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Presentation materials for financial results9007Odakyu Electric Railway Co.,Ltd.Transportation and Logistics

Presentation Materials for the Fiscal Year Ending March 2026 Results

In FY2025, operating revenue declined, while operating profit increased, driven by higher revenue in the transportation business. In FY2026, the company expects higher revenue and operating profit, supported by an increase in the number of real estate development units recognized, and plans to raise the annual dividend to ¥60 per share and repurchase ¥20 billion of its own shares.

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Mixed performance
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42567
¥ million
Wording
Conditional
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Contents of this document

Presentation materials for financial resultsFiscal year ending March 202612 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥418,732 million-0.9%
Operating profit¥52,659 million+2.4%
Ordinary income¥54,028 million+7.0%
Net income¥37,368 million-28.1%
Operating profit margin12.6 %
Full-year earnings forecast
Operating revenue
¥461,300 million
Operating profit
¥54,000 million
Ordinary income
¥47,900 million
Profit attributable to owners of the parent
¥38,300 million
Capital expenditures
¥132,800 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 profit were below the forecast as of November, while net income attributable to owners of the parent was above forecast
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Increase in operating revenue in the transportation business¥6,333 million
  • Increase in operating revenue in the real estate business¥328 million
  • Decrease in operating revenue in the lifestyle services business¥-10,089 million
  • Increase in operating profit in the transportation business¥3,021 million
  • Decrease in operating profit in the real estate business¥-379 million
  • Decrease in operating profit in the lifestyle services business¥-1,404 million
  • Reversal of gains on the sale of shares in affiliates¥-17,179 million
  • Gain on settlement of contracted construction project¥3,971 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • +0.7%
    AssumptionsRailway commuter passengers carried
  • +1.0%
    AssumptionsRailway non-commuter passengers carried
  • +1.3%
    AssumptionsTotal railway transportation revenue
  • 431 units
    AssumptionsReal estate sales units scheduled for recognition
  • 5 Engagements
    AssumptionsNumber of investment development projects scheduled for sale
  • +3.3%
    AssumptionsExisting-store merchandise sales in the store division
New initiatives
  • Repurchase ¥20 billion of the company’s own shares by the end of December 2026
  • Aim to implement progressive dividends through FY2030
  • Hotel Century Southern Tower will suspend operations from 1 October 2026 for renovation work
  • Real estate development is scheduled to recognize 431 units for sale, 25 purchase-and-resale units, and 5 investment development projects
Key KPIsA metric the company considers important as a management benchmark.
  • Total passengers carried712,628 thousand customers
    Year on year against the same period last year+2.0%
  • Total transportation revenue¥121,039 million
    Year on year against the same period last year+2.1%
  • Tourism revenue¥80,614 million
    Year on year against the same period last year+3.6%
  • Inbound tourism revenue¥26,078 million
    Year on year against the same period last year+4.5%
  • Odakyu Department Store merchandise sales¥64,680 million
    Year on year against the same period last year-3.5%
  • Store and retail operating revenue¥67,490 million
    Year on year against the same period last year+3.7%
  • Hotel occupancy rateShown by hotel
    Year on year against the same period last yearYear-on-year changes shown by hotel
Unit price and quantity metricsThese figures show sales broken down by price and volume.
  • Commuter passengers carried410,778 thousand customers
    Year on year against the same period last year+1.5%
  • Non-commuter passengers carried301,850 thousand customers
    Year on year against the same period last year+2.6%
  • Commuter transportation revenue¥43,034 million
    Year on year against the same period last year+1.4%
  • Non-commuter transportation revenue¥74,883 million
    Year on year against the same period last year+2.8%
  • Average room rate at hotels in the Hakone areaDown 0.3% from the previous fiscal year
Segment results
  • Transportation
    Operating revenue¥181,261 million (YoY +3.6%)
    Operating profit¥29,517 million (YoY +11.4%)
  • Real Estate Business
    Operating revenue¥96,226 million (YoY +0.3%)
    Operating profit¥15,473 million (YoY -2.4%)
  • Lifestyle services
    Operating revenue¥158,606 million (YoY -6.0%)
    Operating profit¥7,658 million (YoY -15.5%)
Medium-term management plan targets
  • At least ¥80 billion
    TargetFY2030 operating profit
    Target fiscal yearFY2030
  • 10% or higher
    TargetFY2030 ROE
    Target fiscal yearFY2030
  • In the 7x range
    TargetFY2030 interest-bearing debt/EBITDA ratio
    Target fiscal yearFY2030
Financial targets
  • ROE
    Actual results8.0%
    Target8.0% in FY2026 and 10% or more in FY2030
  • Interest-bearing debt/EBITDA ratio
    Actual results7.2x
    TargetIn the 7x range in both FY2026 and FY2030
  • Equity ratio
    Actual results36.4%
    Target30% in FY2030
Capital expenditures
FY2025 actual
¥81,385 million
FY2026 forecast
¥132,800 million
Annual Dividend
FY2025
Annual¥55 per share
Interim¥30 per share
End of period¥25 per share
Fiscal 2026
Annual¥60 per share
Interim¥30 per share
End of period¥30 per share
Acquisition of treasury shares
¥20,000 million
PeriodThrough the end of December 2026
Contents of this document
ItemDetails
Document typePresentation materials for financial results
Fiscal Period CoveredFiscal year ending March 2026
Net Sales¥418,732 million (YoY -0.9%)
Operating profit¥52,659 million (YoY +2.4%)
Ordinary income¥54,028 million (YoY +7.0%)
Net income¥37,368 million (YoY -28.1%)
Operating profit margin12.6 %
Full-year earnings forecastOperating revenue ¥461,300 million / Operating profit ¥54,000 million / Ordinary income ¥47,900 million / Profit attributable to owners of the parent ¥38,300 million / Capital expenditures ¥132,800 million
Self-assessment against the planOperating revenue and operating profit were below the forecast as of November, while net income attributable to owners of the parent was above forecast
Segment resultsSegment Transportation / Operating revenue ¥181,261 million (YoY +3.6%) / Operating profit ¥29,517 million (YoY +11.4%), Segment Real Estate Business / Operating revenue ¥96,226 million (YoY +0.3%) / Operating profit ¥15,473 million (YoY -2.4%), Segment Lifestyle services / Operating revenue ¥158,606 million (YoY -6.0%) / Operating profit ¥7,658 million (YoY -15.5%)
Breakdown of Factors Affecting the ChangeFactors Increase in operating revenue in the transportation business / Amount ¥6,333 million, Factors Increase in operating revenue in the real estate business / Amount ¥328 million, Factors Decrease in operating revenue in the lifestyle services business / Amount ¥-10,089 million, Factors Increase in operating profit in the transportation business / Amount ¥3,021 million, Factors Decrease in operating profit in the real estate business / Amount ¥-379 million, Factors Decrease in operating profit in the lifestyle services business / Amount ¥-1,404 million, Factors Reversal of gains on the sale of shares in affiliates / Amount ¥-17,179 million, Factors Gain on settlement of contracted construction project / Amount ¥3,971 million
Key KPIsIndicator name Total passengers carried / Value 712,628 thousand customers / Year on year against the same period last year 2 thousand customers, Indicator name Total transportation revenue / Value ¥121,039 million / Year on year against the same period last year ¥2.1 million, Indicator name Tourism revenue / Value ¥80,614 million / Year on year against the same period last year ¥3.6 million, Indicator name Inbound tourism revenue / Value ¥26,078 million / Year on year against the same period last year ¥4.5 million, Indicator name Odakyu Department Store merchandise sales / Value ¥64,680 million / Year on year against the same period last year ¥-3.5 million, Indicator name Store and retail operating revenue / Value ¥67,490 million / Year on year against the same period last year ¥3.7 million, Indicator name Hotel occupancy rate / Value Shown by hotel / Year on year against the same period last year Year-on-year changes shown by hotel
Unit price and quantity metricsIndicator name Commuter passengers carried / Value 410,778 thousand customers / Year on year against the same period last year 1.5 thousand customers, Indicator name Non-commuter passengers carried / Value 301,850 thousand customers / Year on year against the same period last year 2.6 thousand customers, Indicator name Commuter transportation revenue / Value ¥43,034 million / Year on year against the same period last year ¥1.4 million, Indicator name Non-commuter transportation revenue / Value ¥74,883 million / Year on year against the same period last year ¥2.8 million, Indicator name Average room rate at hotels in the Hakone area / Value Down 0.3% from the previous fiscal year
Assumptions Underlying the Business OutlookAssumptions Railway commuter passengers carried / Value +0.7%, Assumptions Railway non-commuter passengers carried / Value +1.0%, Assumptions Total railway transportation revenue / Value +1.3%, Assumptions Real estate sales units scheduled for recognition / Value 431 units, Assumptions Number of investment development projects scheduled for sale / Value 5 Engagements, Assumptions Existing-store merchandise sales in the store division / Value +3.3%
Medium-term management plan targetsTarget FY2030 operating profit / Value At least ¥80 billion / Target fiscal year FY2030, Target FY2030 ROE / Value 10% or higher / Target fiscal year FY2030, Target FY2030 interest-bearing debt/EBITDA ratio / Value In the 7x range / Target fiscal year FY2030
Financial targetsIndicator ROE / Actual results 8.0% / Target 8.0% in FY2026 and 10% or more in FY2030, Indicator Interest-bearing debt/EBITDA ratio / Actual results 7.2x / Target In the 7x range in both FY2026 and FY2030, Indicator Equity ratio / Actual results 36.4% / Target 30% in FY2030
Annual DividendFY2025 Annual ¥55 per share / Interim ¥30 per share / End of period ¥25 per share / Fiscal 2026 Annual ¥60 per share / Interim ¥30 per share / End of period ¥30 per share
Acquisition of treasury sharesAmount ¥20,000 million / Period Through the end of December 2026
Capital expendituresFY2025 actual ¥81,385 million / FY2026 forecast ¥132,800 million
New initiativesRepurchase ¥20 billion of the company’s own shares by the end of December 2026, Aim to implement progressive dividends through FY2030, Hotel Century Southern Tower will suspend operations from 1 October 2026 for renovation work, Real estate development is scheduled to recognize 431 units for sale, 25 purchase-and-resale units, and 5 investment development projects
Items this document does not state (11)
Gross Profit MarginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookPayout ratioOrders 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, revenue declined due to special factors in the lifestyle services business, while operating profit increased on higher passenger numbers and fare revisions in the transportation business. In FY2026, the company expects higher revenue and operating profit, supported by an increase in the number of real estate development units scheduled to be recognized, while higher depreciation and personnel expenses in the transportation business and the suspension of hotel operations are expected to weigh on profit.

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Presentation Materials for the Fiscal Year Ending March 2026 Results | Odakyu Electric Railway Co.,Ltd. (9007) timely disclosure | Komori