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JR East records USD1.5 bn loss in 2Q2020, largest recorded net loss

East Japan Railway Company (JR East) reported a net loss of approximately JPY155.4 billion (USD1.5 billion) in the second quarter of 2020 (nippon.com, 30-Jul-2020). JR East attributed the loss to the decline in travel demand amid the COVID-19 epidemic. The quarterly loss was the largest recorded by the railway operator, exceeding the previous record of JPY61.4 billion (USD0.6 billion), set in 1Q2011, amid the East Japan earthquake. 

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