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Japan-Update

Japan's Askul lifts bottom line to the black

Office supply company turns in nine-month profit after selling charred warehouse

TOKYO -- Askul reported Friday a net profit of 4.6 billion yen ($43.3 million) for the nine months ended in February after selling two warehouses, including a Tokyo-area facility that caught fire last year.

The profit represents a turnaround from the Japanese office goods supplier's 2.9 billion yen net loss in the year-ago period, when the blaze at the Saitama Prefecture logistics facility in February 2017 forced Askul to book a provision for reconstruction costs.

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