Ensuring Sound and Transparent Finance

Given that the Group’s operations are centered on the railway business, which is highly public in nature and requires significant capital investment, we place particular emphasis on ensuring financial soundness and transparency. We have positioned the ratio of net interest-bearing debt to EBITDA* as a key indicator of our financial soundness and continue to improve this ratio to achieve both business growth and financial soundness. With regard to transparency, we take initiatives to establish and implement mechanisms to ensure fair and equitable business activities, and to disclose corporate information to stakeholders in a fair, timely, and appropriate manner.

*EBITDA: Operating income + Dividend income + Depreciation and amortization