Slides
Page 1
Stock code : 9007 思う 誰か を 今日 も odakyu 小田急電鉄 株式会社 FY3 / 2027 1Q Results August 7 , 2026
Page 2
Copyright (C) 2026 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. 2 Executive Summary FY3/2027 1Q Results FY3/2027 Forecasts Unchanged from the May forecast (Page 3-) Millions of yen FY3/2026 1Q Results FY3/2027 1Q Results Change Operating revenue 98,264 101,735 +3,471 (+3.5%) Operating profit 15,279 16,340 +1,060 (+6.9%) Profit* 13,936 11,622 -2,313 (-16.6%) Millions of yen FY3/2026 Results FY3/2027 Forecasts Change Operating revenue 418,732 461,300 +42,567 (+10.2%) Operating profit 52,659 54,000 +1,340 (+2.5%) Profit* 37,368 38,300 +931 (+2.5%) * Profit attributable to owners of parent YoY change Operating revenue: Operating revenue will increase, chiefly due to an increase in the number of passengers carried and the fare revisions in Transportation and the higher projected unit sales in Real Estate. Operating profit: Operating profit will increase mainly due to an increase in operating revenue in Real Estate, which will more than offset a decrease attributed mainly to an increase in expenses in Transportation and the suspension of Southern Tower’s accommodation operations in Life Services. Profit*: Profit will increase, chiefly reflecting the posting of extraordinary income (gain on the sale of cross-shareholdings), more than offsetting the absence of the non-operating income (gain on settlement of construction contracts) posted in theprevious fiscal year. YoY change Operating revenue: Operating revenue increased, mainly reflecting an increase in the number of passengers carried and fare revisions in Transportation and improved results at existing stores in Stores and Retail and in Restaurants. Operating profit: Operating profit increased. Operating revenue, mainly in Transportation, contributed to this increase. Profit*: Profit decreased, chiefly due to the absence of the extraordinary income (gain on the sale of cross-shareholdings) posted in the previous fiscal year. (Page 13-)
Page 3
Copyright (C) 2026 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. Consolidated Statements of Income Millions of yen FY3/2026 1Q Results FY3/2027 1Q Results Change Changes in non-operating and extraordinary items and major factors for the changes Operating revenue 98,264 101,735 +3,471 ■ Non-operating income Share of profit of entities accounted for using equity method 709 (-509) ■ Extraordinary income Gain on sale of non-current assets 618 (+570) Gain on sale of investment securities 43 (-3,742) ■ Extraordinary losses Redevelopment related expenses 341 (+341) (+3.5%) Operating profit 15,279 16,340 +1,060 (+6.9%) Non-operating income 2,752 2,124 -628 Non-operating expenses 1,992 2,249 +257 Ordinary profit 16,039 16,214 +175 (+1.1%) Extraordinary income 4,084 1,214 -2,870 Extraordinary losses 708 945 +236 Profit attributable to owners of parent 13,936 11,622 -2,313 (-16.6%) YoY change: Operating revenue increased 3.4 billion yen, mainly reflecting an increase in the number of passengers carried and fare revisions in Transportation and improved results at existing stores and new store openings in Stores and Retail and in Restaurants. Operating profit increased 1.0 billion yen, but profit* fell 2.3 billion yen, mainly due to the absence of the gain on sale of investment securities (cross-shareholdings) posted in the previous fiscal year. * Profit attributable to owners of parent 3 FY3/2027 1Q Results
Page 4
Copyright (C) 2026 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. Details of Consolidated Operating Revenue and Consolidated Operating Profit (YoY Change) Transportation: Operating revenue and operating profit increased by 1.9 billion yen and 0.9 billion yen, respectively, mainly due to an increasein the number of passengers carried in the Company's railway business and in the Hakone area and fare revisions in Buses and in the Hakone area. Real Estate: Operating revenue increased 0.3 billion yen, mainly due to an increase in rental income from commercial facilities in Leasingand an increase in the average order value in Building Management and Maintenance, but operating profit decreased 0.1 billion yen, partly reflecting anincrease in expenses in Leasing. Life Services: Operating revenue rose 1.3 billion yen and operating profit increased 0.2 billion yen, primarily due to improved results at existing stores and new store openings in Stores and Retail and Restaurants. Millions of yen FY3/2026 1Q Results FY3/2027 1Q Results Change Operating revenue 98,264 101,735 +3,471 Transportation 45,279 47,199 +1,920 Real Estate 19,045 19,355 +310 Life Services 37,746 39,102 +1,356 Adjustments -3,806 -3,921 -115 Operating profit 15,279 16,340 +1,060 Operating profit margin 15.5% 16.1% +0.6p Transportation 10,498 11,455 +957 23.2% 24.3% +1.1p Real Estate 3,371 3,235 -136 17.7% 16.7% -1.0p Life Services 1,406 1,643 +236 3.7% 4.2% +0.5p Adjustments 3 6 +2 FY3/2027 1Q Results 4 15,279 16,340+957 -136 +236 +2 FY3/2026 1Q Results Transportation Real Estate Life Services Adjustments FY3/2027 1Q Results 98,264 +1,920 +310 +1,356 -115 101,735 FY3/2026 1Q Results Transportation Real Estate Life Services Adjustments FY3/2027 1Q Results Leasing: Increase in expenses Railways/Hakone area: Increase in number of passengers carried Buses/Hakone area: Fare revisions Stores and Restaurants: Improved results at existing stores and new store openings Leasing: Increase in rental revenue from commercial facilities Building management: Increase in average order value Operating profit (Millions of yen) Operating revenue (Millions of yen)
Page 5
Copyright (C) 2026 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. Millions of yen FY3/2026 Results FY3/2027 1Q Results Change and major factors Current assets 181,317 180,171 -1,145 Accounts receivable - trade -3,121 Accounts receivable - other -7,385 Land and buildings for sale +8,922 Non-current assets 1,212,204 1,218,367 +6,162 Investment securities +7,201 Total assets 1,393,521 1,398,538 +5,016 Current liabilities 330,612 325,352 -5,260 Accounts payable - other -16,824 Interest-bearing debt +13,280 Non-current liabilities 554,126 563,760 +9,634 Interest-bearing debt +6,668 Total liabilities 884,738 889,112 +4,374 Total net assets 508,783 509,425 +642 Retained earnings +1,194 Valuation difference on available-for-sale securities +5,284 Treasury shares -5,065 Total liabilities and net assets 1,393,521 1,398,538 +5,016 Equity ratio 36.4% 36.3% -0.1p Consolidated Balance SheetsFY3/2027 1Q Results Total assets: Total assets increased 5.0 billion yen from the end of the previous fiscal year to 1,398.5 billion yen, mainly because of an increase in investment securities after a rise in the market value of shares held by the Company. Liabilities: Liabilities increased 43.0 billion yen from the end of the previous fiscal year to 889.1 billion yen, mainly reflecting a rise in interest-bearing debt despite a decrease in accounts payable - other related to the Shinjuku West Gate Development Project. Net assets: Net assets increased 0.6 billion yen from the end of the previous fiscal year to 509.4 billion yen, despite a share buyback, which was more than offset by mainly an increase in valuation difference on available-for-sale securities. 5
Page 6
Copyright (C) 2026 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. Millions of yen FY3/2026 1Q Results FY3/2027 1Q Results Change and major factors Operating revenue 45,279 47,199 +1,920 Change +4.2% Railways 33,434 34,423 +988 (+) Increase in number of passengers carried (+1.2% in commuters and +2.2% in non-commuters in the Company's railway business) Buses 9,559 10,101 +541 (+) Fare revisions Others 2,284 2,674 +390 (+) Fare revisions (From October 2025 Hakone area) (+) Increase in number of passengers carried Operating profit 10,498 11,455 +957 Change +9.1% Operating profit margin 23.2% 24.3% +1.1p Railways 8,657 9,047 +389 25.9% 26.3% +0.4p Buses 1,129 1,323 +194 11.8% 13.1% +1.3p Others 711 1,084 +373 31.1% 40.5% +9.4p Segment Information (Transportation)FY3/2027 1Q Results 6
Page 7
Copyright (C) 2026 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. Hakone area only Millions of yen FY3/2026 1Q Results FY3/2027 1Q Results Change Tourism revenue 7,272 8,312 +1,039 (+14.3%) Inbound tourism only 2,187 2,487 +300 (+13.7%) Millions of yen FY3/2026 1Q Results FY3/2027 1Q Results Change Tourism revenue 19,377 21,541 +2,163 (+11.2%) Inbound tourism only 6,643 7,579 +935 (+14.1%) Thousands of people FY3/2026 1Q Results FY3/2027 1Q Results Change Total 185,028 187,962 +2,934 (+1.6%) Commuters 109,912 111,228 +1,316 (+1.2%) Work commuters 74,278 75,611 +1,333 (+1.8%) School commuters 35,634 35,617 -17 (-0.0%) Non- commuters 75,116 76,734 +1,618 (+2.2%) Millions of yen FY3/2026 1Q Results FY3/2027 1Q Results Change Total 30,549 31,259 +709 (+2.3%) Commuters 11,228 11,373 +144 (+1.3%) Work commuters 9,409 9,565 +156 (+1.7%) School commuters 1,819 1,807 -11 (-0.6%) Non-commuters 18,566 19,067 +501 (+2.7%) Miscellaneous revenues 754 818 +63 (+8.4%) Millions of yen FY3/2026 1Q Results FY3/2027 1Q Results Change Total 22,411 22,826 +414 (+1.8%) Personnel expenses 6,523 6,600 +77 (+1.2%) Repair expenses 1,131 1,293 +161 (+14.3%) Power costs 1,677 1,641 -35 (-2.1%) Property and equipment disposal expenses 102 149 +47 (+46.5%) Depreciation 5,592 5,783 +191 (+3.4%) Others 7,385 7,358 -27 (-0.4%) Number of passengers carried Revenue Operating expenses Tourism revenue (Including tax-free sales) Segment Information (Transportation): Major IndicatorsFY3/2027 1Q Results 7 * The calculation method was changed, and the FY3/2026 1Q results (inbound only) were modified accordingly. Tourism revenue (Included in values for Transportation, Real Estate, and Life Services) Odakyu Electric Railway
Page 8
Copyright (C) 2026 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. Millions of yen FY3/2026 1Q Results FY3/2027 1Q Results Change and major factors Operating revenue 19,045 19,355 +310 Change +1.6% Sales 4,803 4,862 +58 Leasing 11,176 11,272 +96 (+) Increase in rental revenue from commercial facilities Others 3,065 3,220 +154 (+) Rise in the average order value in Building Management and Maintenance Operating profit 3,371 3,235 -136 Change -4.0% Operating profit margin 17.7% 16.7% -1.0p Sales -387 -254 +133 － － － Leasing 3,794 3,462 -332 (-) Increase in survey and design costs, personnel expenses, etc.33.9% 30.7% -3.2p Others -34 27 +62 － 0.8% － Segment Information (Real Estate)FY3/2027 1Q Results 8
Page 9
Copyright (C) 2026 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. Segment Information (Real Estate): Major Indicators Sales Millions of yen FY3/2026 1Q Results FY3/2027 1Q Results Change Total 4,803 4,862 +58 (+1.2%) Investment and development* 125 499 +374 (+298.8%) Sales 2,500 2,114 -385 (-15.4%) Purchase and resale 709 650 -58 (-8.2%) Others 1,468 1,597 +128 (+8.7%) Sales: Number of units sold Residences/sections FY3/2026 1Q Results FY3/2027 1Q Results Change Total 32 28 -4 Land 2 － -2 Detached house 6 1 -5 Condominium 24 27 +3 Investment and development: Number of properties sold Number of properties FY3/2026 1Q Results FY3/2027 1Q Results Change Investment and development － － － Purchase and resale: Number of units sold <Major properties included in unit sales> Address WORLD TOWER RESIDENCE Minato-ku, Tokyo FY3/2027 1Q Results Leasing Millions of yen FY3/2026 1Q Results FY3/2027 1Q Results Change Total 11,176 11,272 +96 (+0.9%) Commercial facility 7,161 7,371 +209 (+2.9%) Office 2,122 2,136 +14 (+0.7%) Residence 1,036 1,072 +36 (+3.5%) Others 855 692 -163 (-19.1%) Residences/sections FY3/2026 1Q Results FY3/2027 1Q Results Change Purchase and resale 2 1 -1 9 <Major properties included in unit sales> Total units (Number of units owned by Odakyu) Beginning of deliveries LEAFIA Residence Hachioji Kitano 48 January 2025 Park Tower Mukogaoka-yuen 75 December 2025 LEAFIA Residence Sagamiono Style Suite 52 March 2026 * Revenue from the sale of investment properties, rental income and dividend income from SPCs are posted. Sales (Odakyu Electric Railway, Odakyu Real Estate) Breakdown of operating revenue
Page 10
Copyright (C) 2026 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. Millions of yen FY3/2026 1Q Results FY3/2027 1Q Results Change and major factors Operating revenue 37,746 39,102 +1,356 Change +3.6% Department Stores 5,313 5,398 +84 Stores and Retail 16,561 17,149 +588 (+) Improved results at existing stores and new store openings Hotels 3,593 3,799 +205 (+) On December 15, 2025 Opening of RETONA HAKONE (-) From May 7, 2025 Closure of Hakone Highland Hotel Restaurants 4,114 4,444 +329 (+) Improved results at existing stores and new store openings Others 8,162 8,310 +147 Operating profit 1,406 1,643 +236 Change +16.8%Operating profit margin 3.7% 4.2% +0.5p Department Stores 49 183 +134 0.9% 3.4% +2.5p Stores and Retail 374 429 +55 2.3% 2.5% +0.2p Hotels 746 729 -17 20.8% 19.2% -1.6p Restaurants 89 132 +42 2.2% 3.0% +0.8p Others 145 168 +22 1.8% 2.0% +0.2p Segment Information (Life Services)FY3/2027 1Q Results 10
Page 11
Copyright (C) 2026 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. (Reference) Average daily rate among hotels in Hakone area: +4.0%*2 (YoY change) *1 Opened on December 15, 2025 *2 Excluding RETONA HAKONE Area Hotel name FY3/2026 1Q Results FY3/2027 1Q Results Change Shinjuku Hotel Century Southern Tower 90.6% 91.8% +1.2p Hakone Hotel de Yama 20.9% 26.7% +5.8p Hatsuhana 41.7% 45.7% +4.0p HAKONE YUTOWA 64.5% 63.9% -0.6p RETONA HAKONE*1 － 0.2% － HOTEL CLAD 60.8% 60.3% -0.5p Area Hotel name FY3/2026 1Q Results FY3/2027 1Q Results Change Shinjuku Hotel Century Southern Tower 92.2% 93.0% +0.8p Hakone Hotel de Yama 84.5% 81.2% -3.3p Hatsuhana 70.7% 72.3% +1.6p HAKONE YUTOWA 79.9% 85.6% +5.7p RETONA HAKONE*1 － 60.6% － HOTEL CLAD 78.2% 82.7% +4.5p Segment Information (Life Services): Major Indicators Breakdown of operating revenue Odakyu Department Store: Sales FY3/2027 1Q Results Occupancy rate Percentage of foreign guests 11 Millions of yen FY3/2026 1Q Results FY3/2027 1Q Results Change Total 15,062 15,567 +504 (+3.4%) Shinjuku Store 6,664 7,109 +444 (+6.7%) Machida Store 7,036 7,090 +53 (+0.8%) Fujisawa Store 1,361 1,367 +6 (+0.5%) Millions of yen FY3/2026 1Q Results FY3/2027 1Q Results Change Total 16,561 17,149 +588 (+3.6%) Store division only 13,091 13,315 +224 (+1.7%) 7-Eleven only 3,424 3,794 +369 (+10.8%) Department Stores Stores and Retail Hotels
Page 12
Copyright (C) 2026 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. Details of Consolidated Operating Revenue and Consolidated Operating Profit (Compared to Forecast as of May) Transportation:Operating revenue was on par with the forecast, and operating profit increased 0.8 billion yen mainly due to decreases in repair expenses and personnel expenses. Real Estate: Operating revenue was on par with the forecast, and operating profit rose 0.6 billion yen due in part to a decrease in sales promotion expenses in Sales. Life Services: Operating revenue dropped 0.5 billion yen, chiefly reflecting a decline in operating revenue in Stores and Retail and in Hotels associated with bad weather, but operating profit was on par with the forecast. Millions of yen 1Q Forecasts as of May FY3/2027 1Q Results Change Operating revenue 102,400 101,735 -664 Transportation 47,200 47,199 -0 Real Estate 19,500 19,355 -144 Life Services 39,700 39,102 -597 Adjustments -4,000 -3,921 +78 Operating profit 14,800 16,340 +1,540 Operating profit margin 14.5% 16.1% +1.6p Transportation 10,600 11,455 +855 22.5% 24.3% +1.8p Real Estate 2,600 3,235 +635 13.3% 16.7% +3.4p Life Services 1,600 1,643 +43 4.0% 4.2% +0.2p Adjustments 0 6 +6 12 14,800 16,340 +855 +635 +43 +6 1Q Forecast as of May Transportation Real Estate Life Services Adjustments FY3/2027 1Q Results 102,400 -144 -597 +78 101,735 1Q Forecast as of May Transportation Real Estate Life Services Adjustments FY3/2027 1Q Results -0 Stores and Hotels Decrease in repair expenses and personnel expenses Sales: Decrease in sales promotion expenses Operating profit (Millions of yen) Operating revenue (Millions of yen) (Reference 1) FY3/2027 1Q Results
Page 13
Copyright (C) 2026 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. Major Assumptions in Each Segment (YoY Changes)FY3/2027 Forecasts Railways (Odakyu Electric Railway) Number of passengers carried: Commuters: +0.7%, Non-commuters: +1.0%, Total: +0.8% Revenue: Commuters: +0.8%, Non-commuters: +1.2%, Miscellaneous revenues: +8.8%, Total:+1.3% Buses/Hakone area Fare revisions (From October 1, 2025 Odakyu Bus and Hakone area, and from March 31, 2026 Enoshima Electric Railway Buses, etc.) Sales (Odakyu Electric Railway, Odakyu Real Estate) Sales: Projected unit sales: 431 units (+201 units) Major properties to be recorded: LEAFIA Tower Ebina Chronos Court (Approximately 70% of the 304 units in total) Investment and development: Number of properties projected to be sold 5（+3） Leasing (Odakyu SC Development) Commercial facility: Fixed rent +0.4% * About 90% of rental income is fixed Transportation Real Estate Life Services Stores and Retail (Odakyu Shoji) Sales at existing stores in Store division +3.3% Hotels (Hotel Century Southern Tower) From October 1, 2026, suspension of accommodation operations due to renovation work Operating revenue -¥2.4 bn 13 * The information announced in May 2026 has not been revised.
Page 14
Copyright (C) 2026 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. Capital investments 81,385 132,800 +51,414 Depreciation 44,352 46,700 +2,347 Interest-bearing debt 699,754 790,500 +90,745 Interest-bearing debt/EBITDA ratio (times) 7.2 7.9 +0.7p ROA*2 2.8% 2.7% -0.1p ROE*3 8.0% 8.0% － Consolidated Statements of Income: Major Indicators Operating revenue: Operating revenue will increase 42.5 billion yen, to 461.3 billion yen, mainly due to a higher number of passengers carried and fare revisions in Transportation, and higher projected unit sales in the sale and purchase and resale sides of Real Estate. Operating profit: Operating profit will rise 1.3 billion yen, to 54.0 billion yen, primarily due to increased operating revenue in Real Estate, despite lower profit reflecting higher expenses in Transportation and the suspension of accommodation operations at Southern Tower in Life Services. Profit*1: Although ordinary profit will fall due to the absence of gain on settlement of construction contracts, among other factors, profit will increase 0.9 billion yen, to 38.3 billion yen, chiefly owing to the posting of a gain on sale of investment securities (cross-shareholdings). *1 Profit attributable to owners of parent *2 Profit attributable to owners of parent / Total assets (average of the start and end of the fiscal year, excluding net unrealized gains on securities) *3 Profit attributable to owners of parent / Shareholders’ equity (average of the start and end of the fiscal year, excluding net unrealized gains on securities) Millions of yen FY3/2026 Results FY3/2027 Forecasts Change Changes in non-operating and extraordinary items and major factors for the changes Operating revenue 418,732 461,300 +42,567 ■ Non-operating income Gain on settlement of construction contracts - (-3,971) ■ Non-operating expenses Interest expenses 8,900 (+2,734) ■ Extraordinary income Gain on sale of investment securities 17,200 (+9,495) (+10.2%) Operating profit 52,659 54,000 +1,340 (+2.5%) Ordinary profit 54,028 47,900 -6,128 (-11.3%) Profit attributable to owners of parent 37,368 38,300 +931 (+2.5%) 14 FY3/2027 Forecasts * The information announced in May 2026 has not been revised.
Page 15
Copyright (C) 2026 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. Details of Consolidated Operating Revenue and Consolidated Operating Profit (YoY Change) Transportation:Although operating revenue will rise 5.8 billion yen, due primarily to a higher number of passengers carried in Railways and Buses and fare revisions in Buses and in the Hakone area, operating profit will fall 0.8 billion yen, reflecting higher depreciation and personnel expenses in Railways. Real Estate: Operating revenue will increase 31.8 billion yen and operating profit will climb 3.6 billion yen, reflecting higher projected unit sales in the sales and purchase and resale sides of Sales. Life Services: Although operating revenue will grow 4.6 billion yen, principally due to improvement in the revenue of existing stores in Stores and Retail and Restaurants, operating profit will fall 1.4 billion yen, mainly due to the suspension of accommodation operations at Southern Tower in Hotels. Millions of yen FY3/2026 Results FY3/2027 Forecasts Change Operating revenue 418,732 461,300 +42,567 Transportation 181,261 187,100 +5,838 Real Estate 96,226 128,100 +31,873 Life Services 158,606 163,300 +4,693 Adjustments -17,362 -17,200 +162 Operating profit 52,659 54,000 +1,340 Operating profit margin 12.6% 11.7% -0.9p Transportation 29,517 28,700 -817 16.3% 15.3% -1.0p Real Estate 15,473 19,100 +3,626 16.1% 14.9% -1.2p Life Services 7,658 6,200 -1,458 4.8% 3.8% -1.0p Adjustments 10 0 -10 15 418,732 +5,838 +31,873 +4,693 +162 461,300 FY3/2026 Results Transportation Real Estate Life Services Adjustments FY3/2027 Forecasts 52,659 54,000 -817 +3,626 -1,458 -10 FY3/2026 Results Transportation Real Estate Life Services Adjustments FY3/2027 Forecasts Sales: Increase in projected real estate unit sales Railways and Buses: Increase in number of passengers carried Buses/Hakone area: Fare revisions Hotels: Suspension of accommodation operations at Southern Tower Railways: Increase in depreciation and personnel expenses Stores and Restaurants: Improved results at existing stores FY3/2027 Forecasts Operating profit (Millions of yen) Operating revenue (Millions of yen) * The information announced in May 2026 has not been revised.
Page 16
Copyright (C) 2026 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. Segment Information (Transportation) Millions of yen FY3/2026 Results FY3/2027 Forecasts Change and major factors Operating revenue 181,261 187,100 +5,838 Change +3.2% Railways 132,621 135,300 +2,678 (+) Increase in number of passengers carried (+0.7% in commuters and +1.0% in non-commuters in the Company's railway business) Buses 38,363 40,400 +2,036 (+) Increase in number of passengers carried (+) Fare revisions Others 10,277 11,400 +1,122 (+) Fare revisions (from October 1, 2025 Hakone area) Operating profit 29,517 28,700 -817 Change -2.8% Operating profit margin 16.3% 15.3% -1.0p Railways 23,350 22,200 -1,150 (-) Increase in depreciation (-) Increase in personnel expenses17.6% 16.4% -1.2p Buses 3,060 3,100 +39 (-) Increase in personnel expenses 8.0% 7.7% -0.3p Others 3,106 3,400 +293 30.2% 29.8% -0.4p Capital investments 51,013 77,700 +26,686 Depreciation 29,706 31,400 +1,693 Operating profit ROA 4.3% 4.0% -0.3p 16 FY3/2027 Forecasts * The information announced in May 2026 has not been revised.
Page 17
Copyright (C) 2026 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. Hakone area only Millions of yen FY3/2026 Results FY3/2027 Forecasts Change Tourism revenue 29,758 32,147 +2,388 (+8.0%) Inbound tourism only 8,278 8,826 +547 (+6.6%) Millions of yen FY3/2026 Results FY3/2027 Forecasts Change Tourism revenue 80,614 83,187 +2,572 (+3.2%) Inbound tourism only 26,078 25,044 -1,034 (-4.0%) Tourism revenue (Including tax-free sales) Segment Information (Transportation): Major Indicators Thousands of people FY3/2026 Results FY3/2027 Forecasts Change Total 712,628 718,426 +5,798 (+0.8%) Commuters 410,778 413,595 +2,817 (+0.7%) Work commuters 292,290 294,809 +2,519 (+0.9%) School commuters 118,488 118,786 +298 (+0.3%) Non- commuters 301,850 304,831 +2,981 (+1.0%) Millions of yen FY3/2026 Results FY3/2027 Forecasts Change Total 121,039 122,584 +1,545 (+1.3%) Commuters 43,034 43,389 +354 (+0.8%) Work commuters 37,034 37,371 +336 (+0.9%) School commuters 6,000 6,018 +18 (+0.3%) Non- commuters 74,883 75,800 +917 (+1.2%) Miscellaneous revenues 3,121 3,394 +273 (+8.8%) Millions of yen FY3/2026 Results FY3/2027 Forecasts Change Total 98,591 100,875 +2,283 (+2.3%) Personnel expenses 26,262 27,090 +828 (+3.2%) Repair expenses 10,054 9,975 -78 (-0.8%) Power costs 7,028 6,974 -53 (-0.8%) Property and equipment disposal expenses 2,684 2,879 +194 (+7.3%) Depreciation 22,956 23,605 +648 (+2.8%) Others 29,605 30,349 +743 (+2.5%) Number of passengers carried Revenue Operating expenses 17 FY3/2027 Forecasts Odakyu Electric Railway Tourism revenue (Included in values for Transportation, Real Estate, and Life Services) * The information announced in May 2026 has not been revised.
Page 18
Copyright (C) 2026 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. Segment Information (Real Estate) Capital investments 21,625 38,700 +17,074 Depreciation 10,083 10,200 +116 Operating profit ROA 3.1% 3.4% +0.3p Millions of yen FY3/2026 Results FY3/2027 Forecasts Change and major factors Operating revenue 96,226 128,100 +31,873 Change +33.1% Sales 35,688 67,900 +32,211 (+) Increase in projected real estate unit sales (Sales: +201, Purchase and resale: +13) (+) Investment and development: Increase in number of properties to be sold (+3) Leasing 45,140 45,400 +259 Others 15,397 14,800 -597 Operating profit 15,473 19,100 +3,626 Change +23.4% Operating profit margin 16.1% 14.9% -1.2p Sales 2,231 6,700 +4,468 6.3% 9.9% +3.6p Leasing 12,483 11,600 -883 (-) Increase in repair expenses 27.7% 25.6% -2.1p Others 758 800 +41 4.9% 5.4% +0.5p 18 FY3/2027 Forecasts * The information announced in May 2026 has not been revised.
Page 19
Copyright (C) 2026 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. Sales Millions of yen FY3/2026 Results FY3/2027 Forecasts Change Total 35,688 67,900 +32,211 (+90.3%) Investment and development* 4,341 15,100 +10,758 (+247.8%) Sales 17,578 32,800 +15,221 (+86.6%) Purchase and resale 5,969 11,600 +5,630 (+94.3%) Others 7,799 8,400 +600 (+7.7%) Sales: Projected unit sales Residences/ sections FY3/2026 Results FY3/2027 Forecasts Change Total 230 431 +201 Land 18 ー -18 Detached house 38 12 -26 Condominium 174 419 +245 <Major properties included in projected unit sales> Total units (Number of units owned by Odakyu) Beginning of deliveries (Plan) LEAFIA Kitami Gate Terrace 5 July 2026 LEAFIA Residence Kurihira Terrace 127 December 2026 LEAFIA Residence Ebina Bright Garden 116 January 2027 LEAFIA Tower Ebina Chronos Court 304 January 2027 Investment and development: Number of properties projected to be sold Number of properties FY3/2026 Results FY3/2027 Forecasts Change Investment and development 2 5 +3 Residences/ sections FY3/2026 Results FY3/2027 Forecasts Change Purchase and resale 12 25 +13 Purchase and resale: Projected unit sales <Major properties projected to be sold> Address Total floor area Odakyu Real Estate Logistics Center Kanie Kanie-cho, Ama-gun, Aichi 15,778.18 m2 Odakyu Real Estate Logistics Center Fukuoka Shime Shime-machi, Kasuya-gun, Fukuoka 11,366.05 m2 <Major properties included in projected unit sales> Address Akasaka Apartment Minato-ku, Tokyo CLASSY HOUSE Takanawa Minato-ku, Tokyo Leasing Millions of yen FY3/2026 Results FY3/2027 Forecasts Change Total 45,140 45,400 +259 (+0.6%) Commercial facility 29,123 29,400 +276 (+0.9%) Office 8,623 8,600 -23 (-0.3%) Residence 4,231 4,200 -31 (-0.7%) Others 3,161 3,200 +38 (+1.2%) Segment Information (Real Estate): Major Indicators 19 FY3/2027 Forecasts Sales (Odakyu Electric Railway, Odakyu Real Estate) Breakdown of operating revenue * The information announced in May 2026 has not been revised. * Revenue from the sale of investment properties, rental income and dividend income from SPCs are posted.
Page 20
Copyright (C) 2026 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. Segment Information (Life Services) Millions of yen FY3/2026 Results FY3/2027 Forecasts Change and major factors Operating revenue 158,606 163,300 +4,693 Change +3.0% Department Stores 22,922 22,900 -22 Stores and Retail 67,490 70,700 +3,209 (+) Improved results at existing stores and new store openings Hotels 14,145 12,500 -1,645 (-) From October 1, 2026 suspension of accommodation operations at Southern Tower (-2.4 billion yen) (+) From December 15, 2025 RETONA HAKONE open for full year Restaurants 17,092 18,500 +1,407 (+) Improved results at existing stores Others 36,955 38,700 +1,744 (+) Resort temporary staffing Operating profit 7,658 6,200 -1,458 Change -19.0% Operating profit margin 4.8% 3.8% -1.0p Department Stores 715 800 +84 3.1% 3.5% +0.4p Stores and Retail 1,843 2,100 +256 2.7% 3.0% +0.3p Hotels 2,818 1,300 -1,518 19.9% 10.4% -9.5p Restaurants 510 700 +189 3.0% 3.8% +0.8p Others 1,770 1,300 -470 4.8% 3.4% -1.4p Capital investments 8,746 16,400 +7,653 Depreciation 4,607 5,100 +492 Operating profit ROA 6.3% 5.0% -1.3p 20 FY3/2027 Forecasts * The information announced in May 2026 has not been revised.
Page 21
Copyright (C) 2026 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. Occupancy rate Breakdown of operating revenue Odakyu Department Store: Sales Area Hotel name FY3/2026 Results FY3/2027 Forecasts Change Shinjuku Hotel Century Southern Tower* 87.7% 90.5% +2.8p Hakone Hotel de Yama 78.4% 78.6% +0.2p Hatsuhana 72.9% 80.0% +7.1p HAKONE YUTOWA 79.7% 83.2% +3.5p RETONA HAKONE 64.7% 76.3% +11.6p HOTEL CLAD 81.7% 83.0% +1.3p (Reference) Average daily rate among hotels in Hakone area: +3.0% (YoY change) * Accommodation operations will be suspended from October 1, 2026 due to renovation Segment Information (Life Services): Major Indicators Millions of yen FY3/2026 Results FY3/2027 Forecasts Change Total 64,680 65,297 +616 (+1.0%) Shinjuku Store 29,329 29,229 -100 (-0.3%) Machida Store 29,601 30,295 +693 (+2.3%) Fujisawa Store 5,749 5,773 +23 (+0.4%) Millions of yen FY3/2026 Results FY3/2027 Forecasts Change Total 67,490 70,700 +3,209 (+4.8%) Store division only 53,242 55,100 +1,857 (+3.5%) 7-Eleven only 14,067 15,400 +1,332 (+9.5%) 21 FY3/2027 Forecasts Department Stores Stores and Retail Hotels * The information announced in May 2026 has not been revised.
Page 22
Copyright (C) 2026 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. Shareholder Returns 10.0 11.0 11.0 15.0 25.0 30.011.0 10.0 10.0 10.0 21.0 19.0 25.0 30.0 30.0 FY3/2019 FY3/2020 FY3/2021 FY3/2022 FY3/2023 FY3/2024 FY3/2025 FY3/2026 FY3/2027 Interim dividend (yen) Year-end dividend (yen) Share buybacks Dividend Basic policy (FY3/2024- FY3/2027) Based on the assumption of a 30% shareholders’ equity ratio, the Company will implement stable dividends and flexible share buybacks, with a target total consolidated payout ratio of at least 40%* on average for FY3/2024 through FY3/2027 * Total amount of shareholder returns for the four years/total amount of profit attributable to owners of parent for the four years ≥ 40% FY3/2026: Pay annual dividend of 55 yen per share FY3/2027: Planning to pay annual dividend of 60 yen per share Aiming to implement share buybacks of 20.0 billion yen by the end of December 2026 (Balance sheet control based on an awareness of the shareholders' equity ratio) Considering the timing of implementation, comprehensively taking into consideration changes in the business environment, business performance, balance between share supply and demand, and other factors (Acquisitions that were made) Total for FY3/2024 and FY3/2025: 32.7 billion yen Dividend per share (including forecast) 21.0 21.0 40.0 30.0 60.0 * Diagonal lines indicate forecasts 55.0 Long-term target (-FY3/2031) Reduction of shareholders' equity ratio to 30% by FY3/2031 (36.4% at the end of FY3/2026) Shareholder returns worth 180.0 billion yen in cumulative total during FY3/2027 to FY3/2031 (200.0 billion yen in cumulative total during FY3/2026 to FY3/2031) Aiming for progressive dividends through to FY3/2031 (fiscal year for achieving consolidated financial target) 22 * The information announced in May 2026 has not been revised.
Page 23
Copyright (C) 2026 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. 715.2 626.9 652.7 699.7 790.5 Approx. 1,040.0 7.2 times 6.5 times 6.8 times 7.2 times 7.9 times 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 300.0 500.0 700.0 900.0 1,100.0 1,300.0 1,500.0 FY3/2019 FY3/2024 FY3/2025 FY3/2026 FY3/2027 FY3/2031 Interest-bearing debt Interest-bearing debt/EBITDA ratio (times) 52.0 50.7 51.4 52.6 54.0 32.4 81.5 51.9 37.3 38.3 9.7% 20.3% 11.7% 8.0% 8.0% 0.0% 5.0% 10.0% 15.0% 20.0% 0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 90.0 FY3/2019 FY3/2024 FY3/2025 FY3/2026 FY3/2027 FY3/2031 Operating profit Profit attributable to owners of parent ROE Operating profit Consolidated Financial Targets FY3/2027: 8.0％ FY3/2031: 10% or more ROE will be on a downward trend temporarily until FY3/2027 due to a decrease in extraordinary income but will grow to a level above 10% in FY3/2031 due to increases in ROA and financial leverage. Interest-bearing debt/EBITDA ratio (times) FY3/2027: ¥54.0 billion FY3/2031: ¥80.0 billion or more Income will continue to increase moderately until FY3/2027 but will grow to 80.0 billion yen or more in FY3/2031, reflecting efforts to achieve growth in tourism and Real Estate and revise fares in the Company's railway business. FY3/2027 and FY3/2031:Controlling it to maintain a 7-time level The ratio will be on an upward trend due to an increase in interest-bearing debt resulting from aggressive investment in growth areas but will be kept controlled to maintain a 7-time level until FY3/2031. Profitability ROE* (Billions of yen) (Billions of yen) 10% or more 7-time level Financial Soundness *Diagonal lines indicate forecasts/targets. *Diagonal lines indicate forecasts/targets. ¥80.0 billion or more *Profit attributable to owners of parent / Shareholders' equity (average of the start and end of the fiscal year, excluding net unrealized gains on securities) 23 * The information announced in May 2026 has not been revised.
Page 24
Copyright (C) 2026 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. (Reference 2) Semi-annual Consolidated Statement of Income Millions of yen FY3/2026 H1 Results FY3/2027 H1 Forecasts Change Operating revenue 198,448 211,600 +13,151 (+6.6%) Transportation 90,143 93,600 +3,456 Railways 66,434 68,100 +1,665 Buses 19,173 20,100 +926 Others 4,535 5,400 +864 Real Estate 39,816 45,600 +5,783 Sales 11,088 16,100 +5,011 Leasing 22,260 22,500 +239 Others 6,466 7,000 +533 Life Services 76,341 80,500 +4,158 Department Stores 10,823 11,000 +176 Stores and Retail 33,258 35,000 +1,741 Hotels 6,710 7,400 +689 Restaurants 8,362 9,200 +837 Others 17,186 17,900 +713 Adjustments -7,852 -8,100 -247 Millions of yen FY3/2026 H1 Results FY3/2027 H1 Forecasts Change Operating profit 28,034 28,700 +665 (+2.4%) Transportation 18,418 19,100 +681 Railways 15,241 15,400 +158 Buses 1,795 2,000 +204 Others 1,381 1,700 +318 Real Estate 6,630 6,400 -230 Sales -311 -300 +11 Leasing 6,849 6,600 -249 Others 91 100 +8 Life Services 2,979 3,200 +220 Department Stores 110 100 -10 Stores and Retail 807 1,100 +292 Hotels 1,261 1,500 +238 Restaurants 197 400 +202 Others 601 100 -501 Adjustments 5 0 -5 Ordinary profit 27,459 26,300 -1,159 (-4.2%) Profit attributable to owners of parent 23,069 23,000 -69 (-0.3%) FY3/2027 Forecasts 24 * The information announced in May 2026 has not been revised.
Page 25
Copyright (C) 2026 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. ■ Notice In addition to this financial results briefing document, the Company has posted the following documents as financial results information on the Financial Results section of the Odakyu corporate website (https:// www.odakyu.jp/ir/en/financial/). • Earnings Release • FAQ (released a few days after the announcement of the financial results) ■ Remarks Figures about business plans, future forecasts and strategies other than historical facts are forward-looking statements reflecting management's view. Since the forward-looking statements are based on information available at the time of disclosure, the actual results may differ from these forecasts. Odakyu Electric Railway Co., Ltd. 25