McDonald’s Japan share sell-off on hold

Sales of McDonald’s Japan shares have been put on hold with it returning to profit after three years for the first time since a food scandal in China.

“We have decided not to proceed with the transaction at this time,” says McDonald’s Corporation CFO Kevin Ozan. “We believe the market is poised to maintain its strong momentum.”

McDonald’s Holdings Japan expects its operating profit in the current fiscal year to grow to ¥9
billion (US$80.9 million), a 29.9 per cent rise on the previous year. This follows innovations such as a burger-naming competition, offering french fries topped with chocolate and a tie-up with smartphone game Pokemon Go.

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