Japan Foods Q1 net profit up 24%

SINGAPORE-based Japanese restaurant chain Japan Foods Holding Ltd reported a 24.1 per cent jump in net profit for the three months ended June 30 to S$1.3 million on the back of a 6.4 per cent growth in revenue to S$16.8 million.

This fiscal first-quarter performance was buoyed by higher revenue generated from an increased number of stores as well as better gross profit margins.

Group executive chairman and CEO Takahashi Kenichi noted that competition in the industry is still intensifying with new players coming on stream.

"It is imperative that we continue to innovate and launch new concepts and brands, and also to regularly update our existing restaurants so that we can continue to attract new customers and retain loyal ones," he said.