Hankyu Hanshin Holdings Group
Supplementary Materials ofFinancial Results for the First Quarterof Fiscal 2024 (Ending March 2024)
August 1, 2023
Hankyu Hanshin Holdings, Inc.
9042 https://www.hankyu-hanshin.co.jp/en/

Consolidated Statements of Income(Summary)
Q1 FY2024
Results

FY2023Results

ChangeConsolidated Subsidiaries
Equity-Method Affiliates
Total

104 companies
13 companies
117 companies

99 companies +5 (6 companies increase, 1 company decrease)
10 companies +3 (3 companies increase)109 companies +8 companies(¥ million)

Q1 FY2024
Results

Q1 FY2023
Results

Change245,524

228,993

Operating profit

33,75024,425[Business profit][34,118][24,425]

Non-operating income

6,232

3,931

+2,300Non-operating expenses

3,150

2,592+558

36,831

25,763Extraordinary income

650

840

-190

Extraordinary losses

642

845

-202

25,098

16,826

Operating revenue

Ordinary profit

Profit attributable to ownersof parent

Q1 FY2024
Results（Reference）

Q1 FY2023
Results

Remarks+16,530 （ ＋7.2% ）+9,325 （ ＋38.2% ） For details, please see page3[+9,693] [ ＋39.7% ]Equity in income of affiliates ＋1,807
Interest expense ＋465

+11,067 （ ＋43.0% ）+8,272 （ ＋49.2% ）ChangeDepreciation and amortization

15,002

15,135-133

Financial balance ① - ②-1,811-1,527-284

Interest and dividend income①735

554

+181

Interest expense②

2,547

2,081+465（※） Business profit = Operating profit + Equity-method gains/losses related to overseas business investments【For details, please see next page.】（With regard to Q1 FY2023 results, we had no equity-method affiliates in our overseas businesses. Thus,for this year, Operating profit = Business profit.）1

Business Profit
 “Business profit” was introduced from the fiscal year ending in March 2024 as a new management
metric for the Group to reflect equity-method gains/losses accompanying overseas business
investments alongside operating profit.
 This is intended to more accurately track progress in overseas business growth initiatives (in theReal Estate business).

Business profit＝ Operating profit ＋ Non-operating profit: Equity-method gains/losses related
to overseas business investments (in Real Estate segment) Company-wide business profit
Q1 FY2024 Q1 FY2023
ResultsResults
245,524
228,993
Operating revenue

Operating profit ①

Change%＋16,530＋7.2%＋38.2%

33,75024,425＋9,325

Equity-method
gains/losses related tooverseas business
investments ②368－＋368

Business profit ①+②

34,11824,425＋9,693＋39.7%

Note: With regard to Q1 FY2023 results, we had no equity-method affiliates in our overseas businesses.
Thus, for this year, Operating profit = Business profit.

2

Consolidated Statements of Income (Breakdown for each business segment)[Key results in current period]
Revenue and profit increased backed by an increase in demand for hotel accommodation in the Real
Estate business, and a recovery to a certain extent in the number of passengers in the Urban
Transportation business.
(¥ million)

Operating profit

Operating revenue
Q1 FY2024
Results

Q1 FY2023
Results

Urban Transportation

49,60645,655

Real Estate

69,593Entertainment[Business profit]
Q1 FY2024
Results

Q1 FY2023
Results+3,950

9,784

6,832

60,841+8,752

11,116[11,484]

23,83622,898+938

8,246

7,832+413

Information andCommunication Technology

13,032

12,530+501

176

258-81

Travel

61,26541,338+19,9265,009

3,554+1,454International
Transportation

25,835

43,698-17,863

522

1,911-1,389

Other

10,6199,955+663

71-2+74

Adjustment-8,264-7,924-340-1,176-1,262+85

245,524

228,993+16,530

33,750[34,118]

Total

ChangeChange+2,951

5,300 +5,816[5,300] [+6,184]

24,425 +9,325[24,425] [+9,693]

Note: Business profit = Operating profit + Equity-method gains/losses related to overseas business investments 【For details, please see page2.】（Q1 FY2024 results for all segments besides the Real Estate business were calculated as “Business profit = Operating profit”.）

3Urban Transportation Results
Revenue and profit increased due to a recovery to a certain extent in the number of passengers in theRailway and Automobile businesses, and the start of collection of barrier-free charges* at railwaystations.
*All barrier-free charges will be used in the development of further barrier-free facilities in the future.

（\ million）

Q1 FY2024
Results

Q1 FY2023
Results

Change％Operating revenue

49,60645,655+3,950＋8.7%

Operating profit

9,784

6,832+2,951＋43.2%[Breakdown by type of business]（\ billion）

Operating revenue
Q1 FY2024 Q1 FY2023
Results
Results

Operating profit

Y on YQ1 FY2024 Q1 FY2023
Results
Results

Y on Y

Railway

36.6

33.7+2.9

10.6

8.5+2.1

Automobile

10.6

9.5

+1.1

0.5

-0.1+0.6

Retailing

3.0

2.9+0.0

0.3

0.3+0.0

Others

1.4

1.3+0.1

0.1-0.0+0.2

Note: Not including head office expenses / adjustments.

4

[Urban Transportation] Railway Performance Results
Hankyu Corporation
Fare revenues (¥ million)*
Q1 FY2024
Results

Q1 FY2023Results

Commuter pass

8,205

7,691+514

Workers

6,993

6,520

Students

1,212

1,170

Other tickets
Total

Passenger volumes (Thousands)*
Q1 FY2024
Results

Q1 FY2023
Results(＋6.7%)

82,51478,819+3,694(＋4.7%)+473(＋7.3%)

55,58752,917+2,669(＋5.0%)+41(＋3.5%)

26,92725,901+1,025(＋4.0%)

14,87813,529 +1,348 (＋10.0%)

70,23867,286 +2,951(＋4.4%)

23,084

21,220 +1,863

152,753

146,106 +6,646(＋4.5%)Hanshin Electric Railway

Change(＋8.8%)

ChangeBarrier-free charge: 0.7 billion yen

Fare revenues (¥ million)*
Q1 FY2024
Results

Q1 FY2023
Results

Commuter pass

3,026

2,804+222

Workers

2,707

2,494

Students

319

309

Other tickets

5,577

4,792

Total

8,604

Passenger volumes (Thousands)*
Q1 FY2024
Results

Q1 FY2023
Results(＋7.9%)

31,05629,357+1,698(＋5.8%)+212(＋8.5%)

24,43422,969

+1,465(＋6.4%)+10(＋3.3%)

6,621

6,388

+233

(＋3.7%)+784 (＋16.4%)

28,551

25,618+2,932 (＋11.4%)

7,597 +1,007 (＋13.3%)

59,60754,976+4,631

ChangeChange(＋8.4%)

Barrier-free charge: 0.2 billion yen
Note: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
4) In FY2024, Hankyu Corporation and Hanshin Electric Railway introduced a barrier-free charge. This charge is added to regular rail fares
and included in the fare revenues from “other tickets” and “commuter pass: workers.”

5Real Estate Results
Revenue and profit increased, driven by a recovery in demand for accommodations in the Hotelbusiness, primarily from inbound visitors, and robust growth in leasing activity in Osaka Umeda Twin
Towers South and other properties making up the Real Estate Leasing business portfolio.
（\ million）

Q1 FY2024
Results

Q1 FY2023
Results

Change％Operating revenue

69,59360,841+8,752＋14.4%

Operating profit

11,1165,300+5,816＋109.7%[Business profit][11,484][5,300][+6,184] [＋116.7%][Breakdown by type of business]（\ billion）

Operating profit[Business profit]

Operating revenue
Q1 FY2024 Q1 FY2023
Results
Results

Y on YQ1 FY2024 Q1 FY2023
Results
Results

Y on Y

Real estate leasing

30.4

27.8+2.6

9.7

7.9+1.8

Real estate sales
and others

30.7

30.0+0.7

2.4

1.8+0.6

Overseas
real estate

1.6

0.4+1.2

0.7
[1.1]

0.0
[0.0]

+0.7
[+1.1]

Hotel

14.8

9.2+5.6

1.1-1.8+2.9

Note:1) Not including head office expenses /adjustments.
2) “Overseas Real Estate” is shown as an independent subsegment in the Q1 FY2024 results, and the results for Q1 FY2023 have also been changed
as a point of comparison.
3) Business profit = Operating profit + Equity-method gains/losses related to overseas business investments（Q1 FY2024 results for all segments besides the overseas Real Estate business were calculated as “Business profit = Operating profit”. ）6

Entertainment Results
Revenue and profit increased despite the Stage business experiencing the cancellation of certain stage
shows by the Takarazuka Revue, driven primarily by an increase in the number of official Hanshin
Tigers games, and attendance at said games, in the Sports business segment.

（\ million）

Q1 FY2024
Results

Q1 FY2023
Results

Change％Operating revenue

23,83622,898+938＋4.1%

Operating profit

8,246

7,832+413＋5.3%[Breakdown by type of business]（\ billion）

Operating revenue
Q1 FY2024 Q1 FY2023
Results
Results

Operating profit

Y on YQ1 FY2024 Q1 FY2023
Results
Results

Y on YSports

15.3

13.4

+1.9

6.8

5.7

+1.1Stage

8.5

9.5-1.0

1.9

2.6-0.7

Note: Not including head office expenses /adjustments.

7Information and Communication Technology Results
Although revenue increased due to an increase in orders received in the Information Services
business, increased labor costs and other expenses kept profits flat year-over-year.

（\ million）
Operating revenue
Operating profit

Q1 FY2024
Results

Q1 FY2023
Results

Change％13,032

12,530+501＋4.0%

176

258-81-31.6%

Travel Results
Revenue and profit increased despite a drop in orders in support services for local governments andother businesses outside of travel due to robust demand for domestic travel, backed by continuedsubsidized discounts for travel across Japan, and a year-on-year increase in overseas travel, despite
not getting back to a full-fledged recovery.

（\ million）
Operating revenue
Operating profit

Q1 FY2024
Results

Q1 FY2023
Results

Change％61,26541,338+19,926＋48.2%

5,009

3,554

+1,454＋40.9%
8

International Transportation Results
Revenue and profit declined in both air and sea transport due to a deteriorating business environment,
as seen in a relaxing of the tight supply and demand conditions that persisted, and stagnant logistics
demand caused by sweeping inventory adjustments made by customers, among other factors.

（\ million）
Operating revenue
Operating profit

Q1 FY2024
Results

Q1 FY2023
Results

Change％25,835

43,698-17,863-40.9%

522

1,911-1,389-72.7%

9

Consolidated Balance Sheets

Assets（\ million）

Q1 FY2024
Results

Liabilities

ChangeRemarks

Current assets

397,258

428,082-30,823 Notes and accounts receivable - trade -38,827

Noncurrent assets

2,464,745

2,437,328+27,417 Property and equipment and intangible assets ＋7,725

2,862,004

2,865,410

Total assets

Net assetsFY2023
Results

Current liabilities

445,465499,684

Investment securities +18,775-3,406-54,219Q1 FY2024
Results
DeptBonds

Long-term liabilities

1,402,576

1,384,785+17,791

Commercial paper
Lease obligations
Interest-bearing debt

Total liabilities

825,757
822,595
260,000
260,000－
10,00014,022
13,755
1,099,779 1,106,351

1,848,042

1,884,470

Shareholders' equity

894,186

878,110+16,076 Payment dividend -6,062

Accumulated othercomprehensive income

37,146

28,692+8,453

Non-controlling interests

82,62874,137+8,491

1,013,961

980,940+33,021

32.5%

31.6%

＋0.9ｐ

Total net assets
Equity ratio-36,427

FY2023Results

Change＋3,161-0-10,000+267-6,571

Reduction in accounts payable
Profit attributable to owners of parent ＋25,098
Treasury Shares-2,026

Valuation difference on avairable-for-sale securities+4,76110