Medium-Term Management Plan Targets (FY2017 and FY2020)
First written in FY2017. 9 of 20 entries say "Advanced", first in FY2018-Q3. Latest entry: FY2025.
The whole theme swung hardest in 2021: 17 of 79 companies on the "Worse" side.
- FY2025AchievedAnnual report
「FY2024 actual results: consolidated operating income 541; net income attributable to owners of the parent 428; consolidated EBITDA 869」
In the final year of the Three-Year Medium-Term Management Plan beginning in FY2022, the company posted operating income of ¥54.1 billion, net income attributable to owners of the parent of ¥42.8 billion and EBITDA of ¥86.9 billion. These results exceeded the previous plan's FY2024 targets of ¥34.0 billion in operating income and ¥67.5 billion in EBITDA. - FY2025-H1AdvancedAnnual report
「Consolidated operating revenue increased in every segment to ¥214.189 billion, up 16.4% year on year, due to higher real estate sales, increased railway passenger numbers and the October 2023 revision of railway passenger fares. Consolidated operating income improved in every segment to ¥31.734 billion, up 32.7%. Consolidated EBITDA was ¥47.609 billion, up 24.2%.」
Toward the final-year targets of the FY2024 medium-term management plan, operating income for the current interim consolidated accounting period was ¥31.734 billion and EBITDA was ¥47.609 billion, up 32.7% and 24.2% year on year, respectively. - FY2024-Q3AdvancedAnnual report
「As a result, consolidated operating revenue increased in every segment to ¥294.056 billion, up 16.7% year on year. Consolidated operating income improved in every segment except other businesses to ¥39.5 billion, up 109.7%. Consolidated EBITDA was ¥61.885 billion, up 53.4%.」
Cumulative nine-month results toward the FY2024 targets were consolidated operating income of ¥39.5 billion and EBITDA of ¥61.885 billion. Operating income exceeded the full-year target of ¥34.0 billion, but the filing does not state that the full-year targets were achieved. - FY2024-Q2AdvancedAnnual report
「As a result, consolidated operating revenue increased in every segment to ¥184.058 billion, up 15.9% year on year. Consolidated operating income improved in every segment to ¥23.908 billion, up 153.9%. Consolidated ordinary income was ¥23.581 billion, up 146.4%, quarterly net income attributable to owners of the parent was ¥17.214 billion, up 305.3%, and consolidated EBITDA was ¥38.320 billion, up 62.0%.」
Cumulative first-half results toward the FY2024 targets of ¥34.0 billion in operating income and ¥67.5 billion in EBITDA were operating income of ¥23.908 billion and EBITDA of ¥38.320 billion. The filing does not state that the targets were achieved. - FY2024-Q1AdvancedAnnual report
「As a result, consolidated operating revenue increased in transportation, retail, and leisure and services to ¥88.764 billion, up 11.3% year on year. Consolidated operating income improved in every segment except other businesses to ¥11.973 billion, up 132.9%. Consolidated ordinary income was ¥12.134 billion, up 112.9%, quarterly net income attributable to owners of the parent was ¥8.825 billion, up 410.9%, and consolidated EBITDA was ¥18.895 billion, up 54.5%.」
First-quarter results toward the FY2024 medium-term management plan targets were operating income of ¥11.973 billion and EBITDA of ¥18.895 billion. The filing does not state that the targets were achieved, but profit and EBITDA improved year on year. - FY2023AdvancedAnnual report
「The company posted consolidated operating income of ¥21.4 billion and consolidated EBITDA of ¥50.6 billion for FY2022, against FY2024 targets of ¥34.0 billion in consolidated operating income and ¥67.5 billion in consolidated EBITDA under the medium-term management plan.」
Against the FY2024 targets in the new medium-term management plan, FY2022 actual results of ¥21.4 billion in operating income and ¥50.6 billion in EBITDA quantify the recovery. - FY2023-Q3Performance ImprovementAnnual report
「As a result, consolidated operating revenue increased in every segment to ¥251.888 billion, up 15.3% year on year. Consolidated operating income improved in every segment except other businesses to ¥18.838 billion, up 353.0%. Consolidated ordinary income was ¥19.088 billion, up 145.6%, quarterly net income attributable to owners of the parent was ¥12.723 billion, up 322.3%, and consolidated EBITDA was ¥40.332 billion, up 45.4%.」
Although it does not explicitly state that the new medium-term plan targets were achieved, consolidated operating revenue, operating income, quarterly net income attributable to owners of the parent and EBITDA all improved year on year. - FY2023-Q2Performance ImprovementAnnual report
「As a result, consolidated operating revenue increased in every segment to ¥158.826 billion, up 15.2% year on year. Consolidated operating income improved in every segment except other businesses to ¥9.416 billion. Consolidated ordinary income was ¥9.572 billion, and quarterly net income attributable to owners of the parent was ¥4.247 billion, due mainly to the reversal of deferred tax assets following the introduction of the consolidated taxation system. Consolidated EBITDA was ¥23.659 billion, up 65.1%.」
Although this does not explicitly state that the new medium-term plan targets were achieved, consolidated operating revenue increased 15.2% year on year, operating income was ¥9.416 billion and EBITDA increased 65.1%, indicating an improvement in business performance. - FY2022ReframedAnnual report
「For FY2024, the final year, the company is targeting operating income of ¥34.0 billion and EBITDA of ¥67.5 billion. Its financial targets are net interest-bearing debt of no more than ¥400.0 billion, a net interest-bearing debt-to-EBITDA ratio of no more than 6x and an equity ratio of approximately 38%. The company will maintain its credit ratings and prepare for cash outflows from the full-scale launch of large-scale investment in the 2030s.」
The target framework was reorganized from the previous FY2020 targets into a new plan ending in FY2024, adding net interest-bearing debt, leverage and the equity ratio to the operating income and EBITDA targets. - FY2022-Q3Performance ImprovementAnnual report
「As a result, consolidated operating revenue declined in real estate, other businesses and retail, which was significantly affected by the application of the Accounting Standard for Revenue Recognition and other standards, to ¥218.374 billion, down 5.3% year on year. Consolidated operating income improved in every segment to ¥4.158 billion. Consolidated ordinary income was ¥7.773 billion, due mainly to income from subsidies and other sources, and quarterly net income attributable to owners of the parent was ¥3.012 billion, due to the recognition of corporate income taxes and other items. Consolidated EBITDA was ¥27.735 billion, up 149.7%.」
Operating revenue declined due to the impact of applying accounting standards and other factors, but operating income improved from a loss in the previous year to ¥4.158 billion, and quarterly net income attributable to owners of the parent was ¥3.012 billion. The filing does not state that the medium-term targets were achieved. - FY2022-Q2Performance ImprovementAnnual report
「As a result, consolidated operating revenue declined in other businesses and in retail, which was significantly affected by the application of the Accounting Standard for Revenue Recognition and other standards, to ¥137.866 billion, down 0.3% year on year. Consolidated operating loss was ¥1.337 billion, despite improvements in every segment except other businesses. Consolidated ordinary income was ¥816 million, due to income from subsidies and other sources, while quarterly net loss attributable to owners of the parent was ¥1.070 billion, due to the recognition of corporate income taxes and other items.」
Operating revenue declined 0.3% year on year, but consolidated operating loss improved from ¥16.481 billion in the previous year to ¥1.337 billion, and ordinary income was ¥816 million. This is presented as a recovery in business performance, not as an indication that the medium-term management plan targets were achieved. - FY2021-Q3Deterioration in resultsAnnual report
「As a result, consolidated operating revenue declined in transportation, retail, and leisure and services to ¥230.551 billion, down 30.1% year on year. Consolidated operating loss was ¥15.106 billion, consolidated ordinary loss was ¥12.623 billion, and quarterly net loss attributable to owners of the parent was ¥13.155 billion.」
Cumulative nine-month results toward the FY2020 medium-term management plan targets were operating revenue down 30.1% year on year, an operating loss of ¥15.106 billion and quarterly net loss attributable to owners of the parent of ¥13.155 billion. - FY2021-Q2Deterioration in resultsAnnual report
「Consolidated operating revenue declined in every segment except other businesses to ¥138.249 billion, down 36.5% year on year, and consolidated operating loss was ¥16.481 billion.」
Cumulative first-half results against the FY2020 medium-term management plan targets were operating revenue down 36.5% year on year and an operating loss of ¥16.481 billion, indicating a worsening environment for achieving the targets. - FY2020SoftenedAnnual report
「The Three-Year Medium-Term Management Plan covering FY2018 through FY2020 is positioned as the “Realizing Growth Stage,” with final-year FY2020 targets of ¥470.0 billion in operating revenue, ¥48.0 billion in operating income, ¥30.0 billion in net income, a 10% operating margin and ROA of 5%. However, the group has been significantly affected by the spread of COVID-19, including a sharp decline in visitors to Japan and weak domestic personal consumption due to requests to refrain from going out. Given the current situation, in which ordinary business activities cannot be forecast, the consolidated earnings forecast and management indicators for FY2020 are undetermined.」
The company had set FY2020 targets including operating revenue of ¥470.0 billion, but made its consolidated earnings forecast and management indicators for FY2020 undetermined due to the spread of COVID-19. - FY2020-Q3AdvancedAnnual report
「Against this backdrop, based on the Keio Group Three-Year Medium-Term Management Plan beginning in FY2018, the group is promoting measures to realize growth, including monetizing strategic investment projects and selecting and concentrating on businesses. As a result, consolidated operating revenue declined 0.9% year on year to ¥329.990 billion, as higher revenue in transportation and other businesses was offset by declines in retail, real estate and leisure and services. Consolidated operating income increased 1.3% to ¥36.164 billion, due to higher income in transportation and other businesses. Consolidated ordinary income was ¥35.333 billion, down 0.7%, while quarterly net income attributable to owners of the parent increased 4.5% to ¥24.351 billion, due mainly to higher gains on sales of fixed assets. Consolidated EBITDA was ¥63.029 billion, up 0.7%.」
Cumulative nine-month results toward the final-year targets of the Three-Year Medium-Term Plan were operating revenue of ¥329.990 billion, operating income of ¥36.164 billion, quarterly net income attributable to owners of the parent of ¥24.351 billion and EBITDA of ¥63.029 billion. - FY2020-Q2AdvancedAnnual report
「Consolidated operating revenue was ¥217.833 billion, up 0.1% year on year, as higher revenue in transportation, retail and other businesses offset declines in real estate and leisure and services. Consolidated operating income was ¥23.960 billion, up 1.4%, due to higher income in transportation, retail and other businesses. Quarterly net income attributable to owners of the parent was ¥15.915 billion, up 5.2%, due mainly to an increase in gains on sales of fixed assets.」
As cumulative results for the first six months toward the final-year targets of the Three-Year Medium-Term Management Plan, the company posted operating revenue of ¥217.833 billion, operating income of ¥23.960 billion and quarterly net income attributable to owners of the parent of ¥15.915 billion. - FY2019AdvancedAnnual report
「The Three-Year Medium-Term Management Plan covering FY2018 through FY2020 is positioned as the “Realizing Growth Stage.” In terms of revenue and profit, the company has set the following targets, including operating revenue of ¥470.0 billion, net income of ¥30.0 billion, an operating margin of 10% and ROA of 5% for FY2020, the final year.」
For the latter three-year plan, the company specified final-year FY2020 targets of ¥470.0 billion in operating revenue, ¥48.0 billion in operating income, a 10% operating margin, ¥30.0 billion in net income attributable to owners of the parent and ROA of 5%. It states that FY2018 actual results achieved the original plan for each item. - FY2018AchievedAnnual report
「As a result, revenue and profit increased due to growth in railway passenger numbers following improvements in employment conditions and efforts to attract visitors to Japan in the hotel and other businesses. The FY2017 results, the final year of the Three-Year Medium-Term Management Plan, broadly achieved the targets originally set.」
Against FY2017 targets of ¥430.0 billion in operating revenue, ¥37.0 billion in operating income, ¥72.0 billion in EBITDA and ¥20.0 billion in net income attributable to owners of the parent, actual results were ¥434.6 billion, ¥38.5 billion, ¥74.8 billion and ¥23.8 billion, respectively. The company states that it broadly achieved its targets. - FY2018-Q3AdvancedAnnual report
「Quarterly net income attributable to owners of the parent was ¥21,913 million.」
Cumulative nine-month net income attributable to owners of the parent in FY2018 was ¥21.913 billion, exceeding the FY2017 full-year target of ¥20.0 billion. However, the filing does not state that the full-year target had been achieved. - FY2017First statedAnnual report
「For FY2017, the final year of the Keio Group Three-Year Medium-Term Management Plan, we are targeting net income attributable to owners of the parent of ¥20.0 billion, and by FY2020 we aim to achieve record-high operating revenue and net income attributable to owners of the parent.」
The company stated for the first time its targets of ¥20.0 billion in net income attributable to owners of the parent for FY2017 and record-high operating revenue and net income attributable to owners of the parent by FY2020. The plan lists FY2017 targets of ¥430.0 billion in operating revenue, ¥37.0 billion in operating income, ¥72.0 billion in EBITDA and ¥20.0 billion in net income attributable to owners of the parent.