TOKYO -- Japan's Ryohin Keikaku, owner of lifestyle brand retailer Muji, saw operating profit nearly triple on the year to a record 13.8 billion yen ($95.3 million) for the three months ended November, buoyed by price hikes and the end of China's zero-COVID policy.
Operating revenue, equivalent to sales, grew 19% to 162.9 billion yen, while net profit jumped 2.5-fold to 9.8 billion yen. Aggressive store openings domestically and abroad played a role, with 28 new locations in Japan alone for the quarter -- about 40% of the planned full-year total for the country.
