[en] Wave functions of the coupled channel system with the equivalent potentials are compared with the wave functions generated by the original non-local potentials. The equivalent potentials to be used in the coupled channel equation are constructed by using the WKB prescription proposed in a previous paper of this series. Under a condition which is usually satisfied, the Perey factors of the coupled channel system are found to be given by the diabatic Perey factors. Although the probability densities and the velocities due to the equivalent potentials are different from the corresponding densities and velocities due to the original non-local potentials, the probability flux by the equivalent potentials is found to have the same value in each channel as the probability flux by the original non-local potentials. (author)