Keifuku Electric Railroad Co.,Ltd.
9049・Standard Market・Land Transportation
Transportation Business
The Group's largest revenue base segment, responsible for transportation infrastructure in Kyoto and Fukui
| Period | Current | Previous | Change |
|---|---|---|---|
| Operating revenue (external customers) | ¥7,889 million | ¥7,829 million | ↑ |
| Operating revenue (segment total, including intersegment) | ¥7,912 million | ¥7,853 million | ↑ |
| Operating income (segment income) | ¥480 million | ¥420 million | ↑ |
| Segment assets | ¥13,586 million | ¥13,060 million | ↑ |
| Depreciation and amortization | ¥1,056 million | ¥973 million | ↑ |
| Increase in tangible and intangible fixed assets (capital expenditure) | ¥1,518 million | ¥1,353 million | ↑ |
Business Details
Comprises the Railway Business (Arashiyama Line, Cable Line, Aerial Ropeway), Bus Transportation Business (Kyoto Bus Co., Ltd. and Keifuku Bus Co., Ltd.), and Taxi Business (Keikan Kotsu Co., Ltd. and Fukui Kotsu Co., Ltd.). In the Kyoto area, the segment is centered on the Arashiyama Line, which primarily serves inbound tourism demand, while in the Fukui area it operates highway buses and taxis. Operating revenue from external customers for FY2026 (ending March 2026) was ¥7,889 million, accounting for approximately 53% of the Group's total, making it the largest segment.
Recent Overview
Revenue increased on solid tourism demand on the Arashiyama Line; operating income rose sharply, up 14.3% year on year
Operating revenue for the Transportation Business in FY2026 (ending March 2026) was ¥7,912 million (up ¥58 million, or 0.7%, year on year), and operating income was ¥480 million (up ¥59 million, or 14.3%, year on year). Tourist usage on the Arashiyama Line remained solid, contributing to increased revenue. Fares were revised on the Cable Line and Aerial Ropeway. Meanwhile, Kyoto Bus Co., Ltd. saw revenue decline due to reduced service caused by driver shortages and a decrease in Chinese tourists. In the Fukui area, extended operation to the Kansai Expo venue performed well, but order restraint in the chartered bus division continued.
Key Products
Growth Drivers
- Solid trend in tourism demand in the Kyoto Arashiyama area, driven mainly by inbound visitors
- Enhanced brand image and passenger attraction through the introduction of additional Mobo 1 KYOTRAM vehicles and joint promotional activities with three companies (Kaohsiung Metro and Enoshima Electric Railway)
- Increased revenue from Fukui-area highway buses due to extended operation of the Nagoya Line and Kyoto-Osaka Line highway buses to the Osaka-Kansai Expo venue
- Improved revenue from the fare revision on the Cable Line and Aerial Ropeway (implemented April 2025)
- Improved convenience and future business foundation through the introduction of the smartphone commuter pass 'iCONPASS' and participation in the on-demand autonomous driving demonstration 'e-Taxi Plus'
Risks
- Serious shortage of bus and taxi drivers, constraining the maintenance and expansion of services, with continued order restraint mainly in the chartered bus division
- Increased depreciation and amortization (up ¥83 million year on year to ¥1,056 million) due to expanded capital expenditure (additional new vehicles, facility renewal work, etc.), pressuring profits
- Risk of fluctuations in inbound demand from specific countries and regions, such as the decrease in Chinese tourists (a factor in Kyoto Bus Co., Ltd.'s second-half revenue decline)
- Risk of rising operating costs due to inflation and higher energy costs
- Risk of sudden changes in tourism demand due to natural disasters, infectious diseases, etc. (the Kyoto area is highly dependent on inbound demand)
Last updated: June 22, 2026