Okura Holdings revenue up 13% in H1

Okura Holdings has reported revenue of JPY6,284m (US$42m) for the period.

Japan.- Okura Holdings has shared its financial results for the first half of the year 2023. Revenue was up 13 per cent year-on-year to JPY6,2m (US$42m). The company reported an operating profit of JPY3,220m (US$21.5m), compared with an operating loss of JPY1,321m (US$8.86m) in the first half of 2022.

Currently, Okura manages 11 pachinko halls across Japan, operating under the trading names “Big Apple” and “K’s Plaza.” Despite the global fall in consumer spending on entertainment, Okura Holdings has observed a resurgence in traffic at most of its pachinko halls coinciding with the relaxation of Covid-19 restrictions in Japan.

The company also attributed its upswing to the introduction of three new pachinko machines. Ir reported net gains of approximately JPY2,766m (US$18.5m) and a decrease in hall operating expenses of approximately JPY469m (US$3.1m).

Okura Holdings closed a pachinko hall in Ofuna, Kamakura-shi, Kanagawa Prefecture, in May. The decision was based on management’s assessment that it would be more beneficial to allocate resources to more promising pachinko halls.

Okura stated in its report: “The business outlook of the pachinko industry remains uncertain given the prolonged decline in the pachinko business coupled with the rising operation costs due to global price increase and the decline in purchasing power of consumers which impeded the pace of business recovery.”