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Consolidated Financial Highlights
Non-Consolidated Financial Highlights
Years ended March 31 2014, 2013, 2012, 2011, 2010
2010.3
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2011.3
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2012.3
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2013.3
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Years ended March 31 2014, 2013, 2012, 2011, 2010
2014.3
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2011.3
2012.3
2013.3
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2014.3
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¥1,143.9
¥1,171.9
¥1,184.5
¥1,245.0
¥1,277.2
$12,522
1,134.9
1,162.6
1,175.6
1,235.9
1,268.5
12,437
9.0
9.2
8.9
9.0
8.6
85
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869.8
846.4
839.0
845.9
816.3
8,004
2,507
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863.2
839.6
833.2
840.1
808.9
7,931
276.2
2,708
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6.7
5.7
5.7
7.4
73
281.1
200.1
1,963
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274.1
325.4
345.5
399.1
460.8
4,518
5,214.0
5,231.1
5,178.1
50,766
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145.4
206.7
239.7
301.8
370.4
3,632
1,246.1
1,363.2
1,557.9
1,802.2
17,669
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88.4
123.0
120.8
187.8
240.3
2,357
1,096.6
1,206.6
1,321.6
1,513.3
1,753.7
17,194
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247.0
240.0
241.4
223.7
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33.9%
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244.8
288.8
298.4
301.6
229.0
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1.8%
2.6%
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5,010.3
5,075.0
5,033.5
5,042.9
4,986.0
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1,436.3
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1,661.3
16,288
¥46,574.56
¥67,990.31
¥67,470.45
¥1,016.12
¥1,299.23
$12.74
21.1%
22.8%
25.0%
28.5%
33.3%
33.3%
9,000.00
9,000.00
9,500.00
105.00
115.00
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2.4%
2.4%
3.7%
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¥44,823.34
¥62,455.63
¥61,328.43
¥953.32
¥1,220.16
$11.96
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9,000.00
9,500.00
105.00
115.00
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¥1,486.6
¥1,503.0
¥1,508.3
¥1,585.3
¥1,652.5
$16,201
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1,153.7
1,135.8
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34
35
6XPPDU\RI3HUIRUPDQFH
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Operating Revenues
Operating Revenues
(Transportation)
1,169
1,200
(billions
of yen)
1,182
1,243
(Merchandise and Other)
1,276
195
1,142
200
(billions
of yen)
900
220
188
Operating Revenues
Operating Revenues
75
(billions
of yen)
250
(billions
of yen)
(Real Estate)
66
(Other Services)
255
66
62
67
64
60
200
45
150
30
100
15
50
250
239
233
225
100
300
50
’10.3
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Segment-by-Segment Performance for the Year Ended
March 31, 2014
The JR Central Group prioritizes safe and reliable transportation, which
is the foundation of the railway business, as we aim to further enhance our
services. We have continually endeavored to improve the competency of
our employees, strengthen facilities, increase efficiency and reduce costs
in an effort to boost profitability. As a result, overall railway performance
(passenger-kilometers) rose favorably in terms of both business and
tourism use, increasing 3.8% YoY to 58.12 billion passenger kilometers.
Operating revenue also increased by 4.2% YoY to 1 trillion 652.5 billion
yen, ordinary income increased by 23.2% YoY to 404.2 billion yen, and net
income increased by 27.9% YoY to 255.6 billion yen.
We were able to decrease long-term debt and payables on a
consolidated basis by 226.7 billion yen, which resulted in a long-term
liability balance of 2 trillion 639.9 billion yen as of the end of March 2013.
In addition, considering the satisfactory railway passenger volumes for
both business and tourism brought about by improved economic conditions
and other positive factors, we set the year-end dividend at 60 yen per
share for an annual per share dividend of 115 yen.
Business performance in each segment was as follows.
①Transportation
For the Tokaido Shinkansen, we launched a large-scale renovation,
which utilizes developed technologies to maintain and improve the integrity
of civil engineering structures. In addition to improving precautions against
an earthquake through the adoption of derailment and deviation prevention
measures, we have moved ahead with renovation of the Hamamatsu
Workshop, which does the Shinkansen rolling stock overhauls, in an effort
to improve earthquake resistance. Moreover, since the March 2014
timetable revision, we have been utilizing the “10 Nozomi Timetable” to
flexibly schedule trains to meet demands, and we have introduced the
newest model rolling stock, N700A, and are converting Series N700 to
mirror N700A’s functions (by equipping trains with high performance wheel
mounted brake disks, cruise control system, etc.). In addition, we have
worked to further enhance passenger service and assure safe and reliable
operation, including proceeding to install new movable platform fences at
36
209
150
600
0
205
0
Nozomi stop-stations frequently used by large volumes of passengers, and
completing construction of smoking rooms at all Shinkansen stations.
Along our conventional lines, in addition to reinforcing the earthquake
resistance of elevated track columns, we have begun work on
quakeproofing the Nagoya Workshop, which performs general overhauls of
conventional lines, as we continue to further our earthquake
countermeasures. We have also systematically promoted improvements in
level crossing safety equipment and measures to monitor falling rocks.
Building upon progress made by local municipalities in their forest
conservation projects and development of water conduits, we began work
on restoring the Meishō Line (between Ieki Station and Ise-okitsu Station),
which is currently covered by an alternative bus service following the
extensive damage wrought by Typhoon Man-yi (No.18) in October 2009.
Furthermore, we have worked to enhance and ensure safe and reliable
service with the operation of special express service and other
conveniences, allowing for a more convenient travel to Ise Jingu Shrine to
celebrate the rebuilding of the sanctuaries this year, an event taking place
only every twenty years.
We have also continued to promote marketing initiatives aimed at
expanding and increasing Express Reservation and PLUS EX service
membership. With regards to the PLUS EX service, members may use
their current credit card to make the Tokaido Shinkansen reservations
online and enjoy IC boarding service. We have strived to increase the
number of participating retailers accepting electronic payments with
TOICA, which has enjoyed acceptance nationwide since March 2013.
Furthermore, we have aggressively expanded sales initiatives through
campaigns making use of tourist attractions in locations such as Tokyo,
Nara, Kyoto along with the rededication ceremony at Ise Jingu Shrine, and
we are offering these destinations in travel products combined with other
arrangements.
Due to the successive use of the railway for business and tourism,
performance (passenger-kilometers) for the current year was up 4.1% YoY
to 48 billion 873 million kilometers for the Tokaido Shinkansen, rising 2.1%
YoY to 9 billion 229 million for conventional lines.
In our bus business, ensuring safety has also always been our top
priority. We have worked to create products tailored to customers’ needs
’10.3
’11.3
’12.3
’13.3
’14.3
0
’10.3
’11.3
and ensure profitability.
As a result of the aforementioned, operating revenue for the term
increased by 2.7% YoY to 1 trillion 276.1 billion yen and operating income
gained by 16.2% YoY to 460.1 billion yen.
② Merchandise and Other
In our merchandise and other businesses, we have worked to bolster
earning power by offering an attractive and extensive assortment of
products as well as services suited to customer needs at JR Nagoya
Takashimaya. Appropriate measures were also adopted to meet demand
ahead of the consumption tax hike in 2014.
As a result of the above, operating revenue increased by 5.4% YoY to
220.7 billion yen and operating income was up 13.2% YoY to 8.2 billion
yen.
③ Real Estate
In the real estate segment, although construction of the underground
levels of JR Gate Tower, currently underway in Nagoya Station, has taken
longer than initially planned and the expected completion date had been
delayed, we have renewed our efforts so that construction proceeds safely
and without interruption, and have continued to address tenant leasing. In
addition, at First Avenue Tokyo Station and other station commercial
facilities, we have initiated renewals, held events and implemented other
marketing promotions, endeavoring to bring in even more customers by
opening a new shop at Nagoya Central Garden, a commercial zone
developed in an urban area.
As a result of the aforementioned, operating revenue increased by
3.7% YoY to 67.4 billion yen and operating income was up 8.7% YoY to
13.8 billion yen.
④Other Services
In our hotel operations, we have added to the attractiveness of our
hotels with restaurant renewals. At the same time, we have created
products suited to customers’ orientation, offered high quality services and
strived to enhance marketability.
In our travel business, we have actively marketed not only travel
products for Ise Jingu Shrine to coincide with the rededication ceremony,
but also inviting travel products coupled with tourism campaigns to
destinations such as Kyoto, Nara and Tokyo, and have strived to improve
’12.3
’13.3
’14.3
0
’10.3
’11.3
’12.3
’13.3
’14.3
sales online.
In our rolling stock manufacturing business, we have endeavored to
increase orders for the manufacture of rolling stock, construction
machinery and other items.
As a result of the above, operating revenue increased by 7.5% YoY to
250.6 billion yen and operating income was up 11.6% YoY to 10.5 billion
yen, owing to a decline in income at Nippon Sharyo, Ltd.
Efforts for the Coming year Ending March 31, 2015
Over the term ending March 31, 2015, we will continue to maintain the
safe and reliable operation of our railway business as our top priority while
we steadily push forward with earthquake countermeasures, implement a
large-scale renovation of civil engineering structures, introduce N700A
rolling stock, convert Series N700 rolling stock, work on electrification of
the Taketoyo Line, replace diesel railcars and so on. In addition, we will
steadily advance the Chuo Shinkansen Project, which employs the
Superconducting Maglev, as well as efforts in furthering the JR Gate
Tower Project in Nagoya Station, overseas high-speed rail and the
Superconducting Maglev Project. So that we steadily move forward with
these various challenges, we will continue to work to enhance profitability
and make sustained improvements in our engineering capabilities. At the
same time, we will make every effort to reduce costs and increase
efficiency across all operations including capital investment, and will strive
to improve our management structure.
FY 2015.3 Forecasts
(billions of yen)
Consolidated (2015/2014) Non-Consolidated (2015/2014)
1,636
(99.0%)
1,279
(100.1%)
Operating income
459
(92.8%)
429
(93.1%)
Ordinary income
388
(96.0%)
359
(96.6%)
Net income
265
(103.6%)
251
(104.4%)
Operating revenues
*As of the publishment of the financial report for FY2014.3
37