Strengthening the three key stores in Shinjuku, Nihombashi and Ginza

「At Isetan Shinjuku Main Store, we plan to remodel the confectionery section on basement level 1 of the main building and the fragrance section on the second floor in fiscal 2026, creating a distinctive store that attracts customers from around the world.」

「At the invitation events for valued customers, which can be seen as symbols of our key initiatives, the “high-sensitivity, high-quality strategy” and the “CRM strategy for connecting with individual customers,” Tanseikai at Isetan Shinjuku Main Store and Ippinkai at Mitsukoshi Nihombashi Main Store both set new record-high sales.」

「In particular, total sales at Isetan Shinjuku Main Store exceeded by more than double digits the previous record high recorded for the same period last year, and achievement of the full-year plan of ¥372.7 billion is now within sight.」

「In September in particular, we held invitation events for valued customers, which can be seen as symbols of our key initiatives, the “high-sensitivity, high-quality strategy” and the “shift from a mass-market to an individual-customer business model”: Tanseikai at Isetan Shinjuku Main Store and Ippinkai at Mitsukoshi Nihombashi Main Store. By strengthening a broad range of items, from luxury brands and art to food, we won support from customers nationwide, and both events recorded their highest sales ever.」

「In particular, Isetan Shinjuku Main Store set a record for sales in a cumulative first-quarter consolidated period, driven partly by higher sales to external sales customers. Sales at Mitsukoshi Nihombashi Main Store also expanded steadily above plan, helped by events including the Mitsukoshi 350th Anniversary Grand Founding Festival.」

「At Isetan Shinjuku Main Store, although customer traffic from overseas has not recovered to pre-pandemic levels, first-half sales reached their highest level since the integration. The recovery has been strong enough for us to expect full-year sales of more than ¥300 billion, a level achieved only once in the past, based on gross sales before the application of accounting standards for revenue recognition and related standards.」

「At Isetan Shinjuku Main Store and Mitsukoshi Nihombashi Main Store, remodeling carried out before the COVID-19 pandemic also contributed. Luxury brands, jewelry and watches performed well, while sales at “Tanseikai” and “Ippinkai,” which feature special events and hospitality, reached record highs.」

「At Isetan Shinjuku Main Store and Mitsukoshi Nihombashi Main Store, sales were driven by external sales customers and top-tier MI Card customers, and high-priced items such as luxury brands, jewelry and watches performed well. At Isetan Shinjuku Main Store, April sales reached the highest level since the integration of Mitsukoshi and Isetan, among other signs of a clear recovery trend.」

「To evolve both main stores into symbols of aspiration and empathy, we will begin planning store formats focused on fashion at Isetan Shinjuku Main Store and on products and services related to tradition, culture and lifestyles at Mitsukoshi Nihombashi Main Store.」

「Under the “sophisticated quality strategy,” Isetan Shinjuku Main Store aims to become the world’s number-one and one-of-a-kind department store. It held weekly events featuring luxury brands and other labels offering the latest and most fashionable products worldwide, which were well received.」

「In particular, limited events held by the two main stores for app members and external sales customers attracted strong interest, generating attendance and sales above plan.」

「In September, Bic Camera Nihombashi Mitsukoshi expanded and reopened on the 7th floor of the new building at Mitsukoshi Nihombashi Main Store. In addition to the well-received concierge service, we expanded services by introducing proposals for fitness equipment and establishing a home-renovation counter.」

「At Mitsukoshi Nihombashi Main Store, we refined the environment, services and products through remodeling that began in fiscal 2018. Following the opening of the first remodeling phase in October 2018, the Nihombashi Garden on the rooftop opened in May 2019, the men’s floor and Watch Gallery in August, the Jewelry Gallery in November, and the Mitsukoshi Contemporary Gallery in March 2020. The special-selection boutiques also completed renovations, bringing the second remodeling phase to completion.」

「At Mitsukoshi Nihombashi Main Store, under the concept of the “world’s finest hospitality department store,” we introduced a new hospitality structure using digital technology and reopened the first remodeling phase in October 2018. We began the second remodeling phase in spring 2019, covering categories including watches, jewelry and art, with completion targeted for spring 2020. Some floors are temporarily closed during the work, causing inconvenience to customers. In November 2019, the jewelry salon was reborn as the “Jewelry Gallery,” a place where customers can encounter exceptional jewelry in a free and special space, as if viewing works of art in a museum or gallery.」

「At our main stores, Isetan Shinjuku Main Store and Mitsukoshi Nihombashi Main Store, we are proceeding with remodeling to improve the store environment. We are introducing categories and content suited to customer needs, as well as vibrant shops and brands. In addition, we strengthened escort and assistance services by making maximum use of our people.」

「We are undertaking large-scale remodeling at Isetan Shinjuku Main Store and Mitsukoshi Nihombashi Main Store, aiming to create a new store model that combines human capabilities with digital technology. The first remodeling phase has been completed, and we have improved the customer environment by establishing concierge services and salons where highly loyal customers can relax at their leisure.」

「Mitsukoshi Nihombashi Main Store underwent its first major remodeling in approximately 30 years in October 2018, transforming it into a department store centered on hospitality with enhanced personal shopping. At Isetan Shinjuku Main Store, we refined its products, services and spaces and remodeled the Men’s Building for the first time in 15 years toward realizing the world’s No. 1 men’s fashion store.」

「At the core stores, we are carrying out store remodeling as a revitalization measure to further improve earnings capacity. Mitsukoshi Nihombashi Main Store reopened the first remodeling phase on 24 October, aiming to become a specialty store centered on hospitality. We established a “Personal Shopping Desk,” staffed by concierges who provide more personal recommendations in response to customer requests and consultations, and a “Reception” where information guides introduce services according to customers’ needs. We also introduced a storewide customer service structure that connects customers across the entire store.」

「Mitsukoshi Nihombashi Main Store held the grand opening of the first remodeling phase on 24 October, aiming to become a specialty store centered on hospitality. At Isetan Shinjuku Main Store, we are advancing plans to establish “Every day is new. Isetan of Fashion” by expanding the breadth of the assortment, proposing new styles and providing new customer experiences using digital technology. As the first phase, the Men’s Building is scheduled to reopen following remodeling in spring 2019, followed by the main building in fiscal 2019 as the second phase.」

「The 3 core stores performed well, with sales driven by domestic demand and the growing number of visitors to Japan. As many customers are expected to visit in the future, we plan to progressively undertake large-scale remodeling at Mitsukoshi Nihombashi Main Store and Isetan Shinjuku Main Store from this fiscal year to improve the customer environment. At Mitsukoshi Nihombashi Main Store, we are remodeling the store to specialize in hospitality and welcome each customer with Japan’s finest service while offering high-quality lifestyle products and experiences. The “Cosmetics & Accessories” area on the 1st floor of the main building was refreshed and reopened ahead of schedule in April. We will continue preparing for completion of the first remodeling phase in autumn. At Isetan Shinjuku Main Store, we began remodeling the main building and Men’s Building to provide new value.」

「On the sales side, we formulated plans to maximize future earnings at the core stores, including medium- and long-term remodeling. At Mitsukoshi Nihombashi Main Store, we are carrying out remodeling aimed at completing the first phase this autumn, to provide customers with high-quality lifestyle products and experiences with Japan’s finest hospitality. In March, the 1st floor of the new building was refreshed and reopened ahead of this work. At Isetan Shinjuku Main Store, we will return to “Isetan of Fashion” and progressively remodel the main building and Men’s Building, alongside reorganizing categories to meet customer needs and establish a symbol of digital communications.」

「At the 3 core stores, we focused on controlling costs, including advertising and research expenses, and proceeded with plans to maximize future earnings, including medium-term remodeling, after resetting the direction and targets of Isetan Shinjuku Main Store, Mitsukoshi Nihombashi Main Store and Mitsukoshi Ginza Store. At Mitsukoshi Nihombashi Main Store, we began remodeling aimed at completion in autumn 2018 to create an environment for proposing high-quality lifestyle products and experiences with Japan’s finest hospitality, tailored to each customer. At Isetan Shinjuku Main Store, we will return to “Isetan of Fashion” and progressively remodel the main building and Men’s Building, alongside reorganizing categories to meet customer needs and establish a symbol of digital communications.」

「Sales at the core stores are recovering, supported by factors including an increase in visitors to Japan and buoyant equity markets. We have advanced the visualization of expenses through rigorous income and expenditure management and strengthened cost control. At the same time, after resetting and clarifying the direction and targets of each store, we are considering specific plans to maximize future earnings, including medium-term remodeling.」

「For the core stores, we clarified the direction of each store and worked to maximize earnings alongside thorough cost control, including identifying current event and promotional expenses.」

「At our 3 core stores in Shinjuku, Nihombashi and Ginza, which are our earnings pillars, we will establish a firm position by continually refining our independently curated store formats while reassessing the desired direction for each store in line with its customer characteristics.」

「At Mitsukoshi Nihombashi Main Store, in line with the culture resort department store concept, we presented projection mapping in the central hall in December as a new artistic expression using technology, illuminating the statue of the celestial maiden erected in 1960 in various colors. On the final day, the projection was shown before the annual performance of “Mitsukoshi’s Ninth,” allowing customers to enjoy a special moment between shopping.」

「At Mitsukoshi Nihombashi Main Store, in line with the “culture resort department store” concept, we held the first “Mitsukoshi Experience Gathering” event in September, introducing the thoughts embodied in products and the stories behind their creation. Members involved in product development gave presentations using video and music.」

「At Mitsukoshi Nihombashi Main Store, we are working to create a new department store as a base for communicating Japanese culture under the concept of a “culture resort department store.” In May, the main building was designated an Important Cultural Property. To complete a store where customers can immerse themselves in and enjoy culture, we commissioned architect Kengo Kuma to design the project and have been proceeding with remodeling in stages since 2017.」

「To further strengthen our distinctiveness and brand power, we will invest management resources primarily in our 3 core stores, Isetan Shinjuku, Nihombashi and Ginza, where we have particular strengths, and provide world-class value.」