Interim report
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DISCLAIMER: This document has been translated from a part of 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. October 30, 2025 Consolidated Financial Results for the Six Months Ended September 30, 2025 (Under Japanese GAAP) Company name: Hankyu Hanshin Holdings, Inc. Listing: Tokyo Stock Exchange Securities code: 9042 URL: https://www.hankyu-hanshin.co.jp/ Representative: Yasuo Shimada, President and Representative Director Inquiries: Hideo Nobumoto, General Manager, Accounting Department, Group Planning Division Telephone: +81-6-6373-5013 Scheduled date to file semi-annual securities report: November 12, 2025 Scheduled date to commence dividend payments: December 1, 2025 Preparation of supplementary material on financial results: Yes Holding of financial results briefing: Yes (for institutional investors and analysts) (Yen amounts are rounded down to millions, unless otherwise noted.) 1. Consolidated financial results for the six months ended September 30, 2025 (from April 1, 2025 to September 30, 2025) (1) Consolidated operating results (Percentages indicate year-on-year changes.) Operating revenues Operating profit Ordinary profit Profit attributable to owners of parent Six months ended Millions of yen % Millions of yen % Millions of yen % Millions of yen % September 30, 2025 598,833 12.0 84,075 25.9 85,135 20.1 53,875 5.9 September 30, 2024 534,656 10.1 66,797 3.9 70,867 5.9 50,878 13.4 Basic earnings per share Diluted earnings per share Six months ended Yen Yen September 30, 2025 226.28 226.23 September 30, 2024 212.36 212.12 (2) Consolidated financial position Total assets Net assets Equity-to-asset ratio As of Millions of yen Millions of yen % September 30, 2025 3,346,333 1,172,956 32.2 March 31, 2025 3,283,453 1,132,460 31.5 2. Cash dividends Annual dividends per share First quarter-end Second quarter-end Third quarter-end Fiscal year-end Total Yen Yen Yen Yen Yen Fiscal year ended March 31, 2025 - 30.00 - 30.00 60.00 Fiscal year ending March 31, 2026 - 50.00 Fiscal year ending March 31, 2026 (Forecast) 50.00 100.00 3. Forecast of consolidated financial results for the fiscal year ending March 31, 2026 (from April 1, 2025 to March 31, 2026) (Percentages indicate year-on-year changes.) Operating revenues Operating profit Ordinary profit Profit attributable to owners of parent Basic earnings per share Millions of yen % Millions of yen % Millions of yen % Millions of yen % Yen Fiscal year ending March 31, 2026 1,200,000 8.4 127,400 14.9 125,000 12.4 78,000 15.8 328.14
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* Notes (1) Significant changes in the scope of consolidation during the period: None (2) Adoption of accounting treatment specific to the preparation of semi-annual consolidated financial statements:None (3) Changes in accounting policies, changes in accounting estimates, and restatement (i) Changes in accounting policies due to revisions to accounting standards and other regulations: None (ii) Changes in accounting policies due to other reasons: None (iii) Changes in accounting estimates: None (iv) Restatement: None (4) Number of issued shares (common shares) (i) Total number of issued shares at the end of the period (including treasury shares) As of September 30, 2025 253,008,756 shares As of March 31, 2025 253,008,756 shares (ii) Number of treasury shares at the end of the period As of September 30, 2025 15,752,794 shares As of March 31, 2025 14,336,626 shares (iii) Average number of shares outstanding during the period(cumulative from the beginning of the fiscal year) Six months ended September 30, 2025 238,090,786 shares Six months ended September 30, 2024 239,582,326 shares
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Semi-annual consolidated balance sheet (Millions of yen) As of March 31, 2025 As of September 30, 2025 Assets Current assets Cash and deposits 61,052 62,073 Notes and accounts receivable - trade 102,271 99,117 Land and buildings for sale 368,708 417,633 Merchandise and finished goods 3,915 4,132 Work in process 3,557 6,925 Raw materials and supplies 6,553 6,963 Other 72,948 65,445 Allowance for doubtful accounts (888) (809) Total current assets 618,119 661,482 Non-current assets Property, plant and equipment Buildings and structures, net 664,350 659,930 Machinery, equipment and vehicles, net 67,512 70,931 Land 1,031,604 1,028,578 Construction in progress 274,564 271,548 Other, net 30,851 28,167 Total property, plant and equipment 2,068,883 2,059,157 Intangible assets 43,223 44,846 Investments and other assets Investment securities 456,686 483,805 Deferred tax assets 6,388 5,983 Retirement benefit asset 27,451 27,496 Other 62,876 63,740 Allowance for doubtful accounts (175) (179) Total investments and other assets 553,227 580,846 Total non-current assets 2,665,334 2,684,850 Total assets 3,283,453 3,346,333
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(Millions of yen) As of March 31, 2025 As of September 30, 2025 Liabilities Current liabilities Notes and accounts payable - trade 48,458 41,972 Accrued expenses 25,445 17,495 Short-term borrowings 169,367 193,390 Commercial papers - 10,000 Current portion of bonds payable 30,000 20,000 Lease liabilities 4,031 3,291 Income taxes payable 20,328 23,672 Provision for bonuses 5,938 6,667 Other 232,430 186,686 Total current liabilities 536,001 503,176 Non-current liabilities Long-term borrowings 774,025 796,824 Bonds payable 295,000 315,000 Lease liabilities 10,351 9,146 Deferred tax liabilities 184,122 184,991 Deferred tax liabilities for land revaluation 5,267 5,267 Retirement benefit liability 57,677 56,994 Long-term deferred contribution for construction 140,178 145,666 Other 148,369 156,308 Total non-current liabilities 1,614,992 1,670,200 Total liabilities 2,150,993 2,173,376 Net assets Shareholders' equity Share capital 99,474 99,474 Capital surplus 147,056 147,057 Retained earnings 782,720 829,144 Treasury shares (53,678) (59,362) Total shareholders' equity 975,572 1,016,314 Accumulated other comprehensive income Valuation difference on available-for-sale securities 34,505 42,809 Deferred gains or losses on hedges (259) 392 Revaluation reserve for land 5,373 5,374 Foreign currency translation adjustment 11,391 2,161 Remeasurements of defined benefit plans 9,308 8,853 Total accumulated other comprehensive income 60,319 59,591 Non-controlling interests 96,568 97,051 Total net assets 1,132,460 1,172,956 Total liabilities and net assets 3,283,453 3,346,333
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Semi-annual consolidated statement of income (Millions of yen) Six months ended September 30, 2024 Six months ended September 30, 2025 Operating revenue 534,656 598,833 Operating expenses Operating expenses and cost of sales of transportation 452,201 497,167 Selling, general and administrative expenses 15,657 17,589 Total operating expenses 467,858 514,757 Operating profit 66,797 84,075 Non-operating income Interest income 565 594 Dividend income 506 707 Share of profit of entities accounted for using equity method 10,495 8,409 Miscellaneous income 837 1,157 Total non-operating income 12,405 10,869 Non-operating expenses Interest expenses 5,683 7,366 Miscellaneous expenses 2,652 2,442 Total non-operating expenses 8,335 9,809 Ordinary profit 70,867 85,135 Extraordinary income Contribution received for construction 203 197 Gain on sale of non-current assets 262 2,001 Gain on sale of businesses 1,136 98 Other 217 143 Total extraordinary income 1,820 2,440 Extraordinary losses Loss on tax purpose reduction entry of non-current assets 263 523 Provision for loss on removal of property and equipment - 6,265 Loss on change in equity 2,036 - Other 1,261 808 Total extraordinary losses 3,561 7,596 Profit before income taxes 69,127 79,979 Income taxes - current 20,667 23,204 Income taxes - deferred (3,756) 762 Total income taxes 16,910 23,966 Profit 52,216 56,012 Profit attributable to non-controlling interests 1,338 2,136 Profit attributable to owners of parent 50,878 53,875
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Semi-annual consolidated statement of comprehensive income (Millions of yen) Six months ended September 30, 2024 Six months ended September 30, 2025 Profit 52,216 56,012 Other comprehensive income Valuation difference on available-for-sale securities 1,080 2,209 Deferred gains or losses on hedges (788) 652 Foreign currency translation adjustment 9,877 (10,519) Remeasurements of defined benefit plans, net of tax (561) (351) Share of other comprehensive income of entities accounted for using equity method (8) 2,429 Total other comprehensive income 9,599 (5,580) Comprehensive income 61,815 50,431 Comprehensive income attributable to Comprehensive income attributable to owners of parent 55,877 52,698 Comprehensive income attributable to non-controlling interests 5,938 (2,266)
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Segment Information The previous interim consolidated accounting period (April 1, 2024 to September 30, 2024) (Millions of yen) Reportable segments Other Adjustment amount Interim Consolidated Statements of Income Urban Transportation Real Estate Entertainment Information and Communication Technology Travel International Transportation Business Income (1) Sales revenue to external customers 99,591 158,055 50,181 24,994 131,051 49,783 20,690 308 534,656 (2) Internal operating revenue or transfers between segments 2,461 4,959 807 5,440 37 44 7,702 (21,452) - Total 102,052 163,014 50,989 30,435 131,088 49,827 28,392 (21,144) 534,656 Segment profit (loss) 19,705 29,080 14,943 2,049 4,798 (1,652) 1,045 (3,173) 66,797 The interim consolidated accounting period (April 1, 2025 to September 30, 2025) (Millions of yen) Reportable segments Other Adjustment amount Interim Consolidated Statements of Income Urban Transportation Real Estate Entertainment Information and Communication Technology Travel International Transportation Business Income (1) Sales revenue to external customers 105,904 186,171 53,541 25,052 151,720 51,726 24,489 226 598,833 (2) Internal operating revenue or transfers between segments 2,487 5,218 1,141 5,985 76 39 6,231 (21,181) - Total 108,391 191,390 54,683 31,037 151,796 51,766 30,721 (20,954) 598,833 Segment profit (loss) 22,388 37,357 16,287 1,939 6,767 677 1,397 (2,738) 84,075