JTB will reduce its capital from 2.3 billion JPY currently to 100 million JPY as of March 31 2021. JTB will be regarded as a small to mid-sized business on the corporate tax system, which will allow JTB to pay corporate tax at lower rate than the current rate on a large-scale business.
JTB posted the most net loss of 78.2 billion JPY in its history for the first half of FY2020 (April to September 2020) and is making every effort to cut about 140 billion JPY in expense by the end of FY2021.
