9006
Keikyu Corporation
京浜急行電鉄株式会社
Land Transportation
Keikyu Corporation engages in the railway transportation business in Japan. The company operates through Transportation, Real Estate Business, Leisure and Service Business, Logistic Business, and Other segments. It provides railway, taxi, and shared/chartered bus transportation services. The company also engages in the development of residential land; construction, sale, relocation support, and renovation of detached houses and condominiums; development and sale of commercial, office, rental buildings, and parking lots; renovation coordination business; real estate leasing; and provision of brokerage, funding, and consulting services. In addition, it operates leisure facilities, such as hot spring, yacht harbors, boat racing, and golf courses; provides advertising agency and travel services; and manages hotels, inns, and restaurants, and business hotels; and engages in marina, retail, restaurant, construction, and rental business. Further, the company operates and manages department stores, shopping centers, food supermarkets, and convenience and drug stores; civil engineering and construction work; repair of railway vehicles; renewal and modification work; maintenance of buses, trucks, and passenger cars; painting, cleaning, and repair of transportation equipment; and management of condominium. Additionally, it engages in the living support, flower arrangement, nursery school management, life and non-life insurance agency, electrical, telecommunications, plumbing, and funeral businesses; operates driving school; and provides station cleaning, bicycle parking lot management, business card creation, futon drying, reception, data entry, accounting, and HR services. The company was formerly known as Keihin Electric Express Railway Co., Ltd. and changed its name to Keikyu Corporation in October 2010. Keikyu Corporation was founded in 1898 and is headquartered in Yokohama, Japan.
Price
¥1,509
Market Cap
¥415.5B
Ent. Value
¥859.6B
Net Debt
−¥444.1B
Shares Out.
275.3M
P / E
14.8×
EV / EBIT
25.6×
P / Book
1.04×
P / NCAV
N/M
Div. Yield
1.52%
Financials
| Metric |
FY 2025
TDnet |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | ¥1,128.7B | ¥1,039.7B | ¥1,086.9B | ¥935.4B | ¥912.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Assets | ¥197.6B | ¥191.5B | ¥242.2B | ¥134.7B | ¥128.0B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash & Deposits | ¥67.2B | ¥74.5B | ¥149.2B | ¥57.1B | ¥61.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Trade Receivables | — | ¥19.7B | ¥16.0B | ¥14.2B | ¥12.3B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Assets | ¥931.1B | ¥848.2B | ¥844.7B | ¥800.7B | ¥784.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PP&E | ¥730.0B | ¥675.4B | ¥680.0B | ¥644.8B | ¥631.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets | — | ¥9.5B | ¥8.2B | ¥8.3B | ¥7.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investment Securities | ¥132.7B | ¥114.1B | ¥103.1B | ¥84.6B | ¥85.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Assets | — | ¥6.5B | ¥7.1B | ¥6.5B | ¥6.3B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Liabilities | ¥738.3B | ¥667.1B | ¥729.2B | ¥662.0B | ¥655.5B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Liabilities | ¥223.6B | ¥220.9B | ¥259.5B | ¥222.8B | ¥201.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounts Payable | — | ¥39.6B | ¥39.2B | ¥27.6B | ¥24.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ST Debt | ¥119.2B | ¥120.3B | ¥133.3B | ¥122.7B | ¥123.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Taxes Payable | — | ¥1.5B | ¥36.1B | ¥3.8B | ¥6.1B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Liabilities | ¥514.7B | ¥446.2B | ¥469.7B | ¥439.2B | ¥454.1B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total LT Borrowings | ¥392.1B | ¥354.0B | ¥354.1B | ¥334.7B | ¥355.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pension Obligations | — | ¥10.8B | ¥11.5B | ¥11.3B | ¥11.3B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Liab. | — | ¥7.6B | ¥5.0B | ¥5.0B | ¥3.6B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Equity | ¥390.4B | ¥372.6B | ¥357.7B | ¥273.5B | ¥256.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Stock | — | ¥43.7B | ¥43.7B | ¥43.7B | ¥43.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Surplus | — | ¥44.2B | ¥44.2B | ¥44.2B | ¥44.2B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retained Earnings | ¥281.6B | ¥265.0B | ¥245.3B | ¥165.2B | ¥152.1B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Treasury Stock | — | ¥-1.7B | ¥-809M | ¥-821M | ¥-827M | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| AOCI | — | ¥20.4B | ¥22.7B | ¥18.8B | ¥15.5B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity (owners) | ¥358.1B | ¥351.1B | ¥332.4B | ¥252.2B | ¥239.2B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minority Interests | — | ¥1.0B | ¥2.6B | ¥2.4B | ¥2.3B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Interest-Bearing Debt ⓘ | ¥511.4B | ¥474.3B | ¥487.4B | ¥457.4B | ¥479.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Cash ⓘ | ¥-444.1B | ¥-399.8B | ¥-338.1B | ¥-400.3B | ¥-418.3B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV ⓘ | ¥-540.7B | ¥-475.6B | ¥-487.1B | ¥-527.2B | ¥-527.5B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV/Share | — | ¥-1,727 | ¥-1,769 | ¥-1,915 | ¥-1,916 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| BV/Share | — | ¥1,275 | ¥1,207 | ¥916 | ¥869 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Metric |
FY 2025
TDnet |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| Operating CF | ¥47.9B | ¥14.8B | ¥66.2B | ¥24.8B | ¥58.2B |
| Interest Paid | — | ¥-4.1B | ¥-3.7B | ¥-3.7B | ¥-4.0B |
| Interest Received | — | ¥879M | ¥700M | ¥663M | ¥687M |
| D&A | ¥29.3B | ¥28.5B | ¥28.2B | ¥28.3B | ¥29.6B |
| Investing CF | ¥-68.7B | ¥-69.2B | ¥29.7B | ¥-24.1B | ¥-26.0B |
| CapEx | ¥86.8B | ¥75.8B | ¥70.5B | ¥53.2B | ¥39.1B |
| Purchase Investments | — | ¥-12.5B | ¥-17.4B | ¥-8.1B | ¥-17.9B |
| Proceeds from Invest. | — | — | — | — | ¥4.5B |
| Financing CF | ¥13.9B | ¥-20.9B | ¥-3.8B | ¥-5.0B | ¥-28.4B |
| Dividends Paid | — | ¥-4.7B | ¥-3.6B | ¥-2.8B | ¥-2.8B |
| Share Buybacks | — | ¥-1.3B | — | — | — |
| LT Debt Repaid | — | ¥-38.0B | ¥-29.1B | ¥-30.2B | ¥-30.7B |
| Free Cash Flow | ¥-38.9B | ¥-60.9B | ¥-4.3B | ¥-28.5B | ¥19.1B |
| Net Change in Cash | — | ¥-75.1B | ¥92.1B | ¥-4.3B | ¥3.8B |
| Metric |
FY 2025
TDnet |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| ROE | 7.2% | 6.7% | 26.7% | 6.0% | 5.0% |
| ROA | 2.5% | 2.3% | 8.3% | 1.7% | 1.4% |
| EPS | ¥101.90 | ¥88.40 | ¥304.23 | ¥57.46 | ¥45.52 |
| DPS | ¥23.00 | ¥26.00 | ¥15.00 | ¥11.00 | ¥10.00 |
| BPS | ¥1,447.23 | ¥1,353.53 | ¥1,289.94 | ¥984.76 | ¥924.97 |
| FCF/Share | — | ¥-221 | ¥-16 | ¥-103 | ¥70 |
| NCAV/Share | — | ¥-1,727 | ¥-1,769 | ¥-1,915 | ¥-1,916 |
| Payout Ratio | 22.6% | 29.4% | 4.9% | 19.1% | 22.0% |
Event Timeline
S Shareholder
A Capital Signal
Large Shareholder Reports 10
Capital Allocation Signals 1
| Date | Type | Amount | Summary | |
|---|---|---|---|---|
|
2026-05-11
15:30
|
Buyback | ¥30.0B 9.3% | Keikyu Electric Railway (9006) announced a share buyback program authorized by its board on May 11, 2026, to acquire up … | |
|
Summary
Keikyu Electric Railway (9006) announced a share buyback program authorized by its board on May 11, 2026, to acquire up to 25 million shares (9.29% of outstanding shares) for a maximum of ¥30 billion through May 12, 2026 to March 31, 2027. The repurchased shares will be used for M&A activities, employee stock incentive programs, and partial cancellation to enhance shareholder returns and capital efficiency under the company's 20th medium-term business plan.
Deadline: 2027-03-31
% of Shares: 9.3%
Shares: 25,000,000
Source (JP)
第20次総合経営計画における株主還元方針に基づき,株主還元の充実および資本効率の向上を図るため,今後の投資計画および財政状態,資本構成等を総合的に勘案して,自己株式の取得を実施いたします。
自己株式取得に係る事項の決定に関するお知らせ
TDnet PDF
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| # | Shareholder | Shares (thou.) | % of Total |
|---|---|---|---|
| 1 |
Japan Master Trust Bank
日本マスタートラスト信託銀行株式会社(信託口)
|
31,565 | 11.46% |
| 2 | 株式会社フォルティス | 16,503 | 5.99% |
| 3 |
Japan Custody Bank
株式会社日本カストディ銀行(信託口)
|
10,325 | 3.75% |
| 4 |
The Bank of Yokohama
株式会社横浜銀行
|
9,358 | 3.40% |
| 5 |
Nippon Life Insurance
日本生命保険相互会社
|
9,226 | 3.35% |
| 6 |
Meiji Yasuda Life Insurance
明治安田生命保険相互会社
|
5,700 | 2.07% |
| 7 |
Mizuho Bank
株式会社みずほ銀行
|
5,466 | 1.98% |
| 8 |
Custody Bank of Japan, Ltd. (Trust Account)
株式会社日本カストディ銀行(三井住友信託銀行退職給付信託口)
|
5,120 | 1.86% |
| 9 | 西武鉄道株式会社 | 4,383 | 1.59% |
| 10 |
Custody Bank of Japan, Ltd. (Trust Account)
株式会社日本カストディ銀行退職給付信託みずほ信託銀行口
|
4,008 | 1.46% |
as of 2025-03-31
Source: EDINET ↗
Ownership by year — hover bars for detail
Domestic Nominees
18.5%
-0.6% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
0.0%
-1.2% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
18.4%
+5.1% vs 2024
Named entities with disclosed investment intent
Bar = % of shares outstanding · top-10 covers 36.9% · grey = other shareholders · 2025
| Shareholder | Trend | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Japan Master Trust Bank 日本マスタートラスト信託銀行 | 10.80% | 11.79% | 11.46% -0.33% | |
| Japan Custody Bank 日本カストディ銀行 | 7.51% | 7.33% | 7.07% -0.26% | |
| 式会社フォルティス NEW ENTRY | — | — | — | 5.99% NEW |
| The Bank of Yokohama 式会社横浜銀行 | 2.92% | 2.92% | 3.40% +0.48% | |
| Nippon Life Insurance 日本生命保険 | 3.66% | 3.66% | 3.35% -0.31% | |
| Meiji Yasuda Life Insurance 明治安田生命保険 | 1.82% | 2.07% | 2.07% | |
| Mizuho Bank みずほ銀行 | 3.02% | 3.02% | 1.98% -1.04% | |
| 西武鉄道 | 1.77% | 1.59% | 1.59% | |
| JP Morgan last seen 2024 | Exited Top 10 | 1.23% | 1.25% | — |
| Concentration (HHI) ⓘ | 212 | 232 | 251 |
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥34,737M
+27% since 2023
Holdings
22
5 exited
Trend
1 unwinding
vs 2023
| Held Company | FY2025 ¥34,737M total | FY2023 ¥27,317M total | |||
|---|---|---|---|---|---|
| Book Val ¥M | Shares | Book Val ¥M | Shares | ||
|
SEIBU HOLDINGS INC.
㈱西武ホールディングス
|
21,975 |
-7.0%
↓
6,655,200
|
9,723 | 7,155,200 | M |
|
Keisei Electric Railway Co.
京成電鉄㈱
|
5,691 |
+200.0%
↑
4,224,000
|
5,737 | 1,408,000 | M |
|
Japan Airport Terminal Co.,Ltd.
日本空港ビルデング㈱
|
2,910 |
707,800
|
4,671 | 707,800 | M |
|
East Japan Railway Company
東日本旅客鉄道㈱
|
1,950 |
+200.0%
↑
660,600
|
1,615 | 220,200 | M |
| ANA ホールディングス㈱ | 893 |
323,700
|
930 | 323,700 | M |
|
Central Japan Railway Company
東海旅客鉄道㈱
|
686 |
+400.0%
↑
240,500
|
760 | 48,100 | M |
|
Tokyo Kisen Co.,Ltd.
東京汽船㈱
|
380 |
500,000
|
249 | 500,000 | M |
|
Saikaya Department Store Co.,Ltd.
㈱さいか屋
|
182 |
463,420
|
153 | 463,420 | M |
| ㈱ホテル、 ニューグランド | 70 |
12,100
|
47 | 12,100 | |
| ㈱みずほ フィナンシャルグループ | — | — | M | ||
|
Sotetsu Holdings,Inc.
相鉄ホールディングス㈱
|
— | — | M | ||
|
TOBU RAILWAY CO.,LTD.
東武鉄道㈱
|
— | — | M | ||
|
DAIWA HOUSE INDUSTRY CO., LTD.
大和ハウス工業㈱
|
— | — | |||
|
taisei corporation
大成建設㈱
|
— | — | M | ||
| ㈱三菱UFJフィナン シャル・グループ | — | — | M | ||
| ㈱しずおか フィナンシャルグループ | — | — | M | ||
| ㈱八十二銀行 | — | — | M | ||
| 第一生命 ホールディングス㈱ | — | — | M | ||
|
OYO Corporation
応用地質㈱
|
— | — | |||
|
Kawasaki Heavy Industries,Ltd.
川崎重工業㈱
|
— | — | |||
|
The Chiba Kogyo Bank, Ltd.
㈱千葉興業銀行
|
— | — | |||
|
Suruga Bank Ltd.
スルガ銀行㈱
|
— | — | M | ||
|
AIRPORT FACILITIES Co.,LTD.
空港施設㈱
|
— |
−100%
Exit
—
|
301 | 549,000 | M |
|
Keio Corporation
京王電鉄㈱
|
— |
−100%
Exit
—
|
1,929 | 415,300 | M |
| コムシス ホールディングス㈱ | — |
−100%
Exit
—
|
1,113 | 455,600 | M |
| ㈱コンコルディア・ フィナンシャルグループ | — |
−100%
Exit
—
|
58 | 119,840 | M |
|
Toyo Electric Manufacturing Co.
東洋電機製造㈱
|
— |
−100%
Exit
—
|
31 | 34,500 | M |
| Portfolio total | 34,737 | 27,317 | |||
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding