Sushiro operator's net profit doubles in 1st half of FY2024

The operator of a major sushi restaurant chain in Japan says its net profit in the first half of the business year through March roughly doubled from a year earlier. The company says customers returned to its restaurants after the coronavirus pandemic eased.

Food & Life Companies operates the Sushiro chain of conveyer-belt sushi outlets.

It says net profit jumped to 7.2 billion yen, or around 46 million dollars. Group sales rose 22.8 percent to 175.9 billion yen, or about 1.1 billion dollars.

Business picked up after the Japanese government downgraded COVID-19 to a status on par with seasonal flu.

The company launched a campaign to expand Sushiro's menu of low-priced dishes even as the economy experienced inflation, attracting more customers.

Overseas sales rose as well. Outlets opened in Taiwan, Hong Kong and Thailand.

Food & Life Companies' President and CEO Mizutome Koichi says the yen's current weakness may lead to higher costs. But he added that the company would adjust its menus to respond to such a situation.