Yoshinoya Suffers Biggest First-Half Net Loss since 2000

Economy

Tokyo, Oct. 9 (Jiji Press)--Japanese restaurant group Yoshinoya Holdings Co. <9861> said Friday that it suffered the largest March-August net loss since its listing on the Tokyo Stock Exchange's first section in 2000.

For the first half of its current business year, Yoshinoya Holdings booked a consolidated net loss of 5,708 million yen, against the year-before profit of 1,879 million yen.

The company also reported an operating loss of 5,970 million yen, against the year-before profit of 2,936 million yen, on sales of 81,988 million yen, down 23.4 pct from a year earlier.

The company logged special losses totaling 2.1 billion yen, including from the closure of loss-making restaurants, while facing a fall in visitors to the group's restaurants amid the coronavirus epidemic.

Its namesake "gyudon" beef-on-rice bowl restaurant chain managed to end in the black in Japan by cutting fixed costs, despite lower sales due to restaurant shutdowns and shortened opening hours amid the epidemic.

[Copyright The Jiji Press, Ltd.]

Jiji Press