TOKYO (TR) – The company that operates discount store chain Don Quijote saw its sales exceed 2 trillion yen for the first time over the 12-month period ending in June this year, thanks to increased demand from foreign tourists and strong sales of private brand products.
On the August 16, Pan Pacific International Holdings, which operates Don Quijote and other stores, announced its group-wide financial results for the year ending in June this year.
According to the results, sales increased 8.2 percent from the previous year to 2.095 trillion yen, marking the first time sales crossed 2 trillion yen for that period. In addition, net profit increased 34.1 percent to 88.7 billion yen, both of whichare record highs.
The company attributes this to the fact that it has expanded its character merchandise lineup to meet demand from an increase in the number of foreign tourists. It has also seen strong sales of private brand products such as food and daily necessities.
At the press conference, President Yoshida Naoki said, “As for foreign tourists, even if the yen strengthens, we will continue to see a certain number [at our stores], and we have many elements that allow us to compete with other companies. We want to continue evolving so that visiting our store becomes a great experience for customers.”
