Society

Japan's convenience chains see ray of hope despite COVID

Oct 09 (Nikkei) - Japanese retailers are seeing a rebound in business as the government tries to balance keeping coronavirus under control with stoking the economy.

"We believe that the impact of the new coronavirus has subsided... We want to move ahead with our efforts at an even faster speed," Takashi Sawada, president of convenience store operator Family Mart told reporters in a teleconference on Wednesday.

In its last press conference as a listed company, Family Mart reported a net loss of 10.7 billion yen ($101 million) for the March to August period. Family Mart will soon be taken private by conglomerate Itochu which recently made a bid to buy the convenience store chain.

Operating profit for the June-August quarter was 23.2 billion yen, up substantially from the 9 billion yen reported for the March-May quarter. Family Mart sees this as "a significant improvement in earning power," as daily same-store sales recover.

Family Mart is far from alone in the retail sector experiencing a rebound from the severe business environment in the first quarter. Rival convenience store operators Seven & i Holdings and Lawson also saw an improvement in operating profit for the second quarter from the first, though their earnings remain lackluster compared with previous years.

Family Mart has seen a significant improvement in sales in the June-to-August quarter compared with the preceding. (Photo by Manami Yamada)

Seven & i Holding on Thursday revised up its earnings forecast for fiscal 2020 to 138.5 billion yen from 120 billion yen it predicted in July. Its operating profit in the second quarter rose to 108.3 billion yen from 71.3 billion yen in the first quarter.

Lawson's consolidated operating profit for the June-August quarter was 14 billion yen, rising from the 2.6 billion yen reported in the first quarter.

During the June-August quarter, Japan saw a second wave of coronavirus infections, with many more cases than during the first. However, the government did not declare a state of emergency, like it did earlier, as it did not want to damage the economy further.

LDP leadership race heads to runoff after no candidate wins majority

The race to become the leader of Japan's main ruling Liberal Democratic Party has come down to a runoff between Takaichi Sanae and Ishiba Shigeru. The winner is virtually assured of becoming the next prime minister. (NHK)

Hakamada Case Ends With Acquittal After 58 Years

The Hakamada case, a decades-long legal struggle, ended with an acquittal for Iwao Hakamada (88), who, along with his sister Hideko, fought for 58 years. Hakamada was suspected of the 1966 murder of a miso company executive’s family.

Japan launches information-gathering satellite on H2A rocket

A Japanese government information-gathering satellite has successfully been put into a planned orbit around Earth. (NHK)

New Red Lights for Japan's Police Cars

Japan's National Police Agency is introducing new patrol cars equipped with red lights designed to assist people with hearing impairments, flashing differently depending on whether the vehicle is on an emergency run or a routine patrol.

Over 300 New Geoglyphs Discovered by Yamagata University in Nazca

Yamagata University, which has been conducting research on the Nazca geoglyphs in Peru, announced the discovery of over 300 new geoglyphs, depicting a variety of subjects, including humans and animals.

MEDIA CHANNELS

MORE Society NEWS

Australia nabs four Japanese for smuggling cigarettes

Four Japanese men have been caught at an Australian airport on suspicion of trying to smuggle a large amount of cigarettes into the country. (NHK)

New Red Lights for Japan's Police Cars

Former 'Breaking Down' Representative Arrested in Fake Investment Scheme

The former representative of the martial arts event company 'Breaking Down,' Yugo Itagaki, along with two other individuals, has been arrested by the Tokyo Metropolitan Police on charges of defrauding a company executive out of 80 million yen.

Woman in Floral Mini-Skirt Targets Zoo Outlets with Mysterious Tape

Strange incidents involving a woman placing black tape on outlets have been occurring around zoos in the Izu area of Shizuoka Prefecture.

Japanese Households with Buddhist Altars Has Drastically Decreased

As the number of households with Buddhist altars continues to decline, largely due to space limitations in modern housing, wholesalers of Buddhist goods are struggling with unsold inventory.

Twelve Referred to Prosecutors for Alleged Abuse at Kuwana Festival Horse Event

Twelve individuals involved in the traditional 'Ageuma Shinji' horse event held last year at Tado Shrine in Kuwana City, Mie Prefecture, have been referred to prosecutors on allegations of violent behavior toward horses, including forcing them up steep slopes.

Man Attacks Female Student to Steal Phone

A 39-year-old man has been arrested on suspicion of attacking a female university student by covering her head with a bag and attempting to strangle her.

Video of Penguins Chasing Butterfly Goes Viral

A group of Humboldt penguins at Tokuyama Zoo in Yamaguchi Prefecture has captured people's hearts, as they chase a butterfly that had accidentally flown into their pool enclosure.

< 2 3 4 5 >