Declines in Revenue and Profit in the First Quarter of FY2017

「For the interim consolidated accounting period from 1 March 2026 to 31 August 2026, revenue fell 2.8% year on year to ¥213,821 million, mainly due to the decline from the previous year's Osaka-Kansai Expo-related sales in the department store business, the impact of closing sales floors for the major renovation of Daimaru Umeda, and the decline from the previous year's large interior and facilities-related orders in the developer business.」

「百貨店・SC事業ともに好調に推移し、総額売上高は対前年＋2.5％の増収 事業利益は、梅田店改装・万博関連売上の反動減などにより対前年△5.6％減益 も、販管費の抑制・期ずれの影響などにより、4月予想に対し＋45億円超過」

「6. Business profit 14,114 240 1.7 13,874 7. Operating profit 14,122 △1,868 △11.7 15,990 9. 9,697 △786 △7.5 10,483」

「Consolidated results for the fiscal year were revenue of ¥445,094 million, up 0.7% year on year, and business profit of ¥50,597 million, down 5.4%. Operating profit was ¥49,015 million, down 15.8%, profit before tax was ¥44,515 million, down 20.2%, and profit attributable to owners of the parent was ¥28,282 million, down 31.7%.」

「Although tax-free sales in the department store business, which had grown significantly in the previous fiscal year, declined substantially, revenue increased 5.0% year on year to ¥219,925 million, as the shopping center (SC) and developer businesses remained solid. Business profit fell 13.2% to ¥28,181 million, operating profit fell 23.9% to ¥29,975 million, and interim profit attributable to owners of the parent fell 36.9% to ¥18,354 million.」

「As a result of these initiatives, full-year consolidated results reached record profit at every level since the management integration, achieving the profit targets for the final year of the medium-term management plan, FY2026.」

「For the six months ended August, against a backdrop of solid domestic sales and strong inbound sales, consolidated revenue increased 9.3% year on year to ¥209,368 million, business profit increased 60.8% to ¥32,476 million, and interim profit attributable to owners of the parent increased 125.5% to ¥29,094 million, marking record highs at every profit level.」

「For the three months ended May, against a backdrop of solid domestic sales and strong inbound sales, consolidated revenue increased 8.6% year on year to ¥101,469 million, business profit increased 66.8% to ¥16,403 million, and profit attributable to owners of the parent increased 76.9% to ¥11,316 million.」

「For the first 3 quarters of the consolidated fiscal year, revenue was ¥286,562 million, up 11.5% year on year; operating profit was ¥30,677 million, up 52.6%; and quarterly profit attributable to owners of the parent was ¥21,604 million, up 46.3%.」

「For the six months ended August, consolidated revenue increased 13.3% year on year to ¥191,634 million, operating profit increased 48.7% to ¥19,684 million, and profit attributable to owners of the parent increased 27.0% to ¥12,900 million.」

「For the three months ended 31 May 2023, consolidated revenue increased 14.1% year on year to ¥93,456 million, operating profit increased 34.5% to ¥10,169 million, and profit attributable to owners of the parent increased 7.1% to ¥6,397 million.」

「As a result of these initiatives, full-year consolidated revenue increased 8.5% year on year to ¥359.679 billion.」

「For the nine months ended 30 November 2022, consolidated revenue increased 8.2% year on year to ¥256.941 billion, operating profit increased 356.1% to ¥20.100 billion, and profit attributable to owners of the parent increased 302.3% to ¥14.762 billion.」

「For the six months ended 31 August 2022, consolidated revenue increased 7.5% year on year to ¥169.129 billion, operating profit was ¥13.237 billion, compared with an operating loss of ¥1.388 billion in the same period of the previous year, and profit attributable to owners of the parent was ¥10.155 billion, compared with a loss of ¥1.995 billion.」

「For the three months ended 31 May 2022, consolidated revenue increased 10.5% year on year to ¥81.905 billion, operating profit was ¥7.560 billion, compared with an operating loss of ¥3.819 billion in the same period of the previous year, and profit attributable to owners of the parent was ¥5.974 billion, compared with a loss of ¥3.062 billion.」

「In addition to these initiatives, consolidated revenue increased 3.9% year on year to ¥331.484 billion, owing in part to a rebound from store closures and shortened operating hours at department stores and PARCO in the previous year.」

「For the nine months ended 30 November 2021, consolidated revenue increased 2.9% year on year to ¥237.479 billion, operating profit was ¥4.407 billion, compared with an operating loss of ¥18.483 billion in the same period of the previous year; profit before tax was ¥2.079 billion, compared with a loss before tax of ¥21.593 billion; and profit attributable to owners of the parent was ¥3.669 billion, compared with a loss attributable to owners of the parent of ¥15.632 billion.」

「For the six months ended August, consolidated revenue increased 6.7% year on year to ¥157.333 billion, operating loss was ¥1.388 billion, compared with ¥20.637 billion in the same period of the previous year; loss before tax was ¥2.871 billion, compared with ¥22.760 billion; and loss attributable to owners of the parent was ¥1.995 billion, compared with ¥16.311 billion.」

「Against this backdrop, for the three months ended May, consolidated revenue increased 16.8% year on year to ¥74.097 billion, operating loss was ¥3.819 billion, compared with ¥27.103 billion in the same period of the previous year; loss before tax was ¥4.413 billion, compared with ¥28.492 billion; and loss attributable to owners of the parent was ¥3.062 billion, compared with ¥20.334 billion.」

「Despite these initiatives, the spread of COVID-19 caused both domestic and inbound consumption to stagnate, particularly in the core department store business. As a result, full-year consolidated revenue declined 33.6% year on year to ¥319.079 billion.」

「The third quarter (September–November) was profitable for the second consecutive quarter following the second quarter, but the impact of the first-quarter period of suspended operations was significant. For the nine months ended November, consolidated revenue declined 36.2% year on year to ¥230.699 billion, operating loss was ¥18.483 billion, and loss attributable to owners of the parent was ¥15.632 billion.」

「Despite the challenging environment, the Group secured profitability in the second quarter (June–August), but the impact of the period during which operations were suspended was significant. For the six months ended August, consolidated revenue declined 34.7% year on year to ¥147.471 billion, operating loss was ¥20.637 billion, compared with operating profit of ¥25.175 billion in the same period of the previous year; loss before tax was ¥22.760 billion, compared with profit before tax of ¥23.960 billion; and loss attributable to owners of the parent was ¥16.311 billion, compared with profit attributable to owners of the parent of ¥14.367 billion.」

「Despite these initiatives, the significant impact of store closures and other measures to suspend operations due to the spread of COVID-19 resulted in consolidated revenue for the three months ended May declining 43.6% year on year to ¥63.459 billion. Operating loss was ¥27.103 billion, compared with operating profit of ¥12.794 billion in the same period of the previous year; loss before tax was ¥28.492 billion, compared with profit before tax of ¥12.150 billion; and loss attributable to owners of the parent was ¥20.334 billion, compared with profit attributable to owners of the parent of ¥7.447 billion.」

「Despite the prolonged weakness in consumption following the consumption tax rate increase, the impact of natural disasters and the warm winter, and the effects of the COVID-19 pandemic, consolidated revenue increased 4.5% year on year to ¥480.621 billion, driven by sales of reserved-floor space in the Shibuya redevelopment project and other factors. Operating profit declined 1.5% to ¥40.286 billion, profit before tax declined 11.8% to ¥37.161 billion, and profit attributable to owners of the parent declined 22.3% to ¥21.251 billion.」

「As a result of these initiatives, for the nine months ended November, consolidated revenue increased 8.4% year on year to ¥361.767 billion, operating profit increased 9.4% to ¥37.042 billion, profit before tax was unchanged at ¥34.897 billion, and profit attributable to owners of the parent declined 4.9% to ¥20.997 billion.」

「For the six months ended August, consolidated revenue declined 0.7% year on year to ¥225.664 billion, operating profit increased 4.0% to ¥25.175 billion, profit before tax declined 4.4% to ¥23.960 billion, and profit attributable to owners of the parent declined 9.7% to ¥14.367 billion.」

「As a result of these initiatives, for the three months ended May, consolidated revenue increased 1.3% year on year to ¥112.482 billion, operating profit declined 1.6% to ¥12.794 billion, profit before tax declined 8.0% to ¥12.150 billion, and profit attributable to owners of the parent declined 10.7% to ¥7.447 billion.」

「As a result of these initiatives, full-year consolidated revenue declined 2.1% year on year to ¥459.840 billion. Revenue increased in the department store, real estate, and credit and finance businesses, but was affected by the decline resulting from the sale of a consolidated subsidiary in the previous year, as well as weak performance in the wholesale and interior design businesses. Operating profit declined 17.5% to ¥40.891 billion, reflecting lower revenue and profit; profit before tax declined 12.7% to ¥42.126 billion; and profit attributable to owners of the parent declined 4.0% to ¥27.358 billion.」

「For the nine months ended November, consolidated revenue declined 2.6% year on year to ¥333.608 billion, operating profit declined 10.6% to ¥33.853 billion, profit before tax declined 7.5% to ¥34.898 billion, and profit attributable to owners of the parent declined 6.9% to ¥22.077 billion.」

「For the six months ended August, consolidated revenue declined 3.1% year on year to ¥227.206 billion, operating profit declined 9.2% to ¥24.218 billion, profit before tax declined 3.3% to ¥25.064 billion, and profit attributable to owners of the parent declined 2.5% to ¥15.910 billion.」

「Despite these initiatives, for the three months ended May, consolidated revenue declined 2.6% year on year to ¥111.073 billion, operating profit was unchanged at ¥12.998 billion, profit before tax declined 3.3% to ¥13.212 billion, and profit attributable to owners of the parent declined 4.3% to ¥8.342 billion.」

「As a result of these initiatives, full-year consolidated revenue was ¥469.915 billion, up 3.8% year on year; operating profit was ¥49.546 billion, up 18.7%; profit before tax was ¥48.271 billion, up 13.3%; and profit attributable to owners of the parent was ¥28.486 billion, up 5.3%.」

「As a result of these initiatives, for the nine months ended November, consolidated revenue increased 5.6% year on year to ¥342.495 billion, operating profit increased 29.2% to ¥37.860 billion, profit before tax increased 25.7% to ¥37.727 billion, and profit attributable to owners of the parent increased 24.5% to ¥23.713 billion.」

「As a result of these initiatives, for the six months ended August, consolidated revenue increased 6.0% year on year to ¥234.510 billion, operating profit increased 24.1% to ¥26.680 billion, profit before tax increased 21.3% to ¥25.918 billion, and profit attributable to owners of the parent increased 17.8% to ¥16.315 billion.」

「As a result of these initiatives, for the three months ended May, consolidated revenue increased 4.0% year on year to ¥114.084 billion, operating profit increased 36.8% to ¥12.992 billion, profit before tax increased 42.3% to ¥13.668 billion, and profit attributable to owners of the parent increased 23.1% to ¥8.720 billion.」

「Consolidated revenue declined, as did consolidated operating profit and ordinary profit, while profit attributable to owners of the parent increased.」

「For the nine months ended December, consolidated revenue was down 5.9% year on year to ¥799.088 billion, operating profit was down 13.3% to ¥26.828 billion, ordinary profit was down 18.5% to ¥25.932 billion, and profit attributable to owners of the parent was down 12.7% to ¥16.101 billion.」

「For the first half of the current consolidated fiscal year, consolidated net sales decreased 5.9% year on year to ¥539.297 billion, operating profit decreased 12.5% to ¥19.0 billion, ordinary profit decreased 23.3% to ¥17.694 billion, and quarterly net profit attributable to owners of the parent decreased 14.5% to ¥12.836 billion.」

「For the first quarter of the current consolidated fiscal year, consolidated net sales decreased 5.9% year on year to ¥268.776 billion, operating profit decreased 12.7% to ¥9.318 billion, ordinary profit decreased 30.8% to ¥8.736 billion, and quarterly net profit attributable to owners of the parent decreased 50.3% to ¥8.484 billion, partly due to the reversal of the benefit from last year's reduction in the effective corporate tax rate.」