Tokyu Corporation (JP:9005)
:9005
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Tokyu
(9005)
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Rating:59Neutral
Price Target:
¥1,720.00
▼(-6.72% Downside)
Action:Reiterated
Date:05/14/26
The score is driven primarily by improved operating performance but offset by leverage and volatile/negative recent free cash flow. Technicals are notably weak (downtrend despite oversold signals), while valuation is comparatively supportive with a modest P/E and dividend yield.
Positive Factors
Integrated business model
Tokyu’s integrated transit-and-real-estate model links rail operations with station-area property development and retail, creating recurring fare and rental income streams. This vertical synergy supports stable demand, cross-selling, and higher long-term asset values versus stand-alone operators.
Negative Factors
Elevated leverage
Tokyu carries significant leverage despite improvement, leaving limited financial flexibility. High debt-to-equity increases refinancing and interest-rate exposure, constrains capacity for discretionary investment or buybacks, and raises downside risk if operating cash flow weakens.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated business model
Tokyu’s integrated transit-and-real-estate model links rail operations with station-area property development and retail, creating recurring fare and rental income streams. This vertical synergy supports stable demand, cross-selling, and higher long-term asset values versus stand-alone operators.
Read all positive factors
Tokyu (9005) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥1.00T
Dividend Yield1.48%
Average Volume (3M)1.33M
Price to Earnings (P/E)10.8
Beta (1Y)0.29
Revenue Growth2.96%
EPS Growth13.25%
CountryJP
Employees23,583
SectorConsumer Cyclical
Sector Strength84
IndustryDepartment Stores
Share Statistics
EPS (TTM)152.22
Shares Outstanding624,869,900
10 Day Avg. Volume1,443,180
30 Day Avg. Volume1,329,756
Financial Highlights & Ratios
PEG Ratio0.95
Price to Book (P/B)1.17
Price to Sales (P/S)0.98
P/FCF Ratio-29.87
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)157.18
Revenue Forecast (FY)¥1.13T
Tokyu Business Overview & Revenue Model
Company Description
Tokyu Corporation, alongside its various subsidiaries, conducts a broad array of operations both within Japan and worldwide. Its diverse business segments include transportation (encompassing railway, bus, and airport services), real estate (invol...
How the Company Makes Money
Tokyu makes money through a transit-and-real-estate ecosystem built around its railway lines. A core revenue stream is transportation income from passenger fares on its rail network and related transport services; ridership levels, commuter demand...
Tokyu Earnings Call Summary
Earnings Call Date:Nov 08, 2024
(Q2-2024)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The earnings call highlighted strong financial performance with significant year-on-year growth in revenue and profits. Positive results were seen across multiple segments, and the company presented an improved full-year forecast. New projects and developments are on track, and there were notable achievements in the hotel sector and ESG initiatives. However, some challenges remain, such as lower commuter usage on the Shin-Yokohama Line and risks from rising construction costs.Positive Updates
Strong Year-on-Year Growth in Q2 FY 2023
Operating revenue was JPY 483.4 billion, up JPY 48.7 billion year-on-year. Operating profit rose by JPY 23.7 billion, and profit attributable to owners of parent increased by JPY 16.5 billion.
Negative Updates
Lower Than Expected Commuter Usage on Shin-Yokohama Line
Although the new line reached 70% of its passenger target, commuter usage has not yet met expectations, requiring time for public awareness and demand generation.
Read all updates
Q2-2024 Updates
Positive
Negative
Strong Year-on-Year Growth in Q2 FY 2023
Operating revenue was JPY 483.4 billion, up JPY 48.7 billion year-on-year. Operating profit rose by JPY 23.7 billion, and profit attributable to owners of parent increased by JPY 16.5 billion.
Read all positive updates
Company Guidance
During the earnings call for Tokyu Corporation's second quarter of FY 2024, President Horie provided comprehensive guidance on financial performance and forecasts. The company reported operating revenue of JPY 483.4 billion and an operating profit of JPY 45.5 billion, with profits attributable to owners at JPY 35 billion, showing significant year-on-year increases of JPY 48.7 billion, JPY 23.7 billion, and JPY 16.5 billion, respectively. For the full year FY 2023, Tokyu Corporation forecasts operating revenue of JPY 1.0395 trillion, operating profit of JPY 85 billion, and profit attributable to owners of JPY 54 billion, reflecting an upward revision from earlier predictions. Key segments like Transportation and Real Estate saw notable improvements, with the Transportation sector alone revising its operating profit forecast up by JPY 7 billion due to increased fares and reduced power costs. The company also highlighted initiatives in urban development and sustainability, emphasizing a 38% reduction in CO2 emissions compared to FY 2019, and plans for a cyclical reinvestment strategy designed to enhance the value and competitiveness of areas along Tokyu lines. Additionally, Tokyu Corporation announced a year-end dividend of JPY 10, raising the annual dividend to JPY 17.5 per share.Tokyu Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
55
Neutral
Cash Flow
46
Neutral
| Breakdown | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.09T | 1.05T | 1.04T | 931.29B | 879.11B |
| Gross Profit | 341.47B | 321.48B | 308.05B | 249.65B | 227.32B |
| EBITDA | 209.57B | 202.98B | 189.54B | 132.86B | 119.58B |
| Net Income | 87.07B | 79.68B | 63.94B | 26.00B | 8.78B |
Balance Sheet | |||||
| Total Assets | 2.92T | 2.70T | 2.65T | 2.61T | 2.48T |
| Cash, Cash Equivalents and Short-Term Investments | 83.53B | 62.13B | 43.35B | 69.34B | 52.27B |
| Total Debt | 1.38T | 1.30T | 1.26T | 1.22T | 1.20T |
| Total Liabilities | 1.96T | 1.83T | 1.82T | 1.83T | 1.73T |
| Stockholders Equity | 911.13B | 827.98B | 790.50B | 740.62B | 702.97B |
Cash Flow | |||||
| Free Cash Flow | -35.64B | 24.56B | 28.47B | -59.28B | -31.13B |
| Operating Cash Flow | 127.75B | 155.10B | 145.33B | 95.40B | 85.58B |
| Investing Cash Flow | -172.06B | -113.73B | -99.88B | -152.88B | -77.23B |
| Financing Cash Flow | 65.46B | -25.53B | -73.08B | 73.06B | -2.95B |
Tokyu Technical Analysis
Negative
1844.00
Price Trends
1705.95
Negative
1783.73
Negative
1783.92
Negative
Market Momentum
-1.15
Negative
45.94
Neutral
21.12
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9005, the sentiment is Negative. The current price of 1844 is above the 20-day moving average (MA) of 1661.97, above the 50-day MA of 1705.95, and above the 200-day MA of 1783.92, indicating a neutral trend. The MACD of -1.15 indicates Negative momentum. The RSI at 45.94 is Neutral, neither overbought nor oversold. The STOCH value of 21.12 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:9005.
Tokyu Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | ¥1.36T | 17.95 | 9.37% | 2.59% | -1.78% | 51.07% | |
69 Neutral | ¥622.65B | 21.27 | 7.58% | 2.58% | 0.73% | -29.62% | |
68 Neutral | ¥313.98B | 8.35 | 4.97% | 2.01% | -0.23% | -16.92% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
59 Neutral | ¥1.00T | 10.82 | 9.25% | 1.48% | 2.96% | 13.25% | |
55 Neutral | ¥665.15B | -83.85 | 9.06% | 1.84% | -1.23% | -124.02% | |
49 Neutral | ¥3.65T | 48.80 | 2.27% | 0.52% | 5.73% | 135.19% |
* Consumer Cyclical Sector Average
JP:9005
Tokyu
1,663.50
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Tokyu Corporate Events
Tokyu Outlines FY2026 Results, FY2027 Targets and Urban Redevelopment Focus
May 13, 2026
Tokyu Corporation has released an investor presentation for the year ended March 31, 2026, outlining its management indices and numerical targets through fiscal 2027. The materials signal continued focus on major urban redevelopment projects, incl...
Tokyu to Introduce Bond-Type Class Shares to Support Growth Investments
May 12, 2026
Tokyu plans to amend its Articles of Incorporation to introduce bond-type class shares as a new financing option, aiming to fund ongoing investments that enhance the value of areas along its railway lines while preserving a solid financial base. B...
Tokyu to Issue Non-Dilutive Bond-Type Class Shares to Bolster Equity
May 12, 2026
Tokyu Corporation plans to issue bond-type class shares that are legally treated as equity under Japan’s Companies Act, allowing the full proceeds to be booked as equity while rating agencies are expected to assign 50% equity credit. These n...
Tokyu to Introduce Bond-Type Class Shares to Fund Growth While Protecting Common Shareholders
May 12, 2026
Tokyu Corporation plans to amend its Articles of Incorporation to allow issuance of up to six series of bond-type class shares as part of a broader financial strategy to support long-term growth. The move aims to fund continued investment in railw...
Tokyu Launches ¥20 Billion Share Buyback to Lift Capital Efficiency
May 12, 2026
Tokyu Corporation’s board has authorized a share buyback of up to 13 million common shares, representing about 2.28% of its outstanding stock excluding treasury shares, with a maximum outlay of ¥20 billion. The repurchase program will b...
Tokyu outlines FY2026 results and targets through FY2027
May 12, 2026
Tokyu Corporation released a summary of results for the year ended March 31, 2026, outlining financial performance and key indicators across its business segments. The company also presented management indices, numerical targets for fiscal 2027, a...
Tokyu lifts profit and balance sheet strength while raising dividend for FY2026
May 12, 2026
Tokyu Corporation reported a 3.0% year-on-year rise in consolidated operating revenue to ¥1.09 trillion for the fiscal year ended March 31, 2026, while operating profit was essentially flat at about ¥103.2 billion. Ordinary profit climbe...
Tokyu Completes Nearly ¥10 Billion Share Buyback Program
Mar 16, 2026
Tokyu Corporation has completed a share buyback program authorized by its board in May 2025, under which it repurchased common shares on the market to enhance capital efficiency. The company is a key transportation and urban services operator in J...
Tokyu Nears Completion of ¥10 Billion Share Buyback Program
Mar 6, 2026
Tokyu Corporation has disclosed the latest tranche of its ongoing share buyback program, repurchasing 641,800 common shares on the market between February 1 and February 28, 2026, for a total of about ¥1.25 billion. These acquisitions are bei...
Tokyu Lifts Profit and Dividend Outlook as Balance Sheet Strengthens
Feb 27, 2026
Tokyu Corporation reported consolidated operating revenue of ¥784.6 billion for the nine months to Dec. 31, 2025, essentially flat year on year, while operating profit declined 5.8% to ¥88.2 billion. Ordinary profit rose 2.4% to ¥99...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.