COVID-19 Response Through Employment Retention, Rent Negotiations and Employment Adjustment Subsidies

「We recorded ¥211 million in COVID-19-related subsidies, including employment adjustment subsidies, as non-operating income and extraordinary income, and ¥264 million in store closure-related expenses as extraordinary losses. As a result, net loss was ¥67 million, compared with net income of ¥31 million in the previous fiscal year.」

「In terms of expenses, because we guaranteed employees' full salaries even during the closure period, we made comprehensive efforts to reduce expenses, including negotiating rent reductions through our business operations. In addition, we recorded ¥264 million in fixed portions of the cost of sales, property expenses and personnel expenses related to store closures as extraordinary losses, resulting in an operating loss of ¥44 million, compared with operating profit of ¥315 million in the same period of the previous year. Meanwhile, because we recorded ¥198 million in employment adjustment subsidies and other items as non-operating income and extraordinary income, the quarterly net loss was ¥120 million, compared with quarterly net income of ¥192 million in the same period of the previous year.」