Profits Up for Restaurant Giants

Feb 15, 2024 | News On Japan

TOKYO - Two major family restaurant chains in Japan have reported their annual financial results, showing an increase in net profits due to the recovery in the number of customers following the downgrading of COVID-19 to a Class 5 infectious disease.

Among these, Skylark Holdings, which operates chains such as "Gusto," announced that its group sales for the past year amounted to 354.8 billion yen, a 16.8% increase from the previous year. The final balance of profit and loss turned from a deficit of 6.3 billion yen the previous year to a profit of 4.7 billion yen. The company has attributed this turnaround to intensified efforts to procure the same ingredients across multiple brands to reduce costs, as well as to the expansion of low-priced side menus, which led to an increase in the number of orders per customer and a recovery in the number of visitors. The company plans to open approximately 300 new stores over the next three years, focusing on urban areas, in response to the recovery in demand for dining out. During an online press conference, Chairman Makoto Tani stated, "After the pandemic, it has become clear that while consumers are saving on food at home, they still want to enjoy dining out. We will continue to offer menus that combine affordable products with high-value items."

On the other hand, Royal Holdings, which operates restaurants such as "Royal Host," reported group sales of 138.9 billion yen for the past year, a 33.6% increase over the previous year. Furthermore, the final profit was 4 billion yen, up 46.5% from the previous year. The increase in restaurant visitors due to the reclassification of COVID-19, as well as the recovery of inbound tourism, contributed to a strong performance in the hotel business, boosting profits.

Source: NHK

Typhoons No. 28 and 29 Bring High Waves to Japan's Pacific Coast

Two typhoons moving across the Pacific southeast of Japan are expected to remain well away from the Japanese mainland, but powerful swells could bring rough seas to a wide stretch of the country's Pacific coastline throughout the three-day holiday weekend, according to forecasts updated at 3 a.m. on October 10.

Cyberattacks Spread Across Japan

A series of cyberattacks has disrupted business operations and exposed millions of customer records across Japan, with a ransomware attack on a cloud service provider affecting 495 companies and local governments nationwide, while convenience store operator Lawson has disclosed a separate breach involving more than 2.15 million personal information records.

Japan's First 360-Degree Projection Mapping Opens in Osaka

Japan's first 360-degree projection mapping show will open at the Osaka City Museum of Fine Arts on October 10, transforming the historic building into an immersive world of light, music, and seasonal imagery, with organizers hoping the attraction will also help stimulate the city's nighttime economy.

Tokyo University Professor Wins Nobel Prize in Chemistry

Tokyo University of Science professor emeritus Kenzo Soai has been awarded this year's Nobel Prize in Chemistry together with French chemist Henri B. Kagan for discoveries that transformed scientists' understanding of how chemical reactions can favor one of two mirror-image forms of a molecule.

US Military Halts All Okinawa Operations for 48 Hours

The US military suspended activities by all forces stationed in Okinawa for 48 hours from noon on October 7, an unusual measure following the arrest of a US Marine in connection with a robbery and murder case that has renewed scrutiny of crimes involving American service members.

MEDIA CHANNELS

MORE Business NEWS

Nikkei Tumbles As AI Rally Reverses

Tokyo stocks fell sharply on June 26 as investors locked in profits from Japan’s record-setting AI-driven rally, with SoftBank Group and chip-related shares leading a broad retreat after reports that OpenAI may delay its initial public offering.

Japan's August Current Account Surplus Exceeds 4 Trillion Yen, Up 12%

Japan recorded a current account surplus of 4.062 trillion yen in August, an increase of 12% from a year earlier, driven primarily by a sharp rise in income from overseas investments, even as higher crude oil prices pushed the country's trade balance into deficit.

Japan's Household Spending Falls 3.1% in August, Ninth Straight Monthly Decline

Household spending in Japan fell 3.1% in August from a year earlier, marking the ninth consecutive month of decline as rising food prices continued to weigh on consumer budgets, according to the latest household expenditure survey released by the Ministry of Internal Affairs and Communications on October 9.

Nikkei Stalls Near 67,000 as Oil and Yen Risks Offset Financial Gains

Tokyo stocks ended nearly unchanged on August 12, with the Nikkei 225 at 66,988.82, as gains in energy and financial shares offset weakness in electronics and pharmaceuticals while investors weighed higher crude oil prices, a weaker yen and growing expectations for another Bank of Japan rate increase.

Cyberattacks on Japanese Companies Expose Structural Weaknesses

Japan is entering a more difficult phase in its cybersecurity challenge, as a succession of major data breaches and ransomware attacks exposes weaknesses not only in corporate IT systems but also in supplier networks, governance structures and operational resilience.

Japan Beer Giants Raided Over Suspected Price-Fixing Cartel

Japan's four largest beer makers were subjected to simultaneous compulsory searches on October 7 over suspicions they coordinated wholesale prices for beer and other alcoholic beverages, in a rare cartel investigation that could lead to criminal charges.

Nikkei Falls as Profit-Taking Hits AI and Chip Shares

Tokyo stocks fell on October 7, with the Nikkei 225 closing at 70,036, down 648 points, as investors took profits in semiconductor and artificial intelligence-related shares after the index’s rapid climb above 70,000 earlier in the week.

How Japan Is Learning to Live With Years of Rising Prices

Japan's prolonged period of rising prices is continuing to squeeze households and businesses, driven by the weak yen, higher raw material costs and rising wages, forcing consumers to change how they shop and cook while companies search for ways to contain costs without losing customers.

< 2 3 4 5 >