TOKYO -- Japanese restaurant chain Saizeriya, known for its Italian food at rock-bottom prices, reported its first record-high annual net profit in 14 years thanks in large part to China, where its strategy of keeping prices low has drawn increasingly frugal customers.
Net profit swelled 58% to 8.1 billion yen ($54.2 million) for the year ended Aug. 31. Operating profit nearly doubled to 14.8 billion yen, with Asia outside Japan accounting for roughly 80% of the total.
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