[TRANSLATION]

April 26, 2012
To Whom It May Concern
Name of Company: Central Japan Railway Company
Name of Representative: Yoshiomi Yamada,President and Representative Director(Code: 9022, First Sections of the TSE, OSE and NSE)
Contact Person: Katsumi Miyazawa,
Executive Director and General Manager of the Public Relations Department(Telephone No.: +81-52-564-2549)

Notice of Implementation of Stock Split, Adoption of Share Unit System and PartialAmendment to the Articles of Incorporation

In April, 2012, the securities listing regulations, etc. of the securities exchanges across thecountry were amended, whereby listed companies whose number of shares constituting one
unit are other than 100 shares or 1,000 shares are obligated to set their number of sharesconstituting one unit as 100 shares. Accordingly, Central Japan Railway Company (the“Company”) announces that its Board of Directors has resolved, at the meeting of the Board ofDirectors held on April 26, 2012 (Thursday), to implement a stock split and adopt the share unit
system, as detailed below.
The implementation of the stock split and the adoption of the share unit system areconditional on the approval of the proposed amendments to the Articles of Incorporation at the25th ordinary general meeting of shareholders of the Company scheduled to be held in June
2012.

1.

Outline of Implementation of Stock Split and Adoption of the Share Unit System
The Company will adopt the share unit system, and at the same time, split 1 share into 100
shares.
There will be no substantial change to the investment unit, in association with theimplementation of the stock split and adoption of the share unit system.
2.
(1)

Stock Split
Method of Split
With September 30, 2012 (Sunday) as the record date, the Company will split the sharesof the common stock owned by the shareholders recorded on the final register of shareholders
as of the said date, in the proportion of 100 shares for 1 share.
(2)

Number of Shares Increased through Stock Split
The number of shares increased through the stock split shall be the final total number ofissued shares as of September 30, 2012 (Sunday), multiplied by 99; e.g., if calculated based on
the total number of issued shares as of May 7, 2012 (Monday) (i.e., 2,060,000 shares)(i) Total number of issued shares before stock split
2,060,000 shares

(ii) Number of shares increased through stock split(iii) Total number of issued shares after stock split(iv) Total number of authorized shares after stock split

203,940,000 shares
206,000,000 shares
824,000,000 shares(Reference) While the total number of authorized shares is 8,960,000 shares as of April 26,2012 (Thursday), because the retirement of 90,000 shares of treasury stock was conducted
as of May 11, 2009 (Monday), and the retirement of 90,000 shares of treasury stock isscheduled to be conducted as of May 7, 2012 (Monday), the total number of issued shares
as of May 7, 2012 (Monday) is scheduled to be 2,060,000 shares. Therefore, whencalculated pursuant to the provision of Article 113, Paragraph (3) of the Companies Act,
based on such total number of issued shares, the maximum total number of authorizedshares after the stock split is 824,000,000 shares.
(3)

3.
(1)

Schedule for Stock Split(i) Date of Public Notice of Record Date(ii) Record Date(iii) Effective Date

September 13, 2012 (Thursday)
September 30, 2012 (Sunday)
October 1, 2012 (Monday)

Adoption of Share Unit SystemNumber of shares constituting one unit to be newly establishedThe share unit system shall be adopted upon the effective date of “2. Stock Split,” and thenumber of shares constituting one unit shall be 100 shares.

(2)

Schedule for New Establishment
Effective Date
October 1, 2012 (Monday)(Reference) As of September 26, 2012 (Wednesday), the trading unit for the shares of theCompany at securities exchanges in Japan will be changed from 1 share to 100 shares.
4.

(1)

(2)

Partial Amendment to the Articles of Incorporation(The provisions set forth below are the proposed amendments to the Articles ofIncorporation)
Reason for Amendments to the Articles of Incorporation(i) In association with the implementation of the stock split and adoption of the shareunit system, Article 6 (Total Number of Authorized Shares) shall be amended, andArticle 7 (Number of Shares constituting One Unit), Article 8 (Rights as to Shares
Less than One Unit), and Article 9 (Demand for Sale of Shares Less than One Unit),
shall be newly established.
(ii) While the article numbers shall be moved down in association with the establishmentof the provisions, with respect to Article 27 (Resolution for Election of CorporateAuditors), the quoted article numbers shall be amended in association with themoving down of the article numbers.
(iii) In order to prescribe the effective date for the amendments to Article 6 and Article 27,
and the new establishment of Articles 7 through 9, and the moving down of thearticle numbers in association therewith, Article 1 and Article 2 of theSupplementary Provisions shall be newly established.
Details of the Amendments to the Articles of Incorporation
Details of the amendments are set forth in the exhibit attached hereto.

(3)Schedule
All of the amendments described under (1) (i) through (iii) are scheduled to be brought as
the proposed amendments to the Articles of Incorporation before the 25th ordinary general
meeting of shareholders scheduled to be held in June 2012. The proposed amendments to theArticles of Incorporation brought before the said general meeting of shareholders shall bedecided, together with the other proposals for the general meeting of shareholders, at themeeting of the Board of Directors scheduled to be held in the middle of May 2012.
October 1, 2012 (Monday)

Amendments to the Articles of Incorporation
become effective.

5.

Other
With respect to the special benefits for shareholders, while “special benefit discounttickets for shareholders” are issued once a year to the shareholders recorded on the final registerof shareholders as of March 31 every year in accordance with the number of shares owned bythem, upon the effective date of “2. Stock Split,” the basis of issuance shall be changed as statedbelow.
For the avoidance of doubt, there is not a substantial change to the basis of issuance.
Current Status
Number of Shares Owned
Number of Issued Tickets
1 share or more but not more than 10 shares
1 ticket per share
More than 10 shares but not more than 100 shares 10 tickets + 1 ticket for every 2 sharesin excess of 10 shares
More than 100 shares but less than 200 shares
55 tickets + 1 ticket for every 3 sharesof the shares in excess of 100 shares
200 shares or more but less than 500 shares
100 tickets
500 shares or more but less than 1,000 shares
250 tickets
1,000 shares or more
500 tickets

After Amendment
Number of Shares Owned
100 shares or more but not more than 1,000shares
More than 1,000 shares but not more than 10,000
sharesMore than 10,000 shares but less than 20,000
shares
20,000 shares or more but less than 50,000 shares
50,000 shares or more but less than 100,000
shares100,000 shares or more

Number of Issued Tickets
1 ticket for every 100 shares
10 tickets + 1 ticket for every 200
shares in excess of 1,000 shares
55 tickets + 1 ticket for every 300
shares in excess of 10,000 shares
100 tickets
250 tickets
500 tickets
End of Document

[Exhibit](Changes have been denoted by underlining.)
Before Amendment
After Amendment
Article 6. (Total Number of Authorized
Article 6. (Total Number of AuthorizedShares)
Shares)
The total number of shares authorized to The total number of shares authorized tobe issued by the Company shall be eight be issued by the Company shall be eight
million nine hundred sixty thousand hundred
twentyfour
million(8,960,000) shares.
(824,000,000) shares.
(Newly established.)
Article 7. (Number of Shares constituting
One Unit)
The number of shares constituting one
unit of the Company shall be one hundred(100) shares.
(Newly established.)
Article 8. (Rights as to Shares Less thanOne Unit)
The Company’s shareholders cannot
exercise any rights other than the rights
listed below with respect to the shares lessthan one unit.
(1) The rights set forth in each of theitems of Article 189, Paragraph (2) of theCompanies Act(2) The right to demand as set forth in
Article 166, Paragraph (1) of theCompanies Act(3) The right to be allotted the shares forsubscription and the share options forsubscription in accordance with thenumber of shares shareholders hold.
(4) The right to demand as set forth in thefollowing Article.
(Newly established.)Article 9. (Demand for Sale of Shares Less
than One Unit)
The Company’s shareholders may
demand that the Company sell to theshareholders such number of shares
which, together with the number of sharesless than one unit held by shareholder will
constitute one unit.

Article 7. through Article 23.
(Description omitted.)
Article 24. (Resolution for Election ofCorporate Auditors)
The provision of the first paragraph ofArticle 18 shall be applied mutatis
mutandis to the election of Corporate
Auditors.
Article 25. through Article 31.
(Description omitted.)(Newly established.)(Newly established.)(Newly established.)

Article 10. through Article 26.
(Unchanged.)
Article 27. (Resolution for Election ofCorporate Auditors)
The provision of the first paragraph ofArticle 21 shall be applied mutatis
mutandis to the election of CorporateAuditors.
Article 28. through Article 34.
(Unchanged.)
Supplementary Provisions
Article 1.
Effective date of the amendments toArticle 6 and Article 27, and the new
establishment of Articles 7 throughArticle 9, and the moving down of thearticle numbers in association therewith
shall be October 1, 2012.
Article 2.
The preceding article and this article shallbe deleted on October 1, 2012.