I am Shoji Kurasaka, and on June 18th, I assumed the position of President. I would like to extend my sincere gratitude for your continued understanding and support of the business operations of the JR West Group.

The Group very seriously takes its responsibility for the train accident on the Fukuchiyama Line it caused on April 25, 2005, and has worked towards the safety of railway operations, its core business, as the highest priority issue.

In fiscal year 2025.3, we have strengthened our connection with communities and society by maximizing the opening effect of the Hokuriku Shinkansen between Kanazawa and Tsuruga, and promoting projects in Osaka and Hiroshima. Thanks to your support, we have achieved sustained revenue and profit growth from the previous fiscal year.

Regarding shareholder returns, based on our recent performance and our policy of stable long-term shareholder returns, we have increased the annual dividend by 10.5 yen from 74.0 yen per share, as previously announced, to 84.5 yen. Additionally, for fiscal year 2026.3, we are proceeding with the acquisition of the remaining 500 billion yen of treasury shares, following the approximately 500 billion yen buyback during the previous fiscal year as outlined in the Medium-Term Management Plan 2025 Update.

In fiscal year 2026.3, while continuing to prioritize safety improvements, we plan to utilize events like the Osaka-Kansai Expo as growth opportunities and challenge ourselves to create sustainable value across the group as a whole. Amid significant economic changes, such as inflation and labor shortages, Our Purpose will guide us toward achieving the goals set in our Long-Term Vision 2032 and Medium-Term Management Plan 2025.

The society and environment surrounding our group are undergoing significant and rapid changes. Even amidst the unprecedented crisis of lost travel demand due to COVID-19, our group has undertaken a structural reform focusing on railway businesses, evolved connections with stakeholders developed through various businesses, and created new value through digital strategies and more. We aim to expand these initiatives, addressing social challenges Japan faces, such as attracting inbound tourists to revitalize regions, addressing labor shortages, and dealing with infrastructure aging—as business opportunities. We will pursue "collaborative creation" with various partners, boldly "challenge" ourselves, and strive to create value in broader areas. Consequently, we strive to enhance both corporate and shareholder value over the medium to long term.

As President, I intend to deeply engage with various stakeholders, including our shareholders, fostering dialogue to shape a sustainable and vibrant future where our group can contribute meaningfully.

We kindly ask for your continued long-term support.

June 2025
Shoji Kurasaka
President and Representative Director