Notice Regarding Revision of Full-Year Consolidated Earnings Forecast for the Fiscal Year Ending March 2026

Overview of Earnings Forecast Revision

Seibu Holdings Inc. has revised its full-year consolidated earnings forecast for the fiscal year ending March 2026, significantly upwardly adjusting net income attributable to owners of parent to 38,800 million yen (previous forecast: 29,000 million yen). The revision is due to recording a corporate tax adjustment (gain) and improved recoverability of deferred tax assets, along with reductions in expenses in the real estate and urban transportation & railway businesses, and the recognition of foreign exchange gains. Operating revenue is expected to reach 513,200 million yen and operating income 45,500 million yen, both exceeding the previous forecasts.

Segment Performance Outlook and Business Indicators

In the real estate business, both operating revenue and operating income are expected to exceed previous forecasts due to the effect of equity stake sales and expense reductions. The hotel and leisure business anticipates increased operating revenue driven by strong banquet sales in domestic hotels; however, operating income is expected to fall below the previous forecast due to increased depreciation expenses at some overseas hotels. The urban transportation & railway business is improving profitability due to increased transportation revenues and decreased expenses, and the sports business is also performing well. Occupancy rates, ADR, and railway passenger transportation revenues generally maintain or exceed prior forecasts.