Japan Railways Keeping on Track with Additional Upside from Increasing Tourist Demand
The first quarter results for Japan’s three largest passenger railway companies did not contain any surprises. The shares appear slightly undervalued after we have incorporated upsides emerging from additional tourist demand for East Japan Railway, or JRE, and West Japan Railway, or JRW. During the quarter, Central Japan Railway, or JRC, announced they have completed the second leg of the JPY 3 trillion government loan package at a minimal coupon rate of 1.0% (versus the comparable market rate o...West Japan Railway is one of the companies that was formed upon the privatization and separation of Japanese National Railways ("JNR") in 1987. Co. operates a railway network covering 18 prefectures in western Honshu and the northern tip of Kyushu, with a total of 5,036.7 km of railway with 1,186 stations and 6,562 rolling stocks as of Mar 31 2017. Co. is engaged in the provision of "Sanyo Shinkansen" and urban network passenger transport service; the operation of convenience stores, department stores and hotels; the operation and management of shopping centers; and the provision of travel agency, advertising agency, as well as maintenance and engineering services.
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