Japanese pachinko operator Okura Holdings has issued a profit warning for the six months to 31 December 2018, revealing that the group expects to record a “significant increase in profit before income tax” compared with the same period in 2017.
In a filing, Okura said the improvement was primarily due to an increase in profit in three of its pachinko halls which were undergoing a renovation in 2017 as well as the closure of loss-making BA Kamata Hall in April 2018.
“Based on the aforesaid expected increase in profit before income tax, the net profit for 2H18 is also expected to increase significantly,” the company said.
Okura last year reported revenue for the six months to 31 December 2017 of JPY4.5 billion (US$42 million) and an operating profit of JPY252 million (US$2.4 million), having reported a loss of JPY146 million in the six months to 31 December 2016.
The company currently operates 18 pachinko halls across Japan.