Hankyu Hanshin Holdings Group
Supplementary Materials ofFinancial Results for the First Quarterof Fiscal 2021
(Ended June 30, 2020)
August 12 th, 2020
Hankyu Hanshin Holdings, Inc.
9042 https://www.hankyu-hanshin.co.jp/en/

Consolidated Statements of Income(Summary)
1Q FY2021
Results

FY2020Results

ChangeConsolidated Subsidiaries
Equity-Method Affiliates
Total

97 companies
11 companies
108 companies

93 companies +4 (4 companies increase)
11 companies
104 companies +4(¥ million)

1Q FY2021
Results

1Q FY2020
Results

Revenue from operations

111,286

187,161-75,875 (-40.5%)

Operating income-13,20930,888-44,098 (－)

Non-operating income

1,128

4,043-2,915

Equity in income of affiliates -2,837

Non-operating expenses

3,298

2,744+554

Equity in losses of affiliates +560

-15,379

32,188-47,567 (－)

258

460

-201

Extraordinary loss

10,389446+9,943

Net income attributable toowners of the parent-18,900

21,395-40,296 (－)（Reference）

1Q FY2021
Results

COVID-19 impact-87.5billion yen-46.5billion yen

Ordinary income
Extraordinary income

1Q FY2020
Results

ChangeRemarks

ChangeDepreciation and amortisation12,700

13,474-773

Financial balance ① - ②-1,704-1,532-171Interest and dividend income①552

819-266

Interest expense②

2,256

2,352

-95

For details,
please see next page

COVID-19-related losses +10,094

Tax expense -17,279
We have applied the note “Audit
Consideration related to COVID-19
Part 4” (JICPA, April 22, 2020) tooperations and events that wesuspended/cancelled at the requestof authorities. Specifically, we haverecognized as extraordinary loss all
fixed costs incurred during thesuspension of said operations andall costs directly associated with thepreparation and cancellation of said
events.

1

Consolidated Statements of Income (Breakdown for each business segment)[Key results in current period]
Revenues and income fell significantly with most business segments hit hard by COVID19 (details shown on next slide).

(¥ million)

Revenue from operations
COVID-19 impact-24.7billion yen

1Q FY2021
Results

Urban Transportation

1Q FY2020
Results

Operating income
Change1Q FY2021
Results

1Q FY2020
Results

Change31,52960,125-28,595-19.6billion yen-7,187

12,862-20,050

Real Estate-11.0billion yen

42,30348,708-6,404-3.4billion yen

7,865

8,106-241

Entertainment-20.1billion yen

3,530

23,005-19,474-10.7billion yen-2,602

7,918-10,520

12,45911,232+1,226810

480+330125

11,004-10,879-4,903

2,091-6,994

18,814

19,135-321

12-216

+228

2,142

16,233-14,090-5,196291-5,488

Other

9,004

6,680

+2,324-211

159-371

Adjustment-8,623-8,963+339-1,796-805-990

111,286

187,161-75,875-13,20930,888-44,098

Information andCommunication Technology
Travel-12.9billion yen

InternationalTransportation
HotelsTotal-14.9billion yen-87.5billion yen-7.4billion yen-5.0billion yen-46.5billion yen

2How COVID-19 Impacted Each Businesses■COVID-19 impact in each business<Breakdown for each business segment>
Total（¥ billion)

Urban
Transportation

Real EstateEntertainment

TravelHotels

Revenue from operations

-87.5

-24.7

-11.0

-20.1

-12.9

-14.9

Operating income

-46.5

-19.6

-3.4

-10.7

-7.4-5.0

Ordinary income

-46.6

-19.6

-3.4

-10.7

-7.4

-5.1

Extraordinary income

0.00.0ー

0.00.0ーExtraordinary loss ※

10.1

0.6

2.2

3.1

2.2

2.6

Income before incometaxes

-56.7

-20.2

-5.6

-13.8

-9.5

-7.7

※ We have applied the note “Audit Consideration related to COVID-19 Part 4” (JICPA, April 22, 2020) to operations and events that we suspended/cancelled
at the request of authorities. Specifically, we have recognized as extraordinary loss all fixed costs incurred during the suspension of said operations and all
costs directly associated with the preparation and cancellation of said events.

■ How COVID-19 impacted each business
UrbanTransportation

・Less revenue with fewer people going out during SOE and drop in inbound tourism

Real Estate・Leased facilities closed or operating with reduced hours; domestic condominium businessseeing less leasing/sales revenue after suspending sales activities

Entertainment

・Pro baseball season postponed, Takarazuka Revue performances cancelled

Travel・Domestic and international tours suspended; surge in cancellations

Hotels・Inbound demand curtailed by international travel restrictions; domestic tourist demand hit bytravel/outing cancellations
3Urban Transportation results

COVID-19 impact
Revenue from operations︓-24.7billion yen
Operating income︓-19.6billion yen

Revenue and income fell significantly due to COVID-19. The railway operations andautomobile businesses were hurt by steep reduction in travel. Earnings were further hit
by last August’s outsourcing of convenience store and station-based store operations.
(¥ million)

1Q FY2021
Results

Revenue from operations
Operating income

1Q FY2020
Results

Change%31,52960,125-28,595-47.6%-7,187※ (-7,787)

12,862-20,050※ (-20,649)

ー(ー)※ Parenthesized figures indicate reversals of COVID-19-related losses and subsidies recorded as extraordinary income.
COVID-19 impact
Revenue from operations︓-11.0billion yen
Operating income︓-3.4billion yen

Real Estate results

Revenue and income fell due to COVID-19. Many shopping facilities in Umeda andelsewhere were temporarily closed or operated with reduced hours.
(¥ million)

1Q FY2021
Results

1Q FY2020
Results

Change%Revenue from operations

42,30348,708-6,404-13.1%

Operating income

7,865(5,622)

8,106-241※ (-2,484)-3.0%(-30.6%)※※ Parenthesized figures indicate reversals of COVID-19-related losses and subsidies recorded as extraordinary income.

4

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

Passenger volumes (Thousands)*

1Q FY2021
Results

1Q FY2020
Results

Commuter pass

6,776

8,648

-1,871(-21.6%)

64,717

89,126-24,408(-27.4%)

Workers

6,417

7,354-937(-12.7%)

54,71360,417-5,703(-9.4%)

Students

359

1,294-934(-72.2%)

10,00428,708-18,704(-65.2%)

Other tickets

7,108

16,339-9,231(-56.5%)

36,667

81,989-45,322(-55.3%)

Total

13,88524,988 -11,103(-44.4%)

101,385

171,116-69,731(-40.8%)

Change1Q FY2021 1Q FY2020
Results
Results

ChangeCOVID-19 impact -11.2billion yen

Hanshin Electric Railway
Fare revenues (¥ million)*

Passenger volumes (Thousands)*

1Q FY2021
Results

1Q FY2020
Results

Commuter pass

2,531

3,095-563(-18.2%)

25,41632,247-6,831(-21.2%)

Workers

2,428

2,755-326(-11.8%)

22,784

25,112-2,327(-9.3%)

Students

102

340-237(-69.7%)

2,631

7,135-4,503(-63.1%)

Other tickets

2,436

5,800

-3,363(-58.0%)

13,86831,596-17,727(-56.1%)

Total

4,968

8,895-3,927(-44.1%)

39,284

63,844-24,559(-38.5%)

Change1Q FY2021 1Q FY2020
Results
Results

ChangeCOVID-19 impact -4.0billion yen＊ 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.

5Entertainment results

COVID-19 impact
Revenue from operations︓-20.1billion yen
Operating income︓-10.7billion yen

Revenue and income fell significantly due to COVID-19. The sports business was hurt bysuspension of Hanshin Tigers’ regular season games. The stage business was hurt bysuspension of all Takarazuka Revue shows.
(¥ million)
Revenue from operations
Operating income

1Q FY2021
Results

1Q FY2020
Results

Change%3,530

23,005-19,474-84.7%-2,602※ (-5,718)

7,918-10,520※ (-13,637)

ー(ー)※ Parenthesized figures indicate reversals of COVID-19-related losses and subsidies recorded as extraordinary income.

Information and Communication Technology results
Revenue and income increased. The information services business gained more bigorders for transport systems.
(¥ million)
Revenue from operations
Operating income

1Q FY2021
Results

1Q FY2020
Results

Change%12,45911,232+1,226 +10.9%810

480+330 +68.8%

6

Travel results

COVID-19 impact
Revenue from operations︓-12.9billion yen
Operating income︓-7.4billion yen

Revenue and income fell significantly due to COVID-19. International anddomestic tours were suspended throughout the period.
(¥ million)
Revenue from operations
Operating income

1Q FY2021
Results

1Q FY2020
ResultsChange%

125

11,004-10,879-98.9%-4,903※ (-7,052)

2,091-6,994※ (-9,143)ー(ー)※ Parenthesized figures indicate reversals of COVID-19-related losses and subsidies recorded as extraordinary income.

International Transportation results
Revenue fell with COVID-19 undercutting air transport volume. However,income increased thanks to rise in emergency transportation in East Asia andmore logistics operations in Japan.
(¥ million)
Revenue from operations
Operating income

1Q FY2021
Results

1Q FY2020
Results

Change%18,814

19,135-321-1.7%

12-216+228―7Hotels resultsCOVID-19 impact
Revenue from operations︓-14.9billion yen
Operating income︓-5.0billion yen

Revenue and income fell significantly due to COVID-19. Some hotels
temporarily closed, and fewer people stayed at hotels and went to restaurants.
(¥ million)
Revenue from operations
Operating income

1Q FY2021
Results

1Q FY2020
Results

Change%2,142

16,233-14,090-86.8%-5,196※ (-7,773)

291-5,488※ (-8,065)

ー(ー)※ Parenthesized figures indicate reversals of COVID-19-related losses and subsidies recorded as extraordinary income.

8Consolidated Balance Sheets
1Q FY2021
Results

Net assets

Liabilities

Assets(¥ million)

FY2020Results

Current assets

253,991

262,984

Noncurrent assets

2,214,279

2,226,097

Total assets

2,468,271 2,489,081

ChangeTrade receivables︓-19,639-8,992 Land and buildings for sale : +7,228
Property and equipment and-11,817 intangible assets : -23,553

Investment securities : +10,785-20,810

Current liabilities

374,383

394,634-20,251

Long-term liabilities

1,169,266

1,156,774+12,491

Total liabilities

1,543,649 1,551,409

Remarks-7,7591Q
FY2021Results

FY2020Results

ChangeDebt

746,337

773,465-27,127

Bonds

122,000

122,000ー

Commercial paper

60,000ー+60,000

Lease obligations

7,950

8,014

-63

936,288

903,480+32,808

Interest-bearing debt

Accounts payable:-43,892

Net income attributable to owners of the

Shareholders’ equity

861,828

886,935-25,107 parent:-18,900

Accumulated othercomprehensive income

21,62818,711+2,917

Non-controlling interests

41,16432,025+9,139924,621937,672-13,051

35.8%

36.4%

-0.6p

Total net assets
Equity ratio-Payment dividend:-6,094

9Forecast and dividend of surplus for fiscal 2021
■Forecast for fiscal 2021 (fiscal year ending 31st March 2021)•COVID-19 has impacted many of our businesses. Results for fiscal 2021 will
depend to a great extent on the duration and scale of the impacts.

•The outlook remains cloudy for most business segments. With COVID-19 cases
rising again, it is uncertain how quickly normal travel will resume, how muchsocial distancing there will be, and when international travel (including inbound)
will recover.

•As the duration and scale remain unclear, we cannot give reasonable full-year
forecasts at this time. Once we have a clearer picture, we will announce theforecasts without delay.

■Specific figures for dividend of surplus for fiscal 2021•

Since we expect to avoid the worst-case scenario, we will maintain ourcommitment to stable dividends in FY2021. Specifically, the annual dividend pershare will be 50 yen (25 yen interim + 25 yen year-end).

10

【Reference】 Recent performance in railways《Hankyu Corporation》《Hanshin Electric Railway》

Year-on-year change in ridershipYear-on-year change in ridership

（％）

（％）

0.00.0△ 20.0△ 20.0△ 40.0△ 40.0△ 60.0△ 60.0△ 80.0△ 80.0

JanFebMar

Commuter pass

AprMayJun
Jul（Preliminary data）
Other tickets

JanFebMar

Commuter pass

AprMayJun

Jul（Preliminary data）

Other tickets

11