Komori
Earnings presentation9007Odakyu Electric Railway Co.,Ltd.Transportation and Logistics

Briefing Materials on Financial Results for the First Quarter of the Fiscal Year Ending March 2027

In the first quarter of the fiscal year ending March 2027, operating revenue and operating income increased due to higher passenger numbers, fare revisions and improved profitability at existing stores. On the other hand, net income attributable to owners of the parent declined due to the reversal of gains on the sale of cross-shareholdings recorded in the previous year. The full-year forecast remains unchanged from the forecast announced in May 2026.

Worth reading
77Important
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
3471
Millions of yen (year-on-year increase in operating revenue)
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentationFirst quarter of the fiscal year ending March 202713 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥101,735 million+3.5%
Operating profit¥16,340 million+6.9%
Ordinary income¥16,214 million+1.1%
Net income¥11,622 million -16.6%profit attributable to owners of the parent
Operating profit margin16.1 %
Results for the three months of the current quarter
Operating revenue
¥101,735 million
Operating profit
¥16,340 million
Ordinary income
¥16,214 million
Profit attributable to owners of parent for the quarter
¥11,622 million
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
Depreciation and amortization
¥46,700 million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Operating revenue was in line with the forecast, while operating income exceeded the forecast. In the lifestyle services business, operating revenue was below the forecast, while operating income was in line with the forecast.
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Operating revenue¥1,920 million
    FactorsTransportation
  • Operating revenue¥310 million
    FactorsReal Estate Business
  • Operating revenue¥1,356 million
    FactorsLifestyle services
  • Operating revenue¥-115 million
    FactorsAdjustments
  • Operating profit¥957 million
    FactorsTransportation
  • Operating profit¥-136 million
    FactorsReal Estate Business
  • Operating profit¥236 million
    FactorsLifestyle services
  • Operating profit¥2 million
    FactorsAdjustments
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • Railway commuter passengers carried+0.7%
  • Railway non-commuter passengers carried+1.0%
  • Total railway passengers+0.8%
  • Total transportation revenue+1.3%
  • Real estate sales units scheduled for recognition431 units
  • Investment development, number of properties scheduled for sale5 Engagements
  • Stores division, existing-store sales+3.3%
New initiatives
  • Renovation of Hotel Century Southern Tower
    Launch timing1 October 2026
    DetailsHotel operations will be suspended during the construction period
  • Share buybacks
    DetailsAcquire ¥20 billion by the end of December 2026
Key KPIsA metric the company considers important as a management benchmark.
  • Total passengers carried187,962 thousand customers+1.6%
  • Total transportation revenue¥31,259 million+2.3%
  • Total operating expenses¥22,826 million+1.8%
  • Tourism revenue¥21,541 million+11.2%
  • Of which, inbound tourism revenue¥7,579 million+14.1%
  • Odakyu Department Store merchandise sales¥15,567 million+3.4%
  • Room occupancy rateShown by hotel
Unit price and quantity metricsThese figures show sales broken down by price and volume.
  • Commuter passengers carried111,228 thousand customers+1.2%
  • Non-commuter passengers carried76,734 thousand customers+2.2%
  • Commuter transportation revenue¥11,373 million+1.3%
  • Non-commuter transportation revenue¥19,067 million+2.7%
  • Average room rate at hotels in the Hakone area+4.0 versus the previous period+4.0%
Segment results
  • Transportation
    Operating revenue¥47,199 million
    Operating revenue_yoy_pct4.2
    Operating profit¥11,455 million
    Operating profit_yoy_pct9.1
  • Real Estate Business
    Operating revenue¥19,355 million
    Operating revenue_yoy_pct1.6
    Operating profit¥3,235 million
    Operating profit_yoy_pct-4
  • Lifestyle services
    Operating revenue¥39,102 million
    Operating revenue_yoy_pct3.6
    Operating profit¥1,643 million
    Operating profit_yoy_pct16.8
Medium-term management plan targets
  • TargetOperating profit
    Target value¥80,000 million or more
    Target fiscal yearFY2030
  • TargetROE
    Target value10 % or higher
    Target fiscal yearFY2030
  • TargetShareholder Returns
    Target value180,000 Millions of yen cumulative for fiscal 2026–2030
    Target fiscal yearFY2030
  • TargetEquity ratio
    Target value30 %
    Target fiscal yearFY2030
Financial targets
  • ROE
    Fiscal 20268
    FY203010% or higher
  • Interest-bearing debt/EBITDA ratio
    Fiscal 2026In the 7x range
    FY2030In the 7x range
  • Equity ratio
    Actual results36.3
    Target30
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
¥2,400 million
DetailsDecline in operating revenue due to the suspension of hotel operations at Hotel Century Southern Tower from 1 October 2026
Capital expenditures
¥132,800 million
Annual Dividend
Fiscal 2026
Annual60 Yen/share
Interim30 Yen/share
End of period30 Yen/share
Acquisition of treasury shares
¥20,000 million
PeriodThrough the end of December 2026
Contents of this document
ItemDetails
Document typeEarnings presentation
Fiscal Period CoveredFirst quarter of the fiscal year ending March 2027
Net Sales¥101,735 million (YoY +3.5%)
Operating profit¥16,340 million (YoY +6.9%)
Ordinary income¥16,214 million (YoY +1.1%)
Net income¥11,622 million (profit attributable to owners of the parent) (YoY -16.6%)
Operating profit margin16.1 %
Results for the three months of the current quarterOperating revenue ¥101,735 million / Operating profit ¥16,340 million / Ordinary income ¥16,214 million / Profit attributable to owners of parent for the quarter ¥11,622 million
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 / Depreciation and amortization ¥46,700 million
Self-assessment against the planOperating revenue was in line with the forecast, while operating income exceeded the forecast. In the lifestyle services business, operating revenue was below the forecast, while operating income was in line with the forecast.
Segment resultsSegment Transportation / Operating revenue ¥47,199 million / Operating revenue_yoy_pct 4.2 / Operating profit ¥11,455 million / Operating profit_yoy_pct 9.1, Segment Real Estate Business / Operating revenue ¥19,355 million / Operating revenue_yoy_pct 1.6 / Operating profit ¥3,235 million / Operating profit_yoy_pct -4, Segment Lifestyle services / Operating revenue ¥39,102 million / Operating revenue_yoy_pct 3.6 / Operating profit ¥1,643 million / Operating profit_yoy_pct 16.8
Breakdown of Factors Affecting the ChangeSubject Operating revenue / Factors Transportation / Amount ¥1,920 million, Subject Operating revenue / Factors Real Estate Business / Amount ¥310 million, Subject Operating revenue / Factors Lifestyle services / Amount ¥1,356 million, Subject Operating revenue / Factors Adjustments / Amount ¥-115 million, Subject Operating profit / Factors Transportation / Amount ¥957 million, Subject Operating profit / Factors Real Estate Business / Amount ¥-136 million, Subject Operating profit / Factors Lifestyle services / Amount ¥236 million, Subject Operating profit / Factors Adjustments / Amount ¥2 million
Key KPIsTotal passengers carried 187,962 thousand customers (YoY +1.6%), Total transportation revenue ¥31,259 million (YoY +2.3%), Total operating expenses ¥22,826 million (YoY +1.8%), Tourism revenue ¥21,541 million (YoY +11.2%), Of which, inbound tourism revenue ¥7,579 million (YoY +14.1%), Odakyu Department Store merchandise sales ¥15,567 million (YoY +3.4%), Room occupancy rate Shown by hotel
Unit price and quantity metricsCommuter passengers carried 111,228 thousand customers (YoY +1.2%), Non-commuter passengers carried 76,734 thousand customers (YoY +2.2%), Commuter transportation revenue ¥11,373 million (YoY +1.3%), Non-commuter transportation revenue ¥19,067 million (YoY +2.7%), Average room rate at hotels in the Hakone area +4.0 versus the previous period (YoY +4.0%)
Assumptions Underlying the Business OutlookRailway commuter passengers carried +0.7%, Railway non-commuter passengers carried +1.0%, Total railway passengers +0.8%, Total transportation revenue +1.3%, Real estate sales units scheduled for recognition 431 units, Investment development, number of properties scheduled for sale 5 Engagements, Stores division, existing-store sales +3.3%
Risk amount incorporated into the outlookAmount ¥2,400 million / Details Decline in operating revenue due to the suspension of hotel operations at Hotel Century Southern Tower from 1 October 2026
Medium-term management plan targetsTarget Operating profit / Target value ¥80,000 million or more / Target fiscal year FY2030, Target ROE / Target value 10 % or higher / Target fiscal year FY2030, Target Shareholder Returns / Target value 180,000 Millions of yen (cumulative for fiscal 2026–2030) / Target fiscal year FY2030, Target Equity ratio / Target value 30 % / Target fiscal year FY2030
Financial targetsIndicator ROE / Fiscal 2026 8 % / FY2030 10% or higher, Indicator Interest-bearing debt/EBITDA ratio / Fiscal 2026 In the 7x range / FY2030 In the 7x range, Indicator Equity ratio / Actual results 36.3 % / Target 30 %
Annual DividendFiscal 2026 Annual 60 Yen/share / Interim 30 Yen/share / End of period 30 Yen/share
Acquisition of treasury sharesAmount ¥20,000 million / Period Through the end of December 2026
Capital expenditures¥132,800 million
New initiativesMeasures Renovation of Hotel Century Southern Tower / Launch timing 1 October 2026 / Details Hotel operations will be suspended during the construction period, Measures Share buybacks / Details Acquire ¥20 billion by the end of December 2026
Items this document does not state (9)
Gross Profit MarginSelling, general and administrative expensesProgress against full-year forecastNumber of stores and locationsNumber of employeesPayout 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.

Operating revenue increased due to higher passenger numbers and fare revisions in the transportation business, as well as improved revenue at existing stores and new store openings in the stores and retail and restaurant businesses. The increase in operating income was driven mainly by higher revenue in the transportation business. Quarterly net income declined due to the reversal of gains on the sale of investment securities arising from the sale of cross-shareholdings in the previous year, among other factors.

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.
Briefing Materials on Financial Results for the First Quarter of the Fiscal Year Ending March 2027 | Odakyu Electric Railway Co.,Ltd. (9007) timely disclosure | Komori