The largest tour operator in Japan, JTB, is an unlisted company. Its largest shareholder is a judicial foundation, Japan Travel Bureau Foundation.

Japan Travel Bureau Foundation says as follows.

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JTBF is a non-profit, independent organization concentrating tourism research and marketing. Even though it is named as "JTB" our organization is completed from the JTB Corporation, which is the largest tour operator in Japan. We are working for the common welfare of the society including the interest of travel industry. The Government, autonomies are also our important clients.
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However, in fact, the purpose of JTB Corporation is not to promote the Japanese sightseeing industry but to regulate it. In other words, its real purpose is to keep foreigners at bay. I understand very well that foreigners often feel that their travel was a failure. Just for that purpose, major sightseeing companies have to be state-owned. The Japanese government doesn't want to see Japanese kowtow to foreign tourists. The government's attitude is totally ridiculous.

http://japansconspiracy.hp.infoseek.co.jp/01/...