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ngs di l Ho n i u Hansh ky an Securities code: 9042 REPORT ANNUAL 2018 H Hankyu Hanshin Holdings, Inc. ANNUAL REPORT 2018 Contents Page Profile 1 Group Management Philosophy 1 History of the Hankyu Hanshin Holdings Group 3 At a Glance 5 Service Area 7 Financial Highlights, Non-Financial Highlights 11 １ Strategy for Enhancement of Corporate Value 13 Message from Chairman 13 Message from President 15 Summary of Long-Term Management Vision for 2025 and Medium-Term Management Plan 21 Four Strategies for Medium-Term Management Plan 23 Value Creation Process of Hankyu Hanshin Holdings 29 What we try to achieve 2 Enhancing Our Corporate Value 31 Mission By delivering“Safety and Comfort” and“Dreams and Excitement,” Urban Transportation 31 we create satisfaction among our customers and contribute to society. Real Estate 33 Entertainment and Communications 35 Travel 37 International Transportation 39 Hotels 41 3 The Basis of Enhanced Corporate Value 43 What is important to us Directors and Audit & Supervisory Board Members 43 Values An Interview with an External Director 45 Management Organization 47 Customers First Safety Initiatives in the Railway Business 53 Social Contribution Initiatives 57 Everything we do is for the customer. That’s where it all starts. Environmental Initiatives 60 Health Management and Initiatives to Promote Women 62 Financial Section and Corporate Data 64 Sincerity Consolidated Six-Year Summary 65 Gain customers’ confidence Consolidated Financial Review 66 Business Risks by always being sincere. 70 Consolidated Balance Sheets 71 Consolidated Statements of Income / Consolidated Statements of Comprehensive Income 73 Foresight & Creativity Consolidated Statements of Changes in Net Assets 74 Consolidated Statements of Cash Flows 76 With our pioneer spirit and flexible thinking, Notes to the Consolidated Financial Statements 77 List of Major Domestic Rental and Sales Properties we create a new value. 100 List of Overseas Sales Properties 101 Major Group Companies 102 Investor Information 103 Respect for People Definition of the areas served by the Hankyu and Hanshin lines: Below are lists of areas with Hankyu Corporation and Hanshin Electric Railway stations (including tier 2 railway operators). Everyone is absolutely Osaka Prefecture: Osaka City (Fukushima, Konohana, Nishi, Naniwa, Nishi-Yodogawa, Higashi-Yodogawa, Yodogawa, Kita, and Chuo, out of a total of 24 wards); and Toyonaka, Ikeda, Suita, Takatsuki, Ibaraki, Minoh, and Settsu cities and Shimamoto town invaluable to the Group. Hyogo Prefecture: Kobe City (Higashi-Nada, Nada, Hyogo, Nagata, and Chuo, out of a total of 9 wards); and Amagasaki, Nishinomiya, Ashiya, Itami, Takarazuka and Kawanishi cities Kyoto Prefecture: Kyoto City (Nakagyo, Shimogyo, Ukyo, and Nishikyo, out of a total of 11 wards); and Muko and Nagaokakyo cities and Oyamazaki town Forward-Looking Statements The reader is advised that this annual report contains forward-looking statements regarding the future plans, strategies, and earnings performance of Hankyu Hanshin Holdings, Inc., which are not statements of historical fact but constitute estimates or projections based on facts known to the Company’s management as of the time of writing. Actual results may therefore differ substantially from such statements. About the Compilation of this Annual Report and the Auditing Company Used The financial section of this annual report includes a digest of information including consolidated financial statements in the Company’s Securities Report for the 180th period, audited by KPMG AZSA LLC and presented in a somewhat modified format. We have presented this information in such a way as to ensure that there is no discrepancy with the data presented in the annual securities report. However, the annual report itself has not been audited by KPMG AZSA LLC. Definition “Fiscal 2018” refers to the fiscal year ended 31st March 2018. Other fiscal years are referred to in a corresponding manner in this annual report. Figures are basically rounded off. Sums expressed in units of ¥100 million are rounded to the nearest ¥100 million. 1 Hankyu Hanshin Holdings Annual Report 2018 Contents Page Profile 1 Group Management Philosophy 1 History of the Hankyu Hanshin Holdings Group 3 At a Glance 5 Service Area 7 Financial Highlights, Non-Financial Highlights 11 １ Strategy for Enhancement of Corporate Value 13 Message from Chairman 13 Message from President 15 Summary of Long-Term Management Vision for 2025 and Medium-Term Management Plan 21 Four Strategies for Medium-Term Management Plan 23 Value Creation Process of Hankyu Hanshin Holdings 29 What we try to achieve 2 Enhancing Our Corporate Value 31 Mission By delivering“Safety and Comfort” and“Dreams and Excitement,” Urban Transportation 31 we create satisfaction among our customers and contribute to society. Real Estate 33 Entertainment and Communications 35 Travel 37 International Transportation 39 Hotels 41 3 The Basis of Enhanced Corporate Value 43 What is important to us Directors and Audit & Supervisory Board Members 43 Values An Interview with an External Director 45 Management Organization 47 Customers First Safety Initiatives in the Railway Business 53 Social Contribution Initiatives 57 Everything we do is for the customer. That’s where it all starts. Environmental Initiatives 60 Health Management and Initiatives to Promote Women 62 Financial Section and Corporate Data 64 Sincerity Consolidated Six-Year Summary 65 Gain customers’ confidence Consolidated Financial Review 66 Business Risks by always being sincere. 70 Consolidated Balance Sheets 71 Consolidated Statements of Income / Consolidated Statements of Comprehensive Income 73 Foresight & Creativity Consolidated Statements of Changes in Net Assets 74 Consolidated Statements of Cash Flows 76 With our pioneer spirit and flexible thinking, Notes to the Consolidated Financial Statements 77 List of Major Domestic Rental and Sales Properties we create a new value. 100 List of Overseas Sales Properties 101 Major Group Companies 102 Investor Information 103 Respect for People Definition of the areas served by the Hankyu and Hanshin lines: Below are lists of areas with Hankyu Corporation and Hanshin Electric Railway stations (including tier 2 railway operators). Everyone is absolutely Osaka Prefecture: Osaka City (Fukushima, Konohana, Nishi, Naniwa, Nishi-Yodogawa, Higashi-Yodogawa, Yodogawa, Kita, and Chuo, out of a total of 24 wards); and Toyonaka, Ikeda, Suita, Takatsuki, Ibaraki, Minoh, and Settsu cities and Shimamoto town invaluable to the Group. Hyogo Prefecture: Kobe City (Higashi-Nada, Nada, Hyogo, Nagata, and Chuo, out of a total of 9 wards); and Amagasaki, Nishinomiya, Ashiya, Itami, Takarazuka and Kawanishi cities Kyoto Prefecture: Kyoto City (Nakagyo, Shimogyo, Ukyo, and Nishikyo, out of a total of 11 wards); and Muko and Nagaokakyo cities and Oyamazaki town Forward-Looking Statements The reader is advised that this annual report contains forward-looking statements regarding the future plans, strategies, and earnings performance of Hankyu Hanshin Holdings, Inc., which are not statements of historical fact but constitute estimates or projections based on facts known to the Company’s management as of the time of writing. Actual results may therefore differ substantially from such statements. About the Compilation of this Annual Report and the Auditing Company Used The financial section of this annual report includes a digest of information including consolidated financial statements in the Company’s Securities Report for the 180th period, audited by KPMG AZSA LLC and presented in a somewhat modified format. We have presented this information in such a way as to ensure that there is no discrepancy with the data presented in the annual securities report. However, the annual report itself has not been audited by KPMG AZSA LLC. Definition “Fiscal 2018” refers to the fiscal year ended 31st March 2018. Other fiscal years are referred to in a corresponding manner in this annual report. Figures are basically rounded off. Sums expressed in units of ¥100 million are rounded to the nearest ¥100 million. Hankyu Hanshin Holdings Annual Report 2018 2 Profile Urban Transportation History of the Hankyu Hanshin Holdings Group Real Estate Entertainment and Communications By suggesting an innovative lifestyle to the people, mainly in the Kansai area, Travel we have created prosperous communities and steadily expanded our business. International Transportation Hotels 1924 Completion of Takarazuka Grand Theater Sep 2012 1913 Nov 2008 Completion of Umeda Formation of Takarazuka Opening of Hankyu Nishinomiya Gardens Hankyu Building Girls’ Revue (currently (Full opening of Umeda Takarazuka Revue Main Store of Hankyu Company) Department Store in 1929 November 2012) 1910 Opening of Umeda 1962 1969 Start of sales of Ikeda Hankyu Building Muromachi (Beginning of operations of Hankyu Department Completion of New Opening of Hankyu Residential Land Plots Store, Asia’s first railway terminal department store) Hankyu Building Sanbangai 2014 Takarazuka Revue marks 100th anniversary since its first performance in 1914 1926 1938 Opening of Opening of Dai-ichi Hotel 1964 Takarazuka (currently Dai-ichi Hotel Tokyo) Opening of Hotel new Hotel Hankyu Osaka May 2010 Opening of Umeda Hankyu Building Office Tower 1948 1960 Launch of airline agency Hankyu Express business as Hankyu International Co., Ltd. Hankyu Corporation’s agency (currently Hankyu Travel department Japan’s first International Co., Ltd.) was agency agreement established independently ©Takarazuka Revue
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