Okura Holdings Flags Positive Profit for July-December 2018 Period

Pachinko operator Okura Holdings says it expects to record a significant increase in net profit in the July-December 2018 period.

In a filing to the Hong Kong Stock Exchange, Okura said it expected enhanced profits of not less than 90 million yen (about US$815,000) in the second half of 2018, mainly attributable to a decrease in hall operating expenses.

The company said that it has made a continued effort in streamlining its operations such as the closure of the troubled Big Apple Kamata hall in Tokyo in April 2018, which had contributed an operating loss in the prior year period.

Okura Holdings currently has 17 pachinko halls, of which 12 are in the Kyushu region, 3 in the Kanto region, and one each in the Kansai region and the Chugoku region. While this does not make it among the largest pachinko hall operators, its listing on the Hong Kong Stock Exchange gives it special prominence. (AGB)