I'm not complaining BTW, love the train system here, it's only when someone tries to describe them as either a purely "private" or "public" company it's never so straightforward IMHO, so wanted to clarify.
But its also important to note there are other still big but much more private players like Kintetsu, Hankyu, Keio or Tobu that also follow the same playbook - having not just rail lines but also malls, hotels and other businesses, like: * cableways (like the Kintetsu Beppu Ropeway) * zoos (Tobu Zoo) * theaters (Takarazuka Revue - all-female musical theatre troupe based in Takarazuka - a division of the Hankyu Railway company - all members of the troupe are employed by Hankyu)
And you can see this replicated on the smallest level - when we went to Izumo, we found out the Ichibata company does not just run the line to the Izumu shrine, but also owns a hotel next to the Izumo station, runs local buses and even runs the gift shop in the Izumo museum. :)
I think this can to a degree explain why public transport is so well connected with other services in Japan & why the stations are clean and convenient - it has a direct benefit for all the many side businesses the public transit companies have.
Even if they are consessions I think they are a positive. They provide a positive feedback loop for the train companies. Better trains = more customers for their other interests and visa versa. If the trains start to suck people don't want to be on that line and choose a different line for their businesses, houses
Compared to public transporation where it's just politians who decide budgets and with few exceptions (Netherlands for example) they almost never decide well.