Business

Mcdonald's Japan predicts $157 million loss after meat scandal

Posted October 07, 2014 1:00 am

Bloomberg News

Oak Brook-based McDonald's Corp.'s Japan business predicted a 17 billion yen ($157 million) net loss this year after its chicken supplier said it mislabeled expired meat.

Sales will probably drop 15 percent from a year earlier to 221 billion yen, McDonald's Holdings Co. Japan Ltd. said today in a statement. The company, in July, withdrew its forecast for 250 billion yen in annual revenue.

Japan's biggest restaurant chain took chicken products that used meat from China off its menu in July after Illinois-based OSI Group LLC, which provides the chain with meat, acknowledged that its Shanghai Husi Food Co. unit had changed sell-by dates on chicken and beef.

To contact the reporter on this story: Chris Cooper in Tokyo at ccooper1bloomberg.net To contact the editors responsible for this story: Anand Krishnamoorthy at anandkbloomberg.net Dave McCombs, Suresh Seshadri

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