Abstract
The main purpose of this paper is to define some features of the policy-making process of public enterprises in Japan by observing the decision-making process in the construction of the Seibi Shinkansen. In analyzing the policy-making process, the writer applied the arena model, forcusing on problems, participants and power relations as elements in the arena. As a result, three features became clear in this Seibi Shinkansen case: fragmantation of the arena, classification between arenas and non-retroactivity between arenas.