Hankyu Hanshin Holdings (9042) Q3 2026 earnings summary

Executive summary

• Operating revenue for Q3 FY2026 rose 9.6% year-over-year to ¥881.5 billion, with operating profit up 20.1% to ¥111.2 billion and ordinary profit up 18.0% to ¥115.7 billion.

• Profit attributable to owners increased 8.6% year-over-year to ¥73.8 billion, with basic earnings per share rising to ¥310.30.

• Growth was driven by strong performances in Urban Transportation, Real Estate, Sports, and Travel segments, with notable contributions from the Hanshin Tigers' championship and Expo 2025-related demand.

Financial highlights

• Operating revenue increased by ¥77.1 billion year-over-year; operating profit rose by ¥18.6 billion.

• Ordinary profit grew 18.0% to ¥115.7 billion; extraordinary losses increased due to a ¥6.3 billion provision for property and equipment removal.

• Depreciation and amortization totaled ¥51.1 billion, up ¥3.6 billion year-over-year.

• Total assets increased to ¥3,442.9 billion as of December 31, 2025, up from ¥3,283.5 billion at the previous fiscal year-end.

• Operating expenses increased to ¥770.3 billion, up from ¥711.7 billion year-over-year.

Outlook and guidance

• FY2026 forecasts remain unchanged, with full-year operating revenue projected at ¥1,200.0 billion and operating profit at ¥127.4 billion.

• Forecasted basic earnings per share for the full year is ¥328.14; annual dividend forecast is ¥100.00 per share.

• Continued capital investment and higher expenses expected, especially in Urban Transportation, with fare revisions under consideration.