Daiei Inc. said Friday its operating profit for its March-August half was 25.45 billion yen, up 41.9 percent from the previous year, on sales of 672.1 billion yen, due to strong sales in its credit card subsidiary OMC Card Inc.
However, the firm's group net profit was down 96.8 percent from the prior year to 13.4 billion yen. Daiei attributed the drop to a 400 billion yen debt waiver it received in the previous period.
Daiei forecasts its group net profit will be 50 billion yen for the business year to February, on sales of 1.29 trillion yen.