Travel agency H.I.S. sales plunge 80% in Nov.-Jan. quarter over virus

Economy Society

Major Japanese travel agency H.I.S. Co. said Monday its sales plunged 80.5 percent to 38.86 billion yen ($356 million) in the November-January quarter from a year earlier due to a sharp decrease in travel demand caused by the continuing novel coronavirus pandemic. H.I.S. logged an operating loss of 11.68 billion yen and a net loss of 7.98 billion yen in the three months through January, as the virus hit the tourism industry hard. Governments around the world have restricted the entry of travelers at their borders in a bid to contain the COVID-19 disease, while the Japanese government suspended...

Kyodo News

Kyodo News Society