Okura Holdings reports US$2.8m loss for H2

Okura Holdings has reported a loss attributable to shareholders of JPY333m (US$2.8m) for the second half of 2021.

Japan.- Okura Holdings has announced financial results for the six months ending December 31 with a loss attributable to shareholders of JPY333m (US$2.8m), mainly due to impairment losses. That compared with a profit of JPY23m the previous year. Revenue declined slightly from JPY2.74bn to JPY2.73bn.

The company, which generates 90.5 per cent of its sales from pachinko and pachinko machines, attributed the decline to the permanent closure of three pachinko parlours in September 2021, mainly due to the Covid-19 pandemic and the slow economic recovery.

Last May, the company had already closed two venues due to the crisis in the sector. Okura Holdings now has 12 Pachinko Venues, most of them located in Nagasaki Prefecture.

Interest in pachinko games has been declining due to the development of online games. The trend for young people to play mobile games instead of going to a pachinko parlour has been accentuated during increased confinement due to the Covid-19 pandemic.