TOKYO -- Japan's second-largest tour agency, H.I.S., is looking to reduce its reliance on travel to 20% of its overall business from the current 90% by expanding into other sectors such as noodle restaurants and the retail market for electricity, CEO Hideo Sawada said on Tuesday.
The company has been hit hard by coronavirus travel restrictions imposed amid the pandemic. It expects a net loss of about 31.8 billion yen ($303 million) in the fiscal year ended October. The company is forecasting 424 billion yen in sales.
