No category-specific facts could be extracted from this document.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The reasons cited were domestic and overseas store openings falling short of plan, higher domestic SG&A and personnel expenses, store-opening expenses concentrated in the fourth quarter, increased initial losses in the Shanghai business, and impairment losses of ¥391 million relating to 4 stores in China and Shanghai, among other assets.