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

Briefing Materials for the Fiscal Year Ending March 2026

Based on FY2025 results, the company has specified its targets for operating income and ROE through FY2030, growth investments, shareholder returns, and key initiatives by business. Growth investments will total ¥400 billion for FY2026–FY2030, while shareholder returns will total ¥180 billion. The company will strengthen its business portfolio, focusing on real estate and tourism.

Worth reading
65In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Improvement
Direction inferred from the company’s description.
Scale
4000
¥100 million (growth investments for FY2026–FY2030)
Wording
Conditional
How definitive the wording is.

Contents of this document

Medium-Term Management Plan PresentationFY2025 results and FY2026 plan (Medium-Term Management Plan: FY2024–FY2026)15 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Operating profit¥526 100 million FY2025 actual
Full-year earnings forecast
Fiscal 2026
Operating profit
540 Hundreds of millions of yen
FY2030
Operating profit
800 or more
ROE
10 or more
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
FY2025 operating income was ¥52.6 billion, broadly in line with the forecast
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • The numerical plan was prepared on the assumption of multiple policy rate hikes
  • Approximately 75% of remaining interest-bearing debt carries fixed interest rates
  • Interest-bearing debt/EBITDA is controlled in the 7x range
New initiatives
  • Introduction of a new Romancecar train (scheduled to enter service in March 2029)
  • Advancement of the Shinjuku Station West Exit District development project
  • Renovation and new development of hotels, contract operations, and the use of M&A
  • Strengthening investment in short-term-return real estate projects, domestic SPCs, and overseas real estate
  • Introduction of one-person train operation and relocation of the comprehensive rolling stock depot
  • Expansion of products and personnel exchanges through a business alliance with York Holdings
  • ¥20 billion in share repurchases by the end of December 2026
  • Lowering the minimum shareholding requirement for shareholder benefits and expanding benefits for long-term shareholders
Key KPIsA metric the company considers important as a management benchmark.
  • Hakone Freepass salesRecord high
  • Inbound share of Hakone Freepass sales40.8 % by number of tickets
  • EMot and MaaS Japan transaction value¥45 100 million FY2025
  • Proceeds from the sale of cross-shareholdings¥98 100 million FY2025
  • Equity ratio at the end of FY202536.4 %
  • Progress in developing digital talent80 % through FY2025
Unit price and quantity metricsThese figures show sales broken down by price and volume.
  • Number of tourists (Hakone)2,000 10,000 people
  • Number of hotel guests (Hakone)400 10,000 people
  • Number of tourists (Shonan, Fujisawa, and Kamakura)3,600 10,000 people
  • Daily passenger traffic (Ebina Station)
    Value
    FY2025 13 / FY2030 15 / FY2040 16
  • Daily passenger traffic (Shinjuku Station)
    Value
    FY2025 45 / FY2030 47 / FY2040 53
Segment results
  • Transportation
    FY2025 operating profit295 Hundreds of millions of yen
    FY2026 operating profit287 Hundreds of millions of yen
    FY2030 operating profit330 Hundreds of millions of yen
  • Real estate
    FY2025 operating profit154 Hundreds of millions of yen
    FY2026 operating profit191 Hundreds of millions of yen
    FY2030 operating profit320 Hundreds of millions of yen
  • Lifestyle Services
    FY2025 operating profit76 Hundreds of millions of yen
    FY2026 operating profit62 Hundreds of millions of yen
    FY2030 operating profit150 Hundreds of millions of yen
Medium-term management plan targets
  • Target fiscal yearFY2030
    Operating profitAt least ¥80 billion
  • Target fiscal yearFY2030
    ROE10% or higher
  • Target fiscal yearFY2030
    Operating income ROA5.0% or more
  • Target fiscal yearFY2026–FY2030
    Growth Investment¥400 billion
  • Target fiscal yearFY2026–FY2030
    Shareholder Returns¥180 billion
Financial targets
  • ROE
    Fiscal 20268.0%
    FY203010% or higher
  • Operating profit
    Fiscal 2026¥54 billion
    FY2030At least ¥80 billion
  • Interest-bearing debt/EBITDA ratio
    TargetControlled in the 7x range
  • Equity ratio
    FY203030%
Market Size / Share
  • Number of tourists in Hakone2,000 10,000 people
  • Number of hotel guests in Hakone400 10,000 people
  • Number of tourists in Shonan (Fujisawa and Kamakura)3,600 10,000 people
  • Ranking of destinations in Tokyo visited by international visitors to Japan2 No. 2 in Tokyo
Number of stores and locations
Number of restaurant locations: 160 in FY2025 and 190 in FY2030. The number of other stores and sites, and the number of openings and closures during the period, are Not disclosed
Number of employees
Total employees are Not disclosed. The company lists 11 redevelopment planners, 24 real estate securitization masters, and 46 mid-career and returning employees as specialist personnel. It targets a 30% reduction in staffing in FY2035 compared with FY2020.
Capital expenditures
¥3,700 100 million cumulative equipment renewal and environmental investments for FY2026–FY2030
Annual Dividend
  • Fiscal yearFY2025
    Annual Dividend¥55
  • Fiscal yearFiscal 2026
    Annual Dividend¥60
Payout ratio
Consolidated total payout ratio of 40% or more (FY2023–FY2026 average). The average for the same period is expected to be 56%.
Acquisition of treasury shares
¥20 billion
PeriodThrough the end of December 2026
Contents of this document
ItemDetails
Document typeMedium-Term Management Plan Presentation
Fiscal Period CoveredFY2025 results and FY2026 plan (Medium-Term Management Plan: FY2024–FY2026)
Operating profit¥526 100 million (FY2025 actual)
Full-year earnings forecastFiscal 2026 Operating profit 540 Hundreds of millions of yen / FY2030 Operating profit 800 or more / ROE 10 or more
Self-assessment against the planFY2025 operating income was ¥52.6 billion, broadly in line with the forecast
Segment resultsSegment Transportation / FY2025 operating profit 295 Hundreds of millions of yen / FY2026 operating profit 287 Hundreds of millions of yen / FY2030 operating profit 330 Hundreds of millions of yen / Year on year against the same period last year Not disclosed, Segment Real estate / FY2025 operating profit 154 Hundreds of millions of yen / FY2026 operating profit 191 Hundreds of millions of yen / FY2030 operating profit 320 Hundreds of millions of yen / Year on year against the same period last year Not disclosed, Segment Lifestyle Services / FY2025 operating profit 76 Hundreds of millions of yen / FY2026 operating profit 62 Hundreds of millions of yen / FY2030 operating profit 150 Hundreds of millions of yen / Year on year against the same period last year Not disclosed
Key KPIsIndicator Hakone Freepass sales / Value Record high / Year on year against the same period last year Not disclosed, Indicator Inbound share of Hakone Freepass sales / Value 40.8 % (by number of tickets) / Year on year against the same period last year Not disclosed, Indicator EMot and MaaS Japan transaction value / Value ¥45 100 million (FY2025) / Year on year against the same period last year Not disclosed, Indicator Proceeds from the sale of cross-shareholdings / Value ¥98 100 million (FY2025) / Year on year against the same period last year Not disclosed, Indicator Equity ratio at the end of FY2025 / Value 36.4 % / Year on year against the same period last year Not disclosed, Indicator Progress in developing digital talent / Value 80 % (through FY2025) / Year on year against the same period last year Not disclosed
Unit price and quantity metricsIndicator Number of tourists (Hakone) / Value 2,000 10,000 people, Indicator Number of hotel guests (Hakone) / Value 400 10,000 people, Indicator Number of tourists (Shonan, Fujisawa, and Kamakura) / Value 3,600 10,000 people, Indicator Daily passenger traffic (Ebina Station) / Value FY2025 13 / FY2030 15 / FY2040 16, Indicator Daily passenger traffic (Shinjuku Station) / Value FY2025 45 / FY2030 47 / FY2040 53
Number of stores and locationsNumber of restaurant locations: 160 in FY2025 and 190 in FY2030. The number of other stores and sites, and the number of openings and closures during the period, are Not disclosed
Number of employeesTotal employees are Not disclosed. The company lists 11 redevelopment planners, 24 real estate securitization masters, and 46 mid-career and returning employees as specialist personnel. It targets a 30% reduction in staffing in FY2035 compared with FY2020.
Assumptions Underlying the Business OutlookThe numerical plan was prepared on the assumption of multiple policy rate hikes, Approximately 75% of remaining interest-bearing debt carries fixed interest rates, Interest-bearing debt/EBITDA is controlled in the 7x range
Medium-term management plan targetsTarget fiscal year FY2030 / Operating profit At least ¥80 billion, Target fiscal year FY2030 / ROE 10% or higher, Target fiscal year FY2030 / Operating income ROA 5.0% or more, Target fiscal year FY2026–FY2030 / Growth Investment ¥400 billion, Target fiscal year FY2026–FY2030 / Shareholder Returns ¥180 billion
Financial targetsIndicator ROE / Fiscal 2026 8.0% / FY2030 10% or higher, Indicator Operating profit / Fiscal 2026 ¥54 billion / FY2030 At least ¥80 billion, Indicator Interest-bearing debt/EBITDA ratio / Target Controlled in the 7x range, Indicator Equity ratio / FY2030 30%
Annual DividendFiscal year FY2025 / Annual Dividend ¥55, Fiscal year Fiscal 2026 / Annual Dividend ¥60
Payout ratioConsolidated total payout ratio of 40% or more (FY2023–FY2026 average). The average for the same period is expected to be 56%.
Acquisition of treasury sharesAmount ¥20 billion / Period Through the end of December 2026
Capital expenditures¥3,700 100 million (cumulative equipment renewal and environmental investments for FY2026–FY2030)
Market Size / ShareIndicator Number of tourists in Hakone / Value 2,000 10,000 people, Indicator Number of hotel guests in Hakone / Value 400 10,000 people, Indicator Number of tourists in Shonan (Fujisawa and Kamakura) / Value 3,600 10,000 people, Indicator Ranking of destinations in Tokyo visited by international visitors to Japan / Value 2 No. 2 in Tokyo
New initiativesIntroduction of a new Romancecar train (scheduled to enter service in March 2029), Advancement of the Shinjuku Station West Exit District development project, Renovation and new development of hotels, contract operations, and the use of M&A, Strengthening investment in short-term-return real estate projects, domestic SPCs, and overseas real estate, Introduction of one-person train operation and relocation of the comprehensive rolling stock depot, Expansion of products and personnel exchanges through a business alliance with York Holdings, ¥20 billion in share repurchases by the end of December 2026, Lowering the minimum shareholding requirement for shareholder benefits and expanding benefits for long-term shareholders
Items this document does not state (12)
Net SalesOrdinary incomeNet incomeGross Profit MarginOperating profit marginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastBreakdown of Factors Affecting the ChangeRisk amount incorporated into the outlookOrders received and order backlogKey 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.

The company aims to grow with transit-oriented community development and tourism as its core businesses, taking into account external factors including rising inbound demand, inflation, higher interest rates, and population decline. It also plans to enhance corporate value through management that takes account of the cost of capital and share price, improved ROA, the use of financial leverage, and stronger shareholder returns.

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.
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
Briefing Materials for the Fiscal Year Ending March 2026 | Odakyu Electric Railway Co.,Ltd. (9007) timely disclosure | Komori