Rapid Changes in the Travel Industry Driven by Online Sales, Falling Commissions and Industry Shakeout
First written in FY2017. 4 of 5 entries say "Restated". Latest entry: FY2022.
No other company in this theme has enough history to compare yet.
- FY2022RestatedAnnual report
「The travel industry is being forced to undergo rapid change as a result of airline ticket sales over the internet, declining travel agency commissions on airline ticket sales, industry consolidation and mergers among travel agencies. However, the essence of this change is that the role of travel agencies as intermediaries is disappearing; it does not mean that travel agencies will no longer have a role in producing travel products, for which demand remains strong.」
While identifying structural changes in the travel industry caused by internet sales, declining commissions, and consolidation and mergers as risks, the company continues to view demand for producing travel products as remaining intact. - FY2020RestatedAnnual report
「The travel industry is being forced to undergo rapid change as a result of airline ticket sales over the internet, declining travel agency commissions on airline ticket sales, industry consolidation and mergers among travel agencies. However, the essence of this change is that the role of travel agencies as intermediaries is disappearing; it does not mean that travel agencies will no longer have a role in producing travel products, for which demand remains strong.」
While identifying structural changes in the travel industry caused by internet sales, declining commissions, and consolidation and mergers as risks, the company continues to view demand for producing travel products as remaining intact. - FY2019RestatedAnnual report
「The travel industry is being forced to undergo rapid change as a result of airline ticket sales over the internet, declining travel agency commissions on airline ticket sales, industry consolidation and mergers among travel agencies. However, the essence of this change is that the role of travel agencies as intermediaries is disappearing; it does not mean that travel agencies will no longer have a role in producing travel products, for which demand remains strong.」
While identifying structural changes in the travel industry caused by internet sales, declining commissions, and consolidation and mergers as risks, the company continues to view demand for producing travel products as remaining intact. - FY2018RestatedAnnual report
「The travel industry is being forced to undergo rapid change as a result of airline ticket sales over the internet, declining travel agency commissions on airline ticket sales, industry consolidation and mergers among travel agencies. However, the essence of this change is that the role of travel agencies as intermediaries is disappearing; it does not mean that travel agencies will no longer have a role in producing travel products, for which demand remains strong.」
While identifying structural changes in the travel industry caused by internet sales, declining commissions, and consolidation and mergers as risks, the company continues to view demand for producing travel products as remaining intact. - FY2017First statedAnnual report
「The travel industry is being forced to undergo rapid change as a result of airline ticket sales over the internet, declining travel agency commissions on airline ticket sales, industry consolidation and mergers among travel agencies. However, the essence of this change is that the role of travel agencies as intermediaries is disappearing; it does not mean that travel agencies will no longer have a role in producing travel products, for which demand remains strong.」
Internet sales, declining travel agency commissions, and industry changes caused by consolidation and mergers are described as structural risks relating to travel agencies’ intermediary functions.