Summary of Consolidated Financial Report for the Year Ended March 31, 2024〔under Japanese GAAP〕（Unaudited）
English translation from the original Japanese-language document.
Central Japan Railway Company is referred to as the "Company," and the Company and its consolidated subsidiaries are referred to as the "Companies."
April 30, 2024

Company Name
Stock Exchange Listings
Code Number
URL
Representative
Contact Person

Central Japan Railway Company
Tokyo and Nagoya
9022
https://jr-central.co.jp
Shunsuke Niwa, President and Representative Director
Koji Kumekawa, General Manager of the Public Relations Department(Tel +81-52-564-2549)
June 21, 2024
June 21, 2024
June 24, 2024
Attached
To be held (for institutional investors and analysts)

Expected Date of the Annual Shareholders' Meeting
Expected Date of Presentation of Annual Securities Reports
Expected Date of Dividend Payment Commencement
Supplementary Information
Briefing of Financial Results of Fiscal 2024

(Figures less than one million yen, except for per share information, have been rounded down.)
1. Results for Fiscal 2024 (Year ended March 31, 2024)(1) Consolidated financial results
Operating revenues

Fiscal 2024

Operating income

Net income attributableto owners of the parent

Ordinary income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

1,710,407

22.1

607,38162.2

546,94677.9

384,41175.2

1,400,285
374,503―
307,485―
219,417―
Fiscal 2023
49.7
Note 1. Comprehensive income :Fiscal 2024 444,665 million yen, 98.8%. Fiscal 2023 223,631 million yen, ―%.
2. Percentages for operating revenues, operating income, ordinary income, net income attributable to owners of the parent, and comprehensive
income represent the changes from the previous year.
Net income per share- basic
Yen
Fiscal 2024

390.66

Net income per share- diluted
Yen―

Operating income
to operating revenues

Ordinary income
to total assets

Return on net worth
%
9.7

%
5.6

%
35.5

3.2
Fiscal 2023―
6.0
222.99Note 1. Equity in earnings of affiliates : Fiscal 2024 566 million yen. Fiscal 2023 173 million yen.
2. The Company conducted a 5-for-1 stock split of its common stock, with an effective date of October 1, 2023. Net income per shareis adjusted to reflect the impact of the stock split as if the stock split had occurred at the beginning of the prior fiscal year.

26.7(2) Consolidated financial position
Total assets

Fiscal 2024

EquityEquity per share

Net worth ratio

Millions of yen

Millions of yen%

Yen

9,941,896

4,223,683

41.9

4,237.48

39.5
9,514,409
3,807,110
Fiscal 2023
Note 1. Net worth : Fiscal 2024 4,169,660 million yen. Fiscal 2023 3,759,255 million yen.
2. The Company conducted a 5-for-1 stock split of its common stock, with an effective date of October 1, 2023. Equity per shareis adjusted to reflect the impact of the stock split as if the stock split had occurred at the beginning of the prior fiscal year.

3,820.40(3) Consolidated cash flows
Net cash provided by operating
activities

Net cash used in investing
activities

Net cash used in financing
activities

Cash and cash equivalents,
end of the fiscal year

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Fiscal 2024

672,878(436,556)(125,127)

821,720

Fiscal 2023

486,706(175,036)(220,604)

710,526

2. Cash dividends
Cash dividends per share
1st Quarter 2nd Quarter 3rd Quarter
Yen

Yen

Year-end

Yen

Total dividends(Fiscal)

Total

Yen

Fiscal 2023

―

65.00

―

70.00

Fiscal 2024

―

70.00

―

15.00

Yen

Dividends onequity ratio(Consolidated)

Payout ratio(Consolidated)

Millions of yen%%

26,59512.1

0.7

28,5657.4

0.7

135.00
―

7.7
―
15.00
15.00
Fiscal 2025 (Forecast)
30.00
―
Note
The Company conducted a 5-for-1 stock split of its common stock, with an effective date of October 1, 2023. Dividends at or before
the end of the 2nd Quarter of the fiscal 2024 present the amount prior to the stock split.

3. Consolidated forecast for Fiscal 2025 (Year ending March 31, 2025)
Operating income

Operating revenues
Millions of yen%

Millions of yen

Net income attributableto owners of the parent

Ordinary income%

Millions of yen%

Millions of yen%

Net income per share- basic
Yen

1,740,000
545,000 (0.4)
381,000 (0.9)
Fiscal 2025
1.7
608,000
0.1
387.20
Note
Percentages for operating revenues, operating income, ordinary income, and net income attributable to owners of the parent represent the changes
from the previous year.

Notes to Consolidated Financial Information(1) Changes in scope of significant consolidated subsidiaries ：none(2) Changes in accounting policies, changes in accounting estimates and error correctionsⅰ) Changes in accounting policies due to revision of accounting standard :ⅱ) Other changes in accounting policies : noneⅲ) Changes in accounting estimates : noneⅳ) Error corrections : nonenone(3) Number of common shares issued and outstanding at the end of each yearⅰ) Number of shares outstanding at the end of the year
(Including treasury stocks)

Fiscal 2024

1,030,000,000 Fiscal 2023

ⅱ) Number of treasury stocks at the end of the year

Fiscal 2024

46,004,820 Fiscal 2023

ⅲ) Average number of shares outstanding for the year

Fiscal 2024

983,995,447 Fiscal 2023

sharesshares1,030,000,000

sharesshares46,004,260

sharesNoteshares983,995,743

The Company conducted a 5-for-1 stock split of its common stock, with an effective date of October 1, 2023. The number of common sharesissued and outstanding is adjusted to reflect the impact of the stock split as if the stock split had occurred at the beginning of the prior fiscal year.

(4) Consolidated Balance Sheet
Money held in trust for the Chuo Shinkansen construction and Long-term debt for the Chuo Shinkansen construction
The Company has received loans from the Japan Railway Construction, Transport and Technology Agency for promoting the constructionof the Chuo Shinkansen, and the money is placed in the trust fund to segregate it from other money.

(Reference) Summary of Nonconsolidated Financial Report
1. Results for Fiscal 2024 (Year ended March 31, 2024)(1) Nonconsolidated financial results
Operating revenues

Operating income

Millions of yen%

Ordinary income%

Fiscal 2024
1,417,382
24.0
566,304
63.5
504,58680.9
358,766
Fiscal 2023
1,143,393
57.5
346,371―
278,899―
201,924Note Percentages for operating revenues, operating income, ordinary income, and net income represent the changes from the previous year.

77.7―

Millions of yen%

Net income per share - diluted

Yen

Fiscal 2024%

Net income
Millions of yen

Net income per share - basic

Millions of yen

Yen

364.23―Fiscal 2023
205.00―Note
The Company conducted a 5-for-1 stock split of its common stock, with an effective date of October 1, 2023. Net income per shareis adjusted to reflect the impact of the stock split as if the stock split had occurred at the beginning of the prior fiscal year.
(2) Nonconsolidated financial position
Total assets
Fiscal 2024

EquityNet worth ratio

Equity per share

Millions of yen

Millions of yen%

Yen

9,692,374

3,914,548

40.4

3,974.15

Fiscal 2023
9,287,209
3,548,576
38.2
Note 1. Net worth : Fiscal 2024 3,914,548 million yen. Fiscal 2023 3,548,576 million yen.
2. The Company conducted a 5-for-1 stock split of its common stock, with an effective date of October 1, 2023. Equity per shareis adjusted to reflect the impact of the stock split as if the stock split had occurred at the beginning of the prior fiscal year.

3,602.60

2. Nonconsolidated forecast for Fiscal 2025 (Year ending March 31, 2025)
Operating revenues
Millions of yen

Operating income%

Millions of yen

Ordinary income%

Millions of yen

Net income per share- basic

Net income%

Millions of yen%

Fiscal 2025
1,443,000
1.8
573,000
1.2
509,000
0.9
360,000
0.3
Note
Percentages for operating revenues, operating income, ordinary income, and net income represent the changes from the previous year.

Note
Note
Note

Yen

365.48

1. Financial information is not subject to audit procedures.
2. The forward-looking statements in this report are based on estimates and assumptions that reflect information available as of the day of release ofthis report. The accuracy of forecasts above, therefore, is inherently uncertain because it is affected by future economic trends and environment.
3. English supplementary information will be announced on our website later.

CONSOLIDATED BALANCE SHEET (Unaudited)
Millions of yen

ASSETS
Current assets:
Cash and deposits
Money held in trust for the Chuo Shinkansen construction
Notes, accounts receivable-trade and contract assets
Railway fares receivables
Marketable securities
Inventories
Other
Allowance for doubtful accounts
Total current assets
Noncurrent assets:
Property, plant and equipment
Buildings and structures, net
Machinery, rolling stock and vehicles, net
LandConstruction in progress
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Asset for retirement benefits
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total noncurrent assets
Total assets

Fiscal 2023

Fiscal 2024

(As of March 31, 2023)(As of March 31, 2024)

674,640
1,585,282
66,27574,809177,500
37,337
96,534(95)
2,712,285

740,983
1,351,634
78,249103,447
214,300
41,858260,730(105)
2,791,097

1,313,282
316,718
2,367,843
1,571,185
43,571
5,612,601
159,401

1,279,176
294,2452,367,230
1,830,396
37,812
5,808,861
160,184

630,801
5,763
217,495
176,547(487)
1,030,120
6,802,124
9,514,409

526,142
10,330160,992
484,722(435)
1,181,752
7,150,798
9,941,896

Millions of yen

LIABILITIESCurrent liabilities:
Notes and accounts payable-trade
Short-term loans payable
Current portion of bonds payable
Current portion of long-term loans payable
Current portion of long-term accounts payable-railway facilities
Accounts payable-other
Income taxes payable
Advances received
Deposits received
Provision for bonuses
Other
Total current liabilities
Noncurrent liabilities:
Bonds payable
Long-term loans payable
Long-term debt for the Chuo Shinkansen construction
Long-term accounts payable-railway facilities
Liability for retirement benefits
Other
Total noncurrent liabilities
Total liabilities
EQUITY
Shareholders' equity:
Common stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders' equity
Accumulated other comprehensive income:Unrealized gain on available-for-sale securities
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Noncontrolling interests
Total equity
Total liabilities and equity

Fiscal 2023

Fiscal 2024

(As of March 31, 2023)(As of March 31, 2024)

79,53327,341
139,00247,692
6,937
218,639
44,21648,00625,675
26,811
65,595
729,452

85,33232,09480,50436,250
7,373
263,480
106,429
56,251
32,17730,226
68,584
798,703769,801
473,3903,000,000
513,050
182,801
38,802
4,977,846
5,707,299

709,337
507,040
3,000,000
505,677
157,019
40,433
4,919,508
5,718,212

112,000
53,474
3,643,142(103,159)
3,705,456

112,000
54,1293,999,973(103,161)
4,062,942

49,517
4,280
53,79847,855
3,807,110
9,514,409

86,202
20,516
106,718
54,0234,223,683
9,941,896

CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited)
Millions of yen

Operating revenues
Operating expenses:
Transportation, other services and cost of sales
Selling, general and administrative expenses
Total operating expenses
Operating income
Non-operating income:Interest income
Dividend income
Equity in earnings of affiliates
Insurance income
Gain on sales of investment securities
Other
Total non-operating income
Non-operating expenses:
Interest expense
Interest on long-term accounts payable-railway facilities
Other
Total non-operating expenses
Ordinary income
Extraordinary gain:Contribution for construction
Gain on sales of noncurrent assets
Other
Total extraordinary gain
Extraordinary loss:
Loss on reduction of noncurrent assets
Loss on retirement of noncurrent assets
Loss on sales of noncurrent assets
Other
Total extraordinary loss
Income before income taxes
Income taxes-current
Income taxes-deferred
Total income taxes
Net income
Net income attributable to noncontrolling interests
Net income attributable to owners of the parent

Fiscal 2023

Fiscal 2024

(For the year ended
March 31, 2023)(For the year ended
March 31, 2024)

1,400,285

1,710,407

847,847
177,934
1,025,781
374,503

912,306
190,719
1,103,025
607,381

2,122
4,912
173
1,878
2,989
4,082
16,159

3,333
4,497
566
2,589
8,037
3,419
22,442

44,97934,132
4,065
83,177
307,485

45,36833,724
3,785
82,878546,946

1,329
1,426
180
2,936

3,031
599
152
3,783

1,992
1,992
21
281
4,288
306,132
41,00343,031
84,034
222,098
2,680
219,417

2,567
1,851
878
103
5,401
545,328
120,51136,055
156,567
388,761
4,350
384,411

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Unaudited)
Millions of yen

Net income
Other comprehensive income:Unrealized gain on available-for-sale securities
Remeasurements of defined benefit plans
Share of other comprehensive income in affiliates
Total other comprehensive income
Comprehensive income(breakdown)
Total comprehensive income attributable to
Owners of the parent
Noncontrolling interests

Fiscal 2023

Fiscal 2024

(For the year ended
March 31, 2023)(For the year ended
March 31, 2024)

222,098

388,761

2,781(1,256)
8
1,533
223,631

38,145
17,575
181
55,903444,665

220,786
2,844

437,332
7,333

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (Unaudited)
Fiscal 2023 (For the year ended March 31, 2023)(Millions of yen）

Shareholders' equity

Common stock

Balance at the beginning of the fiscal year

112,000

Capital surplus

Retained earnings

53,474

3,449,334

Treasury stock

Total shareholders' equity(103,159)

3,511,649

Changes of items during the fiscal year
Dividends from surplus(25,610)(25,610)Net income attributable to ownersof the parent

219,417

219,417(0)Purchases of treasury stock
Changes in the ownership interest bypurchases of shares of consolidated
subsidiaries

(0)

(0)

(0)

Net changes of items otherthan shareholders' equity
Total changes of items during the fiscal year
Balance at the end of the fiscal year－

(0)193,807(0)

193,807

112,000

53,474

3,643,142(103,159)

3,705,456

Accumulated other comprehensive income

Balance at the beginning of the fiscal year

Unrealized gain on
available-for-salesecurities

Remeasurementsof defined benefit
plans

Total accumulated
other comprehensive
income46,912

5,516

52,428

Noncontrollinginterests

45,173

Total equity

3,609,252

Changes of items during the fiscal year
Dividends from surplus(25,610)Net income attributable to ownersof the parent

219,417

Purchases of treasury stock(0)

Changes in the ownership interest bypurchases of shares of consolidated
subsidiaries(0)

Net changes of items otherthan shareholders' equity

2,604(1,235)

1,369

2,682

4,051

Total changes of items during the fiscal year

2,604

(1,235)

1,369

2,682

197,858

Balance at the end of the fiscal year

49,517

4,280

53,79847,855

3,807,110

Fiscal 2024 (For the year ended March 31, 2024)(Millions of yen）

Shareholders' equity

Common stock

Balance at the beginning of the fiscal year

112,000

Capital surplus

Retained earnings

53,474

3,643,142

Treasury stock

Total shareholders' equity(103,159)

3,705,456

Changes of items during the fiscal year
Dividends from surplus(27,580)(27,580)

Net income attributable to ownersof the parent

384,411384,411(1)

Purchases of treasury stock
Changes in the ownership interest bypurchases of shares of consolidated
subsidiaries

(1)

655

655

Net changes of items otherthan shareholders' equity
Total changes of items during the fiscal year
Balance at the end of the fiscal year－

655

356,831(1)

357,485

112,000

54,1293,999,973(103,161)

4,062,942

Accumulated other comprehensive income

Balance at the beginning of the fiscal year

Unrealized gain on
available-for-salesecurities

Remeasurementsof defined benefit
plans

Total accumulated
other comprehensive
income49,517

4,280

53,798

Noncontrollinginterests

47,855

Total equity

3,807,110

Changes of items during the fiscal year
Dividends from surplus(27,580)

Net income attributable to ownersof the parent

384,411(1)

Purchases of treasury stock
Changes in the ownership interest bypurchases of shares of consolidated
subsidiaries
Net changes of items otherthan shareholders' equity

655

36,684

16,23652,9206,167

59,088

Total changes of items during the fiscal year

36,684

16,23652,9206,167

416,573

Balance at the end of the fiscal year

86,202

20,516

106,718

54,0234,223,683

CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited)
Millions of yen

Operating activities:
Income before income taxes
Depreciation and amortization
Decrease in provision for large-scale renovation of the
Shinkansen infrastructure
Decrease in liability for retirement benefits
Interest and dividend income
Interest expense
Equity in earnings of affiliates
Proceeds from contribution for construction
Loss on reduction of noncurrent assets
Loss on retirement of noncurrent assets
Loss (gain) on sales of noncurrent assets
Increase in trade receivables
Increase in inventories
Increase in trade payables
Increase in accounts payable-other
Increase in advances received
Other
SubtotalInterest and dividend income received
Interest expense paid
Income taxes paid
Net cash provided by operating activities

Fiscal 2023

Fiscal 2024

(For the year ended
March 31, 2023)(For the year ended
March 31, 2024)

306,132
219,614545,328
216,406(35,000)－(317)(7,034)
79,111(173)(1,329)1,992
6,817(1,404)(37,102)(2,192)
3,562
3,555
6,869
21,982565,084
6,974(78,867)(6,485)
486,706(4,693)(7,830)79,092(566)(3,031)
2,567
8,791
279
(33,992)(3,928)
5,799
13,522
5,627(19,383)
803,990
6,719(78,842)(58,987)
672,878(28,700)
28,700(44,600)
44,600Investing activities:
Payments into time deposits
Proceeds from withdrawal of time deposits
Proceeds from cancellation of money held in trust
for the Chuo Shinkansen construction
Payments for money held in trust
Purchases of marketable securities
Proceeds from redemption of marketable securities
Purchases of property, plant and equipment
Proceeds from contribution received for construction
Purchases of intangible assets
Purchases of investment securities
Proceeds from sales and redemption of investment securities
Other
Net cash used in investing activities

227,786

233,648－(70,000)
70,000(427,192)
4,054(26,875)(3,499)50,302387(175,036)(450,000)(74,600)
74,600(391,266)
5,693(12,309)(4,699)177,132
5,245(436,556)

Financing activities:
Net increase (decrease) in short-term loans payable
Proceeds from issuance of short-term bonds
Redemption of short-term bonds
Proceeds from long-term loans payable
Repayment of long-term loans payable
Proceeds from issuance of bonds
Redemption of bonds
Payments for long-term accounts payable-railway facilities
Purchases of treasury stock
Cash dividends paid
Cash dividends paid to noncontrolling interests
Other
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents, beginning of the fiscal year
Cash and cash equivalents, end of the fiscal year

(3,397)200,000(400,000)
84,440(87,777)
18,000－(6,529)(0)(25,610)(161)
432(220,604)
91,066
619,460
710,526

4,752－－
69,900(47,692)
20,000(139,007)(6,937)(1)(27,580)
(224)
1,663
(125,127)
111,194
710,526
821,720

SEGMENT INFORMATION (Unaudited)
1. Description of reportable segments
The reportable segment of the JR Central Group is comprised of units in which separate financial information is obtainable and is reported regularly
to the JR Central’s board of directors to determine the allocation of management resources and to evaluate business performance.
The Group is composed of three reportable segments by nature of products and services: Transportation, Merchandise and Other, and Real Estate.
The Transportation segment includes railway operations of the Tokaido Shinkansen and the conventional railway in the Tokai area, and bus operations.
The Merchandise and Other segment includes department store operations at the JR Central Towers, and retail sales on trains and at stations.
The Real Estate segment includes real estate leasing business such as station building leasing, and real estate sales.
2. Methods of measurement for the amounts of Operating Revenues, Profit (Loss), Assets, Liabilities and Other items for each reportable segment
Reportable segment profit represents operating income. Intersegment transactions or transfers prices are based upon the arm's length transactions.
3. Information about Operating Revenues, Profit (Loss), Assets, Liabilities and Other items is as follows.
Fiscal 2023 (For the year ended March 31, 2023)(Millions of yen)Transportation

Merchandise
and Other

Real Estate

Other（Note 1）

1,123,437

131,456

45,39899,992

10,578

7,294

31,999149,435

1,134,016

138,751

77,398249,427

Reconciliations（Note 2）

Consolidated（Note 3）1,400,285－

1,400,285

199,308(199,308)－

1,599,593(199,308)

1,400,285

Total

Operating revenues:
External customers
Intersegment transactions or transfers
Total
Segment profit

338,5028,316

17,361

10,048374,229274

374,503

Segment assets

8,559,242

136,386

366,526

420,476

9,482,631

31,7789,514,409

Depreciation and amortization

196,041

3,807

15,7104,054

219,614－219,614Amounts of investments in equity in affiliates

11,176－－－

11,176－

11,176

Increase in property, plant and equipment
and intangible assets

435,450

4,676

17,394

5,128

462,650－

462,650

Other:

Note

1. "Other" includes business of hotel, travel, advertising, rolling stock production, construction, etc., which are not included in any reportable segment.

Note

2. Reconciliations are as follows：(1) The reconciliations amount of 274 million yen for segment profit is the elimination of intersegment transactions.
(2) The reconciliations amount of 31,778 million yen for segment assets includes corporate assets of 646,707 million yen and elimination ofintersegment balances of (614,928) million yen. Corporate assets, which are not allocated to reportable segments, principally consist ofinvestment securities and deposits. The elimination of intersegment transactions is related to intersegment receivables.
3. Segment profit is reconciled to operating income in the consolidated statement of operations.

Fiscal 2024 (For the year ended March 31, 2024)(Millions of yen)

Merchandise
Transportation
and Other

Real Estate

Other（Note 1）

Total

Reconciliations（Note 2）

Consolidated（Note 3）
1,710,407

Operating revenues:
External customers
Intersegment transactions or transfers
Total

1,391,569

153,144

49,522

116,170

1,710,407－

16,8007,497

33,716

139,071

197,086(197,086)－

1,408,370

160,642

83,239255,241

1,907,493(197,086)

1,710,407

Segment profit

559,678

13,811

20,26015,471

609,222(1,840)607,381

Segment assets

8,767,826

149,372

376,404

466,479

9,760,083

181,812

9,941,896

Depreciation and amortization

193,633

3,704

14,987

4,081

216,406－

216,406

Amounts of investments in equity in affiliates

11,809－－－11,809－11,809

Increase in property, plant and equipment
and intangible assets

414,841

6,113

10,3705,886

437,212－437,212

Other:

Note

1. "Other" includes business of hotel, travel, advertising, rolling stock production, construction, etc., which are not included in any reportable segment.

Note

2. Reconciliations are as follows：(1) The reconciliations amount of (1,840) million yen for segment profit is the elimination of intersegment transactions.
(2) The reconciliations amount of 181,812 million yen for segment assets includes corporate assets of 841,365 million yen and elimination ofintersegment balances of (659,552) million yen. Corporate assets, which are not allocated to reportable segments, principally consist ofinvestment securities and deposits. The elimination of intersegment transactions is related to intersegment receivables.
3. Segment profit is reconciled to operating income in the consolidated statement of operations.

NONCONSOLIDATED BALANCE SHEET (Unaudited)
Millions of yen

ASSETS
Current assets:
Cash and deposits
Money held in trust for the Chuo Shinkansen construction
Railway fares receivables
Trade receivables
Short-term loans receivable
Marketable securities
Supplies
Prepaid expenses
Other
Total current assets
Noncurrent assets:
Noncurrent assets - railway
Property, plant and equipment
Accumulated depreciation
Property, plant and equipment, net
Intangible assets
Total noncurrent assets - railway
Noncurrent assets - related businesses
Property, plant and equipment
Accumulated depreciation
Property, plant and equipment, net
Intangible assets
Total noncurrent assets - related businesses
Noncurrent assets - shared
Property, plant and equipment
Accumulated depreciation
Property, plant and equipment, net
Intangible assets
Total noncurrent assets - shared
Construction in progress
Construction in progress - railway
Construction in progress - related businesses
Other
Total construction in progress
Investments and other assets
Investment securities
Stocks of subsidiaries and affiliates
Long-term loans receivable from subsidiaries and affiliates
Long-term prepaid expenses
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total noncurrent assets
Total assets

Fiscal 2023

Fiscal 2024

(As of March 31, 2023)(As of March 31, 2024)

665,945
1,585,282
76,24315,087
8,994
177,500
17,913
1,655
68,8472,617,468

732,694
1,351,634
108,495
16,021
5,710
214,300
19,924
1,148
229,108
2,679,038

8,388,210(4,696,525)
3,691,684
25,133
3,716,817

8,406,993(4,774,552)
3,632,440
27,1203,659,560

133,053(41,717)
91,336
66
91,402

129,977(44,486)
85,490682
86,17389,728(63,128)
26,599148
26,74889,135(62,123)
27,011375
27,387

1,676,841
209
1,155
1,678,206

1,936,627
4
939
1,937,572

600,316
120,704
64,065
23,158204,070
147,799(3,548)1,156,566
6,669,741
9,287,209

489,157
120,704
62,96424,659152,022453,853(719)
1,302,642
7,013,336
9,692,374

Millions of yen

LIABILITIESCurrent liabilities:
Short-term loans payable
Current portion of bonds payable
Current portion of long-term loans payable
Current portion of long-term accounts payable-railway facilities
Trade payables
Accrued expenses
Income taxes payable
Inter-line fares received
Deposits received
Prepaid fares received
Deferred contribution for construction
Provision for bonuses
Other
Total current liabilities
Noncurrent liabilities:
Bonds payable
Long-term loans payable
Long-term debt for the Chuo Shinkansen construction
Long-term accounts payable-railway facilities
Provision for retirement benefits
Other
Total noncurrent liabilities
Total liabilities
EQUITY
Shareholders' equity:
Common stock
Capital surplus
Legal capital surplus
Other capital surplus
Total capital surplus
Retained earnings
Legal retained earnings
Other retained earnings
Reserve for tax purpose reduction entry
General reserve
Retained earnings brought forward
Total retained earnings
Treasury stock
Total shareholders' equity
Valuation and translation adjustments
Unrealized gain on available-for-sale securities
Total valuation and translation adjustments
Total equity
Total liabilities and equity

Fiscal 2023

Fiscal 2024

(As of March 31, 2023)(As of March 31, 2024)

196,662
139,00247,692
6,937
243,609
10,40039,613
4,746
8,075
25,376
16,255
19,28443,437801,095

211,923
80,50436,2507,373
297,810
10,972
99,7293,626
13,53930,852
18,02322,04847,095
879,749

769,801
473,3903,000,000
513,050
167,924
13,3704,937,538
5,738,633

709,337
507,040
3,000,000
505,677
163,554
12,466
4,898,076
5,777,826

112,000

112,000

53,500053,50053,500053,50012,504

12,5049,475
3,081,000
335,3143,438,293(102,205)
3,501,588

10,2003,081,000
665,774
3,769,480(102,207)
3,832,772

46,987
46,9873,548,576
9,287,209

81,775
81,775
3,914,548
9,692,374

NONCONSOLIDATED STATEMENT OF OPERATIONS (Unaudited)
Millions of yen

Operating revenues - railway
Operating revenues:
Passenger transportation
Trackage revenue
Miscellaneous income of transportation
Total operating revenues
Operating expenses:
Transportation expenses
General and administrative expenses
Taxes
Depreciation and amortization
Total operating expenses
Operating income - railway
Operating revenues - related businesses
Operating revenues:
Real estate lease revenue
Other
Total operating revenues
Operating expenses:
Cost of real estate lease revenue
Selling, general and administrative expenses
Taxes
Depreciation and amortization
Total operating expenses
Operating income - related businesses
Total Operating income
Non-operating income:Interest income
Interest on securities
Dividend income
Insurance income
Gain on sales of investment securities
Other
Total non-operating income
Non-operating expenses:
Interest expense
Interest on bonds
Interest on long-term accounts payable-railway facilities
Other
Total non-operating expenses
Ordinary income
Extraordinary gain:Contribution for construction
Gain on sales of noncurrent assets
Reversal of allowance for doubtful accounts for subsidiaries
and affiliates
Other
Total extraordinary gain
Extraordinary loss:
Loss on reduction of noncurrent assets
Loss on sales of noncurrent assets
Other
Total extraordinary loss
Income before income taxes
Income taxes-current
Income taxes-deferred
Total income taxes
Net income

Fiscal 2023

Fiscal 2024

(For the year ended
March 31, 2023)(For the year ended
March 31, 2024)

1,069,980
3,798
52,944
1,126,724

1,342,829
3,809
53,6081,400,247

475,066
74,38737,978200,888788,321338,402522,072
79,714
41,405
198,450
841,643558,603

15,980689
16,66916,217917
17,135

2,809
475
2,256
3,158
8,700
7,968
346,371

3,480
509
2,384
3,059
9,434
7,700
566,304

458
2,115
4,767
1,830
2,986
4,097
16,255

412
3,320
4,380
2,494
7,551
3,555
21,71432,098
13,631
34,132
3,864
83,727
278,899

32,432
13,71533,724
3,560
83,432504,586

1,198
2,149

2,538
2,507

851

2,029

2,621
6,821

159
7,235

2,705
16
79
2,801
282,919
34,732
46,26180,994201,924

2,437
867
0
3,305
508,516
111,423
38,327
149,750
358,766

NONCONSOLIDATED STATEMENT OF CHANGES IN EQUITY (Unaudited)
Fiscal 2023 (For the year ended March 31, 2023)(Millions of yen）

Shareholders' equity

Capital surplus

Commonstock

Balance at the beginning of the fiscal year

112,000

Retained earnings

Other retained earnings
Legal capitalsurplus

Other capitalsurplus53,5000Total capital Legal retained
surplusearnings

53,500Reserve fortax purpose
reduction
entry

12,5049,475

Retainedearnings
brought
forwardGeneralreserve
3,081,000

Total retained
earnings

158,999

3,261,978

Dividends from surplus(25,610)(25,610)Net income

201,924

201,924

Changes of items during the fiscal year
Provision of reserve for tax purpose
reduction entry
Reversal of reserve for tax purpose
reduction entry

Purchases of treasury stock
Net changes of items otherthan shareholders' equity
Total changes of items during the fiscal year
Balance at the end of the fiscal year

－

－

－

－

－

－

－

176,314

176,314112,000

53,500053,50012,5049,475

3,081,000

335,3143,438,293

Valuation and translation
adjustments

Shareholders' equity

Treasurystock

Balance at the beginning of the fiscal year

(102,205)

Unrealized
Total
Total
gain onvaluation andshareholders'available-fortranslation
equitysale securities adjustments

3,325,273

44,60144,601

Total equity

3,369,875

Changes of items during the fiscal year
Provision of reserve for tax purpose
reduction entry
Reversal of reserve for tax purpose
reduction entry
Dividends from surplus(25,610)(25,610)Net income

201,924

201,924(0)(0)

Purchases of treasury stock(0)

Net changes of items otherthan shareholders' equity
Total changes of items during the fiscal year
Balance at the end of the fiscal year

2,386

2,386

2,386

(0)

176,314

2,386

2,386

178,701(102,205)

3,501,588

46,987

46,9873,548,576

Fiscal 2024 (For the year ended March 31, 2024)(Millions of yen）

Shareholders' equity

Capital surplus

Commonstock

Balance at the beginning of the fiscal year

112,000

Retained earnings

Other retained earnings
Legal capitalsurplus

Other capitalsurplus53,5000Total capital Legal retained
surplusearnings

53,500Reserve fortax purpose
reduction
entry

12,5049,475

Retainedearnings
brought
forwardGeneralreserve
3,081,000

Total retained
earnings

335,3143,438,293

Changes of items during the fiscal year
Provision of reserve for tax purpose
reduction entry

1,749(1,749)－

Reversal of reserve for tax purpose
reduction entry(1,024)

1,024－

Dividends from surplus(27,580)(27,580)

Net income

358,766

358,766

Purchases of treasury stock
Net changes of items otherthan shareholders' equity
Total changes of items during the fiscal year
Balance at the end of the fiscal year

－

－

－

－

－

725

－

330,460

331,186

112,000

53,500053,50012,504

10,2003,081,000

665,774

3,769,480

Valuation and translation
adjustments

Shareholders' equity

Treasurystock

Balance at the beginning of the fiscal year

(102,205)

Unrealized
Total
Total
gain onvaluation andshareholders'available-fortranslation
equitysale securities adjustments

3,501,588

46,987

46,987

Total equity

3,548,576

Changes of items during the fiscal year
Provision of reserve for tax purpose
reduction entry－－

Reversal of reserve for tax purpose
reduction entry－－

Dividends from surplus(27,580)(27,580)

Net income

358,766

358,766(1)(1)

Purchases of treasury stock(1)

Net changes of items otherthan shareholders' equity
Total changes of items during the fiscal year
Balance at the end of the fiscal year

34,78734,78734,787(1)

331,184

34,78734,787

365,972(102,207)

3,832,772

81,775

81,775

3,914,548