McDonalds In Japan Closing Outlets

Above, will this Shibuya McDonald's fall under the ax?  Photo by Armand Vaquer.

It looks like people in Japan will have fewer McDonald's outlets to go to in order to get their Big Mac fix.

McDonald's Japan is reportedly going to close outlets as their annual profits fell below expectations.

According to Bloomberg.com:

McDonald’s Corp. (MCD)’s Japan business plans to close 74 outlets in the country as the fast-food operator cut its full-year profit forecast by more than half in its second-largest market. 

Net income will probably be 5 billion yen ($48 million) in the year ending December, 57 percent lower than its previous forecast, McDonald’s Holdings Co. Japan Ltd. said in a statement to Tokyo’s stock exchange yesterday. That compares with an average estimate of 9.53 billion yen from three analysts compiled by Bloomberg. The company had 3,170 outlets in Japan as of the end of October. 

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