Strong Government Support Will Continue to Support Outsize Capital Investment at JR Central
Narrow-moat JR Central’s outsize investments in the Chuo Shinkansen, the first train operating with the superconductive Maglev system in Japan, will not affect our long-term investment view of the company. Despite its unprecedented requirements for elevated capital spending, consisting of JPY 5.5 trillion (Tokyo-Nagoya) and JPY 3.5 trillion (Nagoya-Osaka) over the next 11 and 20 years, respectively, the company will continue to benefit from strong government support under the Ministry of Land, I...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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