• West Japan Railway average ebitda margin for 2023 was -9.52%, a 48.75% decline from 2022.
• West Japan Railway average ebitda margin for 2022 was -6.4%, a 278.7% increase from 2021.
• West Japan Railway average ebitda margin for 2021 was -1.69%, a 124.82% increase from 2020.

Ebitda margin can be defined as earnings before interest, taxes, depreciation and amortization as a portion of total revenue.