>>67006648Japanese National Railways got split into 12 corporations.
JR West, JR East, JR Central started privatization from the get go, while JR Kyushu, JR Shikoku, and JR Hokkaido were too deep in the red, so they were each given a fund of various other sources of income like hotels, travel agencies and so on. This helped JR Kyushu bounce back into profitablility and privatization in 2006, and kept JR Shikoku debt low before the pandemic(and there's still a good chance of them bouncing back if Shikoku Shinkansen is ever built), but JR Hokkaido is utterly fucked and closing lines pretty much yearly(see pic related).
The rest of the 12 are non-passenger companies like JR Freight, JRTT(research company), JR Information Systems, and so on.
