Hiroshima Electric Railway Co.,Ltd.

広島電鉄株式会社

Land Transportation

Hiroshima Electric Railway Co.,Ltd. engages in the bus and rail businesses in Japan. The company is involved in railway and track businesses; operates local, express, and airport shuttle buses; and transportation advertising activities. It also engages in the development and sale of condominiums and residential land; rental of office buildings, stores, parking lots, and others; and brokerage/land recruitment services. The company was incorporated in 1942 and is headquartered in Hiroshima, Japan.

← Companies

Price

¥619

Market Cap

¥18.8B

Ent. Value

¥41.5B

Net Debt

−¥22.7B

Shares Out.

30.4M

P / E

13.6×

EV / EBIT

1.2×

⚠ TSE Capital Mandate

P / Book

0.45×

P / NCAV

N/M

Div. Yield

1.29%

Financials

Metric	FY 2025 TDnet	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Net Sales	¥35.7B	—	—	—	—
SG&A	—	¥6.6B	¥6.1B	¥5.8B	¥5.9B
Operating Income	¥35.7B	¥-1.4B	¥-1.1B	¥-3.2B	¥-4.5B
Non-Operating Income	—	¥460M	¥367M	¥444M	¥345M
Dividend Income	—	¥261M	¥189M	¥189M	¥116M
Interest Income	—	¥3M	¥3M	¥3M	¥3M
Non-Operating Expenses	—	¥284M	¥249M	¥258M	¥268M
Interest Expense	—	¥259M	¥228M	¥224M	¥211M
Ordinary Income	¥35.7B	¥-1.2B	¥-970M	¥-3.0B	¥-4.4B
Pre-tax Income	—	¥1.1B	¥887M	¥1.1B	¥-1.2B
Income Taxes	—	¥-352M	¥126M	¥173M	¥-64M
Current Tax	—	¥114M	¥129M	¥97M	¥29M
Deferred Tax	—	¥-467M	¥-2M	¥76M	¥-94M
Net Income (owners)	¥35.7B	¥1.4B	¥656M	¥943M	¥-1.1B
Minority Interest	—	¥99M	¥104M	¥-16M	¥-112M
Comprehensive Income	—	¥1.3B	¥2.6B	¥519M	¥-1.2B
EBITDA	—	¥1.3B	¥1.4B	¥-640M	¥-1.6B
EPS	—	¥45.42	¥21.61	¥31.07	¥-34.70
Shares Outstanding	—	30.4M	30.4M	30.4M	30.4M
Shares Issued (total)	—	30.4M	30.4M	30.4M	30.4M
Treasury Shares	—	0.1M	0.1M	0.1M	0.1M

Metric	FY 2025 TDnet	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Total Assets	—	¥104.1B	¥98.4B	¥94.1B	¥92.5B
Current Assets	—	¥16.4B	¥15.8B	¥16.5B	¥12.9B
Cash & Deposits	—	¥4.0B	¥4.0B	¥4.4B	¥5.3B
Trade Receivables	—	¥3.5B	¥3.1B	¥5.0B	¥2.5B
Non-Current Assets	—	¥87.6B	¥82.6B	¥77.7B	¥79.6B
PP&E	—	¥74.2B	¥70.3B	¥68.1B	¥70.4B
Intangible Assets	—	¥1.8B	¥1.4B	¥961M	¥557M
Investment Securities	—	¥9.3B	¥8.6B	¥6.7B	¥5.1B
Deferred Tax Assets	—	¥345M	¥238M	¥224M	¥245M
Total Liabilities	—	¥61.3B	¥56.8B	¥54.9B	¥53.8B
Current Liabilities	—	¥31.9B	¥27.4B	¥25.7B	¥23.5B
Accounts Payable	—	¥1.3B	¥1.2B	¥1.2B	¥951M
ST Debt	—	¥14.0B	¥12.6B	¥13.7B	¥12.0B
Taxes Payable	—	¥137M	¥166M	¥128M	¥109M
Non-Current Liabilities	—	¥29.4B	¥29.4B	¥29.2B	¥30.4B
Total LT Borrowings	—	¥12.7B	¥13.1B	¥14.0B	¥14.6B
Pension Obligations	—	¥834M	¥873M	¥908M	¥1.3B
Deferred Tax Liab.	—	¥1.8B	¥2.0B	¥1.2B	¥1.2B
Total Equity	—	¥42.8B	¥41.6B	¥39.2B	¥38.7B
Capital Stock	—	¥2.3B	¥2.3B	¥2.3B	¥2.3B
Capital Surplus	—	¥2.0B	¥2.0B	¥2.0B	¥2.0B
Retained Earnings	—	¥12.6B	¥11.2B	¥10.7B	¥9.6B
Treasury Stock	—	¥-55M	¥-60M	¥-60M	¥-65M
AOCI	—	¥24.9B	¥25.2B	¥23.4B	¥23.9B
Equity (owners)	—	¥16.9B	¥15.5B	¥15.0B	¥13.9B
Minority Interests	—	¥1.0B	¥958M	¥860M	¥881M

Total Interest-Bearing Debt ⓘ	—	¥26.8B	¥25.7B	¥27.7B	¥26.6B
Net Cash ⓘ	—	¥-22.7B	¥-21.7B	¥-23.2B	¥-21.3B
NCAV ⓘ	—	¥-44.9B	¥-40.9B	¥-38.4B	¥-40.9B
NCAV/Share	—	¥-1,477	¥-1,348	¥-1,265	¥-1,346
BV/Share	—	¥555	¥509	¥493	¥458

Metric	FY 2025 TDnet	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Operating CF	—	¥5.1B	¥5.5B	¥449M	¥-1.1B
Interest Paid	—	¥-261M	¥-228M	¥-226M	¥-214M
Interest Received	—	¥272M	¥200M	¥198M	¥126M
D&A	—	¥2.7B	¥2.5B	¥2.6B	¥2.9B
Investing CF	—	¥-5.6B	¥-3.6B	¥-2.1B	¥-3.6B
CapEx	—	¥7.3B	¥3.9B	¥4.4B	¥3.8B
Purchase Investments	—	—	¥0M	—	¥-500M
Proceeds from Invest.	—	¥54M	—	¥-1M	¥1M
Financing CF	—	¥604M	¥-2.4B	¥894M	¥4.7B
Dividends Paid	—	¥-182M	¥-182M	—	—
Share Buybacks	—	¥0M	¥0M	¥0M	¥0M
LT Debt Repaid	—	¥-7.2B	¥-7.8B	¥-7.4B	¥-5.2B
Free Cash Flow	—	¥-2.3B	¥1.6B	¥-3.9B	¥-4.9B
Net Change in Cash	—	¥113M	¥-481M	¥-806M	¥-16M

Metric	FY 2025 TDnet	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
ROE	—	3.3%	1.7%	2.5%	-2.8%
ROA	—	1.4%	0.7%	1.0%	-1.1%
EPS	—	¥45.42	¥21.61	¥31.07	¥-34.70
DPS	—	¥8.00	¥6.00	¥6.00	—
BPS	—	¥1,373.44	¥1,338.41	¥1,263.07	¥1,245.34
FCF/Share	—	¥-75	¥53	¥-130	¥-160
NCAV/Share	—	¥-1,477	¥-1,348	¥-1,265	¥-1,346
Payout Ratio	—	17.6%	27.8%	19.3%	—

No filings or capital allocation signals recorded for this company.

#	Shareholder	Shares (thou.)	% of Total
1	広島日野自動車株式会社	11,708	3.85%
2	株式会社広島銀行	10,440	3.44%
3	株式会社三菱UFJ銀行	8,775	2.89%
4	株式会社鴻治組	7,016	2.31%
5	広島ガス株式会社	6,180	2.03%
6	みずほ信託銀行株式会社退職給付信託五洋建設口	4,663	1.53%
7	野村信託銀行株式会社退職給付信託・三菱ＵＦＪ信託銀行口	3,750	1.23%
8	出光興産株式会社	3,750	1.23%
9	いすゞ自動車株式会社	3,000	0.99%
10	三井住友海上火災保険株式会社	2,762	0.91%

as of 2025-03-31 Source: EDINET ↗

Ownership by year — hover bars for detail

Domestic Nominees

1.5%

-1.0% vs 2024

Trust bank custodians — GPIF, pensions, investment trusts

Foreign Custodians

0.0%

+0.0% vs 2024

Sub-custodians for foreign asset managers

Direct / Strategic

18.9%

-0.9% vs 2024

Named entities with disclosed investment intent

Shareholder	2023	2024	2025
広島日野自動車	3.85%	3.85%	3.85%
式会社広島銀行	3.44%	3.44%	3.44%
三菱UFJ銀行	2.89%	2.89%	2.89%
式会社鴻治組	2.31%	2.31%	2.31%
広島ガス	2.03%	2.03%	2.03%
みずほ信託銀行	2.49%	2.49%	1.53% -0.96%
出光興産	2.47%	1.98%	1.23% -0.75%
野村信託銀行株式会社退職給付信託・三菱ＵＦＪ信託銀行口	1.23%	1.23%	1.23%
いすゞ自動車	0.99%	0.99%	0.99%
三井住友海上火災保険	1.34%	1.07%	0.91% -0.16%
Concentration (HHI) ⓘ	61	58	52

3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved

Portfolio Book Value ¥7,255M +65% since 2023

Holdings 15 +1 new 1 exited

Trend 1 unwinding vs 2023

Held Company	FY2025 ¥7,255M total		FY2023 ¥4,395M total
	Book Val ¥M	Shares	Book Val ¥M	Shares
Hirogin Holdings, Inc. 株式会社ひろぎんホールディングス	2,076	1,714,382	1,073	1,714,382
Mitsubishi UFJ Financial Group, Inc. 株式会社三菱ＵＦＪフィナンシャル・グループ	2,010	999,740	847	999,740
KDDI CORPORATION ＫＤＤＩ株式会社	1,061	225,000	920	225,000
Hiroshima Gas Co. 広島ガス株式会社	636	1,860,000	658	1,860,000	M
Nomura Holdings Inc. 野村ホールディングス株式会社	411	-12.1% ↓ 453,400	263	516,000
Yamaguchi Finacial Group,Inc. 株式会社山口フィナンシャルグループ	250	142,608	115	142,608
Sumitomo Mitsui Trust Group, Inc. 三井住友トラストグループ株式会社	187	NEW New 50,490	—
TOYO SECURITIES CO., LTD. 東洋証券株式会社	139	274,000	86	274,000
Iyogin Holdings,Inc. 株式会社いよぎんホールディングス	112	64,094	48	64,094
Daiwa Securities Group Inc. 株式会社大和証券グループ本社	97	98,000	60	98,000
The Chugoku Electric Power Company, Incorporated 中国電力株式会社	86	100,000	67	100,000	M
ANA HOLDINGSINC. ＡＮＡホールディングス株式会社	74	26,853	77	26,853
Chugin Financial Group, Inc. 株式会社ちゅうぎんフィナンシャルグループ	46	27,600	24	27,600
Sompo Holdings, Inc. ＳＯＭＰＯホールディングス株式会社	43	+200.0% ↑ 9,516	16	3,172
Japan Airlines Co., Ltd. 日本航空株式会社	27	10,600	27	10,600
三井住友トラスト・ホールディングス株式会社	—	−100% Exit —	114	25,245
Portfolio total	7,255		4,395

Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding