Niigata kotsu Co., Ltd.

The Real Estate Business achieved net sales of ¥2,712 million, operating income of ¥1,011 million, and an operating margin of 32.4% in FY2026 (ending March 2026). Both leasing income and parking income increased year on year, aided by increased percentage rent from the attraction of 6 new stores and an increase in monthly parking contract holders. Bandai City, a commercial complex with a history spanning over half a century, forms a revenue base that is difficult for competitors to replicate.

The 7 businesses—Transportation, Real Estate, Merchandise Sales, Travel, Inn, Air Agency, and Other—mutually provide customers, facilities, and services to one another. Intra-group synergies, such as the creation of travel products through collaboration between the Chartered Bus and Travel Business, and the provision of cleaning and advertising services to group facilities, support the earnings of each segment and diversify the risk of dependence on a single business.

The Air Agency Business achieved net sales of ¥799 million, operating income of ¥222 million, and an operating margin of 27.7% in FY2026 (ending March 2026). A change in the airport handling services contract with an airline contributed to an increase in contracted fee income, resulting in year-on-year increases in both sales and profit. As a business rooted in the regional infrastructure of Niigata Airport with high barriers to entry, it maintains stable, high profitability.

Continued demand stimulation through initiatives such as "App Bus Free Day" leveraging the smartphone app "Ryuuto Link" and collaboration with local government, while optimally allocating limited driver resources through timetable revisions (implemented 3 times during the period) based on usage conditions. New community bus routes were opened in mountainous areas (June 2025) and fare revisions were implemented on Sado Island (October 2025).

Increased percentage rent and parking revenue through new tenant recruitment at the Bus Center Building and Billboard Place Building (6 new stores during the period), along with continued weekend events and sales promotion campaigns. Segment profit for FY2026 (ending March 2026) reached ¥1,011 million, up 12.7% year on year, functioning as the largest profit-contributing segment in the Group.

Retail segment revenue increased due to the effect of the expansion of an existing store in August 2025. Sales of souvenirs to wholesale customers such as Niigata Airport, Niigata Station, highway service areas, and locations within Sado City grew, resulting in Merchandise Sales Business revenue of ¥2,665 million (up 6.9% year on year), the highest revenue growth rate among all segments.

Implemented an increase in the number of overnight guests through packaged tours at Kokusai Sado Kanko Hotel Hachimankan, and revised prices at in-house restaurants at Bandai Silver Hotel. Overall Inn Business revenue reached ¥1,773 million (up 5.6% year on year), and segment profit reached ¥112 million (up 49.3% from ¥75 million in the previous period), a significant improvement.

Redeemed ¥3,500 million in corporate bonds to extend and stabilize the maturity profile of interest-bearing debt, while issuing ¥1,938 million in new corporate bonds. The equity ratio improved to 35.5% (from 33.7% in the previous period). For FY2027 (ending March 2027), a conservative operating profit forecast of ¥1,500 million has been set in anticipation of cost increases such as driver shortages and rising fuel costs. Cost management is the most critical challenge for the next fiscal year.