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Four Okinawan bus companies to merge

Date Posted: 1999-08-27

Four of Okinawa’s bus companies have announced they will merge after initial plans to sell-off their buses would not guarantee their survival. The four companies, Okinawa Bus, Naha Kotsu, Ryukyu Bus and Toyo Bus, reached agreement after garnering support from both the central government and the Okinawa Prefectural Government. The new company will be established in September.

The merger was initially proposed last December by the Okinawa General Bureau in order to reduce the debts each company was accumulating. Earlier they had assumed by selling off their buses, the debts would be reduced significantly and the revenue from the sale used to finance the new company. However, the new company will not consolidate the debts and with only a limited budget, plans to request financial support from the National Treasury and the Okinawa Development Financial Corporation.

The merger will not affect charters, and current employees from all four companies will continue to work for the new company.

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