Home Capital Results

Japan Foods reports higher revenue but lower net profit for FY2022

Goola Warden
Goola Warden5/25/2022 07:58 AM GMT+08  • 2 min read
Japan Foods reports higher revenue but lower net profit for FY2022
Ajisen Ramen a Japan Foods brand
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Japan Foods Holding reported a 7.1% year-on-year increase in revenue to $54.6 million for the year ended March 31, 2022, the company's FY2022. The revenue increase during the period under review was driven mainly by a seasonally stronger second half and the performance of Japan Foods’ new Halal segment, which grew from one restaurant under one brand in November 2020 to nine restaurants under three brands as at end-March 2022, contributing 20.5% to total revenue.

Goss profit in FY2022 rose 6.9% y-o-y to $46.2 million, while gross profit margin remained at 84.6%. In FY2022, the Group’s associated companies also had a good showing, contributing share of profit of $83,000 compared to $33,000 in FY2021.

Restaurants in Hong Kong operating under the “Hototogisu” had generated higher earnings, partially offset by share of loss of restaurants operating under the “Menya Musashi” brand in China, Hong Kong and Indonesia. In line with its expanded Singapore network and the increase in business as Covid-19 restrictions were relaxed, selling and distribution and administrative expenses rose 1.4% and 19.2% respectively in FY2022 mainly due to higher manpower and operating costs as the Group ramps up its operations, while other income fell 34.0% y-o-y mainly due to lower government grants under the Job Support Scheme and lower rental concessions from landlords. As a result, net profit declined 10.8% y-o-y to $3.2 million in FY2022.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now