Matsuya Foods Posts Record Sales in Fiscal 2019

Economy

Tokyo, May 12 (Jiji Press)--Matsuya Foods Holdings Co. <9887> has said its consolidated sales in fiscal 2019, which ended in March, rose 8.5 pct from the previous year to a record 106,511 million yen, thanks to brisk demand for limited-time menu items at its Matsuya fast food restaurant chain.

According to its latest earnings report, released Monday, the company logged a net profit of 2,604 million yen, up 18.5 pct. It did not disclose earnings projections for fiscal 2020.

Same-store sales at the fast food restaurant chain increased for 19 consecutive months through February, but declined 5.2 pct in March and tumbled a preliminary 22.6 pct in April.

Many of the chain's about 960 restaurants are open now but seeing the number of visitors decrease amid stay-at-home requests by authorities in the coronavirus epidemic, a company official said.

[Copyright The Jiji Press, Ltd.]

Jiji Press