Investing in Japan: JR Central disclosed financial results

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JR Central announced its financial results for the fiscal year ending March 31, 2020. 

 Net sales decreased by 1.8% from the previous year to 1,844.6 billion yen, operating income was 656.1 billion yen, down 7.6% and net income was 397.8 billion yen, down 9.3%. 
JR Central disclosed financial results for 2020

 It is the first time in 10 years that JR Central has lost revenue and the first time in eight years that profits declined. 
JR Central disclosed financial results for 2020


Tokaido Shinkansen affected by COVID-19

Previously sales were expected to increase thanks to passengers increment of the Tokaido Shinkansen although profits were expected to decrease due to construction costs for Chuo Shinkansen utilizing the superconductive maglev system. 

 However, passengers for Tokaido Shinkansen dropped sharply and profits were depressed after March because people started to refrain from going out to contain the spread of the new coronavirus. Passengers of other local lines also seem to decline. 

 The forecast for the consolidated financial results for the fiscal year ending March 31, 2021 has not been disclosed in this announcement because the company can not foresee the impact of the infection at this time.

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