DJ Central Japan Railway May Be Weighed by Slower Travel Recovery -- Market Talk
0422 GMT - Central Japan Railway's earnings are likely to be weighed by a slower-than-expected recovery in the number of travelers, Nomura says, as it cuts its target price to Y16,200 from Y17,500. Still, thanks to the Japanese government's lifting of the Covid-19 state of emergency and the progress in vaccination, a recovery in travel demand will likely gather momentum from the October-December period, Nomura says. It is possible for Central Japan Railway to post a fiscal-year operating profit, it says. The railway operator posted operating loss of Y184.75 billion the previous fiscal year amid the pandemic. Nomura keeps its neutral rating. Shares are 1.8% lower at Y17,575. (kosaku.narioka@wsj.com; @kosakunarioka)
(END) Dow Jones Newswires
October 05, 2021 00:22 ET (04:22 GMT)
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