Some of such systems, like Mino-Arima Electric Tramline (later Hankyu Railway) established by the executives of Hankaku Railway, were invested by the capitalists that gave up their business by the Railway Nationalization Act.
その中には、阪鶴鉄道の幹部が設立した箕面有馬電気軌道（後の阪急電鉄）のように、鉄道国有法によって会社を手放した資本家が出資を行ったものもあった。