I cannot find any current data, but back in 2011-2012 when Japan was considering fully privatizing its metro systems, reports were that they were profitable. July, 2011: Tokyo Metro, which carries more than 6 million passengers each day over a 195 kilometre network of tracks, posted a 36.8 billion yen net profit for the financial year ended March 2011 on ...


No. It's not even the most profitable. The MTR in Hong Kong is one of the most profitable metro systems in the world; it had a farebox recovery ratio of 187% in 2015, the world's highest (source).

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