TOKYO -- Japan's Iris Group, the parent of home goods maker Iris Ohyama, posted its first-ever sales decline last year as the normally adaptable company misjudged a fast-changing environment with pitfalls from a plunging yen to sluggish appliance demand abroad.
Group sales reached 810 billion yen ($6.04 billion at current rates) in 2021 as the company's new television business boomed. Iris hoped to top 1 trillion yen for the first time in 2022.
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