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Article: Ministop sees net group profit fall on asset impairment loss.
- Article from:
- Kyodo News International (Tokyo, Japan)
- Article date:
- April 5, 2006
CopyrightCOPYRIGHT 2006 Kyodo News International. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Apr. 5--TOKYO -- Convenience store chain Ministop Co. said Wednesday its group net profit in its fiscal year to February dropped 11.3 percent from the previous year to 2.39 billion yen while sales expanded 10.7 percent to 112.72 billion yen.
The company blamed the profit fall on a special loss of 2.66 billion yen that resulted from its earlier-than-required introduction of the asset impairment accounting rules. Consolidated group pretax profit increased 5.0 percent to 7.93 billion yen.
Ministop, a member of the Aeon Corp. group, said convenience store sales in Japan grew 2.6 percent in the year as the number of its directly-run convenience stores ...
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