Electricals retailer Best Denki revealed a widening net loss of ¥1.98bn (£13.4m) in the three months to May 31, compared with a net loss of ¥168m (£1.1m) in the same period last year. Net sales fell 5.8 per cent to ¥79.4bn (£535.8m).

Founded in 1953, the retailer sells discount electricals and operates around 600 stores in Japan and Asia, including Hong Kong, Indonesia, Malaysia, Singapore and Taiwan.