Seven & i, Lawson Unable to Release FY 2020 Forecasts

Economy

Tokyo, April 9 (Jiji Press)--Japanese retailers Seven & i Holdings Co. <3382> and Lawson Inc. <2651> said Thursday that they cannot release earnings forecasts for fiscal 2020 due to uncertainties posed by the coronavirus outbreak.

Economic activities are slowing markedly because of the government's declaration of a state of emergency over the virus outbreak in Tokyo and six other prefectures. This has made it even more difficult to predict future earnings.

At a teleconference, Seven & i President Ryuichi Isaka said that "there are many uncertainties" ahead over the year to February 2021.

"It is extremely difficult for us to give numbers" to the effects of the COVID-19 crisis, he added.

Seven & i put off the release of a new medium-term business plan as well.

[Copyright The Jiji Press, Ltd.]

Jiji Press