Photographer: Tomohiro Ohsumi/Bloomberg

Apple-Rivaling Margins Lift Japan Rail Operators’ Appeal: Chart

Japanese bullet-train operators are seeing their profitability rival Apple Inc.’s as operations in retail and property lift their margins. Gross margin at Central Japan Railway Co., known as JR Central, has surpassed that for the iPhone maker in at least four of the past six quarters, with the measure at East Japan Railway Co., or JR East, following close, according to data compiled by Bloomberg. Kyushu Railway Co. will test investor appetite for such operations, with the company announcing Thursday the indicative pricing for its initial share sale targeted to raise $3.8 billion.

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