It has been found that Japanese companies that are entering the domestic fashion industry are still suffering from the boycott that has continued since last year.
According to data released by the Financial Supervisory Service today (17th), Japanese companies that have been listed on the `` NO JAPAN '' list, such as UNIQLO, Desant, and unmanned items, have turned to deficits or operating profits have plummeted by up to 78%.
Sportswear brand Desant's operating profit last year was KRW 9 billion, a 78% decrease from the previous year (KRW 67.9 billion), and sales decreased 15% from the previous year. UNIQLO's domestic subsidiary FRL Korea, which had been controversial over 'comfort women', also recorded sales of less than KRW 1 trillion for the first time since 2014.
In the fashion industry, Japan's successive decline in sales was the result of the prolonged aftermath of the boycott. An official said, "Every time the conflict between Korea and Japan intensified, there was a boycott, but it was only Yongdusami. But this time, it was different. Japanese companies suffered greatly as the boycott was prolonged."
FRL Korea also donated masks, hygiene products and clothing to overcome Corona 19. Until the beginning of last year, this is a markedly different step from the fact that the donation was cut in half and criticized for being "satisfied in social contribution while making high sales in Korea."
An industry insider analyzed, "If the operating profit was reduced, if we reduced the donation, we could buy the eyes of consumers again, so we would have adjusted the donation as a social contribution."
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[Pick] Japanese companies are struggling to prolong the 'boycott'… What is the 'no donation'?
2020-04-17T05:16:09.455Z
It has been found that Japanese companies that are entering the domestic fashion industry are still suffering from the boycott that has continued since last year. According to data released by the Financial Supervisory Service today, Japanese companies that have made their name on the 'No Japan' list, such as Uniqlo, Desant, and unmanned items, have turned to deficits or their operating profits have plummeted by up to 78%.
Source: sbskr