2013 Volume 16 Issue 3 Pages 012-022
Among four JR companies which are yet-to-be listed on the stock exchange, JR Kyushu has started preparation for getting listed. However, in the absence of management stabilization fund, it is estimated that it would not be easy for the company to attain self-sustaining accounting figures. For other three JR companies, it is likely that the privatization through usual process of listing would involve even more longer term issues. On the other hand, as the initial listing requirement is eased recently, the goal of complete privatization is attainable if the growth of the company remains healthy under stable management. In this article, instead of the standard process of listing, the possibility of tentative listing with specific institutional arrangement maintaining the special characteristics of four JR companies is examined.
