McDonald’s Japan Closing Stores After Forecasting Wider Loss
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McDonald’s Corp.’s Japan business forecast wider losses this year, announcing store closures and job cuts after sales suffered from food scandals.
McDonald’s Holdings Co. (Japan) would probably lose 38 billion yen ($318 million) this year, compared with a 21.8 billion yen loss in 2014, the company said Thursday in a Tokyo Stock Exchange statement. Sales were expected to drop 10 percent to 200 billion yen, it said.