit
¥5,561 million+12.4%
Distribution Business
Operating revenue
¥84,874 million+4.5%
Operating profit
¥2,156 million+3.5%
Other Businesses
Operating revenue
¥57,797 million+19.6%
Operating profit
¥3,815 million+4.7%
Financial targets
ROE
FY2025 actual7.2 %
FY2026 forecast8 %
Equity ratio
End of March 202634.4 %
Capital expenditures
¥1,630 100 million
Annual Dividend
FY2025¥46 (interim ¥23, year-end ¥23)
Fiscal 2026¥46 (interim ¥23, year-end ¥23)
Fiscal 2027 onward¥46 or more
Payout ratio
FY202545.1 %
Fiscal 202640 %
Acquisition of treasury shares
¥300 100 million
PeriodScheduled for FY2026
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredFiscal year ended March 2026 (fiscal 2025)
Net Sales¥304,192 million (YoY +3.5%)
Operating profit¥33,553 million (YoY -5.9%)
Ordinary income¥28,854 million (YoY -17.5%)
Net income¥27,492 million (YoY +13.1%)
Results for the three months of the current quarterFY2025 4Q Operating revenue ¥88,634 million / Operating profit ¥6,409 million / Ordinary income ¥5,554 million / Profit attributable to owners of parent for the quarter ¥8,779 million
Full-year earnings forecastOperating revenue ¥4,015 100 million / Operating profit ¥450 100 million / Ordinary income ¥440 100 million / Profit attributable to owners of the parent ¥300 100 million / Earnings per share ¥115.06 / ROE 8 % / Capital expenditures ¥1,630 100 million
Self-assessment against the planOperating revenue and operating income exceeded the November forecast, while net income fell short of the forecast
Segment resultsTransportation Business Operating revenue ¥121,591 million (YoY +2.6%) / Operating profit ¥18,683 million (YoY -1.0%) / Real Estate Business Operating revenue ¥50,996 million (YoY -5.5%) / Operating profit ¥4,680 million (YoY -32.4%) / Leisure and services business Operating revenue ¥34,594 million (YoY +9.1%) / Operating profit ¥5,561 million (YoY +12.4%) / Distribution Business Operating revenue ¥84,874 million (YoY +4.5%) / Operating profit ¥2,156 million (YoY +3.5%) / Other Businesses Operating revenue ¥57,797 million (YoY +19.6%) / Operating profit ¥3,815 million (YoY +4.7%)
Breakdown of Factors Affecting the ChangeFactors Transportation operating revenue / Amount ¥30 100 million, Factors Real estate operating revenue (absence of the prior year's gain from the sale of an interest in development land) / Amount ¥-29 100 million, Factors Leisure and services operating revenue / Amount ¥28 100 million, Factors Distribution operating revenue / Amount ¥36 100 million, Factors Other operating revenue / Amount ¥94 100 million, Factors Adjustments / Amount ¥-57 100 million, Factors Transportation operating income / Amount ¥-1 100 million, Factors Real estate operating income / Amount ¥-22 100 million, Factors Leisure and services operating income / Amount ¥6 100 million, Factors Distribution operating income / Amount ¥0 100 million, Factors Other operating income / Amount ¥1 100 million, Factors Adjustments / Amount ¥-5 100 million
Key KPIsIndicator name Railway passenger numbers / Value 456,289 thousand customers / Year on year against the same period last year 2.3 thousand customers, Indicator name Passengers carried at the two Haneda Airport stations / Value 56,625 thousand customers / Year on year against the same period last year 5.4 thousand customers, Indicator name Keikyu EX Hotel and Keikyu EX Inn occupancy rate / Value 91.4 % / Year on year against the same period last year 3.8 %, Indicator name Number of guest rooms / Value 2,398 Rooms / Year on year against the same period last year Not disclosed, Indicator name Condominium units delivered / Value 349 units / Year on year against the same period last year Not disclosed
Unit price and quantity metricsIndicator name Business hotel room occupancy rate / Value 91.4 % / Year on year against the same period last year 3.8 %, Indicator name Business hotel average daily rate / Value 8.5 % increase / Year on year against the same period last year Not disclosed, Indicator name Railway passenger numbers / Value 456,289 thousand customers / Year on year against the same period last year 2.3 thousand customers, Indicator name Railway passenger revenue / Value ¥83,513 million / Year on year against the same period last year ¥2.5 million
Assumptions Underlying the Business OutlookItem Assumed business hotel occupancy rate / Value 91.5 %, Item Assumed ADR / Value At the same level as fiscal 2025 actual results, Item Assumed railway passengers carried / Value 469 million people, Item Assumed passengers carried at the two Haneda Airport stations / Value 58 million people
Financial targetsROE FY2025 actual 7.2 % / FY2026 forecast 8 % / Equity ratio End of March 2026 34.4 %
Annual DividendFY2025 ¥46 (interim ¥23, year-end ¥23) / Fiscal 2026 ¥46 (interim ¥23, year-end ¥23) / Fiscal 2027 onward ¥46 or more
Payout ratioFY2025 45.1 % / Fiscal 2026 40 %
Acquisition of treasury sharesAmount ¥300 100 million / Period Scheduled for FY2026
Capital expenditures¥1,630 100 million
New initiativesOperation of a private REIT from the second half of FY2026, Full-scale launch of the asset-turnover real estate business, ¥30 billion share buyback in FY2026, Cancellation of part of the treasury shares acquired
Items this document does not state (11)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesProgress against full-year forecastNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsOrders 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, transportation and leisure and services performed well, but operating income was pressured by the absence of the prior fiscal year's gain from the sale of an interest in real estate development land and by higher personnel expenses. Net income increased because the company recorded ¥19.7 billion in gains on the sale of fixed assets, including the transfer of national road land in connection with the Shinagawa Station West Exit area infrastructure development project. For FY2026, the company expects the full-scale launch of its asset-turnover real estate business, gains from real estate sales through securitization, and an increase in condominium units sold.

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Supplementary Financial Results Information for the Fiscal Year Ending March 2026 | Keikyu Corporation (9006) timely disclosure | Komori