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joint development as found in U.S. rail stations. The first of these was created in the Nagoya
metropolitan area by the JNR in 1950, through the "People's Station Program." Under the
People's Station Program, a local community would pay for the construction cost of a station
building, donate station facilities to the JNR, and then occupy a commercial space by itself.
This was the first effort to create station buildings as for the JNR. When the Japanese National
Railways Act was amended to allow the JNR to invest money in SBs in 1971, the JNR began
actively pursuing a program of station building development.
Even after the new act, before privatization of the JNR, by law it could neither own nor
operate SBs by itself. For that reason, the JNR adopted the "Land Leasing Method (LLM)," in
which it leased its land to a subsidiary which would then build a station building and lease
commercial spaces to tenants. After privatization, however, most of the regulations regarding
the EJR's side-businesses were eliminated, and it was able to own and manage station
buildings itself, without restriction. Since that time the FJR has practiced the "Building Leasing
Method (BLM)," in which the EJR puts up a station building and leases it to a subsidiary, who
then subleases its space to tenants. The BLM is better than the LLM for all of the following
reasons:
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the BLM has more added value and will produce more profits, especially long-range
profits;
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the BLM does not incur any of its tenants' land-leasing rights, which are stronger than
building-leasing rights; and
e
the BLM can allow an owner to depreciate a building, creating a tax credit for the owner.
3.1.3 The Rail Network and Downtown Area in Tokyo
Metropolitan Tokyo consists of the Ward area in the east and the Tama area in the west.
The Ward area is made up of 23 wards and the Tama area is comprised of 27 cities and 14
towns and villages. In the center of the Ward area runs the FiR's Yamanote Line, which
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