Ryobi Holdings

What Ryobi Holdings does

Ryobi Holdings Co., Ltd. (両備ホールディングス株式会社) is a privately held Japanese diversified mobility and transportation holding company founded in 1910 and headquartered at the Mori no Machi Grace Office Square in Kita-ku, Okayama City. The group operates through an in-house company system of approximately twelve operating units, with a headcount of roughly 2,000 employees across the group. Its principal business is bus transportation through Ryobi Bus Company, providing highway express, route, charter/tour, and airport limousine services across the Chugoku, Shikoku, Kansai, Kyushu, Tokai, and Kanto regions under named brands such as Ryoma Express, Momotaro Express, Madonna Express, SanSan Liner, Pegasus, and Kibi Express. Beyond bus, Ryobi Sky Service Company is the general ground handling agent at Okayama Momotaro Airport for ANA and JAL, covering passenger check-in, cargo, marshalling, pushback, and flight operations; Ryobi Transport Company provides land freight and warehousing; Ryobi Store Company runs retail (P-MALL, Ryobi Plats/Parks supermarkets); Ryobi Techno Mobility handles automotive, heavy machinery and trailer manufacturing; and the City Planning and Ryobi Real Estate Tokyo subsidiaries pursue urban and residential development.

Revenue mechanics are transaction/take-rate based across each line: per-ride bus fares with tiered student, round-trip, and Web early-bird discounts (e.g., Ryoma Express one-way ¥4,400; Kibi Express one-way ¥3,400-¥3,600; Kyoto route ¥4,100-¥4,500 by date schedule), managed-services contracts for airline ground handling, retail margin on store and supermarket operations, and project/development revenue from real estate. Distribution is hybrid: direct via web booking (ryobi-bus.jp), call center (0570-08-5050), and physical ticketing offices, complemented by reseller channels (convenience stores, travel agencies) and joint operations with peer carriers (JR Shikoku Bus, JR Bus Chugoku, Ichibata Bus, Shimoden Electric Railway, Keihan Kyoto Kotsu, Iyo Railway Bus, Tosa Denko Kotsu, Tokushima Bus, Hinomaru Bus, Chutetsu Bus). GTM mixes always-on B2C with event-driven marketing such as Fagiano Okayama sports sponsorship, concert shuttles, and seasonal destination campaigns. Technology stack centers on transportation safety systems (LDW on all highway buses, Active Side Guard Assist, ABA4 pedestrian detection, EDSS, GPS fleet monitoring) and is not software-native; no proprietary AI/ML product is disclosed. Primary customers are individual bus passengers (commuters, tourists, students, seniors) and corporate clients (ANA, JAL for airport services, freight customers, charter/event organizers).

Name

Ryobi Holdings

Legal name

両備ホールディングス株式会社

Website

https://ryobi-holdings.jp

Company type

Private

Founded year

1910

Operating status

Operating

Headcount range

1–10 employees

Short description

Ryobi Holdings is a privately held Japanese mobility and transportation holding company founded in 1910, headquartered in Okayama, operating intercity and route buses, ANA and JAL airport ground handling at Okayama Momotaro Airport, freight, retail, and real estate development across Japan.

Ownership category

akta.pro rank

Product category

Intercity Bus Transportation

NAICS

Bus and Other Motor Vehicle Transit Systems (485113), Other Support Activities for Transportation (4889), Other Support Activities for Air Transportation (488190), Warehousing and Storage (493)

SIC

Transportation Services (4700), Arrangement Of Transportation Of Freight & Cargo (4731), Public Warehousing & Storage (4220)

akta.pro primary industry

Motorcoach (Intercity) Bus Leasing/Rental (TLABADAA)

akta.pro secondary industry

Shuttle Bus Leasing/Rental (Airport/Hotel/Corporate) (TLABADAD)

Keywords

• Intercity bus services
• Airport ground handling
• Freight logistics
• Shopping center operations
• Urban real estate development

Headquarters

HQ city

Okayama

HQ country

Japan

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Bus Transportation Services: Core revenue from local route buses, high-speed intercity buses, airport limousine buses, charter buses, and tourism buses. Includes ticket sales, passes, and scheduled transportation services across multiple routes.
2. Logistics and Freight Services: Truck transportation, warehouse operations, customs clearance services through Ryobi Transport Company covering domestic and regional freight.
3. Airport Ground Handling Services: Passenger services, cargo handling, ground handling, and flight operations support at Okayama Momotaro Airport for ANA and JAL airlines.
4. Retail Store Operations: Shopping center (P-MALL), supermarkets (Ryobi Platz, Parks) operations under Ryobi Store Company.
5. Automotive Sales and Services: Automobile, heavy machinery, special vehicle sales and maintenance, trailer manufacturing, metal processing, office systems and security services.
6. Real Estate Development: Urban development, residential development, condominium sales, brokerage, leasing, consulting, and comprehensive real estate services. Building management and construction services.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Ryobi Holdings operates a diversified transportation and mobility portfolio through internal companies. Its core offering is passenger bus transportation — highway/express buses, local route buses, airport limousine buses, and charter/sightseeing buses connecting Okayama Prefecture with major Japanese cities. The group also provides airport ground handling for ANA and JAL at Okayama Momotaro Airport, freight transportation and warehousing via Ryobi Transport, retail operations through shopping centers and supermarkets, automotive and heavy machinery sales/maintenance, and urban real estate development through its City Planning division.

Product overview

Ryobi Holdings is a diversified transportation and mobility group headquartered in Okayama Prefecture, Japan, established in 1910. The company operates through an internal company (社内カンパニー) structure consisting of multiple business units: 両備バス (Ryobi Bus) providing highway, route, airport limousine, and charter bus services; 両備スカイサービス (Ryobi Sky Service) handling airport ground operations at Okayama Momotaro Airport including passenger services, cargo handling, and flight operations; 両備トランスポート (Ryobi Transport) for land logistics and warehousing; 両備ストア (Ryobi Store) for retail operations including shopping centers and supermarkets; 両備テクノモビリティー for automotive sales, manufacturing, and technology; and まちづくり+c21 for urban development and real estate. The portfolio includes the core bus transportation services as the primary business alongside airport handling, retail, and real estate development operations.

Differentiator

Problem solved

Functional benefit

Brands

• 両備バス (Ryobi Bus): Highway buses, route buses, chartered buses, and travel services connecting Okayama with various cities across Japan
• 両備スカイサービス (Ryobi Sky Service)
• ももたろうエクスプレス (Momotaro Express)
• マドンナエクスプレス (Madonna Express)
• 龍馬エクスプレス (Ryoma Express)
• サンサンライナー (San San Liner)
• ペガサス号 (Pegasus)
• 吉備エクスプレス大阪号 (Kibi Express Osaka)

Products and services

• Ryobi Bus (両備バス) Passenger Transportation Highway/express buses, local route buses, airport limousine buses, charter buses, and sightseeing tour services operated under the Ryobi Bus Company. Connects Okayama Prefecture with major cities including Tokyo, Osaka, Kyoto, Kobe, Hiroshima, Matsuyama, Kochi, Tokushima, Fukuoka, and Izumo. Includes branded services like Momotaro Express, Madonna Express, Ryoma Express, San San Liner, Pegasus, and Kibi Express.
• Ryobi Sky Service Airport Ground Handling Comprehensive airport ground handling at Okayama Momotaro Airport for ANA, JAL, and Tigerair Taiwan. Services include passenger handling (check-in, boarding gates), cargo acceptance and handling, aircraft marshalling, pushback operations, boarding bridge management, baggage/cargo loading, and flight operations support.
• Ryobi Transport Freight and Logistics Land transportation, warehousing, and customs clearance services operated through Ryobi Transport Company. Provides nationwide truck freight, warehouse storage, and import/export customs brokerage to business customers.
• Ryobi Store Retail Operations Shopping center operations (P-MALL) and supermarket operations (Ryobi Plats, Parks) under Ryobi Store Company, providing retail goods and services to consumers in Okayama.
• Ryobi Techno Mobility Automotive and Industrial Services Automobile sales, heavy machinery sales, special vehicle sales and maintenance, trailer manufacturing, metal processing, office systems, and security systems. Includes robotics/electronics development through Solex Company operations.
• Machizukuri (City Planning) Real Estate Development Urban development, residential development, condominium sales, real estate brokerage and leasing, building management, and construction services operated under Machizukuri Company in the Okayama region.
• Ryobi Real Estate Tokyo Development Real estate investment and development in the Tokyo metropolitan area and surrounding regions, operated through Ryobi Real Estate Tokyo Company.
• SEFU Cruise Ship Service New cruise ship service with announced SEFU design, expanding Ryobi's mobility and tourism offerings.

Quantifiable outcome

• 100% Lane Departure Warning (LDW) system coverage on high-speed buses
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

16 partnerships are on record, tiered core and minor.

• ANA (全日本空輸)coreStrategic or Co-development PartnerRyobi Sky Service Company serves as ANA Okayama area general agent, providing passenger handling, cargo, ground handling, and flight operations support at Okayama Momotaro Airport. Multiple staff interviews show dedicated ANA operations including passenger check-in, baggage handling, and flight coordination.
• JAL (日本航空)coreStrategic or Co-development PartnerRyobi Sky Service handles JAL passenger services, cargo, and ground handling operations at Okayama Momotaro Airport. Staff profiles indicate dedicated JAL passenger operations and cargo services.
• JR四国バス (JR Shikoku Bus)coreChannel Partner/ Reseller/ DistributorJoint operation partner on high-speed bus routes including Kochi (龍馬エクスプレス), Tokushima, Matsuyama routes. Multiple companies operate coordinated services on shared routes.
• 下津井電鉄 (Shimoden Electric Railway)coreChannel Partner/ Reseller/ DistributorJoint operation partner on multiple routes including Osaka, Kyoto, Matsuyama, and Fukuoka (Pegasus) routes. Provides coordinated high-speed bus services.
• JRバス中国 (JR Bus Chugoku)coreChannel Partner/ Reseller/ DistributorJoint operation partner on Hiroshima (SanSan Liner) and Izumo (Momotaro Express) routes. Coordinates intercity bus services.
• 中鉄バス (Chutetsu Bus)coreChannel Partner/ Reseller/ DistributorJoint operation partner on Izumo route and other high-speed bus services. Provides coordinated route operations.
• 日ノ丸自動車 (Hinomarubus)coreChannel Partner/ Reseller/ DistributorJoint operation partner on Kurayoshi route from Okayama. Operates coordinated express bus services.
• 神姫バス (Shinkibus)minorChannel Partner/ Reseller/ DistributorFormer joint operation partner on Kobe route. Announced suspension of Okayama-Kobe service from October 2023, with Ryobi taking over operations.
• 伊予鉄バス (Iyo Railway Bus)coreChannel Partner/ Reseller/ DistributorJoint operation partner on Matsuyama route (Madonna Express). Coordinates express bus services to Ehime Prefecture.
• とさでん交通 (Tosa Denko Kotsu)coreChannel Partner/ Reseller/ DistributorJoint operation partner on Kochi route (Ryoma Express). Coordinates express bus services to Kochi Prefecture.
• 徳島バス (Tokushima Bus)coreChannel Partner/ Reseller/ DistributorJoint operation partner on Tokushima route. Coordinates express bus services between Okayama and Tokushima.
• 一畑バス (Ichibata Bus)coreChannel Partner/ Reseller/ DistributorJoint operation partner on Izumo route (Momotaro Express). Coordinates services to Shimane Prefecture.
• 京阪京都交通 (Keihan Kyoto Kotsu)coreChannel Partner/ Reseller/ DistributorJoint operation partner on Kyoto route. Coordinates express bus services to Kyoto.
• 広交観光 (Kokou Kanko)coreChannel Partner/ Reseller/ DistributorJoint operation partner on Hiroshima route (SanSan Liner). Coordinates express bus services to Hiroshima.
• Fagiano OkayamaminorGTM or Marketing PartnerSports team sponsorship for Fagiano Okayama, a J-League football club. Includes dedicated bus services to matches and promotional partnerships.
• Tigerair TaiwanminorStrategic or Co-development PartnerInternational route partner for Taiwan flights at Okayama Airport. Ryobi Sky Service provides ground handling for Taiwan routes.

Scale indicators5 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Shimoden Electric Railway (Shimoden Bus): Joint operation partner on multiple high-speed bus routes including Osaka, Kyoto, Matsuyama, and Fukuoka (Pegasus) routes. Both companies are regional Japanese bus operators with diversified portfolios and overlapping JV route economics.
• JR Bus Chugoku (Chugoku JR Bus): Joint operation partner on the Hiroshima (SanSan Liner) and Izumo (Momotaro Express) routes. Operates highway buses across the same Chugoku region with similar vehicle fleets, fare structures, and JR-affiliated distribution channels.
• JR Shikoku Bus: Co-operator on Kochi (Ryoma Express), Tokushima, and Matsuyama routes. A directly comparable regional intercity bus operator sharing JV route economics and Japan highway bus market dynamics.
• Ichibata Bus: Joint operation partner on the Izumo route (Momotaro Express). A regional Japanese bus operator with similar long-distance intercity route profile and Okayama-Shimane corridor overlap.
• Tosa Kotsu (Tosa Denko Kotsu): Joint operation partner on the Kochi route (Ryoma Express). Comparable regional bus operator with highway and route services in Shikoku, similar customer base and fare structures.
• Iyo Railway (Iyo Railway Bus): Joint operation partner on the Matsuyama route (Madonna Express). Diversified regional transportation group with bus, rail, and real estate — directly comparable structure to Ryobi's in-house company model.
• Keihan Bus / Keihan Kyoto Kotsu: Joint operation partner on the Kyoto route. Part of Keihan Holdings group with bus operations overlapping Ryobi's Kansai region routes and similar multi-modal operating model.
• Tokushima Bus: Joint operation partner on the Okayama-Tokushima route. A regional bus operator with comparable intercity route economics and similar passenger demographic exposure.

Broad incumbents

• Keio Bus / Keio Corporation: Larger Japanese transportation group with bus, rail, retail, and real estate operations. Not a direct competitor on Ryobi's routes but a comparable diversified mobility conglomerate with similar internal company structure and Tokyo-area operating footprint.
• Nankai Electric Railway (Nankai Bus): Diversified Japanese transportation conglomerate with bus, rail, real estate, and retail. Operates in Kansai region that overlaps Ryobi's Osaka/Kyoto/Kobe routes, though at much larger scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@channelRyobiGroup
• Facebookfacebook.com/GroupRyobi
• Instagraminstagram.com/ryobibus
• Xx.com/GroupRyobi
• LinkedInlinkedin.com/company/phg-consulting-preferred-hospitality-group-

Compliance10 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ryobi Holdings