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Latest Tokyo Brief coverage on KOBE BUSSAN CO., LTD., tracking filings, financial news, and market signals from Japan.
TSE:3038
Kobe Bussan's July sales rose 7.6% and store openings kept pace, but a reversal in yen forward valuation gains dropped ordinary profit to about a fifth of last year's level, a swing the company calls temporary and non-operational.
Kobe Bussan paid about ¥1.68bn for a 13.28% stake in Makiya to cement a franchise alliance, but it signed a standstill barring further accumulation above the closing-level ratio, plus a lock-up and right of first refusal favoring Makiya.
Sales rose 5.1% to ¥286,172 million and operating profit increased 10.2% to ¥21,037 million in the six months to April, while net profit attributable to owners rose 15.7% to ¥16,501 million. Management nevertheless left full-year earnings guidance and its ¥32.00 dividend forecast unchanged.