Summary of Consolidated Financial Report for the Year Ended March 31, 2023〔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."
April 26, 2023

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
Ataru Kimura, Corporate Executive Officer, General Manager of the Public
Relations Department (Tel +81-52-564-2549)
June 23, 2023
June 23, 2023
June 26, 2023
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 2023

(Figures less than one million yen, except for per share information, have been rounded down.)
1. Results for Fiscal 2023 (Year ended March 31, 2023)(1) Consolidated financial results
Operating revenues

Fiscal 2023

Millions of yen%

Millions of yen

1,400,285

49.7

374,503

Net income attributableto owners of the parent

Ordinary income

Operating income%

Millions of yen―%

307,485

Millions of yen―%

219,417

―

13.6
1,708
Fiscal 2022
935,139―(67,299)―(51,928)
Note 1. Comprehensive income :Fiscal 2023 223,631 million yen, ―%. Fiscal 2022 (52,144) 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

Net income per share- diluted
Yen

Fiscal 2023

1,114.93

Fiscal 2022
Note
Equity in earnings of affiliates :(263.87)―
Fiscal 2023 173 million yen.

Operating income
to operating revenues

Ordinary income
to total assets

Return on net worth

―

%

%

%

6.0

3.2

26.7

(1.4)
Fiscal 2022 182 million yen.

(0.7)

0.2

―

(2) Consolidated financial position
EquityTotal assets

Fiscal 2023
Fiscal 2022
Note
Net worth :Net worth ratio

Millions of yen

Millions of yen

9,514,409

3,807,110

Equity per share

3,609,252
9,450,519
Fiscal 2023 3,759,255 million yen. Fiscal 2022 3,564,078 million yen.

%

Yen

39.5

19,101.99

37.7

18,110.23(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 2023

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

710,526

Fiscal 2022

71,746(153,049)(19,178)

619,460

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

Yen

Year-end

Yen

Total dividends(Fiscal)

Total

Yen

Yen

Millions of yen

Fiscal 2022

―

65.00

―

65.00

130.0025,610Fiscal 2023

―

65.00

―

70.00

135.0026,595

Fiscal 2024 (Forecast)

―

70.00

―

70.00

140.00

Dividends onequity ratio(Consolidated)

Payout ratio(Consolidated)
%
―

%
0.7

12.1

0.7

11.0

3. Consolidated forecast for Fiscal 2024 (Year ending March 31, 2024)
Operating revenues
Millions of yen

Operating income%

Millions of yen

Net income attributableto owners of the parent

Ordinary income%

Millions of yen%

Millions of yen%

Net income per share- basic
Yen

1,566,000 11.8
430,000 14.8
357,000 16.1
250,000 13.9
1,270.33
Fiscal 2024
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 2023

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

Fiscal 2023

9,200,852 Fiscal 2022

ⅲ) Average number of shares outstanding for the year

Fiscal 2023

196,799,149 Fiscal 2022

sharesshares206,000,000

sharesshares9,200,851

sharesNoteshares196,797,600

Treasury stocks that are deducted from calculation of the average number of shares outstanding for the year include the Company’s shares heldby the employee stock ownership plan trust account, as follows.
Fiscal 2023 ― shares. Fiscal 2022 1,567 shares.

(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 2023 (Year ended March 31, 2023)(1) Nonconsolidated financial results
Operating revenues

Operating income

Millions of yen%

Millions of yen

1,143,393

57.5

346,371

Ordinary income%

Net income

Millions of yen

278,899

Millions of yen

―

%

―

Fiscal 2022
726,074
34.0(1,261)―(74,048)―(68,176)
Note 1. Percentages for operating revenues, operating income, ordinary income, and net income represent the changes from the previous year.

―

Net income per share - basic―%

201,924

Fiscal 2023

Net income per share - diluted

Yen

Yen

Fiscal 2023

1,025.00―

Fiscal 2022

(346.08)―(2) Nonconsolidated financial position
Total assets
Fiscal 2023
Fiscal 2022
Note
Net worth :EquityNet worth ratio

Equity per share

Millions of yen

Millions of yen%

Yen

9,287,209

3,548,576

38.2

18,013.01

36.4

17,105.90

9,246,656
3,369,875
Fiscal 2023 3,548,576 million yen. Fiscal 2022 3,369,875 million yen.

2. Nonconsolidated forecast for Fiscal 2024 (Year ending March 31, 2024)
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%

1,294,000 13.2
411,000 18.7
338,000 21.2
239,000 18.4
Fiscal 2024
Note
Percentages for operating revenues, operating income, ordinary income, and net income represent the changes from the previous year.

Note
Note
Note

Yen

1,213.19

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 2022

Fiscal 2023

(As of March 31, 2022)(As of March 31, 2023)

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

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

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

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

772,089
5,257
260,389
180,830(545)
1,218,020
6,767,755
9,450,519

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

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
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
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Noncontrolling interests
Total equity
Total liabilities and equity

Fiscal 2022

Fiscal 2023

(As of March 31, 2022)(As of March 31, 2023)

75,97030,738－87,777
6,529
210,644
6,409
40,36831,82922,493
224,552
737,314

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

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

769,801
473,3903,000,000
513,050－
182,801
38,802
4,977,846
5,707,299

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

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

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

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

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 (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
Loss on sales of noncurrent assets
Other
Total extraordinary loss
Income (loss) before income taxes
Income taxes-current
Income taxes-deferred
Total income taxes
Net income (loss)
Net income attributable to noncontrolling interests
Net income (loss) attributable to owners of the parent

Fiscal 2022

Fiscal 2023

(For the year ended
March 31, 2022)(For the year ended
March 31, 2023)

935,139

1,400,285

773,583
159,847
933,431
1,708

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

2,421
3,807
182
2,976
144
7,667
17,199

2,122
4,912
173
1,878
2,989
4,082
16,15944,50734,516
7,183
86,207(67,299)

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

4,730
2,464
787
7,982

1,329
1,426
180
2,936

4,679
1,340
94
1,314
7,429
(66,745)
4,980(22,098)(17,117)(49,627)2,300(51,928)

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

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Unaudited)
Millions of yen

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

Fiscal 2022

Fiscal 2023

(For the year ended
March 31, 2022)(For the year ended
March 31, 2023)(49,627)

222,098(328)(2,168)(19)(2,517)(52,144)

2,781(1,256)
8
1,533
223,631(53,352)
1,207

220,786
2,844

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (Unaudited)
Fiscal 2022 (For the year ended March 31, 2022)(Millions of yen）

Shareholders' equity

Common stock

Balance at the beginning of the fiscal year

Capital surplus

112,000

Retained earnings

53,475

3,526,766

Cumulative effects of changes inaccounting policies
Restated balance

Treasury stock

Total shareholders' equity(103,578)

3,588,662

106
112,000

53,475

3,526,873

106(103,578)

3,588,769

Changes of items during the fiscal year
Dividends from surplus(25,610)(25,610)

Net loss attributable to ownersof the parent(51,928)(51,928)

Purchases of treasury stock
Disposal of treasury stock0

Changes in the ownership interest bypurchases of shares of consolidated
subsidiaries

(0)

(0)

(0)

419

419

(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)(77,538)

419(77,119)

112,000

53,474

3,449,334(103,159)

3,511,649

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
income46,157

7,695

53,853Cumulative effects of changes inaccounting policies
Restated balance

46,157

7,695

53,853

Noncontrollinginterests

Total equity

44,094

3,686,609

14

121

44,1083,686,731

Changes of items during the fiscal year
Dividends from surplus(25,610)

Net loss attributable to ownersof the parent(51,928)

Purchases of treasury stock(0)

Disposal of treasury stock

419

Changes in the ownership interest bypurchases of shares of consolidated
subsidiaries
Net changes of items otherthan shareholders' equity
Total changes of items during the fiscal
year
Balance at the end of the fiscal year

(0)

754

(2,179)(1,424)

1,064

(359)

754

(2,179)(1,424)

1,064(77,479)

46,912

5,516

52,42845,1733,609,252

Fiscal 2023 (For the year ended March 31, 2023)(Millions of yen）

Shareholders' equity

Common stock

Balance at the beginning of the fiscal year

Capital surplus

Retained earnings

Treasury stock

Total shareholders' equity

112,000

53,474

3,449,334(103,159)

3,511,649

112,000

53,474

3,449,334(103,159)

3,511,649

Cumulative effects of changes inaccounting policies
Restated balance
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(0)

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

(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

Noncontrollinginterests

Total equity

Unrealized gain on
available-for-salesecurities

Remeasurementsof defined benefit
plans

Total accumulated
other comprehensive
income46,912

5,516

52,42845,1733,609,252

46,912

5,516

52,42845,1733,609,252

Cumulative effects of changes inaccounting policies
Restated balance
Changes of items during the fiscal year
Dividends from surplus(25,610)Net income attributable to ownersof the parent

219,417(0)Purchases of treasury stock
Disposal of treasury stock
Changes in the ownership interest bypurchases of shares of consolidated
subsidiaries
Net changes of items otherthan shareholders' equity

(0)

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

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 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
Gain on sales of noncurrent assets(Increase) decrease in trade receivables(Increase) decrease 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 2022

Fiscal 2023

(For the year ended
March 31, 2022)(For the year ended
March 31, 2023)(66,745)
207,039

306,132
219,614(35,000)(35,000)(1,240)(6,229)79,023(182)(4,730)4,679
5,578(2,370)11,123
8,090
5,885
5,697
3,618
9,330
223,570
6,052(78,816)(79,060)
71,746(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(31,000)
31,000(28,700)
28,700Investing 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
Other
Net cash used in investing activities

263,090

227,786(71,100)
71,100(450,554)
2,864(34,079)(2)
62,164
3,467(153,049)(70,000)
70,000(427,192)
4,054(26,875)(3,499)50,302387(175,036)

Financing activities:
Net (decrease) 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
Redemption of bonds
Payments for long-term accounts payable-railway facilities
Purchases of treasury stock
Proceeds from sales of treasury stock
Cash dividends paid
Cash dividends paid to noncontrolling interests
Other
Net cash used in 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 the fiscal year745
200,000(200,000)
105,500(62,199)
40,000(68,160)(6,146)(0)336(25,610)(141)(3,502)(19,178)(100,481)
719,941
619,460(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

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.
In the fiscal 2023, 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 is disclosed on the basis of reportable segment classifications for the fiscal 2023.
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 2022 (For the year ended March 31, 2022)(Millions of yen)

Merchandise
Transportation
and Other

Real Estate

Other（Note 1）

Total

Reconciliations（Note 2）

Consolidated（Note 3）935,139

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

708,083

94,78240,99291,282

935,139

－

9,534

7,947

31,231

143,191

191,905(191,905)－

717,618

102,729

72,223

234,473

1,127,044(191,905)

935,139(8,327)(3,790)14,925

1,174

3,982

(2,274)

1,708

8,713,798

117,679

351,348

389,734

9,572,561(122,041)

9,450,519

Depreciation and amortization

182,415

3,951

16,3174,355

207,039－

207,039

Amounts of investments in equity in affiliates

10,752－－－

10,752－

10,752

Increase in property, plant and equipment
and intangible assets

485,006

4,701

6,183

5,025

500,917－500,917

Segment assets
Other

Note
Note

1. "Other" includes business of hotel, travel, advertising, rolling stock production, construction, etc., which are not included in any reportable segment.
2. Reconciliations are as follows：(1) The reconciliations amount of (2,274) million yen for segment profit (loss) is the elimination of intersegment transactions.
(2) The reconciliations amount of (122,041) million yen for segment assets includes corporate assets of 448,551 million yen and elimination ofintersegment balances of (570,593) million yen. Corporate assets, which are not allocated to reportable segments, principally consist ofinvestment securities and marketable securities. The elimination of intersegment transactions is related to intersegment receivables.
3. Segment profit (loss) is reconciled to operating income in the consolidated statement of operations.

Fiscal 2023 (For the year ended March 31, 2023)(Millions of yen)

Merchandise
Transportation
and Other

Real Estate

Other（Note 1）

Total

Reconciliations（Note 2）

Consolidated（Note 3）1,400,285

Operating revenues:
External customers
Intersegment transactions or transfers
Total

1,123,437

131,456

45,39899,992

1,400,285－

10,578

7,294

31,999149,435

199,308(199,308)－

1,134,016

138,751

77,398249,427

1,599,593(199,308)

1,400,285

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.

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
Stock 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 2022

Fiscal 2023

(As of March 31, 2022)(As of March 31, 2023)

324,933
1,813,068
45,30912,903
8,870
328,500
16,4201,750
53,261
2,605,018

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

8,315,734(4,643,333)
3,672,401
22,2683,694,669

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

133,118(38,646)
94,472
66
94,539133,053(41,717)
91,336
66
91,402

93,971(64,768)
29,202310
29,51389,728(63,128)
26,599148
26,748

1,471,195
37
672
1,471,905

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

742,256
121,004
65,362
24,401
250,729
152,456(5,200)1,351,010
6,641,638
9,246,656

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

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 large-scale renovation of the Shinkansen infrastructure
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 2022

Fiscal 2023

(As of March 31, 2022)(As of March 31, 2023)

182,561－
87,777
6,529
240,9219,814
2,594
13,843
7,184
20,06815,147
15,532
206,516
808,492

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

890,754436,6423,000,000
519,988
35,000168,404
17,4995,068,289
5,876,781

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

112,000

112,000

53,500053,50053,500053,50012,504

12,5049,475
3,081,000
158,999
3,261,978(102,205)
3,325,273

9,475
3,081,000
335,3143,438,293(102,205)
3,501,588

44,60144,601
3,369,875
9,246,656

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

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 (loss) - 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 (loss)
Non-operating income:Interest income
Interest on securities
Dividend income
Insurance income
Income from direct sales
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 (loss)
Extraordinary gain:Contribution for construction
Gain on sales of noncurrent assets
Reversal of provision for loss on guarantees for subsidiaries
and affiliates
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
Loss on valuation of stocks of subsidiaries and affiliates
Provision of allowance for doubtful accounts for subsidiaries
and affiliates
Other
Total extraordinary loss
Income(loss) before income taxes
Income taxes-current
Income taxes-deferred
Total income taxes
Net income (loss)

Fiscal 2022

Fiscal 2023

(For the year ended
March 31, 2022)(For the year ended
March 31, 2023)

657,2443,564
50,587
711,396

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

431,174
67,38833,149187,359
719,071(7,675)475,066
74,38737,978200,888788,321338,402

14,122555
14,67815,980689
16,669

2,381
416
2,119
3,346
8,264
6,413
(1,261)

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

452
2,410
3,657
2,889
1,143
－
3,255
13,809

458
2,115
4,767
1,830
1,905
2,986
2,191
16,25531,571
13,62034,516
6,889
86,597(74,048)

32,098
13,631
34,132
3,864
83,727
278,899

4,658
1,809

1,198
2,149

1,013

2,621

－

851

2
7,483

－
6,821

4,679
76
15,774

2,705
16
－

2,400

－

1
22,932(89,497)
166(21,487)(21,321)(68,176)

79
2,801
282,919
34,732
46,26180,994201,924NONCONSOLIDATED STATEMENT OF CHANGES IN EQUITY (Unaudited)
Fiscal 2022 (For the year ended March 31, 2022)(Millions of yen）

Shareholders' equity

Capital surplus

Commonstock

Balance at the beginning of the fiscal year

112,000

Retained earnings

Other retained earnings
Legal capitalsurplus53,500

Other capitalsurplus0

Total capital Legal retained
surplusearnings

53,500Reserve fortax purpose
reduction
entry

12,5049,475

Retainedearnings
brought
forwardGeneralreserve
3,081,000

Total retained
earnings

252,785

3,355,765

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

Net loss(68,176)(68,176)

Changes of items during the fiscal year

Purchases of treasury stock
Disposal of treasury stock00

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

－

－

0

0

－

－

－

(93,786)(93,786)

112,000

53,500053,50012,5049,475

3,081,000

158,999

3,261,978

Valuation and translation
adjustments

Shareholders' equity

Treasurystock

Balance at the beginning of the fiscal year

(102,624)

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

3,418,641

42,59342,593

Total equity

3,461,234

Changes of items during the fiscal year
Dividends from surplus(25,610)(25,610)

Net loss(68,176)(68,176)

Purchases of treasury stock

(0)

(0)

(0)

Disposal of treasury stock

419

419

419

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

2,007

2,007

2,007

419

(93,367)

2,007

2,007

(91,359)(102,205)

3,325,273

44,60144,601

3,369,875

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 capitalsurplus53,500

Other capitalsurplus0

Total 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

Purchases of treasury stock
Disposal 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
Dividends from surplus(25,610)(25,610)Net income

201,924

201,924(0)(0)

Purchases of treasury stock(0)

Disposal 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

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