JR Tokai seeks exchange listings

Central Japan Railway Co. (JR Tokai) filed a provisional application Friday to list its shares on the Tokyo, Nagoya, Osaka and Kyoto stock exchanges, according to JR Tokai officials. JR Tokai, one of seven Japan Railway group companies created when Japanese National Railways was privatized in 1987, plans to officially apply for the exchange listings as early as June and aims for an October share debut.

The Nagoya-based firm would be the third JR group company to offer shares to the public following East Japan Railway Co. and West Japan Railway Co. JR East listed its stocks in October, 1993, and JR West’s shares were listed last October.

Following Friday’s request, the stock exchanges will begin examining whether JR Tokai meets listing requirements.

JR Tokai expects to post a pretax profit of 64.7 billion yen in the business year that ended March 31. Its pretax profit per share would be 28,883 yen, enabling the company to clear a main listing requirement of pretax profits of 20,000 yen per share.