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Fukui Railway
is a bus and railway company located in Echizen, Fukui Prefecture, Japan. It owns and operates the Fukubu Line between Tawaramachi Station in Fukui and Echizen-Takefu Station in Echizen.
==Overview==
Although Fukui Railway's name refers to its founding as a railway, 75.1% of the company's revenue comes from local and long-distance bus transport— only 16.7% is from its railway operation. Since 1963 the company's railway business has lost money, and although this loss was offset by its bus and real estate operations, by 2006 the company recorded a cumulative loss of 2.2 billion yen and debts of 3.07 billion yen.
As a result of these unsustainable losses, in August 2007 the company formally requested financial support from the cities of Echizen, Sabae, and Fukui. Negotiations with Fukui Prefecture, Nagoya Railroad (the company's parent), Fukui Bank and other financial institutions proved difficult. However, on December 29, 2008, Nagoya Railroad agreed to acquire one share in Fukui Railway for one billion yen then divest all shares in the company to Fukui Town Management Organization (a third sector company established by municipalities) and local support organizations for one yen per share, ending its 45-year ownership of the company.〔(名鉄が福井鉄道へ10億円増資、全株譲渡し撤退 福武線存続問題 ) ''Fukui Shimbun'', December 29, 2008. 〕〔(関連会社株式の譲渡に関するお知らせ ) December 15, 2008. 〕
During an extraordinary shareholders meeting on November 25, 2008, Haruo Murata, formerly of Fukui Bank, was selected as the company's new president.〔( 福井鉄道、新社長に村田氏就任 ) Fukui Shimbun, November 26, 2008. 〕 On February 24, 2009, the Ministry of Land, Infrastructure, Transport and Tourism officially approved the "Railway Business Restructuring Plan", which provides one billion yen over ten years for replacing equipment and facilities as well as reducing the company's fixed assets tax burden.〔( 福武線支援策、国が認定 10年間で10億補助 ) Fukui Shimbun, February 24, 2009. 〕
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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