The most profitable Shinkansen route also means the largest capital spending in the future.
We are initiating coverage of Central Japan Railway Company, or JRC, with a fair value estimate of JPY 20,000. We rate JRC as having a narrow moat, owing to the positive returns that exceed its cost of capital and the high certainty of these stable returns as a result of the service territory monopoly.JRC benefits considerably from running the most profitable Shinkansen route in the national railway system, with minor appeals emerging from retail facilities development. Tokaido Shinkansen, whic...
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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