keio (9008) investor relations material

Executive summary

• Operating revenues reached a record 496.9 billion yen for FY2025, up 9.7% year-over-year, with growth across all segments, especially Real Estate Sales, Construction, and Hotels.

• Operating profit declined 3.4% to 52.3 billion yen due to increased investments, notably in railway safety.

• Profit attributable to owners of parent set a new record at 42.9 billion yen, aided by gains from the sale of cross-shareholdings.

• EBITDA was 86.9 billion yen (down 0.1%), and depreciation/amortization increased 5.5% to 34.4 billion yen.

Financial highlights

• Operating revenues: 496.9 billion yen (+44.0 billion yen YoY).

• Operating profit: 52.3 billion yen (-1.8 billion yen YoY).

• EBITDA: 86.9 billion yen (flat YoY).

• Capital expenditures: 65.5 billion yen (+43.1% YoY).

• Net assets increased to 444.2 billion yen, with an equity-to-asset ratio of 37.0%.

Outlook and guidance

• FY2026 operating revenues projected at 504.0 billion yen (+1.4% YoY), another record.

• Operating profit forecasted at 51.0 billion yen (-2.5% YoY), with higher depreciation from Shinjuku redevelopment and hotel renovations.

• Profit attributable to owners of parent expected at 43.0 billion yen.

• FY2026 dividend scheduled at 22.0 yen per share (110.0 yen pre-split basis).

• Segment outlook: Real Estate and Construction expected to grow, Hotels and Life Services to see profit declines.