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(1) To realize harmonious development of land and a society in which improvements
are actually felt by people, it is important to expand and improve the transport
infrastructure. In particular, railways play a fundamental role in people's
lives, and improvement of railway transport services is essential to mitigate
rush-hour congestion and to speed up inter-city transit. Also, railways are
expected to play a more important role in dealing with problems of road congestion
and traffic accidents and to provide a transport system that impacts less on
the environment.
(2) Currently, various sorts of supporting measures are being introduced by
the Railway Development Fund, and the interest-free finaning system of the Japan
Development Bank (NTT-C, and other supporting measures by Specified City Railway
Construction Provisional Fund System groups.
However, since the construction of railways requires increasingly large
amounts of funds and long implementation periods owing to the difficulty of
acquiring land and the increase of construction costs, which make construction
more risky for railway companies. Incentive measures have to be strengthened
to enhance investment by railway companies. It is important to examine the subject
from various points of view. National organizations, local communities, and
users should each bear their share of costs and make efforts toward the construction
of rail facilities.
(3) With regard to planned Shinkansen lines, construction is progressing in
accordance with the basic scheme. As an addition to the 3 lines in 4 sections
already in operation, construction of the Hokuriku Shinkansen between Itoigawa
and Uozu started in October 1993. Implementation of the "Urgent Railway Station
Construction Project Combined with Development of Local Cities" is also being
continued. Construction to speed up service on narrow-gauge artery lines is
progressing in many areas.
(4) As for intra-city railways, railways are being constructed for JR and other
leading private passenger transport institutions, as well as for other railway
systems, such as subways, monorails and new transport systems to respond precisely
to increasing demand for transport and to attain decentralization of various
functions in the center of the city aiming at formation of orderly metropolitan
areas.
(5) In support of local railways, measures have been introduced for small and
medium-size private railway companies to construct railways essential to local
residents. It is necessary to shift the concept of subsidies from compensation
for deficiency, to subsidies for support of modernization. For converted railways
it is necessary to increase efforts to enhance passenger usage. In addition,
construction of new local railway lines is in progress.
In accordance with the rise in the standard of living in recent years,
railway transport must be more comfortable and more convenient, and it is necessary
to provide increased quality of service. For example, increasing convenience
for users, including elderly or physically handicapped persons, is being pursued,
and also mutual use of trucks by diffierent railway companies in city is increasingly
applied.
The Ministry of Transport provided guidelines in August 1993 for installment
of elevators. For rolling stock, efforts are being made to respond to passenger
demand for improvement of comfort and introduction of event-trains and trains
with sleepers.
(1) JR shares were originally intended to be listed on the stock exchange
in 1991. However, the general sluggishness of the stock market delayed the listing.
In 1993, 2 million shares, or one half of issued shares, were listed and sold
publicly. This is the new step toward the completion of restructuring Japan
National Railway.
(2) The balance of long-term debt transferred from Japan National Railways to
Japan National Railways Settlement Corporation at the beginning of FY1993 was
26,600 billion yen. This represents an increase of 200 billion yen from the
previous fiscal year, even though income from land sales reached a record high
90.17 billion yen in FY1992. The increase in debt is attributed to the smaller
amount of income from land sales than original estimate and the unavoidable
delay in listing JR shares.
In order to promote the sale of assets owned by JR, the following options
were introduced: creating a bidding system with a ceiling price and expanding
its application; easing the condition of arbitrarily granting contract for advanced
acquisition of land for public use with local governments establishing a consortium
to handle the development of the land formerly used as a freight yard by the
Shiodome station ; obtaining loans from the Japan Development Bank to assist
investors interested in real estate conversion.
With regard to sales of JR stocks, it is intended that the remaining shares
of JR East Japan as well as shares of JR Tokai and JR West Japan will be sold
after FY1994 to achieve complete privatization of the JR and redemption of the
long term debt of the JNR Settlement Corporation.
The Ministry of Transport and Japan National Railways Settlement Corporation
will make their best effort to achieve the earliest possible elimination of
debt and reduce the burden on the nation as far as possible.
(3) To complete restructuring of Japan National Railway, it is necessary to
dispose of National Railway's long-term debt, achieve a complete shift to private
operation, and attain further improvements for sound operation of railways in
the future through modernization and speeding-up of railway service.
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