ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

ANA to cut capital of travel subsidiary to lessen tax burden

JTB and other COVID-hit businesses also downsize to 100 million yen threshold

The capital reduction of ANA Sales will slash its tax burden as it will be regarded as a small to midsize company.

TOKYO -- The coronavirus-hit travel unit of Japanese airline group ANA Holdings will cut its capital 900 million yen ($8.4 million) to 100 million yen in yet another move by a company in the travel sector to downsize for tax purposes.

The decision comes as the industry continues to struggle due to the coronavirus pandemic. The capital reduction of ANA Sales will lessen its tax burden, as it will then be classified as a small or midsize company under Japanese tax law.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more