TOKYO -- JTB, Japan's biggest travel agency, anticipates a 53% drop in consolidated operating profit this fiscal year on elevated labor costs and sluggish overseas travel demand stemming from the historically weak yen.
The company said Friday that it expects to post operating profit of 11.6 billion yen ($74 million) for the year ending March 2025. Sales are projected to rise 7% to 1.16 trillion yen on higher unit prices for overseas travel due to rising prices and the soft yen, with domestic travel seen increasing slightly.
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