XM does not provide services to residents of the United States of America.

Japan's No.1 freight train company halts all cargo, NHK reports



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>Japan's No.1 freight train company halts all cargo, NHK reports</title></head><body>

TOKYO, Sept 11 (Reuters) -Japan Freight Railway (JR Freight) suspended all cargo train operations on Wednesday after the company found evidence of misconduct in safety tests, public broadcaster NHK reported.

The suspension by the biggest cargo train company in Japan led to at least a day-long delay in parcel delivery services, according to courier operators, while the full extent of the impact on the country's logistics remains unclear.

JR Freight, the only Japanese firm operating cargo trains at a nationwide level, said on Tuesday it had found inappropriate procedures at three of its rail yards, where employees fabricated data or ignored suboptimal safety test data during wheel assembly procedures for cargo cars.

Japan's transport ministry asked the company to conduct emergency checks on all cargo cars to ensure the safety of wheels. JR Freight decided on Wednesday to keep all of its cars out of action until their safety is confirmed, according to NHK.

JR Freight did not immediately respond to a request for comment.

The company aims to resume operations by the end of Wednesday and minimise the logistical impact by increasing the payload of each cargo car, Kyodo news agency later reported.

Delivery service company Yamato 9064.T said some of its longer-distance domestic parcels would face delays of more than one day. SG Holdings' Sagawa 9143.T, Fukuyama Transporting 9075.T, and Seino 9076.T also apologised to customers for delivery delays due to JR Freight's cargo suspension.

JR Freight was founded in 1987 to succeed the privatised cargo business of the state-owned Japanese National Railways and operates more than 7,000 cargo cars, according to its website.



Reporting by Kantaro Komiya; Editing by Mark Potter

</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.