TOBU RAILWAY CO.,LTD.
9001・Prime Market・Land Transportation
Governance
The Board of Directors consists of 9 members, including 4 outside directors (approximately 44% outside ratio). As a company with a Board of Corporate Auditors, the company has adopted an executive officer system to separate the decision-making and oversight functions of the Board of Directors from business execution. A Nomination and Compensation Committee (advisory body) and a Governance Committee chaired by an outside director have been established to ensure independence and transparency.
Risk Management
The company has established a multi-layered risk management framework consisting of the Crisis Management Committee, Compliance Committee, Information Security Committee, and Sustainability Promotion Committee, with each committee chair reporting on activities to the Governance Committee. Climate change risk is quantitatively assessed through SSP scenario analysis (physical risk and transition risk) and managed in coordination with the Crisis Management Committee.
Shareholder Returns
Annual dividend for FY2026 (ending March 2026) is ¥70 per share (interim ¥32.50 + year-end ¥37.50), with a payout ratio of 24.7%. For FY2027 (ending March 2027), a dividend of ¥75 (interim ¥37.50 + year-end ¥37.50) is planned. During the medium-term management plan period, strategic shareholder returns will be implemented with a focus on maintaining DOE of 2.2% or higher. Share buybacks are also being continued (¥10,470 million in the current period).
Dividend Policy
The basic policy is to pay stable dividends, giving comprehensive consideration to business performance and the operating environment while maintaining financial soundness. Dividends are paid twice a year (interim and year-end). The annual dividend for FY2026 (ending March 2026) is ¥70 per share (interim ¥32.50 + year-end ¥37.50), with total dividends of ¥13,743 million and a payout ratio of 24.7%. For FY2027 (ending March 2027), a dividend of ¥75 per share (interim ¥37.50 + year-end ¥37.50) is planned. During the medium-term management plan period (FY2024–FY2027), strategic shareholder returns will be implemented with a focus on maintaining DOE of 2.2% or higher. The company aims to maintain and improve ROE at 8% or higher over the medium to long term.
ESG
As a climate change countermeasure, the company will effectively reduce CO2 emissions from train operations across the entire Tobu Line to zero starting April 2026, and aims to reduce group-wide CO2 emissions by 30% by FY2030 compared to FY2022 levels. In terms of human capital, the company has implemented a variety of initiatives, including extending the retirement age to 65, promoting DE&I, and being certified as an Excellent Health Management Corporation (Large Enterprise Category) for five consecutive years. The company discloses Scope 1 emissions of 104 thousand t-CO2 and Scope 2 emissions of 364 thousand t-CO2 for FY2025.
Last updated: July 15, 2026