Tobu Railway Co., Ltd.

Equities

9001

JP3597800006

Passenger Transportation, Ground & Sea

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-04-26 am EDT			5-day change	1st Jan Change
3,158 ^JPY	0.00%		-1.71%	-16.65%

Feb. 08	Tobu Railway Raises Fiscal-Year Guidance as Nine-Month Profit, Revenue Jump	MT
Feb. 07	Tobu Railway Co., Ltd. Revises Consolidated Earnings Guidance for the Full Fiscal Year Ending March 31, 2024	CI

Tobu Railway : 2Q FY2023 Financial Results Briefing

November 16, 2023

2Q FY2023

Financial Results Briefing

November 17, 2023

TOBU RAILWAY CO., LTD.

Table of Contents

Ⅰ . 2Q FY2023 Business Results

Ｐ０２

Ⅱ. FY2023 Full Year Forecast

Ｐ１２

Ⅲ. Achieving Medium-term Business Plan Ｐ２１

All rights reserved. Copyright © TOBU RAILWAY CO.,LTD.	1

Ⅰ．2Q FY2023 Business Results ― Subsidiaries・Affiliates

Subsidiaries	March	Increase	Decrease	September	Notes
	2023			2023

Transportation	27	-	-	27
					July,2023.
Leisure	16	-	1	15
					Decrease in liquidation conclusion Tiramisu Holdings Co.,Ltd.
Real Estate	3	-	-	3
Retail Distribution	8	-	-	8

Other	15	-	-	15

Total	69	-	1	68


Affiliates	March	Increase	Decrease	September	Notes
	2023			2023
Transportation	1	-	-	1

Leisure	2	-	-	2
Real Estate	-	-	-	-

Retail Distribution	-	-	-	-

Other	-	-	-	-

Total	3	-	-	3

Ⅰ．2Q FY2023 Business Results ― Consolidated statement of income

Unit: Millions of yen	2Q FY2023	2Q FY2022	Change	Notes
Results	Results

				Transportation	+10,047
Operating revenues	308,582	285,422	23,160	Leisure	+10,237
Real Estate	+2,095
				Retail Distribution +1,332
				Other	+1,742

				Transportation	+6,611
Operating profit	39,087	24,097	14,990	Leisure	+4,873
Real Estate	+955
				Retail Distribution +1,161
				Other	+1,807

Ordinary profit	38,200	23,151	15,049

Extraordinary income	627	5,315	-4,687
Extraordinary losses	1,093	8,085	-6,991

Profit attributable to	26,375	13,030	13,344
owners of parent

2Q FY2023	Change
Plan

297,000 11,582

25,000 14,087

23,000	15,200

-	-
-	-

15,500	10,875

Ratio of Operating profit to Sales

Depreciation

EBITDA

Capital Expenditures

12.7%	8.4%	4.3P	8.4%	4.3P

25,713	26,436	-722	-	-

64,801	50,533	14,267	-	-
14,574	18,244	-3,670	-	-

* Numbers for plan come from announcement made on April 28, 2023. (p.3-p.19)

Ⅰ．2Q FY2023 Business Results		― Segment Profit

Unit: Millions of yen	2Q FY2023		FY2022	Change	2Q FY2023	Change
Results		Results		Plan

Operating revenues	103,461	93,414	10,047
Transportation

Operating profit	16,288	9,676	6,611

Operating revenues	92,380	82,142	10,237
Leisure
Operating profit	13,195	8,322	4,873

Operating revenues	27,766	22,671	2,095
Real Estate

Operating profit	6,052	5,096	955

Operating revenues	82,698	81,365	1,332
Retail Distribution
Operating profit	1,831	669	1,161

Operating revenues	38,371	36,628	1,742
Other

Operating profit	2,362	555	1,807

100,200 3,261

10,500 5,788

84,400 7,980

8,800 4,395

22,900 1,866

4,300 1,752

83,000 -302

200 1,631

38,500 -129

1,400 962

Ⅰ．2Q FY2023 Business Results ― Consolidated balance sheet

Unit: Millions of yen	2Q FY2023	FY2022	Change	Notes
Results	Results

Current assets

Non-current assets

178,242 206,090 -27,847

1,544,373

1,532,105

12,268

Total assets

1,722,616

1,738,195

-15,579

Current liabilities Non-current liabilities

445,938	459,439	-13,500
762,522	798,181	-35,658

Total liabilities

1,208,460 1,257,620 -49,159

Total net assets

514,155

480,575

33,580 Retained earnings+23,305

Total liabilities and net assets

1,722,616

1,738,195

-15,579

Equity ratio

Interest-bearing debt balance

29.5%	27.3%	2.2P

772,339	795,502	-23,162

Ⅰ．2Q FY2023 Business Results	― Consolidated statement of cash flows

	Unit: Millions of yen	2Q FY2023	2Q FY2022	Change	Notes
	Results	Results

	Cash flows from operating activities	35,475	45,660	-10,184	Decrease in account payable -9,775
					Increase in expenditures for purchase of fixed
	Cash flows from investing activities	-29,126	-27,852	-1,273
					assets -5,820
					Decrease in procurement of interest-bearing
	Cash flows from financing activities	-26,665	-10,425	-16,239
					debt -15,543
	Change in cash and	-20,279	7,466	-27,745
	cash equivalents

	Ending balance of cash and
48,794	53,351	-4,557
	cash equivalents

Ⅰ．2Q FY2023 Business Results	― Transportation

	Unit: Millions of yen	2Q FY2023	2Q FY2022	Change		Notes	2Q FY2023	Change
	Results	Results			Plan

Operating revenues	103,461	93,414	10,047

Railways	77,801	69,623	8,178
Other	25,660	23,791	1,868	Bus and taxi business +1,370
				Freight business	+486
Operating profit	16,288	9,676	6,611

Railways	14,502	8,961	5,540
Other	1786	715	1,071	Bus and taxi business +1,187
				Freight business	-116

100,200 3,261

75,700 2,101

24,500 1,160

10,500 5,788

9,600 4,902

900	886

Depreciation

EBITDA

Capital Expenditures

15,296	15,391	-94

31,585	25,067	6,517

7,830	7,490	340

-	-
-	-
-	-

Tobu Railway Lines	2Q FY2023	2Q FY2022		2Q FY2023
Number of Passengers
Results	Results		Plan
(Unit: 1 Million people)


Commuter Passengers	270	262	264

Non-Commuter Passengers	154	140	148

（LimitedExpress）	3	2	3

Total	425	402	412

Tobu Railway Lines	2Q FY2023	2Q FY2022		2Q FY2023
Passenger Revenue
Results	Results		Plan
(Unit: Millions of yen)


Commuter Passengers	30,386	28,139	30,113

Non-Commuter Passengers	39,682	33,877	37,914
（LimitedExpress）	2,964	2,145	2,716

Total	70,068	62,016	68,027

* Non-commuter passenger revenue includes limited express fee and seat reservation fees.

Ⅰ．2Q FY2023 Business Results ― Leisure

Unit: Millions of yen	2Q FY2023	2Q FY2022	Change		Notes
Results	Results

Operating revenues	92,380	82,142	10,237

Travel	67,034	64,034	2,999

Hotel	12,577	8,135	4,442

SKYTREE	7,350	4,739	2,611
Other	5,417	5,233	183	Amusement parks and tourism +91
Sports	+114

Operating profit	13,195	8,322	4,873

Travel	7,858	8,408	-549

Hotel	1,258	-2,186	3,445

SKYTREE	3,406	1,367	2,038
Other	672	732	-60	Amusement parks and tourism -107
Sports	+46

2Q FY2023	Change
Plan

84,400	7,980

62,000	5,034
10,800	1,777
6,000	1,350
5,600	-183

8,800	4,395

6,400	1,458
-400	1,658
2,000	1,406
800	-128

Depreciation

EBITDA

Capital

Expenditures

2,746	3,213	-466	-	-

15,942	11,535	4,406	-	-
2,089	957	1,132	-	-

Number of visitors
2Q FY2023	2Q FY2022
（Unit: 1 Million	Results	Results
people）

SKYTREE	221	112

2Q FY2023

Plan

166

Main Hotels	2Q FY2023	2Q FY2022		2Q FY2023		Main Hotels	2Q FY2023	2Q FY2022
		Percentage of
Occupancy Rate	Results	Results		Plan		foreign nationals	Results	Results

CY Ginza	13.0%	49.9%		12.5%		CY Ginza	76.9%	20.5%
AC Ginza	85.5%	36.3%	84.8%		AC Ginza	70.9%	23.9%
Kinshicho	87.0%	59.0%	81.2%		Kinshicho	73.9%	4.7%
Narita	81.8%	93.6%	80.8%		Narita	61.4%	13.7%

All rights reserved. Copyright © TOBU RAILWAY CO.,LTD.	※CY Ginza Accommodation Department will Close for renovation from May to November.	8

Ⅰ．2Q FY2023 Business Results ― Real Estate

Unit: Millions of yen	2Q FY2023	2Q FY2022	Change	Notes
Results	Results

Operating revenues	24,766	22,671	2,095

Real Estate leasing	17,276	16,179	1,097

SKYTREE TOWN	6,151	5,233	918
Real Estate subdivision	1,338	1,258	80

Operating profit	6,052	5,096	955

Real Estate leasing	4,055	3,840	215

SKYTREE TOWN	1,862	1,110	752
Real Estate subdivision	133	145	-12

2Q FY2023	Change
Plan

22,900	1,866

16,300	976
5,500	651
1,100	238

4,300	1,752

3,400	655
1,000	862
-100	233

Depreciation

EBITDA

Capital Expenditures

5,164	5,138	26	-	-

11,216	10,234	982	-	-
2,666	7,989	-5,323	-	-

Number of visitors	2Q FY2023	2Q FY2022	2Q FY2023
(Unit: 10,000 people)	Results	Results	Plan

SKYTREE TOWN	1,838	1,453	1,614

Number of Units Sold	2Q FY2023	2Q FY2022
Unit:1unit	Results	Results

Detached houses	14	3

Condominiums	69	63

Number of Units Sold
After Converting Share

2Q FY2023

Plan

Detached houses	7	3	3
Condominiums	27	25	28

All rights reserved. Copyright © TOBU RAILWAY CO.,LTD.	9

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Tobu Railway Co. Ltd. published this content on 17 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 November 2023 09:23:11 UTC.

Latest news about Tobu Railway Co., Ltd.

Tobu Railway Raises Fiscal-Year Guidance as Nine-Month Profit, Revenue Jump	Feb. 07	MT
Tobu Railway Co., Ltd. Revises Consolidated Earnings Guidance for the Full Fiscal Year Ending March 31, 2024	Feb. 07	CI
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Tobu Railway Co., Ltd. Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2024	Nov. 02	CI
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Tranche Update on Tobu Railway Co., Ltd.'s Equity Buyback Plan announced on February 8, 2023.	23-02-08	CI
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Tranche Update on Tobu Railway Co., Ltd.'s Equity Buyback Plan announced on October 31, 2019.	20-02-04	CI
Tobu Railway Co., Ltd.'s Equity Buyback announced on October 31, 2019 has expired with 2,498,200 shares for ¥9,999.76 million.	20-01-23	CI
Tranche Update on Tobu Railway Co., Ltd.'s Equity Buyback Plan announced on October 31, 2019.	20-01-14	CI

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Company Profile

Tobu Railway Co., Ltd. specializes in railway transportation services. The group is also developing retail, leisure centers operating and real estate promotion activities. Net sales break down by activity as follows: - retail distribution (38.8%); - railway transportation services (28.5%): detention, at the end of March 2021, of a network of 463.3 km of railway lines. Tobu Railway Co is also providing transportation by bus and taxi services; - development and promotion of real estate assets (9.7%); - leisure centers and hotels operating (7%); - other (16%).

Sector

Passenger Transportation, Ground & Sea

Calendar

2024-04-29 - Q4 2023 Earnings Release

Related indices

Nikkei 225

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Ratings for Tobu Railway Co., Ltd.

Trading Rating

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ESG Refinitiv

D+

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Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

3,158 JPY

Average target price

4,075 JPY

Spread / Average Target

+29.04%

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