JR Central’s Operating Revenues Composition
Operating revenues (consolidated)
Other
Real Estate

4%

103%

Conventional lines

Other

7%

10%

Conventional lines

8%

Tokyo%

Merchandiseand otherMerchandiseand other10Market area

Transportation income (non-consolidated)

Real Estate%

Market Area Characteristics and Transportation Capacity

9FY2021

Hiroshima

%

935.1

FY2021

FY2022

1,400.2

657.2

1,069.9

Transportation

76%

80

Tokaido Shinkansen

Tokaido Shinkansen

%%

90%

92

Transportation

Major affiliated companies

The population and economic activities in Japan areconcentrated in our market area, covering the Tokyo
Metropolitan area, the Nagoya area, and the Osaka area.
Percentages of JR Central’s market area in Japan as a whole
JR Central s market area

23.7

JR Tokai Takashimaya Co., Ltd.
JR Tokai Corporation
JR CENTRAL RETAILING PLUS Co., Ltd. *Real Estate050100（%）

In addition to the station building and other real estate leasing business,
the JR Central Group is also engaged in the real estate sales business.

JR Central provides unrivalled transportation
capacity that is incomparable to other modes.

(Ten thousand seats)

Tokaido Shinkansen

Airlines※1

Approximately

340,000seats
30
Approximately

Other

In addition to hotel business at JR Central's major stations, etc., it isalso engaged in such businesses as travel, advertising, manufacturing ofrolling stock, etc., and construction.
Major affiliated companies
JR Tokai Hotels Co., Ltd.
JR Tokai Tours, Inc.
JR Tokai Agency Co., Ltd.
Nippon Sharyo, Ltd.

3CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

Chuo Linen Supply Co., Ltd.
JR Tokai Construction Co., Ltd.
Tokai Rolling Stock & Machinery Co., Ltd.
Nippon Kikai Hosen Co., Ltd.

310297Italy219

Brazil205

Canada189

020011 times

20600

800 1,000 1,200 1,400* Calculated at a rate of 109.05 yen per dollar
Source: United Nations database, "Report on Prefectural Accounts (FY2019)," issued by
the Cabinet OfficeMarket share (against airlines)
Tokyo
Tokyo area Nagoya area

100%

(38,000 passengers/day)

85%

Tokyo area Osaka area

75

Tokyo area Okayama(7,000 passengers/day)※2
Approximately

30,000seats’07.3 ’08.3 ’09.3 ’10.3 ’11.3 ’12.3 ’13.3 ’14.3 ‘15.3 ’16.3 ’17.3 ’18.3 ’19.3 ’20.3 ’21.3 ’22.3 ’23.3*1 Tokaido Shinkansen: The number of passenger seats provided by "Nozomi" and "Hikari"through train services operating between Tokyo Station and Shin-Osaka Station in each
respective fiscal year (including unscheduled train services)*2 Airlines: Calculated by JR Central based on information pertaining to specified Japanese
air carriers (issued by the Ministry of Land, Infrastructure, Transport and Tourism) for FY2006 to FY2022*3 The figures for the period between '21.3 and '23.3 decreased because of the impacts of the COVID-19 pandemic.

Nagoya OsakaJR WestAirlines

Okayama Hiroshima Hakata

15%(74,000 passengers/day)Tokyo area Hiroshima

10Railway

JR Central%(4,000 passengers/day)

0400

JR Central has established an overwhelming
market share within its market area.

Changes in daily transportation capacity(Comparison between the Tokaido Shinkansen and airline transportation
services operating between the Tokyo Metropolitan area and the Osaka area)
40382
311

France(nominal GDP)* Tokai Kiosk Company and JR-Central Passengers Co., Ltd. merged in October 2023.

Central Japan Railway Company
Tokyo Station Development Co., Ltd.
JR Central Building Co., Ltd.
Nagoya Station Area Development Corporation
JR Tokai Real Estate Co., Ltd.
JR Development andShin-Yokohama Station Development Co., Ltd.
Management Corporation of Kansai

424

India%* JR Central’s market area is calculated taking the following prefectures into account:
Tokyo, Kanagawa, Chiba, Saitama, Ibaraki, Shizuoka, Yamanashi, Nagano, Aichi, Mie, Gifu,Shiga, Osaka, Kyoto, Hyogo and Nara
[Source] Area: "The Report of Statistical reports on the land area by prefectures andmunicipalities in Japan," issued by the Geospatial Information Authority of Japan
Population: "Population, Demographics and Number of Households Derived from Basic
Resident Registration,”issued by the Ministry of Internal Affairs and Communications
Gross prefectural product: "Report on Prefectural Accounts," issued by the Cabinet Office

Major affiliated companies

558

Germany
JR Central smarket area
U.K.

65.7

Grossprefecturalproduct

1,557JapanPopulation[FY2019]

2,331

China

Area

[January 1, 2023][January 1, 2023]

Major affiliated companies(Trillion yen)

U.S.A.

%In addition to operating a department store in JR Central Towers, JR
Central primarily sells goods onboard trains and within station premises.

JR Central’s market area is comparable to theeconomic size of major countries.
Comparison with GDP of each country

Other

61.4

Merchandise and other"Tokaido Shinkansen"

1,174.9 km%

Central Japan Railway Company
JR Tokai Bus Company

Representing a powerful presence in
the inter-city transportation market,
one that is unrivaled anywhere in
the world

552.6 km

*1 The consolidated operating revenues composition is based on the revenues from external customers.
*2 The operating revenues and transportation income for FY2021 and FY2022 decreased because of the impacts of the COVID-19 pandemic.

In addition to operating railroad business on the Tokaido Shinkansen andconventional lines in the Tokai Region, JR Central is also engaged in bus
operation and other businesses.

Nagoya366.0 kmbillion yen

billion yen

Transportation

Shin-Osaka

HakataFY2022billion yen

billion yenOkayama

Tokyo area - Fukuoka

25%6931%%

11%89%(15,000 passengers/day)*1 Market share is calculated by JR Central based on the Inter-Regional Passenger Mobility Survey
for FY2021, issued by the Ministry of Land, Infrastructure, Transport and Tourism.
*2 Numbers of passengers per day decreased because of the impacts of the COVID-19 pandemic.
*3 Tokyo area: Tokyo, Kanagawa, Chiba, Saitama and Ibaraki prefectures
Nagoya area: Aichi, Gifu and Mie prefectures
Osaka area: Osaka, Kyoto, Hyogo and Nara prefectures

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

4