Local News

The Hakata Daimaru department store of Fukuoka City revealed it had posted 2.863 billion yen in current profit on a non-consolidated basis for the year ended February 2011, an 8.3% year-on-year increase and the store’s first profit in five years. In contrast, sales fell 1.9% to 66.66 billion yen, their fifth consecutive decline. Net profit plunged 78.1% on the year to 336 million yen, due in part to the losses generated by the closing of the company’s Nagasaki store last July.