Local News

JR Kyushu released its consolidated financial results for FY 2008 showing that net profit plummeted 80.3% to 1.822 billion yen. The primary reason cited for the decline was 10.2 billion yen in special losses due to valuation losses on securities resulting from the turmoil in financial markets. With revenue falling 3.3% to 301.097 billion yen, and current profit dropping 18.5% to 14.455 billion yen, the company suffered combined revenue and earnings declines for the first time in seven years.