Kabuki-Za Co. said it is likely to post a consolidated annual net profit through next February for the first time in five years thanks to the reopening of its eponymous theater in central Tokyo.
The rosy forecast stems from rent the kabuki production firm Shochiku Co. will be charged for using the theater, which reopened this month after a three-year renovation project, Kabuki-Za officials said Thursday. Rent-related revenue accounts for around 70 percent of the company’s total annual sales.
In addition, “the number of customers has been far more than expected since the reopening,” Kabuki-Za Director Yoshimi Ikeda said.
The company is also expected to tap more revenue from food-related sales, which make up roughly 20 percent of its total revenue each year, during a yearlong series of performances to commemorate the Kabukiza’s grand opening.
Kabuki-Za posted a net loss of ¥206 million for the year that ended in February.