JTB Logs Record Net Loss of 15 B. Yen

Economy

Tokyo, May 24 (Jiji Press)--Major Japanese travel agency JTB Corp. on Friday reported a record consolidated net loss of 15,116 million yen for the year that ended in March.

The poor performance reflected the weakness of a subsidiary in Brazil, whose economy is sluggish, JTB officials said.

JTB fell into the red for the first time in nine years. In the year to March 2018, the company earned a net profit of 1,043 million yen.

For the latest year, sales totaled 1,367,396 million yen, up 3.4 pct.

Domestic sales of travel products for individuals decreased due to natural disasters, but sales to corporate clients were robust.

[Copyright The Jiji Press, Ltd.]

Jiji Press