Japan Post to End Operations at 11 "Kanpo no Yado" Inns

Economy Politics

Tokyo, May 13 (Jiji Press)--Japan Post Holdings Co. <6178> said Monday it will end operations on Dec. 20 this year at 11 of its "Kanpo no Yado" Japanese-style inn facilities, including one in Hakone, Kanagawa Prefecture, south of Tokyo.

Japan Post is considering closing or selling the 11 inns as it sees difficulty realizing earnings improvements at the aging facilities.

The company is facing earnings deterioration at all of its 53 hotels and inns across the country, registering operating losses from its entire hotel businesses. It plans to close or sell unprofitable facilities in stages.

The 11 Kanpo no Yado facilities also include ones in the southwestern Japan city of Beppu, the central city of Toyama, and the northeastern city of Koriyama.

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