The Japanese unit of US hamburger chain McDonald's said Friday its net loss more than tripled last year due to special write-offs, including a severance payout to its founder.
McDonald's Holdings Co (Japan) Ltd said its group net loss surged to 1 billion (US$67.3 million) last year from 3 billion the previous year.
Its recurring profit fell 7.5 percent to 9 billion on sales of 99.8 billion, down 6.5 percent.
For this year, the company forecast a net profit of 9 billion and current profit of 5 billion on revenue of 05.1 billion.
"In an effort to reinvigorate the core hamburger business of McDonald's Company [Japan] Ltd ... we realigned the organization and resources," the company said in a statement.
Eiko Harada, newly appointed chief executive officer of the Japan unit, pledged to revive the company's brand image despite the highly competitive fast-food market.
Harada was credited with engineering the revival of Apple Japan, and at a news conference he voiced confidence he could do the same with McDonald's.
"McDonald's Japan is the pioneer of the fast-food restaurant business in Japan and, in this respect, it has created a certain lifestyle in Japan," he said.
Harada played down his lack of experience in the restaurant business, saying: "The core of any business is to create a sustainable organization. I do not think there is any difference to this core concept even between PC makers and a hamburger chain."
The losses for last year included 2 billion in a payment to terminate its existing service contract.
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