Nitori Enjoys 25.4 Pct Net Profit Jump in March-May

Economy

Tokyo, June 26 (Jiji Press)--Japanese furniture and interior goods retailer Nitori Holdings Co. <9843> has reported a 25.4 pct increase from a year earlier in its consolidated net profit for March-May, supported by brisk demand for home office furniture.

Net profit rose to a record 25,519 million yen, according to Nitori’s earnings report released Thursday.

Consolidated sales rose 3.9 pct to 173,780 million yen, while operating profit grew 22.3 pct to 37,216 million yen.

In particular, sales of office furniture for teleworking, such as computer desks and desk chairs, were strong amid the new coronavirus outbreak. Storage boxes also sold well, according to the company.

“The coronavirus crisis reaffirmed that everything you need for working at home can be purchased at Nitori stores,” Chairman Akio Nitori said at a financial results briefing.

[Copyright The Jiji Press, Ltd.]

Jiji Press