Worth reading
55In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
33
¥100 million (year-on-year change in operating profit)Wording
Conditional
How definitive the wording is.Contents of this document
Financial Results PresentationFirst quarter of the fiscal year ending February 20276 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥2,614 100 million +8.4%gross operating revenue
Operating profit160 Hundreds of millions of yen
Ordinary income165 Hundreds of millions of yen
Net income111 Hundreds of millions of yen
Selling, general and administrative expenses600 Hundreds of millions of yen
Operating profit margin
Rate6.1 %
Year-on-year change0.9 %
Results for the three months of the current quarterConsolidated results for the first quarter alone: gross operating revenue of ¥261.4 billion, operating profit of ¥16.0 billion, ordinary profit of ¥16.5 billion, and net profit of ¥11.1 billion.
Full-year earnings forecast
Gross operating revenue
10,550 Hundreds of millions of yen
Gross operating profit
3,088 Hundreds of millions of yen
Selling, General and Administrative Expenses
2,513 Hundreds of millions of yen
Operating profit
575 Hundreds of millions of yen
Business profit
643 Hundreds of millions of yen
Ordinary income
570 Hundreds of millions of yen
Net income
380 Hundreds of millions of yen
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
First-quarter results are progressing above the initial assumptionsBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Increase in operating profit of the domestic department store business23
Combined increase in operating profit of the financial services and overseas commercial development businesses5
Year-on-year change in SG&A expenses19
Factors behind the increase in SG&A expenses
Human Capital Investment2
Sales Force Strengthening3
Higher prices5
Variable costs2
Cost Reduction-10
New initiatives
- Update to the policy of classifying owned real estate into stores and non-store properties
- Accelerate the handling of individual real estate projects by converting them into projects and introducing external expertise
- Advance sales negotiations for multiple non-store properties and value-enhancement plans
Key KPIsA metric the company considers important as a management benchmark.
- Total sales at domestic department storesYear on year against the same period last year+10.0%
- Domestic customer salesYear on year against the same period last year+9.0%
- Inbound sales263 Hundreds of millions of yenYear on year against the same period last year+15.0%
- Sales of high-value productsYear on year against the same period last year+20.0%
- Food salesYear on year against the same period last year+3.0%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Inbound Tourism
Number of transactions/customers
Year on year against the same period last year-4.0%
Unit price
Year on year against the same period last year+19.0%
High-value goods sales share
Year-earlier period66 %
Current year71 %
Segment results
Domestic department stores
Operating revenue
756 Hundreds of millions of yen+2.9%
Operating profit
75 Hundreds of millions of yen+23.0%
Overseas department stores
Operating revenue
97 Hundreds of millions of yen+13.2%
Operating profit
26 Hundreds of millions of yen+4.0%
Domestic commercial development
Operating revenue
131 Hundreds of millions of yen+3.1%
Operating profit
22 Hundreds of millions of yen+1.0%
Overseas commercial development
Operating revenue
45 Hundreds of millions of yen+15.5%
Operating profit
17 Hundreds of millions of yen+3.0%
Financial services
Operating revenue
67 Hundreds of millions of yen+6.9%
Operating profit
16 Hundreds of millions of yen+2.0%
Construction and interior design
Operating revenue
97 Hundreds of millions of yen+12.5%
Operating profit
6 Hundreds of millions of yen0.0%
Other Businesses
Operating revenue
143 Hundreds of millions of yen+1.6%
| Item | Details |
|---|---|
| Document type | Financial Results Presentation |
| Fiscal Period Covered | First quarter of the fiscal year ending February 2027 |
| Net Sales | ¥2,614 100 million (gross operating revenue) (YoY +8.4%) |
| Operating profit | 160 Hundreds of millions of yen |
| Ordinary income | 165 Hundreds of millions of yen |
| Net income | 111 Hundreds of millions of yen |
| Operating profit margin | Rate 6.1 % / Year-on-year change 0.9 % |
| Selling, general and administrative expenses | 600 Hundreds of millions of yen |
| Results for the three months of the current quarter | Consolidated results for the first quarter alone: gross operating revenue of ¥261.4 billion, operating profit of ¥16.0 billion, ordinary profit of ¥16.5 billion, and net profit of ¥11.1 billion. |
| Full-year earnings forecast | Gross operating revenue 10,550 Hundreds of millions of yen / Gross operating profit 3,088 Hundreds of millions of yen / Selling, General and Administrative Expenses 2,513 Hundreds of millions of yen / Operating profit 575 Hundreds of millions of yen / Business profit 643 Hundreds of millions of yen / Ordinary income 570 Hundreds of millions of yen / Net income 380 Hundreds of millions of yen |
| Self-assessment against the plan | First-quarter results are progressing above the initial assumptions |
| Segment results | Domestic department stores Operating revenue 756 Hundreds of millions of yen (YoY +2.9%) / Operating profit 75 Hundreds of millions of yen (YoY +23.0%) / Overseas department stores Operating revenue 97 Hundreds of millions of yen (YoY +13.2%) / Operating profit 26 Hundreds of millions of yen (YoY +4.0%) / Domestic commercial development Operating revenue 131 Hundreds of millions of yen (YoY +3.1%) / Operating profit 22 Hundreds of millions of yen (YoY +1.0%) / Overseas commercial development Operating revenue 45 Hundreds of millions of yen (YoY +15.5%) / Operating profit 17 Hundreds of millions of yen (YoY +3.0%) / Financial services Operating revenue 67 Hundreds of millions of yen (YoY +6.9%) / Operating profit 16 Hundreds of millions of yen (YoY +2.0%) / Construction and interior design Operating revenue 97 Hundreds of millions of yen (YoY +12.5%) / Operating profit 6 Hundreds of millions of yen (YoY 0.0%) / Other Businesses Operating revenue 143 Hundreds of millions of yen (YoY +1.6%) / Operating profit Not disclosed |
| Breakdown of Factors Affecting the Change | Increase in operating profit of the domestic department store business 23 / Combined increase in operating profit of the financial services and overseas commercial development businesses 5 / Year-on-year change in SG&A expenses 19 / Factors behind the increase in SG&A expenses Human Capital Investment 2 / Sales Force Strengthening 3 / Higher prices 5 / Variable costs 2 / Cost Reduction -10 |
| Key KPIs | Indicator name Total sales at domestic department stores / Value Not disclosed / Year on year against the same period last year 10 Year-on-year %, Indicator name Domestic customer sales / Value Not disclosed / Year on year against the same period last year 9 Year-on-year %, Indicator name Inbound sales / Value 263 Hundreds of millions of yen / Year on year against the same period last year 15 Hundreds of millions of yen, Indicator name Sales of high-value products / Value Not disclosed / Year on year against the same period last year 20 Year-on-year %, Indicator name Food sales / Value Not disclosed / Year on year against the same period last year 3 Year-on-year % |
| Unit price and quantity metrics | Inbound Tourism Number of transactions/customers value Not disclosed / yoy_pct -4 Year-on-year % / Unit price value Not disclosed / yoy_pct 19 Year-on-year % / High-value goods sales share Year-earlier period 66 % / Current year 71 % |
| New initiatives | Update to the policy of classifying owned real estate into stores and non-store properties, Accelerate the handling of individual real estate projects by converting them into projects and introducing external expertise, Advance sales negotiations for multiple non-store properties and value-enhancement plans |
Items this document does not state (15)
Gross Profit MarginProgress against full-year forecastNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAnnual DividendPayout ratioAcquisition of treasury sharesCapital expendituresOrders received and order backlogMarket Size / ShareKey points of the Q&A
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.In the domestic department store business, sales to domestic customers and inbound visitors increased, while cost control also progressed. The financial services and overseas commercial development businesses also remained solid. Ordinary profit increased by more than expected despite higher interest payments, as foreign exchange gains resulting from the weaker yen expanded the increase.
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