Matsumotokiyoshi Logs Record Sales, Net Profit in April-Sept.

Economy

Tokyo, Nov. 13 (Jiji Press)--Drug store operator Matsumotokiyoshi Holdings Co. <3088> said Wednesday its sales and net profit in April-September hit record highs for a fiscal first-half period, thanks to last-minute demand before the Oct. 1 consumption tax hike and brisk demand from foreign visitors.

In the first half of fiscal 2019, sales increased 4.6 pct from a year before to 300,415 million yen, and net profit rose 11.8 pct to 12,952 million yen.

"We succeeded in responding strategically to last-minute demand before the tax hike," President Kiyoo Matsumoto told a press conference.

The consumption tax was raised from 8 pct to 10 pct.

On talks about the planned business integration with industry peer Cocokara Fine Inc. <3098>, agreed in August, Matsumoto said, "We are having discussions toward reaching an agreement next January," when Matsumotokiyoshi's exclusive negotiating right will expire.

[Copyright The Jiji Press, Ltd.]

Jiji Press