Marui also known as OIOI, or is it the other way around? Either way Marui Group reported a 22% increase in operating profit of 18 billion yen for the fiscal year 2011.
Besides the nice jump in operating profit Marui also reported a very small increase of 1% in revenue to over 410 billion yen.
Sales were driven mostly by spring apparel and Cool-biz wear (which is anything but cool) for the upcoming summer months which are expected to be even hotter as all of Japan’s nuclear power plants are shut down.
Sales at Marui also saw a jump due to Marui’s private label shoes, accessory bags and other merchandise.
Beyond increasing revenue Marui also cut-costs and in the process discovered by laying off workers they can get the remaining worker to take on additional duties, usually without much complaining for fears they will be laid off next.
Information Marui Group aka OIOI & Nikkei