Reference Data. July 2000 Explanatory Meeting for Investors. Tokyu Corporation

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1 Reference Data July 2 Explanatory Meeting for Investors Tokyu Corporation

2 Contents Outline of Areas along the Tokyu Railroad 1 Transition of Land Prices in Tama Garden City ( Tama Denen Toshi ) 2 Leased Premises of Tokyu Group 3 Commercial Facilities of Tokyu Group 4 Tokyu Group Hotels 5 Leisure Facilities of Tokyu Group 6 Transition of Passenger Revenues 7 Transition of Passenger Volume 8 Comparisons of 3 SubCenters in Tokyo 9 Outline of Employees 1 Comparisons of Shareholders Distributions 11 Business Performance of Tokyu Cable Television Co.,Ltd. 12

3 Population Outline of Areas along the Tokyu Railroad Name of Area Entire Population Entire Population Entire Population Entire Population 4 years of age Distribution 4 years of age Distribution 4 years of age 4 years of age 99 (persons) 95 (persons) : (persons) Ratio 95(persons) Ratio :95 As of March 31/99 As of March 31/95 (persons) (%) As of March 31/99 (%) As of March 31/95 (%) (%) (persons) Whole Country 125,86,6 124,655,498 1,24, ,955, ,99, (35,685) 99.4 Tokyo 11,68,49 11,549, , Kanagawa 8,324,355 8,143,569 18, Chiba 5,863,182 5,751, , Saitama 6,838,164 6,673,76 164, Total 32,76,191 32,118, , Along the Tokyu Railroad Tokyo 2,516,145 2,483,859 32, Kanagawa 2,5,258 1,91,354 13, Total 4,521,43 4,385, ,19 * , , , , , , , , , , , , ,491, ,468, , , , , , , , , , ,721 * *1 The population in areas along the Tokyu Railroad is on the rise. *2 The areas along the Tokyu Railroad show no apparent declining birthrate. Consumption Expenditures Name of Area Population Number of Households Area Consumption Expenditure (workers households) Number of High Income Taxpayer (persons) Household Average Total Index Number of Persons Per 1, Persons Index (households) (square kilometers) (yen/year) Number Number As of March 31/99 As of March 31/99 As of Oct. 1/ ( million/year) 97 (persons) (persons) Whole Country 125,86,6 46,811, ,776 3,938, , Tokyo 11,68,49 5,331,97 2,187 Kanagawa 8,324,355 3,315,579 2,414 Chiba 5,863,182 2,164,53 5,156 Saitama 6,838,164 2,452,52 3,797 Total 32,76,191 13,263,726 13,554 Along the Tokyu Railroad Tokyo 2,516,145 1,24, Kanagawa 2,5, , Total 4,521,43 2,57, , , , , , ,47,859 8, ,131,81 2, ,667,594 *1 9,62,669 *2 119 *3 1, *1 Tokyu Group accounts for 78% of personal consumer expenditures. *2 Consumer expenditures per household along the Tokyu Railroad is 1.2 times the national average. *3 One out of nine high income taxpayers lives in the areas along the Tokyu Railroad. 1

4 (yen/ m2 ) 8, Transition of Land Prices in Tama Garden City ( Tama Denen Toshi ) 7, Posted and Benchmark Land Prices of Tama Garden City 6, 5, Posted Land Price Benchmark Land Price 4, 3, 2, 1, *Fluctuation rates of posted land prices of residential areas of Tokyo by railroad line ( % ) Inner City Southern Area Western Area Northern Area Eastern Area Railroad Line Along and inside the Yamanote Loop Line Vicinity of Keihin Express & Yokosuka Line Vicinity of Tokaido Line Vicinity of Toyoko Line Vicinity of Denen Toshi line Vicinity of Odakyu Line Vicinity of Keio Line Vicinity of Chuo Ome Line Vicinity of Seibu Shinjuku Line Vicinity of Seibu Ikebukuro Line Vicinity of Tobu Tojo Line Vicinity of Tohoku Line & Takasaki Line Vicinity of Tobu Isezaki Line Vicinity of Joban Line Vicinity of Sobu Line & Keisei Line (15.4) (3.2) (1.9) (4.6) (5.4) (3.2) (4.2) (3.4) (3.8) (5.) (6.5) (5.) (4.6) (6.5) (7.7) (9.) (2.5) (1.7) (3.5) (2.6) (2.3) (2.6) (2.) (2.3) (3.6) (3.2) (3.8) (4.) (5.2) (5.6) (3.1) (1.8) (1.5) (2.2) (2.) (1.7) (2.4) (1.9) (2.4) (2.8) (3.6) (3.7) (4.) (4.) (5.4) (4.3) (4.2) (4.6) (4.6) (5.1) (4.8) (6.) (7.1) (7.4) (7.4) (6.4) (5.9) (7.9) (7.5) (9.5) (3.3) (4.8) (5.2) (4.2) (4.9) (5.9) (6.2) (7.) (7.6) (7.6) (7.) (6.4) (7.7) (7.9) (1.6) ,4 yen (as of Jan. 2) *The rate of decrease of land prices along the Tokyu Railroad is decreasing. 2

Leased Premises of Tokyu Group 3km 2km 1km Shibuya Tokyo Sangenjaya Carrot Tower FutakoTamagawa Setagaya Business Square Meguro

22 ) Tama Garden City Kamata Nagatsuta Kawasaki ChuoRinkan Cerulean Tower ( Completion Planned April, 21 ) Queen's Square

Date Total Floor Space Structure Scale Queen's Square Yokohama (Joint Project) Yokohama City Management (Composed of Tokyu YMM

floors and 28 floors; Tower C: 5 basement floors and 21 floors; Commercial Section: 3 basement floors and 4 floors; Hotel

Setagayaku, Tokyo Nov., 1993 96,m2 2 basement floors and 29 floors, etc. Carrot Tower (Redevelopment Project) Tokyu Corp.

, 1996 77,m2 5 basement floors and 27 floors Shibuya Mark City (Joint Project) TEITO Rapid Transit Authority, Tokyu Corp, Keio

Corp. Shibuyaku, Tokyo April, 21(plan) 16,m2 6 basement floors and 41 floors Meguro Station Building (Joint Project) Tokyu Corp.

5 Leased Premises of Tokyu Group 3km 2km 1km Shibuya Tokyo Sangenjaya Carrot Tower FutakoTamagawa Setagaya Business Square Meguro Shinagawa Shibuya Mark City ( Opened April, 2 ) TamaPlaza Jiyugaoka Oimachi Meguro Station Building ( Completion Planned Spring, 22 ) Tama Garden City Kamata Nagatsuta Kawasaki ChuoRinkan Cerulean Tower ( Completion Planned April, 21 ) Queen's Square Yokohama Yokohama Nihonbashi 1Chome Project ( Completion Planned Spring, 24 ) New Project Business Owner Site Location Opening Date Total Floor Space Structure Scale Queen's Square Yokohama (Joint Project) Yokohama City Management (Composed of Tokyu YMM Properties and 8 other parties) Nishiku,Yokohama July, ,m2 Tower A: 5 basement floors and 36 floors; Tower B: 5 basement floors and 28 floors; Tower C: 5 basement floors and 21 floors; Commercial Section: 3 basement floors and 4 floors; Hotel Section: 3 basement floors and 21 floors Setagaya Business Square (Joint Project) Tokyu Corp., Tokyu Land Corp. Setagayaku, Tokyo Nov., ,m2 2 basement floors and 29 floors, etc. Carrot Tower (Redevelopment Project) Tokyu Corp. and others Setagayaku, Tokyo Nov., ,m2 5 basement floors and 27 floors Shibuya Mark City (Joint Project) TEITO Rapid Transit Authority, Tokyu Corp, Keio Shibuyaku, Tokyo April, 2 14,m2 East: 2 basement floors and 25 floors; West: 1 basement floor and 23 floors Cerulean Tower Tokyu Corp. Shibuyaku, Tokyo April, 21(plan) 16,m2 6 basement floors and 41 floors Meguro Station Building (Joint Project) Tokyu Corp., East JR Co. Shinagawaku, Tokyo Spring, 22 (plan) 55,m2 4 basement floors and 17 floors Nihonbashi 1Chome Project (Joint Project) Tokyu Corp., Tokyu Land Corp., Mitsui Fudosan Co., Ltd. Chuoku, Tokyo Spring, 24 (plan) 97,m2 3 basement floors and 26 floors (plan) 3

6 Commercial Facilities of Tokyu Group Scale of Tokyu Group Commercial Facilities Ranking of Retail Sales annual sales(hundred millions yen) Number of Facilities Gross Floor Space Daiei Shopping Centers 28 centers Approx. 23, m2 Yokado JUSCO Department Stores 13 stores Approx. 28, m2 MYCAL Supermarkets 118 stores Approx. 31, m2 Takashimaya SEIYU Convenience Stores 16 stores Approx. 3,m2 Tokyu Group DIY(Tokyu Hands) 14 stores Approx. 7, m2 UNY Mitsukoshi Total Approx. 893, m2 5, 1, 15, 2, 25, 4

7 Tokyu Group Hotels Scale of Tokyu Group Hotels Ranking of Hotel Capacity(Domestic) (as of June 2) No. of Rooms (room) No. of Facilities No. of Rooms Inn 34 locations 7,889 Prince Hotels Tokyu Inn Chain Excel Resort 4 locations 1,314 6 locations 692 Washington Hotels SUNROUTE Hotel Chain Total 44 locations 9,895 Tokyu Inn Chain Tokyu Hotel Chain 2 locations 6,26 Pan Pacific Hotels and Resorts 17 locations 6,285 JAL Hotels ANA Hotels Hotel α1 Chain Tokyu Harvest (Members Resort Hotel) Tokyu Stay (Business hotel for longterm stay) 16 locations 1,563 7 locations 623 DAIWA ROYAL HOTELS DAIICHI HOTEL Chain Tokyu Hotel Chain Chisan Hotel Chain Big Week Station (Time Share Resort Hotel) 2 locations 51 Bass Hotels & Resorts Total 16 locations 24,677 5, 1, 15, 2, 25, 5

8 Leisure Facilities of Tokyu Group Golf Courses Movie Theaters Management Body No. of Facilities Management Body No. of Facilities Tokyu Land Corp. 14 Tokyu Corp. 8 Tokyu Construction Co., Ltd. 2 Tokyu Recreation Co., Ltd. 14 Tokyu Department Store Co., Ltd. 1 Tokyu Bunkamura 1 Others: 7 Companies 7 Total 31 Total 15 Joint management with Tokyu Recreation Sports Facilities Ski Sites Management Body No. of Facilities Management Body No. of Facilities Tokyu Land Corp. 17 Tokyu Corp. 12 Tokyu Land Corp. 5 Tokyu Corp. 1 Tokyu Recreation Co., Ltd. 8 Others: 3 Companies 5 Others: 2 Companies 4 Total 42 Total 1 6

9 Transition of Passenger Revenues 14, ( million) 12, 1, 8,542 84,927 93,381 93,73 92,779 1,569 19,73 19,235 11, ,11 8, 6, 4, 2, FY FY FY FY FY FY FY FY FY FY2.3 Commuter 35,868 37,935 43,44 42,351 42,33 45,646 5,289 5,318 5,956 5,494 Noncommuter 44,674 46,993 5,337 5,722 5,746 54,922 59,441 58,917 59,534 6,66 Total 8,542 84,927 93,381 93,73 92,779 1,569 19,73 19,235 11, ,11 *Tokyu Corp. 7

10 Transition of Passenger Volume 1,2, (thousand persons) 1,, 958,63 974,69 967, ,95 955, ,429 95, ,88 935,99 935,69 8, 6, 4, 2, Commuter Noncommuter Total FY FY FY FY FY FY FY FY FY FY , , ,345 66,231 6,765 65, ,75 594,427 58, ,91 346, , , , ,397 35, ,74 352, , , ,63 974,69 967, ,95 955, ,429 95, ,88 935,99 935,69 *Tokyu Corp. 8

11 Comparisons of 3 SubCenters in Tokyo (thousand persons) 3,5 3, 2,5 2, 1,5 1, 5 *Comparison of Passengers at Stations Shibuya Shinjuku Ikebukuro (thousand persons) Shibuya Shinjuku Ikebukuro ,34 2,954 2, ,682 3,444 3, ,691 3,498 3,13 (thousand m2 ) 2,5 2, 1,5 1, 5 *Comparison of Space of Leased Offices Shibuya Shinjuku Ikebukuro Shibuya Shinjuku Ikebukuro Existing Space 854,415 2,27, ,553 Shibuya Mark City 27,313 Cerulean Tower 16,6 Total 898,328 2,27, ,553 ( m2 ) ( m2 ) *Floor Space of LargeScale Retail Stores 5, 4, 3, 2, 1, Mark City Shibuya Shinjuku Ikebukuro ( m2 ) Shibuya Shinjuku Ikebukuro Existing Stores 228, ,6 337,64 Shibuya Mark City 8, ーー Total 236, ,6 337,64 (rooms) *Comparison of the Number of Hotel Rooms Future Shibuya Shinjuku Ikebukuro Shibuya Shinjuku Ikebukuro Existing Rooms 724 7,161 2,447 Shibuya Mark City 48 Cerulean Tower 659 Total 1,791 7,161 2,447 (rooms) 9

12 Outlines of Employees (persons) 9, 7,787 8, 7, 6, 7,773 *Number of Employees 7,687 7,621 7,52 7,272 7,55 6,782 6,569 6,132 (persons) ~19 2~24 25~29 3~34 35~39 Employees Temporary Transferees 43 *Age Distribution of Employees ,11 5, 4, 4~44 45~49 5~ , 55~ 1,16 2, 1, (people) *New Recruits 289 FY FY FY FY FY FY FY FY FY FY2.3 Temporary Transferees 656 2,741 2,617 2,528 2,433 2,336 2,241 2,98 1,989 1,687 Railways 3,288 3,333 3,316 3,312 3,35 3,181 3,127 3,51 2,988 2,971 Other Businesses 2, Others 1,38 1,4 1,55 1,62 1,5 1, Total 7,787 7,773 7,687 7,621 7,52 7,272 7,55 6,782 6,569 6, FY FY FY FY FY FY FY FY FY FY2.3 1

13 Comparisons of shareholders Distributions (%) Large Private Railways / Financial Firms Tokyu / Financial Firms Large Private Railways / Individuals Tokyu / Individuals Large Private Railways / Foreigners Tokyu / Foreigners. FY FY FY FY FY199.3 FY FY FY FY FY FY FY FY FY FY2.3 Tokyu Corp./ Financial Firms Tokyu Corp./ Foreigners Tokyu Corp./ Individuals Large Private Railways/Financial Firms Large Private Railways/Foreigners Large Private Railways/Individuals *There are 14 Large Private Railways in addition to Tokyu. 11

14 Tokyu Cable Television Co.,Ltd. Financial Highlights ( thousand ) FYs Operating Revenues 1,452,471 2,127,227 2,533,614 2,695,175 3,6,438 3,853,649 3,89,511 5,938,3 6,112,269 7,853,756 Internet Business Revenues 118, ,375 Cable TV Business Revenues 1,452,471 2,127,227 2,533,614 2,695,175 3,6,438 3,853,649 3,89,511 5,938,3 5,993,517 7,411,381 Multichannel Fee and Others 1,446,768 2,59,527 2,35,372 2,339,82 2,731,676 2,876,438 3,247,73 3,531,215 4,123,799 4,896,983 Service for Radio Disturbance 5,73 67,7 228, , , , ,439 2,46,788 1,869,717 2,514,398 Operating Income ( 11,18) 23,593 41,74 85,34 ( 534,33) 169, ,942 ( 7,) 64,68 817,838 Recurring Income ( 29,28) 7,69 24,41 71,531 ( 339,269) 29, ,634 ( 44,199) 17, ,75 Net Income ( 29,958) 69,858 23,66 7,781 ( 34,89) 29,34 137,2 ( 47,39) 83, ,128 Depreciation and Amortization ,728 99, ,455 1,251,192 1,49,616 1,669,214 12

15 Tokyu Cable Television Co.,Ltd. Operating Revenues 1, ( million) Operating Revenues Internet 7,854 7,5 Service for Radio Disturbance Multichannel and others 5,938 6,112 5, 3,6 3,854 3,891 2,5 2,127 2,534 2,695 1,

16 Tokyu Cable Television Co.,Ltd. Number of Subscribers ( Households ) FYs Broadcasting (Cable TV) Service (a)+(b) Increased Subscribers vs L.Y. 7,414 17,373 28,45 15,16 2,43 23,121 11,781 39,398 42,515 35,23 Accumulated Subscribers 14,24 31,613 6,18 75,124 95, ,288 13,69 169, , ,212 Multichannel (a) Increased Subscribers vs L.Y. 4,763 6,353 5,99 3,921 5,5 5,822 5,731 6,699 8,321 7,896 Accumulated Subscribers 11,589 17,942 23,932 27,853 32,93 38,725 44,456 51,155 59,476 67,372 Retransmitting (b) Increased Subscribers vs L.Y. 2,651 11,2 22,415 11,185 14,993 17,299 6,5 32,699 34,194 27,334 Accumulated Subscribers 2,651 13,671 36,86 47,271 62,264 79,563 85, , ,56 179,84 Internet Service (c)+(d) Increased Subscribers vs L.Y. 5,359 11,585 Accumulated Subscribers 5,359 16,944 Broadcasting and Internet (c) Increased Subscribers vs L.Y. 4,754 9,537 Accumulated Subscribers 4,754 14,291 Internet only (d) Increased Subscribers vs L.Y. 65 2,48 Accumulated Subscribers 65 2,653 Total Number of Subscribers (a)+(b)+(d) 14,24 31,613 6,18 75,124 95, ,288 13,69 169, , ,865 14

17 Tokyu Cable Television Co.,Ltd. Number of Subscribers 3, ( Households) 25, Number of Subscribers Internet only 249,865 Broadcasting and Internet 212,587 2, Broadcasting only 169,467 15, 118,288 13,69 1, 95,167 75,124 6,18 5, 31,613 14,

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