Worth reading
80Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
4000
Hundred millions of yenWording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revisedOperating profit0.0%
基準 80Target80Hundred millions of yen
ROE0.0pt
基準 10Target10％
Each line is the climb from the baseline the document states to the target it sets. The slope is scaled against the largest climb in this document. For metrics expressed as percentages, differences are shown in percentage points (pt).The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
Total investment plan¥770 billion (¥400 billion in growth investment and M&A plus ¥370 billion in facility renewal and environmental investment, FY2026–FY2030)
Investment amount by sectorField Growth Investment and M&A / Amount ¥400 billion / Period Covered FY2026–FY2030, Field Real estate / Amount ¥235 billion / Period Covered FY2026–FY2030, Field Transportation / Amount ¥105 billion / Period Covered FY2026–FY2030, Field Lifestyle Services / Amount ¥60 billion / Period Covered FY2026–FY2030, Field Tourism (included within the amounts for each business) / Amount ¥80.0 billion / Period Covered FY2026–FY2030, Field Facility renewal and environmental investment / Amount ¥370 billion / Period Covered FY2026–FY2030
Statements about the use of capital
Payout ratio / DOE policyTargeting a consolidated total payout ratio of at least 40% on average for FY2023–FY2026. The Company aims to increase dividends progressively through FY2030.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Treasury share acquisition policyAcquire ¥20 billion of treasury shares by the end of December 2026. The timing will be considered in light of changes in the business environment, performance and the supply-demand balance for the shares.
Cost of capitalCost of equity: approximately 6–7% (as of the end of March 2026)The cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Self-assessment of PBR and share pricePBR improved from 1.07x at the end of FY2024 to 1.12x at the end of FY2025. Although the share price and PBR improved to some extent after the targets were announced, they have remained broadly flat recently.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Capture tourism demand
02Expand the hotel business
03Strengthen the real estate business
04Advance the transportation business
05Strengthen the stores and retail business
06Create businesses through digital initiatives / Other lifestyle services
07Expand human capital
08Promote the use of AI and DX
09Governance
10Environment
11Strengthen dialogue with the capital markets
Plan assumptionsThe numerical plan was prepared on the assumption of multiple policy rate increases, Approximately 75% of remaining interest-bearing debt is at fixed interest rates, The external environment, including inbound tourism growth, population decline, inflation, rising construction costs and higher labor costs
Segment targetSegment Tourism / Sales Target Tourism revenue: ¥120 billion / Operating profit target ¥15 billion / Timing FY2030, Segment Transportation / Sales Target Not disclosed / Operating profit target ¥33 billion / Timing FY2030, Segment Real estate / Sales Target Not disclosed / Operating profit target ¥32 billion / ROA target At least 5.0% / Timing FY2030, Segment Lifestyle Services / Sales Target Not disclosed / Operating profit target ¥15 billion / Timing FY2030, Segment Hotel business / Sales Target Not disclosed / Operating profit target ¥5 billion / Timing FY2030, Segment Store and Retail Business / Sales Target Not disclosed / Operating profit target ¥3 billion / Operating profit margin target Above 3% / Timing FY2030, Segment Other lifestyle services / Sales Target Not disclosed / Operating profit target ¥7 billion / Timing FY2030
Non-financial targetsIndicator Development of personnel capable of planning and executing DX initiatives / Target value Approximately 520 people / Timing By FY2026, Indicator Staffing levels in the Company’s railway business / Target value 30% reduction from FY2020 / Timing FY2035, Indicator CO2 emissions from the Odakyu Group / Target value Net zero / Timing FY2050, Indicator Platform screen doors / Target value 47 stations and 130 platform tracks / Timing By FY2032, Indicator Daily passenger numbers at Ebina Station / Target value 150,000 passengers / Timing FY2030, Indicator Daily passenger numbers at Shinjuku Station / Target value 470,000 passengers / Timing FY2030, Indicator Daily passenger numbers at Machida Station / Target value 270,000 passengers / Timing FY2030, Indicator Daily passenger numbers at Shin-Yurigaoka Station / Target value 120,000 passengers / Timing FY2030
Size of the Target MarketApproximately 4 million visitors staying overnight in Hakone, approximately 20 million tourists, and approximately 36 million tourists in Shonan (Fujisawa and Kamakura). No source cited.
Risks identified by the company
Population decline, declining birthrate and population aging
Labor shortages
Inflation
Higher interest rates
Rising construction costs
Higher labor costs
Geopolitical risk
Risks associated with short-term real estate investment projects
Changes in the supply-demand balance for the shares
Reason for revision or withdrawal
Investment increased in response to inflation and the detailing of investment plans. The plan was updated in light of steady progress in expanding short-term real estate investment projects, responses to rising interest rates, and the external environment, including inbound tourism growth and population decline.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan (FY2024–FY2026) |
| Plan period | FY2024-FY2026 |
| Progress against the plan | Partially revised |
| Operating profit target | ¥80.0 billion → At least ¥80 billion |
| ROE target | At least 10% → At least 10% |
| Payout ratio / DOE policy | Targeting a consolidated total payout ratio of at least 40% on average for FY2023–FY2026. The Company aims to increase dividends progressively through FY2030. |
| Treasury share acquisition policy | Acquire ¥20 billion of treasury shares by the end of December 2026. The timing will be considered in light of changes in the business environment, performance and the supply-demand balance for the shares. |
| Cost of capital | Cost of equity: approximately 6–7% (as of the end of March 2026) |
| Self-assessment of PBR and share price | PBR improved from 1.07x at the end of FY2024 to 1.12x at the end of FY2025. Although the share price and PBR improved to some extent after the targets were announced, they have remained broadly flat recently. |
| Total investment plan | ¥770 billion (¥400 billion in growth investment and M&A plus ¥370 billion in facility renewal and environmental investment, FY2026–FY2030) |
| Investment amount by sector | Field Growth Investment and M&A / Amount ¥400 billion / Period Covered FY2026–FY2030, Field Real estate / Amount ¥235 billion / Period Covered FY2026–FY2030, Field Transportation / Amount ¥105 billion / Period Covered FY2026–FY2030, Field Lifestyle Services / Amount ¥60 billion / Period Covered FY2026–FY2030, Field Tourism (included within the amounts for each business) / Amount ¥80.0 billion / Period Covered FY2026–FY2030, Field Facility renewal and environmental investment / Amount ¥370 billion / Period Covered FY2026–FY2030 |
| Segment target | Segment Tourism / Sales Target Tourism revenue: ¥120 billion / Operating profit target ¥15 billion / Timing FY2030, Segment Transportation / Sales Target Not disclosed / Operating profit target ¥33 billion / Timing FY2030, Segment Real estate / Sales Target Not disclosed / Operating profit target ¥32 billion / ROA target At least 5.0% / Timing FY2030, Segment Lifestyle Services / Sales Target Not disclosed / Operating profit target ¥15 billion / Timing FY2030, Segment Hotel business / Sales Target Not disclosed / Operating profit target ¥5 billion / Timing FY2030, Segment Store and Retail Business / Sales Target Not disclosed / Operating profit target ¥3 billion / Operating profit margin target Above 3% / Timing FY2030, Segment Other lifestyle services / Sales Target Not disclosed / Operating profit target ¥7 billion / Timing FY2030 |
| Non-financial targets | Indicator Development of personnel capable of planning and executing DX initiatives / Target value Approximately 520 people / Timing By FY2026, Indicator Staffing levels in the Company’s railway business / Target value 30% reduction from FY2020 / Timing FY2035, Indicator CO2 emissions from the Odakyu Group / Target value Net zero / Timing FY2050, Indicator Platform screen doors / Target value 47 stations and 130 platform tracks / Timing By FY2032, Indicator Daily passenger numbers at Ebina Station / Target value 150,000 passengers / Timing FY2030, Indicator Daily passenger numbers at Shinjuku Station / Target value 470,000 passengers / Timing FY2030, Indicator Daily passenger numbers at Machida Station / Target value 270,000 passengers / Timing FY2030, Indicator Daily passenger numbers at Shin-Yurigaoka Station / Target value 120,000 passengers / Timing FY2030 |
| Plan assumptions | The numerical plan was prepared on the assumption of multiple policy rate increases, Approximately 75% of remaining interest-bearing debt is at fixed interest rates, The external environment, including inbound tourism growth, population decline, inflation, rising construction costs and higher labor costs |
| Key initiatives | Capture tourism demand, Expand the hotel business, Strengthen the real estate business, Advance the transportation business, Strengthen the stores and retail business, Create businesses through digital initiatives / Other lifestyle services, Expand human capital, Promote the use of AI and DX, Governance, Environment, Strengthen dialogue with the capital markets |
| Reason for revision or withdrawal | Investment increased in response to inflation and the detailing of investment plans. The plan was updated in light of steady progress in expanding short-term real estate investment projects, responses to rising interest rates, and the external environment, including inbound tourism growth and population decline. |
| Size of the Target Market | Approximately 4 million visitors staying overnight in Hakone, approximately 20 million tourists, and approximately 36 million tourists in Shonan (Fujisawa and Kamakura). No source cited. |
| Risks identified | Population decline, declining birthrate and population aging, Labor shortages, Inflation, Higher interest rates, Rising construction costs, Higher labor costs, Geopolitical risk, Risks associated with short-term real estate investment projects, Changes in the supply-demand balance for the shares |
| Date of board resolution | 13 May 2026 |
| Publication date | 13 May 2026 |
Items this document does not state (5)
Sales TargetOperating profit margin targetNet income targetROIC targetResults under the previous plan
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.The update reflects the external environment, including inbound tourism growth and population decline, responses to inflation and rising interest rates, the detailing of investment plans, and steady progress in expanding short-term real estate investment projects.
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.