Tokyo Waterfront Railway
Encyclopedia
is a third-sector company that owns and operates the Rinkai Line
. The company was founded on March 12, 1991 for the express purpose of constructing and operating the railway line, which connects central Tokyo with Odaiba
. As a third-sector company, 91% of shares are held by the Tokyo Metropolitan Government, 2.41% by East Japan Railway Company
, and 1.77% by the city of Shinagawa
.
In addition to its ownership and operation of the Rinkai Line, the company is also involved in real estate and subcontracting/management of station- and building-related design.
The construction of the Rinkai Line ran severely over budget, with an estimated final cost of over ¥440 billion. In 2005, the Rinkai Line's average ridership was 140,000 passengers per day and, in 2006, the line finally registered its first operational profit (that is, excluding interest payments on ¥389 billion yen in debt). Although the company makes an operating profit (2.077 billion yen as of 2008), these interest payments have resulted in a consistent net loss since 1991.
In spite of its severe financial situation, the company was discovered to have made a five million yen donation to the Tokyo Metropolitan Government on October 16, 2009 to encourage the city's bid for the 2016 Olympic Games. The company stood to benefit financially if the games were held in Tokyo, as several of the proposed venues were located along the company's Rinkai Line.
Rinkai Line
The is a railway line located in Tokyo, Japan. It is the only line operated by the third-sector company Tokyo Waterfront Area Rapid Transit. It connects central Tokyo to the artificial islands of Aomi and Odaiba...
. The company was founded on March 12, 1991 for the express purpose of constructing and operating the railway line, which connects central Tokyo with Odaiba
Odaiba
is a large artificial island in Tokyo Bay, Japan, across the Rainbow Bridge from central Tokyo. It was initially built for defensive purposes in the 1850s, dramatically expanded during the late 20th century as a seaport district, and has developed since the 1990s as a major commercial, residential...
. As a third-sector company, 91% of shares are held by the Tokyo Metropolitan Government, 2.41% by East Japan Railway Company
East Japan Railway Company
is the largest passenger railway company in the world and one of the seven Japan Railways Group companies. The company name is officially abbreviated as JR East in English, and as in Japanese. The company's headquarters are in Yoyogi, Shibuya, Tokyo....
, and 1.77% by the city of Shinagawa
Shinagawa, Tokyo
is one of the 23 special wards of Tokyo, Japan. In English, it is called Shinagawa City. The ward is home to nine embassies.As of 2008, the ward has an estimated population of 344,461 and a density of 15,740 persons per km². The total area is 22.72 km²....
.
In addition to its ownership and operation of the Rinkai Line, the company is also involved in real estate and subcontracting/management of station- and building-related design.
The construction of the Rinkai Line ran severely over budget, with an estimated final cost of over ¥440 billion. In 2005, the Rinkai Line's average ridership was 140,000 passengers per day and, in 2006, the line finally registered its first operational profit (that is, excluding interest payments on ¥389 billion yen in debt). Although the company makes an operating profit (2.077 billion yen as of 2008), these interest payments have resulted in a consistent net loss since 1991.
In spite of its severe financial situation, the company was discovered to have made a five million yen donation to the Tokyo Metropolitan Government on October 16, 2009 to encourage the city's bid for the 2016 Olympic Games. The company stood to benefit financially if the games were held in Tokyo, as several of the proposed venues were located along the company's Rinkai Line.
External links
- Tokyo Waterfront Area Rapid Transit (official)