Sotetsu Holdings, Inc. · TSE:9003
Sotetsu — FY2025 Earnings Presentation
56 slides from Sotetsu's earnings presentation, May 22, 2026
Slide 1: Financial Results Briefing Materials for the Fiscal Year Ended March 31, 2026
Sotetsu Holdings, Inc. (Stock Exchange Code: 9003) Financial Results Briefing Materials for the Fiscal Year Ended March 31, 2026 May 22, 2026 https://www.sotetsu.co.jp/ Copyright Ⓒ Sotetsu Holdings, Inc. All rights reserved
Slide 2: Contents
Contents Shareholder Returns/ 01 Executive Summary P3 04 P 28 Capital Policy Financial Results for the Fiscal 02 Initiatives by Segment P 10 05 Year Ended March 31, 2026 P 32 —Detailed Materials Business Forecast for the Fiscal 03 Management Indicators P 25 06 P 47 Year Ending March 31, 2027 —Detail
Slide 3: Executive Summary
Shareholder Returns/ 01 Executive Summary P3 04 P 28 Capital Policy Financial Results for the Fiscal 02 Initiatives by Segment P 10 05 Year Ended March 31, 2026 P 32 —Detailed Materials Business Forecast for the Fiscal 03 Management Indicators P 25 06 Year Ending March 31, 2027 P 47 —Detailed Materi
Slide 4: Executive Summary of Financial Results for the Fiscal Year Ended March 31, 2026
Executive Summary of Financial Results for the Fiscal Year Ended March 31, 2026 Second-highest level Record high on record Exceeded Medium-Term Management Record high Plan target (38.0 billion yen) Operating revenue Operating profit Profit attributable to owners of parent 307.5 billion yen 38.8 bill
Slide 5: Overview of Financial Results for the Fiscal Year Ended March 31, 2026
Overview of Financial Results for the Fiscal Year Ended March 31, 2026 (Million yen) Change Change 2026/3 Change Change 2025/3 2026/3 (Amount) (%) Plan (Amount) (%) Operating revenue 292,178 307,572 +15,393 +5.3 316,300 -8,727 -2.8 Operating profit 37,820 38,833 +1,013 +2.7 35,100 +3,733 +10.6 Ordin
Slide 6: Overview of Financial Results for the Fiscal Year Ended March 31, 2026 [YoY]
Overview of Financial Results for the Fiscal Year Ended March 31, 2026 [YoY] Revenue and profit increased due to factors such as an increase in the number of passengers on existing lines and the ⚫ Transportation 6 Sotetsu Shin-Yokohama Line Revenue and profit increased due to factors such as higher
Slide 7: Overview of Financial Results for the Fiscal Year Ended March 31, 2026 [vs. Plan]
Overview of Financial Results for the Fiscal Year Ended March 31, 2026 [vs. Plan] ⚫ Transportation Revenue decreased, but profit increased due to a decrease in expenses such as repairs Revenue decreased, but profit increased due to the strong performance of existing FamilyMart convenience stores, ⚫
Slide 8: Overview of Business Forecast for the Fiscal Year Ending March 31, 2027
Overview of Business Forecast for the Fiscal Year Ending March 31, 2027 (Million yen) 2026/3 2027/3 Change Change Results Plan (Amount) (%) Operating revenue 307,572 321,300 +13,727 +4.5 Operating profit 38,833 37,000 -1,833 -4.7 Ordinary profit 35,696 32,700 -2,996 -8.4 Profit attributable to owner
Slide 9: Overview of Business Forecast for the Fiscal Year Ending March 31, 2027 [YoY]
Overview of Business Forecast for the Fiscal Year Ending March 31, 2027 [YoY] Revenue will rise, but profit will fall due to an increase in facility charges related to the Shin-Yokohama Line, despite the ⚫ Transportation expected demand increase in the existing lines and the Sotetsu Shin-Yokohama Li
Slide 10: Initiatives by Segment
Shareholder Returns/ 01 Executive Summary P3 04 P 28 Capital Policy Financial Results for the Fiscal 02 Initiatives by Segment P 10 05 Year Ended March 31, 2026 P 32 —Detailed Materials Business Forecast for the Fiscal 03 Management Indicators P 25 06 Year Ending March 31, 2027 P 47 —Detailed Materi
Slide 11: Attractions of Yokohama City
Attractions of Yokohama City Potential of Yokohama City ⚫ Number of households in Yokohama City ⚫ Location of Yokohama City ⚫ Population of Yokohama City +50,000 +200,000 households people 3.77 1.84 million million Tokyo 3.72 1.64 Kanagawa million million Prefecture Yokohama 2015 2025 2015 2025 City
Slide 12: Strengths of Sotetsu Group
Strengths of Sotetsu Group ⚫ Sotetsu Lines Line name Operating Sotetsu Group’s daily living economic zone (area serviced) kilometers Improved access to central Tokyo through direct Sotetsu Main Line connection service (Yokohama to Ebina) 24.6 km • 3 lines and 27 stations in Yokohama City and Sotetsu
Slide 13: Sotetsu Group Segment Summary
Sotetsu Group Segment Summary ⚫ Securing human resources: Hiring costs, outsourcing costs, and wage increases put pressure on revenue ⚫ Soaring energy prices: A prolonged situation in the Middle East will raise diesel costs and material prices Surrounding ⚫ Rising construction costs and prolonged co
Slide 14: Initiatives by Segment / Transportation
Initiatives by Segment / Transportation Transportation (Railway) Promotion of underground track project Driver-only operation ◆ Major key initiatives ⚫ Maintain and improve safe, stable, and comfortable • Moving of inbound/outbound lines • Address future labor shortages and transportation of 2.8 km
Slide 15: Initiatives by Segment / Merchandising
Initiatives by Segment / Merchandising Merchandising Medium- to long-term vision for the supermarket business ◆ Initiatives in the supermarket business ⚫ Undertake performance reforms through the two axes of product Redesign of sales Store renovation Strengthen product reforms and sales reforms prom
Slide 16: Initiatives by Segment / Real Estate Sales
Initiatives by Segment / Real Estate Sales Real Estate Sales Rental condominiums ◆ Major key initiatives • Hazawa Minami rental condominium plan ⚫ Grow and strengthen the financial foundation of the three-pillar real estate sales 43-31, Hazawaminami 2-chome, Kanagawa-ku, business, real estate rental
Slide 17: Initiatives by Segment / Real Estate Rental
Initiatives by Segment / Real Estate Rental Real Estate Rental Ebina City Nakashinden Maruta area land readjustment project ◆ Major key initiatives • Nakashinden Maruta area: Positioned as an area where residential ⚫ The Sotetsu Lines urban development that is attractive functions center and develop
Slide 18: Initiatives by Segment / Real Estate
Initiatives by Segment / Real Estate ◆ Expand business areas to engage in comprehensive real estate business ⚫ Real estate business diversification Strive to diversify business strategies and make the business profitable in line with the market environment and our operating conditions Asset turnover
Slide 19: Initiatives by Segment / Hotel
Initiatives by Segment / Hotel Hotel Strengthen brand development • Work to strengthen brand development to achieve resilience and ◆ Major key initiatives growth by transforming into a business structure capable of ⚫ Creation of resilient revenue structure and new hotel openings withstanding event-r
Slide 20: Initiatives by Segment / Other
Initiatives by Segment / Other Other Overview of properties acquired in FY2025 ◆ Promotion of renewable energy business Number of plants 25 ⚫ Sotetsu Clean Energy Investment amount Approx.12.5 billion yen (excluding tax) Acquired 25 solar power plants in December 2025 Total output Expand stable powe
Slide 21: GREEN×EXPO 2027 and Initiatives of Sotetsu Group
GREEN×EXPO 2027 and Initiatives of Sotetsu Group ◆ Develop a sense of expectation for areas along Sotetsu Lines through GREEN×EXPO 2027 GREEN×EXPO 2027 Access to site Organizer Japan Association for the International Horticultural Expo 2027, Yokohama Location Former Kamiseya Communications Facility
Slide 22: The Sotetsu Lines Urban Development Strategy
The Sotetsu Lines Urban Development Strategy ◆ Realizing the Sotetsu Lines Urban Development Strategy ⚫ Strive to create and foster a fulfilling life along the Sotetsu lines by working together as one with Yokohama City in the planning, developing, and operating stages In April 2026, the Sotetsu Gro
Slide 23: Population Trends and Average Official Land Price Trends along the Sotetsu Lines
Population Trends and Average Official Land Price Trends along the Sotetsu Lines Net migration to/from areas along the Sotetsu lines Average official land price trends along the Sotetsu lines ■November 2019 ■2020 Completion of one of the six major (price per tsubo (approx. 3.3 m2)) Opening of Sotets
Slide 24: Reinforce ESG/SDG Initiatives
Reinforce ESG/SDG Initiatives • Add non-financial indicators related to the solving of social issues and carry out key initiatives, balancing them with economic value, to achieve the Group’s vision Revised March 27, 2025 Details regarding non-financial indicators: https://www.sotetsu.co.jp/sustainab
Slide 25: Management Indicators
Shareholder Returns/ 01 Executive Summary P3 04 P 28 Capital Policy Financial Results for the Fiscal 02 Initiatives by Segment P 10 05 Year Ended March 31, 2026 P 32 —Detailed Materials Business Forecast for the Fiscal 03 Management Indicators P 25 06 Year Ending March 31, 2027 P 47 —Detailed Materi
Slide 26: Medium-Term Management Plan Management Indicators (FY2025 to FY2027)
Medium-Term Management Plan Management Indicators (FY2025 to FY2027) Consolidated operating profit Profit attributable to owners of parent (Billion yen) (Billion yen) 37.8 38.8 38.0 24.8 37.0 22.4 22.1 22.4 2025/3 2026/3 2027/3 2028/3 2025/3 2026/3 2027/3 2028/3 Results Results Plan Plan (Medium-Ter
Slide 27: Consolidated Figures / Figures by Segment (FY2025 to FY2027)
Consolidated Figures / Figures by Segment (FY2025 to FY2027) (Billion yen) Medium-Term Management Plan Consolidated Figures 2028/3 Plan 2026/3 Results (Medium-Term 2025/3 Results 2027/3 Plan Management Plan) Operating revenue 292.1 307.5 321.3 350.4 Operating profit 37.8 38.8 37.0 38.0 Ordinary prof
Slide 28: Shareholder Returns/Capital Policy
Shareholder Returns/ 01 Executive Summary P3 04 P 28 Capital Policy Financial Results for the Fiscal 02 Initiatives by Segment P 10 05 Year Ended March 31, 2026 P 32 —Detailed Materials Business Forecast for the Fiscal 03 Management Indicators P 25 06 Year Ending March 31, 2027 P 47 —Detailed Materi
Slide 29: Basic Shareholder Returns and Capital Policy
Basic Shareholder Returns and Capital Policy Changes in dividend per share and payout ratio Dividend increase (Yen) 70.0 70.0 Interim Year-end 65.0 50.0 50.0 35.0 40.0 35.0 25.0 30.0 25.0 20.0 15.0 35.0 25.0 10.0 30.0 30.0 20.0 20.0 10.0 10.0 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 2026年度 F
Slide 30: Implementation of Management That Is Conscious of Cost of Capital and Stock Price
Implementation of Management That Is Conscious of Cost of Capital and Stock Price Cost of shareholders’ ＋ β ＝ Sotetsu Holdings assumptions of cost of Risk-free Market risk shareholders’ equity (reference values) rate premium * Responsiveness of our equity (reference values) * 10-year government shar
Slide 31: Investment Plan
Investment Plan ⚫ Maintain our financial soundness and make investments that contribute to sustainable growth, such as growth investments for acquiring and developing real estate to prepare for the cash outflows of large-scale investment phases ⚫ Conscious of the cost of capital and profitability, s
Slide 32: Financial Results for the Fiscal Year Ended March 31, 2026 — Detailed Materials
Shareholder Returns/ 01 Executive Summary P3 04 P 28 Capital Policy Financial Results for the Fiscal 02 Initiatives by Segment P 10 05 Year Ended March 31, 2026 P 32 —Detailed Materials Business Forecast for the Fiscal 03 Management Indicators P 25 06 Year Ending March 31, 2027 P 47 —Detailed Materi
Slide 33: Financial Highlights (Consolidated Statement of Income)
Financial Highlights (Consolidated Statement of Income) (Million yen) Change Change FY3/2026 FY3/2026 FY3/2025 Plan Amount (%) Amount (%) Operating revenue 307,572 292,178 +15,393 +5.3 316,300 -8,727 -2.8 Operating profit 38,833 37,820 +1,013 +2.7 35,100 +3,733 +10.6 Non-operating income 1,731 1,001
Slide 34: Segment Information
Segment Information (Million yen) Change FY3/2026 FY3/2025 Note Amount (%) (+) Increase in the number of passengers for the existing lines and the Operating revenue 45,063 43,540 +1,522 +3.5 Sotetsu Shin-Yokohama Line Transportation Operating profit 5,727 4,912 +814 +16.6 Operating revenue 97,247 94
Slide 35: Segment Information
Segment Information (Million yen) FY3/2026 Change FY3/2026 Note Plan Amount (%) Operating revenue 45,063 45,100 -36 -0.1 Transportation Operating profit 5,727 4,900 +827 +16.9 (+) Decrease in repair expenses Operating revenue 97,247 98,500 -1,252 -1.3 (-) Store closures Merchandising Operating profi
Slide 36: Quarterly Segment Information
Quarterly Segment Information (Million yen) FY3/2026 Q1 FY3/2026 Q2 FY3/2026 Q3 FY3/2026 Q4 FY3/2026 (Apr-Jun) (Jul-Sep) (Oct-Dec) (Jan-Mar) (Apr-Mar) Operating revenue 11,338 11,257 11,405 11,061 45,063 Transportation Operating profit 2,160 1,506 2,053 7 5,727 Operating revenue 23,610 24,680 25,633
Slide 37: Segment Information (Transportation)
Segment Information (Transportation) (Million yen) Change FY3/2026 Change FY3/2026 FY3/2025 Amount (%) Plan Amount (%) Operating revenue 45,063 43,540 +1,522 +3.5 45,100 -36 -0.1 Railway 37,815 36,769 +1,046 +2.8 37,800 +15 +0.0 Bus 7,293 6,823 +470 +6.9 7,300 -6 -0.1 Adjustments -46 -52 +6 － -0 -46
Slide 38: Segment Information (Merchandising)
Segment Information (Merchandising) (Million yen) Change FY3/2026 Change FY3/2026 FY3/2025 Amount (%) Plan Amount (%) Operating revenue 97,247 94,854 +2,393 +2.5 98,500 -1,252 -1.3 Supermarket business 87,807 85,926 +1,881 +2.2 88,400 -592 -0.7 Other merchandising 9,440 8,928 +512 +5.7 10,100 -659 -
Slide 39: Segment Information (Real Estate)
Segment Information (Real Estate) (Million yen) Change FY3/2026 Change FY3/2026 FY3/2025 Amount (%) Plan Amount (%) Operating revenue 73,236 71,218 +2,018 +2.8 81,100 -7,863 -9.7 Sales 30,924 30,456 +468 +1.5 35,300 -4,375 -12.4 Leasing 42,658 41,121 +1,536 +3.7 46,100 -3,441 -7.5 Adjustments -346 -
Slide 40: Segment Information (Hotel)
Segment Information (Hotel) (Million yen) Change FY3/2026 Change FY3/2026 FY3/2025 Amount (%) Plan Amount (%) Operating revenue 75,469 66,910 +8,558 +12.8 75,100 +369 +0.5 Operating profit 16,448 12,646 +3,802 +30.1 13,900 +2,548 +18.3 <In Japan, room occupancy rate/average revenue per room> Change
Slide 41: Segment Information (Other)
Segment Information (Other) (Million yen) Change FY3/2026 Change FY3/2026 FY3/2025 Amount (%) Plan Amount (%) Operating revenue 30,548 28,039 +2,509 +8.9 27,700 +2,848 +10.3 Building maintenance 22,202 20,700 +1,501 +7.3 19,500 +2,702 +13.9 business Other 9,310 8,271 +1,039 +12.6 9,100 +210 +2.3 Adj
Slide 42: Non-Operating Income/Expenses
Non-Operating Income/Expenses (Million yen) Change FY3/2026 Change FY3/2026 FY3/2025 Plan Amount (%) Amount (%) Operating profit 38,833 37,820 +1,013 +2.7 35,100 +3,733 +10.6 Non-operating income 1,731 1,001 +730 +73.0 1,300 +431 +33.2 Interest and dividend income 368 517 -148 -28.7 300 +68 +23.0 Sh
Slide 43: Extraordinary Income/Losses
Extraordinary Income/Losses (Million yen) Change FY3/2026 Change FY3/2026 FY3/2025 Amount (%) Plan Amount (%) Ordinary profit 35,696 34,812 +883 +2.5 32,500 +3,196 +9.8 Extraordinary income 2,259 2,255 +3 +0.2 100 +2,159 － Gain on sale of non-current assets 15 1,226 -1,211 -98.8 － +15 － Gain on sale
Slide 44: Financial Highlights (Consolidated Balance Sheet)
Financial Highlights (Consolidated Balance Sheet) (Million yen) As of As of Change March 31, March 31, Note 2026 2025 Amount (%) Inventories: +20,019, Current assets 181,938 141,683 +40,254 +28.4 Operational investment securities: +7,553, Other current assets: +5,557 Property, plant and equipment: +
Slide 45: Financial Highlights (Statement of Cash Flows)
Financial Highlights (Statement of Cash Flows) (Million yen) FY3/2026 FY3/2025 Note Cash flows from operating activities 22,792 36,678 Profit before income taxes 34,895 30,523 Depreciation 24,993 24,687 Decrease (increase) in inventories -15,021 -17,120 Income taxes paid -12,169 -9,211 Cash flows fr
Slide 46: Financial Highlights (Capital Expenditure/Depreciation)
Financial Highlights (Capital Expenditure/Depreciation) ➢ Capital expenditure (Million yen) Change FY3/2026 Change FY3/2026 FY3/2025 Details of expenditure for FY3/2026 Amount (%) Plan Amount (%) Train replacement work (introduction of new 13000 series rolling stock), elevated tracks Transportation
Slide 47: Business Forecast for the Fiscal Year Ending March 31, 2027 — Detailed Materials
Shareholder Returns/ 01 Executive Summary P3 04 P 28 Capital Policy Financial Results for the Fiscal 02 Initiatives by Segment P 10 05 Year Ended March 31, 2026 P 32 —Detailed Materials Business Forecast for the Fiscal 03 Management Indicators P 25 06 P 47 Year Ending March 31, 2027 —Detailed Materi
Slide 48: Forecast for FY3/2027 (Consolidated Statement of Income)
Forecast for FY3/2027 (Consolidated Statement of Income) (Million yen) FY3/2027 FY3/2026 Forecast vs. Actual Note Forecast Actual Amount (%) Operating revenue 321,300 307,572 +13,727 +4.5 Operating profit 37,000 38,833 -1,833 -4.7 Non-operating income 1,000 1,731 -731 -42.3 Non-operating expenses 5,
Slide 49: Forecast for FY3/2027 (All Segments)
Forecast for FY3/2027 (All Segments) (Million yen) FY3/2027 FY3/2026 Forecast vs. Actual Note Forecast Actual Amount (%) Operating revenue 46,700 45,063 +1,636 +3.6 (+) Increase in number of passengers Transportation Operating profit 4,800 5,727 -927 -16.2 (-) Increase in facility expenses Operating
Slide 50: Forecast for FY3/2027 (Transportation)
Forecast for FY3/2027 (Transportation) (Million yen) FY3/2027 FY3/2026 Forecast vs. Actual Note Forecast Actual Amount (%) Operating revenue 46,700 45,063 +1,636 +3.6 Railway 39,300 37,815 +1,484 +3.9 Bus 7,400 7,293 +106 +1.5 Adjustments -0 -46 +46 － Operating profit 4,800 5,727 -927 -16.2 <Railway
Slide 51: Forecast for FY3/2027 (Merchandising)
Forecast for FY3/2027 (Merchandising) (Million yen) FY3/2027 FY3/2026 Forecast vs. Actual Note Forecast Actual Amount (%) Operating revenue 98,400 97,247 +1,152 +1.2 Supermarket business 88,100 87,807 +292 +0.3 Other merchandising 10,300 9,440 +859 +9.1 businesses Adjustments － － － － Operating profi
Slide 52: Forecast for FY3/2027 (Real Estate)
Forecast for FY3/2027 (Real Estate) (Million yen) FY3/2027 FY3/2026 Forecast vs. Actual Note Forecast Actual Amount (%) Operating revenue 80,300 73,236 +7,063 +9.6 Sales 31,600 30,924 +675 +2.2 Leasing 49,000 42,658 +6,341 +14.9 Adjustments -300 -346 +46 － Operating profit 14,800 13,957 +842 +6.0 Sa
Slide 53: Forecast for FY3/2027 (Hotel)
Forecast for FY3/2027 (Hotel) (Million yen) FY3/2027 FY3/2026 Forecast vs. Actual Note Forecast Actual Amount (%) Operating revenue 76,700 75,469 +1,230 +1.6 Operating profit 15,300 16,448 -1,148 -7.0 <In Japan, room occupancy rate/average revenue per room> FY3/2027 FY3/2026 Forecast vs. Actual Note
Slide 54: Forecast for FY3/2027 (Other)
Forecast for FY3/2027 (Other) (Million yen) FY3/2027 FY3/2026 Forecast vs. Actual Note Forecast Actual Amount (%) Operating revenue 31,000 30,548 +451 +1.5 Building maintenance 21,300 22,202 -902 -4.1 business Other 10,600 9,310 +1,289 +13.8 Adjustments -900 -964 +64 － Operating profit 1,500 2,162 -
Slide 55: Forecast for FY3/2027 (Capital Expenditure/Depreciation)
Forecast for FY3/2027 (Capital Expenditure/Depreciation) ➢ Capital expenditure (Million yen) FY3/2027 FY3/2026 Forecast vs. Actual Details of expenditure for FY3/2027 Forecast Actual Amount (%) Transportation 16,071 11,151 +4,919 +44.1 Elevated tracks project near Tsurugamine Station and purchase of
Slide 56: made by the Company’s management drawn from the information available at the time of
Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. All information except facts about the past included in this document are forward lo