Japanese National Railways Privatization Study

Download or read book Japanese National Railways Privatization Study written by Kōichirō Fukui and published by . This book was released on 1992 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: Five years have passed since the privatization process of the railway sector in Japan was initiated in 1987. This study is the first comprehensive analysis of this restructuring, showing how a formerly state-owned enterprise such as the railways can be successfully revitalized through privatization. The successful results of the Japanese privatization process are already clear. Fiscal drain has been almost entirely eliminated without raising fares. The quality of service has been greatly improved with substantially reduced number of employees and the demand for railway service continues to increase. On the other hand, there are still longer term problems such as the sales of shares to private investors and the repayment of old debts which are gigantic. This report gives the evidence on how difficult, time consuming and politically complicated, but worthwhile, it is to rectify the fiscal drain, to enhance the morale of the employees, and most importantly, to offer a better service to the users with less costs. Japan's privatization experience can provide valuable lessons to development communities, private entrepreneurs and government officials who anticipate privatizing their own railway sectors.