Hankyu Hanshin Holdings Group
Supplementary Materials ofFinancial Results for the First Quarterof Fiscal 2023 (Ending March 2023)
August 3, 2022
Hankyu Hanshin Holdings, Inc.
9042 https://www.hankyu-hanshin.co.jp/en/

Business forecasts and other projections herein are based on information available at present and logical assessments and do not
represent any promise by the Company. The actual results may differ significantly from these projections due to various factors.

Consolidated Statements of Income(Summary)
Q1 FY2023Results

FY2022
Results

Consolidated Subsidiaries
Equity-Method AffiliatesTotal

98 companies
11 companies
109 companies

98 companies
11 companies
109 companies(¥ million)

Q1 FY2023
Results

Q1 FY2022
Results

Revenue from operations
Operating income

228,993
24,425

ChangeChange151,977 +77,016 （4,761 +19,663 （ ＋412.9% ）Non-operating income

3,931

2,424+1,506

Non-operating expenses

2,592

2,546+45

Ordinary income

25,763＋50.7% ）Remarks
For details,
please see next page
Equity in income of affiliates +1,250

4,639 +21,123 （ ＋455.3% ）Extraordinary income

840

33,442-32,602

Gain on contributions for construction -26,573
Gain on sale of investment securities -3,180
Employment adjustment subsidies -2,858

Extraordinary loss

845

32,043-31,198

Loss on reduction of property and equipment-26,599
COVID-19-related losses -4,668

Net income attributable toowners of the parent

16,826Q1 FY2023
Results（Reference）

3,204 +13,621 （ ＋425.1% ）Q1 FY2022
Results

ChangeDepreciation and amortization

15,135

13,835+1,300Financial balance ① - ②-1,527-1,608+80

Interest and dividend income①554

532+21

Interest expense②

2,081

2,140-581

Consolidated Statements of Income (Breakdown for each business segment)[Key results in current period]
Revenues and income increased, with Urban Transportation and many other segments seeing areasonable recovery from the COVID impact.
(¥ million)

Revenue from operations
Q1 FY2023
Results

Q1 FY2022
Results

Urban Transportation

45,65537,245

Real Estate

60,841Entertainment

Operating income
Q1 FY2023
Results

Q1 FY2022
Results+8,4106,832-534+7,367

48,658+12,182

5,300

3,768+1,531

22,89816,607+6,290

7,832

3,967+3,864

Information and Communication
Technology12,530

14,285-1,755

258

939-681

Travel

41,3383,092+38,245

3,554-3,765+7,320

InternationalTransportation

43,69829,461+14,237

1,911

1,651+260

Other

9,955

10,262-306-2

34-37

Adjustment-7,924-7,635-289-1,262-1,299+37

228,993

151,977+77,016

24,425

4,761+19,663

Total

ChangeChange（Note）
In Q1 FY2023, we consolidated the Hotels segment into the Real Estate segment, making Hotels a sub-segment of Real Estate. This change brings
the number of reportable segments down from seven to six: Urban Transportation, Real Estate, Entertainment, Information and Communication
Technology, Travel, and International Transportation. To enable year-on-year comparisons, we have applied this change retroactively to thecomparative period (Q1 FY2022).

2

Recovery from Covid by Segment
Extent of recovery in Q1 FY2023

Assumptions for full-year performance

・Revenue from other (non-season) tickets (see P6)
・Revenue from other (non-season) tickets (see P6)
started to gradually recover at the start of the period. will gradually recover. From January 2023, theIn June 2022, it was just shy of 90% of what it was revenue will be over 90% of the result for the samein June 2018.
period in FY2019.

UrbanTransporta
・Throughout the quarter, worker commuter passtion

revenue was around 90% of what it was in Q1(Railway)
FY2019.

・The period-average for student commuter passrevenue was over 90% of the Q1 FY2019 level.

・The impact on worker commuter pass revenue will
persist throughout the period (the revenue will be
85–90% of the FY2019 level).
・The period-average for student commuter passrevenue will be around that of FY2019.

・Regarding accommodation, domestic demand will
start to gradually recover at the start of the period・Regarding accommodation, domestic demand
started to gradually recover at the start of the period. and inbound demand will start to gradually recoverin H2 (for hotels managed directly by Hankyu
Real Estate・In June 2022, domestic demand for hotels managed Hanshin Hotels [excludes hotel locations opened in（Hotel） directly by Hankyu Hanshin Hotels (excludes hotel
FY2020 or later], as of March 2023, domestic
locations opened in FY2020 or later) was arounddemand will be around 90％, and inbound demand
80％ of what it was in June 2018.
will be around 20%, of what it was in the same
period in FY2019).

Travel・We predict that domestic tours will recoversignificantly from the start of the period (full-year・Domestic tours recovered significantly from the start performance will be around that of the FY2019 level).
of the period and reached around that of the Q1・International tours will reopen in H2 and should
FY2019 level.
start recovering around the end of the year (therevenue will be around 15% of the FY2019 level).

Recovery in each segment was broadly in line with initial expectations Q1 FY2023. We are on
course to reaching the full-year forecast for operating income, which is 63 billion yen (2/3 of thepre-COVID level).
3Urban Transportation Results
Revenue and income increased. The railway and automobile businesses experienced areasonable recovery in ridership compared to the slump in the same period last year, whenpeople avoided travel amid a state of emergency.

（\ million）

Q1 FY2023
Results

Q1 FY2022
Results

Change％Revenue from operations

45,65537,245+8,410＋22.6%

Operating income

6,832-534+7,367―[Breakdown by type of business]（\ billion）

Revenue from operations
Q1 FY2023 Q1 FY2022
Results
Results

Operating income

Y on YQ1 FY2023 Q1 FY2022
Results
Results

Y on Y

Railway

33.7

27.4+6.3

8.5

2.8+5.7

Automobile

9.5

7.6+1.9-0.1-1.7+1.6

Retailing

2.9

2.5+0.5

0.3

0.2+0.1

Others1.3

1.8-0.5-0.0-0.0-0.0*Not including head office expenses /adjustments.

4

[Urban Transportation] Railway Performance results
Hankyu Corporation
Fare revenues (¥ million)*
Q1 FY2023
Results

Q1 FY2022
Results

Commuter pass

7,691

7,342+348

Workers

6,520

6,360+160

Students

1,170Other tickets
Total

Passenger volumes (Thousands)*
Q1 FY2023
Results

Q1 FY2022
Results(＋4.7%)

78,81973,710+5,109(＋6.9%)(＋2.5%)

52,91751,667+1,250(＋2.4%)

982+188 (＋19.2%)

25,901

22,043+3,858 (＋17.5%)

13,5299,734+3,794 (＋39.0%)

67,28649,518 +17,768 (＋35.9%)

21,22017,077+4,142 (＋24.3%)

146,106

123,228 +22,877 (＋18.6%)

ChangeChangeHanshin Electric Railway
Fare revenues (¥ million)*
Q1 FY2023
Results

Q1 FY2022
Results

Commuter pass

2,804

2,688+115

Workers

2,494

2,429+65Students309

Other tickets
Total

Passenger volumes (Thousands)*
Q1 FY2023
Results

Q1 FY2022
Results(＋4.3%)

29,35728,160+1,197(＋4.3%)(＋2.7%)

22,96922,523+446(＋2.0%)

259+50 (＋19.3%)

6,388

5,637+751 (＋13.3%)

4,792

3,313

+1,479 (＋44.7%)

25,61818,313+7,305 (＋39.9%)

7,597

6,001

+1,595 (＋26.6%)

54,976

46,473+8,502 (＋18.3%)

ChangeChange＊ 1) Revenue amounts less than one million yen, and numbers of passengers less than one thousand, are omitted.
2) For Hankyu Railway, “other ticket revenue/ridership” includes revenue/ridership associated with the PiTaPa usage sections.
3) Sum of tier 1 and tier 2 railway operators for both Hankyu Corporation and Hanshin Electric Railway

5

[Urban Transportation] Fare Revenues (compared to same period of FY2019 ）《Hankyu Corporation》
The state of emergency

From January 2023, both railway businesses should see other (non season ticket)
revenue recover to over 90% of the result for the same period of FY2019.

Commuter pass

Other tickets

（％）
0.0

△ 20.0△ 40.0△ 60.0△ 80.0《Hanshin Electric Railway》（％）
0.0△ 20.0△ 40.0

△ 60.0△ 80.06

Real Estate Results
Revenue and income increased. Compared to the same period last year, when a state ofemergency prompted some hotels and commercial facilities to temporarily close, the segment
saw a reasonable recovery in hotel accommodation and food/beverage sales and in rent
revenue from commercial facilities in line-side areas.

（\ million）

Q1 FY2023
Results

Q1 FY2022
Results

Change％Revenue from operations

60,841

48,658+12,182＋25.0%

Operating income

5,300

3,768+1,531＋40.7%[Breakdown by type of business]（\ billion）

Revenue from operations
Q1 FY2023 Q1 FY2022
Results
Results

Y on Y

Operating income
Q1 FY2023 Q1 FY2022
Results
Results

Y on Y

Real estate leasing

27.8

23.5+4.3

7.9

7.2+0.7

Real estate sales
and others

30.4

27.4

+3.0

1.8

2.6

-0.8

Hotel

9.2

3.9+5.2-1.8-3.6+1.8*Not including head office expenses /adjustments.

7Entertainment Results
Increase in revenue and income. Compared to the same period last year, when there wererestrictions on events, the sports business saw an increase in attendance for Hanshin Tigers’
regular season games, and the stage business saw an increase in Takarazuka Revue shows.

（\ million）

Q1 FY2023
Results

Q1 FY2022
Results

Change％Revenue from operations

22,89816,607+6,290＋37.9%

Operating income

7,832

3,967+3,864＋97.4%[Breakdown by type of business]（\ billion）

Revenue from operations
Q1 FY2023 Q1 FY2022
Results
Results

Y on Y

Operating income
Q1 FY2023 Q1 FY2022
Results
Results

Y on YSports

13.4

8.3+5.1

5.7

2.7+3.0Stage

9.5

8.3+1.2

2.6

1.6+1.0*Not including head office expenses /adjustments.

8Information and Communication Technology results
Revenue and income decreased. The decrease represents a comedown from the spike in the same
period last year, when the information services and broadcasting and communications businesses wonlarge orders.

（\ million）

Revenue from operations
Operating income

Q1 FY2023
Results

Q1 FY2022
Results

Change％12,53014,285-1,755-12.3%

258

939-681-72.5%

Travel results
Revenue and income increased. The domestic travel business saw strong sales for tours that usedsubsidized discounts for local residents. The result also reflects an increase in orders for non-travelbusinesses such as operation/management of accommodation facilities for COVID patients.

（\ million）

Q1 FY2023
Results

Q1 FY2022
Results

Change％Revenue from operations

41,3383,092+38,245―

Operating income

3,554-3,765+7,320―9

International Transportation results
Revenue and income increased. In air and ocean transport, demand continued tooutstrip supply.

（\ million）

Q1 FY2023
Results

Q1 FY2022
Results

Change％Revenue from operations

43,69829,461+14,237＋48.3%

Operating income

1,911

1,651+260＋15.8%

10Consolidated Balance Sheets

Assets（\ million）

Q1 FY2023
Results

365,811

Noncurrent assets

2,356,898

2,357,030-131

2,708,403

2,722,841-14,438

391,434

426,659

Remarks
Trade receivables -22,969

351,504

Current liabilities

Liabilities

ChangeCurrent assets

Total assets

Net assets

FY2022
Results-14,306 Land and buildings for sale ＋8,199-35,225Q1 FY2023
Results
Dept
Bonds
Commercial paper

Long-term liabilities
Total liabilities

1,386,982

1,380,818+6,163

Interest-bearing debt

802,979 795,213
237,000 237,000
30,00050,00013,892
13,7501,083,873 1,095,965

Change+7,766△0-20,000+142-12,091

Accounts payable -40,320
Advance payments ＋6,925
Long-term deferred contribution for construction＋6,718

1,778,416

1,807,477

Shareholders' equity

854,088843,332+10,756 Payment dividend -6,062

Accumulated othercomprehensive income

29,84227,016+2,826

Non-controlling interests

46,05545,014+1,040Total net assets

929,986

915,363+14,623

32.6%

32.0%+0.6P

Equity ratio-29,061

Lease obligations

FY2022
ResultsNet income attributable to owners of the parent +16,826

11