The is an electric multiple unit (EMU) train type operated by the private railway operator Iyo Railway (Iyotetsu) in Matsuyama, Ehime, Japan, since 1987.
The trains were converted from former Keio 5000 series EMU cars between 1987 and 1994.
, the fleet consists of six three-car sets and two two-car sets, formed as follows. All cars have a driving cab at one end.
The trains were purchased from Keio Corporation and introduced between 1987 and 1994. The motored cars were mounted on former Tobu Railway and Odakyu EMU bogies to match the Iyotetsu track gauge of , as the trains originally ran on Keio gauge. Three-car set 725 was the first Iyotetsu EMU to be repainted in the new all-over orange Iyotetsu livery, in August 2015.
On 14 November 2023, Iyo Railway announced that the 700 series is scheduled to be replaced by the 7000 series starting from 2025. As of November 2023, only 19 vehicles remain registered in the fleet.
In September 2015, two 700 series cars were sold to the Choshi Electric Railway in Chiba Prefecture for 1.3 million yen.