TOKYO -- Matsumotokiyoshi Holdings' operating profit for the April-September half is likely to come in higher than expected thanks to the shuttering of underperforming stores and purchases by foreign tourists.
Operating profit grew an estimated 20% to around 16 billion yen ($140 million) for the six-month period, an all-time high for an interim half. A previous forecast called for a profit of 13.5 billion yen, on a par with a year earlier.
