Summary of Consolidated Financial Report for the Six Months Ended September 30, 2022〔under Japanese GAAP〕（Unaudited）
English translation from the original Japanese-language document.
Central Japan Railway Company is refferred to as the "Company," and the Company and its consolidated subsidiaries are refferred to as the "Companies."
October 31, 2022
Company Name
Stock Exchange Listings
Code Number
URL
Representative
Contact Person
Expected Date of Presentation of Quarterly Securities Reports
Expected Date of Dividend Payment Commencement
Supplementary Information
Briefing of Financial Results of 2nd Quarter

Central Japan Railway Company
Tokyo and Nagoya
9022https://jr-central.co.jp
Shin Kaneko, President and Representative Director
Ataru Kimura, Corporate Executive Officer, General Manager of the Public
Relations Department (Tel +81-52-564-2549)
November 9, 2022
December 1, 2022
Attached
To be held (for institutional investors and analysts)(Figures less than one million yen, except for per share information, have been rounded down.)

1. Results for the six months ended September 30, 2022
(1) Consolidated financial results
Operating revenues

Fiscal 2023 2nd Quarter

Millions of yen%

Millions of yen634,139

63.9

171,926

Net income attributable toowners of the parent

Ordinary income

Operating income%

Millions of yen―%

136,290

Millions of yen―%

96,949―14.5
386,949(34,103)―(67,090)―(44,455)
Fiscal 2022 2nd Quarter
Note 1. Comprehensive income :Fiscal 2023 2nd Quarter 92,549 million yen, ― %. Fiscal 2022 2nd Quarter (45,572) 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 same period of the previous year.
Net income per share- basic―

Net income per share- diluted
Yen

Yen

Fiscal 2023 2nd Quarter

492.63―Fiscal 2022 2nd Quarter(225.89)―(2) Consolidated financial position
Total assets

Fiscal 2023 2nd Quarter
Fiscal 2022
Note
Net worth :EquityEquity per share

Net worth ratio

Millions of yen

Millions of yen%

Yen

9,460,921

3,688,904

38.5

18,110.23

37.7

18,110.23

9,450,519
3,609,252
Fiscal 2023 2nd Quarter 3,643,186 million yen. Fiscal 2022 3,564,078 million yen.

2. Cash dividends
Cash dividends per share
1st Quarter

2nd Quarter

3rd Quarter

Yen

Yen

Fiscal 2022

―

65.00

Fiscal 2023

―

65.00

Fiscal 2023 (Forecast)
NoteRevisions to the previous forecast of cash dividends for Fiscal 2023 :Year-end
Yen

Total
Yen

Yen

―

65.00

130.00―65.00

130.00Net income attributableto owners of the parent

Net income per share basicnone

3. Consolidated forecast for Fiscal 2023 (Year ending March 31, 2023)
Operating income

Operating revenues
Millions of yen%

Millions of yen

Ordinary income%Millions of yen%

Millions of yen%

Yen

Fiscal 2023
1,332,000 42.4
279,000―
208,000―
141,000―
716.47Note 1. Percentages for operating revenues, operating income, ordinary income, and net income attributable to owners of the parent represent the changes
from the previous year.
2. Revisions to the previous consolidated forecast for Fiscal 2023 :revisedNotes to Consolidated Financial Information(1) Changes in scope of significant consolidated subsidiaries ：none(2) Adoption of simplified accounting methods or accounting methods used specifically for quarterly consolidated financial statements :adopted(3) 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(4) Number of common shares issued and outstanding at the end of each periodⅰ) Number of shares outstanding at the end of the period(Including treasury stocks)

Fiscal 2023 2nd Quarter

206,000,000 Fiscal 2022ⅱ) Number of treasury stocks at the end of the period

Fiscal 2023 2nd Quarter

9,200,851 Fiscal 2022ⅲ) Average number of shares outstanding for the period

Fiscal 2023 2nd Quarter

sharesshares206,000,000

sharesshares9,200,851

shares

Noteshares

196,799,149 Fiscal 2022 2nd Quarter

196,796,048

Treasury stocks that are deducted from calculation of the average number of shares outstanding for the period include the Company’s
shares held by the employee stock ownership plan trust account, as follows.
Fiscal 2023 2nd Quarter ― shares. Fiscal 2022 2nd Quarter 3,126 shares.

(5) Quarterly 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.
(6) Adoption of simplified accounting methods or accounting methods used specifically for quarterly consolidated financial statements
Computation of income taxes
The Companies compute income taxes by multiplying quarterly income before income taxes by the effective tax rate that is reasonably estimatedby applying tax effect accounting to the projected annual income before income taxes of the fiscal 2023 including the fiscal 2023 2nd Quarter.
In case where the method of computation is remarkably unreasonable, the statutory effective tax rate is used.
(7) Additional information
Effects of the COVID-19 pandemic
The use of trains and other services is low level as an effect of the COVID-19 pandemic. While it is difficult to predict the various outcomes ofthe pandemic, the accounting estimate for fiscal 2023 is made based on the assumption that the average of the use of trains will be around 80%
relative to fiscal 2019 level in the 3rd Quarter and the 4th Quarter, considering the revitalization of socio-economic activities that would occur as
responses to the pandemic progress.

(Reference) Nonconsolidated forecast for Fiscal 2023 (Year ending March 31, 2023)
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 2023
1,084,000 49.3
265,000―
193,000―
132,000―
Note 1. Percentages for operating revenues, operating income, ordinary income, and net income represent the changes from the previous year.
2. Revisions to the previous noncconsolidated forecast for Fiscal 2023 :revisedNote
Note
Note

Yen670.05

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.

QUARTERLY 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
Deferred tax assetsOther
Allowance for doubtful accounts
Total investments and other assets
Total noncurrent assets
Total assets

Fiscal 2022

Fiscal 2023 2nd Quarter(As of March 31, 2022)(As of September 30, 2022)

331,651
1,813,068
54,56944,193
328,500
34,36976,518(106)2,682,764

269,428
1,676,711
49,67862,940508,600
33,91081,957(73)
2,683,152

1,354,261
272,900
2,356,728
1,382,891
40,8795,407,662
142,072

1,321,878
281,225
2,368,545
1,458,395
46,7405,476,785
143,342772,089
260,389
186,087(545)
1,218,020
6,767,755
9,450,519

708,010265,028
185,112(511)
1,157,641
6,777,768
9,460,921

QUARTERLY CONSOLIDATED BALANCE SHEET (Unaudited)
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
Income taxes payable
Provision for bonuses
OtherTotal 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 large-scale renovation of the Shinkansen infrastructure
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
Deferred gain on hedges
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Noncontrolling interests
Total equity
Total liabilities and equity

Fiscal 2022

Fiscal 2023 2nd Quarter(As of March 31, 2022)(As of September 30, 2022)

75,97030,738－87,777
6,529
6,409
22,493507,395
737,31460,806
31,436
138,997
62,5786,730
43,94827,755
420,885
793,137

890,754436,6423,000,000
519,988
35,000180,830
40,736
5,103,953
5,841,267

761,781
461,4423,000,000
516,572
17,500182,190
39,391
4,978,878
5,772,016

112,000
53,474
3,449,334(103,159)
3,511,649

112,000
53,474
3,533,479(103,159)
3,595,793

46,912－
5,516
52,42845,1733,609,252
9,450,519

42,6600
4,732
47,39245,7183,688,904
9,460,921

QUARTERLY 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 (loss)
Non-operating income:Interest income
Dividend income
Insurance income
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 (loss)
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
Other
Total extraordinary loss
Income (loss) before income taxes
Income taxes
Net income (loss)
Net income attributable to noncontrolling interests
Net income (loss) attributable to owners of the parent

Fiscal 2022 2nd Quarter

Fiscal 2023 2nd Quarter(For the six months ended
September 30, 2021)(For the six months ended
September 30, 2022)

386,949

634,139

345,573
75,479421,053(34,103)

380,597
81,615462,212
171,926

1,234
2,068
1,276
4,216
8,796

1,071
2,526
101
2,268
5,968

22,28817,304
2,190
41,783(67,090)

22,47017,1152,018
41,604
136,290

48
2,400
30
2,479

364
150
17533

33
444
92
571
(65,182)(21,227)(43,955)499(44,455)

228
603
36
868
135,955
38,40597,549600
96,949QUARTERLY CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Unaudited)
Millions of yen

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

Fiscal 2022 2nd Quarter

Fiscal 2023 2nd Quarter(For the six months ended
September 30, 2021)(For the six months ended
September 30, 2022)(43,955)

97,549(655)－(948)(12)(1,617)(45,572)(4,198)0(776)(26)(5,000)92,549(45,635)
62

91,913636

QUARTERLY CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited)
Millions of yen

Operating activities:
Income (loss) before income taxes
Depreciation and amortization
Decrease in provision for large-scale renovation of theShinkansen infrastructure
Increase (decrease) in liability for retirement benefits
Interest and dividend income
Interest expense
Proceeds from contribution for construction
Loss on reduction of noncurrent assets
Loss on retirement of noncurrent assets(Increase) decrease in trade receivables
Decrease in inventories
Decrease in trade payables
OtherSubtotal
Interest and dividend income received
Interest expense paid
Income taxes paid
Net cash provided by (used in) operating activities

Fiscal 2022 2nd Quarter

Fiscal 2023 2nd Quarter(For the six months ended
September 30, 2021)(For the six months ended
September 30, 2022)(65,182)
99,304

135,955
106,069(17,500)(17,500)(532)(3,303)39,593
(48)
33
1,503
35,4083,426(13,169)(50,579)
28,955
3,290(39,458)(77,475)(84,688)135(3,597)39,585
(364)
228
1,754
(13,966)830(15,163)(27,828)
206,138
3,588(39,446)(3,755)
166,524(15,000)
15,000(16,000)
16,000Investing activities:
Payments into time deposits
Proceeds from withdrawal of time deposits
Proceeds from cancellation of money held in trust
for the Chuo Shinkansen construction
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
OtherNet cash used in investing activities

128,045

136,357－－(227,699)
2,266(4,258)
(1)
31
5,341
(96,274)(35,700)
35,700(239,803)
1,896(3,527)(500)
26,763
1,339(77,474)

Financing activities:
Net increase 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
Payments for long-term accounts payable-railway facilities
Proceeds from sales of treasury stock
Cash dividends paid
Cash dividends paid to noncontrolling interests
OtherNet cash (used in) provided by financing activities
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents, beginning of the fiscal year
Cash and cash equivalents, end of period

168
200,000－
12,100(42,996)
20,000(3,026)336(12,805)(70)(2,302)
171,403(9,559)719,941
710,381697
200,000(200,000)
34,800(35,199)
10,000(3,215)－(12,805)
(90)
2,978
(2,835)86,214619,460
705,674

SEGMENT INFORMATION (Unaudited)
Fiscal 2022 2nd Quarter (For the six months ended September 30, 2021)
1. Information about operating revenues and profit (loss)(Millions of yen)

Merchandise
Transportationand Other

Real Estate

Other（Note 1）

Total

Reconciliations（Note 2）

Consolidated（Note 3）386,949

Operating revenues:
External customers
Intersegment transactions or transfers
Total
Segment profit (loss)
Note

285,316

41,07520,32840,229386,949

－

4,720

3,917

15,272

54,14378,053(78,053)－

290,036

44,99235,60094,373465,003(78,053)

386,949(32,555)(4,922)

8,356(4,172)(33,293)(809)(34,103)

1. "Other" includes business of hotel, travel, advertising, rolling stock production, construction, etc., which are not included in any reportable segment.
2. "Reconciliations" amount of (809) million yen for segment profit (loss) is the elimination of intersegment transactions.
3. Segment profit (loss) is reconciled to operating loss in the quarterly consolidated statement of operations.

Fiscal 2023 2nd Quarter (For the six months ended September 30, 2022)
1. Information about operating revenues and profit (loss)(Millions of yen)

Merchandise
Transportation
and Other

Real Estate

Other（Note 1）

Total

Reconciliations（Note 2）

Consolidated（Note 3）

634,139

Operating revenues:
External customers
Intersegment transactions or transfers
Total
Segment profit (loss)
Note

509,424

59,94021,615

43,158634,139

－

5,093

3,732

15,721

59,90384,451(84,451)－

514,518

63,67237,337103,062

718,590(84,451)

634,139

160,547

2,643

9,867

(469)

172,588(662)

171,926

1. "Other" includes business of hotel, travel, advertising, rolling stock production, construction, etc., which are not included in any reportable segment.
2. "Reconciliations" amount of (662) million yen for segment profit (loss) is the elimination of intersegment transactions.
3. Segment profit (loss) is reconciled to operating income in the quarterly consolidated statement of operations.

2. Matters related to changes in reportable segments
From the fiscal 2023 1st Quarter, business of "Hotel and Services" and "Rolling Stock Production" are reclassified back to “Other.”This is due to business of "Hotel and Services" and "Rolling Stock Production" falling short of the quantitative criteria.
Segment information for the fiscal 2022 2nd Quarter is disclosed on the basis of reportable segment classifications for the fiscal 2023 2nd Quarter.