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Tam Jai International’s Adjusted Profit for the Year Rises by 17.8% to HK$165.5 Million

HONG KONG, May 16, 2022 - (ACN Newswire via SEAPRWire.com) - Tam Jai International Co. Limited ("TJI" or the "Company", and together with its subsidiaries, the "Group"; HKEX stock code: 2217), a leading and renowned mixian-specialised fast casual restaurant chain, announced its first annual results after its listing in Hong Kong. Revenue of the Group saw a notable year-on-year increase of 26.8% to HK$2,275.3 million for the year ended 31 March 2022 ("FY2022"), despite the 5th wave of COVID-19 outbreak in Hong Kong in the last quarter of FY2022. Excluding one-off listing expenses and government subsidies in relation to COVID-19, its adjusted profit for the year rose by 17.8% to HK$165.5 million in FY2022.HighlightsProminent Performance in FY2022-- Revenue increased by 26.8% to HK$2,275.3 million year-on-year, mainly attributable to the increased number of restaurants in operation and growth in comparable restaurants revenue-- Operating profit of restaurant operations increased by 38.2% to HK$476.7 million-- Operating profit margin up by 1.7 percentage points to 20.9%-- Excluding the one-off listing expenses and government subsidies in relation to COVID-19, adjusted profit for the year increased by 17.8% to HK$165.5 millionExpanding Restaurant Network-- The unique and authentic TamJai tastes were successfully brought to different regions. The responses the Group has received from Shenzhen, Guangzhou and Tokyo were instantaneous and overwhelming-- As at 31 March 2022, there were 175 restaurants in operation across Hong Kong, Mainland China, Singapore and Japan, a net increase of 28 restaurants as compared to 31 March 2021-- Eight restaurants were opened in the Mainland China and the first restaurant in Japan was met with a rapturous reception-- TJI aims to further expand its restaurant network in Hong Kong, the Greater Bay Area, Singapore and Japan, with two more restaurants planned to open in Kichijoji and Ebisu in Tokyo, Japan in the first quarter of FY2023Revenue of TJI's Hong Kong restaurants saw a speedy and strong recovery to the pre-COVID-19 level during the first three quarters of FY2022 as the pandemic eased. This was due to the support of a community of loyal customers as it consistently delivers quality food with a variety of options and exceptional service. While the entire catering industry in Hong Kong was reeling from the impact of COVID-19 outbreak in the fourth quarter of FY2022, the Group managed to stay afloat thanks to its wide brand recognition, great success of the introduction of premium toppings, snacks and new products, and the continued support from its loyal customers.The rise in revenue in FY2022 was mainly attributable to the increase in the number of restaurants in operation, and the steady growth in comparable restaurants revenue in Hong Kong. Meanwhile, operating profit increased by 38.2% to HK$476.7 million, with operating profit margin improving by 1.7 percentage points to 20.9%. This was due to the decrease in staff costs as a percentage of revenue attributable to the improvement of manpower efficiency, and the decrease in depreciation of right-of-use assets, rental and related expenses as a percentage of revenue, attributable to the improvement in its restaurant performance. The Group also continued to achieve a healthy financial position and had cash and cash equivalents of HK$1,365.2 million as at 31 March 2022.The Board recommends paying a final dividend of HK11.4 cents per share for FY2022, or approximately HK$152.4 million in total.Business ReviewSteady comparable restaurants revenue growth despite 5th wave of COVID-19 outbreakAs part of its strategies in menu design, TJI has launched more than two dozen new products in FY2022 including toppings, soup base, snacks and beverages. The introduction of premium toppings and snacks, combined with successful marketing campaigns as well as a menu price adjustment in February 2022, resulted in an across-the-board increase in the average spending per customer, and the average daily number of bowls served per seat.During the first three quarters of FY2022, the comparable revenue of TJI's Hong Kong restaurants had recovered to the pre-COVID-19 level. To mitigate the impact of the 5th wave of COVID-19 outbreak in the last quarter of FY2022, the Group had quickly boosted its takeaway/food delivery capacity, by offering takeaway promotions and maintaining a strong partnership with third-party delivery platforms. It has also carefully managed its supply chain and workforce to minimise service interruptions amid the pandemic. The decrease in dine-in revenue in the last quarter of FY2022 was partially offset by the increase in proportion of takeaway/food delivery revenue.Striving for improvementsDespite global logistics interruptions, and the upward pressure on the cost of food and beverages consumed in face of the ongoing pandemic, the Group managed to mitigate general cost inflation through supply chain management, and product substitution or upgrade. The integration of the central kitchens of TamJai Yunnan Mixian ("TamJai") and TamJai SamGor Mixian ("SamGor") brands also contributed to the reduction in the costs in facilities, enhancement in efficiency, and optimisation of food production. New supply chain management systems were also set up to optimise cost control and to enhance production planning process.In addition, a Smart Rostering was implemented to help maintain the right level of frontline staff and productivity, and thereby optimise labour costs, as business volume fluctuates in tandem with the pandemic situation. It also made swift decisions regarding restaurant operating hours, renovation projects and restaurant opening schedule by re-assessing the market needs.Expansion of restaurant networkAs of 31 March 2022, TJI operates a total of 175 restaurants, with geographical presence expanding to Japan on 31 March 2022, in addition to the existing markets of Hong Kong, Mainland China and Singapore. The responses it has received from its first restaurant in Japan were overwhelming: hundreds of customers queued for hours outside its Shinjuku restaurant in Tokyo, eager to be among the first to enjoy a steaming noodle bowl packed with Hong Kong flavours and culture. There is clearly an international appetite for authentic Hong Kong food experience. And this has encouraged TJI to continue looking for new global avenues to bring the perfect taste abroad.In Hong Kong, the Group operates 81 TamJai restaurants, and 81 SamGor restaurants. Its expanding restaurant network is complementary to the delivery service coverage throughout the city, as it is aware of the importance of takeaway and delivery in the industry amid the ongoing pandemic.In Mainland China, the Group has opened eight restaurants in total under TamJai brand for FY2022, including six in Shenzhen, and two in Guangzhou. In the financial year ending 31 March 2023 ("FY2023"), it plans to open more restaurants in the Greater Bay Area as strategies are being put in place to drive both dine-in and takeaway turnovers.In Singapore, one new restaurant was opened in March 2022, and some locations of new restaurants have been confirmed in the pipeline for FY2023.TJI also opened its first restaurant in Shinjuku, Japan on 31 March 2022, and plans to open two more restaurants located in Kichijoji and Ebisu in Tokyo in the first quarter of FY2023.ProspectsWhile the past year has been a bumpy ride, TJI has demonstrated resilience and agility in face of unanticipated situations. As the pandemic enters its third year, the Group is optimistic that social restrictions will be lifted gradually, and its growth momentum should resume in Hong Kong, Mainland China, and the overseas markets.In tune with the fast-changing customer behaviour in tandem with the pandemic's development, the Group is investing in further enhancing its restaurant-level efficiency in serving dine-in, takeaway and delivery orders. It is also implementing new supply chain management systems in Hong Kong and other markets to optimise cost control and enhance production planning process, which would help cushion itself against logistics hiccoughs and changes in COVID-related policies on movements and mobility.For the Mainland China market, the initial revenue and customers responses of the new restaurants in Shenzhen and Guangzhou had been favourable, and the business is expected to pick up as soon as the social activities resume.Riding on the strong rebound in the Singapore market since November 2021, the Group will resume new restaurant opening activities, and adapt its business model to capitalise on the revived consumer sentiment and increase profitability. Besides, it has been encouraged by the rapturous reception of its first restaurant in Tokyo. As market activities have started picking up again in Japan, TJI will keep expanding its network healthily to capture the market momentum with the robust support of its controlling shareholder, Toridoll Holdings Corporation.Mr. Daren Lau, Chairman, Executive Director and Chief Executive Officer of TJI, said, "We are very pleased to have navigated through the challenges posed by the pandemic in FY2022 with great agility and resilience as we continued to grow our revenue and operating profit margin. The encouraging results have proved our competitive advantages in food and service quality, restaurant operations and supply chain management. On the back of our successful listing in Hong Kong in October 2021, we will further expand our market presence, and bring our one-of-a-kind chain restaurant dining experience and distinctive 'TamJai Tastes' all over the world."About Tam Jai International Co. Limited (HKEX: 2217)TJI has been listed on The Stock Exchange of Hong Kong Limited (stock code: 02217.HK) since October 2021. It is one of the largest and most popular fast casual resturant chains and the No.1 Asian noodle specialty restaurant operator in Hong Kong.* It primarily operates the TamJai Yunnan Mixian and TamJai SamGor Mixian brands, with operations in Hong Kong, Mainland China, Singapore and Japan. As at 31 March 2022, the Group operated a total of 175 restaurants. With the first TamJai Yunnan Mixian restaurant and the first TamJai SamGor Mixian restaurant opened in 1996 and 2008 in Hong Kong respectively, it has pioneered and popularised the new mixian trend in Hong Kong.*In terms of both revenue and number of restaurants in 2020, according to Euromonitor Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

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TJI Achieves a Successful Leap to International Market

HONG KONG, May 16, 2022 - (ACN Newswire via SEAPRWire.com) - Tam Jai International Co. Limited ("TJI" or the "Company", and together with its subsidiaries, the "Group"; HKEX stock code: 2217), a leading and renowned mixian-specialised fast casual restaurant chain, announced its first annual results after its listing in Hong Kong. Revenue of the Group saw a notable year-on-year increase of 26.8% to HK$2,275.3 million for the year ended 31 March 2022 ("FY2022"), despite the 5th wave of COVID-19 outbreak in Hong Kong in the last quarter of FY2022. Excluding one-off listing expenses and government subsidies in relation to COVID-19, its adjusted profit for the year rose by 17.8% to HK$165.5 million in FY2022. HighlightsProminent Performance in FY2022-- Revenue increased by 26.8% to HK$2,275.3 million year-on-year, mainly attributable to the increased number of restaurants in operation and growth in comparable restaurants revenue-- Operating profit of restaurant operations increased by 38.2% to HK$476.7 million-- Operating profit margin up by 1.7 percentage points to 20.9% -- Excluding the one-off listing expenses and government subsidies in relation to COVID-19, adjusted profit for the year increased by 17.8% to HK$165.5 millionExpanding Restaurant Network -- The unique and authentic TamJai tastes were successfully brought to different regions. The responses the Group has received from Shenzhen, Guangzhou and Tokyo were instantaneous and overwhelming-- As at 31 March 2022, there were 175 restaurants in operation across Hong Kong, Mainland China, Singapore and Japan, a net increase of 28 restaurants as compared to 31 March 2021-- Eight restaurants were opened in the Mainland China and the first restaurant in Japan was met with a rapturous reception-- TJI aims to further expand its restaurant network in Hong Kong, the Greater Bay Area, Singapore and Japan, with two more restaurants planned to open in Kichijoji and Ebisu in Tokyo, Japan in the first quarter of FY2023Revenue of TJI's Hong Kong restaurants saw a speedy and strong recovery to the pre-COVID-19 level during the first three quarters of FY2022 as the pandemic eased. This was due to the support of a community of loyal customers as it consistently delivers quality food with a variety of options and exceptional service. While the entire catering industry in Hong Kong was reeling from the impact of COVID-19 outbreak in the fourth quarter of FY2022, the Group managed to stay afloat thanks to its wide brand recognition, great success of the introduction of premium toppings, snacks and new products, and the continued support from its loyal customers.The rise in revenue in FY2022 was mainly attributable to the increase in the number of restaurants in operation, and the steady growth in comparable restaurants revenue in Hong Kong. Meanwhile, operating profit increased by 38.2% to HK$476.7 million, with operating profit margin improving by 1.7 percentage points to 20.9%. This was due to the decrease in staff costs as a percentage of revenue attributable to the improvement of manpower efficiency, and the decrease in depreciation of right-of-use assets, rental and related expenses as a percentage of revenue, attributable to the improvement in its restaurant performance. The Group also continued to achieve a healthy financial position and had cash and cash equivalents of HK$1,365.2 million as at 31 March 2022. The Board recommends paying a final dividend of HK11.4 cents per share for FY2022, or approximately HK$152.4 million in total.Business ReviewSteady comparable restaurants revenue growth despite 5th wave of COVID-19 outbreak As part of its strategies in menu design, TJI has launched more than two dozen new products in FY2022 including toppings, soup base, snacks and beverages. The introduction of premium toppings and snacks, combined with successful marketing campaigns as well as a menu price adjustment in February 2022, resulted in an across-the-board increase in the average spending per customer, and the average daily number of bowls served per seat.During the first three quarters of FY2022, the comparable revenue of TJI's Hong Kong restaurants had recovered to the pre-COVID-19 level. To mitigate the impact of the 5th wave of COVID-19 outbreak in the last quarter of FY2022, the Group had quickly boosted its takeaway/food delivery capacity, by offering takeaway promotions and maintaining a strong partnership with third-party delivery platforms. It has also carefully managed its supply chain and workforce to minimise service interruptions amid the pandemic. The decrease in dine-in revenue in the last quarter of FY2022 was partially offset by the increase in proportion of takeaway/food delivery revenue.Striving for improvements Despite global logistics interruptions, and the upward pressure on the cost of food and beverages consumed in face of the ongoing pandemic, the Group managed to mitigate general cost inflation through supply chain management, and product substitution or upgrade. The integration of the central kitchens of TamJai Yunnan Mixian ("TamJai") and TamJai SamGor Mixian ("SamGor") brands also contributed to the reduction in the costs in facilities, enhancement in efficiency, and optimisation of food production. New supply chain management systems were also set up to optimise cost control and to enhance production planning process.In addition, a Smart Rostering was implemented to help maintain the right level of frontline staff and productivity, and thereby optimise labour costs, as business volume fluctuates in tandem with the pandemic situation. It also made swift decisions regarding restaurant operating hours, renovation projects and restaurant opening schedule by re-assessing the market needs.Expansion of restaurant networkAs of 31 March 2022, TJI operates a total of 175 restaurants, with geographical presence expanding to Japan on 31 March 2022, in addition to the existing markets of Hong Kong, Mainland China and Singapore. The responses it has received from its first restaurant in Japan were overwhelming: hundreds of customers queued for hours outside its Shinjuku restaurant in Tokyo, eager to be among the first to enjoy a steaming noodle bowl packed with Hong Kong flavours and culture. There is clearly an international appetite for authentic Hong Kong food experience. And this has encouraged TJI to continue looking for new global avenues to bring the perfect taste abroad.In Hong Kong, the Group operates 81 TamJai restaurants, and 81 SamGor restaurants. Its expanding restaurant network is complementary to the delivery service coverage throughout the city, as it is aware of the importance of takeaway and delivery in the industry amid the ongoing pandemic. In Mainland China, the Group has opened eight restaurants in total under TamJai brand for FY2022, including six in Shenzhen, and two in Guangzhou. In the financial year ending 31 March 2023 ("FY2023"), it plans to open more restaurants in the Greater Bay Area as strategies are being put in place to drive both dine-in and takeaway turnovers. In Singapore, one new restaurant was opened in March 2022, and some locations of new restaurants have been confirmed in the pipeline for FY2023. TJI also opened its first restaurant in Shinjuku, Japan on 31 March 2022, and plans to open two more restaurants located in Kichijoji and Ebisu in Tokyo in the first quarter of FY2023.ProspectsWhile the past year has been a bumpy ride, TJI has demonstrated resilience and agility in face of unanticipated situations. As the pandemic enters its third year, the Group is optimistic that social restrictions will be lifted gradually, and its growth momentum should resume in Hong Kong, Mainland China, and the overseas markets.In tune with the fast-changing customer behaviour in tandem with the pandemic's development, the Group is investing in further enhancing its restaurant-level efficiency in serving dine-in, takeaway and delivery orders. It is also implementing new supply chain management systems in Hong Kong and other markets to optimise cost control and enhance production planning process, which would help cushion itself against logistics hiccoughs and changes in COVID-related policies on movements and mobility.For the Mainland China market, the initial revenue and customers responses of the new restaurants in Shenzhen and Guangzhou had been favourable, and the business is expected to pick up as soon as the social activities resume.Riding on the strong rebound in the Singapore market since November 2021, the Group will resume new restaurant opening activities, and adapt its business model to capitalise on the revived consumer sentiment and increase profitability. Besides, it has been encouraged by the rapturous reception of its first restaurant in Tokyo. As market activities have started picking up again in Japan, TJI will keep expanding its network healthily to capture the market momentum with the robust support of its controlling shareholder, Toridoll Holdings Corporation.Mr. Daren Lau, Chairman, Executive Director and Chief Executive Officer of TJI, said, "We are very pleased to have navigated through the challenges posed by the pandemic in FY2022 with great agility and resilience as we continued to grow our revenue and operating profit margin. The encouraging results have proved our competitive advantages in food and service quality, restaurant operations and supply chain management. On the back of our successful listing in Hong Kong in October 2021, we will further expand our market presence, and bring our one-of-a-kind chain restaurant dining experience and distinctive 'TamJai Tastes' all over the world."About Tam Jai International Co. Limited (HKEX: 2217)TJI has been listed on The Stock Exchange of Hong Kong Limited (stock code: 02217.HK) since October 2021. It is one of the largest and most popular fast casual resturant chains and the No.1 Asian noodle specialty restaurant operator in Hong Kong.* It primarily operates the TamJai Yunnan Mixian and TamJai SamGor Mixian brands, with operations in Hong Kong, Mainland China, Singapore and Japan. As at 31 March 2022, the Group operated a total of 175 restaurants. With the first TamJai Yunnan Mixian restaurant and the first TamJai SamGor Mixian restaurant opened in 1996 and 2008 in Hong Kong respectively, it has pioneered and popularised the new mixian trend in Hong Kong. *In terms of both revenue and number of restaurants in 2020, according to Euromonitor Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

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GR YARIS Rally1 Geared Up for Gravel Debut

TOKYO, May 13, 2022 - (JCN Newswire via SEAPRWire.com) - The TOYOTA GAZOO Racing World Rally Team is preparing to enter a key phase of the 2022 FIA World Rally Championship season at the Rally de Portugal on May 19-22: The first gravel event for the GR YARIS Rally1.2022 GR YARIS Rally1The team has enjoyed a strong start to the new hybrid Rally1 era of the WRC, with Kalle Rovanpera impressively winning two of the first three rounds on snow and asphalt to lead the drivers' championship by 29 points while TGR heads the manufacturers' standings by 42 points. Portugal, though, represents the first of five consecutive rounds on gravel and a new challenge for the latest generation of cars.Rovanpera faces a new challenge too, tasked with sweeping the road on Friday on gravel for the first time in his career as WRC leader. Team-mates Sebastien Ogier and Elfyn Evans will have more favourable road positions, sitting eighth and ninth respectively in the standings. Evans will target a podium return on an event he won in 2021 while Ogier -- making his second WRC appearance of the season -- has five victories in Portugal, a joint record. Takamoto Katsuta is sixth in the championship after a consistent start to 2022 in his TGR WRT Next Generation entry, and finished fourth overall in Portugal last year.The rally is based around the city of Porto with the service park located in nearby Matosinhos, and the stages attract large numbers of passionate fans. The roads are fast but technical, with a surface that is usually soft and sandy at first but often becomes rocky and rutted for the second pass.As in 2021, Coimbra once again hosts the ceremonial start on Thursday evening, and this time it's combined with a new super special stage on the city streets to kick-start the competitive action. Crews will stay overnight before tackling a trio of tests around Arganil, where there will be a tyre fitting zone before the same stages are then repeated in the afternoon. An additional test at Mortagua follows, and the Lousada super special rounds out the day upon returning north.Saturday is the longest day of the rally, featuring 164.98 competitive kilometres. It starts with two tests in the Cabreira mountains before Amarante, the longest stage of 2022 so far at 37.24 km. Following mid-day service, all three are repeated before another street stage alongside the mouth of the Douro river. Five stages bring the rally to a close on Sunday, centered around two passes of the famous Fafe test - the latter serving as the Power Stage finale.Quotes:Jari-Matti Latvala (Team Principal)"So far, we have been very competitive with the GR YARIS Rally1 on asphalt and snow across the first three rallies of the season. Portugal will be the first of three difficult rallies on gravel in just over five weeks and it will be very interesting to see the level of the different teams and cars. With so much of the season driven on gravel, it's very important to be competitive on this surface, and providing our drivers with a reliable car will also have to be a big focus across these next events. In Portugal, when it's dry there's a lot of loose gravel on top of the surface and this makes it very difficult for the first car on the road. This difficult task will be a new experience for Kalle on Friday, but we know that he'll be able to keep his cool even if he's losing time. On the other hand, we will have good starting positions with Elfyn and Seb and they should both have a strong possibility to fight for the victory."Sebastien Ogier (Driver car 1)"I'm excited to be back competing in Portugal. I've really enjoyed having some time off and now I feel quite fresh coming back. I'm of course happy to see the team has continued winning in the last couple of rallies, and I'm here not only to enjoy it and get some good results for myself but also to help win another manufacturers' title. Portugal is a special place for me: I have a good connection with the country and the fans and have had some good success there over the years. It will be something different for me to not be starting near the front and hopefully that can be a bit of an advantage if it doesn't rain. The biggest challenge will be getting back in the rhythm straightaway after only one test day on gravel last week. But at the same time, these cars are new for everyone on gravel, so let's see what we can do."Elfyn Evans (Driver car 33)"As with a lot of rallies this year, it's difficult to know how we will fare against the competition in our first event on gravel with the Rally1 cars, but the feeling in testing last week was generally quite positive. Portugal is a rally I've enjoyed more and more as the years have gone on, and it was great to win there last year. We could definitely do with a strong result on this occasion too and that will be the aim like always. With a run of gravel events coming up, hopefully we can hit the ground running in Portugal and then carry some momentum forwards. If it's dry then our road position should be favourable, but that's not an automatic ticket to a good result and there's still a lot to focus on and to get right in order to make the most of it, especially as everyone tries to get comfortable in these cars."Kalle Rovanpera (Driver car 69)"The feeling with the new car on gravel has been quite good overall, especially in our pre-event test last week with some improvements made from before. Portugal is a rally that I usually like; the stages are nice and technical and there is a great atmosphere. For us, the road-cleaning will probably be the biggest challenge, especially as it's something quite new for us. Friday could be much more important than on other rallies and we will try to be at a good pace straightaway to remain in contention for the rest of the weekend. The key thing in these next rallies will be to just try to keep calm and focus on doing a good job, without taking too much pressure or making mistakes, and keep taking good points where we can."Follow TOYOTA GAZOO Racing WRT:Facebook: https://www.facebook.com/TOYOTAGAZOORacingWRCTwitter: https://www.twitter.com/TGR_WRC (@TGR_WRC)Instagram: https://www.instagram.com/tgr_wrc/ (@TGR_WRC)YouTube: https://www.youtube.com/channel/UCCtALHup92q5xIFb7n9UXVg Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)

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Showa Denko Announces 2022 First Quarter Financial Results

TOKYO, May 11, 2022 - (ACN Newswire via SEAPRWire.com) - Showa Denko K.K. (SDK; TSE:4004) today announced its 2022 first quarter financial results.- 2022 First Quarter Consolidated Financial Statements and summaryhttps://www.sdk.co.jp/assets/files/english/ir/library/fss2022-1q.pdfThe Company also issued the following supporting release:- 2022 First Quarter Financial Results: Presentation Materialhttps://www.sdk.co.jp/assets/files/english/ir/library/pdf_presentation/results2022-1q.pdfAbout Showa Denko K.K.Showa Denko K.K. (SDK; TSE:4004, ADR:SHWDY) is a major manufacturer of chemical products serving from heavy industry to computers and electronics. The Petrochemicals Sector provides cracker products such as ethylene and propylene, the Chemicals Sector provides industrial, high-performance and high-purity gases and chemicals for semicon and other industries, the Inorganics Sector provides ceramic products, such as alumina, abrasives, refractory/graphite electrodes and fine carbon products. The Aluminum Sector provides aluminum materials and high-value-added fabricated aluminum, the Electronics Sector provides HD media, compound semiconductors such as ultra high bright LEDs, and rare earth magnetic alloys, and the Advanced Battery Materials Department (ABM) provides lithium-ion battery components. For more information, please visit www.sdk.co.jp/english/.Media contact:Showa Denko K.K., Public Relations Group, Brand Communication Department, Tel: 81-3-5470-3235 Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

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Spa victory for TOYOTA GAZOO Racing

TOKYO, May 9, 2022 - (JCN Newswire via SEAPRWire.com) - TOYOTA GAZOO Racing earned its first win of the 2022 FIA World Endurance Championship (WEC) season after a dramatic, weather-affected 6 Hours of Spa-Francorchamps.World Champions Mike Conway, Kamui Kobayashi and Jose Maria Lopez, driving the #7 GR010 HYBRID, overcame a strong challenge from Hypercar competitors, as well as the notorious Ardennes weather, to win round two of the 2022 season, the final event before the Le Mans 24 Hours.The team celebrated its sixth consecutive victory at Spa-Francorchamps with the #7 bouncing back from an accident at Sebring to make it seven wins out of eight races since the GR010 HYBRID was introduced at Spa in 2021.Unfortunately, only one GR010 HYBRID reached the chequered flag at Spa. Sebastien Buemi, Brendon Hartley and Ryo Hirakawa were leading the race in their #8 car when an issue on the hybrid system forced its retirement after 90 minutes.The race had started full of promise for the #8, with Sebastien moving up from fourth on the grid to second on the first lap. Mike was close behind in third, having briefly lost a spot when he was boxed in at the exit of the first corner.On lap 16, the GR010 HYBRIDs hit the front, both overtaking the race-leading Glickenhaus on the same lap. Sebastien therefore led in the #8, but the race changed quickly when rain began to fall around the hour mark, followed by an LMP2 accident which caused a red flag.After a 25-minute delay, the race resumed behind the safety car but the leading #8 stopped on the side of the track. As Sebastien stepped out of the car to retire, the rain got heavier and Mike brought the #7 into the pits for wet tyres, dropping to third.Conditions worsened and caused further interruptions, including two more red flag periods, until the race restarted properly with just over two hours remaining, and Kamui running in second. He wasted little time in overtaking the #31 WRT for the lead as the rain stopped and track conditions started to improve.Inside the last hour-and-a-half, Jose took the wheel of the #7, now on hybrid intermediate tyres, for the final stint. He resumed in the lead of a close battle for victory among the three Hypercar competitors until three full course yellows late in the race disrupted the fight at the front.Jose controlled the final stages of the race as track conditions improved continuously and he crossed the line after six hours to win by 27.473secs from the #36 Alpine.The team now makes the short journey back to Cologne to prepare for the highlight of the WEC season, the Le Mans 24 Hours on 11-12 June when it will challenge for a fifth consecutive victory.Sebastien Buemi (Driver, car #8):"I am obviously disappointed for our car because I think we had a very good race developing. We started fourth and made it up to first, then managed to save fuel and go a lap longer on our first stint. This is always helpful at tracks like this when you can get lots of full course yellows. But then we had an issue on the car and obviously had to stop. I am really happy for car #7. They have done a great job, and this is the first win of the year for the team so that's fantastic. We need to understand better what happened on our car so that we can fight for the win at Le Mans next time out."Brendon Hartley (Driver, car #8):"Clearly it's disappointing not to score points today. It was looking really good. Seb had a great start in the first stint, then we had the issue. That's racing sometimes. It's obviously better that it happens here than at Le Mans but it's a pity and it hurts our championship chances. On the other hand, I'm very happy for the team to win for the first time this season. Car #7 drove a great race to bring home the victory for the team. Now it's full focus for the whole team on Le Mans."Ryo Hirakawa (Driver, car #8):"Today was not our day on the #8 car, unfortunately. Like Brendon, I didn't get to drive the car in the race. Seb had driven really well and put us in a strong position. But as a team it was a good performance and it's great to get the first victory of the season. Congratulations to Mike, Kamui, Jose and everyone on the #7 car. Now we are fully dedicated to preparation for Le Mans. I am really looking forward to being part of the team at Le Mans for the first time, and fighting for the win at the big race."Race:1st #7 TOYOTA GAZOO Racing 103 laps2nd #36 Alpine (Negrao/Lapierre/Vaxiviere) +27.473secs3rd #31 WRT (Gelael/Frijns/Rast) +1min 6.185secs4th #41 Realteam by WRT (Andrade/Habsburg/Nato) +1min 40.676secs5th #38 JOTA (Gonzalez/Da Costa/Stevens) +1min 48.571secs6th #5 Team Penske (Cameron/Collard/Nasr) +1min 57.610secsDNF #8 TOYOTA GAZOO Racing Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)

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TOYOTA GAZOO Racing Aims to Bounce Back in Belgium

TOKYO, Apr 28, 2022 - (JCN Newswire via SEAPRWire.com) - TOYOTA GAZOO Racing aims to get back to winning ways when it makes the short journey to Belgium next week for the second round of the 2022 FIA World Endurance Championship (WEC), the 6 Hours of Spa-Francorchamps.The World Champions endured a difficult start to the season at Sebring last month, with second place for the #8 car, driven by Sebastien Buemi, Brendon Hartley and Ryo Hirakawa, bringing an unbroken winning streak for the GR010 HYBRID Hypercar to an end.That was the only GR010 HYBRID to reach the chequered flag following a heavy accident for the #7 car of Mike Conway, Kamui Kobayashi and Jose Maria Lopez. The reigning drivers' World Champions will have a completely new car for the Spa race.TOYOTA GAZOO Racing therefore travels 120km from the team's Cologne headquarters to the legendary Spa-Francorchamps circuit determined to deliver an improved result in the final race before the highlight of the WEC season, the Le Mans 24 Hours.As well as being one of the home races for TOYOTA GAZOO Racing in WEC, Spa is also a happy hunting ground for the team. Since its first WEC race there in 2013, the team has won six times and is aiming for a sixth consecutive victory in Belgium this weekend.After an impressive debut race at Sebring, on his first visit to that circuit, Ryo returns to a track on which he has already tasted success. During his European Le Mans Series career, Ryo finished third at Spa in 2016 and second a year later.WEC will be the first major series to race at Spa since parts of the 7.004km circuit were modified to enhance safety. One of the most prominent changes comes at the fearsome Eau Rouge and Raidillon combination, which has been resurfaced and now features bigger run-off areas.The drivers will experience the updated circuit for the first time on Thursday, with a 90-minute practice session in the late afternoon. A busy Friday sees two further practice sessions prior to an evening qualifying, which decides the grid for Saturday's race, beginning at 1pm local time.Kamui Kobayashi (Team Principal and driver, car #7):"Since Sebring, which was a disappointing result for us, the whole team has pushed hard to improve by working together with the drivers, particularly at our test in Portimao earlier this month. It went well, despite the wet weather at the start, and we did a lot of laps in the endurance test, which is an important part of our Le Mans preparation. We worked on some things for Spa as well, which should suit our car better than Sebring, where the bumps had a big impact on car balance and performance. So we expect to be fighting at the front and everyone is fully committed to get our first win of the season. We have waited since Le Mans last year to meet our fans in Europe again so it will be a special week. The fans in Spa are always very enthusiastic and give us a lot of support; thank you in advance for cheering us on," Mike Conway (Driver, car #7):"Spa is a fantastic circuit and one of my favourites, so it's always exciting to go there. Compared to a year ago, when we were racing the GR010 HYBRID for the first time, we have learned a lot about our car so we are in a better position in terms of our understanding. But the balance of performance has changed since then, so we are not entirely sure where will be next week. We will work hard to get the maximum out of our package and hopefully that's enough to be at the front."Jose Maria Lopez (Driver, car #7):"Sebring was a really disappointing result and I am still frustrated by what happened, so I am determined to make it up to Mike, Kamui and the whole team with a strong race in Spa. This is always an important race because it is the last one before Le Mans so we have to get all our preparation right and put ourselves in the best place for the big race. I hope we will be more competitive than we were in Sebring and be in a position to fight for the win."Sebastien Buemi (Driver, car #8):"I always enjoy going to Spa as it is probably my favourite circuit. It's a pleasure to drive a race car at this track, and I have been fortunate enough to have won five times at Spa so it's a good track for me in that respect too. Our podium in Sebring wasn't a bad way to start the season but the gap to the front was too big. I hope the balance of performance will be kinder to us in Spa, which is more like a typical WEC circuit and I hope it will suit our GR010 HYBRID better."Brendon Hartley (Driver, car #8):"It's always exciting to race at Spa so I can't wait to be back there with our GR010 HYBRID. We made a solid start to the season on the #8 car with a podium in Sebring but we're looking to be closer to the front next week. It's been a few weeks since the start of the season and we've used that time productively to get ready for Spa, with a test at Portimao and plenty of work back at the factory. So we're ready; now we just need to see what the famous Spa weather has in store for us."Ryo Hirakawa (Driver, car #8):"I am looking forward to racing again at Spa, which is a fantastic circuit. Sebring went well for me and it was satisfying to start my WEC career with a podium. Sebring was a new track for me so there was a lot to learn. But I know Spa pretty well so that should be an advantage compared to the last race, and I had some positive results there in the past which gives me confidence. It will be exciting to drive the GR010 HYBRID there for the first time; I cannot wait to get started." Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)

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Epic final-stage win for Rovanpera and the GR YARIS Rally1

TOKYO, Apr 25, 2022 - (JCN Newswire via SEAPRWire.com) - Kalle Rovanpera has claimed a sensational victory for TOYOTA GAZOO Racing World Rally Team in a thrilling finish to the Croatia Rally, extending his FIA World Rally Championship lead in epic style.On a rally where he lacked knowledge of the stages after crashing out early on the event's WRC debut in 2021, Rovanpera was in superb form throughout the weekend together with co-driver Jonne Halttunen. On a heavily rain-affected Friday he made the most of his position at the head of the road order to win six of the eight stages and open up an advantage of more than a minute over his rivals. Much of this margin was lost on Saturday morning when he suffered a damaged tyre, but he fought back well with a stage win at the end of the day to take a lead of almost 20 seconds into the deciding leg.He continued that performance into Sunday's first stage to extend his lead by more than 10s. The weather brought a further twist in the tail, however, with a sudden downpour of rain impacting the penultimate stage. With two rain tyres and two hard compound tyres, Rovanpera was disadvantaged in the extremely slippery conditions against those who had soft tyres, and conceded the overall lead by just 1.4s to Ott Tanak.This set up a thrilling showdown for the rally-ending Power Stage, where conditions were dry and sunny - albeit with plenty of mud dragged onto the road as had been the case across all of the stages. Again on a combination of rain and hard tyres, Rovanpera produced a stunning run, 5.6s quicker than Tanak and 21.8s faster than anybody else to secure his second successive victory and a maximum points haul. That increases his championship lead after three rounds to 29 points. It is the 21-year-old's fourth career WRC win - all in the space of nine events - and his first on asphalt.Elfyn Evans already dropped around two minutes on Friday morning when he finished two stages with a tyre off the rim. After two stage wins he finished fifth overall and third in the Power Stage, scoring some important points towards both championships as he looks to move forward from a difficult start to his season. The team now leads the manufacturers' standings by 42 points.Esapekka Lappi missed most of the first day after hitting a large rock on the opening stage and damaging his car's suspension. Once he restarted on Saturday he showed impressive speed in his first asphalt event in the GR YARIS Rally1, taking a fourth stage win of the weekend in Sunday's first test. Between its three crews, the team won 14 of the 19 stages across the event, confirming the strong performance of the new-for-2022 GR YARIS Rally1.TGR WRC Challenge Program driver Takamoto Katsuta finished one place behind Evans in sixth, once again scoring points for TGR WRT Next Generation.For more information, visit https://toyotagazooracing.com/wrc/release/2022/rd03-day3/. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)

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ElkNet v2 Set to Launch on April 9th for Token Upgrade & First Governance Vote

Madrid, Spain, April 5, 2022 – (SEAPRWire) – Elk Finance which is a decentralized network for cross-chain liquidity has announced the launch of its ElkNet v2 upgrade. ElkNet v2 is the first fully functional version of the ElkNet protocol, with security and efficiency as its highlighting upgrades. For more details, please visit Introducing: ElkNet v2 (Overview, Token Migration & Governance) | by Elk.Finance | Elk Finance | Mar, 2022 | Medium The upcoming ElkNet v2 upgrade will be secured by design with various security checks and transfer limits in place. It will work on a cross-chain triangle model where security, speed, and cost will be balanced within the network to enhance user experience.  Cross-chain messaging is one of the highlighting features of ElkNet v2 which will allow outside developers to deploy cross-chain smart contracts and web3 applications. ElkNet v2 is a ground-breaking cross-chain architecture based on a system of token “reservoirs” that are installed on each chain supported by ElkNet.  ElkNet Reservoirs will improve transparency, minimize custodial risk, and reduce smart contract vulnerabilities all at the same time. Another interesting part of the ElkNet v2 upgrade is the deployment of a new ELK token contract which is a pre-requisite to installing the ElkNet Reservoirs. In order to take advantage of the new features and network operations, users must upgrade to ElkNet v2 from the Elk dApp. As part of the ElkNet v2 upgrade, the first official governance vote will also be initiated. A significantly revised ELK tokenomics framework will be presented to users for approval.  The first vote will be placed during the token upgrade and the token update will be followed by a poll about each of the new token contracts, with the results being published on the blockchain.  Detailed information about the ElkNet v2 upgrade is available in the above-mentioned medium article. Summary Elk Finance is going to launch its ElkNet v2 upgrade on April 9th, 2022, with upgrades including an ELK token upgrade, first governance vote, ElkNet Reservoir System, and many other updates. Social Links Twitter: https://twitter.com/pyropyrosquid Telegram: https://t.me/elk_finance_chat/ Discord: https://discord.com/invite/D68vrXgXXZ Medium: https://medium.com/elk-finance Media contacts Brand: Elk Finance Contact: Pyro, CMO E-mail: pyro@elklabs.org Website: https://elk.finance/ SOURCE: Elk Finance The article is provided by a third-party content provider. SEAPRWIRE makes no warranties or representations in connection therewith. Any questions, please contact cs@SEAPRWIRE.com Sectors: Top Story, Daily News SEAPRWIRE (www.seaprwire.com) offers newswire service in Southeast Asia (Indonesia, Thailand, Vietnam, Singapore, Malaysia, Philippines & Hong Kong )

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Mitsubishi Shipbuilding to Build LNG Bunkering Vessel

TOKYO, Mar 30, 2022 - (JCN Newswire via SEAPRWire.com) - Mitsubishi Shipbuilding Co., Ltd., a part of Mitsubishi Heavy Industries, Ltd. (MHI) Group based in Yokohama, has concluded a contract with KEYS Bunkering West Japan Co., Ltd. for construction of a liquefied natural gas (LNG) bunkering vessel, the first to operate in western Japan. The vessel will be built at the Enoura Plant at MHI's Shimonoseki Shipyard & Machinery Works in Yamaguchi Prefecture, with completion and handover scheduled for March 2024.Image of LNG Bunkering VesselLNG bunkering vessels supply LNG to LNG-fueled vessels. The use of LNG propulsion for ships is attracting attention as a solution for compliance with regulations aimed at reducing greenhouse gas (GHG) emissions. The planned LNG bunkering vessel will have an electric main engine, and be equipped with a dual fuel engine capable of using both LNG and heavy oil as fuel, a first for an LNG bunkering vessel in Japan. When operating in gas mode, it will provide exceptional environmental performance with considerably reduced emissions of carbon dioxide (CO2), nitrogen oxide (NOx), sulfur oxide (SOx), and particulate matter (PM).KEYS Bunkering West Japan is a joint venture company established in February 2022 to supply LNG fuel for ships in the Kyushu and Setouchi Regions, with investment from Kyushu Electric Power Company, Inc. NYK Line, ITOCHU ENEX CO., LTD., and SAIBU GAS CO., LTD.Mitsubishi Shipbuilding, as part of MHI Group's strategic initiatives for energy transition, will make use of the gas handling technologies and experience it has accumulated from building LNG carrier vessels. Through this business project involving low environmental-impact LNG fuel, Mitsubishi Shipbuilding, as a maritime system integrator, aims to further the decarbonization of the marine industry, and realize a carbon neutral world.Overview of the LNG Bunkering VesselLength overall (LOA): Approx. 82.4 metersBeam: Approx. 18.2 metersDraft: Approx. 4.8 metersGross tonnage: Approx. 4,850 tonnesLNG tank capacity: Approx. 3,500 m3Propulsion system: Electric propulsionAbout MHI GroupMitsubishi Heavy Industries (MHI) Group is one of the world?s leading industrial groups, spanning energy, logistics & infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)

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How to Determine the Length of a News release

Hong Kong – SEAPRWire often gets questions about how to write a news release, one of which is what the word count should be. Whether it is an announcement, product launch or a company event launch, an effective news release should be at least 300 words and max out around 400 words. What Determines the Ideal Length? There are a few factors that lead to this determination: People are pressed for time – It’s easy to think that people are too distracted, and that’s why they won’t read a long news release. Information overload -Too much information puts the onus back on users’ reader to determine what’s important. Information underload – On the flip side, users don’t want to write a 20-word news release that explains nothing. Shows competence – 300 – 400 words give users time to convey any background information without overstaying users’ welcome. SEO – While users need to be concerned with having people read what users wrote, users also need to consider the internet. If users’ release is getting distributed through the internet, rather than appearing in a related article, users need it to be at least 300 words long. Structuring the News release If SEAPRWire team accept that 300 – 400 words is ideal, we’re still left with the question of how to get there. The basic news release format has a headline followed by three or ftheir paragraphs. Let’s go over each to give users an idea of the ideal inverted pyramid news release structure. Headline Many editorial systems will only show the first 55 characters of users’ news release headlines. Search engines only show the first 70 characters of a headline. In other words, keep it short. Ideally, users should be shooting for a headline that is under ten words. In those ten words, users want to pique people’s interest so they will continue reading and convey basic information about what users’ release is about. It’s not easy, but effective news release headlines can be the difference between getting users’ news release read and getting skipped over. First Paragraph Users’ first sentence should be that enticement all by itself. An ideal paragraph is about three or ftheir sentences, so once users have that perfect first sentence, spend the rest of users’ first paragraph answering the 5Ws (and 1 H): WhoWhatWhereWhenWhyHow Any good journalist knows that these are the most important questions to answer in any story. If you’re able to answer them in users’ first paragraph, you’ll have hooked users’ reader and given them the most pertinent information. even if this first paragraph is the only thing they read. Second Paragraph Users should spend most of users’ time working on users’ first paragraph. After all, that’s the part of users’ news release that’s most likely to be read. For the readers who choose to read beyond the first paragraph, users can now start fleshing out users’ story a bit. But remember to avoid information overload, this section adds detail. but users don’t want to overwhelm. Some things to include: Supporting facts and statistics – Don’t overdo it with unnecessary facts. But, placing in some supporting evidence can boost users’ credibility in the eyes of the reader. Quotes – This is the perfect time to add some quotes. Subheadings and bullet points – Break things up with subheadings and bullet points to make information easier to digest and keep people reading. Remember to stick to relevant information and get to the point quickly. While an occasional topic may merit a third paragraph to convey the information, users typically want to keep users’ news release concise by including supporting facts in a paragraph that’s no longer than ftheir sentences. Conclusion A closing paragraph can be used to summarize and reiterate users’ main points. However, users don’t want to get repetitive. Avoid the temptation to rewrite what you’ve already said. Instead, think of this as a reward for readers who reached the end where users can quickly condense all the information into a concise takeaway. Tips on Keeping Things Short While users may struggle to get users’ news release to the 300-word mark needed for SEO, the much more likely issue you’ll find yourself facing is that users’ news release will be too long. Don’t worry. There are some methods users can use to help users find the ideal news release length: Write first, edit later – Don’t obsess over length. Write users’ news release first, then assess how much editing will be needed. Overfocusing on length can lead to disjointed and sloppy news release writing. Stick to what works – Write direct and to-the-point sentences. Write three to ftheir sentences per paragraph. Write three to ftheir paragraphs per news release. If users can stick to these guidelines, you’ll be coming in around the ideal news release length without needing much adjustment after the fact. A picture is worth a thousand words – This can help keep users’ word count down and may be more engaging to readers. Plus, the reader’s eyes are naturally drawn towards pictures so users’ image will likely be seen. About SEAPRWire SEAPRWire is the top-up newswire in Southeast Asia. It offers PR distribution service to all Southeast Asia regions, including: Singapore, Vietnam, Thailand, Malaysia, Indonesia, Philippines, Hong Kong and Taiwan. SEAPRWire has a network of media editors, journalists, magazines, newspapers and PR agencies. It also cooperates with top wire services like JCN Newswire, Factiva, Eiko Reuters, Bloomberg, Yahoo, MarketWatch, BusinessInsider. SEAPRWire can distribute press releases in multi-linguages, such as: Traditional Chinese, Simplified Chinese, Thai, Vietnamese, Japanese, Korean, Malay, Indonesian … For quicker communication, please connect on Skype: cs@seaprwire.com Telegram: @seaprwire Media contact Company: SEAPRWire Contact: Tina, Marketing Manager Email: cs@seaprwire.com Website: http://www.seaprwire.com SOURCE: SEAPRWire

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