Annual Report 2019For the Year Ended March 31, 2019

CENTRAL JAPAN RAILWAY COMPANY

CENTR

AL JAPAN R

AILWAY CO

MPAN

Y Annual Report 2019

Other

125.9billion yen

7%

Real Estate

49.6billion yen

3%

Merchandise and Other

253.3billion yen

13%

1,878.1FY2018

Consolidated

billion yen

Other

68.2billion yen

5%

ConventionalLines

104.8billion yen

7%

1,464.8FY2018

billion yen

Non-consolidated

CENTRAL JAPAN RAILWAY COMPANY Annual Report 2019 Management Philosophy

Contribute to the development of Japan’s main transportation artery and social infrastructureJapan’s Main Transportation Artery Social Infrastructure JR Central’s mission is to undertake high-speed, large-capacity passenger transport between Tokyo, Nagoya, and Osaka. “Japan’s main transportation artery” refers to this passenger transport. Since the artery runs through this area of Japan, which plays an important role as the center of the country’s economy and culture, it is possible that stagnancy in the main transportation artery will cause Japan’s economic and societal movements in general to also stagnate. JR Central must continue to carry out its mission of managing Japan’s main transportation artery today and in the future through operation of the Tokaido Shinkansen and the Chuo Shinkansen.

On a broader perspective, JR Central also undertakes the mission of supporting the social infrastructure. That is, along with the management of Japan’s main artery, we take a locally oriented approach in operating a network of conventional lines in the Tokai Region, centered on the Nagoya and Shizuoka areas, and manage affiliated business focused on the local communities, thereby supporting the people in these areas. We will remain committed to operating conventional lines while managing and further enhancing affiliated businesses.

The transportation business accounts for approximately 80% of consolidated operating revenues and earnings from the Tokaido Shinkansen account for roughly 90% of non-consolidated operating revenues.

Operating Revenues Composition

Transportation 1,449.1 billion yen

Tokaido Shinkansen 1,291.8 billion yen

77% 88%

Note 1: Consolidated operating revenues composition is based on revenues from external customersNote 2: The total of items in the breakdown may not be 100% due to rounding.

Contents

* Environmental, Social, and Governance.Companies appropriately considering/responding to ESG issues and the existence of shareholders who make investments in response to such efforts by the companies are thought to lead to the solution/improvement of global environmental issues and social issues and even to the sound development/expansion of capital markets, thus contributing to the establishment of a sustainable society. Source: Japan Exchange Group, Inc.

[Remarks regarding forecasts, etc.]Future plans, forecast figures, etc. in this report are an outlook based on the information that is currently available for JR Central and may contain risks and uncertainty. Examples of potential risks and uncertainty include economic trends, business environment developments, consumption trends, competition situation for JR Central and subsidiaries, and changes in relevant laws and legal provisions. This report is compiled based on information available as of the end of May 2019 in principle.• In this report, figures of financial information are truncated, while statistical data and all percentages are rounded.• FY2018 signifies the fiscal year ended March 31, 2019.

Management Philosophy

Operating Revenues Composition

Contents

Market Area Characteristics and Transportation Capacity

Enhancing Our Competitive Strength

1

6

10

32

47484950

82

52

84

5354

85

2

8

14

36

18

38

4046

22

24

2628

29

30

4

CENTRAL JAPAN RAILWAY COMPANY

Engagement in Global Environment Preservation

Human Resources Development

Cooperation with Local Communities / International Exchanges / Restoration of Culture & Art and Lifelong Learning

Corporate Governance

Directors, Audit and Supervisory Board Members, and Executive Officers

ESG* Information

Greetings

Interview with the President

Messages from the Management

Profile / Organization Chart

Operating Area

History

Summary of Performance

Financial Highlights(Consolidated, Non-consolidated)

Other Related Materials

Financial Section

Corporate Data

Key Measures and Capital Investment

Ensuring Safe and Reliable Transportation

Enhancing Transportation Services

Promoting the Chuo Shinkansen Project Using the Superconducting Maglev System

Refining the Superconducting Maglev Technology and Reducing Costs

Enhancing Sales and Marketing

Technological Development and Enhancement of Technical Capability

Overseas Deployment of High-Speed Railway Systems

Developing Affiliated Businesses

Key Measures and Management Strategies

Financial and Transportation Data

Financial Data Comparison of Three JR Companies (Consolidated)

Stock Information

Appendices

1CENTRAL JAPAN RAILWAY COMPANY Annual Report 2019