Hankyu Hanshin Holdings (9042) Q3 2025 earnings summary

Executive summary

• Operating revenue for Q3 FY2025 rose 9.2% year-over-year to ¥804.4 billion, with operating profit up 2.4% to ¥92.7 billion and profit attributable to owners of parent up 8.2% to ¥68.0 billion.

• Growth was driven by increased condominium sales in Real Estate, recovery in Urban Transportation, and robust hotel demand, offsetting declines in Entertainment and International Transportation profits.

• Comprehensive income decreased to ¥72.5 billion from ¥83.0 billion year-over-year, mainly due to lower other comprehensive income.

Financial highlights

• Q3 FY2025 operating revenue: ¥804.4 billion (+9.2% YoY); operating profit: ¥92.7 billion (+2.4% YoY); ordinary profit: ¥98.0 billion (+3.4% YoY).

• Earnings per share for the period were ¥284.05, up from ¥261.05 year-over-year.

• Total assets as of December 31, 2024, reached ¥3,160.3 billion, with net assets at ¥1,118.6 billion.

• Depreciation and amortization for Q3 FY2025: ¥47.5 billion (+¥1.4 billion YoY).

• Interest-bearing debt increased to ¥1,276.4 billion (+¥102.2 billion from FY2024).

• Equity ratio improved to 32.5% (+0.4pt YoY).

Outlook and guidance

• FY2025 full-year revenue forecast maintained at ¥1,100.0 billion (+10.3% YoY); operating profit forecast at ¥108.9 billion (+3.2% YoY); profit attributable to owners of parent at ¥70.0 billion (+3.2% YoY); EPS forecast at ¥292.70.

• Urban Transportation and Travel segments expected to outperform October forecasts due to higher ridership and domestic travel demand.

• Real Estate profit forecast raised despite lower revenue, reflecting strong hotel operations and lower sales expenses.

• Dividend forecast for FY2025 is ¥60.00 per share, up from ¥55.00 in FY2024.