Mie Kotsu Group Holdings, Inc.
3232・Prime Market・Real Estate
Transportation
Transportation segment centered on bus and taxi operations based in Mie Prefecture
| Period | Current | Previous | Change |
|---|---|---|---|
| Operating revenue (segment total, after elimination of internal transactions) | ¥26,542 million | ¥24,242 million | ↑ |
| Operating profit (segment profit) | ¥1,240 million | ¥518 million | ↑ |
| Operating margin | 4.7% | 2.1% | ↑ |
| Depreciation and amortization | ¥1,139 million | ¥1,092 million | ↑ |
| Segment assets | ¥57,185 million | ¥51,692 million | ↑ |
| Increase in tangible and intangible fixed assets | ¥1,866 million | ¥1,620 million | ↑ |
| Fixed-route bus passenger volume | 40,579 thousand persons | Up 2.2% year on year | ↑ |
| Chartered bus passenger volume | 2,199 thousand persons | Up 11.8% year on year | ↑ |
Business Details
Comprises bus companies including Sanco Bus Co., Ltd. and Sanko Taxi Co., Ltd. The segment operates diverse transportation services including fixed-route buses, chartered buses, taxis, contracted passenger transportation, freight, and automobile maintenance. Centered on the fixed-route bus network within Mie Prefecture, it also handles transportation to tourist destinations and contracted operations for companies and municipalities, supporting the foundation of regional public transportation. The fare revision implemented in December 2024 and the capture of demand related to the World Expo contributed significantly to earnings improvement, and operating profit for the current fiscal year achieved a substantial improvement of up 139.6% year on year.
Recent Overview
Fare revision, World Expo demand, and improved driver staffing combined to drive a sharp recovery, with operating profit up 139.6% year on year
For FY2026 (ending March 2026), Transportation segment operating revenue was ¥26,542 million (up 9.5% year on year), and operating profit showed substantial improvement at ¥1,240 million (up 139.6% year on year). Three factors contributed jointly: the unit price increase from the fixed-route bus fare revision implemented in December 2024, the rise in chartered bus unit prices and utilization rates from event transportation related to the World Expo, and improved utilization from progress in staffing taxi drivers. While fixed-route bus actual operating distance was 26,795 thousand km (down 3.3% year on year), reflecting progress in route efficiency improvements, passenger volume and revenue maintained an increasing trend.
Key Products
Growth Drivers
- Full-year contribution from the unit price increase effect of the fixed-route bus fare revision implemented in December 2024
- Capture of chartered bus demand related to the Osaka-Kansai World Expo (April to October 2025) and the resulting rise in unit prices and utilization rates
- Improved utilization rate and increased passenger revenue from progress in staffing taxi drivers
- Favorable trend in transportation demand at tourist destinations such as Ise City and expansion of inbound demand
- Improved cost structure through route efficiency improvements (reduction in actual operating distance)
- Enhanced service convenience and customer acquisition through the introduction of contactless credit card payments, etc.
Risks
- Structural decline in fixed-route bus ridership due to the declining birthrate, aging population, and population decrease
- Chronic labor shortage of drivers and crew members, and rising recruitment and wage costs
- Pressure on earnings from increased costs such as fuel and vehicle maintenance expenses
- Risk of a rebound decline in chartered bus revenue following the disappearance of temporary event demand such as the World Expo (from FY2027 (ending March 2027) onward)
- Impact on the business model from new technologies and regulatory changes such as autonomous driving and ride-sharing
- Stagnation of travel and tourism demand due to deteriorating consumer sentiment amid rising prices
Last updated: June 17, 2026