Japanese confectioner Fujiya Co. said today (6 August) that the sale of a building in Tokyo is expected to boost its profits for the six months to the end of September.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The company, which earlier this year was embroiled in a scandal involving out-of-date ingredients, said it would sell the asset in the Ginza shopping area of the Japanese capital for JPY9.3bn (US$78.9m).
Fujiya has forecast that the sale will give it a net profit of around JPY1.5bn for the six months to the end of September.
In May, Fujiya published its full-year figures to the end of March. The company booked an operating loss of JPY6.7bn. Sales plummeted by almost 25% as Fujiya was forced to close some of its own retail outlets and lost contracts with a number of other retailers in the wake of the ingredients scandal.
In March, Yamazaki Baking bought a 35% stake in Fujiya, which then won back sales contracts with retailers affiliated to the company.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
