Comment by anomaly_
7 days ago
it also helped that the government stuck the equivalent $1T+ debt for building the highspeed system onto an off balance sheet entity before privatising the JR companies. so investors picked up the (barely) cashflow profitable lines without construction debt.
I wish this mis-information would die
JR was converted into 7 companies. Most of other 93 existing train companies were not paid for by government. Take Tokyo - The Keio lines, the Odakyu lines, the Tokyu lines, the Tobu lines, the Keikyu lines, the Seibu lines, etc... are all private and have been private since they started.
As for JR, most of the debt was paid back, at least by JR East and JR West.