Japan’s leading retailer Seven & I Holdings has booked a drop in first-quarter operating profit.

For the three months ended 31 May, operating profit slid 10.6% to JPY52.4bn (US$592.9m).

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Net income increased 2.5% to reach JPY24.30bn, while net sales edged up 0.3% to JPY1.25bn.

For the full year to February, Seven & I kept its forecast for an operating profit of JPY240bn, up 5.9% from a year earlier.

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