阪急阪神ホールディングス posted record profit for the fiscal year ended March 2026. Contributions from the real estate business, Expo 2025 Osaka-Kansai demand and the Hanshin Tigers’ championship provided tailwinds, while the share price remained in the ¥4,400 range.
阪急阪神ホールディングス’ share price rose from the ¥4,100 range after the end of 2025 and remained in the ¥4,500 range after the end of April, but the closing price was in the ¥4,400 range as of September 2026. The stock was affected by both the reaction to its record profit and uncertainty in the market.
For the fiscal year ended March 2026, consolidated operating revenue reached a record ¥1.2035 trillion, up 8.7% year on year, operating profit was ¥127.1 billion, up 14.7%, ordinary profit was ¥124.5 billion, up 12.0%, and net income attributable to owners of the parent was ¥78.5 billion, up 16.5%. The main factors behind the increase in profit were growth in real estate sales revenue, the capture of Expo-related demand and strong performance in the sports business.
Under the plan for the fiscal year ending March 2027, operating profit is expected to decline 4.3% to ¥121.7 billion, ordinary profit 8.5% to ¥114 billion, while net income is expected to rise 0.6% to ¥79 billion. Growth is based mainly on a substantial increase in earnings from real estate, while the contribution from temporary factors is expected to decline.
By segment, real estate made the largest contribution, with operating profit of ¥67.1 billion, followed by urban transportation at ¥35.2 billion. Condominium sales showed notable growth, while urban transportation posted lower profit in the first quarter of fiscal 2027 and some travel and sports businesses rose or fell. The consolidated operating margin remained at 10.6%, above the median for the land transportation industry.