Mos Food Services Estimates 1st Net Loss in 11 Years

Economy

Tokyo, Oct. 30 (Jiji Press)--Mos Food Services Inc. <8153> expects to log its first consolidated net loss in 11 years for the year through March 2019, according to the Japanese hamburger chain operator.

It forecasts a net loss of 800 million yen, against its initial estimate of 2.5 billion yen in net profit.

The dismal outlook comes as Mos Food Services is set to pay a total of 961 million yen to some 1,100 member stores across the country to make up for a fall in their sales following food poisoning cases, the company said Monday.

In August, a total of 28 customers who dined at Mos Burger hamburger restaurants in Tokyo and seven prefectures in the Kanto-Koshin eastern Japan region complained of apparent food poisoning symptoms.

Mos Food Services concluded that it is highly likely that the cases were caused by food delivered from the headquarters to the restaurants.

[Copyright The Jiji Press, Ltd.]

Jiji Press