TOKYO -- Watami apparently turned its first group pretax profit for the April-December period since 2013 thanks to a turnaround in the company's Japanese restaurants and the disposal of noncore operations.
The operator of Japanese-style izakaya pubs and casual eateries likely logged nearly 300 million yen ($2.68 million) in black ink for the nine months. More than 80 locations in the Watami and Watamin-chi eatery chains, which have struggled with the loss of customers in recent years, have been rebranded as pubs specializing in high-quality grilled and fried chicken dishes combined with affordable drinks. The combination has been a hit with younger age groups in particular, bringing more diners through the door.