Hankyu Hanshin Toho Group

The Hankyu Hanshin Toho Group (阪急阪神東宝グループ, Hankyū Hanshin Tōhō Gurūpu) (formely known as the Hankyu Toho Group (阪急東宝グループ, Hankyū Tōhō Gurūpu) before 2006, is a Japanese keiretsu (association of businesses) 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.

(note: list incomplete)

Rough overview of the ownership relations prevailing within the Hankyu Hanshin Toho Group. Fully owned subsidiaries are not taken into account. Ownership information taken from company statements as of 2008.