Central Japan Railway Company and Consolidated Subsidiaries
Consolidated Balance Sheet as of March 31, 2024, and the Related Consolidated Statements of Income, Comprehensive Income, Changes in Equity,
and Cash Flows for the Year then Ended and Independent Auditor's Report
Central Japan Railway Company and Consolidated Subsidiaries
Consolidated Balance Sheet
March 31, 2024
Thousands of | Thousands of | ||||||||||||||||||
Millions of Yen | U.S. Dollars | Millions of Yen | U.S. Dollars | ||||||||||||||||
(Note 2) | (Note 2) | (Note 2) | (Note 2) | ||||||||||||||||
ASSETS | 2024 | 2023 | 2024 | LIABILITIES AND EQUITY | 2024 | 2023 | 2024 | ||||||||||||
CURRENT ASSETS: | CURRENT LIABILITIES: | ||||||||||||||||||
Cash and cash equivalents (Note 13) | 821,720 | 710,526 | $ | 5,441,854 | Short-term loans payable (Notes 6 and 13) | 32,094 | 27,341 | $ | 212,543 | ||||||||||
Money held in trust for the Chuo Shinkansen construction | (Notes 3.c and 13) | 1,351,634 | 1,585,282 | 8,951,218 | Current portion of long-term debt (Notes 6 and 13) | 116,754 | 186,695 | 773,205 | |||||||||||
Marketable securities (Notes 5 and 13) | 137,900 | 143,600 | 913,245 | Current portion of long-term accounts payable- | |||||||||||||||
Trade receivables and contract assets (Notes 12 and 13) | 181,696 | 141,085 | 1,203,284 | railway facilities (Notes 8 and 13) | 7,373 | 6,937 | 48,827 | ||||||||||||
Allowance for doubtful accounts | (105) | (95) | (695) | Trade payables (Note 13) | 348,306 | 297,661 | 2,306,662 | ||||||||||||
Inventories | 41,858 | 37,337 | 277,205 | Provision for bonuses | 30,226 | 26,811 | 200,172 | ||||||||||||
Prepaid expenses and other | 256,392 | 94,548 | 1,697,960 | Income taxes payable (Note 13) | 106,429 | 44,216 | 704,827 | ||||||||||||
Advances received | 48,102 | 42,476 | 318,556 | ||||||||||||||||
Total current assets | 2,791,097 | 2,712,285 | 18,484,086 | Other (Note 6） | 109,416 | 97,311 | 724,609 | ||||||||||||
Total current liabilities | 798,703 | 729,452 | 5,289,423 | ||||||||||||||||
NONCURRENT ASSETS: | |||||||||||||||||||
Investments and other assets: | |||||||||||||||||||
Investment securities (Notes 5 and 13) | 511,472 | 616,764 | 3,387,231 | NONCURRENT LIABILITIES: | |||||||||||||||
Investments in and advances to unconsolidated | Long-term debt (Notes 6 and 13) | 1,216,377 | 1,243,192 | 8,055,476 | |||||||||||||||
subsidiaries and affiliates (Note 13) | 17,918 | 17,155 | 118,662 | Long-term debt for the Chuo Shinkansen construction (Notes 3.c, 7 and 13) | 3,000,000 | 3,000,000 | 19,867,549 | ||||||||||||
Asset for retirement benefits (Note 9) | 10,330 | 5,763 | 68,410 | Long-term accounts payable-railway facilities (Notes 8 and 13) | 505,677 | 513,050 | 3,348,854 | ||||||||||||
Deferred tax assets (Note 11) | 160,992 | 217,495 | 1,066,172 | Liability for retirement benefits (Note 9) | 157,019 | 182,801 | 1,039,860 | ||||||||||||
Long-term prepaid expenses and other | 641,658 | 332,831 | 4,249,390 | Other (Note 11) | 40,433 | 38,802 | 267,768 | ||||||||||||
Allowance for doubtful accounts | (435) | (487) | (2,880) | ||||||||||||||||
Total noncurrent liabilities | 4,919,508 | 4,977,846 | 32,579,523 | ||||||||||||||||
Total investments and other assets | 1,341,937 | 1,189,522 | 8,887,000 | ||||||||||||||||
Property, plant and equipment (Note 3.f): | CONTINGENCIES (Note 16) | ||||||||||||||||||
Buildings and structures | 5,065,288 | 5,037,457 | 33,544,953 | ||||||||||||||||
Machinery, rolling stock and vehicles | 1,538,996 | 1,543,827 | 10,192,026 | ||||||||||||||||
Land | 2,367,230 | 2,367,843 | 15,677,019 | EQUITY (Notes 10 and 19): | |||||||||||||||
Construction in progress | 1,830,396 | 1,571,185 | 12,121,827 | Common stock-authorized, 4,120,000,000 shares; | |||||||||||||||
Other | 198,731 | 196,875 | 1,316,099 | issued, 1,030,000,000 shares in 2024 and 2023* | 112,000 | 112,000 | 741,721 | ||||||||||||
Total | 11,000,643 | 10,717,190 | 72,851,940 | Capital surplus | 54,129 | 53,474 | 358,470 | ||||||||||||
Accumulated depreciation | (5,191,782) | (5,104,588) | (34,382,662) | Retained earnings | 3,999,973 | 3,643,142 | 26,489,887 | ||||||||||||
Treasury stock-at cost, 46,004,820 shares in 2024 | |||||||||||||||||||
Net property, plant and equipment | 5,808,861 | 5,612,601 | 38,469,278 | and 46,004,260 shares in 2023* | (103,161) | (103,159) | (683,185) | ||||||||||||
Accumulated other comprehensive income: | |||||||||||||||||||
Total noncurrent assets | 7,150,798 | 6,802,124 | 47,356,278 | Unrealized gain on available-for-sale securities | 86,202 | 49,517 | 570,874 | ||||||||||||
Remeasurements of defined benefit plans (Note 9) | 20,516 | 4,280 | 135,867 | ||||||||||||||||
Total | 4,169,660 | 3,759,255 | 27,613,642 | ||||||||||||||||
Noncontrolling interests | 54,023 | 47,855 | 357,768 | ||||||||||||||||
Total equity | 4,223,683 | 3,807,110 | 27,971,410 | ||||||||||||||||
TOTAL ASSETS | 9,941,896 | 9,514,409 | $ | 65,840,370 | TOTAL LIABILITIES AND EQUITY | 9,941,896 | 9,514,409 | $ | 65,840,370 |
See notes to consolidated financial statements.
* Shares of common stock and treasury stock have been restated, as appropriate, to reflect the five-for-one stock split effective as of October 1, 2023.
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Central Japan Railway Company and Consolidated Subsidiaries
Consolidated Statement of Income
Year Ended March 31, 2024
Thousands of | ||||||||
Millions of Yen | U.S. Dollars | |||||||
(Note 2) | (Note 2) | |||||||
2024 | 2023 | 2024 | ||||||
OPERATING REVENUES (Note 12) | 1,710,407 | 1,400,285 | $ | 11,327,198 | ||||
OPERATING EXPENSES (Note 3.m): | ||||||||
Transportation, other services and cost of sales (Note 3.j) | 912,306 | 847,847 | 6,041,761 | |||||
Selling, general and administrative expenses | 190,719 | 177,934 | 1,263,039 | |||||
Total operating expenses | 1,103,025 | 1,025,781 | 7,304,801 | |||||
Operating income | 607,381 | 374,503 | 4,022,390 | |||||
OTHER INCOME (EXPENSES): | ||||||||
Interest and dividend income | 7,830 | 7,034 | 51,854 | |||||
Interest expense (Note 8) | (79,092) | (79,111) | (523,788) | |||||
Other-net | 9,208 | 3,706 | 60,980 | |||||
Other expenses-net | (62,053) | (68,370) | (410,947) | |||||
INCOME BEFORE INCOME TAXES | 545,328 | 306,132 | 3,611,443 | |||||
INCOME TAXES (Note 11): | ||||||||
Current | 120,511 | 41,003 | 798,086 | |||||
Deferred | 36,055 | 43,031 | 238,774 | |||||
Total income taxes | 156,567 | 84,034 | 1,036,867 | |||||
NET INCOME | 388,761 | 222,098 | 2,574,576 | |||||
NET INCOME ATTRIBUTABLE TO | ||||||||
NONCONTROLLING INTERESTS | 4,350 | 2,680 | 28,807 | |||||
NET INCOME ATTRIBUTABLE TO OWNERS OF THE PARENT | 384,411 | 219,417 | $ | 2,545,768 | ||||
Yen | U.S. Dollars | ||||||||
2024 | 2023 | 2024 | |||||||
PER SHARE OF COMMON STOCK* (Note 3.r): | |||||||||
Basic net income | 390.66 | 222.99 | $ | 2.59 | |||||
Cash dividends applicable to the year | 29.00 | 27.00 | 0.19 |
See notes to consolidated financial statements.
* Per share figures have been restated, as appropriate, to reflect the five-for-one stock split effective as of October 1, 2023.
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Central Japan Railway Company and Consolidated Subsidiaries
Consolidated Statement of Comprehensive Income
Year Ended March 31, 2024
Thousands of | ||||||||
Millions of Yen | U.S. Dollars | |||||||
(Note 2) | (Note 2) | |||||||
2024 | 2023 | 2024 | ||||||
NET INCOME | 388,761 | 222,098 | $ | 2,574,576 | ||||
OTHER COMPREHENSIVE INCOME (Note 17): | ||||||||
Unrealized gain on available-for-sale securities | 38,145 | 2,781 | 252,615 | |||||
Remeasurements of defined benefit plans | 17,575 | (1,256) | 116,390 | |||||
Share of other comprehensive income in affiliates | 181 | 8 | 1,198 | |||||
Total other comprehensive income | 55,903 | 1,533 | 370,218 | |||||
COMPREHENSIVE INCOME | 444,665 | 223,631 | $ | 2,944,801 | ||||
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO: | ||||||||
Owners of the parent | 437,332 | 220,786 | $ | 2,896,238 | ||||
Noncontrolling interests | 7,333 | 2,844 | 48,562 |
See notes to consolidated financial statements.
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