JTC's First-Half Sales to Non-Chinese Customers Rise 38.8%

JTC's sales to non-Chinese customers increased significantly.

According to JTC on November 2, the company recorded consolidated revenue of KRW 78.92 billion and net profit of KRW 1.15 billion from March through August this year. Revenue fell 54.2% year on year due to a decline in Chinese group tourists amid tensions between China and Japan. However, cost efficiencies enabled the company to remain profitable in the second quarter, following a profit in the first quarter.

In the first half, sales to non-Chinese customers rose 38.8% year on year, continuing their growth. By nationality, sales to Korean and Taiwanese customers increased 39.0% and 11.6%, respectively. Sales to Thai customers rose 11.7%, reaching their highest first-half level since the COVID-19 pandemic. Sales to customers from other Southeast Asian countries also surged 338.8%.

The company is also continuing its cost-efficiency policies. By improving the efficiency of its store and workforce operations, it cut expenses excluding promotional costs within selling, general and administrative expenses by 19.7% year on year in the first half. Labor costs fell 28.2%, and the company also pursued asset efficiency measures, including the sale of idle assets.

“We will continue to respond flexibly to changes in tourism demand by nationality and do our utmost to build a foundation for stable growth, including by expanding our duty-free business in Korea,” said JTC CEO Yamamoto Fumiya.

This content was produced with the assistance of AI translation services.