Sanyo Shokai Half-year financial results until August Final profit / loss 6.6 billion yen Deficit October 6 16:28
Sanyo Shokai, a major apparel company, posted a net loss of 6.6 billion yen for the six months to August due to a series of department store closures due to the effects of the new coronavirus.
The one-year financial results are also expected to be in the red for the fifth consecutive term, and the situation is severe.
Sanyo Shokai announced on the 6th that the six months from March to August had sales of 15.3 billion yen and a final loss of 6.6 billion yen.
Since we have changed the accounting period, we have not disclosed the results for the same period last year, but the final profit and loss for the six months from January to June last year shown for comparison is a deficit of 600 million yen. The deficit width is widening.
This was mainly due to the large drop in sales due to the effects of the new coronavirus, which caused department stores that operate stores to close one after another, and sluggish consumption.
The company has a policy of closing 160 stores whose profitability is deteriorating and selling real estate to rebuild it, but according to the one-year earnings forecast up to February next year, the final profit and loss Is in a difficult situation with a deficit of 3.5 billion yen and a final deficit for the fifth consecutive term.
In the apparel industry, TSI Holdings also posted a final deficit of 14.4 billion yen in the interim results, and the impact of the spread of infection has been a big blow.