What Will Happen to the Seibu-Chichibu Line?
The governor and others run in the commotion of abolition
April 23, 2013, Hanno, Japan - A Seibu Railway Co.'s express train bound for Chichibu, some 112 km northwest of Tokyo, runs through the suburban area of Saitama Prefecture on the company's 19-km Seibu Chichibu Line on Tuesday, April 23, 2013.
U.S. equity fund Cerberus Capital Management has made an tender offer to boost its stake from the present 32 percent to nearly 45 percent in an apparent bid to take the initiative in managing Seibu Holdings, the railway and hotel operator. Rumors that the U.S. investment firm is demanding that the unprofitable local line be closed made local governor and community leaders run to Seibu Holdings to make their case to keep the line open. The six-station line, which opened in 1969, is used by about 10,000 people daily. (Photo by Natsuki Sakai/AFLO) AYF -mis-