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Presentation materials for financial results9022Central Japan Railway CompanyTransportation and Logistics

Materials for the Financial Results Briefing for the Fiscal Year Ending March 2026

In FY2025, both consolidated and non-consolidated results increased in revenue and profit, driven mainly by higher transportation revenue centered on the Tokaido Shinkansen. In FY2026, however, both consolidated and non-consolidated results are expected to decline in revenue and profit, reflecting the backlash from the Osaka-Kansai Expo and higher prices and labor costs.

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Presentation materials for financial resultsFiscal year ending March 20268 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales20,062 Hundreds of millions of yen+9.5%
Operating profit8,301 Hundreds of millions of yen+18.1%
Ordinary income7,809 Hundreds of millions of yen+20.3%
Net income5,528 Hundreds of millions of yen+20.6%
Full-year earnings forecast
Consolidated
Operating revenue
19,930 Hundreds of millions of yen
Operating profit
7,020 Hundreds of millions of yen
Ordinary income
6,530 Hundreds of millions of yen
Profit attributable to owners of the parent
4,470 Hundreds of millions of yen
Standalone
Operating revenue
16,310 Hundreds of millions of yen
Transportation revenue
15,540 Hundreds of millions of yen
Operating profit
6,590 Hundreds of millions of yen
Ordinary income
6,060 Hundreds of millions of yen
Net income for the current fiscal year
4,210 Hundreds of millions of yen
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Consolidated operating revenue
  • Higher transport revenue
  • Increase in sales at station stores
  • Higher rental income from commercial facilities at stations
  • Increase in sales in the railway rolling stock and other manufacturing and hotel businesses
FY2026 cost impact
  • Increase in repair expenses due to higher labor ratesApproximately ¥26 billion
  • Increase in personnel expenses due to wage increasesApproximately ¥7 billion
  • Increase in operating expenses due to wage increases at contractors and other factorsApproximately ¥5.0 billion
  • Increase in repair expenses due to higher material costsApproximately ¥2 billion
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • FY2026 transportation revenue
    Assumptions98% of FY2025, ¥1,554 billion
  • First-half transportation revenue
    Assumptions96% of FY2025 (1% growth year on year after excluding the Expo effect)
  • Second-half transportation revenue
    Assumptions100% of FY2025 (1% growth year on year after excluding the Expo effect)
New initiatives
  • Timetable revision allowing up to 13 Nozomi services per hour on the Tokaido Shinkansen during certain time periods
  • Introduction of premium-class seating (private-room type) on 1 October 2026
  • Introduction of premium-class seating (semi-private-room type) during FY2027
  • Planned enhancement of Green Car services during FY2027
  • Sales promotion campaign targeting foreign visitors to Japan
  • One-person operation of 315 series four-car trains
  • Verification of automated rolling stock exterior inspections
  • Identification of 7 materiality items
  • Preparatory construction in the Shizuoka section
Key KPIsA metric the company considers important as a management benchmark.
  • Tokaido Shinkansen passenger traffic at the Tokyo terminal cross-section109% year-to-date
    Year on year against the same period last year109%
  • Transportation revenue (main lines and conventional lines)111%
    Year on year against the same period last year111%
  • Inbound revenue (estimated)Approximately 1,560
  • Revenue uplift from new demandSeveral tens of billions of yen
    Year on year against the same period last yearSeveral tens of billions of yen in FY2024
  • Usage by EX corporate members (major 200 companies)Upward trend
Segment results
Transportation
Sales
16,539 Hundreds of millions of yen
Sales YoY_pct10.1
Operating profit
7,674 Hundreds of millions of yen
Operating profit year-on-year_pct18.1
Distribution Business
Sales
1,830 Hundreds of millions of yen
Sales YoY_pct6.8
Operating profit
158 Hundreds of millions of yen
Operating profit year-on-year_pct1.3
Real Estate Business
Sales
957 Hundreds of millions of yen
Sales YoY_pct10.4
Operating profit
252 Hundreds of millions of yen
Operating profit year-on-year_pct10.5
Other
Sales
2,919 Hundreds of millions of yen
Sales YoY_pct7.1
Operating profit
244 Hundreds of millions of yen
Operating profit year-on-year_pct57
Capital expenditures
Consolidated
6,090 Hundreds of millions of yen
Standalone
5,793 Hundreds of millions of yen
Annual Dividend
Annual
¥32 per share
Interim
¥16 per share
End of period
¥16 per share
Acquisition of treasury shares
¥20 billion
Contents of this document
ItemDetails
Document typePresentation materials for financial results
Fiscal Period CoveredFiscal year ending March 2026
Net Sales20,062 Hundreds of millions of yen (YoY +9.5%)
Operating profit8,301 Hundreds of millions of yen (YoY +18.1%)
Ordinary income7,809 Hundreds of millions of yen (YoY +20.3%)
Net income5,528 Hundreds of millions of yen (YoY +20.6%)
Full-year earnings forecastConsolidated Operating revenue 19,930 Hundreds of millions of yen / Operating profit 7,020 Hundreds of millions of yen / Ordinary income 6,530 Hundreds of millions of yen / Profit attributable to owners of the parent 4,470 Hundreds of millions of yen / Standalone Operating revenue 16,310 Hundreds of millions of yen / Transportation revenue 15,540 Hundreds of millions of yen / Operating profit 6,590 Hundreds of millions of yen / Ordinary income 6,060 Hundreds of millions of yen / Net income for the current fiscal year 4,210 Hundreds of millions of yen
Segment resultsTransportation Sales 16,539 Hundreds of millions of yen / Sales YoY_pct 10.1 / Operating profit 7,674 Hundreds of millions of yen / Operating profit year-on-year_pct 18.1 / Distribution Business Sales 1,830 Hundreds of millions of yen / Sales YoY_pct 6.8 / Operating profit 158 Hundreds of millions of yen / Operating profit year-on-year_pct 1.3 / Real Estate Business Sales 957 Hundreds of millions of yen / Sales YoY_pct 10.4 / Operating profit 252 Hundreds of millions of yen / Operating profit year-on-year_pct 10.5 / Other Sales 2,919 Hundreds of millions of yen / Sales YoY_pct 7.1 / Operating profit 244 Hundreds of millions of yen / Operating profit year-on-year_pct 57
Breakdown of Factors Affecting the ChangeConsolidated operating revenue Higher transport revenue, Increase in sales at station stores, Higher rental income from commercial facilities at stations, Increase in sales in the railway rolling stock and other manufacturing and hotel businesses / FY2026 cost impact Factors Increase in repair expenses due to higher labor rates / Amount Approximately ¥26 billion, Factors Increase in personnel expenses due to wage increases / Amount Approximately ¥7 billion, Factors Increase in operating expenses due to wage increases at contractors and other factors / Amount Approximately ¥5.0 billion, Factors Increase in repair expenses due to higher material costs / Amount Approximately ¥2 billion
Key KPIsIndicator Tokaido Shinkansen passenger traffic at the Tokyo terminal cross-section / Value 109% year-to-date / Year on year against the same period last year 109%, Indicator Transportation revenue (main lines and conventional lines) / Value 111% / Year on year against the same period last year 111%, Indicator Inbound revenue (estimated) / Value Approximately 1,560 / Year on year against the same period last year Not disclosed, Indicator Revenue uplift from new demand / Value Several tens of billions of yen / Year on year against the same period last year Several tens of billions of yen in FY2024, Indicator Usage by EX corporate members (major 200 companies) / Value Upward trend / Year on year against the same period last year Not disclosed
Assumptions Underlying the Business OutlookItem FY2026 transportation revenue / Assumptions 98% of FY2025, ¥1,554 billion, Item First-half transportation revenue / Assumptions 96% of FY2025 (1% growth year on year after excluding the Expo effect), Item Second-half transportation revenue / Assumptions 100% of FY2025 (1% growth year on year after excluding the Expo effect)
Annual DividendAnnual ¥32 per share / Interim ¥16 per share / End of period ¥16 per share
Acquisition of treasury sharesAmount ¥20 billion / Number of Shares Not disclosed / Period Not disclosed
Capital expendituresConsolidated 6,090 Hundreds of millions of yen / Standalone 5,793 Hundreds of millions of yen
New initiativesTimetable revision allowing up to 13 Nozomi services per hour on the Tokaido Shinkansen during certain time periods, Introduction of premium-class seating (private-room type) on 1 October 2026, Introduction of premium-class seating (semi-private-room type) during FY2027, Planned enhancement of Green Car services during FY2027, Sales promotion campaign targeting foreign visitors to Japan, One-person operation of 315 series four-car trains, Verification of automated rolling stock exterior inspections, Identification of 7 materiality items, Preparatory construction in the Shizuoka section
Items this document does not state (16)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsPayout ratioOrders received and order backlogMarket Size / ShareKey points of the Q&A

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

The factors behind FY2025 results were higher transportation revenue, increased sales at station stores, higher rental income from station commercial facilities, and increased sales in the railway rolling stock and other manufacturing and hotel businesses. The forecast for lower profit in FY2026 reflects the reversal of the revenue uplift from the Osaka-Kansai Expo and an approximately ¥40 billion increase in costs due to rising prices and labor costs.

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Materials for the Financial Results Briefing for the Fiscal Year Ending March 2026 | Central Japan Railway Company (9022) timely disclosure | Komori