Nitori Holdings, a major furniture and daily necessities company, announced on the 31st that its financial results for the year ending February will capture the so-called "nested demand" for products used at home, and both sales and final profit will be the same as the previous year. Sales and profits increased more than ever.
Nitori Holdings' financial results for the entire group for the fiscal year ended February 28, respectively, showed higher sales and profits, with sales increasing 11% from the previous year to 716.9 billion yen and final income increasing 29% to 92.1 billion yen.
With the spread of the new coronavirus infection, self-restraint from going out and teleworking at home are spreading, and sales of kitchen utensils, storage supplies, office furniture used at home, etc. are strong, and “needing demand” has boosted business performance.
Nitori has made a takeover bid for TOB = shares, and in January, made Shimachu, which operates home improvement stores mainly in the Tokyo metropolitan area, a subsidiary to expand the group.