Restaurant group Yoshinoya Holdings Co. said Friday that it suffered its largest March-August net loss since its listing on the Tokyo Stock Exchange’s first section in 2000.
For the first half of its current business year, Yoshinoya Holdings, best known for its gyūdon (beef bowl) chain, booked a consolidated net loss of ¥5.7 billion, against the year-before profit of ¥1.8 billion.
The company also reported an operating loss of ¥5.9 billion, against the year-before profit of ¥2.9 billion, on sales of ¥81.9 billion, down 23.4 percent from a year ago.
The company logged special losses totaling ¥2.1 billion, including from the closure of loss-making restaurants, while facing a fall in visitors to its restaurants amid the coronavirus epidemic.
Its namesake gyūdon chain managed to end in the black in Japan by cutting fixed costs, despite lower sales due to restaurant shutdowns and shortened opening hours amid the epidemic.
However, the Hanamaru udon chain and the Kyotaru sushi chain, which have many outlets in urban areas and within commercial facilities, struggled.
“We’ll press ahead promptly” with efforts to improve profitability, company President Yasutaka Kawamura told a news conference.