Hankyu Hanshin Holdings Group
Supplementary Materials ofFinancial Results for the First Quarterof Fiscal 2020(Ended June 30, 2019)
August 2nd, 2019
Hankyu Hanshin Holdings, Inc.
9042 http://www.hankyu-hanshin.co.jp/en/

Consolidated Statements of Income(Summary)
1Q FY2020
Results

FY2019Results

ChangeConsolidated Subsidiaries
Equity-Method Affiliates
Total

96 companies
11 companies
107 companies

94 companies +2 (2 companies increase)
11 companies
105 companies +2(¥ million)

1Q FY2020
Results

1Q FY2019
Results

187,161

192,429-5,267 (-2.7%)

30,88831,578-689 (-2.2%)

Non-operating income

4,043

2,563+1,480

Non-operating expenses

2,744

2,939-194

32,18831,202+985(+3.2%)

Extraordinary income

460

650-190Extraordinary loss

446

1,820-1,374

Revenues from operations
Operating income

Ordinary income

Net income attributable toowners of the parent

21,395
1Q FY2020
Results（Reference）

ChangeRemarks
For details,
please see next page
Equity in income of affiliates +1,506

Loss on retirement of noncurrent
assets -904

19,197 +2,198 (+11.5%)
1Q FY2019
Results

ChangeDepreciation and amortisation

13,474

12,973+500Financial balance ① - ②-1,532-1,564+31

Interest and dividend income①819858-39

Interest expense②

2,3522,422-701

Consolidated Statements of Income (Breakdown for each business segment)[Key results in current period]
Revenue and income declined on the whole. The Travel business achieved excellent results foroverseas and domestic destinations. Results were also strong in the Entertainment business and in
the Information and Communication Technology business. However, these results were offset by adecline in the Real Estate business reflecting decreased condominium sales. They were further offset
by a decline in the International Transport business, which faced harsh business conditions.
(¥ million)

Revenues from operations
1Q FY2020
Results

1Q FY2019
Results

Operating income
Change1Q FY2020
Results

1Q FY2019
Results

ChangeUrban Transportation

60,12559,563+561

12,862

12,795+66

Real Estate

48,70854,124-5,416

8,106

11,085-2,978Entertainment

23,00522,547+458

7,918

7,306+612

Information andCommunication Technology

11,232

10,610+621

480

255+225

Travel

11,0049,231+1,773

2,091

543+1,547InternationalTransportation

19,13521,886-2,751-216

291-508

Hotels

16,233

16,201+32

291

280+11

Other

6,680

7,505-825

159

194-34

Adjustment-8,963-9,241+277-805-1,174+368

187,161

192,429-5,26730,88831,578-689

Total※The “Information and Communication Technology” was newly created in the quarter under review (Q1 FY2020). Previously, thebusiness was called ‘Communication, Media and Others’ and existed within the “Entertainment and Communications”, which itself has
been renamed to the “Entertainment”. The purpose of the change was to boost competitiveness.
Following this change, there are now seven reportable core businesses: Urban Transportation, Real Estate, Entertainment (formerlynamed Entertainment and Communications), Information and Communication Technology, Travel, International Transportation, andHotels. The Q1 FY2019 data used for year-on-year comparisons has been adjusted according to the new business segment structure.

2Urban Transportation results
Revenue and income increased. Hankyu and Hanshin lines performed well, more thanoffsetting an increase in railway costs (e.g. depreciation and amortisation).
(¥ million)

1Q FY2020
Results

1Q FY2019
Results

Change%Revenues from operations

60,12559,563+561+0.9%

Operating income

12,862

12,795+66+0.5%Real Estate results
Revenue and income declined. Condominium sales revenue decreased following sales ofhigh-value condominiums in 1Q FY2019. There was a further reactionary decline
following the receipt in 1Q FY2019 of tenants’ construction fees associated with Phase Iof the Umeda 1-1 Project.
【Reference】 Condominium sales：+39（283 units; previous year 244 units）(¥ million)

1Q FY2020
Results

1Q FY2019
Results

Change%Revenues from operations

48,70854,124-5,416-10.0%

Operating income

8,106

11,085-2,978-26.9%
3

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

Passenger volumes (Thousands)*

1Q FY2020
Results

1Q FY2019
Results

Commuter pass

8,648

8,598+49(+0.6%)

89,12688,556+570(+0.6%)

Workers

7,354

7,305

+48(+0.7%)

60,41759,939+478(+0.8%)

Students

1,294

1,293

+1(+0.1%)

28,70828,617+91(+0.3%)

Other tickets

16,33915,790+549(+3.5%)

81,98980,230 +1,758(+2.2%)

Total

24,98824,389+599(+2.5%)

171,116

168,787 +2,329(+1.4%)

Change1Q FY2020
Results

1Q FY2019
Results

ChangeHanshin Electric Railway
Fare revenues (¥ million)*

Passenger volumes (Thousands)*

1Q FY2020
Results

1Q FY2019
Results

Commuter pass

3,095

3,036+58(+1.9%)

32,247

31,660+586(+1.9%)

Workers

2,755

2,700+54(+2.0%)

25,112

24,615+496(+2.0%)

Students

340

335+4(+1.3%)

7,135

7,045

+90(+1.3%)

Other tickets

5,800

5,603+196(+3.5%)

31,59630,793+803(+2.6%)

Total

8,895

8,640 +255 (+3.0%)

63,84462,453 +1,390(+2.2%)

Change1Q FY2020
Results

1Q FY2019
Results

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

4

Entertainment results
Revenue and income increased. The stage business saw an increase in showrelated merchandise. Similarly, the sports business enjoyed strong revenue
from ticket sales and from sales of food, drink, and merchandise.
(¥ million)

1Q FY2020
Results

1Q FY2019
Results

Change%Revenues from operations

23,00522,547+458+2.0%

Operating income

7,918

7,306+612+8.4%

Information and Communication Technology results
Revenue and income increased. The broadcast and communications businessbenefitted from an increase in subscriptions for online services.

(¥ million)
Revenues from operations
Operating income

1Q FY2020
Results

1Q FY2019
Results

11,232

10,610480

255

Change+621%+5.9%+225 +88.3%
5

Travel results
Revenue and income increased. The travel business benefitted from a longerthan-usual Golden Week holiday period, with strong numbers to European anddomestic destinations.
(¥ million)

1Q FY2020
Results1Q FY2019
Results

Change%Revenues from operations

11,0049,231+1,773+19.2%

Operating income

2,091543+1,547+284.9%

International Transportation results
Revenue and income declined. Amid the US-China trade dispute, the airtransport business experienced sluggish volumes, particularly in East Asia.

(¥ million)
Revenues from operations
Operating income

1Q FY2020
Results

1Q FY2019
Results

Change%19,13521,886-2,751-12.6%-216

291-508―6Hotels results

The impact of outsourcing the restaurant business
Revenues from operations : -0.9billion yen

Revenue and income increased. Revenue was negatively affected byoutsourcing the restaurant business. However, the effects were more thanoffset by the opening of new hotels (remm Tokyo Kyobashi and Hotel Hanshin
Annex Osaka), as well as by a boost to existing hotels’ revenue from the G20.
This boost also helped prevent income from being undercut by the costs of thenew hotel openings.
(¥ million)
Revenues from operations
Operating income

1Q FY2020
Results

1Q FY2019
Results

Change%16,233

16,201+32+0.2%

291

280+11+4.1%

7Consolidated Balance Sheets
1Q FY2020
ResultsNet assets

Liabilities

Assets(¥ million)

FY2019Results

ChangeRemarks

Current assets

284,313302,963-18,650 Trade receivables:-20,492

Noncurrent assets

2,168,497

2,163,259+5,237 Investment securities:+7,526

Total assets
Current liabilities
Long-term liabilities

2,452,810 2,466,223
376,312
1,149,865

404,286
1,146,555-13,413-27,974+3,3091Q
FY2020Results

FY2019Results

Debt

748,748

758,411

Bonds

112,000

112,000-8,245

6,644+1,600868,993877,055-8,062

Lease obligations
Interest-bearing debtTotal liabilities

1,526,177 1,550,842-24,664

866,636

853,397

Accumulated othercomprehensive income

29,41531,465-2,049Non-controlling interests

30,58030,517+62

Equity ratio

926,632
36.5%-9,663

Accounts payable:-29,835

Net income attributable to owners of theparent:+21,395+13,238 Payment dividend:-4,925
Less treasury stock, at cost:-2,736

Shareholders’ equity

Total net assets

Change915,381 +11,25135.9%+0.6p8