(CNN) -- The image of the Shinkansen bullet train streaking past Mount Fuji is a powerful part of the iconography of the resurgent post-war Japan. Introduced in 1964, just months ahead of the the Tokyo Olympics, the bullet train represented everything that Japan wanted for itself: a sleek, cutting-edge and reliable mode of transportation. The average annual delay of a Shinkansen train is 36 seconds -- even accounting for earthquakes and typhoons. The Shinkansen network transports around 930,000 passengers every day. During rush hour, bullet trains leave urban stations around Japan as often as every six minutes. But nearly 50 years on, Japan's hi-tech wonder desperately needs an update.
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The Shinkansen network transports around 930,000 passengers every day
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A pioneer of high-speed rail, Japan faces intense rivalry from China and European train giants France and Germany
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Train company JR Tokai plans to build a $100 billion, 286-km maglev track to between Tokyo and Nagoya
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It also plans to export its technology overseas, pitching an offer to the United States
Last month, it held a maglev road show for @placeholder politicians, taking them on a test ride in central Japan.