4 Japan Restaurant Operators Post Net Losses in April-June

Economy

Tokyo, Aug. 14 (Jiji Press)--Four major Japanese restaurant chain operators including Skylark Holdings Co. <3197> have posted net losses for April-June, reflecting sales plunges amid the coronavirus crisis.

Skylark posted a net loss of 19.1 billion yen, Colowide Co. <7616> 4.1 billion yen, Royal Holdings Co. <8179> 9.7 billion yen and Ootoya Holdings Co. <2705> 1.5 billion yen.

Skylark reported its first loss for the quarter since its 2014 relisting.

The spread of COVID-19 forced their restaurants to temporary shut and cut business hours, leading to sharp drops in the number of customers.

Amid growing uncertainty due to a resurgence of infections, all four companies refrained from releasing full-year earnings projections.

[Copyright The Jiji Press, Ltd.]

Jiji Press