Japanese-style pubs report losses however gross sales at fast-food chains soar

The Japanese restaurant sector has reported mixed results on its recent earnings as the number of people hard-eating at izakaya pub operators declined due to the coronavirus pandemic, while takeaway demand boosted fast food chains.

Pub operator Watami Co. reported a loss of 11.59 billion yen ($ 105 million) on Friday for fiscal year ended March when the government asked restaurants to reduce opening hours for alcohol and anti-virus measures to close early in the course of the year.

“If the current situation continues, we expect red ink to reach 5 to 6 billion yen in fiscal 2021,” Watami chairman Miki Watanabe said in an online briefing, adding that the company had a capital injection of 12 billion yen from the state applies for Development Bank of Japan.

Colowide Co., which has restaurant and pub units, including Japanese set menu chain operator Ootoya Holdings Co., posted a record loss of 9.73 billion yen in fiscal 2020. It has decided to close 48 of its restaurants as part of its business review.

Among the fast food chain operators who benefited from the boom in the delivery and take-away groceries, KFC Holdings Japan Ltd.’s net profit increased. in fiscal 2020 by 82.9% to a record value of 2.81 billion yen.

McDonald’s Holdings Company (Japan) achieved record sales of ¥ 155.78 billion from January to March, an increase of 9.8% over the previous year.

At a time of both misinformation and too much information Quality journalism is more important than ever.
By signing up, you can help us find the right story.

SUBSCRIBE NOW

PHOTO GALLERY (CLICK TO ENLARGE)

Faux Japanese-style artworks present in circulation after probe

A number of counterfeit Japanese-style art prints by master painters circulated after an art dealer in western Japan was found to have sold 10 counterfeits, people familiar with the matter said Monday.

The Japanese Association of Contemporary Print Merchants said the 1950s-based and Osaka-based trader sold 10 counterfeit works based on the artists of Nihonga or Japanese traditional arts – Ikuo Hirayama, Kaii Higashiyama and Tamako Kataoka.

The photo shows a painting by the late master painter of Nihonga or traditional Japanese art Ikuo Hirayama in Nara Prefecture on December 2, 2009. (Kyodo)

The dealer has admitted to having sold the counterfeit works to the association and was fired from the group in December. In the same month, according to investigative sources, police confiscated fake paintings related to the allegations.

The association began the investigation after a staff member discovered that an unusually high number of Hirayama works were in circulation last spring.

The forgeries were complex enough to deceive many except specialists. Since the signatures and coloring were a bit unnatural, the works were revealed to be forgeries when compared to original works kept in art museums.

Also on Monday, the Japanese department store operator Sogo & Seibu Co. announced that a total of 71 art prints sold between 2009 and 2020 with a turnover of around 55 million yen (520,000 US dollars) are suspected to be counterfeits.

Since receiving the report on Dec. 1, the retailer has identified 59 of 71 pieces and plans to fully refund those who purchased prints that have been rated by a third party and found to be counterfeit.

The police are investigating the case as a copyright infringement.