Culture Convenience Club Co., operator of the Tsutaya video rental chain, said Monday its fiscal 2003 net profit soared 90 percent to a record 2.39 billion yen, powered by aggressive franchise expansion.
Revenue rose 17 percent to 142.34 billion yen, also a record.
During the period, the number of Tsutaya stores grew by 27 to 1,151, while membership increased 3 percent to 18.4 million.
The firm said it saw strong growth in both rental and sales of DVDs. The company said it will further boost the proportion of DVD titles against videocassettes.
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