Transport

JR Central Lowers Earnings Forecast: Yomiuri

Japanese railway group JR Central sharply lowered its consolidated earnings forecast for the fiscal year ending March 2022 from a 15 billion yen surplus to a 30 billion yen deficit, Yomiuri Shimbun reported.

The company has been hit by Japan’s continuing high rates of coronavirus, which affected its flagship Tokaido Shinkansen high-speed route.

Revenues from April to September period exceeded the same period in 2020, but in July-September, during a Covid-related state of emergency, the company took in less than 40% of pre-pandemic revenues.

Read the full report: Yomiuri Shimbun

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

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