Former Japanese National Railways President Fumio Takagi, who laid the groundwork for the 1987 privatization of the mammoth JNR, died of heart failure Tuesday, his family said. He was 86.
A University of Tokyo graduate, Takagi began his career at the Finance Ministry in the 1940s. He became vice finance minister in 1974.
He took the post of JNR president in 1976 and made a series of changes, including sharp fare hikes and job cuts, to help improve the financial condition of the debt-ridden rail network.
By the time he left the job in 1983, Takagi had laid the foundations for JNR's privatization and splitup into regional passenger carriers, a freight carrier and a firm tasked with repaying JNR's debts.
After leaving JNR, he went on to serve as president of Yokohama Minato Mirai 21, which manages the seaside commercial complex of the same name.