Worth reading
62In focus
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
440
¥100 million (year-on-year change in operating revenue)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationFY2025 actual results and FY2026 earnings forecast12 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥4,969 hundred million+9.7%
Operating profit¥523 hundred million-3.4%
Ordinary income¥511 hundred million-3.9%
Net income¥429 hundred million+0.2%
Full-year earnings forecast
Operating revenue
¥5,040 hundred million
Operating profit
¥510 hundred million
Ordinary income
¥478 hundred million
Profit attributable to owners of the parent
¥430 hundred million
EBITDA
¥907 hundred million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Compared with the forecast, operating revenue was ¥5.0 billion below plan, while operating profit was ¥1.3 billion above plan, ordinary profit was ¥1.4 billion above plan, and net income was ¥900 million above planBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
FY2025 operating revenue
Real Estate Business292
Construction and Facilities Business101
Hotel business35
Transportation31
Lifestyle services17
Consolidated adjustments-37
FY2025 operating profit
Construction and Facilities Business18
Lifestyle services5
Real Estate Business-4
Hotel business-7
Transportation-24
Consolidated adjustments-4
FY2026 operating revenue plan
Real Estate Business87
Transportation25
Hotel business11
Lifestyle services7
Construction and Facilities Business-27
Consolidated adjustments-32
FY2026 operating profit plan
Real Estate Business15
Construction and Facilities Business7
Transportation2
Hotel business-12
Lifestyle services-14
Consolidated adjustments-11
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
The impact on earnings from factors such as surging crude oil prices has not been incorporated into the current plan. Numerical assumptions are not disclosedNew initiatives
- Scheduled to begin sales of the Keio Tamagawa Hammons condominium development at “itonami,” the development project in front of Keio-Tamagawa Station
- Selected as the promotion partner and official sponsor of PokéPark KANTO
- Joint investment in the Tokyo Metropolitan Government’s fund to promote the supply of affordable housing
- Established the CVC fund “Keio Rail Fund” (¥8.0 billion in size, with an assumed 10-year investment period)
- Began considering the formation of a private REIT
- Commercialized 2 projects under the open innovation initiative “My turn”
- Joint investment in the development of the Rokkasho Village solar power plant
- Issuance of green bonds and use of social loans
Key KPIsA metric the company considers important as a management benchmark.
- Railway passenger numbers (FY2025)605 million people
- Platform screen-door installation rate29 ％
- Keio Liner revenue (FY2025)¥16 hundred millionYear on year against the same period last year+33.3%
- Keio Plaza Hotel Shinjuku room occupancy rate (FY2025)67.5 ％
- Keio Presso Inn room occupancy rate (FY2025)83.7 ％
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Railway passenger numbers
Routine maintenance
FY2025333 million people
Fiscal 2026 Plan336 million people
Non-commuter-pass passengers
FY2025272 million people
Fiscal 2026 Plan276 million people
Keio Plaza Hotel Shinjuku
Average room rate
FY2025¥37,265
Fiscal 2026 Plan¥40,459
Room occupancy rate
FY202567.5 ％
Fiscal 2026 Plan68.7 ％
Keio Presso Inn
Average room rate
FY2025¥14,658
Fiscal 2026 Plan¥15,835
Room occupancy rate
FY202583.7 ％
Fiscal 2026 Plan80.6 ％
Segment results
Transportation
Operating revenue
¥1,332 hundred million+2.4%
Operating profit
¥132 hundred million-15.4%
Real Estate Business
Operating revenue
¥1,207 hundred million+31.9%
Operating profit
¥171 hundred million-2.8%
Hotel business
Operating revenue
¥600 hundred million+6.4%
Operating profit
¥101 hundred million-6.5%
Construction and Facilities Business
Operating revenue
¥876 hundred million+13.2%
Operating profit
¥74 hundred million+32.1%
Lifestyle services
Operating revenue
¥1,460 hundred million+1.2%
Operating profit
¥58 hundred million+9.4%
Medium-term management plan targets
Plan nameKeio Group Medium-Term Management Plan “HIRAKU2030”
FY2030 target
Policy-held shares as a percentage of net assets10% or less
Sale proceeds from rental assets and other assets¥50.0 billion
Comparison with the FY2026 plan
Operating profit
Medium-Term Plan¥440 hundred million
Plan¥510 hundred million
Difference¥70 hundred million
Net income
Medium-Term Plan¥300 hundred million
Plan¥430 hundred million
Difference¥130 hundred million
ROE
Medium-Term Plan6.8 ％
Plan9.6 ％
Difference2.8 ％
ROA
Medium-Term Plan3.6 ％
Plan4 ％
Difference0.4 ％
Financial targets
ROE
FY2025 actual10 ％
Fiscal 2026 Plan9.6 ％
ROA
FY2025 actual4.4 ％
Fiscal 2026 Plan4 ％
Debt-to-equity ratio
FY2025 actual1.1 times
Fiscal 2026 Plan1.1 times
Equity ratio
FY2025 actual37 ％
Fiscal 2026 Plan37 ％
Capital expenditures
¥655 100 million FY2025 capital expenditures
Annual Dividend
FY2025¥110 per share
Fiscal 2026¥22 per share
NotesFY2026: ¥110.0 on a pre-stock-split basis
Payout ratio
Not disclosed (the materials state an assumption of a 50% total payout ratio)| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | FY2025 actual results and FY2026 earnings forecast |
| Net Sales | ¥4,969 hundred million (YoY +9.7%) |
| Operating profit | ¥523 hundred million (YoY -3.4%) |
| Ordinary income | ¥511 hundred million (YoY -3.9%) |
| Net income | ¥429 hundred million (YoY +0.2%) |
| Full-year earnings forecast | Operating revenue ¥5,040 hundred million / Operating profit ¥510 hundred million / Ordinary income ¥478 hundred million / Profit attributable to owners of the parent ¥430 hundred million / EBITDA ¥907 hundred million |
| Self-assessment against the plan | Compared with the forecast, operating revenue was ¥5.0 billion below plan, while operating profit was ¥1.3 billion above plan, ordinary profit was ¥1.4 billion above plan, and net income was ¥900 million above plan |
| Segment results | Transportation Operating revenue ¥1,332 hundred million (YoY +2.4%) / Operating profit ¥132 hundred million (YoY -15.4%) / Real Estate Business Operating revenue ¥1,207 hundred million (YoY +31.9%) / Operating profit ¥171 hundred million (YoY -2.8%) / Hotel business Operating revenue ¥600 hundred million (YoY +6.4%) / Operating profit ¥101 hundred million (YoY -6.5%) / Construction and Facilities Business Operating revenue ¥876 hundred million (YoY +13.2%) / Operating profit ¥74 hundred million (YoY +32.1%) / Lifestyle services Operating revenue ¥1,460 hundred million (YoY +1.2%) / Operating profit ¥58 hundred million (YoY +9.4%) |
| Breakdown of Factors Affecting the Change | FY2025 operating revenue Real Estate Business 292 / Construction and Facilities Business 101 / Hotel business 35 / Transportation 31 / Lifestyle services 17 / Consolidated adjustments -37 / FY2025 operating profit Construction and Facilities Business 18 / Lifestyle services 5 / Real Estate Business -4 / Hotel business -7 / Transportation -24 / Consolidated adjustments -4 / FY2026 operating revenue plan Real Estate Business 87 / Transportation 25 / Hotel business 11 / Lifestyle services 7 / Construction and Facilities Business -27 / Consolidated adjustments -32 / FY2026 operating profit plan Real Estate Business 15 / Construction and Facilities Business 7 / Transportation 2 / Hotel business -12 / Lifestyle services -14 / Consolidated adjustments -11 |
| Key KPIs | Indicator name Railway passenger numbers (FY2025) / Value 605 million people / Year on year against the same period last year Not disclosed, Indicator name Platform screen-door installation rate / Value 29 ％ / Year on year against the same period last year Not disclosed, Indicator name Keio Liner revenue (FY2025) / Value ¥16 hundred million / Year on year against the same period last year ¥33.3 hundred million, Indicator name Keio Plaza Hotel Shinjuku room occupancy rate (FY2025) / Value 67.5 ％ / Year on year against the same period last year Not disclosed, Indicator name Keio Presso Inn room occupancy rate (FY2025) / Value 83.7 ％ / Year on year against the same period last year Not disclosed |
| Unit price and quantity metrics | Railway passenger numbers Routine maintenance FY2025 333 million people / Fiscal 2026 Plan 336 million people / Non-commuter-pass passengers FY2025 272 million people / Fiscal 2026 Plan 276 million people / Keio Plaza Hotel Shinjuku Average room rate FY2025 ¥37,265 / Fiscal 2026 Plan ¥40,459 / Room occupancy rate FY2025 67.5 ％ / Fiscal 2026 Plan 68.7 ％ / Keio Presso Inn Average room rate FY2025 ¥14,658 / Fiscal 2026 Plan ¥15,835 / Room occupancy rate FY2025 83.7 ％ / Fiscal 2026 Plan 80.6 ％ |
| Assumptions Underlying the Business Outlook | The impact on earnings from factors such as surging crude oil prices has not been incorporated into the current plan. Numerical assumptions are not disclosed |
| Medium-term management plan targets | Plan name Keio Group Medium-Term Management Plan “HIRAKU2030” / FY2030 target Policy-held shares as a percentage of net assets 10% or less / Sale proceeds from rental assets and other assets ¥50.0 billion / Comparison with the FY2026 plan Operating profit Medium-Term Plan ¥440 hundred million / Plan ¥510 hundred million / Difference ¥70 hundred million / Net income Medium-Term Plan ¥300 hundred million / Plan ¥430 hundred million / Difference ¥130 hundred million / ROE Medium-Term Plan 6.8 ％ / Plan 9.6 ％ / Difference 2.8 ％ / ROA Medium-Term Plan 3.6 ％ / Plan 4 ％ / Difference 0.4 ％ |
| Financial targets | ROE FY2025 actual 10 ％ / Fiscal 2026 Plan 9.6 ％ / ROA FY2025 actual 4.4 ％ / Fiscal 2026 Plan 4 ％ / Debt-to-equity ratio FY2025 actual 1.1 times / Fiscal 2026 Plan 1.1 times / Equity ratio FY2025 actual 37 ％ / Fiscal 2026 Plan 37 ％ |
| Annual Dividend | FY2025 ¥110 per share / Fiscal 2026 ¥22 per share / Notes FY2026: ¥110.0 on a pre-stock-split basis |
| Payout ratio | Not disclosed (the materials state an assumption of a 50% total payout ratio) |
| Capital expenditures | ¥655 100 million (FY2025 capital expenditures) |
| New initiatives | Scheduled to begin sales of the Keio Tamagawa Hammons condominium development at “itonami,” the development project in front of Keio-Tamagawa Station, Selected as the promotion partner and official sponsor of PokéPark KANTO, Joint investment in the Tokyo Metropolitan Government’s fund to promote the supply of affordable housing, Established the CVC fund “Keio Rail Fund” (¥8.0 billion in size, with an assumed 10-year investment period), Began considering the formation of a private REIT, Commercialized 2 projects under the open innovation initiative “My turn”, Joint investment in the development of the Rokkasho Village solar power plant, Issuance of green bonds and use of social loans |
Items this document does not state (12)
Gross Profit MarginOperating 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 outlookAcquisition of treasury sharesOrders 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 in FY2025 due to higher sales in the real estate sales business, an increase in completed construction revenue in the construction and civil engineering business, and higher room rates in the hotel business. Operating profit nevertheless declined due to increased investment, including railway safety investments. Operating revenue is expected to increase in FY2026, supported by increased property sales in the real estate sales business and higher railway passenger numbers, while operating profit is expected to decline due to the recognition of asset retirement obligations related to the Shinjuku redevelopment project and higher depreciation and amortization expenses associated with hotel renovations.
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.