Paris Miki Holdings, the Japanese-based optical retailer, reported Q4 revenues of 10,691 million Japanese yen (€80.3m-$98.2m), representing a slight 0.5 percent increase from Q4 2020. However, the partial recovery in the second half of the fiscal year could not offset the double-digit revenue drops in Q1 and Q2, leading the company to post a 9.2 percent decrease in revenues for the full year, down to ¥43,873 million (€329.5m-$403m). The company managed to keep its gross profit margin stable at 67.8 percent but posted a small annual operating loss of ¥180 million (€1.3m-$1.6m). For the full year, sales in Japan, which account for 90 percent of total revenues, went down by 7.1 percent while international sales dropped by 24.2 percent. The company kept decreasing its network of mostly DOS stores in Japan, down from 701 doors last year to 662 at the end of March 2021. The international retail footprint remained roughly stable at 109 locations including 39 in China, 41 in Korea and 3 in Europe. The company expects a 7.2 percent increase in revenues in the current financial year, partly through the development of new retail activities in other sectors. As for its eyewear offering, it expects to improve its profit margin by increasing the share of high-end private label brands made in Japan.