Rizap Loss Expands in April-June

Economy

Tokyo, Aug. 13 (Jiji Press)--Japanese fitness gym operator Rizap Group Inc. <2928> said Wednesday its group net loss expanded to 2,789 million yen in April-June as the coronavirus outbreak forced the company to shut some 70 pct of its stores.

The company marked the third straight net loss for its fiscal first quarter after posting a loss of 140 million yen a year before.

Revenue plunged 25.8 pct to 37,847 million yen. Revenue from health and beauty care operations, including fitness gyms, dived 42.0 pct to 7.7 billion yen.

The company booked a special loss of 1.5 billion yen related to labor and other costs during the shutdown.

Rizap stopped short of releasing its earnings forecasts for the full year to March 2021 due to uncertainties over when the coronavirus will be contained.

[Copyright The Jiji Press, Ltd.]

Jiji Press