Trends Toward Additional CapEx Will Not Affect Most of JR East’s Stable Earnings Prospects for Now
Narrow-moat-rated JR East’s additional capital spending, mainly for enhancing safety measures in railway facilities, will not affect the company’s stable earnings outlook, and the company will continue to benefit from a favorable regulatory environment led by the Ministry of Land, Infrastructure and Transportation, in our view. While detailed disclosure has yet to be made available, JR companies are leading an emerging trend toward a rebound in capital spending after corporate Japan reported the...East Japan Railway is mainly engaged in the transportation business. Co. operates railway routes covering mainly in the Kanto area and the Tohoku area totaling of 7,457.3 km of railway with 1,665 stations, 11,506 standard rolling stocks and 1,370 bullet Train rolling stocks as of Mar 31 2017. Co. establishes commercial space in the railway stations and operates restaurants, retail stores, cafes, convenience stores and shopping centers; and leases office buildings located in the railway stations and surrounding areas. Co. is also engaged in hotel business, advertising agency, travel operations, wholesale, truck delivery, information processing, cleaning, as well as credit card business.
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