Imperial Hotel Ltd. said Friday its group sales and profits suffered marginal falls in fiscal 2004 because some guest rooms and restaurants were closed for repair work during the business year.
In a consolidated earnings report for the year to March, the hotel said its net profit dropped 1.3 percent from the previous year to 1.86 billion yen, while its pretax profit fell 6.9 percent to 3.19 billion yen. Sales stood at 53.30 billion yen, down 0.2 percent.
The hotel, listed on the second section of the Tokyo Stock Exchange, said the group's per-share profit came to 60.94 yen, against 61.79 yen the preceding year.
It will pay a per-share dividend of 20 yen for the year, up from 15 yen the year before.
The sluggish earnings data mainly reflect a cost increase resulting from aggressive capital spending aimed at improving the hotel's facilities, including its wedding chapel.
The company underlined robust sales in the wedding business. Princess Nori, Emperor Akihito's daughter, will use the Imperial Hotel for her wedding in November.