Den Fujita, founder of the McDonald’s chain in Japan, is stepping down as chairman and chief executive officer after the company suffered its first loss in almost three decades, McDonald’s Holdings Co. (Japan) said Wednesday.

Fujita, who turns 77 next week, cited his age and health as reasons for his resignation after more than 30 years at the helm, Yasuyuki Yagi, president of McDonald’s Co. Japan, told a news conference.

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