CCC Group consolidated first quarter results for the year ending March 31, 2008
August 13, 2007
Ordinary income 2.5 billion yen (Prior Year Comp 75.7%)
Income declines over prior year, but tracks according to plan at year’s start
TSUTAYA strong with openings, existing store sales up over prior year
August 13, 2007 (Tokyo, Japan) Culture Convenience Club Co., Ltd. (“CCC”), reported its consolidated operating results for the first quarter of the year ending Mar. 31, 2008. Although income declined in comparison to the prior year, both net sales and income tracked in accordance to the plan made at the beginning of the year. For the period, Sumiya joining as a consolidated subsidiary during the latter part of the prior fiscal year and currently undergoing restructuring, and IMJ incurring operating losses led to net sales of 55 billion yen (up 125% over the prior year), ordinary income of 2.5 billion yen (down 24.3%) and net income of 1.4 billion yen (down 47%).
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