Hankyu Hanshin Toho Group

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The Hankyu Hanshin Toho Group (阪急阪神東宝グループ) (before 2006 known as the Hankyu Toho Group (阪急東宝グループ)) is a Japanese keiretsu (association of businesses) centered on companies established by railway tycoon Ichizō Kobayashi: Hankyu Hanshin Holdings, H2O Retailing and Toho. The keiretsu historically included Sanwa Bank, now part of Mitsubishi UFJ Financial Group, and is still closely linked to MUFG; it also has close ties with the Fujisankei Communications Group.

Ownership structures

Group companies

(note: list incomplete)

Hankyu Hanshin Holdings Group

H2O Retailing Group

Toho Group

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