Division and privatization of Japanese National Railways

The division and privatization of Japanese National Railways (国鉄分割民営化, Kokutetsu bunkatsu min'eika) was a landmark administrative reform implemented by the Zenkō Suzuki and Nakasone Cabinets. Under this initiative, the chronically unprofitable and heavily subsidized Japanese National Railways (JNR) was restructured into six regional passenger railway companies and one freight railway company, collectively known as the Japan Railways Group (JR), and transitioned to private-sector management (privatized).

Source: Wikipedia — Division and privatization of Japanese National Railways (CC BY-SA 4.0)