TOKYO — Japan’s Pan Pacific International Holdings, operator of discount retail chain Don Quijote, faces plunging profits per store in Asia as it toils to replicate its domestic success at rapidly growing operations abroad.
Despite the company recording 48.2 billion yen ($318 million) in net profit for the July-December half, up 31% year-on-year and the highest ever for the period, Pan Pacific President Naoki Yoshida struck an apologetic tone on Asia during an earnings conference in February.
