Nankai Group Integrated Report 2025
Integrated Report
Nankai Electric Railway Co., Ltd.
Nankai Group Integrated Report
2025
Inquiries about this report:
Sustainability Promotion Department, Corporate Strategy Division, Nankai Electric Railway Co., Ltd. 2-1-41 Shikitsu-higashi, Naniwa-ku, Osaka 556-8503, Japan
E-mail: nankai_ir@nankai.co.jp
URL: https://www.nankai.co.jp/en/company.html
Nankai Electric Railway Co., Ltd.
Introduction
Introduction
Messages from Management
Sustainable Growth for the Nankai Group and the Corporate Image in 2050
Clear Path Toward Achieving Nankai's Corporate Image in 2050
Governance Supporting Sustainable Growth
Management Information
Corporate philosophy
CONTENTS
The Nankai Group takes pride in its history as it transforms and advances to a new stage.The Nankai Group creates changes in communities through its corporate strengths.
Ever since our group was founded as the first railway company in Japan to be entirely funded by private capital, the Nankai Group has collaborated for 140 years with the communities and society in the southern Osaka and Wakayama areas while also working to build the transportation network.
Our vision is to work with an entrepreneurial spirit to create DiverCity*in Kansai as we look ahead to the future in 2050.
We are continually taking on new challenges to make this vision a reality. In April 2026, we will spin off the railway business, and Nankai Electric Railway Co., Ltd. will transform into NANKAI Co., Ltd.
We seek to advance to a new stage and achieve significant growth going forward.
The Nankai Group will demonstrate its capabilities as it continually changes and grows.
* DiverCity: A term created by combining Diversity and Diverse City (a city filled with diversity).
Nankai will explore the future with wisdom and vitality.
Description of the cover
Integrated Report 2025
Nankai Group Integrated Report
Nankai Electric Railway Co., Ltd.
The design features a motif based on the letter N, the first letter of NANKAI Co., Ltd., our new company name from April 2026. The two thick diagonal lines in our corporate colors represent our accomplishments as a pioneer among private railway companies and our growth as we move toward the future.
The center of the N is a photo of the scenery in front of the Namba railway terminal. At the center of the photo is the Nankai Building, which has stood for over 90 years since its construction as a station building and has retained its beautiful and captivating design. In front of the Nankai Building is the Namba Hiroba, an expansive space that has been transformed from its original use as a road. The photo also shows many people gathered together and moving to and fro, expressing the new value created by the harmony between the unchanging and the new.
As an integrated lifestyle company that creates the future, we will respond to the trust society bestows upon us and contribute to its development.
We will pursue comfortable living and enriched culture, providing the best services to customers.
With strong vitality and creativity, we will take on the challenges in line with the needs of the new times.
We will create cheerful and lively places for people to work together, capitalizing on each person's wisdom and character.
Group management policies
We will ensure safety and security in all our businesses, including railway services.
We see the preservation of the global environment as our mission and place the environment at the heart of our businesses.
We will conduct fair and healthy corporate activities, complying with the law while recognizing our social responsibilities.
As a community-based company, we will put our customers first and ensure that activities cater to their requirements.
Sustainability Policy
We will create collaboratively and cooperate with various stakeholders, including community residents, local governments and businesses, particularly in the areas along our railway lines. We will also seek both the increase of value as a sustainable company and the realization of a sustainable society by putting our Corporate Philosophy into practice.
Brand slogan
Bound for Good Times
At the Nankai Group, we will connect and spread the joy of relaxation and excitement.
To this end, we will pursue safety, convenience, comfort, and good communication to bring new value and boost customer satisfaction. We will aim to be loved and selected as the Nankai Group, and we will strive to create areas with "Bound for Good Times" along our railway lines, in which people, communities, and lifestyles are optimistic for a better future, and to create areas that are sustainable and realize a bright future.
1 Nankai Group Integrated Report 2025 Nankai Group Integrated Report 2025 2
Introduction
Introduction
Messages from Management
Sustainable Growth for the Nankai Group and the Corporate Image in 2050
Clear Path Toward Achieving Nankai's Corporate Image in 2050
Governance Supporting Sustainable Growth
Management Information
CONTENTS
Contents Introduction
Our History of Value Creation 5
The Nankai Group's Presence 7
The Nankai Group's Strengths, Management Capital, and Value Provided 9
The Nankai Group's Value Creation Story and Process 11
Messages from Management
COO's Message 13
Sustainable Growth for the Nankai Group and the Corporate Image in 2050
Challenges Faced by Kansai and Expectations for Growth in the Kansai Economy 19
What the Nankai Group Can Do to Promote Economic Development
in Kansai 21
Special Feature Discussion to Commemorate the 140th Anniversary of Our Founding
Economic Development in Kansai and Expectations for the Nankai Group: Insight from Shingo Torii, Chairperson of the Osaka Chamber of Commerce and Industry 23
Clear Path Toward Achieving Nankai's Corporate Image in 2050
History of Medium-term Management Plans 27
Overview of the NANKAI Group Medium-term Management Plan 2025-2027 29 Priority strategy 1: Accelerated Expansion of the Real Estate Business 31
Priority strategy 2: Transformation Into a Public Transportation Business
That Paves the Way for the Future 35
Foundation strategy 1: Scaling New Businesses While Continuing to
Explore the Future 39
Foundation strategy 2: Realization of Efforts to Develop the Most Popular Areas Along our Railway Lines, Which Continue to Be Preferred 41
Human Resources Strategy 43
DX Strategy 45
Financial Strategy 47
Promoting Sustainable Management 51
Major initiatives and KPIs linked to materiality 53
Further Seek Safety, Security, and Satisfaction 55
Thriving and Friendly Community Development 57
Achieving an Enriched Life 58
Creating a Future Full of Dreams 59
Creating an Environment in Which Each and Every Employee Can Feel Happiness, Fulfillment, and Growth 61
Contributing to the Preservation of the Global Environment 65
Governance Supporting Sustainable Growth
Message from the CEO and Chair of the Board of Directors 73
Bolstering a Corporate Foundation That Is Sincere and Fair 75
Interview with Outside Directors 87
Editorial policy
Purpose of publication and content of the report
By putting our corporate philosophy into practice, the Nankai Group aims for the increase of value as a sustainable company and the realization of a sustainable society.
In this report, we describe our approach and initiatives regarding value creation in the Nankai Group in a straightforward way to promote understanding among all stakeholders about our roadmap toward sustainable growth and encourage value creation through constructive dialogue using this integrated report.
Key points in the Integrated Report 2025
Overall concept
We view value creation at the Nankai Group as a way to realize our Corporate Image in 2050. To this end, we have positioned information on making steady progress in executing our growth strategy and on governance supporting sustainable growth as core content in this report. We have leveraged our skills in the editorial process to express the energy of the Nankai Group as it continues to evolve in line with the concept of taking pride in our history as we transform and advance to a new stage, as outlined in the Medium-term Management Plan.
Introduction | This section offers an overview of the past, present, and future of the Nankai Group. It describes how the value we provide has evolved along with the times, our current businesses, revenue structure, and presence, as well as our management capital and value creation process. |
Messages from Management | This section features the COO's message, which describes our commitment to realize DiverCity as described in our Corporate Image in 2050, the philosophy of the New Medium-term Management Plan, and the COO's strong desire to change the organization, build a new corporate culture, and steadily carry out proactive and aggressive strategies. |
Sustainable Growth for the Nankai Group and the Corporate Image in 2050 | This section includes a discussion held in commemoration of the 140th anniversary of our founding, joined by the Company's CEO and Shingo Torii, Chairperson of the Osaka Chamber of Commerce and Industry. The discussion touches on topics including the role expected of the Nankai Group against the backdrop of the Kansai economy, which is forecast to undergo major growth going forward. |
Clear Path Toward Achieving Nankai's Corporate Image in 2050 | This section describes the backgrounds and outlines of the four business strategies and three corporate strategies in the New Medium-term Management Plan that began in FY2025 to achieve the Corporate Image in 2050. It also describes the background behind the definition of each element in our materiality that supports sustainable management as well as major activities and KPIs related to each element. |
Governance Supporting Sustainable Growth | This section describes how governance supports value creation at the Nankai Group. This section includes a message from the Chair of the Board of Directors as well as an interview with two Outside Directors and provides an overview of governance reform, the effectiveness of the Board of Directors, and other topics. |
Management Information | This section gives supplementary information that can help in understanding and analyzing the company. |
List of Officers 91
Management Information 93
Information disclosure matrix
Applicable term
FY2024 (April 1, 2024 to March 31, 2025)
Some information, however, is from outside this period.
Issue date
September 2025
Organizations covered
Nankai Electric Railway Co., Ltd. and 54 consolidated subsidiaries
Guidelines referenced
The International Integrated Reporting Framework by the IFRS Foundation
Final Report: Recommendations of the Task Force on Climate-related Financial Disclosures (TCFD)
The Environmental Reporting Guidelines, 2018 Edition by the Ministry of the Environment
Guidance for Collaborative Value Creation by the Ministry of Economy, Trade and Industry
The GRI Sustainability Reporting Standards by the Global Reporting Initiative
Financial Information | Non-financial Information | |||||
Dialogue |
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Reports | Integrated | Report | ||||
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Web | Website | IR Information | Website | Sustainability | ||
Notes on future forecasts
The performance predictions and other details in this report related to the future indicate the judgment of Nankai Electric Railway based on information that is available at the time of writing, so these details may contain risk or uncertainty. Please note that actual business performance may differ from forecasts due to various factors.
3 Nankai Group Integrated Report 2025 Nankai Group Integrated Report 2025 4
Introduction CONTENTS
Our History of Value CreationIntroduction
Messages from Management
Sustainable Growth for the Nankai Group and the Corporate Image in 2050
Clear Path Toward Achieving Nankai's Corporate Image in 2050
Governance Supporting Sustainable Growth
Management Information
Based in Namba, the Nankai Group chiefly serves the southern Osaka and Wakayama region to enrich people's lives in areas along its railway lines through efforts that have helped the company grow together with local communities. In 2025, we celebrate the 140th anniversary of our founding.
With a 140-year history of staying close to changes in the times and people's values, the Nankai Group will continue to be a popular choice as we provide sustainable value going forward.
Our company was founded in 1885 as the first railway company in Japan to be entirely funded by private capital. Through
numerous extensions, mergers, and divisions, we built a transportation network that is irreplaceable for many people who need to reach their destinations. Besides our railway-related ventures, we have also made great strides in developing various businesses (such as our Bus Business, Tramway Business, and Ocean Freight Business) by connecting individual points in communities to form a network of lines within our business area.
We have gone one step further to support wide-ranging "planar" benefits for the areas along our railway lines. These include urban center development in Namba Parks, large-scale residential area development in suburban areas along our railway lines, community revitalization projects carried out in collaboration with local governments and companies along our railway lines, and other initiatives that utilize the ample resources and human networks in the area. The Nankai Group places a strong focus on safe and secure mobility services as it continues to make people's lives more convenient through a wide range of businesses. Seeking to solve social issues and realize an enriched, sustainable society that exudes the "Bound for Good Times" philosophy for a better future, we drew from our roots within the local communities that have been built through our continual support for people, towns, and lifestyles over the last 140 years.
1885 - 1950s -
1945(From our founding until the end of WWII) 1980s
Social trends
1990s2000s 2010s
2020s -Private capital employed to build railway networks in line with the development of modern industry
The value we provide
Built an extensive railway network spanning from southern Osaka to Wakayama, serving as the foundation for local modernization
The precursor to our company was founded by
19 people, including Jutaro Matsumoto, a
Rapid economic growth following World War II; increasingly diverse lifestyles
Development of a wide range of businesses in the areas along our railway lines and enrichment of people's lives
In line with the diversification in people's lifestyles, we executed many large-scale projects
Rapid change at the end of the 20th century: opening up to the world with the opening of Kansai International Airport
Opened the Airport Line to serve as a bridge connecting Kansai with the world
In 1994, we opened the Airport Line to provide access to the newly opened Kansai International Airport. We also started service for our iconic
Decline in the productive population, maintenance of road networks, and adverse conditions for the railway business
Created liveliness through redevelopment in Namba and overcame the aftereffects of Japan's economic bubble bursting as we took on challenges for the future
We completed our Namba district redevelopment
Growth in inbound tourism, Osaka selected for EXPO 2025, and vitality for the Kansai economy
Grew with a glocal* perspective and created appeal for the areas along our railway lines
We captured demand from overseas tourists, brought the Semboku Rapid Railway into our group, opened NAMBA SkyO, and carried out
The COVID-19 pandemic brought significant changes to people's lives and values regarding mobility
Seeking to realize an enriched and sustainable society with the Spirit of Nankai's collaborative creation (Kyoso)
The future is uncertain in a post-COVID world. In light of this, we established our Corporate
prominent figure in Osaka's business community.
in rapid succession alongside initiatives to
Limited
Express
Rapi:t. This line triggered
project, which had been underway for many
various other activities as we grew together
Image in 2050 to fulfil our responsibility to
After launching a service between Namba and
develop our transportation network, such as
development in the areas along our railway
years. Namba Parks saw its grand opening at
with the local area. We continue to play a role
continue
providing
our
services.
Going
Sakai (Yamatogawa) in 1885, this organization
engaging in large-scale
residential
area
lines with a view toward increasing exchange
this time, giving a major boost to development
of linking the areas along our railway lines with
forward, we aim to obtain the most popular
expanded its lines across southern Osaka and
development
in suburban
areas along
our
with the world.
in the Minami area of Osaka. We overcame
many people both in Japan and abroad, as
areas along
railway
lines and
realize a
Wakayama. The pioneering spirit, strong
railway lines, opening shopping centers, and
many challenges amidst a harsh business
well as reinforcing connections with people
sustainable society under the
banner of
vitality, and enterprising attitude from that time still remain at our company.
managing leisure centers. Ever since then, we have helped to develop the areas along our railway lines through our diverse businesses and have continually supported people's lifestyles.
landscape, such as the decrease in railway passenger numbers and the fall in land prices. We have used these experiences to fuel growth in the next generation.
and the areas along our railway lines.
* Glocal is a term created by combining global and local that describes thinking and acting from a global
perspective while taking the characteristics of the local area into account.
collaborative creation with stakeholders.
The original Namba Station Kita Osaka Truck Terminal Building No. 1
1885
Opened a line spanning 7.6 km between Namba and Yamatogawa
1950
Built Osaka Stadium as the home ballpark for the Nankai Hawks professional baseball team
1994
Opened the Airport Line to link Kansai International Airport with Namba
2003
Opened Namba Parks with the concept of the city, people, and nature coexisting in harmony
2014
Acquired all Osaka Prefectural Urban Development stock and brought it into the Group as Semboku Rapid Railway
2020
Promoted functionality enhancements of logistics facilities
1936
Deployed Japan's first-ever air-conditioned train car
1978
Opened Namba CITY and entered the real estate and distribution businesses
1995
Our iconic Limited Express Rapi:t won a Blue Ribbon Award
2004
Koyasan, which is in one of the areas along our railway lines, was registered as a World Heritage Site.
2018
Opened NAMBA SkyO as a hub for international exchange
2024
Tsutenkaku Kanko Co., Ltd. became a Group company.
5 Nankai Group Integrated Report 2025 Nankai Group Integrated Report 2025 6
Introduction CONTENTS
The Nankai Group's PresenceIntroduction
Messages from Management
Sustainable Growth for the Nankai Group and the Corporate Image in 2050
Clear Path Toward Achieving Nankai's Corporate Image in 2050
Governance Supporting Sustainable Growth
Management Information
Nankai Electric Railway runs two major lines: the Nankai Line connecting Namba with Senshu and Wakayama and the Koya Line to the Koyasan World Heritage Site. In addition to our railway business, we leverage these lines to support people's everyday
Segment operating revenue and operating income (in FY2024)
* The percentages represent the ratios to operating revenue and operating income, including those from intersegment transactions.
lives as an essential company for the local area through many different projects, including shopping centers and housing development.
Osaka Prefecture Tokushima Prefecture
Construction Business
18.4%
54,030 million yen
Leisure and
Services Business
15.5%
45,545 million yen
Distribution Business
Operating revenue
260,787
million yen
Other Business
1.3%
3,694 million yen
Transportation
Business
38.3%
112,738 million yen
Real Estate Business
Construction Business
7.0%
2,459 million yen
Leisure and Services Business
9.5%
3,344 million yen Distribution Business
Operating income
34,655
million yen
Other Business
0.2%
88 million yen
Transportation
Business
37.7%
13,261 million yen
Real Estate Business
Wakayama Prefecture
Shiomibashi
Sakai
Hamadera-Ekimae Takashinohama
Kishiwada
Namba
Ebisuchō Tennoji-Ekimae
Hankai Tramway
Nakamozu
Transportation Business 36 companies | |
| Operating kilometers Number of passengers Number of cars Number of stations on railroads transported per year 169 km 240,567thousand 820 105 |
Real Estate Business 5 companies | |
| Size of major rented office Size of rented Number of built-for-areas in the Namba area logistics facilities sale condominiums Approx. 90,000m2 Approx. 450,000m2 118 |
Distribution Business 9 companies | |
| Namba CITY Namba Parks Sales Number of customers Sales Number of customers going through cashiers going through cashiers 41.6 billion yen 12.01 million 29.3 billion yen 7.01 million |
Leisure and Services Business 21 companies | |
| enNumber of customers er Number of customers Number of funeral halls tering Tsutenkaku Tow visiting Boat Race Suminoe 1.32 million 1.06 million 17 |
Construction Business 4 companies | |
| Monetary amount of orders received Monetary amount of orders received for construction works for civil engineering works (Nankai Tatsumura Construction Group) (Nankai Tatsumura Construction Group) 54.8 billion yen 11.8 billion yen |
The world's gateway to Kansai at the Namba terminal station
9.8%
28,879 million yen
16.7%
49,087 million yen
10.4%
3,657 million yen
35.2%
12,365 million yen
Kansai International Airport, one of Japan's major
international airports
Image courtesy of Kansai Airports
Kawachinagano Izumi-chuo
Mozu-Furuichi Kofun Group, a World Heritage Site
Kansai-Airport
Izumisano
Osaka Prefecture
Kada
Tanagawa
Misakikoen
Wakayama Prefecture
Hashimoto
Koyasan, a World Heritage Site
Wakayamashi
Wakayamako
Kada, a historic port town that was also mentioned in the Manyoshu
Gokurakubashi Koyasan
Nankai Electric Railway Co., Ltd. (the Company) is included in duplicate in the Transportation, Real Estate, Distribution, and Leisure and Services segments. Semboku Rapid Railway Co., Ltd. is included in duplicate in the Transportation and Real Estate segments.
The Nankai Group is comprised of six segments, namely the five segments given above and Other Business (seven companies). It consists of 78 companies: Nankai Electric Railway Co., Ltd., 54 consolidated subsidiaries, 17 non-consolidated subsidiaries, and six non-equity method affiliates.
Nankai Electric Railway Co., Ltd. and Semboku Rapid Railway Co., Ltd. merged on April 1, 2025.
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Corporate profile (as of March 31, 2025)
Company name Founded
Registered Head Office Share capital
Number of employees
Nankai Electric Railway Co., Ltd. December 27, 1885
2-1-41 Shikitsu-higashi, Naniwa-ku, Osaka 556-8503, Japan
72,983 million yen
2,717 (non-consolidated); 9,247 (consolidated)
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Disclaimer
Nankai Electric Railway Co. Ltd. published this content on December 24, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on December 24, 2025 at 15:25 UTC.
