Transport chief Chikage Ogi expressed reservations Friday about an industry revival plan announced the day before by the government's Industrial Revitalization Corp. of Japan.
Ogi said it will be difficult for the Organization for Promoting Urban Development, a transport ministry affiliate, to unconditionally give up part of its credit claims to Kyushu Industrial Transportation Co., one of the first three debt-ridden firms picked by the IRCJ for rescue.
The IRCJ has requested that the urban development organization give up its claims on the 6,100 sq. meters of land purchased from the Kumamoto Prefecture-based bus operator in 1995. The buying price was 4.5 billion yen, according to Ogi.