The founder, Ichizo KOBAYASHI, made efforts to develop the areas along the railway line in order to stabilize the management, and introduced multiple businesses such as land sales in lots, developing the Takarazuka New Hot Spring and creating the Takarazuka Shokatai (Takarazuka Chorus Group, which later became the Shojo Kageki-dan (Girls' Operetta Company), the current Takarazuka Revue Company).
創業者の小林一三は経営安定のため沿線開発に力を入れ、住宅地分譲、宝塚新温泉、宝塚唱歌隊（後の少女歌劇団、現在の宝塚歌劇団）などの事業を多角的に展開した。