TOKYO -- Yamada Denki likely enjoyed a 77% jump in pretax profit to about 63 billion yen ($591 million) in fiscal 2015 on successful structural reforms and greater appliance sales, but still failed to reach its 67.5 billion-yen forecast.
Sales apparently also fell below projections of remaining flat at 1.66 trillion yen for the year ended in March. The electronics retailer attracted more customers by renovating existing stores, as well as offering tax-free shopping to foreign visitors at urban locations. But it also closed about 60 rural and suburban stores, and demand for heating equipment suffered due to the warm winter.
