According to local media reports, Joyful, the family restaurant chain in Kyushu, experienced a 36% decrease in net profit to 1.6 billion yen for June 2023, largely due to reduced COVID-19 related subsidies. However, a resurgence in customer traffic led to a 27% sales increase, and a positive operating profit of 1.7 billion yen was achieved after four quarters of loss. The company plans to renovate or rebuild 400-450 stores over the next three years with an investment of over 3 billion yen, while new domestic store openings are not in the immediate plan. The forecast for the next fiscal year indicates a 6% sales increase and a 91% net profit increase. Source: Nikkei
Photo from DoctorDoughnut
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