Kinki Nippon Tourist and other travel agencies 17 billion yen Final deficit forecast November 11, 16:28
KNT-CT Holdings, a major travel agency that develops Kinki Nippon Tourist, announced that it is expected to have a final deficit of 17 billion yen in the one-year financial results until March next year due to the influence of the new coronavirus.
By the end of March next year, Kinki Nippon Tourist's individual travel stores, which have 138 stores nationwide, will be reduced to about one-third and will be focused on online sales in order to rebuild business performance.
In addition, the company plans to reduce executive compensation and employee wages to solicit voluntary retirement.