CENTRAL JAPAN RAILWAY COMPANY
Integrated Report 2023

INDEX
2
3
4

Management Philosophy

Management Philosophy

JR Central’s Operating Revenues Composition
Market Area Characteristics and Transportation Capacity

Business Strategy

5
7
11
13

JR Central’s History
TOP MESSAGE
Positive Cycle of“ESG Management”
JR Central’s“ESG Management”
Highlight

19

1.Reinforcement of Earning Power by utilizing the latest technologies-Aiming for a safer, more convenient, and more comfortable railway-

23

2.Targets toward carbon neutrality and addressing
the TCFD recommendations

25

3.Initiatives for Human Resources to Support
JR Central’s Sustainable Growth-Human resources development, creation of a rewarding
workplace, and health and productivity managementGenerating“Economic Value”

31

Financial Data

Creating“Social Value”

S
E G

35
63
71

Social81

Corporate Data

Environment
Governance

Editorial Policy
JR Central strives to enhance dialogue with its stakeholders, including
shareholders and investors, in order to contribute to sustainable growth
and an increase in corporate value over the medium to long term. This
report is intended to deepen readers’comprehensive understandingof our company’s financial information and non-financial information,
including business strategies and ESG information. It is edited withreference to the“International Integrated Reporting Framework,”issued
by the International Integrated Reporting Council (IIRC), and“Guidance
for Collaborative Value Creation,”issued by the Ministry of Economy,
Trade and Industry. For ESG information, we refer to the“GRI Standards,”
issued by the Global Reporting Initiative (GRI).

[Cautionary Statement Concerning Forecasts, etc.]
Forward-looking statements and forecasts contained in this document
are estimates based on information currently available to JR Central andcontain risks and uncertainties. Examples of potential risks and uncertainties
include changes in economic trends, the business environment, consumer
trends, the competitive positions of JR Central and its subsidiaries, and laws
and regulations. This report is prepared based on information available asof the end of September 2023, in principle.
●The figures of financial information are rounded down to the nearest unit,
and other figures are rounded to the nearest unit.
●FY2022 signifies the fiscal year ended March 31, 2023.

1

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

Japan’
s main tansportation artery
JR Central’s mission is to undertake high-speed,large-capacity passenger transport between Tokyo,
Nagoya, and Osaka.“Japan’s main transportationartery”refers to this passenger transport. Since themain transportation artery runs through this area ofJapan, which plays an important role as the center ofthe country’s economy and culture, its stagnancy could
cause the entire economic and societal movement inJapan to also stagnate. JR Central will continue to carryout its mission of managing Japan’s main transportationartery today and in the future through operation of theTokaido Shinkansen and the Chuo Shinkansen.

Contribute to
the developmentof Japan’s maintransportationartery and social
infrastructure

Social infrastructureWith a broader perspective, JR Central also
undertakes the mission of supporting social
infrastructure. That is, along with the managementof Japan’s main transportation artery, we takea locally oriented approach in operating a
network of conventional lines in the Tokai Region,
centered on the Nagoya and Shizuoka areas, andmanage affiliated businesses focused on the local
communities, thereby supporting the people inthese areas. We will remain committed to operating
conventional lines while managing and further
enhancing our affiliated businesses.

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

2

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

4

10

3

%

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

9

Hiroshima

NagoyaShin-Osaka%

HakataFY2021

FY2022

FY2021

FY2022935.1

1,400.2

657.2

1,069.9billion yen

billion yen

OkayamaTransportation

Transportation

76

80

%

%

366.0 km

Tokaido Shinkansen

Tokaido Shinkansen

90

92

%

552.6 km%

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.
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%

Population

65.7

%

Gross
prefectural
product* Tokai Kiosk Company and JR-Central Passengers Co., Ltd. merged in October 2023.

Real Estate[FY2019]

Major affiliated companies
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

50

100（%）* 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

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

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.

558

Germany
JR Central’smarket area
U.K.

311

India

310

424
382

France(nominal GDP)

0
JR Tokai Takashimaya Co., Ltd.
JR Tokai Corporation
JR CENTRAL RETAILING PLUS Co., Ltd. *

1,557

Japan

[January 1, 2023]

Major affiliated companies

2,331

China

Area
[January 1, 2023]%

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

(Trillion yen)

U.S.A.

61.4

Merchandise and other

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

Other

23.7
Central Japan Railway Company
JR Tokai Bus Company"Tokaido Shinkansen"

1,174.9 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.

Transportation

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

billion yen

billion yen

Tokaido Shinkansen

219

Brazil205

Canada

189

0

200

400

600

Airlines

40※1

Approximately

340,000seats* 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)
Railway

Tokyo
Tokyo area Nagoya area

Approximately

Other

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.

11 times

100

Nagoya Osaka

85

15%

Okayama Hiroshima Hakata%(38,000 passengers/day)Tokyo area Osaka area
(74,000 passengers/day)

75

Tokyo area Okayama

20

Airlines

JR West

JR Central%

30

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.

800 1,000 1,200 1,400

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)(Ten thousand seats)

297

Italy

%

25%

(4,000 passengers/day)

69

Tokyo area Hiroshima

10(7,000 passengers/day)

11

%

※2
Approximately

0Tokyo area - Fukuoka

31%

%

89%

(15,000 passengers/day)

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.

*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

Highlight

Business Strategy

Generating "Economic Value"

Corporate Data

Creating "Social Value"

JR Central’s History

Business Strategy
2015

JR Central’s History

Increased the maximum speed to 285 km/h

2020

2020

"12 Nozomi Timetable"

Put N700S into commercial service

2014

Since its establishment, the JR Central Group has worked to improve its
transportation services and increase revenues, placing top priority on safety, while atthe same time working to ensure operational efficiency and significantly strengthen
its management base. We will continue to maintain sound management and stabledividends for the future and strive to further develop our business.

1,188.3

1,215.3

1,240.6"10 Nozomi Timetable"

1,052.3

394.0

383.7

25.1

32.6

‘92.3

‘94.3

2008

255.6

219.4
200

159.7

132.7

122.4
91.7

42.0

37.6

2008

1.7

Made Nippon Sharyo, Ltd. a
consolidated subsidiary

0

-51.9
-184.7

JR Central Towers were opened.

-200-201.5‘96.3

JR Central Established by the Privatization and Breakup of JNR

‘98.3

‘00.3

‘02.3

‘04.3

‘06.3

‘08.3

‘10.3

‘12.3

Operating revenues (billion yen)

JR Central Consistently Improving Transport
Services on the Tokaido Shinkansen‘16.3

Series 100

‘20.3

‘22.3

‘23.3

JR Central Establishes a Solid Management Baseand the increase in maximum speed to 285 km/
h in 2015, the shortest travel time between Tokyo
and Osaka has now been reduced to 2 hours and21 minutes. With the timetable revision of March
2020, we realized the "12 Nozomi Timetable,"which operates up to 12 Nozomi trains per hour
(1 every 5 minutes on average) during busy hours.
In July of the same year, we began commercial
operation of the new N700 Series Shinkansen,
which incorporated the results of our accumulated
technological development over the years, making
the Tokaido Shinkansen even more convenient touse.

Series 300

Series 700

FY1987FY2019FY2022

60

17

24

45.8

36.0

378

356

285

285

1,844.6

1,400.2

656.1

374.5

397.8

219.4

1.8 ※3(-3.6 trillion yen)

1.9

Railway operation accidents(cases per year)

Passenger volume(significantly decreased)

27.9(10,000 people per day)

Number of services(1.6 x)231(trains per day)Maximum speed(1.6 x)220(km/h)

Operating revenues(+65km/h)

874.6

※1

71.5

※1

Net income (loss) attributable toowners of the parent (billion yen)

16.5

※1

Long-term debt (trillion yen)

5.5

※2

(billion yen)

Operating income (loss)(billion yen)

※1 Non-consolidated figures

Series 0‘18.3

Net income (loss) attributable to owners of the parent (billion yen)

Operating income (loss) (billion yen)

Operatingresults

With the inauguration of the Tokaido Shinkansen in
1964, the travel time between Tokyo and Osaka was
reduced to 3 hours and 10 minutes (4 hours at the time of
inauguration) from 6 hours and 30 minutes. Furthermore,with the introduction of the "Nozomi" in 1992, that time
was reduced to a minimum of 2 hours and 30 minutes.
In October 2003, the investment in rolling stock andground facilities that we had constantly engaged in for
approximately 15 years culminated with the upgradingof the maximum speed of all Tokaido Shinkansen trains
to 270 km/h and the drastic timetable revision, whichallowed a maximum of seven "Nozomi" services operatingeach hour.
With the introduction of the "10 Nozomi Timetable(operating up to 10 Nozomi trains per hour) in 2014

‘14.3

TokaidoShinkansen

On April 1, 1987, JR Central was established as a result of the privatization
and breakup of the Japan National Railways (JNR).
JNR, the predecessor of JR Central, was created in 1949, taking over Japan's
railroad business, which was a state-run business at the time, as a public entity.
Although JNR supported Japan's development through the provision of efficienttransportation for the Japanese people, due to its poor management in theform of a public corporation, it incurred debts of over 30 trillion yen, largely asa result of the creation of new lines with unclear management responsibilities
and a disregard for profitability. At the same time, it was in a serious condition
where it was unable to respond quickly to the market trends.
Under these circumstances, the "JNR reform" was undertaken to review therole of the railroad business operated by JNR for the future. In 1987, as partof administrative reform, JNR's operations were taken over by 11 successor
corporations, with the objective of restructuring the railroad business as ameans of transportation for thepeople and further developing it
for the future by breaking up andprivatizing JNR's transportation
operations to ensure soundcorporate management.
Since the breakup andprivatization of JNR, JR Central
has steadily progressed as a
private company while taking
Photograph from the time of privatization
over the public and social
mission that JNR had assumed. “Hida #1”departure ceremony (April 1, 1987, at Nagoya Station)
CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

374.5

293.4

*1 The figures for the period between ‘88.3 and ‘89.3 are non-consolidated figures of JR Central because consolidated financial results had not yet been announced in this period.
*2 The figures for the period between '21.3 and '23.3 decreased because of the impacts of the COVID-19 pandemic.

5

400

337.4

344.4

2000

Took over the Tokaido Shinkansen
facilities

397.8

395.5

Started the "EX-IC" service for theTokaido Shinkansen

1991

‘90.3

494.6

372.5

370.4

72.2
26.2

600

935.1
823.5

403.7
371.0

● Shinagawa station was opened.
● The maximum speed of all Tokaido Shinkansen trains increased to 270 km/h.
● The train timetable was shifted to that centered on Nozomi.

56.4

656.1

434.4

Central Japan Railway Company (JRCentral) was established.

114.3

1,400.2
662.0

578.6

Expanded the "Express Reservation" service to thetotal length of Tokaido and Sanyo Shinkansen lines

2003

‘88.3

Started the "Smart EX" service for the Tokaido
Shinkansen and the Sanyo Shinkansen

1,221.6

1987

1987

2017

1,278.3

325.6

16.5

1,508.3

1,384.0

288.4

66.9

800

1,486.6

1,467.6
1,366.9

Launched the Express Reservation
service for Tokaido Shinkansen

874.6

71.5

1,652.5

1,559.4

2001

800

1,738.4

Put N700A into commercial service

2006

1,000

1,844.6

1,822.0

2013

Series N700

※2 Figures for FY1991

N700A(2.1 x)(9.2 x)(24.1 x)※3

※3 Excluding long-term debt for the Chuo Shinkansen

N700S

Transition of
Shinkansenrolling stock
CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

6

Business Strategy

Highlight

Generating "Economic Value"

Corporate Data

Creating "Social Value"

TOP MESSAGE

My approach to management of JR Central

Top Message
Business Strategy

We will continue to firmly fulfill

the development of Japan’s maintransportation artery and social
infrastructure” into the future.

As a railway operator, our top priority is safety. Trust in railway
companies is built on the daily continuation of safety. We will constantly
pursue safety in both physical and non-physical terms by steadily
implementing capital investment and enhancing the competence of ouremployees through employee education and training.
The market area of JR Central’s railway business, which is the areaconnecting Tokyo, Nagoya, and Osaka, is Japan’s main transportationartery, which supports its economy and is in very strong demand. We haveaddressed this strong demand and grew our earnings by enhancing thetransportation capacity of the Tokaido Shinkansen on the basic premisethat safety is ensured and working to enhance customer conveniencethrough measures such as improving the EX Service. However, we faceda very challenging business environment during the three years of the
COVID-19 pandemic that began in 2020. In April 2020, under the declaredstate of emergency, the passenger volume of the Tokaido Shinkansen andconventional line express trains dropped by nearly 90% from the previous
year. We felt a great sense of urgency as we posted significant deficits inboth FY2020 and FY2021. Passenger volume and Group company earnings
have recovered to a certain extent since FY2022, but the pandemic
drastically changed people’s lifestyles and workstyles, urging us to lookto new directions to earn revenue. This led us to develop a strategy of“Reinforcement of earning power ,”which consists of two pillars:“revenue
expansion”and“reform of business operations .”In October 2022, we
presented our future vision of railways. By making company-wide efforts
to realize this vision and generating cash flow, we will continue to create apositive cycle of investment and service improvement. As our employees,

including those of Group companies, work together to take on thechallenge of the evolution and transformation of“Reinforcement of earning
power,”I hope to build a more resilient management platform for thecompany than before the pandemic.

Reinforcing management resources for a positive investment
and service improvement cycle
Reinforcementof earning
power
Revenue
expansion

Reform ofbusiness
operations

Contribution to society
Cash flow generation

our mission of “contributing to

I am Shunsuke Niwa, the new President of Central Japan Railway
Company as of April 1, 2023. I would like to express my sincere gratitude
for your unwavering support of the management of the JR Central Group.
I would first like to explain my approach to management of JR Central.

Efficient provisionof safe and good
serviceCompany growth

positive cycle
Investment in
human resources,
technology,
equipment

Meanwhile, we are vigorously pushing ahead with the Chuo Shinkansen
Project, as nearly 60 years have passed since the launch of the Tokaido
Shinkansen, our revenue pillar, necessitating thorough preparedness
against future aging and potential large-scale disasters. By introducing a
superconducting maglev system to the Chuo Shinkansen, the overwhelming
travel time reduction will turn the three major metropolitan areas into asingle megalopolis, significantly contributing to the revitalization of theJapanese society and economy. We are devoting our full efforts toward
the commencement of service firstly to Nagoya while placing emphasis on
construction safety, environmental protection and coordination with local
communities.

Creating a positive cycle of “ESG management” to contribute to thedevelopment of Japan’s main transportation artery and social infrastructure
JR Central’s idea of ESG management is a management style ofpursuing growth of the company while simultaneously generating
economic value, such as profits and cash flows, and creating social
value, which is the realization of a sustainable and prosperous society,through business activities. In light of this understanding, we have beenpracticing ESG management by generating economic value and creatingsocial value simultaneously based on solid governance to enhance thetrust of all stakeholders as we aim for long-term development under ourmanagement philosophy of contributing to the development of Japan’smain transportation artery and social infrastructure while at the same time
establishing a safety-first corporate culture and ensuring soundness ofmanagement.

Shunsuke Niwa,
President and Representative Director

7

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

At the same time, we have contributed to realizing a more comfortablesociety and developing local communities by pursuing service safety,punctuality, and comfort in our business activities centered on the Tokaido
Shinkansen, our main line of business. We have also continually sought toenhance environmental superiority by incorporating the latest technologies
while promoting the use of railway transportation, which inherently has

Specifically, we have been continually pursuing economic value
by meticulously improving the punctuality and comfort of railway
transportation services of the Tokaido Shinkansen, the main transportationartery of Japan, and conventional lines in the Tokai region, with safety
as our top priority. We have also developed Group businesses with highsynergy with the railway business, worked to reduce costs, improve
efficiency, and Reinforcement of earning power, and secured cash flows bysteadily increasing revenues and profits.

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

8

Business Strategy

Highlight

Generating "Economic Value"

Creating "Social Value"

Corporate Data

TOP MESSAGE

Top Message

Business Strategy

excellent environmental performance. The results of these businessactivities have led to the achievement of the“sustainable development”
goals of the SDGs in the form of building a safe and resilient infrastructure,promoting innovation, and mitigating the impact of climate change.
Furthermore, we have continually created social value by focusing on
developing human resources that support the operation of the railway
business and making daily efforts to achieve the SDGs from the perspectiveof promoting gender equality, creating a motivating workplace, andpromoting employment.

Using the abovementioned cash flows, i.e., economic value,as the source, we have developed even safer, more resilient andenvironmentally superior infrastructure, improved services, developed
human resources that support the infrastructure and services, andpromoted innovation to create social value. This has led to a positive
cycle of providing better services and attracting more users. This
positive cycle has also made it possible for us to realize the ongoing
Chuo Shinkansen Project.

Enhancing the strengths of human resources to become an organization full of momentum
Since joining JR Central in 1989, I have been long involved in humanresource development and labor affairs in various divisions, fromdepartments close to the front line to the head office. This is why I havea strong desire to maximize and utilize the power of“people.”“People,”“goods,”“money,”and“information”are often cited as the managerial
resources of a company. It is“people”who think of and implement
measures to generate cash flows, and human resources are a company’sgreatest business asset. The basic philosophy of our human capitalmanagement is to invest effectively in the education and training ofrecruited human resources and make the most of their improved abilities.
Many high-potential employees work at JR Central and Group companies.
As I engaged in discussions with numerous employees, including young
and mid-level employees, to overcome the difficult environment brought
about by the pandemic, I met many employees who were full of ideas anda spirit of challenge, which made me convinced that we have the potential
to overcome the difficult situation. I intend to maximize the potentials of ourhuman resources and utilize it in the management of the company.

Based on these values, I will develop a corporate culture of“thinking
freely, discussing a lot, and tenaciously getting the job done”while at thesame time maintaining discipline and values such as teamwork and unity,
which have sustained JR Central in the past. As the environment around uschanges, I will work to create an organization full of momentum that candevelop and implement various measures despite a difficult environment.
Diversity of discussion is essential to creating a strong organization.
Particularly since we provide rail and other highly public services thatare used by a wide range of customers, I believe it is vital that all of ouremployees from diverse backgrounds fully exercise their skills and play anactive role in the company. By enhancing support systems for balancing
work and life events such as childcare and nursing care and working
on the Women’s Empowerment Project, I will enable all employees,
regardless of gender, to be motivated and fulfilled in their work more thanever for a long time and enrich their professional lives as they contributeto the company’s development.

Fulfilling our role as a railway company rooted in the local community
Our conventional lines centered in the Nagoya and Shizuoka areas
serve as a means of daily transportation, including commuting to and fromwork and school, for local customers. Due to the development of road
networks and the proliferation of telework, the environment surrounding
conventional lines has become difficult. However, JR Central has fulfilled its
role as a local infrastructure provider by improving its operating efficiency
and services. Between 2022 and 2023, we introduced the new limited
express rolling stock Series HC85 for our express trains Hida and Nanki.
We hope that more customers will enjoy a comfortable and joyful trip.

the Linear Chuo Shinkansen Shizuoka Section of the Construction Site,organized by the Ministry of Land, Infrastructure, Transport and Tourism.
With regard to the impact on the use of water resources of the Oi
River, we have been working to provide clear-cut explanations to local
communities, flesh out ways to address and monitor risks, and realize
methods to return to the Oi River the same amount of water as the amountof spring water flowing out from the tunnel to outside Shizuoka Prefecture
on an exceptional basis during certain periods of construction, basedon the interim report on the Oi River water resource issues prepared in
December 2021 by the Expert Conference.

Promoting the use of environmentally friendly railways to contribute to global
environment conservation
Railways have the excellent characteristic of higher energy
efficiency and lower impact on the global environment than othermeans of transportation. I believe that railways can play a significant
role in realizing a sustainable society. In order to further enhance
this characteristic of railways, we have been implementing various
measures, such as introducing energy-efficient rolling stock. Given thegovernment’s 2050 carbon neutrality goal, we aim to reduce CO2
emissions to substantially zero to further increase the environmental
superiority of railways. We will also reduce the impact on the global
environment by reducing waste and recycling resources, including theeffective use of“Tokaido Shinkansen recycled aluminum.”

announced in November 2023. We believe this is a social contributionthat is possible only for a railway company, utilizing previously unused
assets to generate renewable energy.

Recent initiatives include the commencement of solar power
generation using the Tokaido Shinkansen’s trackside slopes, which we*TCFD stands for Task Force on Climate-related Financial Disclosure.

In addition, we endorsed the recommendations of the TCFD* in
May 2021 and in April 2022 conducted and disclosed the results of aquantitative analysis on facility damage of the Tokaido Shinkansen due
to the increase in floods. This time, we have expanded our disclosure
since we have completed our analysis of profit loss caused by heavy
rain. We will continue to identify the risks and opportunities related toclimate change and promote information disclosure.

Governance with an awareness of the balance among stakeholders
The railway business serves the public good and is supported byvarious stakeholders. We will enhance the trust of all stakeholders without
focusing on certain interested parties and sustainably grow as a company
to continue fulfilling our mission of“contributing to the development ofJapan’
s main transportation artery and social infrastructure.”Based on
this stance, our basic policy for shareholder return is to maintain soundmanagement while securing internal reserves to steadily promote various
projects, including the Chuo Shinkansen Project, and to maintain stabledividends. Based on this policy, we continued to pay a certain amountof dividends even in periods when we posted a net loss due to thepandemic. We will first make efforts to quickly restore the business to its
pre-pandemic state and then vigorously promote the various initiatives
mentioned earlier to exceed our previous state of business.

Through long-term capital investments and human resource
development, we will refine the characteristics of the Tokaido Shinkansen,
Japan’
s main transportation artery, which are safety, punctuality, highspeed, and frequency, and continue to strengthen the conventional lines
in the Tokai region that form a network with the Tokaido Shinkansen, as
well as Group businesses. In this context, we are promoting the Chuo
Shinkansen Project to continue fulfilling our mission. I believe that the
project will stabilize the company’s management into the future andsecure profits for all stakeholders, including our shareholders. I would
like to thank all of our stakeholders for their continued support andunderstanding of the JR Central Group.

Railway stations, where train passengers and many other people gather,
are important hubs for local communities. JR Central has taken advantage
of such favorable locations to develop offices, commercial facilities, andhotels, significantly enhancing the appeal of railway stations and generating
revenue. In October 2023, we also launched a point service that can beearned and used at the Group’s commercial facilities. We will continue todevise ways to provide services that further enhance the satisfaction of theresidents in local communities around railway stations.
Meanwhile, the Chuo Shinkansen faces the issue of not being able tostart construction in the Southern Alps Tunnel Shizuoka construction area
due in part to the concerns of local residents regarding the impact on thewater resources of the Oi River and the environment of the Southern Alps.
However, we have been committed to detailed two-way communication
to resolve the concerns and anxieties of the local residents in light ofthe scientific and engineering discussions at the Expert Conference on

9

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

10

Business Strategy

事業戦略Strategy
Business

Positive Cycle of "ESG Management"
Creating Social Value

Highlight

Generating "Economic Value"

JR Central’s "ESG management"

Generating Economic Value
Cash ﬂow generation

Sustainable growth

Priority themes (social background)
Building safe andresilient infrastructure(barrier-free, inbound demand)

Local community
revitalization(development of local communities and economy along the lines)

1 Safety measures(climate change, resource shortage)

2 Service improvement measures(Ability to provide better service)

enhancement
3 Eﬃciency(Ability to work eﬃciently)
Pursuit ofenvironmental advantages

4

Tokaido Shinkansen

Network eﬀect(economic growth, technology base establishment)●

Chuo Shinkansen●

Reform of business
operations

Human resources
development●

Technologicaldevelopment●

Capital investment

Shareholder
returns(long-term stabledividends)

Synergy(employee motivation, diversity of human resources)

Innovation advancement

Revenue expansion

Investment
for the future

Synergy

Conventional lines

Group businesses

Social infrastructure

Comfortable workplaceestablishment●(Ability to work safely)

Japan’
s maintransportation artery

Global environment
preservation

Reinforcementof earning power

Key business activities(massive earthquakes, intensiﬁcation of natural
disasters, new infectious diseases, cyber security)

Providing accessible
transportation infrastructure

Corporate Data

Creating "Social Value"

Reinforcementof foundation

Management capital (human resources, technology, equipment, etc.)
Appropriate governance

Local
communities

11

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

Globalenvironment

Employees

Stakeholders

Customers

Shareholders

Business
partners

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

12

Business Strategy

Highlight

Generating "Economic Value"

Corporate Data

Creating "Social Value"

JR Central’s “ESG management”

2 S er vic e i mpro veme nt mea su re s
Since its establishment, JR Central has been working continually to
improve its railway services. For the Tokaido Shinkansen, our main lineof business, we are working to improve our transportation services,focusing on speed and frequency, while introducing new types of rollingstock and improving ground facilities with safety as our top priority. In
2003, with the opening of Shinagawa Station, the maximum speed of
all trains was set at 270 km/h, and we shifted to a timetable centeredon the Nozomi. In 2020, the maximum speed of all trains was set at
285 km/h, and we established a timetable with 12 Nozomi trains. In
addition to increasing the speed and frequency of our services, we arealso working to improve the convenience of our“EX Service”“Express(
Reservation”and“Smart EX”), an online reservation and ticketlessboarding service. We have also been working to improve the servicesof our conventional lines by, for example, launching new types of rollingstock and increasing the frequency of services through such launches.
We are also working to provide barrier-free access and support foroverseas visitors to make it easier for customers to use our services.
On the other hand, in the non-railway business, we are striving tostrengthen our competitiveness and sales capabilities by enhancing ourstore assortments, improving services, renovating commercial facilities
at stations and continuously making effective use of company-owned
land, focusing on areas where synergies with railways can be expected,

JR Central’s "ESG Management"

JR Central’s Key Business Activities
JR Central’s basic policy is to carry out the following from a
medium- to long-term perspective, based on its management
philosophy of contributing to the development of Japan’s maintransportation artery and social infrastructure: To maintain anddevelop the Tokaido Shinkansen, Japan’s main transportation artery,
and the conventional line network in the Tokai region in an integrated
manner, ensuring safe and reliable transportation as a top priority;
to operate“three generations of railways”by constructing the Chuo
Shinkansen to make Japan’s main transportation artery a dual system;and to work together with Group companies to develop related
businesses that have synergies with railways.
Through business strategies based on this basic policy, we havebeen practicing ESG management, which is the generation of

13

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

N700S

3 Gr ea ter e ff ic ie ncy
economic value, such as profits and cash flows, and social value,
which is the realization of a sustainable and prosperous society,simultaneously based on solid governance to enhance the trust of all
stakeholders. This has led us to achieve sound management, stabledividends and sustainable growth as a company.
For the JR Central Group, with the railway business as its corebusiness, it is crucial to strengthen its competitiveness by developing
human resources, making capital investments and developing
technologies based on a long-term vision, ensuring safe and reliabletransportation as a top priority. To this end, our business activities
focus on (1) safety measures, (2) service improvement measures, (3)greater efficiency and (4) pursuit of environmental superiority.

1 S a fe t y mea sur es
The greatest mission of the railway business is to ensure safety at all
times and in all circumstances. Regardless of past performance, once
a company causes a major accident, trust in the company is lost at
once, and even its very existence may be threatened. With this frameof mind, we have been concentrating our greatest energy into safetyassurance from both physical and non-physical perspectives ever since
our establishment. In terms of non-physical measures, we have been
continually building systems to ensure safety, mainly by establishingrules and regulations. Furthermore, human resource development is
indispensable to put these systems into practice. Therefore, we promote
initiatives to deepen employees’understanding of the nature of duties
and rules by proactively thinking about them, in addition to raising
their awareness of discipline so that they can comply with the rules
themselves. Additionally, we repeatedly perform practical training so
as to be able to respond to various situations expected in the eventof natural disasters, unforeseen circumstances, or other extraordinary
events.
In terms of the physical aspect, capital investment is also important
to ensure safety. The majority of JR Central’s capital investment todate has been safety-related, totaling more than 4.4 trillion yen since
its establishment. For example, for the Tokaido Shinkansen, we haveupgraded the ATC (Automatic Train Control) system, implemented
earthquake countermeasures such as derailment prevention guards
and an earthquake disaster prevention system, and carried out large-such as the integrated management of the JR Central Towers and the
JR Gate Tower. Leveraging fresh perspectives and flexible ideas, we willcontinue to hone our“ability to provide better service”in the railway
and non-railway businesses, including the Chuo Shinkansen, which isunder construction.

scale renovation to maintain and improve the integrity of Shinkansen
infrastructure. For conventional lines, we have introduced ATS (Automatic
Train Stop)-PT in all train lines, made various structures quake-resistant,taken measures against heavy rainfall and falling rocks, and improved
safety devices on grade crossings. In addition, we are working continuallyon security measures at railway stations, on trains and at importantfacilities, and technology development also focuses on safety-related
themes to enable such equipment. Also, the Chuo Shinkansen Project,which we are currently working on, is a project aimed at thoroughly
preparing for the future aging of the Tokaido Shinkansen and potential
large-scale disasters. Looking ahead, we will continue to work on both
physical and non-physical measures to hone our“ability to work safely,”
which is the most important aspect in the railway business.

Crew pointing and calling

Large-scale renovation

In addition to increasing revenue by promoting the use of ourservices through safety measures and service improvement measures,
we have been working to improve efficiency and reduce costs inall aspects of business execution, including capital investment, byutilizing the knowledge and technical capabilities we have cultivatedand thoroughly pursuing rationality in our business practices without
being bound by traditional ways of working. As a result, we havebeen able to steadily improve our operating profit margin by reducing
fixed costs even when operating revenues were increasing, as in thedecade or so before the pandemic.
We are also promoting“reform of business operations”to build themost desirable operational system by making full use of ICT in orderfor the JR Central Group to firmly fulfill its social mission well into
the future. Through this effort, we aim to reduce non-consolidated
recurring expenses related to the Shinkansen and conventional lines
by about 80 billion yen, or approximately 10%, over the next 10

to 15 years. With regard to the Chuo Shinkansen Project, we willcontinue to improve our“ability to work efficiently”by, for example,
continually reducing costs while ensuring safety in all aspects, such as
construction, operation and maintenance.
Pre-pandemic operating revenues and expenses (non-consolidated)(Billion yen)

1,600

1,464.8

1,400
1,143.9
1,200
1,000
869.8
797.1

800
600
400

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 (FY)Operating expenses

Operating revenues

4 Pu rsu i t o f e nvi ron men tal su pe ri or it y
Preservation of the global environmental is an important issue for
JR Central to achieve sustainable growth while earning the trust ofsociety. Inherently, railways have the advantage of being more energy
efficient and having less impact on the global environment than othertransportation modes. In order to further reduce environmental impact,
JR Central is working to further improve the energy efficiency of its
railway operations, such as by making its rolling stock more energy
efficient.
In addition to the above, we are working to reduce CO2 emissions
further to achieve carbon neutrality by 2050. Specifically, we haveintroduced Series HC85 cars with lower environmental impact andconducted biofuel experiments to reduce direct CO 2 emissions
associated with the use of fuel, which account for approximately 5% of
our total emissions. We will also begin simulated driving tests combining
vehicle driving test equipment and hydrogen supply development todevelop hydrogen-powered vehicles. Research and development will
be continued for storage battery vehicles. As for indirect emissions
associated with the use of electricity, which account for the remaining
approximately 95%, we will introduce additional energy-efficient rollingstock, such as N700S and Series 315, in addition to decarbonization

efforts across the entire power source division in Japan. We will also
work to utilize renewable energy. Furthermore, we have expressed ourendorsement of the recommendations of the Task Force on Climaterelated Financial Disclosures (TCFD), which was established by the
Financial Stability Board (FSB). We will identify the financial impact ofrisks brought about by climate change, among others, and promote
information disclosure based on the TCFD recommendations.

Hybrid-powered limited express rolling stock, Series HC85
CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

14

Business Strategy

Highlight

Generating "Economic Value"

Creating "Social Value"

Corporate Data

JR Central’s “ESG management”

Positive Cycle of“ESG management”

Creating“Social Value”

JR Central generates both“economic value”and“social value”by

At the same time, improving our business, especially in key

practicing the above key business activities. The generation of thesebusiness activities, is also directly related to the creation of social

two kinds of value is not independent, but rather mutually beneficial,value. Building a resilient infrastructure, with our highest priority

contributing to the virtuous cycle of ESG management.

on ensuring safe and reliable transportation, and supporting

As mentioned earlier, we have been generating economic value

Japan’
s main transportation artery and regional transportation as

in the form of profits and cash flows by striving for efficient businesssocial infrastructure, as well as developing Group businesses, will

operation while significantly increasing revenues as we refine ourcontribute to the sustainable development of Japan’s economy andservices with safety as our top priority.

local communities [S]. In addition, railways have the advantage ofUsing such economic value as a source of funds, we havebeing more energy efficient and having less impact on the global

invested generously in human resource development, technologicalenvironment than other transportation modes. In other words,

development and capital investment from a long-term perspective

we believe that promoting the use of railways while pursuing

to develop our business sustainably, and we have strengthened theenvironmental superiority will greatly contribute to the preservation

foundation for operating our business by enhancing managementof the global environment [E]. In addition, by conducting thesecapital. We use the management capital accumulated to implement

corporate activities under appropriate governance [G], we believe wevarious measures while re-investing it mainly in key business activities

can achieve sustainable growth as a company while increasing theand to continually strengthen three kinds of ability--the ability totrust of all stakeholders by maintaining sound management, returning

work safely, the ability to provide better service and the ability to

profits to shareholders based on our basic policy of maintaining stable

work efficiently--to further improve our business and generate greater

dividends, and building long-term, stable relationships with employees

economic value.

and business partners.

Generating“Economic Value”
We have used the economic value generated through our businessand stable dividends and increasing the trust of all stakeholders at

to generate even greater economic value by strengthening our

the same time. We are currently making efforts to reinforce earning

profitability through the continual refining of the Tokaido Shinkansen

power, which consist of the two pillars of revenue expansion andand other businesses while improving our operational efficiency atreform of business operations, in order to continue fulfilling our social

the same time. Comparing FY2002, before the opening of Shinagawa

mission into the future.

Station of the Tokaido Shinkansen, and FY2018, before we wereaffected by the pandemic, operating cash flows (consolidated)

Growth of operating revenues and operating cash flows (consolidated)

increased 57%.

(Billion yen)

The cash flows thus generated have been used to alleviate ourinterest burden by reducing the long-term debt that we have incurredsince our establishment. They have also been used to enhanceinvestment in human resources, technology and equipment and toconstruct the Chuo Shinkansen since FY2014. In the meantime, wehave continued to pay stable dividends as a means of returning profits
to shareholders.

2,500(Billion yen)

FY2002‒2018
Operating revenues: Up 38%●Operating cash ﬂows: Up 57%

750

●

2,000

600

1,500

450

1,000

300

500

150

with a long-term outlook while maintaining sound management

15

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

S

Environment

GovernanceSo c ial

S Bu il di ng saf e an d re sili en t i n fra st ruc t ure
Since its inauguration in 1964, the Tokaido Shinkansen has
supported the growth of the Japanese economy for more than half acentury, with many people using it as the main transportation artery
connecting Tokyo, Nagoya and Osaka, the three largest metropolitan
areas in Japan. This region is only about 20% of Japan in terms ofarea, but it is an agglomeration unparalleled in the world with a highconcentration of population and generating more than 60% of Japan’s GDP. The Tokaido Shinkansen is indispensable infrastructure thatboasts an overwhelming presence over other modes of transportation,
as it plays a role in providing transportation services, which are thebasic elements of the economy and society. We aim to build safe andresilient infrastructure that can protect Japan’s main transportationartery at all times.
To that end, we have been dedicating our greatest energy inaccident prevention in both physical and non-physical aspects eversince our establishment, developing rules and systems to prevent
accidents, developing employees and improving their skills throughtraining, and continually upgrading various safety devices. As a result,the Tokaido Shinkansen has had no accidents resulting in the deathor injury of passengers on board since its inception, and the numberof rail accidents, including those on conventional lines, has decreased
significantly since our founding.
As Japan is an earthquake-prone country, there is concern in ourmarket area about the imminence of earthquakes occurring directly
beneath the Tokyo metropolitan area and the Nankai Trough. In
recent years, addressing the intensification of natural disasters has
also become a major issue. Since our establishment, we have beenpromoting sufficient earthquake and natural disaster countermeasuresfrom both physical and non-physical perspectives and have built
resilient infrastructure that can withstand large-scale earthquakes
and severe natural disasters by working continually to strengthen ourfacilities as well as conducting timely and appropriate operations.

In terms of systems, we are taking measures such as creating dual
systems for equipment and securing backups to ensure that service
provision to customers and the execution of internal operations are
not disrupted in the event of an earthquake or other disaster ordue to system failures. We have also taken all possible measures toprotect against cyber attacks, including setting up systems critical totrain operations as independent systems with no contact with theoutside.
Additionally, we are promoting the Chuo Shinkansen Projectusing the Superconducting Maglev System to make Japan’s maintransportation artery a dual system as a fundamental measure against
the aging of the Tokaido Shinkansen and potential major disasters.
This will allow us to further reduce management risk to stabilize ourmanagement base and continue to fulfill our founding mission ofserving as Japan’s main transportation artery.
Distribution map of the estimated greatest seismic intensity of a huge Nankai
Trough earthquake

Chuo Shinkansen

Nagoya Station

Shinagawa Station

Seismic intensity
class

Shin-Osaka Station

Tokaido Shinkansen

7
Upper 6Lower 6Upper 5Lower 5
4

Source: Prepared by JR Central based on“Countermeasures against a Large Nankai Trough Earthquake(Final Report)”by the Central Disaster Management Council (May 2013)

S Prov id in g a cce ssi ble t ra nsp o rta ti on i nf ra st ruc t ure

Such ability to generate economic value is a prerequisite for ourability to operate our business, including the Chuo Shinkansen Project,Social00
2002
Operating revenues (left scale)

2018

(FY)

Operating cash ﬂows (right scale)

Based on relevant laws, such as the so-called Barrier-Free Act,
JR Central has been cooperating with the government and relevant
municipalities to jointly develop, maintain and improve rolling stockand facilities to enable all passengers to use railways safely and witha sense of security. We will make continuous efforts to address theever-changing demands of society as appropriate.
We also believe that providing overseas visitors with a chance
to visit the rich tourist attractions along our railway lines is an
important issue from the perspective of increasing railway revenues
and revitalizing local regions along the lines. Therefore, JR Central is
implementing a variety of marketing measures to encourage tourists
to Japan to enjoy the areas along our railway lines casually andconveniently. We are also working on increasing and enhancing
facilities and services to ensure smooth access for overseas visitors
to our stations and railways. We will continue to make every effort toensure that our stations and trains are safe and accessible.

Wheelchair space on N700S

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

16

Business Strategy

Highlight

Generating "Economic Value"

Corporate Data

Creating "Social Value"

JR Central’s “ESG management”

S L o c a l c ommuni t y rev i t al i za ti o n
In addition to the Tokaido Shinkansen, which supports Japan’seconomy and society, JR Central operates conventional lines, mainly
in Nagoya and Shizuoka, and develops related businesses mainly inthese areas in an integrated manner, thereby fulfilling its mission associal infrastructure that supports people’s lives. The conventionallines operated by JR Central, encompassing 12 railway sections, cover
approximately 1,400 km in operating kilometers, which is approximately
2.5 times the distance of the Tokaido Shinkansen, and play a role asa means of transportation for daily life, including commuting to andfrom work and school. While increasing the frequency of services andlaunching new types of rolling stock, we have been working to maintainour transport network and provide services that are easy to use,complementing each other in combination with the Tokaido Shinkansen.
We are also working to revitalize local communities through sales andmarketing in coordination with the communities along our railway lines.

SocialRailway stations, where train passengers and many other people
gather, are important hubs for local communities, and at the same time,they are important management resources for JR Central. By making themost of these management resources and operating office, commercial,hotel and other businesses in such excellent locations, stations will
become more lively, leading to increased use of railways. At the sametime, the increase in railway use due to improvements in transportation
services will contribute to the growth of our related businesses that
we operate at stations. We believe that working together with Group
companies to realize such synergies between railway and related
businesses will boost the movement of people and revitalize economic
activities in the region. An example of this is the formation of skyscrapers
around Nagoya Station over the past 15 years and the significant change
in the flow of people in the Nagoya district. Further development is
expected with the launch of the Chuo Shinkansen.

Development of the Nagoya Station area

JR Central views its employees as its greatest management resource.
Our management philosophy of“contributing to the development ofJapan’
s main transportation artery and social infrastructure”can berealized at higher levels when the management philosophy and action
guidelines are embodied in the work of each employee and then put
together as teamwork for thorough implementation. Based on thisunderstanding, we strive to improve engagement* and maximize ourcorporate value by actively promoting human resource development
and the creation of a rewarding workplace. We conduct an annual
engagement survey so that the status of engagement can be monitored
regularly and quantitatively.

E G lob al e n viro nme nt pres erva ti o n
We believe that having as many passengers as possible opt to use
railway services, which have a smaller environmental impact thanother modes of transport, will reduce the environmental impact of theentire transportation sector and lead to conservation of the global
environment. Railways account for only 7% of Japan’s CO2 emissions
despite providing 25% of Japan’s overall passenger transport volume.
JR Central has been working to introduce energy-efficient rollingstock to enhance these characteristics. The latest N700S Shinkansenrolling stock consumes 28% less energy when operating from Tokyo
to Shin-Osaka at a maximum speed of 285 km/h compared to
the Series 300 (in commercial service from March 1992 to March2012) when running at a maximum speed of 270 km/h. In addition,compared to an aircraft (B777-200), the Tokaido Shinkansen (Series
N700“Nozomi”) consumes approximately one-eighth of the amountof energy per seat when traveling between Tokyo and Osaka anddischarges about one-twelfth of the CO2 emissions. We will continue
to improve our transportation services while contributing to global
environmental conservation as a corporate responsibility. We will
also make efforts to reduce CO2 emissions further, in line with thegovernment’s 2050 carbon neutrality goal, and improve railway’senvironmental superiority.
Other measures we carry out to mitigate environmental impact
include promoting the effective use of resources through the 3R’s(Reduce, Reuse and Recycle) and other initiatives, reducing the releaseof chemical substances and waste, reducing food loss and recycling
materials.
Tokaido Shinkansen’s rolling stock ratios and unit energy consumption（%）
100

Increase in maximum speed of all trains (to 270 km/h)

60

It is also important for us to maintain and promote the health of
employees in order to make these corporate activities sustainable. We
actively promote initiatives toenhance health and productivity
management by establishing a“Health Promotion Policy,”
which serves as our overall
health policy, and an organization
to support it, which is headed by
the officer in charge of personnel
affairs.

* Meaning a state in which an employee is proud of being a member of the company and is happy to work
for it

（%）
100

80

Series 0 & 100

60

Series 300 & 700
Series N700 & N700A

40

20

40

20

N700S

0

0

’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05 ’06 ’07 ’08 ’09 ’10 ’11 ’12 ’13 ’14 ’15 ’16 ’17 ’18 ’19 ’20 ’21 ’22(FY)SocialG(to 285 km/h)

Approx. 32％ improvement
vs FY1990

80

After the completion of JR Gate Tower

S H u ma n re s ourc e dev el opm e n t a n d c r e a t i o n o f a r e w ar d in g w or k p lac e

GovernanceE nvir on ment

Rolling stock ratio

Immediately after JR Central’s establishment

E

Environment

Environment

Governance

Go ver nanc e

G App ropri at e gov erna nc e
In the railway business, which is the mainstay of our management,
our basic management concept is to steadily implement initiatives
necessary to ensure safe and stable transportation, which is our mostimportant issue. We also intend to further reduce our management
risks, stabilize management, and secure the interests of all
stakeholders, including shareholders, through the Chuo Shinkansen, alarge-scale, long-term project we are working on. Since such initiatives
require massive long-term capital investment and technologicaldevelopment, we believe it is vital to manage our business based on along-term outlook rather than pursuing short-term profitability.
As such, we will engage in our business activities under solid
governance that increases the trust of all stakeholders by establishinga corporate culture that places the highest priority on safety andensures the soundness and transparency of management while at thesame time aiming for long-term development as a company.

G Re la ti on shi ps wi th sta k eh ol de rs
S I nn o v a t i on ad vanc em ent
In order for JR Central to fulfill its mission and develop in the
future, it is essential to build systems and hardware that will serveas the foundation to support daily safe, reliable and comfortabletransportation services through technological development. Thus, withthe aim of addressing various technological issues in an integrated
and comprehensive manner, we have been engaged in systematic
technological development at the Komaki Research Center, which
was established in 2002, by setting issues that contribute to company
policies, such as ensuring safe and reliable transportation, from a

17

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

medium- to long-term perspective. These approaches have resulted
in many advanced achievements, such as safety measures against
earthquakes and natural disasters, improved services throughenhancement of the functions of rolling stock and other equipment,
and enhanced environmental performance. In addition, the Chuo
Shinkansen Project, as a fundamental measure to strengthen the maintransportation artery, is being promoted through the accumulation oftechnological development at the Komaki Research Center as well as
the Yamanashi Maglev Line.

JR Central’s railway business is highly public and has a multifaceted
array of stakeholders, including customers, shareholders, employees,
business partners and local communities. Therefore, we believe it isimportant to maintain an overall balance in our relationships with our
stakeholders, rather than focusing on just one facet.
We believe that improving the convenience of many users,
contributing to the economic and social development of the region
and Japan, securing stable profits, returning profits to shareholders,and building long-term stable relationships with employees andbusiness partners will increase the trust of all stakeholders and leadto our sustainable growth as a company.
Stakeholders
Customers●Safe and comfortable service for everyone●Groundbreaking reduction of travel time by the Chuo Shinkansen

Shareholders●Sustained increase of cash ﬂows ●Continuation of stable dividends

Employees●Long-term stable employment environment ●Active and rewarding workplace

Business partners ●Building long-term, stable, fair and equitable business relationships
Local
communities●Development of the Japanese economy ●Revitalization of local communities●Building a resilient society

Globalenvironment●Conservation of the global environment by expanding the use ofenvironmentally friendly railways

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

18

Highlight 1

Reinforcement of Earning Power by Utilizing Latest Technologies—Aiming for safer, more convenient, and more comfortable railways—
JR Central is promoting“reform of business operations”to reduce routine costs by 80 billion yen on a non-consolidated basis over 10 to 15
years by establishing an efficient business execution system, and is taking on the challenge of realizing a new concept,“ revenue expansion,”toreinforce earning power.
In recent years, technologies such as sensing, image recognition, big data transmission and analysis, AI, and robotics have evolved significantly.
JR Central is committed to providing safer, more convenient, and more comfortable railway services with greater efficiency by proactively
incorporating these technologies to fundamentally transform current transportation services and address future declines in the labor force.
In Highlight 1, we have summarized our future vision of railways and our main initiatives to work toward it. Through these initiatives, we will
integrally develop the three generations of railway of the Conventional Lines, Tokaido Shinkansen, and Chuo Shinkansen over the future to
vigorously fulfill our mission of“contributing to the development of Japan’s main transportation artery and social infrastructure.”

駅や新幹線車内のWork to improve the environment
ビジネス環境整備を推進
in stations and Shinkansen trains

More Convenience

S
MU

IC

CO

NC

ER

・S t r i v e t o i m p r o v e s e r v i c e s b y u n d e r s t a n d i n g
the needs of customers and introducing
new perspectives and flexible ideas.

L

T

CO

FF

Safer Operation

EE

TA
XI

・I m p r o v e s a f e t y f r o m v a r i o u s a n g l e s t o c o n t i n u e
to provide transportation services that can beused by customers with peace of mind.
・I m p r o v e t h e r e l i a b i l i t y o f t r a n s p o r t a t i o n s e r v i c e s
by introducing systems and equipment that use
the latest technologies in railway operationand maintenance. Railway personnel will focus
on more creative work, such as reflecting local
situations and data into planning.

XI
TA

Propose new travel styles by using“EX Hotels and Activities,” “EX
Shinkansen Travel Packages,” etc.

Enable ticketless boarding by expanding
the availability of TOICA to all lines andenhancing the online reservation service
19

Provide new ways
to use Shinkansen

More Comfort

・E x p a n d o u r o n l i n e r e s e r v a t i o n a n d t i c k e t l e s s b o a r d i n gservice to provide customers with a smooth travelling
experience.
・L e v e r a g e I C T a n d o t h e r l a t e s t t e c h n o l o g i e s t o e n h a n c emeans of communication with customers and improvet h e c o n v e n i e n c e o f tTrACaAnR s p o r t a t i o n s e r v i c e s .
HO
N
RE
TE
L
TE
HO

Consider enhancing
Shinkansen seat categories

XI
TA

Install more ticket machines that can
provide guidance through video calls

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

Driver-only operation will be madepossible by installing car-side
cameras in certain rolling stock

Install platform doors
at all Shinkansen stations

Monitor the condition of tracks andrailway line facilities using image
recognition and other technologies

Monitor the condition of railcars byusing condition monitoring data

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

20

Highlight 1

Business Strategy

Generating "Economic Value"

Corporate Data

Creating "Social Value"

Reinforcement of earning powerby
Utilizing Latest Technologies

1. Safer Operation
Shinkansen

We will enhance the means of communication with customers at stations

Install platform doors at all Shinkansen stations

We will expand opportunities for passengers to seek guidance, buy tickets, etc., at stations by using video calls or other means
Automated train operation (GoA2)

to increase safety on the platform※GoA:Grade of Automation

Also introduce an automated train operation
system (GoA2) to the Tokaido Shinkansen to
support the work of train operators

・The train operator is stationed in the driver's cab in the first car.
・The train operator starts the train manually.
・Speed control and stopping during operation are automated.

● Assisted by enhanced operations support, thetrain operator performs a safety check on theplatform and opens/closes the door when the
train arrives at and leaves each station. In an
emergency, the train operator, as the person in
charge of the train, supervises conductors andAiming for the commercial introduction of trainspursers in coping with the situation.
● Conductors focus on supporting customers who equipped with automated train operation functions* ofthe automated train operation system (GoA2) aroundare not accustomed to traveling or otherwise
2028, we are currently conducting running tests.
need assistance in the train and on patrolling in * Scheduled operation functions, fixed-position stopping
the train to improve security.
functions, etc.

Automation level

Graphic illustration of operation mode

(As defined by IEC (JIS)*)([ ] indicates the operator's main tasks)

GoA2

Operator [Starting the train, bringing
the train to an emergency stop,
guiding evacuation, etc.][Reference] Automation levels of railways (edited excerpt from MLIT materials)

Conventional lines
Install cameras to the sides of cars for certain trains of three or more cars to help the train operator ensure safety visually● The train operator ensures safety by inspecting the images of the● Having introduced cars with cameras on their sides to some of the trains

cameras installed at each car. In addition, we are considering the use ofimage recognition technologies to detect passengers who get caught inthe train door, fall from the platform, etc.

of the Kansai Line in June 2023, we are conducting verification tests on
regular trains to establish image recognition technologies.
● While considering such measures to increase safety, we will introduce
driver-only operation also to trains of three or more cars.

●Wewill enhance remote guidance services, such as "reserved
seat ticket machines with support functions" and "customer
support service," as well as support for ticket purchases.

●There will also be more stations at which passengers can buy

tickets early in the morning and late at night.
●The“customer support service,”which has already been introduced to theTaketoyo Line, the Tokaido Line (from Obu Station to Toyohashi Station), theKansai Line (from Nagoya Station to Kuwana Station), and the Iida Line (Ushikubo
Station) will also be introduced to the Tokaido Line (from Nagoya Station to
Maibara Station) and the Chuo Line (Kachigawa Station) around February 2024.

Station attendants will focus onservices that require in-person
interactions

For more convenient business trips and leisure travel
We revised the prices of certain services together with the service enhancement of EX Service and Japan Rail Pass
We have made Tokaido Shinkansen seats available for reservation up to
one year in advance since October 2023, in addition to the introduction of“EX Hotels and Activities,”a service to enable customers to seamlessly
make reservations and payments not only for Shinkansen, but also for
lodging facilities, sightseeing plans, car rentals (excluding some car rentals),
tourist taxis, etc., within the EX Service website, and“EX Shinkansen Travel
Packages,”the first travel product in Japan that combines reservationsfor Shinkansen seats, lodging facilities, etc., which can be changed until
immediately before boarding.

We have also enhanced Japan Rail Pass, a product for foreign travelers
visiting Japan, to allow them to use the pass also for Nozomi trains
provided that they purchase“Nozomi/Mizuho tickets effective only
for Japan Rail Pass users”before boarding. In addition, tourist facilities
throughout Japan have started discounts and other services for customers
who have a Japan Rail Pass.
In conjunction with the enhancement of existing services and products,
we have revised the prices of“Express Reservation”and“Japan Rail Pass.”

Booking and payment Can be completed within the“EX Service”website for accommodation, sightseeing plans, car rentals (excluding some car rentals), etc., in addition to Shinkansen tickets !

“EX Hotels and Activities”

EX Service

Images of the car-side cameras ① through ④

We will install more ticket
machines that can provide
guidance through video calls

Shinkansen

Hotel

Sightseeing plan

Car rental

Tourist taxi

Conventional
Taxi
lines
(ride-hailing)* Links to an external site
for booking and payment“EX Shinkansen Travel Packages”“EX Hotels and Activities”/“EX Shinkansen Travel Packages”
Examples: Detecting any person approaching a
train and alerting the train operator with sound

3. More Comfort

Increase safety and stability by using the latest technologies

Provision of high value-added services to meet diverse needs

Improve the quality of inspection and repair by actively using condition monitoring, image recognition, etc.
Appearance inspection● We will improve reliability and efficiency by shifting from manual orvisual inspection to diagnosis based on condition monitoring and image equipment (above ground)
recognition and using a system to assist the input of inspection andrepair results.
● We will constantly monitor the condition of railcars, railway trackfacilities, electric equipment, etc., by acquiring data on them in orderto make repairs before they break down. As a result, rolling stock andfacilities will be maintained in a sound condition, and the occurrence of
breakdowns and train delays will be less frequent.
● Our employees will strive to further improve the quality of inspection
and repairs through verification based on data analysis.

Data monitoring

Railcar data
(railcars)

Monitor the condition of railcars using railcar data and data fromappearance inspection equipment.

2. More Convenience
Ticketless services for the smooth use of both Shinkansen and conventional lines
TOICA service will be available on all JR Central lines●We will also introduce a service to enable passengers to reserve seats or

buy commuter passes using their smartphones anytime from anywhere.

●Passengers will be able to use limited express trains on conventionallines without stopping at the ticket office in a station to buy tickets.

or
特急券はスマホで
Buy a limited
Reserve a seat with your smartphone Buy a basic fare ticket
express ticket with
with your IC card
your smartphone

Typical mode of using limited express trains on conventional lines in the future

21

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

We have been operating“EXPRESS WORK”at stations and other locations
since 2021. In order to accommodate different workstyles of customers,
we provide the following three types of services:“EXPRESS WORK-Booth,”“EXPRESS WORK-Lounge,”and“EXPRESS WORK-Office”as paid workspaces.
In view of the steady increase in use of EXPRESS WORK-Booth, a privatebooth-type workspace, we have installed them at all Nozomi stations aswell as at some Hikari stations in 2022 and have installed more booths atsome Nozomi stations with higher use rates in 2023.
We are also installing private-type“business booths”inside cars, which
can be used for short meetings, web conferencing, telephone calls, etc. In
addition, we have installed a partition on some B seats in Car No. 7, which
is designated as“S Work Car,”to increase the separation between the seatson both sides. These seats are sold as S Work P Seats for the price of areserved seat in a regular car (using EX Service) plus a surcharge.
As explained above, by further enhancing the environment to enablepassengers to work seamlessly before and after getting on the train, we areworking to increase added value.
We are also considering providing a superior class to Green Cars to maketravel even more comfortable.

S Work P Seat

Business booth

Promotion of new productsSporting events

We provide new ways to use Shinkansen

We will expand our services in a phased manner to enable passengers
to use IC cards issued by railway companies for transportation on all JR
Central lines without buying a ticket at a station in advance.

Internet reservation and ticketless services will be expanded

We will consider enhancing seat categories by promoting development of workspaces inside stations and Shinkansen cars

For Chartered Car Package, a service to allow customers to charter awhole car of the Tokaido Shinkansen to, for example, hold an event of
their own, we have received more than 80 orders by the end of September
2023 since the launch of the service, drawing the attention of manycustomers. For example, chartered cars have been used for the promotionof new products, sporting events, etc., which benefited from full special
staging effects by using specially designed head covers, carpets, etc.

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

22

Business Strategy

Generating "Economic Value"

Corporate Data

Creating "Social Value"

Targets toward carbon neutrality andaddressing the TCFD Recommendations

Highlight 2

Targets toward carbon neutrality and addressing

the TCFD Recommendations
With global environmental conservation as a key management theme, we have been constantly enhancing
the environmental superiority of railways, which are more energy efficient and have less environmental impact
than other modes of transportation, by proactively adopting energy-saving rolling stock and equipment.
Additionally, we strive to further reduce CO2 emissions to achieve carbon neutrality in 2050. On the basis of
the Japanese government's 2050 carbon-neutrality policy, JR Central and the JR Central Group aim to achieve
net zero CO2 emissions in 2050 as well as reduce CO2 emissions in FY2030 by 46% from FY2013 levels.
In addition, we endorsed the TCFD recommendations in May 2021 and are proceeding with the analysis ofclimate change-related risks and opportunities. We will continue to further deepen the risk analysis to support
stable business operations over the long term, while contributing to the realization of a sustainable society.
* TCFD stands for Task Force on Climate-related Financial Disclosures, established by the Financial Stability Board (FSB) in order to consider issues concerning climate-related disclosures, etc. Its final
report establishes the recommendation that companies, etc. understand and disclose information about the risks and opportunities that climate change presents to their business.

1. G ov er nanc e
At JR Central, the Corporate Planning Division and the General Technology
Division, which oversee the management and the technology sectors,
respectively, play a central role in formulating and promoting environmental
measures. The President and Representative Director and related directors

reflect the results of the study on climate change in management, and oversee
the efforts to address climate-related issues. In addition, important matters are
discussed and reported at the Board of Directors meetings, etc.

2 S tr a te g i es
The main climate change-related risks and opportunities that we recognize are as follows:
Risk nameRisk materialization
period･Increased costs from the introduction of carbon pricing (decarbonization tax, etc.)

Medium term

Transition･Increased costs to respond to stricter regulations on CO2 and other emissions
risks･Increased costs to procure energy and materials･Increased damage to railway facilities from more frequent wind and flood damage･Increased suspension of service from more frequent wind and flood
Physical damage (decreased transportation revenue)
risks･Adverse impact on material procurement, etc. due to supply chain disruption･Decreased revenue due to customers refraining from traveling under extreme weather conditions
who value environmental superiority shifting
Opportunities ･Customers
from other modes of transportation to rail

[Direct emissions] ○ Hybrid powered rolling stock
Fuel:
0.07 million tons ○ Development of hydrogen-powered rolling(approx. 5%)
stock (fuel cell trains or hydrogen engine trains)

Medium term
Medium term
Short term
Short termLong termLong term

JR Central’s
CO₂ emissions:1.25 million tons
(FY2022)○ Research on battery and fuel cell railcars○ Biofuel tests[Indirect emissions]○ Energy saving
Electricity purchase:
1.18 million tons ○ Renewable energy utilization(approx. 95%)

Long term* Definition of risk materialization period: About one year for short term, through 2030 for medium term, and through around 2050 for long term

(1) T r a ns i ti o n r isks
As we are aware of the risk of increasing costs for regulatory responses andCO2 emissions due to the introduction of carbon pricing, among other factors,
we recognize the importance of measures to reduce CO2 emissions.
Of the 1.25 million tons of CO2 currently emitted by JR Central (FY2022),
approximately 95% is indirectly emitted through our use of electricity, while theremaining 5% is directly emitted through our use of fuels, etc.
To address the 5% direct emissions from the use of fuels, we introduced theSeries HC85 with reduced environmental impact as well as promote tests on
biofuels. We will also begin simulated driving tests combining vehicle driving
test equipment and hydrogen supply facilities to develop hydrogen-powered
vehicles. Research and development will be continued for battery railcars. To
address the indirect emissions from the use of electricity, which account for

the remaining 95% of the total, we will make further energy-saving efforts, suchas introducing additional energy-efficient rolling stock including the N700S and
Series 315, and replacing frequency converters for the Tokaido Shinkansen one
by one with types with lower power loss, in addition to other decarbonization
efforts that are consistent with the decarbonization trend across the entire
power generation sector in Japan. We have also achieve substantially zero CO2emissions by using, since July 2022, a FIT non-fossil fuel certificate equivalent
to the electrical energy used for the train operations of the Taketoyo Lineto enable the trains on the line to run substantially 100% on electric power
derived from renewable energy. We are also implementing other measures topromote the use of renewable energy, including solar power generation on
Shinkansen banking, which is currently under preparation.
* Refer to pages 65-66 for information on specific measures.

(2) P h ys ic al r is k s
In the railway business, the largest climate change-related physical risk arises
from wind and flood damage. For this reason, we have taken various measuresin the past and strive to manage such risks more effectively going forward by
analyzing the impact of climate change using the framework of the TCFD.
As part of this effort, we have conducted a quantitative risk analysisof potential damage to Tokaido Shinkansen equipment as a result of theincreasingly frequent occurrence of river floods, and the analysis results weredisclosed on our website in April 2022. In addition, we have recently completed
the analysis of revenue decreases of the Tokaido Shinkansen due to suspensionof service. (Refer to“Analysis of Financial Impact”for specific disclosure content.)(3) O p po r tu ni ti es
We see the recent rise in environmental awareness toward decarbonization
as an opportunity to further promote the use of train services, a means oftransportation that possess high environmental superiority.

JR Central intends not only to increase transportation revenues, but also tocontribute to the preservation of the global environment by securing safe andstable transportation and improving transportation services.

Of these risks and opportunities, we expect the impact of wind and flood
damage to be most significant for the railway business. Therefore, we haveanalyzed the financial impact on the Tokaido Shinkansen, JR Central’s mainmanagement resource, as follows:- A n al ys i s o f f in ancia l im pa ct (ris k o f d a ma g e to f a c i li t i es ) Since its founding, JR Central has actively worked to strengthen its facilities
against all natural disasters, whether they arise from climate change or not,based on the recognition that the starting point and the biggest mission ofrailway business is securing safe and reliable transportation.
* Refer to pages 35-42 for information on specific measures.

23

Highlight 2

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

On the other hand, according to various studies on climatechange, the frequency of floods is forecasted to increase also in
the areas in which JR Central operates as average temperature
continues to rise. In this case, there is a risk of increase in damage
to facilities that support train operations.
Based on this understanding, we have analyzed the risk of damage to facilitiesof the Tokaido Shinkansen, which accounts for the largest portion of ourtransportation revenues, by using hazard maps for design scale rainfall publishedby the national and local governments※1 and found that some of the facilities
would suffer damage.
Based on this scenario, we have analyzed the potential financial impact byconsidering the risk of increase in the probability of occurrence of river flooding
due to climate change. The result of the analysis indicates that there would be anincrease of approximately 10 to 20 million yen under the RCP 2.6※2(2℃) scenario
and an increase of approximately 20 to 30 million yen under the RCP 8.5 (4℃)
scenario in financial impact (damage to facilities) for the single year of 2050.
On a cumulative basis through 2050, a financial impact of approximately 220
to 270 million yen and approximately 340 to 490 million yen is expected under
the RCP 2.6 (2℃) scenario and the RCP 8.5 (4℃) scenario, respectively.
For the Tokaido Shinkansen, we are implementing measures to ensure that our
train operations will not be significantly affected by flooding caused by a design
scale rainfall, including relocating, elevating, and/or installing anti-flooding doors
at main facilities by May 2024. The analysis above has taken into account thesemeasures. Although there is a possibility that some of the facilities will suffer
flooding damage, train operations are not expected to be significantly affected.
Therefore, we expect no significant financial loss from decreases in transportation※3
revenues.

Increase in financial impact (100 million yen)

Scenario

2050 (single year)

Cumulative through 2050

RCP2.6（2℃）

0.1～0.2

2.2～2.7

RCP8.5（4℃）

0.2～0.3

3.4～4.9(million yen)

Increase in financial impact of river flooding (cumulative)

500
RCP2.6400

RCP8.5

300
200
100
0
2020

2025

2030

2035

2040

2045

2050 (Year)※1 Design scale rainfall is a rainfall whose probability of occurrence is once in several decades
to 200 years.
※2 RCP stands for Representative Concentration Pathways and RCP scenarios are scenarios on
representative concentration pathways published in the fifth assessment report of the IPCC.
※3 Refer to“Flooding countermeasures”on page 39 for details.

- A n a l y s i s o f f i n a n c i a l i mp a c t ( r i s k o f r e v e n u e d e c r e a s e s d u e t o s u s p e n s i o n o f s e r vi ce ) For the Tokaido Shinkansen, we have installed rain gauges at 59 locations
along railway lines and elsewhere. When rainfall reaches a certain threshold,train operations are adjusted as appropriate, such as running slowly orsuspending service, in order to ensure safety. We have worked to ensure safety
at higher levels by, for example, introducing operation adjustment rules based
the soil rainfall index, an excellent indicator of the danger of landslide disaster,in 2022. We are also implementing measures to ensure that train operations
will not be significantly affected by rainfall, including the implementation of theabovementioned flooding countermeasures for the Tokaido Shinkansen.
On the other hand, the occurrence frequency of heavy rain may increasein the future due to average temperature rises caused by climate change. In
this case, the Tokaido Shinkansen may be subject to increasing probabilities
of suspension of service and train delays. In the case of suspension of service,
the revenue therefrom would be lost. In the case of train delays for two hours
or more past the scheduled arrival time, the limited express fare would berefunded. As such, if rainfall that affects Shinkansen operations increases, ourrevenues are expected to decrease.
In view of these circumstances, we have calculated the potential financial
impact by applying rainfall occurrence frequency forecast scenarios under climatechange to the amount of decreases in revenues due to suspension of service
and train delays caused by heavy rain, which has been obtained from the train
operation data up to the time of analysis. The result of the analysis indicates that
there would be a financial impact of approximately 60 to 80 million yen under the
RCP 2.6* (2℃) scenario and a financial impact of approximately 120 to 160 million
yen under the RCP 8.5 (4℃) scenario for the single year of 2050.
On a cumulative basis through 2050, a financial impact of approximately 1,070
to 1,320 million yen and approximately 1,660 to 2,340 million yen is expectedunder the RCP 2.6 (2℃) scenario and the RCP 8.5 (4℃) scenario, respectively.
This impact amount, even as measured by the maximum cumulative amount

Increase in financial impact (100 million yen)

Scenario

2050 (single year)

Cumulative through 2050

RCP2.6（2℃）

0.6～0.8

10.7～13.2

RCP8.5（4℃）

1.2～1.6

16.6～23.4(million yen)

Increase in financial impact of heavy rain (cumulative)

2,500
RCP2.62,000

RCP8.5

1,500
1,000
500
0
2020

2025

2030

2035

2040

2045

2050 (Year)of 2,340 million yen under the RCP 8.5 (4℃) scenario, would be equivalent
to only 0.3% or less of our Shinkansen transportation revenues for the latest
fiscal year that ended March 31, 2023. As the Tokaido Shinkansen accounts forapproximately 90% of JR Central’s transportation revenues, the financial impactof the scenarios analyzed above, if it should materialize, would be insignificant
compared to the Company’s overall transportation revenues.
* This analysis did not consider the impact of typhoons.

3 . Ri sk man ageme nt

4. Goals and indicators

At JR Central, the Corporate Planning Division and the General Technology
Division assess and analyze the impact of climate change risks and opportunities
on its business in close cooperation with related departments, and formulate
and promote countermeasures.
As part of measures to reduce physical risks, we are working on theconstruction of the Chuo Shinkansen that utilizes the Superconducting Maglev
System as a fundamental measure to prepare for large-scale disasters, inaddition to the measures that we have been taking since our establishment tostrengthen our facilities to cope with natural disasters in general, not just thosecaused by climate change.
We will continue to deepen our risk analysis on climate change to ensure thelong-term and stable operation of the railway business and also to contribute to
the realization of a sustainable society.

On the basis of the Japanese
government's 2050 carbon- neutrality
policy, JR Central and the JR Central
Group aim to achieve net zero CO2emissions in 2050 as well as reduce
CO 2 emissions in FY2030 by 46%
from FY2013 levels. With these
efforts, we will further elevate theenvironmental superiority of railways
and contribute to the realization of asustainable society.

(thousand t) The JR Central Group’s CO₂ emissions

1,800

1,705
Scope1

1,600
1,400
1,200
1,000
800

Scope2

1,394
vs FY2013
-46%

1,569
1,279

600
400
200
0

Net
zero
137 1152013 2022 2030 2050 (FY)CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

24

Business Strategy

Initiatives for Human Resources to Support JR Central's Sustainable Growth～Human resource development, creation of a rewarding workplace, and health and productivity management～
JR Central views its employees as its greatest management resource. Our management philosophy of "contributing to
the development of Japan's main transportation artery and social infrastructure" can be realized at higher levels whenthe management philosophy and action guidelines are embodied in the work of each employee and then put together as
teamwork for thorough implementation. Based on this understanding, the Company strives to improve engagement* andmaximize its corporate value by actively promoting human resource development and the creation of a rewarding workplace.
It is also important for us to maintain and promote the health of employees in order to make these corporate activities
sustainable. The Company is actively promoting initiatives to enhance health and productivity management by establishing a"Health Promotion Policy" and an organization to support it, which is headed by the officer in charge of personnel affairs.
* Meaning the state in which an employee is proud of being a member of the Company and is happy to work for it.

Human capital management

Human resource development

Creation of a rewarding workplace"Basic policy"

Active use of diverse human resources

OJTGroup training

New ideas and technologies

Promotion of women's empowerment
Support for maintaining balance
between childcare/ nursing care and work

Selfdevelopment

Employment of persons with disabilities

Develop diverse individuals

Career development support

Overseas study and research dispatch
Application-based training
Internal application-based assignment
ICT education
Development of business experts

Interview by the Personnel Department

Goal management interview

Ability to work safely
Ability to provide better service
Ability to work eﬃciently

Promotion of dialogue in the workplace

Engagement"Skills improvement and the creation of a lively workplace" "One STEP" activities“Health and productivity management”
Mental healthcare/Workplace vitality improvement projects"Regularly and quantitatively monitoring engagement"Engagement survey

Realize our management philosophy at a higher level

Reinforcement and accumulation of human capital

Sense Technicalof unity capability

Generating "Economic Value"

Creating "Social Value"

Corporate Data

Initiatives for Human Resources to
Support JR Central's Sustainable GrowthHighlight 3

Discipline

Highlight 3

Development of "leaders in railway business" who support the foundation of the Company's businessAs many railway operation skills can be developed only throughexperience, human resources cannot be developed in a short period oftime. Therefore, JR Central strives to offer ongoing employee educationthat is attentive to details through the combination of on-the-job training(OJT), group training, and self-development.

(1) On-the-job training (OJT)
We offer various types of on-the-job training (OJT) including, forexample, an "N-OJT" program for employees of younger generations toattain specialized knowledge and technical skills. Under this program,
employees skilled in practice take a fine-tuned approach in developing

younger employees by using a list that indicates the requirements
needed to be regarded as qualified in the workplace and a record ofeach individual's development plan, details of guidance, and results of theguidance.

(2) Group training
We put effort into offering various training programs, including job-specifictraining for leaders in railway business who will support the foundationof the Company's business, selective training programs to develop corepersonnel in the workplace, and stratified training sessions for employeesin specific positions. Job-specific training is conducted to improve theknowledge and technical capability of employees by providing them withpractical training that is suitable for their job functions and required skill
levels. At the General Education Center, we have put in place life-size railcar
simulators and test lines with equipment that is equivalent to that of reallines, as well as actively implement initiatives to deepen professional skills
and techniques, such as utilizing training materials with VR technology andstereoscopic projection systems. In FY2022, group training at the General
Education Center was used by a total of about 10,300 employees forapproximately 77,800 person-days, with 31.1 hours of training per employee
annually. For employees in managerial positions, we provide training on
methods to maximize the performance of the workplace and teams bybringing out the strengths and abilities of each staff member. For mid-level

employees, we also provide those in professional positions, for example,
with selective training programs, such as leadership training and forerunnertraining, to develop future leaders. For new employees, we provide new
employee training that runs for about two months after they enter theCompany. We recognize this training as an "important opportunity for new
employees to shift theirawareness from beinga student to being a
JR Central employee"
and implement acurriculum that
instills the disciplineand norms requiredof employees of
JR Central and theawareness that safety
General Education Centeris the top priority.

(3) Self-development
With regard to promoting self-development, we are also enhancing
various support systems and actively supporting the development of theskills of motivated employees. JR Central offers internal training programs(about 30 courses) to help employees systematically acquire specialized
knowledge and skills that are necessary in their daily work, and about
5,000 employees use this program every year. We also offer a license
incentive program that provides employees who obtain any of about 200

types of licenses designated as useful in work with an award equivalent
to the course fee and an external distance learning incentive program thatprovides employees who have completed an external distance learning
course, including e-learning, with an award equivalent to 50% of thecourse fee. In FY2022, a total of about 4,100 people were eligible andsupported at a cost of approximately 29 million yen.

Initiatives to find and develop diverse individuals
In order to continue to realize our management philosophy of"contributing to the development of Japan's main transportation artery andsocial infrastructure" at a higher level into the future, we need to reinforce
both the quality and quantity of our diverse human resources in order to

respond appropriately to changes in the business environment. JR Central
is developing human resources with a wide variety of knowledge andexperience as our management capital by providing motivated employeeswith opportunities to gain knowledge and experience.

(1) Development of global human resources

In order to improve engagement, the Company conducts an annual engagement survey of all employees (excluding
those on leave) so that the status of engagement can be monitored regularly and quantitatively. Continuous
improvement measures are taken to address the problems identified in each survey, leading to a virtuous cycle ofsustained employee engagement, enhanced organizational performance, and boosted productivity.

1. Human Resource Development
General principles
The railway business can function as a safe and sound system as a whole
only when each employee is strongly committed to fulfilling his or her role
and works diligently on a daily basis with a high technical capability andaccurate knowledge, while various technical skills are highly integrated
through the coordination of various departments.
For this reason, JR Central has adopted“discipline,”“technical capability,”
and“sense of unity”as its three general principles for human resource
development, which are particularly relevant to railway operation, andis working on human resource development based on these principles
in order to continue to fulfill its social mission stably and sufficiently overthe long term. More specifically, the basic education and training system
mainly involves on-the-job training (OJT), in which employees learn theknowledge and skills required for work through daily operations in each

25

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

With the economic and social environment surrounding companies
becoming increasingly globalized and complicated, we have establishedan Overseas Study Program that is fully funded by the Company, withthe aim of fostering human resources who can take charge of its future
management and play a role on a global stage. So far, 138 employees
have studied abroad at various universities, including Harvard University.
Massachusetts Institute of Technology, and the University of Chicago, tolearn a broad array of knowledge and build a human network.
We have also established an Overseas Research Dispatch Program

to send employees to overseas companies and other organizations to
conduct research on advanced technologies, etc., and to utilize the resultsof the research in our business operations upon their return. So far, 77
employees have been dispatched.
These programs are application-based. We strategically develop
human resources who will contribute to the promotion of our businessand organizational change in the future by accepting applications frommotivated employees of a wide-range of job types.

(2) Career development through application-based training and programs
workplace. They also acquire additional knowledge and skills through grouptraining, which is held in the General Education Center, etc., and various selfdevelopment opportunities, such as internal and external training programs,
etc., that help employees acquire knowledge and skills on their own.
It is also necessary, particularly in administrative departments, to help
diverse employees fully demonstrate their ability and to create new value by
responding to various changes in both the internal and external environment
with new perspectives and flexible ideas.
Based on the premise of long-term employment, both in the railway
operation and in the administrative departments, in order to enable
employees to attain the necessary abilities and demonstrate theircapabilities with enthusiasm, we are working to systematically develop
human resources with a broad perspective on personnel management.

JR Central is working to enhance application-based training andprograms to help diverse human resources gain knowledge andexperience in accordance with their motivation, aiming to raise employee
engagement and further diversify our human resource portfolio. Employees
who are expected to play an active role as a senior management memberin the future are provided with education opportunities, including careerdevelopment training to teach them the necessary skills for leading
their workplace as a core employee, and opportunities to broaden theirperspectives and external human networks, such as participation in crossindustry events and seminars for women and dispatching employees toexternal programs for working professionals.
In addition, we have introduced an internal application-based careerdevelopment program in 2022 for the purpose of identifying motivatedand able employees and promoting them to the right positions and,taking this opportunity, stimulating the motivation for self-development
and the taking onof challenges of
employees.
We also permit
double employment(side job) depending
on its impact onwork and the typeof work at the other
employer.
Career development training
CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

26

Highlight 3

Business Strategy

Generating "Economic Value"

Corporate Data

Creating "Social Value"

Initiatives for Human Resources to
Support JR Central's Sustainable Growth(3) Development of ICT human resources
We understand that developing human resources who can actively
use new technologies such as ICT and fostering an internal culture
to maximize the effective use of these technologies in business
operations, are urgently required for us to create new services out of
new ideas and promote the reform of business operations. JR Central
is strengthening the development of human resources who can create
new value using ICT by providing education to teach practical skills,
such as data analysis and system development. In addition, we are
implementing a curriculum that examines ICT technology trends and its
potential for use at JR Central through stratified training sessions, etc.,
as well as education to raise the ICT literacy of all employees, startingin FY2023, in an effort to foster an internal culture of ICT use.

We also put
considerable effort
into the use of ICT as
an educational tool.
For example, we arepromoting the useof web conferencing
tools and a learning
management system(LMS) to enable ondemand viewing of
lectures.

Non-consolidated number of employees
and percentage of female employees(Number of persons)

20,00018,14818,282

18,499（％）

18,72313.0

18,72712.5

12.4
10,000

11.5

11.4
0

11.5

11.2

2018

2019

2020

2021

2022

(FY)

Number of days and percentage ofannual paid leave taken

sharpening their expertise, such as new business development, we are developing
experts by identifying employees with high aptitude and assigning them mainly topositions in the Business Promotion Division and group companies.

18

Number of days of annual paid leave taken
Percentage of annual paid leave taken

93.3
87.6

85

14

70

12

60

8

2. Creation of a Rewarding Workplace
to be able to demonstrate his or her ability to the fullest. We strive
to maximize organizational performance by creating a workplace thatis rewarding to each employee and thereby extracting the maximum
output from each individual.

Women's Empowerment Project

16.9

16.7

18

4

20

2

10

0

0

2020

2021

Company. Female employees are active in many fields, including as
Department General Managers and Section Managers.
In addition to our past efforts to enhance various programs to help
realize diverse and flexible work styles, we have formulated an action
plan based on Act on the Promotion of Female Participation and Career
Advancement in the Workplace, which took effect in April 2021, under
the leadership of the Women's Empowerment
Project launched in July 2020, which is under
the direct control of the General Manger of the
Personnel Department, in order to become acompany in which all employees, regardlessof gender, can balance work and childcare
and fully demonstrate their ability in rewarding
work more than ever.
Under the action plan, we have set numericaltargets, such as increasing the percentage of
Eruboshi certification
female hired as new graduate entrants to 25% based on the Act on theor more and increasing the number of female
Promotion of Female
managers by a factor of 1.5 or more (compared Participation and Career
to the end of FY2020), and we are promoting
Advancement in thecompany-wide efforts to achieve these targets
Workplace (2022)
by March 31, 2026, when the plan period ends.

PregnancyChildbirth0* Sum of Line Managers and employees in positions higher than Manager (excluding Officers)

Target:Assign 1.5 times more women to Assistant Manager andSupervisor levels or higher (vs end of FY2020).

● Foster professional mindset among female leaders and support networking

outside the Company by sending them on external training courses.
● Hold seminars with successful women as lecturers in order to introduce role models.
● Provide training for women aimed at fostering a professional mindset.

Target:Foster a workplace culture that empowers women ● Provide training for managers, etc.
We will foster a workplace
to demonstrate their capabilities.
culture and enhance
4 programs to facilitate
Target:Enhance programs that support employees balancing work and childcare. ● Enhance work arrangements, etc.
women to demonstrate
their capabilities.
Target:Raise the percentage of annual paid leave taken to at least 80%. ● Encourage employees to take annual paid leave.
Target:Raise the percentage of male employees taking childcare
leave or leave aimed at childcare to at least 30%.

30
25

15.1

15.6
767

17.2

20.9

763

716

20
17.5
15

543

670

10
5

119

142

159

190

197

2018

2019

2020

2021

2022

(FY)

0

* Percentage of mid-career hires: 1.3% (FY2020), 2.2% (FY2021), and 5.3% (FY2022)

Percentage of childcare leave, etc. taken (female)
Percentage of childcare leave, etc. taken (male)

108
100

100

100

101
82

80

63
60

38
21
20
0

2022 (FY)

14

2018

2019

2020

2021

2022 (FY)* Calculated including both childcare leave and leave aimed at childcare* Calculated according to the revised Child Care and Family Care Leave Law(enforced in April 2023), starting in FY2021.

Initiatives beyond those called for by law, or voluntary initiatives

1 year old

2 years old

3 years old

Flexible operation of opening and closing times

Enrollment
in elementary
schoolEnd of May in End of September End of March End of March
1st gradein 3rd gradein 6th gradein 1st gradein elementary in elementary n elementary in elementary
schoolschoolschoolschoolCheck-up leave (unpaid)
Maternity leave (unpaid)
Accumulated leave (paid)Childbirth leave (paid)* Entitled when the leave falls under check-up leave or maternity leave, when an employee intends to be present at a childbirth,and for childcare by an employee with a child under one year old

Working restrictions on pregnant womenChildbirth leave (unpaid)Childcare leave at the time of childbirth (unpaid)Childcare leave, etc.

Childcare leave (elementary school)

Childcare leave (paid)Childcare leave (elementary school)
Reduction of scheduled working hours (childcare shorter hours leave) (unpaid)・Reduction of standard working hours under flexible work arrangements
Nursing leave (unpaid)
Exemption from overtime work
Restriction on late-night work
Restrictions on overtime work
Late-night work relaxation system
Shorter day work (shorter day leave) (unpaid)● Strengthen the dissemination of information to male employees

on childcare-related programs.

▶ Plan of action for general employers https://company.jr-central.co.jp/others/action_plan/

association

Target:Assign 1.5 times more women to managerial posts* (vs end of FY2020).

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

2022 (FY)

2021

（％）

26.6

Support system for maintaining balance between childcare, nursing care, and work

Wage Welfare● Strengthen public relations for recruitment so that women
Target:Raise the hiring rate of women in the recruitment of
can envision themselves working at a railway company.
new graduates to at least 25%.
● Strengthen the hiring of women in all job types.

3 number of women in

27

2020

1,200
1,100
1,000
900
800
700
600
500
400
300
200
100
0

Child rearing leave (unpaid)● Increase workplaces to which women are assigned in
We will increase workplaces toTarget:Increase workplaces to which women are assigned.
which women are assigned, andview of the provision of facilities for women.
2 increase places where employees● Increases places where employees with restriction on working
with restrictions in working styles Target:Increase places where employees with restriction
on working styles can play an active role.
styles due to childcare, etc. can play an active role.
can play an active role.

We will encourage men's
5participation in childcare.

2019(Number of persons)100* Calculated excluding non-statutory annual paid leave, based on the Act on the Promotionof Female Participation and Career Advancement in the Workplace, starting in FY2022.

Positive action plan for promoting women's empowerment

managerial posts.

2018

Initiatives for supporting childcare, etc.

We are vigorously promoting women's empowerment as part of theinitiative to create a workplace that is rewarding and helps employees
fully demonstrate their ability. In accordance with the provisions of the
Act on Securing, Etc. of Equal Opportunity and Treatment between
Men and Women in Employment (Equal Employment Opportunity
Act) and other relevant laws, we handle personnel matters, including
recruitment and assignments, without distinction between men andwomen. Currently, female employees are engaged in a wide range of
duties, including administrative work, station front desk work, serving
as conductors and drivers of Shinkansen and conventional lines, andhospital nursing work. Due to the characteristics of the work involved,
the railway business requires so-called late-night work (work between
10 p.m. and 5 a.m.). However, the Labor Standards Act at the time of
the Company's establishment prohibited late-night work by womenin principle, except for some limited job types. Due to this situation,
the ratio of female employees as of the end of FY1996 was only 1.3%.
Subsequently, in response to the revision of the Labor Standards Act in
1997, we have actively employed female employees. As of the end of
FY2022, the number of female employees was 2,325 (approximately
12.4% of all employees), reflecting a significant increase. A female
employee was appointed as a Corporate Officer in 2021 and anotherfemale was appointed as a Director in 2022 for the first time in the

We will increase the0.5

Number of females hired
Number of males hired
Percentage of female hired

Number of employees hired by genderand percentage of female hired

40
30

2019

20

40

17.7

6

2018

1

Percentage of childcare
leave, etc. taken

50

16.5

40

120

90
80

2.5

1.5

100

16

122

107

2

（％）

95.2

3

60

（％）

86.5

136

*Including section chiefs of non-field operations, assistant chiefs of field operations, andchief nurses (includes employees on leave, but excludes employees on secondment).

Group training that uses VR technology

10

We will increase the hiring
rate of women.

3.5

80

0

11.0

4

3.6

3.4

130
117

11.8
5,000

20

1

3.3

120

12.0

(Number of days)

JR Central, as a company that provides highly public and open
services, has a mission to continue to provide services to please
diverse customers. In order to continue to satisfy diverse customer
needs, each of our employees who has a diverse background needs

160

100

（%）

3.8

3.0
15,000

Number of female managers● Percentage of female managers(Number of persons)140(4) Development of business experts
JR Central has a job rotation program to systematically develop humanresources on the premise of long-term employment. On the other hand, in the
job areas in which employees are expected to produce high-quality output by

Number of female managers andpercentage of female managers

Total number of employees (non-consolidated)
Percentage of female employeesChild dependency allowance (up to 22 years old)
Provision of at least 30% of the year-end
bonus even during childcare leave

The Company bears the social insurance premium deducted fromthe year-end bonus in line with the period of childbirth/childcare leave

Home help usage subsidy: Up to 5,000 yen/day (up to 20 days per year) (no age limit)
Childcare support subsidy: Up to 4,000 yen/day (up to 60 days per year)
Preschool center usage subsidy: 5,000 yen/month

In order for all employees, regardless of gender, to balance work andchildcare/nursing care, and be motivated to work with enthusiasm in active roles
over many years, we have continued to make further efforts to enhance various
programs, and many are at a level that exceeds the level required by law.
For example, at JR Central, employees are entitled to longer maternity,childcare, and nursing care leave than the statutory periods. We are currently
taking specific measures* to maintain and increase the percentage of employees
who take childcare leave by setting targets." In FY2022, the percentage of
employees who took childcare leave was 108% for female employees and 82%
for male employees.
We use flexible work arrangements, including flex time for office workers
and certain field office employees and reduced work days, which allows field
office employees who provide care to a child in the sixth grade of elementary
school or younger to take multiple unpaid leave days each month, all with aneye to helping employees achieve a good balance between work and childcare.
We also have a wide range of employee benefits, such as mediating the use ofcompany-led childcare centers and offering childcare support subsidies whenemployees use babysitters, etc., which are used by many employees.
In addition to these programs, we have a system designed to rehire former
employees who resigned for childcare or nursing care reasons or due to othersimilar circumstances, as long as a certain set of conditions is met. We also
have a system that allows an employee whose work location is limited to betransferred, upon request, to an area outside the current
area of work. These measures are all part of our efforts tocreate a better work environment where employees canreach their full potential at different life stages.
※Under the Plan of Action for General Employers (from April 2023) based on
the Act on Advancement of Measures to Support Raising Next-Generation
Children, all employees, both male and female, are expected to take childcare
leave or leave aimed at childcare 100% of the time during the period whensuch leave is available. JR Central has been certified four times by the Ministerof Health, Labour and Welfare as a child-care supportive institution ("Kurumin"certification), meeting certain requirements set forth in the Act on Advancementof Measures to Support Raising Next-Generation Children.

"Kurumin"certification

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

28

Highlight 3

Business Strategy

Generating "Economic Value"

Corporate Data

Creating "Social Value"

Initiatives for Human Resources to
Support JR Central's Sustainable Growth

JR Central Employee Stock Ownership Program
We have established the JR Central Employee Stock Ownership
Program for all employees in principle, with the aim of helping employees
accumulate assets and enhancing their sense of participation in

management. JR Central's shares are purchased with contributions from
employees and incentive payments from the Company.

Employment of persons with disabilities
JR Central is actively promoting the employment of persons withdisabilities from the perspective of utilizing diverse human resources andfulfilling its corporate social responsibility. We place the right people in theright positions in a wide range of departments, including the administrativeand operational departments, while giving consideration to the degree ofindividual disability and other factors.
In October 2006, the Company established a special subsidiary, JR
Tokai Well Co., Ltd., based on the Act on Employment Promotion etc. of
Persons with Disabilities. This special subsidiary mainly engages in printing
and envelope-sealing operations for the JR Central Group. More recently,
in October 2021, the company began offering massage services as part ofits initiative to provide benefits and health management to employees, andin January 2023, it expanded its operations by bolstering its structure andoffering expanded hours of operation and appointment slots.
As a result of these efforts, the employment rate of persons with disabilities asof June 1, 2023, was 2.70%, which is higher than the statutory employment rate.
In accordance with the revised Act on Employment Promotion, etc.
of Persons with Disabilities, we will adhere to our non-discrimination
policy in recruitment and hiring as well as continuing to improve thework environment in an appropriate manner, while taking into accountrestrictions due to disabilities so that individuals with disabilities can makethe most of their skills even after they are hired.

Initiatives to support career development
At JR Central, based on the belief that active communication in theworkplace leads to improved productivity, interviews are held every six
months where employees are given feedback from their managers and theworkplace targets are shared. While maintaining the principle of employee

development through job rotation, we conduct a survey every year on
desired jobs and career paths of individual employees to support theircareer development. The personnel department also holds interviews with
employees.

"One STEP" activities to improve employee skills and create a lively workplace
We promote "One STEP" activities in which multiple employees work
together as a team to discuss various issues in the workplace with a senseof ownership, and then resolve or improve the issues through their own
creativity and originality. The name of this program "One STEP* reflects theidea that "one step made together by ten persons is better than ten steps

made by just one person." By implementing activities on a wide rangeof themes, such as service improvement, safety enhancement, and cost
reduction, we aim to improve the skills of employees, create a rewarding
and lively workplace, boost the power of the workplace, and develop theCompany.

3. Health and Productivity Management

Measures
Understanding the health status and sharing health issues and enhancement measures

Workplace vitality improvement projects

In addition to stress checks for all employees (with more check items
than those required by law), we carry out stress checks with our own
additional indicators for employees who have newly joined the Company,
have moved to another department, or have been promoted. Furthermore,annual meetings are held for health promotion staff to share health issues
faced by our employees and our promotion measures.

We are taking various voluntary and continuous measures both formental health and against lifestyle diseases, based on employees' healthstatus and work environments, with assistance from internal medical
professionals, with the safety and health organization at each workplaceplaying a central role. In doing so, we are effectively utilizing the group
analysis results of health checks and stress checks.

Smoking cessation support

Habituation of exercise support

We provide support including having internal medical professionals
give health lectures, offering in-person instruction during health checks orworkplace inspections, accepting telephone and e-mail consultations, andconsolidating smoking rooms. We are also encouraging staff to utilize the
Smoking Cessation Support Program offered by JR-KENPO.

We hold the following events to improve awareness of health promotion
and support the habituation of exercise.

Unit
Average age"Health Promotion Policy"～For Working in a Lively and Continuous Way～
1 The Company shall establish frameworks for employees to work in a lively way.

31.8

32.1

32.3

36.5

36.3

36.4

Male

17.7

17.4

17

16.8

16.7

9.7

10.1

10.2

10.4

10.6

16.8

16.5

16.3

16

16.0

Femaleon objective data that help us understand the status of workplaces andemployees.

The organization is headed by the officer in charge of personnel
affairs, health and productivity management is being enhanced throughcooperation among the Personnel Department, the Company-managed

Specific actions

Health management over
Daily health management
the medium to long term
[Conducting regular health checkups][Setting numerical health targets][Workplace support[Implementing
by occupational physicians, etc.]
health promotion measures]

Numerical targets
With the aim of reducing the number of employees who are unable
to exercise their full potential due to health reasons, we are working
to improve health-related indicators that are considered to have a highcorrelation with physical and mental illness based on the findings ofoccupational physicians. This is based on the concept of preventing
disease by taking action at the stage before people are exposed tohealth risks, rather than providing support after they become or are likely
to become at high risk of illness.
We focus on exercise habits and smoking rate among health-related
indicators that are considered to have a high correlation with physical29

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

Year
Hours

34

36

35

33

31

Union membership rate
(percentage of all employees covered by collective bargaining agreements)

％

-

-

94.6

94.7

94.7

Employment rate of persons with disabilities

％

2.26

2.51

2.75

2.74

2.68

1.1

1.1

0.9

1.1

1.6

3.5

3.7

3.4

3.6

3.5

1.4

1.4

1.2

1.4

1.9

Male
Turnover rate

Female％and mental illness, and set numerical targets to be achieved by FY2023
to encourage employees to change their behavior.
Targets (until FY2023)

Current level (FY2022)

Exercise
Increase the percentage of employees who walk an
average of 8,000 steps or more per day to 50% or more
habit

41.1%

Smoking Reduce the number of smokers by 25% from therate
FY2018 level(FY2018: 25.8%⇒ Target: 19.3%)

21.1%

Percentage receiving
physical examinations
Employees at high risk
(continuing to receive
health guidance)

R4

100％

100％

61.8%

61.9％

53.2%

53.1％

Percentage of employees receiving the check

100％

100％

100％

Comprehensive health risk (national average: 100)

86

87

86

Male

71.2％

75.7％

74.6％

Female

68.8％

75.2％

69.9％

22.4%

20.2％

20.3％

83.1％

80.3％

80.3％

45.1%

40.5％

40.1％

0.5%

0.6%

0.6％

67.8%

72.0%

77.5%

Employees subject to specific healthguidance * Among those aged 40 or older
Employees participating in specific healthguidance * Participation rate of the first
support program

Employees at high risk
Percentage of those receiving detailed(continuing to receive
examination
treatment)
Absenteeism* Method: Percentage of employees on leave due to accident or
sickness* Number: All employees* Response rate: 100%
Participation rate in "Minna de Arukatsu" * A walking event
hosted by JR- KENPO
Employee health literacy

R3

100％
60.0%

* Aged 40 or older

Percentage of employees with any problem observed
Stress check

R2

52.3％

Employees maintaining normal weight(FY)

Results

Item

2 Employees should promote their own health. The Company shall support this.

Encourage employees to change their behavior
and prevent them from getting sick

36.9

36.7

Percentage of employees receiving regular health checkups

3 We verify the effects of those efforts and further promote health based

2022

36.9

Average number of training hours per year

Employees are able to exercise their full potential

Decrease in employees with working restrictions,on leave, or resigning

2021

37.1

31.7

All

Expected effect

2020

37.4

36.9

Age

All

Management target thatshould be achieved by healthand productivity management

2019

37.6
31.2

Purposes and organization

Management Philosophy "Contribute to the developmentof Japan's main transportation artery and social infrastructure"

2018

All

FemaleAverage years of service

Purposes (Targets and actions)

Outstanding Organizations for our various initiatives
focusing on health and productivity management.
We will continue to make efforts to promote themaintenance and enhancement of physical andmental health of all of our employees so that they can
exercise their abilities to the fullest.

Personnel-related data
Male

medical institute (Nagoya Central Hospital), and the Occupational Health
Department (Health Care Center).

For the walking event held by the JR Group Health Insurance Association, weare making company-wide efforts by establishing an original incentive system.

Selected as "White 500" under the 2023 Certified Health & Productivity Management Outstanding Organizations
The Ministry of Economy, Trade and Industry (METI) awards
corporations, including large corporations and small and medium-sizedenterprises, that practice particularly excellent health and productivity
management, based on their efforts to address local health issues and thehealth promotion initiatives promoted by Nippon Kenko Kaigi. Selected as"White 500" under the 2023 Certified Health & Productivity Management

We are actively enhancing health and productivity management in order to maintain and promote the health of our employees, which is the foundationfor our continuing to fulfill our social mission.

In order to achieve our mission to "Contribute to the development ofJapan's main transportation artery and social infrastructure" shown in ourmanagement philosophy, it is essential that each and every employee
demonstrate his/her full potential. In order to maintain and promote
employee mental and physical health as its basis, we established the Health
Promotion Policy as our overall policy for health promotion measures in
April 2018 for the Company to actively support the maintenance andpromotion of employees' health.

● Walking event "Minna de Arukatsu"

・Mental health seminar (offered in various training programs, etc.)
・Lectures on health by occupational physicians or public health nurses (held at workplaces)
・Appointing staff in charge of health promotion at each workplace and holding training sessions for them

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

30

Highlight

Business Strategy

Generating "Economic Value"

Corporate Data

Creating "Social Value"

Financial Data

Generating "Economic Value"

Financial Data
*1 Operating revenues of each segment include the amount of sales to other reportable segments as well as the amount of sales to external customers. *2 Figures for the period between FY2021.3 andFY2023.3 have decreased because of the impacts of the COVID-19 pandemic.
*3 For Merchandise and Other, the accounting standards for revenue recognition have been applied since FY2021.3.

Opera tin g Re v enues an d O p e r a t i n g I n c o me ( L o s s ) o f e ac h S e g m en t
Merchand ise and Ot her

T r ans p o r tat ion(Billion yen)
-400

(Operating revenues)
0

400

800

’23.3

1,200

338.5
-8.3

533.0

’21.3

-183.3

1,431.2’20.3

1,461.3
664.8
-200

0

200

400

600

(Operating revenues)
-100

-50

0

50

150

200

250

’21.3

-12.2
264.9
9.6
-10

-5

0

5

10

(Operating income/loss)

15

20

25

Railways Business
Affiliated Businesses
Operating Expenses
Railways Business
Affiliated Businesses
Operating Income (Loss)
Ordinary Income (Loss)
Income (Loss) before Income Taxes
Net Income (Loss)

80

30

77.3

1.1

’21.3

1.3

69.1
79.9
19.0
82.1
20.2

’19.3
5

10

15

Ordinary Income (Loss)Net Income (Loss) before Income Taxes
Net Income (Loss) Attributable to Owners of the Parent

Net Income/Operating Revenues
Operating Income/Total Assets
Equity Ratio
Earnings per ShareDividend per Share

251.6
272.2
13.5
261.0

’19.3

16.1
0

5

10

15

20

(Operating income/loss)

FY2019.3

FY2020.3

FY2021.3

FY2022.3

FY2023.3

FY2019.3

FY2020.3

FY2021.3

FY2022.3

FY2023.3(Billion yen)(Billion yen)(Billion yen)(Billion yen)(Billion yen)(Billion yen)(Billion yen)(Billion yen)(Billion yen)(Billion yen)

1,464.8
1,452.0
12.8
797.1
788.7
8.3
667.7
590.1
590.1
414.0

1,436.9
1,422.2
14.7
813.9
805.4
8.4
623.0
540.0
539.9
378.8

541.7
527.4
14.3
717.7
709.4
8.2
- 175.9- 256.6- 277.8- 202.3

726.0
711.3
14.6
727.3
719.0
8.2
- 1.2
- 74.0- 89.4- 68.1

1,143.3
1,126.7
16.6
797.0
788.3
8.7
346.3
278.8
282.9
201.9

3,630.6
2,670.5
5,665.0
4,706.6
77.5
880.8
9,295.7
650.2
5,137.4
3,000.0
5,787.6
4,851.1
3,508.0
9,295.7

3,382.6
2,435.0
6,220.4
4,925.1
91.1
1,204.1
9,603.1
625.6
5,105.3
3,000.0
5,731.0
4,846.0
3,872.1
9,603.1

3,023.8
2,076.1
6,576.5
5,176.7
110.4
1,289.3
9,600.3
824.0
5,089.6
3,000.0
5,913.7
4,932.6
3,686.6
9,600.3

2,682.7
1,813.0
6,767.7
5,407.6
142.0
1,218.09,450.5
737.3
5,103.9
3,000.0
5,841.2
4,941.6
3,609.2
9,450.5

2,712.2
1,585.2
6,802.1
5,612.6
159.4
1,030.1
9,514.4
729.4
4,977.8
3,000.0
5,707.2
4,949.8
3,807.1
9,514.4

Current assets
Of these assets, the Chuo Shinkansen Construction Fund Management Trust
Fixed assets
Tangible fixed assets
Intangible fixed assets
Investments and other assets
Total assets
Current liabilities
Fixed liabilities
Of these liabilities, long-term debt for the Chuo Shinkansen

Of these liabilities, long-term debt and payables

FY2019.3

FY2020.3

FY2021.3

FY2022.3

FY2023.3(Billion yen)(Billion yen)(Billion yen)(Billion yen)(Billion yen)

1,878.1
1,168.3
709.7
632.6
630.2
438.7

1,844.6
1,188.4
656.1
574.2
573.4
397.8

823.5
1,008.2- 184.7- 262.0- 268.5- 201.5

935.1
933.4
1.7
- 67.2- 66.7- 51.91,400.2
1,025.7
374.5
307.4
306.1
219.4

F inanci al Statem ent R at io s ( C o n s o l i d a t e d )Return on Equity

234.4

’20.3

25

300

10.0

(Operating income/loss)

Total net assets

Operating Income (Loss)

225

C o m pa r a t i v e B a la n c e S h e e t ( C o n s ol id a t e d )C omparative I ncom e St at em e n t ( C o n s o l i d a t e d )Operating Revenues

20

150

249.4

’22.3

13.0

(Operating revenues)
75

72.2
14.9

0

0

’23.3

Total liabilities

Operating Expenses

100

17.3

(Operating income/loss)

C omparative I ncom e St at em e n t ( No n - c o n s o l id a t e d )Operating Revenues

60

’20.3

7.4

-15

40

’21.3
263.2

(Billion yen)

(Operating revenues)
20

’22.3
174.7

’19.3

0

’23.3

102.7
-3.7

O th er(Billion yen)

300

8.3

’22.3

800

100

138.7

’20.3

617.6

’19.3

-150

’23.3

717.6

’22.3

(Billion yen)

1,600

1,134.0

R ea l E st a t e

Total liabilities and net assets

C o m pa r a t i v e C a sh F l o w S t a t e m e n t ( C on so l i da t e d )FY2019.3

FY2020.3

FY2021.3

FY2022.3

FY2023.3(Billion yen)(Billion yen)(Billion yen)(Billion yen)(Billion yen)

Cash flows from operating activities

600.3

595.2

- 169.3

71.7

486.7

Cash flows from investing activities- 597.5- 552.4- 134.7- 153.0- 1 75.0- 397.8- 459.0- 493.5- 478.1- 445.2

358.8
262.6
- 41.4
761.3
719.9

263.0
61.9
- 19.1- 100.4
719.9
619.4

227.7
42.4
- 220.6
91.0
619.4
710.5

Payments for purchases of tangible/intangible fixed assets, etc.

FY2019.3

FY2020.3

FY2021.3

FY2022.3

FY2023.3

Proceeds/expenditures concerning the Chuo Shinkansen
Construction Fund Management Trust (net amount)

170.3

235.5

13.4%
23.4%
7.8%
37.3%
¥2,238
¥145

10.9%
21.6%
6.9%
39.9%
¥2,027¥150- 5.4 %

- 1.4 %

Proceeds/expenditures from fund management (net amount)- 370.0- 328.9- 24.5 %- 5.6 %Cash flows from financing activities- 33.6- 32.9- 1.9%

0.0%
37.7%- ¥263¥130

6.0 %
15.7 %
3.9%
39.5%¥1,114¥135

Net increase in cash and cash equivalents- 30.8Cash and cash equivalents at beginning of period

782.4
751.6

9.7
751.6
761.3

37.9%
- ¥1,025¥130

Cash and cash equivalents at end of period* Some figures for the period between FY2021.3 and FY2023.3 have been affected by the COVID-19 pandemic.

31

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

32

Highlight

Business Strategy

Generating "Economic Value"

Corporate Data

Creating "Social Value"

Financial Data

Financial Data

Tr an spor tati o n a nd Fi nan ci a l I n f o r ma t io n
Transportation Revenues

Total

Ordinary tickets

Commuter passes

Conventional Lines

Shinkansen(Billion yen)
1,300

1,291.8

1,200

1,273.6(Billion yen)120

1,261.3
1,242.9

589.8

950

417.3

500
400

578.0

104.8

10

68.8

58.8

35.2

35.4

30.0

12.9

11.7

’20.3

’21.3

’22.3

’23.3

’19.3

’20.3

Passenger-kilometers

30.1

Total

(Million passenger-kilometers)

56,27760,00050,00054,75840,00054,00952,467

Commuter passes

41,331

18,199
1,519

1,542

17,196
1,004

’19.3

’20.3

’21.3

15,000

8.0

6.01 6.08

6.53 6.39

3,455.7 3,415.6

6.19

5.90 5.84

5.43

5.21 5.16 5.08 5.01 4.91

3,260.1 3,177.6

5,676

5,739

3,783

3,679

1,087

’22.3

’23.3

2,000

’19.3

’20.3

4.75 4.62 4.51

2,614.9

4.30

2,351.7

4.08 3.91

3.71 3.54

2,136.3
4.0

1,915.6

3.36 3.24 3.14 3.13
3.10 3.12
1.66 1.65 1.64 1.60 1.60 1.59 2.0

4,892

0

Passenger Ridership

6.0

2,829.1
, .

1,000

4,000

979

3,369.0
3,117.0 3,001.5

2.00

7,765

6,840

6,411

6,000

24,198

1,000
0

4,792

1,651

2,048

2,873

’21.3

’22.3

’23.3

Total

0

0

4,759

’88.3 ’89.3 ’90.3 ’91.3 ’92.3 ’93.3 ’94.3 ’95.3 ’96.3 ’97.3 ’98.3 ’99.3 ’00.3 ’01.3 ’02.3 ’03.3 ’04.3 ’05.3 ’06.3 ’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

Ordinary tickets

Commuter passes

Conventional Lines

Shinkansen(Million passengers)
174
200
160
120
159
80
70
60
50
20
10
0

168

131

(Million passengers) 414
400

413

271

274

143

139

84

152

300

120

64

200

73
15

16

53
11

’19.3

’20.3

’21.3

232

100

10

11

’22.3

’23.3

320

306

351

■ Long-term Loan Using the Fiscal Investment and Loan Program (Long-term debt for the Chuo Shinkansen)

236

In November 2016, JR Central applied for a long-term loanusing the Fiscal Investment and Loan Program (hereinafter,“FILP
Loan”) for 3 trillion yen (plan) to Japan Railway Construction,
Transport and Technology Agency “JRTT”() to promote theconstruction of the Chuo Shinkansen. We proceeded to borrowfunds in five lots sequentially thereafter and secured financing
for a planned total of 3 trillion yen in July 2017.
The advantage we gain from the FILP Loan lies in mitigating
three management risks, which are interest-rate increase risk,
financing risk, and redemption risk.
Specifically, since we can secure long-term fixed- and lowinterest rate funds, we are able to mitigate the risk of interest
rates rising in the future and fix interest payments at a low level
for a long period of time.
While we expect that the construction cost for the route
between Shinagawa and Nagoya will be 7.04 trillion yen, by
securing 3 trillion yen out of the amount expected to require
new financing through the FILP Loan, we were able to reduce
our financing risk.
Furthermore, since the FILP Loan matures after theconstruction period of the Chuo Shinkansen, during which timea large amount of funds is needed, we are able to build up
cash from operating activities to provide for the redemption of
liabilities, thereby also mitigating redemption risk.
In the material submitted to the Transport Policy Councilof the Ministry of Land, Infrastructure, Transport and Tourism
in 2010, we indicated in our outlook that a period of eight
years after start of operation in Nagoya will be set to recovermanagement strength. After reducing long-term debt by acertain amount, construction on the route between Nagoya andOsaka will be initiated while seeing that sound management
and stable dividends are strictly maintained, and ensuring that

231
89

115

74

’21.3

’22.3

’23.3

0

’19.3

’20.3

* Figures for the period between FY2021.3 and FY2023.3 have decreased because of the COVID-19 pandemic.

Capital Investment Amounts (Non-consolidated)

Capital investment amount (excluding the Chuo Shinkansen)

Chuo Shinkansen(Billion yen)
700
650

586.0

600

533.5

550

521.4

499.6

500

481.7

448.8

450
400

384.5

350

330.8

300

277.4 265.2

250

197.8 211.1

200

159.5

174.3

288.8 298.4 301.6
257.2 259.1

244.8

229.0

209.8
166.9 164.8 171.3 172.6 159.2 156.8 151.5 157.6 161.5 169.8 155.5

120.3

128.5 128.3

100
50 50.1
0’88.3 ’89.3 ’90.3 ’91.3 ’92.3 ’93.3 ’94.3 ’95.3 ’96.3 ’97.3 ’98.3 ’99.3 ’00.3 ’01.3 ’02.3 ’03.3 ’04.3 ’05.3 ’06.3 ’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 ’24.3(plan)* The planned ﬁgures are those announced in March 2023.

Dividend per ShareDividend per share

Net income/loss (non-consolidated)(Yen/Year)
150

100

65

50

50

50

50

50

55

40

51

41

43

66

90

116

’00.3

’01.3

’02.3

’03.3

’04.3

’05.3

’06.3

75

85

90

90

90

95

50

0

4,125.5

9,418

8,000

25,176（％）

4,856.2 4,851.1 4,846.0 4,932.6 4,941.6 4,949.810.0

4,801.0
, .

2,000

9,459

10,00042,41820,000150

4,922.2, .

(Million passenger-kilometers)

25,000

2,000

3,000

’23.3

Ordinary tickets

Average interest rate (year-end)

3,665.8

6.35

’22.3

Long-term accounts payable-Railway facilities

Long-term debt for the Chuo Shinkansen, .
3,943.4

6.81

29.5

’21.3

5,045.2

4,289.3

Conventional Lines

Shinkansen

5,164.3

4,000

0

’19.3

5,346.3 5,278.5

53.6

28.7

Long-term debt

4,560.8

37.8

20

0

5,456.2 5,422.3 5,392.0

5,000

67.3

60
40

12.0

69.5

Corporate bonds

12.0

5,269.3 5,223.0 5,232.7 5,195.6

83.8

80

Inherited liabilities

Latent liabilities borne by the Shinkansen Leasing System

104.2

100

405.2

18.4

18.1

20

986.1
973.2

Long-term Debt and Payables (Non-consolidated)(Billion yen)
6,000

130
’07.3

153
’08.3

121
’09.3

88

123

’10.3

’11.3

120
’12.3

105

115

120

125

135

140

145

(Billion yen)

150
130

130

135
600

187

240

260

328

381

384

201

414
378

200
0

-68

-202

’13.3

’14.3

’15.3

’16.3

’17.3

’18.3

’19.3

’20.3

400

-200

’21.3

’22.3

the balance of long-term debt does not exceed 5 trillion yen
throughout the project period until start of operation of theentire line. By utilizing this FILP Loan, we are able to reduce
this period for restoring management strength and promote
construction efforts in an aim to move up start of operation of
the entire line by up to eight years.
The Chuo Shinkansen Project is pursued based on thepremise that JR Central, as a private corporation, covers the fullcost of construction, while securing management autonomy ininvestment and ensuring that sound management and stabledividends are strictly maintained until the construction work is
fully completed. The FILP Loan does not change this premise.
As for the terms of the FILP Loan, the weighted average rate
is 0.86%, which is fixed throughout the entire period, and theannual interest expenses are 25.7 billion yen. The repayment
method is equal principal payment over a period of roughly
10 years after deferring the payment of principal for about 30
years.
The funds procured from the FILP Loan will be applied only
for the cost of construction of the Chuo Shinkansen, and thetransparency is ensured in fund management by the trust.
Illustrated plan of moving up start of operation
Existing
plan

Construction between
Shinagawa and Nagoya

Management strength
restoration period(8 years)Move upstart ofoperation

Construction between
Shinagawa and Nagoya

Construction between
Nagoya and Osaka

Construction between
Nagoya and Osaka

Start of operationin Osaka

Start of operationin Osaka

Equal principal
redemption overMoving up start of operation by up to 8 years a period of about
FILP Loan Deferred ﬁxed-/low-interest for about 30 years

10 years’23.3*1 With respect to the amount of dividend per share for FY2013.3, given the adoption of the unit share system of splitting 1 share of common stock into 100 shares and setting one (1) unit of shares as 100 shares eﬀective
October 1, 2012, the amount was calculated on the assumption that the stock split was conducted at the beginning of the period.
*2 The amount of dividend per share for FY2012.3 and prior is shown by dividing the amount by 100 for the ease of comparison with the amount for FY2013.3 and thereafter.
*3 Net income (loss) for the period between FY2021.3 and FY2023.3 have decreased because of the impacts of the COVID-19 pandemic.

33

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

34

SocialCreating "Social Value"

Corporate Data

Social

Tit lePresident

Building Safe and Resilient Infrastructure
Ensuring safe and reliable transportation is a prerequisite for all business development and marks the foundationof the railway business; therefore, we have consistently given top priority to this issue. Specifically, with regard
to the Tokaido Shinkansen as the main transportation artery of Japan and the conventional lines as social
infrastructure, we are building a safe and resilient infrastructure by promoting various safety measures in both
physical and non-physical aspects to support Japan’s economic and social activities in a sustainable manner.

0

Total safety-related investment
since the company’s foundation:

4.4

trillion yen

R esponsibilit y
Decides important matters related to operational safety.

General safety
manager● Ensures that all employees are fully aware of the importance of safety and comply with laws and regulations to ensure transportation safety.
● Provides opinions to the President on necessary improvements to ensure transportation safety.
● Confirms the status of systems related to ensuring transportation safety as needed, and expresses opinions on improvements to head officemanagers who are in charge of the main operations related to ensuring transportation safety, as necessary.
● Supervises and manages other matters related to ensuring transportation safety.

Operation
manager

In order to ensure transportation safety, requests reports and gives instructions as necessary concerning the formulation oftransportation plans, makes decisions on the operation of train crews and rolling stock, train operation control, training of traincrews and maintenance and management of their qualifications.

Crew guidance manager

Trains crew members and maintains and manages their qualifications.

Safety Promotion Committee
In order to have a focused deliberation of matters regarding theprevention of railway operation accidents, industrial accidents anddisasters and design and promote effective measures, we have established
the Railway Safety Promotion Committee at the Head Office, whichmeets once every month, and sets up specialized committees whenever

General Principles of Safety
JR Central has the General Principles of Safety as the basic spirit for
employees involved in transportation safety. It was established following
a 1951 accident at Sakuragicho Station on the Keihin-Tohoku Line while
we were operating as part of Japan National Railways. The principles
specifically state that the correct mindset and moral awareness andattitude are needed for all employees to do their utmost to ensure
safety and protect human lives above all else, regardless of their job
responsibilities, because the railway business is an important service withthe responsibility to safeguard precious lives and assets.
As a result of various safety efforts, especially the Tokaido Shinkansen

Under the philosophy of the General Principles of Safety, we establishedthe“Basic Approach to Safety”and are abiding by it. We maintain safety
through“people,”“structure”and“equipment,”and what forms thebasis is the culture of prioritizing safety. The diagram on right describes a
structure whereby a culture in which safety is prioritized above anythingelse is firmly established and all individuals practice safety-first behavior,
upon which each of the three elements of“people,”“structure”and“equipment”support safety.
The first pillar of“people”represents ongoing efforts to enhance theability of employees to detect risks and changes and deal with themwithout fail on their own initiative, and the ability to deal with difficult
situations through effective education and training.
The pillars of“structure”and“equipment”respectively represent
ongoing efforts to ensure adherence to, and review,“structures,”including
rules and handling, by accurately grasping situations on the ground fromthe correct perspective regarding safety and looking into weaknesses
based on changes in the environment, signs and lessons learned fromline, which has been used byabout 6.8 billion passengers, has
had no accidents resulting in thedeath of passengers since the startof its operation in 1964. We willcontinuously work to maintain safeand reliable transportation as our
top priority, aiming to achieve it ateven higher levels

Railway Safety Promotion Committee
Specialized committees

General Principles of Safety▶ Safety Report https://company.jr-central.co.jp/others/report/others, and improve the safety of“equipment”by introducing newtechnologies, including predictive management methods. We are working
to maintain safety while continuously reviewing and enhancing these twopillars, along with the pillar of“people,”as“structures for safety.”

Make our work safer

PeopleStructure Equipment

Shinkansen Operations Division
Safety Promotion Committee

Kansai Branch Office
Safety Promotion Committee

Regional Safety Promotion Committee

Regional Safety Promotion Committee

Regional Safety Promotion Committee

Regional Safety Promotion Committee

Field offices

Field offices

Field offices

Field offices

Construction Department
Safety Promotion Committee

Chuo Shinkansen Construction
Department
Safety Promotion Committee

Safety Audit
Safety audits are conducted at JR Central’s business organization andaffiliate companies to prevent train accidents and labor accidents. These
audits are performed based on three basic policies: confirmation of
the level of compliance with laws and regulations, etc., confirmation of
measures in place to prevent train and industrial accidents, and preventionof recurrence of the kind of train and labor accidents whose details have

In order to maintain safety it is essential, as the basic premise, todevelop human resources with high technical capabilities, a strong will, andthe correct values to support safety. In developing human resources, we
believe it is important to observe our own rules “discipline”(), to maintain

Technical skills training

been investigated. In audits, we verify the actual status of daily operations
by checking sites where work is being carried out and the documents
related to inspections, construction, etc., and share the results. Throughthese audits, we are working to prevent violations of laws and regulations,the forgetting of past countermeasures in response to past accidents, andlapses of rules before an incident occurs.

and improve quality and prevent accidents “technical(capability”), andto gain a“sense of unity”by collaborating and cooperating with related
employees and by fulfilling personal responsibilities. Focusing on theseissues, we are engaged in employee training and education.

Employee training in preparation for contingencies

quality,”“advance elimination of risks,”and“practice of safety-first actions
in emergencies”as the five priority execution items. All employees areworking together to eradicate serious train accidents and industrial
accidents from both physical and non-physical perspectives.

decisions regarding operational safety. In addition, the general safety
manager, operation managers, and crew guidance managers have been
designated, and their respective responsibilities have been determined.
The roles of head office managers in ensuring transportation safety havebeen clarified, and safety measures have been systematically establishedand promoted under a consistent system.

In FY2022, we conducted
practical training to improve
technical capabilities and enhancecollaboration between related lines
and affiliated companies, aiming
to ensure capabilities for rescueof customers and early restorationin times of major disasters andcontingencies.

Safety-ﬁrst behavior

Emergency condition response training

Operational system to ensure transportation safety

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

Shizuoka Branch Office Railway
Safety Promotion Committee

We implement safety education and training for staff engaging in
train operations and facility maintenance. We conduct education andtraining especially for staff engaging in train operations (such as drivers,
conductors and directors) according to the content and time stipulated
for each duty.
We introduced simulators, which can perform operations simulation
training, etc. for emergencies, to field offices for drivers and conductors.
We also conduct various training sessions using actual rolling stock andrailway lines, so that employees on each system can swiftly and accurately
respond to emergencies.

Safety Management System

Based on the Railway Business Act, JR Central established the Safety
Management Regulations in September 2006, which summarize therules to be observed for ensuring transportation safety, with the aimof maintaining and improving safety levels. These regulations specify
the operational system for ensuring transportation safety and the
responsibilities of safety managers.
As the key safety manager, the President is the first to make important

Conventional Lines
Operations Division
Safety Promotion Committee

Initiatives for Human Resources to Ensure Safety

Priority Execution Items for FY2023
In order to systematically and intensively promote train and industrial
accident prevention measures, priority execution items are determined
every fiscal year. For FY2023, we designated“adherence to rules by
everyone,”“thorough checks,”“education and training with enhanced

necessary to intensively deliberate on the matters assigned to them.
Furthermore, each Operations Division and Branch Office has a Safety
Promotion Committee. We make sure all staff at field offices are awareof the matters decided by the Safety Promotion Committee through theRegional Safety Promotion Committee.

President

Basic Approach to Safety

35

Generating "Economic Value"

Responsibility of key safety managers

Creating“Social Value” －Social－

Number of accidents resulting in
fatalities or injuries to passengers
on board since Tokaido Shinkansen
began operation:

Highlight

Business Strategy

Training for recovery from derailment

We train all employees togo beyond the call of duty
in working together with thetrain crew, etc., to respond
appropriately should employees
happen to be present when
unforeseen circumstances
occur while commuting or on abusiness trip.

Employee training in preparation for contingencies

Other training
The General Education Center
offers education on specialized
knowledge and skills for eachfunction, and provides sessions
for various qualifications andtraining for train conductors
and drivers by using a varietyof training facilities that cansimulate various events that canoccur in actual situations.

Training for Shinkansen conductors

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

36

Business Strategy

Highlight

Generating "Economic Value"

Corporate Data

Creating "Social Value"
SocialBuilding Safe and Resilient Infrastructure

Capital Investment for Safety
JR Central has actively implemented capital investment related tosafety since its establishment. In the 36 years up to FY2022, we havemade safety-related investments totaling over 4.4 trillion yen, including
safety measures such as updating the Automatic Train Control (ATC) on
the Tokaido Shinkansen, and introducing ATS-PT (Automatic Train Stop)in all of our conventional lines, as well as disaster prevention measures
such as seismic reinforcement, improvements in electrical equipment,
replacement of rolling stock, and the introduction of efficient andeffective inspection machines and systems.
In FY2023, we will continue to place top priority on ensuring safeand reliable transportation, which is the starting point of our railway
business. In order to further reinforce structures along with earthquake
countermeasures, JR Central will pursue derailment and deviation
countermeasures for the Tokaido Shinkansen by implementing
derailment prevention guards for the entire line. We will also proceedwith the seismic reinforcement of platform sheds, the implementationof measures to prevent suspended ceilings at stations from falling in theevent of an earthquake, rebuilding of the Nagoya rolling stock repair andinspection depot, and reinforcing the quake resistance of elevated trackcolumns of conventional lines, etc. Furthermore, we are conducting
research and design work in preparation for the installation of automatic
platform doors in all Shinkansen stations and, for conventional lines, areadvancing the work to install such doors on Platforms 5 and 6 (outboundTokaido line) and Platforms 7 and 8 (Chuo line) at Nagoya Station. As

Crossing obstacle detection systems
a result of these efforts, about 80% of the total capital investment inTokaido Shinkansen, conventional lines, and affiliated businesses, or 193
billion yen, is planned as safety-related investment.
Trends in safety-related investment(Billion yen)
240

214.1
205.0 210.3

220
200

173.1 173.1

180

167.3 170.1

143.5
140

If any abnormality is detected by crossing obstacle detection
systems, related signals indicate“stop.”In addition, a“crossing ATS

120

80

Earthquake-Resistance Measures

60
40

39.1

20

Tokaido Shinkansen

0
FY1987FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023

At the time of（ establishment）(plan)(overall renovation) are
implemented.
The reserve of 350 billion
yen accumulated by FY2012
was appropriated at a rateof 35 billion yen each year
beginning in FY2013 until
the end of 2022, when theappropriation came to an end.
We will continue to make
improvements, etc. to ourconstruction methods, thereby
bringing down related costs
while steadily advancing
construction work.

Large-scale Renovation

Type 3Alarm

Type 4

Alarm
Crossing bar

We have been implementing earthquake-resistance measures for various
civil engineering structures and buildings so as to prevent Shinkansen
services from being suspended for a long period of time in the event of anearthquake. Furthermore, starting in FY2021, we are implementing seismic
reinforcement of platform sheds.

JR Central adopts an earthquake disaster prevention system* that
detects tremors, automatically stops power transmission, and issues
orders to moving trains to make an emergency stop. We have also madeimprovements to the“Earthquake Brake”on rolling stock in an effort to
reduce the stopping distance at the time of an earthquake. For the N700S,
which we launched in July 2020, we made improvements to the ATC andthe brake system to further reduce the stopping distance by roughly 5%
compared to the stopping distance of the N700A (3rd edition).

Measures taken and progress
Measures taken

Progress (as of the end of FY2022)

Elevated track columns, bridgepiers, and embankments

Completed* (Elevated track columns: Approximately 19,600; Bridgepiers: Approximately 900; Embankments: Approximately 9.4 km)

Bridge railing (fall prevention)

Under way (completed 2,183 beams out of 2,215 target beams)

Station buildings/ station ceilings /platform sheds

Station buildings: Completed*
Station ceilings: Under way (completed at 10 out of a total of 17 stations)Platform sheds: Under way (at 16 stations excluding Shinagawa)）

Rolling stock workshops, etc.

Completed (Hamamatsu Workshop, buildings at rolling stock depots)*Except for some areas under discussion

Tokaido Shinkansen Earthquake Rapid Alarm System (TERRA-S)
Earthquake early warning(Japan Meteorological
Distant
Agency)seismometer

Seafloor Observation
Network Information for
Earthquakes (NIED)

Suspension of power transmission→Emergency stop of train

Seismometer
alongsiderailway lines

Relay Station
Substation
Vertical earthquakes
Trench-type earthquakes
Detects P-wave (primary tremors) and S-wave (secondary tremors),
and once a certain level of tremors is detected, issues an order for trains to stop

* The illustration shows an example.

FY
1987

1,512

FY
2022

Type 3257 363

1,768

0

500

1,000

Type 4

2,132
1,864

5
1,500

Conventional Lines
Reinforcement of structures
In order to minimize the impact of earthquakes, we are implementing
earthquake-resistance measures on various civil engineering structuresand buildings. Furthermore, as with Shinkansen, starting in FY2021, we are
implementing the seismic reinforcement of platform sheds.

Historical number of railway crossings and crossing types
Type 1

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

For the Tokaido Shinkansen, we are promoting derailment and deviation
countermeasures to prevent the expansion of damage from derailment
caused by an earthquake. We are working to introduce such measures
as installation of“derailment prevention guards”which prevent vehicle
derailment to the extent possible.
We expect to complete theimplementation of these measures on
the entire line by FY2028.“Deviation
prevention stoppers,”which preventa major derailment of rolling stock inthe event of a derailment, have alreadybeen installed on all of the rollingstock running in our service area.
Derailment prevention guards

Types of railway crossings
Type 137

Structural Reinforcement*After introducing the “Urgent Earthquake Detection and Alarm System (UrEDAS)” in 1992 aheadof other companies, we continued to further accelerate the speed of the alarm by introducing the“Tokaido Shinkansen Earthquake Rapid Alarm System (TERRA-S)” in 2005 and started utilizing
information from the Seafloor Observation Network for Earthquakes and Tsunamis in April 2019.

A particularly important factor for improving the safety of Conventional
Lines is measures to prevent accidents at railway crossings. We areworking to install crossing gates, crossing obstacle detection systems,
etc., and are taking such drastic measures as eliminating crossings by,for example, elevating the tracks, for which we negotiate with local
governments. As part of effort to prevent crossing accidents, we arealso actively working on activities to raise awareness, including crossing
accident prevention campaigns.

Crossings are classified by the equipment they have into three types:
Type 1, which has crossing gates and alarms, Type 3, which has only
alarms, and Type 4, which has neither gates nor alarms.
Work to upgrade Type 3 and 4 crossings into Type 1 is under way,considering such factors as the amount of road traffic, the amount ofrailway traffic, and the situation surrounding the crossing.

Implementation of derailment and deviation countermeasures

Initiatives to stop trains quickly

Railway Crossing Accident Countermeasures

Improvements to crossing equipment

system”that complements the brakes manually operated by the driver
has been introduced in phases since FY2021.

100

Tokaido Shinkansen

Conventional Lines

High-performance crossing obstacle
detection system (laser sensor type)Measures to prevent collision with obstacles

160

Large-scale Renovation

Our civil engineering structures are sufficiently maintained throughthorough daily inspections and repair. However, in future, it will be
inevitable to replace many of the facilities due to aging. We received theapproval of the Minister of Land, Infrastructure, Transport and Tourism forour allowance reserve plan for the large-scale renovation of Shinkansen
infrastructure for the Tokaido Shinkansen based on the Nationwide
Shinkansen Railway Development Act, and began building the reservefrom 2002. Along with this, we have advanced our research on a new
construction method, led by our Komaki Research Center. As a result of
our R&D efforts, we developed a new construction method that allows us
to significantly reduce the impact on train operations during construction
work, and to considerably cut construction costs. With this method inplace, JR Central began the renovation work in FY2013, ahead of theoriginal schedule. In construction work, we begin with the implementationof measures to extend the life of structures by inhibiting the occurrence of
cracking and other damage from aging (measures to inhibit aging damage)and, if necessary, overall renovations such as the replacement of girders

is high and that experience highamounts of pedestrian, bicycle, andother traffic.
We also have emergency buttons(crossing trouble alert systems),
the pressing of which causes
related signals to indicate“stop,”
thereby alerting train drivers of any
abnormality occurring at a crossing.

193.0

186.2

180.8

For cases in which a vehicle obstructs a crossing, we install crossing
obstacle detection systems that can detect stuck vehicles using
infrared or laser beams, and systems that can issue an alert if thecrossing gates do not close. If the crossing detects an abnormality,
the related signals are made to indicate“stop,”and trains are madeto stop before they reach the crossing. Starting in FY2022, we havebeen introducing a high-performance laser sensor crossing obstacle
detection system, which has better performance at detecting
pedestrians, bicycles, wheelchairs, etc., at crossings where train traffic

91
2,000

Initiatives to stop trains quickly
Information from the aforementioned earthquake disaster prevention
system will be used to detect initial weak tremors in case of anearthquake, and provide a warning to the driver’s cabin of trains travelingin segments that are likely to be impacted significantly by the earthquake,
instructing the driver who receives the warning to apply the brakes
immediately. Furthermore, we worked to strengthen the functions ofseismometers alongside railway lines since FY2016. As a result, we now
can issue warnings to trains more quickly than before.

Measures taken and progress
Measures taken

Progress (as of the end of FY2022)

Elevated trackcolumns, and bridgepiers*

Elevated track columns: Under way (completed 5,078 columns
previously targeted by the end of FY2017. Since FY2019, 3,338 havebeen newly added and 1,124 have been completed for the purpose offurther early recovery in the event of a disaster.)
Bridge piers: Completed (4 target piers)

Bridge railing* (fallprevention)

Completed (1,985 target beams)

Station buildings/ station ceilings /platform sheds

Station buildings：Under way (completed for stations used by at least 5,000
passengers per day, excluding some areas under discussion)
Station ceilings: Under way (completed 22 stations of the 30 target stations
used by at least 10,000 passengers per day)Platform sheds: Under way(completed three stations of the 24 stations used by at least 10,000
passengers per day, excluding stations requiring no reinforcement)

Rolling stock
workshops, etc.

Nagoya Workshop: Completed
Nagoya rolling stock section: Rebuilding of the repair andinspection depot is under way*Earthquake-resistance reinforcements under way in sections including those where there are at least 10 departures
per peak hour and where a long, strong earthquake vibration is expected in the case of a Tokai Earthquake

2,500

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

38

Highlight

Business Strategy

Generating "Economic Value"

Corporate Data

Creating "Social Value"
SocialBuilding Safe and Resilient Infrastructure

Response to Other Natural Disasters
Trends in measures against disasters (extracts)

Tokaido Shinkansen

Conventional Lines… 1995～

2000～

2005～

2010～

2015～

(Year)

2020～

Jan. 1995 Great Hanshin-Awaji Earthquake

In addition to earthquakes, the prevention of accidents caused by natural disasters such as tsunamis, heavy rain, typhoons andsnowfall is one of the important pillars of our safety measures, and we are implementing various measures.

1996 ‒ Implementation of measures to prevent prolonged interruption of train service (reinforcement of elevated bridge pillars, etc.)
1996 ‒ Establishment of Shinkansen Second General Control Center2010 ‒ Reconstruction and reinforcement (Hamamatsu Workshop, Nagoya Workshop, etc.)

Earthquake-Resistance
Measures

Tsunami countermeasures
JR Central defines the Conventional Line segments that a tsunami is expected to reach as a“tsunami
hazard expected area,” based on the tsunami hazard map of each municipality. When a tsunami
is expected, first of all, we make arrangements to ensure that no trains enter the “tsunami hazard
expected area.”For trains already in the area, we move them out of the area or guide passengers to asafe place. In addition, a“tsunami warning sign”has been installed in the area to indicate the directionof evacuation. We also take measures to evacuate quickly by displaying the evacuation route to thenearest evacuation center on tablet devices for conventional line train drivers distributed to train crews.
Furthermore, to ensure that these measures can be taken, we make sure that staff are aware of themand conduct evacuation training using actual rolling stock in cooperation with local municipalities.

Rain countermeasures
We are taking measures such as protecting the slopes of embankments and cut
sections with concrete and other materials, laying drainage pipes to promote drainage, andinstalling earth and sand stoppers to prevent the inflow of earth and sand. Furthermore,rain gauges are installed along railway lines, and when the amount of rainfall exceeds
the regulation value, a warning is automatically issued to the control center, train station,etc., and operation regulations such as stopping or slowing down trains are carried out.
Furthermore, in June 2020, we introduced an operation regulation using rainfall radars,
which can finely capture“soil rainfall,”a superior indicator for grasping the extent of
sediment disaster risk, and localized heavy downpour, in all sections of Conventional Lines,
thereby securing a higher level of safety.

Evacuationroute display
on tablet
terminal for
conventionalline train driver

2016 ‒ Implementation of countermeasures against falling of station ceilings
2021 ‒ Seismic reinforcement of platform sheds
Sep. 2000 Tokai Heavy Rain

Rain and flooding
countermeasures[Previous indicator] Continuous rainfall (image) [New indicator] Soil rainfall (image)Continuous Simple aggregationfrom the beginningrainfallof rain

Seeping waterfrom current rainfall

Soil rainfall

Snow protection

2020 ‒ Implementation of flooding countermeasures for Shinkansen

Dec. 2005 Derailment accident
on JR East Uetsu Main Line

Oct. 2013 Typhoon 26 (Wipha)2005 ‒ Addition and relocation of anemometers2013 ‒ Relocation of anemometers

Installation of falling rock detectors and falling rock protection equipment
Installation of snow accretion
monitoring ITVs

2003 ‒ Installation of on-vehicle
and ground cameras

2012 ‒ Installation ofsnowfall information system

2020 ‒ Trial of new sprinkler system

Retained water

Time rainfall

Four days Three days Two days Day before The
earlierearlierearlierday

Four days Three days Two days Day before The
earlierearlierearlierday

Operation regulation using“soil rainfall”

Train evacuation drill

Wind protection
Anemometers are installed in areas where wind is concentrated, such as on mountains andbridges, or where gusts are expected to occur. When the wind velocity exceeds a certain value,
an alarm is automatically issued to the control center, train station, etc., and as in the case ofrain, operation regulations such as stopping or slowing down trains are carried out. In addition,
due to geographical and other conditions, some anemometers have an additional function of
automatically displaying a stop signal when the wind exceeds the standard.

Operation Management and Safety Measures
Tokaido Shinkansen
The principle of Crash Avoidance

How ATC works

The biggest feature of the Tokaido Shinkansen and other Japanese
high-speed railway systems is the introduction of an operation control
system based on the principle of Crash Avoidance. This principle
has been derived to prevent the possibility of a collision by using (1)dedicated tracks for high speed passenger rail service, which have nograde crossings, and (2) an Automatic Train Control (ATC) system,
which automatically controls the speed limit of high speed trains andprevents collisions from happening.

④Compares
the speedwith the signal③Creates ATC signals (train speed comparing patterns) frompositional information for the train ahead and one’s own train⑤When the train’s speed exceeds
the signal the brakes are applied②Own train positional information

Ground facilities(for positional adjustments)

Speed of own train

Preceding train

Receive the ①Preceding train positional information (rail)
information

Shinkansen General Control Center / Operational control systems

Anemometer

Measures against landslides
For Conventional Line routes where there is a risk of landslides, we have installed falling rockretaining walls, rock cover works, and avalanche retaining walls as protective equipment. In
addition, if a rock fall or an avalanche is detected by a detector, the train is stopped to prevent
accidents.
Falling rock retaining walls and alarm devices

Snow protection
When snow falls or accumulates, Tokaido Shinkansen trains may operate at a lower speed to preventthe equipment below train floors from being damaged, hit by stones of ballast being lifted up when a massof snow, formed under the train floor by drifts caused by the train’s movement, drops onto the tracks. Asa countermeasure, we use rotary brush vehicles to remove snow before the first trains. In the particularly
snowy Sekigahara section, we have installed sprinklers to moisten snow to prevent drifts from being
lifted up. For N700S, measures on the train side to prevent snow from sticking to train bodies have beenenhanced, such as changing the shape of the bogie cover. Furthermore, we use ground-installed cameras
to monitor the situation of snow sticking to train bogies and ensure trains operate at an appropriate speed.
We have also installed a high-pressure washing machine to quickly remove snow stuck to trains at stations.

Measures against
rockslides and avalanches

Oct. 2019 Typhoon 19 (Hagibis) (Burst of banks of the Chikuma River)2000 ‒ Protection of the slopes of embankments with concreteWind protection

Flooding countermeasures

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

2009 ‒ Implementation of derailment and deviation countermeasures
Mar. 2011 Great East Japan Earthquake

For the Tokaido Shinkansen, we are working to relocate or elevate signal equipment rooms andpower equipment, which are important facilities, install anti-flooding doors, etc., and take measures
to maintain the necessary vehicle inspection functions to ensure the stable operation of trains
against flooding anticipated for railway facilities. In addition, we have plans to evacuate trains in
train-parking areas exposed to the risk of being flooded, and regularly conduct train evacuation
drills to be able to evacuate trains according to such plans if the risk of damage arises.

39

Oct. 2004 Mid Niigata Prefecture Earthquake

The safe and reliable transportation of the Shinkansen is supported by
the Shinkansen General Control Center in Tokyo, where directors workin close collaboration using various systems, such as Computer Aided
Traffic Control (COMTRAC*), to accurately grasp a significant amount of
information, including the operational status of trains and the utilization
status of facilities, control overall transportation services, and manage theirsafety.
Moreover, the Shinkansen Second General Control Center has been
established in Osaka jointly with JR West, and is equipped with thesame functions as the Shinkansen General Control Center in Tokyo sothat it can serve as an alternative control center should Tokyo’s General
Control Center become non-operational due to a disaster. Thus, we havestrengthened our crisis management in preparation for emergencies.
*COMTRAC (COMputer-aided TRAffic Control): A system that controls train routes,
manages train operations, and operates and manages the allocation of staff (drivers
and conductors) and rolling stock. Based on input data prescribing the operational
conditions for each train (such as station departure and arrival times, platforms, andorder of movement) in the computer, the system can monitor the status of all trains inoperation at all times.

The Shinkansen Multiple Inspection Train (Dr. Yellow)
We have also introduced the“Shinkansen Multiple Inspection Train(Dr. Yellow)”to test electrical facilities such as overhead wires andground facilities such as tracks. This rolling stock, which is based on
the Series 700, aids safe and reliable transportation by efficiently
conducting high precision inspections at speeds of 270 km/h.
Dr. Yellow

Preventing snow drifts with sprinklers

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

40

Highlight

Business Strategy

Generating "Economic Value"

Corporate Data

Creating "Social Value"
SocialBuilding Safe and Resilient Infrastructure

Conventional Lines
ATS-PT (Automatic Train Stop)
ATS-PT continuously checks the speed on conventional lines according
to the distance between the train and the signal, the curve, and the points.
It ensures safety by automatically applying emergency brakes when there
is a risk that the train will exceed the safe speed. We have completed theintroduction of ATS-PT on all of our conventional lines.

ATS-PT function
Speed
Brake patterns

Safety-Related Data
Travel curve of train

ATS-PT overview

Consecutively comparing ・A brake pattern is generated in the train
speeds. The emergency
based on the distance to the signal
brakes are applied when derived from information from the ground.
excessive speed is detected,
・The emergency brakes are automaticallyregardless of the speed.
SignalGround unit (pattern occurrence)

applied to stop trains running at speedsin excess of this pattern by the time theyreach the signal.

・Continuous control is performed using
brake patterns.

Status of railway operation accidents※1,2(Number)60

Number of railway operation
accidents attributable to JR
Central in FY2022:

40

equipment, etc. in order to efficiently manage train operations, but also has thefunction of conducting real-time monitoring of the operational status of trains.

00Number of incident※3
occurrences in FY2022:

5

2

7

13

10

6

8

13

FY2011FY2012FY2013

FY2014FY201510*CTC: The CTC system not only remotely and integrally controls station signaling

Railroad property damage accident

1

20

operational status of trains and the utilization status of facilities, control
overall transportation services, and manage their safety to support safeand reliable transportation on conventional lines.

Train accident involving personal injury

50

Tokai General Control Center (Nagoya) / Shizuoka General Control Center / Operation management systems
The operation of our conventional lines is managed by the Tokai
General Control Center (in Nagoya) and the Shizuoka General Control
Center. In these Control Centers, directors work in close collaboration
using various systems, such as CTC (Centralized Traffic Control*), toaccurately grasp a significant amount of information, including theRailway crossing accident

2

50

30

Train accident

0
FY1987*1 Railway operation
accidents

Train accidents: Train collision, derailment, and fire accidents
Railway accident involving personal injury: An accident in which a person was killed or
injured by the operation of a train or vehicle

3

8
1

10

FY2017FY2018

1
3
5

6

6
8

9

FY2016

7

7

17

17

8

8
8
1

11

FY2019FY20201
FY2021

FY2022

Railway crossing accident: A collision between a train or a vehicle and a pedestrian or a motor vehicle, etc. at a railway crossing
Railway property damage accident: An accident in which the operation of a train or vehicle causes damage
to property of 5 million yen or more

*2: Nearly all of the railway operation accidents were not attributable to JR Central.
*3: Incident: Situation in which there is the risk that a railway operation accident may occur

Multiple Inspection Train and Track Inspection Train (Dr. Tokai)
Status of transport disruptions

We efficiently and thoroughly manage and maintain railway
tracks and electrical facilities on conventional lines using the“Multiple Inspection Train (Dr. Tokai).”(Number)
450

Railway staﬀ

7
43

400
350

12

12

46

50

6
42

300

Vehicle/equipment

218

100
50

4
57
24
55

9
38

169

12

40

174
18

3
38

45

35

172

186

220

15

15

30

258

25

218
20

14

15

13
11

10

157

128

166

80

126

109

86

115

107

138

130

FY2011FY2012FY2013

FY2014FY2015FY2016FY2017FY2018FY2019FY2020

FY2021

FY2022

5
0

FY1987*Transport disruption refers to cases that are not railway operation accidents, but involved suspended operation of a train or where a passenger train was delayed for 30 minutes or more (one hour or more for non-passenger trains).

Status of industrial accidents (JR Central and its affiliated companies)
Accident resulting in leave from work or more (JR Central employees)(Number)
16

Fatal accident involving an employee

17

Number of industrial
accidents resulting in deathin FY2022:

14
12
10

Accident resulting in employee’s leave from work or more

15

0

10
8

8

7

7

Shinkansen Second General Control Center

7

6

6

6

5

5

5
4

2
0
FY1987CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

12

50

0

Initiatives for Ensuring the Safety of Employees

41

142

（%）
45

153

4

Ensuring the safety of employees is also an important issue. We
have established internal regulations based on the Industrial Safety
and Health Act and put in place a safety and health management
system. At our business organizations, etc., safety management
officers and health management officers are appointed, systems arein place to ensure safety at work and to manage workplace hygiene,
and careful safety and health examinations are conducted as partof our active efforts to prevent industrial accidents and improve thework environment.
We are also promoting safety and health education throughout theCompany. In addition to conducting the induction course on safety
and health for all new employees at the General Education Center,
we also provide classroom education on laws and regulations at theGeneral Education Center and at each site in accordance with thenature, role and level of work, as well as safety and health education
through necessary practical training, including the use of equipment
and tools and simulations of industrial accidents.
Regarding people, structure, and equipment, the three pillars that
support safety, we have been promoting various activities, such as
the“Improve Safety!”campaign to make our work safer by identifying

192

9

44

17

16

14

14

9
34

12
10

53
221

Percentage of factors behind transport disruptions attributable to JR Central

8

200
150

Cyber security measures
In terms of systems, we are also working to build a safe and resilient
infrastructure. We are taking necessary measures, including achieving theredundancy of facilities and securing backups, to ensure that the provisionof services to customers and the execution of internal operations will not
be disrupted due to earthquakes and other natural disasters and system
failures. For example, the Shinkansen Operation Management System
has an alternative center in Osaka in case the system center in Tokyo
is damaged, and the Express Reservation System comprises multiple
computers to ensure sufficient processing capacity even if one computer
fails. In addition, we regularly conduct drills to prepare for natural disasters
and system failures.
Furthermore, we have taken all possible measures to ensure systemsecurity against cyber attacks, which have been increasing in recent years.
For example, for systems that require absolute safety, such as thoserelated to train operation, we have established an independent system
structure that eliminates any contact with the outside world, thereby
avoiding external attacks.

137

Natural disaster

9
34

250

Dr. Tokai

Non-railway

existing weaknesses and risks and making improvements to them,and initiatives to raise employees’awareness for the prevention oftrain accidents and industrial accidents through soliciting illustrations,photographs, and slogans related to accident prevention.

FY2011FY2012FY2013

FY2014FY2015FY2016FY2017FY2018FY2019FY2020

FY2021

FY2022* Excludes heatstroke

Accident resulting in leave from work or more (affiliated company)
Fatal accident involving an employee of aﬃliated company

Accident resulting in aﬃliated company employee’s leave from work or more

(Number)
40

41
35

35
30

25

25
20

25

21

20

21

18

25

27

26

21

20

15
10
5

4
0
FY1987FY2011

1

1

FY2012FY2013

2
FY2014

1
FY2015FY2016FY2017FY2018FY20191
FY2020

FY2021

FY2022* Excludes heatstroke. * Industrial accidents that occurred in construction work or operations related to railway transportation are recorded.

Posters promoting the prevention of train accidents and industrial accidents
CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

42

SocialHighlight

Business Strategy

Generating "Economic Value"

Corporate Data

Creating "Social Value"
SocialCreating“Social Value” －Social－

The Chuo Shinkansen Project Using the Superconducting
Maglev System ～Drastic enhancement of main transportation artery～
The Chuo Shinkansen Project using the Superconducting Maglev System is a
project to duplicate our artery transportation system linking Tokyo, Nagoya andOperating
speed
km/h
Osaka, which is the lifeline of our business, and drastically prepare for risks, suchas aging in the future of and large-scale disasters affecting the Tokaido Shinkansen.
This project will allow us to further reduce management risk and thus stabilize our
Travel time (maximum)
management base and to continue to carry out our founding mission of undertaking
Tokyo (Shinagawa) - Nagoya Tokyo (Shinagawa) - Osaka
high-speed, large-capacity passenger transport between Tokyo, Nagoya and Osaka.
This project will also dramatically improve convenience by greatly reducing travel
time due to its high-speed operations, bring significant benefits to and potential
for development of the Japanese economy and society, and ensure the long-term
minutesminutes
interests of shareholders and all other stakeholders over a long period of time.

Flow of work based on the Nationwide Shinkansen Railway Development Act

Article 4

Basic Plan

Article 5 Research and Reports

500

40 67

Content of Development Plan

[Entities involved] ●：JR Central ▲：Minister of Land, Infrastructure, Transport and Tourism■：Transport Policy Council ◆：Japan Railway Construction, Transport and Technology Agency

Article 14-2 The Transport Policy Council

Decided in November 1973 ▲Tokyo - Osaka City
Superconducting magnetic levitation technology

Topological and geological surveys Ordered in February 1990▲→Reported in October 2008●◆
Research on the 4 residual items *Ordered in December 2008▲→Reported in December 2009●◆
Consulted on February 24, 2010 ▲→Replied on May 12, 2011■

Maximum design speed

505 km/h

Approximate amountnecessary for the construction(including rolling stock costs)

9,030 billion yen

Consented on May 18, 2011●

Other necessary items

Main areas
passed throughArticle 7 Development Plan

Consented on May 23, 2011●→Decided on May 26, 2011 ▲Article 8 Instruction to Construct

Instructed on May 27, 2011 ▲Outline of the Construction Implementation Plan (Part 2) of
the Chuo Shinkansen section between Shinagawa and Nagoya

Construction Implementation Plan (Part 1):Submission on August 26, 2014●

Section

Article 9 Construction Implementation Plan →Approved on October 17, 2014 ▲Construction Implementation Plan (Part 2):Submission on September 25, 2017●→Approved on March 2, 2018 ▲Start of Construction

Shinagawa Station, Kanagawa Prefecture Station(tentative name), Yamanashi Prefecture Station (tentativename), Nagano Prefecture Station (tentative name), Gifu
Prefecture Station (tentative name), Nagoya Station

Line extension

285.6km

Expected completion year

Distribution map of the estimated greatest seismic intensity of a Nankai Trough Large Earthquake
Chuo Shinkansen

Shinagawa

Between Shinagawa and Nagoya

Station Location

Construction costs

Outline and Significance of the Chuo Shinkansen
possible, under the assumption that we bear the cost of its
construction, utilizing the Superconducting Maglev Systemthat we have developed. The Chuo Shinkansen will turnJapan’
s main transportation artery into a dual system, andJR Central will operate it in an integrated manner alongwith the Tokaido Shinkansen.

Kofu City area, south-central Akaishi Mountains(Southern Alps), Nagoya City area, Nara City area

* The approximate amount necessary for the construction does not include interest.

* Research on the 4 residual items
・Items related to transportation capacity in response to transportation demand
・Items related to the development of facility and rolling stock technologies
・Items related to construction costs

We are promoting the Chuo Shinkansen Project using theSuperconducting Maglev System based on the Nationwide
Shinkansen Railway Development Act (hereinafter, “theAct”) to continually carry out our mission of operating ahigh-speed railway linking the Tokyo Metropolitan area
and the Chuo and Kansai regions (from Tokyo through
Nagoya to Osaka), which is the lifeline of our business, andto ensure the future foundation of the Company.
The Tokaido Shinkansen has been in operation for morethan half a century, and while we have been carrying out
large-scale renovation, there is the risk of suspension ofservices due to major facility replacement caused by futureaging. Furthermore, Japan is prone to earthquakes, andalthough we have taken earthquake resistance measures
for the Tokaido Shinkansen, there is the risk of potential
major disasters, including the undeniable possibility oflong-term disruption to Japan’s main transportation arterydue to a possible major earthquake. Therefore, as a drastic
measure to prepare for these future management risks, we
decided to complete the Chuo Shinkansen as quickly as

Chuo Shinkansen

SectionTechnology used for running

Article 6 Designation of Operator and Constructor →Designated on May 20, 2011 ▲Environmental
Impact Assessment

Construction line

4,853.6 billion yen[Total construction costs of 5,523.5 billion yen*
(Includes rolling stock costs. Excludes the construction
costs for the existing Yamanashi Maglev Line.)]2027* In the“Notice Concerning Total Construction Costs for the Chuo Shinkansen Section between
Shinagawa and Nagoya”(April 2021), we announced that the total construction costs are
expected to increase to 7.04 trillion yen.

New Value Provided by the Chuo Shinkansen
The realization of the Chuo Shinkansen using the Superconducting Maglev System will contribute to thevitalization of Japan’s economic and social activities, turning Japan’s main transportation artery between Tokyo,
Nagoya and Osaka into a dual system and merging the three major metropolitan areas into a“Super Mega Region.”
Mega-metropolitan area 66.16 million people GDP: 331 trillion yen※1

NagoyaShin-Osaka

Tokaido Shinkansen

Seismic intensity
class
7Upper 6Lower 6Upper 5Lower 5
4

Kansai Region

Centr al Reg ion

Tokyo Metropolitan Area

(Osaka, Kyoto, Nara, Hyogo)(Aichi, Gifu, Mie)

(Tokyo, Kanagawa, Chiba, Saitama)

18.14 million people GDP: 78 trillion yen

11.28 million people GDP: 57 trillion yen

36.74 million people GDP: 196 trillion yen

ShinagawaTravel Time Reduction

Tokyo (Shinagawa) - Nagoya (min):86 minutes →40 minutes
Tokyo (Shinagawa) - Osaka (min):134 minutes→ 67 minutes

NagoyaSource: Prepared by JR Central based on“Countermeasure against a Nankai TroughLarge Earthquake (Final Report)”(May 2013)

Gifu
Nagano※2※2Prefecture
Prefecture
Chuo Shinkansen

Yamanashi
Kanagawa※2※2Prefecture
Prefecture
Yamanashi Maglev Line
(42.8 km)(Operating speed: 500 km/h)

Tokaido Shinkansen(Operating speed: 285 km/h)

Chuo Shinkansen Project as a national projectTokyo(Trillion yen) Comparison of GDP between the three major

600
400

Shin-Osaka

metropolitan areas and major countries

331 Trillion
yen

200

The Chuo Shinkansen is being constructed in accordancewith the Act, which is a legal system for developing
infrastructure essential to the nation in order to contribute to
the development of the national economy, the expansion of
the area of Japanese people’s lives, and the development oflocal communities. Based on the Act, we received designation
as the operator and an order for construction from the Ministerof Land, Infrastructure, Transport and Tourism in May 2011,
and then the construction implementation plan was approvedby the Minister of Land, Infrastructure, Transport and Tourism
in October 2014. In the meantime, we have conductedenvironmental assessment procedures and published the final
environmental impact assessment report between Tokyo andNagoya, which is promoted as the first stage.
On the other hand, in order to confirm that the principles ofa privately owned company, such as freedom of management
43

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

and autonomy of capital investment, would not be hinderedby application of the Act, we referred fundamental clauses
regarding application of the Act to the Ministry of Land,
Infrastructure, Transport and Tourism (hereinafter,“MLIT”)
and received a reply in January 2008 indicating that thoseprinciples would not be hindered.
In order to take steady steps towards the successful
completion of this project, we will maintain soundmanagement and stable dividends, sufficiently examine
costs and demonstrate our flexibility, and make necessary
investments to ensure safe and reliable transportation and toenhance the competitiveness of the Tokaido Shinkansen andconventional lines. We will first realize the project between
Tokyo and Nagoya, where we have received approval for theconstruction plan, and strive to further extend the project toOsaka.

0285.6km ※3438km ※4

Japan Three major
FranceUK
metropolitan areas
Source: United Nations database, Cabinet Oﬃce
"Annual Report on Prefectural Accounts" (FY2019)* Calculated using the exchange rate of USD1 = 109.05 yen* Three major metropolitan areas are calculated taking thefollowing prefectures into account:Tokyo, Kanagawa, Chiba,
Saitama, Aichi, Gifu, Mie, Osaka, Kyoto, Nara, Hyogo* 1 Population: Ministry of Internal Affairs and Communications“Population, Demographics and Number of Households Derived from Basic Resident Registration”(January 1, 2023) GDP: Cabinet
Office“Annual Report on Prefectural Accounts”(FY2019)* 2 Intermediate station names are tentative.* 3 The Construction Implementation Plan (Part 2) of the Chuo Shinkansen section between
Shinagawa and Nagoya (March 2018)* 4 The Survey Report of the Chuo Shinkansen section between Tokyo and Osaka (December 2009)

We will continue to fulfill our mission into the future
by reducing management risks and stabilizing ourmanagement base by completing the Chuo Shinkansen
Project. Furthermore, by adopting the Superconducting
Maglev System for the Chuo Shinkansen, we can expect
a drastic reduction in travel time between cities, andthe three major metropolitan areas will be transformed
into one mega-metropolitan area, the so-called “Super
Mega Region,” where the interaction of people will behighly activated and economic and social activities will
be energized, which is expected to have a significant
positive effect on our business.

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

44

Business Strategy

Highlight

Generating "Economic Value"

Corporate Data

Creating "Social Value"
SocialThe Chuo Shinkansen Project Using the Superconducting Maglev System ～Drastic enhancement of main transportation artery～❶ Creation of new demand
In the competition between the Shinkansen and air
travel, the shorter the travel time of the Shinkansen, thegreater its share. Demand is therefore expected to shift
from air travel to the Chuo Shinkansen due to the time
reduction effect of the Superconducting Maglev System. In
addition, the dramatic time reduction will greatly stimulate
the flow between metropolitan areas, which is highly
expected to generate new demand.
Furthermore, in addition to the anticipated new use ofintermediate stations in Kanagawa, Yamanashi, Nagano
and Gifu Prefectures, the opening of the Chuo Shinkansen
will shift some of the current“Nozomi”passengers on
the Tokaido Shinkansen to the Chuo Shinkansen, creating
room for additional“Hikari”and“Kodama”services when
there is more room in the Tokaido Shinkansen schedule.
This may improve travel times and frequencies between
cities along the Tokaido Shinkansen line and each of thethree major cities, thereby increasing the flow of people.

World’
s fastest speed brings each area along the line closer.
Min 40 minutes

About 60 minutes

About 45 minutes

Gifu
Prefecture(tentative name)

NagoyaAbout 25 minutes

NaganoPrefecture(tentative name)

About 15 minutes

Yamanashi
Prefecture(tentative name)

About 25 minutes

About 45 minutes

About 10 minutes
Kanagawa
Prefecture(tentative name)

About 60 minutes

Tokyo

Shinagawa

ShinYokohama

OdawaraAtami

MishimaShin-Fuji

Shizuoka

Kakegawa

Hamamatsu

Toyohashi

MikawaAnjo
Nagoya

GifuHashima

MaibaraKyoto

Shin-Osaka

Stations where Hikari and Kodama stop

※2

Oi River Water Resources”compiled by the“Linear Chuo Shinkansen Shizuoka
Construction Area Council of Experts”of MLIT, we strive to provide easy-tounderstand explanations to the local community, to implement specific risk
responses and monitoring, and to implement measures to send water back to
the Oi River in the amount equivalent to water that leaks inside the tunnels andexceptionally flows outside the prefecture for a specified period. Since June,
we have discussed with the power generation company on how to reducewater withdrawal for power generation and return it to the Oi River. And
discussions have been underway at the expert council on ways to conserve
the environment of the Southern Alps, including ecosystems. Furthermore,a meeting was held in September to exchange opinions with the leaders of
the cities and towns in the Oi River basin. We will remain committed to takemeasures in a sincere manner to win understanding and cooperation of local
communities while placing importance on two-way communication.
Total amount of capital investment

Approx.

Historical total capital investment※170

Shinagawa(Billion yen)%

400
FY2014-2022Total amount of capital investment:
1,526.8 billion yen※3Land acquisition rate ＝ number of landowners from whom land is acquired / total number of landowners
Min 40 minutes

Shifting of some“Nozomi”passengers to
the Chuo Shinkansen will create room forincreased“Hikari”and“Kodama”service.

Stations where Kodama stops❷ Broad ripple effects on the economy and society
Due to the overwhelming time reduction effect of
the Superconducting Maglev System, Tokyo - Nagoya- Osaka will be connected in about one hour, and thethree major metropolitan areas will become a“Super
Mega Region”with a total population of about 66
million, or over half of Japan’s total population.
This“Super Mega Region”is expected to become thecore driving new growth for Japan, which is experiencing
a declining population, by broadening the scope of

We are steadily carrying out the planned construction work in areas
along the Shinagawa-Nagoya section for which we obtained approval of
the Construction Implementation Plan, placing priority on safety at work,
environmental conservation, and cooperation with local communities
and examining costs sufficiently. Capital investments have totaled 1,526.8
billion yen in the period from FY2014, when we obtained approval of theConstruction Implementation Plan, to FY2022. The total length of construction
areas that have already been contracted out reached about 90% of the
Shinagawa-Nagoya section, including the Yamanashi Maglev Line, totaling
about 286 km, at the end of September 2023.
In the Southern Alps Tunnel Shizuoka construction area, we have yet toconvince Shizuoka Prefecture and other parties, due to which we have notbeen able to begin tunnel drilling work. In such circumstances, with regard to
impacts on water resources of the Oi River, based on the“Interim Report on
Progress of effort to acquire land
(at end of September 2023)

The possibility of using the Tokaido Shinkansen will increase.

Stations where Nozomi, Hikari, and Kodama stop

Promotion of Construction

activities and thereby significantly changing lifestyles,
such as the way people do business and spend theirleisure time, as well as expanding various possibilities.
The final report of the“Super Mega Region Concept
Study Group”established by MLIT titled“Creating a
Super Mega Region to Overcome a Declining Population:
Creating New Value through Liberation from Time andPlace”(May 2019) presents the following as“impacts of
the Linear Chuo Shinkansen.”* 1 The percentage figure is rounded down to be shown in increments of 5 percentage points.
* 2 The figure may decrease due to a change in the number of landowners as a result of changes in the scope of land being acquired, inheritance, etc.
* 3 The number of landowners from whom land is acquired represents the number of landowners with whom a contract has been signed.

Progress of finding entities that use excavated soil
(at end of September 2023)

300
255.2

Approx.

228.2

340.0

270.1 268.8
229.8

※4

80

%

200
134.2

Progress of finding entities that use excavated soil※5：approx. 80% of the amount of excavated soil※6
In addition to the entities already enlisted to use about 80% of excavated soil, we are in
negotiations with multiple candidates regarding acceptance of excavated soil.
* 4 The percentage figure is rounded down to be shown in increments of 5 percentage points.
* 5 The entities already enlisted to use excavated soil are entities, etc. with whom we have signed agreements, etc.
on the acceptance of excavated soil.
* 6 The amount of excavated soil is the target figure as of August 2014, the month in which we published acorrected environmental impact assessment report.

102.9
100
32.1
5.0
0

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 (FY)targetLocations of construction work (at end of September 2023)
Gifu Prefecture(tentative name)Southern Alps Tunnel(Nagano construction area)

Elevated bridge in Usuiawara(tentative name)Shinagawa

Nagoya (Westconstruction area)

Minami-koma
Tunnel No. 1

Kanagawa Prefecture (tentative name)Tokyo Metropolitan Area Tunnel No. 1(Higashi-yurigaoka construction area)

From the Final Report of the“Super Mega Region Concept Study Group”(May 2019)● Opportunities for face-to-face interaction between people will increase, and the time for interaction will expand, which will lead to opportunities

to create new innovation.
● It is expected to bring about changes in business styles and lifestyles by liberating people from“time”and“place,”which have been factors that

restrict working and living styles, and providing a variety of options.
● Due to the integration of the three major metropolitan areas, the entire Super Mega Region will create new value and growth industries, which

will increase the attractiveness of the region in inviting people and investment from overseas.
● By organically connecting the Linear Chuo Shinkansen, Shinkansen and expressway networks, it is expected that the multiplicity and substitutabilityof the high-speed transportation network, which forms the framework of the national land policy, will be enhanced, and a sustainable flow ofpeople and goods will be secured.
● It is expected that new regional revitalization will begin in the areas around the intermediate stations located between the three major

metropolitan areas and that the effects of the Super Mega Region will spread widely beyond the areas along the Linear Chuo Shinkansen.
* Extract and summary by JR Central of the final report of the“Super Mega Region Concept Study Group”established by MLIT (May 2019)

Furthermore, according to the “National Land Policy
Simulation Model” compiled by MLIT, the productivity
improvement effects of the formation of the Super Mega
Region as a result of the opening of the Chuo Shinkansen are
estimated※ to be 3.5 trillion yen per year for the opening of
the line up to Nagoya and 6.5 trillion yen per year for the45

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

opening of the line up to Osaka.”
In this way, the dramatic reduction in travel time brought
about by the opening of the Chuo Shinkansen will have a major
impact on the entire country and will lead to the creation of
new value and the sustainable growth of Japan as a whole.
* National Spatial Planning and Regional Policy Bureau of MLIT“FY2017 Survey Reporton the Development of National Land Policy Simulation Model”(July 2018)* This map is copied from a Japanese map (with a scale of 1 to 1,000,000) published by the Geographical Survey Institute with their authorization. (Authorization number: H25 Jo Fuku, 310)
* See our website for the latest information on the progress of the construction work.
▶ Publicly released materials regarding the Chuo Shinkansen Project (The progress of construction work in each prefecture can be viewed in“Construction safety, environmental preservation, and cooperation with local communities.”) https://company.jr-central.co.jp/chuoshinkansen/▶ Summary of Consolidated Financial Report https://company.jr-central.co.jp/ir/brief-announcement/ ▶ Investor Meeting Presentation Handout https://company.jr-central.co.jp/ir/investor-meeting/

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

46

Highlight

Business Strategy

Generating "Economic Value"

Corporate Data

Creating "Social Value"
SocialThe Chuo Shinkansen Project Using the Superconducting Maglev System ～Drastic enhancement of main transportation artery～

Implementation of Environmentally Conscious Construction
Construction of the Chuo Shinkansen is proceeding, taking the surrounding environment into consideration.
The main environmental conservation measures being implemented are as follows.
Atmospheric environment

Water environment(air quality, noise and vibration)(water quality, water resources and groundwater)

Animals, plants, andecosystems

Reducing the impact of vehicles used
to transport materials and machinery

The use of low-noise andlow-vibration construction
machinery with low exhaustemissions reduces thegeneration of nitrogendioxide and suspended
particulate matter, as well
as noise and vibration.

Wastewater and turbid water
generated by construction work
are discharged into public waters
after measures are taken, such astreatment and neutralization to
reduce turbidity as necessary, bymeans of turbid water treatment
facilities, in accordance with
wastewater standards, etc., basedon laws and regulations, thereby
reducing the impact on public waters.

In the detailed planning of
construction, we avoid places
where important plant species
grow as far as possible, and if
Construction in such places isunavoidable, we compensate
for the influence on the growing
environment of important
species by transplanting andseeding in places with similar
environments.

We reduce the generation ofdust by cleaning and watering theentrances, exits and surrounding
roads for vehicles used totransport materials and machineryand by cleaning their tires. In
addition, there is a construction
area where we reduce thenumber of vehicles used inconstruction work by using freighttrains to transport excavated soil.

Overview and Development History of Superconducting Maglev System Technology
The Superconducting Maglev System is an advanced
technology unique to Japan. Instead of using the friction
between wheels and rails like conventional railways, it runs
in a non-contact manner due to the magnetic force between
the Superconducting Magnet mounted on the vehicle andthe coils mounted on the ground. In addition, to obtainthe strong power of the magnets, the technology uses a
superconducting magnet utilizing“the‘superconductivity’phenomenon, whereby electrical resistance vanishes when aparticular substance is brought below a certain temperature,”
which enables the vehicle to levitate about 10 cm, making it
possible to operate safely in earthquake-prone Japan. Thesefeatures make it possible to travel at an ultra high speed of
500 km/h in a stable manner, unlike conventional railways.
The level of the Superconducting Maglev System
Technology has been evaluated in multiple stages sincerunning tests began on the Yamanashi Maglev Line in April
1997. In July 2009, the Superconducting Magnetic Levitation
Technological Practicality Evaluation Committee of MLIT
(hereinafter,“Evaluation Committee”) confirmed that theSuperconducting Maglev System Technology had alreadyachieved levels sufficient for commercial operation, andthe Minister of Land, Infrastructure, Transport and Tourism
established technological standards for the Superconducting
Maglev in December 2011. Subsequently, in February 2017,
the Evaluation Committee confirmed its evaluation that thetechnology development required for commercial lines wascompleted, and in March 2023, the Evaluation Committee
assessed that steady progress has been made in brushing up

the technology.
We will continue to make efforts to reduce the cost of
construction, operation, and maintenance of the commerciallines and further brush up Superconducting Maglev System
Technology while conducting running tests using the Series
L0 improved version and developing commercial vehicle
specifications.
Progress on the Superconducting Maglev System Technology
Jun-90

JR Central applies to the Minister of Transport for approval of theconstruction plan of the Yamanashi Maglev Line and gains approval.

Apr-97

Running tests start on the Yamanashi Maglev Line.

Mar-00The Superconducting Magnetic Levitation Technological Practicality
Evaluation Committee of the Ministry of Transport (hereafter, the“Evaluation
Committee”) acknowledges that“there is potential from a technologicalstandpoint that the technology could have practical applications.”

Nov-04

JR Central performs exercises of trains passing each otherat 1,026 km/h relative to one another.

Mar-05The Evaluation Committee of MLIT acknowledges that“the coretechnologies for practical application have been established.”

Jul-09The Evaluation Committee of MLIT acknowledges that “thetechnologies required for commercial lines have been established froma comprehensive and systematic standpoint and it is possible to move
forward with detailing the specifications for commercial lines and thetechnical standards.”

Dec-11The Minister establishes technical standards for Superconducting Maglev.

Aug-13Work to extend the Yamanashi Maglev Line to 42.8 km and update
facilities are completed.

Apr-15

Principles of the Superconducting Maglev System
Propulsion System

Levitation System

Guidance System

By passing current through the Propulsion Coilson the ground, a magnetic field (north andsouth poles) is produced, and thus the vehicle
is propelled forward by the attractive force andrepulsive force of the opposite poles acting
between the ground coils and the Superconducting
Magnets built into the vehicles.

The Levitation and Guidance Coils are installed on
both sides of the guideway (track). When the onboard Superconducting Magnets pass through at
high speed, an electric current is induced in theLevitation and Guidance Coils, causing them tobecome electromagnets. This generates a force
that both pushes and pulls up the vehicle.

The Levitation and Guidance Coils on both sidesof the guideway keep the vehicle in the center ofthe guideway at all times by exerting an attractive
force on the far side of the vehicle and a repulsive
force on the near side when the vehicle moves off
center to either side.

Total Construction Costs for Shinagawa-Nagoya Section
In the“Notice Concerning Total Construction Costs for the
Chuo Shinkansen Section between Shinagawa and Nagoya”(April 2021), we announced that the total construction
costs for the Shinagawa-Nagoya section are expected toincrease from 5.52 trillion yen estimated at the time of the“Construction Implementation Plan (Part2) of the Chuo
Shinkansen Section between Shinagawa and Nagoya”(March2018) to 7.04 trillion yen. The reasons for the increasein construction costs include responding to challenging
construction work, enhancing earthquake countermeasures,and securing utilization sites of excavated soil.
We will prioritize sound management and stable dividends
with regard to future management just as always andwill fund the construction costs mainly through operating
cash flows and the remaining amount through repayableborrowings. If we anticipate that it can no longer ensure
sound management and stable dividends, we will aim
to complete the construction by adjusting the pace ofconstruction and fully restoring its management strength.
As a reference, in order to confirm that the funds necessary

for completion of the construction are secured, we calculated
the operating cash flows based on certain reasonableassumptions in the event that the revenue recovers at
a realistically expectable pace from the impact of the
COVID-19 pandemic, and it confirmed that, if approximately
1 trillion yen of new financing is added to such operating
cash flows, the cumulative amount of the funds available forconstruction of the section between Shinagawa and Nagoya
would exceed the total construction costs of 7.04 trillion yen
in FY2028. It should be noted that this does not mean that a
new target time for opening is set; however, a trial calculationof the status of securing funds under certain assumptions wasmade for reference purposes only.
Thus, we have confirmed that we will be able to secure
the level of funds necessary to complete the construction
even after incorporating the increase in construction costs.
We will continue to proceed with the Chuo Shinkansen
Project with the aim of early realization of the Chuo
Shinkansen while ensuring sound management and stabledividends.

Estimates to confirm construction costs are secured (as of April 2021).(For confirmation, etc.)
Transportation revenues will recover gradually to 66% in
FY2021, 80% in FY2022, and 90% in FY2023, and after FY2024
to 100% by FY2028.

Period in which the cumulative amount of thefunds available for construction of the Chuo
Shinkansen exceeds the total construction cost*※

Expenses

Essentially, personnel expenses will be maintained at the current scale of personnel
required for railways, and non-personnel expenses will be recorded at the five-year
average of the results from FY2015 to FY2019. In addition, cost reductions pursued
through“reform of business operations”are considered to a certain extent.

Operating revenues for the fiscal year
following the above period

1,530 billion yen

Ordinary income for the fiscal year
following the above period

240 billion yen

Long-term debt outstanding for the fiscal
year following the above period

6.0 trillion yen

JR Central records a travel distance of 4,064 km in one day.
JR Central records the world speed record for a manned rail vehicle at 603 km/h.

Capital investments(Chuo Shinkansen)

7.04 trillion yen

Capital investments(Shinkansen andconventional lines)

Essentially, necessary capital investments will be accumulated, considering the cost
reductions through“reform of business operations,”and capital investments willremain unchanged at approximately 220 billion yen per year in and after FY2028.

Feb-17The Evaluation Committee of MLIT acknowledges that“the technology
development required for commercial lines has been completed.”Aug-20Running tests start using the Series L0 improved version.

Mar-23The Evaluation Committee of MLIT acknowledges that“steady progresshas been made in brushing up the technology.”(For reference: Results of confirmation)

Transportation
revenues (Shinkansen
and conventional lines)

Other

Interest rate on financing: 3%

Note: The recovery in transportation revenues from the Shinkansen and conventional lines is compared to FY2018.

FY2028

Note: In and after the period marked with an asterisk (*) above, in calculating theoperating revenues and ordinary income, it is assumed that transportation revenues
will increase by around 5% compared to previous periods and that depreciation
expenses and maintenance and operation costs will be recorded for assets related
to the Chuo Shinkansen. This does not mean that a new target time for opening isset; however, a trial calculation was made for reference purposes only.

(For reference: Changes in ordinary income and long-term debt)

History of Maglev Vehicles

Superconducting Maglev test rides(Billion yen)
600

Ordinary income (left axis)(Trillion yen)
10.0

Long-term debt (right axis)
240

8.0

400
200

6.0
6.0

MLX01-1

MLX01-901

Series L0

In order to establish commercial vehicle specifications, in August 2020
Series L0 improved version
we started running tests using the Series L0 improved version, which further
brushed up the Series L0 based on the results of the running tests so far.

47

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

While steadily conducting running tests, wehave offered Superconducting Maglev test rides
using the Series LO improved version from2022 in order to foster a sense of anticipation
for the opening of the Chuo Shinkansen.

0

4.0

-200

2.0

-400
2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

0.0
2030 (FY)CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

48

SocialHighlight

Business Strategy

Generating "Economic Value"

Corporate Data

Creating "Social Value"
SocialCreating“Social Value” －Social－
Number of services and passenger volume of the Tokaido Shinkansen (per day)

Tokaido Shinkansen: Constant Effort to Enhance Service

Maximum number of the fastest train, "Nozomi," one way per hour1

Nozomi

Tokaido Shinkansen passenger volume (FY1987=100)

Hikari

Kodama(Index)160

Since its establishment, JR Central has constantly refined not only the safeand punctual but also-fast, frequent, high capacity, environmentally feasible,and comfortable characteristics of the Tokaido Shinkansen, which plays the roleof Japan’s main artery transportation, in order to maintain and strengthen its
competitiveness. Specifically, we have constantly worked to enhance services
through the introduction of the“12 Nozomi Timetable,”the launch of new N700S
Shinkansen rolling stock, and the expansion of online reservation and ticketlessboarding services, among others.

480

169
148
143
138

137

140

128

129

126

124

118

120

121

123

127

126

122

120

122

125

123

126

130

111
311 314 319

100

239
80 231

271 276 273 270 271 274 274 271 269 269 271 272 275
252 260

0

5

34

34

35

37

41

45

50

51

61

142

141
130

100

133

152

134

157

159

164
420

126
378
365 368 373
350 358
342 336356
334 341 336 333 336 342

300

187 193 188 185 188

9

10

10

188 207

89

88

87

84

84

82

81

80

1

180

7

40

240

75

194 201 209 217 220 226 230 193

8
143 150 165 176 187 189 158 157 158 158 155 148 139 138 130 122

53

93

65

65

64

64

66

66

66

66

66

65

65

65

65

65

65

65

65

65

65

80

80

80

80

80

81

82

82

82

82

83

83

83

83

83

83

83

83

83

83

03

04

05

06

07

08

09

10

11

12

13

14

15

16

17

18

19

20

21

22

120

3
2
79

78

95

96

60

78

78

80

80

80

79

97

98

99

00

01

02

0
(FY)

0

87

88

89

90

91

92

93

94

"Nozomi" (the Series 300) began commercial operation“Express Reservation”was launchedShin-Osaka Station improvement work completed "Smart EX" was launched

Shinagawa Shinkansen Station opened and all trains at max. 270 km/h

0Punctual

accidents● No accidents resulting in fatalities or injuries of passengers

on board since operations commenced● Improvement of safety awareness and skills through*1 Departures shown include extra trains.
*2 Usage status is shown by means of an index with the sectional transportation volume for FY
1987 as 100.
*3 Station stops - Nozomi: Shinagawa, Shin-Yokohama, Nagoya, and Kyoto /Hikari: Same as“Nozomi,”plus a few additional stations / Kodama: All stations*4 The sum of figures for“Nozomi,”“Hikari”and“Kodama”may not agree with the total due torounding.
*5 Departure figures and usage status figures in FY2020 through FY2022 were lower due to theimpact of the COVID-19 pandemic

1.1

minutes* Results for FY2022 (including delays caused bynatural disasters, etc.)

285

Frequent andHigh Capacity

356 360,000

passengers● Maximum speed: 285 km/h

● Number of train services per day: 356* Results for FY2022 (including extra trains)● Between Tokyo and Shin-Osaka: 2 hours 21 minutes● Number of passengers per day: 360,000 * Results for FY2022*Note: Accurate as of the March 2023 timetable revision (arrival time
based on the fastest trains in service)● Number of seats available: 1,323 * 1,319 seats/train for the N700S type
introduced in April 2021
seats/train* The numbers of train services and passengers per day in FY2022 were reducedby the impact of the COVID-19 pandemic.

Environmentallyfeasible

1/8

Approx.

1/12

Approx.

● The energy consumption amount per seat when traveling between

Tokyo and Osaka is approximately 1/8th that of an aircraft.

12 trains

2 hr 33 to 37 min

7 trains

None

Number of New Trainsets
Fiscal Year

2020

2021

2022

2023 (plan)

2024 (plan)

2025 (plan)

2026 (plan)

Total

Number of Trainsets

12

13

13

4

7

7

3

59

N700S
Main features of the N700S● Wide open,

quiet space

Enhanced safety and stability

Enhanced comfort and convenience● Shorter braking distance in the event● Equipped with a fully active● Reduced power consumption

damping control system● Reduced inspection/repair workof an earthquake

Figure 2● Enhanced status monitoring function“12 Nozomi Timetable”expected to significantly improve our services

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

3 trains

We began in July 2020 to introduce the new N700S Shinkansen roilingstock, replacing the N700A type. The N700S is designed based on the
results of years of technological development and is equipped withfeatures such as enhanced safety and stability, enhanced comfort andconvenience, higher emergency response capability, and a standardized
design that can easily be constituted to any length of trainsets.

● Enhanced snow-resistant features

49

10 Nozomi Timetable (Spring 2019 revision) 12 Nozomi Timetable (since Spring 2020 revision)

Within 2 hr 30 min

Comfortable● The ＣＯ₂ emissions for the same condition are around 1/12th.

When the Company was established in 1987,
we were operating the Tokaido Shinkansen at the
maximum speed of 220 km/h. We put the Series 300“Nozomi”into operation in 1992 with the maximum
speed of 270 km/h, and, in 2003, we opened
Shinagawa Station and raised the maximum speed to
270 km/h for all trains, which allowed us to shift to a
Nozomi-centered timetable.
Then, in 2015, the speed of the Tokaido Shinkansen
was increased for the first time in 23 years, reaching
the maximum speed of 285 km/h.
The Series 700 was retired in the spring of 2020, andwe completed the update to the N700A type* to allow
all trains to run at the maximum speed of 285 km/h.

Travel Time of“Nozomi”between Tokyo and Shin-Osaka and Number of Services per Hour during Pattern Hours

Launch of new N700S Shinkansen rolling stock

trainskm/h

Figure 1● Average delay time: 1.1 minutes/1 train in service

human resources education and training● Ongoing investment for safety-related facilities

Fast

Uniﬁed N700A type rolling stock and all trains at max. 285 km/h

Maximum number of the fastest train, "Nozomi," one way per hour

Characteristics of the Tokaido Shinkansen
Safety360

12 12 12 12290

70 101 145 166 170 175

60

20(Trains/day)161

We also finished improvements to equipment andintroduced the“12 Nozomi Timetable”in March 2020.
The maximum number of“Nozomi services”per hour
increased by two from 10 in either direction, and we
can now operate up to 12“Nozomi”services during
busy hours.
Also, all“Nozomi”services will travel between Tokyoand Shin-Osaka in less than 2 hours and 30 minutes. Figure 1
Passengers can reduce their travel time by reserving
train seats online at their convenience and using thenew, faster“Nozomi.”This has made the Tokaido
Shinkansen even more convenient.
* Generic name of the Series N700 and N700A, and later reflecting the main functions
adopted in the N700A

Figure 2

Series 700

N700A typeFigure 4● Additional security cameras● Toilet functions during power outage

Figure 3

Reduced power consumption

-16%

-5%

N700S

Battery-based self-propelled system● Battery-based self-propelled system● Enhanced intercom functions

devices

-7%

270

285

285

km/h

km/h

km/h

Series 700

N700A type

N700S

Employing the Dual Supreme Wing design, which reduces air resistance,
and a drive system that uses next-generation silicon carbide
semiconductors, the N700S consumes 7% less electricity than the N700A type.

The braking distance during an earthquake is 5% shorter thanthe N700A type thanks to an improved ATC and brake system.
Figure 4

Higher emergency response capability
Figure 3● Additional outlets for mobile

Shorter braking distance in the event of an earthquake (at 285 km/h)-25%

Lower running cost

TunnelThe N700S is the ﬁrst high-speed train equipped with a battery-based self-propelled system. It can travel to a location
where passengers can safely evacuate in the event of a long power outage following a natural disaster, etc.

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

50

Highlight

Business Strategy

Generating "Economic Value"

Corporate Data

Creating "Social Value"
SocialTokaido Shinkansen: Constant Effort to Enhance Service

Stimulating Tourist Demand

Promoting Online Reservation and Ticketless Boarding Services
In an effort to have customers more conveniently use
the Tokaido Shinkansen, JR Central takes the initiative inpromoting greater use of online reservation and ticketlessboarding services via“EX Service”“Express(
Reservation,”“Smart EX,”etc.).
For customers who frequently ride the Shinkansen
for business or other reasons, we provide an“Express
Reservation”service that offers a discounted member pricethroughout the year. Members of the service can smoothly
ride the Shinkansen by simply touching their member
IC card at the automatic ticketing gates after reserving
their preferred seats with a smartphone or other device
beforehand. There is no need to stop at the ticket counterof a station, allowing customers to significantly reduce their
total transit time. In addition, reservations can be changed
as many times as necessary before departure without
any handling fees, allowing customers to use the service
without worry even if there are sudden schedule changes.
We also offer“Smart EX”with no membership fee forcustomers who only occasionally use the Shinkansen,
including people traveling to visit their hometown, tourists,and foreigners visiting Japan, so that they can also use theconvenient online reservation & ticketless boarding service.
This ticketless service enables customers to immediately
use the service by simply registering their credit cardand the nationwide interoperable transportation IC cardfrom their smartphone, etc. As a result, we offer greater
convenience to even more customers.

At the moment, reservations for reserved seats using
these services currently account for nearly half of allreservations.
Numbers of EX Service members and registered persons(10,000 persons)

1,050
1,000
950
900
850
800
750
700
650
600
550
500
450
400
350
300
250
200
150
100
50
0

Nearly 50%

1,046

of reserved seats
are booked online(FY2022).

886
810

764

591

’19.3

’20.3

’21.3

’22.3

’23.3

Illustration of using“Smart EX”
1. Register

2. Book

3. Board
Tap!

Creditcard

Transportation IC card

Further Enhancing Our EX Reservation Service
In March 2021, we launched a ticketless boarding
service for group passengers, a ticketless boarding service
using a QR code for visitors to Japan, and a reserved seatreservation/change service for delayed trains. Thanks tothese services, passengers who board trains in groups
and visitors to Japan who do not have transportation IC
cards are now able to board Shinkansen trains without thebother of obtaining a ticket.
Furthermore, in June 2022, we extended the service
areas of the EX Service to the Kyushu Shinkansen (Hakata- Kagoshima- Chuo section), beginning to offer the service
along all of the Tokaido, Sanyo and Kyushu Shinkansen
lines (Tokyo - Kagoshima-Chuo section).
Since October 2023, we have been operating “EX
Shinkansen Travel Packages,” a travel product that

accommodates changes in train until immediately before
boarding and ticketless Shinkansen travel, and“EX Hotels
and Activities,”a service to allow users to seamlesslybook and pay for any combination of lodging facilities,
sightseeing plans, car rentals, etc., of their choice. In
addition, we have enhanced EX Service to make Tokaido
Shinkansen seats available for reservations up to one
year in advance. We have also disclosed per capita CO2
emissions for each section of the Tokaido, the Sanyo, andthe Kyushu Shinkansen in response to the needs of ourcorporate members.
We aim to enhance our services in terms of bothbusiness and tourism by offering products attractive tocustomers under these structures so that we can increase
future usage and revenues.

We are working to stimulate tourist demand by introducing
various campaigns for each region or target segment throughvarious information media and sales channels. For Kyoto andNara, which are the largest tourist resources in our market
area, we have continuously implemented travel campaigns
in collaboration with local governments and travel agencies,
such as the Kyoto Campaign (launched in 1993), the Nara
Campaign (from 2005 to 2021), and the renewed Nara
Campaign (launched in 2022), and are promoting the use of
the Shinkansen mainly from the Tokyo Metropolitan area tothe Kansai region. In addition, we are working on coming
up with attractive products associated with areas along ourrailway lines.
Since summer 2020, we have been actively implementing
new promotional measures that capture customer trends andneeds, including the following:“zurashi tabi”(shifting travel), a
new way of traveling whereby the times, locations, means oftravel and action at destinations are shifted from the“standard;“Oshi Travel Update,”a campaign in which the content of“Oshi Travel”of going to see one’s own recommendations

is updated and suggested in collaboration with business
operators; and“Chartered Car Package,”a service to allow
customers to charter a whole car of the Tokaido Shinkansen
to, for example, hold an event of their own.
Furthermore, targeting inbound tourists, we are working
in cooperation with municipalities located along our train
lines and other transportation companies to offer sightseeing
value tickets covering destinations that are popular amonginternational tourists, such as“Takayama and Hokuriku.”We also
have travel products to encouragecustomers to travel in areas along
the Tokaido Shinkansen and othertrain lines of our company. We offer
information on the “Central Japan
Shinkansen/Train Portal,”a multi-lingual
website packed with information on
products and tourist destinations in theareas in which we operate.
“Kyoto CP”poster

Improving the Environment to Support New Ways of Working
In response to the spread of a new work style in which
was installed in all N700S trains after being improved forpeople can work anywhere, we have been working tohigher convenience and operated on a regular basis graduallyenhance the business environment in stations and trains tofrom October 1, 2023.“Business Booths”will be a paidenable passengers to spend their travel time in a mannerservice upon the start of its regular operation.
suited to their work style. In order to further enhance the inFurthermore, we have set up semi-private work booths
car environment for businesspeople, we will provide newand poles fitted with power outlets that are available
services going forward.
free-of-charge in some waiting rooms at all Tokaido
More specifically, we will enhance the“S Work Car” Shinkansen stations where Nozomi stops. We also operate
service, which is operated in Car No. 7. of the Nozomi train, “EXPRESSWORK,”a paid work space service. In addition
by installing a partition at some of the B seats in Car No. 7. of
to booth-style space available at all Nozomi stations andthe Nozomi train and starting to offer A and C seats on bothsome Hikari stations, lounge-style space is available at Tokyosides as“S Work P Seats .” We will also operate Car No. 7.
Station.
of the Hikari and the Kodama trains, in addition to Nozomi,
We aim to continue working to enhance our services in
as“S Work Cars,”including during busy and the busiest
a variety of aspects so that businesspeople who use theseasons.
Tokaido Shinkansen can spend their travel time in more
In addition,“Business Booths,”introduced in N700s trains,convenient and comfortable ways.

Departure station

On train

Seamless travel with EX Service

Renovation of station waiting rooms
Free, semi-private, booth-style business corners and poles
ﬁtted with power outlets to be set up●* QR Code is a registered trademark of Denso Wave Incorporated.

Cars for businesspeople●●

Trial operation of "S Work Cars" Launch of "S Wi-Fi for Biz"
Trial operation of "Business Booths"

One-stop, seamless reservation for trips for business or pleasure will become possible.
Booking and payments can be completed within the“EX service”website for accommodation,sightseeing plans, car rentals (excluding some car rentals) , etc., in addition to Shinkansen tickets !

Now

EX Service

Sightseeing plan Car rental

Hotel“EX Hotels and Activities”

Business corner

Tourist taxi
(ride-hailing)

Conventional
Taxi
lines
(ride-hailing)

EX Service
Shinkansen
Shinkansen

Other service enhancements

51

Hotel

Sightseeing plan

Car rental

Tourist taxi

Conventional lines

Separate bookings and payments are required on each website.

“S Work Car”logo“S Wi-Fi for Biz” “Business Booth”
logo「EXPRESS WORK」* Links to an externalsite for bookingsand payments

Booth-style private work spaces to be set up● Lounge-style work spaces incorporating privatebooths and meeting rooms to be set up●“EX Shinkansen Travel Packages”● Launch of the“EX Points”service to grant points according to the use of the Tokaido Shinkansen

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

Pole ﬁtted with power outlets

Improving the Environment to
Support New Ways of Working

Destination station「EXPRESS WORK-Booth」

Seamless travel with EX Service● Tokaido Shinkansen seats have been made available for reservations up to one year in advance

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

52

SocialBusiness Strategy

Highlight

Generating "Economic Value"

Creating "Social Value"

Corporate Data

SocialCreating“Social Value” －Social－

Conventional Lines and Group Businesses:
Maintenance and Development of Social Infrastructure
By continuing to strengthen conventional lines in the Tokai
region that form a network with the Tokaido Shinkansen, as wellas group businesses that are expected to generate synergies
with the railway business, such as the JR Central Towers andthe JR Gate Tower at Nagoya Station, JR Central is working to
expand business revenues and contribute to the maintenanceand development of local social infrastructure.

The JR Central Group undertakes businesses inTransportation, Merchandise and Other, Real Estate, andOther areas. The Transportation segment involves railway
and bus businesses. The Merchandise and Other segment
manages department stores and provides sales services
for goods and food in stations and trains. The Real Estatesegment develops commercial facilities in stations andareas under elevated tracks and also leases real estate,such as station buildings. In the Other segment, we manage
hotels, travel agencies, advertising agencies, etc. We also
manufacture rolling stock and maintain, inspect, and repair
our railway facilities in this segment.

Uniform management of JR Central Towers and JR Gate Tower

Mission as social infrastructure of the local community
JR Central undertakes the mission of supporting social
infrastructure. That is, in an integrated manner with the
management of Japan’s main transportation artery, wetake a locally oriented approach in operating a networkof conventional lines in the Tokai Region, centered on the
Nagoya and Shizuoka areas, thereby supporting the people
in these areas. The conventional lines operated by JR Central,covering 12 railway sections, reach approximately 1,400 km
in operating kilometers, which is approximately 2.5 times thelength of the Tokaido Shinkansen, and play a role as a meansof transportation for daily life, including commuting to workand school. In other words, they serve as social infrastructureof the local community. We have steadily improved ourservices by, for example, launching new vehicles and thereby
increasing the speed and frequency of the services.
In order to enhance the convenience of limited express
trains, we will continue to develop an integrated networkof the Shinkansen and conventional lines by improving
connections between the two and increase flexibility in theoperation by increasing the frequency of services or numberof cars per train to absorb demand fluctuations caused byseasonal factors and events. In FY2022, we began putting
the new hybrid powered limited express“Series HC85”intocommercial operation for our limited express train“Hida.”
Series HC85 has been introduced to all our“Hida”and“Nanki”

JR Central Group’s affiliated businesses

limited express trains through FY2023. The Series HC85 hasachieved commercial operation as the first hybrid powered
electric car in Japan to reach a top speed of 120 km/h.
Moreover, in order to offer convenient timetables for local
train passengers, we will continue to develop a convenient
rapid train system, operate trains at regular intervals, andincrease the frequency of services or the number of cars per
train, especially during the morning and evening commuting
hours. Furthermore, we put a new type of commuter electricrailcar, the Series 315, into commercial operation. We plan
to gradually introduce it to conventional lines centered on
the Nagoya and Shizuoka City areas in the period throughFY2025. By launching these new vehicles, we will improve
services for our customers by providing safety, stability,
comfort andconvenienceand by further
enhancingenvironmental
performance.

New Series HC85 limited express vehicle

The development of Nagoya Station, the largest stationin our network, is a pillar of our affiliated businesses. The JR
Central Towers (hereinafter, the‘Towers”), opened in 2000,
and the JR Gate Tower (hereinafter, the“Gate Tower”),
opened in 2017, have been recognized as landmarks of
Nagoya and have made a significant contribution to theeconomic development of the Chubu region. We will continue
to operate both buildings in a uniform manner and work toincrease earnings by demonstrating synergistic effects bysegregating the concepts of the businesses of both facilities
and promoting collaboration in sales.

J R C e n t r al To we r s
Towers is a complex consisting of commercial facilities,
hotels, offices, etc., with a height of 245 m and a total floorarea of approximately 417,000 m2.
The office business has enjoyed a high occupancy ratesince its launch. All office spaces are almost fully occupied.
JR Nagoya Takashimaya, ideally located directly above
Nagoya Station, attracts large numbers of visitors. In the
period between FY2021 and FY2022, we secured revenue

through measures such as arenovation of the living section.
Nagoya Marriott Associa Hotelis rated highly for its convenient
location directly above the station,
its spectacular view from the top
floors, its upscale facilities, andother features.

Renovated kitchen andtableware section in
Takashimaya

J R G a te To we r
JR Gate Tower is a high-rise complex building with aheight of approximately 220 m and a total floor areaof approximately 260,000 m 2 that stands adjacent toTowers and consists of commercial facilities, a hotel,
offices, etc.
The office spaces are almost fully occupied due totheir prime location directly above Nagoya Station,
which the Chuo Shinkansen will serve in the future.
Housing about 160 fashion stores, Takashimaya
Gate Tower Mall offers products in categories andprice ranges not found in the adjacent department
store. Nagoya JR Gate Tower Hotel, together with

Nagoya Marriott Associa Hotel, is highly regarded
by a wide range of guests as a hotel that focuses
mainly on accommodation, offering both comfort andfunctionality.
By integrating themanagement and operation of
the entire building with Towers,
we are pursuing efficiency
while adding new content notfound in the Towers, further
enhancing the attractiveness of
Takashimaya
the two buildings.
Gate Tower Mall

Sales and marketing in coordination with local communities along our lines
Areas along our lines are blessed with many tourist
resources. While continuing to strengthen our relationships
with local residents and travel agencies at tourist spots in ouroperating areas, we are working to stimulate tourist demandby publicizing attractive tourist resources at stations, on
trains, through our website and by other means and by taking
various sales and marketing measures.
For example, we offer a train journey with a sense of
the extraordinary by operating the express train“Iida Line
Unexplored Stations”on the Iida Line, which runs throughremote mountain stations and scenic sections, during
periods of high tourist demand. Furthermore, we are holding
the“Sawayaka Walking”service, offering free-of-charge
walking tours requiring no reservation that start from ourstations and visit wayside sightseeing spots. We are also53

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

collaborating with local governments, travel agencies, etc.
through the Destination Campaign organized jointly by thesix JR companies to develop attractive tourism resources andproducts and operate sightseeing trains, etc., contributing
to regional
revitalization
as well as
promotingthe use of the
Shinkansenandconventionallines.
Kowada Station and“Iida Line Unexplored Stations”express train

Profitability improvement of JR Central Group’s affiliated businesses
To respond to changes in the business environment, we
will thoroughly implement low-cost and efficient business
operations and promote the management efficiency ofeach Group company. We will also start and expand new
businesses to improve our profitability further by taking
advantage of our experience gained from synergistic effects
with the railway business.
For example, in relation to the improvement of management
efficiency of group companies, we carried out a merger
between Tokai Kiosk and JR-CENTRAL PASSENGERS in
October 2023 to form JR Tokai Retailing Plus for the purposeof improving the attractiveness and profitability of commercial
facilities in stations.
JR Nagoya Takashimaya, which had promoted step-bystep extensive renewal of the luxury-brands floor, including
setting up a new men’s section, grand opened the floor on

September 29, 2023. A total of 52 brands are available on thisfloor, the largest lineup of merchandise in the Tokai area.
As for real estate development in areas along rail lines,
we have acquired a development site at a distance of a
3-minute walk from the Hachijo east exit of Kyoto Station,
and an attractive hotel for both
Japanese and foreign guests isscheduled to open in FY2026.
We will also start the TOKAISTATION POINT program, ashared point program that isavailable for use in shops inside
the stations of the JR Central「TOKAI STATION POINT」
Group (approximately 1,000
Main visual
shops), in October 2023.
CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

54

SocialSocialCreating“Social Value” －Social－

Improving the Convenience of Facilities (Use of Barrier-Free Designs, Etc.)
Enhanced convenience of stations, etc.
safety and comfort. Kariya City plans to establish and operate
a local community exchange center and a tourist information
facility to coincide with the station’s improvements. JR Central has
decided to create a new space that will be required for the city’s plan in order to turn the surrounding area of the station into a
hub and thereby contribute to the local community. As a railway
company that contributes
to local communities anddevelops together withthe communities, we willcontinue to enhance theconvenience of stations andother facilities in cooperation
with the local municipalities
concerned.
Image of Kariya Station

Initiatives to improve the level of accessibility
Based on relevant laws, such as the so-called Barrier-Free Act,
JR Central cooperates with the central government and local
municipalities to jointly establish and improve facilities to enable
all passengers, including persons with disabilities and elderly
passengers, to use our services safely and with a sense of security.
As part of our initiatives taken in stations, based on the
improvement goal set forth by the national government, weare proceeding with our plan to eliminate level differencesby installing elevators, etc. and to install barrier-free toilets
sequentially in stations used by 3,000 or more passengers perday, as well as those used by 2,000 or more passengers per day
that are positioned as facilities necessary for people’s daily lives
in the general plans of local municipalities. Basically, in all of thestations, installations have been completed or are under way.
Going forward, we will promote the installation of barrier-freefacilities in cooperation with the central government and local
municipalities and in accordance with the central government’s improvement goals. We have completed the installation of
guiding blocks for visually impaired persons and braille blocks thatprevent such persons from falling from platforms in all stations. In
regard to braille blocks, we are sequentially replacing them with atype that indicates where platform edges are located. In addition,
we are working to install movable platform fences to further
enhance safety on platforms. On the Tokaido Shinkansen line,
we have prioritized fencing off platforms at busy stations where
the Nozomi stops. In December FY2022, fences were installed
55

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

Highlight

Generating "Economic Value"

Creating "Social Value"

Corporate Data

SocialCreating“Social Value” －Social－

Improving the Convenience of Facilities(Use of Barrier-Free Designs, Etc.)

The improvement of railway stations is important for local
communities since they serve as a connecting point with the local
community and secondary transportation, such as buses, private
cars and taxis, as well as a gathering spot for the community. In
response to requests from local municipalities, JR Central makes
improvements to stations, including the installation of passages forpedestrians and bicycles and the building of over-track stations,creates plazas in front of stations, establishes new stations, andpromotes railway elevation projects, thereby contributing to
the development of local communities. For example, since thenumber of passengers using Kariya Station on the Tokaido Lineis increasing, particularly during morning and evening commuting
hours, we are currently carrying out work to widen the platforms,
install movable platform fences, and improve the concourse basedon discussions with Kariya City regarding improvements to ensure

Business Strategy

on Platform 20 at Shin-Osaka Station, completing the installation
except for Platform 22 at Shinagawa Station. In the future, we will
install fences at all Tokaido Shinkansen stations. On conventionallines, installation work at Kanayama Station was completed for
Platform 3 and Platform 4 (Tokaido Line). In addition to Kariya
Station mentioned earlier, we are currently installing fences at
Nagoya Station for Platforms 5 and 6 (outbound Tokaido Line) andfor Platforms 7 and 8 (Chuo Line). By FY2030, we plan to installfences at Nagoya Station for Platforms 1 and 2 (inbound TokaidoLine), Kanayama Station for Platforms 1 and 2 (Chuo Line), Chikusa
Station, and Ozone Station. In implementing these measures toimprove accessibility, we will also use the fare system establishedin December 2021 by the government to make train stations
more accessible.
In an effort for train cars, we additionally introduced a new
N700S train car equipped with wheelchair spaces accommodating
six passengers on the Tokaido Shinkansen line. In addition, we
increased the number of seats accommodating wheelchairs thatare available for Internet booking through EX Service. In terms of
conventional lines, we are enhancing barrier-free equipment byintroducing additional new
Series 315 commuter vehicle
and new Series HC85 limited
express vehicle models withexpanded wheelchair spaces.
Platform fences on Platform 20 of Shin-Osaka Station

Cooperation with Local Communities

Initiatives to vitalize local communities
Initiatives in coordination with communities located along our lines

II M ON O T A N BO U

As part of sales and marketing, we are deepening ourties with communities located along our lines while rollingout initiatives such as“Sawayaka Walking”and Destination
Campaign (hereinafter,“DC”).”
The purpose of Sawayaka Walking is to promote theuse of railways on Saturdays, Sundays and public holidays
throughout the year. This free-of-charge walking event allows
visitors to experience the attractive nature, history and cultureof each area along the railway line without requiring advancebooking. The program started in 1991, and the total numberof participants has reached approximately 5.9 million (as ofthe end of September 2023).
One of the largest tourism campaigns in Japan, DC targets
a different region every three months in spring, summer, fall
and winter and is aimed at attracting customers by rail bypromoting new tourist attractions of the region in cooperation
with the local municipalities concerned, six JR Group railway
companies and travel agencies. For the DC implemented along
the lines we operate, we have operated sightseeing trains thatenable passengers to enjoy the charms of the region and soldtravel products that incorporate tourist attractions and special
offers in cooperation with the local communities. For the DC
conducted along railway lines operated by another company,
we advertise the campaign at our railway stations to raiseawareness of the tourist attractions and work with various
parties concerned to attract tourists in locations across Japan.

As an initiative aimed at vitalizing local communities throughnon-railway businesses, we operate the“IIMONO TANBOU”
website, which sells delicacies and selected crafts produced
along the railway lines we operate to be delivered directlyfrom the place of production. The scope of this initiative has
been expanded to include, in addition to introducing productsthat have been loved locallyfor many years, developmentof uniquely crafted products,
events held under the nameof“IIMONO TANBOU,”andexperience events to visit
production areas, all of which
are designed to encourage
many people to feel areas
along our railway line closer
to them. Going forward,
we will continue to work
closely with hard-working
local producers to promote
the attractiveness of local
communities.
IIMONO TANBOUSCMAGLEV and Railway Park - A museum of memories and dreams We opened the SCMAGLEV and Railway Park in March2011 in Kinjo Futo, Minato-ku, Nagoya, as part of ourparticipation in the Monozukuri (manufacturing) Culture
Exchange Area Project hosted by the city of Nagoya. The
SCMAGLEV and Railway Park introduces the progressof high-speed railway technology through displays ofrolling stock mainly of the Tokaido Shinkansen, as well as
conventional lines and Superconducting Maglev. Visitors
can touch 39 real cars in total from various angles to feel
their force and learn with fun the mechanism and historyof railways through experience with exhibitions using
models and simulators. The total number of visitors since
its opening reached 6 million in September 2023.
SCMAGLEV and Railway ParkCENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

56

Business Strategy

Highlight

Generating "Economic Value"

Creating "Social Value"

Corporate Data

SocialCooperation with Local Communities

International exchanges
Contribution to local communities through support for recovery from large-scale disasters
For electric power companies to swiftly recover fromlarge-scale disasters, it is necessary for us to create asystem to enable those engaged in recovery efforts towork safely. In December 2020, Hotel Associa Takayama
Resort entered into a disaster support agreement,
together with two other hotels in the Takayama district,with the Takayama Office of Chubu Electric Power Grid
Co., Inc. and contributes to the local community bysupporting recovery from large-scale disasters, such as
through preferential provision of accommodation.

Hotel Associa Takayama Resort

Disaster prevention and recovery activities in coordination with local communities
We conduct drills to quickly guide customers on
the assumption that a Nankai Trough earthquake has
occurred and trains have stopped between stations.
We are engaged in disaster prevention efforts incooperation with local communities. In the past, we
invited high school children and staff members of local
governments along our railway line to participate in our
drills.

JR Central has deepened its tie with society in the form ofinternational exchanges through receiving observation visitsand exchanging human resources.
In terms of receiving observation visits, we have taken
officials from foreign governments and related persons ofoverseas railway operators on tours of railway-related facilities,
primarily of the Tokaido Shinkansen, to exchange opinions
on railway management and other matters. These visits haveprovided related persons of overseas railway operators with
opportunities to deepen their understanding of systems
that support reliable and safe transportation through onsite observation of actual operations. In terms of exchanging
human resources, we operate an exchange training programin which executives are dispatched to and from a U.K. railway
operating company, as a way of providing opportunities for
employees of both companies to gain further knowledge anddevelop their skills in railway management and technology
through such exchange. Furthermore, in collaboration withseveral universities in the U.S., we operate a summer internshipprogram for students, providing them with opportunities tolearn about the railways and culture of Japan.
Outside Japan, JR Central maintains three overseas offices
in Washington D.C., London and Sydney, where it undertakes

a wide range of international operations, such as gathering
information on railways and latest technologies around theworld, exchanging information with specialists and persons in
the railway industry in various countries, and engaging in PR
activities for overseas markets. For example, in the U.K., weprovide children with exposure to state-of-the-art scientifictechnologies by holding physical classes at local schools to
explain the mechanisms of the superconducting maglev system.
The exchange training program with the U.K. railway
company and the internship program for university students
in the U.S. have been held more than 20 times since their
inception. When reunions for the participants of these
programs are held, many
alumni get together.
The strong relationshipsof trust that we havenurtured with people
who have visited ourcompany over many
years support thevarious activities we
conduct overseas.

Exchange training program with a U.K. railway company

Promotion of culture, art and lifelong learning (JR Central Lifelong Learning Foundation)
Tsunami evacuation guidance training

Earning trust from customers and offering user-friendly services
JR Central is committed to providing services thatare trusted and welcomed by local communities andcustomers, based on our belief that providing safeand reliable transportation and high-quality services tocustomers and earning customer satisfaction lead to ourown joy.
For the Shinkansen, we are implementing the“Brand
Quality Service Campaign”to improve the level of ourcustomer service at stations and on our trains so as toprovide customers with a sense of security, satisfaction
and joy. While in recent years the number of online
reservations has been increasing, the JR Central Group ismaking concerted efforts to enhance its knowledge andskills and foster a service-oriented mindset so that we canaccurately respond to the traveling needs of a wide rangeof customers, including those who are accustomed totraveling on business and travelers visiting Japan.

On our conventional lines, we are aiming to provide
customers with truly valuable services, or what we call
“Real Value Services.”In order to encourage customers
to choose our railway, we encourage employees toenhance their ability to notice the needs of customers andproactively and sincerely provide services that could givecustomers a sense of security along with a sense of affinity,
such as warmth and familiarity.

57

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

engages in a wide range of cultural business activities, including
holding classes on Japanese-style painting and organizing field
trips to historicsites to learn
about history.

≪Boukyo - small sketch≫by Hoshun Yamaguchi, 1953

Hoshun Yamaguchi painting in his atelier

Initiatives in human rights (JR Central Group Human Rights Policy)

Customer service role-play

Customer service scene

Establishment of a medical institution rooted in the local community (Nagoya Central Hospital)
Nagoya Central Hospital in Nakamura-ku, Nagoya, as acore hospital in the local community, provides advanced
and high-quality acute care by coordinating with local
ambulance services to take in over 3,800 ambulance calls
per year and performing over 1,800 surgeries year round.
Looking ahead, Nagoya Central Hospital will look always
to provide advanced, safe, and high-quality medical care tofurther contribute to the local community.

The JR Central Lifelong Learning Foundation is a public interest
incorporated foundation established in October 1990 with the
purpose of contributing to society through the promotion ofculture, art and lifelong learning. The Foundation’s main activities
include holding exhibits of the artwork of Hoshun Yamaguchi, apioneer of new Japanese-style painting who drove the Japanese
art scene, at Hoshun Yamaguchi Memorial Hall (Hayama- machi,
Kanagawa), which opened in October 1991, and opening theateliers and gardens, which offer seasonal flowers and trees
loved by Hoshun and his wife, for public viewing.
Further, in an effort to support lifelong learning, the Foundation

JR Central operates on the basis of respect for humanrights, and we believe that enhancing employees’awarenessof and sensitivity to human rights is important also from theperspective of fulfilling our corporate social responsibility. JR
Central has been addressing human rights issues appropriately
by taking human rights into consideration when hiring,ensuring appropriate customer response, incorporating new
human rights issues, such as harassment, in training and

JR Central Group Human Rights Policy■Respect for human rights

The JR Central Group conducts its business activities with respect for thehuman rights of all people, including customers, business partners andemployees, based on international principles related to human rights.

■Scope of application

This Policy is applied to all companies of the JR Central Group.

■Training and awareness raising

The JR Central Group engages in appropriate training and extensive awareness-raising activities sothat the Policy is understood and effectively implemented in all business activities of the Group.

Nagoya Central
Hospitalawareness raising activities, sharing information on humanrights promotion with group companies, and requestingmaterial suppliers to comply with the law and respect humanrights. We have also established the JR Central Group Human
Rights Policy, which is disclosed on our website together withinformation on the system to promote the policy and thespecific details of activities such as training, as a guide for
conducting business based on respect for human rights.

■Human rights due diligence

The JR Central Group strives to prevent and alleviate negative impact onhuman rights in view of international principles, among others.

1-Sep-22■Dialogue with stakeholders

The JR Central Group engages in dialogue with stakeholders, based on
which it works to respect human rights in its business activities.

■Remedy and correction

In the event a business activity of the JR Central Group causes a negative
effect on human rights or it becomes clear that its business activity has
been involved in a negative effect on human rights, efforts for remedy andcorrection will be made through appropriate procedures.

■Information disclosure

The JR Central Group appropriately discloses information on its initiatives
on human rights through its website, etc.

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

58

SocialBusiness Strategy

Technological development to support JR Central's growth
In order for JR Central to fulfill its mission and develop in the
future, it is essential to work continually to ensure safe and stabledaily transportation and pursue comfortable transportation
services, as well as to build hardware and systems that will serve as
the foundation to support such transportation and services throughtechnological development. To address various technologicalissues in a more integrated and comprehensive manner, we havebeen systematically promoting technological development thatwill lead to ensuring safe and reliable transportation in our railway
business at the Komaki
Research Center, which
was established in 2002, bysetting issues that contributeto company policies froma medium- to long-term
Komaki Research Center
perspective.

Basic cycle of railway R&D
Acquisition of large
amounts of ﬁeld data

(tests on actual train lines, etc.)

Understanding
phenomena
occurring in the ﬁeld

Analytical study
and simulation

Demonstration using large
full-scale testing facility

Key themes of technological development
Based on the themes of“improving safety,”“promoting reform ofbusiness operations,”“realizing next-generation railway systems,”and“applying technology to the Chuo Shinkansen,”we are promoting
technological development to provide safer, more convenient,and more comfortable services efficiently by actively incorporating

technologies such as sensing, image recognition, and robotics.
We also promote further innovation of railway systems andinitiatives to expand our technological scope by broadening ourhorizons to include a wider range of technical fields to sustain anddevelop the company into the future.

Major technological development achievements

59

TokaidoShinkansen new
movable fences

2007

2009

2012

Shinkansen automatic
Next-generation track condition monitoring system
operation system (GoA2)
Trolley wire condition monitoring system
ATC performance ATC signal & track circuit condition monitoring system
improvement
Function of maintaining
High-speed heavy
New alarm trolley wires
overhead wire voltage
simple overhead wires
Wear detection system
by Shinkansen cars

2013

2014

2017

Derailment
N700A
New electronic level
N700S
prevention
crossing device
guards, deviation
Large-scale renovation method
Movable platform fence
prevention stoppers
for civil engineering structures
for conventional lines

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

Major technological developments: Sophistication and labor saving in maintenance,
cost reduction in maintenance and renewal of facilities
technologies such as sensing, image recognition, information
communication, mass data analysis, and robotics, under thebasic premise of ensuring safety.

For the Tokaido Shinkansen, tracks and electricalequipment are measured by Dr. Yellow, a train dedicatedto measurement. We have also developed a technology to
reduce the size and weight of measuring instruments that canbe installed in commercial trains of the latest N700S rollingstock, enabling us to understand the condition of facilities
more frequently and carry out maintenance work in a timely
manner.
As for track condition measurement, we have developed
a next-generation track condition monitoring system withimproved accuracy using our proprietary calculation program.
By measuring the track conditions while trains are moving andsending the data in real time to the General Control Centerand others, we will be able to monitor track conditions more
frequently and more accurately.
To measure the condition of overhead wires and signaling
equipment, we have developed a small and lightweight
trolley wire condition monitoring system and an ATC signal &track circuit condition monitoring system. By measuring thecondition (wear, height, etc.) of trolley wires using commercial
trains, we can eliminate the need to periodically measure all
the lines, which workers used to do once a month at night,
saving a significant amount of labor. We will also be able tocheck the integrity of ATC signals and track circuits at a highfrequency to quickly detect signs of abnormality and takethe necessary action and perform maintenance on signaling
equipment and track circuits promptly.
ATC signal & track circuit
condition monitoring system
Car No. 1

Trolley wire condition
monitoring system
Car No. 12

Car No. 4

Verticalmeasuring
instrument

Horizontal measuring instrumentfor distance and height diﬀerence
between left and right rails

Car No. 16

ATC signal & track
circuit condition
monitoring system

Next-generation track condition monitoring system

Measurement of ground equipment using N700S commercial train(Example of technological development 2) Development of function to maintain overhead wire voltage by Shinkansen cars

Major technological development achievements (FY)
Series N700
Openingof Komaki
Research Center New ATC

Since the opening of the Komaki Research Center, we havebeen striving to enhance the technological capabilities of theentire company through close cooperation between the Railway
Operations Divisions, which manage daily train operations, and theTechnology Research and Development Department to address
the technological challenges faced by the Railway Operations
Divisions and conduct regular technology exchanges, and throughsharing personnel between the two departments. Going forward,
we will pay close attention to technological trends in otherindustries and fields, broaden our inspiration and application,
and actively incorporate external knowledge to enhance ourorganizational capabilities so that we can meet the difficult
technological challenges we face in the railway business.

(Example of technological development 1) Development of technology to measure ground equipment using N700S commercial trains

Veriﬁcation using
testing facility

Analytical study

In addition to improving railway technology for the Shinkansen
and conventional lines, JR Central is striving to develop
technologies that will support the company’s future, as well as
to improve our technological capabilities and develop humanresources. At the Komaki Research Center, we have utilized
its characteristic full-scale testing facilities to achieve various
technological developments, including new rolling stock, measures
to prevent derailment and deviation of the Shinkansen, largescale renovation methods for civil engineering structures, and highspeed heavy simple overhead wires for the Shinkansen. We arealso working on numerous technological developments in light of
the rapid advances in information and communications technology(ICT) and the progress of digital transformation in recent years.

We are developing technologies to advance operations,
reduce labor, and cut costs, such as mechanizing andsystemizing maintenance operations by using new

Field veriﬁcation(from commercial trains,ground facilities,
testing cars, etc.)

Seismic
reinforcement
method forelevated bridges

Corporate Data

Creating "Social Value"

Technological development, technological capability enhancement, and human resources development for the future

Promotion of Technological Development

2005

Generating "Economic Value"

SocialCreating“Social Value” －Social－

2002

Highlight

2020

2021

Millimeter-wave
train radio
Series HC85

2022

2023〜

Technology that converts
all frequency converters
to a stationary type

For the Tokaido Shinkansen, we have maintained theoverhead wire voltage by improving the electric groundequipment to prevent failure to maintain the necessary voltage
for stable train operation due to a drop in overhead wire
voltage caused by high-density train operation. As a technology
to replace the maintenance of overhead wire voltage with thisground equipment, we have developed a function that canmaintain overhead wire voltage by implementing a function to
reduce voltage drops on overhead wire voltage in rolling stock
through software improvements to the main converter installedin N700S cars. This is the world’s first technology to maintainoverhead wire voltage with rolling stock.
This technological development enables us to remove someof the substations and power compensators. When this function

is implemented on all Tokaido Shinkansen trains, we expect
to be able to reduce the number of substations by about 10%
and the number of power compensators by about half. The
introduction of this system is expected to reduce our electricity
consumption by approximately 20 million kWh per year.
Substation

Standard 25,000 V

Main converter(1) Voltage drops

Electricity ﬂow

Voltage(2) Main converter
reduces voltage drop

Development of a function to maintain overhead wire voltage with Shinkansen cars

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

60

SocialBaltimore
Washington D.C.

Creating“Social Value” －Social－

Overseas Deployment ofHigh-Speed Railway Systems

SocialNew York

Dallas
Houston(Washington D.C. – New York)

Texas ProjectTechnical consulting for Taiwan High Speed RailIn response to a request for technical assistance from the
Taiwan High Speed Rail Corporation, which operates Taiwan’shigh-speed rail system based on the Japanese system, webegan providing technical consulting in FY2014 and havecompleted nine individual projects to date. Going forward, in
addition to the construction work we have been supporting

perpetuity. Candidates for overseas expansion are countries andregions where we can expect to introduce complete systems on
new high-speed passenger rail lines, where our superior highspeed rail systems can be used to their full potential. We also
take into consideration that the candidate country/region has
legal systems for intellectual property, etc., political stability, andeconomic power to make huge infrastructure investments. Given
these conditions, we are currently targeting the United States.

system that includes civil engineering structures, signaling
equipment, rolling stock, operation management systems, andmaintenance and repair, as well as provide consulting services
necessary to ensure the safe and reliable operation of high-speed
railways, including the preparation of technical specifications andoperation and maintenance manuals, and the coordination of
relevant Japanese companies.
manufacturers to prepare for core system order contracts.
For the Northeast Corridor Project, we aim to introduce
SCMAGLEV in the Northeast Corridor connecting Washington
D.C. and New York and are carrying out promotional
activities so that the Washington DC. – Baltimore section canproceed first under the cooperation of the Japanese andU.S. governments. Currently in the U.S., the Federal Railroad
Administration and other organizations are conducting
environmental impact assessments with U.S. federal grants.
The Japanese government is also
engaged in a research project tointroduce SCMAGLEV in the U.S.
We intend to provide technicalsupport when the project makes
concrete progress.

61

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

Corporate Data

SocialCreating“Social Value” －Social－

Building Relationships with Material Suppliers

In order to procure higher-quality and reliable materials at
reasonable prices to support safe and reliable transportation,
JR Central procures quality materials in Japan and fromabroad based on its Basic Philosophy of Material Procurement.
In particular, recognizing that quality is the most importantfactor, we conduct on-site quality audits at the plants ofour suppliers, as well as investigate the technical level andmanufacturing capabilities of suppliers and their businessconditions, to check that the quality required for the products
is ensured. We also strive to reduce costs by encouraging theentry of new suppliers, placing orders based on economies ofscale, and rigorously assessing manufacturing costs, among
other measures. In the railway business, which requires us tocontinue to fulfill our social mission in a stable and sufficientmanner over a long period of time, it is also necessary tomaintain the quality of the materials used in the businessover the long term. Amid the recent drastic changes in theenvironment surrounding materials, such as the shortageof parts and materials and long delivery times, we arecommunicating closely with our suppliers and asking them

Basic Philosophy of Material Procurement1

Procurement of high quality materials

3

Procurement of materials at reasonable prices

5
6
7

Conducting a quality audit of rolling stock components

Actual procurement amount of main materials (FY2022)
Machinery andwork tools

Procurement prioritizes the maintenance of safe and reliable transportation24

to provide a stable supply and after-sale care. In particular,
we strive to place orders with multiple suppliers for materials
that are essential to the daily operation of our trains sothat we can avoid the risk of supply disruptions caused byearthquakes or other disasters. We also ask our suppliers
to comply with relevant laws and regulations and to respecthuman rights. We review their efforts in these areas whenstarting business and periodically thereafter.
Suppliers are“partners”with whom we work to reduce
costs while maintaining and improving product quality.
Establishing continuing and stable business relationships
with them enables us
to procure high-quality
products at reasonable
prices, thereby contributing
to the strengthening anddevelopment of the entire
railway-related business inJapan, including our suppliers.

Pursuit of suppliers possessing a supply system capable of strictly
adhering to contractual delivery deadlines
Pursuit of suppliers capable of building a continuing and stablebusiness relationship
Pursuit of suppliers capable of supplying satisfactory after-sale care regardlessof whether such service is needed during normal or emergency times
Pursuit of suppliers capable of adapting to diverse usage
environments

8

Establishment of a satisfactory communication framework

Secretary of Transportation Pete Buttigieg

9

Appropriate handling of information

since the planning stage, we will continue to respond torequests from the Taiwan High Speed Rail Corporation, suchas providing technical support for the procurement of newcars based on the N700S, which the Corporation has decided
to procure in 2023, and contribute to the Corporation’s safeand reliable transportation services.

10

Fair and equitable transactions

11

Pursuit of suppliers who give consideration to reducing theenvironmental burden

12Compliance with relevant laws and regulations

13

Providing and updating website information on procurements

7%
Rails and sleepers

Fuel and chemical
products

Miscellaneous materials

1%

1%
Rollingstockmaterials

Rails and othertrack materials

8%
Signals andcommunications
materials
Relays and switch supplies

8%59%
Purchase amount JPY

203.9billion

Power
Approx.
transmission
materials

Shinkansen inspection tour by U.S.

Efforts to promote the Japanese high-speed railsystem as a global standard
We are continuing to work to establish the Japanese highspeed rail system, which is based on the principle of“Crash
Avoidance,”as a global standard through the International
High-Speed Rail Association (IHRA).

Creating "Social Value"

Policy on material procurement

Efforts in high-speed rail projects in the U.S.
We are continuing our efforts in the Texas Project, whichaims to introduce the Tokaido Shinkansen system in Texas,
and the Northeast Corridor Project, which aims to introduce
SCMAGLEV (Superconducting MAGLEV) in the Northeast
Corridor of the United States.
The Texas Project aims to connect two major cities inthe state of Texas, Dallas and Houston, with the Tokaido
Shinkansen high-speed rail system. The development entities,
Texas Central Partners and its subsidiaries (hereinaftercollectively referred to as“TC”), are working to develop thebusiness, such as formulating technical specifications, preparing
operation and maintenance plans, and raising construction
funds. We provide technological consulting to TC through our
local subsidiary, High-Speed-Railway Technology Consulting
Corporation (HTeC). We are also working with Japanese

Generating "Economic Value"(Dallas – Houston)Consulting & coordination business
Based on the belief that infrastructure that is fundamental to
the local community and government, such as high-speed rail,
should be owned and operated by the government or a companyof the country or region, our policy for the overseas expansionof high-speed rail systems is to contribute to the project throughconsulting and other businesses, rather than becoming thebusiness entity. Specifically, we propose to provide a complete

Highlight

Northeast Corridor ProjectSignificance of overseas expansion
The expansion of high-speed rail systems overseas is expected
to expand the market for related Japanese manufacturers
and contribute to the maintenance and strengthening oftechnological capabilities, which in turn will flow back to
JR Central in the form of a stable supply of materials andequipment, technological innovation, and cost reduction. It
is an important initiative for JR Central to fulfill its mission ofmaintaining and developing Japan’s main transportation artery in

Business Strategy

400 suppliers

16%Power source equipment
and insulators

Rolling stock and bogies

Declaration of Partnership Building
In support of the “Declaration of Partnership Building” promoted by thegovernment and business organizations, JR Central declares that it will focus its
efforts on coexistence and co-prosperity throughout the supply chain, new businessalliances that transcend company size and affiliation, and compliance with desirable
trade practices between parent and subcontractors.
IHRA Forum (left: main conference, right: technical visit)

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

62

Environment

Business Strategy

Highlight

Generating "Economic Value"

Corporate Data

Creating "Social Value"
Environment

Creating“Social Value” ーEnvironmentーContribution to Global Environment Preservation

CO 2 emissions in 2050 Net

Zero

CO 2 emissions in FY2030

JR Central promotes initiatives for global environment
preservation through a structure headed by the President,
under which the Corporate Planning Division and the General
Technology Division, in charge of the management units andtechnology units respectively, cooperate to formulate policies
for efforts to achieve carbon neutrality, resource recycling andbiodiversity, as well as policies for technological development,
and the Operations Divisions of the two railway businesses,
the Chuo Shinkansen Promotion Division and the Business
Promotion Division roll out the specific efforts.

46% reduction

1 Provide comfortable transportation services topromote further use of railways, which are superior interms of global environment preservation
2 Promote technological development that contributes

3 Use fuel and energy efficiently

Environmental superiority of railways
The problem of global warming is an issue that should be
addressed on a global scale. As CO2 accounts for the largest
emissions among greenhouse gases and is thus considered
to have the largest impact on global warming, railways havethe outstanding characteristic of being highly energy efficientcompared to other transportation modes and having minimal
adverse impact on the global environment. Railways accountfor only 7% of CO2 emissions despite undertaking 25% ofJapan’
s overall passenger transport volume. Compared
to an aircraft (B777-200), the Tokaido Shinkansen (Series

N700“Nozomi”) consumes approximately one-eighth of
the amount of energy per seat when traveling between
Tokyo and Osaka and discharges about one-twelfth of theCO2 emissions, proving that the Tokaido Shinkansen has
overwhelming environmental superiority. JR Central believes
that having as many passengers as possible opt to use railway
services, which have a smaller environmental impact thanother modes of transport, will mitigate the load placed on
the environment across the entire transportation sector andcontribute to global environment preservation.

Distribution of passenger transportation share, in terms oftransportation volume, energy consumption, and CO2 emissions

Comparison of the Tokaido Shinkansen and aircraft (between Tokyo and Osaka)

Aircraft

Automobile

Energy consumption per seat

Other

Shinkansen

1%Less than

1%

3%
Series N700
“Nozomi”

Conventional Lines
Operations Division

Cooperation

Shinkansen
Operations Division

General Technology Division

Chuo Shinkansen
Promotion Division

Business
Promotion Division

JR Central has established a set of Environmental Action Guidelines consisting of the following seven items as part of its
engagement in global environment preservation.

to global environment preservation

Bus

Corporate Planning Division

Environmental Action Guidelines*Based on the Japanese government’s policy to achieve carbon neutrality by 2050

Railway

President

Guidelines

vs FY2013

Goals toward carbon neutrality ※Promotion structure

Approximately

90MJ ※1 1/8 of aircraft

4 Promote waste control and recycling
5 Appropriately manage chemical substances
6 Procure environmentally friendly goods and materials
7 Contribute to society and raise awareness for global

environment preservation

Goals toward carbon neutrality
With global environmental conservation as a key
management theme, we have been constantly enhancing
the environmental superiority of railways, which are moreenergy efficient and have less environmental impact thanother modes of transportation, by proactively adoptingenergy-saving rolling stock and equipment.
Additionally, we strive to further reduce CO 2 emissions
to achieve carbon neutrality in 2050. On the basis of theJapanese government’s 2050 carbon-neutrality policy,
JR Central and the JR Central Group aim to achieve
net zero CO 2 emissions in 2050 as well as reduce CO 2
emissions in FY2030 by 46% from FY2013 levels.

(thousand t)

JR Central Group’s CO₂ emissions

1,800

1,705

1,600

Scope1

Scope2

1,394

1,400
1,200
1,000

1,569

800

1,279
vs FY2013
-46％

600
400
200
0

137
2013

115
2022

Net zero

2030

2050

(FY)

Aircraft

69%

87%

83%

B777-200

746MJ ※2

Contribution to global environment preservation and the achievement of a decarbonized society

CO2 emissions per seat

3%
3%

5%

25%

3%
4%

Passenger kilometers Energy consumption*Handbook of Energy &Economics Statistics*Handbook of Energy &Economics Statistics

4%
3%
7%
CO2 emissions*Greenhouse Gas InventoryOﬃce of Japan*The items in the breakdown may not add up to 100% due to rounding.
Source: Handbook of Energy & Economics Statistics (2020) for transportation volume andenergy consumption. 2020 data from the National Institute for Environmental Studies,
Greenhouse Gas Inventory Office of Japan for CO2 emissions.

63

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

Shinkansen
Series N700
“Nozomi”※1

Approximately

4.2kg-CO2 1/12 of aircraft

Aircraft
B777-200

50kg-CO ※2
2*1 Calculation based on running performance (by JR Central) of Series N700
“Nozomi”(Tokyo - Shin-Osaka).
*2 Calculated by JR Central for B777-200 (Haneda - Itami/Kansai Airport) using
ANA's“Annual Report 2011”for reference.

Of the 1.25 million tons of CO 2 emitted by JR Central,
approximately 95% is indirectly emitted through our use ofelectricity, while the remaining 5% is directly emitted throughour use of fuels, etc. To address the 5% direct emissions
from the use of fuels, we introduced the Series HC85 with
reduced environmental impact and promote tests on biofuels.
In addition, we have begun conducting simulated runningtests combining railcar driving test equipment and hydrogen
supply equipment for the development of hydrogen-powered
railcars and will continue to conduct research on battery
railcars. To address the indirect emissions from the use ofelectricity, which account for the remaining 95% of the total,
we will work to utilize renewable energy while making further
energy-saving efforts, such as introducing additional energyefficient rolling stock, including the N700S and Series 315, andreplacing frequency converters for the Tokaido Shinkansen
one by one with types with lower power loss, in addition topromoting decarbonization efforts across the entire power
generation sector in Japan.
We also endorsed the recommendations of the Task Forceon Climate-related Financial Disclosures (TCFD)* in May 2021,
based on which we are analyzing the risks and opportunities
CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

64

Highlight

Business Strategy

Generating "Economic Value"

Corporate Data

Creating "Social Value"
Environment

Contribution to Global Environment Preservation

related to climate change so that we can utilize them forstable business operations over the long term. We have so
far disclosed qualitative information on the four elements
specified by the TCFD as well as the results of a quantitative
analysis on facility damage of the Tokaido Shinkansen
due to flooding. In addition, we completed the analysis ofrevenue decreases of the Tokaido Shinkansen due mainly tosuspension of service, which we disclosed recently. Goingforward, we will continue to add depth to our risk analyses
and consider strengthening our facilities to prepare against
natural disasters.
Furthermore, we will cooperate with external companies
and organizations to contribute to the preservation of the
global environment and achievement of a decarbonizedsociety by further enhancing the environmental superiorityof railways through new technologies and initiatives that
contribute to the reduction of environment impact.
Initiatives to reduce CO2 emissions[Direct emissions] ○ Hybrid powered rolling stock
Fuel:
0.07 million tons ○ Development of hydrogen-powered rolling(approx. 5%)
stock (fuel cell trains or hydrogen engine trains)○ Research on battery and fuel cell railcars

JR Central’s
CO₂ emissions:1.25 million tons
(FY2022)○ Biofuel tests

type*1 thanks to its silicon carbide semiconductor drive system, lighter car body, reduced running resistance, and other features.
As a result, the unit energy consumption*2 as of the end of FY2022 decreased by approximately 32% from what it was in
FY1990.
JR Central has also been striving to reduce the energy consumption of rolling stock on conventional lines. We have been
introducing the new type commuter train Series 315 since■Comparison of electricity consumption of electric railcars on conventional lines*
FY2021 to replace Series 211, with a plan to introduce 352
100(Basis)cars by FY2025. With further improvements made in energy
Series 211
efficiency through the use of silicon carbide for the power
Series 313
72
converter, the Series 315 consumes approximately 35% lesselectricity than the Series 211.
Series 315

65[Indirect emissions]○ Energy saving
Electricity purchase:
1.18 million tons ○ Renewable energy utilization(approx. 95%)
*Refer to pages 23-24 for information on the TCFD.

*1 Generic name of N700A and the Series N700 (enhanced version)*2 JR Central defines unit energy consumption as the amount of energy consumed
when running one car for one kilometer, as total rolling stock kilometers is the valuethat is the most relevant to its business activities.

Comparison of electricity consumption by type of
Tokaido Shinkansen rolling stock
270km/hInitiatives to reduce direct CO2 emissions

Approx. -35%

*Based on a simulated run from Toyohashi to Ogaki and from Nagoya to Nakatsugawa at the maximum speed of 120 km/h (rapid operation)

Trend of the ratio of Tokaido Shinkansen rolling stock and unit
energy consumption
（%）
100

-28％
270km/hSpeed of all trains increased (to 270 km/h)■Comparison of diesel fuel consumption of conventional diesel cars
(Series 85) and hybrid cars (Series HC85)*

100(Basis)

Hybrid cars
(Series HC85)

Approx. -30%

*Based on a simulated run from Nagoya to Toyama at the maximum speed of 120 km/h

Series HC85
Diesel engine hybrid system

Fuel cellrailcarHydrogenpowered
railcars

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

Series 300（1992）

Series 700（1999）

N700A（2013）

N700S（2020）

Notes: 1. Based on a simulated run from Tokyo to Shin-Osaka at the maximum speed listed above
2. Figures in parentheses represent the year in which the series was introduced.
3. Includes the eﬀect of optimization of air conditioning control method

60

80

Series 0 & Series 100

60

Series 300 & Series 700
40

Series N700 & N700A

40

20

N700S

20

0

0

’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05 ’06 ’07 ’08 ’09 ’10 ’11 ’12 ’13 ’14 ’15 ’16 ’17 ’18 ’19 ’20 ’21 ’22(FY)

On the Tokaido Shinkansen, frequency converters are
installed in sections east of the Fuji River to convert the 50Hz
electricity received from the power company into the 60Hz
electricity required for the Shinkansen to run. In the period
from FY2021 to FY2027, two units of conventional, rotatingtype frequency converters at Nishi-Sagami were replaced withstationary-type units with less power loss. In addition, thedevelopment of technology to suppress instantaneous large

currents caused by ground faults in overhead wires and to
avoid overloads caused by train schedule disruptions, etc. has
made it possible to make all frequency converters stationary.
We plan to replace the two Tsunashima units with stationary
types by the end of 2037. These replacements are expected
to reduce electricity consumption by approximately 80 million
kWh per year.

Hydrogen-powered hybrid system (fuel cells)

R e n e wa bl e e n e r gy u t il i z a t i on
HydrogenenginerailcarHydrogen-powered hybrid system (hydrogen engine)*Vehicle control device: A device that controls the operation of the electric motor by appropriately
combining the output of fuel cells or a hydrogen engine and charging and discharging of batteries.

vehicles,”a technological development project of the Railway
Technology Development and Promotion Framework by the
Ministry of Land, Infrastructure, Transport and Tourism. JR Central
is in charge of testing the performance of diesel engines alone.

Energy-saving - Introduction of energy-conserving rolling stock -

65

72％

Approx. 32％ improvement

80

Energy-saving - Facility improvement Configuration of hydrogen-powered railcars

Initiatives to reduce indirect CO2 emissions
We are actively developing and introducing energyconserving rolling stock in an effort to further reduce theTokaido Shinkansen's energy consumption. We have been

77％

70

Biofuel tests
With regard to biofuels, we are conducting demonstration
tests with the Railway Technical Research Institute and other JR
companies for the introduction of biofuel under the“demonstrationand evaluation of next-generation biodiesel fuel for railway

92％

Conventional
diesel cars
(Series 85)

Development of hydrogen-powered rail cars and research on battery railcars
We have been working to develop hydrogen-powered
railcars as a way of reducing CO 2 emissions from diesel
railcars to net zero. We aim to use, as a power source,fuel cells or hydrogen engines, which use hydrogen as
fuel, instead of diesel engines that use light oil as fuel,aiming to introduce a hydrogen-powered hybrid systemthat runs on electricity obtained from this and electricity
from batteries. In order to test the performance of railcars
powered by fuel cells or hydrogen engines and theirsuitability for our long-distance, nonelectrified routes withmany mountainous areas, we began simulated runningtests that combine railcar driving test equipment andhydrogen supply equipment in November 2023. We havealso been conducting research on battery railcars, which
are equipped with a large running battery and can run on
sections where there are no overhead wires.

100％

-7％
Rolling stock ratio

We developed the new, hybrid-powered limited express
Series HC85 as a successor to the Series 85 diesel railcars
used for our limited express trains“Hida”and“Nanki”andcompleted its introduction process in July 2023. The Series
HC85 achieves an approximately 30% reduction in diesel
fuel consumption and CO₂ emissions and an approximately
40% reduction in NOx emissions in comparison to the Series
85 diesel railcars by making use of the power stored in thebatteries when accelerating and stopping.

285km/h（%）
100

vs FY1990※3

285km/hHybrid powered rolling stock(to 285 km/h)

introducing the N700S since FY2020 to replace Series N700,
with a plan to introduce 59 trainsets by FY2026.
The N700S consumes 7% less electricity than the N700A

Of our facilities, the SCMAGLEV and Railway Park and theHamamatsu Workshop have installed solar power generation
systems. The systems generate power of approximately 450,000
kW per year each at the respective facilities. In addition, since
FY2022, we have been working to achieve net zero CO2emissions of electric railcars on the Taketoyo Line by purchasing
and using FIT non-fossil fuel energy certificates* 1 worth
approximately 2 million kWh, the annual electricity volume used
for the operation of electric railcars on this line, from ElectricPower Development Co., Ltd.
In 2024, we plan to begin the work to install a solar power
generation system that uses the Tokaido Shinkansen’s tracksideslopes. The maximum output of 2.7MW is planned, using
trackside slopes suitable for solar power generation along theTokaido Shinkansen (Shin-Yokohama - Nagoya). The power

output, of approximately 2.7 million kWh annually, equivalent
to the power requirement of approximately 650 ordinary
households, will be used mainly at nearby Shinkansen stations*2.

*1 The FIT non-fossil fuel energy certificate is a certificate of the non-fossil fuel energy
value of the renewable electricity purchased under the FIT (Feed-in Tariff) system.
*2 This plan is subject to change depending on the environment along railway lines,
geological conditions, etc.

Solar power generation using the Shinkansen trackside slope (trial installation)
CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

66

Business Strategy

Highlight

Generating "Economic Value"

Creating "Social Value"

Corporate Data

Environment

Contribution to Global Environment Preservation

Initiatives on resource recycling
JR Central strives to recycle resources, promoting“three Rs”(reduce, reuse and recycle) initiatives, including

reducing waste discharge from construction work, utilizing
rainwater, reusing uniforms, and recycling train tickets.

Recycled aluminum from Tokaido Shinkansen rolling stock
Recycled aluminum made by removing impurities from
scrapped Tokaido Shinkansen train cars is molded andprocessed for intended purposes and reused in a variety of
products. The N700S car uses recycled aluminum for interior
parts. As we have ensured reliability and quality as a car
body material, by establishing an aluminum sorting process,we will use recycled aluminum in parts of the car body that
require strength in the future. In addition, we provide recycled
aluminum as an interior construction material for the Shin-Yoko Gateway Spot waiting room at Sagami Railway andTokyu Railways Shin-Yokohama Station and jointly developed
a metal baseball bat for children with Mizuno Corporation.
Another plan is to use it for the Iida Line Shimoji Stationbuilding, which is scheduled to be rebuilt in the second half of
FY2023. Recycled aluminum from Tokaido Shinkansen rollingstock can reduce CO2 emissions from the production processby 97% compared to newly manufacturing regular aluminum,
reducing environmental impact.

Sustainability initiatives at hotels
JR Tokai Hotels Co., Ltd. is striving to reduce the amountof plastic products it provides, such as by providing paper
straws and take-out tableware made from alternative
materials. In addition, Hotel Associa Takayama Resort
has registered as Takayama City's“Hida Takayama SDGs
Partner”and is contributing to the reduction of foodwaste by developing
Hamburg steak thatuses scraps of Hida
beef and menu items
that incorporate locallysourced ingredients.
Tableware made from alternative
materials

Sustainable public procurement
JR Central implements a green procurement policy,
prioritizing the procurement of environmentally friendly
materials. To this end, we established the JR Central GreenURL

Procurement Guidelines to enhance coordination with our
suppliers and work with them to contribute towards global
environment preservation.

https://company.jr-central.co.jp/company/material_procurement/_pdf/green_guide_line.pdf

Conservation of biodiversity and coexistence with local communities
In order to reduce the impact of our business activities
on ecosystems and contribute to local communities, we areworking to conserve biodiversity in cooperation with external
companies and organizations.

For example, in order to promote the conservation of thenatural environment of the Southern Alps, we engage inthe following initiatives to support local residents' efforts toconserve alpine plants and improve forests.

Conservation of alpine flora

Manufacturing process and usage examples (metal bats and station building) of Recycled aluminum from Tokaido Shinkansen rolling stock*Images in ② and ④ courtesy of SUS Corporation, and image of bats, of Mizuno Corporation

In Japan’s Southern Alps, there has been the issue ofloss of flower fields due to deer depredation and sediment
discharge, among others. In Nagano Prefecture, the Southern
Alps Counter-Depredation Association has been implementing
measures to protect alpine flora by installing deer-proof
fencing and capturing Japanese deer, among other measures.
JR Central entered into a Biodiversity Partnership Agreementwith the Southern Alps Counter-Depredation Association andNagano Prefecture in March 2022 to provide partial support
for the expenses necessary for alpine plant conservation
activities conducted by the Association, which has contributed
to the expansion of the protected area. In addition, ouremployees take part in the work to install deer-proof fences.

Tokaido Shinkansen upcycling
We process fabric from Tokaido Shinkansen seats anduniforms that had previously been discarded and use it inan“upcycling”project to recycle it into new products. In
addition to recycling the fabric from seats removed in vehicle
inspection and maintenance work into products such asslippers, we recycle old customer-service uniforms replacedwith new ones into products such as mini shoulder bags.

Forest maintenance

Moquette slippers

Mini shoulder bag

In the areas centered around the Southern Alps UNESCO
Eco Park, JR Central is supporting the efforts of the local
communities to maintain forests. In January 2023, wenewly entered into a Forest Maintenance Agreement withthe municipality of Hayakawacho and the Hayakawacho
Forest Owner’s Cooperative in Yamanashi Prefecture andin June 2023, a Forest Foster Parent Agreement with theKamiina Forest Association, etc. in Ina, Nagano Prefecture.

We currently engage in support activities in four locations,
including Fujikawacho, Yamanashi Prefecture, andOoshikamura, Nagano Prefecture where we signed similar
agreements in 2022. We aim to continue the effort to“protect,utilize and nurture”the natural environment of the Southern
Alps as a whole, together with the people in the local
communities involved.

Reuse of lead-acid batteries for level crossingsOn conventional lines, we annually replace a certain numberof lead–acid batteries installed in level crossing facilities as a
backup power supply in case of power outages. We began
in June 2023 to test a process for recycling and reusing usedlead-acid batteries at some level crossing facilities, using Rent
Corporation's lead-acid battery recycling technology. If therequired performance and durability are confirmed through67

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

the tests, we plan to gradually introduce recycled lead-acidbatteries, which will contribute to not only the reductionof waste but also the reduction of CO2 emissions. We notethat CO2 emissions from recycling lead-acid batteries can be
reduced to levels more than 90% lower than CO2 emissions
from manufacturing them.

Initiatives on compliance with laws and regulations
As part of our efforts to preserve the global environment,
we annually conduct compliance surveys of all workplaces
to ensure compliance with various environmental laws andregulations and appropriately manage chemical substances,

etc. Furthermore, we conduct internal audits to confirm thecompliance status of each workplace and provide feedbackon the results in an effort to ensure thorough compliance.

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

68

Highlight

Business Strategy

Generating "Economic Value"

Corporate Data

Creating "Social Value"
Environment

Contribution to Global Environment Preservation

Management of chemical substances■ Environment-related data

Based on the PRTR system* under the Act on Confirmation,etc. of Release Amounts of Specific Chemical Substancesin the Environment and Promotion of Improvements to
the Management Thereof (Pollutant Release and Transfer
Register Law), we report the amount of emissions andtransfer of relevant substances and manage those substances
appropriately.
Furthermore, while we had been using oil-based paintcontaining volatile organic compounds (VOC) for full body
painting of trains on the Shinkansen and conventional lines,
we introduced the country’s first water-based paint coating

robot for the Shinkansen in our Hamamatsu Workshop in
2017, enabling environmentally friendly water-based painting.
We also introduced the country's first water-based paintcoating robot for the front of trains on conventional lines in
the Nagoya Workshop in 2020, enabling water-based paintingof some bodies.

Activity status and environmental accounting for FY2022

Environmental load in business activities

The investments, costs, and their principal effect involved in environment
preservation activities during FY2022 are estimated as listed below.

The main resources and energy
consumed as well as waste generated
in JR Central’s business activities during
the year FY2022 are as shown below.

Environmental accounting
Category

Investment* A system whereby business operators identify the amount of chemical substances that may be harmful to humanhealth or the ecosystem that are released from their business sites into the environment (air, water and soil) and aretransferred outside of business sites as part of waste and report it to the national government. The government thentabulates and discloses the amounts released and transferred based on such reported data and estimates.

Globalenvironment
preservation
cost

Train body painting

Research anddevelopment
cost

●
●

●

●

●

Resource
recycling cost

Measures against pollution
As measures against water contamination and air
pollution, we strive to prevent pollution by installingdevices to treat waste water left after washing vehicles
and burners that reduce the generation of NOx andconducting regular measurement. In addition, as measuresagainst soil contamination, we submit a report to therelevant organizations should any substances exceeding
the standard value set be detected in soil surveys
conducted at the time of landform changes or land sale,
and we will take appropriate measures as instructed bylaws and regulations and the administrative authorities.

Cooperation with external entities
Environmental Partnership Organizing Club (EPOC)
EPOC is a group that was established in 2000 mainly by
the industry sector in the Chubu region, with the aim ofbuilding a sustainable economy and society by leveraging
the environmental achievements of companies. (Please
see EPOC’s website for more details.)●

INPUT/OUTPUT

Environment preservation cost(100 million yen) ※1

Main Initiatives

1048.1Development of energy-conserving rolling
stock
Development related to environment
preservation along railway lines

0.0

Proper disposal and recycling of stationand train refuse
Proper disposal and recycling of items generated
from workshops and construction work

0.3

Total※2

6.0

116.8

73.7

●
●

●

82.0

54.7

1130.4

251.5

Electricity

2.77

billion kWh(0.19 billion kWh)

Water

A4-sized
copier paper

30,000kL 3.094million m³ 100million sheets(31,000 kL)(1.927 million m³) (70 million sheets)

Note: For railway operation: electricity 2.09 billion kWh (Shinkansen: 1.78 billion kWh,conventional line: 0.31 billion kWh), fuel 16,000 kL (all for conventional lines)

Recycle rate of Shinkansen rolling stock: Approximately 90%
Recycle rate of uniforms: Basically 100%OUTPUT
CO2 emissions

Protection of the environment along railway lines
by modifying noise-blocking walls and increasing
their height, shaving rail surfaces, etc.

1.248 million t(0.146 million t)

Refuse and waste[Approach to environment preservation cost]● Compilation is applicable only to JR Central.
● The applicable period is April 1, 2022 to March 31, 2023.
●“Environmental Accounting Guidelines 2005,”a publication of the Ministry of the Environment, was consulted with regard to aspects of style.
● Depreciation is not included in the calculations for expenditures.
● In the event of multiple-purpose expenditures, the full amount with greater environment preservation eﬀect is included in the calculation.

594,000t

Station, train and oﬃce refuse 13,000 t
Construction waste
567,000 t
Rolling stock waste
13,000 t

Notes: The electricity and fuel CO₂ emission
coeﬃcients are based on a report underthe Act on Rationalizing Energy Use.
The recycled amount is reprinted. Items
conﬁrmed to have been reused bymanifest or vendor have been recorded.

*1. Fractions below 10 million yen are omitted. *2. Totals do not add up due to rounding.

Recycled

461,000 t(Includes internal reuse)

Electricity consumption
Scope1

Scope2(thousand t)(million kWh)

1,600
1,400

Fuel
(Crude oil equivalent)● Energy consumption by N700S: -28% (vs Series 300)**Comparison between Series 300 (traveling at 270 km/h)
and the N700S (traveling at 285 km/h)

CO 2 emissions

We joined EPOC in FY2002 and are currently involvedin the operation of the organization as a core company.
We will continue to contribute to global environment
preservation through EPOC in cooperation with member
companies, among others.

*Figures in parentheses are for consolidated subsidiaries.

INPUT

Percentage of energy-conserving rolling stock: 100% (Shinkansen electricrailcars), 100% (conventional line (electric railcars and diesel railcars))● New production of Shinkansen N700S rolling stock● New production of conventional-line Series 315 and Series HC85 rolling stock●

Introduction of energy-conserving rolling stock
Improved energy-efficiency at stations
and office buildings

Environment ● Countermeasures against noise and vibrationconservation cost ● Proper management of environmentally
along railway lines hazardous substances

Notes

Expenses

1,362 1,338

1,432
1,303

1,529 1,530 1,514 1,480

1,476

3,500

1,413

2,960 2,970 2,910 2,790 2,750 2,790 2,790 2,850 2,850 2,860 2,860 2,900 2,720 2,690 2,770

1,354
1,220 1,173 1,248

1,245

1,200

3,000
2,500

1,000

2,000
800

69

Joint project to test“EV sharing for corporations”at Toyohashi Station

600

Since July 2023, JR Central has beenworking with ENEOS Corporation on a
project to test an EV sharing service forcompanies at a parking lot in front of
Toyohashi Station.
In this testing project, we areverifying a business model that
reduces vehicle ownership costs andreduces global environmental impact
through reduction in CO2 emissions
by replacing corporate vehicles usedin business activities with EV sharing.
We are inviting local businesses that
support our purpose to participate,contributing to each company's efforts
to reduce their environmental impact,
and working to strengthen collaboration
with the local community.
We will look into the possibility of
expanding the joint project of testingan EV sharing service.

400

1,500
1,000

200

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

500

76

Comparison of general corporate car leasing and corporate EV sharing being tested

78

79

80

80

80

77

73

71

74

71

73

71

71 71
73
71

0

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 (FY)02008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 (FY)

Amount of water used

Carbon intensity(t CO₂/million yen)(thousand m³)

2.50

4,500

2.25

4,106
4,000

2.00

3,500

1.62
1.50

3,917

3,685 3,732

3,541 3,445

3,331 3,287 3,325

3,353
3,143 3,148

3,016 3,049 3,094

3,000

1.10 1.17 1.11 1.05 1.15 1.20 1.17 1.11 1.07 1.03 0.96 0.94

1.09
2,500

1.00

2,000
1,500

0.50

1,000
0.00

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 (FY)500

Note: Carbon intensity rose in FY2020 as operating revenues (non-consolidated)decreased significantly due to the impact of COVID-19.

02008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 (FY)CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

70

GovernanceBusiness Strategy

Generating "Economic Value"

Corporate Data

Creating "Social Value"
Governance

Creating“Social Value” ーCorporate Governanceー

Board of Directors, Audit and Supervisory Board Members and Corporate Officers (as of June 23, 2023)
Chairman and
Representative
Director

President andRepresentative
Director

Shin Kaneko

Shunsuke Niwa

Executive Vice President
and Representative Director

Executive Vice President
and Representative Director

Kentaro Takeda

Akihiko Nakamura

Director General of
the Corporate Planning
Division and in chargeof the Administrative
Departments(except for Business
Promotion Division)

Director Generalof the Business
Promotion Divisionand in charge of
specially assigned
matters

Executive Vice President
and Representative Director

Executive Vice President
and Representative Director

Executive Vice President
and Representative Director

Counselor andDirector

Mamoru Uno（Ph.D.）

Hiroshi Suzuki

Atsuhito Mori

Koei Tsuge

In charge of the
Shinkansen andConventional Lines
Operations Divisionand in charge ofTransportation Safety
SectionIn charge of theGeneral Technology
Division and in chargeof Overseas High
Speed Railway Project

In charge of the Chuo
Shinkansen Promotion
Division

Highlight

Full-time Audit andSupervisory Board
MemberFull-time Audit andSupervisory Board
Member (Outside)

Full-time Audit andSupervisory Board
Member (Outside)

Tatsuhiko Yamada

Hajime Ishizu

Fumio Yamashita

Audit andSupervisory
Board Member(Outside)

Makoto Hayashi

Senior Corporate Executive Officers

Corporate Executive Officers

Ataru Kimura

In charge of the Secretarial Department, the Audit
Department and the Public Relations Department

Manabu Ishibashi

Deputy Director General of the Corporate Planning
Division and General Manager of the Investment Planning Department

Takanori Mizuno

Director General of the Chuo Shinkansen Promotion
Division and in charge of controlling the Construction Section

Tatsuya Okajima

Director General of the General Technology Division andin charge of controlling the Electrical Engineering Section

Motoaki Terai

Director General of the Maglev Systems Development
Division of the Chuo Shinkansen Promotion Division

Hisao Sawada

Deputy Director General of the Chuo Shinkansen Promotion Division
and General Manager of the Planning and Promotion Department

Shigeki Miyamoto

Deputy Director General of the Maglev Systems Development
Division of the Chuo Shinkansen Promotion Division

Kenichi Niimi

Deputy Director General of the Chuo Shinkansen Promotion Division
and General Manager of the Chuo Shinkansen Construction Department

Hiroto Takeuchi（Ph.D.） Deputy Director General of the Chuo Shinkansen Promotion Division,
General Manager of the Electrical Engineering Department of the
Chuo Shinkansen Construction Department and General Manager
overseeing the Nagoya Construction Department

Director (Outside)

Director (Outside)

Director (Outside)

Director (Outside)

Director (Outside)

Haruo Kasama

Taku Oshima

Tsuyoshi Nagano

Hiroko Kiba

Joseph Schmelzeis

Naoki Hayakawa

General Manager of the Administration Department and in charge of
the Legal Affairs Department and the Property Management Department

Masami Nitta

Director General of the Conventional Lines Operations Division

Atsushi Tsujimura

Director General of the Shinkansen Operations Divisionand in charge of controlling the Transportation Section

Masami Owaki

Director General of the Shizuoka Branch Office andin charge of controlling the Tracks and Structures Section

Shunichi Usui

Director General of the Kansai Branch Office andin charge of controlling the Rolling Stock Section

Directors’Skills Matrix

Name

Status and Responsibilities in the
Company

Shin Kaneko

Chairman and Representative
Director

Shunsuke
Niwa
KentaroTakedaAkihikoNakamura
Mamoru Uno（Ph.D.）
HiroshiSuzukiAtsuhito Mori

Corporate
Personnel/
Governance/
management/
Education/
ComplianceBusiness strategy
Labor

President and Representative
Director
Executive Vice President and Representative Director
Director General of the Corporate Planning Division and in charge of the
Administrative Departments (except for Business Promotion Division)
Executive Vice President and Representative Director
Director General of the Business Promotion
Division and in charge of specially assigned matters
Executive Vice President and Representative Director
In charge of the Chuo Shinkansen Promotion Division
Executive Vice President and Representative Director
In charge of the Shinkansen and Conventional Lines Operations
Division and in charge of Transportation Safety Section
Executive Vice President and Representative Director
In charge of the General Technology Division and in
charge of Overseas High Speed Railway ProjectTechnology
Finance/development/
Accounting
Environment

●

●

●

●

●

●

●

●

●

●

●

●

●

●

●

●

●

●

●

●
●

●

●

●

●

Koei Tsuge

Counselor and Director

Haruo
KasamaDirector

Taku Oshima

Director●●

Tsuyoshi
NaganoDirector●●

Hiroko Kiba

Director

JosephSchmelzeis

Director

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

Community
relations/International
aspects

●

●

●

●

●

●

●
●

●

●

Atsushi Kamiya
Kenji Fukami

Takahide Saito

Mitsuhiro Aoki
Masaru Yosano

●

●

●

General Manager of the Secretarial Department Takaaki Nagaosa (Ph.D.) Deputy Director General of the Chuo Shinkansen
Promotion Division, General Manager in charge of the
Deputy Director General of the Corporate Planning Division,
Civil Engineering Department of the Chuo Shinkansen
General Manager of the Project Development Department andConstruction Department, General Manager in charge ofGeneral Manager of the Tokyo Project Development Department
the Environmental Preservation Management Department
Deputy Director General of the Corporate Planning Division andand General Manager of the Chuo Shinkansen Shizuoka
General Manager of the Information Systems Department
Construction Office
Deputy Director General of the General Technology Division and General Yuichi Hanahara
Manager of the Technology Research and Development Department
Kazushi Ide
Deputy Director General of the General Technology Division Atsushi Sakakibara
and General Manager of the Technology Planning Department
Hirotaka Kawada
Deputy Director General of the General Technology Divisionand Head of Consulting and Coordination Office Overseas High Takeya Tanitsu
Speed Railway Project of the Technology Planning Department Hitoshi Kato

Hiroshi Shigeta

Deputy Director General of the Chuo Shinkansen Promotion Division and
Deputy Director General of the Planning and Promotion Department

Yoichiro Dendo

Deputy Director General of the Chuo Shinkansen Promotion Division andGeneral Manager in charge of the Planning and Promotion Department Kazuma Tsukamoto
Deputy Director General of the Chuo Shinkansen Promotion Division and Yoichi Inoue

Hiroshi Tahata

General Manager in charge of the Planning and Promotion Department●●●

Corporate Officers

Kei Sakanoue (Ph.D.)●●(Note) The above list does not represent all the expertise and experience of each respective Director.

71

Railway/
Safety●Toru Futamura

Deputy Director General of the Chuo Shinkansen Promotion Masafumi Kondo
Division, General Manager of the Civil Engineering Departmentof the Chuo Shinkansen Construction Department and General
Manager in charge of the Nagoya Construction Department
Akifumi Horaguchi

Dai Koyama

Deputy Director General of the Chuo Shinkansen Promotion Division, General
Manager of the Machinery Engineering Department of the Chuo Shinkansen
Construction Department, General Manager in charge of the Nagoya Takashi Sugiyama
Construction Department and in charge of controlling the Machinery Section●●●

Chika Takeda

General Manager of the Personnel Department
General Manager of the Finance Department
Director General of the Marketing Division
Deputy Director General of the Business Promotion Division
Deputy Director General of the Business Promotion Division
General Manager of the Construction Department
and General Manager of the Nagoya Construction
Department of the Chuo Shinkansen Construction
Department of the Chuo Shinkansen Promotion Division
Deputy Director General of the Construction Department
General Manager of the Transportation Safety Department
General Manager of the General Education Center
Deputy Director General of the Shinkansen
Operations Division and General Manager of theTransportation and Marketing Department
Deputy Director General of the Shinkansen
Operations Division and General Manager of theElectrical Engineering Department
General Manager of Hamamatsu Workshop of the
Shinkansen Operations Division

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

72

Governance*The Corporate Governance Report is available on our website.

https://company.jr-central.co.jp/company/esg/governance/_pdf/governance.pdf

Based on its policy to ensure the most appropriate system for executing theduties of the Company, JR Central has appointed five outside directors andthree outside Audit and Supervisory Board members. The level of independenceof each outside director and outside Audit and Supervisory Board member isjudged in accordance with the criteria for independence established by the
Tokyo Stock Exchange, Inc. in order to ensure that the opinions provided areformed from an independent standpoint and are based on the high degree ofexperience and insight accumulated outside the Company.
From their independent standpoints and based on the high degree ofexperience and insight accumulated outside the Company, JR Central receives
opinions from outside directors at the meetings of the Board of Directors
and the Personnel Remuneration Committee, and from outside Audit and●JR Central’s Corporate Governance System

Main concurrent posts held by outside directors andoutside Audit and Supervisory Board members
Name

Selects
AuditsAudit and Supervisory Board (Members)

Cooperates

Management Meeting

Reviews

Controls, Instructs

Audits

Subsidiaries, etc.

ReportsName

NGK Insulators, Ltd. Chairman and
Representative
Toho Gas Co., Ltd. Director
Aichi Employers’ Outside Director
Association
Chairman
Tokio Marine Holdings, Inc.

Tsuyoshi
NaganoChairmanSeiko Group Corporation Outside Director
FUJIFILM Holdings Outside Director
Corporation

INPEX CORPORATION

Haruo
KasamaTaku
OshimaHe attended all 13 meetings of the Board of Directors held in FY2022. At the Board of Directors’
meetings, he has stated his opinions based on his experience in corporate management andother expertise. He also attended the meetings of the Personnel Remuneration Committee andexpressed opinions based on his extensive experience and deep insight. In addition, throughvarious briefing opportunities prior to Board of Directors’meetings, he has provided valuableadvice on economic and social developments and overall business management. Through theabove-mentioned activities, he has contributed to the maintenance and further development of
the sound management of the Company from the standpoint of an independent outside director.

Tsuyoshi
NaganoHe attended all 11 meetings of the Board of Directors after his appointment on June 23, 2022. At
the Board of Directors’meetings, he has stated his opinions based on his experience in corporate
management and other expertise. He also attended the meetings of the Personnel Remuneration
Committee and expressed opinions based on his extensive experience and deep insight. In addition,
through various briefing opportunities prior to Board of Directors’meetings, he has provided
valuable advice on economic and social developments and overall business management. Throughthe above-mentioned activities, he has contributed to the maintenance and further development of
the sound management of the Company from the standpoint of an independent outside director.

AuditorHirokoKiba

Kunihiro
Nasu

Hyojito Co.,Ltd.

OutsideDirector

Principal activity
He attended all 13 meetings of the Board of Directors held in FY2022. At the Board of Directors’
meetings, he has stated his opinions based on his experience as a public prosecutor and lawyer
and other expertise. He also attended the meetings of the Personnel Remuneration Committee
and expressed opinions based on his extensive experience and deep insight. In addition, throughvarious briefing opportunities prior to Board of Directors’meetings, he has provided valuableadvice on economic and social developments and overall business management. Through theabove-mentioned activities, he has contributed to the maintenance and further development of
the sound management of the Company from the standpoint of an independent outside director.

External

Audit and Supervisory Board Member

Audit and Supervisory Board Member

Although we introduced the corporate officer system in May 2003,
we adopted an executive system in June 2012 that is aimed at further
accelerating decision-making and enhancing discussions by the Board of
Directors and at further clarifying the roles of directors and corporate officers,
who are responsible for business execution, in order to appropriately respondto changes in the business environment surrounding the Company in a timely
manner. Audit and Supervisory Board members not only attend important
meetings, such as the Board of Directors’meetings and the Management
Meeting, but also perform rigorous audits based on plans formulated by
the Audit and Supervisory Board through audits of head office departments,
railway operation divisions, branch offices, field offices, subsidiaries, etc., aswell as examination of the state of business execution by directors, corporate
officers and employees through exchanges of opinions with them. To ensure
effective audits by Audit and Supervisory Board members, JR Central also
provides an assistant system whereby its employees are assigned as full-time
staff to support the work of the Audit and Supervisory Board members.
Internal audits are performed by the Audit Department on the overall workof JR Central, its major subsidiaries, and other related companies from theperspective of compliance, efficiency and effectiveness of business operation.
The audits are performed by such methods as checking business materials,
contracts and other documents, observing operations, and interviewing
related persons, and the results are reported to management. In addition, inorder to prevent operational and labor accidents, safety audits are performedby the Transportation Safety Department, the results of which are also
reported to management.
JR Central receives appropriate accounting audits that are based on
generally accepted audit standards by Deloitte Touche Tohmatsu LLC, which
has been appointed as its accounting auditor.
Audit and Supervisory Board members, internal audit departments, andthe accounting auditor cooperate with each other by exchanging information
periodically or as needed, and they receive necessary information fromeach department involved in internal control to confirm the status of
implementation of each item stipulated in the Fundamental Corporate
Governance Policies.

External
Auditor

Taku
OshimaAuditsOverview of corporate governance system

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

[FY2022]

Title

Toppan Printing
Co., Ltd.

Kiba

73

Name of othercompany, etc.

Haruo
KasamaHirokoJR Central’s Board of Directors is composed of 13 directors (including fiveoutside directors, one of whom is female) and is chaired by the Company’s
Chairperson and Representative Director. JR Central also adopts an auditor
system, and its Audit and Supervisory Board consists of four members (threeof whom are outside auditors) (The figures are as of June 23, 2023).
The Board of Directors meets at least once a month, in principle, to makelegal and appropriate decisions upon fully discussing matters stipulated bylaw as well as important management matters. It also supervises the work of
directors. A Management Meeting is held for in-depth discussion of importantmanagement issues. Chaired the President and Representative Director,
the Management Meeting is attended by all full-time directors, Audit andSupervisory Board members, and some corporate officers. By deliberating on
a wider rage of management matters ahead of Board of Directors’meetings,
discussions at the subsequent Board of Directors’meetings are enhanced.
We request members of the Audit and Supervisory Board to attend
meetings of the Board of Directors, the Management Meeting and otherimportant meetings as we endeavor to ensure the legality of management
measures during the deliberation process. In addition to these initiatives, theeffectiveness of the entire Board of Directors is analyzed and evaluated basedon the self-assessment performed by each director and Audit and Supervisory
Board member. Based on these results, we discuss further enhancement of
the functions of the Board of Directors. Furthermore, JR Central strives toensure the appropriate execution of business by managing and providing
necessary management and guidance to subsidiaries, etc.
From the perspective of ensuring the enhancement of objectivity andtransparency in the determination of personnel changes, remuneration, etc.
of officers, JR Central established the Personnel Remuneration Committee(chaired by an outside director) consisting of a total of five members: four
independent outside directors and the President and Representative Director.
The Committee deliberates with the attendance of all of its members prior toresolutions at the Board of Directors meetings regarding personnel changes,
remuneration, etc. Resolutions made by the Board of Directors regarding thedetermination of personnel changes, remuneration, etc. are based on thecontent of deliberation by the Committee.

Activity status of outside directors
and outside Audit and Supervisory Board members

Director

Cooperates

Internal Audit (Audit Department, Transportation Safety Department)

Director

Audits

Accounting Auditor

Personnel Remuneration
Committee

Audits●Selects

Cooperates

Head oﬃce, branch oﬃces, ﬁeld oﬃces

Corporate Data

Supervisory Board members at meetings of the Board of Directors and the
Audit and Supervisory Board. In addition, through the various opportunities tocomment on our operations prior to Board of Directors’meetings, they provide
us with valuable advice on economic and social developments and overallbusiness management.
The advice given by outside directors and outside Audit and Supervisory Board
members is utilized to perform audits by Audit and Supervisory Board members,internal audits, safety audits, and accounting audits, as well as to implement each
item stipulated in the Fundamental Corporate Governance Policies.
Each outside director and outside Audit and Supervisory Board member isregistered with the Tokyo Stock Exchange and Nagoya Stock Exchange as anindependent officer with no risk of conflict of interest with general shareholders.

[As of March 31, 2023]

General Meeting of Shareholders
Selects

President and Representative Director

Creating "Social Value"
Governance

JR Central strives to enhance its corporate governance to ensure the soundness,
efficiency and transparency of its business management, thereby ensuring longterm development of the company and continuous enhancement of corporate
value. We have announced our stance on, and the initiatives put in place inrelation to, the Corporate Governance Code in the Corporate Governance Report.*

Board of Directors

Generating "Economic Value"

Outside Directors and Outside Audit and Supervisory Board Members

Creating“Social Value” ーCorporate Governanceー

Corporate
Governance

Highlight

Business Strategy

He attended all 11 meetings of the Board of Directors after his appointment on June 23, 2022. At the Board of
Directors’meetings, she has stated opinions based on her experience as a freelance news anchor, teaching staff
at a university, a member of the Council of Transport Policy and other expertise. She also attended the meetingsof the Personnel Remuneration Committee and expressed opinions based on her extensive experience andbroad-ranged insight. In addition, through various briefing opportunities prior to Board of Directors’meetings,
she has provided valuable advice on economic and social developments and overall business management.
Through the above-mentioned activities, he has contributed to the maintenance and further development of thesound management of the Company from the standpoint of an independent outside director.

HajimeIshizuHe attended all 13 meetings of the Board of Directors and all 14 meetings of the Audit and Supervisory
Board held in FY2022. At the Board of Directors’and the Audit and Supervisory Board meetings, he
has expressed opinions based on his experience in transportation administration and other expertise.

Fumio
Yamashita

He attended all 13 meetings of the Board of Directors and all 14 meetings of the Audit and Supervisory
Board held in FY2022. At the Board of Directors’and the Audit and Supervisory Board meetings, he
has expressed opinions based on his experience in police administration and other expertise.

ShigeoKifujiHe attended all 13 meetings of the Board of Directors and all 14 meetings of the Audit and Supervisory
Board held in FY2022. At the Board of Directors’and the Audit and Supervisory Board meetings, he hasstated his opinions based on his experience as a public prosecutor and lawyer and other expertise.

Kunihiro
Nasu

He attended all 13 meetings of the Board of Directors and all 14 meetings of the Audit andSupervisory Board held in FY2022. At the Board of Directors’and the Audit and Supervisory Board
meetings, he has stated his opinions based on his experience as a lawyer and other expertise.

Ensuring the effectiveness of the Board of Directors and the Audit and Supervisory Board
The appointment of directors is conferred to General Shareholders Meetings
following a resolution of the Board of Directors concerning the appropriate
election of candidates deemed to be the most fitting for the role as selectedbased upon a general consideration of their abilities, knowledge, work
history, etc., irrespective of age, sex or nationality. The number of directors
elected, the division of their’roles are determined based on a comprehensive
consideration of the progress of ongoing projects in accordance with a policyof establishing the most appropriate system for the execution of the Company’s operations. From the perspective of ensuring the enhancement of objectivity
and transparency in the determination of personnel changes, etc. of officers,
JR Central established the Personnel Remuneration Committee (chaired by anoutside director) consisting of a total of five members: four independent outside
directors and the President and Representative Director. The Committee
deliberates with the attendance of all of its members prior to resolutions at
the Board of Directors meetings regarding personnel changes, etc. Resolutions
made by the Board of Directors regarding the determination of personnel
changes, etc. are based on the content of deliberation by the Committee.
The important concurrent positions held by directors and Audit andSupervisory Board members are as stated in the business reports and General
Shareholders Meeting Reference Materials. None of the concurrently held
positions hinder the directors’or Audit and Supervisory Board members’ability tofulfill the roles and responsibilities of such positions for the Company.
The Board of Directors meets at least once a month in principle, to makelegal and appropriate decisions upon fully deliberating matters stipulated bylaw as well as important management matters. It also appropriately supervises
the work of directors by holding discussions based on reports on businessexecution from the directors in charge of each operation. JR Central receives
valuable broad-view advice on management from outside directors, which istaken into consideration in regulating the management of the Company.
In addition, the Company analyzes and evaluates the effectiveness of theentire Board of Directors based on self-evaluation by each director and Audit andSupervisory Board member, and based on the results, the Company continues tomake efforts to further enhance the functions of the Board of Directors, such as
periodically reporting to the Board of Directors important matters in executing
the business of the Company, including the implementation state of internal
audits and the occurrence of train and labor accidents. Additionally, in order tofurther improve the effectiveness of the Board of Directors, the Company holds
conferences for opinion exchanges between outside directors and membersof the management concerning general issues of business management, andmeetings of outside directors exclusively consisting of outside directors.
Based on the above, the Board of Directors finds that the effectiveness ofthe entire Board of Directors is sufficiently ensured.
CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

74

Business Strategy

Highlight

Generating "Economic Value"

Creating "Social Value"

Corporate Data

GovernanceCorporate Governance

Remuneration for officers
Directors’remuneration consists of fixed basic compensation paid on amonthly basis and a bonus paid in June each year. The basic compensation
amount is determined based on a comprehensive assessment of adirector’s position, length of service and other factors, while the bonus
amount is determined by mainly taking into consideration the businessperformance, including ordinary income, as well as shareholder return andother factors. The specific bonus amount for each individual is determinedin consideration of the degree of responsibility assigned to the director’s position, performance in ensuring safety, and performance of assigned
duties. The ratio of the basic compensation to bonus we use as a guide is
3 to 1. The operating performance for FY2022 and other fiscal years are as
described in the financial data on pages 31 to 34.
Outside directors’remuneration consists only of the fixed basic
compensation paid on a monthly basis.
The Board of Directors makes resolutions regarding the policy for
determining remuneration, etc. for these directors, and the determinationof specific amounts of remuneration, etc. for each individual is left to
the President and Representative Director who has knowledge of theperformance of duties assigned to each director. At the 25th Ordinary
General Meeting of Shareholders held on June 22, 2012, it was resolvedthat the total amount of remuneration for directors would be no more than
1.2 billion yen per year (of which the amount for outside directors would
be no more than 50 million yen per year). At the 35th Ordinary General
Meeting of Shareholders held on June 23, 2022, it was resolved that the
total amount of remuneration for outside directors would be no more than
100 million yen per year, and the President and Representative Director
decides the actual amounts within the range of this limit. The numberof directors at the conclusion of the 25th Ordinary General Meeting of
Shareholders held on June 22, 2012 was 14 (including three outside
directors). The number of directors at the conclusion of the 35th Ordinary
General Meeting of Shareholders held on June 23, 2022 was 12 (including
four outside directors).
The remuneration for Audit and Supervisory Board members consists
only of basic compensation, which is paid in a fixed amount every month,and the appropriate amount is determined through consultation among

M ain ac ti vi ti es (FY 20 2 2 )the Audit and Supervisory Board members. At the 20th Ordinary General
Meeting of Shareholders held on June 22, 2007, it was resolved that the
total amount of remuneration for Audit and Supervisory Board members
would be not more than 250 million yen per year, and the actual amount isdecided within the range of this limit. The number of Audit and Supervisory
Board members at the conclusion of the relevant Ordinary General Meetingof Shareholders was five.
From the perspective of ensuring the enhancement of objectivity andtransparency in the determination of remuneration, etc. for officers, JR
Central established the Personnel Remuneration Committee (chaired by anoutside director) consisting of a total of five members: four independent
outside directors and the president and representative director. The
Committee deliberates with the attendance of all of its members prior toresolutions at the Board of Directors’meetings regarding remuneration,etc. for officers. Resolutions regarding the policy for determining
remuneration, etc. at the Board of Directors’meetings are made based on
the deliberations of the Committee. Delegated by the Board of Directors,
the President and Representative Director decides the specific amountsof directors’remuneration. Since the amount of remuneration for eachdirector is determined through the above-mentioned procedures, the Boardof Directors deems that the amounts conform with the decision policy.
Total amount of remuneration by officer category, total amount of
remuneration by type, and number of eligible officers [FY2022]
Category

Director(excluding outside director)

Audit and Supervisory
Board member(excluding outside Audit andSupervisory Board member)

Outside officer

Basic compensation
Bonus
NumberNumberTotal
Total
of eligible amount of eligible amount(million yen)(million yen)officers
officers

Totalamount(million yen)

13

424

8

152

576

1

47

-

-

47

9

153

-

-

153

Note: Directors (excluding outside directors) and the Audit and Supervisory Board members(excluding part-time Audit and Supervisory Board members) have voluntarily returned 10% of theirbasic compensation from April 2022 to September 2022. The total amount of basic compensation
indicated in the table above includes the amount of compensation voluntarily returned.

Policy concerning cross-shareholdings
Our strategy for cross-shareholdings is based on a general considerationof the necessity thereof and is grounded in the belief that maintaining
and bolstering long-term and stable business relationships throughholding other companies’stock facilitate our operations and enhance
our corporate value over the medium to long term. If any of our crossshareholdings are deemed to be unnecessary in light of this policy, we
assess and divest from them.
Furthermore, our Board of Directors examines whether it is beneficial

to retain specific cross-shareholdings after scrutinizing them in light of themedium- to long-term economic rationale and future outlook, the purposeof continuing to own such cross-shareholdings, and other factors.
Moreover, in exercising the voting rights of cross-held shares, we
carefully examine the details of each agenda item and decide whether
to approve or disapprove, taking into consideration the improvement ofour corporate value over the medium to long term, and the sustainablegrowth of our business partners, etc.

Policy for promoting constructive dialogue with shareholders
JR Central positions the General Meeting of Shareholders as an important
opportunity for dialogue with shareholders and strives to improve the qualityof question-and-answer sessions in the meeting as a means of contributing
to sustainable growth and enhancing corporate value over the medium tolong term. Dialogue with shareholders in general is overseen by the General
Manager of the Administration Department, and questions, opinions andrequests from shareholders are responded to, to the extent reasonable, inthe form of an individual meeting or over the telephone, etc.
Of this, dialogue with institutional investors is overseen by the Director
General of the Corporate Planning Division, and the IR manager assigned to
the Business Administration Department of the Corporate Planning Division
is in charge of dialogue response. The Administration Department is mainly
in charge of dialogue (SR) with the voting rights managers of institutional
investors, with whom there is a commitment for constructive dialogue on an
individual basis. The IR team strives to further improve shareholder dialogue
by organically coordinating with related departments. It also strives toimprove dialogue measures by not only holding individual meetings but also75

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

implementing online meetings and facility tours, etc., where necessary, in
addition to holding quarterly financial briefings. Dialogue response is made,to the extent reasonable, together with senior management and directors or
Audit and Supervisory Board members, based on a general consideration of
the requests and interests put forth by the institutional investor.
We also focus on enriching provision of information to shareholders
by posting the information presented at financial briefings on TDnet andour website, and enhancing the content of the convocation notice of theGeneral Meetings of Shareholders. Furthermore, we work to ensure thatsufficient information concerning decisions made on important measures andimportant capital investments reaches as large a number of stakeholders
as possible, using the mass media to deliver detailed information at regularpress conferences held by the President and by presenting such information
to the press.
The content of dialogue with shareholders is reported to senior
management and, if necessary, feedback is provided to the Board of
Directors.

Based on the above-mentioned policy, we engaged in dialogue
with a wide range of domestic and overseas institutional investors towhom the Company’s management team and IR/SR staff responded,
regardless of the investment method of the institutional investor or
the field of responsibility of the person in charge, based on themes
such as our business content and specific initiatives related to ESG.
In addition to providing management with feedback on the content
of the dialogue, we also conduct surveys of institutional investors
after individual interviews and financial briefings. Upon analyzing the
feedback obtained and the needs of institutional investors, we work

to further enhance corporate governance and future dialogue byenriching disclosure and using the information for reconsidering thecontent of briefing materials.
- Number of dialogues held with institutional investors
and analysts:

205- Number of financial briefings and small meetings withinstitutional investors and analysts:

5- Number of items of feedback from institutional investors:

135

Fundamental Corporate Governance Policies
JR Central passed a resolution on the Fundamental Corporate Governance Policies* at its Board of Directors’meeting.
*Please refer to the following URL for the Fundamental Corporate Governance Policies.

URL

https://company.jr-central.co.jp/company/about/governance.html

Compliance & whistleblowing system
JR Central not only stipulates internal regulations based on laws
and other regulations but also conducts employee education onvarious occasions with the aim of thoroughly complying with laws andregulations when executing business. In addition, we have established
an internal reporting system that allows employees to report any
violations of laws and regulations during business operations,providing contact points both internally and externally. We makethorough efforts to protect whistleblowers by stipulating in the internal
regulations the non-disclosure of the whistleblower’s name, eliminationof any disadvantages caused by reporting, and allowing anonymous
whistleblowing, and to ensure that the system is disseminated througheducational opportunities available to all employees.

Risk management system
From the perspective of preventing railway operation accidents,
labor accidents, and disasters, JR Central has established the“Railway
Safety Promotion Committee,”etc. at the head office, the Shinkansen
and Conventional Lines Operations Divisions, branch offices and ineach area, establishing and promoting an integrated system for safetymeasures from the head office to field organizations.
We also manage a control center to respond to emergencies,
such as an accident or disaster, which plays a key role in information

communication, on call 24 hours a day in the Shinkansen and theConventional Lines Operations Divisions, establishing a fast-response
restoration system in which employees can be gathered at any
time according to the scale or impact of an accident or disaster.
Additionally, in preparation for emergencies, such as large-scaledisasters, we have established the Second General Control Centerfor the Tokaido Shinkansen, which has an alternative function to theGeneral Command Center.

Response to internal control related to financial reporting
Regarding internal control related to financial reporting, we periodicallyinvestigate the system and state of execution, etc. in accordance withthe basic framework established by the Business Accounting Council,

and confirm that internal control is effectively functioning. We also work
to maintain the level of internal control related to financial reporting by
providing feedback from the investigation to our operations.

Capital policy and approach to shareholder return
We will finance our projects by issuing corporate bonds andborrowing, in addition to a long-term loan totaling 3 trillion yen
acquired using the Fiscal Investment and Loan Program (FILP) to
promote the construction of the Chuo Shinkansen. We do not plan to
use treasury stock or pursue a capital increase at this point.
Given the nature of the railway business, which is managed froma long-term perspective, the specific dividend amount is determinedconsidering the business environment and operating results of eachfiscal year based on the Company’s consistent and basic policy
for the continuation of stable dividends. Regarding treasury stock,
we basically believe that shareholder returns through dividends
are appropriate, and at present, we have no plans to repurchaseadditional shares. It should be noted that when we say“from a longterm perspective,”we mean that we will not cut corners in taking
the necessary steps to ensure that our rail services continue tooperate steadily over the long term. For example, we will undertakesuch measures as large-scale renovations as well as derailment anddeviation countermeasures for the Shinkansen, along with working on
the Chuo Shinkansen, a large-scale long-term project. In order to gain
shareholder’s understanding toward the above approach, we believethat a basic policy of continuing stable dividends is necessary. Goingforward, we will maintain this principle of stable dividends during theconstruction of the Chuo Shinkansen.

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

76

Business Strategy

Further, The reasons for not implementing the principlesof the code and matters disclosed based on each principleof the code are as follows.
* Corporate Governance Report can be found on the Japan Exchange Group, Inc. website.

Principle 4-1
Roles and
responsibilities of theBoard of Directors (1)Supplementary
principle• Although we do not formulate such medium-term management plans and pursue numericaltargets, we have engaged in the railway business from a long-term perspective. Specifically,
long-term capital investments such as the ongoing construction of the Chuo Shinkansen andlarge-scale renovation works, anti-earthquake measures and rolling stock update plans for
the Tokaido Shinkansen are decided from a long-term perspective and implemented steadily.
Other major initiatives are also being promoted steadily, with plans and results announced
as appropriate. We announce our annual earnings plan, priority measures and capital
investment plan in light of the current management environment and continue to reinforce
our management base steadily to maintain sound management through efficient business
operation, based on the premise of ensuring safe and reliable transportation.

Principle 5-2
Establishing and Disclosing
Business Strategies andBusiness Plans

Di s cl os ur e b ased on Cor po r a t e G o v e r n a n c e C o d e p r i n ci p le s
General principle

Supplementary
principle

Disclosed contents[1] Policy concerning cross-shareholdings
Our strategy for cross-shareholdings is based on a general consideration of the necessity
thereof and is grounded in the belief that maintaining and bolstering long-term and stablebusiness relationships through holding other companies’stock facilitate our operations andenhance our corporate value over the medium to long term. If any of our cross-shareholdings
are deemed to be unnecessary in light of this policy, we assess and divest from them.

Principle 1-4
Cross-shareholdings

URL

General Employer Action Plans in Accordance with the Act for Measures to Support theDevelopment of the Next Generation
URL

2-4

Principle 2-6
Roles of Corporate Pension
Funds as Asset Owners

Related party transactions

JR Central believes that it is extremely important for management to employ diverse humanresources and maximize their abilities for sustainable corporate growth. Based on this belief, sex,
nationality, etc. are not considered in recruiting employees.
Upon amendment of the Labor Standards Act, which prohibited late-night work by women in
principle, in 1997, we started recruiting female employees in a large scale. Since then, the Company
has appropriately evaluated aptitudes and abilities of employees without distinction between men andwomen and promoted them to appropriate positions based on the evaluation. As a result, the number
Principle
Supplementaryof female employees as of the end of FY2022 was 2,325 (including 136 in management positions).
principle
Ensuring internal diversity
A female employee was appointed as a Corporate Officer in June 2021 and another female wasincluding the utilization of
appointed as a Director in June 2022 for the first time in the Company’s history. Female employees
2-4 1
are active in many fields, including as Department General Managers and Section Managers.
women
To further promote women’s empowerment, the Women’s Empowerment Project team has beenin place since FY2020 directly under the General Manager of the Personnel Department. To improve
the quality of human resources, it is necessary to create a company where all employees, regardlessof gender, can feel motivated and fully exercise their abilities. Especially as a railway company, toprovide services that satisfy diverse customers, JR Central believes that it is important to allow diverse
employees to share ideas and exercise their abilities to the fullest regardless of their gender.

2-4

77

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

This principle does not apply to the Company since it does not adopt a defined benefit pension plan.
The Company adopts a defined contribution pension plan. Since management of said plan affects theasset formation of employees enrolled in the plan, the Company provides appropriate education on
asset management.
[1]• The Company was established as part of the reform of Japanese National Railways(JNR) in 1987 with the mission of maintaining and developing the Tokaido Shinkansen,
Japan’
s main transportation artery linking Tokyo, Nagoya and Osaka, and the network of
conventional lines in the Tokai area centered on Nagoya and Shizuoka in an integrated
manner into the future. We have also established a management philosophy of“contributing
to the development of Japan’s main transportation artery and social infrastructure”as the
direction to aim for as our business is set to expand in the future such as by operating
three generations of railways: conventional lines, the Tokaido Shinkansen, and the Chuo
Shinkansen. This management philsophy can be found on our website.

[2] Assessmant of cross-shareholdings
Our Board of Directors examines whether it is beneficial to retain specific crossshareholdings after scrutinizing them in light of the medium- to long-term economic rationale
and future outlook, the purpose of continuing to own such cross-shareholdings, and otherfactors.

Transactions by directors that would constitute competition with the Company or transactions
between directors and the Company require the approval of and reporting to the Board of
Directors in accordance with laws and regulations and the Rules of the Board of Directors.
The existence of related party transactions between directors and their close relatives and theCompany is checked with the directors on a regular basis each year.

https://company.jr-central.co.jp/others/action_plan/_pdf/nurturing.pdf

At the same time, JR Central has been working to establish an environment in which employees
can feel motivated and fulfilled in their work and play active roles for a long time and to improve
Principle
Supplementary
their working conditions. For example, we have established a childcare leave period thatprinciple
Ensuring internal diversity
exceeds the statutory period, a system to allow flexible work arrangements, a re-employment
including the utilization ofsystem for employees who quit due to childcare, etc., and a system to treat employees as
2-4 1
women
having worked during their period of childcare leave in qualification for taking promotion exams.
Various subsidy programs have also been established. Going forward, in order for all employees,
regardless of gender, to be motivated to work with enthusiasm in active roles over many years,
JR Central will make further efforts to enhance various programs.
Details of our human resource initiatives, including ensuring diversity, are provided in“Initiatives
for Human Resources to Support JR Central’s Sustainable Growth”of the Integrated Report. So
please refer to the URL below.
Integrated Report:https://global.jr-central.co.jp/en/company/ir/annualreport/index.html
JR Central has worked to secure human resources with the necessary skills and aptitudes to support
its future business, regardless of nationality, etc. Therefore, we do not see ourselves in a position to
set specific measures or targets regarding promotion of foreigners to managerial positions.
Since most of the railway skills are improved to higher levels only through accumulation ofexperience, for which long-term employment is useful, we do not conduct large-scale midcareer recruitment. Therefore, we are not in a position at this moment to set measures or targets
regarding promotion of mid-career hires to managerial positions. However, if the need arises forvarious measures due to changes in the business environment surrounding our company, we willconsider the matter depending on the situation at that point.

[3] Criteria for exercising voting rights
In exercising the voting rights of cross-held shares, we carefully examine the details of eachagenda item and decide whether to approve or disapprove, taking into consideration the
improvement of our corporate value over the medium to long term, and the sustainablegrowth of our business partners, etc.

Principle 1-7

Corporate Data

Positive Action Plan for Promoting Women’s Empowerment
https://company.jr-central.co.jp/others/action_plan/_pdf/woman.pdf

Disclosed contents• In the railway business, which is our core business, the most important issue is to ensure
safe and reliable transportation. Hence, our daily business, employee training, and capital
Supplementary
investment are conducted with the highest priority on ensuring safe and reliable transportation.
Therefore, we do not adopt a method of formulating a medium-term management plan
principle
covering our entire business and seeking to achieve management targets for a cross section of
4-1 2
our business as of the end of the plan.

Creating "Social Value"

Based on this belief, after repeated discussions, the Women’s Empowerment Project hasestablished the“positive action plan for promoting women’s empowerment”and the“General
Employer Action Plan based on the Act on Advancement of Measures to Support Raising NextGeneration Children.”The positive action plan shows numerical targets for the period fromFY2021 to FY2025, such as raising the hiring rate of women to 25% or more and increasing thenumber of female managers (those in positions of Assistant Manager and Supervisor levels or
higher) to 1.5 times that of the end of FY2020 level, and efforts are being made to achieve them.
For details of the numerical targets and the human resource development initiatives based on
the targets, please see below.

T h e r eas ons f or no t i m pl eme n t in g t h e p r in c i p l e s o f t h e C o d eGeneral principle

Generating "Economic Value"

Governance

Excerpt of Corporate Governance Report (as of November 8 , 2023)
JR Central has announced its stance on, and the initiatives
it has put in place, in relation to the Corporate Governance
Code (hereafter,“the Code”) found within Corporate
Governance Report*.

Highlight

URL

https://global.jr-central.co.jp/en/company/about/outline.html• JR Central’s basic policy is to continue to fulfill its aforementioned social mission stably
and sufficiently over the long term by continually working to provide services that will bechosen by customers and improving business efficiency, with ensuring safe and reliabletransportation as its top priority. This basic policy is described in the“Business Strategy”
section of our Integrated Report , which can be found at the following link.

Principle 3-1
Full disclosure

Integrated Reporthttps://global.jr-central.co.jp/en/company/ir/annualreport/

URL• The specific measures to be implemented this fiscal year based on this basic policy aredescribed in“Key Measures and Capital Investment,”which can be found at the following link.
Key Measures and Capital Investment
https://global.jr-central.co.jp/en/company/ir/capital-investment/

URL[2] Our basic approach to corporate governance is described in“I 1. Basic Approach”of this report.
[3] Our policies and procedures in determining the remuneration of directors are describedin the“Disclosure of policy for determining the remuneration amount and its calculation
method”section of“II 1. Organizational Composition and Operation”of this report.
[4] The appointment of directors and Audit and Supervisory Board members is conferredto General Meetings of Shareholders following a resolution of the Board of Directors
concerning the appropriate election of candidates deemed to be the most fitting for therole as selected based upon a general consideration of their abilities, knowledge, work
history, etc., irrespective of age, sex or nationality, based on a policy of ensuring the mostappropriate system for conducting the Company’s business. The appointment and dismissalof representative directors are carried out from the same perspective as the above inaccordance with laws and regulations and the Rules of the Board of Directors.
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Business Strategy

Highlight

Generating "Economic Value"

Creating "Social Value"

Corporate Data

Governance

From the perspective of ensuring the enhancement of objectivity and transparency in thedetermination of personnel changes, etc., of officers, JR Central established the Personnel
Remuneration Committee consisting of a total of five members: four independent outside
directors and the President and Representative Director. The Committee deliberates with theattendance of all of its members prior to resolutions at Board of Directors meetings regarding
personnel changes, etc.
Resolutions made by the Board of Directors regarding the determination of personnel
changes, etc., are based on the content of deliberation by the Committee.
[5] Candidates for director and Audit and Supervisory Board member are elected appropriately
in light of their work history, etc., described in the General Shareholders Meeting
Reference Materials.The Company makes the necessary disclosures concerning changes in
representative directors in accordance with the criteria for timely disclosure established by
the Tokyo Stock Ex change, Inc.
[1] Initiatives on sustainability
Our specific initiatives on sustainability are described in the following sections, subsections and other parts of the Integrated Report as well as in our Securities Report:“Positive
Cycle of‘ESG Management’,”“JR Central’s‘ESG Management’,”“Building safe and resilient
infrastructure,”“Building Relationships with Material Suppliers,”“Improving the Convenienceof Facilities (Use of Barrier-Free Designs, Etc.),”“Cooperation with Local Communities,”“Contribution to Global Environment Preservation.”

Principle 3-1

The directors’skills are disclosed in the form of a Skills Matrix.
To achieve our management philosophy of“contributing to the development of Japan’sSupplementary main transportation artery and social infrastructure”at a higher level, the skills consist of thefollowing seven, which are useful for fulfilling directors’roles of determining business execution
principle
and supervising directors’execution of duties, in light of the nature of our business: corporate
4-11 1 management, business strategy; governance, compliance; personnel, education, labor affairs;
finance, accounting; technological development, environment; railway safety; and community
relations, international aspects.

Principle 4-11
Premises for ensuring
the effectiveness of
the Board of Directors
and the Audit andSupervisory Board[2] Investments in human capital and intellectual property
Investments in human capital and intellectual property are described in“Initiatives for humanresources to support JR Central’s sustainable growth”and“Promotion of Technological
Development”of our Integrated Report.

Full disclosure

Supplementary [3] Climate change-related risks and opportunities
Regarding climate change, JR Central and the JR Central Group are working to reduce
principle

3-1 3

CO2 emissions further, aiming to achieve net zero emissions in 2050 based on theJapanese government’s 2050 carbon-neutrality policy, as well as reduce emissions
by 46% in FY2030 compared to FY2013 levels. We have also expressed our supportof the TCFD recommendations in May 2021 and will analyze climate change-relatedrisks and opportunities to support stable business operations over the long term while
contributing to the realization of a sustainable society. For further details, see“JR Central’s‘ESG Management’”and“Targets toward carbon neutrality and initiatives for the TCFD’srecommendations.”
Our Integrated Report can be found at the following link.

Principle 4-14
Director and Audit andSupervisory training

The Integrated Report can be found at the following
https://global.jr-central.co.jp/en/company/ir/annualreport/

URL

Our approach to global environment conservation can be found at the following
https://global.jr-central.co.jp/en/company/environment/

URL

Principle 4-1
Roles and responsibilitiesof the Board of Directors(1)

Principle 4-9
Independence standards
and qualification for
Independent Directors

Principle 4-10
Utilization of arbitrary
mechanism

Principle 4-11
Premises for ensuring
the effectiveness of
the Board of Directors
and the Audit andSupervisory Board

79

The Board of Directors makes decisions on matters stipulated in laws and regulations andthe Articles of Incorporation, matters delegated by the General Meeting of Shareholders, andSupplementary important matters concerning business execution. The specific matters are set forth in the Rulesof the Board of Directors.
principle
Furthermore, the Board of Directors designates the division of duties among directors and4-1 1
the responsibilities of corporate officers. It also defines the matters under the control of thedepartments and the authority of the departments according to the internal rules to clarify thescope of delegation to directors and corporate officers.
The level of independence of each outside director and outside Audit and Supervisory Board
member is judged in accordance with the criteria for independence established by the Tokyo
Stock Exchange in order to ensure that the opinions provided are formed from an independent
standpoint and are based on the high degree of experience and insight accumulated outside theCompany.
From the perspective of ensuring the enhancement of objectivity and transparency in thedetermination of personnel changes, remuneration, etc., of officers, the Company has establishedthe Personnel Remuneration Committee consisting of a total of five members: four independent
outside directors (Haruo Kasama, Taku Oshima, Tsuyoshi Nagano, Hiroko Kiba) and the President
Supplementary
and Representative Director (Shunsuke Niwa). The Committee deliberates with the attendance
principleof all of its members prior to resolutions at Board of Directors meetings regarding personnel
4-10 1 changes and remuneration, etc. Independent outside directors provide opinions based on theirexperience as corporate managers, public prosecutor and lawyer. Resolutions made by the
Board of Directors regarding the determination of personnel changes, remuneration, etc., arebased on the content of deliberation by the Committee. The secretariat is established in the
Secretarial Department.
The appointment of directors is conferred to General Meetings of Shareholders following a
resolution of the Board of Directors concerning the appropriate election of candidates deemed
to be the most fitting for the role as selected based upon a general consideration of theirabilities, knowledge, work history, etc., irrespective of age, sex or nationality. The number of
directors and the division of their roles are determined based upon a general consideration of
Supplementary the progress of ongoing projects under a policy of establishing the most appropriate system for
conducting the Company’s business.
principle
From the perspective of ensuring the enhancement of objectivity and transparency in the
4-11 1 determination of personnel changes, etc., of officers, the Company has established the Personnel
Remuneration Committee consisting of a total of five members: four independent outside
directors and the President and Representative Director. The Committee deliberates with theattendance of all of its members prior to resolutions at Board of Directors meetings regarding
personnel changes, etc. Resolutions made by the Board of Directors regarding the determinationof personnel changes, etc., are based on the content of deliberation by the Committee.

CENTRAL JAPAN RAILWAY COMPANY Integrated Report 2023

Principle 5-1
Policy for constructive
dialog with shareholders

Supplementary Important concurrent positions held by directors and Audit and Supervisory Board members
are as stated in the business reports and General Shareholders Meeting Reference Materials.
principle

4-11 2

None of the concurrently held positions hinder the directors’or Audit and Supervisory Board
members’ability to fulfill the roles and responsibilities of such positions for the Company.

The Company’s Board of Directors meets at least once a month, in principle, to make decisions
on not only legally required matters but also important management manners in a lawful andappropriate manner after providing thorough explanation of the purpose and progress ofmeasures and discussing them fully. The status of directors’execution of duties is also reported
as necessary by the director in charge of each duty and is supervised appropriately. Outside
directors provide effective advice on management from a higher perspective and bring discipline
Supplementary to management.
The Board of Directors analyzes and evaluates the effectiveness of the entire Board based onprinciple
self-evaluation by each director and Audit and Supervisory Board member. Based on the results
4-11 3 of the analyses and evaluations, the Company works to further enhance the functions of theBoard. Additionally, in order to improve the effectiveness of the Board of Directors, roundtablediscussions are held between outside directors and members of management to exchange
opinions on general management issues, and outside director meetings consisting solely ofoutside directors are conducted.
Based on the above, the Board of Directors finds that the effectiveness of the entire Board of
Directors is sufficiently ensured.
The Company’s directors and Audit and Supervisory Board members not only possess
sufficient ability and insight to fulfill their roles and responsibilities but also carry out their duties
responsibly while striving voluntarily to improve their expertise through efforts such as actively
Supplementary
participating in external training programs to fulfill the mandate given by shareholders.
principle
Necessary measures are taken to ensure that the directors and Audit and Supervisory4-14 2 Board members appropriately fulfill their responsibilities, such as notifying the details of any
amendments in relevant laws and regulations at meetings and providing training opportunities
to share the Company’s management issues to enable the Company to make appropriate
decisions.
[1] Policy and promotion structure for dialogue
The Company has established the following Policy for Promoting Constructive Dialogue with
Shareholders.
• The Company positions General Meetings of Shareholders as an important opportunity
for dialogue with shareholders and strives to enhance question and answer sessions inorder to contribute to sustainable growth and an increase in corporate value over the
medium to long term. Dialogue with shareholders in general is overseen by the head of
the Administration Department, and shareholders’questions, opinions and requests are
addressed in individual meetings and phone calls to the extent reasonable.
• Dialogue with institutional investors is overseen by the Director General of the Corporate
Planning Division, with the IR staff assigned to the Supervision Department of the Corporate
Planning Division responsible for dialogue. The Administration Department is mainly incharge of dialogue (SR) with the voting rights managers of institutional investors. All the
relevant personnel are committed to constructive dialogue. We strive to enhance thecontent of dialogue by collaborating organically with different departments of the Company.
Furthermore, in addition to individual meetings, we have been enhancing our means of
dialogue by holding quarterly results presentations, online conferences, facility tours, andother events as needed. Upon engaging in dialogue, the wishes and interests of institutional
investors are taken into consideration comprehensively and are addressed to the extent
reasonable, including by senior management, directors, and Audit and Supervisory Board
members.
• In addition to releasing information on results presentations on TDnet and the Company’swebsite, we strive to enhance the provision of information to shareholders through efforts
such as increasing the contents of convocation notices of General Meetings of Shareholders.
We also strive to ensure that sufficient information is widely available to more stakeholders
through the mass media by disclosing information on important measures and important
capital investment decisions in detail through the President’s regular press conferences andpress releases.
• The content of dialogue with shareholders is reported to senior management and, if
necessary, feedback is provided to the Board of Directors.
• No insider information is communicated in our dialogue with shareholders. We have set
the period beginning 14 days prior to the quarterly results announcement date as a“quiet
period”when we refrain from dialogue concerning results information.
[2] Track record
Based on the above-mentioned policy, we engaged in dialogue with a wide range ofdomestic and overseas institutional investors to whom our management team and IR/SR staff
responded, regardless of the investment method of the institutional investor or the field ofresponsibility of the person in charge, based on themes such as our business content andspecific initiatives related to ESG.
In addition to providing management with feedback on the content of the dialogue, we
also conduct questionnaire surveys of institutional investors after individual meetings andresults presentations. Upon analyzing the feedback obtained and the needs of institutional
investors, we work to further enhance corporate governance and future dialogue by enriching
disclosure and using the information for reconsidering the content of presentation materials.
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Business Strategy

Highlight

Generating "Economic Value"

Corporate Data

Creating "Social Value"

Co rpo rate D ata▶

Company Profile▶

Name

CENTRAL JAPAN RAILWAY COMPANY (JR Central)
Central Japan Railway Company (JR Central)

Established 1-Apr-87
Business activities Railways business and related businesses
Key data

JR Central Shinagawa Building A Wing, 2-1-85 Konan,
Minato-ku, Tokyo 108-8204, Japan

Conventional Lines JR Central Taiko Building, 1-3-4 Meieki, Nakamura-ku,
Operations Division Nagoya-shi, Aichi 453-8520, Japan(As of the end of March 2023)(Yen)

28,0002,600,000

26,000112.0 billion yen
1,143.3 billion yen

Shizuoka Branch
Office4 Kurogane-cho, Aoi-ku, Shizuoka-shi, Shizuoka 420-0851,
Japan

206 million

Mie Regional Office

Ust-Tsu 12F, 700 Hadokoro-cho, Tsu-shi, Mie 514-0009,
Japan

2,400,000

24,0005356 Kami-lida, lida-shi, Nagano 395-0000, Japan

2,200,000

22,000

Nagoya and Tokyo Stock Exchanges

Number of shareholders

125,589lida Regional Office

Number of employees

18,727

Operating kilometers

1,970.8km

Marunouchi Chuo Building, 1-9-1 Marunouchi, Chiyoda-ku,
Shinkansen
Operations Division Tokyo 100-0005, Japan

Number of stations

405

Number of rolling stock

4,879

Double- and multi-tracked sections

55.1%（1,086.8km）

Electrified sections

76.7%（1,511.0km）

CTC system adoption rate

97.5%（1,922.3km）

Automatic signaling
system adoption rate

97.8%（1,927.3km）

2,000,000

20,000Kansai Branch
OfficeShin-Osaka Hankyu Building 10-11F, 1-1-1 Miyahara,
Yodogawa-ku, Osaka-shi, Osaka 532-0003, Japan

1,800,000

18,000

Washington D.C.
Office805 15th Street, N.W., Suite 810, Washington,
DC 20005, U.S.A.

1,600,000

16,000London Office

6th Floor, 4 Eastcheap, London, EC3M 1AE, U.K.

Sydney Office

Suite 5.01A, Level5, 20 Hunter Street, Sydney,
NSW 2000, Australia

1,400,000

14,0001,200,000

12,0001,000,000

10,000800,000

8,000

600,000

6,000

Organization Chart
Board of Directors
ChairmanPresident

Secretarial Department
Corporate Planning Division

Supervision Department

General Technology Division

Transportation and Marketing Department
Conventional Lines Operations Division

Chuo Shinkansen Promotion Division

Rolling Stock Department

Audit Department

Tracks and Structures Department

Public Relations Department

Electrical Engineering Department

Administration Department

Planning Department

Property Management Department
Audit and Supervisory Board* Stated range of highs and lows for each month.
Note: On October 1, 2012, the Company implemented a 100-for-1 stock split for its ordinary stock and employed a share unit system by which one share unit equals 100 shares.
Also, effective October 1, 2023, the Company executed a 5-for-1 stock split for its ordinary stock.

lida Regional Oﬃce

Finance Department

Supervision Department

Marketing Division

Major shareholders

Transportation and Marketing Department

Shinkansen Operations Division

Business Promotion Division

Rolling Stock Department

Construction Department

Name

Tracks and Structures Department

Transportation Safety Department

Electrical Engineering Department

The Master Trust Bank of Japan, Ltd. (Trust Account)

23,378,700

11.87%

12,317,400

6.25%

Nagoya Central HospitalMizuho Bank, Ltd.

7,832,300

3.98%

The Nomura Trust and Banking Co., Ltd. (Holder in Retirement Benefit Trust for MUFJ Bank, Ltd.)

7,125,000

3.62%

MUFJ Bank, Ltd.

5,478,100

2.78%

Nippon Life Insurance Company

5,000,000

2.54%

The Norinchukin Bank

3,350,000

1.70%

JR Central Employee Stock Ownership Program

3,130,900

1.59%

STATE STREET BANK WEST CLIENT-TREATY 505234 (Standing proxy: Settlement & Clearing Services Department, Mizuho Bank, Ltd.)2,851,740

1.45%

Administration Management Center
SCMAGLEV and Railway Park

JR Central

JR Central operates the Tokaido
Shinkansen, the main transportationartery linking Tokyo, Nagoya
and Osaka, and a network of 12
conventional lines centered on the
Nagoya and Shizuoka City areas.

Shinkansen

Inotani

Conventional lines

Operating kilometers by line
Shiojiri
Takayama Line

Tokaido Shinkansen

TatsunoTokyo
Kofu
ShinagawaShin-Yokohama

Mino-Akasaka Mino-Ota
Gifu

Ogaki
MaibaraMinobu Line

Gotemba Line

Tajimi
Fuji

NagoyaAtami

Kansai Line

Kameyama

Kyoto

NumazuObuTokaido Line

TaketoyoShin-Osaka

Kyoto

Meisho Line

Taketoyo Line Toyohashi

Matsusaka
Ise-Okitsu
Kisei Line

Taki

Kozu

Tokaido Shinkansen

Shizuoka

552.6kmConventional lines
360.1km
Tokaido Line
Gotemba Line

Chuo Line

Taita Line

Iida Line

Area of Japan: Approx. 380,000 km²
Population: 125 million(As of January 1, 2023)

Percentage of total shares outstanding(excluding treasury stock)

Custody Bank of Japan, Ltd. (Trust Account)

Kansai Branch Oﬃce

Health Care Center

500km

Number of shares held

General Education Center

Overseas Oﬃces: Washington D.C., London, Sydney

Operating Areas

4,000
Jan. Mar. May. Jul. Sep. Nov. Jan. Mar. May. Jul. Sep. Nov. Jan. Mar. May. Jul. Sep. Nov. Jan. Mar. May. Jul. Sep. Nov. Jan. Mar. May. Jul. Sep. Nov. Jan. Mar. May. Jul. Sep. Nov. Jan. Mar. May. Jul. Sep. Nov. Jan. Mar. May. Jul. Sep. Nov. Jan. Mar. May. Jul. Sep. Nov. Jan. Mar. May. Jul. Sep. Nov. Jan. Mar. May.
2013 2013 2013 2013 2013 2013 014 2014 2014 2014 2014 2014 2015 2015 2015 2015 2015 2015 2016 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2021 2021 2021 2021 2021 2021 2022 2022 2022 2022 2022 2022 2023 2023 2023

Mie Regional Oﬃce

Personnel Department
Audit and Supervisory Board members

400,000

Shizuoka Branch Oﬃce

Legal Aﬀairs Department

0

(Yen)

2,800,000

CapitalShare listings▶

Stock Information

JR Central’s stock priceOperating revenues
Number of shares outstanding▶

JR Central Towers, 1-1-4 Meieki, Nakamura-ku, Nagoyashi, Aichi 450-6101, Japan

Head office Head officeand othermain offices Head office(in Tokyo)

Sumitomo Mitsui Banking Corporation
Total

60.2kmMinobu Line

88.4kmIida Line

195.7km

Taketoyo Line

19.3kmTakayama Line

189.2km

Chuo Line

174.8km

Taita Line

17.8kmKansai Line59.9kmKisei Line

180.2km

Meisho Line

43.5kmSangu Line

29.1km・Safety Report
For more information,please visit the following:https://company.jr-central.co.jp/others/report/

・Fact Sheet

https://company.jr-central.co.jp/ir/factsheets/

Conventional lines total 1,418.2km
Total

1,970.8km

URL :https://jr-central.co.jp

JR Central

E-mail :ir.msd@jr-central.co.jp

Shin-Osaka[As of March 31, 2023]

・Linear Chuo Shinkansen https://linear-chuo-shinkansen.jr-central.co.jp/

NagoyaTokyo
Shizuoka

1.27%

37.04%

Note: In addition to the above, JR Central holds 8,999,232 shares of treasury stock.

Toba
Sangu Line

2,502,800

72,966,940

Tel：(03)6711-9535

Shingu81

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