and the operating income 87.5 billion yen (top line proportion 22.9%). The top line and the operating income forehead of the railway division follow the JR3 company, and the profit ratio is a comparable, top level in JR East Sea earned in Tokaido Shinkansen.
A present route extension is 195.1 kilometers (working kilometer), and it enters five fingers in a private railroad if JR is excluded. The mainstay in nine routes who owns it is building an exact transfer network in the JR Yamanote Line, and the passenger transportation number of men and passenger traffic receipts of one kilo average are the head position classes in the private railway.
The rating of ranking investment information center (R&I) is "AA". Subordinated, JR East Sea, West Japan, and the same rank of East Japan Railway in AA +. ｢The stability of management with the base in the central area of Tokyo where the population concentration continues is assessed. There are not a lot of debts of the cash flow comparison, and either the leading group in the railroad. ｣(Yo Yamamoto and R&I chief analyst)｡
However, the share is still a unlisting. It is because Teito Rapid Transit Authority (Corporation subway) that is juridical person in a public law is the antecedent, a complete privatization in the future is decided by the administrative reform, Tokyo Metro Co., Ltd. starts in April, '04, and it aims at the listing until current year by the medium term plan.
A stall, an inside hanging in the yard, and sidelines except the advertisement income in the station have been prohibited, and most of sales is still a railway operation in the Corporation age. A business structure in the listed company near the JR3 company.
Lumine, an electric railway system department store of JR or the ratio is a small compared with the real estate development business of each company though the deployment of underground commercial facility "Etchika" has been accelerated because the aggressive making the related business became possible after the Tokyo metro starts. In this, it is a cause that its own possession real estate of the Tokyo metro is narrow only in the underground room the unemployed capital area overwhelmingly basically, and not easy the diversion to the eating and drinking and the commercial facility because of the under of the road in the central area of Tokyo as for it.
- An appropriate stock price is 1050 yen in case of the listing major level price book-value ratio.
1927(1927) The Tokyo subway that Hayakawa Tokuji of Mr. et al. started up is Asakusa on the age December 30- Start of first subway business in Japan in Kaminoma. Present Ginza Line, and this company digs from Shibuya to Shinbashi after the lingua of the drawer and is an integration lingua at the end of the Tokyo rapid-transit railway and the right of administration competition of Mr. Keita Goto (the following Tokyu group founder) who is advanced.
Japanese National Railways and Tokyo halve holdings in the war footing and the Yamanote Line internal subway business is unified to Teito Rapid Transit Authority.
Shareholders in a present Tokyo metro are two people (53.4% in the country and 46.6% in Tokyo) though the capital starts underground railway construction back, and the under metropolitan management subway was started in a traffic bureau.
Holdings of both are lost in case of a complete privatization. The emission scenario of the quota share is thick at the listing. Here, the stock value of a present Tokyo metro is estimated by assumption without issuing of new shares. It is nine companies with large market capitalization in the listing railroad that referred.
The deviation of price earnings ratio (PER) most often used as an indicator that shows the overvalued and cheap of the stock price, a marketplace ordinary average or JR3 company of modestly-priced a little and a considerable level with other private railways of the overvalued is intense.
As for rails, business fluctuations are not greatly controlled easily by the Difenshib share related to the society's infrastructure compared with manufacture as well as the electric power company. Then, the estimate that used price book-value ratio (PBR) was attempted. The average price book-value ratio of nine listing companies is 2.01 times. If the 1 strain net assets 524.3 yen of the Tokyo metro is spent, the stock price becomes 1052 yen. Reverse operation lingua PER (results base of end of the period of March, '09) increased here by a factor of 14.1.
The market capitalization estimated from 581 million issued shares shares is 611.2 billion yen. It becomes a level in 5th place in all listing railroad including the JR3 company.
The purchase applicant will a lot go out if there must be a lot of individual investors who use the Tokyo metro, too and the shareholder preferential treatment such as the discount coupon tickets like other private railways adheres.
Stable growth seems to continue to earnings after the listing. It is because of "The Tokyo metro is stable on the short distance main force and the weekend as the going out route" (Hicaricai Takahashi and Mizuho bond senior credit analyst) though dropping the business long distance demand such as Shinkansen is intense because of the recession.
- M&A of the other companies unifies it to the difficulty by middle term with under metropolitan management.
When depopulation will become full-scale in 5-10 years in the future, the probability of the real estate business that the railroad handles that the setback is done through necessity as for moderation and the circulation business is large. Is two horn difficult problem that living by the railway operation remains with the liquidation of a diversified business Noshi in each company or it drives it. Victory Otoyab becomes clear, and the private railway in the depopulation region becomes the target of the reorganization (merger). In that case, the railroad in the sparsely populated district receives the public support, becomes the third sector, and there may be a policy measures that attempts the maintenance of the transport infrastructure in the region, too.
However, the private railway in the central area of Tokyo is too large the dimension and might not be received the support of a country and a ground public body enough. Then, it surfaces to the alternative with powerful business integration with "Winner" private railway in the vicinity. A Tokyo metro superior to the cash flow creation power might spring up to the leading part of the reorganization as a eye of the storm on the purchaser side.
On the other hand, the unification problem with the under metropolitan management subway is fumigated as an uncertainty. There is mutually a discount in the transfer of both lines though it is a rival, and station numbering is shared. Tokyo is positive in the integration of two horn subway among big share holders in the Tokyo metro.
The period on March, '09 of the under metropolitan management subway is an operating revenue 139.9 billion yen, and 21.7 billion yen of the operating income. Enormous amount of accumulated deficit of 443.2 billion yen remains though increase both in sales and profits. If Tokyo becomes head of shareholders by the holdings emission (The financial crisis countermeasure and the clearance of the government-owned stock holdings type is a moratorium inside now) in the country, early integration has the possibility that the unification argument is activated again though it is not realistic.
There may be a risk that a constant burden increase is urged at the integration of the new line development etc. as the obligation of former Japan National Railways was adding borne as for the JR3 company after the listing, too.
Integration with under metropolitan management is not discount to the rating of a present Tokyo metro. Though the expectation that becomes a rate schedule to which the subway whole line in the central area of Tokyo is unified comes out if it thinks in user's standpoint.
http://www.toyokeizai.net/business/strategy/detail/AC/a2c18169bfe6ad02831a3093936d74f8/page/1/
Japan is good country!
http://japan-power.net/
PLEASE come here!
A present route extension is 195.1 kilometers (working kilometer), and it enters five fingers in a private railroad if JR is excluded. The mainstay in nine routes who owns it is building an exact transfer network in the JR Yamanote Line, and the passenger transportation number of men and passenger traffic receipts of one kilo average are the head position classes in the private railway.
The rating of ranking investment information center (R&I) is "AA". Subordinated, JR East Sea, West Japan, and the same rank of East Japan Railway in AA +. ｢The stability of management with the base in the central area of Tokyo where the population concentration continues is assessed. There are not a lot of debts of the cash flow comparison, and either the leading group in the railroad. ｣(Yo Yamamoto and R&I chief analyst)｡
However, the share is still a unlisting. It is because Teito Rapid Transit Authority (Corporation subway) that is juridical person in a public law is the antecedent, a complete privatization in the future is decided by the administrative reform, Tokyo Metro Co., Ltd. starts in April, '04, and it aims at the listing until current year by the medium term plan.
A stall, an inside hanging in the yard, and sidelines except the advertisement income in the station have been prohibited, and most of sales is still a railway operation in the Corporation age. A business structure in the listed company near the JR3 company.
Lumine, an electric railway system department store of JR or the ratio is a small compared with the real estate development business of each company though the deployment of underground commercial facility "Etchika" has been accelerated because the aggressive making the related business became possible after the Tokyo metro starts. In this, it is a cause that its own possession real estate of the Tokyo metro is narrow only in the underground room the unemployed capital area overwhelmingly basically, and not easy the diversion to the eating and drinking and the commercial facility because of the under of the road in the central area of Tokyo as for it.
- An appropriate stock price is 1050 yen in case of the listing major level price book-value ratio.
1927(1927) The Tokyo subway that Hayakawa Tokuji of Mr. et al. started up is Asakusa on the age December 30- Start of first subway business in Japan in Kaminoma. Present Ginza Line, and this company digs from Shibuya to Shinbashi after the lingua of the drawer and is an integration lingua at the end of the Tokyo rapid-transit railway and the right of administration competition of Mr. Keita Goto (the following Tokyu group founder) who is advanced.
Japanese National Railways and Tokyo halve holdings in the war footing and the Yamanote Line internal subway business is unified to Teito Rapid Transit Authority.
Shareholders in a present Tokyo metro are two people (53.4% in the country and 46.6% in Tokyo) though the capital starts underground railway construction back, and the under metropolitan management subway was started in a traffic bureau.
Holdings of both are lost in case of a complete privatization. The emission scenario of the quota share is thick at the listing. Here, the stock value of a present Tokyo metro is estimated by assumption without issuing of new shares. It is nine companies with large market capitalization in the listing railroad that referred.
The deviation of price earnings ratio (PER) most often used as an indicator that shows the overvalued and cheap of the stock price, a marketplace ordinary average or JR3 company of modestly-priced a little and a considerable level with other private railways of the overvalued is intense.
As for rails, business fluctuations are not greatly controlled easily by the Difenshib share related to the society's infrastructure compared with manufacture as well as the electric power company. Then, the estimate that used price book-value ratio (PBR) was attempted. The average price book-value ratio of nine listing companies is 2.01 times. If the 1 strain net assets 524.3 yen of the Tokyo metro is spent, the stock price becomes 1052 yen. Reverse operation lingua PER (results base of end of the period of March, '09) increased here by a factor of 14.1.
The market capitalization estimated from 581 million issued shares shares is 611.2 billion yen. It becomes a level in 5th place in all listing railroad including the JR3 company.
The purchase applicant will a lot go out if there must be a lot of individual investors who use the Tokyo metro, too and the shareholder preferential treatment such as the discount coupon tickets like other private railways adheres.
Stable growth seems to continue to earnings after the listing. It is because of "The Tokyo metro is stable on the short distance main force and the weekend as the going out route" (Hicaricai Takahashi and Mizuho bond senior credit analyst) though dropping the business long distance demand such as Shinkansen is intense because of the recession.
- M&A of the other companies unifies it to the difficulty by middle term with under metropolitan management.
When depopulation will become full-scale in 5-10 years in the future, the probability of the real estate business that the railroad handles that the setback is done through necessity as for moderation and the circulation business is large. Is two horn difficult problem that living by the railway operation remains with the liquidation of a diversified business Noshi in each company or it drives it. Victory Otoyab becomes clear, and the private railway in the depopulation region becomes the target of the reorganization (merger). In that case, the railroad in the sparsely populated district receives the public support, becomes the third sector, and there may be a policy measures that attempts the maintenance of the transport infrastructure in the region, too.
However, the private railway in the central area of Tokyo is too large the dimension and might not be received the support of a country and a ground public body enough. Then, it surfaces to the alternative with powerful business integration with "Winner" private railway in the vicinity. A Tokyo metro superior to the cash flow creation power might spring up to the leading part of the reorganization as a eye of the storm on the purchaser side.
On the other hand, the unification problem with the under metropolitan management subway is fumigated as an uncertainty. There is mutually a discount in the transfer of both lines though it is a rival, and station numbering is shared. Tokyo is positive in the integration of two horn subway among big share holders in the Tokyo metro.
The period on March, '09 of the under metropolitan management subway is an operating revenue 139.9 billion yen, and 21.7 billion yen of the operating income. Enormous amount of accumulated deficit of 443.2 billion yen remains though increase both in sales and profits. If Tokyo becomes head of shareholders by the holdings emission (The financial crisis countermeasure and the clearance of the government-owned stock holdings type is a moratorium inside now) in the country, early integration has the possibility that the unification argument is activated again though it is not realistic.
There may be a risk that a constant burden increase is urged at the integration of the new line development etc. as the obligation of former Japan National Railways was adding borne as for the JR3 company after the listing, too.
Integration with under metropolitan management is not discount to the rating of a present Tokyo metro. Though the expectation that becomes a rate schedule to which the subway whole line in the central area of Tokyo is unified comes out if it thinks in user's standpoint.
http://www.toyokeizai.net/business/strategy/detail/AC/a2c18169bfe6ad02831a3093936d74f8/page/1/
Japan is good country!
http://japan-power.net/
PLEASE come here!
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