Nagoya Horse Racing Co.,Ltd. (E04604) Stock Price

Nagoya Keiba owns the land, buildings, and facilities of the Chukyo Racecourse in Aichi Prefecture and leases them to the Japan Racing Association. Its primary business is real estate leasing. The company plays an important role in supporting the operation of both central racing and local racing through the leasing of racecourse facilities.

The company's main customers are the Japan Racing Association, which operates central racing, and the Aichi Prefecture Racing Association, which operates local racing. Revenue is primarily generated from racecourse facility rental fees, providing a stable and continuous income base through long-term lease agreements.

The company's business consists of racecourse facility leasing, parking lot operations, and other operations. The parking lot business operates paid parking for racing fans during race events and monthly parking for local residents. Other operations include owning racehorses to support livestock industry development and generating revenue from racehorses prize money.

Nagoya Keiba operates under a management philosophy aimed at advancing horse racing and contributing to the local community through the development of an attractive Chukyo Racecourse. The company pursues both performance improvement and stable management while expanding its fan base. It prioritizes stable returns to shareholders while actively building internal reserves to prepare for future capital investments and unforeseen circumstances such as natural disasters.

In priority investment areas, the company focuses on developing and expanding facilities that allow people of all ages to enjoy horse racing. While maintaining close coordination with the Japan Racing Association, the company positions enhanced fan services as a core differentiation strategy to acquire new customer segments. It aims to improve competitiveness through better viewing environments and strengthened customer service.

Regarding the operating environment, the leisure market is recovering following the reclassification of COVID-19 to Category 5, and the horse racing industry has recorded record attendance with betting volumes exceeding the previous year. However, the company faces the need to review its medium- to long-term business strategy in response to future population decline and intensifying competition from diversified leisure industries.

The company strengthens initiatives to promote participation among a broad customer base, aligning with the Japan Racing Association's efforts to improve the convenience of telephone and internet betting and enhance the image of horse racing through various media. As a racecourse operator, the company builds a sustainable business model based on stable real estate rental income while contributing to the development of the horse racing industry as a whole.