Japan’s Transport Ministry approved the idea of a share sale of Tokyo’s subway-system operator, setting the stage for one the country’s largest privatizations and exchange listings in recent years.
A report supporting the government divesting part of its stake in Tokyo Metro Co., which operates nine subway lines in the world’s largest metropolitan area, didn’t specify any timeframe or offering size. Still, the recommendation paves the way for it to join sales of Japan Tobacco Inc. and Japan Post Holdings Co. to help the government fund debt repayment.
