Seven-Eleven Japan Co., the nation's largest convenience store chain, said Thursday its sales rose 3.3 percent to 2.11 trillion yen in the business year through February.
The company attributed the brisk business to the opening of new stores.
On an unconsolidated basis, operating profits rose 4.3 percent from the previous year to 151.83 billion yen, pretax profits increased 4.5 percent to 153.79 billion yen and net profits came to 83.21 billion yen, up 6.2 percent.
The retailer increased the number of stores to 9,060 during the 12 months,from 8,602 a year earlier, and plans to add 630 stores during the current business year.
On a consolidated basis, Seven-Eleven Japan's pretax profits came to 148.51 billion yen, up 0.1 percent from a year earlier. Its operating profits rose 4.2 percent to 149.95 billion yen, and its net profits increased 1.9 percent to 81.72 billion yen.
For the current business year, on a parent-only basis, the firm predicts overall store sales of 2.22 trillion yen, operating profits of 157 billion yen, pretax profits of 158.5 billion yen and net profits of 86 billion yen.
The firm forecasts consolidated pretax profits of 153.3 billion yen, consolidated operating profits of 155.3 billion yen and consolidated net profits of 81.8 billion yen.
New president
Seven-Eleven Japan Co. said Thursday an informal decision has been made to promote Toshiro Yamaguchi, senior managing director, to the post of president.
President Ken Kudo, 61, will step down to become vice chairman, said the subsidiary of supermarket chain Ito-Yokado Co.
An official decision on the personnel change will be made at a board meeting that will take place after a general shareholders' meeting on May 24, company officials said.
Yamaguchi, 55, a native of Kagoshima Prefecture and graduate of Chuo University, joined the company in 1977. He became senior managing director in May 2000.