In 1943, during the Second World War, the Keihan Electric Railway and Hanshin Electric Express Railway were merged into a single company called the Keihanshin Express Railway (which was renamed the Hankyu Corporation in 1973).
戦中の1943年には京阪電気鉄道と阪神急行電鉄が合併し、京阪神急行電鉄（阪急、1973年に阪急電鉄と改称）となった。