Overview
Land Transportation

Keisei Electric Railway Co.,Ltd.

Keisei Electric Railway is a major private railway operator in the Tokyo metropolitan area, primarily serving Chiba Prefecture and connecting central Tokyo (Ueno/Asakusa) with Narita International Airport via its flagship Narita Sky Access line and Skyliner express service. Beyond its core rail operations, the group operates an extensive portfolio of businesses including bus, taxi, retail (supermarkets and department stores), real estate, leisure, hotels, and construction through approximately 81 subsidiaries and 6 affiliates. The group holds a notable equity stake in Oriental Land Co., Ltd. (operator of Tokyo Disneyland), which represents a significant component of its investment value.

Market Cap
¥672B
US$4.28B
EV
¥780B
US$4.98B
Stock¥1,393▲+0.98%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
11.0
x
LTM EV/EBIT
21.2
x
LTM PER
13.2
x
LTM PBR
1.2
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-15.1%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
672BUS$4.28BMarket Cap413BUS$2.64B+ Debt43.0BUS$274M− Cash280BUS$1.78B− Inv. Sec.17.7BUS$113M+ NCI780BUS$4.98BEV
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Performance & Balance
Revenue 5Y (¥B)
214US$1.37B'22/3252US$1.61B'23/3297US$1.89B'24/3319US$2.04B'25/3332US$2.12B'26/3
EBITDA 5Y (¥B)
25.3US$161M'22/341.8US$267M'23/358.6US$374M'24/368.6US$438M'25/368.1US$435M'26/3
Net Income 5Y (¥B)
-4.44-US$28.3M'22/326.9US$172M'23/387.7US$559M'24/370.0US$446M'25/348.0US$306M'26/3
Capital Structure
58%
42%
EquityD/E 0.73xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
230US$1.46B340US$2.17B'22/3237US$1.51B360US$2.29B'23/3308US$1.96B365US$2.33B'24/3288US$1.84B329US$2.10B'25/3316US$2.01B369US$2.36B'26/3
Shareholders
Top 10 hold 41.1%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
14.96%
2
Custody Bank of Japan, Ltd. (Trust Account)
8.26%
3
ORIENTAL LAND CO.,LTD.
3.61%
4
Mizuho Bank, Ltd.
3.00%
5
Nippon Life Insurance Company
2.69%
6
STATE STREET BANK AND TRUSTCOMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)
2.41%
7
AEON CO.,LTD.
2.14%
8
Custody Bank of Japan, Ltd. (Retirement Benefit Trust, Sumitomo Mitsui Trust Bank, Limited Account)
1.38%
9
STATE STREET BANK AND TRUSTCOMPANY 505301 (Standing Proxy: Mizuho Bank, Ltd.)
1.38%
10
JP MORGAN CHASE BANK 385781 (Standing Proxy: Mizuho Bank, Ltd.)
1.27%
Management
19 officers
Toshiya KOBAYASHI
Representative Director, Chairman
Apr 1982 Joined Keisei Electric Railway Jul 2006 General Manager, Group Strategy Department, Keisei Electric Railway Jun 2008 General Manager, Planning and Management Department, Railway Division, Keisei Electric Railway Jun 2010 Director, General Manager, Development Business Division Jun 2013 Managing Director, in charge of Development Oct 2013 Managing Director, in charge of Development; Director and President, Keisei Insurance Consulting Co., Ltd. Jun 2015 Representative Director, Senior Managing Director, in charge of Development Jun 2016 Representative Director, Senior Managing Director, in charge of Accounting and Development Jun 2017 Representative Director, President Oct 2021 Representative Director, President, President Executive Officer Jun 2024 Representative Director, President, President Executive Officer; Director and President, Shin-Keisei Electric Railway Co., Ltd. Apr 2025 Representative Director, President, President Executive Officer Jun 2025 Representative Director, Chairman (current)
1959-07-30
Takao AMANO
Representative Director, President, President Executive Officer
Apr 1988 Joined Keisei Electric Railway Jul 2011 General Manager, Transportation Department, Railway Division, Keisei Electric Railway Jun 2015 Director, Keisei Electric Railway Jun 2016 Director; Director and President, Keisei Construction Co., Ltd. Jun 2018 Managing Director, in charge of General Affairs and Human Resources Nov 2018 Managing Director, in charge of General Affairs and Human Resources; Director and President, Keisei Driving School Co., Ltd. Jun 2020 Managing Director, in charge of Internal Audit, General Affairs and Human Resources Jun 2021 Representative Director, Senior Managing Director, in charge of Internal Audit, General Affairs and Human Resources Oct 2021 Representative Director, Senior Managing Executive Officer, in charge of Internal Audit, General Affairs and Human Resources Jun 2022 Representative Director, Senior Managing Executive Officer, in charge of Internal Audit, General Affairs and Human Resources; General Manager, Development Division Jun 2024 Representative Director, Senior Managing Executive Officer, in charge of Internal Audit, General Affairs, Human Resources and Accounting Jun 2025 Representative Director, President, President Executive Officer (current)
1965-09-21
Hidetake MOCHINAGA
Director, Managing Executive Officer, General Manager, Railway Division
Apr 1984 Joined Ministry of Transport Jun 2016 Director-General, Kanto Regional Transport Bureau, Ministry of Land, Infrastructure, Transport and Tourism Feb 2018 Adviser, Nittsu Trading Co., Ltd. Aug 2018 Adviser, Sanman Corporation Jun 2021 Director, Deputy General Manager, Railway Division; General Manager, Railway Safety Promotion Department, Railway Division; Senior Managing Director, Nippori Station Development Co., Ltd. Oct 2021 Director, Executive Officer, Deputy General Manager, Railway Division; General Manager, Railway Safety Promotion Department, Railway Division Jun 2023 Director, Managing Executive Officer, Deputy General Manager, Railway Division Jun 2024 Director, Managing Executive Officer, General Manager, Railway Division (current) Significant Concurrent Positions: President and Director, Hokuso Railway Co., Ltd.; President and Director, Chiba New Town Railway Co., Ltd.
1962-03-06
Kenji SHIMIZU
Director, Managing Executive Officer, General Manager, Development Division
Apr 1990 Joined Keisei Electric Railway Jul 2013 General Manager, Development Business Division, Keisei Electric Railway Jun 2016 General Manager, Development Business Division; President and Director, Keisei Real Estate Co., Ltd. Jun 2018 General Manager, Development Business Division; President and Director, Keisei Rose Gardening Co., Ltd. Oct 2021 Executive Officer, General Manager, Housing Business Division and Rental Business Division, Development Division, Keisei Electric Railway Jun 2022 Director, Executive Officer, Deputy General Manager, Development Division Jun 2024 Director, Managing Executive Officer, General Manager, Development Division (current) Significant Concurrent Positions: President and Director, Keisei Real Estate Co., Ltd.
1967-10-07
Kunihiko YOSHIKAWA
Director, Managing Executive Officer, in charge of General Affairs and Accounting
Apr 1987 Joined Shin-Keisei Electric Railway Co., Ltd. Jun 2012 General Manager, Financial Strategy Department, Shin-Keisei Electric Railway Jun 2014 General Manager, Internal Audit Office and Business Planning Office, Shin-Keisei Electric Railway Jun 2016 Director, General Manager, Internal Audit Office and Business Planning Office, Shin-Keisei Electric Railway Jun 2018 Director, General Manager, Internal Audit Office, in charge of General Affairs and Human Resources, Shin-Keisei Electric Railway Jun 2021 Managing Director, General Manager, Internal Audit Department, in charge of General Affairs and Human Resources, Shin-Keisei Electric Railway Jun 2024 Managing Director, General Manager, Internal Audit Department, in charge of Business Planning and General Affairs and Human Resources, Shin-Keisei Electric Railway Apr 2025 Adviser, Keisei Electric Railway Jun 2025 Director, Managing Executive Officer, in charge of Group Strategy, General Affairs and Human Resources, Keisei Electric Railway Jun 2026 Director, Managing Executive Officer, in charge of General Affairs and Accounting (current)
1963-07-15
Takeshi HASHIMOTO
Director, Executive Officer, in charge of Internal Audit and Management Oversight
Apr 1992 Joined Keisei Electric Railway Jul 2019 General Manager, Accounting Department, Keisei Electric Railway Jul 2021 General Manager, Internal Audit Department, Keisei Electric Railway Jun 2023 Executive Officer, General Manager, Internal Audit Department, Keisei Electric Railway Jun 2025 Director, Executive Officer, in charge of Internal Audit and Accounting, Keisei Electric Railway Jun 2026 Director, Executive Officer, in charge of Internal Audit and Management Oversight (current)
1970-02-10
Kenji NAGATSUKA
Director, Executive Officer, in charge of Group Strategy and Human Resources
Apr 1994 Joined Keisei Electric Railway Jul 2020 General Manager, General Affairs Department and General Manager, Human Resources Department, Keisei Electric Railway Jul 2022 Department Manager, Human Resources Department, Keisei Electric Railway; Director and President, Chiba Kaihin Transport Co., Ltd. Jun 2024 Executive Officer, General Manager, Transportation Department, Railway Division, Keisei Electric Railway Jun 2026 Director, Executive Officer, in charge of Group Strategy and Human Resources (current)
1972-01-28
Shotaro TOCHIGI
Director
Apr 1973 Appointed Public Prosecutor Jul 2007 Public Prosecutor-General, Fukuoka High Public Prosecutors Office Apr 2009 President, Japan International Training Cooperation Organization (public interest foundation) Apr 2009 Registered as Attorney-at-Law (Daiichi Tokyo Bar Association) Apr 2009 Opened Tochigi Law Office; Attorney at the same office (current) Jun 2018 Director, Keisei Electric Railway (current) Significant Concurrent Positions: Attorney-at-Law
1946-11-11
Takashi KIKUCHI
Director
Nov 1976 Corporate Auditor, Nanyu Shosha Co., Ltd. Jun 2016 Chairman of the Board, Powdertech Co., Ltd. (current) Oct 2016 Chairman of the Board, Keiyo Gas Co., Ltd. (current) Mar 2020 Outside Director, K&O Energy Group, Inc. (current) Jun 2020 Director, Keisei Electric Railway (current) Significant Concurrent Positions: Chairman of the Board, Powdertech Co., Ltd.; Chairman of the Board, Keiyo Gas Co., Ltd.; Outside Director, K&O Energy Group, Inc.; Outside Director, Oriental Land Co., Ltd.
1950-04-09
Takako AMITANI
Director
Apr 1981 Joined The Mitsubishi Bank, Ltd. Sep 1993 Registered as Certified Public Accountant Sep 1993 Principal, Amitani Certified Public Accountant Office (current) Mar 2005 Registered as Certified Tax Accountant Jun 2019 Outside Director, Shin-Keisei Electric Railway Co., Ltd. Jun 2023 Director, Keisei Electric Railway (current) Significant Concurrent Positions: Certified Public Accountant and Certified Tax Accountant; Outside Director, Kanto Denka Kogyo Co., Ltd.
1958-07-21
Akiko NAKAJIMA
Director
Apr 1976 Full-time Lecturer, Mejiro Gakuen Women's Junior College Apr 1999 Professor, Wayo Women's University Apr 2014 Director, Regional Collaboration Center, Wayo Women's University Apr 2017 Representative, Research Institute for Comprehensive Living, Wayo Women's University May 2018 Professor Emeritus, Wayo Women's University (current) Apr 2019 Councillor, Wayo Gakuen Educational Corporation (current) Jun 2024 Director, Keisei Electric Railway (current) Significant Concurrent Positions: Councillor, Wayo Gakuen Educational Corporation
1946-12-15
Toshiyuki ISHIUCHI
Director
Apr 1985 Joined Mitsui Trust Bank, Limited Apr 2012 Executive Officer, General Manager, Credit Examination Department No. 2, Sumitomo Mitsui Trust Bank, Limited Apr 2013 Vice President and Director, Sumitomo Mitsui Trust Real Estate Investment Advisors Co., Ltd. Jun 2014 Director, General Manager, Asset Management Department, Premier REIT Advisors Co., Ltd. Jun 2020 Full-time Corporate Auditor, Nihon Kabunushi Data Service Co., Ltd. Apr 2022 Full-time Corporate Auditor, SMTB General Services Co., Ltd. Apr 2024 Full-time Corporate Auditor, SMTB Life Partners Co., Ltd. Jun 2024 Director, Keisei Electric Railway (current)
1962-01-28
Masako TOMIZUKA
Director
Apr 1985 Joined Chiba Prefectural Government Apr 2017 General Manager, Chiba Attractiveness Promotion Department, Chiba Prefectural Government Apr 2019 General Manager, Environment and Living Department, Chiba Prefectural Government Apr 2021 Superintendent of Education, Board of Education, Chiba Prefectural Government Jun 2025 Director, Keisei Electric Railway (current) Significant Concurrent Positions: Professor, Department of Business and Life, Junior College Division, Chiba Keizai University
1961-06-11
Wataru TAKAHASHI
Director
Apr 1981 Joined Oriental Land Co., Ltd. Apr 2007 President and Director, Ikspiari Co., Ltd. Apr 2009 Executive Officer, Oriental Land Co., Ltd. Jun 2017 Director, Executive Officer, Oriental Land Co., Ltd. Apr 2019 Director, Managing Executive Officer, Oriental Land Co., Ltd. Apr 2025 President and Director, COO, President Executive Officer, Oriental Land Co., Ltd. (current) Jun 2026 Director, Keisei Electric Railway (current) Significant Concurrent Positions: President and Director, COO, President Executive Officer, Oriental Land Co., Ltd.
1957-07-19
Makoto KAWASUMI
Standing Corporate Auditor
Apr 1989 Joined Keisei Electric Railway Jul 2012 Department Manager, General Affairs and Human Resources Department, Keisei Electric Railway; Managing Director, Teito Motor Transport Co., Ltd. Jun 2016 Director, General Manager, Accounting Department, Keisei Electric Railway Jun 2019 Managing Director, in charge of Accounting, Keisei Electric Railway Jun 2020 Managing Director, in charge of Accounting; Director and President, Your Elm Keisei Co., Ltd. Oct 2021 Director, Managing Executive Officer, in charge of Accounting; Director and President, Your Elm Keisei Co., Ltd. Jun 2022 Director and President, Your Elm Keisei Co., Ltd. Jul 2022 Chairman of the Board, Keisei Store Co., Ltd. Jun 2024 Standing Corporate Auditor, Keisei Electric Railway (current)
1967-03-08
Yoshihito KITADA
Standing Corporate Auditor
Apr 1991 Joined Shin-Keisei Electric Railway Co., Ltd. Jun 2016 General Manager, Railway Division Planning and Safety Department, Shin-Keisei Electric Railway Jun 2019 General Manager, Financial Strategy Department, Shin-Keisei Electric Railway Jun 2023 Standing Corporate Auditor, Shin-Keisei Electric Railway Apr 2025 Adviser, Keisei Electric Railway Jun 2025 Standing Corporate Auditor, Keisei Electric Railway (current)
1969-01-16
Ken KOBAYASHI
Corporate Auditor
Apr 1979 Joined Development Bank of Japan Jun 2010 Managing Executive Officer, Development Bank of Japan Inc. Jun 2011 Corporate Auditor, Development Bank of Japan Inc. Jun 2014 Director, Managing Executive Officer, Japan Nuclear Fuel Limited Jun 2016 Managing Executive Officer, Japan Nuclear Fuel Limited Jun 2018 Adviser, Capital Investment Research Institute, Development Bank of Japan Inc. Jun 2018 Outside Corporate Auditor, Takagi Seiko Co., Ltd. Jun 2018 Outside Corporate Auditor, Mitsubishi Paper Mills Limited Jun 2019 Chairman of the Board, DBJ Capital Co., Ltd. Jun 2019 Corporate Auditor, Keisei Electric Railway (current) Significant Concurrent Positions: Outside Corporate Auditor, Kyoto Hotel Co., Ltd.
1955-04-11
Tsuneaki TESHIMA
Corporate Auditor
Apr 1983 Joined Nippon Life Insurance Company Mar 2017 Director, Managing Executive Officer, Nippon Life Insurance Company Apr 2018 President and Director, Nissay Research Institute, Ltd. (current) Jun 2018 Outside Corporate Auditor, Nitta Corporation Jun 2021 Corporate Auditor, Keisei Electric Railway (current) Significant Concurrent Positions: President and Director, Nissay Research Institute, Ltd.; Outside Corporate Auditor, Mitsubishi Gas Chemical Company, Inc.
1960-10-21
Makoto SONE
Corporate Auditor
Apr 1983 Joined The Sanwa Bank, Limited May 2014 Managing Executive Officer, The Bank of Tokyo-Mitsubishi UFJ, Ltd. Jun 2023 President and Director, Sanshin Corporation Jun 2024 Outside Corporate Auditor, Kyoto Seisakusho Co., Ltd. (current) Jun 2025 Outside Director, Okurayaj Jutaku Co., Ltd. (current) Jun 2026 Chairman of the Board, Sanshin Corporation (current) Jun 2026 Corporate Auditor, Keisei Electric Railway (current) Significant Concurrent Positions: Chairman of the Board, Sanshin Corporation; Outside Corporate Auditor, Kyoto Seisakusho Co., Ltd.; Outside Director, Okurayaj Jutaku Co., Ltd.
1960-09-03
Large Shareholding Reports
Amova Asset Management Co., Ltd.
2025-09-19
2.46%→2.43%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-07-31
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-26
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-01-30
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
2025-07-31
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-27
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-01-31
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-07-31
Q1 Earnings Flash
FY ending Mar 2025
EDINETAmended
2024-07-03
Amended Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2024-06-27
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-13
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-14
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-29
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
2022-08-10
Quarterly Securities Report
EDINET
2022-06-29
Annual Securities Report
EDINET
2022-02-10
Quarterly Securities Report
EDINET
2021-11-11
Quarterly Securities Report
EDINET
2021-08-12
Quarterly Securities Report
EDINET
2021-06-29
Annual Securities Report
EDINET
2021-02-12
Quarterly Securities Report
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