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Dow Jones Newswires: Japan Airport Terminal shares surge on hopes government will ease border rules

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Japan Airport Terminal Co.
9706,
+5.36%

shares rose sharply Monday morning, following news the Japanese government is considering easing border restrictions that were put in place to curb the spread of Covid-19 infections.

The shares were recently 6.2% higher at 6,140 yen ($43.05) after rising as much as 7.8% earlier.

The Japanese government is planning to ease border restrictions to attract foreign visitors, taking advantage of the yen’s recent weakness, Deputy Chief Cabinet Secretary Seiji Kihara said Sunday in a Fuji Television program.

Kihara said the government is going to consider removing the daily cap on the number of entrants and easing visa requirements.

Japan Airport Terminal, which runs terminal buildings and stores, in August maintained its net-loss forecast for the fiscal year that started in April, citing uncertainty over the outlook for travel demand. The company had booked two consecutive fiscal-year net losses, as the pandemic hit the number of travelers.

Shares of airlines and operators of railways and department stores were also higher on hopes for a recovery in the number of foreign tourists.

Seibu Holdings Inc.
9024,
+5.51%

was up 4.3%, Isetan Mitsukoshi Holdings Ltd.
3099,
+4.79%

was 3.4% higher and ANA Holdings Inc.
9202,
+2.64%

was up 2.3%. The Nikkei Stock Average
NIK,
+1.07%

was 1.2% higher.

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