Summary of the Medium-Term Management Plan

Excerpt from Results Briefing Materials for Financial Results
0 for
Fiscal 2024 (Ended March 2024)

Long-Term Vision : Toward 2040
Under our long-term vision, our group will work as one to transform
into the organization we aspire to be
The slogan for the Long-Term Vision︓

Enhancing Line-side areas and expanding fields

among the Kansai networks

Expand the coverage of
our line-side business
model

Strategy Make our content as
2compelling as possible

Safe, comfortableurban life
Inspiringexperiences
High-quality businesssupportStrategy Increase market share by providing high4
value-added services

Hankyu Hanshin DX ProjectContribute to SDGs, 2050 carbon neutrality goal

We sustainably enhance
corporate value

Strategy3

Better customer
satisfaction

Make our line-side communities

Strategy
the absolute best
１

Contribute to asustainable society
and to be a
corporate groupthat grows
alongside thecommunity

Maintain financial health / Keep capital costs in mind

KPIs for FY2031
FinancialBusiness profit*
Interest-bearing debt
/ EBITDA ratio
ROE¥130.0 billion (plus something extra)
5 to 6
7% range over med-long term

Non-financial
Rate of CO2 emissions cuts from
FY2014 level:
Culpable incidents in our railway
business:
Employee satisfaction:% of women in management
positions:% of women among new hires:

-46%
Zero
Always better than inprevious survey
around 10%
Always more than 30%

Extra: Accumulated gains fromDX Project and other initiatives

2035–2040: Large project tostart driving further growthProfit mainly fromexisting businesses¥ 130.0 bn¥ 130.0 bn¥ 118.0 bn（FY2026 goal)
FY2026

FY2031* Business profit = Operating profit + Equity-method gains/losses related to overseas business investments (in Real estate)

AROUND
2035

AROUND
2040

1

Long-Term Management Vision (Background Considerations)
・In 2022, the Group established its “Long-Term Vision: Toward 2040” under the slogan “Enhancing line-side
areas and expanding fields”. While progress has been made in each strategic area, environmental changes
have been greater than anticipated, and are expected to continue to accelerate.
[Anticipated environmental
changes in the future]・Accelerated population decline
・Lifestyle changes《Business》 ・Difficulty in securing
・Rising costs・Internationalization of Kansai
human resources《Social》

・Our reason for being (mission) lies in delivering “Safety and Comfort” and “Dreams and Excitement” andenrich lifestyle in line-side areas.
・In order to achieve growth for the Group while contributing to local communities amidst theabovementioned environmental changes, it is vital that we look to actively develop new markets to secureand maintain a stable capacity to generate capital, while growing profits and improving capital efficiency
to earn a stable reputation in capital markets.

To shift in this direction, (as one means of doing this) we aim to“transform into a corporate group capable of delivering a sustainable ROE of 8%”.

2

Direction of Further Review Towards Achieving Reforms
・Achieving the kind of business transformation described on the previous page requires an approach inwhich we separate the areas where we should and shouldn’t focus on more to the allocation of capital,
human resources, and other management resources.
・This will require further review of the long-term management vision of the Group from a businessportfolio perspective, which will be used as a springboard for further discussion concerning the business,finance, and human resources challenges presented, and the future direction of the Group.
Business portfolio
perspectives

Develop a business portfolio (allocation of capital and human resources)
while accounting for market potential, competitive advantages of theCompany, synergies between businesses, and the target ROIC

Financechallenges

Businesschallenges

 Capital allocation that strives tobalance growth investment andfinancial soundness

 Establish market-based businessclassifications, and tailor initiatives toeach market
 Grow profits in ways that are notsimply an extension of previous
business activities, such as by adopting
a proactive approach to new markets

 Capital structure/ROIC review
considering the target ROE, etc.

Human
resource
challenge In the face of stern challenges
in securing human resources,continue to invest in humancapital as a source of growth Promote initiatives tied to
improving productivity
3Addressing Finance Challenges (Aiming to achieve an ROE of 8x range in the future)
・Realizing a stable management base and enriching the lifestyles of line-side areas requires a high level ofapproval from capital markets. To achieve this, we will look to the use of leverage with a view toimproving ROIC.
・In order to access the stable financing needed requires the Company to establish a level of trust amongits creditors. To maintain a financial soundness (credit rating) that is among the highest for private
railways operators, we aim to achieve an interest-bearing debt/EBITDA ratio (hereafter, D/EBITDA) of 5x
range (or maintain in the 6x range should investment costs temporarily peak).
Raise ROIC while reviewing
appropriate D/E ratio and
D/EBITDA levels.
D/E
ratio

Further improve
ROE.

ROE
8%-9%

FY2020 (results)
D/E ratio: 1.0x
D/EBITDA: 5.9x

ROE
6%-7%

ROE
7%-8%

ROIC
4

Addressing Business Challenges (Future Direction)• In order to make our line-side communities the absolute best among the Kansai networks, even amidst continued
contraction in existing markets, we need to move ahead with plans for large-scale projects, such as new rail links(Naniwasuji Connection Line/Shin-Osaka Connection Line), and the Shibata 1 Project.
• As we move forward with these projects, we hope to grow profits in ways that are not just an extension of existing
business activities to meet the expectations of capital markets. To achieve this, we will look to delve deeper in existing
markets, with a focus on line-side areas (maximizing cash generation capabilities in existing markets), while considering
ways we can leverage the strengths and competitive advantages of the Group to identify growth markets and promote “aproactive approach to capturing new markets”.
Existing (mature) markets New (growth) markets(1)E.g.) Railway (existing lines), realestate (existing Umeda/lineside leasing activities)E.g.) Railway (new rail links), realestate (Shibata 1 Project)(3)

Maximize cash generation
capabilities in light ofchanges in the demand
structure

Initiatives to attract newcustomers to existing
business models

(2)

(4)

Projects to “make our lineside communities theabsolute best among the
Kansai networks”

Enter new growth markets(self-initiated)E.g.) Inbound travel(railway, hotels, etc.)E.g.) Overseas real estate5Long-Term Vision for Business Expansion
We aim to grow profit, and secure and maintain a stable capacity to generate capital, as shown in theimage below.
Use “a cumulation of past efforts” as a springboard to “accelerate atransformation” with the aim of achieving growth that is not just an extension of
past business endeavors (non-consecutive growth)

Scale ofprofits

Existing (mature) markets

New (growth) markets

Maximize cash generation
capabilities in light ofchanges in the demand
structure

Initiatives to attract newcustomers to existing
business models

Projects to “make ourline-side communities
the absolute best among
the Kansai networks”

Enter new growth markets(self-initiated)

Entry into new
growth markets

Entry into business fields expected to grow

Expansion of business fields and areasusing know-how accumulated acrossbusinesses (overseas real estate, etc.)
Demonstrate the effects of projects intended to “makeour line-side communities the absolute best among the
Kansai networks” (new rail links, Shibata 1 Project, etc.)

Extension of existing business lines(Assuming existing businesses grow to theirmaximum potential)

Initiatives to attract new customers to existing businessmodelsIn existing businesses, maximize cash generation
capabilities in light of changes in the demand structure

・Shrinking of existing markets
・Investing in projects to “make our railway theabsolute best among the Kansai networks”

Future6

Time Period Covered and Context of the Medium-Term Management Plan
Time period covered•

Four-year period from FY2023 to 2026

Context•

The four-year period will be a time for adapting to the drastic external changes and steadily
returning to a pre-COVID growth trajectory. During this period, we aim to raise our profit level to¥100 billion as soon as possible.

•

We will also use the period to take concrete actions under our long-term strategic vision that willbuild sustainable profit growth. As part of this, we will increase investment in our overseas realestate business and condominium business to create a foothold for future growth.

•

In terms of the strategies and measures to be adopted in line with the long-term management
vision that are currently under review, this period will be positioned as a period for establishing thefoundations for growth towards achieving dynamic growth and an ROE of 8% in the future.

7

Roadmap to FY2026
Until FY2024, we worked to steadily restore profit in our existing businesses while drawing upon the outcomes of actions
to strengthen the revenue structure taken during the pandemic.
To gain the growth momentum necessary for achieving our FY2026 goal, we will deliver outcomes from our recent
business projects (Osaka Umeda Twin Towers South, overseas real-estate business).
Meanwhile, we will plant seeds for growth that will sprout in FY2026 and beyond (including more investment in ourdomestic real-estate business (for sale property and equity) and overseas real estate business, DX Project).
Profit (= Operating profit in FY2023 and earlier years, and Business profit* thereafter)(¥ billion)

FY2024120.0¥108.3 bn

100.0

FY2026¥118.0bn

Further growthBaseline profit:¥100.0 bn
95.2

80.0

Increase
investment
for growth

89.4
Covid impact¥100.0 bn loss

60.0
40.0

39.2

20.0
2.1

0.0
2019

2020

2021

2022

2023

2024

2025

2026

…

2031

(FY)

*Business profit = Operating profit + Equity-method gains/losses related to overseas business investments (in Real estate)
In FY2023 and earlier years, we had no equity-method affiliates in our overseas businesses. Thus, for those years, Operating profit = Business profit.

8

Business Profit Trends Toward FY2026
FY2026 profit targets compared with pre-Covid (FY2019) profit level(¥ billion)

Temporary factors,
including special demandfor professional baseball

114.9

108.3

Entmt &
Others
20.9

118.0
107.0

Entmt &
Others22.4

5.7
Entmt &
Others20.2

Entmt & Others
21.6

SpecialfactorIncludingoverseas realestate of 5.8 bn

RE
54.2

A market recovery, to a certain extent, in the International Transportation segment through to thesecond half, particularly in air transport➘ Decline in profit resulting from the tapering off of the special demand seen for professional
baseball / Drop off in profit in the solutions business in the Travel segment

segment/Increase in costs associated with reorganizing the structure of the
Takarazuka
Revue,
etc.terms when excluding temporary factors (a reaction to the special
Profitincreasein realdemand for professional baseball: -37; drop off in profit in the solutions business in theTravel segment: -20).

RE
60.8
RE
52.4

➚ Bigger scale in the Real estate segment (e.g. condominium business)

Increase in depreciation, power costs, and other miscellaneous expenses in the Urban Transportation+4.4 bn inreal-terms

RE
50.5（special factor*
included）＋¥4.4 bn inreal-terms

FY2024 results to FY2025 forecasts -¥1.3 bn

Including overseas realestate of 10.0 bn

FY2025 forecasts to FY2026 targets +¥11.0 bn
in railway operation revenue following a recovery in demand and the hosting of the World➚ Increase
Expo/Expand scale of the overseas real estate business/Expand scale of the ocean freight and logistics
business in the International Transportation segment

Business profit trends by core business

Includingoverseas realestate of 6.1 bn

FY2019FY2024FY2025

FY2026

Results

Results

Forecasts

Targets

114.9

108.3

107.0

118.0

Urban Transportation

43.5

34.3

32.6

34.8

Real Estate

50.5

52.4

54.2

60.8

Entertainment

13.4

14.1

8.8

10.2

Information andCommunication Technology

5.3

6.1

6.7

8.0

Travel

1.8

5.0

3.0

3.0

International Transportation

2.4

0.2

1.2

3.5

Total
[Breakdown for each business segment]

UT
43.5

FY2019Results

Operating Profit

UT
34.3

UT
32.6

UT
34.8

FY2024
Results

FY2025
Forecasts

FY2026
Targets

Business Profit

Business Profit

Business Profit*Special factor= Profit from sale of land for facilities in the eastern section of Saito(Ibaraki, Osaka Pref.)9Image of Cash Flow Allocation
The approach to cash allocation in this plan is outlined below:
・Implement maintenance and renewal investments within the scope of depreciation.
・Expand growth investment, particularly in the Real Estate segment, to expand the business in FY2027 and beyond.
・Secure funding for this increased investment through additional borrowings and asset sales, in addition to retained earnings.

Current Medium-Term Management Plan
period (FY2023 - FY2026)

Inflows

Depreciation andAmortization(¥ billion)

Outflows

260.0

Investment in maintenanceand renewal
240.0

Next Medium-Term Management
Plan Period
Inflows
Depreciation andAmortizationＥ Ｂ ＩＴ Ｄ Ａ

Ｅ Ｂ ＩＴ Ｄ Ａ

Return to Shareholders,Interest expense,tax payment etc
170.0
Business Profit
420.0

Domestic real estate

Asset sales

30.0

Additional borrowing etc.
210.0

Growth investment

690.0

520.0

Business Profit(For sale property and equity)

Expansion⇗

Overseas real estate
Expansion⇗

OthersGRAND GREEN OSAKA,
Hanshin Tigers new farm facility etc.

Increase ininvestment
leading toincreasedbusiness profit

Increase inbusiness profit ⇗Increase inbusiness profit
leading to further
growthinvestment

10[Reference] Cash Flows
Cash Allocation Strategy‧In line with the strategy described on the previous page, we have added ¥130.0 billion in growth investment,
focusing on the Real Estate segment, with a view to expanding the business in FY2027 and beyond.
‧This is expected to bring the total cash outflow for the period to around ¥930.0 billion.
‧Although our EBITDA for this period of the plan increased by ¥20.0 billion to around ¥690.0 billion, this results ina shortfall of around ¥240.0 billion. This shortfall will be covered by additional borrowing and asset sales.

Projected cash flows for FY2023–FY2026 period
Previous plan
Current plan

Inflows

Strategic investment
framework

EBITDA
670.0

Additional borrowing etc.

120.0

Inflows

Outflows

Growthinvestment(¥ billion)

Outflows-30.0-360.0EBITDA
690.0

Growthinvestment-520.0790.0

Maintenance CapEx(investment inmaintenance andrenewal of existing
infrastructure)-240.0Return to Shareholders,Interest expense, tax
payment etc.

-160.0Plus 20.0 bn in interestbearing debt from new
consolidations*Growth investment includes net increases in for-sale property and equity.

930.0

Asset sales 30.0
Additional borrowing etc.

210.0

Plus 30.0 bn in interestbearing debt from new
consolidations

Maintenance CapEx(investment inmaintenance andrenewal of existing
infrastructure)-240.0Return to
Shareholders, Interest
expense, tax paymentetc.

-170.011

[Reference]Capital Expenditure (and Lending)
CapEx budget for FY2023–FY2026 period

Total CapEx (and lending)

760.0 bn

Main growth investments
Urban
Transportation‧ Installation of platformdoors andbetter accessibility‧ Kita-Osaka Kyuko Railway Line Extension Project‧ Naniwasuji Connection Line /Shin-Osaka Connection Line Project

Real Estate‧ Umekita Phase II DevelopmentProject‧ Shibata1 Project‧ Projects in Tokyo Metropolitan Area (Yaesu 2 Naka
Redevelopment, Development of site of the HotelGrand Palace)‧ Real Estate segment’s overseas expansion‧ Expansion of domestic condominium business‧ Expansion of short-term-returns businessEntertainment‧ New farm facility for the Hanshin Tigers

Other‧ IT strategy, digital transformation(includes investment in for-sale property andnet increases in equity)12Performance Indicators (–FY2026)
FYI

FY2024
Results

FY2025
Forecasts

FY2026
Targets

FY2026
Previous targets

Business profit (1) + (2)¥108.3bn¥107.0bn¥118.0bn¥118.0bn

Operating profit (1)¥105.7bn¥105.8bn¥116.4bn¥115.0bn¥2.6bn¥1.2bn¥1.6bn¥3.0bn¥173.2bn¥175.0bn¥193.0bn¥193.0bn¥1,174.2bn¥1,320.0bn¥1,330.0bn¥1,230.0bn

Interest-bearing debt/EBITDA ratio

6.8

7.5

6.9

6.4

D/E ratio*2

1.2

1.3

1.2

1.2

¥67.8bn¥70.0bn¥75.0bn¥75.0bn

7.2%

7.0%

7% range

7% range¥1,114.6bn¥1,270.0bn¥1,280.0bn¥1,205.0bn

6.4

7.3

6.6

6.2

Equity-method gains/losses related tooverseas business investments (2)EBITDA*1
Interest-bearing debt

Profit attributable to owners of parent
ROE(Reference)

Net interest-bearing debt*3
Net interest-bearing debt/EBITDA ratio*1 EBITDA = Business profit (Operating profit + Equity-method gains/losses related to overseas business investments)+ Depreciation expenses + Amortization of goodwill*2 D/E ratio = Interest-bearing debt / Equity*3 Net interest-bearing debt = Interest-bearing debt – Cash and Deposits
13Growth Opportunity Coming to Kansai
Seeds of growth are being sown in Kansai, creating a huge growth opportunity
Redevelopment of Shin-Osaka Station vicinity

National Strategic Special Zone:
A zone for piloting super-city initiatives

Initiatives are underway to pilot innovative services in
Umekita Phase II and Yumeshima.

Designated a hub for emergency urban regeneration, the area is set to be
redeveloped as a node linking Japan’s main transport artery with thenorth-south route to Kansai International Airport.

New rail links
Osaka as a global financial city

Plan is to make Osaka a global financial hub that
attracts funds from Asia and beyond.

Site for Expo 2025
and integrated resort

When built, Naniwasuji Line,
Naniwasuji Connection Line, andShin-Osaka Connection Line will
dramatically improve air and land
access to Osaka, creating greater
potential for Osaka to
become a global hub.

Kobe Airport

Airport will start receiving international charter flights in 2025 (expoyear) and scheduled international flights in around 2030.

Kansai International Airport

Airport to get annual traffic to 300 k in early 2030s.

Digitally powered MaaS in Kansai

In an effective digital reach strategy, high-quality content(tourism, entertainment) in Kansai will be communicatedto inbound tourists, encouraging them to stay longer in
Kansai and thus attract overseas economic power into theregion.

14

Business Portfolio and Future Direction of the Group
Business portfolio of the Group (separated by “services provided” and “business area”)
Line-side business model Kansai（Umeda, other line-side areas）(e.g. contribute toprosperous communities)

Beyond our line-side areas (Tokyo, overseas)

Services connected topeople’s lives (B2C)

B2C

Real Estate Sales

Real Estate Leasing

Broadcasting andCommunications

HotelsHorizontal
expansion

HotelsEnhance value of rail networks,
revitalize communities

Contents(B2C)

Healthcare

SportsDigital infrastructure
for enhancing urban
amenities

B2B

Underpin safe, comfortable urbanlife and Group portfolio

Future direction

Horizontal
expansion

Stage
TravelReal Estate Sales Real Estate Leasing

Bring abundant lifestyles of ourline-side areas to other areas (inand outside Japan)
Stage

Expand regional coverage (beyond our railline-side areas) of competitive businesses
that have potential to expand
Other newinitiatives

Vertical
expansion

Continue enhancing value of line-side areas to makeour line-side communities the absolute best among
the Kansai networks

B2B information and transportation services(pan-area)
Information
Services

TravelInternational
Transportation

Enhance value we provide
to increase market share

Group, line-side areas with added power

Urban Transportation

Services connected
to people’s lives(B2C)

Collaborations
with external
partners

We will enhance our businesses and community-development efforts in line-side areas, and start applying ourbusiness and community-development knowhow beyond these areas (both in and outside Japan) to bring us more
quickly on track toward achieving sustainable growth. To that end, we must ascertain changes in the business climate
swiftly and work as a group to adapt to the changes.
15

Progress in Strategy 1
Strategy 1(core strategy)

Make our line-side communities the absolute best among the Kansai networks(further entrench position in Umeda, Osaka and surrounding areas)

Providing safe, reliable, and comfortable rail services• Sequential roll-out of surveillance cameras to bolster in-train
security on Hankyu Corporation and Hanshin Electric Railway lines.

• Hankyu Corporation will introduce its
reserved seat service “PRiVACE” in July 2024.

Planned rail links• Completed renovation work on Hanshin
Osaka-Umeda Sta.
• Platforms were widened, and sliding
platform doors were added to eachplatform. Elevators and escalators werealso installed on the West ticket gate side.

• In March 2024, the KitaOsaka Kyuko Railway line
extension opened.
• This accelerated thedevelopment of areas
surrounding the newstations developed forthis project, MinohKayano Sta. and MinohSemba Handaimae Sta.

• Plans are underway to build the new rail
links (Naniwasuji Connection Line/ShinOsaka Connection Line). These links will
open economic flows from across Japanand also attract global capital.
Further development to proceed in line with
progress made in developing the area aroundShin-Osaka Sta. (schedule for opening to be
determined)• In March 2024, a sole operator system
was introduced on the Hankyu Itami Lineafter ensuring safety by installing sensorequipped fixed-fence railways and othermeasures.
16

Progress in Strategy 1
Strategy 1(core strategy)

Make our line-side communities the absolute best among the Kansai networks(further entrench position in Umeda, Osaka and surrounding areas)

Actions for Umeda Vision
Umekita Phase II Development Project (GRAND GREEN OSAKA)• Preparations to open each facility are proceeding
steadily ahead of the partial opening in September 2024, GRAND GREEN OSAKA
THE NORTH RESIDENCE
and the full opening in FY2028(Plan to complete
construction in late
December 2025)

UMEKITA PARK
(Opening September 2024

(excluding parts of the North Park.))

GRAND GREEN OSAKA
core facility JAM BASE
(Opening September 2024)

Hotel Hankyu GRAN RESPIRE OSAKA(Opening 2H FY2025)

To Shin Umeda City

UMEKITA PARKGRAND FRONT OSAKA
Offices

UMEKITAPlaza
To JR Osaka Sta.

• Acquired OS Co., Ltd., which
operates real estate andentertainment services
businesses, as a consolidated
subsidiary to increase the valueof the Osaka-Umeda area.
• The Group will look to integrate real estatebusiness strategies with the view to working
together to develop the area as a whole.

Building line-side communities

North
Block

South
Block

Subsidiary acquisition of
OS Co., Ltd.

Partial opening in
September 2024
To JR Osaka Sta.

Commercial facilities
HotelsCore facilities
Housings• HANKYU NISHINOMIYAGARDENS PLUS building
opened in September
2023, completing aseries of large-scale
development projects inthe vicinity of
Nishinomiya-Kitaguchi
Sta.
17

Progress in Strategy 2Strategy 2Make our content as compelling as possible (Developing new content)
Entertainment• Last season, the Hanshin Tigers became Japan champions for the
first time in 38 years.
• We will use this opportunity to further grow our baseball businessby working to capture and retain new fans, while taking steps tonurture a stronger team with festivities to mark the Hanshin
Koshien Stadium’s centenary, and the opening of a new farm
facility scheduled for March 2025.

• With the backing of Kobe City, “ROKKO MEETS ART Art Walk”
attracted a record 33,000 visitors in FY2024.
• This event will be renamed KOBE ROKKO MEETS ART in FY2025,with the aim of growing the event to become the preeminent
art event in Kansai, attracting visitors from across Japan andabroad through measures to improve quality and by working
more closely with travel-related businesses.

Travel• The sumo show hall “THE SUMO
HALL HIRAKUZA OSAKA” opened in
May 2024 for overseas tourists. This
event includes sumo exhibitions byformer sumo wrestlers, and hands-on
entertainment centered around
Japanese cuisine• In addition to bolstering our themed product offerings(cruises, extended stays, lone travel, etc.), we will implement
measures to upgrade and diversify our Japanese inn andhotel lineup.
In overseas travel, we willdevelop our tourism
resources and offer
products involving new
countries and regions.
18

Progress in Strategy 3
Strategy 3

Expand the coverage of our line-side business model
Expansion in the overseas real estate business• We are expanding the scope of the business throughinvolvement in the real estate leasing business, and the logistics
center development business, in addition to the housingbusiness, with a focus on South East Asia.
• Following our entry into the U.S. in FY2023, we added two
properties to our rental housing business portfolio in FY2024,
and acquired a commercial andoffice complex in Australia as partof broader efforts in the real estateleasing business.

Expansion in the real estate business in the Tokyo
Metropolitan area
• Launched SUITE, a mid-scale office brand that offers highgrade comfort and functionality that encompasses sharedspaces, such as the entrance and rooftop space.
• Progress is ongoing on SUITE Shin-Okachimachi and SUITE
Shin-Yokohama, and other projects aiming for completion in
2025.

Neo Soho Mall (Commercial facility)(West Jakarta, Indonesia)

SUITE Shin-Okachimachi
60 Margaret (Commercial, Office)(Sydney, Australia)

SUITE Shin-Yokohama

Logistics center
development business(Tuas, Singapore)19

Progress in Strategy 4
Strategy 4

Increase market share by providing high value-added services
Enhance value-added services we provide
Information and Communication Technology

Real Estate• We have increased the number ofschools offering “ProgLab”, a robot
programming course for children,
nationwide.

• As moves to restructure and integrate logistics centers accelerate,
we are promoting logistics center development to meet thedemand for advanced logistics centers.

• Students participating in ProgLab have represented Japan atinternational competitions, and were awarded the METI
Minister’s Award along with “Mimamorume (a service forwatching over children)” at the 6th Japan Open Innovation Prize.
Logista Osaka Matsubara

Logista Toyonaka

International Transportation• We opened the Zama International Logistics Center, one of thelargest logistics centers in Japan.
• This facility contains a hazardous
materials storage. We will
promote the development of
next-gen mobility logistics
services through thetransportation of batteries, a key(Image provided by Mitsubishi Estate)component in EVs.
20

[Reference] Sustainability Declaration
General principles (sustainability vision)

A future vision that we hope to achieve through our sustainable business practices〜 Create a future grounded in "Safety and Comfort",
and a future colored 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 andworking 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)
IssuesSix priority issues to address as part of our sustainable business practices

Policies
Safe, reliable infrastructure

Provide railways and other infrastructure that are safe and disasterresilient. Ensure that anyone can safely access our facilities andservices.

Thriving communities

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

Life designs for tomorrow

Promote refined and inspired lifestyle solutions for a better tomorrow.

Empowering individuals

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

Environmental protection

Conduct eco activities that contribute to a carbon-neutral world and acircular economy.

Robust governance

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

21Non-Financial KPIs (Targets and Results)
Targets

Outlined below are our non-financial KPIs. The KPIs in the red outline had their applicable range expanded in FY2024. Core segments also have other KPIs
(additional to the ones shown here).

Priority issues

Non-financial KPIs

Safe, reliableinfrastructure*Applies to Hankyu Corporation/Hanshin Electric Railway/Kita-Osaka Kyuko Railway/Nose Electric Railway

Zero culpable incidents in our railway business
Percentage of women in
management positions

Percentage of womenamong new hires

Percentage of specifichealthguidance provision

Around 10％（FY2031）

Always more than 30%

More than 60％（FY2026）

Employee satisfaction

Always better than inprevious survey*A survey is conducted every two
years among the HHHD and thesix major companies

Empowering
individuals

Hiring rate for people withdisability

Human rights training
attendance rate

Less than 15％（FY2026）

100％（FY2026）

Keep exceedingmandatory rate

*HHHD and six major companies*HHHD and six major companies

Rate of CO2 emissions cuts

*Applies to: HHHD and subsidiariesʼ Japanese worksites*Equivalent to scope 1, 2CO2 emissions volumes（t-CO2）

（％）

45.3

47.8

44.5

36.8

50.0
34.6

6.0

0.0

* 19 special subsidiaries-46％ compared to FY2014 （FY2031）, CO2 emissions: Net zero (FY2051)

Percentage of women in management positions／Percentage of women among new hires

10.0

2.0

Keep 100％ rate

Note: six major companies: Hankyu Corporation, Hanshin Electric Railway, Hankyu Hanshin Properties, Hankyu Travel International, Hankyu Hanshin Express,and Hankyu Hanshin Hotels

（％）

4.0

*HHHD and six major companies

Paternity leave uptake

Environmental
protection

8.0*HHHD and six major companies

Smoking prevalence*HHHD and six major companies

Results*HHHD and six major companies

40.0
30.0

4.5

4.5

4.7

5.1

5.6

Percentage of women in management positions(left axis)
Percentage of women among new hires(right axis)（FY） 2019

2020

2021

2022

2023

20.0

800,000
600,000

CO2 emissions volumes
Energy consumption on crude oil-conversion basis616,365

600,000
434,932

393,821370,131361,817 400,000

400,000
200,000

10.0
0.0

（kl）

800,000

0（FY）

283,045

316,4912014

252,495
253,116
257,257

…

2020

2021

2022

2023

200,000
022