Veltra has revised its financial forecast for the fiscal year ending December 2024 downwards.
The company now expects revenue of 4.2 billion yen (previously forecasted at 5.46 billion yen), an operating loss of 318 million yen (previously forecasted as an operating profit of 350 million yen), an ordinary loss of 418 million yen (previously forecasted as an ordinary profit of 340 million yen), and a net loss of 450 million yen (previously forecasted as a net profit of 264 million yen).
In its overseas travel business, the number of Japanese travelers to key areas such as Hawaiian and Guam beach resorts, as well as North America and Europe, was significantly lower than expected, at approximately 20-45%. Challenges such as the depreciation of the yen, local price increases leading to higher product prices, and a narrowing of customer demographics and needs have delayed the company’s efforts to expand its product offerings to a broader customer base, resulting in fewer bookings. The domestic travel business also suffered due to the effects of price increases and a stagnation in domestic travel among Japanese people.
