Japan’s Okura Holdings falls to US$2.9 million loss through back half of 2021

Japanese pachinko hall operator Okura Holdings fell to a JPY 333 million (US$2.9 million) loss in the six months to 31 December 2021, down from a JPY 23 million (US$199,000) profit in the same period last year, despite the reopening of its halls.

While Okura reported a “partial recovery of customer traffic at some of its pachinko halls”, group-wide revenue remained stable year-on-year at JPY 2.74 billion (US$23.7 million) of which JPY 2.47 billion (US$21.4 million) was from its pachinko and pachislot business.

The JPY 333 million loss attributable to shareholders was, the company said, due to the recognition of impairment losses on the group’s property, plant and equipment, and losses on the fair values of the group’s financial assets due to market price fluctuations. These losses were partially offset by gains on the release of lease liabilities after Okura shut down and terminated the leases of three of its halls – Big Apple Dazaifu hall in Fukuoka, Big Apple Sumiyoshi hall in Nagasaki and Monaco Sumiyoshi Honten hall in Nagasaki – in August 2021 due to poor performance.

Source: https://www.asgam.com/index.php/2022/02/27/japans-okura-holdings-falls-to-us2-9-million-loss-through-back-half-of-2021/