Local News

The nine major retail and food service companies headquartered in Kyushu released their interim reports, which show that six of them have suffered revenue declines. This is attributed to the slump in individual consumption and the impact of the Tohoku disaster. To offset the decline, companies have been cutting operating expenses. As a result, five posted increases in current profit and one swung from a loss to a profit. Despite this, however, all nine of the companies posted either declines in net profit or net losses.