TOKYO -- The postponement of the 2020 Summer Olympics in Tokyo is particularly painful news for railway operator Seibu Holdings, whose hotel operations had buoyed its stock in the run-up to the games but have now become a drag amid the coronavirus pandemic.
The shares have sunk roughly 30% from a February high, faring worse than such other rail companies as Tokyu and Tobu Railway. This is because the possibility of an Olympics-driven earnings rebound in the year ending March 2021 "has been put on ice," an analyst said.
