H.I.S. Posts Narrower Loss in 9-Month Period
Tokyo, Sept. 14 (Jiji Press)--Japanese travel agency H.I.S. Co. said Wednesday its consolidated net loss shrank to 5.6 billion yen in the nine months ended in July from 33.2 billion yen a year before.
The company’s domestic travel and hotel businesses improved after the government relaxed restrictions related to the COVID-19 pandemic. But the overseas travel business, a key source of revenue for the company, was slow to recover.
H.I.S. did not report full-year earnings forecasts, citing a raft of uncertainties.
Sales climbed 64.1 pct to 163.9 billion yen as domestic travel sales recovered to the level of the nine months ended in July 2019, before the pandemic.
Still, sales from overseas travel operations were about 40 pct of the pre-pandemic level apparently because of a weak yen that makes foreign trips expensive for Japanese people.
[Copyright The Jiji Press, Ltd.]