Tokyo Waterfront Area Rapid Transit

Tokyo Waterfront Area Rapid Transit
東京臨海高速鉄道株式会社
Stock company (KK)
Industry Rail transport
Founded March 12, 1991
Headquarters Kōtō, Tokyo, Japan
Area served
 Tokyo
Key people
 Hiroyasu Kawasaki, Representative Director and CEO
Services Rinkai Line rail service
Revenue 15.588 billion yen (FY2008)[1]
1.623 billion yen (FY2008)[1]
-2.503 billion yen (FY2008)[1]
Total assets 303.408 billion yen (FY2008)[1]
Owner Tokyo Metropolis (91.32%)
East Japan Railway Company (2.41%)
Shinagawa City (1.77%)
Mizuho Bank (0.70%)
(as of March 31, 2009)
Number of employees
 247
Website www.twr.co.jp

Tokyo Waterfront Area Rapid Transit, Inc. (東京臨海高速鉄道株式会社 Tōkyō Rinkai Kōsoku Tetsudō Kabushiki-gaisha) 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.[2] 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.[3] 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.

References

  1. 1 2 3 4 東京臨海高速鉄道（株） Accessed March 9, 2010. (Japanese)
  2. ↑ JRTR 38: Rapid Transit and Related Urban Development in Tokyo Waterfront Area
  3. ↑ 報道特集NEXT, Tokyo Broadcasting System. November 7, 2009.
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