McDonald's Japan Operating Profit Shrinks in 2022

Tokyo, Feb. 8 (Jiji Press)--McDonald's Holdings Company (Japan) Ltd. <2702> said Wednesday that its consolidated operating profit fell 2.1 pct in 2022 from a year before to 33,807 million yen due to higher costs.

The company raised prices due to soaring materials costs and a weak yen, but this was not enough to make up for the increased costs.

Sales at all restaurants increased 10.1 pct to 717.5 billion yen, topping 700 billion yen for the first time, thanks to the strength of delivery services and the price hikes.

"We will decide (whether to raise prices further) based on foreign exchange and materials price trends," President and CEO Tamotsu Hiiro told an online press conference.

The company said it expects increased sales and profits in 2023.

[Copyright The Jiji Press, Ltd.]