I am Itoh, Executive Vice President. I will now provide an overview of our financial results for the third quarter of the fiscal year ending March 2026, fiscal year 2025. Here are the key points of our third quarter financial results. The overall trends remain consistent with what we observed through the second quarter, on a consolidated basis we achieved increases in both revenue and net income. However, operating income and ordinary income decreased year-on-year. Operating revenue reached JPY 2,240 billion, marking our fifth consecutive year of revenue growth. This was driven by an increase in railway ridership and the resulting strong performance of our Ekinaka in-station stores. Furthermore, the opening of Takanawa Gateway City also contributed to these results. Operating income was JPY 349.6 billion, a decrease of JPY 2.9 billion year-on-year.
This was due to rising personnel expenses as well as the impact of front-loading our railway maintenance costs. Furthermore, since real estate sales for this fiscal year are primarily scheduled for the fourth quarter, this timing difference acted as a factor in the year-on-year profit decrease for the third quarter. On the other hand, quarterly profit attributable to owners of parent reached JPY 219.4 billion, an increase of JPY 2.8 billion year-on-year. This was driven by factors such as an increase in gain on sale of investment securities. By segment, the real estate and hotels business was the only one to report increased revenue and decreased income. All other segments achieved growth in both revenue and income. As our performance is trending in line with our full-year plan, we have made no change to our full-year financial forecasts and dividend payments.
We plan to issue a full-year dividend of JPY 70 per share, representing a dividend payout ratio of 33.3%. This slide shows the analysis of year-on-year changes in consolidated operating income. The growth in revenue was bolstered by an increase of approximately JPY 55 billion in JR East transportation revenues. Within this, commuter passes contributed roughly JPY 6.5 billion, while non-commuter passes revenue accounted for approximately JPY 48.5 billion. Revenue growth in the retail and services, and real estate and hotels segments, excluding real estate sales, as well as an increase in other revenue, also contributed to these results. On the expense side, personnel expenses increased by approximately JPY 32 billion for the entire group, and JR maintenance expenses rose by approximately JPY 21 billion. In the retail and services, and real estate and hotels segments, the cost of sales also increased in line with the growth in revenue.
The increase in other expenses includes higher depreciation and amortization, as well as taxes and public charges resulting from our proactive capital expenditures centered on growth investments. This is the consolidated statements of income. I will provide further details on each segment later in this presentation. Non-operating expenses increased by JPY 6.4 billion year-on-year. This was primarily driven by an increase in interest expenses resulting from the recent rise in interest rates. The increase in extraordinary gains was attributable to an increase in gain on sale of investment securities. Operating revenue for the transportation segment saw strong growth, increasing by JPY 70.4 billion year-on-year to 104.9% of the previous year's level. Railway business passenger revenues, etc., increased by JPY 58.7 billion. In addition, sales of rolling stock to non-JR railway companies by J-TREC, Japan Transport Engineering Company, also rose compared to the previous year.
On the other hand, operating income saw only a marginal increase of JPY 0.3 billion year-on-year. This was due to factors such as rising personnel expenses and maintenance costs, which offset much of the revenue growth. Furthermore, due to the front-loading of maintenance costs and other factors, we expect fourth quarter profit to improve compared to the previous fiscal year. Consequently, we forecast full-year segment operating income to reach JPY 192 billion, a year-on-year increase of JPY 15.9 billion. The following are traffic volume and passenger revenues. Please refer to the total row at the bottom of the table. Commuter passes revenue reached 101.9% of the previous year's level, driven by factors such as the return-to-office trend. Non-commuter passes revenue also saw significant growth, reaching 104.8% year-on-year.
This strong performance in non-commuter revenue was primarily driven by high demand for the Shinkansen and conventional lines Kanto Area Network . The introduction of Green Cars on the Chuo Line Rapid Service has generated a positive impact of JPY 6.1 billion, and we project a full-year contribution of JPY 8 billion. While adoption was additionally somewhat slow, performance as of the end of the third quarter is currently trending slightly ahead of our plan. Here are the relevant indicators for the transportation segment. Passenger volume for the Tohoku, Jōetsu, and Hokuriku Shinkansen lines has remained strong compared to the previous year. In particular, volume for the Hokuriku Shinkansen has increased by more than 10% compared to pre-pandemic levels, fiscal year 2018. During the third quarter, we saw significant usage from leisure travelers visiting the Toyama and Kanazawa areas.
Regarding the Jōetsu Shinkansen, ridership in relatively short-distance sections such as between the Tokyo Metropolitan Area and Takasaki remained strong. We believe this is driven by robust demand from business travelers. Even when broken down by weekdays and holidays, the year-on-year performance for weekdays has outperformed that of holidays, both of the three-month period of the third quarter and on a cumulative fiscal year-to-date basis. Operating revenues in the retail and services segment increased by JPY 16.4 billion year-on-year. A significant portion of this growth was driven by the strong performance of our Ekinaka stores run by JR East Cross Station Co., Ltd. Advertising revenue is also showing growth. As shown in the middle of the slide, operating revenue from transportation advertising reached approximately 110% year-on-year, progressing in line with our plan.
While this remains at around 80% compared to the pre-pandemic levels, it is showing a steady and gradual recovery. Operating revenue for the real estate and hotels segment increased by JPY 20.8 billion year-on-year. JR East Building Co., Ltd. saw a significant increase in revenue due to factors such as the opening of Takanawa Gateway City, while Nippon Hotel Co., Ltd. also recorded revenue growth. Overall segment operating income decreased by JPY 10.2 billion, approximately JPY 5.5 billion. Roughly half of this amount was due to a decrease in profit from real estate sales, resulting from a difference in the specific properties sold compared to the previous year. The remaining half was driven by factors such as pre-opening expenses and depreciation, and amortization associated with Takanawa Gateway City. We expect Takanawa Gateway City to become profitable starting in fiscal 2026.
Our shopping center, office, and hotel businesses are progressing in line with our plans. We are seeing steady growth, particularly at existing facilities, and we believe the operational and sales efforts at each location are translating effectively into revenue. Here are the relevant indicators for the real estate and hotels segment. Please look at our hotel revenue. In the first quarter, performance was strong as we successfully captured demand during the Easter holiday period. While there was a temporary dip in the second quarter due to the impact of earthquake warnings and rumors, we successfully offset that impact in the third quarter, with revenue reaching 107% year-on-year. Regarding travel restrictions from China, we did not see a significant impact during the third quarter.
We will continue to closely monitor trends heading into the fourth quarter, while also striving to attract travelers from other international markets to diversify our customer base. The office vacancy rate stands at 1.8%, which is a significant improvement compared to the end of the previous fiscal year. We're seeing improved performance across our existing portfolio by leveraging our competitive advantages, particularly our prime locations near stations and our relatively new properties. The other segments saw increases in both revenues and income, with operating income growth of 135.2% year-over-year, significantly outpacing operating revenue growth of 109.2% year-over-year. This was primarily due to a rebound from the previous fiscal year, during which we recorded costs associated with a partial withdrawal from wind power development.
Regarding the number of monthly uses of electronic money, performance for the three-month period of the third quarter was flat at 100% year-on-year, and the fiscal year-to-date cumulative total reached 102%. Overall, growth has been somewhat lacking in momentum. Inbound revenue from mobility services came to JPY 30.5 billion, a shortfall of approximately JPY 3 billion against the cumulative third-quarter plan of JPY 33.5 billion. Having already seen signs of a shortfall as of the second quarter, we were aiming for a recovery in the second half. However, the gap versus the plan widened further in the third quarter. Of the approximately JPY 3 billion shortfall, our analysis shows that about half was due to the impact of earthquake warnings and rumors. We attribute the remaining half to the fact that our own initiatives did not yield the expected results.
In particular, while we had been aiming for a recovery in demand from Taiwanese travelers, who have historically been a very significant customer segment for us, we have not yet been able to fully capture this demand. For the fourth quarter, we are focusing on strengthening our partnerships with OTAs, online travel agents, and enhancing our online advertising efforts. Inbound revenue for the lifestyle solutions segment reached JPY 37.8 billion, slightly exceeding our plan. Please refer to the slide for our consolidated balance sheets. This slide shows our consolidated interest-bearing debt, capital expenditures, and key indicators. The net interest-bearing debt balance stood at 103.8% compared to the end of the previous fiscal year. As average interest rates have been rising gradually, the rate for total interest-bearing debt is currently 1.71%. We project consolidated capital expenditures of JPY 907 billion for the current fiscal year.
These investments are progressing steadily, centered on growth investments in lifestyle solutions, including projects such as Takanawa Gateway City and Oimachi Tracks. Please refer to the other key indicators for your information. Regarding our cross-shareholdings, while the slide lists our divestment results for the first half, totaling five issues and JPY 27.6 billion, we have also proceeded with further sales during the third quarter.