By Kosaku Narioka
H.I.S. shares fell sharply Thursday morning after the Japanese travel company posted a nine-month net loss amid a continued slump in international travel demand.
The stock was recently 6.4% lower at 1,851 yen after falling as much as 7.9% earlier.
H.I.S. said after Wednesday’s market close that it booked a net loss of Y5.635 billion ($38.2 million) for the nine months ended July 31, compared with a Y33.26 billion net loss in the year-earlier period.
Revenue rose 64% to Y163.98 billion, led by a recovery in domestic travel demand. Revenue was still 71% lower than the prepandemic nine-month period ended July 2019.
H.I.S. said international travel demand has begun to recover, as many countries have lifted pandemic-related restrictions and airlines are increasing international flights.
The travel company didn’t offer earnings forecasts for the year ending October, citing uncertain factors.
Write to Kosaku Narioka at [email protected]
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