Hankyu Hanshin Holdings, Inc.
9042・Prime Market・Land Transportation
Urban Transportation
Group foundation segment centered on Hankyu and Hanshin railways, also operating automobile and distribution businesses
| Period | Current | Previous | Change |
|---|---|---|---|
| Operating Revenue (full year) | ¥214,293 million (¥209,018 million to external customers) | ¥205,177 million (¥199,833 million to external customers) | ↑ |
| Segment Profit (full year) | ¥35,298 million | ¥35,135 million | ↑ |
| Segment Assets (end of period) | ¥919,291 million | ¥891,624 million | ↑ |
| Depreciation (full year) | ¥29,475 million | ¥27,115 million | ↑ |
| Increase in Tangible and Intangible Fixed Assets (full year) | ¥47,217 million | ¥48,698 million | ↓ |
Business Details
Comprises the Railway Business operated by Hankyu Railway, Hanshin Electric Railway, Nose Electric Railway, Kita-Osaka Kyuko Railway, and Kobe Rapid Transit Railway, the Automobile Business operated by Hankyu Bus, Hanshin Bus, and others, and the in-station Distribution Business. Its main customers are residents along the railway lines in the Kansai region and inbound visitors to Japan. The segment provides safe, secure, and comfortable transportation services while serving as the foundational business that supports the enhancement of value along the railway lines for the Group as a whole.
Recent Overview
Revenue increased on Expo and inbound demand capture, but profit growth was marginal
In the Urban Transportation segment for FY2026 (ending March 2026), passenger volume increased against the backdrop of the Osaka-Kansai Expo and expanding inbound demand, with operating revenue to external customers rising ¥9,185 million (4.6%) year on year to ¥209,018 million. Meanwhile, segment profit increased only slightly, up ¥163 million (0.5%) year on year to ¥35,298 million, as an increase in depreciation associated with higher capital expenditure (up ¥2,360 million year on year) restrained profit growth. Hankyu Railway expanded PRiVACE operating trains by approximately 1.5 times to enhance value-added revenue.
Key Products
Growth Drivers
- Increase in non-commuter passenger volume driven by the Osaka-Kansai Expo and expanding inbound demand
- Creation of value-added revenue through the expansion of PRiVACE reserved-seat service operations (approximately 1.5 times)
- Manufacture of new rolling stock and service expansion at Hanshin Electric Railway ahead of the planned spring 2027 introduction of a reserved-seat service
- Improved safety and convenience through the promotion of movable platform gate installation and other measures utilizing the railway station barrier-free fee system
- Improved profitability in the Automobile Business through route bus fare revisions
- Future expansion of business areas through initiatives in next-generation mobility, such as autonomous EV bus demonstration tests
Risks
- Risk of long-term decline in commuter pass revenue due to population decline along the railway lines associated with the falling birthrate and aging population
- Rising depreciation and capital costs due to increased capital expenditure for railway station barrier-free improvements and movable platform gate installation
- Risk of rising labor costs due to tight labor supply and demand
- Risk of a sharp decline in passenger demand due to large-scale natural disasters or infectious disease outbreaks
- Risk of increased interest payment expenses on interest-bearing debt due to rising interest rates
- Risk of a rebound decline in passenger demand due to the disappearance of special demand after the conclusion of the Osaka-Kansai Expo
Last updated: June 17, 2026