Southwestern Japan rail operator Kyushu Railway Co. has filed to list on the Tokyo Stock Exchange. Given the time typically needed for screening by the bourse, it is likely to list on the exchange’s main section in October. The filing came after the company had submitted a preliminary application.
The company, serving the island of Kyushu and commonly known as JR Kyushu, would be the first of three JR companies outside of Honshu to become a publicly listed company.
With an expected market capitalization of around ¥500 billion (4.3 billion euros), the listing by the company would be one of the biggest initial public offerings in Japan this year.
JR Kyushu’s core railway operation has been in the red since its establishment as a regional operator. The company expects to be profitable in the rail business in the year ending March 2017.
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