Worth reading
61In 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
1300
¥ millionWording
Conditional
How definitive the wording is.Contents of this document
Supplementary materials to the earnings reportFY2026 second quarter (interim period)9 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥143,759 million+13.6%
Operating profit¥23,367 million+7.8%
Ordinary income¥21,772 million+5.0%
Net income¥14,685 million+4.3%
Full-year earnings forecast
Operating revenue
¥288,800 million
Operating profit
¥40,000 million
Ordinary income
¥35,400 million
Profit attributable to owners of the parent
¥23,800 million
Investment
¥126,700 million
Depreciation and amortization
¥29,200 million
EBITDA
¥69,500 million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Operating profit is progressing steadily toward achieving the initial target.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
An increase in condominium units sold and property sales in the real estate business, a decline due to the reaction from the Osaka-Kansai Expo, M&A-driven revenue growth, higher interest expenses, gains on sales of fixed assets, and other factors. The full-year forecast includes amounts in the segment-by-segment waterfall.
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Although the disclosure states that the forecast is based on certain assumptions, specific figures for foreign exchange rates, raw material prices and other factors are Not disclosed.New initiatives
- M&A in the building management and maintenance business
- Revenue-enhancement measures, including extending Tsutenkaku Tower's operating hours
Key KPIsA metric the company considers important as a management benchmark.
- Total passenger numbers across all lines124,194 thousand customersYear on year against the same period last year-0.6%
- Total passenger revenue across all lines¥34,710 millionYear on year against the same period last year-1.6%
- Year-on-year increase in condominium unit sales195 units
- Number of consolidated subsidiaries54 companies
Segment results
Transportation
Operating revenue
¥58,346 million-1.3%
Operating profit
¥8,563 million-13.4%
Real estate
Operating revenue
¥37,833 million+81.3%
Operating profit
¥9,508 million+45.5%
Distribution
Operating revenue
¥16,079 million+5.7%
Operating profit
¥2,447 million+2.8%
Leisure and Services Business
Operating revenue
¥25,494 million+10.7%
Operating profit
¥1,964 million-1.3%
Construction Business
Operating revenue
¥21,953 million-2.9%
Operating profit
¥1,170 million+7.3%
Other Businesses
Operating revenue
¥1,692 million+9.6%
Operating profit
¥-204 million
Financial targets
ROE
Target value7.0%
Net debt/EBITDA multiple
Target value7.4x
Capital expenditures
¥126,700 million
Acquisition of treasury shares
A cash outflow of ¥8.8 billion for the acquisition of treasury shares is disclosed. The acquisition limit, number of shares and period are Not disclosed.| Item | Details |
|---|---|
| Document type | Supplementary materials to the earnings report |
| Fiscal Period Covered | FY2026 second quarter (interim period) |
| Net Sales | ¥143,759 million (YoY +13.6%) |
| Operating profit | ¥23,367 million (YoY +7.8%) |
| Ordinary income | ¥21,772 million (YoY +5.0%) |
| Net income | ¥14,685 million (YoY +4.3%) |
| Full-year earnings forecast | Operating revenue ¥288,800 million / Operating profit ¥40,000 million / Ordinary income ¥35,400 million / Profit attributable to owners of the parent ¥23,800 million / Investment ¥126,700 million / Depreciation and amortization ¥29,200 million / EBITDA ¥69,500 million |
| Self-assessment against the plan | Operating profit is progressing steadily toward achieving the initial target. |
| Segment results | Transportation Operating revenue ¥58,346 million (YoY -1.3%) / Operating profit ¥8,563 million (YoY -13.4%) / Real estate Operating revenue ¥37,833 million (YoY +81.3%) / Operating profit ¥9,508 million (YoY +45.5%) / Distribution Operating revenue ¥16,079 million (YoY +5.7%) / Operating profit ¥2,447 million (YoY +2.8%) / Leisure and Services Business Operating revenue ¥25,494 million (YoY +10.7%) / Operating profit ¥1,964 million (YoY -1.3%) / Construction Business Operating revenue ¥21,953 million (YoY -2.9%) / Operating profit ¥1,170 million (YoY +7.3%) / Other Businesses Operating revenue ¥1,692 million (YoY +9.6%) / Operating profit ¥-204 million |
| Breakdown of Factors Affecting the Change | An increase in condominium units sold and property sales in the real estate business, a decline due to the reaction from the Osaka-Kansai Expo, M&A-driven revenue growth, higher interest expenses, gains on sales of fixed assets, and other factors. The full-year forecast includes amounts in the segment-by-segment waterfall. |
| Key KPIs | Indicator name Total passenger numbers across all lines / Value 124,194 thousand customers / Year on year against the same period last year -0.6 thousand customers, Indicator name Total passenger revenue across all lines / Value ¥34,710 million / Year on year against the same period last year ¥-1.6 million, Indicator name Year-on-year increase in condominium unit sales / Value 195 units / Year on year against the same period last year Not disclosed, Indicator name Number of consolidated subsidiaries / Value 54 companies / Year on year against the same period last year Not disclosed |
| Assumptions Underlying the Business Outlook | Although the disclosure states that the forecast is based on certain assumptions, specific figures for foreign exchange rates, raw material prices and other factors are Not disclosed. |
| Financial targets | ROE Target value 7.0% / Actual value Not disclosed / Net debt/EBITDA multiple Target value 7.4x / Actual value Not disclosed |
| Acquisition of treasury shares | A cash outflow of ¥8.8 billion for the acquisition of treasury shares is disclosed. The acquisition limit, number of shares and period are Not disclosed. |
| Capital expenditures | ¥126,700 million |
| New initiatives | M&A in the building management and maintenance business, Revenue-enhancement measures, including extending Tsutenkaku Tower's operating hours |
Items this document does not state (15)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsAnnual DividendPayout 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.During the interim period, an increase in condominium units sold and property sales in the real estate business contributed to higher revenue and profit. Full-year operating revenue has been revised upward to reflect the expected contribution from newly consolidated subsidiaries associated with M&A in the building management and maintenance business, among other factors. Ordinary profit has been revised downward due to higher interest expenses, among other factors.
How to read this page
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