Hankyu Hanshin Holdings

https://www.hankyu-hanshin.co.jp/en/

2021

Hankyu Hanshin Holdings Group Management Philosophy

What we try to achieve

MissionBy delivering “Safety and Comfort” and “Dreams and Excitement”,
we create satisfaction among our customers and contribute to society.

What is important to us

Values

1 Customer First

Everything we do is for the customer. That’s where it all starts.
2 Sincerity

Gain customers’ confidence by always being sincere.
3 Foresight & Creativity

With our pioneer spirit and flexible thinking, we create a new value.
4 Respect for People

Everyone is absolutely invaluable to the Group.

How to act to uphold our values and fulfil our mission

Principles

1 We treasure encounters with people, and do our best in the position of a customer.
2 We abide by laws and regulations, and act with a clear awareness of our social responsibilities.
1

Message from the Top Management

In October 2006, Hankyu Hanshin Holdings was established as a result of the management integrationof Hankyu Holdings and Hanshin Electric Railway. Since then, the Hankyu Hanshin Holdings Grouphas worked in unison to heighten the competitiveness of each business. At the same time, the Grouphas used its collective strength to increase its overall profitability and grow its earnings. In conjunction
with these efforts, we have steadily improved our financial position.
Amid this process of strong commitment, we formulated the Hankyu Hanshin Holdings Group
Long-Term Management Vision for 2025 (fiscal 2026) in 2017, with the aim of achieving sustainablegrowth in a society that is undergoing and will continue to undergo change. Since then, we havedevoted Group-wide efforts to implementing various measures in line with the strategies defined in
the Long-Term Vision. However, the COVID-19 pandemic has dramatically accelerated changes inthe business environment of the Group, including a decline in travel due to the spread of remote workand other factors, and the increased presence of cyberspace. These rapid changes require us to survive
the coming era by responding appropriately to environmental changes that have occurred since theformulation of the Long-Term Vision, such as changes in consumer behavior driven by the pandemic,
digital transformation (DX) triggered by the progress of digitalisation, increased momentum for work
style reforms, and growing trends towards the achievement of the Sustainable Development Goals(SDGs), including the realisation of carbon neutrality. Based on this recognition, we will strive for theGroup’s sustained growth while promoting corporate management in view of the new normal.
In addition, in May 2020, the Group released the Hankyu Hanshin Holdings Group Sustainability
Declaration, which outlines the Group’s commitment to addressing various challenges in order to help
realise a sustainable society. From now on, we will continue to promote sustainable corporate
management based on the Declaration in order to further accelerate the Group’s ESG (Environmental,
Social, and Governance) initiatives. We will also solve social issues through our business with the aimof continuously increasing the Group’s corporate value.
Going forward—adhering to our Group Management Philosophy—we will drive Group-wide growth
while building relationships of trust with our customers and local communities. At the same time, theHankyu Hanshin Holdings Group will unite to advance initiatives that meet the expectations of all
stakeholders. As we move forward, we ask our stakeholders to continue to support us in our
endeavours.
July 2021

3 We take pride and responsibility in our work, and carry it out promptly.
1
4 We are not concerned with what is just before us, but think from medium- and long-term perspectives.
1
5 We are not satisfied with present conditions, but fix our eyes on the future and act.
1
6 We have caring feelings and respect each other.
1
7 We communicate in a lively way and create a workplace with a positive atmosphere.
1
8 We cooperate with one another for the prosperity of the Group.
1

1 Group Guide 2021

Kazuo Sumi

Chairman and Representative Director,
Group Chief Executive Officer

Takehiro Sugiyama

President and Representative Director

2

The Group’s History

Group Overview

HankyuHanshin1899 〉Founding of Settsu Electric Railway(currently Hanshin Electric Railway Co., Ltd.)

1907 〉Founding of Minoh-Arima Electric Railway Company(currently Hankyu Corporation)

1905 〉Beginning of railway operations(Kobe [Sannomiya]–outer Osaka [Deiribashi])1909 〉Launch of land and buildings leasing business1910 〉Beginning of railway operations(Completion of 30 rental houses in front ofNishinomiya Station)(Takarazuka Line [Umeda–Takarazuka] and Minoh Line
[Ishibashi–Minoh])〉Beginning of real estate sales business(Beginning of sales of Ikeda Muromachi Residential Land Plots)

1913 〉Formation of Takarazuka Girls’ Revue(currently Takarazuka Revue Company)

1914 〉Implementation of Takarazuka Revue’s

1924 〉Opening offirst performance

Koshien Stadium(Later renamed Hanshin
Koshien Stadium)

1926 〉Opening of old Takarazuka Hotel(End of operations in March 2020;
Relocation and reopening in June 2020)

1929 〉Completion of Umeda Hankyu Building(Opening of Hankyu Department Store,
Asia’s first railway terminal
department store)

1933〉Opening of Hanshin Mart at Hanshin Umeda Station(Full-scale entry into retail business in a terminal)(Closing in September 1941)〉Completion of
Sannomiya Hanshin
Building(Lease to Kobe Sogo
Department Store;
Full-scale entry into building
leasing business)

1935 〉Establishment of Osaka Baseball Club

(Osaka Tigers, currently Hanshin Tigers)

Our corporate group supports people’s lives, colours their lives,and proposes enriched lifestyles.
Throughout its long history of over 100 years, the Hankyu Hanshin Holdings Group has continued to offer unprecedented services in a
broad range of fields, from the railway business as its basis to the development of houses and commercial facilities and the provision ofthrilling entertainment, such as that provided by the Hanshin Tigers baseball team and the Takarazuka Revue. We have thereby
contributed to high-quality community building, primarily in line-side areas, and have brought a new perspective to society,accumulating many achievements. Through these activities, we have continued to deliver our customers “Safety and Comfort” tosupport their lives and “Dreams and Excitement” to colour their lives.
We will continue to provide high-quality services through the concerted efforts of the Group, leveraging our brand that has been
nurtured over time and our know-how of community building.

Questionnaire about Areas to Live

Customer Satisfaction Survey(in the Kansai Region)

In the Japanese Customer Satisfaction Index,* Hankyu
Corporation has been ranked first in the suburban railway
category (industry) for 12 consecutive years, from FY2010
to 2021, since the survey began.
The same index also ranked Takarazuka Revue Company
first among all 422 surveyed companies/ brands from 36
industries in the overall annual rankings in FY2019. The
Group has thus earned great public recognition in terms ofcustomer satisfaction.
* JCSI is the largest-scale customer satisfaction survey in Japan,
conducted by Service Productivity & Innovation for Growth (SPRING)
under the Japan Productivity Center to evaluate companies and brands
using statistical techniques based on responses from over 130,000 users.

With convenience provided by railway
networks between main cities in the
Kansai region and abundant living
infrastructure, the areas along theGroup’s railway lines are highly rated
by people as areas where they wish to
live. Our power to enhance the value ofline-side areas is among our strengths.

1st : Nishinomiya-kitaguchi
2nd : Shukugawa
3rd : Umeda/Osaka
4th : Okamoto
5th : Mikage* Questionnaire survey conducted on MAJOR7 (a website run by sevenmajor Japanese real estate companies) in September 2020

1937 〉Beginning of business on Mt. Rokko(Opening of Rokkosan Country House)

1947〉Separation of department store sector and related businesses
to establish Hankyu Department Stores, Inc.

1948 〉Launch of airline agency business

1940 〉Opening of Hanshin Mart
1948

(Conclusion of Japan’s first agency
agreement with Pan American Airways)(later renamed Hanshin Department Store;
currently Hanshin Department Store Umeda Main Store)〉Launch of airline agency business1950 〉Approval as IATA air cargo agency〉Approval as Japan’s first
IATA air cargo agency

1952 〉Establishment of Hankyu Realty Co., Ltd.

(currently Hankyu Hanshin Properties Corp.)

1960 〉Establishment of Hankyu Express International Co., Ltd.
(currently Hankyu Travel International Co., Ltd.)

2004 〉Entry into real estate investment trust (REIT) business1967 〉Opening of Hotel Hanshin (currently Hotel Hanshin Osaka)
1991 〉Opening of urban-type CATV ‘Channel Wave Amagasaki’2006 〉Conclusion of master license agreement of Billboard brand2006 Establishment of Hankyu Hanshin Holdings, Inc.
2007 〉Beginning of issuance of ‘STACIA’, a new Group card
common to Hankyu and Hanshin

2008〉Establishment of Hankyu Hanshin Hotels Co., Ltd.
(Hankyu Hotel Management Co., Ltd., Hotel Hanshin Co., Ltd., andHotel Hanshin Restaurant Systems Co., Ltd. merged and renamed)〉Establishment of Hankyu Express Co., Ltd.
(Through a spin-off of international shipping business of theformer Hankyu Travel Co., Ltd.)2009 〉Establishment of Hankyu Hanshin Express Co., Ltd.

(Hankyu Express Co., Ltd. and Hanshin Air Cargo Co., Ltd.
merged and renamed)Core Businesses and Companies
We have core businesses in seven business domains: Urban Transportation, Real Estate, Entertainment, Information and Communication
Technology, Travel, International Transportation, and Hotels. Further, under the direction of the Company, which supervises the Group’s
management, these businesses are operated by six core companies: Hankyu Corporation, Hanshin Electric Railway Co., Ltd., Hankyu
Hanshin Properties Corp., Hankyu Travel International Co., Ltd., Hankyu Hanshin Express Co., Ltd., and Hankyu Hanshin Hotels Co.,
Ltd. Through these core businesses and companies, we will foster organic growth across the entire Group.

Core Business Segments

Hankyu Hanshin Holdings
Urban
Transportation

Real Estate

Information andCommunication
Technology

TravelInternational
Transportation

HotelsHankyu Travel
International

Hankyu Hanshin
Express

Hankyu Hanshin
HotelsHankyu Corporation *Hankyu Hanshin
Properties
Hanshin Electric Railway *(As of 1st April 2021)* As for our Real Estate Business, Hankyu Corporation and Hanshin Electric Railway collaborate with
Hankyu Hanshin Properties to promote urban development of real estate owned by Hankyu Corporation andHanshin Electric Railway for rent and development in cooperation with transportation networks,
local governing bodies and others in Umeda and their line-side areas.

Consolidated Performance Trends
FY2017FY2018FY2019FY2020

FY2021

Revenues from operations (¥billion)

736.8

760.3

791.4

762.7

568.9

Operating income (¥billion)

104.1

105.2

114.9

95.2

2.1

2018 〉Establishment of Hankyu Hanshin Properties Corp.

(Real estate business of Hankyu Corporation andHanshin Electric Railway Co., Ltd.
transferred to Hankyu Realty Co., Ltd., which was renamed)

Entertainment

In fiscal 2021, the Group’s consolidated revenues from operations and operating income fell significantly due to the massive impact of the COVID-19
pandemic on many of the Group’s businesses, including the urban transportation, hotels, entertainment, real estate, and travel businesses.

3 Group Guide 2021

4

Hankyu Hanshin Holdings Group Sustainability Declaration

In May 2020, the Hankyu Hanshin Holdings Group released the Hankyu Hanshin Holdings Group Sustainability Declaration,
which outlines the Group’s commitment to addressing various challenges in order to help realise a sustainable society.

SDGs related to the priority issues

General Principles

Create a future grounded in "Safety and Comfort", anda future coloured by "Dreams and Excitement".
For over a hundred years, we have sought to cultivate communities and enrich lives.
Leveraging this experience, we commit ourselves to addressing social and environmental challenges and working toward asustainable future, one that offers a fulfilling, joyful life to all and inspires the next generation to dream with hope.

Providing sustainable public transportation andpublic space accessible to anyone, improving
the quality of sustainable and disaster-resilient
infrastructure, etc.

Securing housing, green spaces, and public spaces
accessible to anyone, promoting sustainableurbanization, protecting cultural and natural heritage,
supporting connections between urban and rural areas,
conserving marine and land ecosystems, etc.

Safe, reliableinfrastructure

Improving job satisfaction and productivity regardlessof gender, age, disability, etc., creating a safe andsecure work environment, ensuring opportunities for
women's participation and leadership, improving thequality of education for the next generation, etc.

Thriving
communities

Life designs
for tomorrow

Disseminating sustainable lifestyle, promoting an
understanding of cultural diversity and providing
education on it, promoting local culture andsustainable tourism, promoting innovation, etc.
Empowering
individuals

Environmental
protection

Robustgovernance

Priority issues (materiality matrix) Six priority issues to address as part of our sustainable business practices
Safe, reliableinfrastructure
Provide railways and otherinfrastructure that are safe anddisaster-resilient. Ensure that anyone
can safely access our facilities andservices.

Help build sustainable communities
with rich natural and cultural
heritage, making great places to live
in, work in, and visit.

Promote refined and inspired lifestylesolutions for a better tomorrow.

Contribute toward a low-carbon,
circular economy.

■ Employee satisfaction：Always better than in previous survey *■ Women in management positions：Around 10% in FY2031■ Women among new hires：Always more than 30%■ Percentage of specific health guidance provision：More than 60％（FY2026）■ Smoking prevalence：Less than 15％（FY2026）* The survey is conducted biennially.

5 Group Guide 2021

Winning the SDG Partnership Award (Special Award)
at the 4th Japan SDG Awards

Robust governance

Facilitating the rule of law, developing accountable
and transparent organizations, making
stakeholder-focused decisions, promoting
government-industry-civil society partnerships, etc.

Winning the Minister of Education, Culture, Sports,
Science and Technology Award (Best Award) in the
FY2021 for Recognising Companies That Offer
Activities for Young People
The Hankyu Hanshin Holdings Group won the Minister of Education,
Culture, Sports, Science and Technology Award (Best Award) in the
FY2021 in recognition of our activities for young people: the Hankyu
Hanshin Dreams and Communities Challenge Troop, a hands-on
learning programme for primary school children organised by theGroup; and the Hankyu Dreams and Communities Exciting Work
Programme, an extension class programme targeting primary schools
offered by Hankyu Corporation.

Act honestly and in good faith, as
stakeholders expect us to do.

Major non-financial KPIs
■ Zero culpable incidents in our railway business

External evaluation

The Hankyu Hanshin Holdings Group won the SDG Partnership Award(Special Award) at the 4th Japan SDG Awards, organised by theJapanese Ministry of Foreign Affairs, in commendation for the
initiative of Hankyu Corporation and Hanshin Electric Railway tooperate the Dreams and Communities of the Future SDGs Trains.

Environmental
protection

Empowering
individuals
Provide an inclusive workplace thatvalues diversity and taps into
individual talent. Cultivate
tomorrow’s leaders for society.

Life designs for
tomorrow

Thriving communities

Strengthening resilience and adaptability to climatechange, improving energy efficiency, expanding
renewable energy, controlling waste generation andpromoting recycling, reducing food loss, etc.

Hankyu Hanshin Dreams and Communities of the Future Project■ Paternity leave uptake：100％（FY2026）■ Rate of CO2 emissions cuts (target for FY2031 compared to FY2014)
・Cut emissions by 26％ at Hankyu Hanshin Holdings andsubsidiaries' Japanese worksites

・Cut railway energy consumption of Hankyu's and Hanshin's railways

For over 100 years, the Hankyu Hanshin Holdings Group has grown with the local community, primarily in areas
along its railway lines, and built up relations of mutual trust. In April 2009, we launched the Hankyu Hanshin
Dreams and Communities of the Future Project as a community contribution initiative, to ensure that the Groupwill continue to exist and prosper over the next century as a member of the local community.
Basic Policyby 40％
Priority Areas

Centering around our line-side areas, we intend to promote the creation of
towns and cities where people will truly want to live.
Community-based environment-friendly
development

Human capital development for the
next generation

As a Group with strong local roots, we arecommitted to sustainable community building withenvironment-friendly developments that provide
local residents with security, peace of mind, andcultural enrichment.

We are creating opportunities for thehealthy development of ambitious children,
upon whose shoulders the task of building
the communities of the future rests.

6

Urban Transportation

Railway operations

Extensive railway network linking Osaka, Kobe, Kyoto and various other areas in
the Kansai region

Real Estate

These operations form a network in the Kansai area that centres on the railway
lines of Hankyu Corporation and Hanshin Electric Railway. Hankyu
Corporation's railway lines link Osaka (Umeda) with Kobe, Takarazuka, andKyoto. Meanwhile, Hanshin Electric Railway is the only private (non-JR)
railway operator with railway lines that directly link Kobe with Osaka's major
northern and southern terminals, which are Osaka-Umeda and Namba,
respectively. The operating kilometers of Hankyu Corporation and Hanshin
Electric Railway are 143.6 km* and 48.9 km,* respectively.
* Including tier 2 railway operators

Minoh

Kita-senri

Arashiyama

Urban Transportation

Kyotokawaramachi
Ishibashi handai-mae

Awaji

Nishinomiyakitaguchi

HankyuKobe-sannomiya
Shukugawa

HanshinKobe-Sannomiya

KatsuraItami

KoyoenImazu

Tsukaguchi

Juso

Amagasaki

Koshien

Tenjimbashisuji-rokuchome
HankyuOsaka-umeda

Information andCommunication Technology

Connecting railways, buses and taxis to provide a variety oftransportation services that realise safety, reliability and comfort

Entertainment

Takarazuka

Hanshin
Osaka-Umeda

Mukogawadanchi-Mae

By connecting railways, buses and taxis, we have formed a large network centred on two companies—Hankyu Corporation and Hanshin Electric Railway—in the Kansai region, mainly in the Osaka, Kobe and Kyoto areas.
In addition, we are enhancing the value of line-side areas by realising synergistic benefits through the integrated
management of transportation advertising and retail businesses, which run merchandising facilities inside andnear railway stations.

Osaka-Namba

Buses & Taxis

TravelProviding bus and taxi services mainly in areas along the Hankyu and Hanshin Lines incollaboration with railway services
Hankyu Bus and Hanshin Bus offer bus location services that enable real-time
checking of the status of buses operating on routes, and have introduced an
in-house IC passenger card, ‘hanica’, to enhance customers’ convenience.
Moreover, all Hankyu Taxi and Hanshin Taxi cabs accept various forms ofelectronic payment to cater to diversifying payment needs. We are also
promoting eco-driving techniques out of concern for the environment.

International
Transportation

Retailing

Providing retail services inside and near railway stations
Inside and near railway stations on the Hankyu and Hanshin lines, we operate
COLOR FiELD cosmetics and clothing shops, DOUBLEDAY furniture andinterior goods shops, Seijo Ishii franchise supermarkets, and other shops. In
addition, we partner with outside companies to provide a wide selection of shops,
thereby offering greater convenience to customers who use our railway stations.

HotelsAdvertising

Effectively leveraging the vast reach of transportation advertising

7 Group Guide 2021

Group Summary

We provide customers with value-added spaces through a wide line-up ofadvertising, from advertising in trains, terminals, and concourses to digital
signage. Moreover, we effectively leverage our retail business’s contact withcustomers and manufacturers and the vast reach of the transportation
advertising business to promote goods sold in shops inside and near our stations
on transportation advertising media or in event spaces.

8

Urban Transportation

Development

Promoting Diverse Development Projects
That Create Vibrant Communities

Focusing on building attractive towns and cities along railway lines, the Real Estate Business has
shared its growth with the Urban Transportation Business. We develop, lease and administer
commercial facilities and office buildings that create vibrant communities. We also provide quality
residences that match each person’s lifestyle. Further, we are engaged in real estate fundmanagement, which combines the fields of real estate and finance. As the inheritors of urban
development DNA, we are turning future designs into reality.

A rendering of the completed Osaka Umeda Twin Towers South

Leasing

Owning and Managing Numerous Commercial Facilities and Office Buildings andHelping to Develop Appealing Towns
We have many commercial facilities and office buildings, primarily inOsaka-Umeda and areas served by the Hankyu and Hanshin lines,
including the Umeda Hankyu Building, GRAND FRONT OSAKA,HERBIS OSAKA/HERBIS ENT, and Hankyu Nishinomiya Gardens.
We own a total of over 2 million square metres of leasing property*.
We are taking steps to heighten our competitiveness and utilisation
rates through the provision of various services, including the Hankyu
Hashin Odekake Card service which can be used in the Group’s main
shopping centres.
* As of 31st March 2021

HERBIS ENTInformation andCommunication Technology

Contributing to creation of appealing towns andoffering enriched lifestyles

Entertainment

Real Estate

Real Estate

In Osaka-Umeda, we have made steady progress in the Umeda 1-1 Project (Building
name: Osaka Umeda Twin Towers South) towards the completion of the entire
building in 2022. We are also promoting the Umekita Phase II Development Project(tentative name) with a view to prior partial opening (private housing lots and an
urban park) around the summer of 2024, and the opening of the entire Umekita PhaseII Development Project area in FY2028. Moreover, in the area to the southeast ofHankyu Nishinomiya-kitaguchi Station, we are implementing the Hankyu
Nishinomiya Gardens Western-site Development Project (tentative name) with aview to opening in September 2023. Furthermore, we are also carrying out various
development projects mainly in five wards in downtown Tokyo.

Hankyu Nishinomiya Gardens

TravelSales

Offering Homes That Realise Customers’ Dreams Mainly through Sales under the
Geo Brand

International
Transportation

Geo brand condominiums are designed with quality from the customer’s
point of view, and with the hope that people will grow increasingly
attracted to them over the years. We have also launched a new detachedhouse brand, ‘Geo Garden’. By aggressively developing thesebusinesses, we are able to offer “dreams come true” homes forcustomers.
Geo KItasenri Fujishirodai

Geo Garden Saito MinohOverseas Business

Niche Mono Sukhumvit-Bearing(Thailand)Group Summary

Leveraging our track record in Japan, we are participating in projects tosell approximately 30,000 houses* in five countries: Thailand, Vietnam,
the Philippines, Indonesia, and Malaysia. Through these projects, we
aim to continue to expand our real estate sales business overseas.
In Indonesia, we have entered the overseas real estate leasing
business on a full-scale basis. By investing in an Indonesian entity thatowns the ‘Plaza Indonesia Complex’, the country’s leading complex
comprising a commercial facility, business offices, and a hotel, and ‘fX
Sudirman’, which is a commercial complex housing a theatre, a movie
theatre, and more, we are actively involved in business operations.

HotelsMaking Forays into Countries in the ASEAN Region

Plaza Indonesia Complex* As of July 2021

9 Group Guide 202110

Urban Transportation

SportsStage

Takarazuka Revue

With an illustrious history and tradition, the Hanshin Tigers willcelebrated its 85th anniversary in 2020. The team attracts some of thehighest attendances among professional baseball teams in Japan. By
thrilling crowds, the team members’ performance continues tocontribute to the development of baseball in Japan.

The Takarazuka Revue is one of the most unique theatricalcompanies in the world, with a cast comprised solely of actresses,
and dazzles audiences with “inspiration” and “dreams”. The
revue’s illustrious history stretches back more than 100 years to
its debut performance in 1914. In addition to year-roundperformances at the Takarazuka Grand Theater and the Tokyo
Takarazuka Theater and performances staged throughout Japan,
the group has thus far been on 27 overseas tours in 18 countries
and regions*. The revue’s performances can also be seen via the
Takarazuka Sky Stage dedicated channel, the internet, and live
broadcasts in cinemas.

Real Estate

HANSHIN Tigers* As of July 2021

We enrich people’s lives by providing a varied selection of live entertainment through our businesses.
These include the sports business and the stage business, which are unique strengths of the Group.
The entertainment we offer centres on the Hanshin Tigers, a professional baseball teamwith passionate fans throughout Japan; the Hanshin Koshien Stadium; and the Takarazuka Revue,
which continually adds to its layered history guided by a philosophy of ‘Modesty, Fairness and Grace’.

Hanshin Koshien Stadium
In addition to enjoying fame as the home ground of the Hanshin
Tigers and the venue of the National High School BaseballChampionship and Invitational Tournament, Hanshin Koshien
Stadium hosts various large-scale events, including the final of theJapan University American Football Championship. In view of2024, which will mark the centennial of its opening, the stadium
will continue to develop and retain its enduring appeal, building
on its illustrious history.

Information andCommunication Technology

Producing dreams and excitement for people

Entertainment

Entertainment

Umeda Arts Theater

TravelUmeda Arts Theater operates
two theatres: the Main Hall,
which has 1,905 seats, andthe 898-seat Theater Drama
City. It hosts a wide varietyof shows, including plays,
musicals, concerts andTakarazuka Revue performances.

Music
International
Transportation

Billboard
With a history of more than 100 years, Billboard is the most trusted music brandin the world. Since concluding a license agreement for Japan with Billboard in2006, we have been developing an array of businesses, including clubs.

Hotels

LeisureMt. Rokko

11 Group Guide 2021

Group Summary

Mt. Rokko is known as one of Japan’s best night-view spots. It also boasts a wide
variety of leisure facilities, including one of the largest adventure playgrounds inJapan, ski slopes, an alpine botanical garden, an observatory, and museums.
In addition, the exhibition event platform Rokko Meets Art, which combines thenature and scenery of Mt. Rokko with modern art, has received critical acclaim.

12Urban Transportation

Information Services

Itec Hankyu Hanshin
Real Estate

Information andCommunication Technology
We provide support for businesses in today’s highly networked information society, and deliver peaceof mind and comfort in daily life through businesses in three areas. The activities of information services
businesses include developing systems related to social infrastructure, and building andmaintaining e-commerce websites. In addition, broadcasting and communications businesses focus
on offering regionally based television, internet, and telephone services. Meanwhile, our safety andeducation businesses provide security services, programming education, and other services.

Broadcasting and Communications

Bay Communications (Baycom)
Himeji Cable Television (WINK)
BAN-BAN Networks
Primarily in line-side areas, we provide information infrastructure that enables
convenient access to television, Internet, and telephone services.
Recently, we have not only begun to offer higher-specification optical Internet
services and high-speed wireless Internet services, but have also focused on
producing original community-channel programmes from local perspectives.

Information andCommunication Technology

Contributing to the development of society throughinformation and communications technology.

Entertainment

In addition to such internet businesses as e-commerce and website production,
Itec Hankyu Hanshin uses capabilities fostered over many years to conduct a wide
range of systems development related to social infrastructure, including railways
and buildings.
Further, the company provides solutions related to clinical tests, medical
examinations, health and productivity management, and other areas of the medical
field, and offers contract services in such areas as the development of high-quality
software. By delivering assurance and comfort in daily life and strengthening its
solutions still further, the company aims to roll out services nationwide.

TravelSafetyMimamorume

International
Transportation

In the Mimamorume system, children carry wireless IC tags. When a child passes
through the school gates, their guardian is notified by email. Using this system incombination with monitoring cameras installed by local governing bodies, theMachinaka Mimamorume service provides notifications of the locations of people
who require monitoring, such as children or senior citizens. In this way, we arehelping to create towns where people can live with safety and confidence.

Education

HotelsRobot Programming Classes
ProgLab offers robot programming classes aimed at developing the ability ofchildren as future leaders to realise their ambitions by cultivating their reasoning,problem-solving, and creative skills based on the methodology of STEAM
education.* Approximately 6,000 students currently attend ProgLab classes. We
also offer extension and extracurricular classes at schools.
* Educational methodology that enables children to learn science, technology, engineering, art,and mathematics in an integrated mannerGroup Summary

13 Group Guide 2021

14

Urban Transportation

Overseas & Domestic Travel

Offering Customers Unforgettable Journeys through Five Brands
Real Estate

Since our establishment in 1948, we have always valued customers’ viewpoints and responded to theirdiversifying needs by taking advantage of our long-developed expertise.
We will further develop our capabilities to devise and propose travel plans, and increase the quality ofour products to provide novel itineraries designed for safe and secure travel suitable in the age of the
new normal.

Information andCommunication Technology

Creating safe and secure travel itineraries that cangratify customers’ desires

Entertainment

Travel

Focused on guided tours, the Group’s Travel Business operates worldwide. We offer travel
packages in a line-up of five brands: Trapics, our core brand; Crystal Heart and Hanshin
Koku Friend Tour, both of which feature relaxed travel schedules; e-very, which markets
plan-it-yourself packages; and the Royal Collection, which features luxury custom-madetravel packages. These travel packages are promoted and sold through a wide range ofchannels, including newspaper advertisements,
magazines, the Internet, TV shopping, and commercials.
We are also concentrating our efforts on catering toincreasingly diverse demand by creating new travel
packages based on cruises, domestic bus tours
featuring the CRYSTAL CRUISER Sumile, hiking,community-based tourism, and other activities.

Group Travel

Providing Services Responding to Group Travel Needs

TravelWe provide planning and proposal services for various types of group travel,
ranging from inspection tours, employee leisure trips, training excursions, eventsand conventions, and other types of group travel used by companies and otherentities, to school trips and other education-related travel. In these services, wecall upon the experience and insight gained throughout our long history to cater toour customers’ diverse needs.

Business Travel

We use our accumulated expertise to provide stress-free, comfortable businesstrips. Our services include reservations and ticketing for all the world’s airlines,
visa applications for every country, hotel reservations after arrival at a destination,
and arrangement of interpreters. Moreover, through such services as businesstravel management, which helps reduce costs and manage risks, we support
customers’ overseas business development.

International
Transportation

Supporting Relaxed and Comfortable Business Travel
阪神トラベル・インターナショナル

HotelsTravel for Visitors to Japan

Conducting Tours of Japan with Exceptional Attention to Detail

15 Group Guide 2021

Group Summary

We are developing and expanding new markets through our overseas offices in
Europe, Singapore, and other locations. We provide meticulous services to satisfy
visitors from Europe, Southeast Asia and other parts of the world.

16

Urban Transportation

International Airfreight Transportation

Real Estate

As Japan’s First IATA-Approved Cargo Agency,
Providing Reliable International Transportation Services
Since becoming an International Air Transport Association (IATA) accredited
freight transporter and joining the international airfreight industry in 1948,
Hankyu Hanshin Express has developed a reputation for dependability. Our
seamlessly integrated start-to-finish service has come to be depended on by
many businesses. We provide swift and reliable door to door international freight
services, both importing and exporting, through cooperation with our more than
100 bases in 28countries and regions, overseas subsidiaries,and partnerships with
contracted agencies.

Entertainment

International Transportation
By leveraging our track record and know-how garnered over more than 50 years as a pioneerin the development of transportation services overseas, we manage integrated air and sea
freight transportation and multinational transportation. By providing comprehensive services
that encompass customs clearance through storage and management and logistics consulting,
we help our customers optimise their supply chain management.

Providing Door-to-Door Marine Transportation Services
for Both Imports and Exports

Information andCommunication Technology

Delivering optimal logistics and high-quality global services

International Maritime Cargo Transport

As a non-vessel operating common carrier (NVOCC), we provide international
maritime freight services by utilising our global network just as we do for ourairfreight services. We offer optimised door to door services tailored to customer
needs, including transportation services of FCL (full container load), LCL (less thancontainer load), special containers and break bulk cargo, as well as import and export
customs clearing and logistics consulting services.

TravelLogistics

Proposing and Achieving Optimal Logistics Solutions

International
Transportation

Our highly equipped logistics consulting service experts provide logistics solutions,
optimised for each customer, fully utilising the latest information technology.
We enable speedy, high quality logistics through comprehensive support of thecomplete logistics process including storage and management at high-tech
warehouses, distribution processing and delivery. In 2009, we were certified as an
Authorised Warehouse Operator under the Authorised Economic Operator (AEO)*
programme.

Customs Clearance

Offering Appropriate and Speedy Customs Clearance
Based on Compliance
HotelsImport or export of cargo must be granted clearance by declaring the content andquantity of cargo to customs. We excel at this complicated customs clearance process.
We have been granted customs clearing authorization by six commissioners ofcustoms across Japan. Our customs clearing professionals led by registered customs
specialists deliver swift and effective customs clearing based on compliancerequirements. In 2017, we received certification as an Authorized Customs Broker
under the AEO* programme.

Group Summary* A regulatory exemption that allows simpliﬁed customs clearance and processes and which is applicable to companies that meet a certain standard of cargo security management and compliance

17 Group Guide 2021

18

Urban Transportation

Hankyu-Hanshin-Daiichi Hotel Group

Expanding Our Hotel Chains Based on More Than
90 Years of History and Tradition
Real Estate

The Hankyu-Hanshin-Daiichi Hotel Group is one of the leading hotel chain operators in Japan, with a total of
49 hotels housing more than 12,000 guest rooms throughout Japan, from Tokyo and Osaka to Tohoku andKyushu. We operate a wide variety of hotels, including luxury hotels, budget hotels, and resort hotels, as well
as ‘remm’ brand hotels designed to provide guests with a comfortable sleep. We are also further committed tosatisfying guests’ diverse needs by adding new brands: ‘remm+’, which pursues greater comfort, and Hotel
Hankyu RESPIRE, which focuses on allowing guests to relax and refresh.
In our role as a hotel chain operator, we are capitalising on the hotel management know-how we haveaccumulated over many years to widely support affiliated hotels. We are working to expand our hotel networkand strengthen our marketing capabilities.

Entertainment

49 12,000
More thanHotelshotelsguest rooms

From comfortable hotels designed for a better night’s sleep to ‘city hotels’ providing meal andbanquet services at restaurants and luxurious hotels for enjoying the extraordinary, we offer the bestin hospitality tailored to our customers’ needs.

Dai-ichi Hotel Tokyo

Information andCommunication Technology

Japan’s leading hotel chain operator
Hotel new Hankyu Osaka

Hankyu-Hanshin-Daiichi Hotel Group: Listed Hotels [As of 1st July 2021]
Kanto Area
-Direct operation: 9Dai-ichi Hotel Tokyo
Dai-ichi Hotel Annexremm plus GINZA
remm TOKYO KYOBASHI
remm HIBIYA
remm AKIHABARA
remm ROPPONGI
Dai-ichi Hotel Tokyo Seafort
Kichijoji Dai-ichi Hotel*Scheduled to close on 30th November 2021

Tokyo Dai-ichi Hotel Tsuruoka
Tokyo Dai-ichi Hotel Yonezawa*Scheduled to close on 30th September 2021

Tokyo Dai-ichi Hotel Shin-Shirakawa

Chubu / Hokuriku Area
-Chain hotel: 2Dai-ichi Inn Shinminato
Tokyo Dai-ichi Hotel Nishiki

Shikoku Area
-Chain hotel: 6Takamatsu Kokusai Hotel
JR Hotel Clement Takamatsu
JR Hotel Clement Tokushima
The Crown Palais New Hankyu Kochi
Tokyo Dai-ichi Hotel Matsuyama
Imabari Kokusai Hotel

Kyushu Area
-Direct operation: 1remm KAGOSHIMA

Chugoku Area

International
Transportation-Chain hotel: 6Hotel Boston Plaza Kusatsu
Hotel Royal Hill Fukuchiyama & Spa
Amano Hashidate Hotel
Osaka Dai-ichi Hotel
Hotel Bay Gulls
Arima Kirari Hotel-Chain hotel: 6Ginza Creston
Hotel Yaenomidori Tokyo
Ours Inn Hankyu
Dai-ichi Hotel Ryogoku
Dai-ichi Inn Ikebukuro
Dai-ichi Inn Shonan

Tohoku Area
-Chain hotel: 4Tokyo Dai-ichi Hotel Iwanuma Resort

TravelKinki Area
-Direct operation: 12Hotel New Hankyu Kyoto
remm SHIN-OSAKA
Hotel Hankyu International
Hotel new Hankyu Osaka
Hotel new Hankyu Osaka Annex
Osaka Umeda OS hotel
Hotel Hankyu RESPIRE OSAKA
Hotel Hanshin Osaka
Hotel Hanshin Annex Osaka
Senri Hankyu Hotel Osaka
Takarazuka Hotelremm plus KOBE SANNOMIYA-Chain hotel: 3Royal Park Hotel Kurashiki
Hotel Ichibata
Kure Hankyu Hotel

The Ritz-Carlton Osaka

Besides the Hankyu-Hanshin-Daiichi Hotel Group, we manage The Ritz-Carlton
Osaka. This luxury hotel, which is the first hotel the U.S.-headquartered Ritz-Carlton
hotel chain opened in Japan, has received high acclaim since its opening.
The classical ambience created by its timeless interior design coupled with sincere
hospitality and attention to detail provides guests with unique memories and ahighly personalised experience.

La Baie [Restaurant]Group Summary

19 Group Guide 2021

Hotels“Home Away from Home”—Relaxing Ambience andHeart-warming Hospitality to Welcome Guests

20

(As of 1st July 2021)

Established:
Registered Head Office:Head Office:Tokyo Office:19th October 1907
1-1 Sakaemachi, Ikeda-shi, Osaka 563-0056, Japan
1-16-1 Shibata, Kita-ku, Osaka 530-0012, Japan
Toho Hibiya Bldg., 17F, 1-2-2 Yurakucho, Chiyoda-ku, Tokyo 100-0006, Japan

Paid-in Capital:¥99,474 million(Personnel and General Affairs Div.)Urban Transportation

Hankyu Hanshin Holdings Group Summary

Real EstateCore
Companies• HANKYU HANSHIN EXPRESS (THAILAND) CO., LTD.

• Hankyu Hanshin Electric System Co.Ltd• Hankyu Railway Service Co.,Ltd.
• Hanshin Sharyo Maintenance Co.,Ltd.
• HANSHIN STATION NET CO.,LTD.
• Hanshin Taxi Co., Ltd.
• HANSHIN BUS CO.,LTD.
• Limousine Total Service Co.,LTD• Railway Operation Hankyu Co.,Ltd.
• HK Electric Industries,Ltd.

• HANKYU LOGISTICS (M) SDN. BHD.

• HANKYU HANSHIN EXPRESS MEXICO S.A. DE C.V.

• HANKYU HANSHIN EXPRESS PHILIPPINES, INC.

• HANKYU HANSHIN EXPRESS (DEUTSCHLAND) GMBH

• HANKYU HANSHIN LOGISTICS PHILIPPINES, INC.

• HANKYU HANSHIN EXPRESS (NETHERLANDS) B.V.

• HANKYU CUSTOMS BROKERAGE INC.

• HANKYU HANSHIN EXPRESS (UK) LIMITED• PT. HANKYU HANSHIN EXPRESS INDONESIA• INTRASPEED SOUTH AFRICA (PTY) LTD.

• PT. HANKYU HANSHIN LOGISTICS INDONESIA• INTRASPEED ARCPRO (KENYA) LIMITED• HANKYU HANSHIN EXPRESS (VIETNAM) CO., LTD.

• INTRASPEED EAST AFRICA LIMITED• HANKYU HANSHIN EXPRESS INDIA PRIVATE LIMITED• HANKYU HANSHIN EXPRESS (BEIJING) CO., LTD.

• HANKYU HANSHIN EXPRESS (MYANMAR) CO., LTD.

• HANKYU HANSHIN INTERNATIONAL LOGISTICS• HOT Logistics Co., Ltd.

(SHANGHAI) CO., LTD.

• Hankyu Hanshin Real Estate Investment Advisors, Inc.
• Hankyu Hanshin REIT Asset Management,Inc.
[Overseas subsidiaries]• Hankyu Hanshin Properties Singapore Pte. Ltd.
• Hankyu Hanshin Properties (Thailand) Co., Ltd.
• Hankyu Hanshin Properties Vietnam Co., Ltd.

Hotels[Other organisations]• Urban Innovation Institute• Hankyu Kyoueikai Medical Corporation• WELLNESS HANSHIN,INC.

• HANSHIN CONTENTS LINK CORPORATION[Other organisations]• Umeda Arts Theater Co.,Ltd.

• Hanshin Tigers Baseball Club,Ltd.

• Takarazuka Music School• TAKARAZUKA Creative Arts CO.,LTD• P & P Hamamatsu Co., Ltd.

• Takarazuka Revue Company• TAKARAZUKA STAGE CO.,LTD• Mt.ROKKO CABLE CAR & TOURISM COMPANY

Other• HANKYU HANSHIN EXPRESS (GUANGZHOU) LIMITED[Representative offices]• HANKYU HANSHIN EXPRESS (HK) LIMITED• Milano Office• HANKYU HANSHIN EXPRESS (TAIWAN) LTD.

• Dubai Office• HANKYU HANSHIN EXPRESS (KOREA) CO., LTD• Moscow Office• HANKYU HANSHIN EXPRESS SOUTHEAST ASIA PTE. LTD.

• Phnom Penh Office• Amanohashidate Hotel Co., Ltd.

• KEIHIN SERVICE CO.,LTD.

• Arima View Hotel Co.,Ltd.

• Dai-ichi Hotel Service Co., Ltd.

• Kure Hankyu Hotel Co., Ltd.

• HANSHIN HOTEL SYSTEMS CO.,LTD.

• Assist Hankyu Hanshin Co.,Ltd.

• Hankyu Hanshin Financial Support Co.,Ltd.

• IKIIKI LIFE HANKYU HANSHIN CO.,LTD.

• Hankyu Hanshin Insurance Service Co., Ltd.

• OS Co.,Ltd.

• Hankyu Hanshin Point Co.,Ltd.

• KANSAI TELEVISION CO. LTD.

• hankyu hanshin marketing solutions Inc.

• Kobe Electric Railway Co., Ltd.

• HANKYU MEDIAX Co.,Ltd.

• Station Network Kansai Co., Ltd.

• Hanshin Gardenings Co., Ltd.

• CHUO DENSETSU CO.,LTD.

• HANSHIN CONSTRUCTION CO.,LTD.

• TOKYO RAKUTENCHI CO.,LTD.

• LIFE DESIGN HANKYU HANSHIN CO., LTD• Tottori Sakyu Kaikan• Hankyu Construction Management,Inc.

[Other organisations]• Hankyu Sangyo Co.,Ltd.

• Hankyu Culture Foundation• ITEC SOFTWARE CO.,LTD.

• HANSHIN CABLE ENGINEERING CO.,LTD.

• Hankyu Hanshin Card Co.,Ltd.

• ITEC HANKYU HANSHIN CO.,LTD.

• Himeji Cable Television Co.,Ltd.

• Hankyu Hanshin Business Associate Co., Ltd.

• Rworks, Inc.

• Bay Communications Inc.

• FM KITA INC.

• Mimamorume Co.,Ltd.

• System Giken Co., Ltd.

• YMIRLINK Inc.

• NIHON PROTEC CO.,LTD.

• BAN-BAN Networks Co.,Ltd.

[Overseas subsidiaries]• Tabicoffret Co., Ltd.

• HANKYU INTERNATIONAL CHINA CO.,LTD• NIKKEI CULTURE INC.

• HANKYU TRAVEL INTERNATIONAL EUROPE S.R.L.

• Hankyu Travel Support Co., Ltd.

• HANKYU TRAVEL INTERNATIONAL EUROPE UK LTD.

• HANKYU HANSHIN BUSINESS TRAVEL CO.,LTD.

• HANKYU TRAVEL INTERNATIONAL SINGAPORE PTE.LTD.

• HOPS Co., Ltd.

Hankyu Hanshin Toho Group [As of 31st March 2021]
The Hankyu Hanshin Toho Group is a corporate group consisting of the
Hankyu Hanshin Holdings Group, the H2O Retailing Group, which
operates the department store business and other retail-related
business centred on Hankyu Department Store and Hanshin Department
Store, and the Toho Group mainly involved in film production anddistribution and entertainment production.

Group companies: 198 companies, 5 organisations
Group employees: 35,480
Group sales:¥1,500 billion

Hankyu Hanshin
Holdings Group

Hotels• AIRSERVE Co.,Ltd.

• HANSHIN TRAVEL INTERNATIONAL CO.,LTD.

International
Transportation

Travel• HANKYU HANSHIN EXPRESS (MALAYSIA) SDN. BHD.

• HANKYU HANSHIN EXPRESS (USA) INC.

• HANKYU HANSHIN EXPRESS (SHANGHAI) CO., LTD.

• TAKARAZUKA LIVE NEXT Co.,Ltd.

Information andCommunication
Technology

International
Transportation[Overseas subsidiaries]

TravelEntertainment• Advance Development Co.,Ltd.
• Umeda Center Building Co., Ltd.
• Osaka Diamond Chikagai Co., Ltd.
• Kyokuto Co.,Ltd.
• Senri-Asahi-Hankyu-Building Administrative Co.,Ltd.
• Hankyu Nigawa Sports Garden Co., Ltd.
• HANKYU HANSHIN ESTATE SERVICE CO.,LTD.
• Hankyu Hanshin Clean Service Co.,Ltd.
• Hankyu Hanshin High Security Service Co.,Ltd.
• Hankyu Hanshin Housing Support Ltd.
• Hankyu Hanshin Building Management Co.,Ltd.

• Nishiyama Driveway Co., Ltd.
• Nose Electric Railway Co.,Ltd.
• Haks Hanshin Co., Ltd.
• HANKYU KANKO BUS CO.,LTD.
• Hankyu Commuterbus Management Co.,Ltd.
• Hankyu Style Labels Co.,Ltd.
• Hankyu Sekkei Consultant Ltd.
• Hankyu Taxi Inc.
• HANKYU DRIVING SCHOOL HATTORI RYOKUCHI• Hankyu Bus Co., Ltd.
• HANKYU HANSHIN MOTOR TECHNOLOGY CO.,LTD.

• HANKYU HANSHIN EXPRESS (SINGAPORE) PTE. LTD.

Information andCommunication Technology

Real Estate• ALNA SHARYO CO., LTD.
• IINA DINING CO.,LTD.
• Ikeda LPG inc• Eki Retail Service Hankyu Hanshin Co., Ltd.
• Osaka Airport Transport Co.,Ltd.
• Osaka Hanshin Taxi Co., Ltd.
• OSAKA MOTOR TECHNOLOGY CO.,LTD.
• KITA-OSAKA KYUKO RAILWAY CO.,LTD.
• KOBE RAPID TRANSIT RAILWAY CO.,LTD.
• Tango Kairiku Kotsu Co., Ltd.
• NISHIOSAKA RAPID RAILWAY CO.,LTD.

• HANKYU HANSHIN LOGIPARTNERS Co.,Ltd.

• HANKYU TRAVEL INTERNATIONAL CO.,LTD.
• HANKYU HANSHIN EXPRESS CO., LTD.
• Hankyu Hanshin Hotels Co., Ltd.

Entertainment

Urban
Transportation• HANKYU CORPORATION• HANSHIN ELECTRIC RAILWAY CO.,LTD.
• Hankyu Hanshin Properties Corp.

Hankyu Hanshin
Toho Group
Toho GroupH2O Retailing
Group

Group Summary

21 Group Guide 2021