Overview
Land Transportation

TOBU RAILWAY CO.,LTD.

Tobu Railway operates one of Japan's largest private railway networks, connecting Tokyo with the northern Kanto region (Saitama, Gunma, Tochigi) via key lines including the Isesaki and Nikko lines, with extensive interoperability agreements with Tokyo Metro, Tokyu, and other operators. Beyond rail transport, the company operates a diversified portfolio encompassing leisure facilities (including Tokyo Skytree and Tokyo Skytree Town), hotels, department stores (Tobu Department Store Ikebukuro), real estate, and travel services. The group leverages its railway infrastructure to drive passenger traffic to its own retail, leisure, and real estate assets along its network corridors.

Market Cap
¥568B
US$3.62B
EV
¥1,209B
US$7.71B
Stock¥2,904.5▼-0.24%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
9.3
x
LTM EV/EBIT
16.3
x
LTM PER
10.2
x
LTM PBR
0.9
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-8.2%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
568BUS$3.62BMarket Cap807BUS$5.14B+ Debt37.3BUS$238M− Cash135BUS$862M− Inv. Sec.6.64BUS$42.4M+ NCI1,209BUS$7.71BEV
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Performance & Balance
Revenue 5Y (¥B)
506US$3.23B'22/3615US$3.92B'23/3636US$4.06B'24/3631US$4.03B'25/3655US$4.18B'26/3
EBITDA 5Y (¥B)
80.3US$512M'22/3110US$702M'23/3127US$809M'24/3128US$817M'25/3127US$810M'26/3
Net Income 5Y (¥B)
13.5US$85.8M'22/329.2US$186M'23/348.2US$307M'24/351.3US$327M'25/355.6US$355M'26/3
Capital Structure
44%
56%
EquityD/E 1.29xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
108US$691M803US$5.12B'22/3143US$911M792US$5.05B'23/3133US$848M748US$4.77B'24/3134US$857M782US$4.99B'25/3172US$1.10B792US$5.05B'26/3
Shareholders
Top 10 hold 30.8%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
14.81%
2
Custody Bank of Japan, Ltd. (Trust Account)
4.95%
3
Fukoku Mutual Life Insurance Company
2.66%
4
JP MORGAN CHASE BANK 385781 (Standing Proxy: Mizuho Bank, Ltd.)
1.46%
5
STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)
1.36%
6
STATE STREET BANK AND TRUST COMPANY 505223 (Standing Proxy: Mizuho Bank, Ltd.)
1.26%
7
Mizuho Bank, Ltd.
1.18%
8
Saitama Resona Bank, Limited
1.03%
9
East Japan Railway Company
1.03%
10
GOVERNMENT OF NORWAY (Standing Proxy: Citibank, N.A., Tokyo Branch)
1.02%
Management
15 officers
Yoshizumi NEZU
Director, Chairman of the Board
Apr 1974 Joined the Company Apr 1988 General Manager, Business Development Office May 1990 Head, Business Development Office Jun 1990 Director, Head of Business Development Office Apr 1991 Managing Director Jun 1993 Representative Director Jun 1993 Senior Managing Director Jun 1995 Deputy President and Director Jun 1999 President and Director Apr 2018 President and Director, President and Executive Officer Jun 2023 Chairman and Director (current) (Principal concurrent positions: Outside Audit and Supervisory Board Member, Fukoku Mutual Life Insurance Company)
1951-10-26
Yutaka TSUZUKI
Representative Director, President and Executive Officer
Apr 1984 Joined the Company Jul 2008 General Manager, Transportation Department, Railway Business Headquarters Jul 2013 Representative Director and President, Tobu Engineering Co., Ltd. Jun 2015 Director, Deputy Head of Railway Business Headquarters and General Manager, Transportation Department Apr 2016 Director, Head of Railway Business Headquarters Jun 2017 Managing Director, Head of Railway Business Headquarters Apr 2018 Managing Director, Managing Executive Officer, Head of Railway Business Headquarters Jun 2018 Managing Executive Officer, Head of Railway Business Headquarters Oct 2019 Deputy President and Representative Director, Tobu Shoji Co., Ltd. Jun 2020 President and Representative Director, Tobu Shoji Co., Ltd. Apr 2023 Executive Officer, the Company Jun 2023 Representative Director, the Company (current) Jun 2023 President and Executive Officer, Director (current)
1961-01-04
Yoshimi YOKOTA
Representative Director, Senior Managing Executive Officer
Apr 1984 Joined the Company Jun 2012 General Manager, Corporate Planning Department Apr 2015 General Manager, Corporate Planning Department; General Manager, Ikebukuro Development Project Department Jun 2015 Director, General Manager, Corporate Planning Department and Ikebukuro Development Project Department Jan 2016 Director, General Manager, Corporate Planning Department Jun 2017 Managing Director, General Manager, Corporate Planning Department Jul 2017 Managing Director, Deputy Head of Corporate Planning Headquarters Apr 2018 Managing Director, Managing Executive Officer, Deputy Head of Corporate Planning Headquarters Jun 2018 Managing Executive Officer, Deputy Head of Corporate Planning Headquarters Jul 2018 Managing Executive Officer Jun 2019 Managing Executive Officer, General Manager, Town Development Promotion Division, Lifestyle Service Creation Headquarters Jun 2020 Director, Managing Executive Officer, General Manager, Town Development Promotion Division, Lifestyle Service Creation Headquarters Jun 2021 Director, Managing Executive Officer, Head of Lifestyle Service Creation Headquarters Jun 2022 Director, Managing Executive Officer, Head of Lifestyle Service Creation Headquarters; General Manager, Corridor Value Creation Division Apr 2023 Director, Managing Executive Officer Apr 2024 Director, Senior Managing Executive Officer Apr 2026 Representative Director (current)
1961-08-01
Takao SUZUKI
Director, Senior Managing Executive Officer, Head of Railway Business Headquarters
Apr 1986 Joined the Company Apr 2012 General Manager, Facilities Department, Railway Business Headquarters Apr 2016 General Manager, Transportation Department, Railway Business Headquarters; Principal, Train Crew Training School Jun 2019 General Manager, Rolling Stock Department, Railway Business Headquarters Jun 2021 Executive Officer; Deputy Head of Railway Business Headquarters; General Manager, Technology Division and Rolling Stock Department Jun 2022 Director, Managing Executive Officer, Head of Railway Business Headquarters Apr 2026 Director, Senior Managing Executive Officer, Head of Railway Business Headquarters (current)
1963-09-11
Noriko YAGASAKI
Director
Apr 1987 Joined Sumitomo Bank, Ltd. Oct 1989 Senior Researcher, General Research Division, Japan Research Institute, Ltd. Oct 2008 Councilor (Tourism Economy), Tourism Agency, Ministry of Land, Infrastructure, Transport and Tourism Jul 2011 Specially Appointed Associate Professor, Faculty of Urban Environmental Sciences, Tokyo Metropolitan University Apr 2014 Associate Professor, Faculty of International and Regional Studies, Toyo University Jun 2014 Outside Director, Japan Freight Railway Company (scheduled to retire Jun 2026) Jun 2015 Director, the Company Apr 2018 Professor, Faculty of International Tourism, Toyo University Apr 2019 Professor, Community Development Program, Department of International Social Studies, Faculty of Contemporary Liberal Arts, Tokyo Woman's Christian University Jun 2020 Director, the Company (current) Jun 2021 Outside Audit and Supervisory Board Member, East Nippon Expressway Company Limited (current) Apr 2022 Vice President, Tokyo Woman's Christian University; Professor, Community Development Program, Department of International Social Studies, Faculty of Contemporary Liberal Arts Apr 2024 Professor, Community Development Program, Department of International Social Studies, Faculty of Contemporary Liberal Arts, Tokyo Woman's Christian University Apr 2025 Professor, Department of Economics and Business Administration, Faculty of Contemporary Liberal Arts, Tokyo Woman's Christian University (current) (Principal concurrent positions: Professor, Department of Economics and Business Administration, Tokyo Woman's Christian University; Outside Director, Japan Freight Railway Company; Outside Audit and Supervisory Board Member, East Nippon Expressway Company Limited)
1963-04-22
Tomoya SUGIYAMA
Full-time Audit and Supervisory Board Member
Apr 1985 Joined the Company Jun 2013 General Manager, Finance Department Jun 2015 General Manager, Administration Department Sep 2017 Managing Director, Tobu Hotel Management Co., Ltd. Jun 2019 Executive Officer, the Company Jun 2020 Executive Officer; General Manager, Group Business Department (Group Management) Jun 2021 Full-time Audit and Supervisory Board Member (current)
1963-01-17
Tatsuo YOSHIDA
Full-time Audit and Supervisory Board Member
Apr 1982 Joined the Company Apr 2009 General Manager, Real Estate Business Department, Real Estate Sales Business Headquarters Apr 2010 General Manager, Line-side Development Business Headquarters Jun 2012 General Manager, Asset Management Department Apr 2018 Executive Officer; General Manager, Asset Management Department Jun 2020 Executive Officer; General Manager, Asset Strategy Department, Lifestyle Service Creation Headquarters Jun 2021 Executive Officer; General Manager, Asset Strategy Division, Lifestyle Service Creation Headquarters Apr 2023 Executive Officer; Deputy Head of Lifestyle Service Creation Headquarters Jun 2023 Full-time Audit and Supervisory Board Member (current)
1958-08-16
Yuzaburo MOGI
Audit and Supervisory Board Member
Apr 1958 Joined Noda Shoyu Co., Ltd. (currently Kikkoman Corporation) Mar 1979 Director, Noda Shoyu Mar 1982 Managing Director, Noda Shoyu Mar 1989 Senior Managing Director, Noda Shoyu Mar 1994 Deputy President and Director, Noda Shoyu Feb 1995 President and Director, Noda Shoyu Jun 2001 Audit and Supervisory Board Member, the Company (current) Jun 2004 Chairman and CEO, Kikkoman Corporation Jun 2011 Director, Honorary Chairman and Chairman of the Board, Kikkoman Corporation (current) Jun 2016 Outside Director, Oriental Land Co., Ltd. (current) (Principal concurrent positions: Director, Honorary Chairman and Chairman of the Board, Kikkoman Corporation; Outside Director, Oriental Land Co., Ltd.)
1935-02-13
Shuji FUKUDA
Audit and Supervisory Board Member
Apr 1974 Joined Onoda Cement Co., Ltd. (currently Taiheiyo Cement Corporation) Apr 2008 Executive Officer, Taiheiyo Cement Aug 2010 Managing Director, Taiheiyo Cement Apr 2012 Representative Director and President, Taiheiyo Cement Apr 2018 Director and Chairman, Taiheiyo Cement Jun 2020 Audit and Supervisory Board Member, the Company (current) Apr 2022 Director and Adviser, Taiheiyo Cement Jun 2022 Adviser, Taiheiyo Cement Apr 2024 Honorary Adviser, Taiheiyo Cement (current) (Principal concurrent position: Honorary Adviser, Taiheiyo Cement Corporation)
1951-12-20
Nobuhide HAYASHI
Audit and Supervisory Board Member
Apr 1980 Joined Fuji Bank, Ltd. Apr 2007 Executive Officer, Mizuho Corporate Bank, Ltd. Apr 2009 Managing Executive Officer, in charge of business, Mizuho Corporate Bank, Ltd. Jun 2011 Managing Director, Chief Officer, International Banking Unit, Mizuho Corporate Bank, Ltd. Apr 2013 Deputy President and Executive Officer, Mizuho Financial Group, Inc., in charge of International Unit; Deputy President and Executive Officer, Mizuho Bank, Ltd., in charge of MHCB International Unit coordination; Deputy President, Mizuho Corporate Bank, Ltd., in charge of International Unit Jun 2013 Director and Deputy President, Mizuho Financial Group, Inc., in charge of International Unit Jul 2013 Director and Deputy President, Mizuho Bank, Ltd., in charge of International Unit Apr 2014 Director and President, Mizuho Bank, Ltd. Apr 2017 Director and Chairman, Mizuho Bank, Ltd. Apr 2019 Senior Adviser, Mizuho Bank, Ltd. Jun 2019 Outside Audit and Supervisory Board Member, JTB Corp. (scheduled to retire Jun 2026) Jun 2020 Audit and Supervisory Board Member, the Company (current) Apr 2023 Adviser, Mizuho Financial Group, Inc. (current) Jun 2024 Outside Director, NSK Ltd. (current) (Principal concurrent positions: Adviser, Mizuho Financial Group, Inc.; Outside Director, NSK Ltd.; Outside Audit and Supervisory Board Member, JTB Corp.)
1957-03-27
Masaya KAWADA
Director
Apr 1975 Joined Nisshinbo Industries, Inc. Jun 2006 Executive Officer, Nisshinbo Industries Jun 2007 Director and Executive Officer, Nisshinbo Industries Apr 2009 Representative Director and President, Nisshinbo Brake Inc. Jun 2010 Director and Managing Executive Officer, Nisshinbo Holdings Inc. Jun 2011 Representative Director and President, Nisshinbo Chemical Inc. Jun 2012 Director and Senior Managing Executive Officer, Nisshinbo Holdings Inc. Jun 2012 Representative Director and President, Nisshinbo Mechatronics Inc. Jun 2013 Representative Director and President, Nisshinbo Holdings Inc. Mar 2019 Representative Director and Chairman, Nisshinbo Holdings Inc. Mar 2022 Director and Chairman, Nisshinbo Holdings Inc. (retired Mar 2023) Jun 2021 Outside Director, Meiji Holdings Co., Ltd. (current) Jun 2021 Outside Director, Central Glass Co., Ltd. (current) Jun 2026 Director, the Company (current) (Principal concurrent positions: Outside Director, Meiji Holdings Co., Ltd.; Outside Director, Central Glass Co., Ltd.)
1952-04-20
Masanori AKITA
Director
Apr 1983 Joined Hankyu Corporation Jul 1991 Joined Matsuya Co., Ltd. May 1999 Director, Matsuya May 2001 Managing Director, Matsuya Mar 2005 Senior Managing Director, Matsuya May 2005 Representative Director and Deputy President, Matsuya May 2007 Representative Director and President, Matsuya May 2008 Representative Director, President and Executive Officer, Matsuya Jul 2017 Outside Director, Meiji Yasuda Life Insurance Company (scheduled to retire Jul 2026) Mar 2023 Director, Chairman and Chairman of the Board, Matsuya Co., Ltd. (current) May 2025 Outside Director, Seven & i Holdings Co., Ltd. (current) Jun 2026 Director, the Company (current) (Principal concurrent positions: Director, Chairman and Chairman of the Board, Matsuya Co., Ltd.; Outside Director, Meiji Yasuda Life Insurance Company; Outside Director, Seven & i Holdings Co., Ltd.)
1958-12-24
Mitsuhiro MATSUMOTO
Director
Apr 1983 Joined National Police Agency Oct 2009 Superintendent General, Fukushima Prefectural Police Headquarters Apr 2012 Director, Personnel Division, National Police Agency Apr 2013 Director, Public Security Bureau, Metropolitan Police Department Apr 2014 Superintendent General, Kanagawa Prefectural Police Headquarters Aug 2015 Director, Foreign Affairs and Intelligence Department, National Police Agency Sep 2016 Director-General, Security Bureau, National Police Agency Jan 2018 Chief Secretary, National Police Agency Sep 2018 Deputy Commissioner General, National Police Agency Jan 2020 Commissioner General, National Police Agency (retired Sep 2021) Jun 2023 Outside Director, Japan Exchange Group, Inc. (current) Jun 2026 Director, the Company (current) (Principal concurrent position: Outside Director, Japan Exchange Group, Inc.)
1961-03-21
Chieko SUGISAKI
Director
Apr 1986 Joined Tokyo Metropolitan Government Aug 2011 Director, Policy Planning Department, Governor's Office, Tokyo Metropolitan Government Jul 2013 Director, Tourism Department, Bureau of Industrial and Labor Affairs Jul 2015 Director, Land Department, Bureau of Construction Oct 2016 Director, Road Management Department, Bureau of Construction Apr 2019 Director, General Affairs Department, Bureau of Construction Jul 2020 Executive Director, Policy Planning Bureau Apr 2022 Secretary General, Expropriation Commission (retired Mar 2024) Apr 2024 Chairperson, Tokyo Zoological Park Society (current) Jun 2026 Director, the Company (current) (Principal concurrent position: Chairperson, Tokyo Zoological Park Society)
1963-04-27
Masaaki KOMIYA
Director
Apr 1981 Joined Development Bank of Japan Jun 2012 Director and Managing Executive Officer, Development Bank of Japan Jun 2015 Director, Research Institute of Capital Investment, Development Bank of Japan (retired Jun 2016) Jun 2016 Deputy Secretary General, Tokyo 2020 Organising Committee of the Olympic and Paralympic Games Jun 2022 Full-time Audit and Supervisory Board Member, Airport Facilities Co., Ltd. (scheduled to retire Jun 2026) Jun 2026 Director, the Company (current)
1957-06-13
Large Shareholding Reports
Nomura Asset Management Co., Ltd.
2026-05-12
4.74%
Sumitomo Mitsui Trust Asset Management Co., Ltd.
2025-09-19
3.08%→2.86%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-04
Q1 Earnings Flash
FY ending Mar 2027
EDINETAmended
2026-07-15
Amended Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-06-22
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-05-12
Large Shareholding Report
TDnet
2026-02-04
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-09-19
Large Shareholding Report
TDnet
2025-08-05
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-24
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-05
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-05
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-21
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-14
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-14
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-23
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-14
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-14
Quarterly Securities Report
EDINET
2022-08-15
Quarterly Securities Report
EDINET
2022-06-23
Annual Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-11-15
Quarterly Securities Report
EDINET
2021-08-16
Quarterly Securities Report
EDINET
2021-06-23
Annual Securities Report
EDINET
2021-02-12
Quarterly Securities Report
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