Professional Documents
Culture Documents
)
card, each player in turn must either:
1. purchase the currently offered certificate at face
value, or;
2. place a bid on another unowned private company
certificate, or;
3. pass
Placing A Bid
A bid may only be placed on an unowned private company
certificate that is not the currently offered certificate. Only one
bid may be placed on a player's turn. When a player places a
bid on a private company certificate, the amount bid must be at
least 5 higher than both the certificate's face value and the
highest bid made for that certificate by any other player. A
player may not bid twice on the same private company
certificate. The amount of money bid must be set aside by the
player until ownership of that particular private company
certificate is determined. [I suggest placing the bid money near
the certificate, on the side closest to the bidding player.]
Passing
If all players pass in turn while the #1 Gihoku Light Rail
(
) certificate is currently offered, reduce its face
value by 5 . [Suggestion: place 5 on the certificate as a
reminder.] If the #1 Gihoku Light Rail (
)
certificate is currently offered and its face value has been
reduced to 0 , the active player may not pass, and must
purchase it for 0 .
If all players pass in turn while a certificate other than the the
#1 Gihoku Light Rail (
) certificate is currently
offered, the private companies pay out revenue (the revenue
printed on each certificate is paid to the owner by the bank),
then the initial stock round continues.
End of ISR
After all of the private company certificates have been
purchased, the priority dealer (
) card is given the the
player to the left of the last player to buy a certificate. Now the
first normal stock round (SR) begins.
1886
4. Private Companies
No.
Name
Abbreviation
GLR
20
BRR
40
Bisai RR
(
Face
Value
Revenue
Location
Power
C4 Kurono
(
)
10
I6
Tsushima
(
)
Kagamigahara RR
(
)
KGH
70
15
D11
Inuyama
(
)
Nishisan Tramway
(
)
NT
110
20
L15
Okazaki
(
)
4.5
Government RR
Private (
)
GRP
130
M10
Taketoyo
(
)
Sang RR
(
)
SRR
160
25
O4
(mountain
hex)
Aichi Horsecar
(
)
AH
220
30
I8 Nishi
Biwajima
(
1886
5. Public Information
The red station marker placed by the GRR during this process
does not require a track connection to any existing GRR track,
and can be used as a railhead (to extend track from and run
trains from).
At the end of each stock round, the GRR may lay as many
yellow tiles as the number of shares (not certificates) that were
bought from the initial offering during this stock round. Keep
track of how many tiles the Government RR has placed this
way. It may only place one tile per Government RR share sold
from the initial offering, i.e. a maximum of ten tiles per game.
Laying tiles at the end of an SR does not prevent the GRR from
laying or upgrading tiles in an OR.
Example: A player buys the GRR director's double share
during a stock round. All players pass in turn, signalling the
end of the stock round. As a final step before moving on to the
OR, the GRR director places a free red station marker on Gero
and its free white station marker on Taketoyo, then lays two
yellow tiles. An operating round then begins. When the GRR
operates, the GRR director does not place a home base token,
since it was already placed at the end of the SR. The GRR may
then lay one tile.
During the regular ORs, in its turn, the GRR can either lay 1 or
2 yellow tiles, or upgrade one tile.
Until the Tkaid line (
), Ch line (
),
and Kzen line (
) are all complete, the Government
RR may only pay a half dividend [keeping the balance] or
withhold and pay no dividend. When all three lines are
complete, it gains the option of paying a full dividend, and the
half dividend option remains available.
The Tkaid line (
) is complete when there is track
connecting hex F1 Maibara (
) with hex O20 Hamamatsu
(
)
The Ch line (
) is complete when there is track
connecting hex J9 Nagoya (
) with hex E20
Nakatsugawa (
)
The Kzen line (
) is complete when there is track
connecting hex E6 Gifu (
) with hex A16 Gero (
)
Station markers of other companies are ignored for the purpose
of completing a line.
The Government RR cannot close due to entering the red
region of the stock market. [If a stock movement would place
its marker in the red region, it stops one square away.]
The Government RR pays half price when placing track tiles.
The Government RR may choose to lay two tiles in its
operating turn, providing both tiles are yellow tiles.
The Government RR may only buy and sell trains at face value.
The Government RR can participate in a merger or acquisition,
but it cannot be absorbed. It can only absorb other companies.
6. End of Game
The game ends when either:
a) a player is bankrupted
b) the bank runs out of money (play out the current set of ORs)
c) the Pacific War begins (this happens when a full set of ORs
have been completed since the beginning of Phase D)
7. Game Winner
The winner is the player with the highest value of combined
cash and assets at the end of the game. A bankrupt player may
win.
1886
1886
Player A has
NER: 50% (director) for a total share value of 625
ARR: 40% (director) for a total share value of 360
Player B has
NER: 10% for a total share value of 125
ARR: 30% for a total share value of 270
Player C has
NER: 20% for a total share value of 250
Player A proposes a merger between NER and ARR, with NER
absorbing ARR. As he owns 50% of NER and the 10% of NER
in the open market must vote in support, the majority of NER
stock backs the merger. Likewise, Player A's 40% stake in
ARR and the 20% of ARR in the open market vote in favour.
The merger goes ahead.
1 - The post-merger company will be NER, as per Player A's
proposal.
2 - The price of the NER post-merger will be 200 (closest
number to the left of 215 on the chart), so the NER share
price token is moved to 200 . The cash, trains and leftover
tokens of the ARR are moved to the NER charter; the par price
token of the ARR is also put on the NER charter as a reminder.
3 - Share exchanges
Player A exchanges his 50% of NER and 40% of
ARR with 40% of 'Merger' shares (The President
certificate and 2 shares), and takes 100 from the
bank. He then places all his shares of both companies
in the open market.
Player B exchanges his 10% of NER and 30% of
ARR with 20% of 'Merger' shares (two 10% share
certificates). He then places all his shares of both
companies in the open market.
Player C exchanges his 20% of NER with 10% of the
'Merger' shares. He then places his shares of the NER
in the open market.
Shares of the NER that are still in the initial offering
are put in the open market, and the shares of the ARR
are put face down in their box in the initial offering.
The ARR shares will not be used again.
All players now exchange the 'Merger' shares with
the NER shares in the open market. 30% of NER
remains in the open market.
4 - Train limit
If the NER has more trains than the limit (including the merger
bonus of one extra train), it has to discard the trains in excess.
5 - Station markers
The director of the NER can now take back from the board to
the NER charter as many station markers of either companies
he wants, and has to remove any illegal markers (at least one
token from multi-slot cities with a one token each of the NER
and ARR).
The operating turn proceeds normally (if the merger was made
at the beginning of the NER operating turn, then the NER can
now lay a tile and operate normally.
As a result of the merger, the players' net worth changed as
follows:
Player A had 985 prior to the merger, and 900 after the
merge, losing 85
Player B had 395 prior to the merger, and 400 , gaining
5
Player C had 250 prior to the merger, and 200 , losing 50
Merger Example
Here is an example of a merger between the NER and the ARR
in a three player game. The initial situation is as follows:
Nagoya Electric Railroad (NER)
-- 70% in player hands
-- 20% in the IPO
-- 10% in the open market
-- share price 125
Atsumi Railroad (ARR)
-- 70% in player hands
-- 10% in the IPO
-- 20% in the open market
-- share price 90
February 13, 2010
1886
13. Phases
Phase
Triggered
By
Tiles
Available
Trains
Available
ORs
Train
Limit
GRR
Train
Limit
Start of
game
None
None
End of
initial
stock
round
Yellow
Purchase
of first 3
train
Yellow,
green
2, 3
Purchase
of first 4
train
Yellow,
green
3, 4
Purchase
of first 5
train
Yellow,
green,
brown
3, 4, 5
Purchase
of first 6
train
Yellow,
green,
brown,
grey
4, 5, 6, D
Purchase
of first D
train
Yellow,
green,
brown,
grey
5, 6, D
Notes
Initial stock round
Certificates cannot be sold
Privates may not be purchased by public
companies
Mergers and acquisitions not allowed
Offboard areas use top revenue box
Privates may be purchased by public companies
Mergers and acquisitions not allowed
Offboard areas use top revenue box
2 trains rust
Privates may be purchased by public companies
Mergers and acquisitions allowed
Offboard areas use top revenue box
Privates closed
Mergers and acquisitions allowed
Offboard areas use middle '5' revenue box
3 trains rust
Privates closed
Mergers and acquisitions allowed
Offboard areas use middle '5' revenue box
Two-dot small cities may be upgraded
Diesels available (first diesel may be bought by
trade-in)
If no diesel is bought during an OR in phase 6,
finish the actual OR and move to the SR (when
in phase 5, if one company buys a 6-train, and
no D-train is bought during the same OR, finish
the OR and move to the next turn's SR)
If a diesel is purchased during an OR in phase 6,
play out the current set of ORs before
implementing phase D
The Showa Depression occurs. During the
Showa depression, shares can't be bought from
the initial offering, and each time a share is
sold, the price drops two rows instead of one. At
the end of the stock round, any companies that
have shares in the open market have their share
price drop one row. If the price falls while the
token is already on the bottom row during the
Showa depression (for any reason), the counter
is moved one row up and one to the left.
In phase 6 only, the certificate limit is
calculated using only floated companies (i.e.
don't include companies that haven't yet sold
enough shares to float).
One OR only, due to reduced economic activity
during the Showa depression
4 trains rust
Unlimited diesel (D) train cards available (reuse rusted cards as diesels if needed)
Privates closed
Mergers and acquisitions allowed
Offboard areas use bottom 'D' revenue box
Two-dot small cities may be upgraded
1886
Step 0
Must place home base free station marker, if company has just
floated (exception: GRR).
Step 1
May place track or upgrade track. The placing company must
be able to make use of the new track, as per 1856. There is no
tile upgrade chart in the original Japanese, but most of the tiles
are present in either 1830 or 1856, so catch a vibe from those.
Small cities may be upgraded from Phase 6 onwards (as per
1856), but can't be downgraded. Remember that the
Government RR has many special rules relating to track laying.
If a hex is marked with a letter (B, NY, or OO), it can only be
upgraded using tiles with a matching letter. Letter tiles may not
be placed in unlettered hexes.
Exception: L tiles work as per L tiles in 1856, i.e. unlettered
yellow and green tiles may be placed in a L hex, but only
brown L tiles may be placed in an L hex. Brown L tiles may not
be placed in a non-L hex. In 1886, L stands for Large, and the
tiles represent cities that have chosen to limit rail development
to provide balanced land use (presumably in the form of highdensity housing).
Step 2
May place station marker, unless doing so would block another
company's home base. A company may not place a second
station marker on a hex that already contains one of that
company's station markers. The placing company must have a
track connection to the city where the station marker is to be
placed. Exception: The GRR may place red station markers on
its reserved offboard hexes without needing a track connection,
creating further railheads. These represent government track
coming into the board from the Tokyo area.
Step 3
Must run trains. Same rules as 1830 (small cities count as
stops).
Step 4
Must pay dividend or withhold. Check whether company can
pay full dividend, half dividend, or both. Full dividend moves
stock right one space. Half dividend, no change. Withholding,
left one space. Shares held by the initial offering pay into the
company treasury, shares in the open market pay into the bank.
Step 5
Must buy at least one train, if trainless. Otherwise, may buy any
number of trains. The number of D (diesel) trains included with
the game is not an intentional limit. [Rusted train cards may be
reused as diesels if the supplied diesel cards run out.]
1886
Abbreviation
Government RR
(
)
GRR
Black
Nagoya Electric
RR
(
)
NER
Light Red
I8 Nishi Biwajima
(
)
Sang Electric
Rail
(
)
SER
Yellow
P3 Nakagawa
(
)
Mikawa RR
(
)
MRR
Dark Blue
M12 Hekinan
(
)
Kansai RR
(
)
KRR
Light Green
M4 Yokka City
(
)
Aichi Electric RR
(
)
AER
Dark Green
L9 tagawa
(
)
MET
Dark Red
B9 Seki
( )
IER
Pink
O6 Shin
( )
TRR
Light Blue
D15 Kani
(
)
Seto Electric RR
(
)
SRR
Grey
H15 Seto
(
)
Atsumi RR
(
)
ARR
White
P17 Kji
(
)
Mino Electric
Tramway
(
Kanji
Symbol
Station
Markers
4 white + 3
red (for
offboard
lines)
Colour
Ise Electric RR
(
)
Tmi RR
(
Home Base
M10 Taketoyo
(
)
1886
18. Glossary
1886