Uny lowers its net profit estimate

Retail chain Uny Co. on Tuesday lowered its group net profit estimate to ¥5.4 billion from ¥9.9 billion for the business year that ended in February due to an asset impairment loss.

The revised estimate is still head and shoulders above the ¥377 million group net profit it logged the previous year.

Uny also lowered its consolidated sales estimate for the year from ¥1.195 trillion to ¥1.19 trillion, down 2.2 percent from the previous year.

Uny's projected operating profit was reduced to ¥39.6 billion from ¥40.4 billion due to sluggish clothing sales. Its operating profit was ¥40.95 billion the previous year.