TOBU RAILWAY CO.,LTD.
9001・Prime Market・Land Transportation
Transportation
Core segment of the Tobu Group, operating railway, bus, and taxi businesses.
| Period | Current | Previous | Change |
|---|---|---|---|
| Operating revenue (segment total) | ¥218,646 million | ¥216,054 million | ↑ |
| Segment profit (operating profit) | ¥27,644 million | ¥31,285 million | ↓ |
| Operating revenue from external customers | ¥216,011 million | ¥212,313 million | ↑ |
| Depreciation and amortization | ¥32,740 million | ¥31,942 million | ↑ |
| Segment assets | ¥1,045,821 million | ¥1,003,199 million | ↑ |
| Increase in property, plant and equipment and intangible assets | ¥66,264 million | ¥57,377 million | ↑ |
| Impairment loss | ¥0 million | ¥2 million | ↓ |
Business Details
Centered on Tobu Railway (463.3km of operating route), this segment comprises 31 companies including Asahi Motor and the Tobu Bus Group (bus & taxi), and Tobu Transportation (freight). It handles commuter and tourist transport in the northern Tokyo metropolitan area and northern Kanto region, promoting both commuter and non-commuter passenger transport, as well as tourism inbound to the Nikko and Kinugawa areas via limited express trains and other services. In FY2026 (ending March 2026), operating revenue was ¥218,646 million and operating profit was ¥27,644 million.
Recent Overview
Revenue increased, but operating profit declined 11.6% year-on-year due to increased personnel and repair expenses.
In FY2026 (ending March 2026), the Transportation segment achieved increased revenue, with operating revenue of ¥218,646 million (up 1.2% year-on-year), driven by a recovery in commuter usage and an increase in non-commuter passenger volume, particularly during long holiday periods. On the other hand, despite efforts to reduce costs through labor-saving and efficiency measures, increased personnel expenses due to improved compensation and increased repair expenses due to rising prices pressured profit, resulting in a significant decline in operating profit to ¥27,644 million (down 11.6% year-on-year). The segment advanced efforts to establish a sustainable business operation system, including the start of one-man operation on the Tobu Skytree Line local trains and the introduction of facial recognition ticket gates on the Tobu Utsunomiya Line.
Key Products
Growth Drivers
- Increase in commuter passenger volume due to recovery in commuter usage
- Expansion of non-commuter passenger volume due to increased leisure travel during Golden Week, autumn foliage season, etc.
- Promotion of tourism to the Nikko, Kinugawa, and Ryomo areas through special operation of limited express trains including the "SPACIA X"
- Improved convenience and demand capture through timetable revisions on the Tobu Skytree Line, Nikko Line, and other lines
- Improved cost structure through labor-saving and efficiency measures such as one-man operation and facial recognition ticket gates
- Improved revenue per unit through route bus fare revisions
- Future competitiveness enhancement through demonstration testing of next-generation transportation such as autonomous driving and EV buses
Risks
- Risk that rising personnel expenses due to price increases and improved compensation, along with increased repair expenses, will continue to pressure profit
- Rising costs of maintaining operations and services due to expanding labor shortages
- Interest rate risk (due to the nature of the railway business, large balances of long-term borrowings and corporate bonds mean that rising interest rates increase financial expenses)
- Structural risk of declining commuter passenger revenue due to the medium- to long-term decline in population along the railway lines
- Profit pressure from increased depreciation expenses accompanying capital expenditure progress (explicitly cited as a cost increase factor in the forecast for FY2027 ending March 2027)
- Risk of a sharp decline in transportation demand due to natural disasters, infectious diseases, etc.
Last updated: July 15, 2026