CENTRAL JAPAN RAILWAY COMPANY Summary of Consolidated Financial Report for the Year Ended March 31, 2023〔under Japanese GAAP〕（Unaudited）
English translation from the original Japanese-language document.
Central Japan Railway Company is refferred to as the "Company," and the Company and its consolidated subsidiaries are refferred to as the "Companies." April 26, 2023
Company Name | Central Japan Railway Company | ||||||||
Stock Exchange Listings | Tokyo and Nagoya | ||||||||
Code Number | 9022 | ||||||||
URL | https://jr-central.co.jp | ||||||||
Representative | Shunsuke Niwa, President and Representative Director | ||||||||
Contact Person | Ataru Kimura, Corporate Executive Officer, General Manager of the Public | ||||||||
Relations Department (Tel +81-52-564-2549) | |||||||||
Expected Date of the Annual Shareholders' Meeting | June 23, 2023 | ||||||||
Expected Date of Presentation of Annual Securities Reports | June 23, 2023 | ||||||||
Expected Date of Dividend Payment Commencement | June 26, 2023 | ||||||||
Supplementary Information | Attached | ||||||||
Briefing of Financial Results of Fiscal 2023 | To be held (for institutional investors and analysts) | ||||||||
(Figures less than one million yen, except for per share information, have been rounded down.) | |||||||||
1. Results for Fiscal 2023 (Year ended March 31, 2023) | |||||||||
(1) Consolidated financial results | |||||||||
Operating revenues | Operating income | Ordinary income | Net income attributable | ||||||
to owners of the parent | |||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||
Fiscal 2023 | 1,400,285 | 49.7 | 374,503 | ― | 307,485 | ― | 219,417 | ― | |
Fiscal 2022 | 935,139 | 13.6 | 1,708 | ― | (67,299) | ― | (51,928) | ― | |
Note 1. Comprehensive income : | Fiscal 2023 | 223,631 million yen, ―%. | Fiscal 2022 | (52,144) million yen, ―%. |
2. Percentages for operating revenues, operating income, ordinary income, net income attributable to owners of the parent, and comprehensive income represent the changes from the previous year.
Net income per share | Net income per share | Return on net worth | Ordinary income | Operating income | |||||||||||
- basic | - diluted | to total assets | to operating revenues | ||||||||||||
Yen | Yen | % | % | % | |||||||||||
Fiscal 2023 | 1,114.93 | ― | 6.0 | 3.2 | 26.7 | ||||||||||
Fiscal 2022 | (263.87) | ― | (1.4) | (0.7) | 0.2 | ||||||||||
Note | Equity in earnings of affiliates : | Fiscal 2023 173 million yen. | Fiscal 2022 182 million yen. | ||||||||||||
(2) Consolidated financial position | |||||||||||||||
Total assets | Equity | Net worth ratio | Equity per share | ||||||||||||
Millions of yen | Millions of yen | % | Yen | ||||||||||||
Fiscal 2023 | 9,514,409 | 3,807,110 | 39.5 | 19,101.99 | |||||||||||
Fiscal 2022 | 9,450,519 | 3,609,252 | 37.7 | 18,110.23 | |||||||||||
Note | Net worth : Fiscal 2023 3,759,255 million yen. | Fiscal 2022 | 3,564,078 million yen. | ||||||||||||
(3) Consolidated cash flows | |||||||||||||||
Net cash provided by operating | Net cash used in investing | Net cash used in financing | Cash and cash equivalents, | ||||||||||||
activities | activities | activities | end of the fiscal year | ||||||||||||
Millions of yen | Millions of yen | Millions of yen | Millions of yen | ||||||||||||
Fiscal 2023 | 486,706 | (175,036) | (220,604) | 710,526 | |||||||||||
Fiscal 2022 | 71,746 | (153,049) | (19,178) | 619,460 | |||||||||||
2. Cash dividends | |||||||||||||||
Cash dividends per share | Total dividends | Payout ratio | Dividends on | ||||||||||||
equity ratio | |||||||||||||||
1st Quarter 2nd Quarter | 3rd Quarter Year-end | Total | (Fiscal) | (Consolidated) | |||||||||||
(Consolidated) | |||||||||||||||
Yen | Yen | Yen | Yen | Yen | Millions of yen | % | % | ||||||||
Fiscal 2022 | ― | 65.00 | ― | 65.00 | 130.00 | 25,610 | ― | 0.7 | |||||||
Fiscal 2023 | ― | 65.00 | ― | 70.00 | 135.00 | 26,595 | 12.1 | 0.7 | |||||||
Fiscal 2024 (Forecast) | ― | 70.00 | ― | 70.00 | 140.00 | 11.0 | |||||||||
3. Consolidated forecast for Fiscal 2024 (Year ending March 31, 2024) | |||||||||||||||
Operating revenues | Operating income | Ordinary income | Net income attributable | Net income per share | |||||||||||
to owners of the parent | - basic | ||||||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen |
Fiscal 2024 | 1,566,000 | 11.8 | 430,000 | 14.8 | 357,000 | 16.1 | 250,000 | 13.9 | 1,270.33 | |
Note | Percentages for operating revenues, operating income, ordinary income, and net income attributable to owners of the parent represent the changes | |||||||||
from the previous year. |
Notes to Consolidated Financial Information
(1) Changes in scope of significant consolidated subsidiaries ： none
-
Changes in accounting policies, changes in accounting estimates and error corrections ⅰ) Changes in accounting policies due to revision of accounting standard : none ⅱ) Other changes in accounting policies : none
ⅲ) Changes in accounting estimates : none
ⅳ) Error corrections : none - Number of common shares issued and outstanding at the end of each year
ⅰ) Number of shares outstanding at the end of the year | shares | shares | ||
(Including treasury stocks) | Fiscal 2023 | 206,000,000 | Fiscal 2022 | 206,000,000 |
shares | shares | |||
ⅱ) Number of treasury stocks at the end of the year | Fiscal 2023 | 9,200,852 | Fiscal 2022 | 9,200,851 |
shares | shares | |||
ⅲ) Average number of shares outstanding for the year | Fiscal 2023 | 196,799,149 | Fiscal 2022 | 196,797,600 |
Note Treasury stocks that are deducted from calculation of the average number of shares outstanding for the year include the Company's shares held by the employee stock ownership plan trust account, as follows.
Fiscal 2023 ― shares. Fiscal 2022 1,567 shares.
(4) Consolidated Balance Sheet
Money held in trust for the Chuo Shinkansen construction and Long-term debt for the Chuo Shinkansen construction
The Company has received loans from the Japan Railway Construction, Transport and Technology Agency for promoting the construction of the Chuo Shinkansen, and the money is placed in the trust fund to segregate it from other money.
(Reference) Summary of Nonconsolidated Financial Report
1. Results for Fiscal 2023 (Year ended March 31, 2023)
(1) Nonconsolidated financial results
Operating revenues | Operating income | Ordinary income | Net income | |||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |||||
Fiscal 2023 | 1,143,393 | 57.5 | 346,371 | ― | 278,899 | ― | 201,924 | ― | ||||
Fiscal 2022 | 726,074 | 34.0 | (1,261) | ― | (74,048) | ― | (68,176) | ― | ||||
Note | Percentages for operating revenues, operating income, ordinary income, and net income represent the changes from the previous year. | |||||||||||
Net income per share - basic | Net income per share - diluted | |||||||||||
Yen | Yen | |||||||||||
Fiscal 2023 | 1,025.00 | ― | ||||||||||
Fiscal 2022 | (346.08) | ― | ||||||||||
(2) Nonconsolidated financial position | ||||||||||||
Total assets | Equity | Net worth ratio | Equity per share | |||||||||
Millions of yen | Millions of yen | % | Yen | |||||||||
Fiscal 2023 | 9,287,209 | 3,548,576 | 38.2 | 18,013.01 | ||||||||
Fiscal 2022 | 9,246,656 | 3,369,875 | 36.4 | 17,105.90 | ||||||||
Note | Net worth : | Fiscal 2023 3,548,576 million yen. | Fiscal 2022 3,369,875 million yen. | |||||||||
2. Nonconsolidated forecast for Fiscal 2024 (Year ending March 31, 2024) | ||||||||||||
Operating revenues | Operating income | Ordinary income | Net income | Net income per share | ||||||||
- basic | ||||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | ||||
Fiscal 2024 | 1,294,000 | 13.2 | 411,000 | 18.7 | 338,000 | 21.2 | 239,000 | 18.4 | 1,213.19 | |||
Note | Percentages for operating revenues, operating income, ordinary income, and net income represent the changes from the previous year. | |||||||||||
Note | 1. Financial information is not subject to audit procedures. |
- The forward-looking statements in this report are based on estimates and assumptions that reflect information available as of the day of release of this report. The accuracy of forecasts above, therefore, is inherently uncertain because it is affected by future economic trends and environment.
- English supplementary information will be announced on our website later.
CONSOLIDATED BALANCE SHEET (Unaudited)
Millions of yen | ||
Fiscal 2022 | Fiscal 2023 | |
(As of March 31, 2022) | (As of March 31, 2023) | |
ASSETS | ||
Current assets: | ||
Cash and deposits | 331,651 | 674,640 |
Money held in trust for the Chuo Shinkansen construction | 1,813,068 | 1,585,282 |
Notes, accounts receivable-trade and contract assets | 54,569 | 66,275 |
Railway fares receivables | 44,193 | 74,809 |
Marketable securities | 328,500 | 177,500 |
Inventories | 34,369 | 37,337 |
Other | 76,518 | 96,534 |
Allowance for doubtful accounts | (106) | (95) |
Total current assets | 2,682,764 | 2,712,285 |
Noncurrent assets: | ||
Property, plant and equipment | ||
Buildings and structures, net | 1,354,261 | 1,313,282 |
Machinery, rolling stock and vehicles, net | 272,900 | 316,718 |
Land | 2,356,728 | 2,367,843 |
Construction in progress | 1,382,891 | 1,571,185 |
Other, net | 40,879 | 43,571 |
Total property, plant and equipment | 5,407,662 | 5,612,601 |
Intangible assets | 142,072 | 159,401 |
Investments and other assets | ||
Investment securities | 772,089 | 630,801 |
Asset for retirement benefits | 5,257 | 5,763 |
Deferred tax assets | 260,389 | 217,495 |
Other | 180,830 | 176,547 |
Allowance for doubtful accounts | (545) | (487) |
Total investments and other assets | 1,218,020 | 1,030,120 |
Total noncurrent assets | 6,767,755 | 6,802,124 |
Total assets | 9,450,519 | 9,514,409 |
Millions of yen | ||
Fiscal 2022 | Fiscal 2023 | |
(As of March 31, 2022) | (As of March 31, 2023) | |
LIABILITIES | ||
Current liabilities: | ||
Notes and accounts payable-trade | 75,970 | 79,533 |
Short-term loans payable | 30,738 | 27,341 |
Current portion of bonds payable | － | 139,002 |
Current portion of long-term loans payable | 87,777 | 47,692 |
Current portion of long-term accounts payable-railway facilities | 6,529 | 6,937 |
Accounts payable-other | 210,644 | 218,639 |
Income taxes payable | 6,409 | 44,216 |
Advances received | 40,368 | 48,006 |
Deposits received | 31,829 | 25,675 |
Provision for bonuses | 22,493 | 26,811 |
Other | 224,552 | 65,595 |
Total current liabilities | 737,314 | 729,452 |
Noncurrent liabilities: | ||
Bonds payable | 890,754 | 769,801 |
Long-term loans payable | 436,642 | 473,390 |
Long-term debt for the Chuo Shinkansen construction | 3,000,000 | 3,000,000 |
Long-term accounts payable-railway facilities | 519,988 | 513,050 |
Provision for large-scale renovation of the Shinkansen infrastructure | 35,000 | － |
Liability for retirement benefits | 180,830 | 182,801 |
Other | 40,736 | 38,802 |
Total noncurrent liabilities | 5,103,953 | 4,977,846 |
Total liabilities | 5,841,267 | 5,707,299 |
EQUITY | ||
Shareholders' equity: | ||
Common stock | 112,000 | 112,000 |
Capital surplus | 53,474 | 53,474 |
Retained earnings | 3,449,334 | 3,643,142 |
Treasury stock | (103,159) | (103,159) |
Total shareholders' equity | 3,511,649 | 3,705,456 |
Accumulated other comprehensive income: | ||
Unrealized gain on available-for-sale securities | 46,912 | 49,517 |
Remeasurements of defined benefit plans | 5,516 | 4,280 |
Total accumulated other comprehensive income | 52,428 | 53,798 |
Noncontrolling interests | 45,173 | 47,855 |
Total equity | 3,609,252 | 3,807,110 |
Total liabilities and equity | 9,450,519 | 9,514,409 |
CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited)
Millions of yen | ||
Fiscal 2022 | Fiscal 2023 | |
(For the year ended | (For the year ended | |
March 31, 2022) | March 31, 2023) | |
Operating revenues | 935,139 | 1,400,285 |
Operating expenses: | ||
Transportation, other services and cost of sales | 773,583 | 847,847 |
Selling, general and administrative expenses | 159,847 | 177,934 |
Total operating expenses | 933,431 | 1,025,781 |
Operating income | 1,708 | 374,503 |
Non-operating income: | ||
Interest income | 2,421 | 2,122 |
Dividend income | 3,807 | 4,912 |
Equity in earnings of affiliates | 182 | 173 |
Insurance income | 2,976 | 1,878 |
Gain on sales of investment securities | 144 | 2,989 |
Other | 7,667 | 4,082 |
Total non-operating income | 17,199 | 16,159 |
Non-operating expenses: | ||
Interest expense | 44,507 | 44,979 |
Interest on long-term accounts payable-railway facilities | 34,516 | 34,132 |
Other | 7,183 | 4,065 |
Total non-operating expenses | 86,207 | 83,177 |
Ordinary income (loss) | (67,299) | 307,485 |
Extraordinary gain: | ||
Contribution for construction | 4,730 | 1,329 |
Gain on sales of noncurrent assets | 2,464 | 1,426 |
Other | 787 | 180 |
Total extraordinary gain | 7,982 | 2,936 |
Extraordinary loss: | ||
Loss on reduction of noncurrent assets | 4,679 | 1,992 |
Loss on retirement of noncurrent assets | 1,340 | 1,992 |
Loss on sales of noncurrent assets | 94 | 21 |
Other | 1,314 | 281 |
Total extraordinary loss | 7,429 | 4,288 |
Income (loss) before income taxes | (66,745) | 306,132 |
Income taxes-current | 4,980 | 41,003 |
Income taxes-deferred | (22,098) | 43,031 |
Total income taxes | (17,117) | 84,034 |
Net income (loss) | (49,627) | 222,098 |
Net income attributable to noncontrolling interests | 2,300 | 2,680 |
Net income (loss) attributable to owners of the parent | (51,928) | 219,417 |
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Disclaimer
Central Japan Railway Company published this content on 26 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 April 2023 07:16:01 UTC.
