HANATOUR JAPAN CO.,LTD.
6561・Growth Market・Services
Business
HANATOUR JAPAN Co., Ltd. is an inbound-focused group company whose parent company is HANATOUR SERVICE INC. (holding 54.4% of voting rights), South Korea's largest travel company, and which provides one-stop travel arrangement, chartered bus, and hotel operation services for foreign tourists visiting Japan. In the Travel Business, the company arranges group tours from Korea, Southeast Asia, and Europe/US, and operates "Gorilla," an online platform for FIT (Foreign Independent Travelers). Subsidiary Yuai Kanko Bus Co., Ltd. operates chartered and shuttle buses from four bases in Tokyo, Osaka, Hokkaido, and Fukuoka, while Allegro X TM Hotel Management Co., Ltd. operates four T-Mark City Hotel locations. A Vietnamese subsidiary handles system development for the group. For FY2025 (ending December 2025), consolidated net sales reached ¥7,180 million and operating profit reached ¥1,998 million, both setting new record highs.
Business Model
The Travel Business adopts a net method of recording revenue as the difference (net amount) between gross transaction value and procurement cost, achieving a high profit margin (38.9%). The Bus Business levels out utilization by combining inbound chartered tour demand with stable demand from shuttle services for airline crew and factory workers. The Hotel Business achieved a segment profit margin of 24.5% by improving ADR and occupancy rate simultaneously through OTA partnerships. Through the collaboration of these three businesses, travel arrangement, transportation, and accommodation are handled in-house, forming a structure that maximizes order-taking opportunities and profitability across the entire group.
Company Strengths
The company has built a vertically integrated model that completes travel arrangement, chartered bus, and hotel operation within the group. The three segments—Travel Business (profit margin 38.9%), Bus Business (22.9%), and Hotel & Facility Operation Business (24.5%)—work together, and the in-house structure for capturing inbound demand serves as a key differentiator from competitors.
In FY2025 (fiscal year ended December 2025), operating profit was ¥1,998 million (up 15.3% year on year) and ordinary profit was ¥1,939 million (up 18.0% year on year), both marking record highs. Operating profit has expanded for three consecutive fiscal periods since FY2023, and the gross profit margin remains at a high level of 79.6% (gross profit of ¥5,717 million divided by net sales of ¥7,180 million).
The number of foreign visitors to Japan in 2025 reached a record 42.68 million (up 15.8% year on year). The company's three core businesses are all directly linked to inbound demand: in the Hotel & Facility Operation Business, ADR rose 12% to 18% year on year, and profit in the Bus Business reached a record high, among other benefits, allowing the company to directly enjoy the tailwinds from market expansion.
ENVALITH's Perspective
Performance Trend
Revenue expanded rapidly from ¥864 million in FY2021 to ¥7,180 million in FY2025, but the full-year FY2026 forecast stands at ¥7,131 million (down 0.7% year on year), marking the first projected revenue decline. Operating profit is also forecast to decline, from ¥1,998 million in FY2025 to a full-year FY2026 forecast of ¥1,800 million (down 9.9% year on year). However, 1Q FY2026 results set new quarterly record highs, with revenue of ¥1,774 million (up 1.7% year on year), operating profit of ¥496 million (up 0.6% year on year), and net income of ¥449 million (up 7.0% year on year). External factors—including the Chinese government's travel restraint requests, escalating tensions in the Middle East, and the European economic slowdown—are pushing up travel costs and dampening travel sentiment, and downward pressure on the market environment continues. Meanwhile, the number of inbound visitors to Japan reached a cumulative record high of 10.68 million in 1Q FY2026 (up 1.4% year on year), indicating that the expansionary trend in the inbound market remains intact.
Growth Strategy
Aiming to become a travel platform company through strengthened system investment to capture FIT demand and geographic diversification of demand
The company continues to expand the product lineup and API partnerships of "Gorilla," an online platform that leverages API integration with major overseas booking sites to expand its handling of hotel and in-destination products. Although transaction volume struggled in 1Q FY2026 (ending March 2026) due to the impact of conditions in China and the Middle East, the company aims to capture medium- to long-term individual travel demand.
A Vietnamese subsidiary is developing a new platform aimed at supporting the planning and sales of inbound FIT (individual travelers) demand. As of 1Q FY2026 (ending March 2026), progress was disclosed as being on schedule, and expansion of transaction volume and improvement in profit margins are expected following its release. The specific launch timing and scale have not been disclosed.
The company is strengthening its capture of demand from Korea, Taiwan, Southeast Asia, and Europe, the US, and Australia, thereby reducing risks associated with dependence on China and the Middle East. In 1Q FY2026 (ending March 2026), solid group tour demand from Korea and Southeast Asia helped offset the impact from the Middle East and Europe (via routes transiting the Middle East). Geographic diversification of demand is progressing steadily.
The company is promoting digitalization of operation management in the Bus Business, optimization of staffing in indirect departments, and digitalization of internal operations across the group. Amid the industry-wide shortage of drivers, the company is working to strengthen its revenue base through productivity improvements alongside enhanced recruitment activities.
T-Mark City Hotel Sapporo ceased operations as planned on March 15, 2026, and demolition work began on April 1. Through repurposing of the facility and improved asset efficiency, the company aims to improve profitability across its hotel business portfolio.
Last updated: July 17, 2026