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Business trends

Japan's cafes and bars struggle as sales plunge 40%

Chains cancel earnings guidance as sales sink amid coronavirus restrictions

A Starbucks coffee shop is closed in Tokyo's Ginza district.

TOKYO -- Restaurant chains in Japan are taking earnings guidance off the menu after shutdowns and limited hours caused by the coronavirus pandemic have made near-future projections hard to predict, with sales in March down almost 40% at some companies.

One week after Tokyo's municipal government called for a full or partial shutdown of businesses in the industry, the murky financial outlook is also dealing a serious blow to workers as companies are forced to find creative ways to make payroll.

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