JR Hokkaido Incurs Record Net Loss

Economy

Sapporo, April 26 (Jiji Press)--Hokkaido Railway Co., or JR Hokkaido, on Friday reported a record consolidated net loss of 17.9 billion yen for the year through March, even larger than the previous year's loss of 8.7 billion yen.

Sales fell 1.6 pct to 171 billion yen, as railway service revenue slid 2.2 pct to 71.2 billion yen following a big typhoon and a powerful earthquake that hit Hokkaido in September last year.

Costs for postdisaster restoration work and bus services provided to those affected by suspended trains also contributed to the net loss, according to the railway operator.

[EARNINGS]

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