(story developing)
At a board of directors meeting held today, Kyushu Railway Company resolved to withdraw subsidiary JR Kyushu Jet Ferry from the vessel operation business.
"In order to resume the operation of the Queen Beetle, both the company and JR Kyushu Jet Ferry reviewed JR Kyushu Jet Ferry’s safety management system and strove to cultivate a culture of safety awareness throughout the company," the company said in a statement.
"Additionally, we have considered implementing physical measures for the vessel. However, after receiving opinions from external experts and careful consideration, it has been determined that even with physical measures in place, it would be impossible to completely eliminate the risk of cracks occurring in the vessel’s structure.
"Therefore, the company concluded that it cannot guarantee the absolute safety required for the resumption of operations. Taking into account the future continuous operation of the business and other factors, we have made the decision to withdraw JR Kyushu Jet Ferry from the ship operation business."
The company said it plans to discontinue the notification and other procedures related to the vessel operation business once coordination with relevant authorities is completed.
Kyushu Railway said it intends to liquidate the asset after subsequent investigations and corresponding measures are fully completed.