# JR Railways industry map (FY2025)

> Scope: 4 businesses (segment level)
> Unit: JPY millions. Each company's period is in the Period column
> Fiscal year: FY2025 = periods ending Apr 2025 to Mar 2026
> Page: https://vizora.meequs.com/en/industry/railways-jr
> Retrieved: 2026-09-30T17:53:57.032Z

## Size and profitability

| # | Company (business) | Revenue | Share | Op. income | Op. margin | CAGR | Period |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| 1 | East Japan Railway Company（Transportation） | 2,045,840 | 41.1% | 194,414 | 9.5% | +12.5%（4y） | FY ending Mar 2026 |
| 2 | Central Japan Railway Company（Transportation） | 1,641,663 | 33.0% | 767,472 | 46.7% | +23.4%（4y） | FY ending Mar 2026 |
| 3 | West Japan Railway Company（Mobility） | 1,105,693 | 22.2% | 130,920 | 11.8% | — | FY ending Mar 2026 |
| 4 | Kyushu Railway Company（Transportation） | 185,724 | 3.7% | 23,976 | 12.9% | +16.9%（4y） | FY ending Mar 2026 |

## Company-wide structure (¥100 model, FCF)

| Company | COGS | SG&A etc. | Op. income | Net income | FCF (JPY mn) | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| East Japan Railway Company | — | 87円 | 13円 | 8円 | -122,989 | — |
| Central Japan Railway Company | — | 59円 | 41円 | 28円 | 224,056 | — |
| West Japan Railway Company | — | 89円 | 11円 | 7円 | 78,495 | — |
| Kyushu Railway Company | — | 85円 | 15円 | 9円 | -13,058 | — |

## Ownership links

| Company | Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: | ---: |
| Central Japan Railway Company | 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 12.6% | 2026-03-31 |
| Central Japan Railway Company | 株式会社日本カストディ銀行（信託口） | Major shareholder | 4.7% | 2026-03-31 |
| Central Japan Railway Company | 野村信託銀行株式会社（退職給付信託三菱ＵＦＪ銀行口） | Major shareholder | 3.7% | 2026-03-31 |
| Central Japan Railway Company | 株式会社みずほ銀行 | Major shareholder | 2.8% | 2026-03-31 |
| Central Japan Railway Company | 日本生命保険相互会社 | Major shareholder | 2.4% | 2026-03-31 |
| Central Japan Railway Company | 株式会社三菱ＵＦＪ銀行 | Major shareholder | 1.8% | 2026-03-31 |
| Central Japan Railway Company | 農林中央金庫 | Major shareholder | 1.8% | 2026-03-31 |
| Central Japan Railway Company | STATE STREET BANK AND TRUST COMPANY 505001 （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 1.6% | 2026-03-31 |
| Central Japan Railway Company | ＪＲ東海社員持株会 | Major shareholder | 1.6% | 2026-03-31 |
| Central Japan Railway Company | 住友生命保険相互会社 | Major shareholder | 1.4% | 2026-03-31 |
| West Japan Railway Company | 日本マスタートラスト信託銀行株式会社(信託口) | Major shareholder | 14.3% | 2026-03-31 |
| West Japan Railway Company | 株式会社日本カストディ銀行(信託口) | Major shareholder | 4.6% | 2026-03-31 |
| West Japan Railway Company | STATE STREET BANK AND TRUST COMPANY 505001 (常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 2.8% | 2026-03-31 |
| West Japan Railway Company | STATE STREET BANK AND TRUST COMPANY 505301 (常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 2.2% | 2026-03-31 |
| West Japan Railway Company | 株式会社三井住友銀行 | Major shareholder | 2.0% | 2026-03-31 |
| West Japan Railway Company | 株式会社三菱UFJ銀行 | Major shareholder | 1.9% | 2026-03-31 |
| West Japan Railway Company | 日本生命保険相互会社 | Major shareholder | 1.6% | 2026-03-31 |
| West Japan Railway Company | JP MORGAN CHASE BANK 385781 (常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 1.4% | 2026-03-31 |
| West Japan Railway Company | JR西日本社員持株会 | Major shareholder | 1.4% | 2026-03-31 |
| West Japan Railway Company | JPモルガン証券株式会社 | Major shareholder | 1.1% | 2026-03-31 |
| Kyushu Railway Company | 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 12.8% | 2026-03-31 |
| Kyushu Railway Company | JP MORGAN CHASE BANK 385642 （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 4.2% | 2026-03-31 |
| Kyushu Railway Company | 株式会社日本カストディ銀行（信託口） | Major shareholder | 3.8% | 2026-03-31 |
| Kyushu Railway Company | THE CHASE MANHATTAN BANK,N.A. LONDONSECS LENDING OMNIBUS ACCOUNT （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 2.6% | 2026-03-31 |
| Kyushu Railway Company | 太陽生命保険株式会社 | Major shareholder | 2.1% | 2026-03-31 |
| Kyushu Railway Company | ＪＰモルガン証券株式会社 | Major shareholder | 1.9% | 2026-03-31 |
| Kyushu Railway Company | 株式会社日本カストディ銀行（信託口４） | Major shareholder | 1.6% | 2026-03-31 |
| Kyushu Railway Company | 日本生命保険相互会社 | Major shareholder | 1.5% | 2026-03-31 |
| Kyushu Railway Company | 明治安田生命保険相互会社 | Major shareholder | 1.5% | 2026-03-31 |
| Kyushu Railway Company | STATE STREET BANK AND TRUST COMPANY 505001 （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 1.5% | 2026-03-31 |
| East Japan Railway Company | 日本マスタートラスト信託銀行株式会社(信託口) | Major shareholder | 13.6% | 2026-03-31 |
| East Japan Railway Company | 株式会社日本カストディ銀行(信託口) | Major shareholder | 4.6% | 2026-03-31 |
| East Japan Railway Company | JR東日本グループ社員持株会 | Major shareholder | 3.7% | 2026-03-31 |
| East Japan Railway Company | 株式会社みずほ銀行 (常任代理人 株式会社日本カストディ銀行) | Major shareholder | 2.8% | 2026-03-31 |
| East Japan Railway Company | 日本生命保険相互会社 (常任代理人 日本マスタートラスト信託銀行株式会社) | Major shareholder | 1.9% | 2026-03-31 |
| East Japan Railway Company | STATE STREET BANK AND TRUST COMPANY 505001 (常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 1.8% | 2026-03-31 |
| East Japan Railway Company | 株式会社三井住友銀行 | Major shareholder | 1.5% | 2026-03-31 |
| East Japan Railway Company | JP MORGAN CHASE BANK 385781 (常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 1.4% | 2026-03-31 |
| East Japan Railway Company | 三菱UFJ信託銀行株式会社 (常任代理人 日本マスタートラスト信託銀行株式会社) | Major shareholder | 1.3% | 2026-03-31 |
| East Japan Railway Company | 株式会社三菱UFJ銀行 | Major shareholder | 1.2% | 2026-03-31 |

## Company details

- https://vizora.meequs.com/en/company/east-japan-railway/md
- https://vizora.meequs.com/en/company/central-japan-railway/md
- https://vizora.meequs.com/en/company/west-japan-railway/md
- https://vizora.meequs.com/en/company/kyushu-railway/md

## Definitions

- Amounts are in millions of JPY (rounded). The period is stated in each table heading
- Operating margin = operating income ÷ revenue. Net income is attributable to owners of the parent when disclosed
- Free cash flow (FCF) = operating cash flow − capital expenditure
- ¥100 model = breakdown per ¥100 of revenue (rounded so parts sum to 100)
- Segment revenues include inter-segment sales and may not sum to consolidated revenue
- Source IDs are EDINET document IDs (docID). "算出" (derived) means computed from other disclosed values
- All figures are extracted mechanically from filings. AI-written text never generates figures
- Source: company filings submitted to EDINET (Financial Services Agency of Japan). Figures were extracted, edited and processed, and charts and text were created, by Vizora — not by the FSA (used under the Public Data License v1.0).