JTB returns to black ink in April-Sept.

Jiji Press

November 20, 2021

TOKYO (Jiji Press) — Travel agency JTB Corp. said Friday that it logged a net profit of ¥6,733 million in April-September, in a turnaround from a net loss of ¥78,172 million a year before.

Although travel demand remained sluggish in the first half of fiscal 2021 amid the novel coronavirus pandemic, the company strengthened its non-travel operations, including its event management services.

The improvement also reflected a special profit of over ¥30 billion from the sale of assets, including its headquarters building.

At a press conference, JTB President Eijiro Yamakita pinned high hopes on the planned restart of the government’s Go To Travel domestic tourism promotion program, which was included in a new economic stimulus package adopted at an extraordinary cabinet meeting on Friday.

The resumption is expected be a catalyst for the recovery of businesses that have been hit hard by the coronavirus crisis, he said.

JTB had planned to reduce its workforce by 7,200 over the three years through fiscal 2021. But as the company had already shed 8,170 jobs by the end of September, it will resume the hiring of new graduates for those joining the company in April 2023.