Otsuka Kagu Reports Net Loss of 2 B. Yen in Jan.-June

August 14, 2018

Tokyo- Struggling Japanese furniture retailer Otsuka Kagu Ltd. said Tuesday it logged an unconsolidated net loss of 2,037 million yen in the January-June first half.

The figure was reduced from the year-before loss of 4,567 million yen, after the company booked a profit from the sale of land.

Otsuka saw its sales drop 11.9 pct from a year earlier to 18,825 million yen.

The number of customers mainly at large outlets decreased by at least 10 percent, leading to a decline in sales.

The company also reported an operating loss of 3,506 million yen, some 800 million yen bigger than a year before. Jiji Press