CORRECTED: JTB to raise 30 bil. yen to cushion pandemic-hit travel demand

Economy Society

JTB Corp. said Tuesday it will raise 30 billion yen ($271 mil.) on Sept. 30 to bolster its capital base dented by shrinking travel demand in the midst of the coronavirus pandemic. The major travel agency will raise the capital through a third-party allotment of preferred shares with a fund created by Mizuho Bank, MUFG Bank and Sumitomo Mitsui Banking Corp. -- which are JTB's main banks -- as well as the Development Bank of Japan. The new capital will be used for further digitalization of the company such as expanding online travel consultation services to better compete with internet-based tra...

Kyodo News

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