3 JR Group Firms Project Net Losses for 2nd Straight Year

Economy

Tokyo, Nov. 2 (Jiji Press)--Three of the four listed Japan Railways Group firms expect to incur group net losses for the second straight year in fiscal 2021, which ends next March, in the face of the prolonged novel coronavirus crisis, according to their earnings reports released by Tuesday.

A recovery in passenger demand remains slow amid the pandemic.

Of the three firms, East Japan Railway Co. <9020>, or JR East, estimates its fiscal 2021 net loss at 160 billion yen while Central Japan Railway Co. <9022>, or JR Tokai, puts its loss at 30 billion yen. West Japan Railway Co. <9021>, or JR West, projects a net loss of between 81.5 billion yen and 116.5 billion yen.

Kyushu Railway Co. <9142>, or JR Kyushu, lowered its fiscal 2021 group net profit forecast to 3.4 billion yen from 12.9 billion yen.

For the April-September first half, all four companies were in the red, with net loss coming to 145.2 billion yen at JR East, 44.4 billion yen at JR Tokai, 68.6 billion yen at JR West and 2 billion yen at JR Kyushu.

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Jiji Press