H.I.S. reports net income up 146%
H.I.S. Co. Ltd, a leading travel and airline ticket agency, has announced results for the first half ended April 30, 2011. Consolidated net sales increased 14.1% year-on-year to 175,923 million yen, consolidated operating income rose 44.6% to 3,415 million yen, ordinary income rose 117.7% year-on-year to 4,343 million yen and net income also rose 146.0% year-on-year to 4,571 million yen.
Within the travel industry, demand for overseas travel has been on an uptrend, supported by the expansion of international routes from Haneda Airport in October 2010 and the continuing rise in the yen. However, according to the Japan National Tourist Organization (JNTO), the estimated number of Japanese departing the country from November 2010 through April 2011 is expected to have fallen by 0.4% on the previous year to around 7,855,000 people, a decrease of approximately 35,000 people due to the Great East Japan Earthquake.