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Japan bullet train operator sees $2bn loss and higher maglev costs

JR Central reports first red ink since privatization in 1987 due to pandemic

Passenger totals for the Tokaido Shinkansen line linking Tokyo, Nagoya and Osaka plunged 66% in the previous fiscal year. (Photo by Konosuke Urata)

NAGOYA, Japan -- Central Japan Railway, which operates the shinkansen bullet train connecting Tokyo and Osaka, on Tuesday reported a consolidated net loss of 201.5 billion yen ($1.86 billion) for the year ended March 31 due to the lack of passenger traffic during the coronavirus pandemic.

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