(Update) JR East, JR West Bracing for Massive Annual Net Losses
Tokyo/Osaka, Sept. 16 (Jiji Press)--East Japan Railway Co. <9020>, or JR East, and West Japan Railway Co. <9021>, or JR West, expect to suffer consolidated net losses totaling some 650 billion yen in fiscal 2020, due to a slump in travel demand amid the new coronavirus epidemic.
JR East said Wednesday that it forecasts a net loss of 418 billion yen for the year ending in March 2021, against the previous year's net profit of 198,428 million yen. JR West separately said its bottom line is expected to result in a record loss of 240 billion yen, compared with the 89,380-million-yen profit in fiscal 2019.
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