Central Japan Railway & West Japan Railway — Fare hikes: A somewhat earlier-than-expected timing leaves a favorable impression

Today, the companies announced revisions to reserved-seat limited express surcharges and Green Car (first-class) charges for Nozomi and Mizuho services. The changes are 1) An increase in Nozomi fares up to the current cap (applicable to tickets purchased from July 1, 2027; +¥700 for the Tokyo–Shin-Osaka route; JR Central's annual revenue uplift: ¥35–40 billion), 2) Green Car charge increases (applicable to travel from December 15, 2027; +¥3,000 for the Tokyo–Shin-Osaka route; JR Central's annual revenue uplift: ¥15–20 billion). Because the Nozomi fare increase is within the permitted upper range, it does not require regulatory approval and can be implemented via notification filing. The revenue uplift for JR Central from introducing Supreme Class private/semi-private compartments is expected to be around ¥10 billion per year, with full rollout across all trainsets targeted in about 15 years. While the incremental revenue from the Nozomi fare and Green Car charge increases is broadly in