Profits plunge at Japan's convenience stores
NHK -- Jul 11
Japan's three major convenience-store operators are reporting a sharp drop in profits, as the coronavirus keeps customers at home.

The Lawson group saw operating profit fall 81.6 percent for March to May from the same period a year earlier to around 24 million dollars.

FamilyMart's profit fell 54 percent to 84 million dollars. Seven-Eleven Japan was down 13.3 percent to about 487 million dollars.

The companies say a drop in business due to emergency measures during the period forced them to close stores and shorten operating hours. The decline in sales was especially sharp at outlets in office districts and resort areas.

News source: NHK
Aug 10
Despite uncertainties from COVID-19, top Japanese corporations plan to invest 15.8% more in information technology in fiscal 2020 to keep up the wave of digitization across industries. (Nikkei)
Aug 07
Official figures indicate that Japanese households may be recovering from the economic impact of COVID-19. Spending was down in June, but by a much smaller margin than the month before. (NHK)
Aug 07
Japan's powerful business lobby, the Keidanren, is dominated by energy-intensive sectors that represent less than 10 percent of the economy, resulting in national policies that favour coal and hindering attempts to combat climate change, a new study said. (aljazeera.com)
Aug 07
Toyota’s profit plunged 74% in the last quarter as the coronavirus pandemic sank vehicle sales to about half of what the top Japanese automaker sold the previous year. (krmg.com)
Aug 06
The average summer bonus at major Japanese companies this year dropped 2.17 percent from a year earlier to ¥901,147, a Japan Business Federation survey showed Wednesday. (Japan Times)
Aug 06
Uber Technologies has begun to offer a food delivery subscription in Japan that replaces per-order fees, tapping into the growing demand from consumers holed up at home from the coronavirus. (Nikkei)
Aug 05
Japan’s decision to offer an initial group of 87 companies subsidies totalling US$653 million to expand production at home and in Southeast Asia has sparked debate whether the world’s third largest economy is trying to gradually decouple from China. (scmp.com)
Aug 05
About 60 percent of people in the nation who developed cold-like symptoms during the first wave of the novel coronavirus pandemic, between February and May, went to work despite a request by the government for them not to do so, a recent survey has found. (Japan Times)
Aug 05
McDonald's Holdings (Japan) has staged a dramatic comeback in the five years since a crisis triggered by food-safety scandals, breaking sales records and thriving on takeout demand in the middle of a pandemic. (Nikkei)
Aug 04
Nippon Steel decided on Tuesday to immediately appeal a South Korean court ruling that took effect the same day that allows for the seizure of company assets as compensation for wartime labor during Japanese colonial rule. (Nikkei)