Don Quijote’s Parent Firm Enjoys Record Annual Profit

Economy

Tokyo, Aug. 12 (Jiji Press)--Pan Pacific International Holdings Corp. <7532>, which owns the Don Quijote discount store chain, said Wednesday that it enjoyed a record net profit in the year through June, thanks to its general merchandise store division’s strong performance amid the coronavirus epidemic.

For the business year, the retail group reported a consolidated net profit of 50,303 million yen, up 6.9 pct from the previous year, and an operating profit of 75,997 million yen, up 20.4 pct, on sales of 1,681,947 million yen, up 26.6 pct.

The Uny Co. general merchandise store unit saw strong demand for housing-related goods including home appliances, on top of food products.

Meanwhile, the discount store business struggled due to a lack of consumption by visitors from outside Japan after the coronavirus began to spread earlier this year. It failed to offset the headwind by focusing on sales of sanitary goods including face masks and disinfectants.

[Copyright The Jiji Press, Ltd.]

Jiji Press