West Japan Railway Co

9021: XTKS (JPN)

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Real Estate Developments to Drive Longer-Term Growth for JR West

Adrian Atkins

Nov 6, 2025

Business Strategy and Outlook

West Japan Railway, or JR West, is the main railway operator in western Honshu, headquartered in Osaka. Two-thirds of prepandemic operating income was from rail services, close to 20% from real estate, 10% from travel agency services and hotels, and 3% from retail operations. Rail services include long-distance bullet train lines, known as Shinkansen, and conventional train lines in the Kyoto-Osaka-Kobe metropolitan area and in regional areas.

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West Japan Railway Co

Real Estate Developments to Drive Longer-Term Growth for JR West

Business Strategy and Outlook

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