[Translation for reference only]
ENGLISH TRANSLATION OF JAPANESE-LANGUAGE DOCUMENT
This is an English translation of the original Japanese-language document and is provided for convenience only. In allcases, the Japanese-language original shall prevail.

(Securities code: 9006)
June 7, 2021
To our shareholders
Kazuyuki Harada
President

Keikyu Corporation
1-2-8, Takashima, Nishi-ku, Yokohama-shi,
Kanagawa, JAPAN

Notice of the 100th Annual General Meeting of Shareholders
We are pleased to announce the 100th Annual General Meeting of Shareholders of Keikyu Corporation(hereinafter “the Company”), which will be held as described below.
Moreover, to prevent the spread of the novel coronavirus disease (COVID-19), we ask that you exercise
your voting rights in advance by mail or via the Internet, etc., no later than 5:45 p.m. on Monday, June 28,
2021 (Japan Standard Time), and refrain from attending the meeting in person. Please see page 2 for
information on how to exercise your voting rights.
1. Date and Time: Tuesday, June 29, 2021, at 10:00 a.m. (Japan Standard Time)
2. Venue:

Shintoshi Hall, 9th floor, Yokohama Shintoshi BLDG (SOGO YOKOHAMA)
2-18-1, Takashima, Nishi-ku, Yokohama-shi, Kanagawa, JAPAN3. Purpose of the Meeting
Matters to be reported:
1. Business Report, Consolidated Financial Statements and Audit Reports for the Consolidated
Financial Statements by the Accounting Auditor and the Audit & Supervisory Board, for the 100th
Fiscal Year (from April 1, 2020 to March 31, 2021)
2. Non-consolidated Financial Statements for the 100th Fiscal Year (from April 1, 2020 to March 31,
2021)
Matters to be resolved:

1)

Proposal No. 1:

Appropriation of surplus

Proposal No. 2:

Election of nine (9) Directors

The Business Report audited by the Audit & Supervisory Board Members and the Consolidated
Financial Statements and the Non-consolidated Financial Statements audited by the Accounting
Auditor and the Audit & Supervisory Board Members include, in addition to each statement attachedto this notice, major business activities in the Business Report, major business locations, etc., thestatus of employees, the status of the Accounting Auditor, the frameworks and policies of theCompany, the Consolidated Statement of Changes in Equity, the Notes to the Consolidated Financial
Statements, the Non-consolidated Statement of Changes in Equity and the Notes to the Nonconsolidated Financial Statements that have been posted on the Company’s website(https://www.keikyu.co.jp/). Pursuant to the relevant laws and regulations and Article 15 of theCompany’s Articles of Incorporation, major business activities in the Business Report, major businesslocations, etc., the status of employees, the status of the Accounting Auditor, the frameworks andpolicies of the Company, the Consolidated Statement of Changes in Equity, the Notes to theConsolidated Financial Statements, the Non-consolidated Statement of Changes in Equity and theNotes to the Non-consolidated Financial Statements are not attached to this notice.

-1-

2)

Please note that any modifications to the Reference Documents for the General Meeting of
Shareholders, the Business Report, the Consolidated Financial Statements and the Non-consolidated
Financial Statements shall be posted on the Company’s website. (https://www.keikyu.co.jp/)

Exercising Voting Rights
Please be noted that the following conditions will apply to the cases of exercising voting rights using avoting form or via the Internet.
1. If you have exercised your voting rights more than once via the Internet, the last exercise will bedeemed valid.
2. If you have exercised your voting rights both by voting form and via the Internet, the one arriving
latest will be deemed valid.
3. If the results of exercise both by voting form and via the Internet happen to arrive on the same day,the one exercised via the Internet will be deemed valid.

-2-Reference Documents for the General Meeting of Shareholders
Proposals and Reference Documents
Proposal No. 1: Appropriation of surplus
The Company regards the appropriate return of profits to shareholders as one of the most importantmanagement priorities. The Company’s policy on distribution of profits is to maintain stable dividend
payments, taking operating performance and financial position into consideration.
Regrettably no interim dividend was paid for the current fiscal year due to the net loss recorded as a resultof the impact of COVID-19. For the year-end dividend, although the operating performance wasdisappointing with the recording of a net loss, we propose to pay a year-end dividend as follows because
the Company would like to continue providing dividends to shareholders, taking into consideration the
Company’s financial position.
Items on year-end dividend
1. Items on allocation of dividend property to shareholders and its total amount¥5 per the Company’s common share
Total: ¥1,377,029,000
2. Effective date of dividends from surplus
June 30, 2021

-3-

Proposal No. 2: Election of nine (9) Directors
The terms of office of all twelve (12) Directors will expire at the conclusion of this General Meeting of
Shareholders. Accordingly, we propose that nine (9) Directors be elected.
The candidates for Directors are as follows:
These candidates have been approved by the Board of Directors upon consultation with the Nomination
and Remuneration Advisory Committees whose majority is comprised of Independent Outside Directors.
No.

Name of Directors

Current Position in the Company

Number of Boardof Directors
Meetings Attended

1

Reappointment Kazuyuki Harada

Male

President, Representative Director
President and Executive Officer

14/14

2

Reappointment Takashi Michihira

Male

Director, Senior Managing Executive
Officer

14/14

3

Reappointment Toshiaki Honda

Male

Director, Senior Managing Executive
Officer

14/14

4Reappointment Kazuo Urabe

Male

Director, Managing Executive
Officer

14/14

5

Reappointment Yukihiro Kawamata

Male

Director, Managing Executive
Officer

14/14

6Reappointment Kenji Sato

Male

Director, Executive Officer

13/14

7

Reappointment
Outside
Yoshinori Terajima
Independent

Male

Director

14/14

8

Reappointment
OutsideTamaki Kakizaki
Independent

FemaleDirector

10/10

9

New
OutsideIndependent

Female––Notes:

Sawako Nohara

1. The number of Board of Directors meetings attended for Ms. Tamaki Kakizaki considers only the Board of
Directors meetings held after her assumption as Director on June 26, 2020.
2. The Company has entered into a directors and officers liability insurance policy as provided for in Article 4303, paragraph 1 of the Companies Act with an insurance company. Candidates for reelection are insured under
the policy. Each of the candidates including a new candidate will be an insured under the policy if they areelected. For details of the insurance policy, please refer to page 36 of the Business Report, and the Company
plans to renew the policy after this General Meeting of Shareholders.

-4-

No.

1
Reappointment

Male

No.

2
Reappointment

Male

Brief Personal Profile, Position and Responsibility in the Company, andSignificant Concurrent Positions
Apr. 1976 Joined the Company
Kazuyuki Harada Jun. 2007 Director, the Company
Jun. 2010 Executive Director, the Company
Date of birthJun. 2011 Senior Executive Director, the Company
January 22, 1954 (67 years old) Jun. 2013 President, the Company (present)
Tenure as Director
Jun. 2013 Representative Director, the Company (present)
Jun. 2013 In charge of Inquiry and Auditing Group Operating
14 years (At the conclusion of
Department, the Company (present)
this General Meeting ofJun. 2019 President and Executive Officer, the Company (present)
Shareholders)Number of Board of Directors (Significant concurrent positions)
Outside Director, Japan Post Insurance Co., Ltd.
Meetings Attended
Outside Director, Japan Airport Terminal Co., Ltd.
14/14
Outside Director, NKB Inc.
Number of the Company’s
Outside Director, Yokohama Shintoshi Center Corporation
shares owned[Reasons for nominating the candidate for Director]
Mr. Kazuyuki Harada has been engaged primarily in railway business
51,500 Sharesand human resources and obtained abundant experience and deep
insight in these areas. He has served as President of the Company
responsible for the business management of the Group since June 2013.
The Company considers that he has properly performed his duties indecision-making on important business matters, supervising businessexecution, etc. and hence, appointed him as a candidate for Director.
Name, etc. of Director

Brief Personal Profile, Position and Responsibility in the Company, andSignificant Concurrent Positions
Apr. 1982 Joined the Company
Takashi Michihira Jun. 2011 Director, the Company
Jun. 2015 Executive Director, the Company
Date of birthJun. 2015 Senior General Manager, Railway Headquarters, theApril 10, 1958 (63 years old)
Company (present)
Jun. 2018 Senior Executive Director, the Company
Tenure as Director
Jun. 2018 In charge of Public Relations and Press Department, the10 years (At the conclusion ofCompany (present)
this General Meeting ofJun. 2019 Director, Senior Managing Executive Officer, theShareholders)Company (present)
Number of Board of Directors(Significant concurrent positions)Meetings Attended
Outside Director, Yokohama Minatomirai Railway Company
14/14
Outside Director, Tokai Kisen Co., Ltd.
Number of the Company’s[Reasons for nominating the candidate for Director]
Mr. Takashi Michihira has been engaged primarily in railway businessshares owned
and obtained abundant experience and deep insight in this area. He has
19,000 Shares
served as Director of the Company since June 2011. The Company
considers that he has properly performed his duties in decision-making
on important business matters, supervising business execution, etc. andhence, appointed him as a candidate for Director.
Name, etc. of Director

-5-

No.

3
Reappointment

Male

No.

4
Reappointment

Male

No.

5
Reappointment

Male

Brief Personal Profile, Position and Responsibility in the Company, andSignificant Concurrent Positions
Apr. 1982 Joined the Company
Toshiaki Honda
Jun. 2011 Director, the Company
Jun. 2016 Executive Director, the Company
Date of birthJun. 2017 Office Manager, Business Creation Department, theJuly 12, 1958 (62 years old)
Company (present)
Apr. 2018 President, R-Bank Co., Ltd. (resigned in June 2020)
Tenure as Director
Jun. 2019 Director, Senior Managing Executive Officer, the Company
10 years (At the conclusion of(present)
this General Meeting ofJun. 2020 Senior General Manager, Development and Administration
Shareholders)of Facilities Headquarters, the Company (present)
Number of Board of Directors[Reasons for nominating the candidate for Director]
Meetings Attended
Mr. Toshiaki Honda has been engaged primarily in leisure services
14/14
business and development projects, and obtained abundant experience
Number of the Company’sand deep insight in these areas. He has served as Director of theCompany since June 2011. The Company considers that he has properly
shares owned
performed his duties in decision-making on important business matters,
21,200 Sharessupervising business execution, etc. and hence, appointed him as a
candidate for Director.
Name, etc. of Director

Brief Personal Profile, Position and Responsibility in the Company, andSignificant Concurrent Positions
Apr. 1984 Joined the Company
Kazuo Urabe
Jun. 2015
Director, the Company
Jun. 2015
In charge of Personnel Department, the Company (present)
Date of birthJun. 2019
Director, Managing Executive Officer, the Company
November 3, 1961 (59 years(present)
old)Jun. 2019
In charge of Accounts and Finance Department, theCompany (present)
Tenure as Director[Reasons for nominating the candidate for Director]
6 years (At the conclusion of
Mr. Kazuo Urabe has been engaged primarily in railway business,this General Meeting ofaccounting, human resources and general affairs and obtained abundant
Shareholders)experience and deep insight in these areas. He has served as Director of
Number of Board of Directors the Company since June 2015. The Company considers that he has
Meetings Attended
properly performed his duties in decision-making on important business
14/14
matters, supervising business execution, etc. and hence, appointed him
as a candidate for Director.
Number of the Company’s
shares owned
9,300 Shares
Name, etc. of Director

Brief Personal Profile, Position and Responsibility in the Company, andSignificant Concurrent Positions
Apr. 1986 Joined the Company
Yukihiro Kawamata Jun. 2016 Director, the Company
Jun. 2019 Director, Managing Executive Officer, the Company
Date of birth(present)
February 10, 1964 (57 years
Jun. 2019 Office Manager, Corporate Strategy Department, theCompany (present)
old)[Reasons for nominating the candidate for Director]
Tenure as Director
Mr. Yukihiro Kawamata has been engaged primarily in hotel business
5 years (At the conclusion ofand business management and obtained abundant experience and deep
this General Meeting of
insight in these areas. He has served as Director of the Company since
Shareholders)June 2016. The Company considers that he has properly performed his
Number of Board of Directors duties in decision-making on important business matters, supervisingbusiness execution, etc. and hence, appointed him as a candidate for
Meetings Attended
Director.
14/14
Name, etc. of Director

Number of the Company’s
shares owned
14,500 Shares

-6-

No.

6
Reappointment

Male

Brief Personal Profile, Position and Responsibility in the Company, andSignificant Concurrent Positions
Apr. 1984 Joined the Company
Kenji Sato
Jun. 2017 Director, the Company
Jun. 2017 President, Keikyu Store Co., Ltd. (present)
Date of birthJun. 2019 Director, Executive Officer, the Company (present)
January 24, 1962 (59 years old) (Significant concurrent positions)
President, Keikyu Store Co., Ltd.
Tenure as Director
4 years (At the conclusion of[Reasons for nominating the candidate for Director]
Mr. Kenji Sato has been engaged primarily in retailing business andthis General Meeting ofobtained abundant experience and deep insight in this area. He has
Shareholders)Number of Board of Directors served as Director of the Company since June 2017. The Company
considers that he has properly performed his duties in decision-making
Meetings Attended
on important business matters, supervising business execution, etc. and
13/14
hence, appointed him as a candidate for Director.
Number of the Company’s
shares owned
5,210 Shares
Name, etc. of Director

Brief Personal Profile, Position and Responsibility in the Company, andSignificant Concurrent Positions
Mar. 2017 Representative Director, Executive Vice President, Nippon
Yoshinori Terajima
Life Insurance Company
Mar. 2018 Director, Nippon Life Insurance Company (resigned in July
Date of birth
2018)
Apr. 2018 President, Representative Director, Taisay Building
January 2, 1959 (62 years old)Management Co., Ltd. (present)
Tenure as Outside Director
Jun. 2018 Director, the Company (present)
3 years (At the conclusion of(Significant concurrent positions)7
this General Meeting of
President, Representative Director, Taisay Building Management Co.,
Reappointment Shareholders)Ltd.
OutsideNumber of Board of Directors [Reasons for nominating the candidate for Outside Director andIndependent Meetings Attended
expected role]
Male
14/14
As a former manager of a major life insurance company, Mr. Yoshinori
Terajima has abundant experience and broad insight relating to fundNumber of the Company’s
management and investment projects, etc., and hence, the Company
shares owned
expects him to play a role in leveraging his experience and insight in
0 Shareshis duties in supervising business execution, etc. of the Company. The
Company considers that he has properly performed his duties as
Outside Director of the Company since June 2018 and hence, appointed
him as a candidate for Outside Director.
Notes: 1. Mr. Yoshinori Terajima satisfies the “Independence Criteria for Outside Officers” established by the Company(Please see pages 10 and 11). He was formerly serving as Director of Nippon Life Insurance Company, withwhich the Company has transactions such as borrowing of funds. However, because the amount of borrowing
accounts for less than 10% of the total amount of borrowing of the Company, the company does not fall under
the criteria, “a major lender of the Company” (a financial institution with which the Company was relying on,
with no substitute, for its funds procurement at the end of the most recent business year) as stipulated in the“Independence Criteria for Outside Officers.”
2. He is the President and Representative Director of Taisay Building Management Co., Ltd., which conducts
transactions (real estate leasing) that pertain to the category of the Company’s business.
3. The Company has designated him as an independent officer pursuant to the requirements of the Tokyo Stock
Exchange and has given notification thereof to the exchange.
4. The Company has entered into an agreement with him to limit liability for damages pursuant to Article 423,
paragraph 1 of the Companies Act, and the limit amount for liability for damages pursuant to the agreement is
the minimum liability amount prescribed by laws and regulations. If he is elected as proposed, the Company
plans to conclude a limited liability agreement of the same content with him.
No.

Name, etc. of Director-7-Brief Personal Profile, Position and Responsibility in the Company, andSignificant Concurrent Positions
Apr. 2008 Professor, Graduate School of Law, Toyo University
Tamaki Kakizaki(resigned in March 2012)
Apr. 2012 Professor, Graduate School of International Social
Date of birth
Sciences, YOKOHAMA National University (resigned in
March 2014)
January 16, 1961 (60 years old)
Apr. 2014 Professor, School of Law, Meiji University (present)
Tenure as Outside Director
1 year (At the conclusion of this Jun. 2016 Outside Director, Eisai Co., Ltd. (resigned in June 2020)
Jun. 2016 Outside Director, Mitsubishi Shokuhin Co., Ltd. (present)
General Meeting ofJun. 2017 Outside Auditor, Japan Airport Terminal Co., Ltd. (present)
Shareholders)Jun. 2019 Member of the Corporate Value Analysis Committee, theNumber of Board of Directors
Company (present)
Meetings Attended
Jun. 2020 Director, the Company (present)8
10/10(Significant concurrent positions)
Reappointment
Number of the Company’s
Professor, School of Law, Meiji University
OutsideOutside Auditor, Japan Airport Terminal Co., Ltd.
shares owned
Independent
Outside Director, Mitsubishi Shokuhin Co., Ltd.
0
SharesFemale[Reasons for nominating the candidate for Outside Director andexpected role]
Ms. Tamaki Kakizaki is a university professor specialized in the field ofinternal controls and internal audit and an outside officer of an airport
terminal building operation company, etc. She was an outside officer ofa major pharmaceutical company, and obtained abundant experienceand broad insight in these areas and hence, the Company expects her toplay a role in leveraging her experience and insight in her duties insupervising business execution, etc. of the Company. The Company
considers that she has properly performed her duties as Outside Directorof the Company since June 2020 and hence, appointed her as a
candidate for Outside Director.
Notes: 1. Ms. Tamaki Kakizaki satisfies the “Independence Criteria for Outside Officers” established by the Company(Please see pages 10 and 11).
2. The Company has designated her as an independent officer pursuant to the requirements of the Tokyo Stock
Exchange and has given notification thereof to the exchange.
3. The Company has entered into an agreement with her to limit liability for damages pursuant to Article 423,
paragraph 1 of the Companies Act, and the limit amount for liability for damages pursuant to the agreement is
the minimum liability amount prescribed by laws and regulations. If she is elected as proposed, the Company
plans to conclude a limited liability agreement of the same content with her.
4. Ms. Tamaki Kakizaki is scheduled to be elected as an outside director of The Akita Bank, Ltd. at its Annual
General Meeting of Shareholders to be held on June 25, 2021.
No.

Name, etc. of Director-8-Brief Personal Profile, Position and Responsibility in the Company, andSignificant Concurrent Positions
Dec. 2001 President, Representative Director, IPSe Marketing, Inc.
Sawako Nohara(present)
Jun. 2006 Outside Director, NEC Corporation (resigned in June 2012)
Date of birthOct. 2009 Project Professor, Graduate School of Media andGovernance, Keio University (resigned in September 2019)
January 16, 1958 (63 years old)
Jun. 2012 Outside Audit & Supervisory Board Member, Sompo Japan
Tenure as Outside Director
Insurance Inc. (resigned in June 2013)–
Number of Board of Directors Jun. 2013 Outside Director, NKSJ Holdings, Inc. (current Sompo
Holdings, Inc.) (present) (scheduled to resign in June 2021)
Meetings Attended
Jun. 2014 Outside Director, JAPAN POST BANK Co., Ltd. (resigned–
in June 2020)
Number of the Company’sJun. 2018 Outside Audit & Supervisory Board Member, Tokyo Gas
shares owned
Co., Ltd. (present) (scheduled to resign in June 2021)
0 SharesJun. 2019 Member of the Board (Outside), Daiichi Sankyo Company,
Limited (present)
Apr. 2020 Project Professor, Graduate School of Media andGovernance, Keio University (present)
9Jun. 2021 Outside Director, Tokyo Gas Co., Ltd. (scheduled toassume the position)
New(Significant concurrent positions)
OutsidePresident, Representative Director, IPSe Marketing, Inc.
Independent
Outside Director, Sompo Holdings, Inc. (scheduled to resign in June
Female2021)
Member of the Board (Outside), Daiichi Sankyo Company, Limited
Outside Audit & Supervisory Board Member, Tokyo Gas Co., Ltd.
(scheduled to resign in June 2021 and to assume the position of Outside
Director in the same month)
Project Professor, Graduate School of Media and Governance, Keio
University[Reasons for nominating the candidate for Outside Director andexpected role]
Ms. Sawako Nohara has abundant experience and broad insight asmanager of a company related to business and marketing strategies in
the IT business, as an outside officer of a major non-life insurancecompany, etc. and as an expert member of government committees. The
Company expects her to play a role in leveraging her experience andinsight in her duties in supervising business execution, etc. of theCompany, and hence, the Company judges her to be qualified to serve
as a Director of the Company and appointed her as a candidate for
Outside Director.
Notes: 1. Ms. Sawako Nohara satisfies the “Independence Criteria for Outside Officers” established by the Company(Please see pages 10 and 11).
2. If the election of Ms. Sawako Nohara is approved, the Company plans to designate her as an independent
officer pursuant to the requirements of the Tokyo Stock Exchange and give notification thereof to theexchange.
3. If the election of Ms. Sawako Nohara is approved, the Company plans to enter into an agreement with her tolimit liability for damages pursuant to Article 423, paragraph 1 of the Companies Act, and the limit amount for
liability for damages pursuant to this agreement is the minimum liability amount prescribed by laws andregulations.
No.

Name, etc. of Director-9-[Reference]
Independence Criteria for Outside Officers
Outside Directors or Outside Audit & Supervisory Board Members of the Company must not
fall under any of the following categories if they are to be considered independent.
1. An executing person of the Company and its group companies (hereinafter, collectively the“Company”)
2. A major shareholder of the Company, or an executing person of a company that is a major shareholderof the Company
3. A person who is a major lender of the Company, or an executing person of a company that is a major
lender partner
4. A person for whom the Company is a major trading partner or an executive officer of a company forwhich the Company is a major trading partner
5. A person who is a major trading partner of the Company or an executing person of a company which isa major trading partner of the Company
6. A person receiving donations or financial assistance in an amount exceeding a certain threshold fromthe Company, or a director or other executing person of a corporation, or group such as a union, etc.
receiving donations or financial assistance in an amount exceeding a certain threshold from theCompany
7. An attorney-at-law, certified accountant, tax accountant or consultant who receives money or otherproperty benefits in an amount exceeding a certain threshold from the Company other than director
remunerations
8. A person who belongs to a corporation, such as a law firm, audit corporation, tax accountant
corporation, or consulting firm; or a group, such as a union that receives money or other property
benefits in an amount exceeding a certain threshold from the Company
9. An executing person of another company with which the Company holds an Outside Director or an
Outside Audit & Supervisory Board Member mutual appointment relationship
10. A person who falls under the category described in Item 1 above for the past 10 years, or a person who
falls under the category described in any of the Items 2 to 9 above for the past 5 years
11. If a person with an important position falls under the category described in any of the Items 1 to 9
above, then the spouse or relative within the second degree of kinship of such person

Notes:
1.

The term “executing person” refers to an “executive director, executive officer, manager, or person or employee
equivalent to this.”2.

The term “major shareholder” in Item 2 means “a person (or a company) who holds 10% or more of the total voting
rights of the Company directly or indirectly at the end of the most recent business year.”3.

The term “a person (or a company) who is a major lender of the Company” in Item 3 means “a financial institution orother large creditor with which/whom the Company was relying on, with no substitute, for its funds procurement at theend of the most recent business year.”

4.

The term “a person (or a company) for whom/which the Company is a major trading partner” in Item 4 means a “person(or a company) who has received payments from the Company in an amount equivalent to 2% or more of theconsolidated annual net sales of that person (or company) in the latest business year.”

5.

The term “a person (or a company) who is a major trading partner of the Company” in Item 5 means a “person (or acompany) who has made payments to the Company in an amount equivalent to 2% or more of the consolidated annual
net sales of the Company in the latest business year.”- 10 -

6.

The term “a certain threshold” in Items 6 and 7 means “10 million yen per year.”

7.

The term “a certain threshold” in Item 8 means “2% of the total net sales of the corporation, or group such as a union in
the latest business year.”

8.

The term “mutual appointment relationship” in Item 9 means “a relationship where the executing person of theCompany in the latest business year is an outside director or an outside Audit & Supervisory Board Member of anothercompany and an executing person of that other company is an Outside Director or an Outside Audit & Supervisory
Board Member of the Company.”

9.

The term a “person with an important position” in Item 11 means “a person holding a position of general manager orhigher with authority equivalent to that of an executing person.”

10. Any matters not stated herein that may significantly affect the judgment of independence shall be managed inappropriate manner.

- 11 -

Consolidated Balance Sheet(As of March 31, 2021)
Item
AssetsAmountItem
Liabilities
Current assets
127,783
Current liabilities
Cash and deposits
57,600Notes and accounts payable - trade
Notes and accounts receivable - trade
9,752
Short-term borrowings
Merchandise and finished goods
2,277
Current portion of bonds payable
Land and buildings for sale in lots
47,072
Income taxes payable
Work in process
818
Advances received
Raw materials and supplies
345
Provision for bonuses
Other
10,040
Provision for bonuses for directors(and other officers)
Allowance for doubtful accounts(123)
Other provisions
Other
Non-current assets
801,270
Non-current liabilities
Property, plant and equipment
658,448
Bonds payable
Buildings and structures
334,133
Long-term borrowings
Deferred tax liabilities
Machinery, equipment and39,103
vehiclesProvision for retirement benefits for
directors (and other officers)Land
190,459
Construction in progress
86,452Retirement benefit liability
Other
8,299
Long-term deferred contribution for
construction
Intangible assets
7,197
Investments and other assets
135,625
Provision for expenses for
dismantling
Investment securities
75,428Long-term loans receivable
797
Other
Deferred tax assets
6,131
Total liabilities
Retirement benefit asset
30,099Net assets
Other
23,324
Shareholders’ equity
Allowance for doubtful accounts(154)
Share capital
Capital surplus
Retained earnings
Treasury shares
Accumulated other comprehensive
incomeValuation difference on available-forsale securities
Foreign currency translation
adjustment
Remeasurements of defined benefit
plans
Non-controlling interests
Total net assets
Total assets
929,053
Total liabilities and net assets
Note: The figures presented are rounded down to the nearest million yen.

- 12 -(Millions of yen)Amount202,245
25,180125,836
10,000
1,583
8,348
1,546
70
15
29,664
477,756
145,000
234,5112,936
414
11,076
63,618
4,575
15,622680,002229,788
43,73844,158142,729(839)
17,14011,975
28
5,136
2,122
249,051
929,053

Consolidated Statement of Income(From April 1, 2020 to March 31, 2021)(Millions of yen)
Item

AmountOperating revenue
Operating expenses
Operating expenses and cost of sales of transportation
Selling, general and administrative expenses
Operating loss
Non-operating income
Interest and dividend income
Share of profit of entities accounted for using equity method
Subsidy income
Other
Non-operating expenses
Interest expenses
Other
Ordinary loss
Extraordinary income
Contribution for construction
Compensation income
Reversal of provision for loss on disaster
Gain on sale of non-current assets
Other
Extraordinary losses
Impairment losses
Provision for expenses for dismantling
Loss on tax purpose reduction entry of non-current assets
Loss on retirement of non-current assets
Loss on temporary suspension of operations
Loss on valuation of investment securities
Compensation expenses
Other
Loss before income taxes
Income taxes - current
Income taxes - deferred
Loss
Loss attributable to non-controlling interests
Loss attributable to owners of parent
Note: The figures presented are rounded down to the nearest million yen.

- 13 -

234,964
217,096
36,288

686
289
945
1,039
4,113
583

2,577
2,001
290
185
10
9,510
4,494
2,577
873
311
91
60
26
1,957
(7,701)

253,384
18,420

2,961

4,697
20,156

5,065

17,94633,037(5,743)27,293
82
27,211

Non-consolidated Balance Sheet(As of March 31, 2021)
Item
AssetsAmountItem
Liabilities
Current assets
107,959
Current liabilities
Cash and deposits
47,314
Short-term borrowings
Railway fares receivables
810
Current portion of bonds payable
Accounts receivable
10,997
Accounts payable - other
Short-term loans receivable
4,050
Accrued expenses
Land and buildings for sale in lots
38,058
Income taxes payable
Prepaid expenses
3,550Inter-line fares received
Other current assets
3,176
Deposits received
Prepaid fares received
Advances received
Unearned revenue
Other provisions
Deposits received from subsidiaries
and associates
Other current liabilities
Non-current assets
733,403
Non-current liabilities
Non-current assets - railway
308,564
Bonds payableNon-current assets - incidental
147,575
Long-term borrowings
Non-current assets - affiliated21,969Provision for loss on business of
subsidiaries and associates
Construction in progress
90,194
Investments and other assets
165,099
Long-term deferred contribution for
construction
Shares of subsidiaries and
43,091
associates
Asset retirement obligations
Investment securities
59,309Provision for expenses for
dismantling
Long-term loans receivable
23,099Prepaid pension costs
20,583
Other non-current liabilities
Deferred tax assets
31
Total liabilities
Other
20,071
Net assets
Allowance for doubtful accounts(1,086)
Shareholders’ equity
Share capital
Capital surplus
Legal capital surplus
Other capital surplus
Retained earnings
Legal retained earnings
Other retained earnings
Reserve for tax purpose
reduction entry of non-current
assetsGeneral reserve
Retained earnings brought
forwardTreasury shares
Valuation and translation adjustments
Valuation difference on available-forsale securities
Total net assets
Total assets
841,363
Total liabilities and net assets
Note: The figures presented are rounded down to the nearest million yen.

- 14 -(Millions of yen)Amount248,594
125,836
10,00023,995
3,533
60
623
1,293
3,027
4,015
1,064
15
65,6889,440
457,018
145,000
234,511849
63,618
699
4,575
7,764
705,612
123,863
43,73840,363
17,861
22,502
40,572
6,665
33,907
13,4302,050
18,427(811)
11,886
11,886
135,750
841,363

Non-consolidated Statement of Income(From April 1, 2020 to March 31, 2021)(Millions of yen)
Item

AmountRailway:
Operating revenue
Operating expenses
Operating loss
Incidental:
Operating revenue
Operating expenses
Operating loss
Operating loss - all businesses
Non-operating income
Interest and dividend income
Other revenue
Non-operating expenses
Interest expenses
Other expenses
Ordinary loss
Extraordinary income
Contribution for construction
Compensation income
Gain on sale of non-current assets
Extraordinary losses
Impairment losses
Provision for expenses for dismantling
Loss on tax purpose reduction entry of non-current assets
Loss on retirement of non-current assets
Loss on temporary suspension of operations
Loss on valuation of investment securities
Compensation expenses
Loss before income taxes
Income taxes - current
Income taxes - deferred
Loss
Note: The figures presented are rounded down to the nearest million yen.

- 15 -

54,72867,043
12,31432,952
34,446
1,493
13,808
1,057
801
4,106
657

2,575
2,001
348
8,581
4,494
2,575
458
117
91
60

1,859

4,764
16,713

4,925

16,38028,168(44)(7,963)
20,160