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Four major Japanese restaurant chains report improved earnings

McDonald's Holdings Co. (Japan) reported a 16.6 percent increase to a record 17.2 billion yen in consolidated operating profit for the first half of the year from a year before. (AFP)
McDonald's Holdings Co. (Japan) reported a 16.6 percent increase to a record 17.2 billion yen in consolidated operating profit for the first half of the year from a year before. (AFP)
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15 Aug 2021 01:08:25 GMT9
15 Aug 2021 01:08:25 GMT9

TOKYO: Four major Japanese restaurant chain operators reported improved earnings, but the recovery from the COVID-19 pandemic is fragile as the industry still relies on government relief.

McDonald’s Holdings Co. (Japan) reported a 16.6 percent increase to a record 17.2 billion yen in consolidated operating profit for the first half of the year from a year before.

The growth was backed by strong delivery and drive-through demand amid the pandemic. “This trend is expected to continue even after the pandemic ends,” said Atsuo Shimodaira, chief operating officer at McDonald’s.

Toridoll Holdings Corp. swung to a net profit of 2.9 billion yen in the April-June quarter from a loss of 2.6 billion yen a year before thanks to brisk demand for “udon” noodle boxed meals for takeout.

Zensho Holdings Co. posted a net profit of 1.2 billion yen for the three months, compared with a loss of 6.3 billion yen a year before, as its “gyudon” beef-on-rice restaurants performed well both in eat-in and takeout operations.

Pub operator Colowide Co. bounced back to a net profit of 700 million yen for the quarter from a loss of 4.1 billion yen a year before.

But its sales were two-thirds the level of the same period of 2019 before the pandemic. The company had its losses offset by COVID-19 government aid provided to businesses complying with requests for shorter operating hours.

Skylark Holdings Co. posted a net loss of 500 million yen for the first six months of 2021, though narrower than the year-before loss of 18.9 billion yen.

The company has been struggling with slower customer traffic amid a COVID-19-related ban on serving alcohol. Its fortunes “depend on progress in vaccinations,” Chairman, President and CEO Makoto Tani said.

JIJI Press 

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