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
7081
¥ millionWording
Conditional
How definitive the wording is.Contents of this document
Supplementary materials to the earnings reportFiscal year ending March 202610 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥332,471 million+6.0%
Operating profit¥49,152 million+16.8%
Ordinary income¥46,931 million+14.7%
Net income¥33,581 million+18.8%
Results for the three months of the current quarterQuarterly trends in operating revenue and operating income by segment are presented, but consolidated standalone results for the three-month quarter are not disclosed
Full-year earnings forecast
Fiscal year ending March 2027
Operating revenue
¥321,800 million
Operating profit
¥42,400 million
Ordinary income
¥38,100 million
Profit attributable to owners of the parent
¥29,000 million
EBITDA
¥69,000 million
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Non-Operating ExpensesInterest expenses +¥1,323 million
Extraordinary incomeContributions received for construction costs, etc. +¥844 million; gain on sale of fixed assets +¥673 million
Extraordinary lossLoss on reduction of fixed asset acquisition costs +¥660 million
Balance sheetLand and buildings for sale +¥4,690 million; notes and accounts receivable and contract assets +¥4,519 million; buildings and structures +¥14,558 million; land +¥9,750 million
Cash flowIncrease in trade receivables -¥9,449 million; profit before income taxes +¥6,726 million
New initiatives
- Fare revision by Keihan Electric Railway
- New store openings in the retail business
- Construction of new rolling stock
- Renovations, etc.
Key KPIsA metric the company considers important as a management benchmark.
- Passenger revenue¥53,163 million+7.4%
- Passenger numbers271,902 thousand customers+2.1%
- Hotel Keihan occupancy rate84.5 %yoy_change+2.7pt
- Keihan Hotels & Resorts occupancy rate78 %yoy_change△0.1pt
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Keihan Electric Railway
Passenger revenue
¥53,163 million+7.4%
Passenger numbers
271,902 thousand customers+2.1%
Segment results
Transportation
Operating revenue
¥97,522 million+6.7%
Operating profit
¥13,977 million+13.4%
Real Estate Business
Operating revenue
¥146,237 million+5.1%
Operating profit
¥26,062 million+16.6%
Distribution Business
Operating revenue
¥57,985 million+1.6%
Operating profit
¥2,818 million-1.0%
Leisure and Services Business
Operating revenue
¥44,491 million+11.3%
Operating profit
¥6,759 million+37.5%
Other Businesses
Operating revenue
¥5,409 million+4.7%
Operating profit
¥175 million+156.4%
Financial targets
Equity ratio
Actual results37.5 %
ROE
Actual results for the fiscal year ending March 202610.4 %
Forecast for the fiscal year ending March 20278.3 %
Net debt/EBITDA ratio
Actual results for the fiscal year ending March 20265 times
Forecast for the fiscal year ending March 20276.2 times
Capital expenditures
¥48,620 million
Annual Dividend
Forecast for the fiscal year ending March 2027
¥86 per share
Payout ratio
30 Approximately %
Acquisition of treasury shares
The company plans to conduct flexible share repurchases based on its financial soundness, capital efficiency and other factors. The repurchase limit, number of shares and period are not disclosed| Item | Details |
|---|---|
| Document type | Supplementary materials to the earnings report |
| Fiscal Period Covered | Fiscal year ending March 2026 |
| Net Sales | ¥332,471 million (YoY +6.0%) |
| Operating profit | ¥49,152 million (YoY +16.8%) |
| Ordinary income | ¥46,931 million (YoY +14.7%) |
| Net income | ¥33,581 million (YoY +18.8%) |
| Results for the three months of the current quarter | Quarterly trends in operating revenue and operating income by segment are presented, but consolidated standalone results for the three-month quarter are not disclosed |
| Full-year earnings forecast | Subject Fiscal year ending March 2027 / Operating revenue ¥321,800 million / Operating profit ¥42,400 million / Ordinary income ¥38,100 million / Profit attributable to owners of the parent ¥29,000 million / EBITDA ¥69,000 million |
| Segment results | Transportation Operating revenue ¥97,522 million (YoY +6.7%) / Operating profit ¥13,977 million (YoY +13.4%) / Real Estate Business Operating revenue ¥146,237 million (YoY +5.1%) / Operating profit ¥26,062 million (YoY +16.6%) / Distribution Business Operating revenue ¥57,985 million (YoY +1.6%) / Operating profit ¥2,818 million (YoY -1.0%) / Leisure and Services Business Operating revenue ¥44,491 million (YoY +11.3%) / Operating profit ¥6,759 million (YoY +37.5%) / Other Businesses Operating revenue ¥5,409 million (YoY +4.7%) / Operating profit ¥175 million (YoY +156.4%) |
| Breakdown of Factors Affecting the Change | Non-Operating Expenses Interest expenses +¥1,323 million / Extraordinary income Contributions received for construction costs, etc. +¥844 million; gain on sale of fixed assets +¥673 million / Extraordinary loss Loss on reduction of fixed asset acquisition costs +¥660 million / Balance sheet Land and buildings for sale +¥4,690 million; notes and accounts receivable and contract assets +¥4,519 million; buildings and structures +¥14,558 million; land +¥9,750 million / Cash flow Increase in trade receivables -¥9,449 million; profit before income taxes +¥6,726 million |
| Key KPIs | ¥53,163 million (YoY +7.4%), 271,902 thousand customers (YoY +2.1%), 84.5 %, 78 % |
| Unit price and quantity metrics | Keihan Electric Railway Passenger revenue ¥53,163 million (YoY +7.4%) / Passenger numbers 271,902 thousand customers (YoY +2.1%) |
| Financial targets | Equity ratio Actual results 37.5 % / ROE Actual results for the fiscal year ending March 2026 10.4 % / Forecast for the fiscal year ending March 2027 8.3 % / Net debt/EBITDA ratio Actual results for the fiscal year ending March 2026 5 times / Forecast for the fiscal year ending March 2027 6.2 times |
| Annual Dividend | Forecast for the fiscal year ending March 2027 ¥86 per share / Interim and Year-End Breakdown Not disclosed |
| Payout ratio | 30 Approximately % |
| Acquisition of treasury shares | The company plans to conduct flexible share repurchases based on its financial soundness, capital efficiency and other factors. The repurchase limit, number of shares and period are not disclosed |
| Capital expenditures | ¥48,620 million |
| New initiatives | Fare revision by Keihan Electric Railway, New store openings in the retail business, Construction of new rolling stock, Renovations, etc. |
Items this document does not state (13)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookMedium-term management plan targetsOrders 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.For the fiscal year ending March 2026, revenue and profit increased due to business land sales in Keihanna Science City by the real estate business, the effect of the Osaka-Kansai Expo on the leisure and services and transportation businesses, and fare revisions by Keihan Electric Railway. For the fiscal year ending March 2027, revenue and profit are expected to decline due to the reversal of business land sales in the real estate business and the Osaka-Kansai Expo effect across the businesses in the previous fiscal year.
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.