Tokyo Metro Co., Ltd. is responsible for a core part of the railway network in the Greater Tokyo Area, operating nine subway lines with 195.0 kilometers of track and 180 subway stations around central Tokyo. Seven of these lines offer reciprocal through-services with lines operated by other rail transport companies.
As a public transport operator that plays a central role in the rail network for the Greater Tokyo Area, the Tokyo Metro Group engages in a variety of business activities, mainly within the railway industry, as it seeks to support the daily lives and economic activities of the people of Tokyo under our group ideal of "Keeping Tokyo on the Move."
The company continues to face a difficult business environment due to the significant decrease of income from passenger fare revenue resulting from the spread of COVID-19. There have also been changes to the structure of society: online trends such as remote work and web conferencing have become well established, people are avoiding the "three Cs" (closed spaces, crowded places and close-contact settings), and the population is becoming less concentrated in central Tokyo and more widely dispersed across peripheral areas. Also, there have been changes in people's consciousness and behavior, as well as in consumption and corporate activity. All these changes mean that, while we do see signs of recovery, the future is unclear. We are also seeing significant changes in the frequency and intensity of natural disasters such as typhoons and heavy rainfall as well as parts shortages due to supply chain disruption and other factors, rising resource and energy prices, and the coming of a full-scale digital society and a declining population.
With the view toward this next normal, we renew our resolutions to keep passenger's safety as the top priority and bring greater peace of mind to all our passengers through the unremitting pursuit of safety and the provision of high-quality, customer-oriented services. We also take environmental, social and economic sustainability into consideration and aim to solve societal issues through our business. To this end, we have placed sustainability at the center of our business and formulated our sustainability management vision, which defines our attitude toward creating a sustainable society that offers peace of mind for 2030.
In addition, in order to increase revenue through sustainable railway business operations and growth strategies, we have drawn up the Tokyo Metro Plan 2024, our mid-term management plan for FY2022 to FY2024, in which we set out four key strategies based on policies of advancing "structural reform" and making "new breakthroughs".
The plan details our aim to keep customer safety at the forefront as we evolve the railway business through safetyassured cost structure reforms such as streamlining equipment and operations, the creation of new opportunities for outings through city tourism, etc., and the leveraging of digital transformation (DX) and new technologies developed in collaboration with other companies and research institutions, including CBM (condition-based maintenance) solutions such as the TIMA (Train Information Monitoring and Analysis) system. We also aim to grow through the urban design and lifestyle creation business, and the development of overseas railway business and other new businesses. We will work toward promoting health and creating a workplace where every employee's human rights are respected, where employees have job satisfaction, and where diverse human resources can thrive. We also aim to strengthen our business foundation by reinforcing our organizational framework and governance, and contributing to a decarbonized and sound material-cycle society through efforts toward carbon neutrality.
Furthermore, based on the Council for Transport Policy Report No. 371 and agreements with the national and Tokyo Metropolitan governments, we aim for the Yurakucho line and Namboku line extensions to open in the mid-2030s, assuming sufficient public support. We will also carry out various management reforms geared toward advancing "structural reform" and making "newbreakthroughs", with a view to full privatization.
As a public transport operator supporting the capital city Tokyo's urban functions, the Tokyo Metro Group intends to enhance our sustainable corporate value, and aspires to be a railway company of the highest quality that is trusted, selected and supported by all of our stakeholders.
Thank you all for your continued understanding and support.