November 23, 2024

Tokyo Metro and Sumitomo Corp to Operate London Underground

On November 20, Tokyo Metro revealed that it has been tasked with managing the London Underground in the UK. The company, in partnership with Sumitomo Corporation and a British railway operator, received informal notification from Transport for London on the 19th (local time) regarding the contract to oversee the operations of the Elizabeth Line. This marks Tokyo Metro's first venture into overseas railway operations.

GTS Rail Operations, the newly formed operating company, is 65% owned by the British Go-Ahead Group, while Tokyo Metro and Sumitomo Corporation each own 17.5%. The specific investment amount from Tokyo Metro and its effects on consolidated financial results remain undisclosed. The company will replace the current operator and commence railway operations in May 2025, with a contract duration anticipated to last up to nine and a half years.

The Elizabeth Line launched in May 2022, celebrating the late Queen Elizabeth's 70-year reign. This line spans 117 km and includes 41 stations, linking Heathrow Airport in west London to the east through central London. It ranks among the UK's busiest routes, with projections indicating over 200 million users by 2023 and more than 250 million annually by 2030.

Tokyo Metro went public in late October and is now diversifying its business to foster growth. In the international railway sector, the company is focused on establishing railway consulting firms in Vietnam and other nations, although these efforts are currently limited in scale. Regarding its role in railway operations in the UK, Tokyo Metro stated, "We aim to contribute to further development through the expertise we have gained in safety and punctuality." Transport for London's Chief Operating Officer remarked, "We are delighted to collaborate with GTS to enhance the success of the Elizabeth line and look forward to our partnership."