Japanese convenience operator FamilyMart has said that it expects it net profit will fall by 22% this fiscal year as suffers the effects of the 11 March earthquake in Japan.

The company announced on Friday (8 April) that it is now forecasting JPY10-12bn for the current financial year.

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The announcement came as the retailer recorded a 19% net profit increase for the year ended 28 January to reach JPY18.02bn (US$212.69m).

Revenue was up 15% to JPY319.89bn, which it largely attributed to the acquisition of rival am/pm Japan.

Seven & I also announced on Friday that net income will fall by 22% this year due to the earthquake. It said that it is now forecasting JPY114.8bn net income against an initial forecast of JPY128.5bn.

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