[Sapporo Guy]

Not first hand information but from a retired banker who was in the know during his time.

1.) JAL was/is infested with multiple, double indexed and cross referenced union system. Don't ask what that really means but basically sounded like that JAL had more unions than swiss cheese has holes which it had/has to deal with.

2.) pension ... declining birth rate was just understood to be a problem yesterday. I'll have to check on those risky investments.

3.) flights to the boondocks and woodpeckerville. Well, since JAL has been Japan's pet airline, JAL was required to take responsibility of providing service to all of Japan's airports.
- JAL isn't the only Japanese based international airline, (ANA)
- their are several domestic airlines that partner with either JAL or ANA

- flying from Sapporo to Tokyo costs as much as Sapporo to Guam
- flying from Sapporo to Okinawa costs as much as Sapporo to almost New York
... meaning domestic flights are stupid expensive and supported by citizens

Sony was the first company to go against a government decision. However, most large corporation are in one way or another being "guided" by the government through various means: consultation, contracts, permits, and retired bureaucratic appointments to the corporation itself.

So, YES, the government will tell companies what to do, if they don't then they can forget about any future governmental help.

Shareholders? lolo, what are those?
Most Japanese are not savvy in the use of computers let alone in stocks. I know more than most people around me and what I know is almost nothing. I'd imagine most domestic shareholders are other companies or some type of fund thereby understanding already how the government works.

@ legion
So, yes, you basically are correct. However, I'd say that JAL was not pressured but had moved ahead with bad policy and decisions based on suggestions.