JTB, the largest travel industry, announced that it will receive a total of 30 billion yen in capital support from three major banks and a fund operated by the Development Bank of Japan, a government-affiliated financial institution.

The company says it will strengthen its financial base, which has deteriorated due to the effects of the new coronavirus.

According to the announcement, JTB will issue non-voting preferred stocks at the end of next month, with Mizuho Bank, Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corporation, which is the main trading bank, and Sumitomo Mitsui Banking Corporation as the underwriters. In total, we will receive capital support of 30 billion yen.

JTB said that travel demand fell sharply due to the impact of the new coronavirus, and last year's business results were that the final profit and loss of the entire group was a record high of 105.1 billion yen, strengthening the deteriorated financial base. doing.

We also want to use the money we get to digitize travel reservations and develop compelling tourism content.

JTB says, "Although demand is expected to recover due to the spread of vaccines, the future outlook remains uncertain due to the emergence of mutant viruses, etc." ..