Nagoya Railroad Co., Ltd.
9048・Prime Market・Land Transportation
Governance
The company has a Board of Corporate Auditors. The Board of Directors consists of 10 directors (of which 4 are outside directors, a 40% outside ratio), and there are 5 corporate auditors (of which 3 are outside auditors). A Nomination and Compensation Advisory Committee (comprising 4 outside directors and 2 representative directors, 6 members in total) has been established under the Board of Directors, forming a structure that obtains the involvement and advice of independent outside directors.
Risk Management
Established the "Meitetsu Group Risk Management Basic Policy" and the "Meitetsu Group Risk Management Operating Rules," and set up a Risk Management Committee chaired by the President. Risk management promotion officers have been assigned to each business division, building a group-wide framework to prevent and mitigate risks before they materialize. Regarding climate change risk, scenario analyses based on 2°C and 4°C scenarios have been conducted in line with TCFD recommendations, quantitatively assessing financial impacts such as the introduction of a carbon tax (a cost increase of ¥5,815 million under the 2°C scenario) and rising fuel costs (a cost increase of ¥14,488 million under the 4°C scenario).
Shareholder Returns
From FY2027 (ending March 2027), the company will maintain a consolidated payout ratio of 30% or more and has set a minimum dividend of ¥60 per share. The year-end dividend for FY2026 (ending March 2026) is ¥40 per share (total dividends of ¥7,846 million, payout ratio of 34.2%). The forecast for FY2027 (ending March 2027) is ¥60 per share.
Dividend Policy
The basic policy is to strive for stable management over the long term in order to fulfill the public mission of the Railway Business. From FY2027 (ending March 2027), the company will maintain a consolidated payout ratio of 30% or more, and to ensure stability of shareholder returns, it has set a minimum annual dividend of ¥60 per share. The basic policy is to pay dividends once a year at fiscal year-end. The year-end dividend for FY2026 (ending March 2026) is ¥40 per share (total dividends of ¥7,846 million, payout ratio of 34.2%). The forecast for FY2027 (ending March 2027) is ¥60 per share (forecast payout ratio of 30.2%).
ESG
Under the Meitetsu Group Sustainability Basic Policy established in 2021, the company has identified five materiality themes: environmental preservation, safety and security, enhancement of regional value, human capital development, and strengthening of governance. On climate change response, following its endorsement of TCFD (April 2022), the company has set a target of reducing group-consolidated CO2 emissions by 25% in FY2030 (ending March 2031) compared to FY2020 (ended March 2021) levels, and has introduced internal carbon pricing (¥5,000/t-CO2) from FY2024 (ended March 2025). Regarding human capital, the company has set KPIs such as raising the ratio of female managers to 30% or more by FY2030 (ending March 2031) (actual result of 7.2% in FY2025, ended March 2025) and achieving a 100% childcare leave utilization rate (actual result of 82.0%), while advancing health-oriented management, respect for human rights, and DE&I initiatives.
Last updated: June 24, 2026