JRC’s Stable Earnings over Multiple Decades to Support Larger Debt Load on the Chuo Shinkansen
Central Japan Railway's, or JRC’s, 2016 result, with net profit increasing 16.4% year over year to JPY 392.9 billion, did not contain any surprise items. The small upswing from our forecast was attributed to an unexpected 7.1% fall in noncash depreciation expenses, reflecting a one-time change in the depreciation method employed by management. As expected, the mainstay railway operations remain on track, maintaining 1.6% growth in high-speed services a key growth driver, leading to stable consol...Central Japan Railway is engaged in the provision of railway services in Tokai region. As of Mar 31 2018, Co. operates 13 railway lines, 405 railway stations, and 4,840 rolling stocks. The Core of Co.'s operations is the Tokaido Shinkansen, the main transportation artery linking Japan's principal metropolitan areas of Tokyo, Nagoya, and Osaka, as well as conventional lines. Co. is also engaged in the operation of department stores, the sale of foods and beverages in the trains and stations, the lease and sale of real estate, the operations of hotels, and the provision of travel agency and advertising agency services, as well as facility inspection and maintenance services.
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