Major Japanese train operator East Japan Railway says income has plummeted on declining passenger numbers amid the coronavirus pandemic.
Executives say revenue from railway services in the fiscal year through March dropped by 49.4 percent compared to fiscal 2018, before the pandemic.
Demand for travel and business trips plunged, and the number of commuters declined.
The company said in January that it projected a net loss of 450 billion yen, or about 4.1 billion dollars, for the last fiscal year.
JR East's president says the company plans to weather the situation with cost cuts and the development of new services to accommodate the changing lifestyle.