Hankyu Hanshin Holdings

https://www.hankyu-hanshin.co.jp/en/2022

Hankyu Hanshin Holdings Group Management Philosophy
MissionWhat we try to achieve

By delivering “Safety and Comfort” and “Dreams and Excitement”,
we create satisfaction among our customers and contribute to society.
ValuesWhat is important to us◎ Customers First

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

◎ Sincerity

Gain customers’ confidence by always being sincere.

◎ Foresight & Creativity

With our pioneer spirit and flexible thinking, we create a new value.

◎ Respect for People

Everyone is absolutely invaluable to the Group.

Principles How to act to uphold our values and fulfil our mission
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
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

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.
However, society, the economy, and our business environment have recently been experiencing drasticchanges, including rapid social changes triggered by the COVID-19 pandemic, and heightened publicawareness of the Sustainable Development Goals (SDGs) and the internationally shared goal ofachieving carbon neutrality by 2050. In response to these changes, we have updated the Hankyu
Hanshin Holdings Group Long-Term Management Vision for 2025 (fiscal 2026), which wasformulated in 2017, so that we will be able to continue to enhance our corporate value.
The new ‘Long-Term Vision: Toward 2040’, the resulting update, holds in view the period around2035 to 2040, when the various major projects we will continue to promote are expected to begin tocontribute to our earnings. It defines our future vision (‘Enhancing line-side areas and expanding
fields’) and four strategies for achieving the vision (1. Make our railway the absolute best among the
Kansai networks; 2. Make our content as compelling as possible; 3. Expand the coverage of ourline-side business model; and 4. Increase market share by providing high value-added services),
as well as our financial policies (pursuing financial stability and firmly establishingcapital-cost-conscious management). From now on, we will focus on implementing measures in linewith these strategies, and strongly promote our efforts to implement the Hankyu Hanshin DX Project*
and to contribute to the achievement of the SDGs and the 2050 carbon neutrality goal, thereby
transforming our organisation through groupwide cooperation.
We aim to become a well-balanced, sophisticated corporate group that grows alongside the local
community of Kansai through our sustained efforts to increase our corporate value and realise asustainable society.
We in the Hankyu Hanshin Holdings Group will make all-out efforts to meet the expectations ofdiverse stakeholders. As we move forward, we ask our stakeholders to continue to support us in our
endeavours.
* Collective term for the measures that the Group will newly adopt for digital transformation (DX)(including providing new services in the digital field and introducing a groupwide ID)

Hankyu Hanshin Holdings, Inc.

Kazuo Sumi

Chairman and Representative Director,
Group Chief Executive Officer

Takehiro Sugiyama

President and Representative Director

1 Group Guide 2022

2

The Group’s History

Group Overview

HanshinHankyu1899 〉Founding of Settsu Electric Railway(currently Hanshin Electric Railway Co., Ltd.)

1905 〉Beginning of railway operations(Kobe [Sannomiya]–outer Osaka [Deiribashi])1907 〉Founding of Minoh-Arima Electric Railway Company(currently Hankyu Corporation)

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

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 theprovision of thrilling 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 tosociety, accumulating many achievements. Through these activities, we have continued to deliver our customers “Safety andComfort” to support 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.

Customer Satisfaction Survey(currently Takarazuka Revue Company)

1914 〉Implementation of Takarazuka Revue’s
first performance

1924 〉Opening of

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

1933 〉Opening of Hanshin Mart at Hanshin Umeda Station(Opening of Hankyu Department Store,
Asia’s first railway terminal
department store)(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)

1937 〉Beginning of business on Mt. Rokko
1947 〉Separation of department store sector and related businesses
to establish Hankyu Department Stores, Inc.

(Opening of Rokkosan Country House)
1940 〉Opening of Hanshin Mart (Osaka-ekimae underground)(later renamed ‘Hanshin Department Store’;currently ‘Hanshin Department Store Umeda Main Store’)1948 〉Launch of airline agency business

1948 〉Launch of airline agency business(Conclusion of Japan’s first agency
agreement with Pan American Airways)

1950 〉Approval as IATA air cargo agency〉Approval as Japan’s first
IATA air cargo agency

1952 〉Establishment of Hankyu Realty Co., Ltd.

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

2004 〉Entry into real estate investment trust (REIT) business* The JCSI is based on one of the largest-scale customer satisfaction surveys in Japan,
conducted by Service Productivity & Innovation for Growth (SPRING) under the Japan
Productivity Center. The survey evaluates companies and brands using statisticaltechniques based on responses from over 120,000 users.

2008 〉Opening of Hankyu Nishinomiya Gardens
2009 〉Beginning of Operations of the Hanshin Namba Line(between Nishikujo and Osaka-Namba)

2012 〉Completion of the Umeda Hankyu Building

2nd : Umeda/Osaka
3rd : Shukugawa
4th : Senri-Chuo
5th : Okamoto* Questionnaire survey conducted on MAJOR7(a website run by seven major Japanese real estate companies) in
September 2021

Core Business Segments

Hankyu Hanshin Holdings
Real EstateEntertainment

Information andCommunication
Technology

TravelInternational
Transportation

Hankyu Travel
International

Hankyu Hanshin
Express

Hankyu Corporation
Hankyu Hanshin
Properties
Hanshin Electric Railway* As for our Real Estate Business, Hankyu Corporation and Hanshin Electric Railway collaborate with Hankyu Hanshin Properties topromote urban development of real estate owned by Hankyu Corporation and Hanshin Electric Railway for rent and development incooperation with transportation networks, local governing bodies and others in Umeda and their line-side areas.
* In April 2022, to build a more effective system for promoting community-development, multipurpose-development, and other projects
through close collaboration between the Real Estate and Hotels businesses, the Group integrated the Hotels segment with the Real
Estate segment, shifting from an organisational structure with seven business segments to one with six business segments.

(As of 1st April 2022)

Consolidated Performance Trends(currently ‘Osaka Umeda Twin Towers North’)2022 〉Completion of Osaka Umeda Twin Towers South

1st : Nishinomiya-Kitaguchi

We have core businesses in six business domains: Urban Transportation, Real Estate, Entertainment, Information andCommunication Technology, Travel, and International Transportation. Further, under the direction of Hankyu Hanshin Holdings, Inc.,
which supervises the Group’s management, these businesses are operated by five core companies: Hankyu Corporation, Hanshin
Electric Railway Co., Ltd., Hankyu Hanshin Properties Corp., Hankyu Travel International Co., Ltd., and Hankyu Hanshin Express
Co., Ltd. Through these core businesses and companies, we will foster organic growth across the entire Group.

Billboard brand2006 Establishment of Hankyu Hanshin Holdings, Inc.

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 bypeople as areas where they wish to live.
Our power to enhance the value ofline-side areas is among our strengths.

Core Businesses and Companies

1967 〉Opening of Hotel Hanshin (currently Hotel Hanshin Osaka)
1991 〉Opening of urban-type CATV ‘Channel Wave Amagasaki’2006 〉Conclusion of master license agreement of(in the Kansai Region)

In the Japanese Customer Satisfaction Index (JCSI),* Hankyu
Corporation has ranked top in the suburban railway category for 13
consecutive years, from FY2010 to FY2022, since the survey began.
The same index also ranked Takarazuka Revue Company first, not onlyin the entertainment category during the three-year period from FY2017
to FY2019 and in FY2022, but also in overall rankings among 328
companies/brands from 34 industries in FY2022.

Urban
Transportation(currently Hankyu Hanshin Properties Corp.)

Questionnaire about Areas to LiveFY2018FY2019FY2020

FY2021

FY2022

Revenues from operations (¥billion)

760.3

791.4

762.7

568.9

746.2

Operating income (¥billion)

105.2

114.9

95.2

2.1

39.2

In FY2022, despite the lingering impact of the COVID-19 pandemic, the Group achieved an increase both in revenues from operations and operating
income from FY2021, when the Group suffered the massive adverse impact of the pandemic. The increase is explained mainly by a certain level ofrecovery of many of the Group’s businesses.

3 Group Guide 2022

4

Sustainability Declaration▶For more details, please visit our website.

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

GeneralPrinciples

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 a sustainable future, one that offers a fulfilling, joyful life to all and inspires the next generation to dream with hope.

Priority issues (materiality matrix) Six priority issues to address as part of our sustainable business practices

Long-Term Vision: Toward 2040

▶For more details, please visit our website.

In May 2022, we formulated the ‘Hankyu Hanshin Holdings Group Long-Term Vision: Toward 2040’, which defines the Group’s
future vision and strategies for achieving it.

Group’s long-term future vision■ Create and provide the diverse values (safe, comfortable urban life and inspiring experiences) that will enhance line-side
areas and expand our portfolio, leading to improved customer satisfaction and sustained business growth■ Meet the expectations of our stakeholders (customers, communities, and others) in terms of supporting asustainable future

Ultimately become a well-balanced, sophisticated corporate groupthat grows alongside the community (Kansai)

Thereby

Strategies for achieving the future vision
Safe, reliableinfrastructure
Provide railways and otherinfrastructure that are safe anddisaster-resilient. Ensure thatanyone can safely access ourfacilities and services.

Life designs for
tomorrow

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

Promote refined and inspired
lifestyle solutions for a better
tomorrow.

Strategy 1(core strategy)

Make our railway the absolute best among the Kansai networks

Urban Transportation, Real Estate, etc.

● Focus on making our line-side areas much more attractive by engaging in community building and actively
leveraging digital innovations with the aim of coping with the shrinking and aging population● Strengthen our line-side areas' connections with land transport links (Tokyo-Nagoya-Osaka) and global
dynamism by promoting the Naniwasuji Connection Line and Shin-Osaka Connection Line Project, and use
new projects (e.g. Shibata 1 Development) to make Osaka-Umeda as a whole a world-class urban environment
in line with the Umeda Vision

Strategy 2Make our content as compelling as possible

Entertainment and Travel● Make our content more compelling while expanding our customer baseand actively leveraging digital tech

Empowering
individuals

Environmental
protection

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

Contribute toward a decarbonised,circular economy.

Robust governance

Strategy 3

Expand the coverage of our line-side business model

Real Estate and other businesses● Expand our line-side business model (e.g. building abundant communities) beyond line-side areas by utilizing
the know-how and achievements that we have accumulated through strategies 1 and 2

Act honestly and in good faith, as
stakeholders expect us to do.
Strategy 4

Increase market share by providing high value-added services

Information and Communication Technology
and International Transportation● Use our tech and know-how to expand the value scope of our businesses● Provide high-quality, competitive services to increase our business scale and market share

In addition to pursuing these four strategies, we will strongly promote our efforts to implement
the Hankyu Hanshin DX Project and to contribute to the achievement of the SDGs and the 2050 carbon neutrality goal.

Hankyu Hanshin Dreams and Communities of the Future Project
Since April 2009, we have promoted the Hankyu Hanshin Dreams and Communities of the Future Project
as a community contribution initiative.
Basic Policy

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

5 Group Guide 2022

Subsequent key performance indicator (KPI) targets
Financial and non-financial KPI targets for FY2031< Financial KPI targets >Operating income
Profitability

Human capital development for the
next generation
We are creating opportunities for thehealthy development of ambitious
children, upon whose shoulders thetask of building the communities ofthe future rests.

FinancialhealthCapitalefficiency¥130.0 billion
plus something extra

Interest-bearing-debt-toEBITDA ratio

5 to less than 6 times

ROE

7% range in themedium to long term

Vision for the Group’s growth around 2035 to 2040
< Non-financial KPI targets >● Reducing CO2 emissions by 46% from the
FY2014 level● Zero culpable incidents/accidents in ourrailway business● Continuing to improve employee
satisfaction● Increasing the percentage of female
managers to around 10%● Women always accounting for over 30% of
new employees

We envisage that, during the above period,
we will further increase our operating income
from the FY2031-target level (¥130.0 billion
plus something extra), by earning profits frommajor development projects that will becompleted and lead to the start of business
operations during the period, and by further
promoting the Hankyu Hanshin DX Project.

6

Urban Transportation

Real Estate

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

Contributing to the creation of appealing towns andoffering enriched lifestyles

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 andKyoto 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 and near railway stations.

Since its early days, the Real Estate Business has focused on building attractive towns and cities along
railway lines, and shared its growth with the Urban Transportation Business. We develop, lease, andadminister commercial facilities and office buildings that create vibrant communities. We also provide quality
residences that match each person’s lifestyle, and even run hotels that offer guests the highest level ofhospitality. We are actively committed to creating new communities through future-oriented initiatives.

Railway Operations
Extensive Railway Network Linking Osaka, Kobe, Kyoto andVarious Other Areas in the Kansai Region
These operations form a network in the Kansai area that centres on therailway lines of Hankyu Corporation and Hanshin Electric Railway. Hankyu
Corporation's railway lines link Osaka (Umeda) with Kobe, Takarazuka,
and Kyoto. 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.

Development and Leasing
Promoting Diverse Development Projects and Running Various Commercial Facilities and Office Buildings
In Osaka-Umeda, we are promoting the Umekita Phase II Development
Project with the aim of putting into practice our community building
concept of fusing greenery and innovation. We have also initiatedShibata 1 Development to increase the value of the area centred around
Hankyu Osaka-umeda Station. In the leasing business, we own many
commercial facilities and office buildings, primarily in Osaka-Umeda andareas served by the Hankyu and Hanshin lines, including Osaka Umeda
Twin Towers, GRAND FRONT OSAKA, HERBIS OSAKA and HERBIS ENT,
and Hankyu Nishinomiya Gardens. The total area of our leasing property isapproximately 2.15 million square metres.** As of 31st March 2022

Buses & Taxis
Providing Bus and Taxi Services Mainly in Areas Along theHankyu and Hanshin Lines in Collaboration with Railway Services
Hankyu Bus and Hanshin Bus offer bus location services that enablereal-time checking of the status of buses operating on routes, and haveintroduced an in-house IC passenger card, ‘hanica’, to enhancecustomers’ convenience. Moreover, all Hankyu Taxi and Hanshin Taxicabs accept various forms of electronic payment to cater to diversifying
payment needs. We are also promoting eco-driving techniques out ofconcern for the environment.

Retailing

Sales
Offering Homes that Realise Customers’ Dreams Mainly
through Sales under the ‘Geo’ Brand‘Geo’-brand flats are designed from the customer’s point of view to haverefinement and quality and to arouse a stronger feeling of attachment in
the residents over time. We also combine our long-standing know-how
about line-side area development with the concept of ‘Geo’ residences topromote the ‘Geo Garden’ brand of detached houses. With these as our
key brands, we help our customers’ dreams come true by offering dreamhomes to them.

Overseas Business

Providing Retail Services Inside and Near Railway Stations

Expanding into ASEAN Countries and the U.S.

Inside and near railway stations on the Hankyu and Hanshin lines, weoperate COLOR FiELD cosmetics and clothing shops, DOUBLEDAY
furniture and interior goods shops, Seijo Ishii franchise supermarkets, andother shops. In addition, we partner with outside companies to provide awide selection of shops, thereby offering greater convenience tocustomers who use our railway stations.

Leveraging our track record in Japan, we have been participating in projects to sell approximately 44,000
houses* in the five countries of Thailand, Vietnam, the Philippines, Indonesia, and Malaysia. Through theseprojects, we aim to continue to expand our real estate sales business overseas.
We also funded an Indonesian entity that owns the multipurpose facility ‘Plaza Indonesia Complex’ and thecommercial facility ‘fX Sudirman’, and we have since been actively involved in its business operations.
Furthermore, in the U.S., we established a local subsidiary, through which we acquired a multi-family
property, thereby launching our first-ever initiative to take part the real estate business in the country.
* As of April 2022

Advertising
Effectively Leveraging the Vast Reach of Transportation Advertising
We provide customers with value-added spaces through a wide line-upof advertising, from advertising in trains, terminals, and concourses todigital signage. Moreover, we effectively leverage our retail business’s
contact with customers and manufacturers and the vast reach of thetransportation advertising business to promote goods sold in shops
inside and near our stations on transportation advertising media or in
event spaces.

7 Group Guide 2022

HotelsJapan’s Leading Hotel Chain Operator
With a wide variety of hotels, from comfortable hotels designed for a betternight’s sleep to large-scale urban hotels providing meal and banquet
services at restaurants and luxurious hotels for enjoying the extraordinary,
we offer the best in hospitality tailored to our guests’ needs.

8Entertainment

Information andCommunication Technology

Producing dreams and excitement for people

Contributing to the development of society throughinformation and communications technology

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’.

SportsWe 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.

Information Services

HANSHIN Tigers

Hanshin Koshien Stadium

Itec Hankyu Hanshin

With an illustrious history andtradition, the Hanshin Tigers are
one of the most popular
Japanese professional baseballteams that attract the highest
numbers of spectators. By
thrilling crowds, the performanceof the team members has longcontributed to the developmentof baseball in Japan.

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. In view of2024, which will mark thecentennial of its opening, the stadium will continue to develop andretain its enduring appeal, building on its distinguished history.

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 otherareas of the medical field, and offers contract services in such areas as thedevelopment of high-quality software. By delivering assurance and comfort
in daily life and strengthening its solutions still further, the company aims toroll out services nationwide.

Broadcasting and Communications
Stage
Takarazuka Revue

Umeda Arts Theater

The Takarazuka Revue is one of the world’s most unique theatricalcompanies with its all-female cast. Since its debut performance in
1914, the revue has dazzled audiences with inspiration anddreams for more than 100 years. In addition to performing
year-round at the Takarazuka Grand Theater and the Tokyo
Takarazuka Theater and making theatre tours throughout Japan,
the revue company performs to overseas audiences, receiving
high acclaim both in Japan and abroad.

Umeda Arts Theater operates two theatres: the Main Hall, whichhas 1,905 seats, and the 898-seat Theater Drama City. It hosts awide variety of shows, including plays, musicals, concerts andTakarazuka Revue performances.

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.

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

Music

LeisureBillboard

Mt. Rokko

With a history of more than 100
years, Billboard is the mosttrusted music brand in the world.
Since concluding a license
agreement for Japan with
Billboard in 2006, we have beendeveloping an array ofbusinesses, including clubs.

Mt. Rokko is a popular leisuredestination, known as one ofJapan’s best viewing spots. It also
boasts a wide variety of leisurefacilities, including one of thelargest adventure playgrounds inJapan, ski slopes, an alpine
botanical garden, an observatory,
and museums.

9 Group Guide 2022

Education
ProgLab
ProgLab offers robot programming classes aimed at developing the abilityof children as future leaders to realise their ambitions by cultivating theirreasoning, problem-solving, and creative skills based on the methodology
of STEAM education.* Approximately 6,800 children currently attend
ProgLab classes. We also offer extension and extracurricular classes atschools.
* Educational methodology that enables children to learn science, technology, engineering, art, and mathematics in an integrated manner

10

TravelInternational Transportation

Creating safe and secure travel itineraries that cangratify customers’ desires

Delivering optimal logistics and high-quality global services

Since the establishment of our Travel Business in 1948, we have always valued customers’ viewpoints andresponded to their diversifying needs by taking advantage of our long-developed expertise.
Placing the highest priority on ensuring the safety and security of our customers, we will not only provide
high-value-added travel plans but also engage in businesses that are needed by society.

Overseas & Domestic Travel

International Airfreight Transportation
As Japan’s First IATA-Approved Cargo Agency,
Providing Reliable International Transportation Services

Offering Customers Unforgettable Journeys through Five Brands
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-made travel packages. These brands and their travel
packages are marketed through a wide range of channels, including
newspaper advertisements, magazines, the Internet, TV shopping,and TV advertisements. We also cater to increasingly diverse demandby developing domestic travel plans with an in-depth focus incollaboration with local communities around Japan. Moreover, we arepromoting DX by enhancing digital marketing.

Group Travel

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 tobe depended on by many businesses. We provide swift and reliable door
to door international freight services, both importing and exporting, throughcooperation with our more than 100 bases in 28countries and regions,overseas subsidiaries,and partnerships with contracted agencies.

International Maritime Cargo Transport

Business Travel

Providing Services Responding to Group Travel Needs

Supporting Safe and Comfortable Business Travel

We provide planning and proposal services for various types ofgroup travel, ranging from inspection tours, employee leisure trips,
training excursions, events and conventions, and other types ofgroup travel used bycompanies and otherentities, to school trips andother education-related
travel. In these services, wecall upon the experienceand insight gained
throughout our long history
to cater to our customers’
diverse needs.

We arrange for everything customers need to make business trips
around the world, including visas, air tickets, hotels, interpreters,and MICE tourism. Leveraging our vast experience and trackrecord, we offer
comfortable business travel
and thus provide total
support for customers’
overseas work andbusiness expansion.

Travel to Japan

By leveraging our track record and know-how garnered over more than 50 years as a pioneer in thedevelopment of transportation services overseas, we manage integrated air and sea freight transportationand 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.

Solutions

Conducting Tours of Japan with Exceptional
Attention to Detail

Providing a Wide Range of Back-office Solutions,
Including Call Centre Operations

We are developing and expanding new markets through ouroverseas offices in Europe, Singapore, and other locations. We
provide meticulous services
to satisfy customers who
travel to Japan for various
purposes, including
tourism, company visits,
and MICE.

Taking advantage of our long-developed know-how, we offer callcentre services that meet a wide range of needs, from on-site callcentre operations tonationwide receptionist
services. We also provide
other back-office solutions
for national and local
governments, and othercustomers.

Providing Door-to-Door Marine Transportation Services
for Both Imports and Exports
As a non-vessel operating common carrier (NVOCC), we provide
international maritime freight services by utilising our global network just as
we do for our airfreight services. We offer optimised door to door services
tailored to customer needs, including transportation services of FCL (fullcontainer load), LCL (less than container load), special containers andbreak bulk cargo, as well as import and export customs clearing andlogistics consulting services.

Logistics
Proposing and Achieving Optimal Logistics Solutions
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 throughcomprehensive support of the complete logistics process including storageand management at high-tech warehouses, distribution processing anddelivery. 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
Import or export of cargo must be granted clearance by declaring the content and quantity of cargo tocustoms. We excel at this complicated customs clearance process.
We have been granted customs clearing authorization by six commissioners of customs across Japan.
Our customs clearing professionals led by registered customs specialists deliver swift and effective
customs clearing based on compliance requirements. In 2017, we received certification as an Authorized
Customs Broker under the AEO* programme.
* 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

11 Group Guide 2022

12

■ Established: 19th October 1907

Hankyu Hanshin Holdings Group Summary■ Head Office: 1-16-1 Shibata, Kita-ku, Osaka 530-0012, Japan(As of 1st July 2022)

Core
Companies

Urban
Transportation■ Tokyo Office(Personnel and General Affairs Div.): Toho Hibiya Bldg., 17F, 1-2-2 Yurakucho, Chiyoda-ku, Tokyo 100-0006, Japan• HANKYU CORPORATION• HANKYU TRAVEL INTERNATIONAL CO., LTD.

• HANSHIN ELECTRIC RAILWAY CO., LTD.

• HANKYU HANSHIN EXPRESS CO., LTD.

• HANKYU HANSHIN LOGIPARTNERS Co.,Ltd.

• ALNA SHARYO CO., LTD.

• Nose Electric Railway Co.,Ltd.

• Hankyu Railway Service Co.,Ltd.

• IINA DINING CO.,LTD.

• Haks Hanshin Co., Ltd.

• Hanshin Sharyo Maintenance Co.,Ltd.

• Ikeda LPG inc.

• HANKYU KANKO BUS Co., Ltd.

• HANSHIN STATION NET CO.,LTD.

• Eki Retail Service Hankyu Hanshin Co., Ltd.

• Hankyu Commuterbus Management Co.,Ltd.

• Hanshin Taxi Co., Ltd.

• Osaka Hanshin Taxi Co., Ltd.

• Hankyu Style Labels Co.,Ltd.

• HANSHIN BUS CO.,LTD.

• OSAKA MOTOR TECHNOLOGY CO.,LTD.

• Hankyu Sekkei Consultant Ltd.

• Limousine Total Service Co.,LTD.

• KITA-OSAKA KYUKO RAILWAY CO.,LTD.

• Hankyu Taxi Inc.

• Railway Operation Hankyu Co.,Ltd.

• KOBE RAPID TRANSIT RAILWAY CO.,LTD.

• HANKYU DRIVING SCHOOL HATTORI RYOKUCHI• HK Electric Industries,Ltd.

• Tango Kairiku Kotsu Co., Ltd.

• Hankyu Bus Co., Ltd.

• NISHIOSAKA RAPID RAILWAY CO.,LTD.

• HANKYU HANSHIN MOTOR TECHNOLOGY CO.,LTD.

• Nishiyama Driveway Co., Ltd.

• Hankyu Hanshin Electric System Co.Ltd.

• Advance Development Co.,Ltd.

• Hankyu Hanshin Building Management Co., Ltd.

• Amanohashidate Hotel Co., Ltd.

• Hankyu Hanshin Real Estate Investment Advisors, Inc.

• Arima View Hotel Co.,Ltd.

• Hankyu Hanshin Hotels Co., Ltd.

• Umeda Center Building Co., Ltd.

• Hankyu Hanshin REIT Asset Management,Inc.

• Osaka Diamond Chikagai Co., Ltd.

• HANSHIN HOTEL SYSTEMS CO.,LTD.

• Kure Hankyu Hotel Co., Ltd.

[Overseas subsidiaries]• KEIHIN SERVICE CO.,LTD.

• HANKYU HANSHIN PROPERTIES SINGAPORE Pte.Ltd.

• Senri-Asahi-Hankyu-Building Administrative Co.,Ltd. • HANKYU HANSHIN PROPERTIES (THAILAND) CO.,Ltd.
• Dai-ichi Hotel Service Co.,Ltd.

• Hankyu Hanshin Properties USA LLC• Hankyu Nigawa Sports Garden Co., Ltd.

• HANKYU HANSHIN PROPERTIES VIETNAM CO.,Ltd.

• HANKYU HANSHIN ESTATE SERVICE CO.,LTD.

Entertainment

International
Transportation

Travel[Overseas subsidiaries]• HANKYU HANSHIN EXPRESS (MALAYSIA) SDN. BHD.

• HANKYU HANSHIN EXPRESS (USA) INC.

• 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(SHANGHAI) CO., LTD.

• HOT Logistics Co., Ltd.

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

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• 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• HS Holdings Co.,Ltd.

• Hankyu Construction Management,Inc.

• Hankyu Hanshin Clean Service Co.,Ltd.

[Other organisations]• Hankyu Hanshin High Security Service Co.,Ltd.

• Urban Innovation Institute• Hankyu Hanshin Housing Support Ltd.

• 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• TAKARAZUKA LIVE NEXT Co.,Ltd.

Information andCommunication
Technology• HANKYU HANSHIN EXPRESS (SINGAPORE) PTE. LTD.
• HANKYU HANSHIN EXPRESS (THAILAND) CO., LTD.

• Hankyu Hanshin Properties Corp.

• Kyokuto Co.,Ltd.

Real Estate■ Paid-in Capital: ¥99,474 million■ Registered Head Office: 1-1 Sakaemachi, Ikeda-shi, Osaka 563-0056, Japan• ITEC SOFTWARE CO.,LTD.

• System giken Co.,LTD.

• Bay Communications Inc.

• ITEC HANKYU HANSHIN CO.,LTD.

• NIHON PROTEC CO.,LTD.

• Mimamorume Co.,Ltd.

• Rworks, Inc.

• HANSHIN CABLE ENGINEERING CO.,LTD.

• YMIRLINK Inc.

• FM KITA INC.

• Himeji Cable Television Co.,Ltd.

• BAN-BAN Networks Co.,Ltd.

• AIRSERVE Co.,Ltd.

[Overseas subsidiaries]• Tabicoffret Co., Ltd.

• HANKYU INTERNATIONAL CHINA CO.,LTD.

• Hankyu Travel Support Co., Ltd.

• HANKYU HANSHIN BUSINESS TRAVEL INDIA PVT. LTD.

• HANKYU HANSHIN BUSINESS TRAVEL CO.,LTD.

• HANKYU MIRAI BUSINESS PARTNERS VIETNAM CO., LTD.

• HANSHIN TRAVEL INTERNATIONAL CO.,LTD.

• HANKYU TRAVEL INTERNATIONAL EUROPE S.R.L.

• HOPS Co., Ltd.

• HANKYU TRAVEL INTERNATIONAL EUROPE UK LTD.

• Hankyu Hanshin Card Co.,Ltd.

[Other organisation]• Hankyu Hanshin Business Associate Co., Ltd.

• Hankyu Culture Foundation

Hankyu Hanshin Toho GroupThe 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: 195 companies, 5 organisations
Group employees: 35,964
Group sales: ¥1,493 billion

Hankyu Hanshin
Holdings Group

Hankyu Hanshin
Toho Group
Toho GroupH2O RetailingGroup[As of 31st March 2022]• HANKYU TRAVEL INTERNATIONAL SINGAPORE PTE.LTD.

13 Group Guide 202214