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Yoshinoya Suffers Biggest First-Half Net Loss since 2000

Yoshinoya Suffers Biggest First-Half Net Loss since 2000

   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.

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AFP-JIJI PRESS NEWS JOURNAL


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