Local News

The Phoenix Seagaia resort in Miyazaki Prefecture revealed that it recorded an operating loss of 500 million yen on the non-consolidated account for the year ended March 2009. It is the business’s first loss in three years. The loss was attributed to the sharp rise of gasoline prices peaking during last summer vacation, and the economic downturn. The resort also had 80,000 fewer lodgers than during the previous year, and sales fell 14.9% year-on-year to 12.0 billion yen.