Okura Holdings revenue down 23.1% for FY21

Okura Holdings has reported that revenue declined 23.1 per cent during fiscal year 2021, to JPY5.4bn.

Japan.- Okura Holdings has announced financial results for the Fiscal Year 2021, reporting that revenue was down 23.1 per cent to JPY5.4bn (UD$48.5m). The company posted a loss of JPY577m (US$5.18m), down from JPY6.3bn (US$56.59m) in the previous fiscal year.

Amid the Covid-19 pandemic, the company closed two pachinko parlours in May and three venues in September due to the crisis in the sector. At the time, Okura Holdings said the closure was to allow a focus on better-performing outlets. 

The company now has 12 Pachinko Venues, most of them located in Nagasaki Prefecture. Okura Holdings said it has faced a slow recovery at some of its venues, especially in the Kyushu region.

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.