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富士急行株式会社 logo

FUJI KYUKO CO., LTD.

9010・Prime Market・Land Transportation

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富士急行株式会社 logo
FUJI KYUKO CO., LTD.9010

Transportation

Core group segment operating railway, bus, and marine transportation, and ropeway services centered on the Mt. Fuji and Hakone areas

PeriodCurrentPreviousChange
Operating revenue (segment total, including internal transactions)¥20,551 million¥19,756 million↑
Operating profit¥5,054 million¥4,698 million↑
Operating margin24.6%23.8%↑
Segment assets¥23,416 million¥21,603 million↑
Depreciation¥1,619 million¥1,629 million↓
Railway passenger volume (total)4,407 thousand people4,338 thousand people (derived from 1.6% year-on-year increase)↑

Business Details

Comprises the railway business operated by Fujisan Panoramic Ropeway Electric Railway (Mt. Fuji Mountain Railway, Otsuki–Kawaguchiko, 26.6km), scheduled/highway/chartered bus operations, hire car & taxi services, marine transportation on Lake Ashi and the Atami–Hatsushima route, and ropeway operations. The segment serves both inbound tourism demand and local transportation needs, with cross-referral synergies with the group's Leisure & Service businesses forming the revenue base. In FY2026 (ending March 2026), operating revenue was ¥20,551 million and operating profit was ¥5,054 million, making it the highly profitable segment accounting for approximately 57% of the group's total operating profit.

Recent Overview

Buses and marine transportation led growth on rising inbound demand, with both operating revenue and profit increasing year on year

In FY2026 (ending March 2026), Transportation segment operating revenue was ¥20,551 million (up 4.0% year on year), and operating profit was ¥5,054 million (up 7.6% year on year). The bus business contributed the largest revenue increase, up 5.2% year on year. The marine transportation business also performed well, up 7.7%. In the railway business, passenger volume increased 1.6%, but passenger transportation revenue declined 1.9%. Value-enhancing initiatives were advanced, including the launch of new direct bus routes, vessel renewals, and the introduction of timed-entry tickets for ropeways.

Key Products

service
Railway Business

In FY2026 (ending March 2026), passenger volume was 4,407 thousand people (up 1.6% year on year). Non-commuter passengers totaled 3,316 thousand and commuter pass holders totaled 1,091 thousand. Total passenger transportation revenue was ¥2,482,181 thousand (down 1.9% year on year). Efforts focused on creating buzz, including special trains commemorating the 75th anniversary of the opening of the Mt. Fuji Station–Kawaguchiko Station section, holding the "Fujikyu Train Festival," and launching new rolling stock themed on the "Kaiju Sentai Highlander" tokusatsu series. Discounts on school commuter passes (for high school students and younger) were also implemented.

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Bus Business

Operating revenue for FY2026 (ending March 2026) was ¥13,673,852 thousand (up 5.2% year on year). The Bus Ta Shinjuku–Fuji Five Lakes route and the Mishima Station–Kawaguchiko Station express bus performed well. A new direct route between Bus Ta Shinjuku and Fuji-Q Highland was launched. Transportation capacity was strengthened through the launch of a direct scheduled bus to Oshino Hakkai, increased frequency of the Lake Saiko loop bus, and the launch of a direct bus between Mishima Station and Fujinomiya Fifth Station.

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Marine Transportation Business

Operating revenue for FY2026 (ending March 2026) was ¥1,170,362 thousand (up 7.7% year on year). On the Atami–Hatsushima route ("Hatsushima Resort Line"), an existing vessel was substantially refurbished and relaunched as "Kinpa Ginpa." On the Hakone/Lake Ashi sightseeing boat service, an existing vessel was renewed as "Hakone Yusen Odaikai," and together with the "Hakone Yusen SORAKAZE," which entered service in February 2024, efforts were made to enhance appeal centered on Japanese cultural experiences for foreign visitors.

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Ropeway Business

Operating revenue for FY2026 (ending March 2026) was ¥1,020,541 thousand (down 0.3% year on year). Efforts were strengthened around timed-entry ticket sales and combination ticket sales with nearby tourist facilities and transportation services to ease congestion and improve visitor circulation.

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Hire Car & Taxi Business

Operating revenue for FY2026 (ending March 2026) was ¥1,603,026 thousand (up 3.0% year on year). The business captures regional tourism and business demand, securing stable revenue.

Growth Drivers

  • Expanding tourism demand driven by the continued increase in inbound visitors to Japan
  • Expanded revenue opportunities from new and increased highway bus routes (e.g., Bus Ta Shinjuku–Fuji-Q Highland direct service)
  • Enhanced value and visitor appeal through renewal investment in ropeways and marine vessels
  • Development of new routes such as the Mishima Station–Fujinomiya Fifth Station direct bus, driven by rising demand for climbing Mt. Fuji
  • Boosted transportation demand through cross-referral synergies with group Leisure & Service facilities

Risks

  • Rising operational maintenance costs and risk of route reductions due to shortages of drivers and crew
  • Risk of service suspensions and facility damage from natural disasters (typhoons, heavy snow, earthquakes, etc.)
  • Increased fuel and electricity costs due to persistently high prices and energy costs
  • Suppressed tourism demand due to tightening administrative regulations aimed at addressing overtourism
  • Fluctuations in inbound demand due to heightened geopolitical risk and changes in US trade policy

Last updated: June 15, 2026