KNT-CT Holdings, the Tokyo-listed travel group, has lowered its profit forecast for the year to March 2027, and operating profit takes the biggest hit. It now expects ¥5bn, against ¥6.2bn in the forecast it published on 13 May 2026, a cut of 19.4%.
What the forecast cut covers
Revenue is the smallest change. The group now expects ¥302bn, down from ¥307bn, a reduction of 1.6%. Ordinary profit is guided at ¥6.2bn, down from ¥7bn (an 11.4% cut). Net profit attributable to owners of the parent is guided at ¥5bn, down from ¥6bn (a 16.7% cut). Earnings per share are now forecast at ¥172.86, against ¥209.46 before.
| Measure | Previous forecast | Revised forecast | Change |
|---|---|---|---|
| Revenue | ¥307bn | ¥302bn | -1.6% |
| Operating profit | ¥6.2bn | ¥5bn | -19.4% |
| Ordinary profit | ¥7bn | ¥6.2bn | -11.4% |
| Net profit attributable to owners | ¥6bn | ¥5bn | -16.7% |
The forecast cut and the year-on-year decline are separate measures. The notice lists last year's results for reference: revenue of ¥297.07bn, operating profit of ¥6.07bn, ordinary profit of ¥7.56bn and net profit of ¥9.68bn, with earnings per share of ¥320.57. Against that, the new operating profit guide is below last year's result, and the net profit guide is well below it.
The company's explanation
KNT-CT Holdings gives three reasons for missing its original forecast. The first is the prolonged effect of the situation in the Middle East. The second is sluggish domestic travel. The third is a drop in inbound demand linked to a deterioration in Japan-China relations. These are the company's explanations; the notice offers no breakdown of how much each factor cost.
The notice adds a fourth item: higher costs tied to a business reorganization that will merge four companies on 1 April 2027. The notice does not name the four companies or put a figure on the integration costs.
The company adds the usual caveat that the forecast rests on information available on 10 November 2026 and that actual results may differ.
Parent company
Kintetsu Group Holdings, which lists KNT-CT Holdings as a consolidated subsidiary, issued its own notice the same day. It says the subsidiary's revision does not change its consolidated forecast.