Japan's Don Quijote chain cheers record profit, tourists' return

Foreign shoppers help discount retailer hit all-time high for 14th year in row

Pan Pacific International Holdings is eager to increase unit price per customer spending and entice shoppers back into its stores more frequently. (Photo by Makoto Okada)

CHIHIRO ISHIKAWA, Nikkei staff writer

August 16, 2023 19:13 JST

TOKYO -- Pan Pacific International Holdings, the company that operates the Don Quijote discount chain, reported on Wednesday a net profit of 66.1 billion yen ($455 million) for the fiscal year ending June, hitting a record profit for the 14 consecutive year thanks to foreign tourist spending.

Revenue reached 1.9 trillion yen, and operating profit was at 105 billion yen, crossing the 100 billion yen mark for the first time.