Under Premier Koizumi's privatization drive, Japan Highway Public Corp. (JH) is split into three regional stock companies that build and manage highways in eastern, central and western Japan under state control.

The new private road companies will continue to build roads using funds raised by issuing bonds. The completed roads and debts incurred will be taken over by a new public agency tasked with managing their assets and liabilities. The government will guarantee those bonds issued by the three companies. More than one-third of their shares will be owned by the government. This plan is criticized as a far cry from true privatization.