March 26, 2020 Central Japan Railway Company (JR Central) Key Measures and Capital Investment in the Fiscal Year Ending March 31, 2021 In the fiscal year ending March 31, 2021 (FY2020), we will continue to place the highest priority on ensuring safe and reliable transportation. At the same time, we will steadily move forward with our efforts in promoting earthquake countermeasures, including derailment and deviation countermeasures for the Tokaido Shinkansen, and carrying out large-scale renovation work on civil engineering structures. We will also strive to enhance our transportation services. For example, we will set more flexible train services in accordance with demand by applying the "12 Nozomi Timetable" and commence to launch the next-generation Shinkansen N700S. In addition, looking ahead to the Olympic and Paralympic games, we will make efforts to serve many customers in Japan and overseas so that they can use our services comfortably. We will proceed steadily with the Chuo Shinkansen Project introducing the Superconducting Maglev System, while giving serious consideration to the safety of construction work, environmental preservation, and coordination with local communities. We will also make steady steps toward deploying the high-speed railway system overseas. In the segment of affiliated businesses, we will operate JR Central Towers and JR Gate Tower integrally and demonstrate synergic effects to boost earnings. In order to steadily move forward with these initiatives continuously, JR Central will continue to work on strengthening its earning power and improving its technological capabilities. We will also strive to enhance efficiency and reduce costs by exercising wisdom over business execution overall, including making capital investments, with a view to enhancing management capabilities. Currently, nationwide efforts are being made to prevent the spread of a new coronavirus (COVID-19). In the tough business environment, we will also work to prevent the spread of infection and tackle a wide range of challenges, including various schemes for enhancing transportation services and the Chuo Shinkansen Project while giving the highest priority to ensuring safe and reliable transportation. I. Key Measures (refer to the attachment) ■ Ensuring Safe and Reliable Transportation ■ Enhancing Transportation Services ■ Promoting the Chuo Shinkansen Project Introducing the Superconducting Maglev System ■ Brushing up Superconducting Maglev Technology and Reducing Costs ■ Enhancing Sales and Marketing ■ Promoting Technological Development, Engaging in Global Environment Preservation, Deploying the High- Speed Railway System Overseas ■ Steadily Promoting Affiliated Businesses II. Capital Investment Amount Consolidated: 718.0 billion yen; non-consolidated 688.0 billion yen *1. Chuo Shinkansen: 380.0 billion yen *2. Capital investment excluding that for the Chuo Shinkansen (non-consolidated) amounts to 308.0 billion yen, of which 234.0 billion is investment related to safety. Ensuring Safe and Reliable Transportation (Capital investment amount: 149.0 billion yen) JR Central will work to further reinforce structures along with earthquake countermeasures. • Advance construction work for the installation of derailment prevention guards for the entire Tokaido Shinkansen line as part of implementing derailment and deviation prevention measures. • Proceed with the implementation of measures to prevent suspended ceilings at stations from falling in the event of an earthquake and reinforcing the quake resistance of the Nagoya Workshop, viaduct pillars of conventional lines, etc. • Steadily proceed with large-scale renovation of the Tokaido Shinkansen while making efforts to achieve cost reductions by introducing the results of technological development and improving construction methods. Large-scale renovation JR Central will work to provide safe and smooth transportation services and proper information on train operations • Respond promptly and appropriately to various situations caused by increasingly intensified natural disasters, epidemics of new infectious diseases, etc. to ensure safety. • When typhoons, heavy rain or other climate conditions are expected to have a major impact on train operation, place the highest priority on ensuring safety and determine the appropriate train operation plan, including prompt suspension of operations. If train operations are suspended, make efforts to resume operations in a timely manner after confirming safety, while providing information on train operations in a more prompt and precise manner. • Consider measures for various facilities against natural disasters based on hazard maps, etc. • Work to ensure safety at stations, trains, etc., and provide smooth transportation services by starting an advance reservation system for an oversized baggage areas and the centralized monitoring system of station security cameras at Tokaido Shinkansen. Advance reservation system for an oversized baggage area (publicity poster) (Reference)・Laying derailment prevention guards: FY2020 approximately 59 km ・Measures to prevent suspended ceilings at stations from falling: All 17 Tokaido Shinkansen ・ Large-scale renovation: FY2020 40.0 billion yen (FY2019 to FY2022 136.0 billion yen) stations, 30 conventional line stations (FY2016 to FY2026 approximately 13.0 billion yen) Enhancing Transportation Services (1) (Capital investment amount: 93.0 billion yen *Total for (1) and (2)) JR Central will continue to work to enhance transportation services by the application of the “12 Nozomi Timetable” realized in March 2020 and other methods. Tokaido Shinkansen • Work on setting more flexible train services in accordance with demand during seasons and time frames with increased customer use. Do this by applying the “12 Nozomi Timetable” which all trains are operated at a maximum speed of 285 km/h in conjunction with securing rolling stock consistency. • Start operating the next-generation Shinkansen N700S in July 2020. This will enable us to increase safety and stability by reducing the stopping distance of the Earthquake Brake and strengthening the monitoring function and to reinforce our ability to respond to extraordinary situations by adopting a battery-based, self- N700S running system, and other features. Conventional lines • Flexibly increase the frequency and number of cars in train services to meet demand for express trains, such as for Shinano and Hida. • Make advance preparations for design, etc. toward new production of the new type commuter train Series 315 that offers greater safety and stability. • Expand stations where the centralized passenger service system are installed to the Tokaido Line (Obu Station - Okazaki Station) and Kansai Line (Nagoya Station – Kuwana Station). Series 315 (sample illustration) ・ (Reference) N700S: FY2020 Launch 12 trainsets (Launch 40 trainsets from FY2020 to FY2022) ・Series 315: Newly produce 352 cars from FY2021 to FY2025 Enhancing Transportation Services (2) JR Central will move ahead with the implementation of facilities, etc., so that customers can use railways with a greater sense of convenience and security. • Continue to proceed with the installation of movable platform fences on the Tokaido Shinkansen platforms at Shin-Osaka Station, and begin using the fences on platforms No. 23 and No. 24. Meanwhile, for conventional lines, promote the installation of the fences on the Tokaido Line platform at Kanayama Station and begin using the fences on the platform for Toyohashi-bound trains. • Work on reviews from various angles for improvements so that customers using a wheelchair can use the Tokaido Shinkansen more conveniently and more Large-opening movable platform fence of platform comfortably. No. 26 at Shin-Osaka Station • Continue the plans for new installation of free passageways and for renovation of stations and begin sharing the plans between Kuwana Station and Kanie Station in sequence. In addition, proceed with preparatory work for improvements, including widening of platforms and installation of movable platform fences for Kariya Station. • Continue the replacement work for the installation of braille blocks with a line that indicates where the inner platform edge is located, at stations on conventional lines servicing 1,000 or more passengers. • Promote the installation of barrier-free facilities at stations on conventional lines, such as elevators and multifunction toilets. Kuwana Station (sample illustration of a free passageway and an over-track station) ・ (Reference) Movable platform fence: Shin-Osaka Station: To complete installations by FY2022 for platforms #20 through #24. (Completed ・Braille blocks with a line that indicates the inner platform edge installations on platforms #25 to #27) Stations servicing 1,000 to 2,999 passengers: 8 stations (FY2020) To start operation on platform #24 in July 2020 and #23 in March 2021 Kanayama Station: To start operation on the platform for Toyohashi-bound trains in March 2021 and on the platform for Nagoya-bound trains in December 2021 Promoting the Chuo Shinkansen Project Introducing the Superconducting Maglev System (Capital investment amount: 380.0 billion yen) JR Central will proceed steadily with construction work in respective areas of the line while giving serious consideration to construction safety, environmental preservation, and coordination with towns and cities along the planned route. • As for the Chuo Shinkansen Project, maintain sound management and stable dividends, and take steady steps with a greater