[Avicebron]

Yes.

From the article:

"Today, the most striking institutional feature of Japanese rail is that it is privately owned by a throng of competing companies." ...

"Core rail operations are profitable for every Japanese private railway company, but they usually only account for a plurality or a small majority of revenue. The rest is contributed by their portfolio of side businesses."

It's like a textbook good application of capitalism that unsurprisingly the US can't seem to get right.