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On 26 October 1993. JR East Company stocks were listed on the Tokyo Stock
Exchanges, the first sale of stocks among the seven JR companies. The purpose
of the sale of JR stocks on the market was to finally realize the full privatization
of the companies, which was one of the goals of JNR Reform. Another was the
earlier liquidation of long-term debt taken over by the Japan National Railways
(JNR) Settlement Corporation. The stock listing was originally planned in FY
1991, but it was postponed for two years due to the situation of the stock market
and its vitalization.
The sale of JR East stocks was a matter of concern for many people and there
were more than 1.2 million who offered to buy the stocks.
The JNR Reform has moved into a new phase owing to the stock listing of
one of the JR companies 7 years after its privatization on I April 1987.
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