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Food & Beverage

McDonald's rivals take bite out of its Japan growth

Big Macs lose early pandemic advantage in takeout and delivery

McDonald's Japan set an average annual profit growth target of between 3% and 5% in its three-year plan. (Photo by Kenta Ando)

TOKYO -- For a while, McDonald's stood out as a winner in Japan's pandemic-hit restaurant industry. But as rivals cut into its gains in takeout and delivery orders, profit is now pacing its slowest growth since 2016.

McDonald's Holdings Co. (Japan) said Wednesday it expects group operating income to inch up 1.4% to 35 billion yen ($303 million) in the year ending December 2022 on a 4.8% rise in revenue to 333 billion yen.

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