Earnings quality
Compare earnings and operating cash flow for earnings quality.
Central Japan Railway Company
Ticker 9022 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-06-22 · Period end 2026-03-31
Takeaway
Worth trackingSales and operating profit both moved in a healthier direction.
operating margin is 41.4%.
Sales and operating profit moved together — keep watching margins and whether the trend persists next period.
ActionWorth tracking
OP margin41.4%
Equity ratio—
Last price—
Trailing P/E—
Look at next
- Compare operating cash flow to reported profit across the last two years.
- Open English IR for management commentary on outlook and capital allocation.
- Overlay peers on Compare before judging relative momentum.
About the company
東海旅客鉄道株式会社 is a Japanese listed company. Its reportable segments include Total Of, Operating Segments Not Included In, Transportation, Merchandise And Other.
- Total Of
- Operating Segments Not Included In
- Transportation
- Merchandise And Other
- Real Estate
- Other
- Description Of
- Explanation Of Measurements Of Sales Profit Loss Asset Liability And Other Items For Each
Segments Total Of · Operating Segments Not Included In · Transportation · Merchandise And Other · Real Estate · Other
Compare trends
No phone/email found in this filing · Filing date 2026-06-22
Financial statements
Income statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Revenue | ¥1.8T | ¥2.0T |
| Cost of sales* | — | — |
| Gross profit | — | — |
| Operating profit (loss) | ¥702.8B | ¥830.2B |
| Finance income | — | — |
| Finance costs | — | — |
| Income tax expense | ¥181.5B | ¥217.6B |
| Profit (loss) | ¥464.4B | ¥561.7B |
| Profit (loss) attributable to owners | ¥458.4B | ¥552.9B |
| Basic EPS (¥) | — | — |
Balance sheet
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash and cash equivalents | ¥394.7B | ¥370.6B |
| Current assets | ¥1.9T | ¥1.7T |
| Non-current assets | ¥8.4T | ¥9.2T |
| Total assets | ¥10.3T | ¥10.9T |
| Short-term borrowings | ¥35.1B | ¥37.5B |
| Current liabilities | ¥782.3B | ¥932.1B |
| Non-current liabilities* | ¥4.9T | ¥4.8T |
| Total liabilities | ¥5.7T | ¥5.7T |
| Equity attributable to owners | — | — |
| Total equity | — | — |
Cash flow statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash flows from operating activities | ¥624.5B | ¥748.2B |
| Cash flows from investing activities | — | — |
| Cash flows from financing activities | -¥95.5B | -¥150.9B |
| Net increase (decrease) in cash | -¥427.0B | -¥24.1B |
| Cash at end of period | ¥394.7B | ¥370.6B |
Five-year trends
Key metrics
| Metric | Trend | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Revenue | — | — | — | ¥1.8T | ¥2.0T | |
| Operating profit | -¥67.3B | ¥307.5B | ¥546.9B | ¥649.3B | ¥780.9B | |
| Profit to owners | — | — | — | ¥458.4B | ¥552.9B | |
| Total assets | ¥9.5T | ¥9.5T | ¥9.9T | ¥10.3T | ¥10.9T | |
| Cash & equivalents | — | — | ¥821.7B | ¥394.7B | ¥370.6B | |
| Owners’ equity | ¥3.6T | ¥3.8T | ¥4.2T | ¥4.7T | ¥5.1T |
How we read these numbers
From the notes
No material one-offs extracted from this filing.
Constructive
Sales and operating profit both moved in a healthier direction.
On the income statement, revenue moved from ¥1.8T to ¥2.0T (▲ +9.5%), so the top line did not break. Gross profit only slipped from — to —, while operating profit swung from ¥702.8B to ¥830.2B — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still ¥748.2B (prior ¥624.5B), and cash on the balance sheet rose to ¥370.6B from ¥394.7B. When profits collapse but operating cash stays positive, read the notes for impairments and other non-cash charges before assuming the business stopped generating cash.
The balance sheet got heavier on leverage. Total liabilities rose to ¥5.7T while owners’ equity fell to —. ROE moved from 10.5% to 11.4%, and the equity ratio from 44.6% to 46.6%. Employee count is 29,569 vs 29,144 a year earlier.
Liquidity & leverage
Short-term borrowing levels look more stable year over year.
Capital buffer
Capital structure held relatively steady.
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Source: EDINET S100YD7H
(東海旅客鉄道株式会社), period end 2026-03-31.