Hankyu Hanshin Toho Group


The Hankyu Hanshin Toho Group centered around 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.

Group companies

Hankyu Hanshin Holdings Group

H2O Retailing Group

Toho Group