JR Tokai’s net profit jumps 34.7%

Central Japan Railway Co. said May 23 that it posted a pretax profit of 66.3 billion yen in the 1996 business year, up 6.1 percent from the previous year, on operating revenues of 1.15 trillion yen.

Its net profit jumped 34.7 percent to 33.9 billion yen in the year ending March 31, said the Nagoya-based firm, also known as JR Tokai. Operating profit grew to 380 billion yen, which marked the highest since the railway began operating in 1987 as a spinoff of the former state-run Japanese National Railways.

The good performance was supported by increased revenue from bullet train service and active marketing efforts, the firm said. In 1987, JNR was privatized and separated into six JR group companies.