Overview
Land Transportation

Kobe Electric Railway Co.,Ltd.

Kobe Electric Railway operates a regional railway network in Hyogo Prefecture, connecting Kobe with the Arima, Sanda, and Miki areas, with additional operations in bus transportation and taxi services. The company diversifies its revenue base through real estate development and leasing activities along its railway corridors. Complementary businesses include food supermarkets, travel services, facility management, and financial services operated through its group subsidiaries.

Market Cap
¥18.2B
US$116M
EV
¥69.1B
US$441M
Stock¥2,306▼-0.09%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
15.2
x
LTM EV/EBIT
30.2
x
LTM PER
13.2
x
LTM PBR
0.7
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-28.2%pt
1001
Oct 24, 25 – Oct 23, 26StockTOPIX
1Oct 30, 25Results: FY guidance cut or Q3 earnings disappointment
MC → EV Bridge
18.2BUS$116MMarket Cap55.2BUS$352M+ Debt1.73BUS$11.0M− Cash2.60BUS$16.6M− Inv. Sec.69.1BUS$441MEV
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Performance & Balance
Revenue 5Y (¥B)
20.5US$131M'22/321.3US$136M'23/322.3US$142M'24/322.1US$141M'25/323.3US$149M'26/3
EBITDA 5Y (¥B)
3.50US$22.3M'22/33.72US$23.7M'23/34.14US$26.4M'24/34.21US$26.9M'25/34.65US$29.7M'26/3
Net Income 5Y (¥B)
0.52US$3.31M'22/30.68US$4.31M'23/31.02US$6.53M'24/31.15US$7.33M'25/31.46US$9.32M'26/3
Capital Structure
32%
68%
EquityD/E 2.14xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
2.39US$15.2M58.8US$375M'22/32.66US$17.0M57.1US$364M'23/33.05US$19.4M54.9US$350M'24/32.88US$18.4M54.8US$350M'25/33.66US$23.3M54.4US$347M'26/3
Shareholders
Top 10 hold 39.0%
1
Hankyu Hanshin Holdings,Inc.
27.74%
2
The Master Trust Bank of Japan, Ltd. (Trust Account)
4.85%
3
Sumitomo Mitsui Banking Corporation
1.99%
4
The Minato Bank, Ltd.
1.05%
5
Hankyu Corporation
0.98%
6
BNP PARIBAS NEW YORK BRANCH-PRIME BROKERAGE CLEARANCE ACCOUNT (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
0.60%
7
UBS AG LONDON A/C IPB SEGREGATED CLIENT ACCOUNT (Standing Proxy: Citibank, N.A., Tokyo Branch)
0.58%
8
Mitsubishi UFJ Trust and Banking Corporation
0.42%
9
Custody Bank of Japan, Ltd. (Trust Account)
0.39%
10
Nishimatsu Construction Co.,Ltd.
0.38%
Management
10 officers
Nobuhiko TERADA
Chairman and Director
Apr 1980 Joined Hankyu Corporation Jun 2003 General Manager, Railway Operations Department, Urban Transportation Business Headquarters, Hankyu Corporation Jun 2005 Director, Hankyu Bus Co., Ltd. Apr 2007 Managing Director, Hankyu Bus Co., Ltd. Apr 2008 Director, Hankyu Corporation Apr 2011 Managing Director, Hankyu Corporation Apr 2013 Representative Director, President, Hankyu Bus Co., Ltd. Jun 2016 Representative Director, President, the Company Jun 2024 Representative Director, Chairman, the Company (current)
1957-10-11
Hiroshi INAMI
Representative Director, President
Apr 1985 Joined Hankyu Corporation Jun 2008 Director, General Manager, Planning Department, Kita-Osaka Kyuko Electric Railway Co., Ltd. Jun 2009 Managing Director, Kita-Osaka Kyuko Electric Railway Co., Ltd. Apr 2012 General Manager, Group Management Planning Office, Hankyu Hanshin Holdings, Inc. Apr 2015 Managing Director, Hankyu Bus Co., Ltd. Apr 2016 Representative Director, President, Hankyu Bus Co., Ltd. Jun 2024 Representative Director, President, the Company (current)
1962-08-23
Hiroaki TSUYAMA
Director, Managing Executive Officer (in charge of Corporate Planning Department; in charge of General Affairs and Human Resources Department; in charge of Sustainability Promotion Department)
Apr 1982 Joined the Company Apr 2002 Group Leader, Human Resources Group, Corporate Headquarters, the Company Jun 2007 Representative Director, President, Osaka ShinTetsu Toyonaka Taxi Co., Ltd. Jun 2012 Director, the Company Jun 2012 General Manager, Real Estate Business Headquarters, the Company Jun 2012 Deputy General Manager, Life Support Business Headquarters, the Company Jun 2018 Managing Director, the Company Jun 2022 Director, Managing Executive Officer, the Company (current)
1958-04-29
Kanehiro MORI
Director, Executive Officer (General Manager, Real Estate Business Headquarters) (General Manager, Real Estate Business Department, Real Estate Business Headquarters)
Apr 1989 Joined the Company Apr 2009 General Manager, Real Estate Business Department, Real Estate Business Headquarters Apr 2020 Deputy General Manager, Real Estate Business Headquarters, and General Manager, Real Estate Business Department Jun 2022 Executive Officer, Deputy General Manager, Real Estate Business Headquarters, and General Manager, Real Estate Business Department Jun 2024 Executive Officer, General Manager, Real Estate Business Headquarters, and General Manager, Real Estate Business Department (current)
1966-07-17
Eiichi HATA
Director, Audit and Supervisory Committee Member
Apr 1983 Joined the Company Oct 2003 Group Leader, Planning Group, Corporate Headquarters, the Company Apr 2009 Deputy General Manager, Railway Business Headquarters, and General Manager, Transportation Department, Railway Business Headquarters, the Company Apr 2019 Deputy General Manager, Railway Business Headquarters, the Company (current) Apr 2020 General Manager, Safety Measures Department, Railway Business Headquarters, the Company (current) Jun 2020 Director, the Company Jun 2022 Director, Executive Officer, the Company (current)
1960-03-10
Masahiro OKUNO
Director, Managing Executive Officer (General Manager, Railway Business Headquarters)
Apr 1988 Joined Hankyu Corporation Apr 2015 General Manager, Urban Transportation Planning Department, Urban Transportation Business Headquarters, Hankyu Corporation Jun 2018 General Manager, Transportation Project Promotion Department, Urban Transportation Business Headquarters, Hankyu Corporation Apr 2024 Representative Director, President, Kita-Osaka Kyuko Electric Railway Co., Ltd. (current)
1964-03-10
Masatoshi KASUYA
Director
Apr 1981 Joined Hyogo Prefectural Government Apr 2016 Director-General, Land Development Department, Hyogo Prefectural Government Apr 2018 President, Hyogo Prefecture Horticulture and Park Association (Public Interest Incorporated Foundation) Apr 2019 President, Hyogo Machizukuri Technology Center (Public Interest Incorporated Foundation) Jun 2020 Director, the Company (current)
1958-01-22
Toshiro TAMADA
Director
Apr 1979 Joined Kobe City Government Apr 2004 Director, Research Office, Planning and Coordination Bureau, Kobe City Apr 2007 General Manager, Planning and Coordination Department, Planning and Coordination Bureau, Kobe City Apr 2008 Advisor, Planning and Coordination Bureau (in charge of Medical Industry City), Kobe City Apr 2010 Director-General, Finance and Administration Bureau, Kobe City Nov 2013 Deputy Mayor, Kobe City Sep 2018 President, Kobe City Council of Social Welfare (Social Welfare Corporation) Aug 2025 Advisor, Kobe Citizens' Welfare Promotion Association (Public Interest Incorporated Foundation) (current)
1957-03-15
Yoko IMAI
Director, Audit and Supervisory Committee Member
Apr 1998 Registered as Attorney-at-Law Apr 1998 Joined Hyogo Bar Association Apr 1998 Joined Higashimachi Law Office (current) Jun 2022 Director, Audit and Supervisory Committee Member, the Company (current)
1970-12-24
Takahiro MATSUZAKA
Director, Audit and Supervisory Committee Member
Apr 1974 Joined The Taiyo Kobe Bank, Ltd. Jun 2002 Executive Officer, General Manager, Himeji Corporate Banking Department, Sumitomo Mitsui Banking Corporation Jun 2008 Deputy President, Kobe Tochi Tatemono Co., Ltd. Jun 2012 President, Kobe Tochi Tatemono Co., Ltd. Jun 2014 Outside Corporate Auditor (full-time), Bando Chemical Industries, Ltd. Jun 2016 Outside Director (full-time Audit and Supervisory Committee Member), Bando Chemical Industries, Ltd. Jun 2018 Outside Director (Audit and Supervisory Committee Member), Bando Chemical Industries, Ltd. Jun 2023 Director, the Company (current)
1950-08-11
Large Shareholding Reports
Hankyu Hanshin Holdings, Inc.
2026-04-13
27.23%→26.80%
Annual report (as of 2026-03-31): 27.74%
Hankyu Hanshin Holdings, Inc.
2026-04-03
27.77%→27.23%
Annual report (as of 2026-03-31): 27.74%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-07-30
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-12
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-04-13
Large Shareholding Report
EDINET
2026-04-03
Large Shareholding Report
TDnet
2026-01-29
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-12
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-07-30
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-12
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-03
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-12
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-01
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-14
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-10
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-16
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-14
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-11
Quarterly Securities Report
EDINET
2022-08-12
Quarterly Securities Report
EDINET
2022-06-15
Annual Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-12
Quarterly Securities Report
EDINET
2021-06-16
Annual Securities Report
EDINET
2021-02-12
Quarterly Securities Report
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