Central Japan Railway Company (9022) investor relations material

Executive summary

• FY2026 consolidated operating revenues rose 9.5% year-over-year to ¥2,006.2 billion, with net income attributable to owners of the parent up 20.6% to ¥552.9 billion.

• Comprehensive income grew 33.5% year-over-year to ¥620.5 billion.

• Passenger volume and transportation revenues for the Tokaido Shinkansen consistently exceeded FY2024 levels, even after the Expo.

• FY2027 is forecast to see decreases in both revenues and income, with consolidated operating revenues expected to decline 0.7% and net income by 19.1% year-over-year.

• Board resolved to repurchase up to 6.5 million shares (¥20 billion max) and cancel all repurchased shares by August 31, 2026.

Financial highlights

• FY2026 consolidated operating income increased 18.1% year-over-year to ¥830.2 billion.

• Ordinary income rose 20.3% year-over-year to ¥780.9 billion.

• Net cash provided by operating activities was ¥748.2 billion, while investing activities used ¥621.4 billion.

• Capital investment for FY2026 was ¥609.0 billion (consolidated), up ¥94.8 billion from FY2025.

• Cash and cash equivalents at year-end FY2026 were ¥370.6 billion.

Outlook and guidance

• FY2027 consolidated operating revenues are forecast at ¥1,993.0 billion, down 0.7% year-over-year.

• Operating income is projected to decrease 15.4% to ¥702.0 billion, with net income attributable to owners of the parent at ¥447.0 billion.

• Net income per share forecasted at ¥467.98 for fiscal 2027, not reflecting the impact of share repurchase.

• Transportation revenues for FY2026 are assumed to be 98% of FY2025, reflecting the absence of the Expo effect.